2022-12-31-accounts

Charity No. 1010814

ALLERTON RESEARCH AND EDUCATIONAL TRUST

STATEMENT OF ACCOUNTS

31 DECEMBER 2022

CONTENTS

Page

1. Accountants' Report 2. Statement of Financial Activities 3. Balance Sheet

2. • 1. Notes to the Balance Sheet 7. Income and Expenditure Account 8. Research Project Income and Expenditure Account 9. Estate Income and Expenditure Account

3. Farm Income and Expenditure Account 11. Farm Gross Margins 12. Details of Farm Expenditure

FLETCHER & PARTNERS

CHARTERED ACCOUNTANTS

SALISBURY

Page 1

REPORT OF THE ACCOUNTANTS TO THE TRUSTEES OF THE GAME AND WILDLIFE CONSERVATION TRUST ON THE ACCOUNTS OF THE ALLERTON RESEARCH AND EDUCATIONAL TRUST

We report on the management accounts of the Allerton Research and Educational Trust which are set out on pages 2 to 12, and which have been compiled from the accounting records of the Allerton Research and Educational Trust and from information and explanations which have been supplied to us.

The Allerton Research and Educational Trust is the subject of a Uniting Direction issued by the Charity Commission on 8 March 2006 whose effect is that the accounts of the Allerton Research and Educational Trust are combined with those of The Game and Wildlife Conservation Trust for reporting purposes.

We have not been instructed to carry out an audit of the accounts of the Allerton Research and Educational Trust. For this reason, except in the context of our audit of the consolidated accounts of the Game and Wildlife Conservation Trust, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us, and we do not, therefore, express any opinion on these accounts.

Salisbury

FLETCHER & PARTNERS Chartered Accountants

Page 2

ALLERTON RESEARCH AND EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Restricted Funds Funds INCOME AND EXPENDITURE INCOME Activities in furtherance of the charity's objects Farm income 199,233 - Farm subsidies 93,386 - Lectures and tours 15,925 - Research contracts and grants 463,740 140,792 772,284 140,792 Investment income Dividends and interest 50,607 - Estate income 102,569 - 153,176 - Other income 101,792 - Total incoming resources 1,027,252 140,792 EXPENDITURE Activities in furtherance of the charity's objects Research project 480,079 151,000 Farm direct costs 196,146 - Farm overheads 54,975 - 731,200 151,000 Other Expenditure Estate expenses 80,542 - Farm management and admin 9,310 - Total resources expended 821,052 151,000 Net income/(expenditure) before transfers 206,200 (10,208) Transfers between funds - - Net income/(expenditure) for the year before investment gains 206,200 (10,208) Gains / (losses) on investments Realised - - Unrealised - - 206,200 (10,208) Transfers between funds - - Net movement in funds 206,200 (10,208) Fund balances brought forward 306,280 151,000 Fund balances carried forward £512,480 £140,792	Endowment Funds - - - - - - - - - - 10,501 - - 10,501 4,150 - 14,651 (14,651) - (14,651) (22,912) (216,403) (253,966) - (253,966) 5,115,813 £4,861,847	Total 2022 199,233 93,386 15,925 604,532 913,076 50,607 102,569 153,176 101,792 1,168,044 641,580 196,146 54,975 892,701 84,692 9,310 986,703 181,341 - 181,341 (22,912) (216,403) (57,974) - (57,974) 5,573,093 £5,515,119	Total 2021
			134,175 104,772 12,415 545,741
			797,103
			32,503 112,029
			144,532
			66,469
			1,008,104
			541,137 168,918 29,352
			739,407 98,945 7,613
			845,965
			162,139 -
			162,139 65,616 180,730
			408,485 -
			408,485 5,164,608
			£5,573,093

Page 3

ALLERTON RESEARCH AND EDUCATIONAL TRUST BALANCE SHEET

AS AT 31 DECEMBER 2022

FIXED ASSETS Tangible assets Note 2 Investments Note 3 Endowment Fund A Endowment Fund B Other CURRENT ASSETS Stock Note 4 Debtors Note 5 Cash at bank and in hand CREDITORS: Amounts falling due within one year Note 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amounts falling due after more than one year Note 7 NET ASSETS Representing: CAPITAL FUNDS Endowments Note 8 INCOME FUNDS Restricted funds Unrestricted Funds TOTAL CAPITAL AND RESERVES	2022 2,500,961 - 2,787,354 500 2,787,854 5,288,815 217,268 484,736 469,248 1,171,252 766,369 404,883 5,693,698 178,579 £5,515,119 4,861,847 140,792 512,480 £5,515,119	2021	2021
	- 2,787,354 500 217,268 484,736 469,248 1,171,252 766,369	2,264,776 767,799 500 142,361 500,844 174,044 817,249 645,390	2,560,507 3,033,075
			5,593,582 171,859
			5,765,441 192,348
			£5,573,093
			5,115,813 151,000 306,280
			£5,573,093

Page 4

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2022

1. ACCOUNTING POLICIES

a. Basis of Accounting

The Accounts have been prepared under the historical cost convention, modified for the revaluation of investments, and in accordance with the Charities Act 2011 and applicable accounting standards. In preparing the accounts the Trust follows best practice as set out on Charities SORP FRS 102 issued in January 2019.

b. Income

Income is accounted for on the receivable basis, provided that it is known with reasonable certainty that an item of income will be received and it can be measured with sufficient reliability. Where relevant, income is stated net of Value Added Tax. Otherwise no expenditure is netted off against income.

c. Expenditure

Resources expended are allocated to the appropriate headings on the Statement of Financial Activities. Where employees work on more than one area of the Trust's activities then the relevant costs are apportioned on the basis of the time spent.

d. Tangible Fixed Assets

Tangible fixed assets are depreciated on a straight line basis over their estimated useful economic lives using the following annual rates:

Freehold land Nil Buildings and improvements 1% to 4% Plant and equipment 10% to 33%

A nil rate is used for freehold land because the Trustees consider that its life is indefinite.

e.

Investments

Investments are carried in the Balance Sheet at market value. Unrealised gains on investments are shown in the Statement of Financial Activities and are credited to the funds in which the respective investments are held.

f. Farm stocks

Farm stocks are valued on the following basis:

Growing crops: At estimated cost. Stock in store: At the lower of cost and net realisable value. Crops in store and sheep: At estimated market value.

g. Liabilities

Liabilities are recognised when the Trust has a (legal or constructive) obligation arising as a result of past events.

h. Fund Accounting

Funds held by the Trust fall into the following four groups:

(i) Unrestricted General Fund

This consists of funds which can be used, at the discretion of the trustees, in accordance with the charitable objects of the Trust.

(ii) Research Fund

This fund consists of income which has been designated by the Trustees specifically for expenditure on certain research projects.

(iii) Restricted Funds

These are funds which can only be used for particular purposes within the objects of the Trust. Restrictions arise either when they are specified by the donor or when funds are raised for a specific purpose. In most cases the restriction is that the funds have to be spent on a specific research project or group of research projects.

(iv) Endowment Funds

These are capital funds which were created at the inception of the Trust. The income is available for the Trust's general purposes and (as explained in Note 10) some of the capital may also be spent for specific purposes.

h. Pension Costs

Contributions in respect of the Trust's defined contribution scheme are charged as expenditure in the period to which they relate.

i. Forestry Costs

Planting and similar costs, less grants received, are charged to expenditure in the year in which they are incurred.

Page 5

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) AS AT 31 DECEMBER 2022

2. TANGIBLE FIXED ASSETS

COST At 1 January 2022 Additions Disposals At 31 December 2022 DEPRECIATION At 1 January 2022 Charge for the year Disposals At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 3. INVESTMENTS Market value at 1 January 2022 Additions at cost Disposals at opening market value Unrealised losses on revaluation (Decrease) / increase in cash Market value at 31 December 2022 Cost at 31 December 2022 Cost at 31 December 2021	Freehold Land, Buildings & Improvements 2,998,556 5,795 - 3,004,351 583,138 38,275 - 621,413 £2,382,938 £2,415,418	Research Plant & Equipment 195,996 9,001 - 204,997 172,642 8,507 - 181,149 £23,848 £23,354 Portfolio 3,032,575 713,319 (792,522) (216,403) 50,385 £2,787,354 £2,625,891 £2,639,341	Farm Plant & Equipment 418,258 12,574 (14,900) 415,932 296,523 31,934 (6,700) 321,757 £94,175 £121,735 Other 500 - - - - £500 £500 £500	Total
				3,612,810 27,370 (14,900)
				3,625,280
				1,052,303 78,716 (6,700)
				1,124,319
				£2,500,961
				£2,560,507
				Total
				3,033,075 713,319 (792,522) (216,403) 50,385
				£2,787,854
				£2,626,391
				£2,639,841

Page 6

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED)

AS AT 31 DECEMBER 2022

4. STOCKS

STOCKS
Growing crops Stock in store Crops in store	2022 28,621 68,891 119,756 £217,268	2021 39,099 34,472 68,790	2021
		£142,361

5. DEBTORS Trade debtors VAT recoverable Other Debtors Loan to Scottish Demonstration Farm 6. CREDITORS: Amounts falling due within one year Mortgage Trade creditors Hire purchase Due to Game & Wildlife Conservation Trust Due to Game & Wildlife Conservation Trading Ltd Accruals and deferred income 7. CREDITORS: Amounts falling due after more than one Mortgage Hire purchase 8. ENDOWMENTS As at 1 January 2022 Net expenditure Realised gains on investments Unrealised gains on investments Transfer to unrestricted funds As at 31 December 2022	2022 95,424 18,761 80,551 290,000 £484,736 2022 16,534 122,404 - 594,849 116 32,466 £766,369 year 2022 178,579 - £178,579 Property Endowment Fund Fund 2,151,788 2,964,025 (14,651) - - (22,912) - (216,403) - - £2,137,137 £2,724,710	2021 98,441 6,165 106,238 290,000	2021
		£500,844
		2021 19,393 21,170 4,888 577,558 345 22,036	2021
		£645,390
		2021 192,348 -	2021
		£192,348
		Total
		5,115,813 (14,651) (22,912) (216,403) -
		£4,861,847

Page 7

ALLERTON RESEARCH AND EDUCATIONAL TRUST SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Income Project (p 8) Education 409,567 Research 233,366 Office and General 113,273 756,206 Estate (p9) Estate 38,260 Grazing 4,201 Woodland 916 ARET Shoot 58,100 Non-productive 111,128 212,605 Farm (p10) Farm 199,233 TOTAL £1,168,044		2022	Surplus/ (Deficit) 152,959 28,713 (50,395) 131,276 12,909 4,201 916 (722) 93,959 111,263 (61,198) £181,341		2021
		Expenditure 256,608 204,653 163,669 624,930 25,351 - - 58,822 17,169 101,342 260,431 £986,703		Income 289,960 319,557 47,611 657,128 34,459 4,542 916 37,750 131,743 209,410 134,175 £1,000,713	Expenditure 182,658 205,962 152,517 541,137 37,564 1,450 3,105 32,559 24,267 98,945 205,883 £845,965	Surplus/ (Deficit) 107,302 113,595 (104,906)
						115,991
						(3,105) 3,092 (2,189) 5,191 107,476
						110,465
						(71,708)
						£154,748

Page 8

ALLERTON RESEARCH AND EDUCATIONAL TRUST RESEARCH PROJECT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

FOR THE YEAR ENDED	31 DECEMBER 2022
INCOME Lectures and tours Research contracts and grants Donations Sponsorship Hire of community centre Investment income Sundry receipts EXPENDITURE EMPLOYEE COSTS Salaries and wages Pensions and life cover Recruitment and training VEHICLES AND TRAVEL COSTS Running costs and repairs Public transport Accommodation and subsistence RESEARCH PROJECTS AND FIELD WORK Direct costs of research projects OVERHEAD CHARGES AND MAINTENANCE Repairs and maintenance Loose tools and equipment Light and heat Rates and water ADMINISTRATIVE AND FINANCIAL EXPENSES Books, stationery and computer software Postage, telephone, printing and publications Meetings, conferences and public relations Audit and accountancy Legal and Professional fees Training courses Sundries Bank charges and loan interest Community centre expenses Recharge to GWCT Trust DEPRECIATION TOTAL EXPENDITURE NET EXPENDITURE TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT	2022 15,925 436,882 151,000 - 14,084 50,607 87,708 756,206 306,380 17,699 - 324,079 5,252 6,585 - 11,837 197,434 197,434 16,544 - 9,079 6,351 31,974 890 9,087 - 2,600 33,310 - 4,203 4,608 - (24,000) 30,698 28,908 28,908 624,930 131,276 £	2021
	15,925 436,882 151,000 - 14,084 50,607 87,708 306,380 17,699 - 5,252 6,585 - 197,434 16,544 - 9,079 6,351 890 9,087 - 2,600 33,310 - 4,203 4,608 - (24,000) 28,908	12,415 445,633 100,108 3,000 2,672 32,503 60,797 282,876 15,857 355 5,694 1,636 - 135,172 11,824 79 8,589 5,038 516 7,041 - 2,500 12,795 13,767 6,216 4,850 - - 26,332	657,128
			299,088 7,330 135,172 25,530 47,685 26,332
			541,137
			115,991 £

Page 9

ALLERTON RESEARCH AND EDUCATIONAL TRUST ESTATE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

FORESTRY Sale of timber Woodland grants Staff costs Maintenance and management Depreciation RENTAL ACCOUNT Cottage rents Other rent Grazing rent Repairs and maintenance Staff costs Legal and professional fees Depreciation Other costs SHOOT Shoot income Shoot income (prior year) Shoot expenses (including recharged salaries) OTHER INCOME AND EXPENDITURE Single Payment Countryside Stewardship Donation / Sponsorship Solar power receipts Sponsorship and other income Staff costs Stewardship costs Hire of machinery Depreciation Other costs NET INCOME TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT	2022 - 916 - - - 916 38,260 16,650 2,638 (17,706) - - (7,573) (72) 32,197 58,100 - (58,822) (722) 49,112 44,274 - 2,655 - - (14,315) - (2,854) - 78,872 111,263 £	2021	2021
	- 916 - - - 38,260 16,650 2,638 (17,706) - - (7,573) (72) 58,100 - (58,822) 49,112 44,274 - 2,655 - - (14,315) - (2,854) -	- 916 - (3,075) (30) 34,459 12,000 2,979 (30,787) (2,200) - (6,940) 913 37,750 7,391 (32,559) 59,528 45,244 - 2,371 14,163 (18,000) (2,074) - (2,854) (1,339)	(2,189) 10,424 12,582 97,039
			£117,856

Page 10

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2022

ARABLE INCOME Oil seed rape Winter barley Winter wheat Beans Oats Less: COST OF SALES Valuation at 1 January 2022 Cultivation Less: Valuation at 31 December 2022 GROSS MARGIN (Page 11) OTHER INCOME Sundry income Less: DIRECT EXPENSES Valuation at 1 January 2022 Labour (Page 12) Other direct costs (Page 12) Less: Valuation at 31 December 2022 Less: OVERHEAD EXPENSES Overhead costs (Page 12) Recharged to other cost centres (Page 13) Depreciation (Page 12) Profit on disposal (Page 12) FARM (DEFICIT) FOR THE YEAR	2022 24,075 24,785 115,861 9,705 23,623 198,049 198,049 138,998 133,314 272,312 (212,999) 59,313 138,736 1,184 139,920 3,363 69,779 67,960 141,102 (4,269) 136,833 3,087 27,903 - 39,382 (3,000) 64,285 (61,198) £	2021 14,494 11,685 49,678 14,431 37,746 128,034 128,034 103,696 89,616 193,312 (138,998) 54,314 73,720 6,141 79,861 4,907 59,767 53,293 117,967 (3,363) 114,604 (34,743) 22,396 (21,400) 37,052 (1,083) 36,965 (71,708) £
	24,075 24,785 115,861 9,705 23,623 138,998 133,314 272,312 (212,999) 3,363 69,779 67,960 141,102 (4,269) 27,903 - 39,382 (3,000)	14,494 11,685 49,678 14,431 37,746 103,696 89,616 193,312 (138,998) 4,907 59,767 53,293 117,967 (3,363) 22,396 (21,400) 37,052 (1,083)

Page 11

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM GROSS MARGINS FOR THE YEAR ENDED 31 DECEMBER 2022

Opening Valuation ARABLE Output Wheat (49,500) Barley (12,000) Rape - Beans (3,240) Oats (4,050) (68,790) Variable Costs Seeds (453) Fertiliser (19,855) Sprays (10,801) Selling, haulage and sundries Growing crops (39,099) (70,208) ARABLE GROSS MARGIN TOTAL (£138,998)	Sales/ (Purchases) 115,861 24,785 24,075 9,705 23,623 198,049 (21,395) (69,025) (37,649) (5,245) - (133,314) £64,735	Closing Valuation 94,500 20,700 3,825 731 119,756 1,873 53,474 9,275 28,621 93,243 £212,999	Income/ (Expenditure) 160,861 33,485 24,075 10,290 20,304 (19,975) (35,406) (39,175) (5,245) (10,478)	2022 249,015 (110,279) 138,736 £138,736	2021 64,828 23,685 14,494 17,671 24,583
					145,261
					(26,010) (22,749) (33,580) (2,498) 13,296
					(71,541)
					73,720
					£73,720

Page 12

ALLERTON RESEARCH AND EDUCATIONAL TRUST DETAILS OF FARM EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2022

LABOUR Salaries and wages Pensions and life cover DIRECT COSTS Implement repairs Fuel & oil Vehicle tax & insurance Contractors and equipment hire Recycling expenses Light and Heat OVERHEAD COSTS Countryside stewardship expenditure Rent, rates & water Repairs Insurance Sundries Professional fees Telephone Bank charges Interest payable DEPRECIATION Buildings and land improvements Plant & machinery (Profit) on disposal RECHARGED TO OTHER COSTS CENTRES Recharged to other cost centres	2022 64,253 5,526 £69,779 11,633 14,382 1,728 31,305 2,681 6,231 £67,960 - 4,223 6,252 1,164 6,954 5,788 533 206 2,783 £27,903 13,558 25,824 (3,000) £36,382 £-	2021 61,579 (1,812) £59,767 22,672 14,020 6,184 8,999 - 1,418 £53,293 - 4,074 4,175 3,969 2,565 3,962 787 118 2,746 £22,396 14,005 23,047 (1,083) £35,969 (£21,400)