Charity registration number 1087766 (England and Wales)
Company registration number 04240017
CRANEDALE EDUCATIONAL CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
CRANEDALE EDUCATIONAL CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A W A Outhwaite
Mrs M E Outhwaite
Mr J P Midgley
Mr R E France
Mr R H R Innes
Secretary
Mrs M E Outhwaite
Charity number
1087766
Company number
04240017
Registered office
Manor Farm
Kirby Grindalythe
Malton
North Yorkshire
UK
YO17 8DB
Independent examiner
David Walker FCA
124 Acomb Road
York
YO24 4EY
Bankers
HSBC UK Bank Plc
27 Market Place
Malton
YO17 7LU
CRANEDALE EDUCATIONAL CHARITABLE TRUST
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7 - 8
Statement of cash flows
9
Notes to the financial statements
10 - 23
CRANEDALE EDUCATIONAL CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's memorandum and articles of association, the Companies Act 2006 and "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)".

Objectives and activities

 

The trust 's objects are the advancement of the public benefit of education concerning the natural environment and knowledge of the living world.

 

The policies adopted in furtherance of these objects is the operation of an educational field centre. There has been no change in this during the year.

The general aims of the trust remain the education, mainly of children, through its field centre, in matters concerning the natural environment.

Objectives for the year were, as previously, the effective running of the field centre and the provision of high quality field courses and services.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Activities

The Charitable Trust is a market leader in the provision of high quality field courses and promotes its services to schools and colleges nationwide.

This academic year saw our person day figures bounce back a little to 12,203 person days, an 8.8% rise on last year. However 2022-2023 was the lowest year for 22 years (not including COVID), this year the person day total of 12,203 ranked second lowest for 22 years. The slight increase came partly by us increasing the number of residential courses we ran to 181 (155 the previous year) which shows that school appetite for residential trips thankfully remains strong. However, as school group cohort sizes continued to be stubbornly small, the person days total remains low.

Achievements and performance
Significant activities and achievements against objectives

We began the year investing in the Centre’s facilities, including a new GIS laptop suite and small scale changes to the WiFi signal strength around the Centre. These have made a significant impact to what we can offer schools and we received praise from returning customers who commented on improvements in the WiFi (and the GIS offer has also been a success and is popular with schools). We also invested in renewing the now 20 year old low ropes course, installing a new safer system with additional elements that groups can enjoy. Four tutors also attended the GA conference in Manchester to further promote the Centre.

 

Due to ageing infrastructure, we also had to place orders for a new classroom projector and visualiser which broke down. It was also decided in early 2024 to place an order for a new minibus to arrive for September 2024 (the new financial year) as during the autumn 2023 we were plagued with motor problems associated with one of our older ‘2016’ registered minibuses. This bus continued to be unreliable and needed significant work done to it over multiple instances. This not only was costly in terms of repairs but also in hire charges as the bus was stuck in the garage on too many occasions.

 

Spending remained high due to the ongoing energy crisis and this not only affected our own bills but those of our suppliers (our laundry bill increasing dramatically too).

CRANEDALE EDUCATIONAL CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

In April 2024 the rises in the National Minimum Wage also hit us hard financially, as did 3 members of our teaching team who announced that they would move out of Centre accommodation (resulting in the Charity needing to provide them with increased pay on a ‘live out’ basis).

 

Unforeseen expenditure was also high, our leased photocopier broke down on several occasions between January and July which saw our staff using local libraries to undertake more time consuming and expensive photocopying. The service we were getting from a large multi-national company was woeful – so much so we had to purchase another smaller printer/photocopier and sought to change supplier to a local Yorkshire based firm. Various white goods also broke down and we needed replacement washing machines for the Centre. Our Fire and Legionella Risk Assessments also brought additional costs associated which were unforeseen.

 

As the year came to an end we were not in the financial position we had hoped to be in due to high costs and low income. With a replacement minibus on order it was decided that next year will be a year of austerity to try to build up our reserves.

 

Financial review
Reserves policy

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 12 month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised.

 

Total reserves are £ 35,674 (2023 £ 46,024 ) and therefore the current amount of reserves are less than the required amount although it is the intention of the trustees to continue to generate surpluses in the future which will be retained in order adhere to the policy.

Major risks

The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees review the major risks which the trust faces on a regular basis with the trust's manager and believe that maintaining the trusts unrestricted reserves as above, combined with a regular review of the trust's finances and financial controls will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate any significant risks.

Plans for future periods

 

Assuming the person days will remain at this level (11,500-12,200 person days pa) we will look at ways to further save money across all departments (from purchasing cucumbers to selling our own minibuses in house). We will also look to diversify our income streams, including exploring Home Education courses, more Day Courses and grant funding. We will also approach all our suppliers again to see if any reductions can be made and seek alternative suppliers in some cases. We are also considering reducing staff hours, giving salaried staff the opportunity of unpaid leave.

 

The new government plan to introduce VAT to private schools for Jan 2025 will be a further challenge to us as this will put more pressure on those schools to cut costs in areas which may include reducing residential trips or for some smaller schools, close entirely.

 

CRANEDALE EDUCATIONAL CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
Structure, governance and management

 

The trust was registered with the Charity Commission on 30th July 2001 and is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association dated 22nd June 2001.

 

The trust began to operate on 1 September 2001 when the assets and liabilities of the registered charity also known as the Cranedale Educational Charitable Trust were transferred to the company at their balance sheet value.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A W A Outhwaite
Mrs M E Outhwaite
Mr J P Midgley
Mr R E France
Mr R H R Innes
Recruitment and appointment of trustees

The appointment of trustees is governed by the Articles of Association. At the annual general meeting one third of the trustees who are subject to retirement by rotation, or, if their number is not three or a multiple of three, the number nearest to one third shall retire from office; but if there is only one trustee who is subject to retirement by rotation, he shall retire.

 

Subject to the provisions of the articles, the trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment, but as between persons who became or were last reappointed trustees on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot.

 

If the charity at the meeting at which a trustee retires by rotation, does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to have been reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution for the reappointment of the trustee is put to the meeting and lost.

 

As a result, R E France and JP Midgley retire from office but, being eligible, offer themselves for re-election.

 

The charity may by ordinary resolution appoint who is willing to act to be a trustee and may also determine the rotation in which any additional trustees are to retire.

 

The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee provided that the appointment does not cause the number of trustees to exceed any number fixed by or in accordance with the articles as the maximum number of trustees. A trustee so appointed shall hold office only until the next following annual general meeting and shall not be taken into account in determining the trustees who are to retire by rotation at the meeting. If not reappointed at such annual general meeting, he shall vacate office at the conclusion thereof.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The trustees have complied with the duty imposed upon them by Section 4 of the Charities Act 2011/2006 to have due regard to guidance published by the Charity Commission.

 

The Trustees have also had regard to the Charity Commissioners guidance on public benefit.

 

The trust does not receive any services from volunteers.

Qualifying third party indemnity provisions

All new trustees are given a copy of the trust's memorandum and articles of association and are provided with booklets CC3 and CC3a from the Charity Commissioners and "Running a Limited company" from Companies House, which give guidance and advice on being a trustee and director.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
Organisational structure

The trustees meet regularly to manage the trust's affairs and delegate the day-to-day running of the trust's activities to its operational director, Mr Chris Cassells, general manager, tutors and administrative staff.

The Memorandum and Articles of Association authorises the trustees to deposit or invest in the name of the charity and part of the funds as the trustees in their absolute discretion think fit.

Relationship with wider network

The remuneration of the charity's key management personal is agreed at the current market rates applicable to the particular duties performed by the employees concerned.

Relationship with related parties

The trust has numerous schools and educational facilities who return on a regular basis to the field centre. Although no formal working relationships have been formed with any of these entities.

The trust wholly owns a subsidiary company The Cranedale Centre Limited which provides holidays and associated goods and services of a non educational nature. It also provides the trust with transport facilities. The subsidiary's results are summarised in note 21.

The trustees' report was approved by the Board of Trustees.

Mr A W A Outhwaite
Trustee
23 May 2025
CRANEDALE EDUCATIONAL CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CRANEDALE EDUCATIONAL CHARITABLE TRUST
- 5 -

I report to the trustees on my examination of the financial statements of Cranedale Educational Charitable Trust (the trust) for the year ended 31 August 2024.

Responsibilities and basis of report

As the trustees of the trust (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the trust’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England & Wales., 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 that in any material respect:

1

accounting records were not kept in respect of the trust as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements 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 financial statements 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 financial statements to be reached.

David Walker FCA
124 Acomb Road
York
YO24 4EY
23 May 2025
CRANEDALE EDUCATIONAL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
288
76
Charitable activities
4
976,792
859,991
Investments
5
12,646
11,879
Total income
989,726
871,946
Expenditure on:
Charitable activities
6
1,000,076
972,789
Total expenditure
1,000,076
972,789
Net expenditure and movement in funds
(10,350)
(100,843)
Reconciliation of funds:
Fund balances at 1 September 2023
46,024
146,867
Fund balances at 31 August 2024
35,674
46,024

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
76,205
72,100
Current assets
Stocks
13
6,960
6,984
Debtors falling due after one year
14
122,351
122,351
Debtors falling due within one year
14
18,577
35,280
Cash at bank and in hand
124,528
128,465
272,416
293,080
Creditors: amounts falling due within one year
Loans and overdrafts
15
5,800
5,500
Obligations under finance leases
16
1,158
2,355
Taxation and social security
12,715
12,710
Other creditors
17
259,483
261,734
279,156
282,299
Net current (liabilities)/assets
(6,740)
10,781
Total assets less current liabilities
69,465
82,881
Creditors: amounts falling due after more than one year
18
(33,791)
(36,857)
Net assets
35,674
46,024
Income funds
Unrestricted funds
35,674
46,024
35,674
46,024
CRANEDALE EDUCATIONAL CHARITABLE TRUST
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 8 -

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 23 May 2025
Mr A W A Outhwaite
Trustee
Company Registration No. 04240017
CRANEDALE EDUCATIONAL CHARITABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
12,482
(15,966)
Investing activities
Purchase of tangible fixed assets
(27,102)
(10,044)
Proceeds from disposal of tangible fixed assets
2,000
-
Investment income received
12,646
11,879
Net cash (used in)/generated from investing activities
(12,456)
1,835
Financing activities
Repayment of bank loans
(5,642)
(5,505)
Payment of finance leases obligations
1,679
(594)
Net cash used in financing activities
(3,963)
(6,099)
Net decrease in cash and cash equivalents
(3,937)
(20,230)
Cash and cash equivalents at beginning of year
128,465
148,695
Cash and cash equivalents at end of year
124,528
128,465
CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
1
Accounting policies
Charity information

Cranedale Educational Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Manor Farm, Kirby Grindalythe, Malton, North Yorkshire, YO17 8DB, UK.

1.1
Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include fixed asset investments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4
Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant which specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 11 -
1.5
Expenditure

Resources expended are accounted for on an accruals basis.

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

Charitable activities include expenditure associated with the field centre and educational programmes and include both direct and support costs relating to those activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Straight line over 20 years
Fixtures and fittings
Straight line over 10  years, 5 years if leased asset

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 12 -
1.10
Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 13 -
1.14

Creditors and provisions

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measure reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2
Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
288
76
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Educational
Field centre
976,792
859,991
CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rental income
600
600
Interest received on loans
9,529
9,376
Interest receivable
2,517
1,903
12,646
11,879

The rental income received arises from the letting of various parts of the centre's premises to the charitable trust's wholly owned subsidiary, Cranedale Centre Limited.

6
Expenditure on charitable activities
Field centre
Field centre
2024
2023
£
£
Direct costs
Staff costs
485,154
427,372
Depreciation and impairment
20,997
23,137
Educational purchases
70,924
73,775
Repairs & renewals
24,830
38,840
Motor expenses & travel
123,270
114,060
Teaching staff telephone
757
249
Light, heat & power
66,786
99,190
Sundry expenses
3,533
4,044
Rent & rates
33,393
33,817
Insurance
10,776
12,105
Laundry & cleaning
20,414
4,238
860,834
830,827
Share of support and governance costs (see note 7)
Support
85,459
91,525
Governance
53,783
50,437
1,000,076
972,789
Analysis by fund
Unrestricted funds
1,000,076
972,789

All the charitable activities relate to the operation of the educational field centre.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
7
Support costs
Support costs
Governance costs
2024
2023
Basis of allocation
£
£
£
£
Staff costs
61,775
28,190
89,965
86,509

Time spent

Telecommunications

4,055
-
4,055
4,518

Total Expenditure

Printing & Stationery

3,286
-
3,286
2,867

Total Expenditure

Advertising

4,034
-
4,034
3,292

Total Expenditure

Staff Training

481
-
481
1,733

Total Expenditure

Conference expenses

2,247
-
2,247
2,205

Total Expenditure

Cleaning & General Maintenance

2,937
-
2,937
9,402

Total Expenditure

IT Costs

6,644
-
6,644
7,491

Total Expenditure

Examination fees
-
2,600
2,600
2,500
Governance
Accountancy
-
1,984
1,984
1,844
Governance

Bank Charges

-
97
97
193
Governance

HP & Lease Charges

-
1,472
1,472
2,008
Governance

Bookkeeping

-
19,440
19,440
17,400
Governance
85,459
53,783
139,242
141,962
Analysed between
Charitable activities
85,459
53,783
139,242
141,962

Governance costs includes payments to the auditors of £2,600 (2023 - £2,500) for the independent examination of the financial statments and £1,984 (2023- £1,844) for other services.

8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
2,600
2,500
Depreciation of owned tangible fixed assets
19,886
22,420
Depreciation of tangible fixed assets held under finance leases
1,111
717
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

Trustees AWA Outhwaite and ME Outhwaite, husband and wife, purchased various goods and services, at full commercial rates and under normal commercial terms, from the trust during the year as follows:

 

Cleaning services £8,297 (2023- £7,428)

Domestic services £8,499 (2023- £11,300)

Motor insurance £2,677 (2023- £2,677)

 

The amounts outstanding at the year end were £nil (2023 £nil).

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
35
35
Employment costs
2024
2023
£
£
Wages and salaries
523,169
488,442
Social security costs
36,131
10,991
Other pension costs
15,819
14,448
575,119
513,881
The number of employees whose annual remuneration was more than £60,000 is as follows:
2024
2023
Number
Number
£60,000 to £70,000
1
-
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
129,213
121,076
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 17 -
12
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023
404,122
336,006
740,128
Additions
-
27,102
27,102
Disposals
-
(8,211)
(8,211)
At 31 August 2024
404,122
354,897
759,019
Depreciation and impairment
At 1 September 2023
368,865
299,163
668,028
Depreciation charged in the year
8,807
12,190
20,997
Eliminated in respect of disposals
-
(6,211)
(6,211)
At 31 August 2024
377,672
305,142
682,814
Carrying amount
At 31 August 2024
26,450
49,755
76,205
At 31 August 2023
35,257
36,843
72,100

 

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £1,111 (2023 - £717) for the year.

2024
2023
£
£
Fixtures and fittings
3,840
2,151

An impairment review of the charity's fixed assets has been undertaken. The net realisable value of the assets concerned has been assessed by estimating their market value. Their value in use has been determined by evaluating present value of the future benefits expected to arise from the continued use of the assets concerned.

 

It has been agreed that the improvements to the leasehold property will be acquired by the landlord at their written down value at the time of the landlord's terminating the trust's operating lease.

13
Stocks
2024
2023
£
£
Raw materials and consumables
6,960
6,984
CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 18 -
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by subsidiary undertakings
-
14,412
Other debtors
9,370
10,124
Prepayments and accrued income
9,207
10,744
18,577
35,280
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by subsidiary undertakings
122,351
122,351
Total debtors
140,928
157,631
15
Loans and overdrafts
2024
2023
£
£
Bank loans
35,888
41,530
Payable within one year
5,800
5,500
Payable after one year
30,088
36,030
Amounts included above which fall due after five years:
Payable by instalments
2,210
8,824

On 1st June 2020 the trust was advanced a loan of £50,000 under the Coronavirus Bounce Bank Loan Scheme. Repayable in instalments over 8 Years after an initial 12 months interest and repayment free. Interest is payable at 2.5%.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -
16
Finance lease obligations
Future minimum lease payments due under finance leases:
2024
2023
£
£
Within one year
1,296
1,439
Within two and five years
3,888
2,881
5,184
4,320
Less: future finance charges
(323)
(1,138)
4,861
3,182

.

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

17
Other creditors falling due within one year
2024
2023
£
£
Payments received on account
207,147
195,728
Trade creditors
11,766
7,505
Other creditors
20,734
21,930
Accruals and deferred income
19,836
36,571
259,483
261,734
18
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
15
30,088
36,030
Obligations under finance leases
16
3,703
827
33,791
36,857
19
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
15,819
14,448

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 20 -
20
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2023
Incoming resources
Resources expended
At 31 August 2024
£
£
£
£
General funds
46,024
989,726
(1,000,076)
35,674
Previous year:
At 1 September 2022
Incoming resources
Resources expended
At 31 August 2023
£
£
£
£
General funds
146,867
871,946
(972,789)
46,024
CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
21
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
129,213
121,076

The Cranedale Centre's freehold land is owned by Shipton Estates Limited of which Mr A W A Outhwaite, a trustee of the trust, is director and major shareholder. The centre is occupied under an operating lease, dated 1 January 2021, for 3 years, on a full repairing and insuring basis, at a rental of one acorn, if so demanded. Due to the expiration of the lease the tenancy is holding over under the landlord and tenant legislation with no notice having been served by either party.

 

On 4 January 2012 the trust entered into assured shorthold tenancies in respect of 4 domestic properties owned by Shipton Estates Limited to be occupied by the centre's tutors, the rents payable are at a full market rent and have been assessed by an independent surveyor. A rent free period was granted to the trust in respect of the coronavirus pandemic situation. The total rents paid amounted to £24,000 (2023- £24,000) with amounts outstanding at the year end of £nil (2023- £nil).

 

The trust wholly owns a subsidiary company The Cranedale Centre Limited which provides holidays and associated goods and services of a non educational nature.

 

Goods and services were purchased from the company during the year, on normal commercial terms, totalling £123,270 (2023- £114,060) with amounts outstanding at the year end of £nil (2023- £nil).

 

Goods and services were sold to the company during the year, on normal commercial terms, totalling £3,600 (2023- £3,600) with amounts outstanding at the year end of £nil (2023- £nil).

 

The trust receives a rent from the company, in respect of a 12 month licence, renewable yearly, for the company to occupy and use, including trading from and the hiring out of, various areas of the Cranedale Centre, payable at a sum of £600 per annum (2023- £600).

 

Donations under the Gift Aid scheme were also made to the trust, by the company, during the year totalling £nil (2023- £nil). The amount owing at the year end was £0 (2023- £ 0).    

 

The trust has supported it's wholly owned subsidiary during the year and has an unsecured loan due from the company which has a balance at 31 August 2024 of £122351 (2023- £136763).

 

The loan is repayable in full on 13 July 2025, and interest is payable at 2% above HSBC base rates, per annum.

 

 

 

 

 

 

 

 

CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 22 -
22
Subsidiaries

These financial statements are separate trust financial statements for Cranedale Educational Charitable Trust for the year ending 31 August 2024.

Separate company financial statements are prepared in compliance with Companies Act 2006. Consolidated financial statements for the group are not required to be prepared in accordance with Companies Act 2006 and the Charities Act.

 

Separate financial statements for the trusts subsidiary, Cranedale Centre Limited are prepared and can be obtained from the registered office.

Details of the trust's subsidiaries at 31 August 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Cranedale Centre Limited
UK
Educational Services
Ordinary
100.00
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Cranedale Centre Limited
7,407
1,180

The investments in subsidiaries are all stated at fair value.

23
Cash generated from/(absorbed by) operations
2024
2023
£
£
Deficit for the year
(10,350)
(100,843)
Adjustments for:
Investment income recognised in statement of financial activities
(12,646)
(11,879)
Depreciation and impairment of tangible fixed assets
20,997
23,137
Movements in working capital:
Decrease in stocks
24
5,118
Decrease in debtors
16,703
23,550
(Decrease)/increase in creditors
(2,246)
44,951
Cash generated from/(absorbed by) operations
12,482
(15,966)
CRANEDALE EDUCATIONAL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 23 -
24
Analysis of changes in net funds
At 1 September 2023
Cash flows
At 31 August 2024
£
£
£
Cash at bank and in hand
128,465
(3,937)
124,528
Loans falling due within one year
(5,500)
(300)
(5,800)
Loans falling due after more than one year
(36,030)
5,942
(30,088)
Obligations under finance leases
(3,182)
(1,679)
(4,861)
83,753
26
83,779
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