REGISTERED COMPANY NUMBER: 01897191 IEngland and Wales) REGISTERED CHARITY NUMBER.. 291662 REPORT OF THE TRUSTEES AND FINANCIALSTATEMENTS FOR TrIE YEAR ENDED 31 MARCH 2024 FOR CANTER8URY OASTTRUST Xeinadin Audil Ltd 12 Conqueror Ct Sittin8bourne Kent MEIO 5BH •ADEFB90X• 2411012024 COMPANIES HOUSE A16 235
CANTERBURY OASTTRUST CONTENTS OF THE FINANCiAL STATEMENTS for the Year Ended 31 March 2024 Page CEO and Chairnian's Statement Report of the Trustees 3 to 17 Report ofthe Independent Auditors 18 to 21 Siatement of Financial Activities 22 Balance Sheet 23 Cash Flow Statement 24 Notes to the Cash Flow Statement Note5 to the Financial Statements 26 to 41 Detailed Statement of Finzncizl Activities 42 to 44
rANfERBLIRY OASTTRUST CEOAND CHAIRMAN'S STATEMENT for the Year Ended 31 March 2024 Last year, our focus was on achieving stsbility and making improvements across the Canterbury Oast Trust Icon. For Ihe fin3neial year ending March 2024, we have tantentraied on s1renethenl COT, partiCLrlarly our systems. structures. proce55es. and financial staIrtY. At the tore of these efforts are ihe people we support across the charity. who have been instrumental in driv4ng manv of the changes implemented. We are delighted io share our reviewed Vision. Mission. and Values. all of which were crafted followin8 en8agement events with our stakeholders. Mlsslon: To empower individuality. achieve happiness. and pmwde heh quality in everything we do. Vlslon.. People with learnin8 disabilities Shape an intlusNe sotiety where anythin8 is possible. Value5 and O*havtOVn: Be Courageous o We embrace Challee5 and overcoffle them. o We speak up for what's ri8ht. We show resilience in diffKuli situations. Seek Opportunities o We actively pursue Thew experiences. o We embrace change and adapt quickly. o We prtsadNe tteate oppNtunities. Work Together o We actively collaborate with others. o We communicate openly and transparentty. o We foster a cultufe ofteamwork and respect. These events offered valuable insights. informing our strategy set to launch later in 2024. Our ambitious strategy is based on four important pillars: l. Good is Not Good EnouBh 2. We Do ihe Right Thin8 3. We're ihe Right Size to Thrive 4. We're Environrnental Champions A pivotal moment this year was our brand refresh. We are thrilled to announce that. followin8 a competition, our new logo was designed by Grace. who Ie$ and leams with us. The new logo aligns with the Rare Breed5 Centre IRBCI colour scheme, reinforcing the unity between R8C and COT. The board made the difficult decision to close The Mariners due to ongoing challenges in managing the building safelv for its residents. This closure was handled with compassion and professionalism. with our Executive Team worklng closely with the residents. their families. and cère maThaKement teams to ensure the best outcomes. We are pleased to share that these moves have been svcctssful. resulting in the openin8 of Ixo new supported living Services in New Romnev. In 2023, followng a tender pr¢xes5. the board commissioned a Governance Review from The Connectives. This intluded a review of our paper-based systems, interyiews with Trustees and the ExeoJtTrve Team. observation of Board Meetin8. and a Feedback Day. The review provided positive Comments and recommendations. which the board 15 currentty actioning to further strengthen our praaices. One signifficant change is the reestablishment of a committee strurture. which began in the 2024n025 finantial year. COT now operates wth threè ctsmmittees= Paee I
CANTERBURY OAST TRUST CEO AND CHAIRMAN'S STATEMENT for the Year Ended 31 March 2024 Resource Ilu¥lbty and Rlsk Committee Dan Gower-smith Trevor Pearce julie Read Mkhele Allchin Sophy Aaie¥oet Nominations Committee Ken Hesketh Sophy Haievoet Trevor Pearce Cha5red by Membershlp Karen Blackiston Michaela Tweedley Fiona Ash Sophy Hazevoet Kevin Ergis Another change w35 the dect5ion to move away from a named Company Secretary for COT. Karen 81ackiston resigned from this role, and the sponSibl1111es have been delegated to the CEO. We are pleased to conclude with positNe new5 abwt our irnproved financial position. Despite tontinuing to operate at a deficit. signific3nt improvements have been made. The defitit has reduced by over 65% from the year endin8 March 2023. hi8hli8hted by a 45% improvement in perftsmanet. a gtnertsus legacy donation. and strone investment performance. The deficit in registered care hafved. with IS% redurtion5 in supported livin8 and life skills. Efforts across the charity. includin8 impro¥ed irKome reco¥ery, better staffing and expenditure man38ernenL and Èxplorin8 further 5a¥ings ènd efficienoes, have contribed to this progress. R8C experienced a 70% perfom)ance improvernent, wtsih increased income and visitor number5 against a maintained cost base, brineing it close to breakeven while absorbing over 20% of cors central ovefheads Page 2
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 STRATEGIC REPORT A¢hlvmnt aryl perforrnaKe Charitable arti¥ilie5 COT Supported Livin At the end of 2023 COT had capacity to support 37 people %wthin our 9 supported INin8 locations and had 5 vacancies. This meant that for the Majority of 2023 we were supporting 32 individuals atross our supported living seNites. With the decisioyb to reduce occupancy of one service from 4 to 3. due to the small size of the 2 vacant rooms. and the addition ol two new properties our tapatity rose 10 42_ Throughout mgst of 2023 the ts¥o new properties were not marketed due to a strategic decision to hold these until further improvemenis were made io Ouf SUPPOrted living provision. Once COT was in a better place to open two new services. there w35 a delay in gaining approval from KCC to add them their fvamework due to an intemal restructu within the local authority. This delay inadvertently worketl in our favour as we were then able to hold these vacancies for poiential opportunities for people needing to relocate from The Mariners. Upon the closure of The Mariners these two new services opened with lull occupanry. With some other moves within these seThices, this meant we ended the 2023n4 year supportin8 39 people across 11 services with jvst 3 vacancies. As we continue io make improvements across our supported living servi5 we expert to fill our remaining vacancies throughout the 2024125 year. We are extremely pleased that we have successfully supported 9 people to move into our supptsrted living services and gain a greaier level of independence this year. This include$ 8 people previously 5UPPOrted in COT residential care services. all of whom are doing well following thr transilion5 to supported living. COT Resldentl¥l kfornmodatlo COT continued throughout much of the 2023124 year as it ended the 2022123 year wrth capacity to sttrpport 53 people within 8 registered care services. With S ateornrnodation vacanties this meant we were supportin8 48 people for most of the year. Toward5 the end of 2023. the extremely difficult decision was made to close The Mariners. This was due io it no longer being reasonably practicable to maintain the building to meet modern safety standards as regulatory requirements continLte to increase. During the closure perixI. regular meetings were held with families and staff and people we support wefe supported to work with their social work teams to identify suitable and appropriate alternative accommodation. Managing the moves of 10 individuals. while IbaisiTh8 Wrth 5 different local authorities, demonstrates the dedication and cornmitment of the team from The Mariners. While going through this diifitult peri(rtl themselves, the support they delivered was person centred. compassionate and based hrmty on our core values of being ttsurageous. seeking opportunities and working together. Regulatory requirements also meant the redurtton in capaaty of another Service from 8 to 6. This was to accommodate better fife egress rouies from the upper floor. These changes meant we ended 2023124 with capacity to support 41 people across 7 services. Along wth some other moves. we currently have no vacancies within our gistered Ca services. This, alon8 wrth now havin8 re84Stered managers in pLice with CQC acr055 all locations, is a strong position for COT to be in. Having registered managers in place across all Servi ha5 rneant there has been a focu5 on continuous improvement. structures are in place to ensure regvlatory reouirements are met and staff teams have been able io support people to experience a wide range of additional actmties. Several people were supported to attend Festability. an a¢¢e5sible musit festival that we now hope to supp)rt people to attend annually. P*4
CANTER8URY OAST TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 The trustees who are also d1CtOrS of the tharity for the purpjses of the Companies Act 2CK6. present their report with the financial statements of the charity for the year ended 31 March 2024. The trustee5 have adopted the provisions of Accounting and Reportin8 by Charilies.. Statement of Recommended Practice applicable to charlties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFAS 1021 (effective l January 20191. 08IECTIVES AND ACTIVITIES Purptss of th• Chaiity Canterbury Oast Tfllst Icon is a charity approaching 40 years of experience of developing and deli¥erw)8 support to people with learning disabilities. Summary of the main adivities The seryices we offer include the following.. Residential Cafe Services Long terrn support with attomrnodation for adults with Itaming disabiltlies provided in homes to meeting individuals physical and emotional needs. Supported Li¥in8 Services Support to individuals in their own homes with their own ienancres. Personal ca support is re8ulated bv the CQC. Life Skills Support to adults with learnin8 di5abilitie5 in a range of 5ki115 developfflent and therapeuti¢ artivits. The services are sUPPOrted bythe followsng teams.. People Team IHuman Resource51 Finance Estates and RBC Supporter Engagernent IMarketin& Communications and Fundraisiry) Geo¢raphlul Reach In the operating year. COT was based in Kent and East susse The majority of 5ervice5 provided are Kent based with one residential service based in East Sussex. COT ceased delivering any seryices in Easi sUX in April 2024. However. COT work wth a rtumber of cornmissitining authorities who fund individuals Lmrt of the home borough. Public 8¢nefrt The Trustees tonfirm they have given dut consideration io the Chanty CommissM)n's 8uidance and that cors purpose is for public benefit. Pa8e 3
CANTERBURY OAST TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 People have also been supptyted to access the tommvnity more now they are Éettin£ used to post-covid rtstrictions being lifted. This includes many exciting adventure5 Wlth several people even being supported to steer the ship on a trip down the River Medway aboard the Kin8fisher Markl This is an accessible rNer cruiser. specially adapted to support people with addilion31 needs. Other opportvnities aCSSed this year include "Wheel potential. adapted cycltn& and we were excited to be able to support the restarting of 'Unite- NiÈhttlubs ift Ashfoid. Quality Assuran Framework At the end of 2023 a robust qualtty assurance framework was implemented acro55 our accommodation services. This is comprised of monthly self-audits for the lo¢al management teams to carry out. focussing on health and safety, medication. finantes. staff rosterinE and training. A thorough. pers0n-centd medIcatn audit has been implemented which 15 carried out every 6 months. An annual. live audit ha5 also been implemented. which is carried out quartedy and focuses on a different toplc each quarter. These èudits are carried out by senior managers an¢J Direttors. The audits are live and provide a summary page so that the completson of actions tan be monltored. COT Life Sklls After a diffitult few years throvghout the pandemit. this year ffinal saw the end of the need lor Life Skills much loved Zoom sessions and the return to a full timetable of in person attivtties. Numbers of udentS slo1¥ increased and by the end 012023124 we were 5UPPOrting 133 students169 who live with us and 64 who don) to access 502 sessions per week across our 8 Life Skills service5. Altsngside a welcorne return to Bater norrnality this yeai, Life Skills services have also been exploring Options io reintroduce accredited training. COT have signed a contract with AOA and students will soon be able to work towards certifite$ in a wide range of activities throu8h their Unit Award Scheme IUASI. UAS allows students to e)gage with learnin8 and have iheii achievements formally reco8nised Whi building up a portfolio of certificate5 to evidence their skills, knowledge and experience. As well as continuing to prowde Life Skills services at Plant5 and Pvoduce. Poulton Wood. The Rare Breeds Centre. includine the Discovery Garden. Art At The Farm. The Andemy. and the Catering Training Kitchen. th¢s year saw t post-covid reiurn of a limiied number of sessions in Retsil within the R8C shop and Catering within the Granary Restaurant. One of the hi8hli8hts of the year however had to be the welcome return of the hi8hty successful and much loved Poulton Wogd Open Day. Staff and ran8ers worked hard io traTh51orffl the wood5 inl0 an even more rnagical place than usual which saw hund$ of visrtors havinB a 8reat day out. Another highlight was the'lndia Inspired Fashion SW! Students from Art at The Fafm Spent several months re5earchin& planning and making their outfit5 before taking to the catwalk io show their artisiic talents through the wonderful creations they'd made. Wtth a taste of India being provided by the Lrfe Ski115 trainirtg kitthen. it was a night that will not be fof8otten. COT Ra Breeds Centre The Rare Bfeeds Centre has had a posith¥e year seeing a steady inuease in Visitor numbers. Due to litensing requirements. the difficult decis*Jn was taken to remove the Birds of Prey from the attraction offering in &Jmmer 2023. After more than 20 years wr(h COT and The Rare Breeds Centre. our dedKated Fam) Manager retired. This led to the introduction of a new management structure. Pa8e S
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 With support from Hitrade we welcomed our new accessible irailer to the Rare Breeds Centre. This wès an importani step in our aspiration to make the R8C an accessible attradion. The trailer enables vtheelchair vsers to experience the trartor trailer ride and see areas of tht RBC yte that have previously been inaccessible. A July 2024 enforced c105ure by the UKHU followin8 local E Coli cases wll impact ne financial year results, however the time made available to our staff and COT fully en838ing in the Proce has resulted in kN)Sitive improvements across the site which has improved the customer experience and safety upon reopenin& COT Fundralslng This year our fundraising has been primarityfocu5ed on funding for speofic projects, fulfilling our S goals lor the year and providing excellent stewardshtp to our supporters. Total unrestrirted fvnd5 raised durin8 the reportirlg period were £361,330. Our ie8ul•r giwn& membership and unity lottery budget5 were not rnet. but one-off donations sli8htty exceeded our budget. Two legacies received brought our unrestritted funding total to 373% of bud8ei. In addition. Ouf unbudgeted re5trirted funding was £101,722 making our fundrèisin£ total for the year £463.052. We have many Wnderful people and organisations to thank fortheir generous contributbons over the year. iegatits We know that ihose who leave a leeacy to COT are showng a deep and personal cgmmitment io the future of COT and so we are especially grateful for the generous legacies received this year in the amount 01£266.916.15. Projecl Funding A huge thanks to our projett hjnders who thi5 year contributed to some important projects and to the quality of life for so many of our 5UPPOrted people. Hltrade funded £58.971 to projects ihis year. from the sale of good5 at their charity shop by hard working volvnteers. Their generous funding has positwety impacted our 511PPOrted people and kickstarted the accessibilY improvements on the farm with their funding of our new accessible trailer. Every year. Hitrade coniributes to the wellbeing of our supported people and to the infrn5tructure of our community- They help us to delNer on the excelnt SUPPOrt and service we aspire to. Ken and Debbie Chappell Iwhose 50n is in our accommodation service51 alon8 Wlth their relative jim Gr3harn, have continued their highly successful Problematic Pop Quii fundraisine activtlies. This year. they generated £7.123 bringTrn8 their total lo £49,625 to fund 3 sensory room which is expected tts be completed in 2024. The trio tirelesslv ran pgp quiz fundraisefs at golf clubs and other organisation5 localty. Here is a partial list of the or8anisations thai generously participaied and help to fund this important projert: Mid Kent Golf aub Woodcote Park Golf an5tead Downs Golf Club Bethlem Royal Hospital bowls aub 'New Beccs Hockey Club Shirley Park Bowls Club Bencuriis Park Collyer Bri5tow LL Old Gravesendians Rugby Club Eltham Colleee PTS Pa8e 6
CANTER8URY OAST TRUST REPORT OF THE TRUSTEE5 for the Year Ended 31 March 2024 Frlends of COT, a faniastic, dedicaied group of volunteer5. fflost of whom ave famity membefs of our supported people. have continued their fundraising activities wilh the eoal of providing lite enrbching activities for our supported people including social events, outings. parties and gifts. The total they prowded for this year was É11,859. Regytsr Glvkng Our regular contributors offer a consistency in fvnding that helps u5 Wlth all aspect5 of our charity. with some making major contributions. Thi5 year. a total 0173 individuals. 48 of whom afe famity rnember5 Qf our 5UPPOrted people, contributed £28,486. We are so very gratefvl to the many sUPP¢>rters who keep us in their hearts with re8uLir eivine.. 65 people gave monthty I person gave quarterly I person gave bi-annually 18 gave annually Corporate. Community Groy and Trusts We receive many generou5 donations from corporations. community groups and irusts. sometimes for specific servites and sometimes unrestricted. Here is 3 list of this yearfs fantastic contributors totalling £30,856 in donations.. Rotary aub of Sandwich University of Kent Kin85 Warren School Old Girls, Assotiation Putney 8ridKe Lodge New Romney Meeting Point Great Chart & Godirtton Wl Bencurtis Park Shadoxhurst Chapel The Vallianl Swimming Club Grove End Hov5ing Ltd 81uebell Cemetery & Crematorium N8C Enwronment Crown Prodvcts (Kent) Ltd Conneet25ocièlwork The Pickled Egg Company Hythe Cycling Club Sikocks Farm Shgp Kent County Show The Lofd Ra8lan Find a Volte Romney Tweed Kent County Agricultural Society Rural Payments ABency G O Herbtrt Charitable Trust Savannah Charitable Trust Gilbert Edgar Trust Feather5 Charitable Trust lust Gl¥lng Fundralsers We were so impressed by the siblings of of our supported people who organised Just Giving fundraisers this year with impressive challenges to raise money for COT= Page 7
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 Williarn Hanc¢xl the brother ol one of our supported people raised £306 by runnine the 8ath Half Marathon in October 2023. In March 2024 Clare Stubbington, the sister of one of our supported people. raised £700 participating in a harity boxinÉ event. Just Gl¥lnE On*•off Dor1n5 Many one-off donations were made this year through our Just GNin8 page, including £2,406 in unrestricted donations as well as £62.50 donated to the farm and £272 donated to the academy. COT MèMr$hIP Flnally, oui COT members. most of whom are family members of our swported people, also contribute financially to the Trust. Membership dues this year brou8ht in £4.219 in¢ludirvJ eift aid from our 137 members. Impart Summary Oonations ihis year helped to suppwt the continuin8 hi8h quality of care. skills deveknpmenL therapeutic programmes and Independence support we provide to adults with learnine disabilities in our accommodation Se1¢eS and our Life Skills day pr¢¥rammes. Funding for projects provided additional life enhancing equipment. artivities and entertainment to tsur amaiing tommunity of supported people. We thank you so much lor your continued support of COT. Future Plans We are excited to initlate some crowd-funding actbvities for farm accessibility projects in the coming year and to be working on developing a recrurtment pack for a new Trusts and Foundations Managev. This new role will be dedicated to developing compelling and innovative propDsals. providing Stewardship to our ongoing supporters and developing new funding opportunities. COT PeOe Whilst we have said goodbye to some rtaff we are plèased to have welcomed 76 new staff across the orqanisation during the year including ftexi staff. Our tum¢)ver remains very low compared with the sector average and we ale hoping that there will be more initiatNes to attract and taIn stsff despite the challenges within the settor. The team have been attefidi a number of recruitment event5 and building relationship5 with sthoo15. job centre5 and other ofgani5ations who 5UPPWt people to find employment. We were pleased to have been able to award a salary inuease this year although the cvrrent financial Climate ig a challenge. we are continuin8 ro work with lool authorities to try and increase the intome we reteive to make this poswble. We will be introducing a new HR Mana8ement System which will be rolled out acr055 the or8ant5ation in the financial vear ending March 2025, Ihis will bri08 information to our lin8ertips wth considerable efficiencies in HR processes. Much work has beèn carried out to ersure that robust 5YStems are in place to ensure that we are fully compliant wlth employrnent law and regulations. A full audit of our policies and protedure5 has been undertaken and a project plan has been devekjped to update and introduce new policies to be accompanied wth trainin& dear guidelines and mana8ement toolkils. Page 8
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 After last year's return to aCe-tface training in COT we afe pleased to have delivered a minimum of 38 cgurses over the last year including the introduction of Oliver McGowan trainine as part of our mandatory training provision. We are currently reviewing our mandatory and service specific trainin8 for the next financial year. We have had great success in staff mernbers completrng their Level 2 ApprentKe5hip in Adult Care.. with 6 people achieving distinttitins and a further 7 completing iheir Care Certificate. COTVolunteerini Encouraging and managin8 volunteer activities remains a crucial aspect of our efforts. Volunteers not only augment our resources and help us achieve our Mission and goa15. bvt they also serve as Vltal ambassadors. promotin8 our work wlthin the broader community- Often, our volunteers becorr our rn05t Passnate advocate5. With thi5 in mind. our volunteer coordinator diligently focuse5 on relationship management while also expanding our volunteer pool. This year has brought significant successes in these area5. Since April 1st 2023. we have seen a notable increase in the number of indmduals and corporate groups inquiring about volunteering opportunities wth COT. Our volunteer team, including corporate 8roups. 8ifted a elebration-wgrthy total of 6.420 hours for the 2023-24 fi5czI year-a 67% Incre over the Pfevious year. This rise in volunteer participation has resufted in almost complete c¢)verage for Poulton Wood and Art At The Farm life skills programs for the frrst time. The ovefall increase (an be attributed to several fxtors: Key R*¢Yultment.. Sometimes, re¢ruitinB one well-conneded Indidual can lead to mU1Ple new volunteers. whith has been the case this year. Exlemal Recruitment Efforts: Our sub5UlPtion to Onty Connect and our new advertisin8 pro8ram on Facebook have vielded positive results in attrattin8 volunteers. Corporate Involvement: Many ttsrporations. still operating primari rem¢xety post-COVID. are seeking opportunities for their staff to meet offline and contribute to a worthy cause. This trend is increasing and is expected to double in the neyt fiscal year. Thi5 year. we had 7 corporate volunteer grtyjps assisting in ¥arious attivities induding accommodation service5 decoratin8, weeding our Lrfe Skills Plants and Prc4Juce areas. conservation work in (wjr woodlands and sprucin8 up on the fami. The 2023-24 fiscal year 3150 marked the first time a youne person volunteered at COT as part of their Duke of Edinburgh Bronze Award. This indtvidual plans tg reiyrn as a regular Volunteer zlong with her rnother. and we have more Duke of Edinburgh ¥olunieers lined up lor ihe next fiscal year. Lookin£ ahead. we are opening up opportunities to dNersrfy how we utilise volunteer time and skills. Environmental and conservation projects are attrartine Éreatei fiumbe and younger wlunteers. Additionally. over this fiscal year, four volunteers transition¥d to become mernber5 of our Ilexible staff. and our CO 8roup of re8ular volunteers, who support U5 day in and day out, has gfown tg 67 rnembefs-a 17.5% increase over last year. COT fe$ A pro bono Planned Preventative Mainienance IPPMI of the whole estate was carried out. looking at the fabric. electrical and mechanical installations at each building to assess the lile span. and cost maintenance and replacement works over a 10 year period. Pa8e 9
C4NTERBURY OAST TRUST REPORT OF TH£ TRUSTEES for the Year Ended 31 March 2024 Followin6 the closvre of The Mariners. the board reached the deciston to sell the property, arrangements for the sale are underway. Following an updated review of property viability. the de05ion was reached to sell Harrington Cottage. an accommodation that has been empty for a number of years. The property is currently bein8 prepared for sale. After the purchase of 2 properties in New Romney. these were successfvI added to the KCC Supported Living framework and have provided alternaii¥e accommodation for some individuals movin8 Out of The Mariners. A major projett ihat has been successfully cornpleted in thy5 period was the declsion to outsource cors IT provision with a third party contractor. The roll of this has been successful and has resuhed in greater ton51Stency and seturity. Followin8 the iesign3tion ol the Director of Estates and R8C. the strurture of these areas was reviewed and a recommendation from the CEO was supported by the Board to treate a new role responsible for Commercial Operations. The Director of Commercial Operaiions will be joining COT in September 2024. Flnan¢lal revlew Income aMd Expendoiure COT saw 15% income growth for 2024 eompafed to 2023 £7.640.50812022.. £6.609.7361. 3 key area5 were drivers ol this growth.. Circa £228K additional donation5 and legacy receipts. Uplifts achieved from l¢xal authorities however not keeping pace with staff c05t irKreases. £260KI17% income 8rovAh forthe Rare Breeds centre. achieved through increased visitor numbers whilst maintaining spend per head leve15 in the shop and restaurant The gift aid recovery process has also been significantly improved. Expenditure grew by £164,74812%. Si8nifi(ant progress has been made to bring staff hour5 in line with our funfled hours. Our % salary cost to income reduced from I(6 in March 2023 to 9)% March 2024. with a target to match our funding 0165% there is further work to be done. Significant change of the management tearn and the centrèl function has been absorbed with a 4% reduction in cost. The c105ure of Mariners and opening of Old Port Place brought signrfKznt unbudgeted c05t. however it Was Positive that many other areas tyJtperformÈd therefore we were able to absorb thi5 and rna1n ahead of our budgeted performance. Overall our deficit reduced by £l.Im/70% on ihe prior year with all area5 Outperforrni budget. Although it is not expect improvements althou8h of smaller Scale to continue through the new year. Cash flow COT had a de(ase in cash reserves lor 2024 to the value of £9(P3.454. 70% of this decrease is from operatin artivities. Despite the ongoing deficit chamenges due to rtsin8 interest rates it wa5 agreed commercially correct to settle cof5 only loan in full. alance sheet Net assets fell to £7.740.15112023.. £8.272.4471. largely due to the decrease in funds from operating artivities as detailed previously. Other balance sheet items femained controlled and consistent to previovs years. Page 10
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES fgr the Year Ended 31 March 2024 STrATEGIC REPORT Flnantial review Imiestment policy and obierti¥es The memorandum of Ass¢xiation allows the Trustees to make and hold InVements usinE monies not required for imrnediate vse. The Trust has very significant investment in property and has a policy in place to guide investing an greed proportion of the cash depostts io impvove investment returns. The Investment Policy was rev*we¢l dvring the year and agreed on cash being made availablt for long term and short tefm investments. cors investrnent with the CCLA wa5 approved ènd currentty at an agreed level. with additional 6 month treasurer investments for any excess over and above our reserves policy. The value of ?n initial investment with the CCLA of £7SO,000 made in 2015 stood at £1,615,766 as at 31 March 2024. The investment objective for the remainder of the Trust's reserves is to ensure they are readily available to meet unanticipated cash Ilow requirements. Reserves policy At 31 March 2024 the charity had total reserves of £7.740.151 12023-. £8.272.4471 which included £5.Im 12023.. £5.3ml represented by tsngible fued assets. £5.948 12023= £62.7621 designated funds and £1,468.057 12023=£1.468.0571 restrided funds. It is the general policy ot COT to appty its income towards charitable objective5 as muth as it reasonably can and hence to avoid accumulatin£ excessive reserves. Where considered appropriate and being mlndful not to overcommit the Charity borrowings are undertaken to fvnd elements of signlCat capithl projects. The poli(v of the Trustees 15 to maintain at least the minimum of cash reserves and working capttal sufficient to meet known development plans. as well as ihe day-to-day needs of the Trvst. whilst retaining a reserve to provide for the long term support of those it 5UPPOrts and to give security to employees_ The Trustees also recognise the risk to income posed by factors outside the organisation's control. such 35 local authority commissioning decisions and funding,. social care policy chan8es- adverse weather at peak visitor time5.. competition from other vi51tor attrattions or the outbreak of toniagious disease. Having considered ihese fartors. the Board of Tru5tee5 reviewed its Reseffts Policy thJring the year and agreed to maintain a target range of beN¥een 4 months and 6 months of operating costs at all times. This timeframe reflects the nature oi cors business as a Social tare provider and the requirement to safeeuard all servsce users by helping them secure svitable alternative acc¢)mmodation in the event th3t the Charity ceased to operate. Goin8 concern The Trustees have considered whether it Is appropriate to prepare the financial statemeAts On the basis that the charity is a Roing concern. The assessment has induded the financial outlook folknwing a year with an operalin8 deficit and net decrease sn cash and cash equivalents. as well as the coniinyed progres5 being made to return COT to surplus position whi15t maintaining CQC standards. As set out in the accounting polic5, the assessment includes consideration of anticipated income Iwith secure contracts in place for charitable activrtie5 Wtth the Local Authority) and expenditure commitments for a ptritid of twelve rnonths from the date of approval of these financial statements. The current projertlon for the 202412025 fiscal year is a def"t of approximately £70JX excluding legacies, our 3 year forecasts show a return to surplu5 and are being further revlewed in line with the new strategy roll out, the combined result bringing confidence to the recovery and long terrn viability of COT. COT continues to have 5ufficierbt resee5 to absorb the curreni period of deficit. whilsi attwely marketin8 2 vacant properties. Atthough it 15 a desire to reinvest proceeds from these Sale a proportion will be utilised to maintaFn our reserves polity outlined previovsly. The tnJsiees are in agreement ihat this 3 year position is achievable and will strengrhen cors ability to deliver it's charitable objectives. mission and vision. Page 11
CANTERBURY OA5T TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 STRATEGIC REPORT Looklnl Fonmard Our straie8y is now in its final stages. with adions based on ftyjr important pillats= l. Good is Not Good Enou8h 2. We Do ihe RightThing 3. We're the Aight Size to Thrive 4. We're Environmental Champions As this takes shape it will 8Uitle what the tomin8 years will look like for COT. Year entl Marth 2024 has very much been about ree5tablishinB strong foundations. and this remains our focus into the new year. It 15 expected as we move into 2025 stability in financials and support will very much be imbedded. whtch will enable focus to 5Wltch tg exciting projetts that can intrtase cors impad with ambitions to Itad in our stttor. STRUCTURE. GOVERNANCE AND MANAGEMENT Go¥einln8 dment COT is governed by a Memorandum and Artides of A$slat)n and is a registered charity, nufflber 291662. Thè tharitable purpose is to provide for the training. Instructn. employment. future livin& occupation. accommodation. sustenance. maintenance and care ot people with a leaming disability. whether or not they have anv oiher disability. At an EGM held in April. the membership supported the prowed special resolut to amend the articles of ass¢xiation at Clause 3 to include 'autism' as a condition of those the Charity is able to support. The application to amend the Memorandum has been submitted to the Chariiy Commission. Pale 12
CANTERBURY OAST TRUST REPORT OF THE TRUSTEES for the Year Ended 31 Marth 2024 STRucllJRE. GOVERNANCE AND MAP4AGEMEiir OrKanlsatlor41 strKture Under the terms of the Articles of Assotiation. the COT is managed by a board of up to eleven TTUStee5 and a maximum of 3 co-opted persons. Each Trustee may serve a maximum of three tems ol three years. The Trustees who served during the yeav are listed on page 16. The boafd of frvstees has responsibility for stfategic de¥e10pffnt and for overall governance of COT. Tru51ee Eledion, Indurtton & Training Trustees are elerted or relected. as appropriate, by the Votes of Full Members at the AGM. Induclion for Trustees is arranged and co-ordinated on an individual basis. New Trustees spend time with the Chair of Trustees, the Chief Executive and key members of the Senior Manaeement Team. They also visit the Trust's service5 to meet those we support and staff. Trustees are requifed io undenake mandatory training via e-learning and attend any other training events as Identifd. The board currently has one vacancy. There is one Trustee coming to the end of their maximum nineear tem in October 2024. COT considers the 8oard of Trustees and the Chief Executive a5 their key management ptrsonnel. Salary for the CEO is set annually by the Board of Trustees. taking into aCCOLrnt indNidual performance. proportionality with Salaries across the organisation. market data and the charity's ability to pay. Charity ManaBemefit TheTru5tee5 delegate responsibiliiy for cors executive leadership and mana8ement to the Chief Executive. The Senior Management Team 15 cornprised of= Chief Executive Officer Direttor of Estates and R8C Director of People and Culture Dirertor of Finance threttor of Operations Direttor of Quality and Change Head of Supponer En£aRement Details of people who worked within the Senior Management Team throughout the year can be found on Page 2. COT remains a member of the Kent Inte8rated Care Alliance IKICAI. an independent body to support local eare providers in Kent and VODG, a membership body representin8 or8anisations within the voluntary sector who work alongside disabled people. The membership of these OrganisatTr5 has been maximised thiou8hout the year within the management struciures. Governance Throughout the financial year. the board operated wtthout a committee structure in place and increased the frequency of board meetin8s. A new cgmmitlee strurture has been introduced from April 2024. Throughout the year. the followin8 meetings look place 6 8oard Meeting 15petial Board meing Pa8e 13
CANTERBURY OAST TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 2 Board Away Days 4 Nominations Commtttee Meetings 2 Finance Project Group Meetings Rlsk management COT'S Risk Register has had a lull review and directorate operational risk r¢'SterS have been retWe or developed. The principal risks to COTare- Quality of care and support or risk to safety Workforce- difficulties in recnjitment and retention Failuie to achieve financial balance Compliance with re8ulators InfectiOU5 disease Risks are mana8ed through robust policies. procedures and Strategies which are monitored through the charity governance strueiure and maintainin8 of a high level risk register. Comfflunkalio COT has successfijlly implementtd a tomprehensNe communication5 StrateKy over the past year. leading to significant improvement5 in public awareness ol the ABCS connertion to COTand its mission, as well as an enhanced sense of community across the Trvst. Communkatkn Oblertl¥es Forthe past year. our communication effort5 were driven by the followin8 objertives= l. Incorporate the messaae of R8Cs relatimship to COT in all external comms for increased awareness of COT and it5 mission. 2. Enhance the sense of tommuntty and culture acr055 the Tt. 3. Increase participation ol supported people in communications. 4. Increase visitstion to the Rare Breeds Cenire. 5. 800s1 supporter engagement and contributTr5. 6. Intrease volunteer recruitment. 7. Develop consistency in branding for both R8C and COT ¥thile mainrainin8 separate but related styles across the Page 14
CANTER811RY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 STRUCTURE. GOVERNANCE A14D MANAGEMEiir KeyAthie¥ements Social Media Content.. We continued to increase followers acros5 all Social media platforms. Greater engagement from services staff and larm crew to pro¥Fde content has been highly successful. and supported people are now dirertly approaching our team for their news to be postetl online. News outlets now mention following our social media and known8 olthe connection between COT and RBC. o RBC Facebook viwts this fiscal year (including both paid and organitl increased by Ill% over last year despite spending 94% less on advertisine. RBC Insta8ram pa8e visits thi5 year increased 55.7% over last year. o COT Facebook visits this fiscal year increased by 46.3% over last year Emall Carnpar Success.. Ovr external email campaigns saw a 16% increase in open rate5 over the previou5 year. new internal ernail campaigns resulted in a robust average 71% open raie with a 22% (1k through rate. Website Tender.. A kKal web developinB firm has been shortlisted to create our new combined COT and RBC website. This will be a huge move fofward for both COT and R8C communications in 2024. Wb5itÈ Traff and Enpgtment= Websiie traffic was not reporred in the previous fiscal year. 50 we have no comparison. For this fiscal year our numbers for the Rare Breeds Centre site have been captured in areas su¢h as active users, page and enzagement time. Thi5 give5 3 strong platform for comparison and improvements 8oin8 forward Page 15
CANTERBURY OAST TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 REFERENCE AND ADMINisfRATIVE OAll$ Re8lstèrtd Company number 01897198 IEn8land and Walesl Re8isterd tharity nurnber 291662 Re8istered office Highlands Farm Woodchurch Kent TN26 3RJ Trustees Kenneth Hesketh Sophy Haievoei Trevor Pearce Jane Abbott Peter Pearson-wood Michaela Tweedley Karen Blackisttsn Michele Allchin Kevin Ergi5 Esmee Russell Fiona Ash Dan Gower-smith Julie Read Chèimian Vice Chair Lead for Care and Quality Lead for Ra Breeds Centre Lead for Estates Lead for Finance Resyd 30"April 2024 Retir 14" OttoT 2023 Resigned 23rd August 2023 Appointed 141h October 2023 Appointed 14, Ortober 2023 Appointed 14" October 2023. Companysecretary Karen 8lackiston Until 26 January 2024 then role di5$0 Chief Exe£utbve Sarah Edwards Seb)kr Mana8efS lan Bolin8broke aaire Wye Michael Hackwell-Read Dan Johnson Katie Patch Director of Estates and Rare Breed5 Centre Resigned 3111 May 2024 Director of People and Culture DFreuor of Finante Diredor of Operations Director tsf Translofmation and Change permanent as Director of Quality and ChanBe from January 2024 Head ofsupporter En£aÉement Lisa Boulton AudltOf5 Xeinadin Audft Ltd 12 Conqueror Ct Sittin8bourne MEIO 58H Bankers National Westminster 8ank PLC 20 H*8h Street Ashford TN24 8SH Page 16
CANTERBURY OASTTRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 TRUSTEES. RESPON$181UTY STATEMENT Slatement olTTU5tets Rwsibilltles The Trustets Iwho are also dirertors of Cènterbury 035t Trust for the purpose of company tawl are responsible for preparing the Trustees, report and the financial statement in accordance Mth applicable law and Unfted Kingdom Accounting Standards (United Kingdorn Generalty Acttpted Accounting PrattKel. Company and charity law requires ihe TTUStees to prepare financial statement5 for each finartcial year, which give a true and fair view of the state of affairs of the charitable company and of the incorning resources and application of sourtes. including the income and expenditure. of the cornpany for that period. In preparing these financial statements. the Trustees are required io.. o select suitable accounting polities and apply them consistentty.. o observe the methods and principles of the charities SORP- o make judgernents and estimates thal are reasonable and prudent.. and o prepare the financial statements on an on-8oin6 concern basis unless it 15 inappropriate to Presu that charitable company will continue in operation. The Trustees are responsible for keepin8 adequate accounting records that disch with reasonable accuracy, at any time. the financial position ot the Comn¥ and enable them to ensu that the ffinantial statements tomply with the Companies Act 2006 las amended). They are also responsible for safe8uardin8 the assets of the company and hence for takin8 reasonable steps for the Prevention and detection of frais and other irre8ularities. The Trustees are responsible for the maintenance and integrity of the torporate financial tnformation included on thi5 charitable company's website. Leeislation in the Unlted Kingdom goveming the preparation and dissemination of the flnancial statements may differfrom legislation in other jurisd10$. Provlsion of informatlon to the auditor So far as each of the Trustees is aware at the time this report is approved there is no relevant zudit inlormation of which the Trust's auditor 15 unaware and the Trustees have taken all aSonable sieps that they ought to have taken to make themselves aware of any relevant audit information and to ensure thai the auditor is aware of that information. AUDITORS The auditors. Xeinadin Audit Ltd, will be pr*)posed for re-appointment at the forthcoming Annual General Meetin8. Report of the irvstees. incorporating a strateeic report. approved by order of the board of trustee5, a5 the cgmpany direttors. on......kQ.Q.9R4........................... and signed on the board'5 beham bv.. K J Heskeih- Chair Page 17
REPORT OF THE INDEPENDENT ALIOITORS TO THE MEMBERS OF CANTER8URY OASTTRUST Opinion We have altdited the financial siatements of Canterbury Oast Trust Ithe 'charitable company'l for the year ended 31 March 2024 which comprise the Statement gf Financial Activities. the Balance Sheet. Ihe Cash Flow Statement and note5 to the financial Statements, including a summary of significant accounting ptslities. The financial reportin8 framework that has been applied in their preparation is applicable law and Unr(ed Kingdom Accountin8 Stand•rds Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial siatements= give a true aftd fair view of the State of the tharitable companws altsirs as at 31 Maich 2024 and of its incoming rèsources and application of resources. includine lis income and expenditvre. for the year then ended.. have been properly prepared in a££ordante with United Kingdorn Generally Accepted Accountin8 Practice; and have been prepared in attordance with the requirements of the Companies Aci 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilities under those standards are further tlescribed in the Auditors, responsibilTtie5 for the audit of the financial staternerbt5 section of our report. We are independent of the tharitable tompany in accordance with the Èthical requirements rhat are relevani to our audit of the financial Statements in the UK. in¢ludin8 the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidente we have obtained is sufficient and appropriate to pr¢)vide a basis for our opinion. Concluslons relatlnKtg 8oln8 <on¢•m In auditin8 the financial siatements. we have concluded that the trustee5' use of the going concern basis of accounting in ihe preparation of the financial statements 15 appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individualty or collertivtly. may cast signrficant doubt on the charitable company's ability to continue as a eoing concein for a period of at least twelve rnonths from when ihe financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Inf0msOn The trustees are responsible for the other inf0mtI0Th. The other information comprises the information included in the Annual Report. other than the financial siatements and our Report of the Independent Auditor5 thereon. Our opinion on the financial statements does noi cover the olher information and. except to the extent otherwise ex1clI1Y stated in our report, we do not express anyforni of assurance condusion theieon. In connection with our audit of the financial statements. our responsibility is to read the other infomiation and. in doing so. tonsider whether the other infomiation is materially inconsisteni with the finantial statements or tsur knowledge obtained in the audit or otherwise appeats io be maierially misstated. If we identify suth material in£onsi5tencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial staternents themselves. If. b35ed on the work we have performed, we conclude that thefe 15 a material misstatement of thts other information. we are required to repon that fact. We have nothing to reptsrt in thi5 regard. Oplnlons on other matters prescribed by the C¢xnpanres Art 2006 In our opinion. based on the work undertaken in the course of the audit.. the inforrnation given in the Report of the Tnjstees for the financial year for which the financial statements are prepared is consistent with the financial statements.. and the Report of the Trustee5 has been prepared in accordan with applicable legal requirernents. Page 18
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CANTERBURY OAST TRUST Matters on whi¢h we are iequlred to report by exception In the light of the knowledge and understanding of ihe charitable company and its environment obtained in the course of the audit, we have not identified rnaterial mis5taternents in the Report of the Trusiees. We have nothing to report in respect of the following matters where the Companies Act 216 requires us to report to vou if. in our optnion.. adequate accounting record5 have not bttn kept or returns adequate lor our audit have ngt been received from branches not visited by vs" or the financial statements are not in agreement wth the accounting recoid5 and retum5.' or certain di5c105ures of trustees. remuneration specified by law are not made. or we have not received all the information and explanation5 we require for our audit. Responslbllltles of tnjstees As explained more fully in the Tru5tee5' Responsibilities Statement. the trustees (who are also the dirertors of the charitable company for ihe purposes of company lawl are responsible for the preparation of the financial statement5 and for beirb8 satisfied that they 8ive a true and fair vw. and for such internal control as the trL15tee5 determine 15 necessary to enable the preparation of financial statements thai are free from material misstaiement. whether due to fraud or error. In preparing the financial statements, the trusiees are responsible for assessing the charitable company's ability to continue as a goin8 concern. disclosin& as appli¢able, matters lated to going concern and using the going concern basis of accountin8 unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Pa8e 19
REPORTOF THE INDEPENDENT AUDITORSTOTHE MEMBERSOF CA[ERuRy OA5T TRUST Our responsibilities for the audit of the finandal statemethts Our objectives are to obtain reasonable assurance about whether the financtal statements as a whole are free from rnaterial mi5Staternent. whether due to fraud or error, and to issue a Report of the Independent Avditors ihat includes our opinion. Reasonable assurance is a hi8h level of a55urance. but is not a guarantee that an audit conducted in accofdance with ISAS IUKI will always detect a material misstatement when rt exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they tould feasonabty be eKperted to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are caPae of detertine irre8ularities, includin8 fraud is detailed below.. Our objecrives in performing the audit are to identify and asses the risk of material rni5Statement in the financial statements due io ffaud or error and to obtain sufficient audit evJerKe to support this. We 3150 evaluate and respond to the risk of material mi55tatements. Audit procedures perfom)ed by the engagement team included.. Understanding the entity's current activities, assets and liabilities and comparing these to the entity's charitable objectrves and aims. Discussing with manaeemeni as to any known or suspedtd instantes of non-ttrnpliantÈ with laws and regulations. including Iraud. Gaining an understanding of the legal and regulatory framework applicable to the charity and how the charity is complyin8 Vrith thèr framework. Evaluatln8 the susceptibility of the entity's finanaal StatentS to material mi55tstemenL including how fraud might otcuv. Confirrnations frgm management and those charged with Ro¥ernance as regards felated parties. Obtaining an understanding of iniernal control relevant to the avdit in ortler to design audit pr¢xeilure5 Ihat are appropriate in the tircumstantes. but not for the purptsse of expressing an opinion on the elffectiveness of the company'5 internal control. AsstS5ing the appropriateness of accounttng policies used and the reasonableness of accountin8 estimates, whilst challenging assumptions made by those char8ed with 8overnance in the course of accountin8 estimates. Ideniifyinz and testing manual Irnal entries. Reading minutes of meeting5 of those charged with governance and reviewing any correspondence with reeulatory bodies. Evaluating the overall presentation, strtUre and content of the financial siatements. including the disclosures. and whethef the financial 5tatement5 represent the undedyiry tran53ction5 and event5 in a manner that achieves fair piesentstion. A further description of our responsibilities for the audit of the financial atements is locaied on the Financial Reporting Council's website ai www.frc.Or&uVaudtrsreSpoNSlb1lltte$. Thts destriptitsn forms part of our Report of the Independent Auditors. Paee 20
REPORT OF THE INDEPENDENT AUDITORS TO TAE MEMBEAS OF CANTERBURY OAST TRUST Use ofour rewt This ieport is made solely to the charitable company's members. 35 a body. in actordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable cornpany's members those matters we are required to State to them in an auditors. feport and for no other purpose. To the lullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our avdrt work. for thi5 report. or for the opinions we have formed. Nicholas Hume FCA (Senior Statu for and on behalf of Xe Audit Ltd 12 Conqueror SittinBb rne Kent ME1058H Date.. Pa8e 21
CANTERBURY OAST TRUST STATEMENT OF FINANCIAL ACTIVITIES for the Vear Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unre5tricied fvnds Re5trirted fvnds Notes INCOME AND ENDOWMEp¥f5 FROM Donations and legacie5 582.887 101.591 684.478 384,805 Chwitable activities Care and life skills Social enterprise groups 5.537.419 1.389.852 5.537.419 1.389.852 4.9.645 1,271,364 Investment income Other income 13.412 15.347 13.412 15.347 4.300 39.622 Total 7.538.917 101.591 7.640,508 6.609.736 EXPENDITURE ON Raising funds 34.SY)8 71.908 Charitsble artbvitres Care and life skills Social enterprise groups 6.421,683 1.703.150 164.664 22.025 6,586,347 1.725.175 6,369.872 1.732,293 Other 1.154 1.154 8,763 Total .160.895 186.689 8.347.584 8.182.836 Net 8ainslllossesl on investments 174.780 174,780 112.2271 NET INCOMEIIEXPENDITUREI Translers between ful5 1447.1981 137.4181 185.0981 37.418 1532.2961 11.585.3271 18 Net rng¥enRnt In fvnds 1484,6161 147.6801 1532,2961 11,585,327) RECONCILIATION OF FU14DS Total funds brought forward 6.804.390 1,468.057 .272.447 9.857.774 TOTAL FLNDS CARRIED FORWARD 6.319.774 1.420.377 7.740.ISI 8.272.447 The notes form part of these financial statements Page 22
CANTERBURYOAST TRUST 8ALANCE SHEET 31 March 2024 31.3.24 Total fvnds 31.3.23 Total funds Vnrestricied funds Restricted fvnds Notts FIXED ASSErs Tangible assets Investments li 12 3.970.176 1.615.766 I,IS9,873 5,130,049 1,615,766 5.270,578 1.441,986 5.585,942 1.159.873 6,745,815 6.712.564 cURRElA$sETS Stocks Debtors Cash at bank and in hand 13 14 76.860 444.756 1.180.835 76.860 444.756 1.441.338 68.805 377.268 2,350,792 260.503 1.702.451 260.503 1.962,954 2.796.865 CREDITOPS Amounts falling due wf(hin oneyear 15 1968,6181 1968.6181 11,080,071) NET CURRENT ASSETS 733.833 260,503 994.336 1.716.794 TOTALASSETS LESS CURRENT LIA8ILlnES 6.319.775 1.420,376 7.740,151 8.429.358 CREDITORS Amounts falling due after more than one year 16 1156.9111 ASSETS 6.319.775 1.420.376 7.740.151 8,272,447 FUNDS Llnrestricted funds Restricted funds 18 6,319.775 1.420.376 6.804.390 1.468,057 TOTAL FUNDS 7.740.151 8.272.447 The financial ststements were approved by the Board of Trustees and authorised for issue on 20.09.2024 - and were signed on its behalf by= K J Hesketh- Chair The note5 form part of these financial statements Pa8È 23
CANTERBURY OAST TRUST CASH FLOW STATEMENT for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows ffoffl operatin¢ arti¥ities Cash 8enerated from operations Interest paid 1634.7311 11.IS41 11,044.6751 IB.7631 Net Cash used in operatin8 attivities 1635,8851 1.053,4381 Cash flows fr+)m investlnl a¢thlti Purchase of ian8ible fixed a55els Sale of iangible fixed assets Repayment of loans from subsidiary Interest received 1198,4161 103,298 11.314,4821 23,618 13.412 4.3CL) Net cash used In investing activities 180.7C61 11.285.564) Cash flows from flan¢1 artivities Loan repayments in year 1192.8631 130.2081 Net ea5h used in financine activities 1192,8631 130,2081 Chany In cash and cash eguivatnts in the reportlnl perrod Cash and tash equidlents at the bewnning Of the reporting pefi¢>d 15x19.4541 12.369,2101 2,350.792 4.720.002 Cash and ¢ash egulvalents at the end ot the reporting priod 1.441.338 2.350.792 The notes form part ofthese financial staternents Pa8e 24
CANTERBUAY OAsfTRUST NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2024 RECONaLIATION OF NEf EXPENDrniRE TO NETCASH FIOW FROM OPERATING ACTNITIES 31.3.241 31.3.23 Net expenditure for the report# period las perthe Statement of Financial Artlvitiesl Adlustmènts for: Depreciation charges (Gainlllosses on investments Profit on disposal of fued a5SÈts Interest received Intefest paiij Increase in stocks lIncaSe1/de(rea$e in debtors IDecreasellincrease in crediiors 1532.2961 11,585,3271 237,669 1174.7801 15.8911 113,4121 1.154 18.OS51 163.6191 175.5011 253.178 12.227 119.2531 14.3001 8.763 15.0261 12,195 282.868 Net ush used Sn operatlon5 1634.7311 11.044,6751 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash fl¢)w Al 31.3.24 Net ush Cash ai bank and in hand 2,350.792 1909,4541 1.441.338 2,350.792 I19.454) 1.441.338 Debt Debts falling due within l year Debts fallin8 due after l year 135,9521 1156.9111 3S,952 156.911 1192.8631 192.863 Total 2.157.929 1716,5911 1,441,338 The notes form part of these financial statements PzBe 25
CANTER8URY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024 ACCOUNTING POUCIES Basis of Prepari the fThrKial statemerrts The financial staiements of the tharitable company. which is a public beneffit entity under FR5 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to chariiies preparing their accounts in accordance with the Financial Reportin8 Standard appli¢able in the UK and Republic of Ireland IFRS 1021 leffertNe l January 20191.. Financial Reporting Standard 102 The Financial Reportin8 Standard applicable in the UK and Aepublic of Ireland. and the Companies Ad 21JK. The financial statements have been prepared under the historical cost convention. with the exception of investments whith are induded at markei value. as modified by the revaluation of certain assets. Charity information Canterbury Oast Trust is a private company limited by 8U3rantte intorporated in England and Wale5. The registered office is Highlands Farm. Woodthurth. Ashford. Ken( TN26 3W. In the event of the charity bel wound vp. the liability in respect of the 8uafantee is limi to £1 per voting member of the Twst. The Trusi's objertives and airns are disc105ed in theTru5tees' and Strate8ic Report. The Trust constitute5 a public benefrt entity as defined by FRSIO2. The financial ststements a prepared in Stedin& which is the fvnctional currenry of the charity. Monetary amounts in these finantial statements are rounded to the nearest £1. Preparatron n$Ild?1ed financi•l statements The Trust is exempi from the tequirements to prepzre group accounts by virtue of section 402 of the Companies Art 2006. These financial statements therefore present inforrnation about the company as an ndividual undertaking and not about its gfOUP. Charities SORP allows a subsidiary to be excluded from con501idation if its resul are maierial to the 8roup. In the opin of the Trustees. the tumover and net assets of COT Tradine Umited are not material in the tontext of thtst atcounts and therefore consolidated accounts have not been prepared, details of thi5 subsidiary are given in note 13. Critical acc<Mnting judgements and key50urces of esthn•tlon UncerOnty In the application of the charity's accounting policies. the Truslee5 are required to make judgements. estimate5 and assumptions about the carrying amount of a55ets and liabilities that are not readily apparent from other sources. The e5timales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undedyine assumptths are reviewed on an oreoing basis. Revisions to accountin8 estimates are recogni5ed in the period in which the estimaie is revised where the revision affe$ only that period. or in the period of the revision and fvture per Whe the revisKJn afferts both current and future periods. Consolldatlon The Trustee5 consider the results of the subsidiary to be immaterial to the 8roup and as suth they ha not prepared consolidated accounts. locatlon of support cosos Support costs are allocated betrA*een charitable acti¥iiies and 8ovemance costs Icentral administrationl based on actual or estimated time employed by staff in these funrtions. Page 26 continued...
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES. wntinutd In¢om¢ Income is recognised when the charity ha5 entitlement to the funds. after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Legacies are recognised on receipt or otherwse if the thartty has been noiifieij of an impendin8 distribution, the arnount is known. and receipt is expeded. If the arnount is not known. the legaty Is treated as a contingent asset Income receNed in respert of annual membership to the Rare Breed5 Centre is reto6nised over the period of the mernbership. Intome tay recoverable in relation to investments Inco 15 recognised at the time the investment income is receivable. Interest income is reco8niwd when it 15 probable that the economic benefits will flow to the company and the amount of revenue tan be measureil reliabEy. Interest income is accrued on 3 time basi5. by reference to th principal outstanding and the effertive inteiest rate applicable. Expendire All expenditu is accounted for on an accrus basis and has been indudtd undtr expense eategofies ihat a8gregate all costs for allocation to adivtties. Where tosts tannot be direuly attributed to particular activities they have been alkated on a ba51s consistent wrth th use ol the resources. Support t05ts Compiise in the main ntral staff costs. these are allocated between charitable activities and governance cost5 (central administration) based on aè1 or estimaied time employed by staff in these functions. Governance costs are those Incurred in conrectK)n administration of the charity and compliance wilh constitutional and statytory requi1effnts. Taniible rimed assets All assets costin8 more than £2,OCrfJ are c3pitali5ed. Tangible fixed a5set5 are Initial fflea5ured at C05t arTrd subsequently measured ai cosL net of depreciation and any impairment losse5. Depreciation is recognised so as io wfite.off the CO of assets less their residual values over their useful live5 on the following bases.. Freehold land and bvildings Fixiures and fittings Motor Vehides 2- 15 % straight line IS- 25% straight line 25% straight line The gain or loss arisin8 on the disp9541 of an asset 15 detsrmined as the difference between the sale proceeds and the tèrtyne value of the asset. and is recognised in incomellejtpenditurel for the year. Stocks Stocks and work in progre55 are valued èt the lower of cost and Aet realisable valve after making due allowance for obsolete and slow-moving stocks. C05t includes all direct costs and an appropriate proportion of fixed and variable overheads. Paee 27 continued...
CANTERBURY QASTTRUST NOTES TO THE FINANCIAL STATEMENTS- tontinutd for ihe Year Ended 31 March 2024 ACCOUNTrNG pouaES. tontlnued Taxatho The Company 15 3 registered charity and as such it5 income and gains falling wtthin Sections 371 to 489 of the Corporation Tax Act 2010 or Section 256 of ihe Taxation of Char8eable Gains Act 1992 are exempt from corporation tax to the ertent thai ihey are applied to its charitable objectives. Fund auountlng Unrestriued funds are available for use at the discretion of the Trustees in furtherante of their tharitable objedives unless the fvnds have been dey8nated for other purp05es. Desi8nated funds comprise unrestricted funds that have been Set aside by the Tnjstees for partKular purposes. The aim and use of each desi8nated fvnd is out in the notes to the financial statements. Restricted funds are subject to speufic conditions by donors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes to the finanaal statements. Investmtnt intomt. gains and losses are allooted to the appropriate fund. PeTh51on costs and other post-retlrement beneffts The chafiiable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are char8ed to the Statement of Financial Artivities in the period to which they relate. Diflerence5 between contributions payab in the year and coniributions attualty paid are shown as either accruals or prepayments. For delined contribution schemes the amount charged to net income or expenditure is the contributions payable in the year. Differences between contribution5 payable in the year and contributions actually paid are shgwn as either accruals or prepayments. Goln$ con¢em The Trustees have ttsnsidered whether it is appropriate to prepare the financial statements on the basis that the charity Tr5 a going toncern. Thè Trusttes have reViev4 the forecasts for the charity, and in particular tonsidered its anticipated income Iwith secure contracts in place for charrtablt attivities with the Local Authorityl and expenditure commrtments for a period of tWee months from the date of approval of these rinancial statements. With reeafd to ihe charity. the Trustees have reviewed the financial projections. budgets and cash position for the period and are satisfied thai the charity has adequate finances lincludtn8 fOra$1 cash and investments thrgughoul the period) and reserve5 to maintain its ability to operate successfullv without addrtional funding. Given thi5. the Trustees have a 3nable expertation that the charity has adequate resourcÈ5 to continue in operational existence for the foreseeable future. being not less than 12 months Irom the date of si8ninB these rinancial statements. Thus. they coniinue to adopt the going concern basi5 of accounting in preparing the annual finantial statements. Page 28 continued...
CANTER8URY OAST TAU5T NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 DONAnoNs AND LEGAaES 31.3.24 31.3.23 Gifts Legacies Grants Oonated services and facilities Corporate Donors 410.956 266.966 272.033 75.to 19.850 12,146 5,776 5.556 684.478 384.805 Grants received, included in the above. are a5 follow5.. 31.3.24 31.3.23 Other grants 19.850 114VE5TMENf INCOME 31.3.24 31.3.23 Deposit accovnt interest 13.412 4.300 INCOME FROM CHARITABLE AcfiviTIES 31.3.24 31.3.23 Care and Sotial enterprise groups Total activities Total activities sknlls Intorne by Chariiable ActNity 5.537.419 1.389.8S2 6.927.271 s.181.9 Social enterprise groups comprise the Rare Breeds Centre farm. restaurant and marketina sectors. Paee 29 continued...
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS- cwtinued for the Year Ended 31 March 2024 RAISING FUNDS Ralsing donations and Itgatits 31.3.24 31.3.23 Staff costs Advert15ing Computer costs 27.235 4.125 3,548 53.919 6.8S9 11.130 34.SY18 71.908 CHARITABLE AcfivmES COST5 Support costs Isee note 71 Dirett Costs Totals Care and lrfe skills Social enterprise groups 5.306.479 1.433.120 1,279,868 292.055 6,586,347 1,72S,175 6.739.599 1,571.923 8.311,522 SUPPORT COSTS Governante Sts Totals Care and life skills Social enterprise groups 1.213.546 277.345 66,322 14.710 1,279,868 292,055 1.490.891 81,032 1.571,923 NET INCOMEIIEKPENDITURE) Net incomellexpendiiurel is staled after tha181{CredItin8}= 31.3.24 31.3.23 Depreciation- owned assets Surplus on disposal of fixed assets Government Grants Auditor Remuneration Fees payable io the company's auditor for non-audf( servbces 309.703 15,8911 253.178 119,2531 120.3891 23.5C 10.550 23.OCKI Page 30 continued...
CANTERBURY OASTTRUST NOTES TO THE FINANCIAL STATEMENTS- Continued for the Year Ended 31 March 2024 TRUSTEES. REMuf4EIIATIOII AND 8ENEFirs None of the Trustees recieved any remuneration or benefits from the charity during the year12023,. nill. Trustees. expenses During the year. tee expenses were reimbursed to the amount of £10412023,. £611 which relate5 to admin fees and travel. io. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Other pens1011 Costs 5.887,376 Ic,479 5.727,410 90,077 5,987,855 5,817,487 The average monthty number of eM0vee5 during the year was as follow5-. 31.3.24 142 18 55 31.3.23 136 16 52 Support and fesideni serwces Administration Commercial. marketing and appeals 215 The number of employees whose employee beneffts lexcludin8 employer pension cost51 exceeded £60.000 was= 31.3.24 31.3.23 £60.001- E70,CrfJO £90.001- £IOO.OC(I In previous period5. the Trust considered the Board of Trustees and the Chief Executive as their key managemeni personnel. However. during the year. a review of the decision makin8 process was done in line with the dèlinition of key rnanagement personnel in FRS 102, and as Such, the Trust ha5 adjusted their defSnition of the key management personnel. The Trust now considers the tollowing to be their key manaqement perx)nnel.- the Board of Trustees. the Chief Executive, the Director of Estates. the Director of People and Culture. the Oirector of Finance, the Oirertor of Operations. the Direttor of Transformation and Change. The total employment benefits including emplwr pènsion and national insurance contributions of the key management personnel was £401.63212023- £485.2701. The charity operates a defined contribution pension scheme for all qualifrying employees in the United Kin6dom. The assets of the Scheme are held separatety from those of the charity in an independentlv administered fund. The coniributions payable by the charity and charged to the statement of intome and Page 31 continued..
CANTERBURY OASTTRUST NOTES TO THE FINANCIAL STATEMENTS-"continued for the Year Ended 31 March 2024 ii. TANGlbiE FIXEDASSETS lrnpio¥ements to property Fixiures and ffttines Freehd property Motor vehlcles Totals COST At l April 2023 Additions Disp05als 6.566.601 10.211 1,071,473 79.256 131,1481 336.598 78,415 172.1501 7.974.672 198,416 1103.2981 30.$34 At 31 March 2024 6.576.812 30.534 1.119.581 342,863 8,069.79) DEPRECIATION Al l April 2023 Char8e for year Eliminated on disposal IA58.350 138.332 623.917 119.520 131.1481 221.827 51.851 142.9081 2,704.094 309.703 174.0561 At 31 March 2024 1,996,682 712.289 230.770 2.939.741 NET 8OOK VALUE At 31 March 2024 4.580.130 30.534 407.292 112.093 5,130,049 At 31 March 2023 4,708,251 447.556 114.771 5.270,578 Included in land and buildings is freehold land ar cost of £ICO.fth)12023.. £Ic.0) which is not depreciated. Land and buildings pre-dating 1993 are taffied at the l¢)wer of cost and open Mark value based on a professional valuation obtained on 13 Jul 1993 by Edward Symon5. Chartered Surveyors. 5vbsequent additions art valued at cost. Freehold property primarily consists ol properties from which the Charitable attr¥rties of the trust are undertaken, some of these properties a especialty adapted for providing care service5 or are unusual in nature (Rare 8reeds Centrel and the markel value of these properties is not readily available. The insurance cosi of rebuildin8 all the propertie5 Is estimated at £27.8m 12023.. £26.6ml. In the opinion of the Trustees the market value of the freehold property stated in these accounts is in excess of book value but much les5 than the insurante rebuild cost. FIXED ASSET INVESTMENTS 31.3.24 31.3.23 Shares Loans 1,594,766 21,C 1,419,986 22,CiX) 1,615.766 1,441,986 Page 32 contlnued...
CANTER8URY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 12. FIXEDASSEf INVESTMENTS- c4ntlnued Shares in eroup undertakings Unlisted investments Totals COST LESS IMPAIRMEP4T At l April 2023 Revaluations 1.419.886 174.780 1.419.986 174.780 At 31 March 2024 1.594.666 1.594.766 NET BOOK VALUE At 31 March 2024 1.594.666 1.594.766 At 31 March 2023 Ic 1.419.886 1.419,986 Loan5 to 8roup undertakings At l April 2023 Repaymenis in year 22.tt*) 11,cthi At 31 March 2024 21,0(Kl There were no imTestment assers outside the UK_ Cost orvaluation ai 31 March 2024 is representèd by- Shares in group undertakings Unlisted investments Totals Valuation in 2024 Valuation in 2023 Valuation in 2022 Valuation In 2021 Valuation in 2020 Valuation in 2019 valUatn in 2018 Valuation in 2017 Cost 174.780 112.2271 149.658 2SI,208 13031 106,771 50.145 124.634 7SO.CI 174,780 112,2271 149.658 251.208 13031 106,771 50.145 124.634 750,100 1.594.666 1,594,766 The Charity holds Icb) shares of £1 each in its wholly owned trading Subsidiary company COT Trading Limited which is incorporated in the United Kingdom. The reBisiered office of COT Trading limited 15 Highland5 Farm. Woodchurch. Ashford. Kent. TN26 3RJ. These share5 are the onty shart5 alloted. called up and fvlly paitl. The activities comprise ¥unning the retail 0rationS of the Rare Breed Ctntre. The resuks are not tonsolidated per accountin8 policy l.IS. Page 33 continued...
CANTERBURY OAST TAUST NOTES TO THE FINANCIAL STATEMENTS- u>ntinued for the Year Ended 31 March 2024 13. STOCKS 31.3.24 31.3.23 Stocks 76.860 68,805 14. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 180.168 7.194 191,406 65,988 215.683 24.329 70.922 66,334 444,756 377,268 15. CREOITORS: Amouiifs FALU146 (KIE WITHIN ONE YEAR 31.3.24 31.3.23 8ank loans and o¥erdrafts15et note 171 Trade creditors Social security and other taxes Other creditors Accruals and deferred incomè 35.952 457,272 112.927 45.927 . 427.993 361.002 110,952 51.383 445.281 968.618 1.080.071 2024 2023 Deferred income at l April Income recievtd during defefment Release of incorne during the year 102.052 191,653 1184.4821 94.559 93.863 186.3701 109.222 102.052 Page 34 continued...
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 16. CREDITORS: AMOUNT5 FALUNG DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Bank loans Isee note 171 156.911 17. LOANS An analysis of the maturity of loans isgiven below- 31.3.24 31.3.23 Amgunts falling dve wthin one year on demand= Bank loans 35,952 Amounts falllng due between two and five years- Bank ltsans- 2-5 years 156.911 Page 35 continued...
CANTERBURY OASTTRU5T NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 Marth 2024 MOVEMENT IN FUNDS Net movement in fvnds Transfers between funds At 1.4.23 3J.3.24 UThrestrfrted funds General 6,741,628 62,762 1447.1971 19.396 IS6.8141 6.313.827 5.948 The Rare Breeds Centre delopMent fund 6,804,390 1447.1971 137.4181 6.319.775 Restrlrted fvnds other restrirted funds Woodchurch Poulton Wood Horticultttrre 18.(MJ6 20.8nl 24.630 12.751 46.941 7.462 19,308 14.564 26.730 20.773 47.185 17,811 17,915 1.693 19.046 35,750 30.203 3.242 25,908 2,059 17.254 10.733 21.289 15,762 43,294 12.456 19.871 1,458 14.949 5,573 {9.5091 121.0331 15.4031 12.OS41 13,8311 15.4411 15.0111 13.8911 15.3SS1 1,956 12351 Catering Aldin8ton Rye Friends of COT Salaries My Life Skills Academy Farm Fundraisin8 Craft Room Restricted Fixed Assets 1,171,487 149.0251 2.171 37.418 1.159.880 2,171 New Romney 1.468.057 185,0991 37,418 1,420.376 .TOTAL FUNDS 8.272.447 1532.2961 7,740,151 Page 36 continued...
CANTERBURY OASTTRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Endeil 31 March 2024 MOVEMEiif IN FUNDS- ntinUed Net movement in funds, included in the above are as flOw$. Incomin8 resources Resources expended Gains and losses Movement in fund5 Unrestrkned funds General 7.$38,917 18.160,8941 174,780 1447.1971 Rèsoritted funds Other restricted funds Wgodchurch Poulton Wood Horticulture 1.701 25.545 21.044 1.274 8.316 16611 110.5961 115,4711 110.7831 129.3491 IS.41031 13.0731 13.7191 113.5541 16.0111 {11.0151 {22,0251 13.6CQI 15901 1.040 14.949 5,573 19,5091 121.0331 15.4031 12.0541 13.8311 15,4411 15.0111 13.8911 15.3551 1.956 123SI Catering Aldington 1.019 11121 8.113 Friends of COT Salaries My Life Skills A¢adèmy Farm Fundraising Craft Room Restricred Fixed Assets 7.124 16.670 5,556 355 149.0251 11.8151 149.0251 2.171 New Romney 3.986 101.591 1186.6901 185,0991 TOTALFUNDS 7,640,508 18,347,5841 174.780 1532,2961 Page 37 continued...
CANTERBURY OASTTRUST NOTESTO ThE FINANCIAL STATEMENTS-continued fof the Year Ended 31 March 2024 18. MOVEMENT IN FUNDS- continued Compar•tives for mo¥tmtnt In lunds Net movement in fvnds Transfers bettveen funds At 31.3.23 At 1.4.22 Unrestritted funds General 8.244.592 97,752 11.537.954) 34.990 134,9901 6,741,628 62.762 The Rare 8reed5 Centre development fund .342.344 11.537.954) 6,804,390 Restricted funds Other restricted lund5 Woodchurch Poulton Wood Htsrtitulture 18.981 60.708 14.802 10.721 46.784 19751 129,5871 18.384 2.030 157 1,618 1.758 214 11.2251 1381 4.532 10.038 1.451 13051 18.C*)6 20,801 24,630 12,751 46.941 7.462 19,308 14,564 26.730 20.773 47,185 1?,811 17.915 1,693 110,3201 18,5561 Catering Aldington Rye Friends of COT Salaries My Life Skills Academy Farm Fundraising Craft Roorn Restricted Fixed Assets 27.550 14.350 27.955 20,811 42.653 33.273 16.464 1,998 iio,cthJi 125.5CIJI 1.172.536 155.4251 S4.376 1,171,487 L515.430 147.3731 1,468,057 TOTAL FUNDS 9.857.774 11.585.327) .272.447 Page 38 tontinued...
rANTER8URY OASTTRUST NOTES TO THE FINANCIAL STATEmE- continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS-continued Comparative net movement in funds. included in the above are as follows- Incoming resources Resources expended Gains znd 105se5 Movement in funds Unr•strlrted funds General 6,534.980 18.060.707) 112.2271 11,537,9S41 Rèstrlrted funds Other restricted funds Woodchurch Poulton Wood Horticulture Life Skills Catering Aldington Rye Friends of COT Salaries My Lifè Skills Academy Farrn Fundraisin8 Craft Room Resvicted Fixed Assets 3.450 2.¢X13 12,386 3.115 2.730 14.147 3.407 1.663 4,959 8.846 6.340 8.659 3.051 14.4251 131.S901 5,998 11,0851 12.5731 {12.5291 11,6491 11,4491 16,1841 18.8841 11.8081 . 1.379 li.6) 13051 19751 129.5871 18,384 2,030 157 1.618 1,758 214 11,2251 1381 4.532 10.038 1.451 13051 155.4251 155.4251 74.756 122.1291 147.3731 TOTAL FVNOS 6.609.736 18.182.836) 112.2271 11.585.327) Page 39 continued...
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS- cwtinued for the Year Ended 31 March 2024 18. MOVEMENT 114 FUNDS- ¢•ntlnued A current year 12 months and prior year 12 mnths combined posttion 15 as follows: Net movemtnt in fvnd5 Transfers between fund5 At 31.3.24 At 1.4.22 Unrestrlrted fvnds General 8.244.592 97,752 {1,985,1511 54,386 191.8041 6,313.827 5,948 The Rare Breeds Centrè development fund 8.342.344 11,9B5.1511 137.4181 6.319.775 ftesirlrted funds Other restrided funds Woodchurch Poulton Wood Horticulture Life Skills Caterin8 Aldington Rye Friends of COT Salaries My Life Skills Academy Farm Fundraising Craft Room Restricted Fixed Assets .981 60.708 14.802 10.721 46.784 65 114.6381 23.9S7 17.4791 120,8761 13.7851 12961 13.6171 16,6661 15,0491 641 4.683 3.407 19,046 35,750 30.203 3.242 25.908 2,059 17.254 10.733 21.289 15.762 43,294 12,456 19.871 1.4S8 110.3201 18.5561 27.550 14,350 27,955 20.811 42.653 33.273 16.464 L998 li0.() 125.5cKII 1,172.S36 1104.4501 2.171 91.794 1,159,880 2.171 New Romney 1.515.430 1132.4721 37.418 1.420.376 TOTAL FUNDS 9A57.774 12.117.6231 7,740.151 Page 40 tontinued...
CANTERBURY OASTTRUST NOTES TO THE FINANCIAL STATEMENTS. continued for the Year Ended 31 March 2024 MOVEMENT IN FUP4DS- ntInUed A curnent year 12 months prJr year 12 months combined net movement in funds. included in the above are 35 follows.. Intoming resour Re50urce5 expended Gains and 19$5e5 Movement in funds Unrestricted funds General 14.073.897 116.221.6011 162.553 11.985,1511 Restricted fund5 Other reslrirted fvnds Woodchurch PoultCn Wood Horticulture fe Skills Catering Aldington Rye Friends of COT Salaries My Life Ski115 Academy Farm Fundraisin8 Craft Room Restrirted Fixed Assets 5,151 27.548 33.430 4.389 11,046 14,147 4.426 1.551 13.072 9.846 13.464 25,329 8.607 355 15.0861 {42,1861 19.4731 {11.8681 131,9221 {17.9321 14.7221 15,1681 119.7381 114.8951 112.8231 120.6461 15.2CIJI 18951 65 114.6381 23.957 17,4791 120,8761 13.7851 12961 13.6171 16,6661 15,0491 641 4,683 3.407 15401 IJ04.4501 11.8151 1104,4501 2,171 New Romney 176.347 {308.8191 1132.4721 TOTAL FVNDS 14.250.244 116.530.4201 162.553 12.117.623) 19. REiATED DISCLOSURES The Trust is exempt from the requirements to prepare group accounts by virtue of sertion 402 of the Companies Act 2(*)6. ThÈsÈ financial staternents therefore ent infomatitin about the company as an individual undertakin8 and not about its group. Charitie5 SORP allows 3 subsidiary to be excluded f¥om consolidation if its results are not material tts the group. In the opinion of the Trustees the turnover and net assets of COT Trading Limitèd are not material in the context of these accounts and therefore consolidated aetounts have not been prepared. In the year. mock inspection services vrith a value of £7,89512023..£nill were invoiced to Canterbury Oast Trust by Tara Health Ltd, a company over which è related party arted as a senitir consultant. No amounts were outstanding at 31 March 2024. In the year. software purchas with a value of £22.988 12023.. £11.5611 were invoiced to Canteibvry Oast Trust by Intelli8ent Care Software Ltd. a company in which a rdated party is a member of Key Management Personnel. No amounts were outstanding at 31 March 2024. Pa8e 41
CANTEABUAY OASTTRU57 DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 Marth 2024 31.3.24 31.3.23 INCOME AND EfrIDOWMENTS Donatlons and lepctés Gifts Legacies Grants Donated services and facilitie5 Corporate Donors 410.956 266.966 272.033 75.c0 19,850 12.146 5.776 5.556 684.478 384.805 In¥estr))em Income Deposit account interest 13,412 4,300 Charit•ble artbvibes Income by Charitable Activity 6,927.271 6.181.(9 Other Income Gain on sale of tangible fixed assets Government grants received 5.891 9.456 19,2S3 20,369 15.347 39,622 Total Incomln¢ resources 7,640,508 6,609.736 EXPENDIWAE Ralslni donatlons and le¢xies Wages Pensions Advertising Compuier costs 26.675 560 4.12S 3,548. 52,849 1.070 6.859 11.130 71.908 Charitable artt¥Stles Wage5 Pensions Purchases Utility and telephone tosts Vehicle costs Insurance Repaiis and maintenance Trainin8 Carried forward 4.916.176 83.048 727.720 272.866 73.807 129.652 439.961 4.795,526 74.089 485,485 258.219 84,413 116.499 608,371 11.369 6,433,971 6,643.230 This paee does not form part of the statutory financial statements Page 42
CANTERBURY OASTTRU5T DETAILED STATEMENT OF FINANCIALAcnvmES for the Year Ended 31 March 2024 31.3.24 31.3.23 Charttable artivttles Brought forward Bank charges Advert15ing Miscellaneous Postage and Stationer 6.643.230 44.473 21,180 19,626 11.090 6.433.971 47.530 32,436 30,057 13.450 6,739,599 6,557,444 Other Bank interest 1.154 8,763 Support Other Wages Pensions Purchases Insurance Vehicle Costs Utilities and Telephone Ptsstagè and stationery Repairs and maintenance Depreciation Other Costs Professional Bank charges Trainin8 Mistellaneous 878.408 15,690 817,S03 13,874 4,318 11.736 10.796 66.094 18,422 168,234 218,102 10.548 10.820 31.979 17.183 70.510 284,829 101,700 95.022 5.552 14.429 25.685 5.365 26.245 31.730 1.490.891 1.469.767 Governano Costs Wage5 Pensions Utilities and Telephone Postage and stationery Professronal Bank charges Training 66,117 I.IBI 2.407 1.293 7.655 404 1.975 61,532 2.335 1,387 7.152 418 1,086 81.032 74.954 Total resources expended 8.347.584 8,182.836 Net eXperllure belore tans and losses 1707.0761 11.573.100) This pa8e does form part of the sraiutory financial statements Pa8e 43
CANTER8URY OASTTrUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024 31.3.24 31.3.23 Realised rèco8nis*d 8ains and losses Reali5ed gainslllossesl on fixed asset nvestments 174.780 112.2271 Net expenditule 1532,2961 11,585,327) This page does not form part of the statutory financial statements Page 44