Registered number: 0412621 Charity number: 313364 (England) ## FIELD STUDIES COUNCIL TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FIELD STUDIES COUNCIL IA company Ilmfted by guarnn￿l CONTENTS Page Reference and adminlstrnllve detaib of tho Company, fts Truste￿ and advlsers Chalrman's statement Trustoes. report 4-28 Independ•nt audltor4' r•port on th• flnan¢lal •tat•m•nt• 29-32 Consolldatsd stat¢m¢nt of fln•n¢lai actlvlU•8 33 con8011dat￿ bal•nee 8h•ot 34-35 Company balanco shoot 38_37 Consolldatad stat•Thnt of caxh Il¢N 38 Notes to the finan¢lal ststsrnents 39-79 FIELD STUDIES COUNCIL (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Professor P Higgins PFHEA FRGS FRSE, Chair (until 17 July 20241 Mr J SiSs￿S. Chair (on and from 17 July 2024) Professor R H Marrs FCIEEM CEcol FRSB. Wice Chair (retired 1 July 2024) Mrs G Mill2r. Vice Chair {on and from 17 Juty 20241 Mr M H Beatty OBE FCPFA FRSB, HOr￿ry Treasurer Mr P W Anderson {retired 6 July 2025) Mr C D Brwk- Dr M R Christie Dr R Copelan&Phillips' Ms A Craig Ms J Eckford- Dr M Farhadinia"- Or D J Garratt" Mr K Goddarcr Professor N J K Hthmden (retired 10 May 2024) Ms L Hunle Mr M L K￿￿eY-Clarke (retired 1 May 2024) Mr C Lane Ms J Latchford'- Ms N R L5ff￿- Mr N P O'Loughlin Mr D Weslgate"" Mr P Wilson Appointed" . 10 March 2024. - 17 Junè 2024 and '- 17 July 2025 Company number 0412621 Charity numbers 313364 (ErKJland) and SC039870 {Scdand) Reglster•d offic• Field StudEs Council Preston Monfford Shrewsoury Shropshi SY4 1HW Company secretary Mr T Dhathvar MBA FCCA Chlef exKutlve offl¢er Mr J M Castle OBE Page 1 FIELD STUOIES COUNCIL IA company Iimnaa Dy guarantee REFERENCE AND ADMINISTRAllvE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Audftorn WR Partners Chartered A¢countants Belrnont House ShrewsbJy Business Park ShrewsbLry Shropshire SY2 6LG Sollcltor• Anlhony Cdlins LLP 134 Edmund Street Bimiiryhwn B3 2ES Veale Wasbrwh Vrlards LLP Na￿OW Quay House Na￿oW Quay Bristol BS14QA Sonlor leadershlp t•am Mr J M Castl8 OBE, Ch￿1 Ex9￿tiVe Mr T Dhadwar MBA FCCA. Director of Finance and Busine88 Administratlon and Company Secretary"(-) Mr I Wainwright BA (Hons) Msc Dipm FCIM Cmktr, CommercAal Directo Mr A Pratt Bsc {Honsl, Director of Ed￿ation and Operation- 'In addthi to Trustee Martin Christie, these are Directors of FSC Trading Ltd Mr T Dhaolvar serves as the onty Director of Hira A Canoe Ltd. Field Studlas Council i8 recognised as a PSC. Patron Patron HRH The Pri￿8$ Royal (frorn January 2025) Prnsldet Professor T P Burt FAGU FRGS Page 2 FIELD STUDIES COUNCIL {A company Ilmited by guarantse) FOREWORD FROM THE CHAIR FOR THE YEAR ENDED 31 DECEMBER 2024 The chairman presents his ststement ft>r the year. l am immensely honoured to h￿e been elected as the Chair of the Board in 2024. It is with great enthusiasm that I look fopward to *that we can aCcom￿lSh in the coming yeaT5. As Field Studies Council looks foThvard, we can take immense pride in the past and at the $arne time recognise that much like Darwinian tlw. the organisation must adapt and elolve to surwve and thrive. Acting commercialty to behave charttakyy is a phrase I have used to describe the Challenge for Field Studie5 Council in the next phase of thè orgarrisation. Juxtaposing acting commercially wilh behaving tharitably hide5 an irony that the people most likely to benefil from studw'ng in the fiel¢. both focused on academic achievement and personal gri)wth, are the ones least likely to be able lo affo￿ it. As a Charity, we endeavour to genwate lunds to SUPF(rt the fnore disadvantsged peopk in Society to gain access to inspirattonal leaming opportunitiÈs. We should not shy away from generatng surplus, as acting comrnercially means we build financial ￿$￿Ilence and have the money to invest in the organisation's long-tetrn health a5 well as helping Ihose who need it most. It is this financial resilience that V•ill underwb moving from surrfr¥ing to thriving. The Im￿lcatiOnS of climate change a*J the biodiversity crFsis c￿arty demonstrate the need for environmental education in its widest sense is more important now that at any time in the past and our charitable objectives place emphasis on reaching out to the general public. Important to extending our reach into wder society is raising our profile as recognition helps us attract commercial partners, secure funding, and gain Customers. HRH The Princess Royal became our patron in January 2025. and we are grateful for her patronage and the benefits that V•ryll bring in raising our profile. A few words of thanks are due. My thanks to wewous trustees that conb'nue to provide support for the organisatk)n in a number of ways. Also. thanks to trustees that rebred from the board in 2024 and to the current trustees that give time and expertise to the cKganisation. Thanks aso to managemant and staff as VAI as a T4Mde variety of volunteers who èmbody the passion and enlhusiasn for the benefits of leamiNJ in the outdoors. Thanks to organisers of vtsrtor groups. funders. an¢J OorHNs. Your contsnued support contrsbutes to making inspiraticffial leamiNJ experien￿$ avalable. My final message is that desptle all the well documented challenges that charities face. Field Studies Council is well placed to become masters of our own destiny. Building financial Resilience. inueasing Reach. improving Recognition, and ¢ontributs'ng lo environmental Recovery are the buikling bk￿kS that will enable the organisab.on to build on our proud hist￿ and move from surviving lo thriving. J Sissons, Chair Page 3 FIELD STUDIES COUNCIL (A company Iimneu by guardnteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees of Field Studies Counol present their rewi for the year 1 January to 31 December 2024 and the audited 2024 consolidated ffinancial statements of Field Studies Council. Field Studies Council's Trustees are Directors of Field Studies Council for company law purposes. This report is a combined company directors, report and chanty trustees. report and contains. on pages 14 10 24, a strategic report as required by company law. The Trustees have approved the strategic reForL Field Studies Counul is a charity registwed in England and Wales (No. 313364} and in Scotland {No. SC039870). It Is a rwrofft making private tompany limitÈd by guarant8È. regist@rÈd in England and Wales No. 412621. The financial statements irKlude the consolidated resuts of Field Studies Council, FSC Tradlng Lt¢J and Hlre A Canoe Ltd. FSC Trading Lld, a prviale cornpany limited by sha￿$ registered in England and Wales No. 12891131. Hire A Canoe Ltd. a PfNate company limrted by shares registered in England and Wales No. 10733251. Both companies are wholty owned subsKlianes of Field Studies Cwncil. Page 4 FIELD STUDIES COUNCIL (A company Ilmlted by guarantee) TRUSTEES, REPORT {CONnNUEDI FOR THE YEAR ENDED 31 DECEMBeR 2024 Objectlve8 and actlvltles a. Policies and objectives In setting obj'ectives and planning for artivities. the Trustee5 have gtven due consideration to general guidance published by the Charity Commission ￿lating to pU￿1C benefft, induding the guidance 'Public benefit.. running charity" IPB2). AJI Field Studies Council's activitses are undertaken to further its charitsble purposes for the public benefit. We aim to inspire everyone to be curious, knowledgeable, passionate and caring about the 2nvironmenl. Our aim is that first-hand experiences in the real world to connect arKI engage nature wll inspire care for the planet on which we all depend. We do this mainly by creating outSts￿lIng opportunitEs and highqu*ty outdoor leaming for all ages, delivered through courses and events hdd at our ngtsvork of outdoor leamiry centres and a growing number of third-party venues. Field Studies Council also pr. Expanded audience through compllance trdinlng.. Newly develor£d Biodiversity Metric courses attracted 1,253 attendees from local authortlies. land serv]ces agencies. developers. building awareness and policy compliance within a rK)vel audience segment. Youth engagement and accessibilKy'. 14% of leamers {c.979) were ag￿ 1&24. with 590 subsidies provided to reduce finan￿al barriers.. 32.2% of those accessing subsidies cwkl not have attended otherwse. Enhanced accesslblllty for marglnallsod groups". Foyle grant funde*J accessible online bolanical courses for neurodiverse leamets. while SWJ"re Trust funding increa¥ed Young DarwÉn Scholarship accessibility 128% scholars from marginalised groups) al￿ supported onboarding 11 young adult Ixodiversity tutots Identffication rnsources to help people understand and care for the envlronmenl Field Studies Council produced a range of wldlrfe and taxonomic guides to h•lp people leam aboLrt nature. grow their biodiversty awareness. and develop their taxonomic skn.lls and knowledge We distributed over 134,000 printed bthiversty guides across the UK to hcyjseholds. communty groups, and professionals Our chaiity engaged audiences difectly arKI through 250 retailers. We extended our reach to new aLKliences through our work with Trees for Climate Action. wth resources that helped 7,756 people in Brajford and Glasgow to engas* Viith nature by following tr&ls and identifysng trees in their ltrAI area. 97% said Tree guides helped improrfe their knowledge of trees. and to recognise more tree species. We produced and published several new guides to benefft tsxonomic comrnunities and kept delivery up to dat•, ineluding AIDGAP guides for Orthnptpra And npJmapt8ra and Freshwater Leeches. and New WildlD guides to Walw5ide Plants. Gfassland Fungi and Aulumn Fruits and Seeds. We trialled an eBook fomiat for some AIDAGP guides. We delivefe(I commissK)ns from businesses and chartlles to create arKI Sha￿ over 20 b&spoke guides. These included.. guides to help people engage th their local y￿ldI1fe in Braunton Burrows, Berwick Coasl, Cr3nboume Chase and Isle of Man.. rèsources to help monitor the spread of invasive species in Antarctica. Cyptus, Gibraltar and in montSe￿at,. and an Atlas to British Click Beetles to yjpport biodiversity w(xkers and enthusiasts We developed a sulte of guides. linked to cour5e5 delFvered by BiodtveT5ity tfaining, to support Woodland Condition Assessment for Biodwersity Net Gain for Forestry Commission staff, surveyors and woodland O￿leTS. We worked wth the Geographical Association to produ￿ Creative Fielthvork 2. a book encouraging the use of engaging fiekhvork wthin the geography curriculum to inspire and Challenge students. Vve evnbedded nature puljioations into Field Studie5 Council's 10 year strategic plan. Page 6 FIELD STUDIES COUNCIL IA cofflpany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and actfvllles (contlnued) We conts.nued to further our obJ"ectives by being a deltvery partner in a number of national, govemment funded projects. Growlng grants and supporters Field Studies Council advanced our tharitable impact by building ￿latiOnshIpS grant funders. businesses, and indNiYuals and the financial support and partnerships enabl￿ mulbple projects to benefrt school children. young people. and adutts. We invested in innovats've leaming pathways and marketing to diversfy our audiences. We continued to embed fuThdraising into F￿d StIKlies Council's 1 I>￿ar strategic plan. Field Studies Council continued lo promote field studies and the protection of the environm￿1 at govemment level by wr advocacy Work. We campaigned to ensu￿ that field studies and ouidoor leaming opportunilies are available to ail, not just those that can afford them. In dÈlivering our purpose to establish. equip and maintain centres for field studies the Charity is seeking lo do this in a sustainable way, managing our buildings and wider estate to enhance nature recovery, biodiversity and is making meaningful reductions in our carbon emissions. Further detail of our a(#ivities is contained witru'n our Impact ReporL which is available on our website. d. Other aclivlties undertaken by Flold Studles Councll Field Stu¢fies 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 accomm¢xlation is not required for use or able to be used in delivering Field Sti*Jies Council's charitable obFcttves. One of the responses to the financial pressures on Field Studies Council was to increase signifiCan￿Y ttE altemats've uses of its properties particularty in peak holiday time. In 2024 income generated from non-charitable activtties was £1.4m 12023.. £1.2ml. which resulted in a donation from FSC Trajing Ltd to Field Stud￿$ Council of £167.156 (2023: £79,758) towards achieving the Chariws oW"ves. Field Studies Council also assimilated a tumkey opportunty in November 2024 through Ihe acguisition of Hire A Canoe Ltd, a successful enterprise opèrats'ng in Shropshire This wll expand our offer through our field centre in Shrewsbury as well as opening up new markets for the organisation in the Shropshire area. e. Plans fDr the future In 2022. the Oroanisation dO￿lop￿d a T￿￿year Plan - Road to 2032. after signtficant con4ultation with key stakeholders. The plan established 8 dear strategic goals for 2032. ￿ttic￿ are.. To have a r￿lient and rO￿st fjnanaal ¢Jperatrng mouel thal wll enable the generation ot cash reserves sufficient to sustain regular investment in staff, systems. assets and partnership8. for the fulfilment of our ch8ntable ot4'eCts. To have a residential estate configured to offer a gateway to high value landscapes that enables the delriery of a qualty customer expe￿en￿. To oioneer and deliver leaming for irbcreasing numbers of Deople and more dNerse audiences extending our reach with a Field Studies Coun¢il branded experien￿ across the UK with immersive, inclusive, outdoor expenences available wthin an hour of 80% of the population. Page 7 FIELD STUDIES COUNCIL IA company Iimnea ty guaranTrei TRUSTEES, REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and activities (contlnued) To have a balanced and resilient product portfolio to miligate our risk exposure to ch3ngg9 in our main areas of business. and to help us meet our charitsble objects in other ways. as customer demand and markets change. To have an established netrK*k of supporters, d￿or$. staff and student alumni who campaign on behalf of Field Studies Council, suppJting our position as the ￿adIng prov￿er of acrAssible 0￿dOor leaming c￿ribU￿.ng to biojiversity and dimate change literacy. To have a brand wnich will be widety recognise(J, synonymoJs wtth qualty and credibilty, givirTrg us new OFPOrtunities to access custonws. dws. partners and Govemments. To ensure that the protection arKI preser¥ation of the natura environment arKI suslainable practices are visibly embedded within Field Stud*s c￿￿1.8 ethos and ￿lUeS and demonstrat￿ in rKactice. To deliver our products and services utilising a mixed economy of highly motivated and well trained stsff aThl volunteers de[10￿ and ￿ulpr￿d to suprort <)ur leading rose in the sectors we are part of. It also identtfied key areas of opwtunity. some of wtmch are: Gruwth in our rK>n-residential education offer. Further expansion of our Trading activits"es. A clear foothold in the Adutt Leaming market. Inueased fundraising work with our supporters arKI partners In 2024. Tnjstees and Management completed the prcKess of producing of our 2025-2030 Stratogy. A serie5 of workshops with key stakeholders. including staff, were undertaken in the latter part of 2023 and through 2024. We launched our new strategy in January 2025. The Strategy identifies four clear strands of activ￿￿, all interrelated but creating specffic pillars to build upon, and th¢gTre will be our &yoar Stratagic prioritios. Prlority Focus We strive for a sustainable financial model to invest in our people, property, and processej to deliver a diverse product portfolio that mitigate5 risk and f ulfils our charitable goals. We aim to be a leading provider of environmental outdoor learning, expanding our reach to diverse audiences through great quality learning experiences. We aim to build a powerful network of advocates- alumni, staff, donors, and sUPPOrters to champion us as the leader in environmental outdoor leaming, and securing broader support for our mission. We will ensure that the protection and weservation of the natural environment and sustainable practices are visibly embedded within niir pthn% 2nd values and demonstrated in practice. Resilience Reach Recognition Recovery Page 8 FIELD STUDIES COUNCIL IA company Ilmlted by gtsarantse) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and actlvltles Iconllnued) f. Employees, Assoclate Tutor3 and volunteers Field Sludies CourKil's W￿fI)rCe Gor6ists mainty of fu114ime and part4ime employees and is supplemented by self-employed freelancers. a mix of self-employed and casual assooate tutors. and volunteers (including the President Vice-Presidents and Trustees). The volunteers are important to Field Studies Council in relation lo its govemance and delivery of its Gharitsble objects"ves. Volunteers donate their ts.me and expertise al some of our centres, often in developing and mainlaining our centre habitats. We enrolled 7 new Trainee Tutors during 2024, providing vital opportunities for people to enter the sector. In 2024 the Group employed on average 384 people (2023: 389), approximately 65% fv11- ts'me and 350A part- time. The Group employed more women than men. As at 5 AprFI 2024 vthen the Gender Pay Gap Review was conducted the differences between pay for men and women as reported for 2024 vtss Mean laverage) 12.06° (2023. 15.41%) and Median (midpoint) 1.98% {2023. 3.85%). The average number of employees {full-lime equivalertsl employed durirvj 2024 Wds 297 (2023.. 308), Further ¢*tsils are disclosed in Note 13 to the Financial Statements. Employee Pay Field St￿th'eS Council and FSC Traying Ltd operate a sakgry baThYing scale for all staff. Each posl has incremental points relating to it: progression to the next point level depends on sab"sfactory pèrformance. Thè grade and correspondlng salary lor all staff has t￿n deiemined through a HAY {Korn Ferryi job evaluatlon exercise. Field Studies Council operates a 5&scale point fange in the banding structure. Field Studies Council pays all employees. except Apprentices. at Sca￿ point 4 Iwhith is as a minimum the 21 and over National Minimum Wage ratel or above Based on a minimum staring point of 4. the top scde point is 14.7 (2023.. 14.0) limes the lowest scale w'nt wthin a 5>p(H'nt range. We ￿VIeW salaries each yeaf to assess wthether any cOst￿-11vIng increase or changes to the National Minimum Wage are needed. In April 2024 we applie(I the increase to NMW. as announced by Government, which was 9.4Yo for the over 21 hourly rate of pay. We also maintsined our agreed prinople of guaranteeing a minimum 20/0 differential behveen all pay scales. Trerefore, despite the ongoing finanaal pressures due to the impact of the C03t-of-living crisis. stubbornly high interest rates and inflationary costs. all staff on pay scale 18 or below lover 700h of total posts) receive(l an increase in their hourty rate of pay. in line wrth NNW increases. All other p05ts received a 4% Cost of Livng pay award. In addth￿. annual ir)crementsl irueases were awarded to eligible members of staff. Further infomiatron on remuneration mngements for Key Management Personnel is induded in Note 13 to the Financial Statements. Empioyrnent of Dlsabled Persons Fiéld Studies Council has detsiled polictes in ￿lab"on to all aspects of personnel matters including an equal opportunities policy which estsblishes fair employThenl practices in the recruitment, selection, retention. training, career development and promotson of disabled staff. The EDI Working Group completed an Accessibilrty Audlt for all public access areas wthin our buildings to Identsfy any improvemenls Ihat could be made io enhance the customerexperience in 2023 and work began in 2024 to address some of the improvements identified. Page g FIELD STUDIES COUNCIL (A company Ilmlted by guarantse) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Objectivès and a¢tlvltles Icontlnued) COlleag￿e development Field Studies Council believes strongly in the devdopment and ￿E1[are of all colleagues. 2024 saw the developrnent of our new People Roath¢ap Klentiffied six keyworkstreams to focus on. The People Roadfflap is a key enabler of ¢JJr organisational straegy. At lis heart. li is about ensuring that we have the right people with the right s￿lIS in the right place, at the righl tTrme. and at the right cost - to meet both current needs and future demands. Each of the People Roadmap workstreams supports us in building a motivated. skilled, and adaptable workforce that Gan deliver hvjh-quaiity outwm¢a, r¢¥pond to thangc. and contributc to th¢ long term su6tainabi141y of Fiald Studies Council. Be an Employer of Choice". This w)rkstream focuses on how we attrart and retain talent. By building our reputation as a great place to work, we reduce recrurtmenl costs, retain kn￿edge, and ensure continuity of service- all of whith contribute directly to operational re5ilignco and eff8Ctrveness. Nurture and Grow Our Talent Investing in learning and development equips our people wth the skills Ihey need to thrive now and in Ihe future. This is ￿ntral to ojr atH"lty to innovate, remain relevant, and meet the ev￿ving needs of our cust(Yners. Inspire, Motlvate and Engage Our Staff.. Engaged teams are more productive, ueative. and commilled. This workstream supports motsvation and connection to Ouf purpose- helping us deliver a consistently high-qualty expenence for tt)e people arKI communitÉes we seNe. Reward and R@cognlse Our Staff.. Recognising and rewarding great work not only builds morale but also improves performance, retents"c￿. and faimess. This contributes to a culture where people feel valued and a￿ mofe likely to go above ancl beJty)d. Embrace Innovation and Renovatlon.. We need to continU￿Sty improve how we work. This workstrearn enables us to modemise systems and processes, remove inefficiencies. and build a culbjre of curiosity and imwovement- diredly supyorting productivty and long-tem) value for money. Be a Respectful and Incluslve Community Where Evèryone Can Thrive.. This worf(8treBm is fundamental to crealing a safe and supports.ve workplace. I￿lUSIve teams perforni bettei, attract wider talent. and reflect the diverse communib'es we work with- helping us extend our reach and relevance. The People Roadmap is not a standalone intliative. It connects our people practices to long-tem organisational performance - reducing Go*. Fncreasing productsvity. 9rowtn9 capabilty and delivering bott&r outcomos. 11 is about building the capacty. capabilty and culture we need to succeed- and into the future. Pagè 10 FIELD STUDIES COUNCIL IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Objeclfves and activilies Icontlnued) g. Fundraising Field Studies Counal did not ￿rry out any ¥ignfficant fundraising ￿tiVitIeS with the general publiG. However, the website continues to make I￿r tharita>le ststus clear and contsins a dI￿¢t donation ask and an option to make donation at the online SI￿p. During 2024, the Chanty received over £470.000 in donations and grants from various sources and legacies income ￿a$ over £134,000. Fundralslng Standards and Practices As a cnanty wrth a gross income over £1,000.000 for Ihe financBI year ending 31 December 2024, the Field Studies Council is required under se¢tKin 162A of the Charib'es Act 2011 to share how we approach and manage our fundraising activities. Our Appmach to Fundralslng Fundraising at the Fielo Siudies Cour￿] is led emi.rety by our in-house ieam. We do not use extemal agancies, professional fundraisers, or commercial partners. Instead we focus on builth'ng genuine relationships with broad raroe of slU￿rterS - from in¢SvMluals and families to trusts, foundations. statutory funders. companiÉ8 and legacy donors. Our events and campaigns are develcwl to reflect our values and mission, with a strong focus on transparancy and long-tem impact. Voluntary Schemes and Standards We are registered with the Fundraisiro Regulator and fdbw the Code of Fundraising Practice. Our fundraising staff are trained and kept up to date with the Code and our internal policEs to ensure we m*t high standards accross all our aclivty. Compllance ￿ Stsndafds We're pleased to report that there were no failures to comply bmth the Code of Fundraising Prxtice or any other standards in the year ending 31 December 2024. Monltorlng of Fundraising Activities Because all our fundraising 1$ done in-house, we have direct ovwsight of all our work. Our processes include regular team check-ins. review meetngs. arKI trustee reporting. so V￿ Can ensure our fundraising is ethical, legal, and effective. Fundralslng Compalnts We take supporter feedback $erK¥usty and view rt as an opportunty to improve. We received no ¢omplaint8 about ourfundraising during 2024. ProtectlThJ Vulnerable People We are commttted to @nsuring that our fundraising is respecthjl and sensib.ve to everyone. Our t8am is trained to recognise signs of vulnerabilty and to respond appropriately. We never place pressure on anyone to give and take care to avoid unwanted or peNsient contact. We keep comrnunicats'on preferences up to dale and make it easy for Feople to get In touch wtih us to ttbange fthi or is tt)ey hear from us. Page11 FIELD STUDIES COUNCIL (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Oblectlv8s and aGtlvitlos {Gonllnued) h. Grant4naking Grants fcf Schools launched in 2022 with over 150 sclwls applsing for an environmental education grant paid over three years to support day or rewdentsal outdoor leaming. The applicab.ons were then screened against qualifying criteria and any unsuccesslul applicants offered a booknng incentive. The grant is a fixed amount per school for day or residentsal courses. Tris ensures schcols V4ill have ffinancial support to a￿ange environmental education for muttiple year groups. rather than just one. arKI unite school dasses in shared experiences. 2023 saw the highest tske up of the ￿ant *iih 49 sC1KK￿S and 1,659 students attending a day or ￿SidentIal Field Centre. Going forward the￿ has been a dedine in schwls tsking up the 2nd and 3rd year of the grant with the rnalomty Statln9 ITuea5e in w5ts uf 1[an5F￿. GDSt uf liviiw iii Uie leadiing stéff impaGtin9 their decision. Further bc￿kIng5 are planned for 2025. vthich vill be the final year of the mulii-year offerings. In 2025 we will be trialling a new model for the progranme which is designed to offer a higher level of support to the most disadvania9ed pupils. Page 12 FIELD STUDIES COUNCIL IA company Ilmlted by guaranteo) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DEGEMBER 2024 ObJe¢tlv¢s and actlvllles Icontlnuedl l. Values refresh We launched our refreshed values in 2024. following signfficant consutstion with key stakeholder¥ through 2023. The values refiect who we are as an Organisatson and are fijlty embedded across the Charity. LET'S and grow Inspire action for the Work as a Environment Deliver great Service The values identfy core behaviours which enable the Charity to meet its Charitsble objectives. Value Core Behaviours We deliver experiences that develop environmental understanding and skills. We use evidence to learn. adapt and innovate. Learning We inspire action through our knowledge and passion. We nurture connertions with nature and landscape that enhance wellbeing. Environment We are welcoming and inclustve. acting with trust. care and respect. We lead and collaborate. Teamwork We have customers at heart and deliver 8reat quality service. We use our resources efficiently for greatest impact. Sendice Page 13 FIELD STUDIES COUNCIL {A company limited by guarantee) TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Strategic report Achlevements and perfonnance . Overview Our primary strategic goal. in 2024, was to con￿ntrate Dn Dur plans for the next 5 years and strengthen the Charity's opefations. This report and the financial statements show steps taken by Ihe Charity to achieve this. Residenbal activity has started to suffer across the sector as cost of Itving pressures have impacted on affordability for customers to attend Ira(J￿￿al resluentyal fieldw￿ opportuntties. We have wJrked lo increase our reath through different avenues. wth increased emphasis on Adult Professional Learning and wider outreach opportunities. In all. we continue to make an imwrtanl contrFbution towards achieving our charitable purposes, described belN. b. A¢hl8vements and perfornmnce The organisational structure. which vrds envisaged through the plans Gontained within the 2020-2025 slrate9y, continues to deliver the benefits amed for and is helping lo strengthen Field Studies Council's overall perfOrrn￿￿. The contraction in the number of operatÉng l¢xaticns and the move to a more seasonal staffing model has helped to reduce expendrture, %￿lIst the acceleration of both the dNersification in producl offering in Adult Leaming and the increased use of existing locations in tradrb"onally non-education months, has helped to generate additional revenue streams to compliment the core charitable activits"es. The culrnination of these thanges to the operating model have resulted in an Oper*ing Surplus of £40k for the year, despite the signFficant turbulence of economic unease across the UK. . Measures for the dellvery of Fleld Studles CounGil's Gharitajle purposes Field Studies Council's #ttivitiog, mo9￿red in ntJmw7cg1 forni. for the ftirthprnnr&. nf rnjr rhArt12ble purpoxÈs are summarised as: 2024 139,515 57,218 75.609 22.313 2.4M 173,250 89,71 5,015 1.554 1.7M 2023 131,124 56.671 74.059 16.997 Leamers attending Field Studte5 Council uwrses at o(r locations Leamers.. resHYentg1 Leamers.. day Nisits Leamers.. SLthidised Leamer IKJurs {excluding online) Visitor n￿hIS Visitor days Inc￿￿esidentIal ￿[Y at ow I(￿*11￿8) Virtual I￿rning ua Biolinks and Eco skillslBi(xli*rnity Sctial ff￿1a posts People rwhed 169.899 107,169 3.269 1.909 Leamers are individuals who attended a course or event provided by Field Studies Council. We aim to work with the widest range of *mers with a lo creating benefit for the ¥•ider society as a whole. The Field Studies Council Group's Vision for 2024 contains three key objectives designed to inspire everyone to be curio￿, knowledgeable. passionate and canng about our envronment.. Get People Outdoors, Provide High- Quality OUtd￿r Learning. Advocate ￿staInab11ty. but with an underlwng obiedive to Encourage Wellbeing. Page 14 FIELD STUDIES COUNCIL (A company Ilmrted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Strateglc report Icontlnued) Achievements and perforniance Icontinued) Despite the turmoil of recent years. stailng with the Covid-19 pandemic. but continuing with the negative impacts of Brexit, the Wars in Ukraine and Gaza. significant E¢onomi¢ tumioil and the challenges that these events have created, we believe these key objectives of the Strategy remain as relevant today as they did in 2019. Each objective identifies *￿Ik$treamS to fatilitate th@ ddivw of thè overall strategy. ObJe¢llv• 1: Get People Outdoorn- Field Studies Cwncil engages the wid8St range of people by.. Conb'nuing our work with sch(K)Is. universrties and professionals to increase access to ethjcational and learning opportunities Pursuing strategic partnerships and opp￿lunt￿.es that enable people to access our activil'es. Protnoting Itfelong leaming QPP)rtunities to attract new peO￿e to Field Sludies Council and oui field Cenlres. Infiuencing nab'onal decisior￿MakeTS and developing the ￿ryder agenda for outdoor leaming. Objective 2: Provide Hlgh4uallty Outdoor Learning - Field Studies Council provides excellent courses, matsnals and opportuniti.es for all people and abilities by.. Manlaining a neknrk of field centres expert stsff hosting highquality education progr8mmes. Usng our expertise to develop e￿sting and new infornial edU&￿'On opportunib'es to link people, nature and the outdoors. Developing new ouldoor educatson opportunities for people in their local environment; Producing excellent. exciting leaming resources. Influencing nab'onal decision-makers to ensure outdoor leaming is included in school curricula. Objectlve 3: Advocate Sustainabiltty - Field StLHiies Council promotes sustainable approaches in all as￿5 ol our work by: Investing in the long-temi viability of our leaming and educabon programmes, field centres and staff. Promoty"ng environmental sustainaknlty in our field centres and strmng to minimise our environmental footprint. Encouraging sustainable lifestyles Ihr(KJgh a grÈatÈr understanding. carè and rÈspÈct for the I)Utdc￿r environment and nature. Influencing national decision-makers to develop the widest agerKla for environmental sustainability. Page 15 FIELD STUDIES COUNCIL (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Stratsglc report {continuod) Financlal revlew a. Key Financial Performance Indlcators Field Studies Council key perfomiance indicators in this respect are.. 2024 2023 su￿￿S/(Dencll) Income - Total Income . Enur0nff￿ Educ*.￿ Garses 164.510 18,669.723 15,843.370 18,629,421 10.741.372 (828.859) 16,099,222 3.766,543 1.738.496 38.497 17.529.957 14.652.237 16.762.576 9.914.779 (762.260) 15,934.704 4,751.345 1.846.573 ExpendFiure- Tcrt Expendilure- Employees Net Current Assetsl(Liabilities> at Y￿ end Net assets at year end Cash at year end Loan Detrt at year end Employ￿ - FTE (anrlualised 297 Further infomiation on financial pertOfmafKe is given In the financial rthfjew belryw. Ovèrvlow Income is activty driven. derived mainly from payments made ft)r rts environmental education courses principally by schoc4 groups an¢ universty groups (2024.. £15.8m. 2023". £14.6m). In a typiral year. the fX)urses incotne is greatest In the March to June and September to November periods. As a result. cash tends to be at its lowest in the first quarter and builds up to a in late June and falls thereafter. Maintaining sufficient liquid cash levels is a priority as rt helps us to effectively plan reinvestrnent actNity into our Iccabons, with a move towards achieving Carbon reduction targets. our delivery of our Nature Recovery plans, whilst also enhancing the customer experience through qualty Servi￿. teaching f8Glib"es and aGcommodation standards. Our reinvestrnenl and improvement plans do require a degree of upfront cash commilment. The cash balance at the year-end was £3.7m12023.' £4.7ml. Expenditure is, In contrast. relativety steady rn￿th ty month, being manly staff costs and the costs of mainlainiry. oFEtating arKI insuring estate. allows for accurate working caytal requ1￿ment forecasting for a mininum of six months ahead. Field Studies Council does r￿1 have a ￿gnffiCant endTh4rynent fvr￿ b*iih ¥*iich to finance its adivities. To finance new developments and major maintenance, repairs and capital improvements. Field Studies Council relies on generatsrs. over ts"me. an annual surpbJs of income over expenditiKe. Page 16 FIELD STUDIES COUNCIL IA company Ilmtted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 b. FlnanGlal posltion at 31 December 2024 Reserves and total net assets were £16.1 m (2023." £15.9rn) and net cu￿ent liabilrties were £0.8m (2023". £0.8ml. The net cuffent liabilib.es amount is primarily as a result of deposits received from customers tor course bookings in 2025 (Nole 21). Fixed assets w￿e £18.5m (2023." £18.4ml-" the change being ¢Jue, principally, to in¢rea5e5 in the value of our investments. A not￿le decrease in Tangible Asset Value was the impairment charge to leasehold property at Flalford Mill. Cu￿ent assets were £6.4m 12023.. £6 4m). ir￿lUding cash at bank of £3.7m 12023 £4.7m). and current liabilities were £7.2m (2023.. £7.2m). For 2024 income exceeded expenditure by £0.04m {2023.. £0.8ml. Totsl income was £18.7Th 12023.. £17.5ml. ExpenditLxe was £18.6m (2023. £16.7ml. The expendrture amount inctudes the impaimient charge for Flalford Mill of £277k Income from cttarita￿e acliwties increased to £15.8m {2023'. £14.6ml. Income from Donations and Grants was £0.6m (2023: £0.9m). c. Golng Concern After makn'ng appropriate enquiries, ￿ Trustee8 have a reasonable expectation that Field Studies Council has adequate resources to continue in owational existence for the forèseeable future vthich for thi5 purpose means the period of 12 months from the date these financial statements are approved. For this reason, they continue to adopt the 'going concem, basis in preparing the finanoal ststeM￿ts. Further details regarding the adoption of the going concem basis can be found ￿ note 2.2 of the financial ststements. d. Reserves Pollcy Field Studies Council holds ￿erVeS for purposes of ensuring the sustainabilty of Field Studies Council's mission its ongoing operati¢￿s JKI to provide a source of intemal funds for organisalional prioritie5. To achieve this. reserves are estirnate(l tsklng inlo account analysis of strateglc rlsKs lo the Field Studles Councll and these risks are reviewed on a regular basis. The nature of our work is such that we have conlraclual commitments to those who visit our leaming locats.ons somets.mes extending for longer than a year. Therefore, the risks k)r which reserves are requiied are those related to bus￿esS conb'nuity including budget risk. working capital and excepts.onal costs. The Trustees have undertaken a review of these risks and decided that the appropriale level of reserves requiied rs 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 feserves as measured by general funds excluding fixed assets and designated funds was a deficit of £0.5m as at 31 st December 2024 {2023'. £0.7m deficrtl This deficrt is a result of the deficits incurred because of the tradirvj restrictions under Covid during 2020 and 2021. Hgwever. we are making stèady progress in recovering the position, having improved from a defiul position £4.9m at the end of 2021, to the current deficit of £0.5m. Field Studies Council holds a numbw of des￿nated fvnds totsllfftg £0.8m as at 31st December 2024 (2023.. £0.7m).' d&tails are given in Note 23 to the Accounts. Total fiJnds held in restricted funds were £0.9m as at 31 December 2024 {2023'. £1.Oml. These a￿ held to be spent in line with funders. wu1￿MentS. o. Materfal Investments Policy Any Spa￿ resources are invested in a range of pooled funds to achieve a retum of at least the rate of inflation so that resoLYces are protected In real terms. Page 17 FIELD STUDIES COUNCIL (A company limlted by guarantse) TRUSTEES. REPORT IcoKnNUEDI FOR THE YEAR eNDED 31 DECEMBER 2024 f. The piincipal rlsks and un¢ortalntles facing Field Studles Councll These. so far as they have been identified, are". the death of or serious injury to one or mor818am8rs. anployees. volunteers or other visitors: changes in education policy. in particular any which remove or reduce the amount of fielthlvork in the curiculum., underinvestment in our existing propwty p￿trO￿O resulling negatsve 1rnpa￿ on customer satisfattlon and safety: not being able to generate a regular annual excess of income over expendrture to fund planned future investment and repay debt OV￿ agreed penods., not maintaining an effective baance bet￿￿ reducing our Carbon emissions and cash res&rves lo fund tne required Invesimeni.. ano malicious attacks reSu￿1n9 in signtficant disnjption to nmnal business activities the possibility of ransom demands (an incrèased risk in 2023). These continue to be the principal rists and uncertainties for Field Studies Counal in 2025. Constanl close and caring attention to he8￿h and safety continues to be a key feature of Fiéld Studies Council's culture operations. We promote a risk benefft approath to leaming outdoors. We contsnue to campaign for fieldwork and OLrtdoor learning to be finnty embedded in the curriculums. A Strate9ic Risk Register is maintsined arKI updated regularly by management and reviewed by the Audit & Risk Management Committee and by the Board. g. Financlal Rlsk Management obJectiv05 and polkles The Trustees have a risk management strategy comprrsing". a regular review of the principa risks and uncertainties that Field Studies Council faces., the establishment of wlicies. systems and pr(Kedures and controls to redu￿ or mitigate the risks identified, and th8 implementstion arvj monitcying of wttedures and controls desgned to minimise or manage any prtential impact should risks materialise. h. Payment practlc•8 and perfommnce The report submitted on 1 February 2023 in respect of the period July to December 2022 showed thal Field Studies Council paid invoices within an average of 45 days wth 66% of invoices paid within 30 days. Field btuaies Council have noi suDmillea a report since Fetsruary 2023. but we have rKJt vui FJaYIli￿1lt practices to the detriment of any SUPFliers since that dale Page 18 FIELD STUDIES COUNCIL IA company Ilmlted by guarantee) TRUSTEES. REPORT ICONTtNUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 . Section 172 (1) statement Section 172 of the Companies Act 20(6 requires a director of a charttabSe company to acl in the way he or she considers, in good faith. would be most likely to achieve the company s cttantable purposes for the public benefit. In doing so. sects'on 172 requires the director to have regard (amongst other matters) to.. the likety consequences of any deasion in the temi. the interests of the companys unployees, the need to f05tei the cornpany s business relatiorbships W[￿ suppliers, Gustomer5 and Others, the impact of the companys operations on the Community and the environment, the desirabilitv of the comDany maintaining a reputakn'on for hgh standards of business cc￿dUCt. and the need to act fairly as between members of the company {together Ihe'se¢tion 172 factors.). The requrement on directors of a commercial company is dfftrenl in Ihat 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 wrth the Comp￿￿5 constitution which limits the company's activities principally to rts charitsble purposes. The circumstances are also dtfferent in ihat usually the directors of a charitatAe company are unpaid volurrteer5 and employees are not eligible to be directors. Protecting and preserbllng the environment is one of Fidd StudEs Counctl's three charitable purposes. The Trustees recognise the Charity's direct responsibilty in Ihis respect as tEing greater than just having regard to the impad of its operations on ihe environment. Organisab'onally Field Studies Couniil embeds a number of the section 172 factors in its govemance and operations. Examples indude= We declared a Climate Emergency and Biodiversity Crisis. bl Our Governar￿ Handbook is deggned to help us maintain a repuiatton for high standards of business conduct in govemance matters. The Govemance Handbook refers spe¢ffically to the section 172 factors sawng that the Board must have regard lo them in a manner consistent with the Chartls purposes. vision and values and available resources and the views of relevant stakeholders. d) We use a fiv￿year strale9ic plan moiiel. so as to PLrt deL751(￿ makirwj in a long-teim Gonlext. This is now also supplemented wrth the 10 year plan, Road to 2032. Staff representatives attend Fieka Studies Council's Board and Board committee meetings to give staff views directly to Trustees. Meeting agendas and papers, exopt confidential items, are made available to all stsff via Field Studies Counco's intranet and via email so that staff can give their views lo the staff reFxesentalive. The Chair reports to staff on Board meetings and the minutes of Board and Board committee meetings are made available. save for confidenb'al items. Board and Board committee decisions are usualty taken wrlti the benefft of briefing papers and the input of senior mana9ers at the meetings. g) W￿kIng groups consists'ng of staff and managers and, in some cases. Trustees meet to develop policy and consider and communicate change in the relevant subj&t area. Page 19 FIELD STUDIES COUNCIL (A Company limlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 In 2024 parts"cular examples of a￿Y1[￿a the section 172 factors include: the likdy Gonsequences of any deusion in the long temi." the launch of the new Values LEfs, the ompletion of the 202&2030 Strategy ¥￿th key stakeholder ￿VOlveMent, officially launched in January 2024, the development of the People Roadmap: b) the interests of the companys employees.. meeting of the Remumration C(Jnmittee wth the purpose of recommending changes to the Board on the staff ￿MUnera￿on policy. keeping all staff infomied of kgy issues through regular weekly emails from the CEO, continuation of regular Pulse Surveys. the launch of the revised values, development of the People Roadmap. utslisation of infographics to de¢iv8r key financial infomiation in a straightforward way. clear onboafding process for Tutors and most SUPPDrt staff, launch of Saary sacnfice cycse to Work scheme. EV lease car scheme and pension scheme, all designed to boost employee take home pay whblsl offering hea￿hlar and groonor modes of trangport and more opportLinitips 10 save for reb'rement . repeate(I dissemination of health and financial offers available through the employee welfare scheme to assist with physical. mental and financial wellbeing:: the need to foster the companys business ￿atiOnshipS wilh suppliers. customers and olhers.. working dcsÈly wtth the organisers of leamer groups to ￿book visrts the intrtKILrtion of enhanc81 custorner feedback tools, fostering relats'¢￿$hIps with bankers to maintsin debt farAlitses. ensunng that payments to suppliers remained wthin agreed terms: d) the impact of the companls orHthns on the communty and the environment: the updated Impact Report. workin9 closdy vnth de5very pathers to hdp people access the outdoors., the desir8bilty of the company maintaining 8 reput&'on for high stsndards of business conduct regular meellngs of the Board and sub-Commrttee5, enhanced content of the Impact report, maintaining Investors In People accreditation. Some of these examples apply to mote than one heading and for most addttional detail is given elsewhere in this Report. Page 20 FIELD STUDIES COUNCIL IA company Ilmlted by guarantse) TRUSTEES. REPORT ICONTINUEDI FQR THE YEAR ENDE[) 31 DEGEMBER 2024 Streamlined Energy and Carbon Reportlng 2024 Eneryy and Carbon Report for Fleld Studles Gouncll (Group) location-bosed Reporting Jan 3)24_ Dec 3Y24 JO￿ 3)23 Dec 2023 Ernis5FQn5 Scope I C02e Em$S￿n5 frcni conibv51Dn ol go- Em0)￿115 ￿01nbi1SI¥)n ol luw lo honsFoI 371.21 371.J4 65 w￿lUd￿g opwolr)n ol lo¥lhp5 EM5$￿n5 fr￿7 Dbreha5éd el￿￿*)￿ S¢opel+2 X17.10 175.16 3Tr.75 947.37 88122 Underlylng enefgy (kwh) lfitsn$6ty R4tb l. toial KoC02e p•rfvmo¥•r 5.974.248.00 5.6a4.900.00 o.osi o.oso 20.90 hrt•Aslty Alo2. tlthl C02• Ilwr•Tr• l*u¢02•lh70r#••l lirtenslty 3. total e02¢ per tkoC02*KusbXrt•rHrA¥*l 0.207 10.81 5.41 7 16 0.198 10.80 s.lp 6.88 Inl•n¥lty t41•1 C02• p•rEu•tOm•f dtyj Ikg(XYknKuits*m•fdty#l lrtt*#9lty rntio 5, t•thl C02¢ per cu#tom•r nlglrt> I￿￿02t￿U￿t01￿￿r￿Iylrt￿I Fath 6,lulal C02• tTlo ofAlI*nd￿S Jan 1124. Dec 2024 Jt)n L23- Oec 2023 Emlssic*ns Scope I C02e t C02è Ei?16sons fvcm conibu5h)ii or Emi5sk?ns frrm combuskn ol tro￿￿1P￿Se_$.- -.. froni ofr)eS W1￿-h ￿ c.omF4Jty own5 U C￿1[￿5 Inclucting opèrijloli ol luclilei EmssKJns fvcm purehosed elei*￿tY Scopel+2 Undertylng energy {kWh) In*n81ty R￿fj. ioial K￿02* p•rf*tsX7•r .1713A 65.￿) 17 10 175.10 o.oi 64Q20 611.90 5.97424& 5,684.900.00 0.03S Int•n*lty r•th 2, t6ts1 C02• p•rllw *r•* IkgC02•Atsor •rn•i 15.12 0.14 727 14.51 0.14 7.49 IDlon<y rath4,fLla1¢02• VfEUSwm•rd•y% IkgCl)h￿•f*•l Imen5ty rathi4totsicou IwJz•KustrNm•r 3.60 Intsns raElo6, tc4al Cole 4.82 4.77 LotaTiDn 8a5EdlK8COZe) &la￿BaSe¢rIK8C¢j2e) A) i. Inten r1¢￿ I, S. 1&2C02e basÈoart Thk4tNlato r 2elGB 0.051 0.034 22.50 15.12 a 1. I&ZC02eba5ed L￿m￿l*jai 2eltuSt(HiWL* Jl O.X17 0.14 1 l. In￿51 raihj 4 * 1&2 C02ebosedcffl 02olCLbSt¢wr*r 10.ai 7,27 5.41 3.&4 F> l. Inten ritk) 4$. 1&2 Cozt FRktslW03eth of*ttth)Jeos1 7.16 4.82 Page 21 FIELD STUDIES COUNCIL (A ¢ompany Ilmlted by guarnntee) TRUSTEES, REPORT ICONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Methodology Field Studies Council qualffies a5 a large ursquoted company for current reporb.ng year Jan 2024- Dec 2024. To report SECR results, GFP fdlows the Greenhouse Gas (GHG) Protocol.. A Corporate Accounting and Reports'ng Standard for GHG accounting and uses an operational control approach. All energy and carbon data reported is sourced from the Pilb) Energy & Carbon platfom. In tris plat10￿, the Field Studies Council monitors 20 sites, which are inciuded wtthin this rewrt. Gas, El￿tric￿Y. Heating oil. Propane, Biomass consumption in kwh was collected from energy and carbon management software. using a mix cl meter r&idings and ￿nsuMPtion data shared by energy suppliers, meter operators and the Field Studies Council team. Fuel consumpb.on in litres from company vehic18 use was collected from fuel receipts at the erKI of the reporting year. Ltres were converted into kwh using fuel converBions fr¢)m tho UK Govamm8nt GHG Raporting." Convorsion Factors 2023.. full set (for advane•d Lisersl for GHG calculations Mileage from employees travelling in the￿ private vehicles for business purposes was collected as part of employee travel expenses at the end of the reporting year. All data in their units were converted into tonnes of carbon dioxide equivalents using Ihe UK Govemment GHG Reporting.. Conversion Factors 2023.. full set {for adVan￿d users). The 2024 set was used as it rep￿SentS Ihe reporting year. Reportlng boundarf08 To report the 2024 emissions. Ihe Studies Gouncil has used an operatronal control approach, where the organisation ￿pOrtS on all SoUr￿S of enwronfflental impact over which it has operational control. The organis8tion has operational contml over 8n operation rf the organisation or one of its subsi¢Jiaries has the full authority to introduce and implement ts operats.ng pdicies at the operatvJn. Scope I gmtsslon5 Unquoted companies and LLPS in scope of SECR are required to report activities for which they are responslble involving the combusti¢)n of gas, or ¢￿suMption of fuel for the purposes of transport only. 8Gope 2 emlsslons Emissions from purclmsed electricity Ur￿u0ted companies and LLPS sccpe of SECR are required to report the annual quantity of energy consumed in the UK resulting from the purchase of eiectn.cty by the company for its own use, including for the purpos95 of transport. Electricrty consumption has been obtained from both laTh4lords' and suppliers, bills where available. For supplies where there wasnl complete 12-month energy usage available, proffile ests'mats'on techniques were used to complete the annual consumption. Lo¢atlon-baGod gmi6sion8 Location-based emissions reporttng reflects the average emissions intensty of the electricity grid where energy is consumed. This apprt)a¢h utilises grid-average emission fact￿5, representing the mix of power generation sources le.g.. fossil fijels. renewables) in a specthc region. For SECR reporting. the locatioTrba$ed method is rgcomm8nded. especialty vh￿n detailed inf¢￿atIOn a￿ut eneTrJy sources is unavailab￿. Market-based emlsslons Market-based emissions rewting offers a more precise approach by considering the emissicfjs intensity of th8 pgr.ifir. slp.rtrif3ty qniirrg. rnntracted by the consumer. This method allows companies to account for renewable energy purchases or othef low atiend all tornmittee n*etin8S. though not as a commillee mert)er 2. JqFF Srssdns lurtiil 20241 and Amartin Chn5tie (from Auvsst )n?ai Alw Ker￿ a5 a thr@ttors ol FSC TradinE tsd. 3 Sraried ès ttystee In Varrh 202 4. star.ed as InJstee In lune 2024 Page 26 FIELD STUDIES COUNCIL (A company limited by gvarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structur•, 9overnance and fflanagefftent (contlnuedl g. Arrangements for Setting the Pay and Remuneratlon of Fleld 5tudles Gouncll's Key Managemont Personnel The Boa￿ of Trustees decides on the starting point and progression of the Chief Executs've's salary (this 15 currently delegated to the Chairl. 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, al the Board or its Finance & Administration Committee. follov•ing recommendations from the Remuneration Committee, decide on any cost-of-living adjuslmenls to the salary bandings. Remuneration for all paid personnel is set in line wtth published salary bandings and the scale points within those bands. Ine empk)ye(I key management perSOnr￿ ar8 1(lenbfied and infornabon on their pay is given in note 13 of the Accounts. Statement of Trustee8' responslblllllos The Twsleès (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, report indudng the Strategic ￿pOrt and the financial statements in accordance with applicalje law and Untted Kingdom Accounllng Stsn¢YarOs {Unlted Ktngdom Generally Accepted Accountlng Practs"cel. Company law requires the Trustees lo prepare financial statements for each financial year. Under the same law, the Board of Trustees has prepared the financial statements in a¢¢ordan¢e with United Kingdom A¢counting standards, comprising FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, and applicable Law (United ￿'ngdorn Generally Accepted Accounting Praciic2). Under company law. the Trustees rn￿1 rK)t approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of Field Studies Council and the Group and the incoming resources and application of resources. including their income and expenditure. for that period. In prepanng these fin￿claI statements. the Trustees are required to: select suitable accounting policies and then apply them ¢onsistenty; observe the methods and principles of the Charibes SORP IFRS 102): md(e judgments and accounting estimates that are rea50n&le and prudent.. stale whether applicable UK A¢¢ounting Stsndards IFRS 102) have been followed, subject to any material departures disclosed and eX￿a￿led in the financial statements". prepare the financial statements on the going concem basis unless it is inappropriate to presume Ihal the Group will continue in trttsiness. The Trustees are responsible for Field Studies CouncFI keeping adequale accounting records that are sufficienl lo sh¢)w 3id explain its transactions. to disclose wtth reasonable acGuraGy at any time its financial position at that time and lo enable them to ensure that the financial statements ci)mply wth the Companies Act 2006 and other applicable law. The Oirectors of FSC Trading Ltd are responsible for rt keeping adequate accounting records. The Trustees in relation to Field Studes Council and the Directors of FSC Tradin9 Lld and Hire A Canoe Ltd in relation to those companies are also responsible for safeguardir¥J rts assets and hence for taking reasonable steps for the prevention and detection of fraud and other Irregulari￿S. Page 27 FIELD STufAES COUNCIL (A company Ilmlted by guarante•) TRUSTEES. REPORT {CONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 Dl8clo8urn of Informatlon to audltorn Each of the pers(M)s are Trustees at ￿ ts.me wh8n Trust￿5. repm is approved has conflnned that". so far as that Trustee is wJe. th¥e is no relevant audit infomiation of which the charitable group's a￿￿or¥ are unaware, and that Trustee has tsken all thè st•ps that ought to have been taken as a Trustee in ordèr to be 8ware of ary relevant audr( inform&"on and to ￿tabliSh tr￿ the charitable gTDUP'5 auditor8 are aware of that inl3rmation. Audltorn WR Partners have inthcated ts'r willrynes8 to continuo in office. Approved ty the Board of Trustees and swed on behalf ol the Trustees by: Jeff Slssons Chair of Trustees Date: 17July 2025 Page 28 FIELD STUDIES COUNCIL IA company Ilmited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL Oplnlon We have audsted the finanoal ststernents of Field Studies Council (the 'parent charitablè cornpany,) and its subsidiaries (the 'group') for the year ended 31 December 2024 comprise the Consolidated Statement of Financial Activities, the Consolidated balance sheet. the Company balance sheet, the Consolidated statement of cash flow5 and the related notes, including a summary of signifi￿t accounting policies. The financial reporting framework that has been appl￿ in th￿r preparation is applicable law and United Kingdom Accounting standards, induding Financial Repo￿ng Standard 102 The Financial Reporting Standard applicable in the UK and Repthlic of Ireland. (United Kingdom Generally Accepted Accwnting Practice). In our opinion the financial ststements.. give a true and fair view of the state of the Group's and of parent charitable ¢ompanWs affairs as al 31 December 2024 and of the Group's incoming resources arKI applicatw of resources, including its income and expenditure for the year th￿ ended". have been properly prepared in accordance *ith United ￿'ngdoM Generally Accepted Accounting P￿tsee.. and ha¥e been prepared in aCCord￿ce wth the requirements cf the Companies Act 2006, the Charities and Tntslee Investment {Scotlandl Act 2005 and regulations 6 and 8 of the Chariti'es Accounts {Scotland) Regulations 2006. Basis forownlon We ¢onducted our audtt in accordance with Intemational Standards on Auditi"n9 (UK) {ISA¥ (UK}} and applicable law. Our responsibilities under those standards are fijrther describèd in the Auditors, responsibilities for the audit of the fin￿cial statements sects'on of our report. We are independent of the Group in accordance with the ethical requirements that are relevant lo our audtt of the financial statements in the United ￿ngdOrn. including the Financial Reporting Council's Ethicd Standard. and have fulfilled our other ethical responsibilities in accordanc6 with th9Sg rgquiroments. We believe that the audit evidence have obtained is sufficient and appropriate to prowde a basis for our opin￿. Conclusions relatlng to golng conc•rn In auditing Ihe finanual statements. have conclucjed that the Trustees. use of ihe going concern basis of accounting in the preparation of the firHncial statements is appropnate. Based on the work we have performed. ￿ have not identified any material uncertaintses relats'ng to events or ¢onditions that, indNidually or collectwely, may cast sontficant doubt on the Group's or the parent charitable companV5 abilty to continue as a g￿n9 concem for a period of a least twelve months from when the financial statements are authonsed for issue. Our responsibilities and the responsibilities of the Trustees V•ith respect to g(x'ng concem are described in the relevant sections of this report Page 29 FIELD STUDIES COUNCIL IA company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL (CONTINUED) Other Informatlon The other infomiation comprises the infomiation indLKled in the Annual report other than the financial ststements and our Auditors, report thereon. The Trustees are responsib￿ for the other infomiation contained wtlhin the Annual report. Our o￿nIOn on the financAal statements does not cover the other infomiab.on and, except lo the extent otherwise eXplic￿Y stated in ow report, do not express any forn of assurance conclusion thereon. Our responsibility is to read the other infomation and. in doing 50. consider whether the other informalion is materially inconsistent wjth the financial statements or our knThledg8 obtained in the course of the audit, or otherwise appears to be materially misstated. 11 ￿ identfy such material inconsistencies or apparent material misstaternents. we are required to determine whether this gives rise to a material misstatgmènt in the finaneial statements themselves. If. based ￿ the work ve have performed, conclLbde thal there is a material misstatement of this other infomiatiory ¥￿ are ￿Quired to report that facl. We have nothing to re￿ in this regwd. Oplnlon on other matters prnscrlbul by tho Companles Act 2006 In our opinion, based on the work unthrtak8n in the course of ts audit.. Ihe 1nfomiab.on given in the Ttustees, report includlng Ihe Strategic report foi the finanGial year foi whiGh the financial staternents are prepared is consistent th the financial ststements. the Trustees. report and th9 Strategic report have been prepared in accordan￿ wth spplicgble legal requirements. Matters on *thich are requlred to rnport by exceplion In the light of our kno4*1gJge and urKlefStanding of the chartsble company and rts environment oblained in the course of the audit. we have not id￿tsfied malerial misststements in the Trustees, report including the Strategic report. We have nothing to report in respect of the following matters in relation to Ythich Companies Act 2006 and the Charities Accounts (Scolland) Regulations 21￿ (as amended) rewife us to report to you if. in our opinion.. the parent charitaNe company has not kept adequate and sufficient accounting r￿ordS. or returns adequate for our audit have not been received from branches not visited by us", or the parent charitsble company ffinancial statements are not in agreement viith the accounting records and retums.. or certain disclosures of Trustees, ￿muneratiOn specified by lav are not made.. or liave rK¥l received all the infotmati(fft and explanats"on? bve require for our audiL Page 30 FIELD STUOIES COUNCIL (A Company limited by guarantee} INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FIELD STUDIES COUNCIL ICONnNUEDI Responslbllltles of Irustees As explained more fully in the Trustees. responsi￿li11eS statement. Ihe Trustees (who are also the directors of the tharitable company for the purposes of company law) are ￿sponSible for the preparation of the financial statements ants for being satisfied that they give a true ano fair view. arKI for such intemal control as the Trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or wror. In preparyig the finanual statements. the Trustees are responsible for assessing the Group's and the parent charitable company's abilty to conb'nue as a going concem. disclosing, as applicable. matters related lo going concern using the going concem basis of accoun*'ng unless the Trustees ether intend to liquidate the Group or the parent charttabl• company or to cgaso oporationÈ. or have nD roalistic altgrnab.vo but to do so. Audltorfs responslbilltles for the audft of the financial ststements We have been appointed as auditor under section Hl1)(c) of the Chafities and Trustee Investment (Scotlandl Aci 2005 and under me Companies Act 20￿ and report in accordance with the Act and rebvant regulations made or having effect thereunder. Our objectives are to obtain reasonat4e assuran￿ atX)Lrt ¥thether the financial statements as a vthole are free from material misstatemenl, whether due to fraud or error. and lo issue an Auditors. report that indudes our opinion. Reasonable assurance is a hwh level of assurance. but is not a guarantee that an audit conducted in accordan￿ with ISAS IUKI wll aKYay% detect a material misstatement véhen rt exists. Misstalemenls can arise from fraud or errof and ar• e¢)nsiderod material rf. individualty or in the aggregate. they Gould reasonably be expected lo infiuence the economic d￿lsionS of users taken on the basis of these financial stataments. Irregularitw. including fraud, are inS￿ceS of non￿mplIance laws and regulations. We design procedure8 in line wlh our responsibilib"es, outlined above, to detect mateiol misstatements in respect of irregularities, includin9 Iraud. The extent to which our pr(Kedures are capable of detects.ng irregularities, InGludin9 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 deterniined thal the most S￿nIfiCant afe those that relate to the reporting framewofk {Charities SORP {FRS1Q2}. the Companies Act 2006 and the Charities Accounts {Scotland) Regulations 20061, the relevant tax coynpliance regulations, emplobqnent law, Heath and Safety Regulations and the EU General Data Protects'¢)n Regulation (GDPRI. We understood how the charitable company and group are coMpl￿.ng these frameworks by making enqiiiries of mangg8mont. thog@ chwged with govemane• and thos• r•gpongibl• for 19gal and complianco procedures. We also reviewed board minLrtes to identsfy any recorded instances of irregularity or non compliance that might have a malerial impact on the financial Stat￿ts. We assessed the susceptibility of Ihe Charitable company and group's financial staternents to material misstatement. including how fraud might occur by meeting with key manageTnent and those charged with governan￿ to understand where they c¢)nsidered there was susceptibilty lo fraud. Based on our understanding procedures involved enquiries of management and those charged Mth governance, manual journal entry testing, a5hbook review5 for large and unusual rtems and the challenge of S￿n￿can1 arKounting estimates used in preparing the financial statements. Page 31 FIELD STUDIES COUNCIL IA company limited by guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FIELD STUDIES COUNCILICONTINUEDI Because of the inherent limitations of an audit. there 1$ a risk that we ￿111 not detect all irregularities. including those leajing to a material misstateffent in the financial statemerts or non-compliance with reJulab'on. This risk increases the more that compliance wlh a law or regulalK￿ Is removed from the events and transactions reffected in the financial statements, as we will be less likety to become awa￿ of instances of noTrcompliance. Th8 risk is also greater regarding wregularib.es occurring due io fraud rathÈr than error. as fraud involves intentional concealment, forgery. Coll￿$10n. omissw)n (Y mBrepresentab'on. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. ¥￿￿.fre or .ukJaudttorsres nsibilitses. This descripbon forms part of our Auditors. report. UA• of ollr report This report is made solely to the chartiable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. aTrJ to the tharitable compaws trustees. as a body, In accoraanGe with regulation 10 of the Charilies Accounts (Scotland) Regulath)ns 2006. Our audrt work has been undertaken so that we might state to the CharFlab￿ companys mernbèrs those matters WÈ are required to slate to them in an Audrtors. report and for no olher purpose. To the fullest extent Femitted by law, we do not accept or assume responsibility to anyone other than charita￿e company and rts members. as a body, for our audit work, for this repoF( or for the C￿n￿nS ￿ have formed. Joh Flatcher BA (Honsl FCA {Senh)r statutory audlior) for and on behaEf of WR Partners Chartered Accountants StatutoryAuditors Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG WR Partners are eligible to act as auditots in tem$ of section 1212 of the Companies Ad 2006. Page 32 FIELD STUDIES COUNCIL {A company limited by guarantse) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Not• Income from: Donations and grarrts: Donatsons and legaaes Charitable activiti'es other trading ath"vtb"es Investments Other income 308,480 15.843,370 1.420.919 279,998 516,277 296.722 605.202 15,843,370 1,420,919 284,955 515,277 911,T30 14,652,237 1. 228,059 262,964 468,937 4,957 Total income 18,368,044 301,679 18.669,723 17,529,957 ExpendSture on: Raising fLnds Charttabk acb'vrties 699.931 17.507.166 699,931 17.929.490 624, 324 16,138,252 10 422.324 Total &x￿ndIt￿rè 18,207,097 422.324 18,629.421 16. 762,576 Net Incomellexpendlture) before nel gains on Investments Net gains on invesknents 160,947 117,632 (120.645) 40,302 124,216 767,381 77.116 Net movement In funds 278.579 (114061) 164.518 838,497 Recon¢lllatlon of funds: Total funds brought forward Net mov8ment in funds 14,893,031 278,579 1,041,673 1114,061 15,934,704 164,518 15,096,207 838, 497 Total funds carrled forward 16.171,610 927.612 16.099.222 15,934, 704 The Cong)lidated statement of financi￿ activities indudes all gains and losses rectsjnised in the year. The notes on pages 39 to 79 fom) part ol these financial ststements. Page 33 FIELD STUDIES COUNCIL (A company Ilmlted by gu•rantM) REGISTERED NUPABER: 0412621 GONSOUDATED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Flxed assets Intangible assets Tangible assets InVeStm￿t3 InVestM￿t propety 15 16 18 17 25,422 16,849,051 2.191,650 15.899.821 2,056,473 480,000 18.546.123 78.43¢5,294 Curront assets Stocks Debtor5 Cash at bank and in hand 19 72,602 2.563.721 3,766,543 82,591 1.572.923 4.751,345 6,402,866 6,406,859 Creditors.. amounts fralling due vAthin one year 21 fl,231.726) (7.169, 119) Net curr•nt Ilabllltlo8 (828,869) (762,260) Total as8Ots less currnnt Ilabllllles 17.717.264 17,674,034 Creditors.. amounts falling due after n￿re than one ￿ar (1.61B,042) (1, 739,330) Net a55015 exGludlng pens1￿ as 16,099,222 15,934, 704 Total nel assets 16,099,222 15,934, 704 Page 34 FIELD STUDIES COUNCIL IA company Ilmlt•d by guarant••) REGISTERED NUMBER: 0412621 CONSOUDATED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 2024 2023 Charity funds Restricted funds Unrestn'ctad lurKIs 23 23 927.612 16,171,610 1,041,673 14,893,031 Total fund• 16,099,222 15, 934, 704 The Tru8tees &krKythedge their re$pon$ibilitss for complying the requlrernents of the Act with re8pect to accounts'ng records and preparation of finan(aal statements. The financial Statements ￿*re approved and authorised for issue by the Tru8te88 and slgned on their beh811 by.. Jeff Slssons Chair of Trustee8 Chrt8 Bn)ok Trust Date: 17 July 2025 The notes on pages 39 to 79 f(mi part of Ihese financial statemorrts. Page 35 FIELD STUDIES COUNCIL (A company Ilmliod by guarant••) REGISTERED NUMBER: 0412621 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Flxed a858ts Tangible assets Investments InveStmp￿t property 16 18 17 16,789.061 2,277,073 480,000 15,899,821 2.056, 474 480,000 18,646,124 18,436,295 Current as80ts Stocks Oebtors Cash at bank and in hand 19 20 72.602 1563,720 1766.$43 82.591 1,571,553 4.751,363 6,402.885 6,4Q5,507 Creditors.. amounts falling (trx *Tthin ¢ year 21 (7,231.725) (7. 167, T68) Nat curr•nt Ilabllltles 1828,8601 (762,261) Total •vaets le•8 curr•nt Il•blllll•s 17,717,264 17,6T4,034 Creditors: amounts tslling due after rrnra than one >ear 11.618,0421 (1, 739,330) Total nel assets 16.099,222 15,934, 704 Page 38 FIELD STUDIES COUNCIL {A company Ilmltod by guaranto•) REGISTERED NUMBER: 0412621 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 2024 2023 Charlty funds Restrict& funds Unrestridad funds 23 23 927,612 15,171,610 1.041,673 14.893,031 Total funds 16,099.222 15,934, 704 The Companys net movement in fvnds for the year was £164.518 f2023- £838,497). The TrusÈe5 ackr#Jwledge thelr respMslblllile8 ft)r comptykng the requlrements ol the Act wlth respect to accounting records and preparat￿n offinancial ststements. The financial statements were apwoved and authori￿ for issue by the T[￿￿eS and s19r￿d on their behalf by.. J•ff Sl88on8 Chair of Trustees chrt8 Brook Trustee D8to: 17 July 2025 The note8 on page8 39 to 79 fomi part of these finartial Itatements. Page 37 FIELD STUDIES COUNCIL IA company limlted by guarantse CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows fn)m oporatlng actlvltles Net cash providÈd ty operating artiviiies 27 (148.692) 1,615.543 Cash flows from Investing actlvlties Dividends. interesi and rents from in*striients Procee(ts from the sale of tsngible fixed assets Purchase of tangible fixed assets Purchase ot Iisteo Invesiments 284,966 262, 964 3,220 {916,616) (670, 667) 110,961 (T, 910) 186,4221 Aquisrtion of subsidiaries Net cash u8od In Investlng acllvltles (728,0331 1412,399) Cash fliM8 Irom financlng actfvltlas Repaymerrts of borrov*ryng (108,077) (105,456) Net cash used in Ilnanclng acttvltles (108,OT71 (105,466) Change In cash and cash oqulvalents In th8 year Cash cash equiyaletrts ai the beginning of the yEar {984,802) 1,097,688 4,7S1,345 3, 653, 657 Cash and cash equivalents at the end ol tho year 28 3.766,543 4, 751.345 The fTOte5 on pa9e5 39 lo 79 form part of these finanGial statewnerts Page 38 FIELD STUDIES COUNCIL IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Infonnatlon Field Studies Council {Ihe Companf) is a private compary 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 bèing wound up. the lia￿"l1ty in respect of the guarantee is limited to £1 pef member of the Company. Accounting pollcles 2.1 Basls of proparatlon of financial statements The financial statements have been prepared in accor(lan¢e with the second edition of the Charities SOftP (FRS 102) - AccoiinD"ng and Repjrnng by Chames.. Staiemeni of Recommenae¢J Practice applicable to chanties preparing their accounts in accordance with the second edition Financlal Reporting Stand8rd applica￿￿ in the UK and Republit of Ireland {FRS 1021 issuèd in Octobèr 2019, the Financial Reporting &andard applicable in the UK and Republi¢ of Ireland IFRS 1021, the Companies Act 2006. the Charities and Trustee Investrnent (Scolland) Ad 2005 and regulation 8 of the Charib"e5 AcGount5 {Scotland) Regulations 2006. Field Studies Council meets the defintbon of a publrc benefit entty under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise stated in the relevant accounting poticy. The Consolidat￿1 Ststernent of Financial Activities {SOFAI and Consolidated balance sheet consolidate the financial ststements of the Company and FSC Trading Ltd. a subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken edvantage of the exemption all¢yrted under section 408 of the Companies Act 2006 and has not presented ils Statement of financial actsvities in these financial statements. 2.2 Golng concern The Trust••s continu8 to adopt the going concem basis of accounting in preparing th8 compan￿$ financial statements. In relaknon to these financial ststements, the Trustees have assessed whether the use of the going concem basis of accountirg is appropriate and whether there are any matenal un¢ertainties related lo events or corKJitions thal may cast signrficant doubt Dn the abilty of the company to continue as a going concem. The Trustees made the assessment in respect of the period to 17 July 2026, a period of one year from the date the financial statements are wroved for issue. The Trustees have a rea$Or￿ble expectation that the company has adequate ￿$￿r¢e8 to continue in operational existence fcr the period to 17 July 2026. based in financial terms principally on the financial forecasts for 2025. t￿kin9S data for 2025 and 2026 and the longer-term forecasts produced by management 10 2032. Page 39 FIELD STUDIES COUNCIL (A company Ilmited by gu•rantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢countlng polkles (contlnuod) 2.2 Going concern Icontinued) Whilst the inllalionary yessures across the UK have eased significandy since 2023 and 2024 rates, they have resulted in some ongoing impact on customer bwkings and Field Studies Council is continuing to see a reduCt￿n in the number of pupils able to attend, which is having a negative effect on our primary income %xJrce. Course Fee Income. This downtum was reflected in the company's Budget 101 2025, and the Spting 2025 budget reforecast confirm5 that this rernains the trend. In addition. the October 2024 budget announcements in relation to increases in Employer National Insurance contributs'ons from April 2025 added a significant cost burden to the organisalion As customer priung is fixed 12 months in advance, these increases have had to be absorbed into th8 2025 costs base. It is expected that it *ill tske untsl 2027 to recover this additional taxats¢)n burden, resulting in deficit bottom line relums until 2028. However. balanced with additional income in other areas and cost savings achievable against the current base. a tsjttom-line surplus is experted to be generated by 2029. The organisatlons EBITDA position remains posibve throughout the period 21J25 to 2032, and excluding any capitai investment. we remain in a cash generab.ng position. Field Studies Council is indebted to Bardays Bank in Ihe fofm of a terni loan bvlh an outstanding balance of £1.7m. a$ at the end of June 2025. The c(Thpany is emfident that all repayments will be made in accordance with repayynent schedule. Nevertheless. retum t)ookngs for 2026 remain healthy and as at 30 June 2025. there were already in excess of £8.4m of bookiros in the ￿pelIne, demonstrating a firm demand for our Services. Cash holdings at the end of June 2025 were £5.5m and this is after having repaKI Loan Capital of £0.1 m Sin￿ June 2024 a￿1 having invested in some sonificant propèrty proj￿tS. Twstees arKI Managemerrt are mindful of continuing wider global turnioil, principally the ongoing war in Ukraine. the conflict in Gaza. the decision m8king of the current US President, UK interest rates remaining high at 4.25%. and the impact of poliryes of trie UK Govemment. Fiekj Studies Counol is Gomtnilled to onty sourcing cart)on neutral rnains gas and electricty, despite the premium paKI for trEse Products. In addth'on. swnificant price Iluctuations are still being experienced on wood pellets for biomass boilers. and (Nl. Costs in other areas are expected to increase, primarily for food. The largest expenditure category for Field Studie5 Group remains employment costs. vhjich were forecast at £11.2m. 63% of total forecast expenditure for 2025. The income streams from nonmpany for UK ￿poratiOn tax purposes. knGordingty. the Conipany 1£ potentially exempt from taxats.on in resFert of Ir￿orne or captal gains received within categories ojvered by Chapter 3 P¥t 11 of the Corporab'on Tax Act 2010 or Seth'on 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdu5ively to charitable wrposes. The Company pay5 mat￿la1 amounts in respect of er￿0yets national insurance contributions, value added tax. and for some properties business rates. These are included in expenditure and where appropnate creditors. 2.8 Intangible assets and amortlsatlon Intangible assets are initialty recognised at ￿$t. After recognition, under the cost model, intangibl8 assets are measure(l at cost less any aGcumulated amonisatlon and any accumulated impairment losses. Amortisation is provided cn intangible assets at rates calculated to write off the cost of each asset on a straight4ine basis over its experted useful life. Amortisation is provided on the foll(ywing basis: 20 % straKJht line 2.9 Tanglble fixed a55ets and depreciation Tanqible fixed assets are recognised when future ecmrnic benefits are probable and the cost or value of the asset can be measured rdialyy. Tangible fixed assets are recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost les5 a¢¢umulaled depreciation and any accumulated impairment losses. Al costs incurred lo bring a tsngible fixed asset into its intended working condition should be included in the Measurement of cost. Page 42 FIELD STUDIES COUNCIL (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnued) 19 Tanglble fixed assets and depreclatlon (contlnued) Property Depreciation is provid•d on all propety at rates calculated to vffite the cost or valuation off less their eskn'mated residual value, cwer their expected useful lrfe The major components of the prop&t"es that have s4￿¢￿cantty orfterenl pattems of ¢onsumption of economic beneffts are treated as separate assets and depreaated over their expected useful s¥ennnmie. livp% nn A qtraight linp. hAqÉ< At thp. fAlIn￿ng rAIp*" Com Freehold land Freehold StTUCture Leasehold structure Roof Boilers arKI heatirvJ systen Bathrooms lQ'tchens Emergency lights Flooring A83ets held for sale Ufes Unlimrted Length of lease 30 20 10 20 15 Not depreciated 83 the residual value is considered to be in excess of the NBV (rel*es to previous operating property now held for sale) Component sperMJ on leasehold properties would be the shorter of the remaining lease and the life of the component. Non property, plant and equipment Only ￿ant and equipment costing £500 or more is capitalised. Oepreciats'on is provided on all plant and equipment at ratès calculated to write thé cost or valuation off less their estimated residual valu8, over their expected useful ￿fe on a straight line basis at the following rates.. ears Sa'entffic equipment Motor vehides and br￿S Fumiture and equipment 3-10 3-10 Improvements ivhere there a￿ improvements to properties that are expected to provide incremenlal future benefits. these are capilalised and added to the carying value of the propety, both freehold and leasehold. Any works that do not replace a component or result in an incrementsl futu￿ benefit are Chargèd as expenditure in the Statement of Financial Aciivslies. Page 43 FIELD STUDIES COUNCIL (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pol1cl￿ (conllnued) 2.9 Tangible fixed assets and depreciation (contlnued) Impalrnient As at each reports.ng date, the Company assesses whether there is any indication that an asset may be impaired If there is such an indication and there are shortlalls behveen the carying value of individual ffixed assets an¢ the recoveratJe amount then the shortfall is recognised as an impairment in the Statement of Finanoal AGtivib"es. The Chartties SORP specifies that the ￿0Verable amount of an asset is the highef of its fair value less costs to sdl the asset and its value in use. Field Studies Coun¢il uses value in use when constderinq the recov￿able value of certain Properties. 2.10 Inveslments Fixed asset investments are a fom of financial instrument and are inits'ally reGOgnised at their transaction cost and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured ￿liablY in which case it is measured at cost less impairment. Investment gains and losses. vthelher realised or unrealised. a￿ comts'ned and presented as 'Gainsl{Losses) on Ivestments. in the Consotdated statement of Financial Activities. Investments in subsKliaries are valued at Gost less Provis￿ for impainnent. 2.11 Stocks and work In progr Stocks and work in progress are valu8d at the lower of cost and net realisable value after making due allowance lor obsolele slow-moving stocks. Cost indudes all d1￿ct costs and an appropriate proportson of fixed arKI vanable oVert￿a￿s. 2.12 Debto Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amourrt prepaid net of any trade di¥counls due. 2.13 Cash at bank and In hand Cash at bank and in hand IndLKles cash and Short-temi highly liquid investments with a short maturity of three months ow less fv(Kn ihe date of aGquisttKM or opening of the deposit or sim￿ar a￿Ount. Page 44 FIELD STUDIES COUNCIL (A company Ilmltad by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Gountlng pollcles Icontlnu•d) 2.14 Liabilities and Provisions Liabilrties are recognised when there is an obligation a the 8alance sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement, and the amount of the settlement can be estimated rdiably. abilities are recognised at the amount that the Company anticipates it wll pay to settle the debt or the am¢)unt tl has re￿1Ve0 as aovanced pasTnents for the goods or seprfices it musl provide. Prowsions are measured at the best estimate of the amounts required to settle the obligation. Where the effe¢t of the time value of money is material, the provision is based on the present value of those amounts, discounted at prethtax discount rate that reflects the risks specific lo the liability. The unwindir¥J of the discount 15 recogriised in Ihe Con5didated Stalement of Finanfial Activitie5 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 ￿aCe. 2.15 Financlal Instruments The Group only has financial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financia instruments are initsally recognised at transacbon value and subsequently meesured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using Ihe effective interest method. 2.16 Opernting leases Rentals paFd during the financial under operabng leases are charged to the Consolidated Statemenl of Financial ActNib'es on a straBJht4ine bags over the lease temi. 2.17 Pensions The Group partiopated in tsvo 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 Oefinea contributlon scheme. The pension charge represents the contmbullons payable by the Company to the fund in respect of the year. Employee contnbutsons rates for the year were 7,4% and employer contn'butions were 13%. The Company establishe(18 scheme ¥￿t￿ National Employment Savings Twst in April 2013 from which time it VRS open lo employees. Current ci)ntributions are sel al 5% 9r055 for eniployee5 and 3% for employers. Page 45 FIELD STUDIES COUNCIL IA cofflpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (conllnuedl 2.18 Fund accounting General fun(Js are unresln'cted fijnds which are avail*Jle ft)r use at the discretion of the Twstees in furtherance of the general objects'ves of the Group and which have not been de5ign8led for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purpDses. The aim atmj use of eath designated fund is set out in the notes to the financial statements. Restricted funds are fijnds which are to be used in ac£ordance with specific restrictions imposed by dor￿r$ or which have been raised by the Group for particular purposes. The ￿$t$ of raising and administering such ffijnds are charged against the fund. The 8im and use of each restricted fund is set out in the notes to ￿ financial ststement$. Investment income. gains and losses are allocated to the appropriate fund. Critical accounting estimates and areas of judgment E*imates and judgments are continually evaluated and are based on historical experience and other factors. induding expectstions of fLrture events that are believed to be reascfiable under the cirCumstsn￿. Critical accountt'ng estimates and assumpt'ons.. The Group makes estimates and assumptions conceming the future. The resulting accounting estimates ancl assumptions will. by definibon. seldom equal the related actual reSU￿s. The Group does not have any esb"mates and have not made any assumpb.ons that have a s￿nIfiCant risk of causing a material adJustrnent to the ca￿Y7n9 amwnts of assets and liabiltties within the next financial year. Page 46 FIELD STUDIES COUNCIL IA company Ilmft•d by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Incomè from donatlons and grnnts Unrestricted Restrfcted nds funds 2024 2024 Totsl funds 2024 Total funds 2023 Donatlons and gran1• Gwteral donalions Fryjndation Fund Legacies Frm Grants for Schools Young Darb*in Scholarship Fund Heritage Lottery Fund Biolinks Fo￿6 Foundation Green Infiuencers Climat8 Change LNe grant 68,555 85.379 134.652 19.894 255,502 324,067 85,379 134,652 19,894 40.507 713 128,523 59,561 502,482 40.507 713 15.108 161,064 40,OL 9,070 1.922 Total donatlons and grants 308.480 2￿.722 605,202 917,730 308.480 296.722 605,202 917,730 Totsl 2023 681.340 236.390 917.730 Page 47 FIELD STUDIES COUNCIL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FQR THE YEAR ENDED 31 DECEMBER 2024 Income from charliablo aclfv Tolal funds 2024 Total ftinds 2023 funds 2024 Enrfironmentsl Educati E￿CatsOnal PUblI￿￿ls Projects & Partnerships Transport Lek8ure Course Fees 14.184.498 14,184,498 12,949, 761 462.949 462,949 497, 565 340,442 340,442 372,5T2 411.855 411,655 434. 097 443,626 443,628 398.248 15.843.370 16,843,370 14,652,237 Total 2023 14.652.237 14.652.237 Income from othor tradlng acllvltles Income from non charltable tradlng activities Unrestrlcted funds 2024 Tolal funds 2024 Total funds 2023 Sales Shops Bar Maps and Olhei Publications Accommodation, hire and catering 37,218 43,595 38,696 4,471 1,296.939 37,218 43.695 38.696 4,471 1,296,939 39, 344 43,649 6. 644 1, 138, 452 1,420,919 1,420,919 1, 228, 089 rolal 2023 1.228.089 1,228,089 Page 48 FIELD STUDIES COUNCIL (A CoM￿nY Ilmtt•d by guarnnt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Invo•tm•nt Incom• Unrestrfcted Restrlcted fund3 fvnds 2024 2024 Total lund8 2024 Total funds 2023 IncÉ)me from Invostrnents Bank Interest Received 37.272 242.726 4.957 42.229 242,726 36,447 226,517 279.998 4,957 284,965 262,964 Total 2023 258,265 4,699 262,964 Other Incomlng r•8our Unrestrlcted nds 2024 Total funds 2024 Total funds 2023 Renlals Receivable VAT Recovered sU￿lUs on Disposal of Fixed Assets Ren8wable Heat Incentives irKorne 333,253 80,487 333,253 242,407 86, 784 (6,048) 145. 794 2.850 98,687 98,687 515.277 515.277 468, 937 Tolel 2023 468,937 468.937 Page 49 FIELD STUDIES COUNCIL {A company Ilmtted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 EXpendI￿rg on ralslng funds Other tradlng oxpon808 UnT￿trIcted funds 2024 Total fundi 2024 Tot81 funds 2023 Shop8 Bar Maps & Other PubllGatson3 Accommodall Staff Costs Aérninistration expenses Gost of sales staff costs 41,259 31,364 3,510 11,847 566.472 25.125 20,354 41,259 31,364 3,510 11,847 566,472 25.125 20,364 27, 792 34,315 3,422 25,272 533,523 699.931 699.931 624,324 T¢*812023 624,324 624,324 Page 50 FIELD STUDIES COUIKIL (A company Ilmltod by guarantsa) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. An1￿￿ ol •xp•ndlturo on ch•rftabl• •ctlvltl Summary ty fund type Unrestrkted Restricted funds fund8 2024 20Z4 Total 2024 Tot81 2023 Emronmental Education Educational pu￿1Call0nS Projects & P8rtner8hips Des￿￿&ted Funds Re$trlct8d FurKI$ 17,011,733 426.2 15.107 $4.030 17,011,733 15.369, 604 428.296 513.904 10,107 17,582 64.030 126,566 422,324 110,596 422,324 17,507.166 422.324 17,929,490 16, 138, 252 Total 2023 16,027.656 110.596 16,138,252 Page 51 FIELD STUDIES COUNCIL IA company limlted by guardntso NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Analysb of expenditurn by actlvltles undertaken dlrectty 2024 Support costs 2024 Total funds 2024 Tot81 funds 2023 Environmental Education Educalional Publications Projo¢Lb & Partnerships Designated Funds Reslrtcted Funds 13.817.503 426,312 14.561 54,030 422,324 3.194.230 17.011.733 15,369.604 (161 426,296 513,904 IS.107 17.582 54,030 126,566 422.324 110,596 14,734.730 3.194,760 17.929,410 16, 138, 252 Total 2023 13,629.497 2.508.755 16, 138.252 Anatysls of dlrect ¢osts Envlronmentsl Educatlonal Education Publlcations 2024 2024 Projects a Partnerships 2024 Deslgnated Funds 2024 stsff costs 7.369,551 673,757 1.097.489 214.341 2,978 123 46 Depreciation Course5 3,400 1.660 52,769 Publications 117,654 PtDjeGt5 Travel and Tfansport Equipmeni and Property Office and Miscellaneous Marketing and Publioty Impaiment of fixed assets 564,221 2.3aO,970 1,165,019 289.851 276,645 977 30,G27 55,983 3.629 7,261 2,240 1,215 13,817,503 426.312 14,561 54,030 Total 2023 12.862.496 513.364 16,475 126,566 Page 52 FIELD STUDIES COUNCIL IA company Ilmllad by gu•rnnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. An*￿￿ of expendltur• by 4ctlvlll•8 (contlnu•d) Analysls of dlrect Cogts (conlknued) Rostrlcted Funds 2024 Total funds 2024 Total funds 2023 Slaf costs Depreclats'on Courses Publication$ Prqects T￿e1 arKI Transport Equipment and Propety OffKe and Miscellaneous Marketing and Publ Impaimient of fixed a55ets Tl,894 22,937 314,398 1,035 7,661,832 703,072 1,466,43 118,68 7,258, 7 70 702,971 1.208.036 135,462 4, 750 548, 100 1,847,249 1, 189,597 360,658 374,5Q4 3.273 1.254 568N71 2,420,112 1.223,242 296.228 276.846 1.533 422.324 14,734,730 13, 629,497 Totsl 2023 110,596 13,629,497 Page 53 FIELD STUDIES COUNCIL IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Anatysls of expendlture by actlvftles (contlnued) Anatysis of support costs Envlronm8ntal Educational Projects & Education Publlcatlons Partnerships 2024 2024 2024 Total funds 2024 Total funds 2023 Staff costs Depreciabon CLwrses Travel and Transport Equipmenl and Property Office and Miscellaneous 2,492,714 47.667 2.326 60.913 2,492,714 47.667 2,310 61.459 90,064 211,626 2,123,086 42.197 (1,909) 61,003 (94, 934) 185, 717 217 158.252 (16) 211,526 E￿catIOnal Development Loan Interest Payabie Bad Debt G¢JVe[nan￿ costs 151.987 63.220 73,813 151.987 63.220 73,813 35, 126 3.194.230 (16) 3,194.760 2,508, 755 Total 2023 2.507. 108 7.107 2,￿8, 755 12. Audltors, remuneration 2024 2023 Fees PaYa￿e to the Companvs auditors for the audit of the Companls annual accounts 17,550 17,550 Fees payable to the Companls auditors and its associates i) respect ot. The auditing of the accounts of the subsid￿ry company Taxation compliance serrfices All noTraudit seNices not induded above 4,800 2,000 5.300 2,000 5,300 Page 54 FIELD STUDIES COUKIL {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIIBER 2024 13. Stsff costs Group 2024 Group 2023 Company 2024 Comp8ny 2023 Wages and salaries Social security costs EmplO￿r provided pension schemes 9,655,990 714,25e 371.124 8.872. 764 676,070 365.945 6,020,149 376,293 114,627 5,478, 769 374,472 108. 739 10.741,372 9.914.779 6.511.069 5,961,980 Included within the above stsff costs. there are redundancy costs of £30.864 {2023.' £Nil) paid OLrt to 2 employees. In the event that after the balar￿ sheet date. a member of the Group terminates the employment of any of Its staff, it may be obliged to pay Wdges and salaries during the relevant noti￿ period and in appropriate cases make redundancy payments. No amount is included in ¢reditots as a liability in respect of Ihose obligations. The average number of pers￿$ employed by the Company during the year was as follows.. Group 2024 Group 2023 Company 2024 No. Company 2023 No. 389 261 253 average headcount expressed as full-time ewNalents was.. Group 2024 No. Group 2023 No. 297 308 Page 55 FIELD STUDIES COUNCIL IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Staff costs Icontinued) The number trf einpknyees 7hthose employEe beneffts (eKdLJdiThJ empbytr pension Gosts) exceeded £60.000 was: Group 2024 No. Group 2023 No. In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £90,001- £100,000 In the band £1￿,001- £110.000 In ihe band £140.001- £150,000 In the band £1SO.001 - £160.000 Remuneration and benefits reoived by key marwent personnel.. Chief executiv8 is the highest paid effl￿yee. In 2024 the salary paid to him was £159,67312023'. £146.551). In addFb'on to the salary. the Company pa￿ £20.75712023.' £13.9781 towards his pension. In 2024. the key management persmnel of the Company comprtS8 the Trustees and the following members of staff: The Chief ExeartFve 'rector of Finance Commercial Director Director of Education and Operation8 The totsl emplo￿ benefits (including employer provided pension schemes, beneffts in kind and em￿0yer nabonal insufance contn"butsons) of the paid key management personnel were £592,18812023.' £735.935}. Information on payrnents to the twstees is given in note 14. 14. Trustees. rnmuneratlon and expenses During the year. no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 December 2024, expenses totalling £2,887 wefe reimbursed lo 10 Trustees (2023 - £2,085 to 7 T￿stee5). In addition to this, other ¢ornmtttee expenses V￿re inCu￿ed of £35 (2023.. £1221. key management personnel of the Company include the Trustees. Page 56 FIELD STUDIES COUNCIL IA company Ilmfted by guarantsol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1& Iiitsnglbl• a8••t• Grnup Goodwlll Co•t Addrtions 25,422 At 31 December 2024 25,422 Not book valu• At 31 December 2024 20,422 At 31 Decemb8r 2023 Page 57 oa gl r4 C• O VO qjè U < < O Q i-b_ v•w (DD a50co 'ET>£I ¥Ja7i a) o EV tv oQffja) co>£ o* *7• 00 00 (0 0 FIELD STUDIES COUNCIL (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. InvMlm•nt prop•rty Group and Company Freehold Invastmènt property Valuatlon At 1 January 2024 480,000 At 31 December 2024 480,000 Th• inv•8trnent propety vaknali)ns were made by the Trustees on a Market valu• basis. Page 63 FIELD STUDIES COUNCIL (A company Ilmlted by guarant8e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Flxed asset Investments Inveslments in subsidiary Listed companles Investments Total Group Cost or valuatlon At l January 2024 Additions Revaluations 2.056,472 10,961 124,216 2,056,473 10,961 124,216 At 31 December 2024 2.191,649 2,191,650 Net book value At 31 December 2024 2,191,649 2,191,660 At 31 December2023 2,056,472 2,056,473 Investments subsldlary Listod companles Investments Total Company Cost or valvatlon At 1 January 2024 A(klitions 2,066,472 10.961 124,216 2,056,474 96.383 124,216 85.422 Revaluats'ons At 31 December 2024 85,424 2,191,649 2,277,073 Net book value At 31 December 2024 86,424 2,191,649 2,277,073 Al 31 December 2023 2,056,472 2,056,474 Page 64 FIELD STUDIES COUNCIL IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Prlnclpal subsldlarles The following were sUbs￿lary Lwthrtakings of the Company Names Company numb•r Class of shares Holding Includèd in con$olldatlon FSC Tradlng Lto FSC Consultancy Services Limrted Hife A Canoe Ltd 12891131 02746466 10733251 Oroinary Ordinary ordinary Yes 100% No 100% Yès The finanGi41 resurt& of the 3ubsidiaiies for yV%ll YM¥. Names Income Expendliure Proflulloss) for the year N8t assets FSC Trading Ltd FSC Consultancy Services Umited 5,505,151 5,337,996 167,156 FSC Trading Ltrfs prinupal actvity includes the emplo￿nent of the education staff and providing them lo the Charity. FSC Trading Ltd raises fvnds for Field Studies Council by providing premises and hospitality services to businesses and the general pubtic, and employ3 the education staff and provides their seryices to Field Stui*es Counol. FSC Trading Ltd began trading in April 2021. FSC Trading Ltds net assets split consists of £355,256 Current assets arKI £355,255 ¢Uffent liabllilles. FSC Consultancy SeNices Lt(l is a domant company arml has not been included in the consolidated accounts as it is not material. Hir& Canoe Ltd aquired tr a consideration of £85.422 on 29 November 2024 when the net asset value of the company was £60.000 resulting in gocxknll of £25.422. The registered office of all subsKliaries is Preston Montford. Montford Bridge. Sttrewsbury. Shropshira, England, SY4 IHW. Page 65 ELD STUDIES COUNCIL IA company Ilmltad by gu•rnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Stock• Gn>up 2024 Group 2023 ompany 2024 Gompany 2023 Raw matertals Work in pmgr833 17,261 66,341 16.140 66,451 17,261 56,341 16,140 66.451 72.602 82.591 72.602 82,591 20. D•btor• Group 2024 Group Company 2023 2024 Company 2023 Due wlthln on• year Trade debtors 1.319.838 128,342 1.240.599 46.058 286.266 1,319,838 128,341 1,115,541 1,240,599 46,056 284,898 Prepayments and ineune 2.663,721 1,572.923 2,563,720 1,571,553 Pag8 66 FIELD STUDIES COUNCIL IA Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPA8ER 2024 21. Cr¢dltors: Amounts falllng due wlthln one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans Traje credil¢YS Amounts owed to group undertakings Accruals Other taxation and social security Other creditors Deferred income (see below) 120.454 269,168 107,243 147.413 120,454 269,15& 355.255 560,180 106.261 1,206,234 4.614.183 107,243 147,413 279,518 736,007 138. 465 1,274,607 4.484.515 593,826 209.819 1.233,731 4804.738 755.476 197.849 1.318.127 7.231.725 7.169,119 7,231,725 7, 167. 768 Group 2024 GIDUP Company 2024 Company 2023 2023 Deferred Income Deferred income at 1 January 2024 Resources deferred during the year Amounts released from previous periots 5,071,465 4,679.070 4,912.971 4, 609,999 4,804.738 5.071,465 4.614,183 4,912,971 15.071,4651 (4, 679,070) 14,912,971) (4, 609,999) 4,804,738 5,071,465 4,614,183 4.912.971 Included within deferred incnme at 31 December 2024 is £4.804.738 (2023.. £5,071.465} in relation to invoices raised in advance of the year end for deposrts on future bookings in 2025 and beyond. Of this, £3.365,188 12023: £3,512.8241 was received in cash before the year end and £1,439.549 12023.. £1,558,641) is itKluded in debt(X5 in note 19. Page 67 FIELD STUDIES COUNCIL IA company Ilmftod by guaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Cr•dttorn: Amounts f•lllng aftsr mor• than on• ymr Group 2024 Group Company 2023 2024 Company 2023 Bank loans 1,618,042 1. 739,330 1,618,042 1, 739,330 Induded within the above we falling du8J as fol￿. Group 2024 Gmup Company 2023 2024 Company 2023 Betwe￿ one and t*Y> yoars B￿k loan8 129.098 117,466 129,098 117,466 B•twMn two and five yoar• B￿k loans 462,000 360.080 462,006 360,080 Over five years k loans 1,026,939 1.261, 784 1,026,939 1,261,T84 B•)k108n8 are se￿red against the C¢xnpanYs assets as pw the disdosure in note 16. Page 68 FIELD STUDIES COUNCIL (A company Ilmttad by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. St•t•m•nt of lund• stateme￿ of funds . current year Balanco at 31 Galnsl December (Lo8se$l 2024 Balanc• at 1 January 2024 Transferd Inlout Incom• Ex￿ndItuT• Unrostrkted fund• Dmlgnatgd fund8 Bursary Fund Fléd Studies Council Foundation 695,455 10.967 6,030 712,442 111,694 164.030) 71,804 709,595 121651 164,030) 6,030 784,246 General funds General Fund Contsngencies Fund 12.944,594 18,246.393 118.163.0671 13,036,920 1,238.842 111.602 1,350,444 14.183.436 18,245.393 {18.163.067) 111,602 14,387,364 Total Unrestrlcted fitnds 14893.031 18,368.IJ44 (18,207,097) 117,632 16.171,610 Page 89 FIELD STUDIES COUNCIL (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEQ 31 DECEMBER 2024 23. Statsment of funds Icontlnued) Balance at 31 Gainsl DeGember (Losses) 2024 Balanc8 at 1 January 2024 Transfers Inlout Income Expendlture Restrfcted fund8 Dale Fort Fund (Capital) Rural Carbon Challenge Fund (Capital) EF Cap Inv ReseNe 81,984 12,5621 79,422 274,256 {8,1851 266,071 68,92t 1.s36 60,457 Blencathra Purchase ApFeal Juniper Hals Investment Fund Young Darwn Stholarship Heritsge Lottery Fwd Biolinks Centre Support FLnds Juniper Hall Re￿rbiShrnent Ftmd Biodiversity Fund Fuoe Foundation Green Influencers Generats'on Green 91.010 12.758) 88,252 63.256 68,304 69,3n 40,507 (80.887) 28,991 713 (713) 87.333 7,729 (12,303) 1106) 82,653 227,045 30.295 40.0 9,366 (9,432 (16.834) 145.000) 217,613 18,461 10.000 (5,000) 5.000 9.358 12,573) 141.280 (143.853) Athentures Away fr(xn Home Swire Grant Restricted funds < £5,000 158.500) 132.292) 32,292 10,658 {9.0051 10,605 1.041,673 301,679 (422.324) 6,584 927,612 Total of funds 16,934.704 18.669,723 (18,629,421) 124.216 16,099,222 Page 70 FIELD STUDIES COUNCIL (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Statement of funds Icontinued) s&tsment of funds - prior year Balance al 31 D8cgmbei 2023 BalanGe al f January 2023 Transfers Inloul Gain (Losses) Income Expendlture Unrestricted fuNts Deslgnatèa funds Bursary Fund Epping Forest Fund 662,498 7.916 25.041 695,455 9.197 (9, 197) Fiekj Studies Council Foundation NFS Legacy Researchlstudy Fund 35.939 83.393 100 (121.306) 15. 260) 16.114 5. 160 14,740 21,274 (21.274) 728.908 91.409 (126,566) (9, 197) 25,041 709,595 General funds General Fund Conts'ngencies Fund 12.228,062 17. 197,459 (16.525,414) 44.487 12.944.594 1,217.003 (21.550) 43,389 1,238,842 13.445.065 17. 197,459 (16,525,414) 22.937 43,389 14, 183,436 Total Unwrs(¥lGtEd funds 14. IT3.973 17.288,868 (16,651,980) 13.740 68,430 14,893,031 Page 71 FIELD STUDIES COUNCIL (A Gompany limlted by guardntsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Statemont of funds (contlnued) Balance al 1 January 2023 Balance al Gain￿ 31 December (Losses) 2023 Transfe I￿Ul Int￿￿ Expendture Restrlcted funds Dale Fort Fund (Capital) Rural Cart)on Challenge Fund (Capital) EF Cap Inv Reserve BlenrAthra Purchase Appeal Juniper Han Investment Fund Young DaThvin Scholarship Preston Montford Ecology Heritage Lottery Fund Biolinks Centre Support Funds Juniper Hall Rebjrbishment Fund Blo(Ilverslty Fund Foyle Foundalion Green Influen￿r$ Restricted Ibnds < £5.000 84.546 (2.562) 81,984 28Z441 60.339 (8, 185) 274,256 58,921 11,418) 93.768 (2. 758) 91,010 59.150 4,104 63, 256 89. 752 15, 108 (35.489) 69,371 (106) 106 (9a591) 70,096 161.0641 11.115 (61.361) (3,078) (1. 112) 9.2 87,333 236.477 29.190 (9,432) 1,110 227.045 30,295 40,000 9,356 (5) 9.070 (TOJ 356 15,172 4. 732 (10.593) (465) 8,846 922,234 241,089 (IfO.596) (lJ,740J 2. 686 1.041.673 Total of fund$ 15.096 17 529,957 (16. 762.576J 71. 116 15.934. 704 Page 72 FIELD STUDIES COUNCIL IA company Ilmltod by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Funds Unrestricted Funds General fund represerrts the Operati￿al irKome 8nd expenditure. Contlngencles fund is represented by the value of the rna1￿ part of investments. Desl nated Funds These are funds designated or eamarked by the Board of Trustees for suth purposes as they deem apwopriate. Flold Studles Councll Foundatlon Monies set aside to help fund educational courses delivered to children from deprived backgroly￿s. Burnary fund is designated and used to support disadvantaged chIld￿n vtho might find rt difficult to comè on outdoor clasSr￿M courses tecause of financial arcumstance. The fund is aimed ai iThJividuals. Epplng Forest fund - monie5 generated by speufic Investrnents available to fuThl activities at Epping Forest. Research I Study fund is held kn purposes womoting futlhet sludy and research. Restrlcted Funds Da* Fort Fund represents a Grant received from the Nathyd Assembly for Wales. in 2005 and 2006, towards cost of redeveloFKMent of Dale Fort. being written back over the estimated u¥efvl life of 50 yews. DEFRA Rural Carbon Challenge Fund - This project aimed to reduce the carbon footpnnt of Blencathra Fiekl Centre by about 80% through the provision of a number of renewable energy s￿Jrces in place of fossil fuel methods. Blencathra Purchase Appeal - This represented fvrNls rased from an appeal toward the purchase of Blencalhra Field Centre in Autumn 2013. EF Capilal Investment reserve - A Fund to generate income for the support of the Field Studies Council's acbvities at Epping Forest Field Centre. This balance was transferred from the associal8d des'gnaled reserve during 2022 to properfy ring fence this capital element. Movements each year on this tur￿ represenr change In MarKet value of unoenwng Invesrments. Junippr Hall Fund - A Fund to generate income for the surport of the Field Stiidies Council's activiti@s at Juimper Hall Field Centre Movements each year on this fund represent the change in Market Value of the undeflwng investments. Yoing Darwln project encourages and supports yr*ung people Ytho have a re81 internst in the natural wodd and seeks to develop the next generabon of'charfes Darwtns. Page 73 FIELD STUDIES COUNCIL IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Céntre Support Fund$ Funds a￿ hdd to raise monies to support or provide additional facilities al certain Field Centres cuffenuy those at Amefsham. Flatford Mill, Juniper Hall. Netuecombe, Preston Monlford, Rhy&y-Creuau and Slapt￿. Junlper Hall Fundrnising Appeal wovided funding for the Phase 11 refurbishment of Junipw Hall. Blodlverslty fund - A fund sel up from donats'ons intended help promote 8iodiversty and the teaching of Foyle Foundatlon - To provide leaming aids for l)otany courses to increase accessibility for neuro diverse adu￿ leamers. G￿en Inlluf+nEer5 - Tlitb SLIiwii¥ ¥liydyÈ> wifli young people (Oreen Infftiencern) who are b¢￿ern the ages of 10-14 years old, from across England and promotes youlh-led environmental social action. F￿ded by the Emest Cook Trust. Generatlon Green - This Frq'eci will give underser4&d ywng people (YPI in England an opportunity to spend a night urMJer the stars and conneGt nature in our protected landscspes. It will wsden access and engagement wrth protected larKlscapes. boost nature connectedness and enable YP lo gain wellbeing Adventures Away From Home - aims lo foster the social and emotional development of young people aged 11-18 and up to 25 for those with special educational need£ and disabilrties by providing fully fijnded bursaries for young peoplè fa￿ barriers to participation. It encourages participants to experience, leam and develop while also connethng Vbqth others and the natural environm8nl. Swlre Grant - The aim of the Swire Funding is ttwt more JrurwJ people ￿111 take up a natural hislory course. Restricted funds < £5.000: Glll Stevens Award - This fvnd is named in memcry of a great supporter of outdoor education and is used for children from state schools near selected Royal Parks to get hand&on with nature and understand local wtldlrfe. The Gannochy Trust uses fvnding to SUPFK)rt the day ¢)utrea¢h and a three-day residential experience at Fièld Studies Council Millport. to develop and inspire the young people to care about their Ioc81 environment, raise th￿r aspiratsyis and realise th￿r potents"al. Flatford Mlll suffolk BlvlvyiiAII R¥bvnleis - 8uffoFk Bid(yiGal Re¢C￿derS This u3e3 funding from the Suffolk Biological Records Certre and Ihe Suffolk Naturalists Society to SUPFth individuals, attendance at Flatford's Natural History courses. BW Envlro Galns A Ten ￿ar agreement (from 20221 to increase the number of educational and volunteering opportunibes delivered through the Field Studies Council at Bishops Wood, it seeks to increase the health and Sttial wellbeing of kJGal communitses. Signs of Sprlng Grant - £2.603 was received in the year 2024. This is a partnership agreement with the Royal Soaety of Biology to conwete a survery for the S￿n5 of spn'ng. Herltsge Lottery Fund Blolinks 11- The full project was awarded in 2017. Over 2000 people will be enga9ed with the project over the next 5 JEars and will invofve the award of £1.2m over the same period. Page 74 FIELD sniDIES COUNCIL {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Wlldflower Bursary - The Wilthower Socbety fund3 8 number of bursarie3 to encoura9e wder wildBower identthcation amongst 1&25 year olds. Sir James Reckitt Trust - To provide leaming aids for tK)tany courses to increase accessibility for neurodiverse adutt leamers 26. Summary offunds Summary of funds - current year Balance at Balance at 1 January 2024 31 Gainsl December {Lo$sesl 2024 Transfers Inloul Income Expenditure Designated funds General funds Restricted funds 709,595 122,651 154,0301 14183.436 18.245.393 (18.153.067) 1.041.673 301.679 1422.3241 6.030 784,246 111,602 14,387,364 6,584 927,612 15,934,704 18,669,723 (18,629,421) 124,216 16,099,222 Summary of funds - pdor year Balance al 31 December 2023 Balance at 1 January 2023 Trnnsfers inhut Gain (Losses) Income Expenditure Designated funds General funds Reslricled funds 728, 908 91.409 (126,566) 13.445.065 17, 197.459 (16.525.414) 922.234 241.089 (110, 596) (9. 197) 22.937 (13,740) 25,041 709,595 43.389 14. 183,436 2,686 1,041,673 15,096,207 17,529,957 (16. 762.576) 71, 176 15.934. 704 Page 75 FIELD STUDIES COUNCIL (A company limited by guarantso NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEGEMBER 2024 26. Analysls of n¢t a8$ets batwe•n funds Analysis of net assets between funds . current period UnrÈStriCt￿ Restricted fund8 funds 2024 2024 Total funds 2024 T2ngible fixed assets Intangible fixed assets Fixed asspt invp_qtmg.ntg 15.197.693 25.422 2.￿2.889 480.000 6.255.373 (7.231.725) (1.618,042) 651.358 15.849.051 25,422 2.191.650 480,000 6.402,866 (7,231,726) (1.618.042) 128.761 Investment property Current assgts 147,493 Creditors due ￿kn (Th year Credrlors due in more than one year Tc*al 15.171.610 927,612 16,099,222 Analysls of net assets betwttn funds - prfor perlod Unrestsicted funds 2ff23 Restiicted fvnds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Investment propety Cwrent assets Creditors due wthin one year Creditors due in morè than one wr 15.225,526 1,934,297 480,0 6. 161,657 (7, 169, 119) (1. 739.330J 674.295 15,899.821 122, 176 2.056,473 480, 000 6.406,859 (7, 169, 119) (1. 739,330J 245.202 Tofal 14 893 031 1.041.673 15.934.704 Page 76 FIELD STUDIES COUNCIL IA company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 27. Reconclllatlon of net movement In funds to net cash flow from operatlng actfvitles Group 2024 Group 2023 Net income for the perrod (as w Ststernent pf Financial Activibe¥) 164,518 838,497 Adjustments for: Depreciation charges Lossebllyaiiis) thi li1ve>￿Tle11IJ DivKlends. interest and rent$ from investments Lossl(profft) on the sale of fixed assets Decreasel{increasel in stocks De¢￿aSe/{1ncreaSe) In debtors Incxease in creditors (Decrease)lincrease in provisions ImrAiment of tangible fixed assets 750,746 745, 167 (124,21fj1 (Tl, 115) 1284,9661 (262,964) {51 6,048 9,989 (1.902) 1990.7981 94.601 49,395 287, 134 (394, 427) 374,504 276.645 Not cash provlded byl(used In) operallng actlvltles (148,692) 1,615,543 28. Analysls of cash and cash equlvalents GTOUP 2024 Gn)up 2023 Cash in hand 3.766.543 4,751,345 Totsl cash and cash oqufvalents 3,766,543 4.751,345 Page 77 FIELD STUDIES COUNCIL IA c. The Trustees and other key management personnel are related parties. Infomiation on the remuneration and expenses of Twstees is gNen in Note 14 and on the remuneration of the other key management porsonnol is givan in Nota 13. Save lor these transaclions. there ￿Ere no other related paty transaciions in 2024 for which separate specific disclosure is required. The Company has neithér Controlling parties nor any persons wilh significant control. Page 79