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 Centr￿waS 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 spa￿S 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 though￿1 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 balan￿d 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 be￿een
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 reSoUr￿s, 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 reSoU￿es, 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 be￿een 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-

oury
OLDOO
(o co
Ln Ln ￿ ro
C£￿
c c o)

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
Dep￿cIatiOn
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
Bel￿een 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-