REGISTERED CO.MPAI¥Y NUMBF.R: 1129J732 IEngl4nd aDd Waleg) REGisfERED CHARITY NUMBER: 1180322 Lof*CTOWY oufD(X)R LEARNING TRUST IA COMPANY LIMITED BY GUARA_NTEEJ TRUSTELS, REPORT AND UNAUDITED FINANCIAL sTATEmE￿s FOR THE YEAR ENDED 31 DLCKMBER 2023 LONGTOMIY oufDOOR LEARNING TRUST COI%TENTS OF THE FINMCIAL STATEMENTS FOR TH8 YEAR F.NDF.D 31 DECFMBER 2023 P￿t Reference and Admlnistratlve Detalls Tru5tees' Report 2 to I I IndepeTrdent Examiner's Report 12 ststement Actsvitie5 13 B#18nte Sbttt 14 tv 15 Flow Ststtment 16 Notes to the C%5h Flow Statement Notes th the FlnAntial St*tem¢nts 18 to 29 LONGTOWN OUTDOOR LEARTr4lNG TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THF. YTr-AR b-iIDED 31 DECEMBER 2023 TRUSTEES Mr M D Fretr (Chairnianl (rasigned 291&Q31 Mr M S Fawcett Ms I Sellar MT5 C Philips Ircsigned 2121231 Mr5 J Cecil {resi8ned212123) MrN M Hi8hfield lffsigned29161￿) Mr G T Wilson Id¢ceased 1612123) Mr5 F H Dickson (Chairman) Mr S A Lee ITre3surerl Mrs A C pr￿Ge E I Wallace DrA W J Morriss IChairmaA} {r¢siglld 13112123) Mr N C Wilson [ap￿)inted 1115123) Mts C L Brown (appoitttcd 221Y24) Mr G G Sroith (opp)ittt¥J 114124) REGisfERED OFFICE Lon￿oWn H¢rtford H¢refordshire HR2 OLD REGISTERED COIMPANY 11291732 (England and Waic5} REGISTERED CH.4RITY NUMBER 1180322 INDEPENDENT EXAMINER Lack¢tt & Co Chartered Certified Accountants Shelton H(x]se Conittgsby Str¢ Hereford Hcrcfordshire HRI 2DY BANKERS The c0-o￿a￿v¢ Bank Business Direct POBox250 Skclrncrdalc Lanc&8hirc IVN8 6Wf yThrw.lon8townoutdo¢rl¢arning.co.uk Page I LONGTOI*T4 OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732J TRUSTEES, REPORT FOR TFEE YEAR ENDED 31 DECEMBER 2023 Th¢ trust¢¢s who are a]50 dirc¢ioYs of thc chariry for thc wrpos¢s of the C•mpatti¢s Aci 2(M)6, presettt th¢ir rcport the financial statsments nf the thArity for the year end￿ 31 Decemher 2n23. The thLStre% have adopted the provisithns Of Accounting and Reporting by Ch8tiU¢5.' statEm￿l of REr0TllTn￿thd PTr¢ti¢E appliGablt to chariti￿ prcparillg their accuunts in aLrorddn£e with the Financtal Reporting Standard applicable in the LK and Republic of Ircland IFRS 102) (effective l January 20191. OurVIs10 "A world ill which every young person has the opportunity to build their Chara¢￿ 8nd r¢sili¢n¢¢ through outdoor leaming attd adventure. ch￿ pmgrammes will boo$t health and w¢lliw activiry as th¢rapy, promot¢ healthy s￿131 interactiotss, encourage learning, improve physical c3pibilitlC5 and foster connection with the eTrvirontnent" Report ihe Chatr of Trn#tets This year we have welc()med over 201X) Child￿ and yO￿g people to our centre and thi4 along5id¢ pNdettt finan¢iol management, ha5 cnablcd us to mttt our chariLible objttL8 and increasc our financi￿ security. TherE hkve be challcngcs along thc way, but the team have bcen able to delivtr affordable, high quality, outdoor leaming and advrnmT that h&8 a w)sitive impaet on our customery many of whom art stn1￿ling due to the tost of Iivitt8 ttisis. 2023 has ￿ell a yw of ¢hange for ow team of TNs¢w employees and vo]unw￿. In May. Mike Faw¢¢tt stepp>J down from hjs rol¢ as Hrad of Ccntrc but r¢tain¢d hi5 role a5 EthIcatior￿ Visits and Outdoor Èthcation Adviser aud Trust%. Mik¢ ha5 been at the heart of our Trust since ir5 inception in 2018 and was an integral part of the aclion tsken to save the Centre fTOrn GI05U￿ in 2017. and again in 2020 during IhE pandmic. The TTUSL th¢ centrc team and our custom¢r5 indebted to Mike's dete￿ination, conjmimient and pa&8ion. I would ￿80 lthe to thank Dayc Grim Operation5 Mallager, for 5t¢pping up as actillg Htad of Cencre, and Malt Frter for tak2ng ott the role of StrateRic Lead. In Dec 2023. ¢yJr Ch￿"T of Trustees. Alistair Morri&s took thc decision to sw dowj. During a difficult year for thc ccntre and the Trust, Alistair workcd iirclcssty aiongsidc thc Board of Tr￿1cCS and thc ccntrc tC￿n to makc sure we delivered our chan"table objects. incre4scd our fmatscial security. and prow¢d our ambitious plat￿ to improve tb¢ ffntre's facdiiies. As a result of this resigttatio]4 we have s¢etL the pol¢t￿l*l valu¢ of having a Vic¢-Chait at￿ this is SI)￿￿h1￿ we will reflect on as we look at the long-tcrm sU51aLnabilily of ihe Board of TTU5tee5 Rutmins 8longAide our centre operation hL8 been our building projp4 providirtg rtew dinin& ¢8t¢Ting. m¢elln& arr0mm￿at1i)n and washitig fa¢iliti¢s fgr th¢ c¢ntsE. to th¢ cloK p￿xIMIty of th¢ G￿tTe to LoDgtown Ca5t]e and the hi%toric settlement of Longb)wn attd it$ d¢siwJa¢ion as d S¥heduled AnLienl Monutn¢n¢ lh¢ planning process has been extrcrnely COTnplcx and ¢longat¢d. Howevrr. we were finally awarded planning perni55ion in March 2023. IlnfortUTLatdy. thc InC￿￿e in l)uilding material cosrs since 2020 and the compromises ma(k to the destsn attd fullcuonality of the buildillg creared some doubt on wbetber we would gei a 8trong eLough retum on our inv¢sttnenL In Nov¢mbeT. tOgetTr￿r with The Wilson Foundation, we made the decision to pause the project whilst ￿ inv¢sti8atrd alternative opiions using the centrds existing foo(prinL This will be a key priority for 2024 as we seek a lOng-￿M solutton to our kitchenldining facilitiG8. We remain extremely grdteMI to our landlord 8nd parmers. The Wilson Foundation, for their continLLed $llPWt and dedication provided ￿ the centre. to help ii deliver adv¢nturows a¢itviiies to young peopl¢. As our landlo￿ The Wilson Foundatton continues ￿ inv&qt in the lortg-tern) S￿$t21n2b]ljry of ollr centre. As a pa￿tr, The Wilson Foundation's buw scheme continues to provide stnLggl]ng fatnilies with th2 QP[thu￿ty to 5eJJd their childt¢n on a rsidential school trip to [M￿own. despile theii financial hardship. Fina]ly, I would IJTr¢ w say o huge ihank you to all our ttiM¢es, employtts, VOI￿1¢¢rs, and freelance￿ WI￿ havE giv¢n the￿ 21110 I￿ake we delight our Otst0￿e[S and delivcr on our chatstable Dbjectivc Dicksot) Chdirof TnJsi¢¢s Pa8e 2 LONGfowN OUTDOOR LEARf4ING TRUST IRECtSTEREP NUMBER.. 11291732J TRUSTEFS, REPORT FOR THE YEAR ENDED 31 DECWMBV.R 2023 RepDrt from the Dlrector 2023 h&$ been a very Succ￿sfUl year. with an increa%c in thc number of school children bcnefitting from our 4)utdoor learning and 8dvenlll￿ pr0￿MMe$. despite a trend towards short¢r durntions and 5mallcr group sizcs. This r¢pr¢5ents a ¢riii¢ai ¢tsnttibuiLOtL to our succtss a5 sch￿1 ￿lde￿lIal$ nuke up to 790A of our total itLcon*. Thc cenlrc team h&8 wod£ed hard to ¢nsure thai boukings me¢L bu( do not ¢x¢￿d ￿aIlable Staffing capaciLy. A variety of weekend attd summer holid￿ knoking5 have bccn takeJ4 broadly in line with 2022 ErfM)k2ng level& However. %uccc&s has ￿me with its own challeng￿. Incrcascd Competi￿On in the employtnenl mat4(ct nmde it diffi¢uit lo fill our 5raff esrablLshments aDd this incr¢ased the pressure on existing ¢eam. We hv8¢ly thankful to our staff, freelancer5 and volunEers for their profrssionalism, dedicatio￿ and willinwss to go Iwnd the call of dllty to makc sure cvery childwas able to build their chaJ8eter and re￿I1￿ce in a sife athj en¢oLwaging cnvironment. For a smill lear￿ thcrc b&s bcen sI￿lf1￿1nr Staff aud tru5t¢E turnover this ycar and we aTt now in tbe process of tthuilding and retaining a te&m io deliver our objttts in 2024 and tqond. c￿%101￿£r sati5factiotL 15 ai the heart of our strategy. We have a ￿"gh proponi¢)n of rerkllnitig custorners frtsm Northamptonshirc and tht local area aTd w¢ work hard to t￿￿Ure they have a su¢¢essful trip and come ba¥k the following ycar. r ¢haritabl¢ vbjerls are aehicved by woth.llg with mainstream at￿ SPEcid Sch￿14 club4 youth organi5ations and thdritie$. W¢ manage outC05ts vcry cArefi￿Y tokw out pri¥¢¥ down H5 ￿ know thi8 is irnportant to our¢u51omers. In 2023. LOL'f5 Educational Visits Advisory Scrvice (EVAS) contributed 13/0 of the Tn￿1,$ totsi ineome, comprisins EVA sUp￿t £80.332 and EVA trainin8 £21 J04. Desptie continuing challenge5 in a compctitive marketplace. income rrurn Service Level Agreements ISLAS) for advisory sUPPOrt rcmaiDcd strong. SLA Intome excxdcd budget by 64 but this Tnasks th¢ fac( that a coupl¢ of unpvttsni SLA5 were not renewed in September (due to Schools joining Multi Academy 'l'n]sts and being required to Switth ¢0 a diffetent advisory service). Howev¢r, the loss of those SLAS was compensated tor by a ncw, larger SLA for the CATS Global group vf 8 in(kpKtwJfflt schools. EVAS cèsh flvw was impactcd by %)mc problems with the admilli5trdtion ol the ren¢wal prttcss ajd a significant numE¢r ul Idte renewal5. Improved systrm$ have been applied for academic ycar 2024125 with early suc¢ess. EVAS trdinin¥ incotn¢ exceed￿ Wet by 4*A. However, this figur¥ snclwles the provision of SDm¢ onrroff closed cours¢s for the E-ACT MAT and Tlarking atsd Dagetthdtn council. The trEnd of lK)0￿.ng numbtts LOLf5 open courses i* reduting* primarily due lo the growth of on-line coutses so it is not exrttled thal the Browih of training income will be 5U51ained. With agreemcnt ftom the L()LTs 0￿￿00T Education Adviser was elected ts) a 2-yeaT role a5 Chair of the Midlands Panel of Ouid(K>rEdurntion Adw5ers and mcmbcr of the NAtiottal Board. In 2023. ixjth discretiotjary al￿ blanket bur5arie5 We￿ offered to Nortbwtollshjte sih()ois fullded by The Wi]so FoU￿lation. The origirtal blankrt bwsary FKhemc WdS established I￿ academic year 21122 for 2 years. ltt 2023 Jditional fimdin8 was agreed by The Wilson Foundation to extend the blattk¢t bwsary schanc until April 2024 when it agreed tbe Sche￿￿ would rnd. The blankd schcmt h&8 had A tran$foTrnative itllpact IL enabling children from Norttthmptng and Secu￿ finances 1.2 To build fjnau¥iai ￿5￿V¢S for PTvjects 1.3 To fvttthaise to enable a broad range of u5er5 to access progr8Dllne$ tht(Tru¥h bur¥ary ¥upporf Devtltsp •nd sust*ln the LOLT tearn 2.1 To build and continually dcvcli>p a stron8 and resilieni staff t¢arn 2.2 To develop aThd 5UStain 8 communityvolunteer n¢tsv4)rk Improve the eentre's bulldlngs. grouud$ f4cilitie5 3.1 To incrcasc the ccrttre's tatenng and dining capacity 3.2 To continue the ong()ing improvement of existing f￿lIttle4 ￿ rnaximis¢ th¢ valu¢ of our locatio 3.3 To develop f¥iliti¢s forn¢w on5il£ actiwtics 3.4 To improve th¢ ¢ifLrieu¥y of mainlenance prwe&sts 3.5 To Iedurr th¢ c¢ntr¢'5 carbon footpriiit 3.6 To improv¢ the ¢et)tre's ICT ¢4)nnectivity and infr&%trwwre 3.7 To improve the $ite security to d¢teT intnth5 md theft Cornmunicate the Impact and value of outdoDr lurning *nd gdv¢nfyr¢ 4.1 To advacat¢ the impact and value of outdoor learning and advtntt 4.2 To CJWJre and cijmmunicate the impact of LOLT 4.3 To d¢velop our capacity to communicate md matl(ct Iwrsclvcs eff￿tiVelY 4.4 To grow thr network of loca] advenblle provision for*¢nagers Page 5 RA)￿GTo￿￿ OUTDOOR LEARNING TRUST (REGIST_ERED NUMBEIL. 11291732) TRUSIEES. REPORT FOR THE YEAR F.iYDTr.D 31 DECEMBER 2011 ACHIEVLI￿￿ Af4D PERFORMANCE The Tnjst conrittued lo achicvc its ch￿it￿ble pul]x￿ts through th¢ followin¥ a¥¢ivili¢¥.' JanuAry- MAY: Sch(x>l residential programm¢4 holiday ctub%. cI￿lty Tcsidentiaj prograll1￿. md Holiday Aciiviiies And FIM)d IHAFI programme. Schcx)I reStdent￿ programmcs (based in accommodAtion and th¢ Gampgroundl, day visits, we¢k¢ndpro¥rartllnes foryouth or8anisatiot%. HAF programme5, community day actiwities, cljarity r¢sidctLtia] programmes. School Tcsidcntial programmts, day aTrdweek￿d pr¢wammcs for youth or8athtbaliO￿. Miy-Juty: Aug￿5t. September-D¢cember: The Summer Holiday Activity Y￿d Fixxl IFIAF) progr8mme p]r>Mdes a specific example of how thc Trust achicv&% its charitabl¢ obje¢iivv5'. 183 children were able to tske part in lh¢ prOgrarn￿ {an of 15¢Wo on 2022). progrdmrne rdn for 9 days acTOSS 2 weeks in E*st¢rand the surnmer holidays. Children had tlle oppominiry ro cngage in a rdnge of thenttrous and outdoor activities both on.siie l¢.8. pa￿¢￿rding. archery. high ropes wwst5, shelter building) and off-site (gorg¢ wa]kin& rock climbing). For Tnany children thi5 thcir fjrst oppornsnity ¢0 Expaience thes¢ aNiviii¢s and spend rime in the outdooys. This was particuIarly $i￿lf1¢ant whEn 5rL agains1 the impact of the cost of ts.ving ttisis a[￿ the impact thi5 particularly bad on financially di5advatsrag￿ t3Tnlll￿. The activities on off¢rwere bDth ellriGhiug and physical. H¢alihy hoi meals weR ￿0vi(￿d for the children each day, with Childrth aLs0 Icarnin8 the skills of prcparing their own sandwidw for their I￿￿￿. This 1$ atj ¢xrwpt from one of our HAF case studies. stioD: What hos beeTJ the impa¢t? 'Participating in a whole day of aciiviti&s it) an llrtfatniliar setting with new adults ond peers is 8 huge achievement for JB. Whcn cncoura8ed to rcflect on the day h¢ reacted positively, stating thaL he had made two ngw frien(L5 Thad an awesomc tijne,. He WLS able tD frel proud of his 5ucccss and exprc8sed that he'd like to come back to LA>ll8town for Tnor HAF 8essioll5 in th¢ future.. JB'5 parems were extrcmely gratthl explained Itow rare it w•$ tha¢ ajl of their ¢hildren could participa* ond enjoy Ihcmsclvts. Page 6 LONGTOWN oirrDOOR I.EARNING TRUST {REGisfERED NUMBER: 11291732) TRUSTEES. REPORT OR I'HL YEAR ENDED 31 DECEMBER 21)23 FIP4ANCIAL REVIEW Fittartcial results forthe yew ended 31 1)ecember 2023. Residrntial educational course ll￿ome was £567,462 with only £494,832 in 2022. Income frorn non-rcsidentbal aucational row5¢5 d¢Gr¢a%d. frorn £46.564 to £31277. Educa¢ional Visits Advisory Service in¢otne increased to £80.332 for athce1swj￿ (£70,188 in 2022) and £21,304 for training {£9,430 ￿ 2022). Self4aterits8 illcrwcd to £18.5181£6.727 in 2022). The wil￿)n Foundation pmvided £58.028 of dotJation5 lup frnm £47.8{￿ itl 20221. This tDcludcd 'blznk¢t buTWi¢S' for all NOrth￿nshIr¢ Ir¢slricted fimds). An inerc&4e in some whole5a]c prices, due to Blobal rvents such a5 the w¥r in Ukraine, affe¢*d mAny al￿5 of the Trust's operation. Iltilities and pro￿rty rcpaiT5 rose ((￿iderablY. However, cost of sale8. thclwlthg wage5 and freelance costs, incretsed irt lin¢ with iurnov¢r. LOLT made a su]plus of £174.722 in the year to 31 lknember 2023 ¢ompatYd y4th a sun>lus of £176.673 in 2022. Th¢ 5uJplus wa5 achievd because of all ihe hard wurk of th¢ staff over the year. The 5urplu5 is reflected in the increa8e itt cash held at V2ri(Ms bHftk5 by LOLT which incrc&sed from £458,824 at the end of 2022 ￿ £642.055 on 31 De¢emb¢r 2023. Re5erv¢s Unrcstricted ￿sc￿eS itttrcascd hy £ 174.139 over the year. Restricted resejwes inc1y￿d by £583. On 31 D¢ceTnbcT 2023 the charity hcld total rcsuvcs of £615,451 12022 - £441,729) of which £644 {2022 - £611 ￿lated i() rtslricted r¢serve5 and £615,807 {2022 - £441,668) of ullt¢$tn¢t¢d reservES. Frce reserv￿ lullrcstricod ]￿t CUTr¢ni 855ets/lli8biliti¢s)l at the year-end amoun*d ￿ £589,88212022 - £420,038) Voluntttr eonlrlbutlo LOLT h&5 continlled to benefit Kignifitantty from Iwl Conneaions and 5UPWrt during theyear. In additton, Tnjst¢EsJDi￿kn providcd in exc￿5 of 250 hours of volunteeriiig titn¢ to the rLuuJing of the Thjst. HoweY¢r, there 55 general agrecment that this is llot a suststhable mthl. Our actess and bursar) polieies LOLT 15 a charity wbi¢h s¢¢ks ro benefit th¢ pllbli¢ through the pursuit of its stated ainLS. Our fees arc ai a Icv¢l etLsure the financial Viability of rh¢ Ttusi whilst being con5i5tent with our aim of providing a first class expeHence to all participants. Th¢ Trusl welcomes participants from all backwunds. The Tr￿t 18 Committed ltr salcgudrdmg and promotin8 the w¢lfar¢ of our participants and ￿pects all staff and volunteers to shar¢ this £ommirmenL We always provlde customer feedback qllestivllnair￿ at the end of all courses for compleiioll by pani¢ip8nts' s¢hoo15 and ¢TnployeTS. The comments Tec¢iv¢d are tsk¢n vrry seriously and all questionnaires are reviewed. We are coyjstandy striving to T[￿e Sure that ow oiir5¢5 arc link¢d to relevant objeciives and proyide a tn￿Y educational bEncfit fw partiLipants. Wc bets.eve our participaois bcttefit from learning within a diverse community. A w dral of learning occur5 through social inieractiou, c¢nveTsation and 5har¢d experience5 which help5 our participants develop an l￿derStaNdIng of the perspectives of other people that will be vitsl in theiT adult lives. Thc Tru5Loffcr two IM]rsarics.' The Wilson Foundatiorl Burs￿. r￿children from NOrth￿pi0n$hirC, fimded by The WiL%on FOwUL￿10n. The Longtown BuT5ary- for children from Hercfordsbirc and otber courtties, fithded frorn ihe TNsV5 gener￿ ruth. Page 7 LONGTOWN OUTDOOR LEARNING TRUSTLREGISTERED NUMBER: 1129173Z TRUSTEES, REPORT FOR THF. YF.AR EIYDED 31 DECEMBER 2023 Our bursary policy contribuw to a wid¢ning of acce55 to the eours4s we off¢r ond the fa¢ilitiGs wc Lljjoy. The ffiL8trt8 vicw our bursary awards illworlanl in bclpin8 to ensure young pwpk familie5 who would not otheTh/is¢ be able to afford the tees are able to a¢￿sS the courscs we otrer. OUT bur50ry awards ￿¢ available to all tneel our requirements. Thc bursary 2V/Ards provide up to 3￿/0 remission of course fets dcpenth'ng on the flnancial CirCuTh￿ranCc5 of the young pwTrl¢ in q￿stiOn. ReserytS PDliry Th¢ holdiJ)g of a ￿er¥¢ vrill allow LOLT to plan for the ￿t￿re - aF￿]n8 seEba¢ks Tnaxirni5ing opwLurrities inth￿l￿g.. - To fUT￿ ￿eXpected cxpcnditure. forex8mple when projects ovemm, or uDplanned ￿¢nL1 ￿¢7￿. - Tu fuTLd shortfall in tncom< when in¢om¢ do&s [￿l teach expected levels. - To accumulate fimds for majorproi¢¢Ls or Evenrs. Having takco stock of praeticc morc widely in the 5eclor rxternally. and considered various factors ititwually, including analysing income And expendifure trends and risks, it has been agreed by tsu5tees that LOLT will estsbli5h sufficient free T￿eS to prnvide cO￿T for a Tninirnum of thrcc montlks expendirure in relation to knowi liabiliiic8. Investment Policy LOLT adheres kn the cthictl invcsthjenl policy rwdations of thc Cowve Bank and Monmouthshirc Building Society. Buslness Rlsk Msn8gem¢DI LOLT h&$ a Busines5 Risk Management Policy which i8 Jrvi¢w¢d anTNally. The He4d of Centye is Te8ponsibl¢ for the overall managetnenl of LOLT'S operatio1￿ and activiti¢s a￿d associated risks. A summary of the m05¢ siguific4Dt busin¢ss risks and thcir mitigatin¥ controls is h¢ld on a Risk Register which 15 reviewed atyd uFtht¥(l on u six tXLonthiy b&5is by the Board of Tn￿te&$. The ￿litie&S tisks JrE c￿￿idered ill five sections - Cust0ll￿ Orkration4 Staffj FiDan¢e and Buildings. Those busme acliYilie5 Wltkn a residual risk ratitjg Meth"um (x above are coDtillU￿sIY monih)rol wAth th¢ aittl of addiDg mitig41ing corttrols to reduce rntin&s to Low. Safeguardin The growth and development of children 4T￿ young people in a saf¢ and 6timulAting enmrotmient is right at thc heart of our bclicfy and operations &8 an organi5alion. As such. safe8uaTdinB is an important part of our op¢r4tions - day to day and at a 5trate8J¢ level. We hav¢ dev¢lopcd a Safeguardin8 Policy rv r¢fi¥¥t thi5. which is chccked and llPdat￿ at least yearly and C8D be viewed on ourwcbsi Ddrdlslng Approach Ind Perforniamct The Pr￿Cl￿d ar¢a of succe&s fi)ndr￿sing hLS b￿￿ that of ¥4)plying for and re¢¢iviug fund5 fro￿ Herefordshire Coutjcil to dclivcr thc Holiday F￿)d and Activity {HAFI programmc. Each HAF fi￿ding aw¥d is COTLling¢ni UF4)n the submissioo of a re]kn thai cvalllates the Sur￿55 of thc programm&s. RerKJtts have been COTnpleled and subm2tttd for E&ster, Surnrn¢r and Winter 2023 sdentifying ¢onsidcrable succe&% &swell as sugg¢stion5 lor improvemenL Going Concern LDLT TnLStecs have a tras0￿bIe upecwion thai the ehariry h&s adquate resources to wnrinue in operntronal tXLStencc for the fotu¢eabl¢ futur¢. F(Y thi's reason they ¢ontJnue to adopt the going conccm b&8is in p￿Par]Ilg the fU￿D¢￿al statements. The continuing ti14)act of the ottgoing general economi¢ ¢lima* addr¢55￿ and updated through the LOLT'S business risk managcmcni proctsse5. Trust¢¢5 have careEiLlly considered the impct <>f sharply risiD¥ energy. fv¢l and fwd price5 on the charity's Cost b&5¢ aE]d the ability of parents kn pay ci)UT5e f￿5. ThL5 is monitored regularly and Incr￿5¢$ in feas from Aummll 2023 ortwards have heltd mitigate the increase itl Costs. There rcm8ins trading uncefiainty f¢x 2024125, bui Thiste¢s believe that a combination of a loyal base of r￿idential and Educational Visit Athce customct a coniinucd expansion of day, evening and short.br¢ak bwkings, suppjrt from the bursary scheme& and sutTicicnt bal￿￿e shttt resources ]nean that the chan'ty will be able to COtitinu¢ to meet customer reqvir¢m¢nts and ongoiDg liabiltties for the foreseeabl¢ fvturt. PiAns for future perfods We will cot)tinue to deliver ow Sts3tr8iG plan for 2022- 2027. with a fiKus on the following key P28e 8 LONGTOWN OUTDOOR LEARNTrIG TRUST LREGISTERED NUMBER: IJ291732) TRUSTEES, REPORT FOR THE YEAR ENDED 31 D￿.cTr.￿B￿R 2023 To develop a stTr)n8 and rtstlieni t¢aJn of ¢rusttt5. cmployecs, volunlcers and freElatK¢tE. 2 To investigate options for rep￿r￿)Sittg ourexistittg frd¢ilitie5 to enable us to promde a modem commcrcial kitchen, 3 To cnsurc we continue to r¢ath childraj and young p¢opl¢ ihot might otherwis¢ mi&s out on opp¢ylunities to build thBtrehardcter3nd r¢5ili¢nc¢ duc to f￿ancial hardg￿p, disability, or social LircuD]blallc¢s Poge LONGTOWN OUTDOOR LEARI%ING TRusf.LREGISTERED NUMBER.. 11291732) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 STRucfuRE. GOVERNANCE AND MATrIAGEMENr Ineorporldo Longtown Ould￿)r L¢arning Trust (LOLT) is a regis￿led charity limited by 8Uat￿tte, intOTPDTat¢d on thc 4 Apnl 2018. Th¢ cowany coD]Lenccd trading on 23 S•lM 2018 and obtained fi]11 dwity stattk8 and registration with the charity con￿lssion on the 16 O¢tobET 2018. Gov¢rnlng DotUToent The Gov¢rning do¢umertt of LOLT is its Memorandum and Articlr5 of As50ciatiotL In setttng object1￿5 and planning our a¢tiviti¢s, th¢ trust￿$ have given carthl considerniion to the Charity Lotllrni5sion's gffl¢ral gui(lanc¢ on public benefit attd in partiCu￿r to its supplem¢ntary pub]ic benefit guidaTJce on advancing cducaiion and on fee char8ltl8. Our Principles of Gov¢rnance document scts out how the day to day martagemenl of the tN5t rakc5 placc, high11ghting where responsibility lies for decision m8king in g¢neTai and sp¢£ifi¢ally fi)r c¢rtain govemartce are&4. and also ide#tifies a trustcc Icad atsd linked tr￿1<¢5 aDd stsff for each ¥re& This d0￿ment is u5yJal¢d regularly as In￿¢¢8 2nd sthff chan8e, bui at le&%L every thretyears. Appolllttnent of Trn5tee5 Thwughout the y¢at we have met regularly to suppDrt LOLT 4nd ¢Twre it conunues to thrive and b¢ wrll rnaT￿ed a5 a charitable business with good governance and operarional procedures. We continu¢ to upda¢e and develop proccdures and policies lo enable thc smTh)th and safe running of LOLT. follown8 a plan ¢0 ensure all appTOPri&te policies and pmcedur&% arc rcncwed reglllarly. The wrrent t￿￿¢¢￿ listed on pagc onc, arc also the director5 and membrTr ut. Ibe company. Tbe liability of m¢mb¢is is limiird gjjd thcir individual limii of gu8ran*e is £1. Ttlere are no memb¢rn of Thc Tru51 who are noi tn]ste&s. The Board of Dircctors shall ¢oTh%ist of a minimum of 3 ttudees. c￿￿tlY at the date of thi5 LOLT has 9 tnsSt<¥s, appointrd for their skill$, ex￿￿¢￿¢¢ and commitment. New tsust¢¢s ar¢ cl￿ted at the AGM or by the bcArd at 2 r¢gular tn¢eting and serve for a p￿70d of 3 yews. Thereafter, tru5ttt5 tnay be r￿e1cct￿ for one furthcr tertn of threeyean. Tntstre8 may serve for fi]rther perio&8 of 3 years ottty if agTttd by the ljoard Onee a tsustee rtire5 from the Boar h¢15hE TDay not 5raTwJ forre-apw>inim¢niiKfor¢ the lapse of a minimum of one year. During thc year, 6 t￿te&S resigned frDm the Boary] Jnd 3 new trustees were appointsl. At th¢ AGM in Septernb¢r, Tetired and were ¥e-a￿ill￿d as tru5tccs. Trust¢¢lndMcdon aDd Tr4lnlng The key element Df thE induction is to ensure sound und¢rststhJin¥ of the charity5 Illl&%ion. viston. valu¢s and strategy as well ￿ thE legal obligation5 uf trustees. Thc induction process for Tru5t¢¢s involves a combination of pro￿lS1Oll of k¢y do¢uTnents plu5 commuThLcations and facc (o fatc disc&%gions with key strdff and Trustee represcThratiYc&. Or¥ini5Ation Trusttt meelin85' thke place once 4 quarter aThJ &r¢ SUPFrf)rted by the proc¢sses And policies outlined in the Prmciples of Ar the quarterly tsuqtee mee£ing& the trUS¢ee5 agree the broad strategy and areas of artivity for Lon￿oWn OuthDr Learning TrJsL including re$¢tv¢¥, risk perfonnaDce. The day w day administration and managemcni arc delegated to the staff le￿. with supwrt provided by tntstr¢$ as ll£ce55￿. Thc Director and thc Chairnf the Tn￿re¢S communicate on a Tegularb&sis {usualty weekly). Page 10 L0Tr4C.TOWN OiJTDOOR LEARNING TRUST REGIStERED NUMBER: 11291732} TRUSTEES, REPORT FOR TIIE YEAR ENDED 31 DECEMBER 2017 Remlln¢r•tlon pollcy for stiff a￿d ¢rustee$ All ffi1ste￿ volunteer their ttustee time on an un-paid b&81s. Wh¢n ttusttts undefflake WQTk for LOL"r in a professional capacity th¢y ar¢ pwd for th¢ work on a commercial basis which. in *C￿rd￿n¢t with Charity Commission gllidclin¢& is agreed by rsolulitsn at a ¥¢n¢rai m¢etingand rnlnutr￿ and paid w W¢SEnlati¢)n of appropriate invoi¢¢. Durin8 the year Mr M t) tr￿er, a tsust¢q piowikd ron5ultsncy Services for the sum of £J,MO (2022- £IOII. A dis¢wnt is off¢redio uwstees wh¢n iKX)knng thanselves orth¢]rd¢p¢ndants on courses offered by LOLT. The pay of th¢ 5trff is r¢vi¢wed wnnually with the of the BoaTd *]d is ¢(Insidered in line with th¢ gromh of the org8nisatioD alongside b¢nch-markin8 ￿7th1n the sector. Rdxted partiu and other ¢barldes vryani5atffion5 The TtuslecslDircctms ¢ontinue to develop good relationships with The Wilson Fowidalion, and ate very *flll to them for thcir ¢(￿tinUed supportand development of the site. STATEMENT OF TRUSTEES. RESPONStBILrriLs The trnst¢es (who are also the dire£iors of Longtown OutdoDT Learning Tr￿St f{￿ th¢ pyrp)ses of ¢omp>ny law) are responsible for preparing thc TNstees' Eiepart and thr fmanLial 5tat¢rnenrB in accordallce with appli¢abl¢ law and United Kingdom Accountittg Si8ndatd5 IUTuid K￿gdoJn Gcncrally Accepted AccounutLg Prdcticrl includuJ8 Fillaneial Rwrting Stsndord 102"Th¢ Finortciaj Reporting Standard applic8bl¢ ill the UK and Republic of Ireland" Cotntvdny law rquir¢5 the tn￿¢S to prepsre financial stat¢ment$ for finoncial Y¢￿ which give a tsv And f8ir view of the state ol. affairs ol. the charitable company atml of the ￿￿o[n￿g rc50urc¢s and apphcatiull of resources. including the incomc and cxpcnditure. of the charitable company for that period. In preparing thosc fjDanciai st*m¢nts, trustees are required ro select suitable a¢LtiUlltD]g poli¢ies /ttd apply kn ¢onsist¢ntly; ob$ctvc th¢ m¢th5ition of the chaJitAble company and io cttabl¢ them to ensure the finznctal statetncnts COTTrply with the Companies Act 20(￿. They ar¢ a]so responsible Safegua￿ing the as8ets of the C1￿7t￿ble cotllpamy ond hence for takittg rea%otJable steps for the w¢v¢ntion and detection of ￿ud (Jih¢r inegulariii¢s. This report has been prEpaTed in accordancc ￿7th ihc spccial w*wsiotJ$ of Part 15 of the Cornpanies Act 2(M)6 relating 1¢) str￿17 cornpalli¢5. Approved by (>rdcr of ¢hc board of ￿Slee5 1)n 5 Seplemlxr 2024 and signed on its behalf by.. Mrs F H Dickson (Chairnwi)- Tnjsttt Pagell INDEPLNDENT Ek4MIYER'S REPORT TO THE TRUSTEES OF LONGTOWN OUTDOOR I_.EARP41NG TRUST (REGISTERED NUMBER: IJ291732} Indep¢nd¢nt CX4￿1￿cr'5 report to tbe tnLStees Thf tA)ngtown Outdoor LearningTrnst I'the Company,) I rq)ort IL) the charity tN5tees on my examinauojj of the accounts of Ihe Company for th¢ Y¢arend￿ 31 Dei£mber 2023. Rt$ponsibilities and basil of report As the charity's trustees of the Company (and also its dircctors for thc purposes of rowy law) you are rcswible for the Preparation of th¢ a¢¢0￿￿ in a¢corth¢e with the reqwrements of the CompAnies Aet 2LX)6 Ilhe 2006 Act). Having satisfiEd Iny5¢If Ihal the accounts of the Comp*)y a￿ tx>t T¢quifEd to be audit¢d under Part 16 of 2W6 Act and are eligs'ble for indEpEndcnt examination, I report in Tespect of tny examination of your clwiry's a¢¢ounts caTried out undcr Se¢tion 145 of the Charilles Act 2011 I'thc 2011 Acfj. In caryin8 Out my cx2minatii)n I have followed the Dire¢tsoll5 given by the ChaTity Comm￿S1OU undcrkntion 145151 (bl of the 2011 Act. Independent exarnlner's ststement Since your charrty's gro&s income excethj £250,000 your ￿a￿]ller must bt a tnuub¢r of a liS￿j body. l Can confm that l am quaisfied to undert￿C thc examination because l am a member of the A￿claU0￿ of Chart¢r¢d Certified Acc¢)wirant$, which is one of the listed knlies. I have cotnplcEed my Examinati(m. I confimi that no matters have cotne to my att¢Dtiim in COMI￿tiOn wth the ¢xamina¢ion giving me cause to bclicvc.. accounting record5 wcre not kept respEct of the Company &s Tequircdby Sealan 386 of the 2[￿ Acl or the accounts th> noi accojd with thosr records. or the accotsnls dv Dol Comply with the accounting requirenJeJlls vf S¢Ltion 396 of the 21KK Aci other than any rcquircmcnt that the arwunts give a true aod fair view whirh is ￿0( a mo¢*T considercd as part of an It￿¢￿enden1 cxamination., or the accounts h4v¢ not been preparcd in accordance the mdhimjs and principl¢s of thc Ststerncnt of RecotnnJ¢ttdul PraciiLe for aceountjng at￿ reporring by thariii¢s lapplicablc to ch8ritiL% prq)anttg their accounts In accvrddnc¢ with the Financial Reporun8 StandaTd dppliL4bl¢ in the UK and Republic of Ireland IFRS 102)). I hav¢ no ¢on¢¢ms and have come acTOSS no other matt¢rs in eortT*ction with the ex￿nin*￿0￿ lo whiGh attention should in this report in ord¢rto enable a proper undetsttsnding of the accounts to be rcachLNI S A T]ndail The Asso¢iaiion of Chart¢Ttd Certified Account8nts Lockett & Co Chartwrd Certifid Accountat Shelton House Coningsby Street Hereford Hereford5hire HRI 2DY 12 SeptemFKr 2024 Page 12 )NGTOWLY OUTDOOR LEARLYThG TRUST STATEMENT OF FINANCIAL AciivrriES (JNCORPOK4TING AN INCOME AND EXPEND]TURE ACCOUNTI FOR THE VEAR ENDED 31 DECEMBER IUZ3 2023 Titsl fith(ts 2022 Total fimds Unrcstricied fijnd Restricted otcs Jr4COME AND ENI)OWMEiYfs FROM tknwtions 8nd l¢ga¢i¢s 3,388 55,317 58,705 57.632 Ch*ritsble 4ftivit1¢5 Cthtre ￿tiVitieS 3JLd bookin85 700,375 700.375 621,014 Oth¢r trading activities Investment income Othcr income 29.106 9,572 683 29.106 10,155 683 12.563 5.383 767 583 Total 743,124 55,91NI 799,024 697.359 EXPENDITURE ON Ch&rlt•ble actlvltks Centre athivities and b(M)kiDgs 546J84 55.317 601,701 509,400 Other 22.601 22.6AII 11226 Totsl 568,985 55J17 624,302 520.686 NET INCOME 174,139 583 174,722 176.673 RECONCtLIATION OF FUNDS Total bwught futward 441.668 61 441,729 265.056 TOTAL FUNDS CARRIED FORWARD 615,807 616,451 441.729 The noi¢s torni part of th¢se fuwicial statcmcnts Page 13 LONGTOWN OLrrDQOR LEARNINGTRUST (REGISTERED NUMBER: IJ291732) BALANCE SHEET 31 DECEMBER 2023 2023 Total 2022 Total funth Utsrestriclcd fund Rcstrictal fi￿d FIXED ASSETS Tangible &ssets 16 25,925 25.925 21.630 CURRENT ASSETS Stock5 IkbtOT5 C8sh at bank and in hand 17 1,320 56.544 632,860 1,320 56,544 643,29 651 67,678 458,929 19 10,438 690.724 10,438 701,162 527,258 CREDITORS Amounts fklling du¢ wirhiD one year 20 (43.0251 (43,0251 146.994) NET CURRENf ASSETS 7,699 10,438 658.137 480264 TOTAL ASSETS LE&S CURRENr LIABILITIES 673.624 10,438 684,062 501.894 ACCRUAIS AND DEFERRF.D 1Tr4COME 22 {57,817) {9,794) {67,611) {60,165) NET ASSETS 615,807 616.451 441.729 FUNDS Unrestricted fimds Rcstrictrd fuDds 23 615,81J7 441,668 61 616,451 441.729 The tlwitable ¢OTnpany i5 entitled to exemption from audir under Section 477 of the Companies Act 2(1)6 for the ycar ¢TKkd 31 Dccember 2023. The memkn have not required the ¢tsrnpany to obtain an audii of its financial slatcrneTLt5 for the ycar entsl 31 December 2023 in accordance with Se¢ts¢)n 476 of the Companic8 Act ?IK)6. The trustres ack￿ledge their responsibilities for (al erk%urkn8 that the chaTitable keg￿ accounting recor& thai totnply with Sections 386 and 387 of the Companic5 Act 2006 *Jd prepaTill¥ fillanrial 5tat¢ments which give a I[￿e and f&ir view of the state of affairs of thc charitabl¢ Gornpany as at the eod of each fiDallcial yvdr alld of kts surplub ur dEfirii fur each f]nanci￿ year in ac¢ord2ttr¢ with thc rquiremBnts of S¢ctions _194 and 395 and which olheThvise comply with th¢ requiremenrs of th¢ Cumpanies Acl 2¢M)6 relating to financial stalements, so far &$ applicablc to the charitsble company. (b) Thenotes fonnpart of these finan¢ial stat¢m¢nts Page 14 eontinued.. LONGTOWY OUTDOOR LEARNING TRUST IREGII TERED N MBEB: 11291732) BALANCE SHEET. tontin•ed 31 DECEMBER 2023 These fmancial 5ts(ernenL8 havc i)ccn rryarcd itt aeeordanct with thc prowsions applicable to charitable cornpanies subjcct to the small compBnies regime. Thc financial stalenents We￿ approv¢d by the Board of Trustees and authorised for issue on 5 September 2024 and werc signed on its behalf by.. Mrs F H DJ"ekson (Chairman). Tn The llo￿ fomi part of these finaTLrial 51at¢srKDt5 Puge 15 LONGTOWli OUTDOOR LEARNING TRusr CASH FLOW STATEMEf*T FOR THE YEAR LYDED 31 DECEMBER 2023 2023 2022 Cash flows from operatlng aetlvltEes Casb genera*d from opeTarion5 Int￿51 paid 191,778 190,266 (85) Net cash provided by orffllin8 activitics 191.778 190,181 Cash flows from Investlng 8Ctiviti¢5 Purchas¢ orw1￿ble fLxcd a&s¢ts lrtter¢st reccived 110,921) 3.512 {I,O(K)) 143 N¢t cash u￿d in investing activitics (7.4091 (857) Chattge itl Cash and rash equlvalettts I the reportlng period C￿h and £0sh equiv*leDts at the b¢glnMlnE of the reportthg peri￿1 184.369 189J24 458.929 269.605 Cxsh cash equivalents at the end of the reporting period 643298 458,929 Thetjotes fonn PArt of financial 5tat¢]TKnts Page 16 LONGTOWN oUTD￿R LEARNIIYG TRUST NOTFS TO THE CASH FLOW STATEMENT FOR THE YEAR ENDb D 31 DECEMBER 2023 RECONCiUATION OF NET INCOME TO IYET CASH FLOW FROM OPF.RATING ACTIVITIES 2023 2022 Net kncorne for the reportlng perlod l*$ per the S¢a¢emeni Of Flnandal Attlvltles) Adjusttnellts for: Lkyrcciation chargL Interest received Intertst paid IInGreas¢ydr¢reasr in stock5 DecreaKI(increa5cI in debtors Increase in ereditots 174,722 176.673 6.626 13,5121 7204 {143) 85 1.553 (16.7971 21.691 (&$9) 3,477 Net cash prO￿¢d by operatlo 191,778 190266 ANALYSIS OF CHANGES IN FUNDS Atl.1.23 At31.12.23 Net ta5h C&sh al and in hand 458.929 184.369 643.298 458,929 184,369 643298 Total 458,929 184.369 643298 The noos fonn part of these finanrial $tatemcnt$ Page 17 LOIYGTOWN OUTDOOR LEARNING TRUST IIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ETrIDED 31 DECEMBER 2023 GENFRAL INFORMATION The choriry is 4 private ¢ompany limityl by guarantee. registered in England and Wales. The charitablc company's regjstered ttumbEr and reg15t¢r￿ offic£ addr￿8 can be found on page l. Thc mcmbets of the ¢batitable ¢onwaDy are the tDJs*cs nat￿￿ on page l. In the event of the chanrable comp2rny bring wound w>. the liability in rspect of the guarantee is limitcd to £1 per memberof the compatry AccouNllNG POLICILS Bth of PTepATrlDg the IIDan¢lai st4t¢m¢nts The finan¢ia] statetnellts of the Gharitable CL)mp8ny, whiLtL 15 a publLC benefit cntity unts FRS 102, hav¢ prepared ll] accordance with thc CharitlC5 SORP {FRS 102) 'Accounting and Rcportin8 by C&EanLi¢5'. Stsietncnl of Re¢omm¢nded Practice applicable to tharities PTWtJg their atcouttts in actordance ￿7th the Financial Rep￿ing Stand¥Td applicable in the UK and Repllblic of Irelat)d IFRS 102) Icffectivc l January 20191., Fina￿claI Reporting Stsndard 102 Th¢ Finan¢ial R¢porting Stsndard appli¢abl¢ in th¢ UK and Republic of IrelJTvJ' and the Companics Act 21M)6. The 61w￿la1 stttements hav¢ lye¢n Ewar¢d under the historical ¢osi convention. The financial statrments are pre8¢nted in strrling w1￿ch is the fiJn¢tiottaI currency of the charitsble compBny routNled to the nearest rK>uDd. Intome All Inc(￿[1¢ i5 rccogni5ed in thc Statcmcnt of FD7ancial ActsviLi&S once the ¢harity has entittement to the fiJ￿As, it is probable that the iticome will be recctved and the amount w be me&su]YJ reliably. IncoTn¢ tsx ￿CoVerable in r¢lati¢Jn ts) dun81ions reeeive4 Gift Ald or deeds of covenakt is recognised at the tinle of the donats'on. Government GrAnts Government grants art r¢cvgni¥ed using the perfornmntt A￿de1 sre creditcd ￿ the Statement of FiTwicial AL'livsuts the relate4 expendiwre L$ lllcutrt d¢ferred element of grdllts is illcluded in LTeditOTS as defcrrcd itKome. E4Kttdltsre Li¥bilitivi are recogtLi5cd &s expenditure &8 PA)on as th¢r¢ 1$ a l¢gal or ¢ortsttv¢tive obligalion committing thc chariry to expenditure, Lt is probable thai a transfer of economic b¢n¢fits will ir r¢quired in settlement and the amount of the obligation can be nw¥urrd Eliably. EX￿￿￿tUTe 15 accounted for on an accnw]s b&%i$ 8nd has been cla&sified under htrddings that agBrcgatt ail corf related to the category. Where costs cannvt br dirE¢tly attributcd to partieular heading4 they h&v¢ bccD all￿ted to aclivitics otl a b￿]S Co￿lStent with th¢ us¢ of All expenditurc is lnCL￿￿IVC of irr¢cov¢rable VAT. Grnftts offered suhject tth conditions which have not FKen met &t the year end date r no(ed as a committneni but nota¢¢ru¢d 05 ¢xpEThi]'tUTE. T4ngiN¢ fixed a55ets Tangj'ble fixed are stated ￿ cost le55 accumulatcd depm"atiott and accurnulalcd impairnient I￿s&s. Itcm5 or .4￿cIfiC gTOUP of iterns cosung more than £5￿ that sre considewd to hayc a usefv] life of lon8cr than the fmanciai period in whicll they w￿C purchasL71 arc capita]ised. Drpreriation 15 provided at the following annual ratrs in order to writc off the eitst of ea¢h asset le￿ its astimatcd Jrsiduai value over its cstirnatcd uscfi]] life. Motor vehicl¢s Plant and equipment OfficE fi]rniturr aTHJ ¢quipn*nt - 25Yo on reducing balance - 25Vo on Tthlucing balanee - 250/0 on reducing balance Page 18 Continued... LONGTOWN OUTDOOR LEARLYING TRUST NOTfS TO THE FINANCIAL STATEMENTS. conthued FOR THE YEAR EI¥DED 31 DECEMBER 2023 ACCOUNfING POLICIES- t•Rtinued Stocks Stork5 or¢ valu¢d ai the lower of ¢ost And tkt ￿ltSabl¢ value, after makitig due allowance for obsolet¢ and slow nwving itetThs. Fund accounting G¢neral knds are u]Jrestric￿I fijjth and ¢an be ill a¢cordattc¢ with th¢ ¢haritabl¢ ObJ￿￿v¢S of the cknity ai the dis¢reLi¢)n of ihe R¢stiirted fiJnd5 Dnly be US￿ for particular rastrirt￿ putpos¢s within th¢ objeds of the chan'ty. Rastsictions i5e whcll specified by th¢ donor orwlKn fur¥J5 arc raL5cd for pthGular r￿triCted purp05e5. The aim and use of each restricted f￿d is.. Th¢ Wilts.¢￿ Fvundatioll Bursary fulld is tvr thLe puwDsE (Trf ￿vitig r]na￿lalIY di5advatttaged children and youn8 F¢rsons who live in Northamptonshire K¢ess w ihc rcsidcntial courses nm by the charity. Penslon ¢osts *nd otber post-rettremellt benefits The charitable COTllpany operates deflned cotllribulion p¢nsioD schernes. Contrjbutions payable to the charitable companys pension schemes are chargcd to Ihc Sthtrmcnt of Financial Activititss in the period to ￿thieh they relatt. Dotsxted goods and senl¢es Assets donat¢d ¢0 th¢ GhaTitabl¢ off re¢ognised 8t th¢ poits¢ of doDatioD, and at their mark Jtt accordance with the Charities SOiiP IFRS 1021 the value of services provided by volunteers is not Teeognised. The Tn]s*es atmual report contains ffi￿rt￿r infornuiion atrrf)ui the invaluable ¢onlnlwuoD provid￿ by volunteers. Debtors Trad¢ 4nd other dcbivrs are recogEused al the seillem￿l amounl after any trade discount offtred. l¥¢payinen re valued at the aTnounl prepaid net of any ttwje discounts due. C￿h at bank and kn hand CLsh at hank And in hand incllldeg attd thort *mi highly liquid investh)¢nts with a $hort mothrity of three months or l¢ss from th¢ of acquisition or openitlg of the dep￿lt or similar a¢¢OUnL Liabilities and provisions Liahilitic% are rccogni%d when there an obligarion at thc balance 5hect date as a result of a past cven( it is PTobable that a transfer of economic trKnefit will be rwired in sddemenL and the amount of settianen( i*n be ¢stimgted r¢liably. Liabiliti&s are recognised at the amount that the charitsble eompany anticipates it will pay to settle the debt or the amount it h&s re¢eived as advan¢¢ paytmits forgwds or setvices it wowd¢. Provisiot)s ar¢ m¢asur¢d 81 the best ￿lMa* of th¢ aDwunts required w settle the obligaliotL Flnxndal Instruments Fujancial a&sets and ￿ab]IllINGTOWN OUTDOOR LEARNtNG TRUST N(YfES TO THE FINAf*cIAL STATEMENfs- tont1m￿ed FOR THE YEAR ENDED 31 DECEMIIER 2023 io. (rrHF.R- continued 2023 2022 Total Unre5trtcted Restricted ds fithds Brought foThYard Motor expeD5es Repairs and Tenewa15 Cleantng matctia]s al￿ w￿¢ di4wal Training SulJsisten¢¢ HEa]th safety Cornputcr cxpeLscs Sunthy experLS&8 Subscriptions Payrull buTEaU Bookkeepll 19,238 600 425 290 164 17 295 254 99 89 105 86 206 429 19,238 (A)0 425 290 9,570 312 87 145 306 17 295 254 99 89 105 86 206 429 171 56 37 SS Accountancy l.egal ond PTof¢5sional frcs BvJth charge5 Dq￿eci&tl0n Interest payable and similarch 98 297 297 22.601 22.601 11226 NET TNCOTrtFJffxPEf￿ITuRE) Th¢ nel illWm¢ll¥xpwdilu￿) 15 ¥ts*d after C￿￿¥]ng the following exceptional it¢m: Bad debts £3,541 12022- £7081 IL TRUSTEES. REMUNERATION AND BEYEFITS 2023 2022 Tnt%(e&%' 88]aTiCS Trn5tf¢5' social security Tru5ree5' pension contribuuon5 to money purchase schemes 39243 2.890 2585 47.190 3.459 5J39 44,718 56.188 Mr M S F&wcctt a trLkStee. is employed and Temuncrated by thc chaTitablr rompany iTL his capaciLy ￿ an employee &$ permitted by th¢ arti¢1¢s. Dthils of his remuneration is stated above. No othcr trwtees were remunET&ted or Tec¢Lved benefits. TTUSttt5' e￿enSeS There were no tsusreeg ￿penS￿* paid for the year ended 31 Decerni￿ 2023 nor for the year ended 31 Dcc¢miKT 2022. Page 23 continued... LONGTOIVN OUTDOOR LEARNING TRUST NOTES TO THE FINANCIAL sTATE￿￿L￿Ts-￿￿tkn￿¢d EQR THE YEAR ENDED31 DECEMBER 2023 13. STAFF COSTS 2023 2022 Wages and 5alaTi Social security costs Oiher pension costs 25_3,021 12242 8.946 201,327 9,098 12,086 274.209 221511 The aver88e monthly numlxr of employees during the yegxwas &% tollows: 2023 2022 MaDagenMt Tutors Dorn¢stic sthff 10 No eTnploye¢s rc£civ¢d ¢tnolum¢Trts Tn exces5 of £￿.000 Tota] twstee and key rnallagcmcnt peTh)nnel remuneration and benefitswere £79,109 12022- £56.188) J4. COMPARATI￿ FOR THE STATEMEi¥T OF FLNANCL4L ACTIVIT un[￿tricted fund Rcsknctcd fund Total fuN INCO￿ AND ENDOWMEliTS FROM rx)naiions and l¢gaci¢s 18J35 39,297 57.632 Charitable activitieg Centre activities and trrf)okings 621,014 621,Ul4 Cmhertrading a￿1ville8 Invcsthicni Income 12563 5,322 767 12,563 5,383 767 61 Total 658,001 39.358 697.359 EXPENDITURE ON Charltable l¢tI￿tI Cen¢re activiti￿ IN￿kIng5 470,163 39297 S09.460 11,226 481,389 39297 520,686 NET tNCOME 176,612 61 176.673 RECONCILIATION OF FL14DS Total fvnd5 brought fonvard 265.056 265.056 TOTAL FUNDS CARRIED FORWARD 441,668 61 441.729 Pa￿ 24 £￿tt￿lled... LOYGTOWN oirrDOOR LEARNING TRUST NOTES TO THE FINANCIAL STATEMENTS. CODtlnuul FOR THE YEAR ENDED 31 DECEMBER 2023 15. INDEPENDENT EXAMINERS REMUNERATION 2023 2022 Fees for the indepetsdeni ex*mination ol'th¢ a￿¢)￿lts for the period F¢¢s foroth¢r financial sttviccs 2.400 10,328 2.400 10,680 I& TANGIBLE FIXED A&SETS Office fumiture Pl￿11 aud uipmcnt Motor v¢hi¢ks equipment TotaIs COST Ai l January 2023 Additiotts 26.477 8,814 4,192 2.107 31,586 62255 10.921 At 31 Decem￿ 2023 35291 6299 31.586 73,176 DD:PRECIAI'ION Ai l January 2023 Char8e foryear 16,312 3,424 2,937 652 21,376 2.550 40.625 A026 At 31 De£ernF*r 2023 19.736 3.589 23.926 47,251 r4ET BOOK VALUE At 31 DeCernI￿ 202_3 15,555 2,710 7,660 25,925 Ai 31 DcccmE¢r2022 10,165 1,255 10.210 21,630 17. STOCKS 2023 2022 Stsxks 1,320 651 DEBTORS: Amouyfs FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtor5 Prepayments and accrued in¢om¢ 54.119 4425 66,488 1,190 56.544 67,678 Page 25 Continu￿.. LONGTOWN OUTDOOR LEARNll¥G TRusr NOTES TO THE FINANCIAL STATELHENTS. contlnued FOR THE YEAR ENDED 31 DF.CTr.MIIV,R 2023 19. CASH AT RANK AND ll¥ HAND 2023 2022 Wilson FDuN4Jats Bursary nd Totsl fuNJ5 Total fimds Cath in hand Bank ac£ouni no I Bauk acciHJJJI no 2 Bank dcposii A￿O￿nI I B8nk de]x)sit a£¢ount 2 Bank dep)sit accoun¢ J 1.243 290.879 1243 291.657 100 215,389 48,857 86,052 105 156,937 100 168.481 48.274 85,032 778 215.389 39,297 R6,052 9.560 632.860 10.438 643298 458,929 CREDITORS: AMOUNTS FALLIYG DUE wfrHtN ONE YEAR 2022 Trade creditors social and othff taxes Sun(try Gr￿TtOr5 and accrua15 Dep)5its in thance 1,065 896 8,36R 3,682 9.250 25,694 25, I6,￿0 43,025 21. LEASING AGREEMENTS Minimum lease payments utLd¢rnon-canc¢llable operating le&Ys fall due as follows.. 2023 2022 Within Im¢ year B¢￿ECn on¢ and fNe ye8rs In more than five years 21 ACcR￿Als AYD DEFERRED IYCOME Defcrrcd ir￿C comprises Edu¢ation advisory supportand Bursary income. FxiU￿jQll advisory 5UPPJrt income is deferrcd so ss io recO￿lse tht it￿Ome at the tim¢ the wvice is provided. 2023 2022 Deferr￿ inc¢Jme brought forward Income invoiced in peri¢xl DerY￿ed inLome ¢attied lonvard 51,149 87,th) 157.8171 44.508 76,829 (51,149) Income recognised for the period 80,332 70.188 Bursary iticome receivrd for the PCTiod I Scptrmbcr 2023 to 31 Au8USt 2024 hllt not awardtd by thc ycar cThd is deferred ￿ be tr￿￿15td in the following year. Page 26 contiTMed... LONGTOWY OUTDOOR LEARNING TRUST NOTES TO ThE FIYANCIAL STATEMENTS- conthiue FOR THE YEAR ENDED 31 DECEMBER 2023 22. ACCRUALS AND DEFERRED INCOME- to]ktlDuÈd 2023 2022 D¢fwrcd inroTrK brought forward Income r￿e1ved Dcfcrrcd income catticd fotward 9.016 56,095 {9.7￿) 16.813 31,500 19,016) ItKorne recugoi5ed fur tbe petiod 55,317 39.297 2023 2022 Education Advisory SupEM)rt incomc carricd forward BI￿ry income caTTied forward 57,817 9,794 51.149 9,016 T(Kal d¢loY¢d in¢on 67,611 00.165 MOVEMEIYT IN FUNDS Net rnovement in ffimds At 31.12.23 A¢ 1.1.23 Unrestricted funds GenerAI fijnd 441,668 174,139 615,807 Restricted fund5 Wilson Foundation BuT5￿Y fi]nd 61 583 TOTAL FUNDS 441.729 174,722 616,451 Net movement in fjJnd& iThclwJed in the above L8 follows.. Incoming resources expcnded in ful￿5 Ullrestrleted fullds G¢n¢rn] fi￿d 743,124 1568,9851 174.139 R¢gtri¢ted fvnds Wilson Fouttdalion Bursary fimd 55.9(K) 155.317) 583 TOTAL FUNDS 799,024 {624,302) 174,722 Pag¢ 27 ¢Onunu￿.. LONGTOWL¥ OUTDOOR LEARNING TRUST NOTES TO THE FtYANCIAL sfATEMELYTS. conthiued EQB THE YEAR ET+lDED 31 DECEMBER 2013 MOVEMEliT IN FUNDS- contln4ed CompAratlves for movement In funds Nct At 31.12.22 At 1.1.22 in fund&. Unrestricted Ivnds 265,056 176.612 441,668 Restricted fun Wilson Foundth"ott Bursary ftmd 61 61 TOTAL FUNDS 265,056 176,673 441.729 Compptitive net mov¢mwrt in filnds. ill¢luded in thc above ￿ a5 follows.. Incoming Movement in fiJnds UNrestricted funds General fimd 658.001 (481.389) 176.612 Re*tritted fvnds Wilson Troundation B￿Sary fijnd 39,35¥ (39,297) 61 TOTAL FUNDS 697.359 1520,686) 176.673 A current year 12 month$ and prioryear 12 months combined position is a% follows.. Net movement in fi￿d5 At 31.12.23 At 1.1.22 Unrt5trictal fulld5 Gerte¥al fijnd 265,056 350,751 615,807 Rcstrlcted funds Witson Foundation Butsary fi]nd TOTAL FUNDS 265,056 351.395 616.451 Pa8e 28 continued... LONGTOWN OUTIM)OR LEARNING TRUST NOTFS TO THE FIN￿NCIAL $fATEmE￿S. conthiued FOR THE YEAR ENDED 31 DECEMBER 2023 23. MOVEMENT I.Y FUNDS- continued A current year 12 montlLS and prior year 12 months combined net movem¢ni in fiuKls, included in the above ate as follows.. In¢oming R48ourt¢s Movemeni eX￿Trd in funds Unrestrtcted fund5 CTeneral fvnd ,401.125 (1,050,374) 350.751 Re5trleted fund5 Wilson Foundation Bursary fund 95258 (94.614) TOTAL FUNDS 1.496.383 (1.144.988) 35lJ95 RELATED PARTY DISCL(kSURES Durin¥ lh¢ year, the charildble GoThpuny, 4s licerwr. entered into a grJ2ing licence agreeM￿t with Mr E D Philips, husbond of Mts C PhiliFE a tr￿te¢ of the ¢hHn'rable cornpaAy. for a fee of £1 (2022.. £11. Amouttts outstanding at th¢ year ¢nd- £nil 12022- £nil). DuriDg the year. Mr M D Freer. tsiJ5tee of the chaTitsbl¢ compry, provided ¢onsultsncy s¢N¢es to the charitable eompany for tbc sum of £3,&JO. 12022 - £101). Anjounts outstsjjthng * th¢ year ¢nd . £nil 12022 £nill. 25. PENSIOY COMMITMENTS The ¢haritable Company opvak5 a (kfin¢d contribution pension scheme. Contribution5 arc charscd io ihe Ststcmcnt of Financial Actiwti&s in the penod which they ar¢ payabl¢. ion charge for the Jxriod r¢prescnts contributions payable to the scb¢me of £8,946 (2022 - £12.086) Contributions outstanding at th¢ p¢ri¢MI ¢nd w¢re £nil {2022- £1.130). Page 29