**Charity registration number 1183829**
**Company registration number 11624110 (England and Wales)**
## **THE ASHDOWN FOREST FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023**
## **THE ASHDOWN FOREST FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|K Aalto|
|---|---|
||R St Clair Jones|
||J Mills|
||R St Pierre|
||F Thomas|
||A Morgan|
|**Charity number**|1183829|
|**Company number**|11624110|
|**Registered office**|The Ashdown Forest Centre|
||Wych Cross|
||Forest Row|
||East Sussex|
||RH18 5JP|
|**Independent examiner**|Darren Harding ACA FCCA DChA|
||Richard Place Dobson Services Limited|
||1-7 Station Road|
||Crawley|
||West Sussex|
||RH10 1HT|
## **THE ASHDOWN FOREST FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4 - 5|
|Balance sheet|6|
|Notes to the financial statements|7 - 13|
## **THE ASHDOWN FOREST FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 October 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's memorandum and articles of association , the Companies Act 2006 and "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**
The trust's objects are:
1) To promote for the benefit of the public the conservation, protection and improvement of the natural and physical environment of Ashdown Forest including as a place of amenity and resort
2) The provision of recreational facilities for the quiet enjoyment of Ashdown Forest in the interests of social welfare for the public benefit with the objects of improving their conditions of life
3) To advance the education of the public in the conservation. protection and improvement of the natural and physical environment of Ashdown Forest in furtherance of the above objects, but not otherwise the company shall have power to raise funds to support work and projects to protect and enhance Ashdown Forest for future generations to enjoy.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
## **Achievements and performance**
The past year has seen significant progress in fund raising activities as the Board of Trustees has further established itself. In particular, the charity has held a number of successful events during the year which have helped raise the charity’s profile, engage with the wider local community and generate donation income.
The new board has continued to review and enhance governance activities, formalising financial controls and donation policies in particular whilst also continuing to evolve the organisation’s strategic objectives.
## **Financial review**
The overall surplus for the year was £97,732 (2022 - £74,787) as set out in the Statement of Financial Activities on page 4 of the accounts.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level of £10,000. In reaching the agreed reserves level, the Trustees have factored in the current minimal monthly expenditure commitments, with no current employment related costs. As a growing charity we will continue to monitor the appropriateness of this reserves level in our Board meetings throughout the year, updating them when needed. This level of reserves has been maintained throughout the financial year.
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The trust is a charitable company limited by guarantee. It is controlled by its governing document, which is its Memorandum and Articles of Association.
page 1
## **THE ASHDOWN FOREST FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
K Aalto
R St Clair Jones J Mills R St Pierre F Thomas A Morgan
Trustees are recruited following a selection process carried out by the Chairman.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
..............................
## **R St Clair Jones**
Trustee Dated: .........................
page 2
## **THE ASHDOWN FOREST FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE ASHDOWN FOREST FOUNDATION**
I report to the trustees on my examination of the financial statements of The Ashdown Forest Foundation (the trust) for the year ended 31 October 2023.
## **Responsibilities and basis of report**
As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
## **Darren Harding ACA FCCA DChA**
Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT
Dated: .........................
page 3
## **THE ASHDOWN FOREST FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|**Current financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**Designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
124,773
-
5,200
Other trading activities
**3**
5,992
-
-
Other income
**4**
183
-
-
**Total income**
130,948
-
5,200
**Expenditure on:**
Raising funds
**5**
3,754
-
-
Charitable activities
**6**
22,418
-
12,244
**Total expenditure**
26,172
-
12,244
**Net income/(expenditure)**
104,776
-
(7,044)
**Net movement in funds**
**8**
104,776
-
(7,044)
**Reconciliation of funds:**
Fund balances at 1 November 2022
81,389
49,131
24,500
**Fund balances at 31 October 2023**
186,165
49,131
17,456|**Total**
**2023**
**£**
129,973
5,992
183
136,148
3,754
34,662
38,416
97,732
97,732
155,020
252,752|**Total**
**2022**
**£**
108,494
-
-|
|---|---|---|
|||108,494|
|||6,144
27,563|
|||33,707|
|||74,787|
|||74,787
80,233|
|||155,020|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
page 4
## **THE ASHDOWN FOREST FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|**Prior financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**Designated**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
74,856
-
33,638
**Total income**
74,856
-
33,638
**Expenditure on:**
Raising funds
**5**
6,144
-
-
Charitable activities
**6**
7,481
-
20,082
**Total expenditure**
13,625
-
20,082
**Net income**
61,231
-
13,556
Transfers between funds
2,142
(2,142)
-
**Net movement in funds**
**8**
63,373
(2,142)
13,556
**Reconciliation of funds:**
Fund balances at 1 November 2021
18,016
51,273
10,944
**Fund balances at 31 October 2022**
81,389
49,131
24,500|**Total**
**2022**
**£**
108,494|
|---|---|
||108,494|
||6,144
27,563|
||33,707|
||74,787
-|
||74,787
80,233|
||155,020|
page 5
## **THE ASHDOWN FOREST FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2023**_
|**Notes**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**13**
**Net current assets**
**Net assets excluding pension liability**
**The funds of the trust**
Restricted income funds
**15**
Unrestricted funds - general
Unrestricted funds - Designated
**14**|**2023**
**£**
-
269,711
269,711
(16,959)|**£**
252,752
252,752
17,456
186,165
49,131
252,752|**2022**
**£**
303
162,518
162,821
(7,801)|**£**
155,020|
|---|---|---|---|---|
|||||155,020|
|||||24,500
81,389
49,131|
|||||155,020|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
..............................
R St Clair Jones **Trustee**
Company registration number 11624110 (England and Wales)
page 6
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **Charity information**
The Ashdown Forest Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Ashdown Forest Centre, Wych Cross, Forest Row, East Sussex, RH18 5JP.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "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)". The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.Expenditure is classified under the following headings:
page 7
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **(Continued)**
Grants payable are payments to third parties in furtherance of the charitable activities, these payments are proposed and reviewed in the trustees meetings and are only paid on agreement of the trustees. The grants are accounted for when the payment has been made to the recipient which is usually within a timely manner of the meeting date.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
Staff costs include those who are employed by the Charitable Company or self contract freelance workers (split in the wages note). The costs are recognised in the time that they have worked for the organisation.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **1.7 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
24,773
5,200
Legacies receivable
100,000
-
124,773
5,200|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
29,973
74,856
33,638
100,000
-
-
129,973
74,856
33,638|**Total**
**2022**
**£**
108,494
-|
|---|---|---|
|||108,494|
## **3 Other trading activities**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**||
||**general**||
||**2023**|**2022**|
||**£**|**£**|
|Fundraising events|5,992|-|
page 8
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **4 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Other income|183|-|
## **5 Expenditure on raising funds**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Other fundraising costs|3,754|6,144|
## **6 Charitable activities**
|**Grants**
**payable**
**Other**
**charitable**
**expenditure**
**2023**
**2023**
**£**
**£**
Grants payable
28,892
-
Website Costs
-
1,734
28,892
1,734
Share of support costs (see
note 7)
281
-
Share of governance costs (see
note 7)
3,755
-
32,928
1,734
**Analysis by fund**
Unrestricted funds - general
20,684
1,734
Restricted funds
12,244
-
32,928
1,734|**Total**
**2023**
**Grants**
**payable**
**Other**
**charitable**
**expenditure**
**2022**
**2022**
**£**
**£**
**£**
28,892
7,241
-
1,734
-
5,922
30,626
7,241
5,922
281
1,486
-
3,755
12,914
-
34,662
21,641
5,922
22,418
7,481
-
12,244
14,160
5,922
34,662
21,641
5,922|**Total**
**2022**
**£**
7,241
5,922|
|---|---|---|
|||13,163
1,486
12,914|
|||27,563|
|||7,481
20,082|
|||27,563|
page 9
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **7 Support costs allocated to activities**
|**Charitable**
**activities**
**2023**
**£**
Travelling
39
Printing
-
P.R Literature & Brochures
66
Internet charges
119
Computer & Software
57
Governance
3,755
4,036
**2023**
**Governance costs comprise:**
**£**
Legal and professional
400
Bank charges
165
Audit and accountancy
3,190
3,755
**8**
**Net movement in funds**
**2023**
**£**
The net movement in funds is stated after charging/(crediting):|**Total**
**2022**
**£**
1,020
185
240
41
-
12,914|
|---|---|
||14,400|
||**2022**
**£**
10,535
189
2,190|
||12,914|
||**2022**
**£**|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
## **10 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|||
|---|---|---|
||**2023**|**2022**|
||**Number**|**Number**|
|Total|-|-|
|There were no employees whose annual remuneration was more than £60,000.|||
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
page 10
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **11 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **12 Debtors**
|**12**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
-
**2023**
**£**
-
-
16,959
16,959|**2022**
**£**
303|
|||**2022**
**£**
988
2,154
4,659|
|||7,801|
## **14 Unrestricted funds - Designated**
These are unrestricted funds which are material to the trust's activities.
||**At**|**1**|**November**|**Transfers**|**At**|**31**|**October**|
|---|---|---|---|---|---|---|---|
||||**2022**||||**2023**|
||||**£**|**£**|||**£**|
||||49,131|-|||49,131|
|**Previous year:**|**At**|**1**|**November**|**Transfers**|**At**|**31**|**October**|
||||**2021**||||**2022**|
||||**£**|**£**|||**£**|
||||51,273|(2,142)|||49,131|
page 11
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **15 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**At 1 November**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
Memorials
15,425
5,200
(5,200)
RMW Butterfly
6,739
-
(4,708)
Carbon Sequestration
2,336
-
(2,336)
24,500
5,200
(12,244)
**Previous year:**
**At 1 November**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
Memorials
4,225
31,202
(20,002)
RMW Butterfly
6,719
100
(80)
Carbon Sequestration
-
2,336
-
10,944
33,638
(20,082)|**October**
**2023**
**£**
15,425
2,031
-|
|---|---|
||17,456|
||**October**
**2022**
**£**
15,425
6,739
2,336|
||24,500|
Memorials - these are legacy donations for the sponsoring of a memorial on the forest, typically in the form of a bench, gate or bridge.
RMW Butterfly - a family donation for butterfly conservation work on the forest and a bench. This will be completed in 2024.
Carbon Sequestration - this is to be used to analyse the forest's carbon storage capacity & recommend optimal carbon capture solutions through heathland and mire management
## **16 Analysis of net assets between funds**
|**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**Designated**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**At 31 October 2023:**
Current assets/(liabilities)
186,165
49,131
17,456
186,165
49,131
17,456|**Total**
**2023**
**£**
252,752|
|---|---|
||252,752|
page 12
## **THE ASHDOWN FOREST FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|**16**|**Analysis of net assets between funds**||||**(Continued)**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**|**funds**||
|||**general**|**Designated**|||
|||**2022**|**2022**|**2022**|**2022**|
|||**£**|**£**|**£**|**£**|
||**At 31 October 2022:**|||||
||Current assets/(liabilities)|81,389|49,131|24,500|155,020|
|||81,389|49,131|24,500|155,020|
## **17 Financial commitments, guarantees and contingent liabilities**
During the year the charitable company received a legacy of £100,000. This legacy is subject to clarification from HMRC that the intended destination was definitively The Ashdown Forest Foundation. Initial communication suggests that the treatment of this legacy is correct and in line with the intention of the will, there is however a small possibility that this will have to be repaid.
## **18 Related party transactions**
The Finance Officer for the Conservators of Ashdown Forest (CoAF) provides accounting services to The Ashdown Forest Foundation in preparing monthly management and annual accounts as well as facilitating banking activity and purchase ledger functionality. Other members of staff from the senior management team provide information at monthly TAFF trustee meetings, and provide information on projects and capital funding required by the organisation. Two out of the seven Ashdown Forest Foundation trustees are also Conservators, whilst this does not suggest control it is indicative of influence. Total grants paid to CoAF amounted to £19,676.
In Addition there is an accrual for funding agreed from the Foundations designated fund for the Pony Project to the Conservators in respect of the Exmoor ponies used for grazing which amounts to £2,658.
The father of one of the trustees donated £10,000 to the foundation during the year.
page 13