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2022-12-31-accounts

Registered number: 0412621 Charity number: 313364 (England)

FIELD STUDIES COUNCIL

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FIELD STUDIES COUNCIL

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1 - 2
Trustees' report 3 - 22
Independent Auditor's report on the financial statements 23 - 26
Statement of Financial Activities 27
Balance Sheet 28 - 29
Company balance sheet 30 - 31
Statement of Cash Flows 32
Notes to the financial statements 33 - 70

(A company limited by guarantee)

FIELD STUDIES COUNCIL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees Professor P Higgins PFHEA FRGS, FRSE, Chair1,4
Professor R H Marrs FCiEEM CEcol FRSB, Vice-Chair2
Mrs J White MBE, Vice Chair (retired 2 July 2022)3
Mr M H Beatty OBE, FCPFA, FRSB, Honorary Treasurer2,3
Mr P W Anderson3,4
Dr M R Christie3
Mr R J Cooke (retired 5 July 2022)1
Ms A Craig3
Mrs K L Davids (appointed 10 April 2022)1
Professor N J K Howden2
Mr M L Keatley-Clarke (appointed 10 April 2022)1
Mr C Lane1,3
Mrs G Miller1
Mr N P O'Loughlin (appointed 10 April 2022)2
Mr J Sissons2,4
Mrs C Smith (retired 14 July 2023)1
Mr J A Thomson (retired 6 July 2022)2
Mrs E K Wiid (retired 7 January 2022)1

1 Member of the Education Strategy Committee

2 Member of the Finance and Administrative Committee

3 Member of the Audit and Risk Management Committee

4 Member of the Remuneration Committee Company number 0412621 Charity numbers 313364 (England) and SC039870 (Scotland) Registered office Field Studies Council Preston Montford Shrewsbury Shropshire SY4 1HW Company secretary Mr T Dhadwar Chief executive officer Mr J M Castle OBE FRSA

Page 1

FIELD STUDIES COUNCIL

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Independent Auditors WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Solicitors Anthony Collins LLP
134 Edmund Street
Birmingham B3 2ES
Veale Wasbrough Vizards LLP
Narrow Quay House
Narrow Quay
Bristol BS1 4QA
Senior leadership team Mr J M Castle OBE FRSA, Chief Executive Officer*
Mr T Dhadwar MBA FCCA, Director of Finance and Business Administration and
Company Secretary*
Mr I Wainwright BA (Hons) MSc DipM FCIM CMktr, Commercial Director*
Mr P Turvil BSc (Hons) MSc FInstLM MIoD, Eco Business Director*
Mr A Pratt BSc, Head of Group West (until 27 January 2022) then Director of
Education and Operations*
Mrs S Seivewright MA CFCIPD, Head of Human Resources
Mr T L W Foster BSc MSc FRGS PGCE, Head of Group North (retired 04
February 2022)
* In addition to Trustee Jeff Sessions, these are Directors of FSC Trading Ltd
Patron Patron The former Prince of Wales
President Professor T P Burt FAGU FRGS
Vice-Presidents Dr A H Lavery OBE
Mr R Lucas FRGS
Mr A D Thomas OBE
Professor D B A Thompson FRSE FCIEEM
Honorary Vice- Mrs A Bailey BA
Presidents Sir Christian J S Bonington CVO CBE DL
Mr G H Brown FCCA
Dr J H Crothers
Dr R Crump (deceased March 2023)
Mr M H Edwards BA PGCE
Dr J J Hopkins MSc PhD
Mr C K Kington FRSA FRGS
Mrs M Peart OBE BSc PGCE
Dr S Tilling
Dr S Trudgill (deceased Jan 2022)

Page 2

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees of Field Studies Council present their report and the audited financial statements of the Company and Group for the year 1 January to 31 December 2022. Field Studies Council’s Trustees are Directors of Field Studies Council for company law purposes. This report is a combined company directors’ report and charity trustees’ report and contains a strategic report as required by company law. The Trustees have approved the strategic report.

Field Studies Council is a charity registered in England and Wales (No. 313364) and in Scotland (No. SC039870). It Is a non-profit making private company limited by guarantee, registered in England and Wales No. 412621.

This report contains consolidated results of Field Studies Council and FSC Trading Ltd. FSC Trading Ltd, a private company limited by shares registered in England and Wales No. 12891131, is a wholly owned subsidiary of Field Studies Council and began trading in April 2021.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance “Public benefit: running a charity” (PB2). All Field Studies Council’s activities are undertaken to further its charitable purposes for the public benefit.

We aim to inspire everyone to be curious, knowledgeable, passionate and caring about the environment. Our aim is that first-hand experiences in the real world to connect and engage with nature will inspire care for the planet on which we all depend.

We do this mainly by creating outstanding opportunities and high-quality outdoor learning for all ages, delivered through courses and events held at our network of outdoor learning centres and a growing number of third party venues. Field Studies Council also provides online and virtual opportunities to reach new audiences.

As access to high quality learning opportunities is not easily available to everyone, we seek to tackle this issue by providing subsidised opportunities. Field Studies Council works and campaigns for everyone to be able to enjoy high quality outdoor learning, not just those who can afford it, and that it is firmly embedded in the school curriculum across all UK nations.

b. Field Studies Council's charitable purposes

Field Studies Council’s charitable purposes are set out in its Articles of Association. In summary they are:

Page 3

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

c. Main activities undertaken to further the Company's purposes for the public benefit

Field Studies Council provided a wide variety of opportunities for learners of all ages to engage in fieldwork and first-hand outdoor learning experiences. Our purposes also refer to “every kind of fieldwork” and in 2022 the Charity continued to offer online, virtual, and blended learning and extend the range of locations at which learning experiences were offered. We have seen that learning more about the environment develops the passion, knowledge and skills needed to help protect and preserve the environment.

Our main activity is the provision of educational courses for schools, colleges and universities who come to our network of field studies centres in England, Scotland and Wales. Courses are taught on both residentials and day visits. In addition, other activities include publishing high quality field guides to identify fauna and flora and we also seek to increase sources of funds to support our charitable purpose through the short-term letting of our properties at times when our property is not required for field work.

Advancing adult biodiversity training

In 2022, Field Studies Council supported 10,000 adults to understand and protect biodiversity. We designed and delivered 200+ courses over 40+ subjects at our Centres, online, and at 25 new locations. We were pleased that:

Growing nature publications

The Field Studies Council supported large new audiences by growing their biodiversity awareness and taxonomic skills and knowledge. We produced and distributed over 150,000 printed biodiversity guides across the UK to households, community groups, and professionals.

We continued to further our objectives by being a delivery partner in a number of national, government funded projects.

Page 4

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

Growing grants and supporters

The Field Studies Council advanced our charitable impact by building relationships with grant funders, businesses, and individuals and the financial support and partnerships enabled multiple projects to benefit school children, young people, and adults. We invested in innovative learning pathways and marketing to diversify our audiences. We embedded fundraising into Field Studies Council’s 10-year strategic plan.

Field Studies Council continued to promote field studies and the protection of the environment at government level by our advocacy work. We campaigned to ensure that field studies and outdoor learning opportunities are available to all, not just those that can afford them.

In delivering our purpose to establish, equip and maintain centres for field studies the Charity is seeking to do this in a sustainable way, managing our buildings and wider estate to enhance nature recovery, biodiversity and is working towards carbon net zero by 2030.

Extensive detail of our activities is contained within our Impact Report.

https://cdn.fieldstudiescouncil.net/impact_reports/Impact_Report_2022-23_final_Compress_Low.pdf

d. Other activities undertaken by Field Studies Council

Field Studies Council, as a charity, has limited ability to engage in other activities. Through FSC Trading Ltd, the Charity’s premises provide holiday accommodation at times when that accommodation is not required for use or able to be used in delivering Field Studies Council’s charitable objectives. One of the responses to the financial pressures on Field Studies Council was to increase significantly the alternative uses of its properties particularly in peak holiday time and in one case for film production. In 2022 income generated from noncharitable activities was £1,718,152 (2021: £1,509,420), which resulted in a donation from FSC Trading Ltd to Field Studies Council of £253,306 (2021: £199,139 [paid in 2022]) towards achieving the Charity’s objectives.

Page 5

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

e. Plans for future periods

The Organisation developed a Ten-year Plan - Road to 2032, after significant consultation with key stakeholders. The plan established 8 clear strategic goals for 2032, which are;

  1. To have a resilient and robust financial operating model that will enable the generation of cash reserves sufficient to sustain regular investment in staff, systems, assets and partnerships, for the fulfilment of our charitable objects.

  2. To have a residential estate configured to offer a gateway to high value landscapes that enables the delivery of a quality customer experience.

  3. To pioneer and deliver learning for increasing numbers of people and more diverse audiences extending our reach with an Field Studies Council branded experience across the UK with immersive, inclusive, outdoor experiences available within an hour of 80% of the population.

  4. To have a balanced and resilient product portfolio to mitigate our risk exposure to changes in our main areas of business, and to help us meet our charitable objects in other ways, as customer demand and markets change.

  5. To have an established network of supporters, donors, staff and student alumni who campaign on behalf of Field Studies Council, supporting our position as the leading provider of accessible outdoor learning contributing to biodiversity and climate change literacy.

  6. To have a brand which will be widely recognised, synonymous with quality and credibility, giving us new opportunities to access customers, donors, partners and Governments.

  7. To ensure that the protection and preservation of the natural environment and sustainable practices are visibly embedded within Field Studies Council's ethos and values and demonstrated in practice.

  8. To deliver our products and services utilising a mixed economy of highly motivated and well trained staff and volunteers deployed and equipped to support our leading role in the sectors we are part of.

It also identified key areas of opportunity, some of which are:

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FIELD STUDIES COUNCIL (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

f. Employees, Associate Tutors and volunteers

Field Studies Council’s workforce consists mainly of full-time and part-time employees and is supplemented by self-employed freelancers, a mix of self-employed and casual associate tutors and volunteers (including the President, Vice-Presidents and Trustees). The volunteers are important to Field Studies Council in relation to its governance and delivery of its charitable objectives. Volunteers donate their time and expertise at some of our centres, often in developing and maintaining our centre habitats. We continued our Higher Education Placement scheme in 2022 where 18 students spent their year in industry with us, gaining experience of living and working in a residential field centre setting.

In 2022 the FSC Group employed on average 368 people (2021: 321), approximately 66% full- time and 34% part-time. FSC Group employed more women than men. As at 5 April 2022 when the Gender Pay Gap Review was conducted the differences between pay for men and women as reported for 2022 was Mean (average) 13.4% (2021: 17.0%) and Median (midpoint) 3.9% (2021: 3.9%). The average number of employees (full-time equivalents) employed during 2022 was 295 (2021: 246). Further details are disclosed in Note 14 to the Financial Statements.

Employee Pay

Field Studies Council and FSC Trading Ltd operate a salary banding scale for all staff. Each post has incremental points relating to it; progression to the next point level depends on satisfactory performance. The grade and corresponding salary for all staff has been determined through a HAY (Korn Ferry) job evaluation exercise. The recruitment and retention of key staff continued to be an area of increasing difficulty in 2022, so a review of pay and benchmarking review of annual leave was carried out to fully inform decision making in 2022.

We review salaries each year to assess whether any cost-of-living increase or changes to the National Minimum Wage are needed. In April 2022 we applied the National Minimum Wage increases to pay scales 0 to 4 and also made the decision to keep the previously agreed principle of maintaining a minimum 2% differential between all pay scales. Therefore, despite the ongoing financial pressures of the pandemic, all staff on pay scale 14 or below received an increase in their hourly rate of pay. In addition, annual incremental increases were awarded to eligible members of staff. In December 2022 we changed the effective date for general pay changes from 1 April to 1 January in every year starting in 2023. Further information on remuneration arrangements for Key Management Personnel is included in Note 14 to the Financial Statements.

Employment of Disabled Persons

Field Studies Council has detailed policies in relation to all aspects of personnel matters including an equal opportunities policy which establishes fair employment practices in the recruitment, selection, retention, training, career development and promotion of disabled staff.

g. Fundraising

Field Studies Council did not carry out any significant fundraising activities with the general public. However, the website continues to make our charitable status clearer and contains a direct donation ask and an option to make a donation at the online shop.

During 2022, the Charity received over £40,000 in donations from the general public and legacies income was over £210,000.

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

h. Grant-making

In Autumn 2021, as a result of feedback from customers, Field Studies Council launched a new Grants for Schools scheme, the first awards being made in January 2022. The grants are made to schools wishing to book courses at Field Studies Council Centres in the UK, reducing the costs to schools and parents for primary, secondary and/or further education courses. Grants for Schools are part of our charitable work to try to remove barriers to outdoor learning, in this case financial barriers.

The grants are paid over three years and can support the same or different courses each year. Therefore, schools will have financial support to arrange environmental education for multiple year groups, rather than just one, and unite school classes in shared experiences.

The grants offer fixed grant amounts per school for day or residential courses. This means that schools can more easily budget for field trips and communication with parents is easier, knowing that the grant is secured.

The grants are:

Strategic report

Our primary strategic goal, in 2022, was to preserve the Charity as a going concern. This report and the Accounts show in detail the steps taken by the Charity to achieve this. Specific measures included accessing Welsh Government Covid related Grants in the early part of 2022, holding the cash provided through the Coronavirus Business Interruption Loan Scheme (CBILS) to provide liquidity, efficiency improvements and close attention to priorities calling for expenditure. We are pleased to report that at the end of 2022 we had repaid the full amount of £2.5m of the CBILS loan, made possible by liquidating surplus property in 2021 and 2022, the receipt of legacies, and careful attention to operational performance. Some important investments in our property assets were postponed, and our residential activity has been slower to recover than we had hoped, so that we made less progress towards achieving our 10-year plan than we wished. Nevertheless, we continue to make an important contribution towards achieving our charitable purpose, described below.

Achievements and performance

a. Achievements and performance

The Pandemic, which severely affected operations in 2020 and 2021, enabled Field Studies Council to accelerate some of the plans contained within the 2020-2025 strategy, which will help to strengthen Field Studies Council’s overall performance. The contraction in the number of operating locations and the move to a more seasonal staffing model has helped to reduce expenditure, whilst the acceleration of both the diversification in product offering in Adult Learning and the increased use of existing locations in traditionally non-education months, has helped to generate additional revenue streams to compliment the core charitable activities.

The culmination of these changes to the Operating model have resulted in an Operating Surplus of £949,482 for the year.

Page 8

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Strategic report (continued)

b. Measures for the delivery of Field Studies Council’s charitable purposes

Field Studies Council’s activities, measured in numerical form, for the furtherance of our Charitable purposes are summarised as:

Learners are individuals who attended a course or event provided by the Field Studies Council. We aim to work with the widest range of learners with a view to creating benefit for the wider society as a whole.

The significant increase in 2022 compared to 2021, in in-person learning, is due to the lifting of Pandemic related restrictions imposed by the Government.

The FSC Group's Vision for 2025 contains four key objectives designed to inspire everyone to be curious, knowledgeable, passionate and caring about our environment: Get People Outdoors, Provide High-Quality Outdoor Learning, Advocate Sustainability, and Encourage Wellbeing.

Despite the turmoil of recent years, starting with the Covid-19 pandemic, but continuing with the negative impacts of Brexit and the War in Ukraine, and the challenges that these events have created, we believe that four key objectives of the Strategy remain as relevant today as they did in 2019.

Each objective identifies workstreams to facilitate the delivery of the overall strategy.

Objective 1: Get People Outdoors

Field Studies Council engages the widest range of people by:

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Strategic report (continued)

Objective 2: Provide High-Quality Outdoor Learning

Field Studies Council provides excellent courses, materials and opportunities for all people and abilities by:

Objective 3: Advocate Sustainability

Field Studies Council promotes sustainable approaches in all aspects of our work by:

Objective 4: Encourage Wellbeing

Field Studies Council seeks to nurture health, happiness and confidence through outdoor learning. This is being achieved through the numerous high-quality opportunities Field Studies Council provides for outdoor learning. Spending time in nature and connecting to the environment is great for our health and wellbeing. This has become a cross-cutting theme for Field Studies Council.

Page 10

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Strategic report (continued)

Financial Review

a. Key financial performance indicators

We are extremely grateful to all our users, organisers of visitor groups, funders and donors for their continued support.

Field Studies Council’s key performance indicators in this respect are:

2022 2021
Surplus/(deficit)
Income - total
Income - Environment Education Courses
Expenditure - total
Expenditure - employees
Net current assets/(liabilities) at year end
Net assets at year end
Cash at year end
Loan debt at year end
Employees - FTEs(annualised average)		 949,482
17,022,756
13,602,295
15,964,355
8,771,104
(1,488,880)
15,096,207
3,653,657
1,952,029
368		 (1,446,089)
12,374,759
5,708,476
14,144,138
7,137,310
(1,432,583)
14,146,725
3,564,862
4,534,665
321

Further information on financial performance is given in the financial review below.

Overview

Income is activity driven, derived mainly from payments made for its environmental education courses principally by school groups and university groups (2022: £13.6m, 2021: £5.7m). In a typical year, the courses income is greatest in the March to June and September to November periods. As a result, cash tends to be low in the first quarter and build up to a peak in late June and fall thereafter. Historically, Field Studies Council has paid for an overdraft facility with Barclays Bank to fund its activities if necessary when cashflow is low. However, our new booking system and revised terms and conditions, which were first used for the full year in 2019, have contributed to a more effective sales process, improved rebooking rates and resulted in significantly higher cash balances than 2018 and prior years. The cash balance at the year-end was £3.6m (2021: £3.6m). Throughout 2022 the overdraft facility was not utilised and the facility was cancelled by us. In addition, the Coronavirus Business Interruption Loan of £2.5m which we drew down in November 2020, was repaid in full in December 2022, significantly reducing our debt financing costs for future years.

Expenditure is, in contrast, relatively steady month by month, being mainly staff costs and the costs of maintaining, operating and insuring our estate. This allows for accurate working capital requirement forecasting for a minimum of six months ahead.

Field Studies Council does not have a significant endowment fund with which to finance its activities. To finance new developments and major maintenance, repairs and capital improvements, Field Studies Council relies on generating, over time, an annual surplus of income over expenditure.

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Strategic report (continued)

b. Field Studies Council’s financial position at 31 December 2022

Reserves and total net assets were £15.1m (2021: £14.1m) and net current liabilities were £1.5m (2021: £1.4m). The net current liabilities amount is primarily as a result of deposits received from customers for course bookings in 2023 (Note 20). Fixed assets were £18.8m (2021: £19.5m): the change being due, principally, to depreciation and amortisation charges to existing assets. Current assets were £5.4m (2021: £4.9m), including cash at bank of £3.6m (2021 £3.5m), and current liabilities were £6.9m (2021: £6.4m).

For 2022 income exceeded expenditure by £0.9m (2021: deficit £1.4m). Total Income was £17.0m (2021: £12.4m). Expenditure was £16.0m (2021: £14.14m). Income from charitable activities increased to £13.6m (2021: £5.7m) driven by the removal of government restrictions of educational residential visits as a result of the Covid pandemic. Income from Donations and Grants, excluding Covid-related grants, was £1.2m (2021: £2.5m).

c. Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that Field Studies Council has adequate resources to continue in operational existence for the foreseeable future which for this purpose means the period of 12 months from the date these financial statements are approved. 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 note 2.2 of the financial statements.

d. Reserves Policy

Field Studies Council holds reserves for purposes of ensuring sustainability of Field Studies Council’s mission, ongoing operations and to provide a source of internal funds for organisational priorities. To achieve this, reserves are estimated taking into account analysis of strategic risks to the Field Studies Council and these risks are reviewed on a regular basis. The nature of our work is such that we have contractual commitments to those who visit our learning locations sometimes extending for longer than a year. Therefore, the risks for which reserves are required are those related to business continuity including budget risk, working capital and exceptional costs. The Trustees have undertaken a review of these risks and decided that the appropriate level of reserves required is in the range of £1.5m - £2.5m.

General funds (General Reserves) are held to manage strategic risks and day-to-day business continuity. The level of free reserves as measured by general funds excluding fixed assets and designated funds was a deficit of £2.9m as at 31st December 2022 (2021: £4.9m deficit), this is a result of the deficits incurred because of the trading restrictions under Covid during 2020 and 2021.

Field Studies Council holds a number of designated funds totalling £729k as at 31st December 2022 (2021: £849k): details are given in Note 23 to the Accounts. Total funds held in restricted funds were £922k as at 31 December 2022 (2021: £1.3m). These are held to be spent in line with funders' requirements.

The restricted fund for the Heritage Lottery Fund (HLF) Biolinks Development was in a deficit position of £98,591 as at 31 December 2022. This was due to the timing difference on the final claim being made by Field Studies Council to the HLF. The claim was made in Q1 2023 and the amounts recovered in full. (2021: £nil).

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

e. Material Investments Policy

Any spare resources are invested in a range of pooled funds to achieve a return of at least the rate of inflation so that resources are protected in real terms.

Strategic report (continued)

f. The principal risks and uncertainties facing Field Studies Council

These, so far as they have been identified, are:

These continue to be the principal risks and uncertainties for Field Studies Council in 2023.

Constant close and caring attention to health and safety continues to be a key feature of Field Studies Council’s culture and operations. We promote a risk benefit approach to learning outdoors and continue to campaign for fieldwork and outdoor learning to be firmly embedded in the curriculum.

A Strategic Risk Register is maintained and updated regularly by management and reviewed by the Audit & Risk Management Committee and by the Board.

g. Financial Risk Management objectives and policies

The Trustees have a risk management strategy comprising:

h. Payment practices and performance

Field Studies Council reported on its payment practices and performance as required by law on 1 February 2023. The report showed that Field Studies Council paid invoices within an average of 45 days with 66% of invoices paid within 30 days.

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Strategic report (continued)

i. Section 172 (1) statement

Section 172 of the Companies Act 2006 requires a director of a charitable company to act in the way he or she considers, in good faith, would be most likely to achieve the company’s charitable purposes for the public benefit. In doing so, section 172 requires the director to have regard (amongst other matters) to:

The requirement on directors of a commercial company is different in that they are required to promote the success of the company. For the trustees of a charitable company the section 172 duty more obviously overlaps with the section 171 duty to act in accordance with the company’s constitution which limits the company’s activities principally to its charitable purposes. The circumstances are also different in that usually the directors of a charitable company are unpaid volunteers and employees are not eligible to be directors.

Protecting and preserving the environment is one of Field Studies Council’s three charitable purposes. The Trustees recognise the Charity’s direct responsibility in this respect as being greater than just having regard to the impact of its operations on the environment.

Organisationally Field Studies Council embeds a number of the section 172 factors in its governance and operations. Examples include:

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Strategic report (continued)

In 2022 particular examples of applying the section 172 factors include:

Some of these examples apply to more than one heading and for most additional detail is given elsewhere in this Report.

Page 15

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Strategic report (continued)

Streamlined Energy and Carbon Reporting

2022 Energy and Carbon Report for the FSC Group

Location-based Reporting Jan 2022 - Dec 2022 Jan 2021 - Dec 2021
Emissions
Scope		 t CO2e t CO2e
Emissions from combustion ofgas 1 377.67 277.58
Emissions from combustion of fuel for transportpurposes 1 51.09 37.53
Emissions from other activities which the company owns or
controls includingoperation of facilities		 1 280.86 267.05
Emissions frompurchased electricity 2 278.68 222.30
Scope 1 + 2 988.30 804.46
Emissions from business travel in rental cars or employee-owned
vehicles where the business is responsible forpurchasingthe fuel		 3 30.45 15.54
Scope 1 + 2 + 3 1,018.75 820.00
Underlying energy (kWh) 6,793,342.40 5,476,374.71
kg CO2e/ £m turnover(Scope 1 + 2) 58.06 65.01
kg CO2e / £m turnover(Scope 1 + 2 + 3) 59.85 66.26
Market-based Reporting Jan 2022 - Dec 2022 Jan 2022 - Dec 2022 Jan 2021 - Dec 2021
Emissions
Scope		 t CO2e t CO2e
Emissions from combustion ofgas 1 377.67 277.58
Emissions from combustion of fuel for transportpurposes 1 51.09 37.53
Emissions from other activities which the company owns or
controls includingoperation of facilities		 1 280.86 267.05
Emissions frompurchased electricity 2 0.00 0.00
Scope 1 + 2 709.61 582.16
Emissions from business travel in rental cars or employee-owned
vehicles where the business is responsible forpurchasingthe fuel		 3 30.45 15.54
Scope 1 + 2 + 3 740.07 597.70
Underlying energy (kWh) 6,793,342.40 5,476,374.71
kg CO2e/ £m turnover(Scope 1 + 2) 41.69 47.04
kg CO2e/ £m turnover(Scope 1 + 2 + 3) 43.47 48.30
Turnover figure 2022 £17,022,756
Turnover figure 2021 £12,374,759

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FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Strategic report (continued)

Methodology

A location-based calculation of CO2 equivalent emissions and underlying energy was made using data collected from utility and fuel suppliers. Emissions and underlying energy from business travel in rental cars or employee- owned vehicles were modelled using a UK average vehicle.

The methodology is consistent with the 2022 edition of the UK Government GHG Conversion Factors for Company Reporting.

https://www.gov.uk/government/publications/greenhouse-gas-reporting-conversion-factors-2022

A location-based method reflects the average emissions intensity of grids on which energy consumption occurs. Field Studies Council has purchased renewable electricity from our supplier, Ecotricity.

Narrative of energy efficiency action over the financial year

There were a variety of energy efficiency linked measured implemented during this period, outlined below. Many of these projects are ongoing and have continued to improve our operational efficiency.

Page 17

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

a. Status and Constitution

Field Studies Council is a company limited by guarantee without a share capital. It was incorporated in 1946 and is registered in England and Wales under the Companies Act 2006 (company number 412621). It is the successor to The Council for the Promotion of Field Studies which was established in 1943.

Field Studies Council is registered with the Charity Commission for England and Wales (number 313364) and with the Scottish Charity Regulator (number SC039870).

Our constitution and charitable objects, and the regulations concerning our management, are embodied in our Memorandum and Articles of Association.

Our Articles of Association and our annual Accounts are available for inspection through Companies House, the Charity Commission for England and Wales, and the Office of The Scottish Charity Regulator.

Our Governance Handbook, which refers to the public benefit guidance published by the Charity Commission for England and Wales, was updated in 2021. The Handbook applies many of the recommended practices in the Charity Governance Code for larger charities to our governance.

b. Trustees, Officers and Advisers

On 31 December 2022 Field Studies Council had 14 Trustees. Appointments are for an initial term of six years and reappointments for a further term of three years. In 2022 three new Trustees were appointed, two existing Trustees were appointed for a further term and four Trustees retired.

The Charity operates on the principle that long-serving Trustees (someone who has served for more than nine years) should not represent more than 25% of the total number of Trustees. In 2022 four out of 14 Trustees were long serving.

Information on the Trustees, Officers and Advisers, and the identity of the Directors of FSC Trading Ltd, is given on pages 1 to 2. Further information on individual Trustees is given on the Charity’s website.

c. Appointment and Reappointment of Trustees

Existing Trustees are responsible for the recruitment of new Trustees. The Board annually identifies whether there is a need to appoint additional Trustees, taking into account the skills, experience and knowledge needed for the effective operation of the Board. If appointments are to be made, it sets up a panel to identify and recommend suitable candidates to the Board for appointment. Posts are advertised publicly.

d. Induction and training of Trustees

Field Studies Council’s policy is to ensure that all new Trustees are provided with appropriate induction and training through documentation, a visit to a centre or Head Office or a relevant external course. New Trustees are encouraged to undertake safeguarding training and other courses such as the NCVO e-learning 'Roles and duties of trustees' and the DSC 'Financial governance for trustees'. A growing strand of work has centered around Equality and Diversity. Trustees are encouraged to play a part on committees or other working groups and to take a special interest in one aspect of the Charity's organisation.

Page 18

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

e. Members' liability

Field Studies Council’s Articles of Association provide that every member promises, if Field Studies Council is dissolved while they remain a member or within 12 months afterwards, to pay up to £1 towards the costs of dissolution and the liabilities incurred by Field Studies Council while they are a member. Only Trustees and the President are members of the company. As at 31 December 2022 there were 15 members of the company (2021: 16).

f. Organisational Management and Decision Making

The Charity pursues its charitable activities, conducts a limited amount of non-charitable activity some ancillary to its charitable activities and some in providing support to FSC Trading Ltd. FSC Trading Ltd employs the education staff, conducts the alternatives uses business and other non-charitable activities, and provides support to the Charity.

As part of their legal responsibilities, Trustees oversee the strategic direction of the Charity. The Trustees have established four committees. Information identifying the committees, the frequency of meetings of the Trustees and the committees, and Trustees attendance is given in the table on page 20. In 2022 the Trustees established the Remuneration Committee.

Trustees delegate responsibility and authority for Field Studies Council’s day-to-day activities and delivery of the Vision and Values to the Chief Executive and, through him, to staff. This includes responsibility for developing and maintaining policies and operating procedures.

The Chief Executive is accountable to the Board, leads the workforce and ensures resources are controlled and effectively administered. The Chief Executive works with a Senior Leadership Team which meets regularly.

Staff volunteers represent the views of staff at the Board of Trustees and Board Committee meetings. Field Studies Council has operational working groups which involve managers and staff from across the organisation, and in some cases Trustees, in developing specific areas of work.

The trustees who served during the reporting period, the committees on which they served and their attendance are set out in the table on the next page:

Page 19

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

2022
AGM		 Board
Audit & Risk
Management
Com
Education
Strategy Com
Finance &
Administration
Com
Remuneration
Com		 Board
Audit & Risk
Management
Com
Education
Strategy Com
Finance &
Administration
Com
Remuneration
Com		 Board
Audit & Risk
Management
Com
Education
Strategy Com
Finance &
Administration
Com
Remuneration
Com
Number of meetings
1		 4
3
3		 4 2
Trustees
Pete Higgins1(Chair)
1/1
Peter Anderson
1/1
Malcolm Beatty
1/1
Martin Christie
1/1
Rob Cooke3
Amanda Craig
1/1
Kathryn Davids7
1/1
Nicholas Howden
0/1
Mark Keatley-Clarke7
1/1
Chris Lane
1/1
Rob Marrs
1/1
Gill Miller
1/1
Nicholas O'Loughlin7
0/1
Jeff Sissons8
1/1
Charlotte Smith9
1/1
John Thomson4
Jenifer White5
Emma Wiid6		 4/4
1/3
2/3
3/4
2/2
4/4
3/3
2/2
3/4
3/3
4/4
4/4
3/3
1/1
2/2
3/4
3/3
2/3
2/2
2/4
1/4
3/3
1/2
4/4
1/2
1/2
4/4
2/4
4/4
3/3
0/3
1/2
4/4
4/4
2/2
4/4
3/3
1/1
2/2
1/1
2/2
Attendance rate
85%		 87%
82%
75%
68%
100%
Notes
3. Rob Cooke retired from the Board and committees on 5.7.22
1. Pete Higgins, as Chair, is invited to attend all committee meetings, though not a committee member
7. New trustees (K Davids, M Keatley-Clarke, N O'Loughlin) joined the Board on 11.4.22 but attended some meetings as
observers beforehand.
During 2022 some Trustees also served as members of the Operations Health & Safety and the Environment &
SustainabilityWorkingGroups.
5. Jenifer White retired from the Board and committees on 2.7.22
4. John Thomson retired from the Board and committees on 6.7.22
6. Emma Wiid retired from the Board and committees on 7.1.22
9. Charlotte Smith retired from the Board and committees on 14.7.23
8. Jeff Sissons also served as a Director of FSC Trading Ltd.

The day-to-day management of the Charity is delegated by trustees to the Senior Leadership Team (SLT) as set out below:

Mr J M Castle OBE, Chief Executive Officer Mr T Dhadwar, Director of Finance and Business Administration and Company Secretary Mr I Wainwright, Commercial Director*

Mr P Turvil, Eco Business Director*

Mr A Pratt, Director of Education and Operations* Mrs S Seivewright, Head of Human Resources

*In addition to Trustee Jeff Sessions, these are Directors of FSC Trading Ltd

Page 20

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

Day-to-day activities include responsibility for developing and maintaining policies and operating procedures. The Senior Leadership Team is accountable to the Board, leads the workforce and ensures resources are controlled and effectively administered.

g. Arrangements for Setting the Pay and Remuneration of Field Studies Council’s Key Management Personnel

The Board of Trustees decides on the starting point and progression of the Chief Executive’s salary (this is currently delegated to the Chair). The Chair conducts the annual appraisal of the Chief Executive and provides input into the annual appraisal meetings for the Senior Leadership Team. The Trustees, at the Board or its Finance & Administration Committee, following recommendations from the Remuneration Committee, decide on any cost-of-living adjustments to the salary bandings. Remuneration for all paid personnel is set in line with published salary bandings and the scale points within those bands. The key management personnel are identified and information on their pay is given in note 14 of the Accounts.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company 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 must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for the Company keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the 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 Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 21

FIELD STUDIES COUNCIL

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Disclosure of information to Auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

WR Partners have indicated their willingness to continue in office.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Professor Pete Higgins, Chair (Chair of Trustees)

Date: 09/08/2023

Page 22

FIELD STUDIES COUNCIL

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL

Opinion

We have audited the financial statements of Field Studies Council (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows the statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. 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 Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (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. We are independent of the Group in accordance with the ethical requirements that are relevant to 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 23

FIELD STUDIES COUNCIL

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required 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.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:

Page 24

FIELD STUDIES COUNCIL

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company 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 to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to 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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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 detect 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and group and determined that the most significant are those that relate to the reporting framework (Charities SORP (FRS102), the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006), the relevant tax compliance regulations, employment law, Heath and Safety Regulations and the EU General Data Protection Regulation (GDPR).

We understood how the charitable company and group are complying with these frameworks by making enquiries of management, those charged with governance and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.

We assessed the susceptibility of the charitable company and group's financial statements to material misstatement, including how fraud might occur by meeting with key management and those charged with governance to understand where they considered there was susceptibility to fraud. Based on our understanding procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.

Page 25

(A company limited by guarantee)

FIELD STUDIES COUNCIL

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state 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 this report, or for the opinions we have formed.

John Fletcher BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of WR Partners Chartered Accountants Statutory Auditors Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Date: 9 August 2023

WR Partners are eligible to act as Auditors in terms of section 1212 of the Companies Act 2006.

Page 26

FIELD STUDIES COUNCIL

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and grants:
4
Coronavirus support grants
. Donations and legacies
Charitable activities
5
Other trading activities
6
Investments
7
Other income
8
Total income
Expenditure on:
Raising funds
9
Charitable activities
10
Total expenditure
Net income/(expenditure) before net
(losses)/gains on investments
Net (losses)/gains on investments
17
Net income/(expenditure)
Transfers between funds
23
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
46,324
345,725
13,602,295
1,718,152
92,273
392,635
16,197,404
568,587
14,573,066
15,141,653
1,055,751
(100,074)
955,677
378,094
1,333,771
12,840,202
1,333,771
14,173,973		 Restricted
funds
2022
£
-
823,045
-
-
1,190
-
824,235
-
822,702
822,702
1,533
(7,728)
(6,195)
(378,094)
(384,289)
1,306,523
(384,289)
922,234		 Total
funds
2022
£
46,324
1,168,770
13,602,295
1,718,152
93,463
392,635
17,021,639
568,587
15,395,768
15,964,355
1,057,284
(107,802)
949,482
-
949,482
14,146,725
949,482
15,096,207		 Total
funds
2021
£
1,356,905
2,462,734
5,708,476
1,509,420
28,441
1,308,783
12,374,759
388,126
13,756,012
14,144,138
(1,769,379)
323,290
(1,446,089)
-
(1,446,089)
15,592,814
(1,446,089)
14,146,725

Page 27

FIELD STUDIES COUNCIL

(A company limited by guarantee) REGISTERED NUMBER: 0412621

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
15
Investments
17
Investment property
16
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
Creditors: amounts falling due within one
year
20
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
21
Provisions for liabilities
22
Total net assets
Charity funds
Restricted funds
23
Unrestricted funds
23
Total funds
2023		 80,689
1,669,209
3,653,657
5,403,555
(6,892,435)		 2022
£
16,358,093
1,977,442
480,000
18,815,535
(1,488,880)
17,326,655
(1,836,021)
(394,427)
15,096,207
922,234
14,173,973
15,096,207		 78,140
1,297,047
3,564,862
4,940,049
(6,372,632)		 2021
£
16,923,586
2,077,509
480,000
19,481,095
(1,432,583)
18,048,512
(3,901,787)
-
14,146,725
1,306,523
12,840,202
14,146,725

Page 28

FIELD STUDIES COUNCIL (A company limited by guarantee) REGISTERED NUMBER: 0412621

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Professor Pete Higgins, Chair Trustee

09/08/2023

Date:

Peter W Anderson Trustee

The notes on pages 33 to 70 form part of these financial statements.

Page 29

FIELD STUDIES COUNCIL

(A company limited by guarantee) REGISTERED NUMBER: 0412621

COMPANY BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
15
Investments
17
Investment property
16
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
Creditors: amounts falling due within one
year
20
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
21
Provisions for liabilities
22
Net assets
Total net assets
Charity funds
Restricted funds
23
Unrestricted funds
23
Total funds		 80,689
1,667,521
3,653,479
5,401,689
(6,890,570)		 2022
£
16,358,093
1,977,443
480,000
18,815,536
(1,488,881)
17,326,655
(1,836,021)
(394,427)
15,096,207
15,096,207
922,234
14,173,973
15,096,207		 78,140
1,985,568
2,673,134
4,736,842
(6,368,565)		 2021
£
16,923,586
2,077,510
480,000
19,481,096
(1,631,723)
17,849,373
(3,901,787)
-
13,947,586
13,947,586
1,306,523
12,641,063
13,947,586

Page 30

FIELD STUDIES COUNCIL (A company limited by guarantee) REGISTERED NUMBER: 0412621

COMPANY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022

The Company's net movement in funds for the year was £ 1,148,621 (2021 - £(1,645,228)) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Professor Pete Higgins, Chair Trustee

Peter W Anderson Trustee

Date: 09/08/2023

The notes on pages 33 to 70 form part of these financial statements.

Page 31

FIELD STUDIES COUNCIL

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Cash flows from operating activities
Net cash used in operating activities
27
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Purchase of investments
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
28
0/08/2023		 2022
£
2,721,686
94,580
91,900
(236,735)
-
(50,255)
(2,582,636)
(2,582,636)
88,795
3,564,862
3,653,657		 2021
£
4,465
28,441
1,099,649
(94,890)
(7,259)
1,025,941
(171,348)
(171,348)
859,058
2,705,804
3,564,862

The notes on pages 33 to 70 form part of these financial statements.

Page 32

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

Field Studies Council ("the Company") is a private company limited by guarantee. The members of the Company are the Trustees and the President named on pages 1 and 2. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the second edition of the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the second edition Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Field Studies Council meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of Field Studies Council and FSC Trading Ltd, a subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis and balances and transactions between Field Studies Council and FSC Trading Ltd are eliminated.

The charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

2.2 Going concern

The Trustees continue to adopt the going concern basis of accounting in preparing the company’s financial statements.

In relation to these financial statements, the Trustees have assessed whether the use of the going concern basis of accounting is appropriate and whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The Trustees made the assessment in respect of a period of one year from the date the financial statements are approved for issue.

The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the period of one year from the date these financial statements are approved, based in financial terms principally on the financial forecasts for 2023 and bookings data for 2024.

Performance at the end of May 2023 is broadly in line with budgeted expectations, with a deficit of £445k against a budgeted deficit of £278k, being £167k adverse to budget.

Page 33

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.2 Going concern (continued)

The Inflationary pressures across the UK are beginning to have some impact on customer bookings and Field Studies Council is starting to see a reduction in the number of pupils able to attend, which is having a negative effect on our primary income source, Course Fee Income. This downturn has been reflected in the Spring 2023 reforecast for the year. Balanced with additional Income in other areas and cost savings achievable against budget, a surplus will still be generated for 2023.

More importantly, return bookings for 2024 are still healthy and as at 12 June 2023, the Organisation already has in excess of £7.1m of bookings in the pipeline, demonstrating a strong demand for our services.

Cash holdings at the end of May 2023 were £5,662k compared to £5,621k at the end of May 2022. This is after having repaid the outstanding Capital of £1,958k on the CBILS Loan in December 2022.

However, Management and Trustees are mindful of wider global turmoil, principally the ongoing War in Ukraine and continuing high rate of Inflation in the UK, with CPI as at June 2023 reported at 7.9% and the additional impact that this is having on the Base Rate of Interest June 2023 at 5.0%. The decision to repay the CBILS Loan early is now translating to a significant saving in Debt servicing costs in 2023.

Field Studies Council is protected, against inflationary increases, in some part due to fixed price contracts for the supply of Gas and Electricity, which were entered into in 2021 and remaining in place until September 2023. However, significant price increases have been incurred on Wood Pellets, for Biomass Boilers and Oil. Costs in other areas are expected to increase, primarily for food. The largest expenditure category for Field Studies Group remains Employment Costs, which were budgeted at £10.5m, which is 62% of total budgeted expenditure for 2023.

In making their assessment on going concern, Trustees were informed, by a presentation provided by Management outlining the emergent challenges for 2023 and the mitigating actions that were being implemented to counter the effects, at their meeting on 25/26 March 2023. The company is critically dependent financially on course income, which arises principally in the periods March to June and September to November. It has already been recognised that achieving 2023 budgeted Course Fee Income will not be possible due to the impact of the Cost-of-Living crisis on bookings. Mitigating actions have already been implemented to reduce expenditure, mainly in staffing costs.

The income streams from non-charitable activities, which since 2021 have been generated principally by FSC Trading Ltd, are expected to continue to provide material additional revenues in 2023 and beyond. The growth of these income streams formed part of the 2020-25 strategy, agreed by the Board in 2019.

The considerations mentioned above have been incorporated into the Spring 2023 reforecast which generates a surplus of £220k, an improvement of £19k on the original budget for 2023.

Accordingly, the accounts have been prepared on the going concern basis and the trustees are of the opinion that there are no material uncertainties in relation to the group or company's ability to continue as a going concern for the foreseeable future.

Page 34

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from the supply of services is recognised with the delivery of the contracted service provided that: the stage of the completion, the costs incurred in delivering the service and the costs to complete the requirements of the contract can all be measured reliably.

Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

For legacies, entitlement is taken as the earlier of the date on which either: the Company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Company that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Company, or the Company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Governance costs are costs incurred on the Company's operations including support costs and costs relating to the governance of the Company apportioned by charitable activities.

Page 35

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

2.7 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

The Company pays material amounts in respect of employers national insurance contributions, value added tax, and for some properties business rates. These are included in expenditure and where appropriate creditors.

Page 36

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.8 Tangible fixed assets and depreciation

Tangible fixed assets are recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Cost includes the cost of acquiring land and buildings and any directly attributable costs. Donated assets are capitalised on donation and included at fair value.

Property

Depreciation is provided on all property at rates calculated to write the cost or valuation off less their estimated residual value, over their expected useful life less estimated residual value.

The major components of the properties that have significantly different patterns of consumption of economic benefits are treated as separate assets and depreciated over their expected useful economic lives on a straight line basis at the following rates:

Component

Freehold land
Freehold Structure
Leasehold structure
Roof

Boilers and heating systems
Bathrooms

Kitchens

Emergency lights

Flooring
 Lifespan (years)

Unlimited

50
Length of lease
30
15
20
10
20
15

Component spend on leasehold properties would be the shorter of the remaining lease and the life of the component.

Non property, plant and equipment

Only plant and equipment costing £500 or more is capitalised. Depreciation is provided on all plant and equipment at rates calculated to write the cost or valuation off less their estimated residual value, over their expected useful life on a straight line basis at the following rates:

Lifespan (years)
Scientific equipment 3 - 10
Motor vehicles and boats
 5
Furniture and equipment
 3 - 10

Improvements

Where there are improvements to properties that are expected to provide incremental future benefits, these are capitalised and added to the carrying value of the property, both freehold and leasehold. Any works that do not replace a component or results in an incremental future benefit are charged as expenditure in the Statement of Financial Activities.

Page 37

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.8 Tangible fixed assets and depreciation (continued)

Impairment

No new impairment losses have been included in these Accounts. As at each reporting date, the Company assesses whether there is any indication that an asset may be impaired. If there is such an indication and there are shortfalls between the carrying value of individual fixed assets and their recoverable amount then the shortfall is recognised as an impairment in the Statement of Financial Activities. The Charities SORP specifies that the recoverable amount of an asset is the higher of its fair value less costs to sell the asset and its value in use. Field Studies Council uses value in use when considering the recoverable value of certain properties.

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.10 Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 38

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.13 Liabilities and Provisions

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

Fees received in advance (deferred income) are treated as liabilities and carried forward into the accounting period in which the courses take place.

2.14 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.15 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease.

Page 39

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.16 Pensions

The Group participated in two pension schemes in the year. The assets of these schemes are held separately from those of the Company in independently administered funds.

There is a defined contribution scheme, usually but not exclusively for non-teaching staff. The pension charge represents the contributions payable by the Company to the fund in respect of the year. Employee contributions rates for the year were 7.4% and employer contributions were 13%.

The Company established a scheme with National Employment Savings Trust in April 2013 from which time it was open to employees. Current contributions are set at 5% gross for employees and 3% for employers.

Up until 31 March 2021, the Company participated in the Teacher's Pension Scheme for its teaching staff. This is an unfunded multi-employers defined benefit pension scheme and it is not possible or appropriate to identify the assets and liabilities of the scheme attributable to the Company. In the relevant part of 2021 the employer contribution rate was 23.68%, and employee contribution rates ranged from 7.4% to 11.7% on a tiered rate dependent on contributory salary. Following a staff consultation in Autumn 2020, all employees eligible to be members of the TPS opted to exit the scheme and enter a different scheme with effect from 1 April 2021.

2.17 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The group does not have any estimates and have not made any assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 40

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Income from donations and grants

Unrestricted
funds
2022
£
Donations
General donations
38,944
Foundation Fund
95,619
Legacies
211,162
Young Darwin Scholarship Fund
-
Heritage Lottery Fund Biolinks
-
Green Influencers
-
BW Enviro Gains
-
Growing Confidence Project
-
Wildflower Bursary
-
Biodiversity Fund
-
Kids Fund
-
Nature Friendly Schools
-
Centre Support Funds
-
Doddington
-
Eco Skills Generation Green
-
TFC Forgotten Places
-
Total donations
345,725
Coronavirus job retention scheme
-
Other Coronavirus support grants
46,324
Subtotal
46,324
Total 2022
392,049
Total 2021
3,211,334		 Restricted
funds
2022
£
2,488
-
-
82,051
318,175
18,720
15,000
-
-
29,190
-
178,028
45,631
28,661
-
105,101
823,045
-
-
-
823,045
608,305		 Total
funds
2022
£
41,432
95,619
211,162
82,051
318,175
18,720
15,000
-
-
29,190
-
178,028
45,631
28,661
-
105,101
1,168,770
-
46,324
46,324
1,215,094
3,819,639		 Total
funds
2021
£
567,399
192,938
1,094,092
19,568
257,965
-
-
5,175
290
-
3
84,658
6,779
-
233,867
-
2,462,734
795,611
561,294
1,356,905
3,819,639

Further information on restricted funds is given in notes 23 and 24.

Page 41

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. Income from charitable activities

Unrestricted
funds
2022
£
Environmental Education
12,426,470
Educational Publications
539,553
Projects & Partnerships
249,499
Transport
386,773
Total 2022
13,602,295
Total 2021
5,708,476		 Total
funds
2022
£
12,426,470
539,553
249,499
386,773
13,602,295
5,708,476		 Total
funds
2021
£
4,913,262
536,870
176,649
81,695
5,708,476

6. Income from other trading activities Income from non charitable trading activities

Unrestricted
funds
2022
£
Shops
38,682
Bar
50,756
Maps and Other Publications
5,722
Course fees
392,343
Accommodation, hire and catering
1,230,649
Total 2022
1,718,152
Total 2021
1,509,420		 Total
funds
2022
£
38,682
50,756
5,722
392,343
1,230,649
1,718,152
1,509,420		 Total
funds
2021
£
8,078
23,593
1,645
384,188
1,091,916
1,509,420

Page 42

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Investment income

Unrestricted
funds
2022
£
Income from Investments
30,374
Bank Interest Received
61,899
Total 2022
92,273
Total 2021
28,199		 Restricted
funds
2022
£
1,190
-
1,190
242		 Total
funds
2022
£
31,564
61,899
93,463
28,441		 Total
funds
2021
£
28,441
-
28,441

8. Other incoming resources

Unrestricted
funds
2022
£
Rentals Receivable
234,929
VAT Recovered
69,910
Surplus on Disposal of Fixed Assets
87,796
Total 2022
392,635
Total 2021
1,308,783		 Total
funds
2022
£
234,929
69,910
87,796
392,635
1,308,783		 Total
funds
2021
£
147,980
119,779
1,041,024
1,308,783

Page 43

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Expenditure on raising funds

Other trading expenses

Unrestricted
funds
2022
£
Shops
25,873
Bar
40,045
Maps & Other Publications
5,596
Accommodation
24,463
Staff Costs
472,610
Total 2022
568,587
Total 2021
388,126		 Total
funds
2022
£
25,873
40,045
5,596
24,463
472,610
568,587
388,126		 Total
funds
2021
£
4,376
21,335
1,169
35,999
325,247
388,126

Page 44

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2022
£
Environmental Education
14,016,321
Educational Publications
451,058
Projects & Partnerships
20,153
Designated Funds
85,534
Restricted Funds
-
Total 2022
14,573,066
Total 2021
13,039,531		 Restricted
funds
2022
£
-
-
-
-
822,702
822,702
716,481		 Total
2022
£
14,016,321
451,058
20,153
85,534
822,702
15,395,768
13,756,012		 Total
2021
£
12,627,548
376,466
834
34,683
716,481
13,756,012

11. Analysis of expenditure by activities

Environmental Education
Educational Publications
Projects & Partnerships
Designated Funds
Restricted Funds
Total 2022
Total 2021		 Activities
undertaken
directly
2022
£
11,317,759
451,260
17,387
85,534
822,702
12,694,642
10,212,378		 Support
costs
2022
£
2,698,562
(202)
2,766
-
-
2,701,126
3,543,634		 Total
funds
2022
£
14,016,321
451,058
20,153
85,534
822,702
15,395,768
13,756,012		 Total
funds
2021
£
12,627,548
376,466
834
34,683
716,481
13,756,012

Page 45

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Analysis of expenditure by activities (continued)

Analysis of direct costs

Environmental
Education
2022
£
Staff costs
5,693,865
Depreciation
753,365
Courses
610,874
Publications
-
Travel and Transport
552,763
Equipment and Property
2,180,151
Office and Miscellaneous
1,236,158
Marketing and Publicity
290,583
Total 2022
11,317,759
Total 2021
9,085,310
Staff costs
Depreciation
Courses
Publications
Travel and Transport
Equipment and Property
Office and Miscellaneous
Marketing and Publicity
Total 2022
Total 2021		 Educational
Publications
2022
Projects &
Partnerships
2022
Designated
Funds
2022
£
£
£
182,746
-
-
3,029
1,133
-
58
-
83,000
175,191
-
-
1,355
-
-
29,657
13,731
-
58,006
2,523
-
1,218
-
2,534
451,260
17,387
85,534
375,070
834
34,683
Restricted
Funds
2022
Total
funds
2022
Total
funds
2021
£
£
£
303,376
6,179,987
4,744,206
-
757,527
1,620,434
498,025
1,191,957
759,076
894
176,085
197,665
-
554,118
352,479
19,076
2,242,615
1,338,947
-
1,296,687
951,339
1,331
295,666
248,232
822,702
12,694,642
10,212,378
716,481
10,212,378		 Educational
Publications
2022
Projects &
Partnerships
2022
Designated
Funds
2022
£
£
£
182,746
-
-
3,029
1,133
-
58
-
83,000
175,191
-
-
1,355
-
-
29,657
13,731
-
58,006
2,523
-
1,218
-
2,534
451,260
17,387
85,534
375,070
834
34,683
Restricted
Funds
2022
Total
funds
2022
Total
funds
2021
£
£
£
303,376
6,179,987
4,744,206
-
757,527
1,620,434
498,025
1,191,957
759,076
894
176,085
197,665
-
554,118
352,479
19,076
2,242,615
1,338,947
-
1,296,687
951,339
1,331
295,666
248,232
822,702
12,694,642
10,212,378
716,481
10,212,378
10,212,378

Page 46

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Courses
Travel and Transport
Equipment and Property
Office and Miscellaneous
Educational Development
Loan Interest Payable
Governance costs
Total 2022
Total 2021		 Environmental
Education
2022
£
2,118,507
41,121
21,116
43,790
176,269
82,381
930
184,173
30,275
2,698,562
3,542,238		 Educational
Publications
2022
£
-
-
(202)
-
-
-
-
-
-
(202)
1,396		 Projects &
Partnerships
2022
£
-
-
-
2,766
-
-
-
-
-
2,766
-		 Total
funds
2022
£
2,118,507
41,121
20,914
46,556
176,269
82,381
930
184,173
30,275
2,701,126
3,543,634		 Total
funds
2021
£
2,067,857
39,688
(3,486)
19,212
30,641
1,298,228
8,019
62,507
20,968
3,543,634

Page 47

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. Auditor's remuneration

2022 2021
£ £
Fees payable to the Company's auditors for the audit of the Company's
annual accounts 15,850 15,550
Fees payable to the Company's auditors and its associates in respect of:
The auditing of the accounts of the subsidiary company 4,700 3,500
Taxation compliance services 2,000 1,900
All non-audit services not included above 5,800 4,750

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

6 Trustees received reimbursement of expenses amounting to £1,712 (2021: 6 Trustees, £1,459).

In addition to this, other committee expenses were incurred of £822 (2021: £246) and the directors and officers liability insurance paid in the year was £2,724 (2021: £2,585).

The key management personnel of the Company include the Trustees.

Page 48

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Analysis of staff costs

Wages and salaries
Social security costs
Employer provided pension schemes		 Group
2022
£
7,855,377
586,185
329,542
8,771,104		 Group
2021
£
6,208,389
473,825
455,096
7,137,310		 Company
2022
£
5,028,637
336,930
98,992
5,464,559		 Company
2021
£
4,480,366
328,420
279,709
5,088,495

Included within the above staff costs, there are redundancy costs of £10,227 (2021: £23,184) paid out to employees.

In the event that after the balance sheet date, a member of the Group terminates the employment of any of its staff, it may be obliged to pay wages and salaries during the relevant notice period and in appropriate cases make redundancy payments. No amount is included in creditors as a liability in respect of those obligations.

The average number of persons employed by the Group during the year was as follows:

Group Group
2022 2021
No. No.
368 321

Average employees expressed as a full time equivalent (the difference between the average number of employees and the full time equivalent is explained by the number of part-time staff who make up approximately one-third of the total employee numbers):

Teaching staff
Hospitality and Administration staff		 Group
2022
No.
120
175
295		 Group
2021
No.
97
149
246

Page 49

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Analysis of staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2022 2021
No. No.
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 2 1
In the band £80,001 - £90,000 1 2
In the band £110,001 - £120,000 - 1
In the band £120,001 - £130,000 1 -

Remuneration and benefits received by key management personnel

The Chief Executive is the highest paid employee. In 2022, the salary paid to him was £125,662 (2021: £115,047). In addition to the salary the Company paid contributions towards his pension of £3,768 (2021: £3,405).

In 2022, the key management personnel of the Company comprise the Trustees and the following members of staff: the Chief Executive, Director of Finance, Commercial Director, Eco Business Director, Director of Education and Operations, the Head of Group (North) and the Head of Human Resources. The total employee benefits (including employer provided pension schemes, benefits in kind and employer national insurance contributions) of the paid key management personnel were £608,895 (2021: £704,104). Information on payments to the Trustees is given in note 13. The 2021 comparative figure for key management personnel remuneration has been updated to ensure comparability with the current year figure.

Page 50

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Tangible fixed assets

Group and Company

Cost or valuation
At 1 January 2022
Additions
Disposals
Transfers between
classes
At 31 December
2022
Depreciation
At 1 January 2022
Charge for the
year
On disposals
Transfers between
classes
At 31 December
2022
Net book value
At 31 December
2022
At 31 December
2021		 Freehold
property
£
16,290,788
60,270
-
(1,046,918)
15,304,140
4,411,973
361,737
-
(376,963)
4,396,747
10,907,393
11,878,815		 Long-term
leasehold
property
Plant &
machinery
£
£
7,871,864
568,603
-
76,165
-
(13,923)
-
-
7,871,864
630,845
3,477,279
539,466
198,028
20,248
-
(13,903)
-
-
3,675,307
545,811
4,196,557
85,034
4,394,585
29,137		 Motor
vehicles
£
334,428
16,999
(9,990)
-
341,437
281,148
21,384
(9,990)
-
292,542
48,895
53,280		 Fixtures
& fittings
Assets
held for
sale
£
£
2,085,123
-
83,301
-
(40,245)
-
-
1,046,918
2,128,179
1,046,918
1,517,354
-
196,727
-
(36,161)
-
-
376,963
1,677,920
376,963
450,259
669,955
567,769
-		 Total
£
27,150,806
236,735
(64,158)
-
27,323,383
10,227,220
798,124
(60,054)
-
10,965,290
16,358,093
16,923,586

Page 51

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Tangible fixed assets (continued)

On 15 October 2020 the Company created a debenture in favour of Barclays Bank plc which was registered at Companies House on 20 October 2020. The charges in the debenture cover all of the property and undertaking of the Company.

On 25 November 2020 the Company created a charge in favour of Barclays Bank plc which was registered at Companies House on 9 December 2020. It contains a fixed charge covering the freehold land at Rhyd y Creuau, the Drapers Field Centre, Llanrwst Road and 1 to 3 Bron Rhedyn, Llanrwst Road, Betws-y-Coed LL24 0HA.

On 25 November 2020 the Company created a charge in favour of Barclays Bank plc which was registered at Companies House on 10 December 2020. It contains a fixed charge covering the freehold land at Castle Head field centre, Lindale, Grange over Sands LA11 6QT.

These charges were created to meet the requirements of the CBILS loan application.

Barclays Bank plc also hold existing charges covering the freehold land at Slapton, Kingsbridge; Whitegates, Wood Lane, Slapton, and Slapton Ley Field Centre, Sands Road, Slapton, Kingsbridge, and the property at Blencathra Field Centre, Threlkeld, Cumbria.

Page 52

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16.
Investment property
Group
Valuation
At 1 January 2022
At 31 December 2022
Company
Valuation
At 1 January 2022
At 31 December 2022		 Freehold
investment
property
£
480,000
480,000
Freehold
investment
property
£
480,000
480,000

The investment property valuations were made by the trustees on a market value basis.

Page 53

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Fixed asset investments

Investments

Group
Cost or valuation
At 1 January 2022
Additions
Revaluations
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
Company
Cost or valuation
At 1 January 2022
Additions
Revaluations
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 in
subsidiary
companies
£
1
-
-
1
1
1
Investments
in
subsidiary
companies
£
2
-
-
2
2
2		 Listed
investments
£
2,077,508
7,735
(107,802)
1,977,441
1,977,441
2,077,508
Listed
investments
£
2,077,508
7,735
(107,802)
1,977,441
1,977,441
2,077,508		 Total
£
2,077,509
7,735
(107,802)
1,977,442
1,977,442
2,077,509
Total
£
2,077,510
7,735
(107,802)
1,977,443
1,977,443
2,077,510

Page 54

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Fixed asset investments (continued)

Principal subsidiaries

The following were subsidiary undertakings of the Company:

Names Company Class of Holding Included in
number shares consolidation
FSC Trading Ltd 12891131 Ordinary 100% Yes
FSC Consultancy Services Limited 02746466 Ordinary 100% No

The financial results of the subsidiaries for the year were:

Names Income Expenditure Profit/(loss) Net assets
£ £ for the year £
£
FSC Trading Ltd 4,469,998 4,216,692 253,306 1
FSC Consultancy Services Limited - - - 2

FSC Trading Ltd's principal activity includes the employment of the education staff and providing them to the Charity. FSC Trading Ltd raises funds for Field Studies Council by providing premises and hospitality services to businesses and the general public, and employs the education staff and provides their services to Field Studies Council. FSC Trading Ltd began trading in April 2021.

FSC Trading Ltd's net assets split consists of £171,225 current assets and £171,224 current liabilities.

FSC Consultancy Services Ltd is a dormant company and has not been included in the consolidated accounts as it is not material.

The registered office of both subsidiaries is Preston Montford, Montford Bridge, Shrewsbury, Shropshire, England, SY4 1HW

Page 55

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18. Stocks

Raw materials
Work in progress
Debtors
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2022
£
18,235
62,454
80,689
Group
2022
£
1,292,728
-
149,032
227,449
1,669,209		 Group
2021
£
11,984
66,156
78,140
Group
2021
£
934,255
-
32,437
330,355
1,297,047		 Company
2022
£
18,235
62,454
80,689
Company
2022
£
1,292,728
-
147,344
227,449
1,667,521		 Company
2021
£
11,984
66,156
78,140
Company
2021
£
934,255
709,980
30,524
310,809
1,985,568

19. Debtors

Page 56

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

20. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Pension contributions payable
Other creditors
Accruals
Deferred income (see below)		 Group
2022
£
116,008
183,217
-
157,779
70,346
220,073
1,465,942
4,679,070
6,892,435		 Group
2021
£
632,878
144,162
-
119,424
-
51,555
1,410,090
4,014,523
6,372,632		 Company
2022
£
116,008
183,217
171,044
107,784
41,596
217,800
1,443,122
4,609,999
6,890,570		 Company
2021
£
632,878
144,162
135,094
79,170
-
49,438
1,393,545
3,934,278
6,368,565

Included within deferred income at 31 December 2022 is £4,679,070 (2021: £4,014,523) in relation to invoices raised in advance of the year end for deposits on future bookings in 2023 and beyond. Of this, £3,807,940 (2021: £3,506,049) was received in cash before the year end and £871,125 (2021: £498,485) is included in trade debtors in note 19.

Deferred Income
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous periods		 Group
2022
£
4,014,523
4,679,070
(4,014,523)
4,679,070		 Group
2021
£
3,083,246
4,014,523
(3,083,246)
4,014,523		 Company
2022
£
3,924,278
4,609,999
(3,924,278)
4,609,999		 Company
2021
£
3,083,246
3,924,278
(3,083,246)
3,924,278

Page 57

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

21. Creditors: Amounts falling due after more than one year

Group Group Company Company
2022 2021 2022 2021
£ £ £ £
Bank loans 1,836,021 3,901,787 1,836,021 3,901,787

Loans

Bank loans are secured against the Company's assets as per the disclosure in note 15.

Amounts falling due within one year
Bank loans
Amounts falling due 1-2 years
Bank loans
Amounts falling due 2-5 years
Bank loans
Amounts falling due after 5 years
Bank loans		 Group
2022
£
116,008
116,008
122,280
122,280
266,229
266,229
1,447,512
1,447,512
1,952,029		 Group
2021
£
632,878
632,878
636,416
636,416
1,890,555
1,890,555
1,374,816
1,374,816
4,534,665		 Company
Company
2022
2021
£
£
116,008
632,878
116,008
632,878
122,280
636,416
122,280
636,416
266,229
1,890,555
266,229
1,890,555
1,447,512
1,374,816
1,447,512
1,374,816
1,952,029
4,534,665

Page 58

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Provisions

Group and Company

Additions
Transferred from creditors		 Dilapidation
provision
£
264,427
130,000
394,427

The provision relates to estimated dilapidation costs on operating leases. The provision was included within creditors in the prior year and has been reclassified during the year to provisions. The provision has increased by £264,427 during the year with no amounts utilised during the year.

Page 59

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23. Statement of funds

Statement of funds - current year

Balance at 1
January
2022
£
Unrestricted
funds
Designated
funds
Bursary Fund
574,140
Epping Forest
Fund
69,687
FSC Foundation
184,515
Research /
Study Fund
21,274
849,616
Balance at 1
January
2022
£
General funds
General Funds
10,771,169
Contingencies
Fund
1,219,417
11,990,586
Total
Unrestricted
funds
12,840,202		 Income
£
Expenditure
£
-
-
-
-
126,385
(85,534)
-
-
126,385
(85,534)
Income
£
Expenditure
£
16,071,019
(15,056,119)
-
-
16,071,019
(15,056,119)
16,197,404
(15,141,653)		 Transfers
in/out
£
178,284
(63,898)
(178,284)
-
(63,898)
Transfers
in/out
£
441,992
-
441,992
378,094		 Gains/
(Losses)
£
(89,925)
3,408
(11,144)
-
(97,661)
Gains/
(Losses)
£
-
(2,413)
(2,413)
(100,074)		 Balance at
31
December
2022
£
662,499
9,197
35,938
21,274
728,908
Balance at
31
December
2022
£
12,228,061
1,217,004
13,445,065
14,173,973

Page 60

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23. Statement of funds (continued)

Restricted funds
Dale Fort Fund (capital)
Rural Carbon Challenge
Fund (capital)
Blencathra Purchase
Appeal
EF Capital Investment
reserve
Juniper Hall Fund
(investments)
Young Darwin
Scholarship
Preston Montford
Ecology
Heritage Lottery Fund
Biolinks Development
Tomorrow's Biodiversity
Centre Support Funds
Juniper Hall Fundraising
Appeal
Nature Friendly Schools
Biodiversity fund
Restricted Funds <
£5,000
Total of funds		 Balance at
1 January
2022
£
87,108
290,627
96,526
-
64,436
39,948
11,021
39,032
28,196
370,052
255,295
10,705
-
13,577
1,306,523
Balance at
1 January
2022
£
14,146,725		 Income
£
Expenditure
£
-
-
-
-
-
-
-
-
-
-
82,051
(32,247)
-
(11,127)
318,175
(455,798)
-
(28,196)
47,937
(41,349)
-
-
178,028
(85,609)
29,190
-
169,971
(168,376)
825,352
(822,702)
Income
£
Expenditure
£
17,022,756
(15,964,355)		 Transfers
in/out
£
(2,562)
(8,186)
(2,758)
63,898
-
-
-
-
-
(306,544)
(18,818)
(103,124)
-
-
(378,094)
Transfers
in/out
£
-		 Gains/
(Losses)
£
-
-
-
(3,559)
(5,286)
-
-
-
-
-
-
-
-
-
(8,845)
Gains/
(Losses)
£
(108,919)		 Balance at
31
December
2022
£
84,546
282,441
93,768
60,339
59,150
89,752
(106)
(98,591)
-
70,096
236,477
-
29,190
15,172
922,234
Balance at
31
December
2022
£
15,096,207

Page 61

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Capital Fund
Bursary Fund
Epping Forest
Fund
FSC Foundation
Research /
Study Fund
General funds
General Funds
Contingencies
Fund
Total
Unrestricted
funds		 Balance at
1 January
2021
£
16,666,466
473,800
59,109
-
20,000
17,219,375
Balance at
1 January
2021
£
(5,338,993)
1,006,178
(4,332,815)
12,886,560		 Income
£
55,686
25,160
3,038
192,938
1,346
278,168
Income
£
11,488,044
-
11,488,044
11,766,212		 Expenditure
£
(36)
(26,152)
-
(8,423)
(72)
(34,683)
Expenditure
£
(13,392,974)
-
(13,392,974)
(13,427,657)		 Transfers
in/out
£
(16,722,116)
-
-
-
-
(16,722,116)
Transfers
in/out
£
18,015,092
-
18,015,092
1,292,976		 Gains/
(Losses)
£
-
101,332
7,540
-
-
108,872
Gains/
(Losses)
£
-
213,239
213,239
322,111		 Balance at
31
December
2021
£
-
574,140
69,687
184,515
21,274
849,616
Balance at
31
December
2021
£
10,771,169
1,219,417
11,990,586
12,840,202

Page 62

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23. Statement of funds (continued)

Restricted funds
Malham Tarn Fund (capital)
Dale Fort Fund (capital)
Millport Works Fund
(capital)
Rural Carbon Challenge
Fund (capital)
Blencathra Purchase
Appeal
Juniper Hall Fund
(investments)
Young Darwin Scholarship
Preston Montford Ecology
Heritage Lottery Fund
Biolinks Development
Tomorrow's Biodiversity
Kids Fund
Centre Support Funds
Juniper Hall Fundraising
Appeal
Nature Friendly Schools
Nature Friendly Schools
Biodiversity fund
Restricted Funds < £5,000
Total of funds		 Balance at
1 January
2021
£
Income
£
220,101
-
89,670
-
1,115,056
-
298,812
-
99,284
-
63,015
242
69,500
19,568
11,021
-
14,187
257,965
28,196
-
21,988
3
366,622
6,779
255,295
-
20,961
84,658
18,000
-
(890)
233,867
15,436
5,465
2,706,254
608,547
15,592,814
12,374,759		 Expenditure
£
(14,756)
(2,562)
(27,425)
(8,185)
(2,758)
-
(49,120)
-
(233,120)
-
(21,991)
(3,349)
-
(94,914)
(18,000)
(232,977)
(7,324)
(716,481)
(14,144,138)		 Transfers
in/out
£
(205,345)
-
(1,087,631)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,292,976)
-		 Gains/
(Losses)
£
Balance at
31
December
2021
£
-
-
-
87,108
-
-
-
290,627
-
96,526
1,179
64,436
-
39,948
-
11,021
-
39,032
-
28,196
-
-
-
370,052
-
255,295
-
10,705
-
-
-
-
-
13,577
1,179
1,306,523
323,290
14,146,725		 Balance at
31
December
2021
£
-
87,108
-
290,627
96,526
64,436
39,948
11,021
39,032
28,196
-
370,052
255,295
10,705
-
-
13,577
1,306,523

Page 63

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

24. Funds

Unrestricted Funds

General fund represents the operational income and expenditure.

Contingencies fund is represented by the value of the major part of investments.

Designated Funds

These are funds designated or earmarked by the Board of Trustees for such purposes as they deem appropriate.

FSC Foundation - Monies set aside to help fund educational courses delivered to children from deprived backgrounds.

Bursary fund is designated and used to support disadvantaged children who might find it difficult to come on outdoor classroom courses because of financial circumstance. The fund is aimed at individuals.

Epping Forest fund - monies generated by specific Investments available to fund activities at Epping Forest.

Research / Study fund is held for purposes promoting further study and research.

Restricted Funds

Dale Fort Fund this represented a grant received from National Assembly of Wales towards cost of redevelopment at Dale Fort.

DEFRA Rural Carbon Challenge Fund - This project aimed to reduce the carbon footprint of Blencathra Field Centre by about 80% through the provision of a number of renewable energy sources in place of fossil fuel methods.

Blencathra Purchase Appeal - This represented funds raised from an appeal toward the purchase of Blencathra Field Centre in Autumn 2013.

EF Capital investment reserve - An endowment Fund to generate income for the support of the Field Studies Council's activities at Epping Forest Field Centre. This balance was transferred from the associated designated reserve during 2022 to properly ring fence this capital element. Movements each year on this fund represent the change in Market Value of the underlying investments.

Juniper Hall Fund - An endowment Fund to generate income for the support of the Field Studies Council's activities at Juniper Hall Field Centre Movements each year on this fund represent the change in Market Value of the underlying investments.

Young Darwin project encourages and supports young people who have a real interest in the natural world and seeks to develop the next generation of 'Charles Darwins'.

Page 64

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Preston Montford Ecology - This uses funding from the Jean Jackson Charitable Trust over three years to develop the enhancement of habitats at this site and help increase access and opportunities for more people.

The National Lottery Heritage Fund BioLinks II - The project was awarded in 2017 with a view to engaging over 2,000 people over five years and is due to culminate in 2023. The restricted fund for the Heritage Lottery Fund (HLF) Biolinks Development was in a deficit position of £98,591 as at 31 December 2022. This was due to the timing difference on the final claim being made by Field Studies Council to the HLF. The claim was made in Q1 2023 and the amounts recovered in full. (2021: £nil). This project came to an end in 2022.

Tomorrow's Biodiversity was a strategic five year research and training project. The first couple of years involved research into indicator species of climate change. The following three years encompassed taxonomic recording and training.

Centre Support Funds are held to raise monies to support or provide additional facilities at certain Field Centres - currently those at Amersham, Flatford Mill, Juniper Hall, Kindrogan, Malham Tarn, Nettlecombe, Preston Montford, Rhyd-y-Creuau and Slapton. At the end of 2017 Kindrogan received a £300,000 legacy to be used on supporting Outdoor Education in Scotland. This money has been utilised as such, and accordingly the balance of £306,543 transferred in the year to replenish the General Fund that initially financed the activities through revenue spend.

Juniper Hall Fundraising Appeal provided funding for the Phase II refurbishment of Juniper Hall.

Nature Friendly Schools provides funding to support teacher training, greening school grounds and offsite visits.

Biodiversity fund - A fund set up from donations intended help promote Biodiversity and the teaching of it.

Restricted funds < £5,000 :

Green Influencers - This is an innovative youth social action programme focussing on environmental issues in England. A network of 40 organisations will support youth empowerment and environmental action. A £36k grant was awarded for the period December 2020 to March 2023.

Gill Stevens Award - This fund is named in memory of a great supporter of outdoor education and is used for children from state schools near selected Royal Parks to get hands-on with nature and understand local wildlife.

The Gannochy Trust uses funding to support the day outreach and a three-day residential experience at FSC Millport, to develop and inspire the young people to care about their local environment, raise their aspirations and realise their potential.

Flatford Mill Suffolk Biological Recorders - Suffolk Biological Recorders This uses funding from the Suffolk Biological Records Centre and the Suffolk Naturalists Society to support individuals' attendance at Flatford's Natural History courses.

BW Enviro Gains - A Ten year agreement (from 2022) to increase the number of educational and volunteering opportunities delivered through the Field Studies Council at Bishops Wood, it seeks to increase the health and social wellbeing of local communities.

Page 65

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

25. Summary of funds

Summary of funds - current year

Balance at 1
January
2022
£
Designated
funds
849,616
General funds
11,990,586
Restricted funds
1,306,523
14,146,725		 Balance at 1
January
2022
£
Designated
funds
849,616
General funds
11,990,586
Restricted funds
1,306,523
14,146,725		 Income
£
Expenditure
£
126,385
(85,534)
16,071,019
(15,056,119)
825,352
(822,702)
17,022,756
(15,964,355)
Income
£
Expenditure
£
278,168
(34,683)
11,488,044
(13,392,974)
608,547
(716,481)
12,374,759
(14,144,138)		 Transfers
in/out
£
(63,898)
441,992
(378,094)
-
Transfers
in/out
£
(16,722,116)
18,015,092
(1,292,976)
-		 Gains/
(Losses)
£
(97,661)
(2,413)
(8,845)
(108,919)
Gains/
(Losses)
£
108,872
213,239
1,179
323,290		 Balance at
31
December
2022
£
728,908
13,445,065
922,234
15,096,207
Balance at
31
December
2021
£
849,616
11,990,586
1,306,523
Summary of funds - prior year
Designated
funds
General funds
Restricted funds		 Balance at
1 January
2021
£
17,219,375
(4,332,815)
2,706,254
15,592,814
14,146,725

Page 66

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

26.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2022
£
Tangible fixed assets
15,897,338
Fixed asset investments
1,857,952
Investment property
480,000
Current assets
5,061,566
Creditors due within one year
(6,892,435)
Creditors due in more than one year
(1,836,021)
Provisions for liabilities and charges
(394,427)
Total
14,173,973
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
£
Tangible fixed assets
16,449,325
Fixed asset investments
2,013,072
Investment property
480,000
Current assets
4,172,224
Creditors due within one year
(6,372,632)
Creditors due in more than one year
(3,901,787)
Total
12,840,202		 Restricted
funds
2022
£
460,755
119,490
-
341,989
-
-
-
922,234
Restricted
funds
2021
£
474,261
64,437
-
767,825
-
-
1,306,523		 Total
funds
2022
£
16,358,093
1,977,442
480,000
5,403,555
(6,892,435)
(1,836,021)
(394,427)
15,096,207
Total
funds
2021
£
16,923,586
2,077,509
480,000
4,940,049
(6,372,632)
(3,901,787)
14,146,725

Page 67

FIELD STUDIES COUNCIL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

27. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interests and rents from investments
Profit on the sale of fixed assets
Increase in stocks
Increase in debtors
Increase in creditors
Increase in provisions
Net cash provided by operating activities		 Group
2022
£
949,482
798,124
100,067
(94,580)
(87,796)
(2,549)
(372,162)
1,120,304
310,796
2,721,686		 Group
2021
£
(1,446,089)
1,604,464
(323,290)
(28,441)
(1,041,024)
(23,856)
(586,532)
1,849,233
-
4,465

28. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2022
£
3,653,657
3,653,657		 Group
2021
£
3,564,862
3,564,862

Page 68

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

29. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1
January
2022
£
3,564,862
(632,878)
(3,901,787)
(969,803)		 Cash flows
£
88,795
446,524
2,065,766
2,601,085		 At 31
December
2022
£
3,653,657
(186,354)
(1,836,021)
1,631,282

30. Contingent liabilities

Under its membership of ABTOT (The Association of Bonded Travel Organisers Trust), the Group is noted as the Travel Organiser in a bond dated 2 October 2017 between Travel & General Insurance Company PLC as Obligor and ABTOT. The insurance company would pay the amount of the bond if ABTOT were to have reasonable grounds for believing that the Group were unable to carry out its obligations to its customers. The insurance company has the right to recover any monies paid to customers from the Group. In 2022 the Group paid ABTOT £46,560 (2021: £12,461).

31. Pension commitments

As disclosed in 2.16 the Group participated in two pension schemes in the year. The contributions made to each in the year are as follows:

Teachers Pension Defined Benefit Scheme
23.68% of salary 0 staff (2021: 0)
From 1st April FSC charity employed 0 people
eligible to participate in the scheme
Pension Trust Defined Contribution Scheme
13% of salary 107 staff (2021: 114)
National Employment Savings Trust
3% of salary 172 staff (2021: 123)		 Group
2022
£
-
402,110
92,777
494,887		 Group
2021
£
102,488
342,162
56,834
501,484		 Company
Company
2022
2021
£
£
-
102,488
195,180
171,740
68,869
51,869
264,049
326,097

Page 69

(A company limited by guarantee)

FIELD STUDIES COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

32. Operating lease commitments

At 31 December 2022 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 Company
2022
£
112,046
448,184
1,619,182
2,179,412		 Company
2021
£
253,494
633,258
1,731,228
2,617,980

As these commitments relate to periods following the balance sheet date, the obligations of the Company in respect of the leases is not included as a creditor in liabilities.

33. Related party transactions

The Company and FSC Trading Ltd are related parties, being members of the same group. FSC Trading Ltd is a wholly-owned subsidiary of the Company. Further information on FSC Trading Ltd is given in Note 17.

In 2022 £3,130,020 (2021: £1,949,086) was charged by FSC Trading Ltd to Field Studies Council for the supply of staff services, and £885,684 (2021: £838,415) was charged by Field Studies Council to FSC Trading for management and administrative support services and for providing premises, the services of its employees, and food and other consumables used by FSC Trading Ltd in its activities. In 2022 FSC Trading Ltd donated £199,139 to Field Studies Council in respect of its profits in 2021. In 2022 a Deed of Covenant was put in place and in line with this, profits generated in FSC Trading Limited are treated as being donated in the year in which they are generated. These profits in 2022 amounted to £253,306. Field Studies Council and FSC Trading Ltd are members of the same VAT group and as such are responsible for both their own and the other’s VAT liability. The outstanding balance for the Company with FSC Trading Ltd at 31 December 2022 was £171,044 (2021: £135,094).

The Trustees and other key management personnel are related parties. Information on the remuneration and expenses of Trustees is given in Note 13 and on the remuneration of the other key management personnel is given in Note 14. In 2022, in addition to donating their time and expertise, Trustees made cash donations of £52 (2021: £1).

Save for these transactions, there were no other related party transactions in 2022 for which separate specific disclosure is required (2021: none).

There are neither controlling parties nor any persons with significant control.

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