The Bedfont Lakes Trust Panel approved the audited statement of accounts for 2023/24 and the proposed budget for 2025/26. They also noted the Auditor's Report to the Trustees and received an update on the future of the site from council officers.

The Trust's Accounts and Budget

Members discussed the Trust's finances in detail. The Panel heard that the Trust's income for 2023/24 had fallen compared to the previous year. This was because there had been some windfall payments in 2022/23 that had not been repeated. However, the value of the Trust's investments had increased by around £300,000.

The fund managers, Cazenove, had explained that the income had not risen in line with total value because they endeavoured to smooth out income over the long term and 2023/24 had shown great monthly volatility.

- Vicky Couchman, Strategic Finance manager – Investment Property, Companies, Charities & Tax, Printed minutes Wednesday 20-Nov-2024 17.00 Bedfont Lakes Trust Panel

The proposed budget for 2025/26 showed a shortfall of £27,418. However, the Panel heard that the Trust had a large enough cash balance in the bank to cover this in the short term and income was expected to increase in the long term.

The Panel's auditors, Clemence Hoare Cummings, were satisfied that the Trust received good value for money from Lampton 360, the council subsidiary company that manages the park. They gave an unqualified recommendation of the accounts to the Trustees.

The Future of Bedfont Lakes Country Park

Gaye Galvin, the council's Head of Parks, Development and Green Infrastructure, updated the Panel on the future of Bedfont Lakes Country Park.

Ms Galvin advised that the site was in need of improvement and that a landscape consultant and an architect had been appointed to consider how to improve the park. They were looking into its history, what local residents wanted from the park and what commercial opportunities it offered.

Ms Galvin stated that:

The ‘wildness’ of the site was essential and ecologically that was vital to retain but that did not preclude possible ways to raise funding from the site, educational opportunities being just one example.

- Gaye Galvin, Head of Parks, Development and Green Infrastructure, Printed minutes Wednesday 20-Nov-2024 17.00 Bedfont Lakes Trust Panel

Councillor Siddhu raised concerns about the overgrown state of some of the paths at the park. Ms Galvin advised that staff tried to maintain the paths and remove and replace broken items wherever possible.