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2022-12-31-accounts

The Countryside Education Trust Annual Report and Accounts 2022 Countryside EducaiionTrust Charlty Number 269546

The Countryside Education Trust Contents For the year ended 31 December 2022 Page Legal and administratlve Information Trustees, report Independent ex8mlner'5 report io-io Statement of financlal activlties 12 Balance sheet 13 Statement of cash flows 14 Note5 to the financial statements 15-31

The Countryside Education Trust

Legal and administrative information For the year ended 31 December 2022

Trustees Lord Montagu of Beaulieu, Chair
A Moore-Gwyn
D Olden (resigned 18 July 2023)
R Channell
N Burt
D Printer, Deputy Chair (resigned 12 April 2023)
M Wade
K Burwood (appointed 1 July 2022)
P Johnson (appointed 27 April 2023)
G Hardacre (appointed 13 July 2023)
The Countryside Education Trust is a tenant of Lord Montagu and the
Beaulieu Estate.
Charity Commission
registration number 269546
Registered office John Montagu Building
Beaulieu
Hampshire
SO42 7ZN
Independent Examiners Saffery LLP
Chartered Accountants
Midland House
2 Poole Road
Bournemouth
BH2 5QY
Bankers Barclays Bank Plc
4thFloor, Block A
Apex Plaza
Forbury Road
Reading
RG1 1AX

Page 1

The Countryside Education Trust

Trustees’ Report

For the year ended 31 December 2022

Chairman’s Highlights

2022 was a year of opportunity. The building of the Fort Climate Centre mirrored the rebuilding of our charity post pandemic; a beautiful new space, it has already become a focus for new partnerships within the New Forest and beyond. We are hoping it will be a space for learning but also for conversations around the challenges of climate change, a place for people to come together and to develop mitigations and solutions. Returning schools have found new modules available about the New Forest, climate change and food choices all of which have been thoroughly well received. We also started working with young people from 18 upwards giving them an insight into the science of climate change, sustainable woodland management, and regenerative farming. Our volunteers returned with huge enthusiasm to help across both sites, with a wider variety of tasks; we now welcome young volunteers from 16-18 and we are also starting to run family volunteering sessions on a regular basis. Of course, none of this could have been accomplished without generous funding from donors old and new; and the dedication and expertise of our staff team.

Thank you to everyone who has played a part in helping the organisation to secure its future.

Lord Montagu of Beaulieu

Objectives of the Countryside Education Trust

The Countryside Education Trust (269546) was founded in 1975. Its objectives and activities are to:

Our Mission

The Countryside Education Trust enables meaningful and enjoyable access to the countryside for all, particularly those who are the most disadvantaged, through excellent teaching and access to well-cared for special places. We connect people with the countryside.

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The Countryslde Educatlon Trust Tyustees, Report For the year ended 31 December 2022 Public Benefit The Trustees believe that the charity operates under tlie following sections of the Charltles, Ad 2011 ai)d has a long tradition of ensttrin8 maximum access to its services.. The advancement of education The advancement of envlronmental protectlon or improven)ent The advancement of citizenship or comwnLFnity development The advancement of the arts, culture, heritage or science Public benefbt 15 evldent in the wide varlety of ages and backgrounds of people who access our seNices. We continually strive to make acce55 fair and affordable. We take seriously OUT commitment to ensuring that both site5 are looked after to hi8h ecological, environmental and animal welfare standards. 2022 Actlvltles No 500ner did we start to return to our usual activities than the cost-of-living crisi5 hit, initially as a result of the invasion of Ukraine by Russia, which sent fuel and food prices rocketing. Financial uncertainty dogged the year, with 50aring inflation and rising mortgage rates adding to the nation's woes. Teachers, strikes, swiftly escalating levels of school absenteeism and parental anxiety around children being away from home, which developed as a result of covid, added further uncertainty to the viabllity of school visits. While lesldentlal school engagement remained down, our funding from the Ernest Cook Trust for the OWLS collaboration enabled schoo15 suffering from particular dlsadvantage to visit for a week for free. The OWLS Collaboration Ss a network of 9 outdoor learning centres working together to research and evaluate the Impact of residential visits on children's lives. As well a5 funding School places, the Ernest Cook Trust also provides travel g¥ants to schools, as travel costs present a huge barrier to residential visit5,' for the team here, the project provide5 an opportunity to Share knowledge and develop skills with peers, an unusual opportunity for a small charity. We worked with two relatively local Southampton schools and developed new modules for this cohort around connecting with 'their' National Park, looklng at local food and what might grow here in the future. and why choices are important. To help schools not supported through the OWLS Collaboration, we decided to sub5idise school pla￿S through our wider fundralsing where possible, whlch proved popular. The post pandemic declsion to mainly offer three-day residentials also paid off as schools weye able more easily to release staff for this amount of tlme than for a week, and parents seemed more able to support their children through a shorter resiijential financially and emotionally. For the Trust, using a contractor for evening meals ha5 en5uied great quality of food alongslde more financlal flexibility than having an inhouse catering team. Page 3

The Countryslde Educatlon Trust Trustees, Report For the year ended 31 December 2022 Face to face with cow5 on a day visit Day vlslts have remained popular, especially the unusual opportunity to study a stream, whlch rises on the local heath and meanders down through Hartford Wood and on to the Beaulieu River. Significant data about this stream and its associated ponds has been Eained from CET survey work with the Freshwater Habitats Trust,. It is one of the best ponds In the New Forest in terms of water quality and biodiversitv. Followlng the shrinkage In our team necessitated by the pandemic, another partnership project proved vitally important to the Trust. Being a participant in the Green and Blue Horizons Nature Recovery project, funded by the Heritage Lottery, was a huge win for the Trust. We worked with other local partners including the National Park, the Freshwater Habitats Trust, the Hampshire and Isle of Wight Wildlife Trusl, and the Commoners, Defence Association over 18 months. As well as the benefits of tolletthje actlon around engaging the wider community in nature recovery, in financial terms the costs for one of our most senior people were defrayed and we were able to hold onto another experienced member of the team. This created a level of much needed stability for our organiiatSon from which we could start to rebuild. The Heritage Lottery Nature Recovery funding also paid for interns. We are proud of our training reputation and our track record in helping people into jobs into this fSeld. One intern joined for the whole 18-month project working as a Cllmate and Environment Assistant, and we added two additional short term part-time internships in the autumn, one focuslng on Sustainable Farming and one on Outreach. All three of these Individuals moved on into roles in the environmental field. Page 4

The Countryside Education Trust TYustee5' Report For the year ended 31 December 2022 Youtw volunteers haymaking. The Countryside Education Trust Is one of the few places Integrating farm, conservation and climate education in the UK currently. The 'soft launch, of the Fort Climate Centre, kindly donated by the Fort Foundation, happened in July. We began our clSmate work with young people on the hottest day of the year, necessitating the cancellation of a vi51t to a solar farm l The course, aimed at 16-25-year-olds, spread over 5 days, was free to participants. Offering transport, as well as allying with our objectives, really transformed people's ability to attend. The week covered the baslcs of climate chan8e, regenerative farming, land management, sustainable woodlands and managing for climate change, the importance of healthy water courses and how to engage the wlder public. In the autumn we trSalled a dlfferent approach of a three-d8y course spread over three week5, to allow for reflection in between sessions. Most people opted for the whole series, which again was free to self-fundlng individuals and Included transport from the train. Organisations, including partner organisations for the Green and Blue Horizons project, sent interns or apprentices along. 22 people attended, ranging from 18- 50, all new to the envlronmental fleld, elther as graduates, students. or career changers. We had excellent feedback including 100% of the participant5 feelin8 that the course met expectations, IOD% thlnklng that venue was highly suitable and 100% loving the locally sourced lunchl We were winners of the 'New Forest National Park Awards - Sustainability Champion 2022, and received the award at the New Forest Show. The Countryside Education Trust was noted for being an exemplar of sustainable operations and promoting sustainability through education tourses. The Fort Cllmate Centre was also noted as being'built to ensure that the highesl environmental standard for insulation, lighting and waste management are all considered and mitigated,. It was noted positively that the Countryside Education Trust Is a working productive farm and is involved with sustainable farming, sensitive woodland management, and restoration project5 on its land. Page 5

The Countryside Education Trust Trustees, Report For the year ended 31 December 2022 Coppicii)g oli a wintei's day In Haliloid Wood These comments were really welcome, as both our sites are managed by our team for conservatlon, one of the Trust's charitable objectives. For the New Forest Awakening Festival, we made a short film about copplclng, demonstratlng the technlques we use to manage the understorey of Hartford Wood. We sell coppice products including bean poles, pea sticks and charcoal directly through our pop-up shop and via a local garden tentre,. we also use the produce for laylng our hedges or for dead hedges in the woods to create wildlife corridors. This year, thanks to the Green and Blue Horizons project, we planted around 300m of new hedgerow with the help of our volunteers, as well as gapping up old hedgerows on the farm. Volunteers remain an important and welcome resourcel We threw our oldest volunteer a 90 birthday party in December, while our youngest volunteer turned 9. We are experimenting with family volunteering and volunteering for young people between 16-18, but we have a dedicated core of volunteers who sign up for different tasks on a weekly basis to whom we are very grateful. Our young handlers arevolunteels of a different type. We created an after-school club to encourage chlldren from non-farming backgrounds to have a @o at working on a farm. We teach these largely 9- and 10-year- olds to work wlth our Shetland sheep, which they then show at country shows, such as the New Forest Show, during the summer holidays. The young people learn lots about responsibility and resilience from this kind of activity as well as adding rosettes to our collectionl Page 6

The Countryslde Educatlon Trust Trustees, Report For the year ended 31 December 2022 6,4 The CET'S Owl Clubs are fully recovered, and we run them for children from 0-12- Owlets, Little Owls, Big Owls and Eagle Owls. The engagement of the parents and carers In the seasonally orlented activlties is nearly as important as that of the children; we believe that this work builds appetile and confidence in adulis for the outdoors. 2022 was a challenging year for the Countryside Education Trust, but one in which we developed new ways of connecting people to the countryside and worked collaboratively with a wide range of partners to effectively deliver our charitable objectives. The Future The Green and Blue Horizons project will draw to a c105e at the end of March 2023. The benefits of thi5 project have been instructive, and we will look for more partnershlp funding and opportunlties golng forward. The Fort Climate Centre will open officially in the spring, and this will enable us to explore new avenues,. as once we were pioneers of residential environmental education. we look forward to being at the forefront of communlty engagement around cllmate change. Page 7

The Countryside Education Trust Trustees, Report For the year ended 31 December 2022 The new strategic plan was postponed due to the extremely high levels of uncertainty. The intention now is that we will move ahead with this process once we have recruited new trustees and a new chair which is planned for 202312024. Prlncipal Sources of Income 2022 funding has been more varied than 2021, with less reliance on ihe slate post furlough, and more on generating new opportunitles. WeddlnBS and non-school residentlal income have been useful sources of income, alongside some stalwart family Trust funders, the Heritage Lottery and the Ernest Cook TIu5t. We also benefitted from having a secondee f¥om John Lewis for six months to work for the Chief Executive, which was of huge benefit to our small team. We are registered with the Charity FLFndralslng Regulator but have had no need to report any incident5 during 2022. Risk management Volatility in the markets, a surge in inflation and a war were hard to plan for, coming on the heels of a global pandemlc. The cost-of-llving crlsls is an ongolng challenge to familles. Pressure on toachers, alongside a pay dispute. has decreased their appetite and capacity for bringing children away. These are all risks that we monitor ès part of a rolling risk assessment pro￿sS. Reseyves Policv The Trust holds total funds of £968,81312021'. £775,020) at the year end, of which E391,94712021: £172,979) are restrlcted. Free reseNes are arrlved at by adjustSng for the fixed assets required to continue to operate the Trust of £545,23712021'. £593,738). Free reserves therefore amounted to a surplus of £31,62912021.' £8,3031. Trustees aspSre to three months of reserves but recognise the unusual situation of charities and the pressures they are ui)der in current times. They appreciate 2022 has been a very difficult time for the charity financially but they believe in tlmè they can get back to their reserves policy. Afte¥ making enquiries, the Trustees have a reasonable expectation that the chaiity has adequate resources to operate in the future. For this reason, they continue to adopt the going concern basis in preparing the finar)cial statements. Structure, Governance and Management The charlty Is governed by a Trust Deed and is an Unincorporated Association. The Montagu Family is entitled to chair or be represented on the governing board as fouE)ders. No other body has the ablllty to be automatically represented. Trustees are recruited through advertising and recommendation. As part of the recruitment process, they recelve a briefing from the CEO, a tour of both sites and are inteNiewed by two or three Trustees. before being appointed by the Chair on behalf of the board. TtUStee meetings were online fof the bulk of 2021. Services are contracted oul where It is CO51 effective, including for IT, Finance, HR and website Support. Public event fundraising and weddings were mostty unable to take place- these rely on external contractors normally. Page 8

The Countryside Educatlon Trust Trustees, Report For the yeay ended 31 Deeember 2022 Trusteès, responslbllltles statement The trustees are responsible for preparing the tiustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare flnancial statements for each financial year which glve a true and fair view of the state of affaiis of the charlly, and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select sultable accounting policles and then apply them conslstently,. obseNe the methods and principles in the Charitles SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the flnancial statements on ihe going Concern basls unless It Is inapproprlate to presume that the charitable group will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the ¢harity'5 transaction5 and disclose with reasonable accuracy at any tlme the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safe8uarding the assets of the charity and hence for taking reasonable steps for the prevention and detection ot fraud and other irregularities. The Trustee5 are responsible for the maintenance and integrlty of the charlty and financlal Informatlon included on Ihe charity's website. Legislation in the Uniled Kingdom governing the preparation and dissemination of financial statements may differ from le8151atlon In other lurisdictlons. 0511012023 This report was approved by the trustees on........................ and signed on their behalf by- Lord M of Beaulieu Page 9

The Countryside Education Trust Independent examiner's report To the trustees of Countyyside Education Trust I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2022. Respe¢tlve responslbllitles of tyustees and examiner As the charity's trustees of the Company land also Its directors for the purposes of company lawl you are responsible for tl)e preparation of tlie accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts ofthe Company 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 your charitvs accounts as carrled out under 5ertion 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Basls of independent examiner's report My examination was carried out in accordance with the general Directions given by the Ch3rity Commission. An examination includes a review of the accountlng records kept by the charlty and a comparison of the accounts presented with those records. It also includes consideration of any urbusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fair vie￿1 and the report is limited to those matters set out in the statement below. Independent examlnerfs statement Since the Company's gross income eX￿eded £250,00() your examiner mLFSt be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am quallfied to undertake the examinatlon because l am a member of ICAEW, which 15 one of the listed bodies. I have completed my examinalion. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. l. actountlng records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or 2. the accounts do not accord with those records- or 3. the accounts do not comply wlth the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts glve a 'true and fair view, which is not a matter considered as part of an independent examlnation. or 4. the acwunts have not been prepared in accordance with the method5 and principle5 of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Flnanclal Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021. Page 10

The Countryside Educatlon Trust Independent eMaminer'5 report To the trustees of Countryside Educatlon Trust I have no concerns and have come across no other matters in connection wlth the examination to whlch attentlon should be drawn in this report In order to enable a proper understan(ling of the accounts to be reached. Casldhe Baleri ACA CTA For and on behalf of Saffery LLP Chartered Accountant5 Midland House 2 Poole Road Bournemouth Dorset BH2 5QY Date- 11 October 2023 Page 11

The Countryside Education Trust Statement of financlal activities For the year ended 31 December 2022 Restrlcled funds 2022 Unrestrlcted funds 2022 Tolal funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activities other trading actlvitles Other income 337,049 40,558 176,605 47,404 9,345 377,607 176,605 47,404 9,345 122,296 87,791 38,801 109,275 Total Income 337,049 273,912 610.961 358,163 Expendlture on: Raising funds.. Voluntary Sncome Fundraising trading Charitable activities 20,958 15,163 262,966 20,958 22,894 373,316 14,151 4,401 305,020 7,731 110,350 Total expendlture 118,081 299,087 417.168 323,572 Net Income before transfers 218,968 125.1751 193,793 34,591 Transfers between fund5 Net movement of funds 218,968 125,1751 193.793 34,591 Recorttiliation of funds.. Total funds at l January 2022 172,979 602,041 775.020 740,429 Total funds at 31 December 2022 391,947 576,866 968,813 775,020 All activities relate to contirbuing operations. The notes on pages 15 to 31 form part of these financial statements. Page 12

The Countiyslde Educatlon Trust Balan¢0 sheet As at 31 December 2022 2022 2021 Not8 Flxed 8SSÈt$ Tan8lble assets io 800.134 616,431 Current assets Stock Debtors Cash at bank and In hand li 12 14,047 78,151 181,490 17,474 99,796 158,838 273,688 276,108 Credltors: Amounts falllng (JUÈ wlthln one year 13 170,005} 172.5191 Net current assèts 203,683 203,589 Cyedltors: Amounts falllnE due after more than one year 14 135,0041 145,OlJOI Net assets 968,813 755,020 Represented bv: Reslrlcted funds Unrestricted funds 15 15 391,947 576,866 172,979 602,041 Total funds 968,813 775,020 The flnanclal statements were approved by the trustees on 0511012023 . and sl8ned on thelr behalf by: Lord MontaBu of Beaulleu The notes on pages 15 to 31 folm part of these flnanclal statements. Page 13

The Countryslde Edu¢atlon Trust Statement of cash flows For the year ended 31 December 2022 2022 2021 Note Net cash provlded byl{absorbed Inl operatln8 acilvlties 17 247.355 147.3691 Cash flows from investing activities Purchase of tangible flxed assets 1216,7031 19,8721 Net Cash used in investSng activities 1216,7031 19,8721 Cash flows from financing activitie5 Loan repayments Loan advances 18,0001 53,000 Net cash (used in}/provided by financing activities 18,000 53,000 Change In tash and cash e4ulvalents In the reporting period Cash and cash equlvalents brought foward 22,652 14,2411 158,838 163,079 Cash and cash equivalents carried forwafd 181,490 158,838 The notes on page5 15 to 31 form part of these financial statements. Page 13

The Countyyslde Edu¢atlon Trust Notes to the financial statemènts For the year ended 31 December 2022 Accounting policie5 1.1 Bas15 of preparation of financial statement5 The Countryside Education Trust Is an unincorporated charity. The f5nancial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Praclice: Accounting and Reporting by Charllles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5 1021 effective l January 2019 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charlties Act 2011. Countryside Education Trust constitutes a public benefit entity as defined by FRS 102. 1.2 Going concern The financial statement5 have been prepared on the basis that the charity is a going concern. The Trustees have consSdered the current uncertainties and do not believe they will impact the ability of the charity to continue it5 activities for the foreseeable future. They have looked at the likely timing of being able to open the centre again and believe that this along wlth their cash reserves means they will be able to meet thelr obligations g¢Jing foThvard. 1.3 Fund accounting Genelal funds are unrestricted fund5 which are available for use at the discretion of the trustees in furtl)erance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprlse unrestrlcted funds that have been set aside by the trustees for particular purpose5. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by donors or which have been raised by the charity for particular purposes. The costs of raislng and administering such funds are charged against the specific fund. The aim 2nd use of each restrirted fund is set out in the notes to the financial statements. 1.4 Income All income is recognised once the charity has entiilement to the income, it is probable that the income wlll be received and the amount of income receivable can be measured rellably. Page 15

The Countryslde Education Trust Notes to the financial statements Foy tho year ended 31 December 2022 Accountlng policies Icontinuedl 1.4 Income Icontinuedl For legacles, entitlement is taken as the earlier of the date on whlch elther.. the charity Is aware that probate has been granted, the estate ha5 been finalised and notiflcati(>n has been made by the executorlsl to the Trust that a distributioii will be made, or when a distribution is received fiom the estate. Receipt of a legacy, in whole or Sn part, is only consldered probable when the amount can be measured rellably and the charity has been nolified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated a5 a contingent asset and disc105ed if material. Glfts In kind donated for distribution are included at valuation and recognised as Income when they are distribijted to the projects. Gifts donated for resale are included a5 income when they are 501d. Donated faclllties are Included at the value to the charlty where thls can be quantified and a thlrd party Is bearlng the cost. No amounts are Included in the financial statements for Services donated by volunteers. Income tax recoverable in relation to donations received under Gift Aid or deeds of coverbant 15 recognised at the time of the donation. 1.5 Expenditure EKpenditure15 recognised once there is a legal or constructive obligation to make payment to a third partyi It is probable that settlement will be required and the amount of the obllgatlon can be measured reliably. All expenditure Is accounted for on an accruals basis. All expenses Including suppoit costs and Eovernance cost5 are allocated to the applicable expenditure headings. The cost of generatlll8 funds include the cost incu¥red in Benerating voluntary income and fundraising trading costs. These costs are rega¥ded as necessary to generate funds that are needed to finan charitable activitie5. Charitable expenditure comprise5 those cost5 incurred by the charity in the dellvery of Ils activities and services to enable the charity to meet its charitable aims and objectives. It includes both costs that can be allocated directly to such activities and those c05t5 of an indlrect nature to support them. Governance costs include those costs assotiated with meetlng the con5tStutlonal and statutory requirements of the charity and include audit fees, leEal advicefortrustees and costs linked io the strategic management of the tiust. Support costs are those costs which enable the fund generating and charitable activities to be undertaken. These costs Include finance, human resources. communicatlon and professlonal fees. Where expendlture incurred relates to more than one cost category it is apportioned on a time or usage basis, over and above a de minimis figure. 1.6 Operatlng leases Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. Page 16

The Countryside Education Trust Notes to the financlal statements For the year ended 31 December 2022 l Accountlng policies Icontlnuedl 1.7 Stocks Stock5 for resale are valued at the lower of cost and net realisable value after making due allowar)ce for obsolete and slow-movlng stocks. Stocks used as part of a charitable activlty are valued at falr value. Cost includes all dirett costs and an appropriate proportion of fixed and variable overheads. 1.8 Tangible fixed assets and depreciation Tanglble flxe(l assets are tarrled at cost, net of depreclatlon and any provlsion for Impairment. Depreciation is provided at rales calculated to write off the cost of fixed assets, less their estimated residual value, over thelr expected useful Ilves on the following bases: Bulldlngs Machinery and equipment 2~5% stralght Ilne 20% straight Ilne Motor vehicles 25% straight line Tangible fixed assets costing less than £500 are not capitalised and are written off in the year of purchase. All assets are examined annually for potential impairment and any material deductions in value are written dowii at the year end. 1.9 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured relSably by the charity,. this is normally upon notification of the interest paid or payable by the Bank. 1.10 Debtors Trade and other debtors are recognised al the seltlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a Short maturity of three months or less from the date of acquisition or opening of the dep051t or similar account. 1.12 Creditors and provisions Creditors and provislons are re¢ognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discoLFnts due. Concessionary loans include those payable to third partie5 which ale interest free or below market interest rates and are received to advance charitable purposes. All loans are measured at cost. less impairment as permltted by Section 34 of FRS 102. Page 17

The Countryslde Educatlon Trust Notes lo the flnanclal statements For the year ended 31 December 2022 l A¢countlng pollcles Icontinued) 1.13 Penslons The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 2 Income from donations and legacies Restrlcted funds 2022 Unrestrlcted funds 2022 Total funds 2022 Restrlcted funds 2021 Unrestricted funds 2021 Total fund5 2021 Individual donors Friends of CET Grants 221,970 36,878 1,371 2,309 258,848 1,371 117.388 1,807 7,630 1,222 9,437 1,222 111,637 115,079 111,637 Tolal donations 337.049 40,558 377,607 113,444 8,852 122,296 and legacies Durlng the year, the charity received other income of £nil12021'. £107,075) which related to monies received under the furlough scheme during the Covid-19 pandemlc. £nil12021: £2,200) relates to insurance income. 3 Activities to generate funds Restricted funds 2022 Unrestricted fund$ 2022 Total funds 2022 Restritted funds 2021 Unrestrl¢ted funds 2021 Total funds 2021 Fundraising commlttee activlties 1,589 1,589 1,312 1,312 1,589 1,589 1,312 1,312 Page 18

The Countryslde Educatlon Trust Notes to the financial statements For the year ended 31 December 2022 4 Trading activities Restrlcted funds 2022 Unrestricted funds 2022 Total funds 2022 Restricted funds 2021 Unrestricted funds 2021 Total fund5 2021 Charity trading income Farm Income 11,917 33,898 45,815 11,917 33,898 45.815 9,418 28,701 38,119 9,418 28,701 38,119 Wedding income Charlty trodlng expenses Farm purchases Wedding purchases Holiday let purchases 9,401 230 9,401 230 4,981 4,981 382 1962) 382 13,262 13,262 1962 Net incomel lexpenditurel from tradln8 activities 22,922 22,922 14,9811 38,699 33,718 5 Income from charitable artivitie5 Restrlcted funds 2022 Unrestricted funds 2022 Total funds 2022 Restrlcted lunds 2021 Unrestrlcted funds 2021 Total funds 2021 Primary puip05e activity.. Residential fees Non-re5ideiitial fees and Sncome 130,892 45.713 130,892 45,713 60,978 26,813 60,978 26,813 Total 176,605 176,605 87,791 87,791 Page 19

The Countryside Education Trust Notes to the finan¢Sal statements For the year ended 31 December 2022 6 Total expendlture Current Year Staff costs (Note 9} Other dlrect costs Support costs Governance costs Total 2022 (Note 71 Expenditure on raising funds Fundraising Fundraising Irading 20,958 20,958 22,894 22,894 22,894 20.958 43,852 Expenditure on charitable a¢tlvltles PTimary puipose trade 158,917 133,155 73,854 7.390 373,316 Governance 2,400 4,990 17,3901 158,917 158,449 99,802 417,168 Support staff costs 43.892 143,8921 202,809 55,910 Page 20

The Countryslde Edu¢atlon Trust Notes lo the Ilnanclal statements For the year ended 31 December 2022 6 Total empendlture l¢ontlnuedl Prior Year Staff costs INote 91 Other direct ¢0Sts Support costs Governance Costs Total 2021 INote 71 Expenditure on raising funds FundralsinB Fundraising trading 14,151 14,151 4,401 4,401 4,401 14,151 18,552 EMpendSture on charltable actlvltles Primaiy purpose trade 153,568 95,217 49,866 6,369 305,020 Governance 3,000 3,369 16,3691 153,568 102,235 67,386 323,572 Support staff costs 30,224 130,2241 183,792 37,162 7 Support Costs Costs of generating voluntary income Prlmary purpose tradlng Governance Total 2022 offlce costs Staff costs 11.741 9,217 41,374 32,480 2.795 2,195 55,91D 43,892 20,958 73,854 4,990 99,802 Page 21

The Countryside Educatlon Trust Notes to the flnancSal statements For the year ended 31 December 2022 7 Support costs Icontinuedl Prlor year Costs of generating voluntary income Primary purpose tradlng Governance Total 2021 Office costs Staff costs 7,804 6,347 27,501 22,366 1.857 1,511 37,162 30,224 14,151 49,867 3,368 67,386 8 Net Incomlng resources This is stated after charging: 2022 2021 Depieciatlon of tan8ible flxed assets Independent examinerfs fee Operating lease renta15 33,000 1,8QO 5,667 30,386 1,800 5,667 9 Staff employment costs Staff costs were as follows.. 2022 2021 Wages ènd salaries Social security C05t5 Other pension costs 188,639 12,043 2,127 202,809 170,368 11,568 1,856 183,792 The average number of persons employed by the charity durinB the year was as follows: 2022 Number 2021 Number li io No employee received remuneTation amounting to more than £60,000 In elther year. Key management personnel recelved remuneration and benefits totalling £25,87312021'. £33.8421 and pension contribution5 of £1,03512021'. £2,7071- PaBe 22

The Countryside Education Trust Notes lo the flnanclal statements For the year ended 31 December 2022 10 Tanglble flKed assets Buildings Ma¢hihery and equipment Motor vehicles Total Cost At l January2022 884,136 229,862 55,640 1,169,638 Additions 211,971 1,482 3,250 216,703 Disposals At 31 December2022 1,096,107 231,344 58,890 1,386,341 Jepreclatlon At l January 2022 344,520 153,047 55,640 553,207 Charge for the year 22,697 9,930 373 33,000 Elimin8ted on Diswsal At 31 December 2022 367,217 162,977 56,013 586,207 Net book value At 31 December 2022 728,890 68,367 2,877 800,134 At 31 December 2021 539,616 76,815 616,431 11 Stock 2022 2021 Stock 14,047 17,474 Page 23

The Countrysldè Educatlon Trust Notes to the flnancial statements For the year ended 31 December 2022 12 Debtors 2022 2021 Trade debtors Other debtors 29,569 48,582 45,339 54,457 78.151 99,796 13 Creditor5: Amounts falling due wlthin one year 2022 2021 Loan Trade creditors other taxation and social security Other creditors and accruals Deferred Income 9,996 11,669 8,163 20,592 19,585 8,000 16,801 3,057 15,192 29,469 70,005 72,519 14 Credltors.. Amounts falllng due after one year 2022 2021 Bank loans 35,004 45,000 The Bounce Back loan was drawn down In July 2021. It has a term of 72 months. Capital repayment5 will commence 13 months following the drawdown of the loan. A guarantee has been provided by the UK Government under BBLS. Page 24

The Countryside Education Trust Notes to the Ilnancial statements For the year ended 31 December 2022 15 Statement of funds Statement of funds- current year At l January 2022 Incomln8 resourtes Resou￿e5 expended Transfers in/out At31 De¢ember 2022 Designated funds- fixed assets 471,527 115,4661 456,061 General funds General funds 130,514 273,912 1283,6211 120,805 Total unrestricted funds 602,041 273,912 1299,0871 576,866 Restricted funds Biomass Project Fund Home Falm Blomass Minibus Fund Sensory Trail Project Fund E(lucatlon and Farmers Salary Fund 5alarle5 Bird Trail Fund Fort Climate Centre Cllmate Change Centfe Residential Bathrooms Project Envlronmental Educatlon Intern Treehouse Tools Outreach Refurbishment of Residential Centre The OWL Collaboration Green & Blue Horiions Green Cascade Volunteer Programme 17.500 25,000 2,100 22.374 8,750 15,000 2.819 11,2501 16,250 25,000 1.859 22,374 12411 {8,7501 119,6461 14701 13,9571 19501 40,680 36,034 2,349 208,012 1,424 15,000 211,969 2.374 5,000 2,500 20 15,542 12,000 10,000 12,5001 20 115,5421 112,0001 42,000 35,000 38,400 1,000 114,3751 138,4001 62,625 I,ODO 172,979 337,049 1118,0811 391,947 Total funds 775.020 610,961 1417,1681 968,813 Page 25

The Countryside Education Trust Notes to the flnancial statements For the year ended 31 December 2022 15 Statement of funds l¢ontinued) Statement of tunds- prloryear At l January 2021 Incoming resources Re5(Jurces expended Tran5fer5 inlout At31 December 2021 Deslgnated funds- fixed a55ets 486,962 115,4351 471,527 General funds General funds 121,757 244,719 1263,9621 28.ODO 130.514 Total unrestricted fijnds 608,719 244,719 1279,3971 28,000 602,041 Restrlcted funds Biomass Prolect Fund Home Farm Biomass Historic Trails Minibus Fund Visitor Economy Kickstart Grant Livestock Fund Sensory Trail Project Fund Education and Farmers Salary Fund Salaries Bird Trail Fund Climate Change Centre Climate Change Centre Residential Bathrooms Project Farm & Community Assistant Education oflicer Environmental Education Intern Treehouse Tools Outreach Refurblshment of Resldential Centre The OWL Collaboratlon Green and Blue Horizons Project 18,750 11,2501 17.500 25,000 25,000 1,000 {I,0001 2,100 2.100 2,491 12,4911 15,1941 11,5741 {6,2501 15,0001 {3,2421 11,8071 19491 5,194 23,948 22,374 8.750 15,000 2,819 15,000 20,000 6,061 1,807 3,323 2,374 5,000 5,000 1,667 5,000 2,500 82 16,085 12,000 11,6671 15,0001 2.500 20 15,542 12,000 1621 15431 35,000 35,000 8,146 128,0001 42,000 18,1461 131,710 113,444 144,1751 128,0001 172,979 Total lunds 740,429 358,163 1323,5721 775,020 Page 26

The Countryside Education Trust Notes to the financial statements For the year ended 31 December 2022 15 Statement of funds (continued) Summary of funds- Current year At l Januayy 2022 Incomlng re50ur¢es Resources expended Transfers Inlout At31 De￿mber 2022 Designated funds General fun(Is 471,527 130,514 115,4661 1283,6211 456,061 120,805 273,912 602,041 172,979 273,912 337,049 1299.0871 1118,0811 576,866 391,947 Restricted fund5 775,020 610,961 1417,1681 968.813 Summary of funds- prior year At l January 2021 Incoming resources Resources expended Transfers inlout At31 December 2021 Designated funds General funds 486,962 121,757 115,4351 1263,9621 471,527 130,514 244,719 28.000 608,719 131,710 244,719 113,444 1279,3971 144,1751 28,000 128,0001 602,041 172,979 Restrlcted funds 740,429 358,163 1323,5721 775,020 Designated funds The fixed asset designated ftjnd has been set up to reflect those assets held by the charity ihat were acquired previously with restricted funds, principally the refurbishment and development of the New Foiest Study Centre, and improvement5 at the Out of Town Centre. Restylcted revenue funds descriptions The Biomass Project fund is to contribute towards the funding of a Biomass boiler. Home farm biomass Is to support a new biomass at Home Farm. Historic Trails is a project fijnding by the National Park for storytelling in special places. The Minibus fund is to help towards the purchase of a new minibus and signage. Visitor Economy Kickstart Grant is Solent LEP funding foi HR support. Page 27

The Countryside Education Trust Note5 to the flnanclal statements For the year ended 31 December 2022 15 Statement of funds Icontlnuedl The Liveslock fund is to Contrlbute lowards the purchase of livestock. The Sensory Trail Project Fund is to contribute towards the Sensory Trall Project. Education and Farmers Salary Fund is to assist with the salaries of farmer and educatlon manager. The 8ird Trail Fund is to contribute towards the buildlng of a blrd tra51 and hlde for blrd watchlng, together with assoclated display boards and cameras. The Fort Climate Centre Fund is for bulldlng and equipping the new Fort climate Centre Building. The Climate Change Centre Funds contributed towards the cost of purchasing weathei stations situated at the Treehouse and the Residential Centre. The Farm & Community Assistant Fund 15 to help toward5the salaryof a part-time Farm & CommunityAssistant foy 18 months. The Education Officer fund is to assist with the salary of the education officer. The Environmental Intern Fund 15 to support five individuals on the Environmental Education Internship programme. The Outreach fund is to support a local community farmlng prolect. The Refurbishment of Residential Centre fund is to support upcomlng malntenance work to the residential centre. The OWL Collaboratlon fund is a four-year project aimed at disadvantaged young people enablin8 them to experience high quality residential Outdoor Weeks of Lea¥ning IOWLS.) Green and Blue Horizons Project Is a National Heritage Lottery funded scheme for public engagement and outreach. Other restricted funds are for various projects as outllned in the names of the funds above. Page 28

The Countryslde Education Trust Notes to the flnancSal statements For the year ended 31 December 2022 16 Analysis of net assets between funds Analysis of net assets between funds- current year Restrl¢ted funds 2022 Designated funds 2022 Unrestricted funds 2022 Total funds 2022 Fixed assets Current assets Creditors due within one year Creditors due in more than one year 254,897 137,050 456,061 89,176 136,638 170,0051 135,0041 800,134 273,688 170,0051 135,0041 391,947 456,061 120,805 968,813 Analysis of net assets between funds- prlor year Restricted funds 2021 Designated fund$ 2021 Unrestricted fund$ 2021 Total funds 2021 Fixed assets Current asset5 Creditors due within one year Creditors due in more than one yea 22,693 150.286 471,527 122,211 125,822 172,5191 145,0001 616,431 276,108 172,5191 145,0001 172,979 471,527 602,041 775,020 17 Recon¢lllation of net movement In fund5 to net cash flow from operatlng activitie5 2022 2021 Net incomellexpenditurel for the year 193,793 34,591 Adjustment for: Depreclation charge5 Loss on disposal of fixed assets Decrease/llncreasel Sn stocks Decrease/lincreasel in debtors Decrease in creditors 33,000 30,386 3,427 21,645 14,5101 16721 129,5291 182,1461 Net cash provlded by gperotlng actlvltles 247,355 147,3691 18 Analysis of cash and cash equlvalents 2022 2021 Cash in hand 181,940 158,838 Page 29

The Countryslde Educatlon Trust Notes to the flnanclgl statements For the year ended 31 December 2022 19 Penslon commltments The charily partlclpates in a defined contribution pension scheme. The assets of the scheme are held separately from t1105e of the cliarity in an independently administered fund. The pension cosl charge represents contributions payable by the charity to the fund and amounted 10 £2,127 12021: £1,856). Contrlbutions totalling £2,12712021'. £111) were payable to the fund at the balance sheet date and are included in creditors. 20 Operating lease commltments At 31 December 2022 the total of the CharSty's future minimum lease payment5 under non-cancellable operating lease payments was- Land and bulldlngs 2022 2021 Oiher 2022 2021 Amounts payable: Within l year Between l and 5 years Afier more than 5 years 5,667 19,204 214,833 5,667 19,204 219,634 783 196 783 978 Total 239,704 244.505 979 1,761 21 Trustees o Trustee or closely connected per50rs received emoluments from the charity and no expenses were relmbursed to Trustee5 during the year. Durlng the year the charity provided Trustee indemnity insurance to cover all Its trustees at a cost of £1,624 12021.. £1,5001. 22 Related party transactions During the year the charity entered into the followlng transaction5 Wlth connected parties. Beaulleu Enterprises Limited I'BEL'I a company In whSch one of the directors was also Trustee of the charity. Recharged servi￿5 provided by BEL amounted to £24,83212021.. £12,075). At the year end the balance owed by the charity to BEL amounted to £37412021: £13,022). Lord Montagu- A Trustee of the charity During the yearthe trust leased all leasehold propertles from the private estate of Lord Montagu. The rentals payable on these properties for the year were £8.88712021: £1,084). The charity also paid £4,313 (2021.. £4,770) for other servl¢es provided by the private estate of the Lord Montagu. At the year end the balance owed by the charily to Lord Montagv amounted to £nll12021.' £1,448). Page 30

The Country51de Educatlon Trust Notes to the financial statements For the year ended 31 DÈcembeY 2022 23 Control The charity is controlled by its Trustees acting In accordance with the terms of the governing trust deed. Page 31

£f4:s.',f¥ Jx :. Countryside Education Trust (Charity No. 2695461 Home Farm, Palace Lane, Beaulieu $042 7YG www.cet.org.uk