----- Start of picture text -----
N = Wa ba mi
¢ ’ mys , % ; ts
. a w9te iea? = ve
ell oe. 9. ae
es (ie
a ee
Ty Sa Oe.
Od oF [Wee] FONi Gri% AG % Seemansca s <o3 | ‘ q1 - :
< Cit Pee Lad
= w” 2] 7" —@ 4 7 ™ im : i, OD = 9
a OMe pd
Ow a 5
232 = Th Olesya
, Wet a
, ( i ©
----- End of picture text -----*
The Wildlife Trust BCN Annual Report 2023 - 2024
CONTENTS
| Impact Report | 2 |
|---|---|
| Finance Review | 16 |
| Structure, Governance andManagement | 19 |
| CharityInformation | 22 |
| StatutoryInformation | 23 |
| Our Thanks | 25 |
| Independent Auditors’ Report | 26 |
| Consolidated Statement ofFinancial Activities | 30 |
| Consolidated Balance Sheet | 31 |
| CharityBalance Sheet | 33 |
| Consolidated Cash Flow | 35 |
| Summary ofFixed Assets | 36 |
| NotestotheFinancialStatements | 37 |
1
----- Start of picture text -----
— SolSieh!),
fiz * \ irr>2zO Ezec=zo
=“ ne PESekeL as gies SSE tay Bes Ss=°e
‘e BS we = SS esas£2) pede ony iho BON $32
LePasaetieyoeWek; BSS3 ' :ts i ? eSGeersoSo5epd=PAOid) ie)<==eGooneSOSOo>&ashEONSSPQ)rejS20BeswRoe25 SONOpswisercene OROseE(S}6sot -ccoy00OE©)Lia EHea1h)=)e LagocrcaswaeFat6ee©ScOe2Dof}Oo)nS> i)3beyeS2 eel‘=20SSeSSHeeerepipentce:=O5 esehw>@ +ie}2ole), wit:: =Oy.SAGscia,nee:thyj0eyi l. 1 |—¥wp1ee.)554, } £509239ce22aFaseeeeCOPeleeSmeefeeFOEoi>dag YSsaeolewags5<85bseOF6538iesS/S ie20NeE
wre Be CogGoel S258eS Ex a5 cometsSS Peer sas ahiaN; » 5Be) reeaa 2ovLc 9oYs
st pays fy Sora opens oe D) So RORe ibs >
A z£oMm
hiti ath- ;eal \ : pouBoscOifoodeee2 c=oo OGea]Nel HO Pei)Yo eeaToc2 (QS50)Hao FEA8TOTS}“a Ooi Ohaa>WySmec = ‘ eelasfetwvChee ee any" 7 >eyPo}/ , 3D
or ain ue TA So 9 oO a = siOe ai\
Ai; ; gu1B)Sy UYTee) potadogyS A eSeee ssetSe To OEmitraprestro} fa) Te—ss ez0)S120ayy5.2 ByetStoss taay ye : , ,
% he ie : ot ONS vec ~ =m OH GY 2 S aes ee Nis i \ ; 2 >
pth Ae' EPox= es D590SSeEus6. 62SoS osORS Roar (as iatieesaiSS Be
aah a
SS ois Ones Beco gf Oo Yio Ol eS
ray :
rest ow 219 2-5 5 OF Clan no 5 5 Se —
He we =
i iohiee . Se egodg [ES] olsaes ne iciS213 alerosPid ooErne Bsis ee= Ce pienae a er OeBS taytesMakerFevercenSses lige_ ae 7 s\
2Sey0 O18OQ [Ss] OoSo) PesSeerRof 0)So SBree60ozo0 OeSePa OLOnss=aoe one) |G=y~ arsineSRE ttt v= =\
ecg : 3\
in ‘ D8 BUR Yor sakaa proce eeeah) ys(1) ae\
: wy Dy GS =) Onan ved " eerie ae\
hoes TOs 1 £ og\
SS Oey ~ Bo = EO ees eat Bee\
ASOphe aio . / Oo > o Son gia © = iN ro} oe esting Bsr Oey entO 0 5 [o]
4 si SS a OOS eS Stave 2S cea reeO- Ov eSihna) i [S|][ AS)] aaa c
Rerae A= 20 = Ot 2B SHER) 2 a Onaas Bi ic ee o) Sa
me a 0 ONG ocr 4 Qe S o-S 0 Cette
asTS n 2 OY na YS OB OSS Wojet oA A Gunmeuiiere. a wy
oe A ae mse nte goe oo e Se BS i=: eens| Sa Heesay 22S =)erere
ba a} fey ee Wy ah ee te Gite UE Otaene ore Seon O° Se
he|hu,iHt= ay, )Hic : onceoyOnne2SereneSySypeesoreOo3 -esoGea gcOtaOoTey aay OM=oOOnepng®owmis 2eeoO433apao>atioeed)<=aeOdSe>= OsEosIeheQ)=0 ‘SSUROSseoYo ousSpeccDog.neooo=e 2@)Oo o-+6ReFe0SO) Som oonOe Gee 5aGe2Roeperl Sai,en ORGTey7) 9MoO) ieebe armSSSoNOb.NeBELTKonKo)7SeSs0 = cemoanare e n)eyarpRiesSees=eraitlewer9ies 4ao~ ©:nee3ue2googao“VerSY0eS3}5 o-oO= =wv©8
, i SS Fry es ON eo et aoa = Shae 52S o GORs pao 28 ac = =
=eos nmSos= DeeSy S202POD Sar eens5 10}ae 5
apes .: S Usee:eong [Com][ CaORSeS] 2 Se [NY] @ as 29 $ 2 Seuc tn Seqyete oo000
tthe: oD o o Se
' ‘ 2 E ova DH Seera SOLOeOie Xoo)ven PSEtSt Koyx5}S 52) @0 SEBOeee BeranReeZan LoPees© Seas — CS SF
Fas : vtHR2032.£32 ©0D) 2 2ass OSQ s ©ce ire g lo} = x =yohanl zt hares i = xg
is > 2c
i | On ee sais cope OOS os 592 > omit PRON da CO DIONE 3 a
Riche
eh Sb yeeMet eas > oO
)| +—J : TayOOw aya(byob)8 WagesOc= PeweSBam e Nests Owoot (oyOSsOn OeAud To)£2oses ox; Booo toe Satepees. 1Be> eoieee = Eecaoe Ole e EOhia qyets eyio [7] ‘= [esaeae c=Fata}
eteel = 2>to) ;122 fo) KOTLow) OaSa oSs 0o> a S iien S esoute eeonan) BSAa gh BO! o£ oO
AL Rea ; Geaconoi@. wiges me POE OSE a) es
lees = cL 35s Ss. Oe Sos= ae One
Pao ea $uHe2oe & pee ==o 22S 0 Sean
aiactnn a ooAe ie SH1a)ost oeors= ) OC) OME: Sri = S
LieslFY
esdNOD)f Bisethele)esre taeOlase teSoe else-KES £2$2 SonoBcMy myeeS ReemsoDee.oes OSS Tipe26 es:a Seep erSe Mer e 42552gerOyoesB e as)Dueeee2)oO)tae 0~ teeae
evi OS [ec]
Hs eri eee
es a
Sees Selim o iS = Sy ui
pispgs)ay y tSa = 5S £a a GigOo ei o ae — coc 7); Oo ov
eth P
aeBraity = sy eS eG) s a y mae aS ox vn g
eaefes 4 pocorn‘ is FEehiesheiat‘cLPa spplets peohaycs CnmayOviia amintwaot& eo yay eo eseSo 17)ENR°ORY, 3ox 2eseo5cae SeYoOnscoe ewsESeee2) x6OOS,ele~ Y0 Ss ol£4—2® Yayhenmty Sy@
ay ta as =e 8 4 5
BLL SH Stroh ret one (eo) Paes Cie aa 9 2a > SSeeEero 8
on pe ie
Ww SSege gt eN es SisOES) easregen Wo 0) eee= = =aeees=) 9v gatOmfe)
TP eeBete 5lecoe la 2s ES5 9 oSfo =o oS )SaaCee 2 wee2 Dog —£ 2 22
3 sy D BST}oP = Cc 4ar = eu @ tS 0) Koj q Sj oo D =
; SeeZo esOleoRSeSe Yao oE BLpeEeogeSstOls De 2 2 oeESas2 Beno= 5 2 ae | 9% o- o
Gas Oo O a 1 ore Bh ah ees SS Pe ye ee Soe vs S oc
RSLS a) ER SE& os =Rats SS uHeSE oe ses| Cc oDSG
SnowsRSs e255 8aS5flea ge Aes2ySof52ozeeene 2 os =me Ganaose ON3s
=rovesro) sas)Aa= SG(0) Oo =0)oc} 0G ee70 2955~ £ SeSa.o << e rs ceoOoRESaSer)“YOO =Ce)ines ~oOOF=©
" a, Fra (te° xo)Se===pSie= => 2=2 35POD‘a lo}OsaS: BeyeeeaTees 26a Go2 =S o>— .—i}o
ities } oupee es
: — one Goo So ow ye Bie Clo Pia s- 3 Ere
4 Cy‘ | i
VouSiic [0] 5 2 cuCi
at @ Ved O95 O4 SS 0 £2 oes oe eae SS ir
, . éth Ss —vs. “A\oeLY. leoe [oo] GeeoOD2 asOrSo Rae ey [oa] usenet Olasi) ra [>] Os [9] EO)Vee [zusee] =ODO [ Ole] Peo ioweagco® [&] toes 0) 8%
; ws . ; =)Orfe [ x] =eSo OSOOo [ie] [Fane] [mow] oe [LD] ONO)ew.GS 2) te= | a~
sone Oo + — 1 DO ieloors Ow sO: <2) 1 Vas oO Ocn
‘ “2 : = . so 5
e - ug.£2 [e] gO [ois] o 8s OR 58%Sa Sg-eoGoesDOD [Se][ae] ho [Sas] oe [ O8o] ss ~onas52
ree > ro Or
! .
gfZOE REE :
----- End of picture text -----*
----- Start of picture text -----
ita
fi o iy5 o 2 By £Rore
tJ 2 BO
= 25oq Oo _od OLisc e apaS P i | ) 5E52 ss «6S
~ Oe 4 9 co 8 ) = >eo+ Px]&
Ro2ya, £5#8»® >a rom?£ag2 =DB525(=Sees0 &Oo9g (e)zo%5=euoCU.a=$22 2— c2etcn = e °ga38 ;3s@bbe‘ oa.iagf=52 ifMscowo K y, ; pact)4xyeeS=) Ss HeDy3sg58ra> bb+8ESa8
° 5 [2] cSee =&meea {SO)5 Ozsso=ex 25© odo :¢ fhByi2 beB
aSotee2%‘meov@vo>; je)a20 5=£0oo 26 =ce=053one©9 m=ifrf) cS50 y y 4:i SeayfeeMa ARE,hie2088hey $8aecEre) zsi]
: = Ey
tt Cc o c 8 ( a oon 2a3=
jem | iceso OmBALE9 0 = ' i
° c § Ope eas no S36= La b “
AL.
wm 6 acoes ce Yooh i ‘ay a
om nu 8 o2c% 9 So eos[s) BS Ce3 ar val
~ Cc aig cae Si fe . > Ug
anvoy 223Phege8B AOBie g Z2ZarR7. ‘ es
53.0 ELCEOS [8] [54s] 0B [SO] [85] [aE] .
a 0 [£aso]
Zo seee8e aB 5 03 ESNeves ae 2
of IRCROE GO Oosse
pwFS :
» co D 2= =
coo
oF ER -=Gullcac ise
PEDTies oSB= 42
3 oO oRe 9 253 SY ES! =
roasts o Bash = (fei oFS © OoorzuQ 0
Om Yous
338
28s52aeEstosSeay ro¥1hf 28gooaoeY mS=Qo OGse=Yoorab)ny Oo& OL© aleeaoO @- O Q.O)O
ZSaells
= Boe Si orc >U0G2 vo NS 5 (ah) yn Ov Oo
9B w 9 G
Sen~2eSseee Om, Yxv ee) > te)2 (WO Gh) 2=Ss ©a <4oO
Ponce none :
Oe eos g SSR ae iS LeSe oOo=O DO Xx
Oceans nes BESat
Soegted aO%COger ra) a1 6 =SoG© S
ego eae Ss Ow oO oO 0
Vvoe noee®PEG o 2s
Ot So oY Onlone Eeeseace
ro) GLOSS S85OResKi oekacsSOESE® aU 8. leas
Ww= HLS oeHale agS28SUG OE C8 8Ls5 Sue
G Ons50D/ 2SOo =205ni =
= oie) cel Saul es
= ee ia) Fee)es QacW a Oco0t e re8
=
ro) cO
an le=
O O oo i) eg Oo
eh nes iene ze-O 2 DUS
2 ao 926= ss ke}© SiSaooz 925ouEo ieastaGite tS
© osenn oO c ewan cf
ged) ieS Ons orusg ey —MyoO 1 eek
y - 82 e552s Oo faze Webs
9 544y Gln oe aa 9ceeSoa?
S c 9o5-8 ooo
Gowxzt <520 o-o%50
> 9g ss
SBSOLD oo E eo5 oo
=) ©
oem ra- (. cytew>O5 8 ; c £eo50S29e 1 ) S onsny co o¥Ey
ro} @L om gs 65502 Yous Bg eos
2 ea 538 Oc OE
= = =
oe oo) SonGOSGL8 58E Bes gea99 5 30 O>&V2 5 5XBoda Df eeO80
Y
Y) Beata c 25 BiOuoes ieee
sau to ~ co oo 3 & F
xhead we[o)< Oov wos Oe5ofagu3250Limek aSH [un] 208% [0] aeSoc #&aSB2ERo22sewot s isofoO[)o5Sa59028he nOoa-Lae 883=nee
{e) esl es one rs) oc =
nm O Gg #osSp OgSoScae [=] 2 220 SS Spsiar sie
£as ans2sOF oe Oe o a0gons2s Powe=3f£0oog) oa56os
Saf |S 2 =e) S350 TPs eae
= Q. b=} Zoze — oo
oO i)
2 cr
O faeOo c eye
----- End of picture text -----*
----- Start of picture text -----
xe) ® o xD
ce)A Co< ==& LLo£ookOo 0|5 oste] g aeLno© cEo a 2of8eo as& xX w2.5ieVEsagesvo)=of
ic E o£Oo 5 22GB
igcaeDy o SeMg74SS=e22 woBoaaSe& S55GoggayUg8 bad9}BENoXaa aoeSteOEBES (em Eoxe) %
ra)siemmoo+a 2cos= 56 Buoymeeefed aSECeaSaosshone @Ee5e89 et 5 ea= §v=calte
3 hiss Ge. Gace Oo - ie) are ee [0]BecvasaR e
o>zs osgYaePus° ame a4 co’ras Ja oe oS ZaES3 wn
Gxo & fo & Ss Oss He SeS Be esa Seoags
eet eeureDMOz%2o
fars) @OF°= roa.smae re oo8Be @BS molaeae2 Oo Peg oe re]atBe a JsEs25265 oY0) 2 co
Ka 8 Ease2 S uesEES rol Rees= ys Sees 2 n= = 5 g
Oe1 ao £§ Qf= D9gos 22 3 =teSoO e =Osgeehs|eOo Bi Lie}Sogeeesge7) = & oe=o5acsiJ 2eke SGEESEaw Oo
gEe€ =° osre)© qoeeeos qQ o Fes£20See s rary Sr0ogramE2s seu eseis s GES s o moInBESESefsesEgooO 5 On seHees s
TSge Be Fe ; . as -~ fy
4; es) ot ahe ja eeL 7 RNon
SsTeeSTeese= pty oeSie?,koSdies y SEoonli— = aisaiaps4Sa EeOya
Wy
ra5 Aes
2 . © [O] [‘oO] 2ay 52ov 2 Es lee; apPRariy, >) [en] [SEOUL]
S BRE ss He [We]
ge Bao.
afcegeesTore er x o RAR A;: nf We - ye ooieee:ir toeantEy
gissses Ee § aedy eityg Seesae Ppa
7)@ SeonekecSe 58wo S)>54 Sie og ) , SSi slaDe yeep p30.ia YQ ooEee ise
65> uw £8 [:) weeos es Bee's
385384Cu et 8 8 a =O Bis) he oe
. DSeseg7 OO2 J Tee?ioeeg. aRh Sea weeteet; ch EihhEoPas pea aaa4
a ; aa f~hc is :
— eee2n=EoR28805 [©] o [23] £932— o 8dne [fp] o HD22pondoat oo ioie} } [ea] ov 5= oaov5Su=© —raleso@© py:~ : aevo [SE)!] esee ireoes2 BEnil zy
~ v2 o & mad SSroriowx i Spee.Re es AS hoy
s+Soy lgs [v] 8 [3] GHE > wo Base = 32 aeBY ed ffeb 7 tiae?teal)
o rT) eeleegssWu-seacocs+ 623seee [=D] Bee ess© £35=ag=pee8== eyps:=} 5D SEDisaDEF IEGge “) EN{ tanire \ (aeitAy Seoe Fs
:
E2355 2\
e Ook} =Z2ec any i wen: ee\
PePoess1G ce:> % & Geass War)
| wo
SS=f@w rtSpaeso33 we dspm ooG2; SoPalfe)oeBf es?Se& a&sy BE=£2ooboeCc, LSBDSE et geBecho836%i,® “-E
©595ns usRoIRS >e2 Pay
geagesgeieca= 58 se 2IEg SESEBor
w=)fo SeBolraoa<9sase itH:ic(esefSesne32k3BoeeseeoeBcomSo& igate [oes] ESEsoe es0 : o ¢® SLBS=5405gelBS EBoRsSzOLEBPR sgsDE653 SRg8SPeasBeeseSauESSeeCSOBs© SE5aeS8o%oc foe [5] oTce}5=5 E55goeso292ThoCtesigeie
<3) ceSe i pcseeeaa!soe2 D985oP5 9 esesgeof5 335 B®Sere oBes ee gegs89%ceGoO2%5 OB 8
| GeO= :beasSeeszeeeESaRsae) gG e o seesupse5 © aG Poszesgst [BEGS] oSeeceSs2 ones [ ss] oe [eg] pease [ oES] gcs BOgSa4"77 Oe5
S586 PE ges 2m EO o 2s q
cD = [eras] 89 o 8 SUZERS= «$=2zag 5$ 8 %45Oo g -O 4 &
3 ml %a?: ages56@ S=2ee Bopaees§826058be [geeseus] 8BS2B25e8sSesto= GERe088 gagsQugataocov Qe 8°<
8scoeo > © o f£OG828s cL OD 2
ooU i © ,=i, arae. ame©O29m24 5es9 [gu.] 250% o Ses see [ esEs] SpuSo§ Ds2 CogakesPpaese8eSiSBS45 Bs s st B2ze a,e
Te}e 7)» } (
sesho 2s <9EOS— gL225 aeig eHRot ee athsSk&sasseeery geoo5S e o=pa eemc8 ¥ st
----- Start of picture text -----
4 pd id { 4 ly eatY vif ¢o4%
. 3 \ y Biers
q So eeke St Te
gh Mt A
Wo SN SN Ud ck REO sy . . ices A ee 8
: Ns Hi j og Ses Mae 2 2
= a SRE AG.
® y BS gare i, ae E=ae ar. .
& “i RpAo vd” yes OTS ne BANA GR: yp Ohio fy) 4 amt ; <= "s wa oe x
Basso PEE ike te i nok <3 Sus ie ahaa Ee Zi— Se Se Pens= =i
Sage 3
Wise be § ~SEO ReLN peas
anoNy
5 edeaa i, sities esateSe wday 5 9 SUERBEE o
rome = > oO oO c
: SRR es ae o Se aose Crone
te A Seite Sao uaa ; eel ry 5G e974 vw
é PRES Sagar ae = uLoge 0 c MASE Co
4‘ ‘ >t 4 oo 8 5S ee 9%onc 5s
~) US a eee ZG Os
SEaTSNRG cea 5 1 oe
Iie aa Re >i SSQa-=2 [a] 9 cae CO ood
0 O = Cue oD 4;
; AS aes =< = O ye ©Fcoo =~ore
4n= Nl Lore,5 = SESaeSpe tS a helOo tay Bo08s00 ® BOKP-~GEGQoHxoCAPs yxonGe
mS CeBI ArSB os 3 ees a= eoSEEssssD6 ®
Fanaa se fe
i eens To mes) erase Yeats 2 o <-2@asn iS tIgcx te ox
yt icons Pee mo 5S Ean wn aepr7s comme)
ES AS SU ee weg eed eines 25 oo > x) ro} ac aim 0 2 2 <
Gaim aoe eee, | FE @#ce8t ¥ of PXN5S9G
aN PSS Payoh Stic 5 eer ay oS f¢s oO G6 SV. %QGZ25
gee renee.ee feed ee Be ZREPE Sele (5 Oras So
LR Shee “WeeRieChal (epee beers Sie, coe s5 22" awe OLSreets
: I Ses NescL <3 Aeaee SS 2e BSeeas ESS CoS awoao
4! Coie: 82 core Sab= ec a ess 574SP EPtasgcd Oe SELes5eRssaN528°R 7
ff: efile Done Seay: Pea ee ese
Phe Sh eae Sea
‘ UG Reedeen ® Do SE- 2
BEN ke eee og 3 yvy,d
; kit ss SNe eee cS = Es Eoeds 0
ij5 rs Pies SoyRg iaARGSTS TenlgSigeSC PaLA fl A Lestyas =T©euant3 Oe, oO¢ “uoS442o S=oa00C’S=5
Bay, aN, 4 Teh eae ieee Oc :YcLL ze© Esoa
‘ ; ae ee biel Rae 3 5 ae: ., Clog § o= Q
iq 4 s SO Aa aeeat 22 206 % 8 oe - 2205
pe RE a ey atMeee
: ; ht Bey aah ais hay Fs Ain ten oS ® Ss O Z2qo Ve
—y- ‘i 1 ‘ se SSeohce = SeEez oP
Tate it Be ee Bors Sekiya Sh SES cee Cu un eo © ne
, Ps Bm = a Oo 9 c c
x 2Ro me ieee. «60S oES 29 a e564
aten onoez BlHbWY if:Beate At ate eel ae ols e BiReerie cx S £3 7 & 7 5 bbs LVBE
tea : Nhe £3 SRC NCSI 01 soy meeeer = EHO|G EQeoeEU ceEShEoPC =~oex0 ¥®
4
a LASbe 3) :; PSN aie aNd as oes Altos Lo 285 E4 >VEQS Vous
par | | ; bs as wi 8 lee 5 vss ws £3388 OQ22E
res. i; : By RE ors a ‘Erne = 0 Fed ODE “oO e- & oO re)
iareuend j Westin) es oy a 2x © = aul c
ean eae Raabe atso STO oA = at o4 Ss 29 oof fe O65
RS STG. |}
(aea 3 PeosS| I ()ietNPs? OaBAUGLEN:. comaCRA Tiana i A Sg sive 9 eb gor B2oO# 2
ese ES A ean fice /S Ravse:EN gepoeed oScgar 5% oO
RiteAsef H NhyPia Sea PeteeeeenNiWAT paca,gA Aa e N TalespS Fa3 erayeee ™COSec¢as_ we 96050958fe) B85yy BQ
= yer 1 es Ta| a>BDures 2 a eo sorte
eonee Irs ARUN: OU ela) Seaysager, te lAD a N ao @ 0s Pre Qara ® ® Oo one
Sisbe Cos c | ‘ TP,iore Sar e oNee Aaeare WieiheWithA es3Leyge keyehoh; LL8 BSSu2FGSEs4 s S8uSlacSSzusor ge me
He Sts 4 ,
Waa [ER] | ‘] . ay i AA ee RAL ( laeee tae
| aM hep my NES a
----- End of picture text -----*
----- Start of picture text -----
w5O6 =w Ww c S 7 =o 3gw0+Te. +N on2H)ogwn
@ o
5 § 58 y 5 2 a OPE D le e
ce = 2
B25 Eggen v 3 fe 3
@co © fol av7 yoo < oo LO Gg
~~ © = 0 ry eS cue
ez geo =nosco e £5= Ceo w =
> os e ~- $a a i oe oc sm 2 =
M= SSE CEE BARS
S20 ovw#ew 0526 = ce
3 n2 co 2oc oScet w328=m 5052 QO2 2ae) [6] ”» =xo) ee 2 crS Geer ©> 2
nok 2053oo 5 we SoSme = TcoD eavcSuere) bresseours ecseocets ie}gS-aoLcs o= s oeaie6oesos 8Qo 2oe
# oBe e ©> 2302c o 2aOBE 2°= Geo= emo pe255055 gen a Ss 5
nesa= | osseat ea oe oo 2 £555 GB LESE OE
Ta
eit geet 63 53 pei BBE BiB: BEapeeas
Brocet SeeoO Sog©e PeO253o@ © =) S25sasSesO wuS=5o OYAo) oe£558niso226§ orc! c= ow
ry et fe} Oo PS nes Quel ogee
Mw & ®
Tim Ss GOice s oes aie) = 3 » 2,5 8 GeeGTVoR PhoLHS
e222 SOs hs
wr co S233 [0s][ OY]
Ss oO
Eres Sees 2528 seOw 2eSez&&= EBsae> Qos? SeysesasOTe) ooes
meee oS. 2z8 On Ds YS o Wo a BOsne PS SETS ZS
meatSZ masgasigsWO 2 OOEoleapIoaMM E E E sesm=Oustwo 23 50 ska2 s=2ce MOLE©ooorree?Om uS§oo © 62eeO457SR5Ba50aqLeon’eaneesQOseEs2 s $o
AasSS OWEDAER
whe a)
> pv p>
“, o aeoO cee %. £22 Da"eefic’fess$64 < § SOFSSna te, eePate 5}
<5] w”) D2oe © - Own E i ©} =° o no- det; Oe: silarer4’ ; vy
Y 5= a)xeTi o2 aS 3)see fo Oa8ova“ = = ’ =a a ¥ \j Ty\Ge\ TELhB1d7 = 99:ti}
& SY 6yOOow OMG:eee1 ppouo Oo£0§gno85Oy ° 2¥ e@elGOo>78=>D oc— 2svueh a4 1 a Gita WisNaN« j 8 2
om==) orsovGy @ oo>Pe5_ 2Q EQaseo oo Om bee)a> se5 Araiesaaaaaod
tS ag2OEDo c 1883= [oO] av [od] 8 2 £2oc»3502 Q555Beesao)POE)> ~Bo+)\ ; Py-K..
wo YS me 3h 4
i onovcc =D© pyo5 2Ga ocow OsoO Gio — ~ Boe
. ess c278 a § 8 vt Gino
wu ev < cle ona meta a
ras) [pe] eee Me
ay Sens Vaan veo
<7) aT)pec Lu [Se] = [ ee] w d Yo 6 oO ov + = y “4 = goes \
nmYU OS £58Ese F2382ée2za 58835 BSHALaSy nowu533 DE= ®o 5a c ssRca.A)A 23%so.ave=BeteeoieA one1
“ a Se Sos 8
SE LoePet #69CcOo 2aMN Cc ce4S HeegteosOs BER
) = eSto) xrO ©®@ O6 (0 3 oo v ~~ ses tt
voGe] aDage Soe FBS SS
© paop x pe)c
Y&
3 ayD
go ian: 1 = 0 Tr =
=]
yo °c =SeFO i,eseceSE?BS 528DP o>o) recas© ge2Oo9 =2 o you [e) aS
SsgS : 52055 g2o72s [eu] OG [s] [s2a2] 2018 @Anas2D crooO w 2Qo
5 ipo2808kt 28Sg ae Bor
wo a gz 85 28e e§8yGo Soe ots 322838
6 itePaooeos) Oeo- gn 58re) 5205nnd De ceePREZ- ee_2O ass$O
so5%0
gw O Bei 5258 BelvkE 5 PUG ee Se:
Bei o20 8 ws Poot
© | 82 Sesses DES eos Bo E28 sSougages
N ae) SEES LeSu s oess s @ £enS&358e829o5es 8 s 85 S cL= e5 SsGEo§0% SReEVsoa5sscesacoF CGR a ousglae2PEDSFae
2 =o 2928 BodeQ aZ228=>GeGg 386 esases®9§e2g5 e
oe CEO
Zar2x0 32 oELS cot o07
cP) S BR 258508 ofS = ae b2OGG c fory 65 28C eSra qQ
5 C ®ceSsy 23905 Gesgstees
a ad) EOS Sse= cocTe Pene SBE2969925 SIE PE g <8
ooUn —” PY : ; Si=? . 4 re)moc aePes8 ouDee ferH fe £ b>?iaCLBOSsetsOo iS QC20Pue)o 0n oo0 LSTie2) oYOESyn 2[e)oOoe byRy999
iB) = key
= y ry4 ~ fo)Lo rar] <5? oc cx a Segue 2 Dao ¥
ro) P]= 2 f f22990oeEEES§eEiCc bp ) Seuss-ERBSSo E235 og($05222H roy ESS 09ie) 8Ss
oO = 4 ZRSeaeSoaoodsol 0 G9Poisg=xgseoo S Sers) B&5oab2@EeRLnao 6Siay2PbSscCo@gac(eats>ese858gt“oPOo om&&
----- End of picture text -----
----- Start of picture text -----
Te TT SR= SN aeon teOeOYSig i aFo me yi ghee Aes 20 —— SRR sibear,iso aa
LS) RO ws pees ate Rise See
apS see— nS= —=.ae,wh!3 ASee—\:5 oeeaweWings haioY owes‘ ae sroED ShalAne : Pes f heoe Gt ay < reanita : reSAKE a 3
= Sta
Vs is Bee See el. DENSE ESS "ne Leh
Cee: p= ewe “= Eso. [t][ as,]
: ee- Gse = >ara 4a ean) >5 GANS
Sse - PM ng" 2 ee: eS La BG PRE Psy ra pave Soe Sy BOSE) VES ts s
EY Ser SY sy Saws) BSS Were [ae] Ve eaeMarae PeatSas Ne wg
Bo Se on oo BS ictteae 2SR rile) { ae Page oN e
EsSee ASF aan ENAr eePi aE [Seer:]
ISAT Ne naa Aes} She Boek es hee Tame \ a tio. peta =the ea es mahPe Sissi< om ied: CeeBre,
:
De GANS SaaSONT FS SEAS [2 rae Nie atic ites et
:
ome Ne RR
Se WORE RpSE SOAS “a of a fia eo erica ASSh aes Sea eS Bi :
Bi os —
Re Ge
Tia ES cores ge SS Oi ae are See HEL SSNS ES: re R e peaks eg eae SO 5
Ste , pease: Saigo oe id - ieee
Cs 2 ae
SS ENE est Se eae re Seni hE aaa ah eta sos RU
jp
“eZ \
PIF Or oSSE Sp Cerne ene pe 5 - ee
a Fiz
aikenBoe ape ©.Leeog ehPryhy, Seen2h Spear ese Sea be Seahy- [tae] ene te [ Sea] OS [ te] Sh [Sees] eee [Sake] [ee] [SEN] ee [rea] = 3 BS WeicesSS SRE: jy 4 SS Le
ba ag So Se ech nl [totes]
Te a a ee BO ee oe
“a5 Lee A Sy See i %
; ee 5 Sane: Se eae Sa ie oes a SS re 4
wy ap =Sea tOa oyRs PSSr“Se
«eh 54 Wr |Z\
> o> ‘
=
eee
Bt Age Vt, Gi iheSAE Eig 6 mania oR ee Ty See Were : aE
SALA e paedl pero Me = Pt es isch. = aly Aya ee AE See “ Se, SSA, x hy Sipe ;
% Fy ON eR COB She eae Goes hae ¥ : as
Bygel teya Gi SS beigeNOM ag Joe SoG at SareeaSarge se ET ithe amet beBNSEIN geseers siSOS[Ska NaorNESHAR Tee hp aNiat > Se >
ronanmidis” rut it— peeswer s&s leNS RaEE!ee GIONS Ao oeae oe 7 ees BA. . "2
a VES [a][ 05] [Foa7] eS FEN ees POY
<3: ‘;
ry . | aS WEA Vea Say Noe Ueinthe He Ne ; ayy : wsb )
pUaaa eed Pein Senta Bien toe Ne . SS! oer
£
Ew = c a)
4 xe)
3 ad a o))
5 2 c . oO 2 ,€d
Se o- 5 Oo .o G8 € Cm B ©
+ 3s Sor H¥acpags a a pe. skf
; oe) rege sk
v 2.8 #22 EOSSSES 2PoogE ee BESS gos
= 7 oa owe cox peee MBoreeES SuaP £5?
(e) eQ2n SE SY GOEeEB
ba Fae 85 8 exeBESGLUES FB Zoelivs S235 5%, @
Q 52els0 eCS22 ON $6SB- SEOo2 ODOLoe ec 25eepsDRGSES 3 Beso950 2 PSPnY 2
o 6a5 2 CiaME OFSo CfoMVE> GDH?55 B2ortXFec S o no4 SOLE=a 5 eeOzoO
—_ ewov —PEnp © a e) =4 26 aoO => = =2 VHS=>? i £gq & ®OD=~ x Eo=aDCOoun)@c
r=] fu Go - Oo 2eeoRgeee Sec eygevee? Due Coo
os SHSa 3 8985© © EeenoZ ESsev oegso 0 5 ®no 532on8R DE Re SE ag
a4
qa=sk Oo e aREHESE BS SOE 0)
Y S Ee? oro # G6P2=-~fSs Lee RZgGae Zn e2 a
y c= oog gy ne) S$ oO n oaty4 a O feo ev
rs> SuESots=Qo =u xe)cOodsSEPocrBoeklo)6 BCEZLE®,oSOo8oeCScy EVELDScep=O& S53Bann@ ™m5oERa%E8582SEe2taadO oweutsGEFsuncrneZzeP24 8589e€2OFDoOQ¢oFoYrowo & ne}=ZSocgsobseorrtvootoaoFes3.
-«
es tua 2865 2232 2a SHE oS 22s 2F28
bs =} oo oes 2 ey >
Oo 2 = @ Deoet no o262 Pees ge & uw N zc Vox
3S B52ot > 9532sO" S ealsO8e508@nes Boiser52O 93 8 FaseogU uN 6896- £22
5
n 582 8225 Be OC ee ES ESe>S2a Boos Bune
S Do mi bo
OneoOo 222> oO
re) > ov Oof¢ aZ2&sclBo BLBES SR ou oO chs 0
2 Oo »5FER@ £255Go € O oepeyPpy SegxegeWo ootoat = SeS$“a2eLE 8isl> axc Cc0 Z8EB S5R5c O
O3 405se3 a£ GLE£0965SesG° PoseB3Fx 2 ¥ 5eSE Ssoeeects 298 aosLFLLSH28 B8LUEOsea585€ E RZ<a4X2 cereéc238ELECFanwoS570 oa fCFOEQesco92GFRO°90 8g&
----- End of picture text -----*
----- Start of picture text -----
Aeas Sgave : ESoS << =Sek
beeof.Oe 3aeOS§ Eo3052 ea>oSue0& oOre)=e}coy BgC=yas edeeoesoD —7) fe
aotOca6 0 Se5eoeBE ceon= wons fe iae ‘5qeos6 & aCoos
Goc 5 2E 5 8
o5: s oS =i5 go = = > a
HOE- goeclnwo eyex ta2 oOa yl525ov 2D og = 25
a
> 2 w r=) ce O° Eco ud = =
rayInnee=> moo550 3 mm2oO 5 [ee] Ozcfm [S] 3o 2 20 [5] 2 MaoY: rg ©: isorsaSe
aye208 9e2eeea Te [a] = ef =zunv wv
mo oes: [24] [N55] Aceh [2] Gee [wo] [2] [mse] Mos3 os [oi] SS [2] ©Sm af£4oe Sae2oce e
ocos e505 woe E S15 @ eo Eg:— = 2 aeS :
1m5: eeeeeeetae 258On?G35 omaosSS 3 =vosa oc0 o1 ozOteaFay BeoO OHO(a)i nna?(3)ne
Tetae moe 8 oos ye ope Oo & = = ERASm4 Ye
€ oo os 2 3 o oct 25 8 qos p22 08
woin3 NG e esge s 4nSIn os59Q Bo3 aos e oG296=5 e wo2 2s3go 3oO2505Bel= 25z& = RS5ES
)
:
goy Pere sore
we, 35-85 248
.
Bees oge sg ers- 2 ire) |
ESoP Es oe seek
:PSE EE5328oP s On25 5
Fock yooh se Saxe s
52527c Se295foag©Be?rev BeezCpgeese2 258ge
BES cee es S vy 0 |
BPasSgas
Sogemore£8 @aage PopaFane Jomc J “)
Via :
peeeeebey Sa8e3 3
¥
xe}Se eSoo PCEav = acessSBE oS ‘iVAS
Seg22 lase54325ee BEESSE yES : . . : AE|
FCO5 R= ges 25 3 g S -
wy sgBSeLease oneecse VoeeazoaoeSgeam88 fo))
© } 5Eoasse Psese Bos© Oec fo)~¥ 8250p ® | ‘ @. SEE
of) OLpy SERRAESDIIIS Ss cegag8 a Ra
SBS ERE aes S@clo eo tip. my Ais4 if
wc gpob egesseshc ooes ESFa5 ges Fike; U‘a A, ieeea
, >a £ ase.= ouRoe [8] OF [e)]PoESBLo & , Re Ke
eooe? Ane
Si C SPEERS 2R2E8ROE O5E5PSS Eo6
Oo & gee2e2BSSEG582588GoHIE Baee#CEROsSHOE aeme
g3 8
<5) _ £RS G58
}©a re)S rso :fea?€ to gues28s Sot228588 pa oD nw
ol E: Beleis: Bl atoks© p ny PEGOESS S
9: 268 aca 8 gpEsaes B5e 223 255
tS 5 ES es Beas aoFDCc 62 re oLfny o
5) Pe Sosssees REGS Sas oer ees Ea
wus : aac =o 543 BuSTECSESHERB EES a 5eSceasesees3s
w bB e eges3 2ed 2 eshe s etotesBRSBEST EYpyno 2852538ee aepuke&ae
ie ehoSa5's Br asoees SSE O5 g
| =i [e]FILLESoeEOSOsea© ssa2 ov SaarpEgg2apee£ reess5 efqTao e erk5E Gu s
§ z peseeegee o= 3 GE UES2 SPEERcloseEE
©. wi ade re cpu@ S [=eez2 5 Ro55288Mos5 xiB:ag aed-
~ “” 23ga2 : BeyolesesfastS$,$5 20%882% cateoxBaAGfel 5% =@> 2538ooeSESaeons)o RapoaneBozoa RSa aeOB g> e sacos58co23 gelegss2523ane$5Sa aes852 8
Y | 3 ra} it. 35x 8a¢eaosyo0) es1SE ARROF VESL aoO aWV a POR8 @ BBE2 :
” ofaare oo2 oO S52€£29co cs 8~ Eeoes :
o <7 el a o> a oye .BSHw 9828cv 05 m
oo o 28523acopezguoe s k soc25285 oO +¢ g
adz i) /épa,a , = es 83 £5 0G
)
o 2 nests fe) DES 5 2 3
; @y i~ a4;—_| SBB25on?aOne3 SeePARRSpgeesessoO y eS OLTEceo § SegoeBSDE LF DOG& ;
ome | = ) KX NS # é 4 Seas 2aDES85 Aa 5 8%
5 |5 ‘ ifgas£9ESYo ¢2 Bee SS 6 egQ9@FECS2 2seS@ eeseess eesetee 55282238RL 8S85 RRe#3a 688S25%yo eeSE 55z e ESOsLacS e gees BE DeeagoSgzds e YL |&ao3:
----- End of picture text -----*
—= 5 ob SES° on
Y a= —— < B ~c$.»e 22 £65g@ oe oocy re) » Oo » 2 r-} Baa cuais ats carts ro p35 “ay a Eales peal SS avof iS eh >bec ross Rote 5 eS g .sRERS=ES6428 = 0 oodES ue oocEs SeBaa=2 Se ay 8
te) ZRRSPESEESSSE= Qs =o HO A 2keet @ eae? & a P Qo. a ® 45 oO ' 6) 5 s 9 £ =n 23 os ie Bah a oN Enon cy Pasar aus ihe GAL 2S Pa
PagPS eesG LES ees asee Eee RSE ss £55505SvYesax20 BeMu ohSoe ea aeMs g EREGS afar os EY£o6 SSess~ BahRe aetod ae anesPo | ORSotis a.A 5 5 GO aaaMe. SBAerSs u o Se S - £2 Exes E Do 5 E 8D r=) 2 Neeeg ttm eS waeN oe vo oO a oO DF : Bateien 7 E Bagge sceeseecs w ec 3 oat aie | \ SSreer IRIEet ot Be SeRRS Res oz bees GSLTEce es D2 0 ie %) Syyte4 aeaIPR: : Oa ct Seo Ye me | eae E aEso= on5° cEESBEOEhed Seuss o be z ae | =e ee ee es J pPeeue gee byees fo @ 26§=2 |-8 meet) Go = See aes sues Sees gest eee gee G&G Qi q iF af Re oO < Sg = ee Segre goes eek e ss BS gStoseee aAap 4A: »a eheeEE 2S 35S p88 ie = ee * > ‘Oo > P=) ze} }@ ¥ 4 ~ {4 SuPesPER X aGsHPeSSDSRuafre SBEoeeegae cE2s®@2DDBee BoartaryCeO) te—ee po ah> 9ouasiGASoN SigeOo 2 SmMi4|i)CF p La‘ = \ a QE B280° 4558555 =) oo LU Y { 7 0 Cc noc foun) oc7,2w EG00 poxCSeeseDeQesoeoteg§9S32¢4&565 ELHLVGSaevosge%gsegk
4B.G30rel TleOsQuo 25OSSOD[|!] |]ifff j fe \ —ry xe] > oz 2 E : veo 2 as S @ = ad oo: ®05= age s§o32 2 ie : ok ¥ aeee, Fy me 2th oa 2 a Suge 2Eeze - me Ss S528 a & c = @e0cg > ae is ee8es SH es wt Gt O SE50 aose|es By wo CE eo b8a2o wG CO tees foes fe )a hy[4] = 382=Soy(e) OoCESSof ooSv gy waeQgun 6<4 ga UE x Zeges Pe apie =’ = OD5 £8 OPSSxXeESBS g saoO ay Ee % Bc SEB Oma wel aie aseo e o 2O9%eefe aBow[&] U EBxvyera a8 anG§ no o 2 poe eTeVSD 5 oe Ze co, eg 2 3% =) 2$S2325S25 Ok P20t~05rYe? o OO aa onaee co 58Sn2 » Ce SaS OLOPLBS 328% ree na ges o§evensege ge ose Ga feoeg BSc s8sa8 SSEeesgbogs ¢ sesq{>e o5m2 33820 wyza+wOC wo~ oo OQa Sega es es 5s noes o2x58~£o=“oO 0 SBepvrnoeof F3syere va gn ceE EpPLGOZERS Pah@ G9 al5a0yal ets ofra BS oD™HEco& 2noo@ feta)a Qo,og COamp ceoeces EV SSR EFS . 5560 astecgcuue BS SREERTS aSoos * Sia 8 CeBeate 28s SESERBeE55 E25 EDs BshegeR92E E5268 B82 3 B2o2nvesor ca6c oh4 f 5 =] — vec Ss Cexen esas peugsaceae52D o,o6e2g =LetsWwW© as Z2ESnS B5eSEe Sue 5PSLSL 539%_ 29E48s>> vie 62zigeona~2yoao5 SeeeS 98 Rey SESSassoESESRcfsass£&¢SE8SScTLOBZR hong EESES Suzs2s= e 9 6GSSPE LegPESFponasEP4usg6 8 2)osO o ZReLeSOS e Pea e5eee5aea5 0co Is ec S ao DOOUeE ks sE B EnaS50L8FaoOC so Yan5y52ln LBs rse* seoY Soaua&©saEeegoaBE88= or)58uw SsSgq8 4 TY ESaSola! ———r a cp eT = > ii A) Mr ae fecee 083 “ ‘ = = 1 -¥ i= n ccthpencopaalenn Ae iegy OES mg PSB ies phe ae E Me Ney, SARS se at ow BG ee aoa Bo cat Oe ok © oo 2 oe SEASena Saree x » tates esi pote, ae 5-4 Oe er Ly NaS ited ba 5S 5 gee Ry i peyaee—} 5) Se. | ae « vet - F x: aes 4) ‘. aaece ~~ as Y { s a ey,ee og GN ae okge gern& SUN age 4ase en =i =} — OE ie ~ ab 7 v7 WN ‘theWey ae of ? GE. SBN Feo?[©] a oy BE 9 KAN Ri 1) “=Seamsgo nesBe ro \ a _ 5 in AR Yes 25° RCREE le ee:= Ber oeay Be iss NN > PO ee ia NO a ti i stEeAGLS:ie“tf. eaie. = = ee SEEN ae hoy Rs car1 teESBaas Sf ~ nmBon& NewWe e—Se”Ge.= ESSaies an; Aee Vee” @ FORAYa it TR ee hunces Bmie oe*
: MiPyoss7 Pe Sie! 0) pn) Te”ca hcos raphe i eR tin G0 3 0 Sta « = a 1 a De. ii Bes b wa ye Se OL a SRS vu) ae Naas:| nig fae| se: ve S| aw Sgt aaoe oe ba O = papeleaSeaid aS its) fee Baha
[§][ PWS] 1 ‘us at Na thy =) arn) HAS a. eee =~ edetne bent vee {oe Wp ON[iese] qi ad RGAete 7j an ieApaieneBietaas Rahis EEGees ef A RMeeeSayy BR e MagisBot WartReseesai TESasad atePS oe}SteesRubeowetit ees (EeeRiSia tapenmee SESWe:
GF} WrayVe tres 1 Lo2eoasGELS2= S2pesfo)N — ay ey; zsuw eee_ ea)BY=beescy saksaoto5id) goeetO25reteSS5aRpa g£0isBesnom e fre3)& hebay4X\WW\quULEbtafaieLot meoid Gbp:ye?riSer6%cyweSal<4 g22=
C7) rehelgeeeas E ee:BaousAE®D BSB2ieSeepaee=eesGooZoe[824388] seesasGE 5 eeoO 2 oeBinaPo eSSSse =aEta gzOf a2Ioowad[ti] o&[ HHL] slameGeib&o8peegease)Saleneoo5%faa [a][eoRea] 2 2 aess=o[eheecee] ge[22] D[s] 25252Orapeees#2eocegee8ooBESS2 9°cezio)0 g aa)[ete] pose2gae226ayes:sB5285%c8Panes22aToeOoP5285oF ece hebeov[OBS] a=2gemhe6 readgesgse[g8e583] BolesOoSeeGepeaSgeigscaSy> £UDEge=easBeye£ ge8is Ox£enSeyn= : ; wee,DyTeEE:: [osieiy5amBSN:ESey~ y eo—-a=a=moe~2 oOASPpa= wn ootcoBis9mos2[bebes] D Se[po] ve [s] 4[se:] eslw Oo =ro= eeecsoooBenes2oO oO oO +£322DSeecbteetes252oBEESce) ot[a] (aygtsVeFasMSAN RSSOeSkRPESa neS Tene[HEE] pas(e) En go an oeO gouges= = Ogo esoS[Bre] te a we v2)is) mo Pei(3)[sea] sty 2 of> ae.=os ne)c seeeae![ee] Ser SESE?pegeeeedy06 = ©[as] fs) \WSWS 2 peepis)uu Ss e seegee25352Osa beeke[peunaae] ESO8ooffeeen H=[oe][c2echS] es a eRe e £$a%ietee8E° : =AS[He]
re -2 : rS ‘ g fe oe9 5%ea SE83 aFESeign3S: gees[ee] a, ERoS aia.SS 2[peeseaty] E tee[O58] se 5522[pocesiied] 4X Ve Lt for Keures Ps Dy m4 eat[an] 1 Efe eraiitE Tey a i Abode2hES[ny][Binet] set a4w/ees)ce[A] am gaer ! 1 gees259[isu] EgeBRSE SSaay es c nm, qsR+) oea MI Ve a je?
—i x8Gee285283aaeLOG508 E q peePaeinic[aie] clad t g2 e 6fo) SiBAS,Bp.As‘ ditef/7n2df-ey, aESa[Wags.] e-aRaaa.’ aePatMtsetzt[ (3] it Wh.CHD[ee] aeaej[i] is.; we 528HEH:28Segess oO Jd ee we <[Ze] a ee, ==)2)U Soeg2a8e225Cc3559Foe5 co fo)§Ooc Bubeoibegeads[a][qt] 722£2952>}336gO PESDe[ori] > oe[ £98] ccceoe28ie)ieee)occmafe)@; isa2a wentPyeA | BonR582 Ze 5958Y ieEthosya: eeesq O23n nnyetiscreiipgeReg e sx flea ——— — oe) Dale i: =(2 8 55 Gs 8%io, ~ 805 a o.aces
©=| Ez 582 883s889% >f5 ad928%gx,2 onta 85 gatesB2a5%Pgies£c8 BaeereoO535tal |eCc <¢P8255= D85 os55
© 6) byEH[gabpabe] » > 4°(0) [e)Soaksg58a2+ £32a8§ aleBees[Be] ~ ySi &fa Hy[tei] eB : pw o 22 oun)sees:a2 a e8 ~~Sas2-62a pees>30Sfos aos3
: S35 rages Sfche SasES 2S SE tt San© ped)Se[)) na[Hay] cs[Tae][HED] e iesi ou[eepentes] eEERE[eRe] paehgssne) 883585325[ ee:] Baeae g35Sgc22 =2383=[B58] c28ie} Br2gee ees[m2][a] ey gi wv ¥ Seees na BS ous om9 om(e)SdcU>L -——|VY =Ee@ Py3 . , = SerDfy)atsamei[ae] iSapeeog:Ye[AS] ~, eS2eacose®ne[pg2es] p[G 5] ow[S652»] B528sFEE5ea8Foo 2 o28en2 gis888osRES[ 88] <@£3 ic[guise] £2658559eeyeecues[EES] SEOsE=a5oye88peeSeo&oeGc[SPE] ogeLLgse 2 = oreeSeES2533geeero~gees[S55][508] gS2>aS2GoGodS82[£36] .oO -GoOc[ ae][are][one] g2ERSSEBhsgegabe[a] cog2es=Sfugnakomne)soo= DeeeroELfo)ee8gLY—io)g :Ea8a&
----- Start of picture text -----
rok oa . .
ya! d ms (paseSiaFe -fe a> Os¥ :
bh By? ap feebOe BAnver
S258egeceessBSeeGOESaoweoOC2cos—e5& [—] 225BSwyc 8 [5] eor89 [2] i)5%oo =0% [6] 6 [£] 2 ieSo cuOHPesDu5 0OGOne77)6>§; ithaeeee:7et4;AaWHa.| Ih| i?ayisrywerk||Wi(ithioieeeSeWakpeh,oelpAP)4; fPitaB+aes2|rhiJitS¥ Ree. =Seeae‘seeTFs33ine3thah! taau2' , F Henyy:Stani: >cae: ont‘ cHemi1;}|FFof:J { aah , Srore)TeesCinei.” i /
oOa oDge wn @ Oo c Lob bi weg ors &&
® = PRO) mit) cto o ‘Py pe 15 edocs [sae] [ie]
S525ge als82s => EQRSegzye 4 : wt AyS@
Bea2r23y gees iieMm!| La |tla aeI lgLBeotiaeogeeGtPsA BS reEe binaGeeBetieceerF +tt [ry] }ae S e =ipaseeeHe oeretAY f E ee
te ¢ esash Pes eo ae} / :
osSegeCREEPlSeee288.@eke eclG centoo ERS [285] x.rs2o=5Loae== 256SOsg°fe [292°] ounureYon3 Reipami®WeHe, |S ibmt{oy(ei|: feSRoncites‘Baenoeo)ae hs| BSEPS2ee ra“FatianEDPS |||| airratLPtere apestryihdfate- pee=.apie:.aki SAWY
Sac62 2 o 2.5© =502 =)© =Soswn & © ®g eb A + aSreese caret!I
aa.2RESESS=upL epeaes [On] =| [ Os] O o—re [ De] cw0Fes [ wr] Se TourgoSyn244% = alPaees v3 i:eaeof ; ie4esPate{gesLAY. Ps Wi eaetieesateBi=aittoolre aa-PTREe= ah( mas e).aeRt wnaiaaye< ;thfen
o=hue ese® ee sesOL oO c2zpoHODoO if ateteesa! eyveSRYSotTsTURETe pues
> O22 © omen] pa oO Dp oO E a, 4 £3 Bah de ie ints
z=Se Os fseesey Mercigee 2 £s2 [Oo] PageroFoOaa268ic owfaa Ye‘ i feBaie BaitstS ii Pate Sy:4 id Seer
= a
5” xvVaB +S IO
oO§Os ot ¥xvPc_ 2 2Cc iy,Bee)p}YS‘ |) Bataes:fee.pee FEBS SSalBesseesspt| hacesBathefoeaefonBieneeeaiicorDrivel- aaa5|pa4 [(Seo] > $eSte; -3 bia; Tegfsoeposhpmonay2 ek Pe reeran, /SS hmoe;tetTERe3Prisff .ae SSfa2 Taeasatsave: =4 , ’
<5veotoategv0feeSOPbah5625oofes0VLX5RS©229aoeero® ueYC2oo8a ae)50OOFVueKomra)525&=o =Ss2O0 TD©GS@ oo86@Eve[onYoneGee5Bao=zocxSefBESS2cseP5YS—SOmS@ 96DOc>806 teoosBae)oPSHro}0c aoetaoedeeih.ae| Westayeaeieeeaes2aihatine See¥|.4SAPisStel.a veeranPpaaf3anteaetSi)SSaita8 aSfies+bse Laas tea REasstjel 2AteUROS3): t e PeeaeeRGNSpttoes‘CaneoS,=: &57Seseofraeanie 4=> rs Saé BiaNoaByEE.UbeiarbeigeSRAaeaAOE: eres;“ : eneie): We=epe%AwwwEy‘eembeSiraekaiLeie3=s-eeechub * oat)A anean:essesf .
5 Peet See yi spt has
S2%Reesfce29O562a-elsWiesaeo¥Y%>heQEE54=3329o Sees=o90EGi 82Qaovuc= chEg62ov= ParowPa& Te}falnoaniscoo&eQoEESBED G24WwoO =Yooovo~ ysOB>shp=wnw E. ,| oo)8gee+75)aGyeenLeaeiLoeet ')ia3i2L . ~{ee: }|) areas=.=:‘i Se=> 4a:pesSSnan~ eens— . ei g o “oa.~—ao= 4
SEEL©.&oe256Sftuo 2:02YO2= ox eas2SES20 coo—¥oO DecOy=4RGLzcooGGosOos OwGg#(
oAN s OD ean\
ENT eSPE D Oo vo oxy Pal 3h\
9 oo ec, SOO G\
SSE5a=5 egesas= © ® fo) ae\
SesSur= SHe8=s5 afo S222— 6=oireo SScPEPsc8aaotce~esSoesDD pLwo [DY] > ;£ weeat.ae!i ||| i ||
gy oH :
ce vila ;
Oo wg@- oC ie. fi i
‘3
q 25%oroo 0= 0}e222ZaoPo pa #4yc> § ne)® Te a
e) sat go ome)OSs co 2ac 2 reQO is
Qo ae
ra} cv 2 S58 f
oc
rmLS© =| saeVvcue5.5oT 55% 2833 shaite4i a |..
bo no Bet romsof ; |Soe08eee ‘ | Ries
oe co »ER 855 aoge i
rab)
oo o% S55 oD 52s
bdS m 3 gs Sy 85 c 8o 4%O BY a\ :5
a Oo geo¢ 2 °f£0 geile 1 if
LX € xe Q
a &2) zLo2eosoS 3G= - S526CLV6358= me Hox5G258 0%s8 ; Sie
.> By wo aeoa
> + oSo£
om> aeso aw835 popeLoa go 20 SoeOe me So | , = It‘ Caebao>
~p &Op asegs 25 aeueGERBS SonsESBSEY Tie | fi3) a \ Eo
YW)o's 22%Yano3083 _23 geerO55a 2Dfe) D 8» Zoee—~5~50-0Ga59id Ke4)!fy iroeSan =egi5°6c
nsbm j Fessow2eag LES885s Sos385£ mre | 2s
C) Chenl £ rs} ©1 =oLo) SER5 Ceoo £iL205SOe Orio)o i Wtieif iera ee }
PUT¢
----- End of picture text -----*
----- Start of picture text -----
csPwa) Pal- o 5 ZogKeYeapapesiammy,ee aehy Ray neaeis RIGSEEohANY. Ce Faesfuetybre.te “is, he ijIe‘ TES,AAe
pceaf,i =5 £o e 5°Do og [ss] pe ‘cfEYy oyee a Fonbos y asRats eA)hk —— = malsa —, > a g 2=nes]a,isAa Res:4 [(sy] % igAK,mR
czSau‘S} Q =0 O [S] sS 4 2 5 s\ EO2 SSS} ep Sa— So,aN=, —ieeeeEs. 1 —i7 Dé,Net- Pr aes a. WagAdse4
9 Ure ya)Ns ANH aSAeis <4 ism2 : a
SESSfees au Wutees
D9) 2 co [i] [uo] +oa3 [2] iyow NS AY EN hs Gigeees Wienke i [oe ory Be | Yi
are! [Oon] ek, SeaN SARI LTA eNO Rider 2
8 5 Po=eo ae
aaries wisaea =o= xro [oo] .. rai®Oo =Soe SCESo Sul Bi SREay ? 23 BSB eeSieSOc foe4 1p,Pa
daSevedDomemn,)vo o [or] is ra [2S] Ree = i ~ 97s
ie S45 0 ou 52D ae ae ) es i Pais, 3aeheyOBS USa e Seassp e a$\
FlogSco goSCOTvo © S£ ESele e s a{ a€.Riotmnle eis eamrtNaS ane potea Pied bei\
|\
wee eu oO ia ee line hi Me 2 iY)nea Osh ae\
eoga \ pa ris ea\
Q© 8g o2h=2§ goZoey” ag&aleFt© ESiPoeee eeGSES PROP nietwh.se Se=S Soph agra. & tyitint| eae*‘\
ny o [You] % * : =>. Pele
A)Cog cvcas a aN Tal . PS Hs
: ce
0 Bs Os oySe e e o wywnsites ot.Ne OYSa BCRcha RT i e =
ote 13% % Ste
GR
ak ay eee ss
c @ oo oe WekCSE, ee aa Cs yeYon Mea|
BSE. 2 Sara aoe. A $3)
CRE Sie Wee1 JayaK
£68Be oh ofEéSBES ooHE Seigealee NNSar e s>:e gatica6SmamH VEY£4 wyoOS “aseS ;
n> ges 8 OB NeSito Bee? =. ay vs, ter ¥ : dv
S590 S528 Sees ee ip vaSsi] NAS hea
=
SEN n ) £ Lo oe3 oO Nace BIASDy. a0 Kone easot rzwe yA
XGPoe5DEQseaUL G5®£®o gono =o5 gL2 re=eBS eSbasateBeenaoe SUS TalUSbusaaAS :«. vy SA bs a NiShasSESSn UgoYwkCA fe AS3ekyi
Beeb g he EiNSS) ut fname ‘‘ -
Oe Eas a Bea bese,”GP jp elLap: =
PO
Fe & O# Ooh to Q —
[UA] |
son£0— 0ksoO= [beet] =§— 22>"> of5B [ a>] o [re][6] = SEFayeoeveyNg eb SnsHeaeaeey xWireCibaeessee.ie Ssh"BR. ieneyore Dehsseja yekeeONh NsDaheAe)
“aw“ HE8. ons + i@ fo ¢ c
2 o>
ce & 5)
fe ©eeO we «O
iS Yc >
Py es> or O OY wo = tS ne) “eeie) cADe-e.2-= 0
y £ iS34ag3S fe)GoBSCc cee Ss o>ye85S5529o oO geegebyOGegeQsSeegS560 soe sh?ossOBoO
r=q 3= £6 osLie sg e esee og e §s BaLSa ow on
a eRefo ec as & 1S)eot= iy caso53 [gESE] Cc tee [loos] .
LL x) 22 BES eBL%Oo oD [9%] cs cL
acoIw [+f] 6m2=10 >ereD6> D> PEassoeeeees?soe 28 8 PPvn=EvLooD9 [<8esutes] QeSgeu8tsae c298535 5
52 no Ay Tt eaB8me eaessZou5% = aeo 0 ®
eo° ae3 FP BSSusESebee= [geek] cotsrepo [ eae?] 250, B
co ag & 05m [8] 5 gone2o _2 oof© §
: =6%>cD >=o?=» 8oD c )O 4 S8us 2ee [a:] OPS Pegos ame a:
=2 . c®%>Oo3 ZoeSsegE [22] >20o 22 oarBEERS [eivgake] seenoc ow aoe fegseoSG a e528= G25 >Hoe :gj
panzaad]rarz: =ro)56Osof go~ces5 ooS osOe coBSZEE [eee] CSS avoBEoOofe) ov oLusriedPeeesgsss DERGFZ29%G2i Yer66DGSPLE5OC5CcE meoa&Fjaa
Seaspu. j 22ZéSso 2 Pecuttoeed5 82 sSeon a le0 eeseSSep oPneae efw ERP e Heolinrab)igesoOG Pow [£8] puonS59854S36 [ en] o8 oO2 aa)5p522552 [eee] cocovaeoSEaGeEEUS [gEe%o] 755859582 050& = esGoC2Ao) 2”=a ose> [eo] Ooot [Ss][eae:] 2,Oo en)® ip> Leal=vE
>“a :| FEef> 25sfeeOo i) >=(e)o£38eaeiSCoatohgeSeoasg= [e523] rs)SEEoad [ R05] Oo bagseeeSEZEfans [ H2] as 2£aS ES [oxy] S22 2 oo8508Ss SEeesc© fe)oale) >®o oesas oO ppoqrugOo aeYY0) s
----- End of picture text -----*
: 8 : : a y < a. &
|||~
N
a
co
)
~
QJ
|
wv
ei
Q,
é
a|E
=
+
-
:
aca
i
mits
ate
woes.
aib
af
D
©
H
Oo
3
dees.
Go ey
|
a
G5 8H)
ar
:
HSER
—8o¥
:
=o
|
rer’
O88?
|
a
,
Aa
ogee
Ds:
2
Nese
Beees
oe
5
Seeks
meses
a
:
:
pogee
Petits
a]
7
Rage
=
555 8
Vet
iS
2s
wo osbe
CoE Se.
oo}
£
fee) goo
Begs
come!
5
a
:
a8
o
oR:
o
ue
)
eseel
i
i
co
EH) gay
ae
5
(Ok
aa
rites
Mm Oo:
O
a 8
ql
Cees
| R22. €@ ©
@
Hl
wcsgk
3
:
os
tH ees was. roe
Pins
eee.
Cy coi aesat
O65
% ee see
a
i
an
oo
~ O88
eroeaee moe wt
:
Boe)
eS “A
og
Vor:
oa
LQ5
|
Se
gee
G
gah
rae
:
8
i 253
.
}|
|---|---|---|---|
||||‘
i|
||||:
|
3
®
6
e
|
7
c
3
ze
a
bg
aa
A
eel
xe)
cs
i
2c:
Cc
r=
iu
aH
Sy
$ 528
Cos)
©
cae!
cs
26
j
:
4
i
Des.
© yes.
a
255)
O
208
|
i
oe:
meThS
7
a)
aes
Lo hs
"1
at
eee
See
no eke
ae
Nes Bebe
uy
wo S3E.
0 eae
a
y >e
a.
acé&
=
|
Betas
aa
)
Eu
|
oe7s
H
Setar
oenas
anea ©obese
Al
® OSE
B22
wei
Ca)
oe}
PBs
Be
4
o Begs
|
eT
oc
iss ff5ie:
al
esse.ih
eR ]
ape
“
.
7
||
|6|CD)
UY
=
Ee|aq
oO
co
(oe)
Ce}
w
cS
:
(4)
.|o
5
Str
=
}
pe5e)
igs
bees
ie
oS BS |
af
gece
a
,
:
O
S5ce
ny:
i
HH
ore
See
meh
eiitt
258%
aati
5biee
an
:
<4
|
L
eral
oats
Bees
oO
B
i
a
:
vl
Cg8b
> S85
2d =
:
ee
b:
:
mii
Eos
1b]
;
235
OSeaa
BEL?
OS se5. 9
go .
pag!
tH
Og See.
2Ots
D
<<
£
i
Oo
ra
E
iT)
ne
aL ws e2i
Mcige
a
pe eaes
:
L
oo
:
Ro
gogeek Oo ETE
SgEge
road tad
os
aS) oO
Te!
i
GC
:
Seas:
at
iad
peeae
:
NY
our
ql
Gaeee
Gras
Puy
peeoe
2592
Se Bee SoSigee
a
2838
Baek) a
z
4
wees
a
“i
a
SERS
|
gece
:
Feage.
pe
mo iod. iveeee
B53} d r
Gassky
ess s
sas
236|
----- Start of picture text -----
,
a
Ae) N Vk
ee f
SKS Silks fei
> Ri BB 1a wc
RS Sn. ae ow E f y
Ree os aseed ; y 7
ses:> RSay.Fetes xe Dasnape i 2 Sey J
;
ey
i ee erties: Seager oy ae
Giga A a sae sy ee a
i2f
BESET, Some RAN ANS ye ee xe
ay ae
eo are eee Tey: ef ‘Coit? |
oe 4 ARea oR) Sa See PA NSNis Sse be
a is
A itt ~es ee
: hues * ar », oe 4
econk os re¢ ‘S eae sg
oebas - ry
ee 5” Ce STEN Gece RN ac ere oa Saees tee
By ay ied
IJ SG
; 4 ~p
----- End of picture text -----
fs
----- Start of picture text -----
AL xe) >
oSooov=oO ODS0) 5 PeQQa‘4CoLePps POLES(e) fo)5
2
eroYoons5aQac xaos@o ock8PrvoPEOo 8 (or)COCMVMLBOEoFI Ss35D £O 2
acof gFoaes SorcSP QoE5IHleastZS =Y €22
PQogags SC em SS Fo £
Soges SeeSezrese Fs
>
BGorm#s 5anSOo MeEegdEsSEPne SD2une~Diw cSr x oO> ooo
ef= a"ays Fo0qgPoteso'dSons Y DS0 © >0od 2¥
opSPe 525899050 Xd 24
£3uke fe) oreo mc Dp cD
25H 20 ceoSoms6d ea of i
ol saH#FO E tS aofS$ZeQsg8BTC GOO BH Qoo 82
Og =
a
UO BSR2ega© 2foe 2>S2o8BysSexeghs Eu H SB Ow@c
Cx pe oO FEET ABEL OT foe is a
OVEDES CSL GEL OBZ 2 a
i pas
&
OO | SuoneLfsgeyp o>x e ESs PZTEBl°SERLGdDees£2@EelesBes 2easyss 8a2855 o% SxvF,8o 82,8#8 35a&§ 2 £a:
<b] oYBION G229 Fe BOsPsP eSEcHSES8Sooge Quso 2pSPELEEREG2tSe8.2 efoS g3
oS EEL Coys SSeS YB Poe cB S5ES o3 2
S2P 8e ogsa PsBe e rsaoeseESsSSrtTeEeaes egeey 25gsso SBg e O6nbgan8exa2eus%ssaaseeeSx RGox FB=3z iz
“4
----- End of picture text -----
----- Start of picture text -----
val)
ne)
c Fel :a
2 indo ©S + 8
f= pe w
© == ei Q
w
=a oo — 8 ae ort ~2
x8 B45 Spor— E
om) w 5 a LL os o © yw Vv 3
2) coO ywnE-PS© cceo ro ODc oOc FUP> # weIB Sk aQ
Bee ee es Sed — cect Se Golo
B ata g Ore - ® ” Seuss 5
hb Fo [®] ferFovY BSE CE rs S SroOsV2%e2 8
275 © EG c55 2g 3 y ERSESo LP
ree= bad (va)oO ossopOrGa Ext,He 52ZO#5Spec 2 re}—0 peoSco ‘c—I cCOFQOEo7205 5 5ls2© LLmd
25 2@ eo f£<Xs Ff # G c } = oar =
Se a) sO, st vw eu = cf <6 BEE Ect Seas
BO 0 Domes ORO Ro ae ° a se So Cos oO
a pad ox. > ee ao Brows 2 tp SOFC m>ESS
e@onek eae ee eee Soe ee SOS HGF EZZVVPESES HONG
in SaQuw aD SLeaeZER sou Ree Z ERE PSPC EES S
~ S§ESES Eos eoSsEaeeSr sae BEacecesao ef 8. s
o Yae reDagOReEROzy S9P5p Px tsSs2Rego o =
o exp or En sBRc HG Soeagevevao wu sove r"Ys5s25,u3Vv
c =wecesGe Ron StepsQ2QI¢¢qgrVeSES Sc EES5SoOudods €Cc Ff Zs [ce] [ESS] Ss 0g~>og= ec ocSeP E ODSONch> osmre
De eLfEES m7 55 [eG]
5 I =~ © CC Ecs OEHExUSERBLEHY x 0 © S
LL FHSScle EECSSE REECEREG SHPSMOYV ER ESPERESEHISSSSSVER CEEZZaeeerennnterssSCECROSSERROS ez ae?SES
2
a
QO
“4 !
ty =a =
(°) Oo 0
[4a] (e)
ww SO
2 > th Y ce)
Y = @ 2 = a)
»~ vneg~ &2 ie= 5pe. w= @ OnEB esQo 2
O oa
A f % 2 Se oe
rey atce n SS5 oOi Sa Se fe) a> eSwe = IsOo
iJ Y2uyoeco oO S OoodnM Y (a peCn oe 3 = S© (2
ee] ae ec) oor an) io} um 2 © s ra
epBuf e S@eEase =geet= oSeeidpeaS &eS 3 et635—D2 0 2585 5x
OS) Set OOMoe, ee Tas ash osASV22 Eeessao§=f o5=00=S fe olayx GQU> =O 5pwsSa teO >
Os gf fc e=twe OT GoOuU [Oo]
Qo ores ey tere ea eres eel soe ess
Bio 5 2S ee PES ogo eon 4 vie See ge
GeeILOOOOO0D eee eeGCAABHOLTESSSass aso@2GO¢FGSHRSLEOLtye basOF HAGHLCSSENsasteseeEELS Y
fo)
we£
O%
of
Eso
o7vs ts
; £50"oD =L ©}zu —2
Sis oa
geeiz ©} 3a o |ny
ra o = x =
eo pl aego, FB2 3oy >= 3
aban’ 922esecs g ” Os° aVu o
aa n 2% O > > ” Ie)
aera & v ge ~ 2 v —
(@) | o u?f.= ££= =ao oc 22a eoOnan © Ss8 O5Q
TLa xKevO a cr] ~~ =0 Oo wowe 4S2 D)
Sy oR n aM = 2© Os 4 > c 4
°o6ne 2G galrv 2£ > 2G fe Bx
ae5a = §& a22,6 s Eo2 o§ 58
pu2 F re) oYoyxt &s ~e& veete,SG £p Os®
ceyzof go 4 8on = fe)So SOOTewe 8
> 24 w Sa W~s e545 (a) BSepe rs esses.
oog2 ve wet Gores & Sets u sed Zanes
B58 €3 OFS ERCEONE SRESS EDS S06
da] 2522o>» £0 FFcg= &222Lues S222832anEPAPADEDau RS® OF€S5SSS6EGTEASSGSeacsarorSFessszsoahassO}o2ome&sx
----- End of picture text -----
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Finance Review
The Trust's finances are divided into restricted funds where monies raised must be spent for specific purposes, and unrestricted funds, which can be applied to general charitable activities. Of the total income in 2024, £3,860,314 (56%), was unrestricted, with £3,027,027 being restricted.
This year, the Trust's activities resulted in an unrestricted deficit of £1,081,306 (2023 deficit of £1,179,921) with a restricted surplus of £1,135,957 (2023 surplus of £4,377,160) resulting in total net assets of £28,909,093 (£23,518,114 attributable to restricted activities).
The restricted surplus is mainly the result of a grant received in March 2024 for the purchase of 70 hectares of former farmland at Strawberry Hill for £975,000, principally funded through a Biffa award. This transaction was not concluded until April 2024 and hence the expenditure will be in next year’s accounts.
We are now seeking funding to purchase the remaining 80 hectares of land and buildings. This land has not been actively farmed for more than 30 years and therefore has significant ecological value which we want to protect and enhance rather than allowing the land to be actively farmed again.
The unrestricted deficit represents a budgeted investment from financial reserves and was aimed at growing and diversifying income potential.
-
During the year we have started to invest in 2 new income streams: e On 12 February 2024 Biodiversity Net Gain became mandatory under the Town & Country Planning Act. This requires new developments to showa biodiversity net gain. Where this cannot be achieved on the development site then the developer can pay a third party to fill any shortfall. In this instance the Trust can provide offsite habitat compensation which aligns with local green infrastructure plans and nature recovery networks.
-
e Weare also on the road to certification & validation on the “Wilder Carbon Scheme” which will allow us to sell carbon credits for the carbon we are saving in the Great Fen.
We continue to deliver land management and ecological advice to local authorities, although negotiating service level agreements which fully cover our costs remains challenging. We are grateful for grants from sources such as the National Lottery Heritage Fund and the Landfill Communities Fund although competition for these grants continues to increase. We are actively working on new sources of funding, such as Carbon Capture and Storage and improving our digital marketing, and we are also keeping strong control of costs.
The landholdings in the Great Fen and certain other reserves are included within the restricted funds, together with substantial cash balances held by us against future liabilities for managing specific nature reserves over long periods.
Reserves Policy
The Trustees have set a target for Free Reserves to be at a level sufficient to cover 6 months of unrestricted expenses, where Free Reserves are defined as Net Current Assets excluding the provisions relating to Government Grants, Restricted Funds and Designated Funds. It is recognised that the organisation has significant other assets, classed as Heritage Assets, but these form an integral part of the charity's core purposes and the Trustees have decided to exclude those assets from our Free Reserves calculation. The target has been set in order to provide a sound degree of resilience should circumstances change and also to enable the organisation to provide the initial cash for major projects where funding is in arrears. As at the end of the year, the cover is 3.4 months excluding designated funds. The Trustees have approved a budget for the current year to deliver a break-even position within the next 2 years.
16
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
The total net current assets held by the charity at the end of March 2024 was £5,890,840, of which £3,081,252 were related to specific projects, £1,261,530 has been designated by the Trustees for specific purposes, with the balance of £1,548,058 being unrestricted and available for any purpose. Trustees have decided to maintain this level of unrestricted undesignated funding to allow flexibility to address the on-going financial challenges of high-cost inflation.
Post Balance Sheet Events
On the 5 April 2024 we completed the part purchase of 70 hectares of Strawberry Hill Farm for £975,000.
On the 17 May 2024 the Trust completed a deal to acquire the reserve at Trumpington Medows from a housing developer including its obligations under section 106. The Trust was paid a total of £4,654,800 for taking on the site.
Investment Powers, Policy and Financial Instruments
The Trust is empowered to make investments, and appointed Sarasin & Partners LLP as our Investment Manager in February 2019. We invested funds through them during the financial year. Medium and long term investments are invested in their Climate Active Fund and short term investments are invested in Money Market Fund. The Climate Active Fund allows us to play an indirect role in combatting climate change while seeking good investment returns and performing our fiduciary duties in a responsible manner. Cash balances which are required for short term liquidity are held in interest-bearing bank deposit accounts with terms reflecting expected cash requirements. Cash balances for which there is not a short term requirement are held in interestbearing bank deposit accounts with terms reflecting expected cash requirements over the lives of the projects to which they relate. The Trust employs no financial instruments so does not require a policy to determine their application.
The Trust has invested through Sarasin & Partners LLP at the 31 March 2024, £2,873,732 in the “Climate Active Fund” and £486,332 in the “Money Market Fund”. Both Funds have grown in the year, the “Climate Active Fund” by £211,450 and the “Money Market Fund” by £22,922.
Pension Commitments
We have legacy commitments from the closed defined benefits pension scheme, The Wildlife Trusts’ Pension Scheme, which at the last actuarial valuation as at 31 March 2024, reported a scheme Surplus. The actuary has calculated that the Trust’s share of this surplus is £35,628 (2023: (£32,010)), this has not been recognised in the accounts on the grounds that the asset is not expected to be recovered. Further details are given in note 9 on page 48 of the Accounts.
Risk Management
Risk Management is considered by the Executive on a continuous basis in the context of performance information, any relevant incidents and external events and influences. A Risk Register is kept and reviewed and updated regularly to ensure that all risks are identified and managed to acceptable levels where possible. Proposals taken to Council and Committees include an appraisal of the related risk issues, and risk management is also prominent in discussions and decision-making concerning Trust finances. This includes an appraisal of the implications for cash flow before committing to any major new project.
Inflation and staff recruitment and retention are the two main immediate risks. Inflation remains stubbornly high. We keep spend and forecasts under regular review and take remedial action to stay within budget where possible. Trustees have designated funds to cover for any inflationary costs which cannot be avoided through operational mitigation.
The key recurrent risk areas identified are set out below:
- e risks related to performance by Trust personnel; e risks related to the resources deployed by the Trust; and
17
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
- e risks related to external conditions which might affect the Trust's intended way of operating.
The main strategic risk the Trust faces is Climate Change. We cannot control this risk, so we have to modify the ways we work to adapt to changes, principally through our Living Landscapes work.
We used to recognise the loss of, or significant damage to, a Key Business Location that limits its viability to perform at current levels as a key risk. However, with the move to more homeworking, and key IT systems having moved to the Cloud, damage to any single location would not cause significant problems to the Trust as a whole.
There is one key risk for which the Wildlife Trusts collectively are working to put in place policies and procedures and working with other bodies to reduce the risks to more acceptable levels:
- e Wildlife/environment/charity position is diminished now that the UK has left the EU
We remain in very challenging times for income generation, as people's disposable income is eroded by inflation and stubbornly high interest rates, and this represents our principal operational risk. Other risks are set out below, for information, and for each of these, the Executive and Trustees are confident that the Trust has the appropriate policies and procedures in place.
-
e Risks related to performance by Trust personnel; ; o Difficulty in documenting whether wildlife is declining or growing, and why, and then communicating it
-
Loss of key personnel
-
o Welfare of children and vulnerable adults
-
e Risks related to the resources deployed by the Trust;
-
Decline in grant funding sources
-
e Risks related to external conditions which might affect the Trust's intended way of operating;
-
Pressure to expand housing and employment having an adverse impact on wildlife
-
o Changes in society where joining clubs and societies is marginalised, making it harder to recruit members, volunteers and staff.
Whilst the Executive and Trustees are confident that appropriate mitigations are in place, in these very difficult economic times there is a high degree of focus on the finances of the Trust and the risks related to that area. Policies and procedures are periodically monitored and reviewed as part of the Trust's risk assessment and internal control practice.
18
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Structure, Governance and Management
The Council have pleasure in presenting their report together with the audited accounts for the year ended 31 March 2024. The Council have adopted the provisions of 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 (effective 1 January 2019) in preparing the annual report and financial statements of the charity. The accounts have been prepared in accordance with the Companies Act 2006.
The Trust is a charitable company limited by guarantee governed by the Articles of Association as adopted by Special Resolution on 8 October 2022.
Election of Trustees
Trustees are elected for a three-year term, and may be re-elected, but cannot serve as Council members for more than six years consecutively, except that Officers of Council may serve for up to six years from their appointment as an Officer. There can be no fewer than ten Trustees and no more than eighteen. There were fifteen Trustees in post as at 14 October 2023 and two further trustees were appointed in December 2023. The Board may from time to time co-opt additional members of the Board from amongst the members of the Trust up to the prescribed maximum of eighteen members. Any member appointed under this article shall retire from office at the next Annual General Meeting, but shall be eligible for election.
Trustee induction and training
Potential Trustees are provided with a comprehensive pack before they apply for a role. New Trustees are given an opportunity to learn about the Trust and their responsibilities as Trustees through Charity Commission documents and with an introductory seminar with Honorary Officers and senior staff. Trustees are given an information folder about the Trust and are encouraged to attend meetings of both standing committees in the first year and to visit the Trust’s offices and education centres as part of their induction. The Royal Society of Wildlife Trusts holds open days to which Trustees are invited, where they meet staff and Trustees of RSWT and other Wildlife Trusts.
Governance and management
The Council meets quarterly and is supported by two standing committees:
e a Conservation, Education and Community Committee e a Resources Committee both of which meet at least every four months and are composed of Trustees and members of the Trust with particular expertise or experience, with staff in attendance.
Each Committee receives reports on relevant areas of the Trust’s work. The Conservation, Education and Community Committee cover the achievement of the Trust’s objectives. The Resources Committee covers the provision of the resource to do that. Council receives recommendations from the two Committees, determines policies and concentrates on the good governance and strategic direction of the charity. The cycles of meetings begin with the Conservation, Education and Community Committee followed by the Resources Committee and finally by Council. The Committees make recommendations to Council, and critically review all recommendations regarding land acquisition and changes in staffing. Maintenance of good communication between Trustees and staff is a major part of the governance of the Trust, and executive board and other appropriate managers attend Committee and Council meetings.
The Council provides strategic oversight, and approved a Five Year plan for 2020 to 2025 in 2020, which is being implemented by the executive board.
19
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Executive Board
The Trust’s executive board comprised Chief Executive, Resources Director, Conservation Director, Business Director and Engagement Director.
The Resources Director leads the Trust's finance, human resources, data and legal compliance, and IT teams. The Conservation Director leads the management of our nature reserves and our wider countryside conservation work both through the planning system and through advice to landowners. The Engagement Director oversees the management of the Fundraising Team, Supporter Engagement Team (membership), Communities and Education team and Communications and Media team. The Business Director leads on corporate engagement, Green Finance income, new business development and business planning for both existing and new income streams.
Staffing
The staff employed by the Trust report through the Chief Executive to the Council. The average headcount during the year was 137 staff (137 for 2023) with the average number of full-time equivalents being 113 (111 for 2023). The delegation of authority to staff stipulates the levels of expenditure and contracts that can be undertaken without reference to Trustees and the lines of reporting. This was last updated and approved by Council on 12 December 2023.
Remuneration of key personnel
In accordance with the agreed job evaluation framework and available benchmarking information, the Chief Executive has delegated authority to agree salaries. They will normally do so in conjunction with the Head of Legal Compliance and Personnel or, for Director level posts, with the input and support of the Chair. The Chief Executive’s own salary is set by the Chair and Honorary Officers.
Subsidiary company
The Trust has one wholly owned subsidiary, WTBCN Trading Limited, the principal activities of which are retail at the Trust Visitor Centre in Northamptonshire and on-line; and the activities of Muchwood Green Burials Limited. As the sole shareholder, the Trust is represented at shareholder meetings by appointed Trustees of the charity. WTBCN Trading Limited has covenanted to gift its distributable profits each year to the Trust.
Related organisations
WTBCN Trading Ltd owns 50% of the share capital of Muchwood Green Burials Limited whose principal activity is the provision of green burials. The aim of the Trust is to expand this joint venture to provide future revenue for the Trust.
The Trust, together with a number of Wildlife Trusts, jointly participate as employers within The Wildlife Trusts Pension Scheme, which is described in Note 9. The lead employer is the Royal Society of Wildlife Trusts.
The Trust is a corporate member of Royal Society of Wildlife Trusts, (“RSWT” — a registered charity number 207238) which acts as an umbrella body carrying out lobbying and public affairs on behalf of all Wildlife Trusts and facilitates joint working. Member Trusts have the use of RSWT’s logo and share the resources, best practice and special experience of other member Trusts. RSWT also leads national fundraising for the Wildlife Trusts, and has brought significant income to this Wildlife Trust in the year under review. Membership of RSWT gives the Trust a national voice and profile, as well as a place in a network of similar organisations with shared aims and reputation in the eyes of those unfamiliar with its particular work. However, each member of the network remains entirely independent in terms of governance and charitable status. The independent Trusts and the RSWT work together under the banner of The Wildlife Trusts through a Memorandum of Co-operation.
20
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
The Trust continues to support the work of the RSWT in a variety of ways. Senior staff serve on several national working groups and represent the Wildlife Trusts movement at national meetings and events.
The Trust’s main external agency for recruiting new members is a company called “CF Fundraising Limited” (CFF) who also work with Kent, Lancashire Manchester & Merseyside, London, Surrey and Sussex Wildlife Trusts. This contract commenced on the 1 June 2019. Contracts have been renewed regularly since then, although Covid-19 may have limited their effectiveness, and the economic crisis of September 2022 made face-to-face recruitment more difficult.
Fundraising Regulation statement
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire is registered with the Fundraising Regulator (FR) and complies with the Charities (Protection and Social Investment) Act 2016. We follow the FR’s Code of Fundraising Practice and abide by the principles set out in the Code and our own Fundraising Promise. We ensure that our employees and sub-contractors are aware of, understand, and adhere to good practice as recommended by the Fundraising Regulator, Chartered Institute of Fundraising, Information Commissioner's Office, Direct Marketing Association and any other appropriate regulatory or statutory body.
There has been no failure to comply with the schemes and standards mentioned above.
We use a face-to-face fundraising organisation, CF Fundraising Limited (CFF), to recruit members on our behalf. CFF conducts its service in accordance with the FR’s Code of Fundraising Practice, the Charities (Protection and Social Investment) Act 2016 and the Charitable Institutions (Fundraising) Regulations 1994. In order to monitor the fundraising activities carried out by CFF, we have quarterly meetings with their director and undertake ‘mystery shopping’ on new recruitment staff and informal checks on longer serving staff. Each new recruiter must go through an induction with us before beginning face-to-face recruitment.
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire has a system which logs compliments, criticisms and complaints from the public. There were ten formal complaints recorded in the last financial year: four relating to car parking charges; three concerning our management of our nature reserves; and three relating to our communications with our supporters. All ten complaints were resolved satisfactorily.
Fundraising Objectives
The Trust’s fundraising objectives were to raise income through its individual membership scheme and appeals, through grants, corporate membership, donations and sponsorship and benefitting from legacies and in memoriam gifts. We have raised funds through all of these to the value of £6,764,503 as described on page 44. This is a return of £5.35 for each £1 spent.
Public benefit statement
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, Charities and Public Benefit. The Trust’s charitable purpose is enshrined in its mission to conserve local wildlife, by caring for land ourselves and with others; to inspire others to take action for wildlife; and to inform people, by offering advice and sharing knowledge. The Trust has delivered this public benefit through more than 100 of its nature reserves with free public access, its education programmes aimed at schools, colleges, adult groups and the wider public, and through advice to landowners and local authorities.
21
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Charity Information
Patron Baroness Barbara Young
President Michael Allen
Vice Presidents Dr Jenna Bishop (14 October 2023) Sir Charles Chadwyck-Healey, Bt. Prof Sir Partha Dasgupta Sir Hugh Duberly Sir Graham Fry Dr Derek Langslow
The Council of Trustees Chair of Council Prof William Stephens Vice Chair Rebecca Jarrett
Honorary Treasurer Hannah Bartram
Honorary Secretary Paul Solon Chair of Conservation, Education & Community Committee Prof Samuel Brockington Dr Matt Walpole (resigned 14 October 2023)
Trustees Dr Hilary Allison anPe Cnema J : anet Davis MateraMs Kathryn Hageman (appointed 12 December 2023) Matthew Hayes Michael Krause Chris Lewis (resigned 14 October 2023) James Marsh (appointed 12 December 2023) Dr Ananya Mukherjee (resigned 14 October 2023) Michael Samways Rebecca Stock Richard Vyse
Company number 2534145
Registered and principal office The Manor House Broad Street Great Cambourne Cambridge CB23 6DH
Chief Executive and Executive Board to whom day to day management is delegated Chief Executive Prof Brian‘ Eversham
Resources Director Marc Fletcher
Engagement Director Louise Rackham . : Business Director Alison Thompson Conservation Director Matt Jackson
Auditors Saffery LLP Suite 12 Westpoint Peterborough Business Park Lynch Wood, Peterborough, PE2 6FZ _ Principal bankers Barclays Bank plc 9 -11 St Andrews Street Cambridge, CB2 3AA Investment managers Sarasin & Partners LLP J H 100St Pauls Churchyard London, EC4M 8BU Solicitors HCR Hewitsons 50-60 Station Road Cambridge, CB1 2JH
VAT and Tax advisor William Lewis 10 Langley Way, Hemingford Grey Cambridgeshire, PE28 9DB
Registered charity number 1000412
22
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Statutory Information
Statement of the Board's responsibilities
The Trustees, as listed under Charity Information on the previous page, are the Directors of the Trust in terms of the Companies Act. The Directors are Charity Trustees as defined by section 177 of the Charities Act 2011. The Trustees collectively form the Council of the charity which is also the Board of Directors of the company who are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:
-
e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP (FRS102); e make judgements and estimates that are reasonable and prudent;
-
e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Going concern
The activities of the charitable company, its objectives, factors likely to affect its future development and the policies for managing its capital and financial risk are detailed in the Annual Report. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future as the Trust has a regime of annual budgeting supported by quarterly reforecasting, enabling considered management and informed decision making. This, allied with a pragmatic level of reserves, and an appropriate identification and quantification of risk, supports the Trustee conclusion. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Statement as to disclosure of information to auditors
The Council of Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the Members of the Council have confirmed that they have taken all steps that they ought to have taken as Members of the Council in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.
23
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
In approving the Trustees’ Annual Report, the Trustees are also approving the Strategic Report (pages 2-15) in their capacity as company directors.
By order of the Board
Prof William Stephens Chairman of Council
mn June Jozs
24
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Annual Report for the year ended 31 March 2024
Our Thanks
Enduring and improving relationships have been, and will continue to be, important factors in the Trust’s success. Without the support and co-operation of a huge number of people, we would have achieved little during the year. The support of members, corporate members, sponsors, charitable trusts, government organisations at all levels and our professional advisers has been vital, as has the remarkably dedicated work of our volunteers, staff and Trustees.
Our Great Fen Partners
Environment Agency Huntingdonshire District Council Middle Level Commissioners Natural England
Financial support has come from many quarters, but we are particularly grateful for the monies received from legacies bequeathed. The Trust also recognises the enormous value to its work of volunteers who number in excess of 1,000.
25
Independent auditors’ report
To the members of The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Independent Auditors’' ’ Report
Opinion
We have audited the financial statements of The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
-
In our opinion the financial statements:
-
° give a true and fair view of the state of the affairs of the group and the parent charitable company as at 31 March 2024 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
° have been prepared in accordance with the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
26
Independent auditors’ report
To the members of The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.
We have nothing to report in this regard.
Other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
e the information given in the Trustees’ Annual Report which includes the Directors’ Report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
° the Trustees’ Annual Report which includes the Directors’ Report and the Strategic Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 require us to report to you if, in our opinion:
-
e adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
-
° the parent charitable company financial statements are not in agreement with the accounting records and returns; or
-
° certain disclosures of Trustees’ remuneration specified by law are not made; or ° we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of the Board’s Responsibilities set out on page 23, the Trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the group and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
27
Independent auditors’ report
To the members of The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the Trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with Trustees and updating our understanding of the sector in which the group and parent charitable company operate.
Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness ofjournal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
28
Independent auditors’ report
To the members of The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Ya[fery][LLP] Gareth Norris FCA (Senior Statutory Auditor) for and on behalf of Saffery LLP
Chartered Accountants
Statutory Auditors
Suite 12 Westpoint Peterborough Business Park Lynch Wood Date: | AuGusT 2024Peterborough PE2 6FZ
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
29
| The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire | The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire | The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire | The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire | The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire | |
|---|---|---|---|---|---|
| Consolidated statement offinancial activities incorporating theincome and expenditure account fortheyear | |||||
| ended 31 March 2024 | |||||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | ||||
| 2024 | 2023 | ||||
| Notes | £ | £ | £ | £ | |
| Income and endowments from: | |||||
| Voluntary Income | 3 | 2,004,519 | 157,829 | 2,162,348 | 2,860,374 |
| Charitable activities | 4 | 1,737,306 | 2,864,849 | 4,602,155 | 7,573,968 |
| Interest& Investments | 5 | 82,873 | 5,249 | 88,122 | 77,203 |
| Income from interests in | |||||
| associated undertakings | 12 | 35,616 | - | 35,616 | 21,759 |
| 3,860,314 | 3,027,927 | 6,888,241 | 10,533,304 | ||
| Expenditure on: | |||||
| Raising Funds | 6 | 1,265,044 | - | 1,265,044 | 1,281,898 |
| Charitable activities | 6 | 4,238,933 | 1,577,257 | 5,816,190 | 9,904,254 |
| Total | 5,503,977 | 1,577,257 | 7,081,234 | 7,186,152 | |
| Profit/(loss) on disposal offixed | |||||
| Assets | 12,825 | (400) | 12,425 | 23,638 | |
| Net income/(expenditure) | (1,630,838) | 1,450,270 | (180,568) | 3,370,790 | |
| Transfers between funds | 19/20 | 314,313 | (314,313) | - | - |
| Net (outgoings)/ incoming | |||||
| resources before other | (1,316,525) | 1,135,957 | (180,568) | 3,370,790 | |
| recognised gains & losses | |||||
| Other recognised | |||||
| gains/(losses): | |||||
| Unrealised gain/(loss) on investments |
235,219 | - | 235,219 | (173,551) | |
| Net movement in funds | (1,081,306) | 1,135,957 | 54,651 | 3,197,239 | |
| Reconciliation offunds: | |||||
| Total funds brought forward | 6,472,285 | 22,382,157 | 28,854,442 | 25,657,203 | |
| Totalfundscarriedforward | 21 | 5,390,979 | 23,518,114 | 28,909,093 | 28,854,442 |
The Consolidated statement of financial activities contains all gains and losses for the year and all activities relate to continuing operations. The profit for the purposes for the Companies Act 2006 is the net incoming resources before other unrealised losses/gains. The notes on pages 37-67 form part of these financial statements
30
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Consolidated balance sheets for the year ended 31 March 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed Assets | |||||||
| Tangible assets (Page 36) | 4,325,036 | 4,224,030 | |||||
| Heritage assets | 10 | 18,545,498 | 18,362,914 | ||||
| Intangible assets | 11 | - | 42,781 | ||||
| Investment in Associated | |||||||
| Undertakings | 12 | 500,000 | 521,759 | ||||
| Total fixed assets | 23,370,534 | 23,151,484 | |||||
| Current assets | |||||||
| Stocks | 13 | 70,435 | 61,743 | ||||
| Debtors | 14 | 2,887,820 | 1,543,319 | ||||
| Investments | 15 | 3,360,064 | 3,125,692 | ||||
| Cash at bank and in | |||||||
| hand | 617,928 | 2,085,979 | |||||
| Amounts owed by | |||||||
| Associated Undertakings | 10,000 | 10,000 | |||||
| Total current assets | 6,946,247 | 6,826,733 | |||||
| Liabilities | |||||||
| Creditors: | |||||||
| Amounts falling due | |||||||
| within one year | 16 | (1,055,407) | (729,967) | ||||
| Net current assets | 5,890,840 | 6,096,766 | |||||
| Creditors: | |||||||
| Amounts falling due after | |||||||
| one year | 17 | (311,239) | (346,564) | ||||
| Provisions for liabilities | |||||||
| and charges | 18 | (41,042) | (47,244) | ||||
| Net assets or liabilities | |||||||
| before pension provision | 28,909,093 | 28,854,442 | |||||
| Pension provision | 9/18 | z | . | ||||
| Total net assets | 28,909,093 | 28,854,442 | |||||
| The funds of the | |||||||
| charity | |||||||
| General funds | 3,923,396 | 3,923,397 | |||||
| Designated funds | 1,467,583 | 2,048,888 | |||||
| Total unrestricted funds | 20 | 5,390,979 | 6,472,285 | ||||
| Restricted income funds | 19 | 23,518,114 | 22,382,157 | ||||
| Totalfunds | 21 | 28,909,093 | 28854,442 |
The notes on pages 37-67 form part of these financial statements.
31
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Consolidated balance sheets for the year ended 31 March 2024
The financial statements were authorised for issue by the Trustees on 11 June 2024 and signed on their behalf by
Hannah Bartram — Honorary Treasurer Company Registration No. 02534145 Charity No: 1000412
32
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Charity balance sheets for the year ended 31 March 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed Assets | |||||||
| Tangible assets (Page 36) | 4,325,036 | 4,224,030 | |||||
| Heritage assets | 10 | 18,545,498 | 18,362,914 | ||||
| Intangible assets | 11 | - | 42,781 | ||||
| Investments unquoted | 1 | 1 | |||||
| Total fixed assets | 22,870,535 | 22,629,726 | |||||
| Current assets | |||||||
| Stocks | 13 | 52,003 | 40,203 | ||||
| Debtors | 14 | 2,887 ,326 | 1,542,319 | ||||
| Intercompany Debtor | 110,609 | 99,176 | |||||
| Loan to subsidiary | 542,500 | 542,500 | |||||
| Investments | 15 | 3,360,064 | 3,125,692 | ||||
| Cash at bank and in hand | 502,947 | 1,995,728 | |||||
| Total current assets | 7,455,449 | 7,345,618 | |||||
| Liabilities | |||||||
| Creditors: | |||||||
| Amounts falling due within | |||||||
| one year | 16 | (1,044,707) | (720,483) | ||||
| Net current assets | 6,410,742 | 6,625,135 | |||||
| Creditors: | |||||||
| Amounts falling due after | |||||||
| one year | 17 | (311,239) | (346,564) | ||||
| Provisions for liabilities | |||||||
| and charges | 18 | (41,042) | (47,244) | ||||
| Net assets or liabilities | |||||||
| before pension provision | 28,928,996 | 28,891,053 | |||||
| Pension provision | 9/18 | - | - | ||||
| Total net assets | 28,928,996 | 28,861,053 | |||||
| The funds ofthe charity | |||||||
| General Funds | 3,943,299 | 3,930,008 | |||||
| Designated Funds | 1,467,583 | 2,548 888 | |||||
| Total Unrestricted Funds | 20 | 5,410,882 | 6,478,896 | ||||
| Restricted income funds | 19 | 23,518,114 | 22,382,157 | ||||
| Totalfunds | 21 | 28,928,996 | 28,861,053 |
33
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Charity balance sheets for the year ended 31 March 2024
As permitted by Section 408 of the Companies Act 2006, the parent Charity’s Statement of Financial Activities has not been included in these financial statements. The parent Charity’s total incoming resources for the year were £6,806,469 (2023: £10,442,029) which includes donations of Enil (2023: Enil) from its wholly owned subsidiary undertaking, WTBCN Trading Limited. The net surplus for the year for the Charity was £67,944, (2023: £3,170,847 surplus). Details concerning the subsidiary company along with results and financial position are set out in note 30.
The notes on pages 37-67 form part of these financial statements.
The financial statements were authorised for issue by the Trustees on 11 June 2024 and signed on their behalf by ( X
Hannah Bartram — Honorary Treasurer Company Registration No. 02534145 Charity No: 1000412
34
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Consolidated cash flow statement for the year ended 31 March 2024
| Notes | 2024 | 2023 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Cash flows from operating | |||||||
| activities: | |||||||
| Net cash provided by/(used | |||||||
| in) operating activities | 27 | (1,152,600) | 5,008,066 | ||||
| Cash flows from investing | |||||||
| activities: | |||||||
| Dividends, interest and rents from investments |
88,122 | 17,203 | |||||
| Share of profits from Associated Undertakings |
De | ||||||
| Investments (purchased)/ disposal proceeds |
847 | 251.158 , |
|||||
| Purchase ofAssociated Undertakings Purchase ofHeritageAssets |
. (182,984) |
eaeradg) (4,297,500) |
|||||
| Purchase of property, plant and equipment |
(309,013) : |
(88,945) : |
|||||
| Loan to Associated Organisation |
7 | (10,000) , |
|||||
| Purchase of intangible assets | : | 7 | |||||
| — BPS entitlements | |||||||
| Sale of Fixed Assets | 26,952 | 23,500 | |||||
| Loans | |||||||
| Net cash provided by/(used | |||||||
| in) investing activities | (366,076) | (4,544,584) | |||||
| Cash flows from financing | |||||||
| activities | |||||||
| New loans | 50,625 | - | |||||
| Net cash used in financing | |||||||
| activities | 50,625 | - | |||||
| Change in cash and cash | |||||||
| equivalents in the reporting | |||||||
| period | (1,468,051) | 463,482 | |||||
| Cash and cash equivalents at | |||||||
| the beginning ofthe reporting | |||||||
| period | 2,085,979 | 1,622,497 | |||||
| Cash and cash equivalents | |||||||
| at the end ofthe reporting | |||||||
| period | 28 | 617,928 | 2,085,979 |
35
oS
|||o
FE|“|ges’:
|p)
25
oO
7
o
aot
=
R e
]
Co)
i|ge'g'|s|
—~8
%
|©
NN
oO
Te)
-— 2
oO
re)
nL
2S
|6
N
N|gle
o|o
9 ||
6 |
Fi ||
|---|---|---|---|---|---|---|
|||se
=o
Z£
a
o =
6 §||gi't':
jg)
co
©
N
~
baa
co|gis
|g)
K
roy
is)
Psy
a
|o
co
~|gig
ola 2
<|o£
<|qI Oo
5
2&|
|||a
5 8
23
a
‘e
=5
>|a|anna:
4
st
a
N38
£}
an 2
a]
t+
ies)
fo)
+
+|oto
Te)
88
8
|£|
o%
o¢
lol
o
fo)
Oo
Ze)
roa)
ao a
o|®
8 Ken)
BIN $ Slo2
=O
=/°2
ke|
|||z
98
oe|4|st
'
Fo bo8
8
gs)
Nn
i
x
x|gz ''e@
isl
o
st
Te)
+
i.)|a)
nH
gigs
alm &
s]o|
|||Osz8
o©
6
al
moore
©
'
=
5.
co §
lO
qi
'S
8
S/S 2
= 5
no
o
Or
oD
oF
CIS
6
Se
YS
o
=
gs
|<
B/S=
a4
=A
oS
3
=
|=
wis=|||||
|;
=
a
<
5]
2.
£
ro]
£
5
zZ||cs
oo
rs)
g
Fg
Ep 2
ocs
ge
eos
ae 2
£
.—|“
Ql|'
8
Ff
8
zs)
A
N
oO
oO
©
Ba
rs)
ro)
7
>
errr
feo)|gi'e
|g)
~
~
|x
7
3
3
|o
Ye)
ve)
+
8
fF
8
'|a2)
=
5
ao}®
alg&
esee
i+
Slo3
6
Tivt
oO
[o)
5
®
oO.
o
e|ico co|
|st
eo
o ©
= N
car
HS
88
——
A
Qe
Ea
6 2
- 5
¢
fs
=
wb >
Bo
a
oF
3 4
o
Oo w~
5 3
a
a)
= 3
oo
3
Lx
Fe
o
£S
PI
SP
=
a
23
EA||
>
”
8
|e
=
D
S
|e|noe}
ce
eo @
ao
ir)
o &
2
- ®
32
>
=
3
Sf
£o
5
So
oP?
wa|Gl
a|>
>
©
©
-
-
N
I
>
es en ee |
'
os
rep)
so
R
ql
N
7
tt
nN
i
st
t+
te}
ve}
-
—
2
c
D>
5
52
+
=
2 8
N
re
S05
&
3s ON
oO
N
Zo
Ces
co A
|
D
O
>— yHnSESE
ee oD 5 ED
SSa58S5SS
H- DAS
>
9,028
O24
Oct atar
an?|oo
@
4
'
-=
'§
§
Oo
=
~
&
[1
a
ed
wy
st
N
©
=
-
N
Fe)
ts)
ra
o
>
N
2)
o
&
CN ww
co
N
oot.
+
=
= Q ©
S@=-248
©
5 5
a
by
9SEFHZH
SF
a-°°C8&
OO
ot,cSl
2
aoOztOrFO
<x|Sloqy O
Sloa
SI
OS
aw 8
NIN A
a
ef
STAN
oOo
Gi al
@
oN
eas
lo
&
BS
elo 29
R/S Sx
Mm]O
<= 6G
ala
O«4
weio >
e}]o
+. 2
-I- £2
o£
2
”
oD
to 28
an A YG
SOS Zo
=X N
SS
> 5
>5 5
°
2x £263
7 2k
SSB 4%
oo 28
3O2ce
=z=<i < 2a
Fe|
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
Charity Information
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire is a charity and a private company limited by guarantee domiciled and incorporated in England and Wales. The registered office is The Manor House, Broad Street, Great Cambourne, Cambridgeshire, CB23 6DH.
- Accounting policies
1.1 Basis of accounting
These financial statements for the year ended 31 March 2024 are prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (‘FRS102’) and in accordance with the Companies Act 2006 and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments and in accordance with applicable accounting standards. The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice - Accounting and Reporting by provisions of 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 (effective 1 January 2019). 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 Trustees confirm that the Charity is a public benefit entity.
1.2 Basis of consolidation The consolidated accounts of the group incorporate the financial statements of the charity, its trading subsidiary company (both of which were made up to 31 March 2024) and its associated company. The statement of financial activities and the balance sheet consolidate the financial statements on a line by line basis where appropriate. No separate statement of financial activities has been presented for the Charity alone as permitted by Section 408 of the Companies Act 2006. Details concerning the subsidiary company, along with the results and financial position are set out in note 30.
Investments in joint ventures and associates are carried in the group consolidated balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
37
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements continued for the year ended 31 March 2024
-
Accounting policies (Continued)
-
1.3 Going Concern The Financial statements have been prepared on the going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of free reserves held for the charity to be able to continue as a going concern.
-
1.4 Critical Judgements made in applying accounting policies In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Charity accounts for depreciation in accordance with FRS 102. The depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life. Judgements are made on the estimated useful life of the assets which are regularly reviewed.
1.5 Fund accounting
-
1.5.1. Unrestricted Funds These funds can be used for any of the charity's purposes.
-
1.5.2 Designated Funds These funds are set aside by the Trustees out of unrestricted funds for specific purposes or projects.
-
1.5.3 Restricted Income Funds These funds have been given to the Trust for a particular purpose to be used in accordance with the wishes of the donor.
-
1.6 Incoming resources Donations and legacies consist of donations or gifts, legacies, subscriptions and covenants and fundraising activities. The income is all credited to the statement of financial activities on a receipts basis, except legacies. Legacy income is included in the accounts when the amount due can be quantified with reasonable accuracy and the receipt is probable. Where the legacy includes shares the value is shown as a debtor in the accounts until the funds are passed to our Investment Managers at which point they are shown as investments at market value. Tax refunds on covenant income are however accrued. Gifts in kind of a capital nature are taken into account on a current valuation. Rents are not recognised on a receivable basis.
Few life subscriptions are received and are not material in the context of total subscription income. They are therefore credited to income upon receipt and are not deferred.
38
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements continued for the year ended 31 March 2024
- Accounting policies (Continued)
Revenue grants including service level agreements and landfill tax credits are either credited to the statement of financial activities on a receipts basis or accrued depending upon their nature. A number of grants are retrospective and where these are outstanding at the yearend for work completed, they are accrued. Grants received for the acquisition of a fixed asset are credited to the statement of financial activities when received and depreciation charged against the fund to which it is credited over the life of the asset.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions have been met. Were the grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised asa liability.
- 1.7 Resources expended
Capital purchases are included in the accounts at cost. A de minimis level of £10,000 is applied to all capital items, capital purchases of less than £10,000 being expensed.
All expenditure, other than that which has been capitalised, is included in the SOFA, recognised on an accruals basis, as a liability is incurred. Any irrecoverable VAT is allocated to the cost it relates to.
Cost of Raising Funds comprise the costs associated with attracting voluntary income and the costs of fundraising and maintaining memberships.
Charitable activities consist of those costs incurred in support of expenditure on the objects of the charity. These include the provision of the premises, personnel, information technology and audit fees.
Support costs are allocated to each category of expenditure based on the proportion of staff costs.
Commission paid to staff in respect of subscription sales made is recognised on a receipts basis.
- 1.7.1 Irrecoverable VAT
The charity and its subsidiaries are partially exempt. Irrecoverable VAT is allocated to the appropriate cost categories.
1.8 Tangible fixed assets and Depreciation
| Tangible fixed assets other than freehold | land are stated | at cost or valuation | less |
|---|---|---|---|
| depreciation. Depreciation is provided at rates calculated to write off the cost or valuation | |||
| less estimated residual value of each asset over its expected useful life, as follows: | |||
| Freehold property | 100 years | ||
| Improvements | 14-50 years | ||
| Computerequipment | 4 years | ||
| CRM Database | 8 years | ||
| Conservation equipment hides, fencing etc. | 8 years | ||
| Office equipment | 10 years | ||
| Motorvehicles | 6years |
39
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
- Accounting policies (Continued)
1.9 Heritage assets
The focus of the Trust is the protection and enhancement of wildlife habitats and biodiversity throughout Bedfordshire, Cambridgeshire and Northamptonshire. As such the Trust owns and maintains a number of nature reserves that fall into the definition of heritage assets in accordance with FRS 102.
The Trustees consider that, owing to the incomparable nature of the nature reserves, conventional valuation approaches lack sufficient reliability and that, even if valuations could be obtained, the costs would be onerous compared with the additional benefits derived by the Trust and users of the accounts. As a result, these assets have been capitalised at cost, and being land in nature reserves have not been depreciated.
Nature reserves acquired by gift are not capitalised unless a reliable enough reference value at the deemed cost of the asset is available without undue expense to the Trust. The costs of maintaining the heritage assets are expensed through the Statement of Financial Activities as incurred, as part of the Trust’s charitable activities.
1.10 Intangible assets
Purchases of entitlement to Single Farm Payments/Basic Scheme Payments are valued at cost less accumulated amortisation. Historically the useful life of the Basic Scheme Payments entitlements was deemed to be until the end of 2027, however on 15 May 2023 the Government introduced the delinked scheme, which is no longer based on the ownership of the entitlements. This therefore meant that the value of the entitlements was deemed to be £nil (2023: £42,781). Amortisation has been included to write off the cost.
-
1.11 Stocks Stocks are stated at the lower of cost and net realisable value, where cost comprises purchase price. Livestock is held at deemed cost which is 75% of the prevailing market rate.
-
1.12 Pension Costs
The Trust, together with a number of other employers, operates The Wildlife Trusts Pension Scheme (‘WTPS’). WTPS is a multi-employer defined benefit Scheme which requires contributions to be made to a separately administered funds.
The cost of providing benefits under the defined benefit plan is determined by using the projected unit credit method, and is based on actuarial advice.
The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The costs are recognised as an expense in measuring income and expenditure in the period.
The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in the statement of financial activities as other finance revenue or cost.
Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other recognised gains and losses in the period in which they occur and are not reclassified to profit and loss in subsequent periods.
40
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
1. Accounting policies (Continued)
The net defined benefit pension asset or liability in the balance sheet is the total of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value ofa net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.
The Trust also operates a defined contribution schemes for the benefit of its employees. The costs of contributions are written off against incoming resources in the year they are payable. The assets of the scheme are held separately from the Trust in independently administered funds.
Full details of the Trust's pension arrangements are given in Note 9.
-
1.13 Funds carried forward In accordance with SORP 2019 (Accounting by Charities), restricted funds received for projects which are substantially incomplete or not commenced at the year-end are recognised in the year in which they have been received and carried forward in the balance of restricted funds. The restricted funds are reduced each year by an amount equal to any expenditure on such projects which have been incurred in the year.
-
1.14 Financial Instruments 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 assets are recognised in the Charity’s statement of financial position when the Charity becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition.
- 1.14.1 Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Other financial assets classified as fair value through the statement of financial activities are measured at fair value.
A1
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements continued for the year ended 31 March 2024
1. Accounting policies (Continued)
-
1.14.2 Other financial assets
-
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ‘loans and receivables’. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.
-
1.14.3 Impairment of financial assets Financial assets, other than those held at fair value through the statement of financial activities, are assessed for indicators of impairment at each reporting end date.
-
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the statement of financial activities.
-
1.14.4 Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
1.15 Classification of financial liabilities
-
1.15.1 Basic financial liabilities Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Other financial liabilities classified as fair value through the statement of financial activities are measured at fair value.
-
1.15.2 Other financial liabilities Other financial liabilities are initially measured at fair value, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method, with interest expenses recognised on an effective yield basis.
The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability to the net carrying amount on initial recognition.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.
42
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
- Accounting policies
(Continued)
-
1.15.3 Derecognition of financial liabilities Financial liabilities are derecognised when, and only when, the Charity obligations are discharged, cancelled, or they expire.
-
1.16 Finance and operating leases Rentals payable under operating leases are charged to the SOFA over the period in which the cost is incurred. Assets held under finance leases are capitalised and depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Trust will obtain ownership, in which case the depreciation period is the useful life.
-
1.17 Provisions A provision is recognised when the Trust has a legal or constructive obligation as a result of past events and it is probable that an outflow of economic benefits will be required to settle the obligation.
1.18 Taxation policy
- The Charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charitable Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
1.19 Investment Policy
Investments are stated at market value as quoted on the relevant Stock Exchange at the close of business on the last working day before the year end date. Unquoted unit trust investments are stated at the market value as established by the administrators of the unit trust. Market value is determined from the buying and selling price of the underlying securities in the relevant market.
43
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
2. Net income for the financial year
As permitted by section 408 of the Companies Act 2006, the parent Charity’s Statement of Financial Activities has not been included in these financial statements. The parent charity's total incoming resources for the year were £6,806,469 (2023: £10,442,029). The net surplus/(deficit) for the year for the Charity was £67,944 (2023: £3,170,847).
3. Voluntary income
| Unrestricted | Restricted | 2024 Total |
2023 Total |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Donations and sponsorships | 160,875 | 47,477 | 208 352 | 313,220 |
| Legacies | 133,912 | 923 | 134,835 | 640,047 |
| Subscriptions and GiftAid | 1,610,083 | - | 1,610,083 | 1,531,368 |
| Grants received ofa general nature |
99,649 | : | 99,649 | 76,180 |
| Appeals | - | 109,429 | 109,429 | 299,559 |
| 2,004,519 | 157,829 | 2,162,348 | 2,860,374 |
4, Incoming resources from charitable activities
| Unrestricted | Restricted | 2024 Total |
2023 Total |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| RPA Grants received for a specific purpose | 416,628 | - | 416,628 | 412,043 |
| Grants received for a specific purpose | - | 1,129,199 | 1,129,199 | 5,061,534 |
| Service level agreements | 760,256 | 469,413 | 1,229,669 | 1,231,990 |
| Landfill tax credits | - | 985,787 | 985,787 | 18,815 |
| Other income | 560,422 | 280,450 | 840,872 | 849,586 |
| 1,737,306 | 2,864,849 | 4,602,155 | 7,573,968 |
Of the £1,129,199 restricted grants received for a specific purpose: £731,497 (2023: £4,176,370) are derived from government sources
Of the £731,497 shown above, £634,931 (2023: £4,023,342) are derived from the National Lottery Heritage Fund.
Included within Landfill tax credits is a £975,000 award in relation to the purchase of Strawberry Hill Farm received from Landfill Communities Fund.
44
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements continued for the year ended 31 March 2024
| 5, | Interest and Investments | Interest and Investments | Interest and Investments | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted Restricted |
2024 Total |
2023 Total |
|||||
| £ | £ | £ | £ | ||||
| Bank Interest received | 10,343 | 5,249 | 15,592 | 4,674 | |||
| Income from Investments | 72,530 | - | 72,530 | 72,529 | |||
| 82,873 | 5,249 | 88,122 | 77,203 | ||||
| 6. | Total expenditure | ||||||
| Staff | Other direct | Other | Other | 2024 | 2023 | ||
| costs | costs | Support | Governance | ||||
| Costs | Costs | ||||||
| £ | £ | £ | £ | £ | |||
| Fundraising | 706,097 | 404,706 | 142,388 | 11,853 | 1,265,044 | 1,281,898 | |
| Nature reserve | |||||||
| management | 1,773,411 | 1,052,556 | 344,762 | 16,143 | 3,186,872 | 3,273,872 | |
| Wider | |||||||
| countryside | 503,140 | 190,222 | 97,813 | 4,580 | 795,755 | 918,314 | |
| Partnership | |||||||
| projects | 581,617 | 120,283 | 113,070 | 5,294 | 820,264 | 650,796 | |
| Education & | |||||||
| Community | 669,246 | 170,709 | 124,986 | 667 | 965,608 | 996,388 | |
| Rushden | |||||||
| Lakes & | |||||||
| Summer Leys Visitor Centre |
- | 37,147 | 5,119 | 5,425 | 47,691 | 64,884 | |
| 4,233,511 | 1,975,623 | 828,138 | 43,962 | 7,081234 | 7,186,152 |
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Total resources expended are stated after charging | : | ||
| Auditor remuneration - audit |
24,359 | 24,171 | |
| - unrecovered VAT |
1,162 | 1,931 | |
| - other assurance services |
- | = | |
| Depreciation offixed assets | 193,880 | 189,872 | |
| Amortisation of intangible assets | 42,781 | 17,113 | |
| (Profit)/ loss on sale offixed assets | (12,425) | (23,638) | |
| Amountspayableunderoperatingleases | 18,849 | 19,034 |
45
© |
|||||;
:|w|19 2
9
28
So
Ssss
oo) BAS
8
So apes
8
8
g
CN s
S;
:
SoaR
5
8
<
1
‘|
8
is
mi
N|
|---|---|---|---|---|---|---|
||||5
|
ad
e6
E||”||
- “
8
i
+
& 5
a
Nn
=
:
:
"
:
°
5|
|||||F
:
:
:|a|lo ©
bo
NT
ggg
©
reg
o
o
p
s
i
e
:
:
baa
2
a
|S
So
YSEN
B ae
Yeon
3
9 |3
2
rol
oe
~~
|x
.|
|||||c
2
52
5:
:
5
5||SN
5
aS
25%
a
:
:
an
s°
Vou
gs
S
ls
S
rte)
o
2)
ra)
re|
|||||uw
2
:|||
|||||4
nu 9
:
£°
ro|we|aA”
<3
é
8 g88¢
en Roe
:
=
ah Fo
:
a
|e
S
O
cy
-
3
©
|
|
|
|
W”|
||
‘<
SY
:
ot
£Q
on||||:
3
ii
2c
5
8|w|©
ey
Bg
<- fe
=
8
=
oe Fo
2
©
a
i
:
1
)
|
|
3
=)
2
=
:
2°
||
|P|
oO
|
a
:
iE
ae
oT
os
3||||:
»e8
ces
2o2
7H oD
zoe
.|aw|RD
8S Bo 8
Pt eee
:
+
ges
:
3
v
outs
=
E
s|
)
.
:
iF
it
:
:
:|
|a Y¥
=e
os
OL
a)
7
£2
GB 8
a)
eo
22
oo
a
a)
ss
ae
3 =
s
re
g&
es
=o
=e
o2
ie
=2||
|
||0
3
i
t
°
-
7
%
2
Ay
a
2
<
-
M||e
£
s
£
T
c
5
ri||oe
ros
0 ©
$585
;
)
2208
:
—
ew A -
news i
aan ir
¥
=
ls]
c
}
:
|
:
:
oS
:
a
ae
2582 2
:
ERSEEE
Eece &
:
8sezee
:
qare
:
;
bE
ro)©|
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
8. Staff costs
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| The movement in the year is after charging: | ||
| Salaries and wages | 3,549,718 | 3,359,860 |
| Social security costs | 299,009 | 292,901 |
| Other pension costs | 384,784 | 298,577 |
| 4,233,511 | 3,951,338 | |
| Employees and volunteers | ||
| Headcount average number ofemployees: | 137 | 137 |
| The F.T.E. average number ofemployees, | ||
| analysed by function was: | ||
| Nature reserve management | 29 | 31 |
| Wider countryside | 15 | 14 |
| Partnership projects | 4 | 4 |
| Education and Outreach | 21 | 21 |
| Central support services | 14 | 13 |
| Fundraising and donor development | 8 | 7 |
| Marketing and membership services | 7 | 7 |
| Monitoring and Research | 15 | 14 |
| 113 | 111 |
We rely on volunteers to help in all aspects of our work particularly our Trustees and volunteers for practical conservation work, administration and fundraising. Our nature reserve voluntary wardens assist with practical habitat management, monitoring of wildlife and interpretation of the reserves for visitors. Many gather around themselves a team of volunteers to help with this work. Our staff manage teams of volunteers who turn out during the week to carry out practical habitat management and the monitoring and research team are substantially assisted by volunteers who gather, process and present data on the habitats and species that our work conserves.
Members of the Board did not receive any remuneration or benefits in kind during the period. Costs incurred by the Board travelling on Trust business and reimbursed to them amounted to Enil (2023: Enil).
One employee received emoluments of between £80,000 and £90,000 during the year (2023: one between £80,000 and £90,000).
Total remuneration
of key management personnel in the period was £ 383,478 (2023: £311,095).
During the period, 4 employees took voluntary redundancy/ early retirement receiving an aggregate compensation of £85,303 in settlement. As at 31 March 2024, £85,303 was outstanding to be paid.
47
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
9. Pension and other post-retirement benefit commitments
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|Defined|contribution|schemes|£|£|
|Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|344,633|259,595|
----- End of picture text -----
The Trust now operates a single defined contribution pension scheme. The assets of the schemes are held separately from those of the Trust in an independently administered fund. The pension cost charge represents contributions payable by the Trust to the fund and amounted to £344,633 (2023: £259,595) for Royal London. All Contributions due for the year have been accounted for.
Defined benefit scheme
The following employers are the sponsoring employers of a defined benefit pension liabilities held in the Scheme in the UK, which provides retirement benefits based on members’ salary when they left employment. Further Employers may have defined contribution benefits held within the Scheme, but these Employers are not shown here.
» Bedfordshire, Cambridgeshire, Northamptonshire
-
Derbyshire
-
Essex
-
Gloucestershire
» Lancashire
-
Leicestershire and Rutland
-
Leicestershire Wildlife (Sales) Ltd
-
Lincolnshire
-
Nottinghamshire * Scottish * Sheffield and Rotherham
-
RSWT * Worcestershire *» WNCT Enterprises Ltd
The assets of the Scheme are held in a separately administered fund and the Scheme is administered by the Trustees (independent of the Employers) who are responsible for ensuring that the Scheme is sufficiently funded to meet current and future obligations. However, the assets and liabilities are not segregated between the Employers.
The liabilities set out in this note have been calculated based on the results of the Scheme Funding Assessment as at 1 April 2022, updated to 31 March 2024. The present value of the defined benefit obligation was measured using the projected unit credit method.
The Employers have agreed a funding plan with the Trustees, whereby contributions are made into the Scheme in order to remove the funding deficit based on each Employer's share of the total Scheme liabilities, calculated by the Scheme Actuary as at the most recent Scheme, Funding Assessment (currently, 1 April 2022).
48
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
9. Pension and other post-retirement benefit commitments (continued)
The disclosures set out below are based on calculations carried out as at 31 March 2024 by an independent qualified actuary.
The results of the calculations and the assumptions adopted are shown below. All figures in the disclosure are quoted to the nearest £ unless otherwise stated.
| 2024 | 2023 | |
|---|---|---|
| Keyassumptions | % | % |
| Discount rate | 4.85 | 4.68 |
| Expected rate of increase ofpensions in payment* | ||
| Fixed 5% pa | 5.00 | 5.00 |
| RPI max 5% pa | 3.25 | 3.20 |
| Future increases to deferred pensions | 275 | 2.70 |
| Inflation - RPI | 3.40 | 3.42 |
| Inflation - CPI | 2.75 | 2.70 |
| Mortalityassumptions | 2024 | 2023 |
| Assumed life expectations on retirement at age 65: | Years | Years |
| Retiring today | ||
| - Males | 22.3 | 22.5 |
| - Females | 24.8 | 25.0 |
| Retiring in 20 years | ||
| - Males | 23.6 | 23.8 |
| -Females | 26.2 | 26.4 |
- application of fixed or RPI increase depends on date of benefit accrual
49
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
9. Pension and other post-retirement benefit commitments (continued)
| 2024 | 2023 | |
|---|---|---|
| Mortality (before and after retirement) based on | Males: 96% of | Males: 96% ofS3PA |
| 2018 CMI mortality tables | S3PMA | Females: 95% of |
| Females: 95% of | S3PA | |
| S3PFA | CMI_2021 with a long | |
| CMI 2022 with a long | term rate of | |
| term rate of | improvements of | |
| improvements of | 1.25% pa; Initial | |
| 1.25% pa; Initial | addition to mortality | |
| addition to mortality | improvements of | |
| improvements of | 0.5% andw2020 of | |
| 0.5% and w2022 of | 15% | |
| 25% | ||
| Cash commutation | Members assumed to | Members assumed to |
| take 25% of their | take 25% of their | |
| pension as tax free | pension as tax free | |
| cash, subject to | cash, subject to | |
| HMRC restrictions, | HMRC restrictions, | |
| using cash | using cash | |
| commutation factors | commutation factors | |
| currently in force. | currently in force. | |
| 2024 2023 |
||
| Amountsrecognised in the statement offinancial | activities | £ £ |
| Interest on net defined benefit asset | (1,977) (2,061) |
|
| Administration expenses | 19,449 23,831 |
|
| Total recognised in the statement offinancial activities | 17,472 21,770 |
|
| 2024 2023 |
||
| Amounts taken to otherrecognisedgains/losses | £ £ |
|
| Actual return on scheme assets— gains and (losses) | 10,799 (175,490) |
|
| Less: amounts included in net interest on the net | defined benefit | (29,107) (21,103) |
| Return on scheme assets excluding interest income | (18,308) (196,593) |
|
| Actuarial return on scheme liabilities —gains and | (losses) | (753) 141,164 |
| Re-measurementgain/(loss)recognised | (19,061) (55,429) |
50
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|9.|Pension|and|other|post-retirement|benefit|commitments|
|(continued)|
|2024|2023|
|£|£|
|Fair|value|of Scheme|assets|627,977|628,143|
|Present|value|of defined|benefit|obligations|(592,349)|(596,133)|
|Defined|benefit|asset/(liability)|recognised|in|balance|sheet|35,628|32,010|
----- End of picture text -----
The asset has not been recognised in the accounts on the grounds that the asset is not expected to be recovered.
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Present value|of defined|benefit|obligation|at|beginning|of|period|596,133|742,396|
|Benefits|paid|including|expenses|(31,667)|(47,972)|
|Actuarial|gains|and|losses|753|(141,164)|
|Administration|costs|-|23,831|
|Interest|cost|27,130|19,042|
|Present value|of defined|benefit obligation|at end|of period|~|592,349|~|596,133|
|2024|2023|
|£|£|
|Fair|value|of assets|at|beginning|of|period|628,143|812,624|
|Interest|income|29,107|21,103|
|Return|on|plan|assets|(excluding|amounts|included|in|net|interest)|(18,308)|(196,593)|
|Benefits|paid|including|expenses|(31,667)|(47,972)|
|Contributions|by|the|employer|40,151|38,981|
|Administration|costs|(19,449)|=|
|Fair|value|of assets|at|end|of|period|627,977|628,143|
----- End of picture text -----
51
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
9 Pension and other post-retirement benefit commitments (continued)
| 2024 | 2023 | |
|---|---|---|
| % | % | |
| UK Equities | 0.0 | 0.0 |
| Overseas Equities | 24.9 | 24.6 |
| Diversified Growth Funds | 0.0 | 0.0 |
| UK Government Fixed Interest Bonds | 11.3 | 7.5 |
| UK Government Index Linked Bonds | 8.8 | 15.7 |
| UK Corporate Bonds | 33.6 | 30.1 |
| Property | 0 | 2.8 |
| Cash | 2.9 | 1.2 |
| LDI | 18.5 | 18.1 |
| 100.0 | 100.0 |
The expected employer contribution for 2025 is £41,347.
52
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont:) for the year ended 31 March 2024
| 10. Heritage |
assets | |||||
|---|---|---|---|---|---|---|
| Five yearsummary | of heritage | asset transactions | ||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||
| £ | £ | |||||
| Cost brought forward |
18,362,914 | 14,065,414 | 14,043,269 | 13,956,559 | 13,906,559 | |
| voor» | 182,984 | 4,297,500 | 22,145 | 86,710 | 50,000 | |
| Gifts in year | - | - | - | - | . | |
| Transfer from | ||||||
| land in tenure | ||||||
| ” | ” | ° | . | ° | ||
| and freehold | ||||||
| property | ||||||
| Disposals | (400) | - | - | - | _ | |
| Cost carried | ||||||
| forward | 18,545,498 | 18,362,914 | 14,065,414 | 14,043,269 | 13,956,559 |
It is not practical to separately identify the amount spent on maintaining these assets as it is so integral to the general work of the Trust. There are two classes of heritage asset, included in the above, one which consists of land purchased and held as a nature reserve and one which consists of a building of heritage importance.
Purchases in the five years above are valued at purchase price in accordance with the Trust's accounting policy (see accounting policy 1.9). This includes any legal costs in relation to the land purchase.
Any heritage assets donated in the period have been reflected in the balance sheet in reference to the market value on the date of the donation.
11. Intangible assets
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Intangible assets at 1 April 2023 | 42,781 | 59,894 |
| Amortisation ofBPS Entitlements | (14,260) | (17,113) |
| Write off BPS Entitlements | (28,521) | - |
| TotalIntangibleassets31March2024 | - | 42,781 |
Historically the useful life of the Basic Scheme Payments entitlements was deemed to be until the end of 2027, however on 15 May 2023 the Government introduced the delinked scheme, which is no longer based on the ownership of the entitlements. This therefore meant that the value of the entitlements was deemed to be £nil. Amortisation has been included to write off the cost brought caried Forward.
53
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
12. Associated Undertakings
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| As at 1 April 2023 | 521,759 | - |
| Purchase ofassociated undertaking | - | 500,000 |
| Share of Profit | 35,616 | 21,759 |
| Distribution of profits | (10,000) | - |
| Impairment loss | (47,375) | - |
| Asat31March2024 | 500,000 | 521,759 |
On the 15 September 2022 the group purchased a 50% stake in Muchwood Green Burials Limited of 88 High Street, Ramsey, Huntingdon, United Kingdom, PE26 1BS, Company number 13352244 whose principal activity is the provision of green burials.
13. Stock
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Consolidated | ||
| Stock as at 1 April b/fwd | 61,743 | 70,126 |
| Movements in year Increase/(decrease) | 8,692 | (8,383) |
| Total as at 31 March 2024 | 70,435 | 61,743 |
| Charity | ||
| Stock as at 1 April b/fwd | 40,203 | 43,801 |
| Movements in year Increase/(decrease) | 11,800 | (3,598) |
| Total as at 31 March 2024 | 52,003 | 40,203 |
| Debtors | ||
| 2024 | 2023 | |
| Group | £ | £ |
| Trade debtors | 454,756 | 457,963 |
| Prepayments and accrued income | 2,426,287 | 1,079,229 |
| Other Debtors | 6,777 | 6,127 |
| 2,887,820 | 1,543,319 | |
| Charity | ||
| Trade debtors | 454,756 | 457,963 |
| Prepayments and accrued income | 2,425,793 | 1,078,229 |
| Other Debtors | 6,777 | 6,127 |
| 2,887,326 | 1,542,319 |
14, Debtors
Prepayments and accrued income include £975,000 held by our solicitors ready for the purchase of 70 hectares of land at Strawberry Hill and £400,000 relating to the Trumpington Medows deal.
54
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
15. Investments
| Group | |||
|---|---|---|---|
| 2024 | 2023 | ||
| Quoted Investments | £ | £ | |
| Market Value at 1 April 2023 | 2,662,282 | 2,847,370 | |
| Additions | - | - | |
| Disposals | - | - | |
| Unrealised gain/(loss) on investments | 211,450 | (185,088) | |
| Market value at 31 March 2024 | 2,873,732 | 2,662,282 | |
| All investments are held primarily to provide an investment return | forthe charity. | ||
| Geographical Analysis | 2024 | 2023 | |
| £ | £ | ||
| United Kingdom | 693,263 | 1,068,906 | |
| North America | 1,426,798 | 889,202 | |
| Europe | 345,193 | 282,202 | |
| Global Pacific |
138,077 71,915 |
248,923 74,544 |
|
| Emerging Markets | 97,805 | 47,921 | |
| Japan | 100,681 | 50,584 | |
| 2,873,732 | 2,662,282 | ||
| Total Investment | 2024 | 2023 | |
| £ | £ | ||
| Quoted Investments | 2,873,732 | 2,662,282 | |
| Liquid Assets | 486,332 | 463,410 | |
| Investments at 31 March 2024 | 3,360,064 | 3,125,692 | |
| Charity | |||
| Equities | Subsidiary | Total | |
| undertaking | |||
| £ | £ | £ | |
| Balance at 1 April 2023 | 2,662,282 | 1 | 2,662,283 |
| Additions / Withdrawals | - | - | - |
| Gain/(losses) during year | 211,450 | - | 211,450 |
| Cash on deposit | - | - | - |
| Marketvalueat31March2024 | 2,873,732 | 1 | 2,873,733 |
The investment in the subsidiary undertaking represents 100% of the ordinary share capital of WTBCN Trading Limited, being a trading company incorporated in England and Wales.
55
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
| 16. | Creditors: Amounts falling due within one year | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Group | |||
| Trade creditors | 320,990 | 427,529 | |
| Taxation and social security | 121,815 | 127,219 | |
| Other creditors | 15,017 | 29,922 | |
| Obligations under hire purchase agreements | - | - | |
| Accruals and deferred income | 571,960 | 145,297 | |
| 2 year loan at 2.5% interest | 25,625 | - | |
| 1,055,407 | 729,967 | ||
| Charity | |||
| Trade creditors | 315,961 | 423,638 | |
| Taxation and social security | 121,543 | 126,687 | |
| Other creditors | 15,017 | 29,922 | |
| Obligations under hire purchase agreements | - | - | |
| Accruals and deferred income | 566,561 | 140,236 | |
| 2 year loan at2.5% interest | 25.625 | - | |
| 17. | Creditors: Amounts falling due after more than oneyear | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Group | |||
| Deferred income (Luton Guided Busway) | 286,239 | 318,043 | |
| Deferred income (BPS Entitlements) | - | 28,521 | |
| Obligations under hire purchase agreements | - | - | |
| 2 year loan at 2.5% interest | 25,000 | - | |
| 311,239 | 346,564 | ||
| Charity | |||
| Deferred income (Luton Guided Busway) | 286,239 | 318,043 | |
| Deferred income (BPS Entitlements) | - | 28,521 | |
| Obligations under hire purchase agreements | - | - | |
| 2 year loan at 2.5% interest | 25,000 | - | |
| 311,239 | 346,564 | ||
| Group Deferred income analysis | |||
| In more than one year but notmore than two years | 53,623 | 43,212 | |
| In more than two years but not more than five years | 69,814 | 115,550 | |
| In more than five years | 187,802 | 187,802 | |
| 311,239 | 346,564 |
56
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
----- Start of picture text -----
18. Provisions for liabilities and charges 2024 2023
£ £
Provisions for liabilities and charges as at 1 April 2023 47,244 52,722
Provision for clawbacks of BPS and HLS income accrued
in year ended 31 March 2024 (6,202) (5,478)
RSWT Pension scheme liability provision - -
Provision for liabilities and charges as at 31 March 41,042 47,244
2024 ———
19. Restricted income funds
These funds have been set aside for specific projects. These projects may arise out of the Trust’s
ongoing activities, or the Trust may be asked to carry out a specific task. Either way, at some
stage in the project, grants and donations will have been received specific to that project.
Therefore once a project is commenced any funds committed to it are restricted to that fund. It is
anticipated that these funds will be used over the coming months and years as the expenditure
for which these funds were raised is incurred. There are therefore many small funds and for the
purposes of statutory reporting these have been grouped together under 5 main headings.
Balance at ___In- Out-goings Transfers Gains/ Balance at
31 March comings (to)/from _ losses & 31 March
2023 Unres- Transfers 2024
tricted
£ £ £ £ £ £
aan PUIEHESS 19,824,648 95,149 19,919,797
Great Fen 419,326 680,754 (261,222) (160,641) (228,194) 450,023
autonusway Guided 370,035 40,587 — (23,337) ~—=— (2,980) - 384,305
Highways
England
. 17,485 (14,830) (2,655) - -
Network for
Nature Grant
Other
Restricted 1,768,148 2,289,101 (1,277,868) (148,037) 132,645 2,763,989
Funds
22,382,157 3,027,927 (1,577,257) (314,313) (400) 23,518,114
----- End of picture text -----
Transfers out of restricted funds have been made to cover costs initially accounted for as unrestricted, for example staff time, and where the project has been completed and no funding is required to be returned to the funders. Transfers into the funds are made when the project has been completed and the shortfall on funding is made up from the charity's unrestricted funds.
The amounts remaining unspent on the Luton Guided Busway project consists of £384,305 restricted funds and £318,044 of deferred income makinga total of £702,349.
57
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
| 20. | Unrestricted income funds | Unrestricted income funds | Unrestricted income funds | ||||
|---|---|---|---|---|---|---|---|
| Balance at _ 31 March 2023 |
In- comings |
Out- goings |
‘Transfers (to)/from Restricted |
Gains/ losses & Transfers |
Balance at 31 March 2024 |
||
| £ | £ | £ | £ | £ | £ | ||
| Group | |||||||
| General Funds | 3,923,397 | 3,860,314 | (5,380,699) | 314,313 | 1,206,071 | 3,923,396 | |
| Designated Funds: | |||||||
| Land Purchase | and | 759,989 | . | (57,825) | - | (24,246) | 677,918 |
| Improvement | |||||||
| Education New Projects |
319,205 301,125 |
- - |
(62,767) (2,686) |
- - |
- - |
256,438 298,439 |
|
| Resilience | 1,168,569 2,548,888 |
- - |
(123,278) | - - |
(933,781) (958,027) |
234,788 1,467,583 |
|
| 6,472,285 | 3,860,314 | (5,503,977) | 314,313 | 248,044 | 5,390,979 | ||
| Charity | |||||||
| General Funds | 3,930,008 | 3,778,541 | (5,285,634) | 314,313 | 1,206,071 | 3,943,299 | |
| Designated Funds: | |||||||
| Land Purchase | and | 759,989 | - | (57,825) | - | (24,246) | 677,918 |
| Improvement | |||||||
| Education New Projects |
319,205 301,125 |
. - |
(62,767) (2,686) |
- - |
- - |
256,438 298,439 |
|
| Resilience | 1,168,569 2,548,888 |
- - |
(123,278) | - - |
(933,781) (958,027) |
234,788 1,467,583 |
|
| 6,478,896 | 3,778,541 | (5,408,912) | 314,313 | 248,044 | 5,410,882 |
Designated Funds
The Land Purchase and Improvement fund is to purchase land and bring new or existing land up to nature reserve standard and deliver infrastructure for visitors.
The Education Fund is to support education projects, such as Forest Schools, and provide expenses to interns and secondments.
The New Projects Fund is to provide seed corn funding for new activities. It can also be used to provide loans to the Subsidiary Company for income generating projects.
The Resilience Fund to support the Charity through the current economic crisis. High prices and rising salary costs have not only affected the Trust but also its members contributions and sources of funds.
58
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
| 21. Analysis of net assets between |
21. Analysis of net assets between |
funds | ||
|---|---|---|---|---|
| ~~: snrestricted Funds —SRRestrictedFund: — Total Funds |
||||
| Group | General £ |
Designated £ |
£ | £ |
| Freehold Property | 1,019,739 | - | - | 1,019,739 |
| Land in Tenure | - | 2,169,148 | 2,169,148 | |
| Other fixed assets | 148,901 | 183,908 | 803,340 | 1,136,149 |
| Heritage assets | 772,741 | 22,145 | 17,750,612 | 18,545,498 |
| Investment in associated companies |
500,000 | - | - | 500,000 |
| Intangible fixed assets | = | . | - | . |
| Loan to associated organisation: | 10,000 | - | - | 10,000 |
| Stock and work in progress | 70,435 | Me | - | 70,435 |
| Debtors | 920,833 | 452,066 | 1,514,921 | 2887,820 |
| Quoted Investments | 1,034,749 | 2,325,315 | - | 3,360,064 |
| Cash at bank and in hand including short-term investments |
(9,071) | (1,141,696) | 1,768,695 | 617,928 |
| Current liabilities | (478,889) | (374,155) | (202,363) | (1,055,407) |
| Creditors due after more than oneyear |
(25,000) | - | (286,239) | (311,239) |
| Provision for liabilities & charges | (41,042) | = | = | (41,042) |
| Total net assets | 3,923,396 | 1,467,583 | 23,518,114 | 28,909,093 |
| Unrestricted Funds | Restricted Fund: | Total Funds | ||
| Charity | General £ |
Designated £ |
£ | £ |
| Freehold Property | 1,019,739 | - | - | 1,019,739 |
| Land in Tenure | - | 2,169,148 | 2,169,148 | |
| Otherfixed assets | 148,901 | 183,908 | 803,340 | 1,136,149 |
| Heritage assets | 772,741 | 22,145 | 17,750,612 | 18,545,498 |
| Intangible fixed assets | _ | 2 | . | - |
| Loan to associated organisation: | 542,500 | - | - | 542,500 |
| Stock and work in progress | 52,003 | - | - | 52,003 |
| Debtors | 920,339 | 452,066 | 1,514,921 | 2,887,326 |
| intercompany Debtor | 110,609 | - | - | 110,609 |
| Quoted Investments | 1,034,749 | 2,325,315 | . | 3,360,064 |
| Cash at bank and in hand including short-term investments |
(124,052) | (1,141,696) | 1,768,695 | 502,947 |
| Current liabilities | (468,188) | (374,155) | (202,363) | (1,044,706) |
| Creditors due after more than one year |
(25,000) | - | (286,239) | (311,239) |
| Loans and provision for liabilities &charges |
(41,042) | - | . | (41,042) |
| Totalnetassets | 3,943,299 | 1,467,583 | 23,518,114 | 28,928,996 |
59
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
22. Contingent liabilities
Included within restricted funds are grants received towards specific projects. The terms and conditions attaching to some of these grants provide for funds to be clawed back by the grant making body in the event of specific project underspends or a default by the company in respect of other terms and conditions which may apply.
No circumstances giving rise to a claw-back of restricted funds held at 31 March 2024 have been identified, but the company remains contingently liable in this respect. It is not possible to quantify the extent of any potential liability which existed at that date.
23. Financial commitments — operating leases
At 31 March 2024 the company was committed to making the following payments under noncancellable operating leases:
| Land and | buildings | Other | ||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Operating leases which | ||||
| expire: | ||||
| Within one year | 16,980 | 16,980 | 1,869 | 2,054 |
| Between two and five years | 42,000 | 42,000 | - | 1,997 |
| In over five years | 756,000 | 766,500 | - | - |
| 814,980 | 825,480 | 1,869 | 4,051 |
The Trust has a 100 year lease, commenced in March 2001, for Lings House and Woods. Currently it receives an annual amount, equivalent to the annual rental, from Northampton Borough Council of £10,500 via a service level agreement; this agreement was extended to 2025.
24, Financial commitments — finance leases
The company has no obligation under Finance leases in the year to 31 March 2024 (2023: Eni).
60
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
25. Related party transactions
At the year-end the Charity was owed £653,109 (2023: £641,676) from WTBCN Trading Limited, a wholly owned subsidiary of the Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
At the year-end the WTBCN Trading Ltd was owed £10,000 from Muchwood Green Burials Limited an associated company.
No Trustee nor any person connected with them received any remuneration during the year (2023 - Enil). During the year no Trustees were reimbursed travel expenses (2023 - Enil).
26. Landfill tax credits
Receipts from landfill operators are shown as trust income net of the 2% ENTRUST administration charge. Where the Trust receives funds from an environmental body, the 2% is not payable but the Trust remains accountable to ENTRUST for the proper use of the funds.
- Reconciliation of net income/(expenditure) to net cash flow from operating activities
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net income forthe reporting period (as perthe | |||
| statement offinancial activities before interest & | (268,690) | 3,293,587 | |
| investment income) | |||
| Depreciation oftangible assets | 193,880 | 189,872 | |
| Amortisation and write off intangible assets | 42,781 | 17,114 | |
| Share of profit in associated undertakings | (35,616) | (21,759) | |
| Reduction in fair value ofassociated undertakings | 47,375 | - | |
| Luton Guided Busway | (31,804) | (35,338) | |
| Basic Payments Scheme | (28,521) | (14,260) | |
| (Profit)/losson disposaloftangible assets reclassification to investing activities |
(12,425) | (23,638) | |
| (Increase)/Decrease in stock | (8,692) | 8,383 | |
| (Increase)/Decrease in debtors | (1,344,501) | 1,546,028 | |
| (Decrease)/increase in creditors within 1 year | 299,815 | 53,555 | |
| (Decrease)/increase in Provision for liabilities and charges |
(6,202) | (5,478) | |
| Net cash inflow from operating activity | (1,152,600) | 5,008,066 | |
| 28. | Analysis ofcash and cash equivalents | ||
| 2024 | 2023 | ||
| £ | |||
| Cash in hand | 350,645 | 328,697 | |
| Deposits on less than 3 months’ notice | 267,283 | 1,757,282 | |
| 617,928 | 2,085,979 |
61
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
29. Transfer between funds
Every year a transfer is made between restricted and unrestricted funds to cover restricted costs that have been paid for out of unrestricted funds.
30. Subsidiary company
WTBCN Trading Ltd, Manor House, Broad Street, Great Cambourne, Cambs CB23 6DH company number: 11098048.
The turnover of WT BCN Trading Limited amounted to £56,156, (2023: £69,517) and the net profit arising is £8,466 (2023: £4,633 net profit). The expenditure incurred is £47,690 (2023: £64,884). The aggregate amount of its assets, liabilities and funds at 31 March 2024 was (£19,904) (2023: (£28,369)).
31, Analysis of Debt/Funds
| Analysis of net | ||||
|---|---|---|---|---|
| (debt/funds) | ||||
| 1 April | Cash flow | Othernon-cash | 31 March | |
| 2023 | changes | 2024 | ||
| Net cash: | ||||
| Cash at bank andinhand | 2,085,979 | (1,468,051) | - | 617,928 |
| Add: Liquid resources | ||||
| Current asset investments | 3,125,692 | (847) | 235,219 | 3,360,064 |
| 5,211,671 | (1,468,898) | 235,219 | 3,977,992 | |
| Less: Debt | ||||
| Debts falling due within | - | (25,625) | - | (25,625) |
| one year | ||||
| Debts falling due afterone | - | (25,000) | - | (25,000) |
| year | a | |||
| Netfunds | 5,211,671 | (1,519,523) | 235,219 | 3,927,367 |
62
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire
Notes to the financial statements (cont.) for the year ended 31 March 2024
- Comparative Information — Statement of Financial Activities (incorporating the income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2023 | 2022 | ||||
| Notes | £ | £ | £ | £ | |
| Income and endowments from: | |||||
| Voluntary Income | 3 | 2,369,631 | 490,743 | 2,860,374 | 3,963,700 |
| Charitable activities | 4 | 1,239,862 | 6,334,106 | 7,573,968 | 3,094,164 |
| Interest & Investments | 5 | 76,483 | 720 | 77,203 | 75,063 |
| Government Grant | = | 2 | * | 3,935 | |
| Income from interests in | |||||
| associated undertakings | 12 | 21,759 | - | 21,759 | - |
| 3,707,735 | 6,825,569 | 10,533,304 | 7,136,862 | ||
| Expenditure on: | |||||
| Raising Funds | 1,281,898 | 1,281,898 | 1,077,556 | ||
| Charitable activities | 3,877,187 | 2,027,067 | 5,904,254 | 4,760,399 | |
| Total | 6 | 5,159,085 | 2,027 ,067 | 7,186,152 | 5,837,955 |
| Profit/(loss) on disposal offixed assets |
- | 23,638 | 23,638 | 1,000 | |
| Net income/(expenditure) | (1,451,350) | 4,822,140 | 3,370,790 | 1,299,907 | |
| Transfers between funds | 19/20 | 444,980 | (444,980) | - | - |
| Net (outgoings)/ incoming | |||||
| resources before other | |||||
| recognised gains & losses | (1,006,370) | 4,377,160 | 3,370,790 | 1,299,907 | |
| Other recognised | |||||
| gains/(losses): Unrealised gain/(loss) on |
(173,551) | - | (173,551) | 68,828 | |
| investments | |||||
| Actuarial gains on defined benefit | - | - | - | 62,316 | |
| pension scheme | |||||
| Netmovement in funds | (1,179,921) | 4,377,160 | 3,197,239 | 1,431,051 | |
| Reconciliation of funds: | |||||
| Total funds broughtforward | 7,652,206 | 18,004,997 | 25,657,203 | 24,226,152 | |
| Totalfundscarriedforward | 21 | 6,472,285 | 22,382,157 | 28,854,442 | 25,657,203 |
63
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
| 33. | Comparative Information - Total | Comparative Information - Total | Comparative Information - Total | expenditure | FORTHEYEARENDED | ENDED 31 MARCH 2023 | ENDED 31 MARCH 2023 |
|---|---|---|---|---|---|---|---|
| Staff | Other | Other | Other | 2023 | 2022 | ||
| costs | direct | Support | Governance | ||||
| costs | Costs | Costs | |||||
| £ | £ | £ | £ | £ | |||
| Fundraising | 655,896 | 490,339 | 125,429 | 10,234 | 1,281,898 | 1,077,556 | |
| Nature reserve | |||||||
| management | 1,621,442 | 1,367,387 | 270,484 | 14,559 | 3,273,872 | 2,623,323 | |
| Winer[eeunuyside | 509,492 | 319,255 | 84,992 | 4,575 | 918,314 | 815,640 | |
| Partnership | |||||||
| projects | 477,003 | 89,938 | 79,572 | 4,283 | 650,796 | 578,068 | |
| Education & | |||||||
| Community | 687,505 | 208 382 | 98,673 | 1,828 | 996,388 | 698,607 | |
| Rushden Lakes & | |||||||
| Summer Leys | |||||||
| Visitor Centre | - | 44,524 | 16,015 | 4,345 | 64,884 | 44,761 | |
| 3,951,338 | 2,519,825 | 675,165 | 39,824 | 7,186,152 | 5,837,955 |
64
re
|||£
°
3|al|reSs =
25 88
25 oars
ae er
Sees
So
:
=|Qo
oF
~
N
s
@
-|Qo
oF
~
N
s
@
-|fe)
|s
|
.
2||
|---|---|---|---|---|---|---|---|---|
||||
os
’
;|)|Lo
cS
;
7
:|7||;||
|||wy
an
6|"|oN
ek
8
25
88
No fee2
oles
_
||:
:
|
|
.||,
|
.||
||N
SI
=x
Ma
<
Ss|©
>
6
=
i
5
gee
wi
5
°
3)|.|a8
a.
ho Bee
8s
~
||i
-
‘i
|
|
|
|||||
||<=
©
2
ae
z
ee
Ww
@
a||:|-
-
°
- Ses
|
;
$ETO|:
|
|||
|||
|
6|:
oO|
|=
0
c
,
£
at
£3S
(on)
|
38
cs
==
|
:
By
55
=
6|<
wi
f
:
&
2
:
g
°
£
2
B
‘5
w”
a
E
:|=o
‘
z
3
:
,
,
|
eet
zi
Boe
'
:
:
:
,|
al|i
Se
ee
acd
-
-
gee
,
3
-
, ‘
ae 229
.
S888
a
oe
©
“
/
-|:
o
|
a
g
+
ES
:
i
|
|
;||
iD
;
v
B
8
|
|||
MN
£
©
”
Ww
‘5
|
:
|
°
e
2
st
fo
|
|
|
|
’||
||||||;|||||
||E||||||||
|||z|||||||
|2 2|€|||||||>|
||g||||||||
|a
S&
a
Cis
Ea
Se
coe
Sa
=5
= 2
(+b)2s
Z|4
£
:
:
4
;
i:
:|||:
|
,
ee:
£
23
oO
2
8
pgeee
Baas
525 5
afTe
Ee||:
:
:
5
[o)
Oo||:
:
,
|
:
<|
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
35. Comparative Information - Unrestricted income funds FOR THE YEAR ENDED 31 MARCH 2023
| Balance at | _In- | Out- | Transfers | Gains/ | Balance at | |
|---|---|---|---|---|---|---|
| 31 March 2022 |
comings | goings | (to)/from Restricted |
losses & Transfers |
31 March 2023 |
|
| £ | £ | £ | £ | £ | £ | |
| Group | ||||||
| General Funds | 3,927,637 | 3,541,735 | (4,845,853) | 444,980 | 854,898 | 3,923,397 |
| Designated Funds: Land Purchase and |
846,789 | (86,800) | 759,989 | |||
| Improvement Education New Projects |
403,045 443,717 |
(83,840) (142,592) |
319,205 301,125 |
|||
| Sustainability Wild about Inclusion |
290,000 280,000 |
(290,000) (280,000) |
- - |
|||
| Resilience Inflationary Pressure on |
1,361,018 100,000 |
166,000 | (358,449) (100,000) |
1,168,569 - |
||
| Restricted Projects | ||||||
| 3,724,569 | 166,000 | (313,232) | - | (1,028,449) | 2,548,888 | |
| 7,652,206 | 3,707,735 | (5,159,085) | 444,980 | (173,551) | 6,472,285 | |
| Charity | ||||||
| General Funds | 3,960,640 | 3,450,459 | (4,780,969) | 444,980 | 854,898 | 3,930,008 |
| Designated Funds: Land Purchase and |
846,789 | (86,800) | 759,989 | |||
| Improvement Education New Projects |
403,045 443,717 |
(83,840) (142,592) |
319,205 301,125 |
|||
| Sustainability Wild about Inclusion |
290,000 280,000 |
(290,000) (280,000) |
- - |
|||
| Resilience Inflationary Pressure on |
1,361,018 100,000 |
166,000 | (358,449) (100,000) |
1,168,569 - |
||
| Restricted Projects | ||||||
| 3,724,569 | 166,000 | (313,232) | - | (1,028,449) | 2,548,888 | |
| 7,685,209 | 3,616,459 | (5,094,201) | 444,980 | (173,551) | 6,478,896 |
66
The Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire Notes to the financial statements (cont.) for the year ended 31 March 2024
| 36. Comparative Information -Analysis |
36. Comparative Information -Analysis |
36. Comparative Information -Analysis |
36. Comparative Information -Analysis |
ofnetassets | betweenfunds FORTHEYEARENDED | betweenfunds FORTHEYEARENDED |
|---|---|---|---|---|---|---|
| 31 MARCH 2023 | ||||||
| Unrestricted Funds —«sRestrictedFund:=Total Funds" |
||||||
| Group | General £ |
Designated £ |
£ | £ | ||
| Freehold Property | 1,032,566 | - | - | 1,032,566 | ||
| Land in Tenure | - | - | 2,169,148 | 2,169,148 | ||
| Other fixed assets | 144,797 | 199,635 | 677,884 | 1,022,316 | ||
| Heritage assets | 685,306 | 22,145 | 17,655,463 | 18,362,914 | ||
| Investment in associated | companies | 521,759 | 521,759 | |||
| Intangible fixed assets | 42,781 | - | - | 42,781 | ||
| Loan to associated organisations | 10,000 | = | - | 10,000 | ||
| Stock and work in progress | 61,743 | “ | - | 61,743 | ||
| Debtors | 863,026 | 56,879 | 623,414 | 1,543,319 | ||
| Quoted Investments | 800,378 | 2,325,314 | - | 3,125,692 | ||
| Cash at bank and in hand including short-term investments |
183,383 | - | 1,902,596 | 2,085,979 | ||
| Current liabilities | (346,577) | (55,085) | (328,305) | (729,967) | ||
| Creditors d ft ree ors dueaftermore |
th | thanone | (28,521) | ; | (318,043) | (346,564) |
| Provision for liabilities and charges | (47,244) | - | - | (47,244) | ||
| Total net assets | 3,923,397 | 2,548,888 | 22,382,157 | 28,854,442 | ||
| Unrestricted Funds | Restricted Fund: | Total Funds | ||||
| Charity | General £ |
Designated £ |
£ | £ | ||
| Freehold Property | 1,032,566 | 1,032,566 | ||||
| Land in Tenure | - | 2,169,148 | 2,169,148 | |||
| Other fixed assets | 144,797 | 199,635 | 677,884 | 1,022,316 | ||
| Heritage assets | 685,306 | 22,145 | 17,655,463 | 18,362,914 | ||
| Intangible fixed assets | 42,782 | - | - | 42,782 | ||
| Loan to associated organisations | 542,500 | = | - | 542 500 | ||
| Stock and work in progress | 40,203 | - | - | 40,203 | ||
| Debtors | 862,026 | 56,879 | 623,414 | 1,542,319 | ||
| Intercompany Debtor | 99,176 | - | - | 99,176 | ||
| Quoted Investments | 800,378 | 2,325,314 | - | 3,125,692 | ||
| Cash at bank and in hand including ontiarmninvestnents |
93,132 | 0 | 1,902,596 | 1,995,728 | ||
| Current liabilities | (337,093) | (55,085) | (328,305) | (720,483) | ||
| Creditors d ft oer ors due aftermore |
th | thanone | (28,521) | (318,043) | (346,564) | |
| Provision for liabilities and | charges | (47,244) | - | - | (47,244) | |
| Totalnetassets | 3,930,008 | 2,548,888 | 22,382,157 | 28,861,053 |
67