Charity registration number 1058565 (England and Wales) Company registration number 3254207 HAWK AND OWL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HAWK AND OWL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees P J Holms D C Missen M S Reader H C W Robinson DrA Mcculloch D Evans L Smart Chief Operations Director A Blumfield Charity number 1058565 Company number 3254207 Principal address Turf Moor Road Fakenham Norfolk NR219GN Registered office Turf Moor Road Fakenham Norfolk NR219GN Independent examiner Mapus- Smith & Lemmon LLP Kings Lynn England PE30 1 HE Bankers Royal Bank of Scotland 119-121 Victoria Street London SW1E 6RA Solicitors Birketts Kingfisher House 1 Gilders Ways Norwhich NR3 1UB
HAWKAND OWL TRUST CONTENTS Page Chairman's statement Trustees report Ind@pendent examiner's report Statement of financial activities Balance sheet Slatement of cash flows 10 Notes to the financial statements
HAWK AND OWL TRUST CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 This year has been one of continued progress for the Trust. The Trustees have given their support to an ambitious proposal for an integrated constructed wetland and new grassland habitat at Shapwick Moor. If planning approval is obtained. this project will fomi part of the Somerset Wetlands National Nature Reserve and be managed by the Hawk and Owl Trust for the benefrt of wildlife. Wessex Water, our partner, has now submitted a planning application. with construction anticipated to begin in summer 2026 and this will take approximately six months. This work will significantly enhance our existing contribution to the maintenance of the Avalon Marshes as a whole. in partnership with the RSPB. the Somerset Wildlife Trust and Natural England. Th8 marshes have bean described as one of the most important ecosystems in southem England and this project gives us a real chance to punch above our weight as well as preserving habitat for a range of owls and birds of prey. For visitors to Shapwick Moor. Éhis development presents a valuable opportunity to enhance the site'5 facilities. Although plans are still evolving. we aim to introduce new bird and badger hides. alongside an outdoor amphilheatre for educational and community activities. These improvements will enrich the experience for birdwatchers, nature enthusiasts, and local school groups. deepening their connection with the unique landscape of the Somerset Levels. In September 2024, the Trust concluded its involvement in the Hen Harrier Brood Management Trial, following the expiration of the current licence. This project, part of the DEFRA-led Hen Harrier Action Plan initiated in 2016. sought to support the recovery of hen harrier populations while balancing the needs of upland land management. After careful review of the project outcomes and the most recent scientific data, the decision was made to step back. While the Irial has achieved some notable successes-such as an increase in nests and breeding pairs- challenges remain, parlicularly high mortality rates and ongoing illegal persecution to which the Trust remains deeply opposed. Our 2024 Annual General Meeting was held in London and marked a significant milestone with the introduction of electronic voting. This innovation led to a substantial increase in member participation and engagement. Inlernally, the Trust has undergone some key transitions. Our Membership Officer successfully completed the migralion of our membership database lo a new system before announcing his retirement in November. His service, along with that of Carolyn Jenkins-who c&lebrat8d 10 y@ars at th8 Sculthorpe Visitor CentrwaS recognised at a staff event. We were also pleased to welcome Robert Bellhouse, a retired solicitor from Norwich, to the Board following the departure of long-serving TrLtstee Matthew Kimber to whom we would extend our thanks. Our land management activities continue to meet all contractual and conseNation obligations and aims. We are pleased lo report that Marsh Harriers bred successfully at both Sculthorpe and Shapwick once again this year. Volunteer support remains strong across all our sites, and overall membership numbers have increased. The "Adopt a Box" programm8 is currently undergoing a restructure. with a healthy number of boxes now in place across the UK providing vital nesting spaS for species such as Ihe barn owl. At Sculthorpe we have seen healthy numbers of visitors and continued dedication from the staff team despite the problems resulting from significant winter flooding. Looking ahead, the Trust-like many organisations-faces ongoing external pressures, especially cost pressures and the impact of climate Change. Nevertheless, our commttment to conservation remains steadfast. On behalf of the Board, I would like to thank all our members, volunteers, and supporters. Your continued dedication is what allows us to carry out this vital work. I would also like to extend partlGular thanks to all our donors. members and supporters ut whom our fantastic work to conserve birds of prey Could not continue. olms Interim Chair Date.. I ILI ioL(
HAWK AND OWL TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial stat8ments have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trusfs governing document, the Companies Act 2006 and °Accounting and R@porting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commancing from 1 January 2016) Objectives and a¢tivitles Hawk and Owl Trust's mission is to conserve wild birds of prey and their habitats and to encourage people to enjoy and understand these special birds. The charity's objects are to conserve wild birds of prey (Raptors) and Iheir habitats through conservation, research, and any other means and to undertake any activity which will enhance public education regarding Raptors. It carries this out by= Crealive conservation. Practical research. and Imaginative education The trustees have, in accordance with section 17{5) of the Charities Act 2011, had regards to the Charity Commission's guidan on public benefit. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. Strategic report The description under the headings "Achievements and perfomiance" and "Financial revie meet the company law requirements for the Trustees to present a stmtegic report. Achievements and performance Creative Conservation Creative Conservation remains at the heart of the Twst's mission, focused on the development. enhancement, and protection of high-quality nesting, roosting, and feeding habitats for raptors. Alongside the direct management of our reserves. our Conservation Officers and widar team collaborate extensively with landowners and partner organisations to realise these objectives. During the year ending 31 March 2025, the Trust successfully resumed standard operations despite ongoing economic and environment81 challenges. Where practical, nest box maintenance and monitoring activities w8re continued. The "Adopt a Box" scheme remains popular, and our Conservation Advice Service continues to be in strong demand-both of which are made possible through the continued support of a generous donor. At S¢ullhorpe Moor, Marsh Harriers returned to the site after a langthy absence. The past year also saw suocessfijl breeding activity among Barn Owls, Tawny Owls, Buzzards, and Red Kites. Beavers, reintroduced to the reserve in 2022, have continued to thrive, with staff and volunteers maintaining close observation of their habitat. Notably, two additional kits were bom during the year. At Shapwick, infrastructure and facilities have continued to develop through collaborative efforts as part of the National Nature Reserve programme. Volunteer engagement remains strong and plays a key role in advanclng our conservation goals. The Peregrine Outreach project also grew in scope, wilh the addition of two new monitoring sites in response to external requests for support. Practical Research The Trust upholds its commitment to practical, citizen-led research and species monitoring across its reserves. Evaluation of future research initiatives is ongoing, ensuring alignment with our conservation priorities.
HAWK AND OWL TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Education The Hawk and Owl Trnjst remains committed to engaging with educalors, students. and young people through a variety of oulreaGh methods. These include educational visits to our reseNes, interactive virtual sessions via platforms such as Zoom, and in-person school visits dalivered by our knowledgeabl@ staff. Inspiring the next generation to appreciate the critical role raptors play in healthy ecosystems is a cornerstone of our conservation mission. By fostering early awareness and understanding. we aim to nurture lifelong advocates for the protection of birds of prey and their natural habitats. Membership and AdoptA Box Our Metnbership and Adopt a Box schemes have continued to demonstrate stability over the past year, maintaining levels consistent with previous reporting periods. We remain deeply grateful for the unwavering support of our members and box adopters, whos& Contributions providè ess8nlial funding for our ongoing conservation work. Their loyalty is especially valued in the light of broader economic uncertainties. Our Volunteers Volunteers continue to be a vital force behind the Trust's activities. Their commitment and generosity of time and effort support every facet of our work-from reserve maintenance and spècies monitoring to public engagement and administrative support. The Trust is profoundly appreciative of this dedication. without which many of our achievements would not be possible. Bequests and Memorial Contributions Legacy giving and memorial donations play a powerful role in securing the long-term sustainability of the Trust's work. These though1 and often deeply personal gifts serve as enduring tributes to individuals who shared a passion for wildlife and conseNation. Over the past year. the Trust has been honoured to receive a numbar of such contribulions, for which we are sincerely grateful. These gifts not only fund vital projects but also help safeguard raptor habitats for generations to come. Financial review For the year ended 31 March 2025, the Trustees have Continued to apply sound financial management to ensure that the Trust's charitable aGtivities were approprialely resourced whilst maintaining adequate liquidity. At the reporting date, cash and bank deposits totalled £165,626. Total income for the year increased by 29 % compared with the prior year due primarily to growth in donations and legacies (an increasingly important source of revenue for the Trust). Total resources expended amounted to £714,937 (2024.. £634,200), with the principal increase arising from growth in expenditure on conservation and research aGlivities, together with provision recognised in respect of employment tribunal matters. Overall, therefore Ihe Trust was able to produce a positive net income in 2025 of £9,972 (2024: £(71,872)} The net movement in funds for the year resulled in total funds carried forward of £2,744,834 (2024: £2.734,862). Of this balance, unrestricted funds amounted to £477,040 (2024: £464,854) and reslricted funds amounted to £2,267,794 (2024: £2,270,008).
HAWK AND OWL TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees, Commentary and Reserves Policy The Truslees remain focused on ensuring the Trust's long-term financial sustainability and its ability to conlinue delivering its charitable aims. As at 31 March 2025. the Trust's balance sheet reflects some stability, with total funds of £2,744,834 (2024: £2.734,862). This comprises unrestricted reseNes of £477.040 {2024.' £464,854) and restricted reserves of £2,267,794 {2024." £2,270,008). Unrestricted reserves represent the charity's freely available funds. not subject to donor restrictions. The Trustees have adopted a reserves policy to safeguard financial resilience against unexpected events, income fluctuations, or cash flow delays. The policy requires holding unrestricted reserves equivalent to three to six months of core operating expenditure-currently a target range of £178,000 to £357,000. At 31 March 2025, unrestricted reserves stood at £477,040, above the target range. The Trustees consider this level appropriate, taking into account current commitments, fomard plans, and the wider economic climate. Restricted reserves continue to represent the majority of total funds and are designated for specific donor-funded projects. While these cannot be used for general operating costs, they enable the Trust to deliver key conservation and research priorities. During the year. the Trustees approved additional spending on conservation and research, in line with strategic objectives, and also made provision for employment tribunal matters. These decisions were taken with reference to the reserves policy and with a clear focus on maintaining financial resilience. Nonetheless, given that much of the year's increased income arose from two significant but non-recurring legacies, strict cost control remains essential. Overall. the Trustees are satisfied that the Trust remains in a secure financial position, with reserves at an appropriate level to support operations and manage identified risks. Careful financial management, combined with continued investment in conservation and research, provides confidence that the Trust is well placed to meèt its charitable objectives and deliver lasting public benefit in the years ahead. Investment policy The Board aéopts what it ¢onsid8rs to b8 a conservative investment policy, tsking professional advice before implementing any changes to its investment portrolio. In the light of the current uncertainties in financial markets and the potential need to contribute towards the acquisition of Sand at Sculthorpe, the bulk of Irusl funds are now held in bank deposits. When opportunities arise to diversify into a broader and baland spectrum of low risk investments, the trustees are likely to take the opportunity to do so. Strategic Aspirations Over the cours& of the year, the Board formally approved a series of strategic aspirations aligned with the Trust's three overarching strategic objectives. These aspirations are designed to be achievable within the current management capacity of the organisation and will be guided by a commitment to ethical integrity and the application of modern. evidence-based practices. Risk Management The trustees conduct a review of the charity's key risks every six months. Any identified risks are discussed and addressed through appropriate actions. Operational and business risk mitigation is overseen by the Chief Operations Director, who manages the internal control systems. Comprehensive procedures and policies have been established to manage risks, and these are subject to regular review and updates. Plans for future periods We are continuing the restructuring of our Adopt a Box and ConseNation services to ensure they are fit for the future. As our plans progress, we look forward to sharing updates with our supporters. We are currently awailing a decision on our Wessex Water application in relation to the Shapwick site and are actively exploring how this potential partnership could best support the Trust's mission.
HAWK AND OWL TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 strudure, governance and management The company is limited by guaranlee {registration number 3254207} incorporated on 24 September 1996 and regislered as a charity (registration number 1058565) on 24 November 1997. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- DrA Mcculloch P J Holms D C Missen M S Reader H C W Robinson PHPShaw M L Kimber E Arcese Dr A Mcculloch D Evans L Smart (Resigned 31 March 2025) (Resigned 31 March 2025) (Resigned 31 March 2025) A Blumfield also served during the year as Chief Operations Director. Recruitment, Appointment, Induction, and Training of Trustees All members of the charity are eligible to saek election to Ihe board of trustees. One-quarter of the trustees stand down each year on rotation and are eligible lo stand for re-election. New trustees receive an induction pack designed to provide them with an underslanding of their roles and responsibilities. They are also encouraged to visit the charity's key operational offices. An annual trustees. skills audit is carried out to help identify future requirements to ensure the board has the necessary skills. The expertise the board is looking for is promoted in the membership magazine. Peregrine. Organisation Th8 Trustees are responsible for the overall governance and strategic direction of the Trust. The board of the Trust consists of a maximum of twelve elected Trustees plus the Chief Operation Director. The board meets four tim@s per year. In between board meetings, two subcommittees meet. The Strategy and Governance Review Group, and the Finance and General Purposes Committee. The day to day operations of the Trust is managed by the Chief Operations Director. Key Management Personnel Key management personnel is considered to be the trustees (who are not remunerated), the Chief Operations Director, Adrian Blumfield. The pay and remuneration of the charity's key management personnel is fixed annually by the trustees having regard to performance and salary rates within the sector. There are no other formal parameters or criteria. Related parties There ar6 no related parties which either control or significantly influence thg d@cisions and operations of the Hawk and Owl Trust. The Trustee rt, including the slrategic report. was approved by Ihe Board of Trustees. PJHO Trustee Dated.. O+...................
HAWK AND OWL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAWK AND OWL TRUST I report to the Trustees on my examination of the financial statements of Hawk and Owl Twst (the trust) for the year ended 31 March 2025. Responslbllltles and basls of report As the Trustees of the trust (and also its directors for the purposes of company law), you are responsib18 for the preparation of the financial statements in accordan with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the trust's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b) of the Charities Act 2011. Independent examinefs statement Since the trust's gross income exceeded £250.000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me Gause to believe that in any material respect- accounting records were nol kept in resped of the trust as required by section 386 of the Companies Act 2006. the financial staterrtents do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements giv8 a true and fair view, which is not a matter considered as part of an independent examination- or Ihe financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper underslanding of the financial statements lo be reached. Sharon Edwards, F.C.A. Mapus- Smith & Lemmon LLP 48 King Street Kings Lynn PE30 1HE England
HAWK AND OWL TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities other trading 8Ctivities Investments Other income 354,753 117,115 141,966 1,729 7.370 50,000 51,976 404,753 169,091 141,966 1,729 7,370 291,298 105.745 116,006 1,249 4,963 291,298 148,812 116,006 1,249 4,963 43,067 Total income 622,933 101,976 724,909 519,261 43.067 562,328 Expenditure on: Raising funds Charitable activities 42,829 567,918 42,829 672,108 43,014 431,448 43.014 591,186 104.190 159,738 Total expenditure 610,747 104.190 714,937 474,462 159,738 634.200 Net incomel(expenditure) 12,186 (2,214) 9,972 44,799 (116,671) {71.872) Transfers beeen funds (147,218) 147,218 Net movement In funds 11 12,186 (2,214) 9,972 {102,419} 30,547 (71,872) Reconciliation of funds: Fund balances at 1 April 2024 464,854 2.270.008 2,734,862 567,273 2,239,461 2,806,734 Fund balances at 31 March 2025 477,040 2,267,794 2,744,834 464,854 2,270,008 2,734.862 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure deriva from continuing activities.
HAWK AND OWL TRUST BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Heritage assets 15 16 1.041.250 1.592,012 1,110,881 1,608,218 2.633.262 2,719,099 Current assets stocks Debtors Cash al bank and in hand 17 18 14.531 251,521 165.626 14.008 133,805 120,507 431,678 268,320 Creditors: amounts falling due wlthln one year 20 (95,560) {96,653) Net current assets 336,118 171,667 Total assets less current Ilabllltles 2,969,380 2,890,766 Creditors: amounts falling due after more than one year 21 (149,088) {155,904) Provision for other liabilities 22 175,458) Net assets 2,744,834 2,734,862 The funds of the trust Restricted income funds Unrestricted funds 25 26 2,267,794 477,040 2,270.008 464.854 2,744.834 2,734,862
HAWK AND OWL TRUST BALANCE SHEET {CONTINUED) AS AT 31 MARCH 2025 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial ststements for the year in question in acLordance with section 476. These financial statements have been prepared in accordano with the provisions applicable to companies subject to the small companies regime. The financial ments were approved by the Trustees on . I.ILI 2(V- PJH ms Trustee Company registration number 3254207 {England and Wales)
HAWK AND OWL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated froml{absorbed by) operations 31 66.534 {104,326) Investing actlvltles Purchase of tangible fixed assets Interest received (12,211) 1.729 {71,824) 1,249 Net cash used in investing activities {10,482) {70,575) Financing activities Proceeds of new bank loans Repayment of bank loans 75.000 (6,826) {10.933) Net cash {used in)Igenerated from financtng activities (10,933) 68,174 Net increasel(decrease} in cash and cash equivalents 45,119 {106,727) Cash and cash equivalents at beginning of year 120,507 227,234 Cash and cash equival8nts at end of year 165,626 120,507 10-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charity Informatlon Hawk and Owl Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Turf Moor Road, Fakenham, Norfolk, NR21 9GN. 1.1 Accounting convention The financial statements have been prepared in accordan with the trust's governing document, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in tha UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The trust is a PLtblic Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical Cost convention. The principal accounting policies adopted arè set out below. 1.2 Going concern At the time of approving the financial ststements, the Trustees have a reasonable expectstion that Ihe trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted fvnds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restrided funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Incoming resources Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounls can be measured reliably, and it is probable that income will be received. Donations and legacies Donations are recognised when the Charity has been notified in writing of both the amount and the settlement ate. In the event that a donation is subject to Conditions that require a level of performance by the Charity before the Charity is entitled to the funds. the income is deferred and not recognised until either those Conditions are fully met. or the fulfilment of those conditions is wholly within the Control of the Charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administratorl executor for the estate has communicated in writing both the amount and the settlement date. In the event that the gift is in the forni of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to Ihe value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the Charily. 11
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Donated services and facilities Volunteers carry out a wide range of tasks for the charity including conservation work such as habitat creations. manning stands at events and shows and assisting in the visitor centre. During the year volunteers contributed some 800 hours of work to the charity. Given the absence of a reliable measurement basis, the contributions of volunteers are not included as income in the accounts in accordance with the Charities SORP. Grants ceIVable Income from govemment and other grants, whether 'capital' or 'revenu@' grants, is accounted for using the perfomiance model. It is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred Investment income Interest is recognised once the interest has been declared and notificalion has been received of the interest due. 1.5 Resources expended All expenditure is recognised once there is a legal or constructive obligation to that expenditure. It is probable settlement is required and the amount can be measured reliably. All Costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis consistent with the use of reSoUrs, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attrading voluntsry income. the management of investments and those incurred in trading activities that raise fvnds. Charitable activities Charitable expenditure comprises those costs incurred by Ihe Charity iri the delivery of its aclivities and services for its beneficiaries. It included both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs These include the costs attributable to the Charity's compliance with constitutional and slatutory requirements, including audit, strategic movement and Trustee's meetings and reimbursed expenses. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of reSoUes, for example. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. 12-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (Continued) 1.6 Tangible fixed assets Individual fixed assets costing £250 or more are initially measured at cost and subsequently measured at Cost or valuation. net of depreciation and any impairment losses. Depreciation is r&cognis&d so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold property Plant and equipment Fixtures and fittings Equipment Motor vehicles Reserve infrastructure 2 % straight line 25 /0 Straight line 250/0 Straight line 250/¢ Straight line 25 % straight line 10 /0 Straight line A detailed review of the fixed assets was performed during the year. A number of assets have been reclassified as freehold propety and depreciation has been adjusted accordingly. The gain or loss arising on the disposal of an asset is detemiined as the difference beeen the sale proceeds and the carying value of the asset, and is recognised in the statement of financial activilies. 1.7 Heritage assets Heritage assets are assets of historsc or scientrfic importance that are held to advance the preservation, conservation and educational objectives of the charity and through public access contribute to the nation's culture and education at either a national or local level. Freehold nature reserves are included in heritage assets as the cost of acquisition. No depreciation is charged on heritage asset land as the reserves are considered to have an indefinite life. Where buildings are erected on heritage asset land, they are depreciated in accordance with normal accounting policies. The charity aims to acquire land, where available at reasonable cost, in order to preserve and enhance its nature reseNes, which are not held for their resale potential. All reserves are accessible to the public, unless temporarily closed to prevent disturbance to wildlife or for safety reasons. 1.8 Impairment of fixed assets At each reporting end dale, the trust reviews the carrying amounts of its tsngible assets to delermine whether there is any indication that those assets have suffered an impaimenl loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detennine the extent of the impairment loss (if any}. 1.9 stocks stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Net realisable valua is th@ estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 13-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.11 Financial instruments The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 10210 all of its financial instruments. Financial instruments are recognised in the trusvs balance sheet when the trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceabla right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequèntly carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable wilhin one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially r8cognis8d at transaction pric£ unless the arrangement constilutes a financing transaction, where the debl instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Gurrenl liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors ara recognised initially at transaction price and subsequently measured at amortised Cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or cancelled. 1.12 Taxation The Charity is exempt from tax8tlon in respect of income and capital gains tax received within categories by Chapter 3 Part 12 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 1.13 Provlslons Provisions are recognisad when tho trust has a legal or constructive present obligation as a result of a past event, it is probable that the trust will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value. the unwinding of the discount is recognised as a finance cost in net incomel(expenditure) in the period in which it arises. 14-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.14 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefrts are recognised immediately as an expense when the trust is demonstrably committed lo terminate the employment of an employee or to provide termination benefits. 1.15 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgemenls n the applicalion of the twst's aGcounting policies, the Trustees are required to make judgemenls, estimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and futur8 periods where the r8vision affacts both current and future periods. Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Legacies receivable Donated capital and stock items 108,234 246,519 50,000 158,234 246.519 107,975 178,323 107,975 178.323 5,000 5,000 354,753 50,000 404,753 291,298 291,298 Donations and gifts Donations from individuals Donations from Community groups 103,122 50,000 153.122 104,270 104.270 5,112 5,112 3,705 3,705 108,234 50,000 158,234 107,975 107,975 15-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable actlvlties 2025 2024 Subscriptions Grants receivable 169,091 147,832 980 169,091 148,812 Analysis by fund Unrestricted funds- general Restricted funds 117,115 51,976 169,091 For the year ended 31 March 2024 Unrestricted funds - general Restricted funds 105,745 43,067 148,812 Income from other trading activities Unrestricted Unrestrlcted funds funds 2025 2024 Shop income Sponsorships and social lotteries Other income 25,256 7.198 109.512 20,603 5,222 90.181 Other trading activities 141,966 116,006 Income from investments Unrestrlcted Unrestrlcled funds funds 2025 2024 Income from listed investments Interest receivable 38 1,691 33 1,216 1,729 1,249 16-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other Income Unrestricted Unrestricted funds funds 2025 2024 Royalties Other income Sale of sheep Renewable energy POD income 144 5.608 187 310 1,000 3.136 330 1.526 92 7,370 4.963 Expenditure on raising funds Unrestricted Unrestricted funds funds 2025 2024 Fundraising and publicity Seeking donalions, grants and legacies Staff costs Support costs 2,324 15,740 13,812 1,667 18,216 10,874 31.876 30,757 Trading costs OthGr Irading activities 10,953 12,257 Total costs 42,829 43,014 17-
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HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Support costs allocated to activities 2025 2024 staff costs Depreciation Operating lease charges Premises costs and general overheads Fundraising Governance costs 147,307 98,049 8,326 129,139 13,813 4,298 139,368 101,390 13,618 123,580 10,874 5,537 400,932 394,347 Analysed between: Fundraising Charitable activities 13,812 387,120 10.874 383.473 400.932 394,347 11 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting)'. Depreciation of owned tangible fixed assets Operating lease charges 81.843 8.326 85,185 13,618 12 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. Expenses amounting to £802 (2024: £1,763) were paid to 2 (2024.. 3) Trusteès in respect of travel costs and accommodation. 13 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Conservation and résearch Education Adminislration Membership services Total 19 20 19-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Employees {Continued) Employment Gosts 2025 2024 Wages and salaries Social security costs Other pension costs 308,385 23,700 16,322 307,864 22,346 14,939 348,407 345,149 The total employee benefits of the key management personnel for the Charity wer6 £65,773 (2024 - £63,177). The number of employees whose annual remuneration was more than £60,000 is as follows: 2025 Number 2024 Number £60,001 to £70,000 14 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. -20-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Heritsge assets Land and property At 1 April 2024 DepcIatiOn 1,608,218 {16,206} At 31 March 2025 1,592,012 The heritage assets are freehold land and property held at Shapwick {Somers8t), Fakenham and Sculthorpe (Norfolkl extending to some 151 hectares in total, which are used as nature reserves. 17 Stocks 2025 2024 Finished goods and goods for resale 14,531 14.008 18 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 8,132 5,677 237,712 3,302 9.803 120,700 251,521 133,805 19 Loans and overdrafts 2025 2024 Bank loans 159.952 170,885 Payable within one year Payable after one year 10,864 149,088 14,981 155,904 Amounts included above which fall due after five years- Payable by instalments 105,715 95,978 The long-term loans are secured over the land at Scullhorpe and Shapwick. -22-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Loans and overdrafts {Continued) Interest is charged on the bank loan at 3.670A above the bank's base rate. The bank loan has a maturity date of 8 September 2034. 20 Creditors: amounts falling due within one year 2025 2024 Notes Bank loans Other taxation and social security Deferred income Trade creditors Accruals 19 10.864 102 71,247 3,570 9.777 14,981 102 72,891 2,642 6,037 23 95,560 96,653 21 Credltors: amounts falling due after more than ona year 2025 2024 Notes Bank loans 19 149.088 155,904 22 Provisions for liabilities 2025 2024 Employment tribunal 75.458 Movements on provisions: Employment tribunal Additional provisions in the year 75,458 During the year, the Trust made provision for exceptional expenditure of £75,458 in respect of the total costs associated with an employment tribunal. 23 Deferred Income 2025 2024 Other deferred income 71,247 72,891 -23-
HAWKAND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Deferred income (Continued) Deferred income is included in the financial statements as follows: Membership subscriptions £71.247 <2024 - £72.891). 24 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 16,322 14,939 The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately froTn Ihose of the Irust in an independently administered fund. 25 Restricted funds The restricted funds of the Charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 East of England South West East Midlands 1.832,154 435,349 2,505 101,976 (103,284) 1906) 1,830,846 434,443 2,505 2.270,008 101,976 (104,190) 2,267,794 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 East of England South West East Midlands 1.946.737 290,219 2.505 43,067 {157,650) (2,088) 1,832,154 435,349 2.505 147,218 2,239,461 43.067 {159,738) 147,218 2,270.008 -24-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25 Restricted funds {Continued) East of En land includes the followin funds- Fen Land Appeal - Fund relates to monies raised for the purchase of land surrounding the existing reserve at Sculthorpe Moor. Peregrine Projects Trailer - Fund relates to the purchase of a trailer for the Peregrine monitoring station al the Norwich Cathedral. Holden Woods - Fund relates to a specific location, for specific breeds of raptor or for specific habitats. Donation provided for Adopt a Box conservation services South West includes the followin funds.. Shapwick Moor - Fund relates to a specific location. for specific breeds of raptor or for specific habitats. South West - Fund relales to a specific location, for specific breeds of raplor or for specific habitats. East Mid18nds includes the followin fund.. Easl Midlands - Funds relate to monies held on behaW of local groups working with the charity for the conseNation of all birds of prey and owls. 26 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incomlng resources Resources expended Transfers At 31 hlar¢h 2025 Gener81 funds 464,854 622,933 (610,747) 477,040 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 567.273 519.261 {474,462) {147,218) 464,854 In prior years, the Trustees made the decision to designate all unrestricted legacies & donations received to the Fen Project. -25-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27 Analysls of net assets botween funds Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Fund balances at 31 March 2025 are represented by.. Tangible assets Heritage assets Current asselsl{liabililies) Long term liabilities Provisions 417,972 623.278 1.592,012 52,504 1,041,250 1,592,012 336.118 257,029 (149,088) (155,904) (75,458) 451.596 659.285 1,608,218 (85.362) 1,110,881 1,608,218 171,667 {155,904) 283,614 (149.088) (75,458) 477,040 2,267,794 2,744,834 552,721 2,182,141 2,734,862 28 Operaling lease commitments Lessee At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2025 2024 Within one year Beleen two and five years 10.199 22.419 11,383 28.854 32.618 40.237 29 Related party transactions other than the expenses reimbursed to Trustees, as disclosed in note 12, there were no disclosable related party Iransactions during the year. 30 Charlty status The Charity is a company limited by guarantee and consequently does not have share capital. Each of the members if liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation. -26-
HAWK AND OWL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 31 Cash generated froml(absorbed by) operations 2025 2024 Surplusl{deficit) for the year 9,971 171,871} Adjustments for: Investment income recognised in statement of financial activilies Depreciation and impairment of tangible fixed assets {1.729) 98.049 {1,249} 101,390 Movements in working capital: {Increase)Idecrease in stocks {Increase) in debtors Increasel(decrease) in creditors {Decreasel in provisions {Decrease}lincrease in deferred income 1523) (117,716) 4,668 75,458 {1.644) 1,685 {83,583) {53,854) 3,156 Cash generated froml(absorbed by) operations 66.534 (104,326) 32 Analysis of changes in net fundsl(debt) At 1 Aprll 2024 Cash flowsAt 31 Mar¢h 2025 Cash at bank and in hand 120,507 45,119 165,626 Loans falling due within one year Loans falling due after more than one year (14,981) {155,904) 4,117 6,816 {10,864) {149,088) (50.378) 56,052 5,674 -27-