The Bedfont Lakes Trust Panel met on Wednesday, 20 November 2024, to approve the 2023/2024 accounts and the 2025/2026 budget for Bedfont Lakes. The panel also received an update on the current condition and future plans for Bedfont Lakes Country Park.

Bedfont Lakes 2023/2024 Accounts and 2025/2026 Budget

The Bedfont Lakes Trust Panel approved the outturn and audited statement of accounts for 2023/2024 and the proposed budget for 2025/2026. The accounts for 2023/2024 showed a shortfall of £5,325, with income falling compared to the previous year and expenditure slightly increasing. However, the Trust's investment fund saw an increase of approximately £300,000 due to rising investment values. The fund managers, Cazenove, explained that the income had not risen in line with the total value because they aim to smooth out income over the long term, and 2023/2024 experienced significant monthly volatility.

Vicky Couchman, Strategic Finance Manager for Investment Property, Companies, Charities & Tax, presented the report, explaining that the Trust's income is derived from interest and dividends. She noted that windfall payments in the previous year had contributed to a higher income then, making this year's income appear lower in comparison. Ms Couchman assured the panel that despite the fall in income, the capital and value of the investment had risen. The fund is invested in shares, equities, bonds, and cash, and is actively managed. The London Borough of Hounslow (LBH) management costs, which contribute to the cost of managing the land, are in line with projected inflation and are paid to the park managers, Lampton 360.

The proposed budget for 2025/2026 indicated a shortfall of £27,418 based on current figures. However, Ms Couchman stated that there is a substantial capital balance available to absorb this shortfall in the short term, and income is expected to increase in the long term. Management of the site includes educational and ecological work, as well as everyday maintenance. The café, described as basic, is also run by Lampton 360.

David Belbin, a partner at Clemence Hoar Cummings, the auditors, confirmed that the Trust received good value for money from Lampton Greenspace, a council subsidiary company. He noted that the audit team had worked diligently and that market figures are constantly changing, with the end-of-year figures representing a snapshot. Mr. Belbin provided an unqualified recommendation of the accounts to the Trustees.

The panel voted unanimously in favour of approving the accounts and the budget.

Auditor's Report to the Trustees

David Belbin, partner at Clemence Hoar Cummings, presented the auditor's report. The panel noted the report.

Update on Bedfont Lakes Country Park

Gaye Galvin, Head of Parks, Development and Green Infrastructure, provided an update on Bedfont Lakes. She described the park as tired and in need of improvement, despite recent upgrades to other parks and open spaces across the borough. Community Infrastructure Levy funding had previously been used to address health and safety issues, such as replacing or removing bridges and decking. New bird hides and children's play equipment have been installed. Landscape consultants and an architect are currently reviewing the site's history, with the next stage of renewal described as visionary.

Consultation with residents and the council, including the Panel, has begun and is expected to take approximately six months. Ms. Galvin mentioned that potential funding sources include the National Lottery and other grants. She highlighted that the site's facilities are nearing the end of their lifespan and require major upgrades. Currently, access is primarily by car, and alternatives such as safe cycle routes are being explored. The aim is for the site to be economically sustainable, with potential commercial opportunities being examined, while retaining its ecological value and wildness. Educational opportunities are also being considered as a way to raise funds.

Councillor Raghwinder Siddhu raised concerns about the walk-through areas being overgrown and in need of investment, noting that Lampton 360 only cleared paths once a year, often leaving them as single file. He also pointed out broken benches. Ms. Galvin acknowledged these issues and stated that staff aim to remove and replace broken items. She clarified that the pits on the other side of the road are not part of the Trust site and are not managed by the council, although discussions with the landowners are ongoing.

Regarding security, Ms. Galvin explained that Lampton 360 patrols the area with Rangers to ensure visitors adhere to signage. She mentioned a tragic accident on the lakes two years prior and ongoing issues with people swimming in the lakes, as well as bonfires. The council is also collaborating with Spelthorne Council, the neighbouring authority, to explore funding opportunities, recognising that the lakes serve a wider area and are an important habitat for wetland birds and other flora and fauna.