Ferring Country Centre Limited Limited by Guarantee Trustees Report and Financial Statements for the year ended 31" December 2023 Registered Charity Number 297286 Registered Company Number 2086358 '&sr 198Q)' FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INDEX P•go Ch¥rity Inforniation Report of thè Trustees Indopendent AuditoV5 Report 13 statsm•nt of Financial Activities 16 Balancè Sheot 17 Stat•m•nt of Cash Flows 18 Accounflng Pollcl8S 19 Notes to the Flnanclal Statements 22 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 CHARITY INFORMATION Patron Georgina, Duchess of Norfolk Trustaos Robert Rogors Linda Clark Jane Cole Ann BoughtorpLeigh Arine Cook Peter Livemian Debbiè Medlock David Smith Ichairmanl ITreasurerl (Deputy Chairl (Joined June 20231 Raglstored and Principal Offic• Rife Way Ferring Worthing West Sussex BN12 5JZ Raglstsred Charity Numbèr 297286 Registsrnd Company Mumber 2086358 Key Managemènt Pèrsonnol Chief Executive Officer Chief Operating Officer Chief Finance Officer Chief Financg Officer Head of Support Head of Opèralitsns Head of Facilities H8nnah Tombs Samantha Maddocks Nicola King (Resigned 26 January 20241 Hazel Sheward (Joinod 61h March 20241 David Payn8 lJoined 24, July 20231 Simon Livesley {Resigned March 20231 Jason Coomber (Resigned 1N MaT¢h 20231 Ind8pandent Auditor3 Blue Spire Limited Cawley PrS0ry South Pallanl Chlchesler Wesl Sussex P019 1SY Bankers National WestrninsleT Bank Pl¢ South Street Worthing West Sussex BN11 3AR Sollcltors Miller Parris 3-9 Cricketers Parade Broadwaler Slreot Wesl Worthing West Sussex BN14 8JB Page 1 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES The Trustees have pleasuTe In presenting their annual report lor Ihe purposes of the Charities Act 2022 the Companies Act 2006, Iogelherwilh tho accounts lor the year ended 31 Decgmber 2023. The Trustees have odopled the provisions of the Slalemenl of Recommended Pr8eticè ISORPI "Accounting and Reporting by Charilias. IFRS 1021, effeclive 1 January 2019, in preparing the annual report and financial slalemenls of Ihe charity. STRUCTURE, GOVERNANCE AND MANAGEMENT Ferring Gounlry Centre Is a charitable company limited by gu8ranl&8, Incorporated on 31 December 1986, and registered as a charity on 29 July 1987.11 is governed by the Memorandum and Articles of Association of the charitable company and is controlled by a Board of Trustees whose mem￿r$ are elected al the Annual General Meellng and are directors for the purposes of company law and Iiuslees lor the PUTposes of charity law. Truste8S Ferring Country Centre has a Board of Trusleos, who all bréng their own knowledge. skills and pa$$ion lo benefit the Charity. Th8 Board elects ils Chair on an annual basis. Ouring 2023 Davld Smith joined our Board of Trusle&s, increasing our Trustees lo eighl. Trustees are recruited as and when a need is idenlified. with an gmphasls on ensuriThJ an appropriate skill set amongst thè membèrship. The rècruilmenl proG85s requires potential Iruslees lo submit their Curriculum Vilae lo tha Chairperson of the Board. A selection process consisting of an informal visit and interview is undertaken and appDintm8nl lo thè Board is confimied by the existing members and ratified 8t the following AGM. All new Twslees undertake a full induction programmeensuring that they are aware of their legal obligations under charity and company law. They receive copies of F6rring CDunlry Cènlre's Memorandum and Articles of Association and the Charily Commission Booklel°CC3 The Essential Trustee" In line with the organisalional Conflict of Interest policy, all TTUStees are requirèd lo compltrlg Iha Confli¢l of Inlpiest, Related Party Transaction and Annual Declaration fom for each year that they a￿ in office. The Board of Truslegs normally meals four limas pèr annum, with meetiros running in line with the 1Snandal quarters. Board mèètings folk>w an agreed agenda with various standing matters, including lull ￿pOrting of rnanagemenl accounts. risk, health and safely. Teview of existing policies and adoption of new policies. Sub-groLJPS of the Board and additional meetings are sel up as and when necessary. The Trustees held an additional meeting during the year in March 2023 to discuss and subsequently agree a new léadèrship slwclure followng the departurès ol IhB Head of Operations and the Head of F8¢11￿]&$. The Head of Operations role was deleted and replaced with 8 Head of Support post. The Head of Finance role was changed lo Chief Finance Offlcer. The Head of C¢)mmercial and Head of FBcililieg posts were both delètéd 8nd rèplacèd with one role, Chief Operating Officer. During 2023 we ¢onllnu¢d lo meel uslng a hybrid meellng fomial, wlh Ihose abte to attend in p8Yson doing so and those not able to do so joining virtually using a Microsoft 385 Teams link. Our AGM was hèld in person in June 2023. 81 which lime amended Articles of Association were adopted. Changes lo the Article3 of Association includèd amendment lo make provision for hybrid meetings and a change our trading activities. In accordance with the Artides of Association. one-third of the Trustees retire al the Annual Gener81 Mealing bul are eligibl8 for re-elecllon. Dedsion maklng Ss undertaken by the Trusleey al 8oard Meetings following briefings and discussions. The Board appoints a team of senior leaders.. day-lo-day leadership and manag8menl of the Gharily is delegated lo the Chief Exèeulivè Officer ICEOI and then through the post holder lo the Leadership Team. Remun8fBlft)n ofKgy P8￿nn81 The Board of Trustees annually reviews the CEO'S salary. Tha CEO, Chairperson and Treasurer review arn other salary rates and present their recornmendalions for the annu81 pay review lo the Board for approval ar￿ 5ubsequenl implemenlalion. Our excellent staffing team is our greatest asset. Our staff deliver high qvalrty s@rvices lo our service users and our cuslomers IhroLJghout the organisalion. We are proud of our slalus as a Living Wage Foundation Employer and wlll onlinue lo maintsin our mernbership for the lorvJ terrn. ensuring Ihal we pay a true Iwing wage lo our team above tho rale sel by the Government. Page 2 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES We review our staff remuneration packages annually to ensure Ih81 we remaln compelilive. Wo have ¢onllnued lo enhance our ernployee benefits, introducing all Employee Assistance Programme during 2023 in addition lo our salary sacrifice pension scheme and death in serwce benefit. The Employee Assistance Programme is provided by Health Assured and offers a ¥ange ofwellbeing support services. Equal Opportunllies Ferfing Country Centre is commilled lo ensuring that all job applicants and employees are Irealed fairly and valued regardless of age, disability, gender linduding transgender and gendèr reassignment), race, ¢olour, nalionalty, ethni¢ or national orwJin, marital status or civil partnership, responsibilily for dependents. sexual orienlalion, pregnancy or malernily. age. Iracle union aclivlty. political or religious, agnostic or alheisl beliefs and {unrel8led lo the postl criminal convictions and are not disadvantaged by unjust conditions or requirements. This principle applies lo recruilmenl, promotion, training, benefits, and facilities. Ferring Country Centre meets its legal obligations and promotes the spirit of equal opportunily in all fiolds. Risks The Truslees and Managemanl of Ferring Country Centre hava given dua Ihought and consliler81ion lo the major rlsks lo which the Charity may be exposed and have systems in place which are designed lo miligale those risks. This includes a risk management matrix and a business continuity plan, both of which are reviewed on a regular basls. Rlsk is an agenda item and discussed al all Trustee meellng¥. The key ilsks during 2023 have conllnued lo be hlgh Infftalion and the cost-of-livlng CTisls. This situation is likely lo continue for the foreseeable future and ￿ace ongoing financial pressure on th6 organisalion. We will continue lo miligale the situation to the best of our ability by controlling costs and developing our fundraising efforts. The West Sussex County Council IWSCCI conltsd renewal 18 also a risk because approximately 50% of our income comes from WSCC conlracled services. Relatsonships with olher organisations ThroughoLJI 2023 wo hovo continued lo build relationships with olhfjr organisalions within both our thal community and the local ￿rnIng disabilities community. These relationships bring opportunities lo our services users alongside the whole Centre. We have continued lo work closely with WSCC, providing Day Services to our servic6 us6rs. Wè have also 8¢lively participated in a variety of engagement events as WSCG has developed its plans for the future of services lo people with leaming disabilities within our CDtJnly. This work will come to fruition in 2024 wilh the release of a lender pr￿8$9 f¢y naw conlracis. On 29th Julywewere delighted lo host the 2023 ApulslcKk Festival. B one4ay musicfesliv81 designed lo be accessible lo people with learning disabilities as well as the wider ¢Dmmunily. We have actively d8ver0￿￿ our relationship8 w)th olhor providers wilhln Ouf locality including Superstar Arts, Guild Care and Worthing Mencap, supporting each other wherever possible. Our relationship with our immediale community of Ferring is important lo us. We suprK)rt local events where possible, and are slrenglhening our rel8llonships with Sl Andrew's Church, the vlllago school, th& Parlsh Councll and the Village Festival Commitlee. We hosl8d 18 ¢orpof8le soclal responslbilily volunleor days throughout th8 year, benefiling from the generosity of a range ol businesses and organisalions giving their lime freely to sUPPOrt our work. OBJECTS AND ACTIVITIES The Charity's objects clause as slated in 115 Articles of Association 15.. "For (he benefit olpersons with learning dkfabil1li￿ by pmviding such persons wilh working la￿7￿11eS in hortKvlturo, agrittulture, crafts, equestrianism and other relaled npallers with lh8 aim of ass￿ting sutth porsons lo 8cquire and develop vocational and SOGial skills.. P8g6 3 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES Our mission is.. °To Gre81epositiV8 futures forGuslom8rs 8nd en&ble Ihem to play a valued role In socl61y.' In delemiining how best lo pursue thes8 objects the Trustees h8ve had Tegard to the Charity Cornmission's guidance on public benefit set out in the public benefit guides PB1. PB2 and PB3, specifically when maklng decisions or reviewing the Charity's aims and oblecllves, and1n developlng plans for future activities and projeGIs. In accordance wlh our oblects, Ferrlng Country Centre b8nelS18 ￿￿PIe with learning disabilities in the Wesl Sussex area. This benefit is mel by our Day Service and Riding Therapy offers. which aro in lum support8d by our Income generatlng and fundraising a¢livilies. Pla¢em8nts w￿h1n our Day Service are mainly mad8 trrough referrals by Wesl Sussex Country Council. We also accomrnodale referrals from neighbouring local aulhorilies and to individuals on a prThiale placement basis. Our overarching aim al Ferring Country Centre Is lo ensure that we empower the people we suprK)rt, our Day SeNc6 Customers {DSCs). lo live the life they want. This is delivered by offering an environment in which our DSCS can thrive, feel valu8d 8nd achievè a sènse of PLJrpos6. Throughout the year we offer a variety of activities and training opportunities. concentrating on the needs of those we support, ensuring that OLJT service provision is fulfllllng and engaging for 811 who attend. We r8r8ly slay still, focus1ng on continual improvement of both our facilllles and seNlces. 11 Is Important that improvements and developments are driven by the aspirations of the people we support. This is achi8v8d by *tlvely ng8ging and li$lening lo our DSCS. In the main this is accomplished through the work of the Ferring Ambassadors, a group ol our DSCS who advocate for their peèrs. ensuring they have an influencing voice. Our service 15 person-cenlred, ensuring each person who accesses our services has in place an indniidual suptK>rt an which contains delaS15 of their needs, wants and wishes, along wÈth ouicDmes they aim to accomplish wth our support. Wg offer a high-quality sorvice. wSlhin an encouragiry and saf8 environmgnl. Our SUPPDrt focuses on indNiduals' skills and how these can be further developed lo achieve aspirations, enabling DSCS to overcoma any ¢hallenges and barriers experienced duTing Iheirjourney. Th8 ongoing success of Ferring Country Centre is reliant on our holistic approach lo the servic95 we offgr. Our core focus remains thè dèlivery Df sérvices to people with leaming disabilities, offered through a variety of aclivilies and programmes across our Centrg. Additionally. we have a secondary purpose, Ihis being lo utilise our resources lo g8nerale fund5, erTrab11￿g us lo ¢onllnua lo dévalop and deliver our charitable purpose. These activities of service delivery 2nd income generation are interwoven throughout the Organisation and therefore need to b8 mulu8lly b8neficl81 and co-exSsl harmonlously. Our organisalion is S￿11 into six key functional area8.' Support Garden Centre Dales FBrm Riding School Rangeff s Café Visitor Centre All of these areas are supported by the adminislralion, maintenance, fundraising and finance functions. Our departments offer a varied range of 8clivétles lo our DSC8'. Garden Contre developing horticultural skills. Dales Farm offeTillg opportuni11gs lo work with a wdo r8nge of anlrnals learning animal husbandry skills. Ridin9 School offering horsemanship skills. Ranger's Café offering hospilalily skills. Vi811or Centre offering customer servi¢9 skills. In addition to the department speeAlic activities listed, the Support Team is respc>nsibl8 for thé dedicated Day Service Cenlre. which is equipped with three classrooms, an IT suile, a 88nsoiy room, a dining room and a commercial kitchen, Page 4 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES in which cakes are produced daily for sale in Ranger's Café. The Support Team is also r&8pon8iblo for the Farm Classroom, based within Dales Fami, and the Woothork Work8hop. Our facililles are used to deliver a varied programma ol developmental and Iherapeulic acliwlies. whlch Include mvsic, sing and sign, yoga. fitness and many more. We continue lo be comrnitted as an organisalion lo provkding a high standard of faciliti￿ lo our DSCS. We also continue to invest in sSte improvements which wll not only expand Ihe range ol activities on offer, bul ensure they are deliveréd in a welcoming environment. Our Riding School offers riding thèrapy sessions, in which both adults and chlldren with leaming andlor physical disabilities have the opportunily to experienc8 horse ridlng. Riding therapy sessions offer both psychological and physical benefits lo rider5. We are open lo the public seven days a week as a Riding School, Dales Farm. Visitor Centre lincluding children's play are88). Ranger's Calé and Garden Cenlrg. Our relationship with the community in whi¢h we èrè based is important lo us. and we enjoy wélcoming Vlsltors lo our Cenlre. Whilst we are open to the public lo share our beautiful slle and excgllènt facilities, il is important lo note that alongside income generation. il also brings wider benafils of social inclusion and inlera¢lion. The social inclusion between those we support, and the wider community is paramount lo the ongoing success of our organisalion. Our DSCS undertake roles whl¢h are valued in a saf6 and supported nvironmenl. Barriers of prejudice are broken down as Incluslon of this type assists people lo have a greater understanding of leorning disabllilles. appreciating Ihe fact that we all unique. Throughout the weekwe are supported by an excel￿nt team of volunteers, each brlnglng their own mix of experience. skills. knowledge and p8ssion to OLJr organisalion. Ourvolunl88rs add a great deal of value lo our Cenlre, 8nd we ar$ sincerely appreciative of their support, lime and dedication. During thè w88k8nds we are pleased lo offer volunteering opportunities to young people between the ages of 12 and 18. This can allow young people lo have their first experience of wotklng alongside animals. including horses. ACHIEVEMENTS AND PERFORMANCE Support Throughout 2023 we have continued to see a continued gr(rth in the demand for OUT services. As the year commènced, we were working with 117 people eaoh week and delivering 336 sesglons each week. As the year oonduded, this had giown lo working with 123 people each week and delivering 352 weekly session5. During the first quarter of Ihe yè8r w& reviewed the overall organi581ional structure. which resulted in the inlroductltsn of four Team L6ad@r roles and three Senior Support Worker roles. Following a robust selection process during quarter two. all posts were filled as we reached the hall year point. The introduction of these roles has been grèatly bènèficial with Team Leaders taking line-m8nagèmenl responsibilities lor Support Workers, alongside the fundamental purpose of being role models for the whole team in the delivery of excellent support. We have taken lime lo review OLJT SUPPL)rt processes and documenlalion in orLler lo ensure that we capluro corracl and relevant information relating lo thosè we support. This, in turn, aids the quality of our service delivery. Working with families and carers, our Family Charter was developed and launched during 2023. This becomes a key document for f8mlll8s and carers of our DSCS, selling out clearly what they can expect Irorn Ferring Counlry Cenlrè and, in return. what Ferring Country C9nlrè axpecls from them. This is included within the DSC induction pack and is also available on our wèbsite. We have conlinuttd lo axpand our Educallon and Enablement Programme. During the year we have worked in partnership with Brighton & Hove Albion in the Community, the official charity of Brighton & Hove Albion Football Club delivering two learning for life courses which Combined maths and football, and culminated wSlh stadium lours for participants. W8 have worked with DSCS lo develop spe¢ific skills which have enabled two of them lo lake on voluntary or paid work. including delivering Makaton sessions al a local nursery. Thè Ferring County Genlre Ambassadors continue lo do a brilliant job in c8pluring fèedback from their peers. They have conllnued lo leBd on key DSC events throughout the year, inGluding the Summer Celebration, H811¢)wÈèn and Chrislmas discos. Additionally, Ihay have supported the team by déliverlng site lours for prospective DSCS and created 'know ma,, a ptece of work designed to aKI the development of reflective practice which was included in our April Pagè 5 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES Support Team Development Day. Our Ambassadors, along with their peèrs, hove contributed significantly to th8 $ele¢lion process of key app￿￿tmentS. including Team Leador5. Senior Support Workers and tho Head of SUp￿rt. We have continued lo deliver a range of activities out in Ihe communily. Our popular weekly Walk and Talk group, Keeping Lancing Lovely beach cleaning group and Cycall Incluswe cycling, have 811 continued. During the summer months we wero ablo lo access lennls courts in Lilllehamplon. delivering weekly tennis 8essM)ns during August which wgre very popular. We were able lo work in partnership with Pier Road Coffee and Art Studio lo exhibit thè excellent picture5 of our photography group in a gallery strlllng. Our photographers enjoyed attending the launch event and Iheirwork remalned on display for a whole month. Our weekly pétanque sessions, lun by dedicated volunteers Margaret and Annette, weré delivered throughout the year, wlh regular competitions being held. During the summer months, (he group was able lo take advantage of our long anlicipaled pétanque terrain, which is located lo the wesl ol the Café building. This Is a vlbranl area, enhanced by the summer house and bench&s. donated in memory ol OLJr friend lan Bant. Breakfast, Dlnner and Film Clubs, all remain popular aclivllies. Dinner and Filrn Club are run monthly. oulsldts of Day S6rvi¢g hours, and prowde the opportunity for our DSCS to ènjoy lime wlh their friends in a less formal and more social environment. Breakfast Club is run monthly within serv￿eS hours. with DSCS ènjoying an opportunity lo maat th frlends at 8uddys Café. which is run by Worthing Mencap. Otjr allotment project entered its second year and was again an immense sucxess, offering a calm sanctuary within our sile and clearly demonstrating the beauty of na14Jre. We produced a bumper crop of pumpkins wh￿h were hatvgsled and sold for Halloween. Our Woodwork Workshop has produced a range of PToducts throughout the year which have beèn sold in our Gift Sh¢Jp - the rustic reindeer have once again provèn tKJpular. The Woodwork Team has also assisted wlh projects around Ihg sile, including seahorses within the pétanque area and Iraclor themed planters on Dales Farm. The FerTing Rangers Football T8am has anjoy8d ils first full year, which has included a number of matches, both al home and away. The formation of the team is a notable example of coproduction, with a group of our DSC Id9nlifying the need for more inclusive loolball teams. and therefore being introduced into our offer. We continue lo support our DSC in achieving their oul(x)m8s. by breaking down goals into attain8blo steps. Outcomes are agreed through the support planninu and review process, and progress is Captured regularly and recorded on tho Slorllcare data management system. Wo have partfjcipaled in a variety ofengagement events and workshops hosted by WSCC during tha yèar, whth have been used in the ongoing coproduction of a new service sp8cificalion forthe upcoming contract ￿neWa1 procurement. Conlra¢t extensions have been given, initially lo the end of Decemb6r 2023 and then lo 30 June 2024. Ent&￿Tr$S Atrlivilies andAnimal Carg Our enterprise activf(ies have overall continued lo perfomi w811 throughout 2023. Th& Garden Centre has had a positive year, showing some growth in sales. During the year we have continued lo develop our house planl offer, which is proving POPLJlar, In May we revived Dur annual plant we&kend, which was a successful event wlh an incredibly pos11ive public response. Th6 Riding School has continued lo thrive in 2023. We have conlinugd to offer a full programme ol riding therapy alongslde our mainstream riding activities. We have strived to piovide a wide varièty Df pony activities, Including rides. grooming sessions and the mor8 slru¢lured Pony Slats programme running In school holldays. The Riding School benefits from a dedicated learn ol volunteers, giving their time each week. Additionally, young volunlegr opportunities are In place each weekend. enabling those between 12 and 18 years of age lo learn horsemanshlp skills whilst assisting the taam. Dales Fami has enjoyed some development dLJring 2023. In thè spring, the farm themed go-kart area was a welcome addillon. Thls is a bright and vibrant attraction. equipped with a selection of tractors and designed to be low maintenance. Avian flu reslriclions have been in pla￿ on and off Ihroughoul the year. which places limilalion on how we exhibit our bird5, Chickèns and ducks. We anlicipale that this is going lo continue for the near future and therefore Pag& 6 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES we are taking restriction rules into account when upgrading our enclosures. This prO￿5S has begun with the du¢k enclosure. with the pond improved during the airtumn and a new avian flu ¢omplianl enclosure to follow in due course. Rangeffs Cafè is a great asset to our Cenlre. Our trade has continued lo grow throughout 2023, includlng our private event offer and a range of events speciflca51y for our DSCS. 2023 has been a positive year for our enlerprlse acllvM68. However, Ihls being said, the exlemal economic environmenl does impact income generation. We continue lo see costs rising and it is not always possible lo rewup these and remain a competitive offer. To miligatg this, wa have tried to make sensible decisions and minimise costs where wssible wthout compromising quality. Sl18 D8v81opment Improvement8 around our sile during 2023 have been minimal. Dales Farni beneff(ed from the add51ion of the fam themed go-kart track, kindly sponsored by GWCA Solicitors. A(klilionally, the duck pond was fully refurbished. making il smaller and more accessible for the team for cleaning. Wè have conlinued lo raise funds for the addition of a Fllness. Dan¢& and Drama Sludlo. The expected cost of this project is £17Qk. of which we have 8e¢ured £56k. As the year drew to a close. we had three further funding bids submilled awaits'ng outcomas. Our planning permission was granted in July 2022 and is valid for three years. Fundrdising 8nd Finance Financially 2023 was once again a significantly Challenglng year. The ongoing impact of tha Cost￿-11vIng crisÈs and high inflation have conlinu8d to b8 felt thToughDul the Organisalion. Fundraislng income has sgen some growth in 2023. mainly influenced by the receipt of￿0 legacies. We continue lo lundraise Ihrou9h the Centre and our webslle. DLJring 2023 wè have made a start on developing our relatM?nal and gr8nl fundraising. In October we welcomed th8 addition of our Fundraising and Markeling Manager. The investment in our facilities over the past live years has resulted in staady income growth. However. the cost of capital investment Ihrtsugh annu81 depreaation Costs adds pressure lo our financial perforrnance. We aim lo make fin8n¢lal dècisions with progmalism, investing and spending where needed and Saving when possible. Our 2023 financial performance has been impacted by high depre¢ialion. increasing salary CDSts and rising supplier cosls, resulllng In endlng th& year in a deficit position. The year has been financially challenging., ￿wever, our overall organisalional financial position remains firm with signifi¢ant r8sèrves and 8 strong balance sheet. Summary 2023 has been a yèar in which Ferring Country Centre has navigated svdnificanl change. DuTing the first quarter, two members of the Senior Leadership Team {Jason Coomb8r - H&ad ol Facilities and Simon Livesley - Head of Operations) moved on lo now pastures. This presented the Organisalion with the opportunity lo review ils stTuclure. gnsuring that il was lil for the future. The outcom8 of this revièw was change, within both the Senior Leadership and wider Leadershlp Team, along with improvements lo the Support Team structure. Our Senior Leadershlp Tèam reduced from five lo four rdes. The roles of Head ol Op8ralions, Head ol Facilities and Hèad of Commercial were all deleted, and replaced by two new roles, Head of Support and Chief Operating Officer. The Head of Support leads on all matters relating lo the SUPPDrl we offer lo people with learning disabilities, Including our Day Service. Our Chief Operating Officer laktss responsibilily for all 8spe¢ls of Health and Safety compliance, along with our enlÈrprisè activit16s. Our wider Leadership Team increased by two roles, firstly, the inlroductlon of a Visitor Centre Manager. taking responsibility for the Glft Shop, Calé and visitor experien￿, and secondly. the introduction c>f a Fundraising and Marketing Manager. The changes wlhin our Support Team IprevioLJsly callad Operations) induded the iniroduction of Team Leaders, who remain in place delivering support lo our DSC'S, and offer first line leadership on the ground lo the whole team. AddS1ionally, they have taken line managemenl responslbilily for allo¢aled team members, allowing for smaller and consistènt tèams. We were delighted lo welcome David Payne into the role of Head of Support in Juty. Our focus romains on developing the services we offer and our sile, making sure that we are r&achlng all those who need our help, whilst ensuring that our sile rèmains suitable and relevant lo those we SUPPDrt. Page 7 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES Forlhe foreseeable future, 8Xtern81 pressures wlll continu8 lo Impact our organisalion. We acknowledge Ihalwe musl r￿1 let these dislract us from our primary purpose of supporting people with leaming disabililigs. This is done through the services w2 provide. in an environment in which everyone matters, is valued and enabled to achiav8 thèir pers(mal goals. We are prWi￿ed lo benefit from 8 le8m of skillèd. experienced 8nd commilled volunteers, working throughout the Centre giving their valuable time freely. We have a deep gralilude to them all lor their contribution and Ihe knowledge and valug they bring lo Ferrino Country Centre. Durlng 2023 we had 93 vtslunleers. As 2023 concluded we were actively working wllh 123 peopl& with ltraming disabilitles, all of whom were accessing our wide range of fulfilling activities both on and away from our sile. The range of activities on offer has continued lo grow both wlhin the Day Service and Ihrough our dèveloping out of hours offer. We remained dedicated lo maintaining a high-qualily Servi￿ delivered through a person-cenlered approach. In order lo support our important work, we continue lo grow and develop our in¢omg-generaling activities. All of this is achievgd through our conscientious and ¢Jiligent team, both volun18ers and employees, led by our skilled and dedicated Leadership Team very ably headed up by our excellent CEO. Hannah Tombs. As an organisation, we beligve whdly that with every challengg an opporlunily arrives. Our enèrgy is always dire¢led on the positive, supported by our 8mbilion and drive for eDntinuous improvement throughout our organisalion, with a core focus on high quality service for the people we SUPPDrt. empowering them lo live a fulfilling life. FINANCIAL REVIEW Ferring Country Cenlre ended the 2023 financlal year wlh a defial of £117.7k (2022 Deficit £74.5kl, -5.6Qkn of lolal income12022 -3.9%), The financlal performan¢e of the grg8nisallon continued to be impacted by increased salaries and general costs risiThJ. 2023 has Segn a reduction in capital exp6ndllura. spènding £73.6k12022 £164.7kl. We inv8sI in Tnainlaining our equipment on an ongoirtg basis, however during 2023 there have been minimal sile improvements. Key areas of Capital gxpenditure Sncluded Ihe repl2￿ment of air-cxjndilioning units lor offi¢es, upgraded gales lo improve sile security, staff room refurbishment. conlinualion of the electrical upgrade. and routine upgrade of obsolBle IT 8quipmènt. 2023 was again a financially challenging year for the Organisalion. Whilst we ended the year in a dgficlt pi)slll(n, our overall financial position remains strong. We hold sufficient reserves should we need them and our cashflow has remained stable Ihioughoul the year. We understand the need lo strengthen our financial performance, ensuring we do not become reliant on reserves, and return lo a break even or surplus position as s(K>n as possible. Income in 2023 saw an increase against 2022 of £185k19.7°kn1. Revenue increased in 2023 in the Ridlng School, G8rden Centre and Ranger's Calé, bul de¢reased for Dalgs Farm. Our conlraclual Income from Wesl Sussex County Council decreased following a reduction in placements, an annual reduction of £6Ok which impacted the second half of the year. We identify two key 8re8s of risk, thèsa being.. 1. One contract is approximately 50Wo l of our lo181 income.. our Day Service Contract with Wesl Sussex County Council. (End dale of 30, June 20241. 2. Ongoing rising costs and high inflation. including higher employment costs. W8 aro unable lo fully miligale the first risk due lo requirement for a ¢ompeliliv& lender process. We were expecting this al the beginning 012024, in the event, lenders were submilled in March 2024 and the outcome is awaited. We havè takèn gleps lo ènsure Ihal we are well positioned lo produce a competitive bid in du6 coursa. In the meantime, we cor)linue lo work clos¢ly with Wost Sussex County Council, underslandlng their aspirallons for our type of service and ensuring this is considered within our planning pro¢e5S. The second risk needs lo be constantly monitored, boing responsivg lo hlgher costs by regularEy reviewing our pr￿Ing structure and continuing lo be prudent in our spending. Pago 8 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES The Charity's reserves, as shown in notes 17 and 18 of the financial statements amounted to £978.4k12022 £962.4kl, an incroase of £16k. The Truslegs considgr the ChBrily's available cash resources. for operational purposes. have d8creas8d by 0.9%, or £8.9k, and ara shown in thè table bèlow. 2023 2022 Investments and surplus cash Less.. Reslri¢ted fund8 Les5'. Designated funds 1,060.282 29,596 1,080,810 41,238 1030 688 1039 572 The Trustees have a cautious investment strategy wf(h little or no risk and the income generated from these resulting Inveslmenls amounted lo £23.5k, a 312.3% increase12022 £5.7kl. This is due to improved interest rates during 2023. Thè Trustees review the Reserves Policy annLFalty and have agreed that the Charity holds reserves equivalent lo 6 months, opèrating expenditure (expected lo be £1.151k in 20241 lo ensure the on-going delivery ol ils charitable objectives. To meet this. we need lo increase reserves by £120k. 2023 produced donation income of£55k12022 £43kl an increas8 of 28%, splll be￿en Unrestricted £32k12022 £24k) and Re8lricl&d £23k12022 £19kl. DonatK)ns, supporte￿ and Corporate Social Responsibility Our sln¢&r8 thank8 go lo all of those who give ggnorously and SUPPDrt our organisalion. You make it possible lor us lo achieve our objectives, invest in our services and support those al the very CO￿ of our s8rvice, that being any person with a leaming disability. In 2023 we recgiv8d donations from.. Individual Donors Tracy Ke8gan, Tom Burslow, John and Eve Dean, Mrs Wllson, K.Suk81, KC8rp8nler, Hllz Pollard, Slm¢Jn Groves, Vicky Woodard, Jennifer Royal, Peter Clark. Gaynor Crayden. V Wwd. H Linfield and Rodney Hart. Trust. Foundations and Compani88 The David Hunt Trust, Ernest Kleinwort Charitable Trust, GWCA Solicitors. Broadwater Conserwalive Working Men's Club, Teniler¢aie Ltd, Men in Shods, NFU Muiu81, AsdB Ferring. Wesl Sussex HortiOLJllural Club. PMW Communications, Chillem Charitable Trust. East Preslon Festival, Drones Golfing Socbety. Wesl Sussex Growers Associallon, Sussex Masons, Stanford Lodge, The Neighbourly and Breathe HR. Legacl8S We received twO18ga￿es during 2023 101811ing £24k. Support8rs & Corporat8 so￿al R8sponsihilily During 2Q23 we were pleased to offer volunteer days lo the fdlowing organisalions and CDmpanie5.' Equinili- 3 days American Express- 2 days Revènuè 8nd Benefits AdLJr Council- 3 days The FryGroup- 2 days NalWesl- 1 day Aviva- 3 days Rampion 2 Offshore Wind Farm- 1 day Canada Lifg 1 day We have maintained our relationships with the following supporters.. Co-op Ferring, Three Forts Marathon, Humber Avenue Cornmillee, Richard Bush, Rassasy, GWCA Sollcilors, MI￿On Lloyd Trust. Ferrlng Baplist Church, St Andrew's Church Ferring and Ferring P8rish Council. Page 9 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES PLANS FOR FUTURE PERIODS 2024 andb&yond Change has become a ￿rtainlY both within Ferring Country Centre and the outside worfd. This is likely lo eonlinua for the foresee8ble future. The greatest element of change we will experience in 2Q24 should b& thg aw8rd and Implementation ol the new Wesl Sussex County Council contract for supporting those with learning disabilities. The process commenced during JanLJary 2024, with Ihe outcome announcem&nl expecied by the end of Aprll. This outcome will signKicanlly influence the next stage of the story for Ferring Gounlry Cenlre. The lender process has required us lo work with partnars in our locality lo build a service offer. These relationships have been fledged during the bld wrillng process and we are excited to develop these further in due ￿urSe. We wll conllnue lo develop the seNlce8 we offer lo the people we support and look forward lo progressing a wider range of out ol hours activities tjuriro the year. focusing on Iho wants 8nd wlshes captured through our conliTIUOU8 improvement cyde. Strengthening our fin8nci81 performance w511 continue lo be an area of kay focus for both the short and long term. We musl ensure that we remain competitive as an employer, ensuring that our salaries and benefits assist us in attracling high cBlibre candidates. Salary rates have increased al a higher rate than our income in recent years. which continues lo place pressure on our finances. We will remain prudent in our spending lo help minimise the impact of rising costs on our organisalN)n. bul this musl nol ba lo the delrimenl of our sgrvica ¢x sil8. We aspire lo progress the addition of our purpDse-buill Fitness, Dance and Drama Studio by the end of 2024. Th18 facililywill b8 an excellent addit4.on forlhe Cenlre, providlng an arLessible and suitable space fora range of therapgulic and wellbeing activities. Stslar panels are also undar consideration lo redu¢0 energy costs and tsnvironmenlal impact, whilst increasing our sustainability. 2024 is the fifth and final year of our Cur￿ nl five-year Strategic Plan. With momentous change on the horlzon. Ihgre could not bo 8 béllèr tima for us lo review our offer and shapè our plans lor the future. Strategic planning wll be a priority during the early autumn months, enabling a new plan lo influence the financial planning for 2025. We will continue lo work hard lo enable and empower the people we support to live the life they want. Wa will achi8Va this by ensuring that everyone who accesses our services is given the opportunity lo have 8 VQt¢e lo influen¢e our direction and give guidance on the seNlces they would Ilk& lo receive and how they would like lo be sllpt￿rted lo achieve their personal goals 8nd aspirations. Amongst the cuffenl un¢ert8lnly, we are oplimlslic 8t￿1 our future. We are privileged to sUPPOrt and work abngside an inspiialional group of people. We will embrace Ihe delerminalion we see demonstratèd each day by thém and use it lo molivale us 811, Individually and as an organisetion. lo continue ourjourney towards delNering our mission. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directors of Ferring Country Centr8 Limited for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted A(zounling Praclicel. Company law requires the Trustees lo prepare financial slalemenls for each financial year, which give a Irug and lair view of the stale of affairs of the charitable company and of the incoming resources and application of resource5, including the incom8 8nd &xpgnditLJr6, of th& charitable company lor that period. In preparing these financial slalemenls, the Trustees are required lo.. select sui18ble accounting pol￿1￿$ and then apply thém consislenlly. observe the methods and principles in the Charilies SORP 2019 IFRS 1021. makè judgements and estimates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject to any maleiial dopartures di$d0s0d and explained in tho linanaal slalemenl8. Page 10 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 REPORT OF THE TRUSTEES prep8r8 the financial slal8m8nts on the going ¢oncèm basis unless il is inappropriate to presume that the charitable company will continue in operation. The Trustees are reswnsSble for keeping adequate accounting records that disclose wlh r&8sonable accuracy at any lime the fin8n¢ial position of the charitable company and enable them lo ensure that the financial slalemenis comply wth the Companies Act 2006. They are also responsible for safeguardlng the assets of the charitable company and hence for taking reasonable slep¥ for thè prevention and dèl8ction of fraud and other irregularities. In so lar as the Trustees are aware.. there Is no relevant audit information of which the ¢h8ritabie company's auditor is unaware,. and the trustees have tsken 811 steps Ihal they ought lo have taken lo make themselves aware of any relevant audit information and lo establish that the auditor is awar& of that information. The Trtjslees are responsiNe for the malnlenance and integrity of the ¢orporale and financial information included on the charitable company's website. Logislalion in the United Kingdom goveming the prepBralion and dis¥eminalion of financial statements may differ from legislation in olherjurisdiclion8. APPOINTMENT OF AUDITORS Blu& Spire Limited, have expressed their willingn8ss 10 stand for reappointment and a resolution proposing their reappoinlmenl will be pul forward al the Annual Gener81 Meeting of the charity. This report has been prepared havlng taken advantag8 of the small companies, exempti￿ in the Companies Act 2008. proved by tha TTUStees and Signed on their behalf. 6 June 2024 Dale Flol)ert A Roga Trusteg- Chaimian Page11 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 INDEPENDENT AUDITOR'S REPORT Independont Audltor'8 Report to the Members of Ferrlng Country Centre Llmltèd Oplnlon We have audited the financial slalemenls of Ferring Country Centre Limited (the 'charilable company'l for the year énrled 31 Oecember 2D23 which compri$8 the Slalemenl of Financial A¢lwilies, the Balance Sheet, the Slalemenl of Cash Flows and notés lo the financial slalemenls, including significant accounting policles. The linancial reporting framework that has been applied in Ihoir preparation is applicable law and United Kingdom Accounting Standards, including Financial Roporting Standard 102 Th8 Financial Reporting Sl8ndard Bpplicable in the UK and Republic of I￿16nd (United Kingdom Generally Accepted A￿OUnt1￿j Praclicel. In our opSnlon the financial statement& give a true and fair view of the State of the charitable company's affairs as al Idalel, and of ils incomlng resources and application of resources, including ils income and axpènditure, lor the year then ended., have been properly piepared in accordance with United Kingdom Generally AcceplÉd Accounting Pracli¢g,' and have been prepared in aecordancè wlh the requirements of thè Companies Act 2006. Basls for opinion We conducted our audit in accordance with International SlarKl8rds on Auditing (UK) (ISAS IUKII and applicablo Lgw. Our rgspon55bililies under those standards are further described in the auditor responsibilities for thè audit of the financial slatemenls section of our report. We are independanl of the charitable company In accordance with tha ethical requirements that are relevant to OLJr audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in èc¢ordance with these requirements. We believg that the aud51 eviden￿ we have obtained Is sufflcienl and appropriate lo provide a bas18 foT our opinion. Concluslons relatlng to golng Concern In auditing Ihg financial slatemenls, we havg ¢oncludad (hal Ihetrustees. use of the golng concern basis of accounliThJ In the preparation of th& financial slalemenls is appropriate. Based on the work we havo performed, we havo nol identified any material uncertainties re181ing to events or conditions that, individually or collectively, may cast significant doubl on the charitable compally's ability lo continue as a going concem for a period of al least iwefve month5 from when the financial slalemenls ara aulhorised for issue. OLJr responsibilities and the responsibilili8s of Ihg trust￿5 with respect lo going concern are described In the relevant sections of this report. Othor Information The other information comprises the information included in the report of th6 InJslee5, other than the financial slal6menls and our auijilor's report Ihereon. The trustees are responsible fDrlhe other information. Our opinion on the financial statements does not ¢ov$r th8 other information and. gxcgpl lo the extenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the olher Information and, in doing so, consider wh6lher the other infomialion is materially inconslslenl wath the financial slalemenls or our knowlèdgg obtained in the course of the audit or olhorwlse appears lo be malertally misstated. If we idenlrfy such alerial inconsistencEs or apparènt maleTral rnisstalemenls, we ar& réquired to determine whether this gives rise lo material missl818menl In the financial statements themselves. If, based on the wc>rk we have perfomied, wè ¢onclude that there is a material misstalemenl of this other infotmalion, we are required lo report that fa¢t. We have nothing to Teport in this regard. Opinions on othér mattèrs preBGrÉbed by the Companlès Act 2006 In our oplnion. based on the work undertaken in the course of the audit.. the information glven In Ihe report ol the trustees, which includes the directors, report prepared for the purpose5 of company law, for the financial year for which the financial slalemenls are prepared is conslstenl with the financial slalem8nts', and the dlreclors, report included within the Iruslees, roport has been prepared in accordance with applicabl818g81 requirements. Pagè 12 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORTOF THE TRUSTEES Matt•rs on whlch wo ar8 r6qulred to report by exception In Ihe light ol the knowledge and understanding ol the charitabl8 company and ils environment obtained in the course of the audit, we have not idenllfied malerlal mlssl8lemenl8 in the dlre¢lors' roport Includod within the Iruslees, report. We have nothing to report In ￿spe￿ of the followng matter8 in r8latlon lo whFch the Companies Act 2006 requires us lo report lo you if, in c>ur opinion.. adequate accounting records have not been kepl, or ￿turnS adequ8le for our audit have not bèan r8cèivad from branches not visited by us.. or the financial slalements are not In agreamenl with the accounting re¢ords and relums., or certaln disclosures ol trustees. remuneralion specified by law are not made., or we have not received all the infomalion and explanation$ wo require for our audit. or the Iruslees were not entitled lo Iprepare the financial slatemenls in accordance wSth the small companies. regime and lakg advantage of the small companies, exempllons In preparing the dlreclors, r8PQrt and from the rÉquirÈm8nt to prepara a strategic report. RosponslbIll￿QS of trustee8 As explained mDrè fully in the stalement of Iruslees, ￿SponSIbl1111es, the trustees Iwho are also the directors of the charitable company for the pUr￿seS of company lawl are respon8Sble for th& preparation of the finan¢ial slalemonls and for belng satisfied that th@y give a Irue and fair view, and for such inlemal Control as the Iruslees delemiine is necessary lo enable the preparation of linancjal slaternenls that are free from material misstslemenl, whethgr due lo fraud or error. In preparing the finan¢lal slalemenls, the Iruslees are responsible for assessing (he chaTilable company's ability lo continue as a going concem, disc103ing, as appllcab1e, mall&rs related lo g¢ing ¢tsn¢ern and using the going concern ba818 of accounting unless the Iruslees either intend to liquidate charitable company or lo cease operali)ns. or have no"reali511c allernalive bul to do so. Audltor ro8pon$lbllltlo$ for the audlt ol the flnanclal statements Our objectives are lo obtain reasonable assurance about whether the financial slalemgnts as a whol8 arg free frum material misslal8MÉnl, whather due lo fraud or error. and to issue an audilorfs report that indudes our opinion. Reasonable assurance is a high level of assurance, bul 18 not a guarantee that an audit condu¢led in accordanco with ISAS IUKI will ah￿ayS dgle¢l a material misslalemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or In the 8ggwalè, they could reasonably be expected to influence Ihe economlc decisions of users taken on the basis of these financial slalements. Irregularities. Sn¢luding fraud, are instances ol non-compliance with laws and regulations. We design procedures in line with our responsibililies. outlined above. lo delect material misslatemenls in respect of Irregularilles. including fraud. The exlenl lo which our procedures are capable of detecting Irr￿ul8r1￿e$. including fraud is deiailed below.. Based on our underslandlng of the Charity and the sector in whth il operates, we idenlrfied the wincipgl laws and regulations that directly affect Ihe financial statements lo be the Charities Act, Companies Act, and Employrnenl Act. Wè assessed the exlenl of compliance wlh these laws and regulations as part of our procedures on thè rèlal6d financial slalemènt items. In addition, the Charity is subject lo many other laws and regulations where Ihg consequences of non-compliance could have a material effect on arnounls or disclostjres in the financial statements, for instance Ihrough the imposition of fines or litigBlion. There is a limitation lo areas most likely lo have such an effect. Auditing standards Ilmil the required audit pioceduies to identify non-compliance with these laws and regulations lo enquiry ol the Trustees and other management and inspection of regulatory and16gal corrospondenca if any. Audit procedur88 p&rformed by Ihg engagement team included.. Enquiry of managemenl. those charged with governan￿ around aclual and potenllal liligalion and claims., Enquiry of enlily staff lo identify any instances of non-compliano wilh laws and r8gu18tions', Reviewing minutes of meetings of those charged with goveinance., Reviewing financial slalemenl disclosLJres and testing to supporting documentation to assess compliance with applicable laws and Tegulalions. Pagg 13 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE TRUSTEES Perfomiing audit work over the risk of management Override of ¢onlrds, including lesling of journal entries and other adjuslmenls for appropriataness. evaluating th& business rationale of significant Iransactions outside the nomial course of business and revieing accounting gslimates bias. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a matgrlal misstalemenl in the financSal slalemenls or non-compliance with regulation. This risk incre8888 the more Ihal compliance wlh a law or regulation is removed from the events and Iransa¢llons r&flecled In the financial statements, as wewill be less likelyto become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or misrepresenlalion. A further description of our responsibilities is available on the FRC'S website at.. h assLJrancelauditor-s-res onsibililies-for-the-audil-of-lhe-f. lion-of-I￿audIlo forThis description fomis part of our audiloT'S report. frc.or .ukJ8udiloTrlaudil- 99s-r8S Use of our report This report is made solely lo the charitable company's membèrs, 8$ a body, in ac£ordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mwht state to the charitable ¢ompanI5 members Ihosa matters w8 are required to state to Ihem in an auditor's report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility to anyone other than the d)arilable company and the charitable company's members as a bcKly. for our audit work, for this report, or for the opinions we have formed. Cawley Priory South Pa118nt Chichester West Sussex P019 1SY Geoffre Fr BSclHtsnsl FCA (Senior St8lulory ALJdilorl For and on behalf od Blue Spire Limited. Slalulory Auditor Dale 6 June 2024 P#g& 14 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI Z023 Total Funds 2022 Total Ftsnds Unrostdctod Funds General Dèslg*8ted Re5tr1cted Funds INCOMEAND ENDOWMENTS FROM.. t¥Jnallon$ and bgacEes Olher Irgding aclivilie Inv851menls Ch8ri1able 8¢1ivibe5 56,392 13.029 23,536 1.945.397 20.974 30.68 87,081 13,029 23,526 1,945,397 20,974 42.505 12.543 5,708 1,825,403 18,7e4 Totsl 1059,328 30,699 2,090,017 1,905,003 expENDITURE ON.. Rai$lng funds Charitable acti￿1*9 872 2,1e6,537 672 2,207,002 1.017 1,978,446 40.555 Tolal 2,167,209 40.555 2,207,764 1.979,463 Netlncomel(èxpondliur81 1107,8811 19.8661 1117,7471 174.4eiJi Tran8fvrn be￿90n funds 17. 18 123,874 1122.0981 11,7761 Ngtrnovemtnt In fvnds 1S,993 1122,0gBI 111.6421 1117,7471 174,4801 RECONCILIATION OF FU14DS Totsl fvnd& brOwMfo￿￿ftI 17 962.400 2,3W,213 41,TJB 3,392,651 3,457,311 Total funds ¢Arfed fowword 17 978,393 2.267.116 29.596 3,275,104 3,392,651 None of Ihe¢harilyBoth8r8clivrfie8 wero acqu￿￿ ordisrontsnued dvTifvJ Ihe Bbove lw0fin￿ti￿ year8. Thfrtharily has no recognised gBins OTlo8$88 olherlF*n those deahwith in IhD slBtemeni of finan¢AI Bd1￿11￿9. Page 15 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BALANCE SHEET AS AT31 DECEMBER 2023 2023 2[122 FIXED ASSETS Tangib￿ 888et$ 12 1267,115 2.389.213 CURRENT AS5ET5 SIoL* of goDdsforresale DBblors Cash al hand and in bank Total current 898•ts 13,722 62,305 1.060,282 1,136,309 14,813 68.54 1.060,810 1.184.172 13 CLIRRENT LIABILITIES Credilor5'. ainovnls falling due wilhin one year 14 128,320 160,534 Netcurrent assetsllllabllltlesl 1.007,969 1,003,636 Not 888*tsllllabllllle&l 3.275.104 3,392,851 THE FUNDS OF THE CHARITY Restrlcted funds 17 29,596 41,238 Unre5trtctsd funds Flxed Assgl reser¥e DeTAgnaled funds Gener81 fund$ Total unre5trlGted funds 17 2,267.116 2.389,213 17 978.393 962,400 3,215,508 3.35fj,613 Total ¢ttarlty lunds 3,275,104 3,392,851 Thtsa accowls hav8 been PTepared in 8Ccorda￿Wrth the prowsion8 applicabl8 lo companies SLOprl lo Ihe Sm￿1 cornpanEes' reglm. Tha rthes on p48s 21 to 30 fom part oflhe88 8ccount8. oved by th8 Irusteas S June 2024 and slgned cn Ihalrb8half. RobeitA G Rogw Twsl68- Ch&innèn Farring Counlry C8nlra Lknllad Registered charily no.: 297286 R$gI810￿ cOr￿anY no.: 2086358 Page 16 FERRING COUNTRY CENTRE LIMITED FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF CASH FLOWS 2023 2022 N8t cash Ilowfrom operatlng a¢Uvltle$1see betowl 20,320 104,358 Cash Itow from Inv88tlng a¢tlvltle$ Payments to acquiretangible fixtd assels Pro¢èed¥ on dispos81 oftsngible fixed asse16 Inleresl re￿Ived Net Cash flowfrom in¥88tlng fjctlvttles 173,5511 5.167 23,538 1184.8571 2,347 5.708 140,8481 1158,$021 Net 1ricr0a8tlld￿rèa80j In Cash and cash equlva18nt¥ 120,5281 152,2441 Cash and oguivalents at 1 January 2023 1,080,810 1.138.054 C88h and cA8h •qulvalonts at 31 December 2023 1,060,282 1,080,810 Cash and cash 84uNaltrnts ¢on81st of.. Cash 81 bank and In hand Cash and ¢a8h eqU￿alents At 31 December 2023 1,060,282 1,060,282 1,080,810 1,080,810 Ro¢ort¢lllatlon of not Income to not ¢88h flow from operatln9 a¢t1vI￿o6 2023 1022 Incomèfor Ihè wr 1117,7471 174,4601 Adlustsd for. In1￿e$l rewv8bk DepreL¥alion and impalrmenl of lawSbb fixed as8et$ Lossllprofill cn disposel ol t8Dgible fixed 885ets D£creasBJlincreasel in $lock De¢re8sellin¢regsel in d8blor8 Increa&elldecreastl in utdito 123,5361 194,158 17,8761 1,091 6,244 132,214 15,7081 182,982 12,0101 16901 17.7261 11,970 138.067 178,816 20.32Q 104,358 Page17 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES G8n8ral Informallon, 8copo and ba818 of thè flnanclal 8tstem8nts Ferring Caunty Centre Umitsd 18 8 priva18 cornpBny. I'mit￿ by guBrsnlge. 1worpoTaled in Engbnd w￿h the company numbar 02086358. In IkE event of Ihe ¢harily beSw wound up. Ihe118blllty In respect of the gu8ranlee Is 1SrrMl8d tD £1 ppr member ol the charty. The registered office and prinL¥pal place Df business is Rile Way, Feiring, Worihing, We51 Sussex, BN12 SJZ and 113 0per81ions 8r$ oullln¢d In lh6 liuslefrs. reporl. The chgrily COn￿lI￿leS a publlc benefit entity 89 defined by FRS 102, The flnanclal stalemenls havtr beèn prèparèd In 8ccordanr* vAlh Attounliw and Reporting by cha￿lIes.. Slatemenl of Rectynmended Pr8dt¢tr applKable lo charities preparing Iheir acGounls in accordance wilh Ihe Financial Reporting Siandard applKable in the UK and Republic of Ireland issued in October 2019, thè Fmanclal Reporting Siandard applrcable In Iha United Kingdom and Republic of IrelaNI IFRS 1021. tha Charille8 A¢1 2011. th& Comwanle6 20C6 and UK G8neral A¢eaptedAccounllrvJ Pra¢tlL*. The finan¢i81 stslement6 are prepared on a going con¢em basi4 underlhe hislorlcal co81 convenlon, M(￿1[￿j to kndude certain Bl fair V8IL*. The finan¢lal slatt￿￿TrI8 8r8 PTesenled In 518rfing whi¢h iglfve functional cutr8nGy of the tharily 8nd roynded lo Ihe Dearest£. The svjnifirant accounting pdicie6 appked in the preparalion of lI￿se financial slaemenis Are sel rArt below. Th•s8 polk*s h8va b8en COn5131endy &pplk9d 10911 ￿￿rg prgsgnled unl05s 01ha￿ls9 slated. In¢omlng Resour¢88 Pollcy Nots8 Al incorniro resource5 are induded in Ihe Slalemenl of Finanrial AG*￿ilIeS ISOFAI when the Charlly is le&ally gnlllled lo the incune afterany pgrfomianca condillon8 havÉ bo8n mot, tho amount can be measured rgliably and il is probabb that the wlll be recBived. For donatlon8 to be recwntsed the Ch8rfly wlll have been nolKkd of the 8rrv)unts aNJ date In wtttlrvJ. If Ihere arg (x)ndilions attaGhed to the donalk)n and this reqtsires a level of ptrfomTrance beforè enimiernenl CBn be obtained then income 1$ deferred until tho¥6 dilKJn$ are fully mel or the fuifilmenl of Ihose condill(￿S is ￿rythin the control ol Ihe charity and11 Is prob8bk* that they will be fU￿111￿s. In￿rne Irom Iradlng a¢ttyllb8 Includes I￿orn8 eamed trom fundr8Lqlng evenl$ and Iradlng advlUè$ to funds for th9 Chartty, Incorne 1$ rtsce￿ In exchango fortsupptyho gLN)ds and servl¢es in order lo r8186 funds and is recognisedwhen enlillemenl h8$ occurred. Incoffle from govemmenl and other grants are recognised at fair value when Ihe Charity h89 enlilbmenl afler any perf((￿￿￿¢8 r¥)ndilluns have baen mol, 11 Is wob8blo that IhB Incom8 wlll be received and the Bmounl c&n be moa8u￿￿ r&llaUy. If enlmemeni Is not met then Ihep amounts are defarr8d. Invesknenl income is earlled Ihrowh hokjiry Bssels such G8sh deposils and indudes inleresl recdved. Interest 4￿m￿lS iecoynLsed u81rt9 the effectlve Int$res1 method. where maledsl Ros¢Jurces Exppnded Poli¢y Notos All expenditure IE Accounted for on an BCCFuals b8￿5 and has been classified underheadings Ihal agoreuale all ¢o$ls relalod lo tha Ealegory. Expendilure 1$ reCOg￿Sed Whe￿ Ihere Is a leoal or constrwbve oblEgalion lo m8kfy paY￿￿Th￿ Io Ihir(I partiès, il is probabl& that the seUlem8nl wlll b8 requlred and th8 am0￿101 th8 obllgation can measured rellably. Slgff costs. support oosls endgovemance Gosls Support Costs ai8 th0￿ that a$sigl IFP work ol th8 charty dD not dlreclty rep￿￿Thf eharRable a¢UvlllB$ and Inc￿de offlcB c05t gov8fn8nGe c0818, adminislralive psyrdl Costs. Staff Costs hsva beeft 811o¢&ied belween costs of raipAng fund8. ¢harilabl$ 8¢15w1￿¥ and governartr cosls on the basFs of lime spent by staff. SuppoTI costs cannot be dire¢lly allribuied lo particular headings and have bee 8llo¢aled lo ¢osl of ralglng funds and expendSlur8 on charilsble activill68 on a bssls ¢tsn*¥lenl wllh u¥e of the re5ouT￿ Supwjrt cos15 hwe ￿loCated lo chadlabl8 acliyhlos on th8 L*si osllmate of the use ofih050 resDUIC8S. Govern9nca cosis are cosis a99od8led wllh the general Tunnlng of Ihe chgTily Bs opposed lo Ihe day lo day actlviues GDvemancp eosi$ have been allocated 10 ¢081 of ¢horllabk 8¢tNiVes on the ba$[$ they form part of carrying out tho$6 act1vl1￿S. Allocallonofsupport¢osl$ fjndu0v9rn￿e Go$ls Suppori costs and goveTnance cosis ale gllocated to the dwferenl BG*Nilies wilhln expenditure on ¢hariiabb a¢ll￿tra8 on Ihè ba￿$ ol Ihe numbarof cllants Involv￿ In aa¢* aclivlly. Page 18 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Employge b2nellts employees h8ve rendered 8arytC6 to Ihe Charity, 8hort-temi emrdoyee benBfilu to the emp1oyeBs are entilled are r8cognised 01 ihe undI5counted amowl expected lo be Pa￿ In t￿hange forlhal seM(x. Ponslon costs Tha tharily operatès defined conlribulltsn pension g¢heme&. Conlrfbullon8 to the 8chemB krtr charged to Il* $18l£mDnl of finaThdat act1￿1￿5 crt a pay8ble basLs. Lea&88 R￿1015 paya￿e and re¢afv8ble underopBrBtlng leases are ch8rged to Iha SoFAon a 8traEght line overlho Per￿ of Ihe ￿￿￿e. VAT The ChBrity ￿ regltsiered for VAT and tpaialo$ on a pArtIBI extmpllon ba￿s. C05ts are reC￿ded ￿n￿U81¥8 of VAT wilhin Ihe SOFA wlore Ihtry relate lo exernpl suppl￿s￿l1h o1herlrrec0vèra￿fr amoun18 oxpen5ed a5 they arl$8. Tthxatlon Th& ¢hariiy Is ¢onslderod to P95s Ihe lesl¥ 8et out In sactions 466 lo 493 CO￿OrS￿on T8x AEI 2010 ICTA 20101, ag such no Inix)m8 ta¥ i payable on Ihe choriVs*tlvMes. FIAèd A890ts Pollcy Notès T8ngible fLKtd atssets are Slat￿ Bt CQ$l less ac￿m￿sted depreciation and wnpaim￿nI k)$8eg. Gosl include3 ￿$t# dtrecl ailribulable to makky lh8 &s88t wable of Opera￿n9 as Iniended. Depreciation provided on all ianglble fixed 995ets. at rattr8 cakulated lowrilg off Ihe co&t, kss 8$llmated rB51dud valw, ofe8ch 8s5el on a 8y6temallc ba￿8 ovar ft$ expected useful life a¥ fdlows.. A56els Sn the course of CDnStru¢tion Freehdd buildings Freshold land Plant & mathnery Flxtures, fitbws & e4ulpm8nl Molorvthlct88 - 3.33%-5% per Hnnum on cost. - 25% ￿[annuM ￿ Cost. - 25% p8rsnnum ￿ c051. - 25% parannum on rèdudng bal?￿ basis. stock StrKks of pL8nt& 8950ciated m&tsiials 8nd glfl ilarns for 8re shown In Ihg bB￿n¢8 ￿81 at tho lowgr of cost and net realbablB valve. of re8Our￿ 8UGh as Se￿8, eompogt animal feed, anlmal medicines and Offi￿ slallonery are purchased wh8n required. Any bakqnce of8UGh iter￿ ￿ hand al Ihe sccounllw date are ll￿￿91￿9 and hav8 not beon valugd or Sh￿Nn a¥ 81cd, Debtors and ¢redknr¥ reoglvybltrl payablo wlthln one yèai Dablors and cr8dilor6 wllh nc> $laled inlere51 ralo and recthvab￿ or payable wilNn year are recorded Bt Iran¥8¢￿On price. Any losse8 Brisln9 from ImpAirmenl 8re ietognlsed in expenditure. Page 19 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIE5 Ca8h ¢ash oqulvalpn¢6 Cash cash eqUiva￿nts cornprtse on ￿Trd and c￿1 dop0￿18, and other Ehort-term highly Ilquhj Inve8iments th9t Bre re&S￿y convèrt1b￿ lo a known orTh)unt of¢a8h 8nd are tsubjèctto an ltslynthrAnl of change In Value. Funds Stiucture Poltcy NotOB Raslrfcfsdlunds Rtstrtct8d funds Bre funds which ala to be In 8¢¢trdan£trwlh Sp￿r[C reslricbons imposed by orwhth ha¥a b8on r8Ssed by tha charily for particul8r pu￿0895. The cos* Df raising and adrninislering such fund8 are ¢har9ed again51 the spocM¢ fuThJ. The alm a￿1 use of e8d) re$lrkt•d fund is sel aul In the nolo 17 of Ihese Iinancial ¥181orr*ths. unte8t￿lund6 Unrnslrkled fund$ are aVaila￿e for u58 al Iho dl$crotlon of tho trus1098 Sn ftJrtheratKe of the genaral Obl￿try88 of th8 ¢h8rty and whir* have noi been desiqnaled for olherpurpo80s. Golng tontern Th8 finandal slalements hava beBn pr8p$r￿ on a going cowam ba￿5 as the tsuBIoBB believe that no m8t8dd uncerfwnlK•B exist. Th8 ITUSlees have con8idBred the level of funds hald ond th& leval of Incorne and expendllure for 12 Tnonlhs from oulhorislno Ihese financial statements. The budgèted Inv￿Me and eXpe￿liture 19 Suffi￿ent wrth the level of reseNes for the ch8rfty to bè able lo continue as A golny tuncein. Paga 20 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS l. Donaflon$ and legaGIo¥ 2023 Total Fund$ Unr&strlct2d Funds Deslgnated Rostrfctpd Funds Donaiions Legacies Grdnt8 32,392 24,000 22,669 55.061 24.000 8,000 87,081 8.000 30,689 56,392 2022 Total Funds Unrestri¢t•d Fund8 G8n•ral Deslgnatgd Restricted Funt18 rh)n81lr￿s L2gades Grants 23,814 18,771 42.566 23.81dl 18,T71 42,585 2. Other tradlng a¢tlvltle8 2023 Total Fund$ Llnreslrfcted Fumd8 G8n8ral Do8lgn•tgd Restrf¢ted Fund8 FU￿18￿¥1ng Bvgnt Income Olher lundralslng IKome 1,914 1,914 13,029 13,029 2022 Total Funds UnrestriGted Funds Genèral Doslgnate Restricted Funds Fundi8lsing 8venl inDJm8 OlherfuiNlrai¥lng income 2,049 10,494 12,643 2.049 10.494 12.543 3. Investmont8 2023 Total Funds Unrostrl¢ted Fund5 General D88lunated R8Strlctod Fund5 Bank vrteTe8t 23.530 23.538 23,596 23,538 2022 Totsl Funds UnMstrlct8d Funds Ggngral Deslgnat8d Rqstrfctsd F¥rLds Bank Interest 5,708 5,708 6.70B 5.706 Page 21 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 4. Incomofrom ¢harltablg &ctlvlUe$ 2023 Total Fund8 Unrestrlcted Funds GeneTal Dèslgn•tsd Reslrfcted Funds Se￿￿e$ lo beneficlarle5 Ridino School and Rldlno T￿￿Y Unil Horti¢ullure Catering Service¥ Small knifflal FaTm Shop sales 1.122,088 211,960 65.429 377,515 113.264 35.141 1,È45.397 1.122.088 211,960 85,429 377,515 113,264 35.141 1,945,397 2022 Total Fund8 Unve8trlctod Funds General Deslgnated Restrf¢tsd Funds Serv￿e￿ lo bBn8flc￿ri8B Riding school 8nd Riding ThBropy Unit HoTiicullure Calering SerYic8S Small AnimBI FaTrn Shop Baks 5.074,310 162,194 77,008 341.115 118,810 31.966 1,825.403 1,074,310 182,194 77.D08 341,115 116.810 31,*6 1.825.403 S. Oth¢rlnGomlng r080urc88 2023 rotAI Fund Unrtstricted Funds GBner•l D88lgnatsd R8stricted Fund Friends ofFeriing Ctyjnlry Centra Cyhtrr mi¥cellaneous income Insuranc8 cloims Profil disP05al of assets tsoverrmenl COVID-19 8UPPOrt 13,269 T.675 13.289 7,675 20,974 20,974 2022 Total Funds Unrestrlcled Funds Gen•r41 Deslynated Rgstrlct¢ Funds FrieNl$ ofFerdry Counlry Centre Other tnis(dl8neouy inwne Inwrance Profil on dIspo￿l of &65et8 GovernmeDI com￿19 SUPPDrt 7,910 2.010 8.764 18,764 7,910 2,010 8.784 18.764 Page 22 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS fj. Raising fund8 2023 Totsl Fund5 Unrestrtcted Funds G8rt8ral Deslgnated R86tr1ctsd Funds Fundrak%iw costs 672 672 672 672 2022 Total Funds Unr88tri¢t•d Funds Gonoral D051gng¢qd Regtrlcted Fur¥Js Fundraislng c08ts 1,017 1.017 1.017 1.017 T. Exp?ndithroon ¢harftab￿ a¢tlvWos 2023 Total Funds Unreslrtcted Funds General Dfrglgnated Re8trfct8d Fund5 Dlrecl cost5 Personn81 costs Depre¢xalion DI¥po$81 of fL¥ed assets Support cos15 Isee nDte 81 251,467 456,784 60,375 6,229 257.696 456,784 eo.375 1,397,911 2,166,537 34,326 40,555 1.432.237 2,207.092 2022 Total Funds Unrestrlcted Funds Oeneral De5Tyn&tgd Rostrlcted Fund8 alr￿* costs Personnel ￿sts Depr8aat10n DlsposBI of fixed as5els Support ¢08t8 (see note 81 244.935 450,416 3.759 248,694 450.418 60.362 1,209.337 1,W.070 9.617 13.376 1.21B,954 1.976,446 Page 23 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 8. Support costs 2023 Total Funds Unr88trlctod Funds Oeneral Deslgnatod Fund3 st8ffiNJ ￿8t8 Premisas cog18 GovarnarKe and admlThstratiY8 cA)Bts Depreciation Client cos*$ Legal and professi￿81 fees 913,984 210,219 102,909 133,793 21,7S2 15.254 1,397.911 913,984 244,545 102,909 133,783 21,762 15.254 1,432,237 34,326 34,326 2022 Totsl Funds Unr08trl¢t8d Funds General Deslgnoted Rgstrlctod Fund5 Slatring costs PremiB68 ¢OSts Gov8mallte and adminislrati¥8 costs Deprecihlion Cfienl costs Legal and professional fees 783,573 181.812 87,847 122,599 19,210 14.296 1,209,337 783,573 184.420 93,455 122.599 20,611 14,296 1.218.954 1,401 ,617 9. Audltors. TeThuneraVon 2023 Total Funt18 Unr88fFtcted Funds D88lgnatéd R88trlcted Fund5 Audit Payroll seNk88 5,250 1.800 7,050 5.250 1,800 7,050 2022 Total Funds Unr•slri¢ted Fund5 General Doslgnated Re¥trfct8d Funds 5,250 I.BDD 7,050 S,250 1.800 7.050 P8yrol S￿1¢8¥ Page 24 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 10. Wago$ and salèry ¢o¥t 2023 Total Funds 2022 Total Fund8 Gros5 wages Employofs natk)nBI insurdnca costs Ir*t of èmrAoym&nt allowanc81 pen￿0￿ costs Reisundancy l Temiinouon paymants- Ful and flnBI settlemènt 1,187,91e 86,754 72,814 7,170 1,324,ey 1,100.882 65,184 59.435 2.498 1.227.999 2023 2022 Averaga head (yJunl 82 79 Anatysed byfLMcllon'. RTU 8nd rldh9 school ortKulivre Café, 8hop. fartn and visitor cenlF8 Day 5eNce and cllwrt deVel￿ment 35 29 32 29 ManAgernenl *vJ admini$lration 82 79 Calculated on 8 fu1141w equNglenl ba￿5. Bnaly88d bYfUn￿h?n.' RTU and ndlng Khool Horticullu Café, 6hop. fatrn Bnd ￿￿lIar centro Dgy 5etViCe and clenl devdoprr•nt Fa¢11￿￿8 Marwment and 8dmSThk81ralion 12 20 13 23 48 49 During the year under rewew one ernFI￿?12o22.' no employe8#1 hèd emlum8n* (excluding employer pentsion eostsl above £fjO.QOO in th2 rang&£eO,OOOto £70,000. Thè nur￿￿Or ofstafllowhom rellramanl benofils are accruirvj underdefined ¢onknMAion Schemes 2023 2022 RTU elld ￿h¢ FundraSslng ort￿Ul1Ur8 CBfé, shcrf). fsnn and w1￿10[centra Day Service and GIIBnl doveloprnent Facili￿83 Manggemenl and admlnK%lralh)n 14 25 59 52 D6rN￿￿¢onIri)vI1oRp8￿sl0n SC￿Me Tho ¢harlly otwgl£s A defin8d Eonlrlbullon ￿nsIOn schetne for 118 employees. Employer Gon1ri￿li0￿S lu lh8 $cfÈme during the year under review aTnounled 10 £72,814 12022.. £59,435) wrth £6.868 12022.. £5,949> payable al the balan￿ sheet dale in rpspgcl of employer and &rnployee conlribulion¥. PeTh8v)n ar8 Blk)raltrd lo chari18b19 aclknlles and 8UPPOrt costs on the ba￿8 of Bc1￿[l￿S the ￿m￿0ye￿I9 Invdved in. Page 25 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 11. Related party tronsoCtIon8 No Iru¥tee recelved 8ny remunerallon frorn employn￿￿t or Ot￿r benefits ￿th the ¢h8rfly durfng thg year under revknw nor ￿L￿P£r81￿8 year. During the year undBr review 812022.. 51 membets of th8 charity's 51aff, ￿e￿Ill￿ a$ key management per60nnel, r8¢dved etnployee benefii8 lolalllng £196,57812022.. £20B,9471 consl$ling ol salary, le￿I￿atIon payemenls and empbye¢s pension ￿ntrlblrt1Ons. The ch8rfly relmbur3ed expgnse& ¢￿t% on behalf of key rnanggemenl personn81 Sncurred during Ihe luifilmenl ol their reponsibilit￿ts In th8 year lolalling £1.295 12022". £1,599). In Bddition 8 leaving gift ID tho value of £50 wa5 pfovKled lo one of ihe tnernbers of key managem8nl personnel. Tl ¢hBrity's key mAnagemenl personntrl are included in the group life assurance plan forempkjyees. No donalions were recalved from the Chaiity'ts IrusleeB whh or wllhoul cond511onts ÈttaGh8d. In Ihe conw8rativb ye8r dm91ions lotalllTVJ £fjeo wer& r8￿N￿d vAlh undllbns ailathgd. During Ihg year under r8vlew four chddren 12Q22-. ¢hlldrtsnl of key management p?rsDnnel were ernploM on a part lime basls and réceive￿ eiN￿Oyee benfft$ tolaling £4.08212022." £51,460) beiween Ihem. Thertr wer8 nL>otherlransaclh)n$wilh rdaled partleslhal reqLire disclosure In flnanclal statements. 12. Flxad assets A￿ets In the cour$8 of con$tru¢llon Land & Bulldlngs Plant & Ma¢hlr¢8ry Flxtur¢6, Flttlng& & Equipment Motor Vehl¢fe8 TOTAL Al 1 January 2023 Addlllons DisPOSa Al 31 Decembor 2023 3,413 3,315,346 13,199 3fj1,289 9.993 272,626 51,359 47.785 3,950,459 73.551 115,0001 4,009,010 15.ODD 32,785 3,413 3,328,545 320.282 323.985 Deprs¢thllon AcGumulaled Bl 1 JaDUgry 2 har￿ f(Y lh8 year On dlsposals Al 31 De¢8mbei 2023 1.142.315 1￿2,885 235,131 31,567 140,357 57,435 37,443 2,471 13,509 28.405 f.661,246 194.158 113.$09 1.741.895 1.245,000 2fj6.898 203,792 N21 book value Al 31 D8cemb8r2023 3.413 2,083.645 53,584 120,193 2,267,115 Net tw)ok value at 31 D8cÈmbw2022 3.413 2.173.031 76.158 128,269 10,342 2,389213 13. Dobtors 2023 Total Fund8 2022 Total Fund$ Unrfyslrfctad Fund$ Gantral De$lgn8ted Re$lrlct8d Fund5 Ihltt on•ye8r Tiade debtors Prepaym8nl¥ and 8(xNÉd Income Olher debtors 664 61.641 10.394 51,4B8 6,667 68,549 61,841 62.305 62.305 Pag• 26 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 14. Credltors 2023 Totsl Funds 2022 Total Funds Unr88trf¢t¢d Funds General Dè$lgnat•d Reslrfctsd Funds Trade Creditors Qitrerlaxes soc[81 so¢￿ c0515 VAT Payab Accruals and defeff8d Incorf 22,494 22.715 62,085 21.02e 128,320 22,494 22,715 62,085 21,026 12B,32D 31,028 fj9,92è 62,846 46,731 160,534 1S. Commltments underop6r8tlng lea8e8 2D23 Total Funds 2022 Totsl Funds At 31 Doc8mbér the chBrity h¥J low Trynimum ￿a$a payments uNJer ope181ing lea3es in resp¢t of v￿￿18&whIch 0X￿r0 88foSbw In1trs8 than one year Laler Ihgn oneyearand not blerlhan Iwo ya9rs 2,805 2.805 3.059 Tot811o&$e payrnenls in ielalbn lo vehideB recogni&ed as an &>pen88 in the wrwere£6,985 2023 Total Funds 2022 Total At 31 D8V￿mbert￿e tharfly had total mlnimurn lèa$8 p8ymeDt$ underoperallry leases In re8pect of Off￿ uipment which expl￿ as fc4lows". Fund5 In1esslhaD oneyear LalerthBn one ytr8rand nol later than Iwo years Laler than years and not laterlhan five yeors 7,512 3,244 3.244 2,433 B.921 17.388 31.963 Total kBse payrnenls in rB181Eon looffu e4uipmBnl recogni5ed 8$ an exwnse in the yearw8r6 £2,862. 16. Analy818 olnot a8sots bètsvèon fund8 2023 Totsl Fund5 UnreJtri¢tad Fund8 Flxed Asset Rètstrictsd Funds General De51gnated TangiNe a5sds Cutr8nl asse1¥ Cuir8nl I'8trA1il￿s 2.267.116 2,267,115 1.136.30 128,3201 3,275,1(M 1,106,713 1128,3201 978,393 29.596 2,267.115 29.5 2022 Yot81 Fund8 Unrestrlcted Fynds Flxed Asset Re$trl¢ted Fund¥ General D•slynatod Net cuirenl &g¥etsllli8hliiie51 Currenl a9sg19 Currenl liabSlllle¥ 2,389,213 2.389.213 1.164,172 1180.5341 3.392.851 1.122,$34 1160,$341 962.400 41.238 2.389,213 41.238 Pagè 27 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 17. Analysls olnot mowmant In fund5 Year 8nded 31 December 2022 Total Totsl Tr8n818r8 Incomlng &ource5 be￿￿n rtrsources oxpent1od lund8 Total funds brought forward Total fund$ Carrlèd fO￿ard Reslrfctedfunds Café Caterin9 464 585 4,734 585 9,349 12,078 5.200 8,901 1.396 9.929 4.493 85 916 16,7681 lfj.T181 Fami Horfi RTU WootNvoFkShop Dance and draffla sludlo Qlher reSIr￿ted funds 4,091 4.818 1,3 6,0 7,41LI 29.596 14,9991 6,0(M) 9,2e6 30.68 9.285 41,238 140.$551 1,7761 Unr&sliictedfvnd8 FixedAs5et resetve 2,369,213 2.389.213 Desi9nBled funds- Tho tharity'8 Irustse8 de￿1￿#￿￿ funds forlhe lollowkvJ purpoye* COVIO-19 fe8pon66 Total de51gnaied funds General re¥eD￿$ Tot81 ￿n￿estrICted funds 122,0981 122,0981 2.267,115 2267,115 982,400 3,351,613 2,059,328 2.059.328 2.167.209) 12,167,209) 123,874 1.77fj 978.393 3.245,506 Tol81 funds 3,392.851 3,2T5.104 Yoarended 31 0ecernber2022 Total Total TransfèrB Incomlng resources &ource5 Totsl fund8 brought lorw•rd Tolal fvnds tarrled forward xpend•d d$ R8$11ic18dfunds Café Cateriry 464 565 3,349 12.076 5,200 8.900 1,397 9,2e5 41,238 5e5 2,621 4,591 5,000 11,417 1.535 13.882 40.275 14,4321 Faiin Horfi RTU Woodwork Shop rreslricted tunds 7,600 200 1,185 (3,7021 3,225 18,771 18,0221 13,3761 14.4321 un￿S1￿Cled1Ulld8 Flxed As$&l reserv8 2.407.875 2.407.875 De8lgn8led fu￿8- Th8 ¢harK¥s trust668 haw dèslllnatsd fundsforlhe following purpose8'. Cov1￿15 Glienl response foo,000 Toi81 de$vJn8led 100,000 Geneial re5erve5 TOW unreslFiCteO fuThJg 118.6621 18,662 2,309,213 2.369,213 1100,000 1100,0001 123,094 4.432 1,886.232 1.886.232 1,968,087) 1,966,087) .4(K) 3,351,613 3,427,036 Total fund5 3.467.311 1,W5.LY)3 11.979.4831 3.392.851 DEscrlptlon of funds Café Fundg recewed lo Support Ihe ch8riVs CBfé wh￿h IB opgn lo Ihe Genondl Publ￿ as well as prov￿1￿0 Iralnlng and skllls for our Day 8eMce customers. C8lerfnD Funds rqceTr¢ed lo ¥upwrt Ihe GhErily's Catedng dapartmfrnt provlde the equlprnenl Ihal ana￿ets uur Day Setvice Customers lo learn develop ¢al8rin9 S￿115. Pay¥ 28 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS D•s¢rlptlon of funds Icontlnuedl Clbnt Funds recewed lo support the chaT￿Y'S Day S2T¥￿e Cu51omBr¥ and enaNes them ID and develop s￿119 Ihatthey rAn use In 8veryday life. FBrm Funds ￿￿1Ved lo support Ihe charity* Dales F8rm,' allowlw lo enhBne* thts facil￿8$ lo piovlde training and DPPOrtunll￿$lO D8y Serv￿2 CusiorneT8. Hor Funds rerAved to support th8 ¢harlWs HorticullurBI d2partm8nt by PmKlino the loolino and ofher p￿650n$t0 en8ble our Day SerYKè c￿ar$ to ￿arn and d8volop gklls. RTU Funds iew¥ed lo support Ihe charitys Riding Thèrapy un￿ to allow us lo suppDrt our Day Ser￿e6 Cusiomers and Ihe Rid8rs attend the Centre lo rthlh8 horEes 33 a bèwfid81 therapy. Woodwork Shop Funds reCe￿￿d to support ihe chaiilY$ w0￿rk tshop 81owho us lo bjlld. purch9¥0 tod8 And 8upplk99 lo enable our Day Servk8 Customers in karning woodwoik skils. Dsn1￿ and dr8ma siudlo Fund8 recelved lo support the charity'5 Dance and drama studlo plans to provide Dur Day SO￿1¢e Cu&lotnètsYllh In¢raased and widBr oxpBilenc8s. ot￿r 18$lrfrlÈd fund5 Olher funds rece￿ed to 8UPPOrt the chaiity in olher restllcl8d ptoi8Ct&. Flxed asset res&Ne Representing the balBnc* of Ilxed assets held by tha ch8rty- COWD.19 dient ￿sponSe Fund$ h9ve beBn d851ynal6d by the Irustees from reseNe5 to Improva 8nd dev8lop rth8d and r8sDur¢as for the Cenlre's clEntswhD have IDBt a¢ctr¥s durlrvJ the COVID.19 pandemlc. IB. Trnnsfvs bett￿enI￿ndS Unvestrl¢tBd Funds Flxed Asse¢ RestrlGted Funds From To Gèn•ral Dotslgnatad Tr8nsferl ienl GenerAI raBÉtvÈ¥ Flxed As$el reserye Fl¥ed Assel resèrve 1.778 123,874 1122.0961 11,7701 123,874 123,874 Transftrlrom re$lriGled funds de¥kJnated funds rfft acquiEth'on of fixed &888t¥ aThY compklKin of pN4*t8. Ttansf8r2 COVID-19 c4ienl ro8pon8a Generd reseNes TrBnsfBr fiom desion8led lunds lo unre81ricted go￿Tal fynds 8$ no longerrèquired. 123.874 122,098 Pag• 29 FERRING COUNTRY CENTRE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 19. Flnanclal In8trumtrnts The carryiw amounts oflhfr instnhnents are lolows.. 2023 Tofal Funds 2022 Totsl Fund8 Finan￿618￿$￿16 Debt ins1rum￿ls m8a¥ured al amortised GOSI.. Tr8de debtors 664 fj64 10,394 10.394 Fln8ncla1llab￿i￿s Mgasured at Htnortkgd COBI.. Trade crediioFS 22.494 22,494 31,028 20. Comparatlvo statem811tof flnancial actlvltles 2022 Llnr•$tsfj¢tsd Funds Gonerol DeslgnAt8d Rostrlctod Fund Fund¥ Not? INCOME AND ENDOIAIMENTS FROM: Donaliony gnd lell8¢ie$ oth8r Iradlng act￿￿eS Inveslmenl$ Charli*l6 adivlliBs Olher TJ,814 12.543 5,708 1,825,403 18,784 19,771 42,585 12.543 5,708 1.825,403 18,764 rotsl 1,8￿.232 18,771 1,905,003 EXPENDIYURÉ ON: RALsing fu￿9 Chariiable acUvilie$ 1.017 1.965,070 1,017 1.9T8.44e 13,378 Total 1,966,087 13,376 1.979.463 Not In¢omelloxpendllur&l 179,8551 5,395 174.4601 Trangfert he￿Ben funds 17, 18 123.094 1118.W21 14,4321 Net movèmont Irb fund$ 43,23 1118.6621 963 174.4fj01 RECONCILIATION OF FUNDS Total fu￿8 broughlforward f7 919,161 2.SD7.875 40,275 3.467.311 Tolal fLtnds carrlod forwArd 17 g62.400 2.389,213 41,238 3,392,851 Page 30 Ferring Country Centre Limited REPORT TO THE TRUSTEES Audit for the year ended 31 December 2023 ## Ferring Country Centre Limited Report to the trustees ## **Contents** |**Introduction and**
**terms of reference**|We set out the objectives of our audit, its scope and summarise our findings| |---|---| |**Audit status and**|| |**timetable to**|We set out any matters required prior to completion of the audit and the timescale for these| |**completion**|| |**Independence**|We confirm our independence| |**Key accounting and**
**audit matters**|We discuss audit findings| |**Adjusted and**|| |**unadjusted**|We set out any adjustments made during the course of our audit and any differences which remain unadjusted| |**differences**|| |**Current technical**
**Developments**|We set out the current accounting, regulatory and corporate governance developments that are relevant to the charity.| ## Ferring Country Centre Limited Report to the trustees ## **Introduction and terms of reference** **Introduction** - This report summarises the scope of our work and the key audit and accounting matters arising from our audit of the financial statements for the charity, including those matters identified at the planning stage. - The report is prepared solely for the use of the management and trustees of Ferring Country Centre Limited and should not be shown to any other person without our express permission in writing. We do not accept responsibility for this report to any other person and we hereby disclaim any and all such liability. - We have substantially completed our audit work in respect of the financial statements for the year ended 31 December 2023 and anticipate issuing an unqualified audit opinion. - This report covers those matters we believe to be material in the context of our work. **Audit scope** The scope of our work, as agreed in our Engagement Letter, was to carry out an audit in accordance with International Standards on Auditing (UK and Ireland) of the charity’s financial statements prepared under United Kingdom Generally Accepted Accounting Practice (UK GAAP), Companies Act and the requirements of the Charities SORP. In addition it was to form an opinion on whether: - The financial statements give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of the surplus or deficit for the year then ended; - The financial statements have been properly prepared in accordance with UK GAAP, Companies Act 2006 and the Charities SORP; - The information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements and in accordance with applicable legal requirements. We are also required to consider whether: - Adequate accounting records have been kept by the charity, or returns adequate for our audit have not been received, or - The financial statements are not in agreement with the accounting records and returns, or - Certain disclosures of any trustees’ remuneration specified by law are not made, or - We have not received all the information and explanations we require for our audit, or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors’ report and take advantage of the small companies exemption from the requirement to prepare a strategic report. ## Ferring Country Centre Limited Report to the trustees ## **Introduction and terms of reference** **Key accounting and audit matters Materiality and unadjusted differences** - Brought Forward; Café operations and potential tax liability -  Will documentation for legacy income - Materiality is considered to be £31,000 for the financial statements as a whole; - However, we are required to bring to your attention any audit adjustments that we have identified but which management are not proposing to adjust above the clearly trivial figure of £1,000. **Systems and controls** - As part of our audit procedures we have documented the processes and controls on, and performed walkthrough tests of, the key transaction streams that impact the financial statements. - We should point out that, as the purpose of the audit is to form an opinion on the charity’s financial statements, our examination cannot necessarily be expected to disclose all shortcomings in systems and controls. - Significant issues which we wish to bring to your attention as a result of the work we have performed are set out on in the relevant section of this report. **Fraud and error** - We have considered the risk of material misstatement due to fraud and error. - We have also made enquiries of management and trustees as to whether there has been any fraud or unadjusted error during the period under review. Management and trustees are not aware of any fraud or unadjusted error. ## Ferring Country Centre Limited Report to the trustees ## **Audit status and timetable to completion** **Audit status Timetable to completion**  We have substantially completed our audit work. This report details our main findings.  The following key areas remain outstanding in respect of our audit: o Receipt of signed letter of representations. o Receipt of signed accounts.  The charity’s AGM is to be held on 6 June 2024 where the financial statements are to be approved and signed. Ferring Country Centre Limited Report to the trustees ## **Independence** Under Auditing and Ethical Standards, we are required as auditors to confirm our independence to “those charged with governance”. In our opinion, and to be confirmed by you, we consider that for these purposes it is appropriate to designate the trustees as those charged with governance. Our internal procedures are designed to ensure that all partners and professional staff are aware of relationships that may be considered to bear on our objectivity and independence as auditors. The principal statements of policies are set out in our firm-wide guidance. In addition, we have embedded the requirements of the standards in our methodologies, tools and internal training programmes. The procedures require that audit engagement partners are made aware of any matters which may reasonably be thought to bear on the firm’s independence and the objectivity of the audit engagement partner and the audit staff. This document considers such matters in the context of our audit for the year ended 31 December 2023. In addition to our audit work we have provided statutory accounts preparation services to the charity. This presents a potential threat to our independence as auditors as, in part, our audit work will be assessing the output of our accounts preparation services. Blue Spire Limited also carry out the provision of payroll services for the entity. Similarly, to statutory accounts preparation this presents a potential independence threat. The payroll service is provided by individuals outside of the audit team and all judgements and decisions are taken by management. Audit regulations recognise that, with smaller organisations such as your charity, a combination of services is often in the client’s best interests and so long as safeguards are in place no significant threat to audit independence arises. One of these safeguards is the existence of informed management who have been identified by the trustees as Hannah Tombs, John Ashby in addition to Linda Clark. We have discussed those safeguards with management and the chair of trustees and they have agreed that they are sufficient to mitigate any material threat to audit independence arising from the preparation, by us, of the statutory accounts for the charity. We confirm that the firm complies with the FRC Ethical Standards and, in our professional judgment, is independent and objective within the meaning of those standards ## Ferring Country Centre Limited Report to the trustees ## **Ke accountin and audit matters y g** |**Key audit areas**|**Description**|**Auditor response, any recommendations and our conclusion**| |---|---|---| |Café operations and|During the last 2 financial audits we raised a concern around the|As part of the audit for the year under review we made an| |potential tax liability|charity’s exposure to corporate tax through its café and assorted|assessment of this analysis and were able to satisfy ourselves over| ||other trading activities and provided a backdrop to trading by|the risk of a tax charge of does not exist.| ||charities and how a tax charge could be avoided.|| |||We recommend the monitoring and review of this area is continued| ||We discussed this area in detail with management and a|to ensure a tax charge does not arise and provide the opportunity to| ||representative of those charged with governance with a focus on|respond as necessary should it be anticipated one may.| ||how the charity should respond to this risk which included:|| ||
Greater analysis of the relevant income and costs; and|| ||
Expansion on the use of the charity’s day service|| ||customers (beneficiaries) in the operation of these|| ||activities where possible.|| |Will documentation for|During the audit it became apparent that will documentation was|We recommend that a copy of the will documentation is requested| |legacy income|not requested upon receipt of legacy income. We are, however,|from the will Executor upon notification of legacy payment, to ensure| ||content that any further income due on the legacies received in the|the legacy coming in is accurate and to gain an understanding| ||year (if any) is not likely to be material.|whether any residual balance is due to the entity in the future.| Ferring Country Centre Limited Report to the trustees ## **Adjusted differences** ||**Statement of**|**financial activities**|**Balance sheet**|**Balance sheet**| |---|---|---|---|---| ||**Expense**|**Income**|**Asset**|**Liability**| ||**£**|**£**|**£**|**£**| |None||||| Please note we have not included adjustments provided by management or those which were agreed and made as part of the accounts preparation ## Ferring Country Centre Limited Report to the trustees ## **Unadjusted differences – in excess of the clearly trivial figure** ||**Statement of**|**financial activities**|**Balance sheet**|**Balance sheet**| |---|---|---|---|---| ||**Expense**|**Income**|**Asset**|**Liability**| ||**£**|**£**|**£**|**£**| |None||||| ## Ferring Country Centre Limited Report to the trustees ## **Current developments** |**Title**|**Summary**|**Impact on**
**the charity**| |---|---|---| |||| |**Updated guidance**
**from the Charity**
**Commission**|_Charity campaigning and political activity_
The Charity Commission published guidance during May 2024 in respect of campaigning and
political activity and how these are regulated now an election has been called.
_Protecting charities from abuse for extremist purposes guidance and toolkit_
The Charity Commission updated their guidance and toolkit to avoid exposure to those who
encourage terrorism.
_Environmental responsibility for charities_
Updated guidance issued by the Charity Commission on how charities can improve their impact
on the environment and be energy efficient including considerations where the charity’s objects
have no mention of the environment.
_Work with other charities_
The Charity Commission updated its guidance on identifying partners, drawing up agreements
and fundraising collaboratively.|No specific impact, however useful
information.| |||| |**Charities Act 2022**|Guidance and reminders are available on the Charity Commission website setting out the phased
introductions of new rules and powers.
_Changes from 7 March 2024_

Making changes to governing documents

Further provisions around selling leasing or disposing of land

Charity mergers and recognition of gifts|Points of note generally with limited
impact on Ferring Country Centre
Limited and its ongoing activities.|