The positive growth of Walton Firs in providing experiences of outdoor activities for young people and of course enhancing their opportunity to develop their team building and leadership skills is forever of increasing importance and value.

With the changing world in the last 12 months, the economic difficulties in voluntary organisations and educational support have been clearly experienced, but the enthusiasm and support for the resources available to young people at Walton Firs continue to be enjoying an expanding demand, particularly from the educational establishments where the role of an interesting activity centre is increasingly realised as being important to the learning and relationship skills.

Our difficulty at Walton Firs remains funding and raising monies to provide the expansion in the establishment of the facilities which we provide, although much has happened with the additional land we have recently taken on. With this extra land, more is possible and more will be organised during the forthcoming year. The one big plan that we have is the replacement of the residential building with a new facility to be called the Wilman Lodge in memory of Peter Wilman.

An enhanced residential facility will provide greater access and opportunity for educational establishments alongside voluntary organisations to enjoy the facilities provided through Walton Firs, as it is an extra facility beyond the camping areas which historically have provided most of our overnight accommodation.

We hope that the reconstruction of this indoor accommodation area will take place this winter, with the demolition of the existing building in October. Our source of funding to cover this commitment remains at £1,000,000 and hopefully much of this will be made available from donations and charitable support over this next year.

Our onsite team, along with our voluntary instructors, has been enormously valuable as a contribution to the growth in positive reputation for the activities available through Walton Firs, and we expect to expand these with the further enhancement of the remaining parts of the land recently acquired which are slowly now being incorporated into our activity areas.

With hindsight this last year has been another very good year for Walton Firs in the further growth and opportunities provided for the development of young people’s experiences. We can only thank our great team for ensuring that everything has progressed well. Our directors and patrons continue to give us the strength and input we need to deal with all of the differing requests and opportunities and to help bring everything together.

We hope this coming year will therefore be another fantastic year for Walton Firs and that we can celebrate at our AGM in 2027 the completion of the new Wilman Lodge.

The trustees present their annual report and financial statements for the year ended 31 January 2026.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the charity's 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).

The objective of the Foundation is to hold, improve and maintain the Walton Firs Activity Centre in Cobham, Surrey, for the use and enjoyment of continuing generations of young people. The operating intention of the Activity Centre is to provide outdoor, educational and training opportunities to all groups of young people.

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

The Activity Centre provides recreational outdoor activities and facilities primarily for its traditional users within the voluntary youth sector, as well as for the educational sector during weekdays. During the year, the Centre continued to support two pre-school outdoor Forest Schools, maintaining its long-standing commitment to early years outdoor education.

The Centre aims to deliver a low-cost service for users while also generating a surplus that can be reinvested into the maintenance and improvement of the site, as well as funding future development projects.

The year ended 31 January 2026, whilst successful, as in the prior year produced a lower than anticipated result and the pattern of visitor use of the Activity Centre continued to show a marked seasonality with peak activity occurring between May and September. Annual visitor attendances at 31,636 were marginally lower than the prior year figure of 32,056.

Income from the Foundation’s charitable activities in the 2025/26 financial year reached £684,834 compared to £688,683 in 2024/25.

Employee costs remained the largest category of expenditure for the Activity Centre, increasing by 13% from £383,745 to £432,506. This rise reflected the recruitment of additional staff and the increased use of seasonal employees to meet periods of high demand.

Operating expenses, however, were materially lower than the previous year, decreasing by £46,195 to £221,946. In 2024/25, expenditure included £20,000 relating to works on the entrance roadway, together with a further £21,000 recognised in respect of donated services. Accordingly, the current year’s figure represents a more typical level of expenditure.

During 2025/26 approximately £44,000 was spent on replacing or improving fixed assets and equipment.

Governance costs were lower at £34,024 (£47,408 for 2024/25) of which £31,762 or 93% were met by professional services donated by our supporters. During the year donations received totalled £28,911 compared with £58,448 for 2024/25.

Overall the Activity Centre recorded total expenditure on charitable activities of £721,022 in 2025/26 (prior year £712,806) resulting in an increased deficit of £36,188 compared with £24,123 in the previous year.

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 between three and 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.

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

The trustees of Walton Firs Foundation remain committed to maintaining and further developing the range of recreational outdoor activities and educational opportunities at the Centre, while continuing to promote environmental awareness among young visitors. A recent example of this commitment is the lease of additional land from Burhill Estates, part of which was brought into productive use during the year.

A further example is the proposed replacement of the Pembroke Building with the construction of new residential accommodation in the form of the Wilman Lodge, which will provide high-quality indoor accommodation for groups of up to 36 young people and their leaders..

Fundraising efforts to finance the Wilman Lodge are well advanced, although not yet complete, and have remained a key focus for both trustees and patrons throughout the year. The trustees acknowledge with gratitude the generous financial assistance received from donors, which has been instrumental in bringing the Wilman Lodge project to its current stage. Further fundraising opportunities continue to be actively pursued.

The structure of Walton Firs Foundation is a company limited by guarantee, incorporated on 2 February 2006 and established to hold, improve and maintain the Walton Firs Activity Centre in Cobham.

The governing document of the Foundation is the Articles of Association adopted on 8 June 2019.

The governance is by the board of directors who are also the trustees of the Foundation.

No policy for the induction and training of new trustees has been adopted.

In order to review the actions of the directors and trustees, a body of experienced and enthusiastic individuals, known as the member patrons, has been appointed. The member patrons have the right to question the directors on their actions and, if considered necessary, replace the directors.

Walton Firs is a company limited by guarantee. The member patrons are also the shareholders who have guaranteed that they will pay £10 each in the event of the guarantee being called.

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:

Reserves are needed to bridge the gap between spending and receiving of income, particularly as income is seasonal, and to cover unplanned emergency repairs and other expenditure.

The Activity Centre is open to groups of all young people without restriction.

Fees are charged for activities in order to cover the immediate running costs of the Activity Centre, although every effort is made to ensure that charges do not unduly restrict participation.

One of the key aims of the Foundation that demonstrates its public benefit is that, through the Activity Centre, young people are provided with outdoor, educational and training facilities that help them develop their full potential.

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

I report to the trustees on my examination of the financial statements of Walton Firs Foundation (the charity) for the year ended 31 January 2026.

As the trustees of the charity (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 charity 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 charity’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.

Since the charity’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 ACCA, 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:

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

the financial statements do not accord with those records; or

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

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.

Chartered Accountants

The notes on pages 11 to 22 form part of these financial statements.

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 January 2026.

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 members have 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 notes on pages 11 to 22 form part of these financial statements.

Walton Firs Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The directors are of the view that continuing measures to monitor operating costs and ongoing cash flow requirements have secured the future of the Foundation for the foreseeable future and that on this basis the charity is a going concern.

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.

Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:

• the donor specifies that the grant or donation must only be used in future accounting periods; or

• the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Gift Aid recoverable is included within the same category of income to which the Gift Aid claim relates in the same period in which that income is recognised.

Volunteers and donated services, goods and facilities

The value of services provided by volunteers is not incorporated into these financial statements.

Where services or goods are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. Donated services include audit, legal and professional fees. Donated goods includes building materials and office equipment.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Other income

Income from telecommunications masts is accounted for on a receivable basis. Rent free periods and premiums are spread equally over the life of the lease.

Income from commercial trading activities is recognised as earned when the related goods and services are provided.

Investment income is recognised on a receivable basis.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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:

Freehold land is not depreciated.

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.

At each reporting end date, the charity 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.

Stock is included at the lower of cost or net realisable value. Stock includes souvenir items available for sale.

Cash and cash equivalents include cash in hand and deposits held at call with banks.

The charity 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 classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

Operating leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

In the application of the charity’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.

Donated services

Activity centre operating costs include donated services of £10,211 (2025: £21,111).

IT and communications

Professional fees

Governance costs include donated services of £31,762 (2025: £43,672).

The average monthly number of employees during the year was:

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

The carrying value of land included in land and buildings comprises:

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

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

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 the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

There were no disclosable related party transactions during the year (2025 - none).

The charity had no material debt during the year.