2024-12-31-accounts

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Charity No. 1010814

ALLERTON RESEARCH AND EDUCATIONAL TRUST

STATEMENT OF ACCOUNTS

31 DECEMBER 2024

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 2024

Unrestricted Restricted Funds Funds INCOME AND EXPENDITURE Activities in furtherance of the charity's objects Farm income 114,596 - Farm subsidies 105,016 - Lectures and tours 174,576 - Research contracts and grants 446,221 153,741 840,409 153,741 Investment income Dividends and interest 95,789 - Estate income 380,799 - 476,588 - Other income 83,599 - Total incoming resources 1,400,596 153,741 EXPENDITURE Activities in furtherance of the charity's objects Research project 603,065 142,645 Farm direct costs 223,616 - Farm overheads 90,757 - 917,438 142,645 Other Expenditure Estate expenses 168,532 - Farm management and admin 11,684 - Total resources expended 1,097,654 142,645 Net income/(expenditure) before transfers 302,942 11,096 Transfers between funds - - Net income/(expenditure) for the year before investment gains 302,942 11,096 Gains on investments Realised - - Unrealised - - 302,942 11,096 Transfers between funds - - Net movement in funds 302,942 11,096 Fund balances brought forward 612,490 142,645 Fund balances carried forward £915,432 £153,741	Endowment Funds - - - - - - - - - - 10,725 - - 10,725 4,150 - 14,875 (14,875) - (14,875) 48,349 211,740 245,214 - 245,214 4,969,892 £5,215,106	Total 2024 114,596 105,016 174,576 599,962 994,150 95,789 380,799 476,588 83,599 1,554,337 756,435 223,616 90,757 1,070,808 172,682 11,684 1,255,174 299,163 - 299,163 48,349 211,740 559,252 - 559,252 5,725,027 £6,284,279	Total 2023
			194,092 98,299 85,443 615,495
			993,329
			60,437 139,322
			199,759
			107,781
			1,300,869
			774,809 284,113 54,116
			1,113,038 88,855 11,764
			1,213,657
			87,212 -
			87,212 10,619 112,077
			209,908 -
			209,908 5,515,119
			£5,725,027

Page 3

AS AT 31 DECEMBER 2024

ALLERTON RESEARCH AND EDUCATIONAL TRUST BALANCE SHEET

2024 2,338,874 3,837,167 500 3,837,667 6,176,541 106,865 437,604 250,858 795,327 546,023 249,304 6,425,845 141,566 £6,284,279 5,215,106 153,741 506,862 408,570 915,432 £6,284,279	2023	2023
3,837,167 500 106,865 437,604 250,858 795,327 546,023 506,862 408,570	2,949,656 500 144,295 475,751 280,192 900,238 683,893 612,490 -	2,720,669 2,950,156
		5,670,825 216,345
		5,887,170 162,143
		£5,725,027
		4,969,892 142,645 612,490
		£5,725,027

Page 4

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2024

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 2024

2. TANGIBLE FIXED ASSETS

COST At 1 January 2024 Additions Disposals At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for the year Disposals At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 3. INVESTMENTS Market value at 1 January 2024 Additions at cost Disposals at opening market value Unrealised losses on revaluation (Decrease) / increase in cash Market value at 31 December 2024 Cost at 31 December 2024 Cost at 31 December 2023	Freehold Land, Buildings & Improvements 3,019,678 74,067 (400,000) 2,693,745 657,031 36,235 - 693,266 £2,000,479 £2,362,647	Research Plant & Equipment 274,052 37,687 (7,500) 304,239 183,730 11,296 (7,500) 187,526 £116,713 £90,322 Portfolio 2,949,656 1,834,025 (1,161,766) 211,740 3,512 £3,837,167 £3,515,864 £2,724,745	Farm Plant & Equipment 577,131 5,353 - 582,484 309,431 51,371 - 360,802 £221,682 £267,700 Other 500 - - - - £500 £500 £500	Total
				3,870,861 117,107 (407,500)
				3,580,468
				1,150,192 98,902 (7,500)
				1,241,594
				£2,338,874
				£2,720,669
				Total
				2,950,156 1,834,025 (1,161,766) 211,740 3,512
				£3,837,667
				£3,516,364
				£2,725,245

Page 6

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) AS AT 31 DECEMBER 2024

4. STOCKS

Growing crops Stock in store Crops in store 5. DEBTORS Trade debtors VAT recoverable Other Debtors Loan to Scottish Demonstration Farm 6. CREDITORS: Amounts falling due within o Mortgage Trade creditors Due to Game & Wildlife Conservation Trust Accruals and deferred income 7. CREDITORS: Amounts falling due after m Mortgage 8. ENDOWMENTS As at 1 January 2024 Net expenditure Realised gains on investments Unrealised gains on investments As at 31 December 2024	ne year ore than one year Property Fund 2,122,486 (4,150) - - £2,118,336	2024 41,262 26,158 39,445 £106,865 2024 207,357 8,089 222,158 - £437,604 2024 20,666 148,226 158,238 218,893 £546,023 2024 141,566 £141,566 Endowment Fund 2,847,406 (10,725) 48,349 211,740 £3,096,770	2023 19,774 39,186 85,335
			£144,295
			2023 104,703 3,476 77,572 290,000
			£475,751
			2023 16,874 173,048 385,460 108,511
			£683,893
			2023 162,143
			£162,143
			Total
			4,969,892 (14,875) 48,349 211,740
			£5,215,106

9. DESIGNATED FUNDS

The Legacy Reserve Fund was designated in 2024 out of the charity's share of the sale proceeds of a property received as a legacy.

Page 7

ALLERTON RESEARCH AND EDUCATIONAL TRUST SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Project (p 8) Education Research Office and General Estate (p9) Estate Grazing Woodland ARET Shoot Non-productive Gosfield Wood sale Farm (p10) Farm TOTAL		2024	Surplus/ (Deficit) 232,312 (6,339) (28,542) 197,431 (10,935) 2,328 1,724 25,444 80,770 213,862 313,193 (211,461) £299,163		2023	Surplus/ (Deficit) 67,058 66,449 (39,160) 94,347 23,592 2,818 916 (1,086) 122,525 - 148,765 (155,900) £87,212
	Income 553,989 204,701 195,176 953,866 45,796 2,328 916 86,683 136,291 213,862 485,875 114,596 £1,554,338	Expenditure 321,677 211,040 223,718 756,436 56,731 - (808) 61,239 55,520 - 172,682 326,057 £1,255,175		Income 447,334 272,853 148,969 869,156 43,789 3,891 916 55,817 133,208 - 237,621 194,092 £1,300,869	Expenditure 380,276 206,404 188,129 774,809 20,197 1,073 - 56,903 10,683 - 88,856 349,992 £1,213,657

Page 8

ALLERTON RESEARCH AND EDUCATIONAL TRUST RESEARCH PROJECT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

2024 174,576 490,382 109,580 1,000 16,503 95,729 66,096 953,866 417,177 28,090 2,571 447,838 5,453 10,833 16,286 186,332 186,332 42,306 6,168 8,906 57,380 692 8,827 5,100 14,313 23,541 4,577 (38,480) 18,570 30,029 30,029 756,435 197,431 £	2023	2023
174,576 490,382 109,580 1,000 16,503 95,729 66,096 417,177 28,090 2,571 5,453 10,833 186,332 42,306 6,168 8,906 692 8,827 5,100 14,313 23,541 4,577 (38,480) 30,029	85,443 505,915 109,580 - 33,434 60,437 74,347 395,943 26,797 1,489 8,081 9,609 257,532 24,590 6,648 6,049 630 8,304 5,550 35,248 11,996 4,635 (50,000) 21,708	869,156
		424,229 17,690 257,532 37,287 16,363 21,708
		774,809
		94,347 £

Page 9

ALLERTON RESEARCH AND EDUCATIONAL TRUST ESTATE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Woodland grants Maintenance and management RENTAL ACCOUNT Cottage rents Other rent Grazing rent Repairs and maintenance Depreciation Other costs SHOOT Shoot income Shoot expenses (including recharged salaries) OTHER INCOME AND EXPENDITURE Investment income Single Payment Countryside Stewardship Solar power receipts Sponsorship and other income Staff costs Stewardship costs Depreciation Other costs Non reclaimable VAT Consultancy Legal & Professional Profit on disposal of fixed assets NET INCOME TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT	2024 916 808 1,724 45,796 16,800 2,328 (46,903) (8,744) (1,084) 8,193 86,683 (61,239) 25,444 60 29,373 75,643 9,573 4,841 (34,947) (609) (3,053) (1,501) (7,898) (4,451) (3,061) 213,862 277,832 313,193 £	2023	2023
	916 808 45,796 16,800 2,328 (46,903) (8,744) (1,084) 86,683 (61,239) 60 29,373 75,643 9,573 4,841 (34,947) (609) (3,053) (1,501) (7,898) (4,451) (3,061) 213,862	916 - 43,789 16,800 2,328 (12,961) (8,308) - 55,817 (56,903) - 39,279 59,020 19,290 382 - (7,170) (3,513) - - - - -	916 41,648 (1,086) 107,288
			£148,766

Page 10

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2024

ARABLE INCOME Oil seed rape Winter barley Winter wheat Beans Oats Less: COST OF SALES Valuation at 1 January 2024 Cultivation Less: Valuation at 31 December 2024 GROSS MARGIN (Page 11) OTHER INCOME Sundry income Less: DIRECT EXPENSES Valuation at 1 January 2024 Labour (Page 12) Other direct costs (Page 12) Less: Valuation at 31 December 2024 Less: OVERHEAD EXPENSES Overhead costs (Page 12) Depreciation (Page 12) Profit on disposal (Page 12) FARM (DEFICIT) FOR THE YEAR	2024 - 12,308 66,841 - 32,312 111,461 111,461 142,408 64,226 206,634 (106,157) 100,477 10,984 3,135 14,119 1,886 43,490 78,470 123,846 (707) 123,139 (109,020) 45,485 56,956 - 102,441 (211,461) £	2023 1,937 45,060 117,113 4,478 4 168,592 168,592 212,999 75,457 288,456 (142,408) 146,048 22,544 25,500 48,044 4,269 68,812 66,870 139,951 (1,886) 138,065 (90,021) 35,106 50,244 (19,470) 65,880 (155,901) £
	- 12,308 66,841 - 32,312 142,408 64,226 206,634 (106,157) 1,886 43,490 78,470 123,846 (707) 45,485 56,956 -	1,937 45,060 117,113 4,478 4 212,999 75,457 288,456 (142,408) 4,269 68,812 66,870 139,951 (1,886) 35,106 50,244 (19,470)

Page 11

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM GROSS MARGINS FOR THE YEAR ENDED 31 DECEMBER 2024

Opening Valuation ARABLE Output Wheat (52,155) Barley (2,730) Rape - Beans (4,950) Oats (25,500) (85,335) Variable Costs Seeds (2,579) Fertiliser (20,397) Sprays (14,323) Selling, haulage - and sundries - Growing crops (19,774) (57,073) ARABLE GROSS MARGIN TOTAL (£142,408)	Sales/ (Purchases) 66,841 12,308 - - 32,312 111,461 (19,729) (20,718) (20,034) (3,745) - (64,226) £47,235	Closing Valuation 26,880 3,479 - - 9,086 39,445 - 13,108 12,342 - - 41,262 66,712 £106,157	Income/ (Expenditure) 41,566 13,057 - (4,950) 15,898 (22,308) (28,007) (22,015) - (3,745) 21,488	2024 65,571 (54,587) 10,984 £10,984	2023 74,768 27,090 1,937 5,603 24,773 134,171 (18,918) (42,142) (34,768) (6,952) (8,847) (111,627) 22,544 £22,544

Page 12

ALLERTON RESEARCH AND EDUCATIONAL TRUST DETAILS OF FARM EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2024

LABOUR Salaries and wages Contract staff Pensions and life cover DIRECT COSTS Implement repairs Fuel & oil Vehicle tax & insurance Contractors and equipment hire 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	2024 26,101 15,158 2,231 £43,490 9,109 8,226 4,457 46,366 10,312 £78,470 650 7,790 8,266 7,149 9,946 5,212 887 148 5,437 £45,485 13,415 43,541 - £56,956	2023 64,782 - 4,030 £68,812 5,730 11,006 5,165 29,886 15,083 £66,870 3,075 4,737 3,371 5,987 6,172 5,834 519 230 5,181 £35,106 12,787 37,457 (19,470) £30,774