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 Th￿t for
the year ended 31. March 2025 which are also prepared to meet the requirements for a
directors r¢tK)rt and a￿0llnts 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 ac￿Ullts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102).
Trustees
The T￿￿tee8 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 edu￿tiOn 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 Obj￿tiveS 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 Indebtedn￿S. The
Directors consider that adequate resouTCU are available to fund the activities of the
Trust for the foreseeable future. Tr DIr￿t0￿ are of the view that the Trusl is a going
¢on¢enL
Pa8e13

Plans for the future
W¢ do not envisage any SA￿lfiCant 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 T￿￿t being
wound up, is limited to a sum not exceeding £1 per Tn￿tee.
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 m￿tingS, the trustees agree the broad strategy and areas of activity for the
Tn￿t, 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 i￿eSUlarlties.
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
lnvostrl￿Tr• knc¢xr•
15m7
Int¢￿$1 reeefvled
Grants rTh2d• to xh¢)015
ta4C¥JI
15.0491
r27.4491
N•t goin1lbs￿l on
IS￿7
N•1 Mov•￿* In lundi
(1281)
Total funds ￿1ht
498.&)3
2.192
The Statement ofFinan¢ial Adiviiies in¢ludu ￿1811￿$ 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￿ •$5•1s
476,IXX)
496,222
Cosh al Bonk ond wllh lh¢
Investment Manoger
24.944
S,970
Total curr•r* as¥•15
24.?44
5.970
S￿,944
502,192
Unrwtrktod Ggnwol FvrKIs
SLMI.944
S01192
5ry).944
502.192
For the year ending 3 1st March 2025 ihe ¢omp8ny was entitl￿ io exemption from audit under wtion
477 of the Companies Act 2￿6 relating to small companie5. The members have not required the
company io obiain an audit of its accwnts for the year in queslion in accordance Section 476. The
DIrec￿rS acknowledge their Tesponsibiliues forcomplying with the requirement$ 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 Com￿nieS subjext ¢0
the small companies, regime.
The financia] StateTnents were approved by the B0￿d 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 0￿1
Cth and wsh eq￿lents01thS
b¥g￿n￿9 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 PrepfirAt￿n
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 dI￿retIon of the trustees.
Income re¢o8nition
Income is reCO￿lSed 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
11a￿￿1V￿uO ￿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 v￿ue
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
498￿3
15.021
Oonalbnsreco
Int*•st
10
R¥pgn¢ltyrg
7.4491
Gahsand Ibs%es1
15.807
Bal2n¢• caffknd la￿Vald
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 ￿￿((mIdNI9n*j
20.786
12,388
PA8el 11