REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
for |
| Friends of the Cotswolds |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
for |
| Friends of the Cotswolds |
Friends of the Cotswolds |
Contents of the Financial Statements |
for the Year Ended 31 March 2025 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 10 |
Friends of the Cotswolds (Registered number: 03650374) |
Report of the Trustees |
for the Year Ended 31 March 2025 |
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 purposes of the charity as set out in its governing documents include the following: |
| 1) Promoting, enhancing, improving and protecting the physical and natural environment of the Cotswolds Area of Outstanding Natural Beauty (AONB) and adjoining and adjacent areas; |
| 2) Advancing the education of the public in relation to the AONB; |
| 3) Providing within the AONB facilities in the interest of social welfare for recreation, sport and leisure time occupation; |
| 4) Preserving buildings and/or sites within the area of historic or architectural merit; and |
| 5) Undertaking such other charitable activities consistent with the above objectives. |
Significant activities |
| The main activities undertaken during the year to meet the purposes of the charity were: |
| 1) Ownership, renovation and ongoing fundraising for the charity's freehold Grade II* listed Georgian House of Correction at Northleach, Gloucestershire ("the Old Prison"); |
| 2) Continued delivery of the National Lottery Heritage Fund (NLHF) project to conserve and enhance the Old Prison and its nationally significant collection of agricultural artefacts; |
| 3) Promoting and interpreting the Old Prison and its collection through exhibitions, educational programmes and community engagement activities; and |
| 4) Establishment of the Cotswold Heritage and Environment Fund, a small grant-giving scheme supporting projects that align with the charity's objects and benefit the Cotswolds AONB and its communities. This scheme is overseen by a committee made up of trustees and represents an important new area of charitable activity. |
Public benefit |
| The charity trustees remain mindful of the Charity Commission's guidance on public benefit and confirm that they have complied with the duty under Section 17 of the Charities Act 2011. The Old Prison, its café and the collection have remained open to the public throughout the year. |
| . |
ACHIEVEMENTS AND PERFORMANCE |
Charitable activities |
| During the year ended 31 March 2025, the charity continued to make strong progress on its National Lottery Heritage Fund project, which concluded early in the following financial year. Key achievements during this period included: |
| 1. Creation of a Community Garden at the Old Prison, developed and maintained by a dedicated group of local volunteers, providing a new space for engagement, wellbeing and community activity; |
| 2. Completion of an oral history project in partnership with Gloucestershire Archives, recording memories of the Old Prison and rural life in the Cotswolds, helping to preserve important local heritage for future generations; |
| 3. Development of a school trip pilot programme, supporting the charity's educational objectives and strengthening connections with local schools; |
| 4. Hosting of exhibitions and events, showcasing local heritage, crafts and community stories; |
| 5. Partnership working with local trusts, community groups and organisations, helping to extend the reach and impact of the project; |
| 6. Expansion of the fundraising and events programme, including the development of a partnership to deliver entertainment and events on site, contributing both to income generation and increased visitor engagement. |
| Outside of the NLHF project, the charity successfully secured a new tenant for the upstairs rooms from October 2025, which will provide additional and ongoing income to support the charity's work. |
| In this financial year, the charity also formally became a grant-giving organisation through the launch of the Cotswold Heritage and Environment Fund. This initiative enables the charity to support small-scale projects that promote and protect the heritage and natural environment of the Cotswolds. The first grants were awarded during the year, and the scheme continues to be managed by a committee of trustees. |
| The trustees are encouraged by the growing profile of the Old Prison and the strength of local support for its activities. The combination of heritage conservation, education, grant giving, and community engagement continues to advance the charity's objectives and lay the foundations for long-term sustainability. |
Friends of the Cotswolds (Registered number: 03650374) |
Report of the Trustees |
for the Year Ended 31 March 2025 |
FINANCIAL REVIEW |
Going concern |
The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved, for the following reasons: |
The charity holds sufficient reserves; |
The café tenancy continues to provide both a base and turnover rent; and |
The charity has secured an additional tenant for the upstairs rooms from October 2025, providing a further source of sustainable income. |
The trustees therefore consider it appropriate to adopt the going concern basis in preparing the financial statements |
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. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
H A Acland Director |
Company Secretary |
Independent Examiner |
Monahans |
Oakley House |
Tetbury Road |
Cirencester |
Glos |
GL7 1US |
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 |
Friends of the Cotswolds |
Independent examiner's report to the trustees of Friends of the Cotswolds ('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 |
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. |
Helen Jones ACA |
Monahans |
Oakley House |
Tetbury Road |
Cirencester |
Glos |
GL7 1US |
21 December 2025 |
Friends of the Cotswolds |
Statement of Financial Activities |
for the Year Ended 31 March 2025 |
2025 | 2024 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) | ( | ) |
Transfers between funds | 12 | (7,924 | ) | 7,924 | - | - |
Net movement in funds | ( | ) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 906,154 |
Friends of the Cotswolds (Registered number: 03650374) |
Balance Sheet |
31 March 2025 |
2025 | 2024 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Heritage assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( | ) | ( | ) | ( | ) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 774,225 |
Restricted funds | 131,929 |
TOTAL FUNDS | 906,154 |
| 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. |
Thesefinancial statements have been prepared in accordance with and delivered in accordance with the special provisions relating to the small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Friends of the Cotswolds |
Notes to the Financial Statements |
for the Year Ended 31 March 2025 |
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. |
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. |
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. |
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. |
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. |
2. | OTHER TRADING ACTIVITIES |
2025 | 2024 |
£ | £ |
Cafe income | 32,570 | 39,461 |
Courses | - | 234 |
3. | INVESTMENT INCOME |
2025 | 2024 |
£ | £ |
Rents received |
Interest receivable - trading | 16,624 | 5,079 |
Dilapidation income | - | 47,500 |
Friends of the Cotswolds |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
4. | RAISING FUNDS |
Investment management costs |
2025 | 2024 |
£ | £ |
Administrative expenses | 9,003 | - |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
In the year, £35,520 has been paid to L Chandler-Mullins (2024: £35,520). |
Trustees' expenses |
In the year, £84 has been paid to L Chandler-Mullins (2024: £45). |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME |
Transfers between funds | 420,000 | (420,000 | ) | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 264,436 | 542,518 |
TOTAL FUNDS CARRIED FORWARD | 774,225 | 131,929 | 906,154 |
Friends of the Cotswolds |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
7. | HERITAGE ASSETS |
Total |
£ |
MARKET VALUE |
At 1 April 2024 and 31 March 2025 | 649,726 |
PROVISIONS |
At 1 April 2024 | 118,054 |
Charge for year | 15,993 |
At 31 March 2025 | 134,047 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Accrued income | - | 1,928 |
VAT |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Trade creditors |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans (see note 11) |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2025 | 2024 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Friends of the Cotswolds |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
12. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.24 | in funds | funds | 31.3.25 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 774,225 | (14,361 | ) | (7,924 | ) | 751,940 |
Restricted funds |
Restricted | 131,929 | (47,954 | ) | 7,924 | 91,899 |
TOTAL FUNDS | (62,315 | ) | 843,839 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 104,566 | (118,927 | ) | (14,361 | ) |
Restricted funds |
Restricted | 68,097 | (116,051 | ) | (47,954 | ) |
TOTAL FUNDS | ( | ) | (62,315 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 264,436 | 89,789 | 420,000 | 774,225 |
Restricted funds |
Restricted | 542,518 | 9,411 | (420,000 | ) | 131,929 |
TOTAL FUNDS | 806,954 | 99,200 | - | 906,154 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 157,485 | (67,696 | ) | 89,789 |
Restricted funds |
Restricted | 100,383 | (90,972 | ) | 9,411 |
TOTAL FUNDS | 257,868 | (158,668 | ) | 99,200 |
Friends of the Cotswolds |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.25 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 264,436 | 75,428 | 412,076 | 751,940 |
Restricted funds |
Restricted | 542,518 | (38,543 | ) | (412,076 | ) | 91,899 |
TOTAL FUNDS | 806,954 | 36,885 | - | 843,839 |
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 | 262,051 | (186,623 | ) | 75,428 |
Restricted funds |
Restricted | 168,480 | (207,023 | ) | (38,543 | ) |
TOTAL FUNDS | 430,531 | (393,646 | ) | 36,885 |
13. | RELATED PARTY DISCLOSURES |