The Berkshire Outdoor Education Trust Limited ort and Financial Statements For the Year Ended 31st March 2025 Company Number Chan'ty Number 1552523 282343
The Berkshir utdoor Education Trust Limited nde Directors, Report for the year ended 3 1st March 2025 Company Status Trustees Secretary Registered Address Company Registrations Advisors Purpose and Activities Financial Review Reserve Policy and Going Concern Plans for the fitture Structure, governance and management Key management and personnel remuneration Risk Policy Trustees. Responsibilities Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 9-11
e Berkshire Outdoor Education Trust Limited Directors, Re ort for the Year Ended 31" March 2025 The Directors present their repM)rt together with the financial ststements of the Tht for the year ended 31. March 2025 which are also prepared to meet the requirements for a directors r¢tK)rt and a0llnts for Companies Act PUTposes. The financial statements comply with th¢ Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association. and Accouniing and R¢tK)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their acUllts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Trustees The Ttee8 who served during the year were as follows: B.K. Carter J.P.H.Chishick P.S. Gittings A.W. Hampton A. Hay A.S. Reid G.D. Strudley D.C.H. WilliaDts O. B. E. The Trustees of the Charity are also Direc of the Comwy. J.P.H. Chishick A.S. Reid PaBell
The Berkshire Outdoor Education Trust Limited Direetors, Re ort for the ear ended 3151 March 2025 continued red Address 78180 High Street Watton at Stone Hertford England SG14 3TA trati Company Number Charity Number 1552523 282343 vi Bankers National Westminster Bank Limited. 30 Market Plac4 Newbury, RG14 SAG Solicitors Field Seymour Parkes. The Old Coroner's Cou l London StreeL Reading, RGI 4QW Investment Managers and Advisers Charles Stanley & Company Limited. Dukesbridge Chambers, l Duke Stre¢ Reading, RGI 4SA Po8¢12
The Berkshire Outdoor Edueatio Trust Limited ose and Activiti For over 20 years. until the 2Tb August 2(MM. the Trust owned and managed an outdoor education centre at Rhos-yQwaJiau near Bala in North Wales. The Trust w&8 FMrtially fund¢d through grants by the Unitsry Authorities of Berkshire. These grants were Withdra by the Unitary Authorities with effett from 1° April 2004 and the Directors decided that it would longer be viable to rA)ntinue to provide outdoor education to local Berkshire schools at pric&s that w¢r¢ affordabl¢ to parents of underprivileged childraL The Directors look the decision to sell the centre and this was effected on 27th August 2004. Since that date the proceeds of sale and subsequenl incL)me have Eten placed In bank accounts and stock exchange investrnents in order to earn int¢r¢st and dividends out of wlll'¢h grants have and will be made kn deserving schools. It is. and ¢onlinu¢s to be. the intention of the Directors to award grants. out of the inkrest earne4 dividends and grants reccive(L to those Berkshire schools. which otherwise might not be able lo provide outdcA)r edutiOn to their pupils to enable them to attend Rhos-y<Naliau or oth¢r similar outdoor ucatIon centres. We regard this activity as wholly for the Public Benef inanci Rev The income and expenth'ture of the Trust for the year to 31° March 2025 are shown in the Ststement of Financial Aclivitics on page 6 and the funds available for investment are dis¢losed in the Balance Sheet on page 7. Th¢ Trust's work is entirely reliant on income and returns from its investmenL Our investsnent advisors (Charl¢s Stsnley) are inslJu¢t¢d to inv¢st to maximis¢ the total return within the constraints of a medium to low risk investment portfolio. The investments held at 31° March 2025 were valued at £476.000. a dttrease of £20,223 since the previous financi year en(L Estimat yields over the FK)rfolio were 3.660h. We are delighted ts have made grants of £24.365 to schools during the year. rve Poli and Goin Concern The p)licy of the Directors is to retain reserves to enable the furtherance of thelr charitsble ObjtiveS set out above. The Directo aim to mainlain fre¢ reserves in unrestricted funds at a level of £300.000 to £500,000. The Directors consider that this level will provide Sufficient funds to respond to application for grants and ¢nsur¢ that supw)rt and governanL% costs are covered. The balance sheet remains strong with net funds of £5CK),944 and no IndebtednS. The Directors consider that adequate resouTCU are available to fund the activities of the Trust for the foreseeable future. Tr DIrt0 are of the view that the Trusl is a going ¢on¢enL Pa8e13
Plans for the future W¢ do not envisage any SAlfiCant change5. We will continue to seek to make grants to Berkshire based schools to enable them to experience outdoor education centre5. We will monitor investment returns and performance and plan to make grants in line with expe¢ted retunjs. After the valuation of investments at 31 March 2024 being at the higher end of our aims. the valuation of investments at 31 March 2025 has return¢d to a similar level to prior years. The stock market can be volatile and therefore we do not se¢ this as a need to change course in our strategy or aims. Structure Governance and Mana ement The Trust is a charitable company limited by guarantee, inLx)rporated on 24 March 1981. and was r¢gister¢d as a ¢harity with the Charity Commissioners on 12 May 1981. The affairs of the Trust are governed by its Memorandum and Articles of Association. Under the Articl¢s of Association the Directors are elected at the Annual General Meeting to serve for a period of three years. subject ts ratification at ea¢h Annual General Meeting. The liability of the Directors. in the event of the Tt being wound up, is limited to a sum not exceeding £1 per Tntee. The Tntst does not actively fundraise and s¢eks to ¢ODlinue its good work through the careful stewardship of its existing resources. New trustees are appointed by th¢ existing trustees. and put themselves forward for reappointment at the next AGM. Trustees serve for three years after which they may put themselves forward for re-appointinenL At trustees mtingS, the trustees agree the broad strategy and areas of activity for the Tnt, including consideration of grant makmg, inveslmenl r¢serv¢s and risk management policie5 and perforn]ance. The day to day administration of grants and the processing and handling of applications is delegated to the Secretary. ement and Personnel Remuneration Thetrustees Lx)nsidertheboard oftrustees as comprisingthe key managementp¢rsonnel of the Trust in charge of directing and controlling the charity and operating the charity on a day to day basis. All trustees give their time freely and no trustee remuneration Was paid in the year. No employees are employed by the TnLsL The Directors have reviewed their exposure to risk. They have identified the principle risk of ensuring thaL whilst investments need to be secur4 the level of returns earned from those investm¢nts in future needs to match the in¢r¢&sing Charges that outdoor education centr&4 will make to schools as a r¢sult of inflationary pressures. The Directors have retained expert investment nwers to mitigate this risk. All other known risks have been considered and steps taken to mitigate them as far as it is practical to do so. Page14
The Berkshire Outdoor Education Trust Limited Directors, Re ort for the 'ear ended 3151 March 2024 Trustees, Res onsibilities in relation to the financial statements Company law requires Directors lo prepare financial statements for each financial year that give a true and fair view of the stat¢ of affairs of the charitsble company as at the balance sheet date and of its incoming resource5 and application of those resources. including income and expenditure, for the financial year. In preparing these Financial Statements the Directors are required to: Select suitable accounting rK)licies and then apply them consistently Observe the methods and principles in the applicable Charits'es SORP Make judgments and estimates that are reasonable and prudent sthte whether applicablc accounting havc been lolloweiL subject to any materia] departures that must be disclosed and explained in th¢ financial statements. and Prepare the financial stat¢m¢nts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position ofthe charitable company and to enable them to ensure that the Financial Stat¢mcnts comply with the Companies A¢t 2006. Charities Act 201 I, the applicable Charities (Accounts and Rep)rts) Regulations. and the provision of ihe Trust deed. Thev are also responsible for safeguarding th¢ assets of the chantable company and thking reasonable steps for the prevention and deleclion of fraud and other ieSUlarlties. The trustees are responsible for the maintenance and integTity of the COTporate and financial inforniation included on the company s vebsite {Iviiryv.b¢rkshir¢outdooreducation.org.uk) in accordance iiith l¢gislation in th¢ UK. Approved b the Board of Directors signed on their behalf by.. A.S. Reid Pa8e15
n Trus tstement of Financial Activiti Includin Income and Ex enditure Accoun For the Year ended 31" March 2025 lnvostrlTr• knc¢xr• 15m7 Int¢$1 reeefvled Grants rTh2d• to xh¢)015 ta4C¥JI 15.0491 r27.4491 N•t goin1lbsl on IS7 N•1 Mov•* In lundi (1281) Total funds 1ht 498.&)3 2.192 The Statement ofFinan¢ial Adiviiies in¢ludu 1811$ Icrfw rwiwj in the year. All income and &¥penditure dwive from ¢oniinuinB activities. The notes forn? part of these F¥nancial Stst¢m•J. PaBe16
The Berkshire Outdoor Education Trust Limited Balance Sheet at 315t March 2025 Inveslm&nts 476X 496.222 10141 fix •$5•1s 476,IXX) 496,222 Cosh al Bonk ond wllh lh¢ Investment Manoger 24.944 S,970 Total curr•r* as¥•15 24.?44 5.970 S,944 502,192 Unrwtrktod Ggnwol FvrKIs SLMI.944 S01192 5ry).944 502.192 For the year ending 3 1st March 2025 ihe ¢omp8ny was entitl io exemption from audit under wtion 477 of the Companies Act 26 relating to small companie5. The members have not required the company io obiain an audit of its accwnts for the year in queslion in accordance Section 476. The DIrecrS acknowledge their Tesponsibiliues forcomplying with the requirement$ of the Act with respect to accountin8 records and for the preparation of accojnis. These accounts have been prepared in accordance with the provisions appli¢able to ComnieS subjext ¢0 the small companies, regime. The financia] StateTnents were approved by the B0d of TTUSte¢s on on their behalf b and are Signed A.S. Reid Trustee J.P.H Chi5hick Tfustee Company number Charity number 1552523 282343 Page17
The Berkshire Outdoor Educati Trust Limited ment of Cash Flows for ear endin 31" March 2025 07AJ9) 127,Wl 15A49 15.021 Netsokniladdtbrsj 12388 36234 8ank charges {ioi io 47 hueasellde¢Jeosel eosh 01 Cth and wsh eqlents01thS b¥gn9 d the yec 24.911 &970 Pa8e18
The Berkshire Outd r E ion Tr Limi Notes forniin art of t For the Year Ended 31° March 2025 at l. Accountin Policies Basis of PrepfirAtn The Financial Statements have been prepared under the historical CA)St nventiOn, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these atcounts. The Financial Statements have been prepared in accordance with the Statementof Rea)mmeAded Prac4ic£: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and th¢ Companies Act 2006. Funds held by the Trust are unrestri¢t¢d general funds. These ar¢ funds that can be used in accordance with the charitable objects at the dIretIon of the trustees. Income re¢o8nition Income is reCOlSed when it has been 1Ved by the Trust or its invesknent manager in c&8h. Expendlture recognltlon The Trust has minimal expenditure outside of its charitable giving. Such expenditure is accounted for on an accruals basis. All expenses in¢urred are nsidered as support costs including the inv¢stm¢nt management costs of £4,715. Grants to schools are payments made to schools in the furtherance of the charitable objects of the Trust. The ant is accru onrx th¢ r¢cipient has been notified of the grant award. Taxatlon As a registered charity the ¢haritsble company is generally exempt from Income Tax and Capital Gains Tax. ix et li Investments are a fonn of basic financi instrurnent and are initially Ognised at their transaction value and subsequ¢ntIy measured at their fair value as at the balance sh¢¢t date using the¢losingquoteA market price. The 8tatementof financial activitie8 Includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acqui put Options. d¢rivativ¢s or other wmplex financial instruments. Page19
he Berkshire Outdoor Education Trust Limited The main forni of fmancial risk faced by the Trust is that of volatility in equity markets and invesknents markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment conrxrning equities and within particular sectors or sub sectors. All gains and losses are taken to the Statement of Financial Activitie5 as they arise. Realised gains and losses on investments are calculat¢4J a5 th¢ difference between sales proceeds and their opening carying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their canying value. Realised and unrealised invesknent gains and losses are wmbin¢d in the Statement of Financial Affairs. M•v•m•nl In Ix•d fi•d Inv•slm•nh 11a1VuO h lonvard 491322 492,803 Add.. addmons lo Inv•strrt•nl 36,778 (57,513) 43,972 DIp0 ¢Jl eorylng valu• 156,3601 A¢l'. n•1 guhlllDsJI on reva 15,807 vabJ• eanl•d k+r¢wd 476MI 496,222 No individual security represented more than 50A of the market valu¢ at the year end. Investment at fair vue rised: Fk•d h)corrn 19.057 96A17 UK Eqvllbs IUA86 173,40) t•motbnal Equlty op•rty and allernathw 148,771 162,13S 4).707 MLx•d Invwlm•nt fvnds 2j.ioi 23.164 Total 470.OLWJ 496,222 PaBe | 10
The Berkshire utdoor Education Trust Limited 3. Funds 8akinca brouktht fowjrd rncrxno StYJ.I92 15.449 4983 15.021 Oonalbnsreco Int•st 10 R¥pgn¢ltyrg 7.4491 Gahsand Ibs%es1 15.807 Bal2n¢• caffknd laVald 500.944 502.192 co activitie iati ne Eynsm l•xcL bank cha•¥1 Gronts (4.174) 124.365) 12,(ffj0 15.0461 (22.•))I Donotkns r•¢•fv•d N•1 ewhumd In op•rnllbW adl¥ttk•• 117Jlg) r27.4461 5. Net additions / sales of investments Addltrbns (36.mi 143,9721 56,360 Sal•J N•t ((mIdNI9nj 20.786 12,388 PA8el 11