Charlty r8gistration number 1203221 (England and Walès) Company reglstratlon number 08440819 GUIDES OVER THE KENT AND LEVENS SANDS LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Lord RH Cavendish Mr R Stokes Mfs LG McLaren Charlty number {England and Walo$1 1203221 Company number 08440819 Indtrpendent examiner JLWinder & Co Suite 6 Furness Gate Peter Green Way Barrow In Furness Cumbria LA14 2PE Bankers Barclays Bank PLC 86-90 Dalton Road Barrow in Fumess Cumbria LA14 1 JH Solicltors Livingstons Solicitors 9 Benson Street Ulversto Cumbria LA12 7AU
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED CONTENTS Page Trustees, report Indeper)dent examiner's report statement of financial aGtivities Balance sheel Notes lo the financial statements 7-13
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial slalemenls for the year ended 31 March 2024. The financial statements have been prepared in accordan¢$ with the accounting policies sel out in note 1 to the financial statements and comply q1h thè charity's governing document, the Cc>mpanies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charlties SORP 'Pccounting and Reporting by Ch81ilies". Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Finan¢i81 Repc)rting Standard applicable In the UK and Republic of Ireland IFRS 1021 Objectlves and actlvltles The objects are the advancèment of health and the provision of public seTvices via the provision of tmined and experienced guid8s I'sand pilots I to Conduct members of the public across the Kent and Levens sands in Morecambe Bay I'the sands") via.. 1. the promotion of communily parti¢ipalion in healthy recreation in particular by the provision of facilrfcie5 for walking on the sands in the Morecambe Bay area, an inlernalionally important marine environment and Dne ol only twelve nature improvement areas in the UK., 2. the promotion of public health and safely by provision of safe passage for the public over the deep channels and quicksands of the sands; 3. the provision of gu1ded walks on the sands for charitable organisalions and incjividuals involved in charitabl& fundraising activities., 4. to advance the education of the public in the subject of the history of the sand pilots and the history of ioules across the sands", S. lo advance ec£uc8tion of the public in the subject ol the flora and fauna and the unique ecosystems of the sands. Public ben&fit The Irustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Significant activitios and Bchievgmenls againsl objeotiv&s The charitable a¢livilie8 and existing funds were transferred into tho limited company on 21st Decembor 2023 via an asset transfer agreement. There were no charitable s¢livllies carried out from that dale up to the end of the accounting period. The ¢harily did however receive income from ils investments, Income wa5 reIved in respect of the planned charitable activities (guided walks) arranged for summer 2024 but this has been Irealed as incotne received in advance.
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financlal review The charitable activities, previously carried out by the unlncorporaled association Charily lor providing guides over the Kent and Levens sands were transferfed in full to the limited company on 21 st December 2023. This included transfer ol the existing charitable funds, amounllng to £232,165. by way of a donation. The equitable Ille for the propety and land owned by the unincorporated association was transferTed to the limited company on 21st De¢ember 2023. The legal lille is in the process of being transferred at 31 sl March 2024. The investments and bank accounts tiansferred lo the Ltd company on 21 sl December 2023 3re also in the process of being changed from the name ol the unincoiporated charity lo the Ltd company. The income for the year was £240,577 and the expenditure was £13.291 which resulted in an excess of income over expenditure of £227,286. This surplus when added to the inv8slm8nt gains of £1,542,039 gives a funds b81ance of £1.769,32512023 - nil). Rss888 poliGy 11 is the policy of the charity that unrèstricted funds which have not been designated for a specific use should be mainlained al 8 level equivalent lo six month's expendiluie. The trustees considèr that reserves al this level will ensuTe that. in the event of a signifi'cant drop in funding, they will be able to continue the charity's current activities while consideration is given lo ways in which adolilional funds may be raised. This level of ieserves has been maintained throughout the year. Plans for future perlods The main plan for the future is the conlinualion of the guided walks in accordance with the objectives of the charity. Other plans are lo ensure that the properties owned by thè charity are brought up lo a good standard with the monies raised from the walks helping to achieve this over time. A small parcel of land al Guides Farm was sold for £315,000 on 9 July 2024 with the proceeds bèing US towards the refurbishment costs of ths Guides Farmhouse so il wtll be fil for occupancy by the guide lor the Kent estuary. Stru¢turei governance and managomont The charity is a cornpany limited by guarantee. in¢orporaled on 12th March 2013, and governed by memorandum and articles adopted by a special resolution dated 5th April 2023. The trustees, who are alsD the directors ft)r the purpose of Company law, and who Served during the year and up lo the dale of signature ol the financial stslemenls were.. Lord RH Cavendish Mr R Stokes Mrs LG McLaren R&cniilmenl and 8ppoinlmenl of tmslees Nèw Iruslees are chosen trom the existing Iruslee body with 8 view of selectlng individuals with an interest in the Bay and whether they have some skill th81 may be ol use ID the charity and ils aclivilies. None of the tfustees has any bèneficial interest in the company. All of the trustees are members of Ihg company and guarantee to contribute £1 in the event of a winding up. oan{SlI0n8l slwcture The day to day rullning of the trust Is delegated lo MT D Knighl who reports lo the Iruslees al regular intervals.
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, repNt wa8 approved by the BoaTd ofTTUSlees. Mr R Slokes Trusteg 25 Marth 2025
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GUIDES OVER THE KENT AND LEVENS SANDS LIMITED I report lo the trustees on my examination of the financial slalemenls of Guides over the Kent and Levens Sands Limited Ilhe Gharilyl for the year ended 31 March 2024. Responsihilitles and basis of report As the Iruslees of the charily12nd also ils dire¢lors lor the purposes of company lawl, you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Companies Act 2006. Having 8alisfied myself that the financial slalements of the charity ale not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In cariyillg out my examinalion I have fo51owed the Directions given by the Charity Commission under section 145{51{bl of the ChariliesAct 2011. Independent examlneffs staternent I have completed my examination. I confirm that no matters have Come lo my allenlion in conne¢lion with the examination gSving me caus& lo believe that in any material respect.. accounting recoids were not kept in respect of the charity as required by section 386 of the Companles Act 2006. the financial statemènts do not accord with those records.. or the financial statements do not comply with thè accountlng requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair viow. which is not a matlei Gonsidered as part of an independent examination.. or the financial stslements have not been prepaieol in accordance with the methods and principles of the Slaterllent of Recommended Practice lor accounting and reporb'ng by charities applicable lo chaiilies preparing their financial statements in accordance with the Financial Reportlng Standard applicable in the UK and Republi¢ of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in oréer lo enable a proper understanding of the financial stalarnenls lo be reached. SJ Roberts JLWinder& Co Suite 6 Furness Gate Peter Greon Way Barrow in Furness Cumbria LA14 2PE 2e March 2025
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds 2024 Unrestrlcted funds 2023 Notes Income and endowments from: Donations and legacies Investments Other income 239.095 1,455 27 7,000 Total income 240.577 7,000 Expendlture on- Charitable activities 13,291 7,000 Total expendlture 13,291 7.000 Nel gainslllossesl on inveslmersts 10 1,542,039 Nat income and movemènt In funds 1.769,325 Reconclllation of funds: Ft]nd balanS at 1 April 2023 Fund balances at 31 March 2024 1,769,325 The slalemenl of financial aGtivilies includes all gains and losses recognised in the year. All income and expenditure derive Irorn continuing aclivilies.
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Investment property Investments 12 13 1,510,000 207,649 1.717,649 Currant assets Debtr)rs Casli at bank 8n(l in hand 467 14 1,080 91.015 92.095 467 Creditors- am¢wnts lalllng due within one yèar 15 140.4191 (46n 51.676 Ngt current assèts Total assets less cwwntllabilitiès 1.769,325 The funds of the charity Unrestricted funds q6 1.769.325 1.769,325 The company is entitkd to the exemption from the audit requirement eDnt8ined in section 477 of the Companies Act 2006, for year ended 31 Mareh 2024. The directOTS acknowledge theii respansibllities foT Complyi¥ wrth the requirements of the Ct)mp3nies Act 2006 with Tespect to accountiny records and the preparation of financial statwnènts. The membÈrs have not required Ihe company to obtain an audit of its financial staterllents for the year in queslitsn in accordanGe with section 476. Thesp. financial statements have been prepared in acwdance wrth th8 provisions applicable to companies subject to the small companies regime. The fiDanu81 slatemenls weT6 approved by the Iiuslee5 on 25 March 2025 Mr R Stokes Trustse Company registration nurnber 08440819 IEn9land and VVale81
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity information Guides over the Kent and Levens Sands Limiled is a private company limited by guarantee incorporated in England and Wales. The regisleied Dffice is 1.1 Ac¢ountlng Gonvention The financial slalemenls have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and R@ptJblic ol Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Slalemènl of Recommended Practice applicable to charities pieparing their aUnIS in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefit Enlily as defined by FRS 102. The charity has tsken advantage of thè provisions in the SORP for charities not to prepare a slalwnenl ol cash flows. The finanaal slalemenls are prepared in sterling. whl¢h is the function81 currency of the charity. Monetary amounts in these financial statements ale rounded lo the nearest £. The financial slalemenls have been prepared under Ihe historScal cost conv$nlion, Imodilied lo in¢lude the revaluation of freehold properties and lo include investment properties and Gertain financial instruments al fair valuel. The prinapal acGounling policies adopted are set out below. 1.2 Going concern At the time of approving the financial slatemenls, th8 Iruslees have a reason8ble expectation that the charity has adequate resources lo ¢onlinue in operational existence for the foreseeable future. Thus the IrLBlees continue to adopt the going concern basis of accounting in preparing the finanGial slatemenls. 1.3 Charitable fund5 Unrestricted fund5 are available for use at the discretion of the INslees in furtherance of their charitable objectives. Re51ricled funds are subjetsl lo specific ¢ondilions by donors or grantors as to how they may be used. Thè purposes and uses of the reslricled funds are set out in the notes lo the linanclal statements. Endowment funds are subject lo specific conditions by donors that the eapilal musl be mgintained by the charity. 1.4 Income Incomè is recognised when the charity is legally enlilled to it after any performance condiliDns have been met. e amounts can be measured reliab5y, and rt is probable that income will be recelved, Cash donations aré recogni5ed on receipt. Other donations are recognised oncè the charity has been nolilied of the donation, unless performance Gondilions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been nolilied ol an impending dislribulion, the amount is known. and reGeipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset.
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies {Continuedl 1.5 Expenditure Expenditure is recognised once there is a lagal or conslruclive obligation to transfer economlc benefit lo a third party, il is probable that a transfer of economic benefits will required in selllement, and thè amount ol the obligation can b8 measured reliably. Expenditure is Classified by activity. The eosls of each activity are made up of the total of dIrt costs and shared costs, including supptsrt costs involved in undertaking each activity. Direct costs allribLilable lo a single aclivity are allocated directly lo th81 aclivily. Shared costs which contribute to more than one actsvity and support Costs Nvhich 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 lime spent, and depreciation charges are allocaltsd on the wrtlDn of the asset's use. 1.6 Investment property Investment property, which is property held to earn rentals andlor for capital appreciation, is inilially recognised al cost, which includes the purchase cost and any directly atlribulable expenditure. Subsequently it is measured al lair value al the reporting end dale. The surplus Dr delicil on revalualion is recognised in profil or loss. 1.7 Flxad asset Investments Fixed 8ssel inveslmenls are initially measured al transaction price excludlng transaction ¢osts, and are subsequ&nlSy measured al fair value al each reporting date. Changes in fair value are recoynised in nel incomellexpendilurel for the year. Transaction costs are expensed as incurred. 1.8 Cash #nd cash equivalents Cash and cash equivalents include cash in hand, deposlls held al call with banks. other short-term liquid investments with original malurilies of threè months or less. and bank overdrafts. Baf)k overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charity has tslected lo apply Ihe provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olhèr Financial Instruments Issues. of FRS 1 02 to all of Ils financial instruments. Financial instruments ale recognised in the charity's balance sheet when the charity becomes party to the conlraclual provisions of the instrument. Financial assets and liab11ilios are offset, with the nel amounts presented in the financial stalemenls, when there is a legally enforceable right lo sel off the recognised amounts and there Is an intention to s6tlle on a nel basis or lo realisè the asset and sellle the liability sitnullaneously. Basi¢ financial assets Basi¢ financial assets, which include debtors and cash and bank balances. are initially rlleasured at transaction price including Iransaclion ¢osls and are subsequently Carried at atnortised cost using the effective interest method Linless the arrangement conslilules a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted al a market rate of interest. Financial assets classifi.ed as w¢eivable wilhin one year are not amortised.
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting pollclgs Icontinuedl Basic financiTal liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction Pri unless the arr2ngemenl coNstilutes a financing Iransa¢lion, where the debt instrument is measured at the present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently caryied al amortised cost, using the effeGlive interest ral@ method. Trade creditors are obligations lo pay for goods or seNices that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenl6d as norFcurrenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using Ihe effective interest method. Derecognition of financial liabilitles Financial liabilities are dere¢Dgnised when the Gharily's contractual obligations expire or are dlscharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised In the period in which the employee's setvices are received. Terminatlon benefits are re¢ognised immediately as an expense when the charlty Is demonslfftbly committed lo terminate the employment of an employee or to provide lerminalion benefits. Crltical accounting estimates and Judgements In the application of the charity's a¢¢ounting policies, the Iruslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities Ihal ar8 nol readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that aTe considered lo be relevant. Actual results may differ from thesè estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects olY that period, or in the period of the revision and fulure periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestrlcted funds 2024 Unr8Stricted funds 2023 Donations and gifts 239.095 7,000
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unre5trlcted Unrestrlcted funds funds 2024 2023 Income from unlislad inveslmenls Interest receivable 1,208 247 1,455 other Income Unrestricted Unrestricted funds funds 2024 2023 Railtra¢k annuities VWdyla2ves 22 27 Expendituro on charltable actlvltlos Unrestricted Unrestricted 2024 2023 Direct costs Staff costs Guide and walk expenses Insurances Adminislialive services honorarium Accountancy fees Payroll costs Website and IT costs Bank charges Sundry expenses 8,820 39 515 2,184 1.524 115 24 57 13 7,QOO 13,291 7.000 Analysls by fund Unre5triGled funds 13,291 7,000 10-
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The nel movemènt in funds is staled after chargingllcredilingl.. Fees payable for the indèpendent examination of the charity's financial statements 1,200 Trustees None ol the Iruslees lor any persons connected with them) reiVed any remuneration or benefits from the charity during the year. Employees The average monthly ntjmber Df employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 8,820 7,OOQI There We no employeès whose annual remuneration was more than £60,000. Remuneration of key management personnel There we¥e no key management peisonnel in receipt ol any remuneralion. 10 Gains and losses on investments Unr&strlct8d Unrestrlcted funds fund$ 2024 2023 Gainslllossesl arising on.. Revaluation of Investments Revaluation of inveslrllenl properties 118,039 1,424,000 1.542,039 11 Taxation The charity is exempt from laxalion on its activities because all its income is applied for charitable purposes. 11
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Investment property 2024 Falr value At 1 April 2023 Additions Nel ga1ns or losses through fair value adjustments 86.000 1,424,000 At 31 March 2024 1.510,000 Investment property wmprises the following.. Levens House. Canal Foot, Ulverston LA12 9EL Guidès Farm, Carter Road, Grange over Sands LA117AB' 8.45 acres of land atAllilhwaile Road, Grange over Sands LA11 7ET The fair value of the investment property has been arrived al on the basis ol a valuation Caled out al FèbrLJary 2024 by Davis & Bowrlng Chartered Surveyors, who aTe not connected with the charty. The valualion was made on an open markèt value basis by reference to market evidence of transaction prices for similar propertie5. ' A small parcel of land al Guides Farm was sold for £315,000 on 9th July 2024. 2024 2023 Freehold 1,510,000 13 Flxed asset investments Llsted Investments Cost or valuation At 1 April 2023 Additions Valuab'on changes 89,610 118,039 At 31 March 2024 207,649 Carrying amount Al 31 March 2024 207.649 At 31 March 2023 The inveslments include the follDwing'. 6,842.52 units in COIF Charities Investment Fund Income Units. 39,044.232 unlls in Newton Growth & InGome Fund for Charities. 12-
GUIDES OVER THE KENT AND LEVENS SANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Debtors 2024 2023 Amounts falling due withln one year: Other debtors Prepayments and awued income 315 765 467 1.080 467 15 Creditors: amounts falllng due wSthin one year 2024 2023 Payrnenls received on account other Creditors Ac¢ruals and deferred income 38,081 467 2,338 40,419 467 16 Unrestricted funds The unrestricted funds of the charily comprise the unexpended balance5 of donatlDns and grants which are not subject lo specific condiliDnS by donors And grantors as lo how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. Gains and At 31 March 10559$ 2024 At 1 April 2023 Incoming resources Resources expended Gener81 funds 240,577 113.2911 1,542,039 1,769,325 Prevlous year.. At 1 April 2022 Incomlng resources Resources expended Galn5 and At 31 March losses 2023 General funds 7,000 17,0001 17 Related party transactions There were no disclosable related party transactions during the year12023- none). 13-