REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
LONGTOWN OUTDOOR LEARNING TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
TRUSTEES' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
LONGTOWN OUTDOOR LEARNING TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
TRUSTEES' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
LONGTOWN OUTDOOR LEARNING TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Reference and Administrative Details | 1 |
Trustees' Report | 2 | to | 11 |
Independent Examiner's Report | 12 |
Statement of Financial Activities | 13 |
Balance Sheet | 14 | to | 15 |
Cash Flow Statement | 16 |
Notes to the Cash Flow Statement | 17 |
Notes to the Financial Statements | 18 | to | 29 |
LONGTOWN OUTDOOR LEARNING TRUST |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Lockett & Co |
Chartered Certified Accountants |
Shelton House |
Coningsby Street |
Hereford |
Herefordshire |
HR1 2DY |
BANKERS |
P O Box 250 |
Skelmerdale |
Lancashire |
WN8 6WT |
WEBSITE | www.longtownoutdoorlearning.co.uk |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
Our Vision |
"A world in which every young person has the opportunity to build their character and resilience through outdoor learning and adventure. Our programmes will boost health and wellbeing, use activity as therapy, promote healthy social interactions, encourage learning, improve physical capabilities and foster connection with the environment". |
Report from the Chair of Trustees |
This year we have welcomed over 2000 children and young people to our centre and this, alongside prudent financial management, has enabled us to meet our charitable objects and increase our financial security. There have been challenges along the way, but the team have been able to deliver affordable, high quality, outdoor learning and adventure that has had a positive impact on our customers, many of whom are struggling due to the cost of living crisis. |
2023 has been a year of change for our team of Trustees, employees and volunteers. In May, Mike Fawcett stepped down from his role as Head of Centre but retained his role as Educational Visits and Outdoor Education Adviser and Trustee. Mike has been at the heart of our Trust since its inception in 2018 and was an integral part of the action taken to save the centre from closure in 2017, and again in 2020 during the pandemic. The Trust, the centre team and our customers are indebted to Mike's determination, commitment and passion. I would also like to thank Dave Grimes, Operations Manager, for stepping up as acting Head of Centre, and Matt Freer for taking on the role of Strategic Lead. |
In Dec 2023, our Chair of Trustees, Alistair Morriss took the decision to step down. During a difficult year for the centre and the Trust, Alistair worked tirelessly alongside the Board of Trustees and the centre team to make sure we delivered our charitable objects, increased our financial security, and progressed our ambitious plans to improve the centre's facilities. As a result of this resignation, we have seen the potential value of having a Vice-Chair and this is something we will reflect on as we look at the long-term sustainability of the Board of Trustees |
. |
Running alongside our centre operation has been our building project, providing new dining, catering, meeting, accommodation and washing facilities for the centre. Due to the close proximity of the centre to Longtown Castle and the historic settlement of Longtown and its designation as a Scheduled Ancient Monument the planning process has been extremely complex and elongated. However, we were finally awarded planning permission in March 2023. Unfortunately, the increase in building material costs since 2020 and the compromises made to the design and functionality of the building created some doubt on whether we would get a strong enough return on our investment. In November, together with The Wilson Foundation, we made the decision to pause the project whilst we investigated alternative options using the centre's existing footprint. This will be a key priority for 2024 as we seek a long-term solution to our kitchen/dining facilities. |
We remain extremely grateful to our landlord and partners, The Wilson Foundation, for their continued support and dedication provided to the centre, to help it deliver adventurous activities to young people. As our landlord, The Wilson Foundation continues to invest in the long-term sustainability of our centre. As a partner, The Wilson Foundation's bursary scheme continues to provide struggling families with the opportunity to send their children on a residential school trip to Longtown, despite their financial hardship. |
Finally, I would like to say a huge thank you to all our trustees, employees, volunteers, and freelancers who have given their all to make sure we delight our customers and deliver on our charitable objectives. |
Fran Dickson |
Chair of Trustees |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Report from the Director |
2023 has been a very successful year, with an increase in the number of school children benefitting from our outdoor learning and adventure programmes, despite a trend towards shorter durations and smaller group sizes. This represents a critical contribution to our success as school residentials make up to 79% of our total income. The centre team has worked hard to ensure that bookings meet but do not exceed available staffing capacity. A variety of weekend and summer holiday bookings have been taken, broadly in line with 2022 booking levels. |
However, success has come with its own challenges. Increased competition in the employment market made it difficult to fill our staff establishments and this increased the pressure on our existing team. We are hugely thankful to our staff, freelancers and volunteers for their professionalism, dedication, and willingness to go beyond the call of duty to make sure every child was able to build their character and resilience in a safe and encouraging environment. |
For a small team, there has been significant staff and trustee turnover this year and we are now in the process of rebuilding and retaining a team to deliver our objects in 2024 and beyond. |
Customer satisfaction is at the heart of our strategy. We have a high proportion of returning customers from Northamptonshire and the local area and we work hard to ensure they have a successful trip and come back the following year. |
Our charitable objects are achieved by working with mainstream and special schools, clubs, youth organisations and charities. We manage our costs very carefully to keep our prices down as we know this is important to our customers. |
In 2023, LOLT's Educational Visits Advisory Service (EVAS) contributed 13% of the Trust's total income, comprising EVA support £80,332 and EVA training £21,304. Despite continuing challenges in a competitive marketplace, income from Service Level Agreements (SLAs) for advisory support has remained strong. SLA income exceeded budget by 6% but this masks the fact that a couple of important SLAs were not renewed in September (due to schools joining Multi Academy Trusts and being required to switch to a different advisory service). However, the loss of those SLAs was compensated for by a new, larger SLA for the CATS Global group of 8 independent schools. EVAS cash flow was impacted by some problems with the administration of the renewal process and a significant number of late renewals. Improved systems have been applied for academic year 2024/25 with early success. |
EVAS training income exceeded budget by 49%. However, this figure includes the provision of some one-off closed courses for the E-ACT MAT and Barking and Dagenham council. The trend of booking numbers for LOLT's open courses is reducing, primarily due to the growth of on-line courses so it is not expected that the growth of training income will be sustained. With agreement from the board, LOLT's Outdoor Education Adviser was elected to a 2-year role as Chair of the Midlands Panel of Outdoor Education Advisers and member of the National Board. |
In 2023, both discretionary and blanket bursaries were offered to Northamptonshire schools funded by The Wilson Foundation. The original blanket bursary scheme was established in academic year 21/22 for 2 years. In 2023 additional funding was agreed by The Wilson Foundation to extend the blanket bursary scheme until April 2024 when it was agreed the scheme would end. The blanket bursary scheme has had a transformative impact in enabling many children from Northamptonshire to attend residential outdoor learning courses. |
After three years of hard work and with some amazing support from the local community and the tireless work of those involved, we were finally given planning permission for a new build in the grounds of the centre. The purpose of this build is primarily to increase our catering and dining facilities whilst increasing our indoor accommodation, toilets and showers. However, since the cost of building materials and labour have increased significantly in the last three years and despite making several compromises to the design and functionality of the new build, we are unable to achieve an acceptable return on investment. We are now exploring alternative options using our existing buildings to increase our kitchen/dining space and to provide an alternative option to hiring in toilets and showers for our campsite. |
LOLT's recovery from the significant financial impacts of the pandemic continues to be strong and this year we have made a surplus of £174,722, which has enabled us to top up our reserves. |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Residential visits continue to contribute the majority of the LOLT's income, and we are continuing to see a trend towards shorter durations which presents us with additional challenges in terms of cleaning, catering, and staffing costs. We are also seeing a drop in group sizes as more parents are feeling the impact of the cost of living crisis. Our pricing strategy and our bursary schemes have helped to provide support for schools and parents, but this is unsustainable in the long term as our operating costs continue to rise. |
The Base Camp campground enables us to increase our bed stock between May and July. There are additional costs associated with this operation, including extra staffing and the hire of portable toilets and showers (£20,000), but it enables us to work with more young people during the most popular time of the year for schools and groups. |
Finally, our partnership with The Wilson Foundation continues to be critical to the centre operation and to our charitable aims and we are looking forward to working with our partners to deliver a successful 2024 season. |
Giles Smith |
Centre Director |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
OBJECTIVES AND ACTIVITIES |
Longtown Outdoor Learning Trust (LOLT) is a charity providing affordable opportunities and facilities for outdoor learning and adventure to grow the character and resilience of (young) people as individuals and members of society. |
As we strive to achieve our vision, we aspire to be a nationally renowned centre of excellence for outdoor learning and adventure. In shaping and setting out our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit. |
LOLT furthers its charitable purposes for the public benefit through: |
1 | Advancing the education of the public by the provision of educational courses, and to promote learning and development through participation in educational, recreational or leisure activities. |
2 | Relieving the poverty of young people by the provision of affordable opportunities to enable them to participate in healthy recreational activities. |
3 | Providing facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. |
4 | Helping young people, especially but not exclusively through recreational and leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society. |
As the nation continues its recovery from the blight of the pandemic, LOLT is making a strong contribution to the recovery process. The Trust's 'Character and Resilience' framework clearly identifies the positive outcomes of the programmes on offer:- |
- Health and Wellbeing |
- Activity as Therapy |
- Social Interactions |
- Learning |
- Physical Activity |
- Natural Connections |
Our full strategy can be found on our website - in summary to achieve our Charitable objectives, aims and the Character and Resilience framework, we have identified the following Strategic Goals: |
Ensure strong and resilient finances |
1.1 To develop strong and secure finances |
1.2 To build financial reserves for future projects |
1.3 To fundraise to enable a broad range of users to access programmes through bursary support |
Develop and sustain the LOLT team |
2.1 To build and continually develop a strong and resilient staff team |
2.2 To develop and sustain a community volunteer network |
Improve the centre's buildings, grounds and facilities |
3.1 To increase the centre's catering and dining capacity |
3.2 To continue the ongoing improvement of existing facilities to maximise the value of our location |
3.3 To develop facilities for new onsite activities |
3.4 To improve the efficiency of maintenance processes |
3.5 To reduce the centre's carbon footprint |
3.6 To improve the centre's ICT connectivity and infrastructure |
3.7 To improve the site security to deter intruders and theft |
Communicate the impact and value of outdoor learning and adventure |
4.1 To advocate the impact and value of outdoor learning and adventure |
4.2 To capture and communicate the impact of LOLT |
4.3 To develop our capacity to communicate and market ourselves effectively |
4.4 To grow the network of local adventure provision for teenagers |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
The Trust has continued to achieve its charitable purposes through the following activities: |
January - May: | School residential programmes, holiday clubs, charity residential programmes, and Holiday Activities and Food (HAF) programme. |
May - July: | School residential programmes (based in accommodation and the campground), day visits, weekend programmes for youth organisations. |
August: | HAF programmes, community day activities, charity residential programmes. |
September - December: | School residential programmes, day and weekend programmes for youth organisations. |
The Summer Holiday Activity and Food (HAF) programme provides a specific example of how the Trust achieves its charitable objectives: 183 children were able to take part in the programme (an increase of 150% on 2022). The programme ran for 9 days across 2 weeks in Easter and the summer holidays. |
Children had the opportunity to engage in a range of adventurous and outdoor activities both on-site (e.g. paddleboarding, archery, high ropes courses, shelter building) and off-site (gorge walking, rock climbing). For many children this was their first opportunity to experience these activities and spend time in the outdoors. This was particularly significant when set against the impact of the cost of living crisis and the impact this has particularly had on financially disadvantaged families. The activities on offer were both enriching and physical. |
Healthy hot meals were provided for the children each day, with children also learning the skills of preparing their own sandwiches for their lunch. |
This is an excerpt from one of our HAF case studies. |
Question: What has been the impact? |
"Participating in a whole day of activities in an unfamiliar setting with new adults and peers is a huge achievement for JB. When encouraged to reflect on the day he reacted positively, stating that he had made two new friends and 'had an awesome time'. He was able to feel proud of his success and expressed that he'd like to come back to Longtown for more HAF sessions in the future." |
JB's parents were extremely grateful and explained how rare it was that all of their children could participate and enjoy themselves. |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FINANCIAL REVIEW |
Financial results for the year ended 31 December 2023. |
Residential educational course income was £567,462 compared with only £494,832 in 2022. |
Income from non-residential educational courses decreased, from £46,564 to £31,277. |
Educational Visits Advisory Service income increased to £80,332 for advice/support (£70,188 in 2022) and £21,304 for training (£9,430 in 2022). |
Self-catering increased to £18,518 (£6,727 in 2022). |
The Wilson Foundation provided £58,028 of donations (up from £47,860 in 2022). This included 'blanket bursaries' for all Northamptonshire schools (restricted funds). |
An increase in some wholesale prices, due to global events such as the war in Ukraine, affected many areas of the Trust's operation. Utilities and property repairs rose considerably. However, cost of sales, including wages and freelance costs, increased in line with turnover. |
LOLT made a surplus of £174,722 in the year to 31 December 2023 compared with a surplus of £176,673 in 2022. The surplus was achieved because of all the hard work of the staff over the year. |
The surplus is reflected in the increase in cash held at various banks by LOLT which increased from £458,824 at the end of 2022 to £642,055 on 31 December 2023. |
Reserves |
Unrestricted reserves increased by £ 174,139 over the year. Restricted reserves increased by £583. |
On 31 December 2023 the charity held total reserves of £615,451 (2022 - £441,729) of which £644 (2022 - £61) related to restricted reserves and £615,807 (2022 - £441,668) of unrestricted reserves. Free reserves [unrestricted net current assets/(liabilities)] at the year-end amounted to £589,882 (2022 - £420,038) |
Volunteer contributions |
LOLT has continued to benefit significantly from local connections and support during the year. |
In addition, Trustees/Directors provided in excess of 250 hours of volunteering time to the running of the Trust. However, there is general agreement that this is not a sustainable model. |
Our access and bursary policies |
LOLT is a charity which seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of the Trust whilst being consistent with our aim of providing a first class experience to all participants. |
The Trust welcomes participants from all backgrounds. The Trust is committed to safeguarding and promoting the welfare of our participants and expects all staff and volunteers to share this commitment. We always provide customer feedback questionnaires at the end of all courses for completion by participants' schools and employers. The comments received are taken very seriously and all questionnaires are reviewed. We are constantly striving to make sure that our courses are linked to relevant objectives and provide a truly educational benefit for participants. We believe our participants benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our participants develop an understanding of the perspectives of other people that will be vital in their adult lives. |
The Trust offer two bursaries: |
The Wilson Foundation Bursary - for children from Northamptonshire, funded by The Wilson Foundation. |
The Longtown Bursary - for children from Herefordshire and other counties, funded from the Trust's general funds. |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Our bursary policy contributes to a widening of access to the courses we offer and the facilities we enjoy. The trustees view our bursary awards as important in helping to ensure young people from families who would not otherwise be able to afford the fees are able to access the courses we offer. Our bursary awards are available to all who meet our requirements. The bursary awards provide up to 30% remission of course fees depending on the financial circumstances of the young people in question. |
Reserves policy |
The holding of a reserve will allow LOLT to plan for the future - absorbing setbacks and maximising opportunities including: |
- To fund unexpected expenditure, for example when projects overrun, or unplanned events occur. |
- To fund shortfall in income, when income does not reach expected levels. |
- To accumulate funds for major projects or events. |
Having taken stock of practice more widely in the sector externally, and considered various factors internally, including analysing income and expenditure trends and risks, it has been agreed by trustees that LOLT will establish sufficient free reserves to provide cover for a minimum of three months expenditure in relation to known liabilities. |
Investment Policy |
LOLT adheres to the ethical investment policy regulations of the Co-operative Bank and Monmouthshire Building Society. |
Business Risk Management |
LOLT has a Business Risk Management Policy which is reviewed annually. The Head of Centre is responsible for the overall management of LOLT's operations and activities and associated risks. A summary of the most significant business risks and their mitigating controls is held on a Risk Register which is reviewed and updated on a six monthly basis by the Board of Trustees. |
The business risks are considered in five sections - Customers, Operations, Staff, Finance and Buildings. Those business activities with a residual risk rating Medium or above are continuously monitored with the aim of adding mitigating controls to reduce ratings to Low. |
Safeguarding |
The growth and development of children and young people in a safe and stimulating environment is right at the heart of our beliefs and operations as an organisation. As such, safeguarding is an important part of our operations - day to day and at a strategic level. We have developed a Safeguarding Policy to reflect this, which is checked and updated at least yearly and can be viewed on our website. |
Fundraising Approach and Performance |
The principal area of success in fundraising has been that of applying for and receiving funds from Herefordshire Council to deliver the Holiday Food and Activity (HAF) programme. Each HAF funding award is contingent upon the submission of a report that evaluates the success of the programmes. Reports have been completed and submitted for Easter, Summer and Winter 2023 identifying considerable success as well as suggestions for improvement. |
Going Concern |
LOLT Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. |
The continuing impact of the ongoing general economic climate are addressed and updated through the LOLT's business risk management processes. Trustees have carefully considered the impact of sharply rising energy, fuel and food prices on the charity's cost base and on the ability of parents to pay course fees. This is monitored regularly and increases in fees from Autumn 2023 onwards have helped mitigate the increase in costs. There remains trading uncertainty for 2024/25, but Trustees believe that a combination of a loyal base of residential and Educational Visit Advice customers, a continued expansion of day, evening and short-break bookings, support from the bursary schemes, and sufficient balance sheet resources mean that the charity will be able to continue to meet customer requirements and ongoing liabilities for the foreseeable future. |
Plans for future periods |
We will continue to deliver our strategic plan for 2022 - 2027, with a focus on the following key areas: |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1 | To develop a strong and resilient team of trustees, employees, volunteers and freelancers. |
2 | To investigate options for repurposing our existing facilities to enable us to provide a modern commercial kitchen, |
3 | To ensure we continue to reach children and young people that might otherwise miss out on opportunities to build their character and resilience due to financial hardship, disability, or social circumstances |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Incorporation |
Longtown Outdoor Learning Trust (LOLT) is a registered charity limited by guarantee, incorporated on the 4 April 2018. The company commenced trading on 23 September 2018 and obtained full charity status and registration with the charity commission on the 16 October 2018. |
Governing Document |
The Governing document of LOLT is its Memorandum and Articles of Association. |
In setting our objectives and planning our activities, the trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee charging. |
Our Principles of Governance document sets out how the day to day management of the trust takes place, highlighting where responsibility lies for decision making in general and specifically for certain governance areas, and also identifies a trustee lead and linked trustees and staff for each area. This document is updated regularly as trustees and staff change, but at least every three years. |
Appointment of Trustees |
Throughout the year we have met regularly to support LOLT and ensure it continues to thrive and be well managed as a charitable business with good governance and operational procedures. We continue to update and develop procedures and policies to enable the smooth and safe running of LOLT, following a plan to ensure all appropriate policies and procedures are renewed regularly. The current trustees, listed on page one, are also the directors and members of the company. The liability of members is limited and their individual limit of guarantee is £1. There are no members of The Trust who are not trustees. |
The Board of Directors shall consist of a minimum of 3 trustees. Currently at the date of this report LOLT has 9 trustees, appointed for their skills, experience and commitment. |
New trustees are elected at the AGM or by the board at a regular meeting and serve for a period of 3 years. Thereafter, trustees may be re-elected for one further term of three years. |
Trustees may serve for further periods of 3 years only if agreed by the Board. Once a trustee retires from the Board, he/she may not stand for re-appointment before the lapse of a minimum of one year. |
During the year, 6 trustees resigned from the Board and 3 new trustees were appointed. At the AGM in September, 3 retired and were re-appointed as trustees. |
Trustee Induction and Training |
The key element of the induction is to ensure sound understanding of the charity's mission, vision, values and strategy as well as the legal obligations of trustees. The induction process for new Trustees involves a combination of provision of key documents plus communications and face to face discussions with key staff and Trustee representatives. |
Organisation |
Trustee meetings take place once a quarter and are supported by the processes and policies outlined in the Principles of Governance document. |
At the quarterly trustee meetings, the trustees agree the broad strategy and areas of activity for Longtown Outdoor Learning Trust, including reserves, risk and performance. The day to day administration and management are delegated to the staff team, with support provided by trustees as necessary. |
The Director and the Chair of the Trustees communicate on a regular basis (usually weekly). |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Remuneration policy for staff and trustees |
All trustees volunteer their trustee time on an un-paid basis. When trustees undertake work for LOLT in a professional capacity they are paid for the work on a commercial basis which, in accordance with Charity Commission guidelines, is agreed by resolution at a general meeting and minuted, and paid on presentation of an appropriate invoice. |
During the year Mr M D Freer, a trustee, provided consultancy services for the sum of £3,600 (2022 - £101). |
A 10% discount is offered to trustees when booking themselves or their dependants on courses offered by LOLT. |
The pay of the staff is reviewed annually with the support of the Board and is considered in line with the growth of the organisation alongside bench-marking within the sector. |
Related parties and other charities and organisations |
The Trustees/Directors continue to develop good relationships with The Wilson Foundation, and are very grateful to them for their continued support and development of the site. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Longtown Outdoor Learning Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
Independent examiner's report to the trustees of Longtown Outdoor Learning Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
S A Tindall |
The Association of Chartered Certified Accountants |
Lockett & Co |
Chartered Certified Accountants |
Shelton House |
Coningsby Street |
Hereford |
Herefordshire |
HR1 2DY |
12 September 2024 |
LONGTOWN OUTDOOR LEARNING TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Charitable activities | 6 |
Other trading activities | 4 |
Investment income | 5 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities | 7 |
Other | 10 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 441,729 |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 16 |
CURRENT ASSETS |
Stocks | 17 |
Debtors | 18 |
Cash at bank and in hand | 19 |
CREDITORS |
Amounts falling due within one year | 20 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME | 22 | ( |
) | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 23 |
Unrestricted funds | 441,668 |
Restricted funds | 61 |
TOTAL FUNDS | 441,729 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
LONGTOWN OUTDOOR LEARNING TRUST (REGISTERED NUMBER: 11291732) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
LONGTOWN OUTDOOR LEARNING TRUST |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 191,778 | 190,266 |
Interest paid | - | (85 | ) |
Net cash provided by operating activities | 191,778 | 190,181 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (10,921 | ) | (1,000 | ) |
Interest received | 3,512 | 143 |
Net cash used in investing activities | (7,409 | ) | (857 | ) |
Change in cash and cash equivalents in the reporting period |
184,369 |
189,324 |
Cash and cash equivalents at the beginning of the reporting period |
458,929 |
269,605 |
Cash and cash equivalents at the end of the reporting period |
643,298 |
458,929 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
174,722 |
176,673 |
Adjustments for: |
Depreciation charges | 6,626 | 7,204 |
Interest received | (3,512 | ) | (143 | ) |
Interest paid | - | 85 |
(Increase)/decrease in stocks | (669 | ) | 1,553 |
Decrease/(increase) in debtors | 11,134 | (16,797 | ) |
Increase in creditors | 3,477 | 21,691 |
Net cash provided by operations | 191,778 | 190,266 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 458,929 | 184,369 | 643,298 |
458,929 | 184,369 | 643,298 |
Total | 458,929 | 184,369 | 643,298 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | GENERAL INFORMATION |
The charity is a private company limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found on page 1. The members of the charitable company are the trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are presented in sterling which is the functional currency of the charitable company and rounded to the nearest pound. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
Government Grants |
Government grants are recognised using the performance model and are credited to the Statement of Financial Activities as the related expenditure is incurred, any deferred element of grants is included in creditors as deferred income. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. |
All expenditure is inclusive of irrecoverable VAT. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Items or specific group of items costing more than £500 that are considered to have a useful life of longer than the financial period in which they were purchased are capitalised. |
Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life. |
Motor vehicles | - 25% on reducing balance |
Plant and equipment | - 25% on reducing balance |
Office furniture and equipment | - 25% on reducing balance |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Fund accounting |
General funds are unrestricted funds and can be used in accordance with the charitable objectives of the charity at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
The aim and use of each restricted fund is: |
The Wilson Foundation Bursary fund is for the purpose of giving financially disadvantaged children and young persons who live in Northamptonshire access to the residential courses run by the charity. |
Pension costs and other post-retirement benefits |
The charitable company operates defined contribution pension schemes. Contributions payable to the charitable company's pension schemes are charged to the Statement of Financial Activities in the period to which they relate. |
Donated goods and services |
Assets donated to the charitable company are recognised at the point of donation, and valued at their market value. |
In accordance with the Charities SORP (FRS 102) the value of services provided by volunteers is not recognised. The Trustees annual report contains further information about the invaluable contribution provided by volunteers. |
Debtors |
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at bank and in hand |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Liabilities and provisions |
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably. |
Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advance payments for goods or services it must provide. |
Provisions are measured at the best estimate of the amounts required to settle the obligation. |
Financial instruments |
Financial assets and liabilities are recognised on the balance sheet when the charitable company becomes party to the contractual provisions of the financial instruments. |
The charitable company's financial assets and liabilities are basic financial instruments, initially recognised at transaction value and subsequently measured at their settlement value. |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
These financial statements have been prepared on the going concern basis, which assumes that the charitable company will continue its activities for the foreseeable future. |
The trustees have considered the ongoing economic climate in relation to the charity and its operations and continue to regularly monitor the position and evolve their contingency plans. The trustees believe that with their existing reserves, careful financial management and loyal customer base, the charity is able to see through this current trading uncertainty. |
The trustees consider that the plans and measures taken will allow the charity to manage the current situation and continue to meet its customer requirements and ongoing liabilities for the foreseeable future and at least twelve months from the date of approval of these financial statements. Therefore the trustees continue to adopt the going concern basis of accounting. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Donations | 677 | - |
Grants | - | - |
The Wilson Foundation | 2,711 | 55,317 | 58,028 | 47,860 |
3,388 | 55,317 |
Government Grants |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Apprenticeship grant | - | 9,000 |
4. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Self catering | 18,518 | - |
Bed and breakfast | 3,839 | - | 3,839 | - |
Shop income | 6,749 | - | 6,749 | 5,836 |
29,106 | - |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | INVESTMENT INCOME |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Rents received | 6,643 | - |
Deposit account interest | 2,929 | 583 |
9,572 | 583 |
6. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Residential educational courses |
Centre activities and bookings |
567,462 |
494,832 |
Non residential educational courses |
Centre activities and bookings |
31,277 |
46,564 |
Education advisory training | Centre activities and bookings | 21,304 | 9,430 |
Education advisory support | Centre activities and bookings | 80,332 | 70,188 |
7. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
Direct | activities |
Costs (see | (see note |
note 8) | 9) | Totals |
£ | £ | £ |
Centre activities and bookings | 542,923 | 58,778 | 601,701 |
8. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2023 | 2022 |
£ | £ |
Trustees' remuneration etc | 42,934 | 55,073 |
Staff costs | 219,202 | 162,614 |
Vehicle and equipment hire | 18,664 | 21,414 |
Rent | 1 | 1 |
Rates and water | 5,321 | 3,870 |
Insurance | 13,898 | 12,982 |
Light and heat | 36,743 | 23,424 |
Telephone | 1,994 | 1,426 |
Postage and stationery | 1,068 | 897 |
Advertising | 1,506 | 624 |
Property repairs | 25,471 | 15,886 |
Food and drink | 52,343 | 50,588 |
Consumables | 437 | 1,711 |
Educational literature | 1,602 | 1,037 |
Outside course centres | 74 | 60 |
Subcontractors | 43,829 | 40,612 |
Travelling | 954 | 523 |
Motor expenses | 14,443 | 15,421 |
Carried forward | 480,484 | 408,163 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | DIRECT COSTS OF CHARITABLE ACTIVITIES - continued |
2023 | 2022 |
£ | £ |
Brought forward | 480,484 | 408,163 |
Repairs and renewals | 9,045 | 3,827 |
Cleaning materials and waste disposal | 6,176 | 6,363 |
Training | 3,486 | 13,435 |
Subsistence | 353 | 143 |
Health and safety | 6,287 | 2,386 |
Computer expenses | 5,420 | 7,515 |
Sundry expenses | 2,116 | 2,439 |
Subscriptions | 1,901 | 1,600 |
Bad debts | 3,541 | 708 |
Payroll bureau | 2,244 | 2,425 |
Bookkeeping | 1,834 | 1,916 |
Accountancy | 4,394 | 4,302 |
Legal and professional fees | 9,133 | 5,221 |
Bank charges | 180 | 331 |
Depreciation | 6,329 | 7,044 |
Interest payable and similar charges | - | 83 |
542,923 | 467,901 |
9. | GRANTS PAYABLE |
2023 | 2022 |
£ | £ |
Centre activities and bookings | 58,778 | 41,559 |
The total grants paid to individuals during the year was as follows: |
2023 | 2022 |
£ | £ |
Wilson Foundation Bursary | 55,317 | 39,297 |
LOLT Bursary | 3,461 | 2,262 |
10. | OTHER |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Trustees' remuneration and staff costs | 12,073 | - | 12,073 | 4,824 |
Vehicle and equipment hire | 876 | - | 876 | 488 |
Rates and water | 250 | - | 250 | 88 |
Insurance | 652 | - | 652 | 296 |
Light and heat | 1,725 | - | 1,725 | 534 |
Telephone | 83 | - | 83 | 29 |
Postage and stationery | 44 | - | 44 | 18 |
Advertising | 63 | - | 63 | 13 |
Property repairs | 1,196 | - | 1,196 | 362 |
Food and drink | 354 | - | 354 | - |
Purchases - Shop | 1,922 | - | 1,922 | 2,918 |
Carried forward | 19,238 | - | 19,238 | 9,570 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | OTHER - continued |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Brought forward | 19,238 | - | 19,238 | 9,570 |
Motor expenses | 600 | - | 600 | 312 |
Repairs and renewals | 425 | - | 425 | 87 |
Cleaning materials and waste disposal | 290 | - | 290 | 145 |
Training | 164 | - | 164 | 306 |
Subsistence | 17 | - | 17 | 3 |
Health and safety | 295 | - | 295 | 54 |
Computer expenses | 254 | - | 254 | 171 |
Sundry expenses | 99 | - | 99 | 56 |
Subscriptions | 89 | - | 89 | 37 |
Payroll bureau | 105 | - | 105 | 55 |
Bookkeeping | 86 | - | 86 | 44 |
Accountancy | 206 | - | 206 | 98 |
Legal and professional fees | 429 | - | 429 | 119 |
Bank charges | 7 | - | 7 | 7 |
Depreciation | 297 | - | 297 | 160 |
Interest payable and similar charges | - | - | - | 2 |
22,601 | - |
11. | NET INCOME/(EXPENDITURE) |
The net income/(expenditure) is stated after charging the following exceptional item: |
Bad debts £3,541 (2022 - £708) |
12. | TRUSTEES' REMUNERATION AND BENEFITS |
2023 | 2022 |
£ | £ |
Trustees' salaries |
Trustees' social security |
Trustees' pension contributions to money purchase schemes |
Mr M S Fawcett a trustee, is employed and remunerated by the charitable company in his capacity as an employee as permitted by the articles. Details of his remuneration is stated above. |
No other trustees were remunerated or received benefits. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
274,209 | 222,511 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Management | 3 | 3 |
Tutors | 7 | 6 |
Domestic staff | 1 | 1 |
No employees received emoluments in excess of £60,000 |
Total trustee and key management personnel remuneration and benefits were £79,109 (2022 - £56,188) |
14. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 265,056 | - |
TOTAL FUNDS CARRIED FORWARD | 441,668 | 61 | 441,729 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
15. | INDEPENDENT EXAMINERS REMUNERATION |
2023 | 2022 |
£ | £ |
Fees for the independent examination of the accounts for the period | 2,400 | 2,400 |
Fees for other financial services | 10,328 | 10,680 |
16. | TANGIBLE FIXED ASSETS |
Office |
furniture |
Plant and | and | Motor |
equipment | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
17. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
18. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | CASH AT BANK AND IN HAND |
2023 | 2022 |
Wilson |
Foundation |
General | Bursary | Total | Total |
fund | fund | funds | funds |
£ | £ | £ | £ |
Cash in hand | 1,243 | - |
Bank account no 1 | 290,879 | 778 | 291,657 | 156,937 |
Bank account no 2 | - | 100 | 100 | 100 |
Bank deposit account 1 | 215,389 | - | 215,389 | 168,481 |
Bank deposit account 2 | 39,297 | 9,560 | 48,857 | 48,274 |
Bank deposit account 3 | 86,052 | - | 86,052 | 85,032 |
Total | 632,860 | 10,438 |
20. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
Sundry creditors and accruals |
Deposits in advance | 16,000 | 25,694 |
21. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
22. | ACCRUALS AND DEFERRED INCOME |
Deferred income comprises Education advisory support and Bursary income. |
Education advisory support income is deferred so as to recognise the income at the time the service is provided. |
2023 | 2022 |
£ | £ |
Deferred income brought forward | 51,149 | 44,508 |
Income invoiced in period | 87,000 | 76,829 |
Deferred income carried forward | (57,817 | ) | (51,149 | ) |
Income recognised for the period | 80,332 | 70,188 |
Bursary income received for the period 1 September 2023 to 31 August 2024 but not awarded by the year end is deferred to be recognised in the following year. |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
22. | ACCRUALS AND DEFERRED INCOME - continued |
2023 | 2022 |
£ | £ |
Deferred income brought forward | 9,016 | 16,813 |
Income received | 56,095 | 31,500 |
Deferred income carried forward | (9,794 | ) | (9,016 | ) |
Income recognised for the period | 55,317 | 39,297 |
2023 | 2022 |
£ | £ |
Education Advisory Support income carried forward | 57,817 | 51,149 |
Bursary income carried forward | 9,794 | 9,016 |
Total deferred income | 67,611 | 60,165 |
23. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 441,668 | 174,139 | 615,807 |
Restricted funds |
Wilson Foundation Bursary fund | 61 | 583 | 644 |
TOTAL FUNDS | 174,722 | 616,451 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 743,124 | (568,985 | ) | 174,139 |
Restricted funds |
Wilson Foundation Bursary fund | 55,900 | (55,317 | ) | 583 |
TOTAL FUNDS | ( |
) | 174,722 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
23. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 265,056 | 176,612 | 441,668 |
Restricted funds |
Wilson Foundation Bursary fund | - | 61 | 61 |
TOTAL FUNDS | 265,056 | 176,673 | 441,729 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 658,001 | (481,389 | ) | 176,612 |
Restricted funds |
Wilson Foundation Bursary fund | 39,358 | (39,297 | ) | 61 |
TOTAL FUNDS | 697,359 | (520,686 | ) | 176,673 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 265,056 | 350,751 | 615,807 |
Restricted funds |
Wilson Foundation Bursary fund | - | 644 | 644 |
TOTAL FUNDS | 265,056 | 351,395 | 616,451 |
LONGTOWN OUTDOOR LEARNING TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
23. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,401,125 | (1,050,374 | ) | 350,751 |
Restricted funds |
Wilson Foundation Bursary fund | 95,258 | (94,614 | ) | 644 |
TOTAL FUNDS | 1,496,383 | (1,144,988 | ) | 351,395 |
24. | RELATED PARTY DISCLOSURES |
During the year, the charitable company, as licensor, entered into a grazing licence agreement with Mr E D Philips, husband of Mrs C Philips, a trustee of the charitable company, for a fee of £1 (2022: £1). Amounts outstanding at the year end - £nil (2022 - £nil). |
During the year, Mr M D Freer, trustee of the charitable company, provided consultancy services to the charitable company for the sum of £3,600. (2022 - £101). Amounts outstanding at the year end - £nil (2022 - £nil). |
25. | PENSION COMMITMENTS |
The charitable company operates a defined contribution pension scheme. |
Contributions are charged to the Statement of Financial Activities in the period which they are payable. The pension charge for the period represents contributions payable to the scheme of £8,946 (2022 - £12,086) Contributions outstanding at the period end were £nil (2022 - £1,130). |