REGISTERED COMPANY NUMBER: 08440819 (England and Wales)

REGISTERED CHARITY NUMBER: 1203221

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GUIDES OVER THE KENT AND LEVENS

SANDS LIMITED

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

15

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 March 2025. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects are the advancement of health and the provision of public services via the provision of trained and experienced guides ("sand pilots") to conduct members of the public across the Kent and Levens sands in Morecambe Bay ("the sands") via:

1. the promotion of community participation in healthy recreation in particular by the provision of facilities for walking on the sands in the Morecambe Bay area, an internationally important marine environment and one of only twelve nature improvement areas in the UK;

2. the promotion of public health and safety by provision of safe passage for the public over the deep channels and quicksands of the sands;

3. the provision of guided walks on the sands for charitable organisations and individuals involved in charitable fundraising activities;

4. to advance the education of the public in the subject of the history of the sand pilots and the history of routes across the sands;

5. to advance education of the public in the subject of the flora and fauna and the unique ecosystems of the sands.

Public benefit

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

ACHIEVEMENTS AND PERFORMANCE

Significant activities and achievements against objectives

12,301 people were guided across the sands during 2024, the majority across the Kent Sands, however an increasing number now using the Levens sands as well. Most of these walkers were walking for other charities or other good causes and it is estimated that a total of £1.2M was raised overall for these organisations.

Work commenced on the refurbishment of the Guides Farmhouse, which has been in a very poor state of repair for some time. The cost of this is being funded from the net funds from the sale of a building plot and also cash reserves. It is due to be completed in the backend of 2025.

FINANCIAL REVIEW

Financial position

The total income received from the walks for the Trust amounted to £58,636. This was from booking fees and or donations for that year, including the payments received in advance. This income is divided between income received for bulk bookings from charities or other good causes or walkers booked directly through the Trust. The further income for the Trust came from bank interest, wayleave payments for investment dividends. The previous year was considerably greater, but this was distorted due to the transfer of the funds from the old unincorporated charity.

Expenditure for the year is high, as the Trust pays the Guide without a house as compensation for the lack of accommodation. Also, the empty property is subject to higher rate Council Tax being empty, with costs for the electricity and water rates. The administrative costs show the marketing and booking fee for the year. This cost together with the expenses for the running of the walks totalled £20,541, reflecting the direct costs for putting on the walks.

Work has started on the house refurbishment, which is shown as additions in note 8.

The slight increase in the net asset value is due to the net income received for the year.

Investment policy and objectives

Financial investments are held with COIF Charities Investment Fund Income Units and Newton Growth & Income Fund for Charities for both long term growth and annual investment income.

Investment properties - when the charity was set up in 1877 by the Duchy of Lancaster, it appointed three local gentlemen to act as Trustees of the charity. They endowed the charity with various bits of land and also the two houses the Guides currently have for the use by the Guides and the Trustees were charged with managing the guides and the property. This has always been the basis of the Trust and the attraction for the Guides has always been the property rent free. They are positioned overlooking the Kent estuary and the Levens estuary and so are well located for the guides to gain access onto the sands. They are also properties likely to attract the local fishermen as Guides, and they have traditionally been the best source for the Guides, as they have the knowledge of the Sands.

Reserves policy

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

FUTURE PLANS

The main plan for the future is the continuation of the guided walks in accordance with the objectives of the charity. Other plans are to ensure that the properties owned by the charity are brought up to a good standard with the monies raised from the walks helping to achieve this over time. The priority on this is to carry out a full refurbishment of the Guides House at Grange over Sands utilising the current cash reserves so to ensure this is fit for use by the Guide for the Kent Sands who currently provides his own accommodation.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

The charity is a company limited by guarantee, incorporated on 12th March 2013, and governed by memorandum and articles adopted by a special resolution dated 5th April 2023.

Recruitment and appointment of new trustees

New trustees are chosen from the existing trustee body with a view of selecting individuals with an interest in the Bay and whether they have some skill that may be of use to the charity and its activities.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The day to day running of the charity is delegated to the current Clerk and agent, Mr D Knight who reports to the trustees at regular intervals.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08440819 (England and Wales)

Registered Charity number

1203221

Registered office

Holker School

Cark-in-Cartmel

Grange-over-Sands

Cumbria

LA11 7PQ

Trustees

Lord R H B Cavendish (resigned 25.3.25)

Mrs L Mclaren

Mr R E F Stokes

Mr P Hornby (appointed 21.5.25)

Independent Examiner

Mr J F Hornby FCA

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

Bankers

Barclays Bank plc

Leicestershire

LE87 2BB

Solicitors

Livingstons Solicitors

9 Benson Street

Ulverston

Cumbria

LA12 7AU

Approved by order of the board of trustees on 19 December 2025 and signed on its behalf by:

Mrs L Mclaren - Trustee

Independent examiner's report to the trustees of Guides over the Kent and Levens Sands Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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 Institute of Chartered Accountants in England and 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:

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.

Mr J F Hornby FCA

The Institute of Chartered Accountants in England and Wales

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

19 December 2025

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

239,095

Charitable activities

Charitable activities

59,777

-

Investment income

2

316,220

1,455

Other income

98

27

Total

376,095

240,577

EXPENDITURE ON

Charitable activities

Charitable activities

49,519

13,291

Net gains/(losses) on investments

(5,225

)

1,542,039

NET INCOME

321,351

1,769,325

RECONCILIATION OF FUNDS

Total funds brought forward

1,769,325

-

TOTAL FUNDS CARRIED FORWARD

2,090,676

1,769,325

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

Investments

7

202,424

207,649

Investment property

8

1,690,986

1,510,000

1,893,410

1,717,649

CURRENT ASSETS

Debtors

9

8,076

1,080

Cash at bank

232,812

91,015

240,888

92,095

CREDITORS

Amounts falling due within one year

10

(43,622

)

(40,419

)

NET CURRENT ASSETS

197,266

51,676

TOTAL ASSETS LESS CURRENT LIABILITIES

2,090,676

1,769,325

NET ASSETS

2,090,676

1,769,325

FUNDS

11

Unrestricted funds

2,090,676

1,769,325

TOTAL FUNDS

2,090,676

1,769,325

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 19 December 2025 and were signed on its behalf by:

Mrs L Mclaren - Trustee

1.	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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

2.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Rents received

525

-

Other fixed asset invest - FII

5,296

1,208

Deposit account interest

3,459

247

Exceptional items

306,940

-

316,220

1,455

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

4.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Employee

1

1

No employees received emoluments in excess of £60,000.

5.	EXCEPTIONAL ITEMS

On 9th July 2024 a small parcel of land at Guides Farm was sold for £315,000. Selling costs of £8,060 were incurred. There was no base cost since Mr D Knight has deemed that the remaining land has not lost any value following this part disposal.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

239,095

Investment income

1,455

Other income

27

Total

240,577

EXPENDITURE ON

Charitable activities

Charitable activities

13,291

Net gains on investments

1,542,039

NET INCOME

1,769,325

TOTAL FUNDS CARRIED FORWARD

1,769,325

7.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 April 2024

207,649

Impairments

(5,225

)

At 31 March 2025

202,424

NET BOOK VALUE

At 31 March 2025

202,424

At 31 March 2024

207,649

There were no investment assets outside the UK.

The investments include the following:

6,842.52 units in COIF Charities Investment Fund Income Units

39,044.232 units in Newton Growth & Income Fund for Charities

8.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 April 2024

1,510,000

Additions

180,986

At 31 March 2025

1,690,986

NET BOOK VALUE

At 31 March 2025

1,690,986

At 31 March 2024

1,510,000

Investment property comprises the following:

Levens House, Canal Foot, Ulverston. LA12 9EL

Guides Farm, Carter Road, Grange over Sands. LA11 7AB*

8.45 acres of land at Allithwaite Road, Grange over Sands LA11 7ET

The fair value of the investment property has been arrived at on the basis of a valuation carried out at February 2024 by Davis & Bowring Chartered Surveyors, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The additions to investment property comprise of the cost of capital improvements carried out on the properties following the February 2024 valuation.

*A small parcel of land at Guides Farm was sold for £315,000 on 9th July 2024.

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

5,920

315

Prepayments and accrued income

2,156

765

8,076

1,080

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Payments on account

36,588

38,081

Accruals and deferred income

7,034

2,338

43,622

40,419

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

1,769,325

321,351

2,090,676

TOTAL FUNDS

1,769,325

321,351

2,090,676

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

376,095

(49,519

)

(5,225

)

321,351

TOTAL FUNDS

376,095

(49,519

)

(5,225

)

321,351

Comparatives for movement in funds

Net

movement

At

in funds

31.3.24

£

£

Unrestricted funds

General fund

1,769,325

1,769,325

TOTAL FUNDS

1,769,325

1,769,325

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

240,577

(13,291

)

1,542,039

1,769,325

TOTAL FUNDS

240,577

(13,291

)

1,542,039

1,769,325

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.23

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

-

2,090,676

2,090,676

TOTAL FUNDS

-

2,090,676

2,090,676

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

616,672

(62,810

)

1,536,814

2,090,676

TOTAL FUNDS

616,672

(62,810

)

1,536,814

2,090,676

12.	RELATED PARTY DISCLOSURES

Mr P Hornby, a trustee of the charity, is the managing director at J F Hornby & Co who are the charity's independent examiners. The Independent Examination work is carried out by staff not involved in the running of the charity.