2020-12-31-accounts

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ANNUAL REPORT

& FINANCIAL STATEMENTS 31 December 2020

Registered company no: 02552942

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World Land Trust © Natalie Singleton
Year ended 31 December 2020
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Foreword	1
WLT’s year of impact in numbers	3
Report of the Trustees	4
Reference and administration details	24
Independent Auditor’s Report to the members of World Land Trust	26
��	30
Summary income and expenditure account	31
Group and charity balance sheets	32
��	33
Notes to the accounts	34
List of Council members	57
List of project partners	58

worldlandtrust.org

Foreword

Report from our Chair

The year 2020 was like no other. As the COVID-19 �� the challenges of home schooling, caring for others and getting their work done. Across the world, in South and Central America, Africa, Asia and Eastern Europe our partners‘ work on the ground was disrupted too. And for a while, understandably, the input of donations was much reduced.

But those are just the biggest and most eyecatching projects. WLT continues to support our partners with funding for many smaller land purchases, habitat restoration work and a growing number of rangers on the ground.

These successes were only made possible by the incredible generosity of WLT supporters. Last year, �� our WLT Friends programme, as well as new major corporate supporters. We thank you all.

��

was swiftly followed by the realisation that our �� reported that WLT had raised £5.6 million in 2019 – the highest total in the charity’s history – and today I am happy to tell you that in 2020 we broke that record by raising £7.1 million, a new all-time record.

Higher income translated into higher impact for �� and manatee habitat in Colombia and a further £100,000 to safeguard a forest corridor for Critically Endangered gorillas in Cameroon.

�� crises throughout 2021 – and WLT aims to continue ��

��

�� our donors and other supporters, our partner organisations and for the world. I am pleased to �� team spirit. Let’s see what 2021 has in store for us!

��

the Chocó campaign. Thanks to the staggering response to our Big Match Fortnight (BMF), the �� 2020) to reach its original £500,000 target – one of the fastest BMF raises in WLT’s history – and went ��

Dr Mark Avery, Chair

worldlandtrust.org 1

Foreword (cont’d)

Report from our CEO

��

Last year donations to WLT funded the protection �� 2e in �� the direct protection of a Cyprus-sized expanse of �� 2��

�� impact that WLT supporters are making through us. Because WLT and its partners prioritise strategically �� our partners to connect more than 20,000,000 acres �� the size of Scotland.

�� shows the resilience and commitment of all the people who make our work possible. I think of the donors who enabled us, despite the hardships faced by so many, to reach – and exceed – our appeal targets so swiftly: the marathon runners, the artists, ��

raising funds so that our partners can keep habitats �� and Communications people who last year ensured �� to a new reality of remote working.

�� reinforced by the new organisations in America and Africa we welcomed to the WLT fold in 2020. The last year piled unimaginable pressure on the men and women who protect habitats with support from WLT. But they all – especially the tireless rangers on �� endangered species were kept safe, and catastrophic �� to continue to support such crucial work to protect the nature-based solutions that help address the �� a critical year for summits where global leaders must agree exactly how we will meet these challenges, and ��

�� to meet many of the incredible people who make this work happen on the ground. The passion and professionalism of these partners, combined with �� me enormous hope that together we will continue to grow WLT’s impact in 2021, and beyond.

Dr Jonathan Barnard, CEO

World Land Trust

2 Year ended 31 December 2020

A year of conservation milestones

Impact of WLT’s programmes in 2020

worldlandtrust.org 3

The Trustees present their annual Trustees’ Report �� of the charity and its subsidiaries for the year ended 31 December 2020, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The

�� 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended ��

��

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Report of the Trustees
Activities and achievements in 2020
Land acquisition
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Land acquisition

�� to many threats and pressures, land acquisition �� partners, funding the protection and sustainable management of habitats and their wildlife. As land prices increase, and opportunities arise in countries where land purchase is not possible, this �� mechanisms to ensure long-term protection.

2020) to reach its original £500,000 target, going on to raise a total of £925,000 from supporters in the �� dollars will allow WLT partner Fundación Jocotoco to �� was not included in WLT’s 2020 count as the land purchase process remains underway.

Major appeals aside, partner land purchases and declarations in 2020 were funded through WLT programmes including Buy an Acre (which �� and Ecuador), Action Fund (Colombia, Ecuador, �� and music band Nightwish (Mexico). Meanwhile, years of support from Carbon Balanced donors ��

During 2020, WLT helped to safeguard a total of �� partner projects in Brazil, Colombia, Ecuador, �� acres added in 2020 mean that as of the end of last year, donations since we were founded had helped �� between the funding of outright land purchases �� (1,906,670 acres or 771,602 ha).

�� Forests and Wetlands’, a £295,000 campaign launched in February that allowed WLT partner �� habitat in Colombia. WLT’s following appeal – ‘A Future for Gorillas’ – reached its £100,000 target later in the year, allowing WLT partner ERuDeF to start a three-year process to create two (12,355 ��

The raising of £925,000 by WLT’s Save the Chocó appeal, nearly twice the original target, handed a lifeline to forests home to endangered Jaguar populations.

��

worldlandtrust.org 5

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Report of the Trustees
Reforestation
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Reforestation

Reserve management

�� includes funding for a ranger for a minimum of three years after acquisition and during 2020, our ��

In 2020, donations from WLT supporters to our �� acres of habitat. 2020’s tree planting means WLT had, as of the end of December 2020, funded throughout its entire history a total of 2,292,361 �� and beyond.

�� threatened habitats and the life in them. In Armenia, �� inspire local people to care about the natural world �� day in the long run.

Between January and December 2020, donations to �� project, while planting continued apace at WLT �� (73,211 saplings planted in 2020), Borneo’s Genting �� world’s rarest parrots.

�� Donations to WLT’s Plant a Tree programme allowed to bring last year trees in their tens of thousands to Ecuadorian forests home to El Oro Parakeet.

Left: In Venezuela, Provita’s Keepers of the Wild doubled down on �� endangered parrots remained protected at a time of COVID-19 chaos.

��

World Land Trust

6 Year ended 31 December 2020

Report of the Trustees

Partnerships and communications

During 2020, WLT focused on maintaining a strong �� year when many people re-connected with nature.

Increased communications capacity within WLT �� channels with our network of 32 partners. In a uniquely challenging year for the organisations WLT funds, it became possible to source and report many of the breakthroughs their work produced, such �� and more.

�� of-year materials, where WLT was able to showcase

�� donations in 2020. Full-year stats, infographics, �� each programme and WLT partner project, while a dedicated three-part series cast a light on the milestones and challenges our partners had experienced – a window opened for our supporters ��

�� formats. Our print newsletter (WLT News) went out �� year, WLT’s digital newsletter (eBulletin) went out ��

Held just before the pandemic took hold worldwide, WLT Partners’ Symposium in Guatemala offered a chance to meet and celebrate the conservationists WLT supports around the globe.

worldlandtrust.org 7

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Report of the Trustees
Support from individuals, corporates,
trusts and foundations
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Support from individuals, corporates, trusts and foundations

�� of our supporters, and in 2020 their commitment went beyond anything the Trust had seen before.

�� major part of WLT’s raising of a record £7.1 million in income in 2020. Between January and December last �� of whom were new donors), and the number of regular supporters through the WLT Friend scheme experienced its highest annual increase in the Trust’s history. The year also left monthly milestones: donations recorded in December 2020 topped those in any other month since WLT’s foundation.

WLT is also incredibly grateful to all the charitable �� their agendas. Last year, and despite the multiple challenges faced by businesses on account of the pandemic, support to WLT from all these sources continued to increase.

Grants from charitable trusts and foundations �� allowed us to secure the match funding required �� Forests and Wetlands’ campaign and supplying more than half of the funds required by the ‘Future for Gorillas’ campaign. Foundations’ support extended to WLT’s programmes, with major contributions ��

Businesses were also generous last year in their support of WLT’s urgent appeals, but largely – and most importantly – their contributions continued to be dedicated to our core programmes. In 2020, corporate support to our landmark Buy an Acre

programme allowed to purchase and protect 2,597 acres of critically threatened Dry Chaco habitat – the Chaco Taguá Biological Corridor in Argentina – and enabled our partners to safeguard part of the last �� species.

Through their support to our Action Fund, WLT corporate supporters funded last year urgent land �� trees to restore degraded habitat in Malaysian �� programme for which demand grew tremendously �� road for a whole year.

�� sealing of new partnerships and enlisting of more �� as we were reminded in a momentous 2020, our supporters will continue to make alongside our partners in 2021 and beyond.

�� After years of unwavering backing by supporters of WLT’s Carbon Balanced programme, Vietnam’s Khe Nuoc Trong forests were upgraded to Nature Reserve status in 2020.

World Land Trust

8 Year ended 31 December 2020

Report of the Trustees

Plans for future periods

In 2019 we reported that the charity continued working on its 5-year strategic plan to 2020 where we were seeking to secure an additional one �� impact than the sites supported by WLT in isolation. Whilst we cannot take credit for the full 20 million �� the size of the organisation and our funding. The �� loyal support from our growing cadre of regular �� period, so it is notable as a considerable success that the organisation has emerged from both major changes in a strong and robust position, �� and operational systems. WLT is in a strong position to enter the next strategy period.

�� our new strategic plan building upon the founding principles and work from the last 30 years and ��

management. We made good progress on �� stakeholders during 2020 but due to the COVID-19 �� impacts that needed management and meant that the new strategic plan was delayed until 2021. The new strategic plan will not fundamentally alter our �� formally in place we will continue to work tirelessly �� and protect more threatened habitats.

�� and principles for forward planning which include:

�� ( WLT Friends �� retention. Whilst this has not reached our target of 5,000 by the end of 2020, we are seeing strong engagement and commitment from those supporters and in 2021 we will continue �� area of support further.
[��] �� partnership opportunities in 2021.
[��] �� started to formulate key performance indicators and benchmarks that will support our strategic �� accurately monitor and measure our impact. This work will continue in 2021 and will be embedded in our new strategic plan.

worldlandtrust.org 9

Report of the Trustees

Plans for future periods (continued)

[��] �� decision making skills particularly where �� the entire workforce to remote working due to

�� to the work within the pandemic and we will �� presented during 2021 and beyond.

��

��ed focus on enlisting new regular-giving WLT Friends will bring yet another boost to the critical work WLT supports, such as the women-led reforestation efforts of our partner HUTAN in Borneo.

World Land Trust

10 Year ended 31 December 2020

Report of the Trustees

Our purposes and activities

Our principal purposes, as set out in our Articles of Association are:

��

��
�� threatened natural habitats anywhere in the ��
��
�� professionals, and members of the public, �� and natural resources.

World Land Trust (WLT) was established on a simple �� remains true and through the Trust adopting an approach that takes in an entire landscape, rather �� generous support of WLT’s many donors. WLT’s charitable purposes fall within the charitable �� WLT’s purposes, aims and strategies:

[��]
[��]
[��]
[��] awareness.

�� work by:

[��] ��
�� (both the Alliance as an entity and its members) by always working through local �� work and supporting them in the ultimate ownership and management of the land that ��
[��] ��
��
�� impact of our work with our local NGO partners.

�� within this report, which enables WLT to look to �� undertakes its work.

worldlandtrust.org 11

Report of the Trustees

Financial review

�� its subsidiaries are shown in the Statement of �� global COVID-19 pandemic in 2020, the charity, which is wholly reliant on raising funds from �� fundraising year in its history. Total income for the year is reported at £7,122,000 (2019: £5,696,000), a �� across all income streams in a time where we faced considerable uncertainty. As reported under the risk management section of this report the charity faced additional challenges due to COVID-19 but the incredible support from our donors, both existing �� ork going forward.

We recognise that legacy income remained �� proportion of income in 2020 at �� that donors choose to remember us in this way, and look to ensure that they are allocated to projects which maximise that impact of their bequest. We continue to be mindful that legacies are made up of �� from year to year so plan prudently and manage ��

�� Friends (regular �� from our Action Fund, but also supported other key

projects and appeals during the year. Our engaged and committed group of Friends continued to grow �� area of support.

Despite the challenges presented by COVID-19 total expenditure for WLT was £6,317,000 (2019: �� partnerships and communications. During 2020 �� for grant recognition, subsequently the charity has made the decision to change its accounting policy �� a commitment to a partner. Consequently, the charity has made a prior year adjustment to more �� expenditure is now recognised earlier than under ��

�� support costs for the organisation represented just ��

WLT’s wholly owned trading subsidiary, World Land Trust Trading Ltd (WLTT), continued to trade and made a surplus in 2020. The majority of the work ��

World Land Trust

12 Year ended 31 December 2020

Report of the Trustees

Reserves policy

WLT continues to apply a risk-based approach to its �� and monitored by the Administration and Finance Committee and Trustees quarterly. Considering the COVID-19 pandemic additional monitoring took place between the Chair of Trustees, Honorary Treasurer, CEO and COO fortnightly for much of 2020 with additional reporting on an ongoing basis �� the policy in December 2020 and considered it appropriate for the charity to continue to hold within 10 to 16 weeks of operating expenditure as �� 2020, the Trustees are mindful that the longerterm economic impact and what that might mean �� position of the charity.

�� and infrastructure systems for the charity to be able �� maximise the impact of our work.

�� the charity to quickly respond to additional �� exchange exposure and ensure the continuity of the �� short term.

It is the policy of the Trustees to retain General ��

�� action, if any, for those funds. At the end of 2020, �� General Fund to Action Fund to support ongoing ��

�� appropriate due to the uncertainty and impact of the COVID-19 pandemic and its longer-term impact on the ability for WLT to raise funds and potential �� impact of the pandemic on the global economy.

Designated funds

Total designated funds held at the year-end were £3,610,000 (2019: £3,065,000). Designated funds comprise of the following funds set aside by Trustees for the charity.

Designated Fund	Balance at 31	Balance at 31
	December 2020	December 2019
	000	000
Action Fund	731	359
��	��	��
��	��	��
��	��	��
��	��	��
��	�	��

��

worldlandtrust.org 13

Report of the Trustees

Restricted funds

Total restricted funds held at the year end were �� subsequently a prior year adjustment (as reported �� to our partners. The prior year adjustment relates ��

�� future commitment to our partners. All of these ��

Other major funding highlights, in addition to those ��

[At the end of 2020 WLT, in conjunction with a] �� committed $1 million to help secure the protection of 236,000 acres (95,500 ha) of rainforest in Belize.
[��]
�� in protecting the areas of land brought under ��
[��]
[In Ecuador, in addition to our main autumn] �� Fundación Jocotoco, we continued to work with our other partners such as Ecominga, securing priority land purchase at Manduriacu, �� programme at Nangaritza.
[In India we continued our strategic work with] WTI on supporting the D’Ering Dibru Elephant corridor as well as the Sarus Crane Wetlands project.
[��] �� and purchase to extend the Dakatcha woodland area secured in 2019.
[In 2020 we commenced work with Tanzania] �� spring appeal in 2021 to support this critical ��

Endowment fund

�� return on the fund to enable ongoing security and protection.

�� perpetuity.

�� also supported the land purchase for the
��
consolidate the feline corridor in Tropical
Mountain Cloud Forest.

World Land Trust

14 Year ended 31 December 2020

Report of the Trustees

Risk management

WLT has a risk management strategy in place which comprises:

[��] ��
[��] Administration and Finance Committee and ��
[Establishment of policies, systems and ] ��
[Implementation of procedures designed to] minimise or manage any potential impact on WLT should the risk materialise.

The risk register is a standing item on the agenda at each Administration & Finance Committee meeting and reported quarterly at Trustee meetings. Risks are considered in four key areas: operational, ��

The risk-management strategy forms part of the �� has brought a new set of risks for all of our ��

Risk

COVID-19 impact on WLT ��

Mitigations in place

[Reforecast 2020 plans and scenario planning for further reductions in] donation income with mitigating plans as to how we can reduce expenditure.
[��] ��
[Fortnightly meetings with Chair of Trustees, Honorary Treasurer, CEO ] and COO to monitor organisational health and key indicators through an organisational RAG report.
[��]
[��]
[��]
[Clear and transparent communication with donors to inform them of] how their donations are making a continued impact.

�� and human resources management

[��] ��
[��] �� and home schooling and looking after other dependents.
[��] �� implementation of a trial on hybrid working is anticipated from July 2021.
[��] ��
[��] keeping in touch.

worldlandtrust.org 15

Report of the Trustees

Risk

COVID-19 impact on our international NGO partners sustainability

Mitigations in place

[��] international NGO partners. Our programmes team work closely with all our partners to assess the impact on their organisations. During 2020 we saw some projects delayed due to COVID-19 on our partners �� that our partners are able to maintain critical operational functions as well as ensuring their own wellbeing and safety.
[��] ��
[��] use to help aid our understanding of our partners sustainability and will use this to be better placed to understand our partners risks and the potential impact on our work.
[Liaising with the partners on our joint programmes and the impact on] timing of work due to COVID-19.

Our committed and highly skilled team continue to manage those risks and maximise the support to our

��

Risk

Financial sustainability:

[Ensuring our long-term] �� is wholly funded through public, corporate and trust and foundation support. We aim to maximise the disbursements of funds to our local NGO partners on the ground and operate on �� base. Our main internal cost is a committed and �� If our income were to �� our operating plans which would reduce the scale of our impact.

Mitigations in place

[��] international NGO partners
[��] plans making recommendations to the Board of Trustees.
[��]
[��] ��
[��] base for the organisation.
[��] organisation.
[��] fortnightly meetings were held with the Chair of Trustees, Honorary �� frequency of these meetings has decreased due to the ongoing strong ��
[��] partners on the funding we need to raise and how it can be disbursed.

World Land Trust

16 Year ended 31 December 2020

Report of the Trustees

Risk

Mitigations in place

Human resources:

[��] and co�� our work successfully. We �� team which could lead to key person dependency in certain roles.
[Equal opportunity recruitment process. ]
[��] ��
[Annual performance appraisal and opportunities for professional] ��
[��] wellbeing programme.
[��] ��
[��] undertake aspects of others roles if they are away, incapacitated or not ��

Working with our international NGO partners:

We work through local, independent NGO partners �� impact in the countries where they operate. Our �� our success and place �� knowledge and expertise of our partners. Many of our partners face similar and more challenging risks than WLT including sustainability, political and economic instability and lack of accountability.
[Through due diligence undertaken to identify suitable partners led by] ��
[��] �� being established.
[��]
[��] as their key relationship manager.
[Ongoing partnerships with NGO partners building long-term] relationships based on mutual trust and respect

worldlandtrust.org 17

Report of the Trustees

Risk

Mitigations in place

Reputational damage:

There is an inherent risk of the charity’s reputation being damaged or �� partners and supporters through all of the other risks with the impact that this could damage trust in the organisation and funding and impact our relationships with our ��
[Regular monitoring of risk by Board of Trustees and Administration and] Finance Committee.
[��]
progress.
[Through due diligence of partners and ongoing monitoring. ]
[Compliance with all external regulatory bodies.]
[��]
[Clear and transparent communication to supporters and NGO partners. ]

��

�� communities and indigenous groups with tradition claims to land we are looking to secure
[Experienced local NGO partners who work in partnership with these] communities.
[Through due diligence and information collation prior to undertaking] programmes of work.
[��] early and managed.
[��] ��

World Land Trust

18 Year ended 31 December 2020

Report of the Trustees

��

�� held when it becomes appropriate, and at least �� in equities and bonds. Remaining funds are held �� timescales and currency requirements of WLT’s �� Trustees. Where funds are managed by an external �� a regular basis.

Remuneration policy

�� which was introduced at the start of 2021 externally benchmarking all roles within the organisation against externally purchased market data and tailored to WLT’s type of organisation, size and location. This framework will enable WLT to ensure it �� the sector it operates in the future.

�� a number who work part time (25 full time �� by the Administration and Finance Committee. The Administration and Finance Committee are responsible for setting and recommending CEO ��

�� increases and the ability for the Trust to be able to �� organisation’s income reduced. WLT is committed to ��

Environmental policy and management

�� the world’s most threatened habitats and species �� across the organisation, that continues to work on �� created real opportunities for change, and at an �� impacts that arise from our operations.

�� of Work” and see that there is a continued appetite for remote working. We are embracing this change and will continue to seek to utilise technology to reduce our carbon footprint.

�� our energy and carbon impact and the results �� lower emissions due to the COVID-19 pandemic �� internationally and this has continued into 2021 as �� is committed to a year-on-year per capita reduction �� strategy and targets towards net zero.

worldlandtrust.org 19

Report of the Trustees

WLT Energy and Carbon Report

WLT Emissions Summary	2020	2019
Source	Emissions (tC02e)	Emissions (tC02e)
��	��	��
��	��	��
��	��	��
��1��	��	��
��	��	��
1��	kWh	kWh2
Electricity usage including T&D3��	��	��
(3Transmission and Distribution)	2includes home working
��	Emissions/FTE	Emissions/FTE
��	��	��
tC02e per employee	2.0330	3.0621
��	��2��	��2e)
��	��	��

[�] ��

�� during 2020 the charity was responding to the ongoing �� charity establishes what the future of work will look like for our operations, and how we can implement ��

Methodologies used in calculation of emissions:

WLT follows DEFRA guidance on emissions reporting and broadly follows the Greenhouse Gas (GHG) �� footprint.

World Land Trust

20 Year ended 31 December 2020

Report of the Trustees

Our approach to fundraising

WLT is a registered charity and works within the �� the Charity Commission. WLT is registered with the �� continue in the future to be respectful of our donors and supporters wishes and all our fundraising �� found on our website (https://www.worldlandtrust. ��

�� of fundraising. We use a combination of digital and traditional methods of fundraising.

The digital newsletter continues to be our main and most consistent means of contact with our supporters. The digital newsletter goes out monthly �� when they wish.

Alongside our digital newsletter we continue to produce a printed newsletter (WLT News). As with all digital communications, donors can opt out of ��

As a fundraising organisation we ensure that:

[We will only contact our supporters by the] ��
��
[If a supporter requests to change their contact] information, their wishes will be updated in timing fashion without question.
[WLT does not fundraise through cold calling,] door to door, nor approaching people in the street to ask for subscriptions or donations.
[��] information.
[��] support WLT.
[��] �� website

https://www.worldlandtrust.org/contact-us/

Our supporters are key to our success and without them we would not be able to carry out �� foundations that WLT is built on so we ensure that �� respect. We ensure that all complaints are dealt with by the appropriate person within the organisation and are escalated when appropriate. In 2020 no complaints were made to WLT. The WLT complaints procedure can be found in the following location of WLT’s website https://www.worldlandtrust.org/ world-land-trust-complaints-proceedure/

worldlandtrust.org 21

Report of the Trustees

Structure governance and management

Governing document

�� as a company limited by guarantee and was incorporated in England on 29 October 1990. It was registered as a charity with the Charity Commission �� by the board of Trustees who are also the Directors of the Charity. The liability of the Members in the �� sum not exceeding £10.

�� and procedural policies.

�� understand the operational workings of WLT. �� guidance and articles published by the Charity �� appropriate.

Organisational structure

Recruitment and appointment of Trustees

The Trustees are nominated for election based on their skills, expertise and knowledge that they can �� new Trustees. The Trustees are required to retire after two terms of three years, following which they will be eligible for re-election after the expiry of a period of at least two years for two further terms of three years.

Trustee induction and training

�� WLTs Trustee Handbook, which includes key documentation such as Articles of Association, Charity Commission guidance on duties as a

The board of Trustees meets quarterly and is supported in its duties with an Administration and Finance Committee and Nominations Committee. The Administration and Finance Committee are �� management and organisational issues and recommending to the Trustees. The Nominations Committee is responsible for undertaking the selection process of new Trustees, Council members and CEO. All decisions or recommendations which �� Committees as appropriate.

A full list of Committee members during the year are detailed below.

Administration & Finance Committee

Myles Archibald (Chair & Honorary Treasurer)

��

��
��

Nominations Committee

Myles Archibald (Chair)

��
��
��

World Land Trust

22 Year ended 31 December 2020

Report of the Trustees

The board of Trustees is also supported by a Council. The Council members are appointed by �� communication matters and any other matters as �� The Council comprises the Trustees, Honorary �� supporters appointed for their expertise and �� responsibilities are those of members of WLT and �� of Trustees at the Annual General Meeting. A full list of Council members is detailed on page 56 of these accounts.

�� manage the day to day operations of the charity. �� and a wider ��

Related parties and co-operation with other organisations

WLT has a wholly owned related organisation in Australia. WLT Australia Limited was established �� guarantee, registered in New South Wales under the Corporations Act 2001, and recognised as a charity (ABN 79603569697, ACN 603 569 697). WLT Australia has a separate board of Directors, with WLT its sole �� Australia are consolidated.

The charity’s wholly owned subsidiary, World Land Trust Trading Limited was established to carry out �� of WLT such as sales of retail goods.

�� of the founding principles of WLT was that local in �� project partners is detailed on page 57 of these accounts.

WLT also continues to build and strengthen its �� organisations. We look to collaborate and increase �� This may include:

[��]
[identifying suitable projects where joint funding] ��
[sharing of knowledge in the international] �� or membership of organisations such as the ��

worldlandtrust.org 23

Report of the Trustees

Reference and administration details

Charity Number: 1001291 ��

Patrons

��

Honorary President

Dr Gerard A Bertrand

Directors and Trustees

The directors of the charitable company (the charity) are its Trustees for the purposes of charity law. The ��

Trustees	��	Alistair Gammell
	Myles Archibald (appointed December 2020) Anne Harley
	Nick Brown	��
	��	��
	Rohini Finch	Emma Tozer
��	Myles Archibald	Honorary Treasurer
	Elizabeth Stone	Company Secretary
Key Management Personnel	��	��
	��	��
	��	��
	��	��
Advisors
��	��	��
��	��	��
��	��	��
	��	��
��	��	��
	��	��
	��	��

World Land Trust

24 Year ended 31 December 2020

Report of the Trustees

��

The Trustees (who are also directors of World Land Trust for the purposes of company law) are responsible for preparing the Trustees’ Report ��

Company law requires the Trustees to prepare �� and of the incoming resources and application of resources, including the income or expenditure, of the charitable company and the group for that �� Trustees are required to:

[select suitable accounting policies and then apply] ��
[��] ��
[make judgements and estimates that are] ��
[��] �� departures disclosed and
��
[��] concern basis unless it is inappropriate to presume that the charitable company and the group will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable �� charitable company and the group and enable them

�� the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking �� of fraud and other irregularities.

The Trustees are responsible for the maintenance �� information included on the charitable company’s �� other jurisdictions.

In so far as the Trustees are aware:

[��] ��
[��] �� the auditor is aware of that information

In preparing the Report of the Trustees the Trustees �� Report.

Signed on behalf of the Trustees

�� Chair and Trustee

��

worldlandtrust.org 25

Independent Auditor’s Report to the members of World Land Trust

Opinion

�� Land Trust for the year ended 31 December 2020 �� account, the Group and charity balance sheets, the �� reporting framework that has been applied in their �� Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard ��

��

[��] group’s and of the parent charitable company’s �� group’s and parent charitable company’s net ��
[��] ��
[��] requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with �� under those standards are further described in the Auditor’s responsibilities for the audit of the �� independent of the group in accordance with the ��

�� our other ethical responsibilities in accordance ��

Conclusions relating to going concern

�� concluded that the Trustees’ use of the going concern basis of accounting in the preparation of �� continue as a going concern for a period of at least �� are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are ��

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees �� the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

�� statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent �� obtained in the audit or otherwise appears to be materially misstated. If we identify such material

World Land Trust

26 Year ended 31 December 2020

Independent Auditor’s Report to the members of World Land Trust

inconsistencies or apparent material misstatements, we are required to determine whether there is a �� a material misstatement of the other information. �� conclude that there is a material misstatement of this other information, we are required to report that ��

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

[��] Trustees (which includes the strategic report and the directors’ report prepared for the purposes ��
[the strategic report and the directors’ report] �� 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 �� the Report of the Trustees (which incorporates the directors’ report).

�� matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

[��] ��
[��] statements are not in agreement with the ��
[certain disclosures of Trustees’ remuneration] ��
[��] ��
[the Trustees were not entitled to prepare the] ��
small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of Trustees for the ��

As explained more fully in the Trustees’ responsibilities statement set out on page 25, the Trustees (who are also the directors of the charitable company for the purposes of company law) are �� the Trustees determine is necessary to enable the �� from material misstatement, whether due to fraud or error.

�� are responsible for assessing the group’s 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 ��

worldlandtrust.org 27

Independent Auditor’s Report to the members of World Land Trust

Auditor’s responsibilities for the audit of ��

�� are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance �� will always detect a material misstatement when it exists. Misstatements can arise from fraud or error �� aggregate, they could reasonably be expected to ��

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, �� respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the �� the principal risks of non-compliance with laws and regulations related to charity and company law applicable in England and Wales, and we considered �� statements such as the Companies Act 2006, fundraising regulations and the Charities Act 2011.

�� opportunities for fraudulent manipulation of the �� of controls), and determined that the principal risks were related to income and grant recognition. Audit procedures performed by the engagement team included:

[Discussions with management including] consideration of known or suspected instances of non-compliance with laws and regulation and ��
[��] �� throughout the year, including during the ��
[��] ��
[Identifying and testing journals, in particular] journal entries posted with unusual account combinations, postings by unusual users or with ��
[Challenging assumptions and judgements] made by management in their critical accounting estimates, in particular donation and legacy recognition, recognition of grant income and the �� for bad and/or doubtful debts.

A further description of our responsibilities for the �� Financial Reporting Council’s website at: www.frc. org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

World Land Trust

28 Year ended 31 December 2020

Independent Auditor’s Report to the members of World Land Trust

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with �� 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 ��

��

�� 30 July 2021

��

worldlandtrust.org 29

For year ended 31 December 2020

								As restated
			Unrestricted		Restricted	Endowment	Total	Total
				Funds	Funds	Funds	2020	2019
	Note			£’000	£’000	£’000	£’000	£’000
��ments
Donations and legacies		3		3,715	3,029	36	6,780	5,441
��		4		277	-	-	277	168
��		5		11	-	-	11	24
��		6		��	�	��	51	59
Other				3	-	-	3	4
Total income				��	��	��	7,122	5,696
Expenditure
Raising funds		7		��	��	�	461	444
��
Land acquisition		8		��	��	�	4,401	3,703
��		8		��	��	��	799	1,088
Reforestation		8		�	��	�	414	606
��
communications		8		220	22	-	242	208
Total expenditure				��	��	��	6,317	6,049
��				��	�	��	43	235
Net income/(expenditure)				��	��	��	848	(118)
Transfer between funds	23			(2,301)	2,301	-	-	-
Other (losses)/gains				7	-	90	97	(107)
Net movement in funds				��	��	��	945	(225)
Reconciliation of funds
Total funds brought forward
��				��	��	��	5,486	5,890
��	28			-	(316)	-	(316)	(179)
Total funds brought forward	as
restated				��	��	��	5,170	5,711
Total funds carried forward	22			��	��	��	6,115	5, 486

�� A��

Th��

World Land Trust

30 Year ended 31 December 2020

Summary income and expenditure account

For year ended 31 December 2020

		As restated
	2020	2019
	£’000	£’000
Income	7,069	5,637
��	(14)	98
��	34	44
Gross income	7,089	5,779
Expenditure	6,248	5,977
Interest payable	4	5
Depreciation and impairment charges	19	22
Total expenditure	6,271	6,004
Net income/(expenditure)	818	(225)

��

worldlandtrust.org 31

Group and charity balance sheets

��

at 31 December 2020

		Group	Group	Charity	Charity
			As restated		As restated
		2020	2019	2020	2019
	Note	£000	£000	£000	£000
Fixed assets
Intangible assets	14	-	1	-	1
Tangible assets	15	��	��	��	��
��	16	��	��	��	��
		��	��	��	��
Current assets
Stock	17	22	22	-	-
Debtors	18	��	��	��	��
��		��	��	��	��
		��	��	��	��
Liabilities
Creditors: amounts falling due within
one year
	19	��	��	��	��
��		��	��	��	��
��		��	��	��	��
Creditors: amounts falling due after
one year	20	��	��	��	��
Total net assets		��	��	��	��

Funds of the charity
��		��	��	��	��
��		��	��	�	�
	23	��	��	��	��
Designated funds	23	3,610	3,065	3,610	3,065
Restricted funds	24	��	��	��	��
Endowment funds	25	��	��	��	��
Total charity funds	22	��	��	��	��

��

�� Chair of Trustees Trustee & Honorary Treasurer

The notes at pages �� form part of these accounts.

World Land Trust

32 Year ended 31 December 2020

For year ended 31 December 2020


		2020	2019
	Note	£000	£000
��	27	2,801	(887)
��
��		��	��
��		��	��
��		��	��
��		��	��
��		��	��
��		��	��
��		��	��
��
��		��	��
��		��	��
Net change in cash and cash equivalent in the reporting period		2,741	(815)
Cash at bank and in hand at the beginning of the reporting period		2,679	3,601
��		��	��
Cash at bank and in hand at the end of the reporting period		5,517	2,679
Cash and cash equivalents
��		��	��
��		��	��
Cash at bank and in hand at the end of the reporting period		5,517	2,679

worldlandtrust.org 33

Notes to the accounts

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation ��

a) Basis of preparation
�� accordance with Accounting and Reporting by �� applicable to charities preparing their accounts in accordance with the Financial Reporting �� Financial Reporting Standard applicable in the �� Companies Act 2006.

�� liabilities are initially recognised at historical ��

��
�� of the charity and its wholly owned subsidiaries World Land Trust Trading Limited and WLT Australia Limited on a line-by-line basis. A �� and Income and Expenditure Account for the charity has not been presented because the �� 2006.
�� the charity, the Trustees consider there to be no material uncertainties about the charity’s ability to continue as a going concern for

�� months from the date of these accounts). The Trustees therefore continue to adopt the �� statements.

d) Income

All income is included in the Statement of �� is legally entitled to the income after any �� amount can be measured reliably and it is ��

For donations to be recognised the charity �� the settlement date in writing. If there are conditions attached to the donation, and �� entitlement can be obtained, then income is deferred until those conditions are fully met �� the control of the charity and it is probable �� on donations is recognised as unrestricted income.

��

For legacies, we recognise income at the �� granted, and we can measure the expected distribution with reasonable accuracy.

�� it is not possible to measure the expected �� the legacy is treated as a contingent asset and disclosed.

��

World Land Trust

34 Year ended 31 December 2020

Notes to the accounts

Income (continued)

�� is recognised when entitlement has occurred.

�� amount can be measured reliably. Interest �� payment is established.

��

Donated facilities and donated professional �� it can be measured reliably, and the charity has �� For example, the amount the charity would be willing to pay in the open market for such �� is recognised in expenditure.

Gifts in kind donated for resale are included at �� sale less the expected costs of sale. Where �� receipt it is recognised in stock and ‘Income �� are recognised as ‘Income from other trading �� statements until they are sold. This income is recognised within ‘Income from other trading ��

f) Fund accounting

�� discretion of the Trustees in furtherance of the ��

Designated funds comprise unrestricted funds �� particular purposes. The aim and use of each designated fund is set out in the notes to the ��

Restricted funds are funds which are to be �� by the charity for particular purposes. The cost of raising and administering such funds are �� use of each restricted fund is set out in the ��

Endowment funds represents those assets which must be held permanently by the charity or where there is a requirement to spend or apply the capital.

�� fund can be used in accordance with the �� Any capital gains or losses arising on the �� to the fund are charged against the fund.

�� as an endowment fund due to the requirement to hold the asset into perpetuity, and it is therefore a permanent endowment.

worldlandtrust.org 35

Notes to the accounts

��

All expenditure is accounted for on an accruals basis and has�� that aggregate all costs related to the category. Expenditure is recognised where there is �� payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

�� costs, exte�� marketing and other costs associated with �� and costs associated with attracting trading ��

�� those costs incurred by the charity and trading subsidiar��

�� where either a�� obligation arises, and the conditions are not in control of the charity.

��

[��] communication to the partner occur prior to year-end and there is an established practice �� relates to where the charity has a longer�� and historic practice is that the charity has ��equirements and not ��
[��] communication to the partner occur prior to year-end and payment is within three months as it is considered that this indicates that the conditions were out of the control of the charity at the year end and therefore a liability has been created.

The charity has changed its accounting policy on recognition of grants in 2020 and this is ��

��

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly �� raising funds and expenditure on charitable ��

i) Operating leases

Operating lease rentals are charged to the �� of the lease.

��

Intangible assets are amortised on a straight ��

Type	Useful Economic Life Basis	Useful Economic Life Basis
Trademarks	5 years	In line
��		��
made for any		strategic
impairment.		plan to
		2020

World Land Trust

36 Year ended 31 December 2020

Notes to the accounts

��

�� depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

�� follows:

follows:
Type	Useful
	Economic Life
��	��
equipment	balance
��	��
	line

�� measured at cost less impairment.

�� cost less impairment.

m) Stock

Stock includes carbon credits which are a tradable monetary security which is equal to one tonne of a greenhouse gas, such as Carbon Dioxide. The credits are stated at the lower of ��

n) Debtors

Trade debtors and other debtors are

recognised at the settlement amount due. �� net of any trade discounts due. Accrued income ��

On transition to FRS 102, the Trustees took

�� the freehold property to deemed cost and a �� The Trustees are of the opinion that due to the program of repairs and maintenance �� in the accounts and therefore depreciation is not charged. An annual impairment

��

�� excluding transaction costs. Subsequently, �� changes recognised in ‘net gains / (losses) ��

o) Cash at bank and in hand

Cash at bank and in hand includes cash and �� short maturity date of three months or less.

��

�� the charity has a present obligation resulting �� the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and �� settlement amount.

Grant creditors are recognised in line with the

��

worldlandtrust.org 37

Notes to the accounts

��

�� pension scheme which employees are entitled to join and is funded by contributions from the employee and employer. The contributions made for the accounting period are treated as an expense as they become payable and were £39,000 (2019: £31,000).

r) Redundancy

Where an obligation to make a redundancy or termination payment exists, the costs incurred by the charity are accounted for on an accruals ��

s) Foreign currency

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

(t) Critical accounting judgements and estimates
�� of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in �� are based on historical experience and other �� circumstances.

The critical accounting judgements and

��
[grants that are recognised based on the new] accounting policy as described in note 1 (g) and details of the impact of the change are ��
[deferred income where amounts are set aside] to meet the future expenditure of monitoring �� amounts are based on an estimate of �� undertaking monitoring. These are estimated �� diligence remotely.
(u) World Land Trust is a company limited by guarantee and registered in England and Wales �� address is Blyth House, Bridge Street,
��

2. Gifts in Kind

�� corporate entities time and resources is �� quantify.

This has not been recognised in the Statement �� of the accounting policies.

World Land Trust

38 Year ended 31 December 2020

Notes to the accounts

��

��
	2020	2019
	Total	Total
	Funds	Funds
	£000	£000
��	��	��
��	��	��
��	��	��
��	��	��
��
	2020	2019
	Total	Total
	Funds	Funds
	£000	£000
��	��	��
��
	2020	2019
	Total	Total
	Funds	Funds
	£000	£000
��	�	�
Sales of artwork	3	2
��	�	��
��	��	��
��
	2020	2019
	Total	Total
	Funds	Funds
	£000	£000
��	��	��

worldlandtrust.org 39

Notes to the accounts

Analysis of expenditure on raising funds	2020	2019
	£000	£000
Costs of raising voluntary income:
��	��	��
��	��	��
��	��	��
��	��	��
	��	��
Cost of trading operations	2	5
��	10	9
Total	��	��

8. Analysis of Expenditure on Charitable Activities

	Land	Reserve		Partnerships &	Total
Acquisition		Management	Reforestation	Communications	2020
	£000	£000	£000	£000	£000
��	��	��	��	��	��
��	��	��	��	��	��
��	�	��	�	��	��
��	��	�	�	�	��
Apportionment of support
��	��	��	��	�	��
	��	��	��	��	��

All grant expenditure is paid to institutions. A list of project partners is included on page 57.

Prior year:					As restated
	Land	Reserve		Partnerships &	Total
	Acquisition	Management	Reforestation	Communications	2019
	£000	£000	£000	£000	£000
��	��	��	�	��	��
Expenditure to project
��	��	��	��	��	��
��	��	��	�	��	��
��	��	�	�	�	��
Apportionment of support
��	��	��	�	�	��
	��	��	��	��	��

World Land Trust

40 Year ended 31 December 2020

Notes to the accounts

9. Analysis of support and governance costs

		General		Total
	Basis of Apportionment	Support	Governance	2020
		£000	£000	£000
��	��	��	��	��
��	��	�	�	�
��	��	��	��	��
��	��	��	�	��
��	��	��	�	��
��
��	��	��	�	��
��		��	��	��
Prior year:
		General		Total
	Basis of Apportionment	Support	Governance	2019
		£000	£000	£000
��	��	��	��	��
��	��	��	�	��
��	��	��	��	��
��	��	��	�	��
��	��	��	�	��
��
��	��	��	�	��
��		��	��	��

10. Movement in total funds for the year

		2020	2019
		£000	£000
This is stated after charging:
Auditor’s remuneration	– Charity	17	15
	– Subsidiary	2	2
	– WLT Australia	1	1
��		�	�
Depreciation		19	22
Foreign exchange gains/(losses)		97	(97)
��		��	��
Loss/(gain) on disposal of assets		20	10

worldlandtrust.org 41

Notes to the accounts

11. �� and the cost of key management personnel

and the cost of key management personnel
	2020	2019
	£000	£000
Salaries and wages	723	696
Social security costs	59	56
��	��	��
	��	��
��
£90,000 - £100,000	-	1
��	�	�
£60,000 - £70,000	2	1

Salaries and wages include termination payments of £nil (2019: £60,000). There were no amounts outstanding at the year end.

�� remuneration (2019: £nil). During the year the Trust no reimbursement to Council members in respect of ��

��

	2020	2019
	£000	£000
Raising funds	9	7
��	�	�
Support	5	5
��	�	�
��	��	��

World Land Trust

42 Year ended 31 December 2020

Notes to the accounts

12. Related party transactions

The Trust has considered the disclosure �� that the following related party transactions, all of which were made on an arm’s length basis, require disclosure.

Donations from Trustees (including connected persons and parties), in aggregate, totaled £59,611 ��

13. Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in ��

14. ��

Intangible assets consist of trademarks. In 2015 World Land Trust purchased the WLT Carbon Balanced trademarks back from a company with whom the trading company had had a contractual arrangement with. Intangible assets at 31 December 2020 were held at £nil (2019: £1,000)

worldlandtrust.org 43

Notes to the accounts

15. Tangible Fixed Assets

a) Group Cost or valuation �� Additions Disposals �� Depreciation �� Charge for the year Disposals At 31 December 2020 Net book value �� �� b) Charity Cost or valuation At 1 January 2020 Additions Disposals At 31 December 2020 Depreciation �� Charge for the year Disposals At 31 December 2020 Net book value �� At 31 December 2019	�� �� �� �� Property Land Fittings Equipment Total £000 £000 £000 £000 £000 �� �� �� �� �� - - - 21 21 - - - - -	�� �� �� �� Property Land Fittings Equipment Total £000 £000 £000 £000 £000 �� �� �� �� �� - - - 21 21 - - - - -
	�� �� �� �� ��
	� � �� �� �� - - 2 17 19 - - - - -
	- - 16 160 176
	�� �� �� �� ��
	�� �� �� �� ��
	�� �� �� Land Fittings Equipment Total £000 £000 £000 £000 75 19 105 199 - - 21 21 - - - - 75 19 126 220 � �� �� �� - 1 16 17 - - - - - 11 92 103 �� � �� �� 75 9 29 113
		75 9 29 113

World Land Trust

44 Year ended 31 December 2020

Notes to the accounts

16. �� Group Charity 2020 £000 £000 Valuation at 1 January 1,767 1,563 Additions at cost 71 30 �� �� �� �� �� �� Exchange gain/(loss) 90 (12) Valuation At 31 December �� �� �� �� �� Total valuation at 31 December �� �� Comprising of: �� �� �� �� �� �� �� �� �� Total �� �� Restriction analysis: �� �� �� Endowment �� �� Total �� �� Subsidiary undertakings Shares in subsidiary undertakings Details of subsidiary undertakings at the balance sheet date are as follows: Name Nature of Business & owned �� �� �� �� Trading Ltd contracting Expenditure �� Gift aid payable �� �� �� �� charity Expenditure ��		Group Charity 2020 £000 £000 1,767 1,563 71 30 �� �� �� �� 90 (12)	Group Charity 2019 £000 £000 1,757 1,553 71 30 �� �� �� �� 90 (12) �� �� �� �� �� �� � � �� �� �� �� �� �� �� �� �� �� �� �� 2020 2019 £ £ 2 2 Results Net Assets £’000 £’000 �� �� 230 �� - �� �� 16 30
		�� �� �� ��
		�� ��
		�� �� �� �� �� ��

The charity holds 1 share of £1 in its wholly owned trading subsidiary company World Land Trust Trading �� shares allo��

��

worldlandtrust.org 45

Notes to the accounts

Stock				Charity
	2020	2019	2020	2019
	£000	£000	£000	£000
Retail good for resale	2	2	-	-
��	��	��	�	�
	22	22	-	-

��

Debtors				Charity
	2020	2019	2020	2019
	£000	£000	£000	£000
��	��	��	��	��
��	��	��	��	��
��	�	��	�	��
Amount due from subsidiary	-	-	225	221
��	��	��	��	��
	��	��	��	��

19. Creditors: amounts falling due within one year

	As restated		As restated
	Group		Charity
	2020	2019	2020	2019
	£000	£000	£000	£000
��	�	�	�	�
��	��	��	��	��
��	��	��	��	��
��	��	��	��	��
��	��	��	��	��
	��	��	��	��

20. Creditors: amounts falling due after one year

	As restated		As restated
	Group		Charity
	2020	2019	2020	2019
	£000	£000	£000	£000
��	��	��	�	�
��	��	��	�	�
��	��	��	��	��
	��	��	��	��

The bank loan is secured on the Blyth House property owned by World Land Trust Trading Limited. The ��

World Land Trust

46 Year ended 31 December 2020

Notes to the accounts

21. ��

��

	Group	Charity
	£000	£000
Balance at 1 January 2020	96	-
Amount released during the year	2	-
Amount deferred in the year	-	-
Balance at 31 December 2020	��	�

��

22. Analysis of total funds

					As
					restated
At the 31 December 2020	total funds	2020	2020	2019	2019
comprise:		£000	£000	£000	£000
	Note
��	23	��		��
Designated funds	23	3,610		3,065
			��		��
Restricted funds	24		��		��
Endowment funds	25		��		��
Total Funds			6,115		5,170

worldlandtrust.org 47

Notes to the accounts

23. Analysis of unrestricted and designated

	Balance					Balance
	1 January				Net gains/	31 December
	��	��	��		��	��
	£000	£000	£000	£000	£000	£000
Unrestricted funds:
��	��	��	��	��	��	��
��	��	�	�	�	�	��
	��	��	��	��	��	��
Designated funds:
��	��	��	��	��	�	��
��	��	�	��	�	�	��
��	��	��	�	��	�	��
��	��	�	��	�	�	�
��	��	�	�	��	�	��
Strategic
��	��	�	�	��	�	��
	��	��	��	��	�	��
Total	��	��	��	��	��	��
Prior year:
	Balance					Balance
	1 January				Net gains/	31 December
	��	��	��		��	��
	£000	£000	£000	£000	£000	£000
Unrestricted funds:
��	��	��	��	��	��	��
��	��	�	�	�	�	��
	��	��	��	��	��	��
Designated funds:
��	��	��	��	��	�	��
��	��	�	�	��	��	��
��	��	��	��	��	��	��
��	��	�	�	�	�	��
��	��	�	�	��	�	��
Strategic
��	��	�	�	��	�	��
	��	��	��	��	��	��
Total	��	��	��	��	�	��

World Land Trust

48 Year ended 31 December 2020

Notes to the accounts

23. Analysis of unrestricted and designated (continued)

Unrestricted funds description:

The General Fund represents the working �� the property to deemed cost under the transitional arrangements allowed by FRS 102.

Designated funds description:

�� urgently needed or where we are unable to raise funds through appeals or other sources, allowing the Trust to react to the changing circumstances faced by our partners. We �� fund allowing replenishment on an ongoing �� to support programme work. At the end of �� General Fund to support programme work in 2021 to enable us to continue to support critical �� raise funds through appeals or other sources of fundraising.

�� projects for which the Trust has yet to raise funds through an appeal or from other sources. �� of the projects or programmes supported the timeframe for disbursement of the fund and subsequent repayment thereby allowing new ��

The Legacy Fund represents unrestricted �� programmes of the Trust. This fund includes legacies that are accrued and are included in debtors on the balance sheet. The Trust

�� that funds will be expended within a two year period but recognise that some legacies take an appreciable amount of time from initial recognition to completion of the legacy.

�� partners and Symposium costs. The fund was fully expended in 2020 for the symposium in Guatemala.

�� income, particularly legacy, and this has enabled the organisation to be able to fund �� been supported. The remaining funds will be ��

�� and growth of the Trust. During 2020 the Trust expended £50,000 in engaging the support of �� website and other external consultant support for organisational growth. At the end of 2020 �� Fund from the General Fund to support the �� to donors (expected in late 2021 after a pilot campaign in Summer 2021), IT infrastructure for hybrid working and other infrastructure ��

worldlandtrust.org 49

Notes to the accounts

Analysis of Transfers between Funds:	Note	Unrestricted	Designated	Restricted
		£000	£000	£000
Transfer from General Fund	1	(322)	322	-
Transfers from Action Fund	2	-	(1,039)	1,039
Transfers from Legacy Fund	3	-	(1,031)	1,031
��	�	�	��	��
Transfer between Strategic
��	�	��	��	�
��	�	��	��	��
		��	��	��

Notes for 2020

��
��
��
�� 2020.
Transfers were made to restricted projects as they ��
��
- ��
��
�� expenditure in 2020.
�� of legacy funding taken to General Fund in line with the deceased’s wishes to support the core ��
��

Prior year	Note	Unrestricted	Designated	Restricted
	£000	£000	£000
��	�	�	��	��
Transfers from Legacy Fund	2	-	(1,373)	1,373
��	�	�	��	��
Transfer between Strategic
��	�	��	��	�
��	�	��	��	��
		��	��	��

Notes for 2019

�� 2019.
Transfers were made to restricted projects as they ��

��

  - ����������������������������������������������������� Fund to match expenditure in 2019 including the costs of recruiting a new CEO.

  - ���������������������������������������������� ������������������������������������������������ ��������������������������������������������� ������������������������������������������������ ����������������������������������

Transfers were made to match payments
��

World Land Trust

50 Year ended 31 December 2020

Notes to the accounts

24. Analysis of restricted funds

	Balance					Balance
	1 January				Net gains/	31 December
	��	��	��	��	��	��
	£000	£000	£000	£000	£000	£000
��
Big Match/
��	��	��	��	��	�	�
��	��	��	��	��	�	��
��	��	��	��	��	�	��
��
��	��	��	��	��	�	��
��	��	��	��	��	�	��
Other	-	-	(9)	9	-	-
	��	��	��	��	�	��
By country:
��	�	�	��	��	�	�
Armenia	-	-	(229)	229	-	-
Belize	6	2	(759)	751	-	-
��	�	�	��	��	�	��
��	��	�	��	��	�	�
��	�	�	��	��	�	�
��	�	��	��	�	�	��
��	��	��	��	��	�	�
��	��	��	��	��	�	��
��	��	��	��	��	�	��
��	��	�	��	��	�	�
��	��	�	��	��	�	��
��	�	�	��	��	�	�
��	��	�	��	��	�	�
��	�	�	��	��	�	�
��	�	�	��	��	�	�
��	�	�	��	��	�	�
��	�	�	�	�	�	�
��	�	�	��	��	�	��
Venezuela	-	-	(10)	10	-	-
��	��	��	��	��	�	��
��	�	�	��	��	�	�
��	�	�	��	��	�	�
	��	��	��	��	�	��
Total	��	��	��	��	�	��

worldlandtrust.org 51

Notes to the accounts

24. Analysis of restricted funds (continued)

Prior year:

r year:
	Balance					Balance
	1 January				Net gains/	31 December
	��	��		��	��	��
	£000	£000	£000	£000	£000	£000
��
��	��	��	��	��	�	��
��	��	��	��	��	�	��
��	��	��	��	�	�	��
��	��	��	��	��	�	��
��	��	��	��	��	�	��
Other	1	1	(9)	7	-	-
	��	��	��	��	�	��
By country:
��	�	�	��	��	�	�
��	��	��	��	��	�	�
Belize	(335)	5	(190)	526	-	6
��	��	�	��	��	�	�
��	��	�	��	�	�	��
��	�	�	��	��	�	�
��	�	��	��	��	�	��
��	��	��	��	��	�	��
��	��	��	��	��	�	��
��	�	��	��	��	�	��
��	��	��	��	��	�	��
��	�	��	��	��	�	�
��	�	��	��	��	�	��
��	�	�	��	�	�	�
��	��	�	��	�	�	�
��	��	�	��	��	�	�
��	�	�	�	�	�	�
Tanzania	-	-	-	-	-	-
��	�	�	��	�	�	�
��	��	��	��	��	�	��
��	�	�	��	��	�	�
��	�	�	��	�	�	�
	��	��	��	��	�	��
Total	��	��	��	��	�	��

World Land Trust

52 Year ended 31 December 2020

Notes to the accounts

24. Analysis of restricted funds (continued)

Description of funds:

��

[Buy an Acre is for land acquisition in countries] where we can secure land for approximately £100 per acre.
[��] support our carbon sequestration projects. The �� donations in 2021 are anticipated to clear this balance.
[��] 2020. This was due to recognition of 2021 funding �� Donations to support this programme will be raised in 2021.
[��] end of 2020. This was due to recognition of 2021

�� 2020. Donations to support this programme will be raised in 2021.

[��] 2020. This arose due to future funding commitments being recognised at the end of �� programme costs in 2021.
[��] end of 2020. This arose due to a 5 year funding commitment made to support project work in 2020 to the partner. We will seek to raise the �� are interested in supporting India.
[��] of 2020. Funding for this programme will be �� will be cleared.

25. Analysis of endowment funds

	Balance					Balance
	1 January				Net gains/ 31 December
	��	��	��	��	��	��
	£000	£000	£000	£000	£000	£000
��	��	��	��	�	��	��
��	��	�	�	�	�	��
	��	��	��	�	��	��
Prior year:	Balance					Balance
	1 January				Net gains/ 31 December
	��	��	��	��	��	��
	£000	£000	£000	£000	£000	£000
��	��	��	��	�	��	��
��	��	�	�	�	�	��
	��	��	��	�	��	��

Description of funds:

The San Rafael Fund, an expendable endowment, �� International in 2013 and is represented by Fixed �� operational running costs of the San Rafael
��
�� endowment of land owned by WLT in Gloucestershire which was gifted as a legacy.

worldlandtrust.org 53

Notes to the accounts

26. Analysis of group net assets between funds

					2020
	General	Designated	Restricted	Endowment	Total
	£000	£000	£000	£000	£000
��	��	�	�	��	��
��	�	�	�	�	�
��	��	��	�	��	��
��	��	��	��	��	��
��	��	��	��	�	��
��	��	�	��	�	��
	��	��	��	��	��
					As restated
Prior year:			As restated		2019
	General	Designated	Restricted	Endowment	Total
	£000	£000	£000	£000	£000
��	��	�	�	��	��
��	�	�	�	�	�
��	��	��	�	��	��
��	��	��	��	��	��
��	��	��	��	��	��
��	��	�	��	�	��
	��	��	��	��	��

27. Reconciliation of net income/(expenditure) ��

Reconciliation of net income/(expenditure) ��
	Group	As restated
	2020	2019
	£000	£000
Net income/(expenditure) for the year	��	��
Adjustments for:
Amortisation charges	-	-
Depreciation charges	19	22
��	��	��
��	��	��
��	��	��
��	�	�
Decrease in stock	-	1
��	��	��
��	��	��
Net cash provided/(used in) by operating	��	��
Activities

World Land Trust

54 Year ended 31 December 2020

Notes to the accounts

��

�� grant recognition, the charity has made the decision �� substance of its commitments. Consequently, the charity has made a prior year adjustment to more �� partners were only recognised where there was �� communication to the partner occurred prior to �� and therefore a liability, where the following conditions arise.

�� communication to the partner occur prior to year-end and there is an established practice �� relates to where the charity has a longer-term �� grant funding requirements and not withdrawn ��
•�� communication to the partner occur prior to year-end and payment is within three months as it is considered that this indicates that the conditions were out of the control of the charity at the year end and therefore a liability has been created.

��

��
£’000	2020	2019	2018
��	��	��	��
Increase in grant co��	��	��	��
Reduction in restricte��	��	��	��
��
£’000		2019	2018
��		��	��
Additional grant expenditure recognised		(316)	(179)
Restricted fund balances as restated		449	496
��		��	��
��		��	�
restatement
��		(225)	82
Additional grant expenditure recognised as a prior year adjustment
on fund balances brought forward		(316)	(179)
��		(541)	(97)

29. Legal status of the Trust

�� up, the liability in respect of the guarantee is limited to £10 per member of the charity.

worldlandtrust.org 55

Notes to the accounts

30. Operating leases (Group and Charity)

			Equipment	Equipment
			2020	2019
			£000	£000
Total commitments in relation to operating leases expiring		are as follows:
Within one year			1	2
��			�	�
��
(31 December 2019)				As restated
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	2019
	£’000	£’000	£’000	£’000
��
��	��	��	�	5,441
��	��	�	�	168
��	��	�	�	24
��	��	�	��	59
��	�	�	�	4
Total income	2,672	3,009	15	5,696
Expenditure
Raising funds	167	271	6	444
��
Land acquisition	332	3,371	-	3,703
��	��	��	��	1,088
Reforestation	-	606	-	606
��	��	��	�	208
Total expenditure	��	��	��	6,049
��	��	�	��	235
Net income/(expenditure)	��	��	��	(118)
��	��	��	�	-
Other gains/(losses)	(95)	9	(21)	(107)
Net movement in funds	��	��	��	(225)
Reconciliation of funds
��	��	��	��	5,890
��	�	��	�	(179)
Total funds brought forward as restated ��		��	��	5,711
Total funds carried forward as restated	��	��	��	5,486
��	�	��	�	(316)

Total funds carried forward as restated	��	��	��	5,170

World Land Trust

56 Year ended 31 December 2020

List of Council members

�� members are appointed by the Trustees, and �� fundraising, marketing and communications and other matters useful to WLT.

�� Committee members and other appointed ��

During 2020 the Council comprised the following ��

Albertino Abela

Myles Archibald (retired, 9 December 2020) Dr Simon Barnes Dr Iain Barr Mark Carwardine �� Dr Lee Durrell Dr Simon Lyster Nigel Massen Bill Oddie �� George Sawtell �� Dr Nigel Simpson

worldlandtrust.org 57

List of project partners

Africa

��

Africa

�� Cultural Assets (Armenia) Hutan (Malaysia) Iranian Cheetah Society (Iran) �� Wildlife Trust of India (India) ��

Central and South America

�� Asociación Ecológica de San Marcos de Ocotepeque (Honduras) �� Fundación EcoMinga (Ecuador) �� Fundación Jocotoco (Ecuador) Fundación Melimoyu (Chile) �� Fundación Naturaleza para el Futuro (FuNaFu) (Argentina) �� (Guatemala) �� Grupo Ecológico Sierra Gorda (Mexico) �� Naturaleza y Cultura internacional Ecuador (Ecuador) �� Naturaleza y Cultura Sierra Madre (Mexico) ��

UK

��

World Land Trust

58 Year ended 31 December 2020

Q Fundacion locotoco

World Land Trust Blyth House Bridge Street Halesworth Suffolk IP19 8AB, UK Tel: 01986 874422 Fax: 01986 874425 Email: info@worldlandtrust.org

worldlandtrust.org

ANNUAL REPORT

Contents

Foreword

Report from our Chair

�������������������������������������������

�����������������������������������������������

�������������������������������������������

Foreword (cont’d)

Report from our CEO

A year of conservation milestones

Land acquisition

Reforestation

Reserve management

Partnerships and communications

Support from individuals, corporates, trusts and foundations

Plans for future periods

Plans for future periods (continued)

Our purposes and activities

Financial review

Report of the Trustees

Reserves policy

Designated funds

Restricted funds

Endowment fund

Risk management

Risk

Mitigations in place

Risk

Mitigations in place

Risk

Financial sustainability:

Mitigations in place

Report of the Trustees

Risk

Mitigations in place

Human resources:

Working with our international NGO partners:

Risk

Mitigations in place

Reputational damage:

���������������������

Report of the Trustees

�������������������

Remuneration policy

Environmental policy and management

Report of the Trustees

WLT Energy and Carbon Report

Methodologies used in calculation of emissions:

Report of the Trustees

Our approach to fundraising

Structure governance and management

Governing document

Organisational structure

Recruitment and appointment of Trustees

Trustee induction and training

Administration & Finance Committee

Nominations Committee

Report of the Trustees

Related parties and co-operation with other organisations

Reference and administration details

Patrons

Honorary President

Directors and Trustees

�����������������������������������������������������������������

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of Trustees for the �������������������

Auditor’s responsibilities for the audit of �����������������������

Use of our report

For year ended 31 December 2020

Summary income and expenditure account

For year ended 31 December 2020

at 31 December 2020

For year ended 31 December 2020

1. Accounting policies

��

��

��

��

��

��

Responsibilities of Trustees for the ��

Auditor’s responsibilities for the audit of ��

��

��

��

��

��

��

11. �� and the cost of key management personnel

14. ��

��

21. ��

��