Company Registration No. Charity Number: 808329 305968 BOWLES ROCKS TRUST LIMITED (A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BOWLES ROCKS TRUST LIMITED CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Trustees, annual report 1-12 Notlce of annual general meeting 13 Independent auditors, report 14-16 Consolidated statement of financlal actlvlties 17 Consolidated balance sheet 18 Balance sheet 19 Consolidated statement of cash flows 20 Notes formlng part of the financial statements
BOWLES ROCKS TRUST LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Annual Report 2023124 2023124 was another strong year for the Bowles Rocks Trust, delivering on our aims as a charity, supporting young people to achieve their potential through high qualityoutdoor and experientia I learning. On all relevant metrics incl ud i ng rebooking rates, occupancy levels and feedback scores we performed well. With respect to finances, we were able to achieve our aims whilst managing our finances effectively, delivering a surplus of £IIOK to be reinvested in the work of the charity. Our safety record was once again very good as was our approach and commitment to safeguarding for young people across all our programmes. Activities undertaken to further the charity's objectives for the public beneflt The Trustees are aware of their responsibilities to ensure that the Trust carries out its aims for the public benefit and have referred to the Charity Commission's general guidance on this when reviewing plans and activities. Young people visit Bowles for outdoor and experiential learning courses, primarily on a residential basis. Research and personal experience tell us that whilst all outdoor learning is highly impactful, residential outdoor learning can have a particular deep and long lasting positive i m pact on participants, lives. During the financial year Bowles delivered, 20,996, student activity days. 2,551112%} of these activity days were for 754 children with impairments whilst 2,145 {10%) were for 625 disadvantaged young people. These figures were as reported by partner organisations, true figures are l ikely to be h igher. Bowles worked with 6,130 participants {18,388 activity days) with a school or group. 4,759 students115,406 activity days) came with their school 887 young people (1,790 activity days} visited with their youth and community groups and 48411,192 activity days) visited with other organisations. The majority of our work was with primary schools taking part on residential 3 or 5 day outdoor courses staying at Bowles Outdoor Centre which was busy all year. School leaders told us that they achieved a wide range of outcomes with amazing personal and organisational journeys. Some of the main outcomes which schools set out to achieve were: Resilience, Teamwork, Perseverance, Communication, Respect, Confidence, Self Esteem and Responsibility. On average score from 100 schools for achieving these aims was 9.6 out of 10. In additional to courses for schools/groups, Bowles also delivered 2,609 activity days for the wider public.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Financial Support and our trading subsidiary The Bowles Organlsation T80 The Bowles Rocks Trust has a trading subsidiary, The Bowles Organisation which covers recreational activities and adu It training courses; its objectives a re: l. to carry on trading activities for the benefit of Bowles Rocks Trust Limited, generating revenues of £446K during this fi nancial year; 2. to contribute to the personal development a nd effectiveness of individuals and teams in their working environment and 3. to provide opportunities for recreational participation in adventurous activities. Supporting Young People with Impairments Bowles is a charity for all young people. To ensure that Bowles is truly inclusive and reaches young people f rom all backgrounds and abilities we deploy a range of strategies. These include subsidised pricing, targeted f ina ncial support, add itional staff ing, adapted facilities, adapted activities, flexible activity programmes, outreach staff training and a personal and bespoke approach to bookings and customer care. Flnanclal supportlbursarleslstructured prlcln8 Bowles subsidises prices for targeted groups at various times throughout the year so that price is not a barrier to participation, We used the surplus from our trading subsidiary Isee above) plus a contribution from our peak season courses to subsidise our work with disadvantaged children, groups and those needing additional support. Winter Explorer courses: In 2023124 Bowles provided subsidies to the value of £83K to 846 children on our Winter Explorer Courses. The winter season is a Ereat time to visit Bowles due to our winter sports, indoor heated pool and quality accommodation however many schools prefer to visit in the summer. We utilise the high demand f rom the peak season to help subsidise schools from more disadvantaged areas to access a course at Bowles. 90Yo of schools visiting during th is targeted period had a higher than nationa l average number of students receiving f ree school meals or with English as a second language. Structured pricing also has an impact in November and December, when schools from disadvantaged areas made u p approximately 70% of the schools visiting. bringing 500 students. I n addition to our Winter Explorer courses Bowles offered bursaries and support to: Nova, children and young people's project a Tunbridge Wells charity dedicated to improving the lives of chi Idren with severe learning diff iculties, giving famil ies a break from caring roles. We are Beams- a North Kent charity aiming to support children with physical and learning impairments, helping them become more independent and have more control of their lives, They have become regu lar visitors to Bowles over the past few years.
BOWLES ROCKS TRUST LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 AIM is a Tunbridge Wells charity who work with disadvantaged children to provide f ree tuition and support through the Il+ process to ensure a more level playing field. They come to Bowles to increase the confidence and life skills of each cohort at the start of their learning journey, and again at the end after the exam as a reward for their work. Disability Snowsports U K are long term users of Bowles skiing facilities. Their volunteers give people with physical impairments from across the south- east, snowsports experiences both here and aboard. Bowles supports children and young people from all background5 and with additional needs by providing additional staff and support to children requiring l-l or increased staff ratios at no additional c05t. Groups receiving additional staffing included..CASPA. Grapevine and AFASIC, Eastgate Youth, Grove Park School, East Sussex Placement Services, Skylark, Birtley House, Blossom House, Moor House. and Abbey Court. We also worked with IMAGO, HAF for E35t Sussex, Rotary and Lambeth Police cadets as well as lot of other uniformed organisation groups. Additlonal needs and anxlety Many children who have anxiety or additional needs require support to attend a residential course at Bowles - they risk missing out on the benefits of a course at Bowles and thereby increaslng the gap between their development and that of their peers. As well as one to one support, we i ncreasingly or8anise pre-visits to the centre or visits to schools, breaking down barriers to these ch ildren attendin8 and turning reluctance and anxiety into excitement and anticipation. These visits have made a significant difference to some of the most vulnerable children. Awell planned and carlng organlsatlon Bowles maximises outcomes to reach include and meet the needs of all young people in innumerable ways. some large, some small. Some examples are below: We train our staff to understand and support children from all backgrounds and of all abilities. Training includes everything from SEN to first aid and from skiing to positive handling - our staff need to be ready to help everyone. "the trip was omozing ond very beneficiol. Stoff were completely understondlng of ourpupils. fhey were font05tic ond were li5tenlng to our pupi15 needs and con5tontly odju5tedfor them. So, thank you so muchl" Blossom House Bowles has a culture of nurturing and caring. Our catering and housekeeping team are key to this, monitoring and ensuring that all children eat well and have the energy they need including three home cooked meals per day and access to fruit throughout the day. We ensure children sit tO8ether for their meals experiencing a family culture that not all children experience at home. We spend a huge amount of time and effort meeting children's sometimes complex dietary needs for both medical and other reasons to ensure they can full participate. We provide beddin8, waterproofs, wellies and all equipment so that no one has io worry and all children can participate and feel included. We are committed to real outdoor experiences and challenging adventure - Bowles mainta ins minibuses to take children to beautiful places for adventurous experiences.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Our facilities, activities and courses are designed to be inclusive and flexible. We introduce new activities and constantly improve others to adapt to children's changing needs. Our learning journal is ambitious and engaging and provides a brilliant way to engage and record memories and experiences at Bowles. Case Study In November. Bowles ran a residential course for a school which had never been on a residential before. The particular school faced additional challenges due to a large nu mber of students from the traveller com munity, many of whom would not stay overnight l This, combined with the f inancial challenge, had made it impossible to find an outdooreducation centre willing to accommodate their booking. Our dedicated team not only organ ised a comprehensive program that included both residential and day options but also offered reduced pricing options for the participating students. By doing so, Bowles helped to overcome the barriers faced by the school, enabling them to provide educational and outdoor opportunities for their students who previously had limited access to such experiences.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 This report complies with the requirements of the Charily Commission Statement of Recommended Practice (SORPI. It also forms a Direclors, Report which complies with Companies Act requirements. Bowles Rocks Trust Limited is a registered charity, registration number 305968. It is a company limited by guarantee and is registered in England and Wales, company number 808329. The governing document of the Trust is its memorandum and articles of association. Our President, Patrons and Adviser to the Trustees do not carry responsibility as charity trustees or as company directors. Trustees are, however, both charity trustees and the company directors of the Trust. Trustees may be elected at general meetings by the members of the Trust. Trustees may also appoint a Trustee at a Trustees. meeting but, in this case, the Trustee must retire at the next annual general meeting and stand for re- election. Those who served in one of the above capacities during the year are as follows.. Chalrman Peter Wilson Trustees Peter Wilson Mike Darbyshire Alan Gardner Helen Ogden {resigned 8th November 23) Catherine Gallagher Mick Bradshaw Rosalind Stokeld James Holden Neil Diddams {resigned 6th November 23) Melanie Karunaratne Kevin McDougall (appointed 12 May 231 Advlser to the Trustees Stephen Horscrofl At the Annual General Meeting in 2024, James Holden, Melanie Karunaralne and Kevin MacDougall, will retire by rotation in line with our Articles of Associalion. Once elected, Trustees are expected to act as indiviéuals in the interesls of the Trust. However, initial nomination as advisory members will often be through one of the organisations that are relevant to our work. The following carry these organisational or special interests.. Mike Darbyshire Stephen Horscrofl Treasurer Legal adviser
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Director of the Centre Richard Hardwick Company Secretary There are no specific restrictions imposed by th& governing document on the way the charity can operate. The Bowles Organisation Limited is a wholly owned subsidiary of Bowles Rocks Trust Limited. It is a private company limited by shares and is registered in England and Wales. registration number 2569701. The governing document of the company is its memorandum and articles of association. One hundred shares have been issued, It is a single member company, all shares being owned by Bowles Rocks Trust Limited. Directors are as follows.. Richard Hardwick Directors Peter Wilson (Chairman) Richard Hardwick Company Secretary Richard Hardwick 80lli companies trade under the common identity "Bowles" The following details are common lo both.. Prin¢lpal offlce and reglstered offlce Bowles Sar)dhill Lane Eridge Green Tunbridge Wells TN3 9LW Independent audltor Kreston Reeves LLP Slalutory Auditor Chartered Accounlanls Monlague Place Quayside Chatham Maritime Kent ME4 4QU Bankers Nalwesl Bank 130 High Slfeet Tonbridge Kent TN91DE In addition, the charity banks with.. Charities Aid Foundalion CAF Bank Ltd Kings Hill Kent ME19 4TA Aldermore Bank PIC 1 sl Floor, Block B Western House Lynch Wood Peterborough PE2 6FZ
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also directors of the charity for the purposes of the Companies Acll present their Annual Report together with the audited Financial Slalements of Bowles Rocks Trust Limited (the company) for the year ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company comply wilh the current slatulory requirements, the requirements of Ihe company's governing document and the provisions of the Statement of Recommended Practice ISORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. Oblectlves and aotivitie8 a. Pollcles and objectlves The Trust's primary aim is to provide educational courses open to a11 young people, using adventurous activities lo onlribule towards their personal and social development. Beneficiaries of this seNice include pupils in mainstream primary and secondary schools, trainee teachers, youth groups and a wide variety of social organisations. Benefits for most parlicipanls involve the development of personal qualities such as self-confidence. awareness of others and responsibility. A secondary aim is lo target that service towards young people wilh specific needs. including those who, wilhoul support, would not be able lo afford the experience. Two categories of need have currently been identified.. young people with disabilities and disadvantaged young people. Outcomes are exactly the same as on our mainstream courses but, in many cases, an increase in seSf-esleem will have potentially greater benefits, Many of these courses are supported by bursaries. All young people's courses re¢eive a subsidy from The Bowles Organisalion Ltd. b. Maln actlvltles undertaken to further the charlty's purposes for the publlc beneflt The objectives of the Trust are lo benefit the public by contributing lo the educalional and social development of young people up lo the age of twenly-five, particularly through the experience of adventurous aclivilies. In order lo achieve those objeclives. il runs courses open lo Ihe public, involving adventurous aclivilies, both on a residential and a non- residential basis. The objeclives of the subsidiary are to contribute lo the personal development of individuals and to the effectiveness of individuals and teams in their working environment, to provide opportunities for recrealional participation in adventurous activities and lo carry on Irading activities for the benefit of Bowles Rocks Trust Limited. The Trustees are aware of their responsibilities to ensure that the Trust carries out its aims for the public benefit and have referred lo the Charity Commission's general guidance on this when reviewing plans and aclivilies. Our educalion81 courses help participants lo develop self-confidence, awareness of others and responsibility, with the knowledge that such development has a lastin9 impact on young people back in their everyday life. To this end. groups of young people take part in challenging outdoor activities, something which is increasingly recognised as an important part of young people's development by organisalions such as OFSTED and NFER and by the Learning Oulside the Classroom initiative.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 b. Maln actlvlties undertaken to further the charlty's purposes for the public benefit (continued) Bowles. courses also benefit the public by introducing a range of healthy activities to many young people who have little or no opportunily to experience them otherwise. To ensure that no-one is excluded from participation, all edLJcational courses for young people are al subsidised rates. This is partly achieved through funds generated by the subsidiary's activities of personal and team development courses for adults. In addition, bursary supported. largeled courses for young people with disabilities or from disadvantaged backgrounds allow us to ensure that people who could otherwise not afford the experience are not excluded from the opportunity to benefit. The statislics on the following page give an idea of the scale of the contribution Ihal the Trust makes to public benefit in these ways. Achlevements and performance a. Key financlal performance Indicators Our key performance indicators are summarised in the table below. Outcome 2024 Target Outcome 2024 2023 Target 2023 Surplus as a % of Turnover O.OO/o 3.0°/0 0.0% Salaries as a % of Turnover 59.2 /0 61.0% b. Review of activities Details of courses run during th8 year Number of courses 2024 101 Number of students 2024 4.424 105 215 Numberof student days 2024 15,047 288 893 Residential courses - over Iwo days Schools Other groups of young people Supervisory and management staff 2023 72 2023 3,182 246 275 2023 11,582 482 1,152 19 25 124 108 4,744 3,703 16,228 13,216 Non Residential courses Schools Other groups of young people Supervisory and management staff 14 34 13 61 335 782 269 1,386 558 210 320 1,088 359 1,502 299 2,160 594 210 320 1,124 19 42
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Detalls of courses run during the year (continued) Numberof student days 2024 2023 Other Non-residenlial courses Ski courses open to the public Holiday courses open to the public Private lessons Birthday parties & family groups 683 1373 134 418 2,608 593 1329 135 418 2,475 Total number of student days The centre reopened to residenlials in June 2022 as restrictions were lifted which ran alongside family party groups and holiday courses. Included in the 8bove figiires are the following.. Student days for disadvantaged young people Student days for young people with disabilities Type of slud8nt School children Supervisory and management staff 2145 2551 1927 558 920/0 6% 'Dis8bilito$ now Include SEN c. Flnanclal, soclal and envlronmental objectives Total income has increased this year compared to last year, £1,825,384 (2023- £1,552,288} and Ihe expenditure has increased in line, tolalling £1,714,396 (2023 £1,505,682) leaving a surplus of £110,55012023 - £46,604) at year end. A proportion of the income was due lo grants and donations throughout the year. Social objectives were expressed partly in terms of the participant throughout reported on page 8, which have been affected increased compared lo last year as the world returns to pre pandemic behaviour. It is of course impossible to communicate fully here the huge impacl our outdoor and residenlial experiences have had on young people in developmental terms, they gained enormously in terms of self- confidence, maturity and other personal qualities. Following a previous energy audit that was commissioned to identify the areas across the centre that could be improved, we have started lo undertake some of the suggestions that were made to gradually reduce our energy consumption which in turn will reduce costs and our impact on the environment. Solar panels and air source heal pumps have been installed post balance sheet.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal review a. Review of the year 11 is a credit to the efforts of everyone at Bowles to report a surplus of £124,270 on the unrestricted fund offset by a deficit of £13.722 on the restricled fund. The nel surplus represents 6. 3 % of turnover and has resulted in a increase of resetves available for carry forward of £2,423,446 as shown on the Statement of Financial Aclivilies. Most of the assets of the charity are held in the form of land and buildings. There is no requirement lo realise those assels in order to maintain the ongoing viability of the Trust. We are very grateful to the following for donations made during the year.. (11 Individual donations.. Mr Mike Darbyshire The Edinburgh Trust Felicity Hayes Eileen Welch - Marathon runner Some of these donations were put towards bursaries for disadvantaged young people and young people with disabilities. The Bowles Rocks Trust Ltd was awarded a £10,000 grant by Locase during the year for a contribution towards ASHP and Solar Panels. This was recognised as income on receipt per SORP 5.27, as there were no conditions upon the grant. b. Golng concern After making appropriate enquiries, the trustees have a reasonable expectation Ihal the charity has adequate resources to continue in operational existence for the foreseeable future For this reason, they continue to adopt the going concern basis in preparing the Financial Statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. c. Reserves pollcy The Iruslees aim to maintain free reserves in unrestricted funds at a level which equates to three months of salaries costs {laken as three months of the annual salaries expenditure). The balance held as unrestricted funds al 31st March 2024 was £1,739,786, of which £398,585 are regarded as free reserves, after allowing for funds tied up in tangible fixed assets, Three month salaries payments tolalled £265,734 for 2024. 10
BOWLES ROCKS TRUST LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management a. Governing document Trustees have formed a Governance Committee which has produced a Governance Document and is responsible for keeping governance policy and processes under review. The Governance Document gives details of the terms of reference and accountability of committees, arrangements for recruitment and appointment of new Trustees and arrangements for induction and training of Trustees. It clarifies the boundaries between governance and management, summarises the respective roles of Trustees, Chairman and Director and lays down principles to ensure that decision making takes place al the appropriate level. b. Method of appolnlment or electlon of Trustees The body of Trustees reviews its make up from lime lo time and, if necessary, recruits new Trustees, in order to achieve a balanced range of relevant skills and experience. Potential Trustees are normally appointed by existing Trustees and then retire at the next annual general meeting, when they must seek re-election. There is a documented induction process and a commitment lo support training, which would enable Trustees to carry out their role more effectively. During 2024 two Trustees resigned. c. Pay policy for senlor staff Bowles maintains a pay scale with grades, increments and with weighting for differing working patterns, this is reviewed and updated with any annual salary changes on the 1st Oct. Any changes will normally be based on.. movements in market rates, Bowles, performance and any constraints applied by the Trustees. d. Organlsatlonal structure and declslon making There is a clear recognition that governance is the responsibilrty of Trustees and management is the responsibility of staff. There is a list of lypes of decision with an agreed statement of whether each decision should be taken by Trustees or by staff or be a shared responsibility. In summary, policy is set by Trustees, who meet quarterly to monitor in detail the activity of the centre and its financial silualion. They also meet with all the staff from time to time, particularly in the development planning context Day to day management of the charity is delegated lo the Director ol the centre who implements the policy of the Trustees through the paid staff of the centre, The annual budget is approved by the Trustees at the start of each financial year. The charity and its subsidiary are administered from the same off ice but at arms length as far as their activities are concerned. The subsidiary pays to the Trust an annual licence fee and, in addition, pays a proportion of the expenses of the Trust, calculaled on the proportion of the staff lime usecl. At the end of the year, the subsidiary donates, under corporale gift aid, the whole of its profit lo the Trust. e. Related party relationships Apart from the relationship with its subsidiary, there are no related parties or other organisalions with which the Trust co-operates in pursuit of its charitable objectives. f. Risk management The Trustees have carried out a review of Ihe major risks to which the charity is exposed are satisfied with the systems in place to manage those risks.
BOWLES ROCKS TRUST LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees, responsibilities statement The Trustees (who are also direclors of Bowles Rocks Trust Limited for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounling policies and then apply them consislently,, observe the melhods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent,, prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accoLJnting records Ihal are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of Information to auditor Each of the persons who are Truslees al the time when this Trustees, report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the company's auditor is unaware, and each Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the company's auditor in connection with preparing ils report and to establish that the company's auditor is aware of that information. This report was approved by the Trustees on ts /// /J y and signed on their behalf by.. Peter Wilson, Chair Trustee 12
BOWLES ROCKS TRUST LIMITED NOTICE OF THE ANNUAL GENERAL MEETING FOR THE YEAR ENDED 31 MARCH 2024 Notice is hereby given that the 56th annual general meeting will be held on 8 November 2024 for the following purposes.. To receive and adopt the accounts for the year ended 31 March 2024 together with the Twstees, report and the report of the auditors thereon., To re-elect the following Trustees who have retired and offer themselves for re-election.. Kevin McDougall, James Holden and Melanie Katunaratne. To appoint Kreston Reeves LLP as auditors to the company and to authorise the trustees lo determine their remuneration., To transact any olher ordinary business of an annual general meeting. On behalf of the Trustees Richard Hardwick Company Secretary Reglstered office: Bowles Sandhill Lane Eridge Green Tunbridge Wells TN3 9LW 13
BOWLES ROCKS TRUST LIMITED INDEPENDENT AUDITORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 We have audited the financial statements of Bowles Rocks Trust Limited (the 'parent charity,) and ils subsidiaries {the 'group') for the year ended 31 March 2024 set out on page 1710 31. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group's and of the parent charitable company's affairs as al 31 March 2024 and of the group's incoming resources and application of resources, including its in¢ome and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2008. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. Vve are independent of the group in accordan with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Vve believe that the audit evidents we have obtained is sufficient and appropriate to provide a basis for our Us8 of our report This report is made solely lo the charitable company's members, as a body, in a¢¢ordance with Chapter 3 of Part 16 of the Companies A¢1 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required lo stale to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for Ihis report, or for the opinions we have formed. Conclusions relatlng to golng concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us lo report to you where.. the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate,, or • the Trustees have nol disclosed in the finan¢ial statements any identified material uncertainlies that may cast significant doubt aboul the group's or the parent charitable company's ability lo continue to adopt the going concern basis of accounting for a period of at least e1ve months from the dale when the financial statements are authorised for issue. 14
BOWLES ROCKS TRUST LIMITED INDEPENDENT AUDITORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Continued Other information The Trustees are responsible for the other information, The other information comprises the information included in the Annual report, olher than the financial statements and our Auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial stalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wilh the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsislencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statemenls or a material misstalemenl of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, report including the Group strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, report and the Group strategic report have been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report including the Group strategic report. We have nothing to report in respect of the following matters in relalion to which the Companies Act 2006 requires us to report to you if, in our opinion.. the parent charity has nol kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us., or the parent charity financial statements are nol in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. 15
BOWLES ROCKS TRUST LIMITED INDEPENDENT AUDITORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Continued Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the group's and the parent charitable companls ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A fLSrther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.org.uklauditorsresponsibilities. This description forms part of our Auditor's report, James Peach Bsc FCA for and on behalf of Kreston Reeves LLP Chartered Accountants Slalutory Auditor Chatham Maritime Dale: 14 November 2024 16
BOWLES ROCKS TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Notes Income from: Donations and legacies Other trading activities Charitable activities Investments Other 2,962 446,271 1,305,081 41,864 29,206 2,962 4,960 446,271 496,063 1,305.081 1,026.803 41,864 7,258 29,206 17,202 Total Income 1,825,384 1,825,384 1,552,286 Expendlture on: Raising funds Charitable activities 425,633 1,275,479 425,633 396,541 13,722 1,289,201 1,109,141 Total expendlture 1,701,112 13,722 1,714,834 1,505,682 Net Incomellexpendlture) for the year before transfers 124,272 {13,722) 110,550 46,604 Gross transfers beeen funds Net movement In funds 124,272 1,615,516 {13,722) 46,604 697,246 2,312,762 2,266,158 110,550 Fund balances brought forward at 1 April 2023 Fund balances carried forward at 31 March 2024 1,739,788 683.524 2,423,312 2,312,762 All activities relate to continuing operations. The notes on pages 21 to 31 fomi part of these financial statements. 17
BOWLES ROCKS TRUST LIMITED CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 Fixod assets Tangible assets 1,579,402 1,618,687 Current assets Stocks Debtors Cash al bank and in hand 11 12 21,432 132,039 1,362,044 1,515,515 20,373 109,988 1,087,885 1,218.246 Creditors: amounts falling due within one year 13 671,605 524,171 Net current (liabilitiesllassets 843,910 694,075 Net assets 2,423,312 2,312,762 Funds Unrestricted funds Reslricled funds 1,739,788 683,524 1,615,516 697,246 Total funds Company Registr8tion Number,, 808329 The Trustees consider that the company is entitled lo exemption from the requiiernent lo have an audit under the provisions of section 477 of the Companies Act 20061"the Act") and members have not required the company lo obtain an audil for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 145 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying With the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved by the Trustees on 14 2,423,312 2,312,762 l•/d9 and signed on their behalf, Trustee Peter Wilson Trustee Mike Darbyshire The notes on pages 21 to 31 form part of these financial stalemenls. 18
BOWLES ROCKS TRUST LIMITED BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 Flxed assets Tangible assets Inveslmenl in subsidiary 1,579,402 100 1,618,687 100 1,579.502 1,618,787 Current assets Stocks Debtors Cash al bank and in hand 11 12 21.432 667,187 868,796 20,375 1,074.381 205,452 1,557,415 1,300,208 Creditors.. amounts falllng due withln one year 13 610,414 468,403 Net current Iliabilitiesllassets 947,001 831,805 Net assets 2,526,503 2,450,592 Funds Unreslricled funds Reslricled funds 1,842,979 683,524 1,753.346 697,246 Total funds 2.526,503 2,450,592 Company Registration Number.. 808329 The Trustees Consider that Ihe company is enlilled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 20061"Ihe Act") and rnembers have not required the company lo obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 145 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requiremenls of the Act with respect to accounting records and the preparation of financial slalements. The financial statements were approved by the Trustees on I lill 2q and signed on their behalf, by.. Trustee Peler Wilson Trustee Mike Darbyshire The noles on pages 21 to 31 form parl of these financial slalements. 19
BOWLES ROCKS TRUST LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 Net cash used in operating actlvities 22 290,583 214,500 Cash flows from Investing activities Interest and dividends Purchase of tangible fixed assets Disposal proceeds Cash provlded by (used in) investlng activities 41,864 158,822) 9,467 26,425 7,258 177,788) 70,530 Cash flows from financlng activltles Borrowing Government Grant received Cash used in f inancing activltles 1228,6671 10,000 10,000 228,667 Increase in cash and cash equivalents in the year 274,159 84,697 Cash and cash equivalents al the beginning of the year 1,087,885 1,172,582 Total cash and cash equlvalents at the end of the year 1,362,044 1,087,885 20
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l Accountlng poll¢lè8 1.1 Basls of proparation of financlal 8tat¢m•nt8 The firiancial slalemenls have been prepared in accordance with Accounting and Reporiing by Charilies.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 JanLJ3ry 20191- Icharilies SORP IFRS 10211, Ihe Financial Reporiing Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. 80eS Rocks Trust Limited meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cog1 or transaction value unless oiherwse slated in the relevant accounting policy. 1.2 Basls of consolldatlon The Slalemenl ol financial aclivilies ISOFAI and Balance sheet consolidate the financial slalemenls of the eharily and ils subsidiary undertaking. The results ol the subsidiary are consolidaled on a line by line basis. No separate SOFA has been presented for Ihe charity alone as permilled by 8eclion 408 01 the Companies Act 2006, 1.3 Golng con¢9rn The financial slalernenls have been prepared on a going concern basis as the Trustees believe that no material uncertainlies exist. The Trustees have considered the level of funds held and the expected level ol income and expendilure for Iwelve months from aulhorising these financial slalemenls. The budgeted incorne and expendilure is suffieienl, wlh the charily's reseNes, lor the charity lo be able lo continue as a going concern. 1.4 Company slatU8 The charity is a company limited by guarantee. The members of the company are the Truslees named on page 5. In Ihe event of the charity being Und up, Ihe liability in respecl of the guarantee is limited lo £10 per mernbef of the charity. 1.5 Fund accountlng General fundg are unreslricled funds which are available lor use al the discretion ol the Trustees in lurtherance of the general objectives of the chafily and 1¢h have not been designated lor other purposes. Reslricled funds are funds s¥hich 8ie lo be used in aceordance wlh specific reslriclions Imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and adminisleiing such funds a charged against Ihe sperific lund. The aim and use ol each reslrided fund is sel out in the notes lo the financial slalemenls. 1.6 Income All income is recognised once the charity has enlillernenl lo the incom8, il Is probable that the income VAII be reiVed and the amount ol income receivable can be measured reliably. Income is slated after discounts and nel of value added lax. 1.7 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo make payment lo a Ihirij party, il is probable Ihal selllemenl wll be required and the amtsunl of the obligation can be measured reliabty, All expenditure is accounted for on an accruals basi5. All expenses induding support costs and governance costs are allocated lo Ihe applicable expenditure headings. Fundiaising costs are Ihose incurred in seekin9 volunlary conlribulions and do not indude the cosls of disseminaling information in support ol the charitable aclivilies. Suppotl costs are those costs incurred directly in 5UPPOrt of expenditure on Ihe objects of the chaiity and include projed rpanagetnenl. 21
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Aceounting policies I Continuod I 1.8 Tangible fixed assets and depreciation Tangible fixed assets are slated at cosl less depreciation. Depreciation is provided al rates calculated lo write off the cost ol fixed assets, less their eslimaled residual value, over their expected useful lives on the following bases.. Freehold property Land {Cosl £21,357) Buildings owned at 31 March 1979 Over the eslimaled residual life of 55 years from 1 April 1978 Over the eslimaled lifetime of 40 year$ from 1 April in the year of purchase Over the eslimaled1ifelime ¢175 years from 1 April in Ihe year of purchase Over the estimated lifetime of 27 years from 1 April in the year of purchase 12.50A per annum on cost Minor bLJildings added since 1 April 1979 Major buildings added since 1 April 1979 Wot1(s carried out on the Oireclof's house Furnltura, flxtures and fittlngs rralnlng equlpment Ski slope earthworks Ski slope matting 12.50kn per annum on ¢o$t Other items 250/0 pei annum on cost Motor vèhleles 200/0 per annum on cost Plant and machlnery 12.50/0 per annum on cost Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated lo a¢tivitie$ on Ihe basis ol the uso of the related assets in those aclivilies. Assets are reviewed lor impairment if circumstances indicate their carrying value may exceed their nel realisable value. 1.9 Stocks Stocks are valued al the lower of cost and nel realisable value after rnaking due allowance for obsolete and slow-moving slocks, Cost in¢lude$ all direct costs and an appropriate proportion ol fixed and variable overheads. 1.10 Leaglng and hire purcha$• Assets purchased under finance leases are capilalised as fixed assets. Where material, obligations under such agreements are included in creditors. The difference between the ¢apilalised ¢osl and the total obligation under the lease represents Ihe finan charge. Finance ¢harges are written off lo the SOFA over the period ol the lease $0 as to produce a constant peiiodic rale of Charge. 1.1 I Pon$ion The company operates a defined contribution pension scheme and Ihe pensK)n charge represents the amounts payable by the company lo the fund in respect ol the year. 1.12 Debtors Trade and other debtors are fecognised al the selllemenl amount after any trade discount offered. Prepayments are valued al the amount repaid nel of any trade discounts due. 1.13 Cash at bank and in hand Cash al bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening ol the deposit 01 similar account. 1.14 Creditors and provisions Creditors and provisions are recognised where the company has 8 present obligation resulting from a past event Ihal will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or eslimaled reliably. Creditors and provisions are normally recognised al their selllemenl amount after allowing for any trade discounts due. 22
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Accounting policles I Continued I 1.15 Flnanclal Instrumgnts The company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement valu& with the exception of bank loans which are subsequently measured al amortised cost using the effective inleresl method. 2 Judgements In applylng accountSng pollclgs and key ¥ourcgs of estlmatlon uncgrtalnty The preparation of the financial slalemenls requires the Trustees lo make judgements, eslimales and assumptions that can affect the amounts reported foi assets and liabilities. and the results lor the year. The nature of eslimalion is such though that actual outcomes could differ signilicanlly from those eslimales. Tanglble flxed asset8 The charity has re¢ogni$¢d tangible lixed assets with a carrying value of £1.579.402 al Ihe reporting dale (see note 8). These assets are slated al their eosl less provision for depreeialion and impairment. For material assets such as land and buildings thè charity delefmines al aequisilion reliable eslimales for th8 Useful life ol the asset, ils residual value and decommissioning eosls. Thesè eslimales arè based upon such factors as th8 expected use of the acquired asset and market eondilions. Al subsequent reporting dal¢s the Trustees consider whglher there aro any factors that indicate a nèed lo reconsider the eslirnales used. 3 Net Income from th& tradlng a¢tlvltles of Thè Bowles Organlsatlon Llmltèd The Company donates, under corpofale gift aid, ils taxable profil lo the Trusl and a sumrnary of ils trading results is shown below, together with the charity's own results for the year, lo distinguish them from the group fesulls. Audited accounts ol the Company have been filed with the Registrar of Companies. Subsldlary 2024 2023 Charlly 2024 2023 Income from activities Charitable Course fees Corporate course lees Recreational course fees Other income frtsm use of facilities LicÈnee fees Charged by Bowles Rocks Trust Limited Apportioned costs recharged by Bowles Rocks Trust Limited 1.305,081 1,026,803 242,382 139,246 64,643 285,135 158,105 52,823 125,0001 {25,0001 25,000 25.000 1407.9051 1382,5361 Gro¥s profit.. subsldiary Adminislralive expenses Other income 13,366 14,0441 25,315 88,527 13.5361 3,749 48,717 25,670 Nel profit for Ihe year.. subsldiary Amount donated under corporate gift aid to Bowles Rocks Trust Limited 34,637 88,739 Gross Incoming resources.. charity 34.637 88,739 1,378.798 1,077,473 Costs ol generating funds Costs of chafilable activities 113,684) 110.4671 11,289,201> {1,109,1411 Nel incomellexpendilurel 34,637 88,739 75,913 {42,1351 23
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4 Net movemènt In funds - net income for tho yoar 2024 2023 This is slated after charging.. Depreciation of tangible fixed assets Auditors, remuneration 97.574 9,732 87,723 6.041 During the year. no Trustees received any remuneration (2023 - £Nil). During the year, no Trustees received any benefits in kind (2023 - £Nil). The Trustees were not paid but travel expenses of £Nil {2023.' £N IL) in lolal were reimbursed to nil12023'. NIL) 5 Resources expended Costs of Cost8 of Costs Costs of Generating Anclllary Incurred by Charitable Voluntary Tradlng Trading Actlvltl8S Income SubsldSary Total 2024 Total 2023 Training salaries L&D Salaries Other training costs Catering and maintenan salaries Other calering and maintenance costs Administration salaries Other administrative costs Irrecoverable VAT Bad debt Depreciation Bursary fees Bar salaries Shoplbarlvending costs Auditors, remuneration Audit services 75,676 109,269 9,129 311,608 387.284 109,269 39,645 380,040 92,057 37,927 30,516 60,668 249,808 310,476 263,614 63.778 38,035 46,147 9,247 262,613 156,613 136,192 34,544 326,391 194,648 182,339 43,791 237,572 182,590 168,918 38,736 97,574 97,574 87,719 13,684 13,684 10,468 9,732 9,732 6,041 13,684 411.949 1,289,201 1,714,834 1,505,682 24
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6 Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 901,418 65,877 34,383 830,337 55,588 32,376 1,001.678 918,301 The average monthly number of employees was.. 48 (2023.. 42) and the average monthly number of employees during the year expressed as full lime equivalents was as follows {including casual and part- time staff).. 2024 2023 Training Full lime Seasonal - Part time Full time Part lime Full time Part time Full lime - Part lime Full time Part time 10.7 Administration Learning & Development Maintenance Catering 32.4 32.4 The number of employees whose employee benefits (excluding employer pension cosls) exceeded £60,000 was.. 2024 2023 In the band £60.001 £70,000 The total employment benefits including employer pension contributions of the key management personnel were £268,337 {2023.. £248,538}. 7 Interest payable 2024 2023 On bank loans and overdrafts 2,100 25
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BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9 Investments The charity holds 100 Ordinary £1 shares in its wholly owned subsidiary company The Bowles Organisalion Limited which is incorporated in England. The activities and results of this company ale summarised in note 3. 10 Taxatlon Bowles Rocks Trust Limited is a registered charity. Based on these financial statements there is no liability lo corporation lax or income tax up lo 31 March 2024. 11 Stocks 2024 2023 Group Trust Group Trust Goods for resale 21,432 21,432 20.373 20,373 12 Debtors 2024 2023 Group Trust Group Trust Amounts due from subsidiary Trade debtors Prepayments and accrued income 580,468 16,422 70,297 998,396 31,693 44,292 37,976 94,063 65,701 44.287 132,039 667,187 109,988 1,074,380 13 Creditors: amounts falling due within one year 2024 2023 Group Trust Group Trust Trade creditors Tax and social security costs Other creditors Accruals and deferred income 58,729 32,233 9,820 570,823 58,729 29,125 925 521,635 36.007 42.807 5,562 439,795 36,007 37,673 5.561 389,161 671,605 610,414 524,171 468,402 Group Trust Deferred income Deferred income al 1 April 2023 Resources deferred during the year Amounts released from previoLJS years Deferred income al 31 March 2024 407.482 512,877 1407,482) 357,576 460,671 (357,576) 512,877 460,671 Income is deferred as courses are booked and paid for in advance. 28
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 Statement of funds Ststsment of fund$ . current yoar Brought forward Incomlng rgsourcès Ra8ource8 exp&ndgd Transfer$ Inlout Carrled forward Do$lgnated Funds Building Projects Replacement vehicles Deposits in advance 399,000 30,000 407,482 836,482 399.000 30,000 512,877 941,877 105,395 105,395 General fund8 General fund 779,034 1.825,384 11,701.1121 1105.3951 797.911 1,615,516 1,825.384 1,701,112 1,739,788 Re¥tri¢ted funds Fixed a$sel fund Bursary fund 695,518 1.728 113,7221 681,796 1,728 697,246 13,722 683.524 2,312,762 1,825,384 1,714.834 2,423,312 Restricted funds are comprlsod a8 follow8 The ieslricled fixed asset funds are mainly comprised of freehold property, and account for £673,944 01 the lolal12023'. £687,666>,. these represent buildings that are owned by The Bowles Rocks Trust and were ¢onslrucled or renovated using reslricled donations. The remainder ol the fixed asset fund 1$ training equipment with a value of £7.85412023'. £7,854) which represent the cost of the earthworks that were done using restricted donations lo create our ski slopes. The reslricled bursary fund lolalled £1,728 al the end of year, this fund is held lo help Bowles target our service towards young people with specific needs, in particular young people with disabilities and disadvantaged young people, who wilhoul additional help may not be able lo alford our course5. The funds are comprised of reslri¢led donalions from individuals and companies. 29
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 Statement of funds Icont.) Statement of funds - prior ygar Brought forward Incoming resources Resources expended Transfers Inlout Carried forward Designated Funds Building Projects Replacement vehicles Deposits in advance 350,000 20,000 320.787 690,787 49.000 10,000 86,695 145,695 399,000 30,000 407.482 836,482 General funds General fund 864,403 1,552,286 11,491,960) 1145,6951 779,034 1.555,190 1 552,286 1 491 960 1.615,516 Restrlcted funds Fixed asset fund Bursary fund 709,240 1,728 {13,7221 695,518 1,728 710,968 13.722 697,246 2.266,158 1,552,286 1505,682 2,312,762 15 Analysis of group not a$so1s betr4een fund8 Analysls of group net a889ts betwggn fund$ - ¢urrent year Unrèstrlcted Fund8 Restrictod Funds Fund balance8 at 31 March 2024 are represented byi Total Tangible fixed assets Cash al bank and in hand Other current assets Creditors 897,604 1,360,316 153,471 {671,6051 681,798 1.728 1,579,402 1,362,044 153,471 1671,6051 1,739,786 683,526 2,423,312 Analysis of group ntrtassets beeen funds - prior yèar Unrestricted Funds Restricted Funds Fund balances at 31 March 2023 arg r¢pre$ènted by; Totsl Tangible fixed assets Cash al bank and in hand Other current assets Creditors 923,167 1,086,156 130,362 1524,1711 695,520 1,728 1,618,687 1,087,884 130,362 1524,171} 1,615,514 697,248 2,312,762 30
BOWLES ROCKS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 Contingent liability The company and its subsidiary are registered as a group for value added lax purposes. The company is therefore contingenlly liable for any unpaid value added tax liabilities of its subsidiary. 17 Capital commltments At 31 March 2024 the charitable company had no capital commitments (2023, nil). 18 Control The parent charitable company is controlled by its éirectors. 19 Auditors, ethlcal standards In common with many charities of our size and nature we use our auditors lo prepare and submit our returns to the tax authorities. 20 Penslon commitments The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amoLsnled lo £34,383 (2023.. £32,376). 21 Related partles Two Directors dependents were paid a total sum of £6,868 for paid work during the year 12023 £5,277). There 8re no outstanding balances (2023.. NIL) Trustees made donations amounting to £120 (2023.. £120} lo the charity during the year. 22 Reconciliation of net movement In funds to net cash flow from operating activities. Total funds 2024 Total funds 2023 Net movement in funds Add back depreciation charge Deduct interest income shown in investing activities Decrease (increase) in stock Decrease (increase) in debtors Increase Idecreasel in creditors 110,550 97,574 {41.864) 11,059) (22,051) 147,434 46,604 87,719 (7,258) 14,092) 13,190 78,337 Net cash used In operating activities 290,583 214,500 31