Charity Reglstration No. 30010S THE CHILD BEALE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
THE CHILD BEALE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustgas J. Bryce D. Carr M. CaNell J. Chitty D. Maloney {Appoinled 15 September 20231 (Appolntèd 14 Seplemb8r 20231 Charlty number 300105 Audltor Richardsons 30 Upper High Street Tharne Oxtordshire OX9 3EZ Bankers HSBC plc 2 The Square Panoboume BÈrkshirè RG8 7AH Sollcltors Wills Chandler 76 Bounty Road Basingsloke Hampshire RG213BZ Investment advisors R8thbon8S 8 Fin5bury Circus London EC2M 7AZ
THE CHILD BEALE TRUST CONTENTS Pag• Trustees. report Independent auditols repoxt Statem¢nl of financi81 activities Balance 8heet 10 Statement of cash flows Ntstes lo the financial statèments 12-24
THE CHILD BEALE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Thè tnjstees prgsent their report and financial stat8m8nts for thè yéar ended 31 Octob¢r 2023. Th8 fin8neAal stalem9nis have been prepared in accordance with the #ccounling policies Sgt out In note 1 of thè fifian¢ial stslements and cornply with the charity's TDJst Dèed, thè Charities Act 2011 and"Accounting and Reporting by Charitias.. Statem8nl of Recommendad Practicè applicable to chanttes preparing their accounts in accordance with thè Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191". Obj•etlv•s and Aetivitios The oblectives of the Charity ar• to prtsvidÉ and maintain a public park. providing an educational faulity for those Interested in wildlife and plants, 8nd also prowding a leisure fadlity for the general public. The Charity owns land in Berkshire has developed Bealo Park to 8chieve the above oblectiv&s. The ChaTty's activities include the conservation of animal species. The Trustees confirm that thèy have referred to the guidanfje contained in the Charily Cdrnmission's general guidance on public benefit when reviewing the Trnsl's aims and objectives and in planning future activities and development of the Park. There has bèen no chang8 in these during the year. The trustees have paid due r8gard to guidance issued by th6 Charity Commission in deciding what aGtivilies the charity should undertake. In lo achieve the charitable objective5, the key part of the estat& Is a ld1rfe park wlth marnmals an tmrds surrounded by gdanS and lakes alongside the River Thames. Thls provides a facility for those interested in wildlife and cons8rvation, whilst also providing leisure facilities for thè 98neral public. This Is the base for the education dgpartrnenl and the anlmal species conservation aclivity, although animal Conservation does extend to the far ends of tha èstate wth in-situ native wildlife conservalion projecls. Conservatron The charity is invtslved in the conservatton of both dornesti¢. rare and endangered animal species. The Tnjst is an active, licend member of BNZA IBThlish and Irish Zoo and Aqtjarium Association) ensuring that animals ar9 bred and cared for in aecordance with their guidellnes and wg hold a zoo licence with West Berkshiro council. Facilitias havè been updated and impriwed fr)r the current speaes h&ld, whilst it has been Important k) restock the pork with younger, healthy anlmals to carry th8 collectlon forward. Al the collection plannlng stsge, all species brought in pras8nt either a strong conservation m¢ssag8. or have a high aducalion value, and all their new exhibits reflect this whilst reaching towards tnodem zoo standards of educatlng the visitors irnmersively. New habitats for old species have under9one. and continu& to undergo, significant upgrades in order to mÈet our high stand8rds or animal welfaie and to give the visitors somelhing new to see each lime they visit. Of notsble succgss is our new Eurasian lynx kittens, proving that the new, largar 8nclosure we investEd in last year has been a huge success in our breéding programme. We have introdUd new speci6s. as w811 as brèèding our current anlmals.
THE CHILD BEALE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 The Trusts conservation efftjrts extend ou18id8 the wildlife park's animal coll8cUon and into the wder estate: In our continued effort to increase blodiversity we are r6gistérèd with the governments countrysid8 stewardship scheme and comnNt to wild bird feeding and set aside and manage th land for that purpose alone. We ar¢ part of 8 nationwide nebmork running 8 15- 50 y88r long data collecbon project wSth tho National Bioscien Research Infrastructure, h(>slÉd by Rothamsted and funded by BBSRC. This puls us at the forefvont of data coll8Ction on Ihg migration of moths and aphlds, contribubng to invaluable research into climalg chang8. The national migrating inssct natworks represents Ihg most comprehensive stsndardisod long-lerrn data on insects in the worfd and has a wide range of fund8mental and applied uses. Our DrmOuse monitoring program in Tookie Woods has seen us added to the Nalonal Dormouse Monitoring Programme. Our èfforts have included creating a wonderful habitat th series 0130 specially ¢J¥signgd boxes to Successfully boost the populaUon of Hazel doffliice within our estate. Educatlon Education continues to bè 8 eom9r8tone of the Parks acliwlies and an Improv6d offering has been successfully developed. Education groups at o favourable admission charge are encouragèd to usè the ngw, much larger Education Centre which includes both indoor and outdoor classroom spaeè. As well as our POPLJlar Zoo Club and Zoo Academy, we have now introduc9d key 8tage related workshops for school visits and 8 higher education Introduction to AnSmal Careers, which gives valuable insight into the various options for young adults looking to 8mbark on a c8rèerwith anifflals. Our new Nalure Tots weekly S85sions aT8 aimed at our youngest audl&ncg with a weekly programrne of creative activities all oenlered around the natural workl and wildlife. We participate in the provision of fomial ÈdLJcational programmes for a range of school students from EYFS to fvrther education. Thes& sèssions are curri¢ulurn based but also include our Gharilable aims of wildlife conservation, and pro envirunmenlal behaviours. Education is not only for schools but also for thè widèr public visiting the parti. Inrlusivg of all ages and background5. Our coFnprehenslvÈ education progT8mffjing Considers these different audiencès, and the different approaches needed to 8ngag8 thès8 groups with ¢onservalion, focuslng on lomal and infomi#l methods. Educatlon is prDvid¢d in many forms on sile including interpretadon, visitortalks, school vlsits and events. These differgnt offerings can fil into inlorrnal education offèrings Inon-curriculuml and formal ¢duGalio offerings (curriculum based}. We continuè lo liÈ in Mllth each of BIAZA'S campalgns and events and actNilies based on nèw nsgryalion campaigns throughout thè yaar, which enhancg the visitor experience and educationa1 value during holiday periods. The informal Éducational events will usually Include a trail around the parf( with paper and srnall prize at the gnd. as well as free workshops on the topics led by our qualified educaknn officer. We continue to provide high quality kgeper talks throughout each day as wèll as the paid extra animal experiencés fttr Msitors to get up close lo, and leam abou(50rne of our fascinating endangered spècies hérè al th¢ park.
THE CHILD BEALE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Performance Park admissions and annual mèmber8hips continue to provide the majority of thè nècÈss3ry funding for developing and running the park, a number of events are atso held to supplement this. in addition to rental Income frotn our propetti6s, both commercial and residential. A new addition is the Wild Kltchen Café, which we hava rèfurbishèd and are now managing house. Although in lis Infancy, the fir7ancial performance Is promlslng and the ability to manage ond control our own catering offering is a valuable tool in visitor satisfadion and flexibility of our offering. An improved marketing stral8gy has sèèn a significant increase in engagement across social media, and an enhanced visitor experiencè, howèvèr visitor numbers We less than expeGted for the year, a trend which may ba due to ihe econofflic instability of the country and therefore reluctance of the public lo pay for non-necessitiÉs Ilkè a day out At the Wildlife Park. Finan¢lal r&vlew The Trustees. financial aim is to ensur8 that tha eharity controls costs and thes¢ are substsntially covered by income. It is the policy of tha charity tts maintsin free reserves al a level whSch genèrotss sufficient income whèn combined wlth othèr sources of income to meet manag¢menl. adminlstration and support costs and lo respond to èmèrgency needs which arise from time to tirng. The Trustees. having regard lo the liquidity requirements of c>pèrating the Park and lo the reserv¢s policy have op&r8ted a policy of keeping available funds In readily walisable quoted shares and securlties and lo soek a rate of return which matches or oxcogds inflalion as measured by the ratail prfcès Index. Such funds are managed by Rathbones of 8 Finsbury Circus, London EC2M 7AZ in secordan with the TrustEes instrudion8 and sultabl@ to the charities objectives. Rlsk Management The Trustees have a risk management strategy which comprisès.. A comprehgnsive risk register. Ongoing review of the risks thg charity may face. The establishment of systems and PredureS lo mitigate thosè risks idèntified in the risk register. The implemèniatl(>n of procedures designed lo minimi¥¢ any potsntlal irnpacl on the charlty should Ih05e risks malerialise. The risk ragistèr hss identified a few minor new risks and has gnabled implementation of bottar 9[g8cY pro¢Edures and contingency plans, together wlth better ¢)ngoing planning. Health and Safaty of visitors (general public} and workers has been given particular attention. A key element in the management of financial risk is the seth'ng of a reserves policy and its regular review by the Trusl8es. Plans for Futur• P•rlods A number of Capltal expendllure projècts are planned for the 2024 seasorTr, with careful planning and balance between infraslruclure, enhancing the visitor •xpèriènc8 8nd erbhancing animal habitats, all feeding into our ¢harilable objectives. These projacts will bè agrè8d with the CEO and boord irf trustees in line with available funds lo invest.
THE CHILD BEALE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Structuro. gov•mane• and management The charity Is conStUted as Trustees and its governing documènt is its Tru81 Deed. dated 141h August 1956. The trustges who served during the year and up to the date of signature of the finallcial ststements were.. D. Maloney M. Carvell D. Carr J. Bryce (Appointèd 75 September 2023 J. Chlty (Appointed 14 September 2023} Trustees are selected and Snvitèd lo join the Board of Trustses by 3119 Trustees and the appointm8nt of Trustees is vested with the Trustees. The board of Trustees. whith includes all Trustees. administèrs the charity. The board me¢ls on a regular basig, Étlgast four limes a year. Tha CEO h8S thè SPonsibl11ty of managing tho day lu day operation of the charity. To facilitate effgGtivo operations, the Trustees delagatè authority for operational matters, including finance and employment to the CEO. New Trustèés undergo orientation to brief them on th8ir18gal obligations under eh8rity and company law, the content of the Trust Deed, the committee and decisiw-making process8s. the buslness plan and rècent financial performance ol thè charity. Tnjstees are encouraged lo attend appropriate extemal training events where these w511 facSlltslo tha undertaking of their role. statement of trusts•s' r•sponsibilities The tnjstees are responsible for weparing the Truslees, Report and the financial statements in accoTd3nce with applicabla law and United Kingdom Accounung Standards Iunlted Kingdom Gen6rally Awepled Accounting Practieal. The law applicable ID charities in England snd Wales requires the truste6S to prepart financial statements for each financial year which givè a true and fair view of Ihe state of affairs of the tharity and of th8 incoming resour¢es and application of resources of the charity foi th81 year. In prep8rtno these financial statements. tha twslegs are required lo.. select suitable a¢¢ounting policies and then apply them consistèntly- obsèNé the rnelhods and pdnciples In the Chariles SORP., makè judgements and esQmates that are reasonable and PTudenl', stale whether applicable Èccounting Stsndards have en followed. subject lo any rnalerial departures disclosed and éxp5ained in the financial statements., and prepare th8 financial statements on the going conrn basis unle8s Il Is inappropriate to prèsumè that th¢ Gharity will continue in operation. The trustees are responsible for keèping sufficient acc4)unling records Ihal disclose with reasonable accuracy at any time th& financial position of the charity and enable thom lo ensure that the financial slalemenls comply wilh Ihg Charities Act 2011, the Charity (Aceounts and Reports) Regulations 2008 and the provisi5 of the trust deed. They ara also responsible for safeguarding the assots of the charity and hence for taking reasonable steps for th8 pravéntlon and detection of fraud and other irrggularflies.
THE CHILD BEALE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 QCTOBER 2023 DlselosurÈ of Inlomiatitsn to audlttsr Each ol the ttu3teos has confirm8d that Ih8re 18 no infofmation of which thay 8r& aware which is relevant lo the audit, but ofwhich the auditor is unaware. They have further confirmed that they have tsken appropriate steps to identify such relevant infom)ation and lo establish that the auditor is aware of such information. Thelr pprov8d by thè Board ofTrustegS. alonèy TNstee Dated.. 2710612024
THE CHILD BEALE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHILD BEALE TRUST Oplnlon Wè have audited ihe financial slatetnents of Thg Child Beale Trust lthe'charty'l for thè year 8nded 31 O¢lob8r 2023 which comprise the ststefflenl of financial activrtses, the balance she&t, th6 Statèmènt of cash flows and the notes to the finanaal st8tÈmènts, ifkcluding a sumrnary of significant accounting policies. The financial reporting framework Ihat has bÈèn applied in theirpreparation Is applicablè law and United Kingdorn Accounting Standards. Including FRS 102 The Financial Reporting Standard applicable in tho UK and Republic of Iroland (United Kingdom Generally ACpIed Accounting PracttcÉI. In our opinion, the financial statements: give a true and fair view of the slate of the charitys affairs 8S at 31 October 2023 and of its incoming rèsources 8nd application of resources, for the year then èndad,. have been properly prepared in accordance with Unit8d Kingdom Generally Accepted Accounting Practi¢e- and have been prepared in gccordance with the requirements of thé Charitiès Act 2011. Basls for opinion We conducted our audit in accordance with Intem*ional Standards on Auditing IUKI IISAS ILJK)l and 8pplicable law. Our responsibilities under those standards are further described in the Auditor's r6sponsibil8s for the audit of the financial slatÈments seetlon of our rèport. We are independent of the charity in accordance wth the ethical requirements that ar8 r81ev8nl to OUT audit ofihe financAal statemènts In the UK, including the FRC'S Ethical Stsndard, and we havo illed our other ethical responsibilit16s in 8ecordance Mlh these requiTements. We bolieve that the audit evi¢enGe we have obtained is sufficient and appropriatè to provide a basis for our opinion. Conelu5i0ns relatlnq to sjolno concern We have nothing to report in respéet of thé fdlowing matters in relation to which the ISAS IUKI requi us to report to you where: the trustees, us6 ofthÉ going eoncern basis of accounling in the preparation oflhe financial statements Is not approprtats,. or the trustees have not disclosed in thè financ181 ststements any identtfied material un¢grtainties that may cast significant doubt aboLrt the charity's ability to continue to adopt the going ooncem basis of accounting for 4 p9ri0d of al least twelve months from thè datè whèn th8 financial $taternen are Othér Information The other informatlon eompri8es the information induded in the annual report othèr than the financial statements and our auditovs raport thérèon. The trustees are responslble for thg other information. Our opinion on the financSal statam•nts doès not cover the other information and we do not express any form of assuran conclusion Iharéon. In connection with our audit of the financial statements. our responsibility is to read thé other inforrnalion and, in doing so, consider whether the other information is materially inconsistent with tha financlal statements or our knowledge obtsined in the audlt or othenmise appears to be materially misststed. If wè Idanlify such malelial inconsistÈncies or apparènt matèrial misstaternenls, we are required to determine whether there is a material misst8t&ment in th8 financial stslements or a material misstatement of the tsther information. If, based on the work we havè pèrfomÈd, we ¢ondude that there is a matérial misststem8nt of this other infomialion. we are qUIred to repc¥t that fact. We hav• nothing to rewrt in this regard.
THE CHILD BEALE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CHILD BEALE TRUST Matters on whlch we are requlred to r•port by •xcèptltsn We have nothing to r8POrt in respect ofthe following matters in r81alion to whith th8 Ch8ritias IAccounts and Reports) Rggulalions 2008 require us to ieport to you if, in our opinion.. thè Infomation given in the financlal statements15 inconsistent in any matarlal rg$peclwith the Iruslees, report.. OT suffirient accounting records hav8 not been kept., or the financial statements are not in agrèèment with tho accoutbting rgcords-, or we have not received all the Inforfflation and explanations w8 r8qulr8 for our audit. Rgsponslbllltles of trust00 As explain6d more fully in the statement of trustees, responsibilities, the trustees are responsible for the preparation of thè fflnancial ststements and for belng satisfi¢d that thgy give a true and falr view, and for such in19rnal control as the Iruslees detemiine is necessary lo enablo the prepaiation of financial statements that are free from maleTial misstatement, whèthèr du8 to fraud or error. In prepart9 Ihg financial slalements, the trusta8S arè rèsponsible for assessing tho Gharity's ability lo continue as a going concern. disclosing, as applicable, matters reLiled to going coneern and using the golng conrn basis of acc4)unting unless the trustees either irrtend to cease operations. or havè no roalislic alternalive bul to do so. Audltorfs rosponsibilities for Ibe audlt of the flnanclal $tatements We hav8 been appointed as audltor under section 144 of the Charities Act 2011 and report in accordance with thB Act and relevant ragulations madè or having effect thereundor. Our objectwes arn to obtain reasonablg a$suran¢e about whether the financial statsments as a wtrKile ar• freè from material misstatement, whether du¢ lo fraud or error, and to issua an audtlorfs reF)Ort that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee thal an audit conducted in awordanc8 wlh ISAS IUKI will always detect a material misstaletnent whgn il exists. Misstatements can arise from fraud or error and arè considered material if, individually or in the aggregate, they could raasonably be expected to influen¢e th& oconornic decisions of users takèn (>n the basis of these financial stat8mants. A lurthgr dgscriplion of our responsibilities for the audit of the financial ststaments Is located on the Finandal Reporting Council's websita at.. https".Ilwww.frc.org.uklaudslor51¢sponsibilities. This desciiption lorms part of our auditorfs report. Oth•r rnattgrs Your attention is drawn lo the fact that the charity has prepared financial statements in accordance Trmlh "Accounlng and Rèporting by Chartlies.. Statem8nt of Rocommended Practic8 applicable to charities preparing their accounts in accordan with the Financial Reporting Slandard applicabl8 in the UK and Republic of Ireland IFRS 102). (as am6ndadl in preference to the Accounting and R¢porting by Charities- Statement of Recommended Practice i5suEd on 1 Apfil 2005 which is referred to In the exlant regulations bul has now bèèn bwthdrydwn. This has been done in order for the financial statements to provid8 8 true and fair view in accordance wlth current Generally Acpt&d Accounting Practice.
THE CHILD BEALE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CHILD BEALE TRUST Usa of our report This rgport is made solely to the charitYs trustaès. as a body, in accordance with part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charttws trustees those matters we are required lo stats lo them in an auditors, rew>rt and for no other purpose. To th8 ftjllest exlenl pemiltted by law, wg do not accept or assume r6sponsibllltyto anyone other than thg ¢harity and the charity's trust88S as 3 body, for our audit work, for this report. or for the opinions we have formed. Rlrhardsonts 2710612024 ChartBrnd Arcountanls Statutory AudÈtor 30 Upper High Streg1 Thamè Oxfordshire OX9 3EZ Richardsons is eligible for appointsnant as 8udtEor of the charily by vlrtue of Its 6ligibility for appointmwt as auditor of a company under of section 1212 of thè Companies Act 2C6.
THE CHILD BEALE TRUST STATEMENT OF FINANCNL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 Unrestrfcted Restrict•d funds funds 2023 2023 Tol81 Unrestrlcted Restrlcted funds fvnds 2022 2022 Total 2023 2022 Nots$ Income and endowments Irom: Donations and legacies Charitable activities Invèstrnents Other income Cotnmorcial trading 41.629 1,e34,646 9,724 95.651 283.143 41,629 1.634,646 69,724 95,651 283,143 44,834 1.778,102 35,050 94,339 155.144 44,834 1.778,102 35.050 94,399 155,144 Total incorna 2,124.793 2.124.793 2,107,469 2.107.469 nditure on: R8ising funds Commercial trading 102,238 223.809 102,238 223.809 52,434 109.980 52,434 109,980 Charitablè 2¢tivrties 1,704,739 17,000 f.721,739 1,497,406 17.000 1.514,406 Total resource expended 2,030,786 17,000 2,047.766 1.659,820 17.000 1,676,820 Nel galnsl{lossesl on investments 11 1118.929) (118,9291 170,3201 170,320) Nèt loutgolngifin¢oming resources 124,922) 117.0001 141.9221 377,329 117,000) 360,329 oth?r recognlsed gains and lossos Revalualion of tanglble fix assats Net movement In funds 124,922) 117,0001 {41.9221 377.329 117,OCQI 360.329 Fund balances al 1 Novèmbér 2022 8.059,491 68,000 8,127,491 7,682,1fj2 85,000 7,767.162 Fund balanceg at 31 October 2023 8,034,569 51,1)00 8,085,569 8.059.491 68,000 8,127.491 The statement of financial activities includes 811 gains and losses recognised in tha ygar. All income and expenditure deNve from continuing activities.
THE CHILD BEALE TRUST BALANCE SHEET AS AT 31 OCTOBER 2023 2023 2022 Group Paronl Group Parent Notes Flxed assets Intangible assets Tangible assets Invèstmènt propèrties Investments 12 13 14 15 25,347 2,871.267 1,680,000 3.016.206 25,347 2,700,769 1,680,1 3,016,206 2.758,221 1.680,000 1.682,703 2,750.153 1,680,000 1,682,703 7.592,820 7,422,322 6.118,924 6.112,856 Current assets Stocks 0obto)rs Cash al bank and in hand 16 17 38,142 92,018 802,722 5.515 508.436 502,564 35,984 169,373 2,274.342 8,860 453,003 1,989,267 932.882 1,016,515 2,479,699 2,451,130 Creditors- amounts falllng duè within one year 18 1440,1331 {390.762) 1471.132} 1444,655) Net current assets 492.749 625.753 2,008,567 2,006,475 Total assots less current liabilittes 8,085.569 8.048.075 8.127,491 8.119,331 In¢om8 fvnds Restricted funds UnrestriGt¢d funds General unrestricted funds Revaluation reseNa Fund rgtained in non-¢haritable subsidiary 20 21 51.000 51,000 68,000 68,000 7.697.700 299.375 37.494 7.697.700 299.375 7,751,956 299,375 8,160 7.751,956 299.375 8,034.569 7,997,075 8,059,491 8.D51.331 8.085.569 8,048,075 8,127,491 8,119.331 The financial statements ere approved by the Trustees on 2710612024 rvo11 Truste• Maloney Trustee 10-
THE CHILD BEALE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 Group Parent Group Parent Not•s Cash ljows from optrating aCtivioS Cash genemted from 25 202.747 15.256 $47,905 470.307 Investing activtti•s pUhas9 of intangible asset Purchase of tsngible fixed asset5 Proceeds from dlspos81 of tsngrble Pro¢treds of disposal ol investment Purchase of other investments Proceeds from disposal of othor Inv8s¢m•nt incoma rèceived 125,777} 1267,549} 1,667 3,747 I653,4) 1802,7241 69,724 125,77n 195,141) 1.667 3.747 1653.455} 1802,7241 69,724 1163,5391 (163,2401 (173,776) 196,149 35,050 (173,7761 196,149 35.050 Ngt ¢ash genèratéd from Invèstlng aetivitFÈS 11.674.367) (1,501,95SI 1106,1161 1105.817) N•t cash usèd In financing actlvltles Net Increase in cash and cash 11,471,620) 11,486,703) 441.789 364,490 Ca¥h and Gash equivalents al beginning of year 2.274.342 1,989,267 1,832,553 1,624.777 Cash and cash equivalgnt¥ at gnd of year 802.722 502,564 2.274.342 1,989,267
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER2023 Accountlng pollcles Charity Infonn•titsn The Child Beale Trust is constituted by Tmsl8es as a body and ils governing doojmenl is its Trust Deeé, datsd 14th August 1956. 1.1 Accounting convention The financial statements have been prepared in accordance wllh the charity's Trust Deed, dated 14th August 1956, Ihe Charities Act2011 and'Accounting and Reportsng by Chadties.. Statement of Recowwttnendod Practice applieAblè to chÈriti8s praparing their accounts in accordance the Financial Reporting Standard applicable In the UK and Republlc of Ireland {FRS 102> leffecuve 1 Jarbuary 20191" The Gharity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and R8portsl R8gulationx 2008 only to the exlènt r8quir8d to providg a true and falr vlew. Thls dèparture has Involvtrd followlng the Slalement of Recommended Practice for charities applying FRS 102 rather than the version of the Statsm8nt of Recommended Practica which is r8f8rred to in the Regulations bul which has since been withdrawn. Tha fin8ncial statèmènls are prepared in sterling. whlch is thp functiunal cuncY of th8 charity. Monetary amounts in these financial statements are rounded to the ne81È8t £. The financial statements have bggn prepared under the historical cost conv&ntion, modrfiéd to Include the revaluation of freehold properties and lo include investment properties and certain finaneial instruments at fair value. The principal accounting policies adopted ale set out bo11)w. 1.2 Golng concern Al the lime of approving the financial ststamants, thè trustees have a reasonablg expectation that the charity has adequate resources to contlnue In operational existence for the foreseeable future. Thus the trLt8tee$ Continue ttr adopt the going concgm basis of accounting in preparing th8 financial statements. 1.3 Charltablg funds Unreslricled general funds are funds which can be used in accordance wth the charitable objects at the discretion of th8 Truste8S. Designated funds ar8 funds sot asid? by the Trustees out of unrestricted general funds for spgcific future purposos Of prolo¢ts. Restricted funds are lunrls that can only be used for paCular restricted purposes wlthin the objects of the Charity. Restrictions arise when speclfied by the donor or when funds are raised for parbcular restricted purposes. 1A Income Incomè is raeognised when the ¢harsty is legally entilled to it after any performan conditiuns have been mel, Ihg amounts can be rneasured reliably, and it is probable th8t inwme IMII be received. Cash donations are rgcognised on receipt. Other donations ara r8cognlsèd onc8 thè eharity has been notifi of th8 donation. unless performance condllions require daferral of the 8m¢unt. During the year ended 31st Octobar 2018 the tharity ceiVed a gift of a significant collection of mcKlel l)oats from the Estate of the formgr Chair of fr(Jslees, Richard Howard. An accurate valuation was not POS8iblg but il is believed they may in totsl be worth £240.000. The charity will dispose of thèse boats over a long period of tim&. to obtain the b8sl value in Ihg maTket. The Trustees detarmined that the proceeds from sale will be r8cognised as they artse and are shown as gifts within Voluntary Inwm8. 12-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Accounting policl•s {Contlnuodl Legacies ar6 recognlsèd on CeIpt or otherwise if the charty has been notified of an impenlling distribution, the amount Is known, and receipt is expected. Ifthe amunt is not known, tho18gaoy is treated as a contingant asset. Grants are reco9nls6d 8t lime r)f ceIpt. Grants received in respect of capital developments are set against the relevant capital expenditure. No provision has been made for possible dawback of Any gr8nt. IdlKe Park admissions inwme and other Park actlvity income are recognised in the p8riod In whlch thè charity is entitled to receipt and is defgrred where il relates to futuro ovgnls tskin9 place or entitle8 entry lo the Park in lure periods. Income from Investm8nts is recognised on a receivable basls. 1.5 Expendlture Llabilities are recognisEd as expenditure as soon as there is a legal or constnJctive obligatlon commitbng the charity to that expenditure, il is probable that a transfer of economic benefits will be requirad In settlement and thÉ amount ol the Dbligation can be measured reliably. Expendilute 15 a¢counled for on an accruals basis and has been classified under headings that aggregate all Cost TelHled to the category. Where costs cannot b& directly attributed to particular headings they hava an allocated to actiwties on a basis consistent with the use of Costs of raislng funds are those c05t5 inGurred in attracting voluntary Income, and publiaty or information costs invofv&d ln ralsing the profile of tho charity. They include the costs of commercial trading &om the gift shop run by thé subsidiary company. ChzrStable activitits5 include expenditure associated with the operation of thè Wildlife Park an¢J Farm and includg both the direct costs and support costs relating to thes8 setiviknès. Govemance costs include those incurred in the governancè of thè charity and its assets and are primarily associated wlth constitutional and 5tstukiry requirements. Support costs include central functions have been allocated lo activity cost categories on M basis consistent with the use of resources, e.9.. allocating property costs by floor areas or per e2plta. slaff costs by thè timè spent and other costs by their usage. 1.6 InlangibFe fixed assets othor than goodwlll IntangiblE a5¥ets awuirgd separately from a business are re¢ogni5ed at cost and ar6 subsequ8nly measured at cost less acwmulated amortisation and accumulated impairment losses. Intsngiblg assets acqulred on business combinations arg recogni5ed 5eparatety from goodwill at tha acquisition date where It Is pn)bable that the expected future economic benefits that are attributablè to th8 assst wi15 flow to thè 8ntity and the fair value of the asset can be measured reliably,. the intangible asset arises from contraetual trr other legal rights. and the inlangible asset Is separablè frotn the entity. Amortlsation is recognis8d so as to writ8 off the eost or valvalion of assets less I1r residual values ovor their useful Ilves on the followSng bases.. Strntegy Mast8rplan 10Vo Reducing Balance 13-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Accountlng poll¢les {Contlnued) 1.7 Tanglble flxed assèts Tangible fixed ass6ts arè initially rneasLfrgd al cost and subsequenlly measured at cost or valuation. net of depreciation and any Imp8imenl losses. Dèprèciation is recognised so as to wIito off the cost or valuation of ass8ts lèss th8ir residual values overthglr seful lives on the following base5'. Freehold land and buildings Plant and equipment Park Equlpment and Facilities Motor vehicles ststues and Works ol Art Computers 2Y.- Reduclng Balance 25%- Reducrng Balance 100/. Reduting Balance 25Y.- Reducing Balanc8 5% - Reducing Balance 331. Reducing Balance The galn or loss arising on the disposal of an asset is det8Tmingd as the diffeTence b6tw8én thé sale proceeds and the carrying value of asset and Is rèttognised in net incomellexpenditurel for thB year. 1.8 Inv•stm¢nt property Froperty. exGluding that occupied by staff. that bÈcomes tenanted is required to bo trgated as an Invesknant asset. The value shown In the financial statements represents either la} a valuation as provided by the TrustÈès on a rental basls to determine market value or {bl an open m8rkÈt value as provided by agents where the property is eapable of 8eparate disposal. Where property is placed on the market forsale the valuation Is based on th8 agants bèst estimate of the sale value subjed to a deduction for prudenca whate the sale has not yel tsken place. 1.9 Flxed a$$ot Inv$tmnts Quoted Investments org Staled al market value which is bgsèd upon th8 closing middle markgt price al the accounts datè as advised by the fvnd managErs and investment advisers. Dividends and interest are included whan rÈeéivable. Realised gains and losses on disposal of investments arÉ rÉcognised in the Slalement of Financial Activities when th6 sale has cofflpleled. Unrealised gains and Icisses on revaluation at eBch year end are shown in tha Statament of Financial Activities and addgd lo investment valuation in the Balance Sheet. 1.10 Impalrmgnt of fixed assets At aaeh reporting end dale. the charity reviews tha carrying amounts of its tangible assels lo dglermine wheth therè is any indicalion that those &sels havg suff8Ted an impairment loss. If any sh indication exists, tho recoverable arnount of the asset is estimated in order lo delemiine tha extant of the irnpairmenl loss lif any). 1.11 StoekÈ Slocks are Staled al the lower of cost and esbmaled selling price les& wsts to complete and sell. Cost comprises direct materials and, wharè applleablè, direct labour costs and those overhead5 that have be&n incurred in bringing the stoGks lo their present location and condltlon. Items h8ld for distribution at no or norninal consideration are measured the lower of rÈpl8camènt cost and cost. Nat re81isable value is the estiated selling prl¢e less all estimated costs of eompletion and costs to be incurred in marketing, selling and distribution. 1,12 Ca¥h and ¢a$h equlvalents Cash and cash equivalents Indude cash In hand, deposits held at call with bank5, Dther short-tenn liquld investments wlth original rnaturilies of three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowings in ourrenl liabilities. 14-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Aeeounting pollcles Icontlnuèd) 1.13 Flnancial Instrumènts The charity has elected to apply the provisions of Sèdon 11 'B8sic Financial Instruments, and Section 12 'OthÉr Flnancial Inslrumenis Issues, ol FRS 102 to all of its financial instwments. Finan¢i81 in81ruments are recognisad in the charitys balance sheet when the charity becomes party to the conlrdclual provlsions of tho Instrument. Financial assets and Ilabilities are offset, Wtth the net amourts presented in th8 financlal statements, when thero is a legaNy enforceable right to sèt i>ff the recognised amounts and the Is an intention to settle on a net ba8is or lo realise the asset and settle the liability simultaneously. Basic financlal assets Basic financial assets. which inelude debtors and cash and bank balanfjos. are initially measur8d at tr8n3action price induding tran5aGtion costs and are subsèquendy carried al amortlsgd cost using the èffèctlV8 interest method unless the arrangement conslitules a financing tr8nsa¢tion, where the tran5aclion is measured at the present value of th8 future leiptS diseountsd at 8 rnarkel rate of interest. Financial a8sets classifiéd as rèceivable within one year ale not amortised. Basle Ilnaneial Ilabllttles Basic financial liabilitie5, including cmditors and bank loans are initially recognisgd at transaction price unless tho arrangement constitutos a fv'nanclng transaction, where the debt inslwmgnt is rneasured at tha présent value of the future paymonts discounted al a market rata of intarèst. Financial liabiltties classifi¢d as payable within one year are not aorsed. Debl instruments arg subsequendy canied at amortisÉd cost, using the effecdve Int&r8st rate method. Trade creditors are obligations to pay for goods or services that have ba8n acquired in the ordinary cours9 of operations from suppliers. Amounts payable are classiffed a5 current liabiliti88 if payment is dua wrfhin one year or less. 11 not, they arè prèsented as non-current llablllÈS. Trade creditors are recognised inidally at transaction price and gubsgquent]y measured al amorUs&d cost using the effective interest m¢thod. Derecognltion of financlal liabllltlos Financial liabilitl•S arè derecognised when the chartty's conlraclual obligations expire or are di8charged or cancell6d. 1.14 Employev bongfl1¥ The cost of any unus8d holiday enlillement Is rgcognised In the period in which thè employee's services are received. Tèrmingtion beneflts are rOgnIsed immediately as an expense when the charity is demonstrably commlttad to temiinale the employment of an employee or to provida tèmilnation benefits. 1.15 R8tlremènt benefits Payments to d8fin8d contribution retlr&ment benefit 8shemes are charged as an 8xpènss Ss they fall due. 1.16 Birds and Anlmals The Trustees IcK)k the dèclsion in the ygar onded 31 October 2019 to no longer value the birds and anima18 88 they Gannot be bought or sold and, like other similarorganisalion8, they will no longer b8 calrièd In thè Balance Sheet. 15-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 IneomB from donatlons and1gga¢l•$ Unrestrlcted Unrestrlctèd funds funds 2023 2022 Donations and gits Grants receivable 26,629 15,000 29.729 15.105 41,629 44,834 Grants rècèivable for core activitj8¥ Other 15,0 15,105 15,iyJo 15,105 Incomè from charflable actlvltl6$ 2023 2022 Wildlife Park admissions InGOThQ from other park activities 1,468,462 166.184 1.563,652 214.450 1.634,646 1.778,102 Invostmonts Unrestrlctèd Unrèstrf¢tsd fvnds funds 2023 2022 Inve$trnent incow 69.724 35,050
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 othor Income Unrestrict•d Unr•$trfetsd funds fund3 2023 2022 Net gain on disposal of tangible fixed assets Rents receivable 1,687 93,984 94,339 95,651 94,339 Expgndlture ¢)n ralslng funds Unre5trlcted Unrestrlcted funds funds 2023 2022 Fundralslng and publlcliy other fundraising costs Investment managernenl 90.701 11.537 102238 40,235 12,199 52,434 Expendlture on charltable a¢tiwties 2023 2022 staff Costs Depreciation and Impairment Maintèn8nc8 and upkeep of Park Upkeep of birds and animals Event costs Credit card transaction c08ts 613.038 144,955 189,290 80,962 5,837 54,610 506,709 13e,259 209,852 75,867 19.588 57,965 1,088,692 1.008,240 Share of support costs (see fiote 81 Share of govemanc8 costs {s88 not8 8) 555,358 77,689 457,829 48,337 1.721,739 1.S14,406 Analysls by fund Unrestricted funds Restricted funds 1.704.739 17,000 1.497.406 17,000 1,721,739 1,514.406 17-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Support costs Support Gov•rnan¢g costs osts 2023 Support Governoncg eosts C*Sts 2022 Staff costs Ratgs. watsr and insurance Light, heat and power ststionèry and printing T&l6phone arhd postag8 Travel and vehicle expens8S Web Development Audit fees L6981 and profèssional SLJndry Expense5 Trustee costs 2&1,050 32,466 230,504 9.375 9,575 8,165 11,223 254,050 32,466 230,504 9,375 9.575 8,165 11,223 15,972 38,725 14.041 1.756 200,794 56,022 166.698 6,484 8,278 7.41 f) 12.143 200,794 56,022 166,698 .484 8,278 7,410 12,143 12.720 19,779 14,041 1,797 15,972 38.725 21.236 1.756 12,720 19,779 14,041 1,797 555,358 Tf.689 e33.047 457,829 48,337 506,166 Analysed beeen Charitable activities 555.358 77,689 633.047 457,829 48,337 506,16 Goveman¢e costs Include5 paymen15 to th8 auditors of £13.550 (2022.. £12.8001 for audlt fees. Trustees None of the trustges lor any person5 connerted wilh them) received any remun8rAtion frorn the charity durfng the year. No oxpen8es were reimbursod tr) any trustèè during the year to 31 October 202312022.. £nill. Tiustees meeting exp9nses amounted to £30012022.. £341 I. 10 Employ&És The av8ragé monthly numbar of employees during the year was-. 2023 Number 2022 Numbar OtfiGe Shop Upkeep and Animal W6Ef8re Restaurant 20 18 Total 38 32 18-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Employmgnt ¢9st5 2023 2022 Wages and salarlgs Social seGurity Gosts Othèr pènsion costs 789.938 59,204 17,946 642.910 49.877 14,716 867,088 707.503 The number of employe whose annual remuneration was £60,000 or m<*8 W8re= 2023 Numbèr 2022 Numbor £60,000 to £70.QOO 11 Net galnslllosses) t)n Invèstmènts Unrestrlcted funds Unrgstrlcted funds 2023 2022 Gainslllossesl arising on.. Revaluation of inveslmgnts 1118,9291 170.3201 12 Intangible fixed assets Strat•qy Masterplan Cost At 1 November 2022 Additions 25.777 Al 31 October 2023 25.577 D•pr•clatlon and impairmènt At 1 November 2022 Amortisadon charged in the year 430 At $1 Othber 2023 430 Carrying amount At 31 OGtober 2023 25.347 At 31 October 2022 19-
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THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 14 Invgstmgnt property- Group and Charlty 2023 Falr valug At 1 Novernber 2022 RèvaSuation of tangible flxed assets 1,680,000 At 31 OGlobgr 2023 1,680,000 15 Ftxed •sset investments- Group and Charity Ll¥ted inv8$tments Cash In portfollo Totsl Cost or valuation At 1 November 2022 Additions Valuation changes Invèsttllènt Managers, Bank Accounts Disposals 1,598,826 653,455 1122,676} 83,8TI 1,682,703 653,455 1122.676) 1,396.214 1593,490) 1.396,214 1593.4901 Al 31 October 2023 1,536.115 1.480,091 3,016,206 Carrylng amount At 31 October 2023 1,536,115 1.480.091 3,016,206 Al 31 October 2022 1,598.826 83.877 1,682,703 Th8 Charity 8150 holds 1 Ordinary £1 share in its wholly i)wned Irdding subsidiary company. Bè818 Park Trading Company Ltd, which is incorporated in the UK. 16 Stocks 2023 Group 2022 Group Paront Parènt Shry Stock Restaurant Stock Birds and Animal Maintenanc& Stocks- Other 27,083 27,124 1,500 1.500 2.515 1,500 1,500 2.515 1,500 1.500 5,860 1,500 1,500 5.860 38,142 5,515 35.984 8,860 21
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 17 Dèlrtors 2023 Group 2022 Par8nt Group Parènt Amounts falling due w5thin one year: Trdde debtors Amounts 0d by subsidiary undertakings Othèr debtors Prepayments and accTu8d income 12.075 12.075 417,556 2.384 76.421 53,642 53,642 287,712 4,924 I,725 2,384 77,559 4.924 11Q,807 92,018 508,436 169,373 453,003 18 Credltors: amounts falling dug wlthln one year 2023 Par•nt 2022 Group Group Parent Notès Other laxalion and social sècurity Delerr¢d iricomg Tradè creditors Other creditors Accruals 30,472 19,520 164.398 164,398 148,735 113.374 9,905 6,847 86,623 86.623 20,367 209,357 130,119 25,902 85,387 15,264 209,357 111,125 23,522 85,387 19 440,133 390,762 471,132 444.655 19 Def&ed Ineomè 2023 Group 2022 Porent Group Parent other deferred income 164,398 164,398 209.357 209,357 20 R8str]rtgd funds The ffjstricted thnd5 of the charity comprise the unexpended balances of donations and grants héld on trust ubjeGt to specific conditions by donors as to how thay may b8 ttsed. Balan¢0 at 1 No¥etnbBr 2021 Resourcps Balance at I eApeThd Novombar RosouTCO5 Balance at $xpended 31 OctobeT 2023 2022 85,OCKJ 117,000} 68,000 117,0001 51,000 The r83tricted fvnds relate to a Ir)tal donation of £170,000 received from Thames Water for the purpose3 of an education prolect which was completed In 2016 and is being depreciatèd over a 18n-year period. -22-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 21 Unr8¥trfcted funds The unreslrtcted funds of the th8rlty 1mpriSe thg unexpendod balances of donations and grants which are not subject to specific conditions by donors and grantofs as to how they may be usèd. Thèse include designated funds which have bo¢n sgt aslde out of unrestricted funds by the trustees for specific purpttses. BalanGe at November Incomlng r8source8 ResourGg¥ gxp?nd8d Galn8 and Bafance at Lo8SV6 31 October 2023 2022 Gen•ral unrèstricted fvnds Revaluation reserve Fund retained In non-charilable subsidiary 7,708.956 1,841.650 11,806,977) (118.9291 7,624,700 299,375 299,375 51.160 283,143 1223.809> 110,494 8,059.491 2,124.793 (2.030,786} 1118.9291 8,034,569 Previous Year. Balance at i November InGomlng resources Resourcas èxpended Galns awl Los$88 Balance at 31 OGtobgr 2022 2021 Gèneral unrestricted funds Revaluation reserve Fund retained in noft-chaThtsble subsidiary 7,376.791 299.375 5,996 7,682,162 1.952,325 11,549,840) 170.320) 7,708,956 299,375 51,160 170,320} 8,059,491 155,144 1109,98JI 2.107,469 11.659,82QI 22 Analysls of n•t ass•t$ btytween funds Unreslrfcted fun Rostrlcttsd Tutal Unrasffictèd lunds R25trteted funds Tolal 2023 2023 2023 2022 2022 2022 Fund balances arn representod by.. Intangible fixed assets TangiLIlg as5815 Invsstment properties Investments Current assetsJ{Ilabllifjesl 25,347 2.820,267 1,680,000 3,016,2C 492,749 25,347 51,000 2,871,267 1.680,000 3.016,206 492,749 2,688,221 1,880,000 1,682,703 2,008.567 68,000 2,756,221 1,680,000 1,682,703 2,008,567 8.034,569 51,000 8,085,569 8,059,491 68,000 8,127.491 23 Operatlng laa$g commltments L8ssor At the reporting end date the charity had contracted with tenants for tha following minimum lease paymgnts.. 2023 2022 Within on8 year Between two and fiv8 yéars In over 5 years 45,000 195,000 15,000 240,000 -23-
THE CHILD BEALE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER2023 24 Remunèration of key management personnol The remungration of key management pèrsonnal is as folows. 2023 2022 Group Group Parent Parent Key Management personnel 92.184 92,184 109.491 109,491 2S Cash generatsd from op•ratlons 2023 2022 Group Parent Group Parent Surplus for the year 141,9221 171.2561 360.329 358.165 Adlustmènts for.. Investrnenl income recognIs in Et8tement of financial Loss on disposal of tangible fixed assets Fair valua galr>s and losses on investments Dopreciation and irnpairment of tangiblè fixed 08sets 169,724) 169,7241 11,667) {1,6671 118,929 118,929 152.933 144,955 135,0501 135.0501 70,320 70,320 142,480 138,259 Movements In wlxknng capitsl.. Decreasadllincr88ga} in stock lIncas8}ldrease in debtors In¢reaselldecreasel in credltors Increase in deferred ineome 12,158} 3.345 118,8491 28,147 155,433) 1161,9661 1163.5431 63,168 18.9341 104.291 15,806 {44,9591 144.9591 86,350 86,350 Cash generatsd froml{absorbed by) op•ratlans 202,747 15,256 547,905 470,307 26 Analysls of changes In net fund$ The charity had no d8bl during thg year. -24-