The Beaudesert Trust Providing adventure for young people & conserving Beaudesert Park Trustees, Report and Financial Statements for the year ended 31st March 2024 The King George V Memorial Scouts & Guides Recreation Lands (The Beaudesert Trust) 2023124 Charity Number 522603
The King George V MemoriAI Seouts & Guides RecreAtional Lands (The Beaudesert Trust) Financial Accounts for the year ended 31" March 2024 Annual Report & Accounts 2023-2024 The Trustees present their 85, Annual Report for the year ended 31, March 2024. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounling and Reporting by Charities preparing their accounts in accordance with the SORP 2019 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) Financial Accounts for the yeAr end 31. March 2024 Index: Pa Trustees, Report l. Reference inforniation for the charity 2. Statement of Trustees, responsibililies 3. Siru¢iur¢J governance and management 4. Obj¢ctives & activities 5. Achievements and perfomiance O. Financial review Independent Examiner's Report StAtement of Flnanclal Activitie$ 10 Balance Sheet Statement of ¢aJh flows 12 Notes to the Financial Statements 13- 18
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) ReEx)rt of the TnLt for the year ended 31. Mah 2024 TRUSTEES, REPORT The Trustees present their annual report and the financial statements for the year ended 31. March 2024. l. Reference ADd administration details: The King George V Memorial Scouts & Guides Recreational Lands. has a working title of The Beaudesert Trust, and is marketed as Beaudesert Outdoor Activity Centre. Registered Charity Number.. 522603 Address: Beaudesert Park, Cannock Wood, Rugeley, Staffordshire WS15 4JJ Tel: 01543 682278. Email: dmin beaudesert.or Website: www.beaudes rt.or Trustees And Officers of the charity: Ex-offieio Trustees: The Lord Lieutenant of the County of Staffordshire: l Dudson LL, CBE. Kstj The Chairnian of the County Council of Siaffordshire: Cllr. Mr P Hewitt appointed 3010512023 M Khuram Mrs. A Holmes R Williams Mrs. K Belcher Ms L Richardson and Mr J Sieel * appointed 0410112024 The Chaimian of the Staffordshire Branch of CPRE: The Guide County Commissioner for Staffordshire: The Scout County Commissioner for Staffordshire: The Guide County Commissioner for West Mercia.. The Scout County Commissioner for West Mercia: Elected Trustees: Mr. C Ablitt Mr. S Wood * resigned 1610412024 Mr N Jennings. appointed 0110512024 Mr D Phillips. appointed 0710312023 Mr. J D Cotton DL * Chairnian Mrs. E Gumb* Treasurer Centre Manager: Mr. N Ruse Executive Committee: all members of the Executive Committee are identified with an
The King George V Memorial Scouts & Guides Recreational Lands (The BeAudesert Trust) Re)rt of the Tnttr5 forthe year ended 31. Mah 2024 (cont'd) Professional Advisors: Bankers.. Solicitors: HSBC Plc, 53 Anchor Road, Aldridge, West Midlands, WS9 9AD An50ns, St Mary's Chambers, 5-7 Breadmarket Street, Lichfield, Staffordshire. WS13 6LQ Indcpendent Examiners: Bradshaws Ltd, Charter Court, 2 Well House Barns, Chester Road, Bretton, Chester CH4 ODH Chart¢red Surveyors.. Boot & Son, 19 Wolverhampton Road. Cannock, Staffordshire, WS I I IAH Unity Insurance Services, Lancing business Park, Lancing. Sussex. Insurance Brokers.. BN15 8UG 2. Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with applicable law and United Kingdoin Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial stalements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In prepariiig thes¢ financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. b. observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent; state whether applicable accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trust¢¢5 are responsible for keeping proper accouiitiiig reLords that disclose with reasonable accuracy at any time the fiiiancial position of the Charity and enable them to ensur¢ that the fiiiancial statements comply with the Charities Act 2011, the Charity (Accounts aiid Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding tlie assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 3. Structure* governance, and manAgement Scheme of regulation: The Trust operates under a Scheme of Regulation dating from 6 January 1939, am¢nded 4 March 1977 as affected by further Schemes dated l O, February 2004 and 19, November 2009. Governance: The Trust adopts guidance from the Charity Commission as it is issued, including the Charity Governance Code issued in September 2017, and the Charities Act 2022. Governance, policies, and strategy are reviewed annually at our Trustee away day.
The King George V Memorial Seouts & Guides Recreational Lands (The Beaudesert Trust) Rert ofthe Tr for the year ended 31° March 2024 (cont'd) Organisational structure: Governing Body: The appointed and elected Trustees of the Charity are responsible for the overall coiitrol of the Trust. Executive Committee: The meinb¢rs of the Executive Committ¢¢ r¢sponsible for th¢ governance and management of the Trust throughout the year, including approval of the budget and business plan. for setting strategic dir¢ction: and for finalisation of the accounts and Trustees, report for approval by the Annual Meeting of th¢ Board of Trustees. Management and Finance sub-committee: The Management and Finance Committee are responsible for approving the budget and any expenditure outside the budgcl. reviewing the perforniance of the Trust quarterly. approval of decisions with a significant impact on budget delivery; and reviewing all significant personnel issues and maiiagerial recruitineiit. Operational management: The operational management of the Trust is the responsibility of the Centre Manager and his Management team. Recruitment, appointment and trAining of Trustees: The Charity's elected Trustees are appointed at the Annual Meeting of the Trust on the basis of nominations received from the Executive Committee. The policy on recruiting Truste¢s was reviewed in September 2017 and the Executive determined that it should have a minimum of10 members with the appropriate range of skills to manage the Trust. and that Executive members have a t¢rni of service of 4 years. renewable once. with a term of service for Chairnian and Treasurer of 5 years, renewable once. Our nomination procedure is lo advertise openly for Trustees and then the applicants are interview¢d by the Executive to see who has the skills and knowledge rcquired. Successful applicants are co-opted on to the Executive Committee, and proposed for election at the AGM. New Trustees are inducted into the role of th¢ Trustee and the Trust's obj¢¢tives* procedures, and business plan by the Chairnian. Related parties: Beaudesert is a stand-alone charity witli no related parties, which share its obj¢ctives. However, it works closely with its visitors including local Scouts and Guides, whose 4 County Commissioners and Lead Volunteers are Ex-officio Trustees. Risk Management: The major risks faced by the Trust have been identified and ass¢ssed by the Exe¢utive Committee, and systems and procedures established to manage the risks. The key controls used by the Charity include., skills audit of th¢ Executive linked to Trustee recruAtm¢nt- b, tern]s of reference, fornial agendas, and minutes for all Committees. fom]al written policies. conflict of interest review at the start of all Governance meetings. comprehensive strategic planning, asset management, budgeting & accounting; established organisational structure and lines of reporting. clear authorisation and approval levels; h. financial management and review through the Management & Finance Committee. vetting procedur¢s for Trustees, staff or volunteers including DBS where relevant. the completion of a Comprehensive risk register. reviewed annually at our away day.
The King George V Memorial Scouts & Guides Recrevdtional Lands (The Beaudesert Trust) Rert of the Trllste for the year endtyl 31. March 2024 (cont'd) 4. Objectives & Activities Trust's objects as listed in our scheme of regulation: The objects of the Trust are the provision in commemoration of the reign of King George V, and for the b¢n¢fit of the public: to help Scouts, Guides, and oth¢r young people. especially but not exclusively throiigh leisure time activities, so as to develop their capabilities ihat they may grow to fLI I I maturity as individuals and members of society. 2. to promote the conservation, protection, and improvement of the physical and natural environm¢nt of Beaudesert Parklands; and to preserve the ruins of Beaudesert Hall, including a Walled Garden and other land. of historic and architectural importance. Our Aims: l. To be filled with young people enjoying the outdoors and so developing as individuals and meinbers of society. 2. To help visiting groups make best use of their time with us; 3. To have appropriate, up to date, and safe buildings and facilities in good repair; 4. To have a range of modem activities attractive to the range of young people accessing our site, so they can all participate in fun and adventure; 5. To develop parklands that are suitable for young people to explore, and preserve historical features; 6. To preserve the Old Hall making it structurally sound so that it will continue to stand and the public can visit and view it; 7. To be financially secure so that all maintenance and development can be completed wlien required. Our Objectives And Strategy.. l. Safe and secure: to provide the highest Standards of safety in all aspects of tlie Charity's operations, including safeguarding, through appropriate procedures. 2. Governance; to have strong charity governance by meetiiig all recommendations of the Charity Commission and to be perc¢ived as a well-run charity. 3. Vtsl¢or income: to grow income from visilors through widening the range of visitors and use in quieter times, whilst building a reputation for fun & adventure, friendly service, and clean faci lities; ensuring the price we charge our visitors generates sufficient income to meet the full costs of operating the site. 4. Actlvlties: to deliver high quality. recreational and adventurous activities that are fun and valued by our visitors through investment in activities and well trained instructors. 5. Estate maintenance: to maintain and conserve our buildings and the parkland of Beaudesert as a safe resource. by completing the one-off maintenance and then maintainin8 the sile through budgeted expenditure. 6. Good employer: to create a working environment that attracts, retains and enthuses high calibre employees and volunteers, and to develop th¢ talents of our employe¢s in line witli the needs of the Organisation. 7. Development plan: to provide an infrastructure to deliver good quality residential facilities and activities in line with customer expectations, and discharges our duty to conserve the Old Hall. 8. Fund-raising: to raise funds to support our maintenance and development plan. 9. Communication: to communicate and listen to our staff, volunteers & stakeholders on the challenges and successes of Beaudesert, and so build support for the strategy of the Trust.
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) Report of the Trusts& for theyear ended 31. Marth 2024 (cont'd) Longer term objective: This is encap5ulaled in our Development plan to complete all outstanding maintenance and refurbishments, invest in new buildings and activities to remain competitive. and discharge our duty to maintain the Old Hall; and also to ensure that ongoing income Can sustain the maintenance and competitiveness of the site, The estimated cost of this plan is £2m, made up of Maintenance catch up (£250k); Buildings (£I,OOOk); Activities (£300k)' Parklands (£200k)' & Old Hall (£250k). The funds for this will come from the annual financial surplus plus dedicated fund-raising. However, our reserves were depleted during the Coronavirus pandemic, aiid to be prepared for any futur¢ crises, we need to rebuild reserves to 6 months. As investment in facilities now is important for our visitors, we will continue both to rebuild reserves and invest at the same time. Our principal activities of the year: l. After Covid, we reopened and successfully grew visitor numbers up to 800/0 of pre-pandemic levels by summer 2023. and in addition we hosted a major Guide camp: Me8amix, in summer 2023. However since then, visitor numbers have stopp¢d growing and in 2024 we lost a major conlract with Warwickshire College. This has led to visitor numbers and income less than expected in 202314 and ongoing. 2. We have continued to complete essential maintenance and inv¢stment in our buildings and facilities. This included investment in Haden Lodge cooking and meeting facility, partitions is Owls Nest and Chantrey House to allows mixed gender groups to use the buildings, grass sledging, and archery range5. 3, After Covid, we have found recruiting staff and keeping a full complement of staff more dityicult. and we thank all our staff for their dedication and hard work for our visitors. 4. One of our key members of staff: Gareth Onens passed away this year. This was a hiige shock and we pay tribute to a valued, aiid well-loved p¢rson, who cooked wonderful meals for us. and undertook substantial volunteer duties with Alcester Scouts. Frlends of Beaudesert: The Friends of Beaudesert is an organisation that is open to the public; it encompasses tlie local community, volunteers and supporters. Volunteers: The Trust is committed to promoting volunteering opportunities to provid¢ a contribution ii) the form of general service and maintenance, a5SlStance at specific events. and volunteering in the shop.
The King George V Memorial Scouts & Guides RecreatRonal Lands (The Beaudesert Trust) Rert of the TnL8tees for the year ended 31st March 2024 (eont'd) 5. Achievements and performAnce Safety: We maintain a strong management of safety within the Trust, meeting all our statutory safety obligations. We contract an external health and safety auditor to audit our practices and update our policies, to meet best practice. We have managed to reduce our problem with Trespassers from installing fencing, new signs and CCTV; however we do still have occasional trespassing. Investment: We have invested in the site wher¢ n¢c¢ssary to provide facilities for our visitors and maintain the gyrounds. Visitors: Numbers had bounced back to 80% of pre-covid levels by summer 2023, but then growth slopped and the loss of a substantial contraci have capped the number of visitors. School visits are an increasing part of our activities and we are investing to meet their needs. Relationship with employees: W¢ work with a management team of the Centre Manager, Finance Manager, Estate Manager, Activity Manager and Catering Manager. and recruit team members during the year to deliver the programme and activities for our visitors. This includes both freelance staff for peak times and apprentices. Actlvlty Centre Reglstratlon: AALA, LOTC, BAPA We are licensed by Adventure Activities Licensing Scheme, which inspects the safety managemei)t system for providers of adv¢iilur¢ activities to young p¢ople uiid¢r th¢ ag¢ of 18. We maintained recognition for Learning outside the Classroom and with British Activity Providers Association. FundrAlslng: The Trust has been active in fundraising in the following manner: l. We apply to a5 many grant making bodies as possible linked to our Development plan. 2. A professional fundraiser has not been used. 3. Fundraising is monitored by the Manag¢m¢nt & Finance committee and reported to the Executive. 4. No complaints have been received regarding fundraising. 5. The only approach to the public for fundraising has been donations from the members of Friends of Beaudesert. No undue pressure has been applied to those members.
The King George V Memorial Scouts & Guides Recregtional Lands (The Beaudesert Trust) Re)rt of the Tntee5 for the year ended 31. March 2024 (cont'd) Public benefit: The Trustees have discharged their duties with due regard to the Charity Commission guidance on public benefit as detailed here.. l. We provide activities that are beneficial through providing opportunities for Scouts, Guides and other young people. especially but not exclusively through leisure time activities, to develop their capabilities that they may grow to full maturity as individuals and members of society. This benefit is open to al l youth groups and a discount is given to el igible charitable organisations. 2 By pursuing these aims, the activities managed by the Trustees have due regard to tli¢ Charity Commission's public benefit guidance, and supplementary publi¢ benefit guidanc¢ on advancing education and on fee-charging. 6. Financial review Income from activlties: Income for the year was £806.281, which is similar to pre-covid l¢vels in 2019120. This is in line with our report last year which showed growth in bookings to 80% of pre-covid by summer 2023, which with inflation gives the same income. Costs: We continue to review and control operating costs which amounted to £830,401 (2023: £610,485), which was an increase of £219,916 on last year. This was driven by providing services to the increasing visitor numbers, and included an increase in staff costs of £82,926, in catering costs of £58,41 l. and actlvity costs of £37,024. We continue to estimate a minimum of £25K pa will be n¢eded for the foreseeable future to eiisure essential one-off repairs are completed in a timely manner experience has shown that this is often higher. No Trustees are paid, and no employee earned over £60,000 pa. Deficfit: Altliough total income increased by 31 %, total expenditure increased by 360/0 which led to a deficit of £13,911. Taking into account depreciation of£32,562, there was an overall surplus of £18,651. Current year: Visitor numbers recovered to 80% of pre-covid levels by summ¢r 2023, but have not grown since then. in addition we have lost a contract with Warwickshire College which gave an income of £75,000 pa. Reduced income and rising costs from inflationary pressure now results in a projected loss for 202415 and we are currently cutting costs as much as we can and we will have to reduce staffing levels as well.
The King George V Memorial Scouts & Guides Recreation21 Lands (The Beaudesert Trust) RetK)rt of the TnLStets forthe Y ended 31. Mah 2024 (cont'd) Net assets: The Net Asset position at 31, March 2024 was represented by the following main items: Tangible assets after revaluation in 2019 have a carrying value this year of £1,487,831 (2023: £1,484,424). Durin8 the year £35,969 was incurred on new fix¢d assets and the depreciation charge was £32,562. Debtors decreased by £744 from £35.518 in 2023. Cash at bank and in hand of £155,954 (2023: 155,512). Creditors falling due within one year of £151,323 are up on the figure for previous year by £22,676. Creditors over one year are all for the Bounce Back Loan which will be repaid over 9 years from F¢b 2022. Reserves Policy: The Trustees have established a policy that the free reserves of the Charity. should be between four and nine months of operatiiig costs, which provides sufficient funds for the charity lo survive a significant drop in funding. or business interruption. Future reserves will be starting from a balance of £16,258 held at 3 1st March 2024 (2023.. £31,454). Investment Policy: Apart from retaining a prudent amount in reserves each year, most of the Charity's funds are spent in the short terni, so there ar¢ few funds available for long-term investment. Having considered several options available. it was decided to invest any funds not required short terni in a low risk commercial bank deposit account. The Trustees continue to review the Charity's investment policy annually. Internal controls.. An annual budget approved by the Trustees. Appropriate delegation of authority and segregation of duties. Private benefit: Tlie Trust confimis that it does not provide any benefit to private individuals with the exceptions of payment for liability insurance wliich has been autliorised by the Charity Coniinission in a scheme dated l O, February 2004. The Trustees, report WAS approved by the Executive on 17 October 2024 and signed on their behalf by:. Mr J Cotton Chairnian Mrs E Gumb Treasurer
Independent Examiner's Report to the Trustees of The King George V Memorial Scouts & Guides RecreationAI Lands (The Beaudesert Trust) I report to th¢ charity trust¢es on my examination of the accounts of the charity for the year 31. March 2024 which are set out on pages I I to 18. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all tlie applicable Directions given by ihe Charity Commission under section 145(5)(b) of the Act. Independent exgminer's stqtement Since th¢ charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confimi that l am qualified to undertake tlie examination because l am a member of The Institute of Chartered Accountants in England & Wales, whicli is one of tlie listed bodies. I have completed my exainination. I confirm that no material matters have come to my attention in connection with the examiiiation giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records I have no concerns and have come across no other matters in connectioii with tlie examination to which attention should be drawn in tliis report in order to enablc a proper uiiderstandiiig of tlie accounts to be reached. Charter Court 2 Well House Barns Chester Road BrettoIi Chester CH4 ODH Andr¢w J Bradshaw, For and be If of adshaws Limited, Chartered ntants 17th October 2024
The King Ceorge V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) STATEMENT OF FINANCIAL ACTIVITIES for the year ending 31" March 2024 2024 2023 Restricted Funds Note Unrestricted Restricted Funds Funds Total Unrestricled Funds Toial Incoming from: Donations and gifts 2,190 5,721 7,911 ,127 1,127 Charitable Activities 804.781 1,500 806,281 612.277 1,050 613,327 Investment Income 2,299 2,299 186 186 Total Incoming Expenditure on: Charitable activities 826,205 4,196 830.401 608,571 1,914 610.485 Total Expenditure 826,205 4,196 830,401 608,571 1,914 610,485 Iyet income Gains on revaluation of fixed assets (16,935) 3,025 (13,910) 5,019 (864) 4,155 Net movement In funds (16,935) 3,025 (13,910) 5,019 (864) 4,155 Reeonclliation of Fundg Fund balances brought fonvard at I" April 2023 1,507,089 13,173 1.520,262 1,502.070 14,037 1,516.107 Fund bAIAnces carried fonvard at 31" Marcb 2024 13 1490 154 16 198 1506352 1507 089 The notes on Pages 13 to 19 form part of these finaneiAl statements. 10
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) BALANCE SHEET as Ydt 31" March 2024 2024 2023 otes Fixed assets Tangible assets 1,487,831 1,484,424 Current assets Stock Debtors Casli at bank and in hand 12.790 34.774 155,954 12,422 35,518 155,512 10 203 518 Current liabilitie5 Creditors.. Amounts falling due within one year 128 647 Net current assets Total assets less current Ilabllltles 1,540,026 1,559,229 Creditors.. Amounts due in more than one year 12 (33,674) (38,967) Net asjets 1,506,352 1,520.262 Represented by: Charity Funds Restricted fund Unrestricted fund General Fund inGlud¢s r¢valuation r¢s¢rv¢ of £795.632 (2023.. £804,882). 18 13 16,198 13,173 1.490,154 1,507,089 1,506,352 1,520,262 The financlal sthlements were approved by the Trustees on 17th October 2024 and signed on their behalf by:_ Jeremey Cotton, DL Chairnian Elspeth Gumb Treasurer The notes on pAges 13 to 19 form part of these financiAI statements
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) STATEMENT OF CASH FLOWS as at 31" March 2024 2024 2023 Notes Reconciliation of operating surplus to net cash inflow from charitable activities Operatin8 surplus Restricted Unrestricted 3.025 (26,097) (864) 3,878 Depreciation Loss on disposal 32,562 30,023 Movement in working evdpital (Increase) / decrease in Stocks {Increas¢) I decrease in debtors Increase / (decrease) in creditors Deposits on future Courses (368) 744 13,381 9,165 (4,183) (16,168) 8,435 28,690 Net cash inflow from charitable activities 32,412 49,811 Net cash Inflow from charltable actlvities 32,412 49.811 Investment income & donations Returns on investments and servicing of finance Donations Government Support Bounce Back Loan Interest payable 2,299 7.911 186 2,127 (5,163) (1,048) (5,037) (1,172) Appllcation of funds Capital Expenditure (35,969) (38,005) 442 7,910 Reconciliation of net cash flow to movement in net funds Decrease / Increase In cash in the year Net bank position I, April 2023 Net bank position 3 ljt March 2024 155,512 147,602 10 155,954 155,512 12
The King George V Memorial Scouts & Guides ReereationAI Lands (The Beaudesert Trust) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31" March 2024 Accounting policies Basis of preparation and assessment of going concern The accounts {financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to tliese accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance witl) the SORP 2019 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) originally issued in July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no uncertainties about the Trusl's ability to ¢ontinu¢ as a going concern over tli¢ n¢xt tw¢lve months. Depreciation All the fixed assets are used for the direct furtherance of th¢ Charity's aclivities. Depreciation is calculated to writ¢ off the costs of tangible fixed assets over their expe¢t¢d useful economic lives using the following rates:. Freehold buildings- 20/0 per annum straight line Equipment- l 0% per annum straight lille Trustees have reflected in these Finaiicial Accounts a valuation of th¢ inal ienable asset of the land. An estimated valuation of £850,000 has been placed on this land following the valuation in December 2019 by Boot & Son,. Fund accounting General funds are unrestricted funds which are available for use at the discretion of th¢ trustces in furtherance of th¢ g¢n¢ral objectives of the Charity and which have not been designated for otlicr purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by th¢ Charity for particular purposes. The cost of raising and adiniiii5tering such fund5 are cliarged against the specific fund. The aim and use of each restricted fund is 5Ct out in the notes lo the financial stateinents. Incoming resources All incoming resources are included in the SOFA when ihe Charity is legally entitled to the income and the amount can be quanlified with reasonable accuracy. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a tl)ird party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. All grants are accounted for gross when receivabl¢. Granls payable are recognised as expenditure when the commitment is eiitered into. 13
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) NOTES TO THE FINANCIAL STATEMENTS {cont'd) For the year ended 31" March 2024 Accounting policies (cont'd) Resources expended All cxp¢ndiiure i5 accountcd for on an accriials basis and ha5 been cla55ificd und¢r hcadings that aggregate all costs related to the category. Wliere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the osts of disseminating information in support of the charitable activities. Support cosls are those costs incurred directly in support of expeiiditure on the objects of the Charity and include project management, Management and adininistration costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirem¢nts. Stocks Stocks are valued at th¢ lower of cost and net realisable valu¢, aft¢r making due allowance for obsolete and slow moving items. Pension Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Unrestrlcted Restricted Funds Funds TotAI 2024 Unrestricted Funds Restricted Funds Total 2023 DonAtions and gifts Donations and Gift Aid 2.190 5,721 7.911 1,127 1,127 Unrestrlcted Rcstrlctcd Funds Fund5 Total Unrestricted 2024 Funds Rcslricted Funds Toial 2023 Bank interest 2,299 2,299 186 186 14
The King George V Memorial Scouts & Guides Recreational Lands (The Beaudesert Trust) NOTES TO THE FINANCIAL STATEMENTS (cont'd) For the yeAr ended 31" l¥tsrch 2024 4 Income of the Trust Unrestricted Restricted Funds Funds Total Unrestricled Restrict¢d 2024 Funds Funds Total 2023 Fees, Facilities and Activities Other income 804,781 804,781 1,500 608,758 3,519 608,758 4,569 1,500 1,050 5 Charitable activities Unrestricted Restrleted Funds Funds Total 2024 Unrestricted Funds Restricted Funds Total 2023 Staff costs Heat and light Repairs and renewals Chapel Demolition Activity expenses Estate manag¢m¢nt Rates and water Telephone post and stationery Retail and Catering costs Insurance Travel and subsistence Depreciation Legal and professional fees Independent examiners fees Other costs Bank charges Loan Interest 415,428 58,803 16.007 1,888 102.562 23.890 15,104 3,563 415,428 58,803 16,007 1,888 1,500 104,062 23,890 15,104 3,563 332,502 28,727 31,978 332,502 28,727 31.978 67,038 18,243 8,889 3,543 67,038 18,243 8,889 3,543 109,142 25,013 644 29.866 11,404 2,279 6,131 3,433 1,048 109,142 25,013 644 32,562 11,404 2,279 6,131 3,433 1,048 50,731 20.562 882 28,110 6,974 2,300 3,815 3,105 1,172 50,731 20,562 882 30,024 6.974 2,300 3,815 3,105 1,172 2,696 1,914 Staff numbers and costs The key management personnel of the charity comprise the managers in charge of the center, guest services and health & safety. The total employee benefits of the key management personnel of tlie Trust were £78,201 (2023: £69,412). No employee of the charity received emoluments of more than £60,000 (?023: none). During the year the average monthly head count wa5 23 employees (2023: 23). The costs to the Charity were.. 2024 385,479 19,129 10,820 2023 306,048 15,828 10,626 Wages and salaries Social security costs Pension costs 15
The King George V Memorial Scouts & Guides Reereational Lands (The Beaudesert Trust) NOTES TO THE FINAI¥4CIAL STATEMENTS (cont'd) For the year ended 31" March 2024 Trustees. remuneration and expenses None of the Trustees received any remuneration for services to the Trust. Expenses incU¢d by Trustees on behalf of the Trust wer¢ often gifted to the Trust. Tangible fixed as5¢ts Freehold Land anil buildings Plant and Equipment Total Cost or valuation At I. April 2023 Additions Disposal 1,497,506 9,251 295,586 26,718 1,793,092 35,969 As at 31° March 2024 829 Depreciation At 1st April 2023 66,029 242,639 308,668 Charge for the year Eliminated on disposal 20,202 12,360 32,562 At 31 st March 2024 254 999 41 Net book value At 31° March 2024 1,420,526 67,305 ,487,831 At 31 st March 2023 ,431.477 52,947 1,484,424 In order to comply with the provisions of the SORP 2019 Accounting and Reporting by Charities (FRS 102) Ihc Trustees have reflected in these Finaiicial Accounts a valuation of the land and buildings. In December 2019 the grounds and buildings of the trust were revalued on an open market basis valuation at £1.5m (before the demolition of the Chapel) by Boot & Son, Independent Chartered Surveyors, of Cannock, Staffs. The historical cost of the land and buildings (included in ihe financial statements at valuation) is £704,369 (2023: £695.118). This represents the costs incurred by the charity since the lands were donated to it and no cost is attributed to the original lands, 16
The King George V Memorial Seouts & Guides RecreAtional Lands (The Beaudesert Trust) NOTES TO THE FINANCIAL STATEMENTS (cont'd) For the year ended 31" March 2024 Debtors 2024 2023 Trade debtors (hher debtors Prepayments 12,857 17,615 1,000 10 Cash at bank and in hand 2023 2022 Bank a¢¢ounts 155512 11 Creditors- amounts fAlling due within one year 2024 2023 Trade creditors Taxation & Social Security Deposit for future activiti¢s Accruals Bounce Back Loan 13,327 15.937 95,810 20,957 29 151323 6,776 22.140 86,645 7.924 128647 12 Creditor8- amounts falling due more than one year 2024 2023 Bounce Back Loan 13 Analyslg of net asyets behveen funds Unrestricted Restricted Funds Funds Total Funds Fund balanc¢s at 31° Mah 2024 ar¢ represented by.. Tangible fixed assets Cuent assets Less Current liabilities Less: Creditors due in more than l year 1,473.896 201,255 (151,323) (33,674) 13,935 2,263 1,487.831 203,518 (151,323) (33,674) 1490 154 1506 352 14 Capital commitments There were no capital commitments authorised or contracted for at the year-end. 15 Taxation The Charity is exempt from taxation on any income or Capital gains. 17
The King George V Memorial Scout5 & Guides Recreational Lands (Tbe Beydudesert Trust) NOTES TO THE FINANCIAL STATEMENTS (cont'd) For the year ended 31" Mydrcb 2024 16 Ffinanclal Instrument In order to finance their working capital requirements, the Charity had received a loan from its Bank through the Bounce Back Loan sclieme. Tlie Baiik agreed that tlie loan will be interest bearing. The loan is recognised in the Charity's Balance Sheet a5 a creditor due within and after l year, Under Section I l of FRS 102 this will be the present value of the cash payable to the Bank. 17 Control The Charity is under the control of the Trustees. 18 Restrhcted funds Opening Balance Net Incoming Resources Transfers Closing Balance Cal Day Archery Range Climbing Wall Reception Renovations Grass Sledging Tented vil lage Guide House Park Equipment CCTV Building Equipment Pedal Carts 4,000 998 2,243 250 2,136 1,146 700 800 900 ( 1.000) 567 20 (63) (260) (200) (70) (100) 1,250 2,161 720 3.000 ,565 2,263 187 .876 946 630 700 2,150 2,161 720 Restricted funds Most of the funds received have been expended on capital projects where they are being depreciated over a ten year period. 18