**Charity number: 1076275**
## **BUXTON CONSERVATION TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **BUXTON CONSERVATION TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4|
|**Statement of financial activities**|5|
|**Balance sheet**|6|
|**Notes to the financial statements**|7 - 14|
## **BUXTON CONSERVATION TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025**
## **Trustees**
D D Marris, Chairman A J F Buxton H G Cator
## **Charity registered number**
1076275
## **Principal office**
Hill House Carlton Newmarket Suffolk CB8 9JY
## **Accountants**
MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ
## **Investment Advisors**
Barratt & Cooke 5 Opie Street Norwich Norfolk NR1 3DW
Page 1
## **BUXTON CONSERVATION TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2024 to 31 March 2025.
## **Objectives and activities**
## **a. Policies and objectives**
The charity's objects are to manage and enhance the Stiffkey Wildlife Reserve.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity's aims and objectives. Minimizing the disturbance of wildlife habitat is a key tenet of the charity's conservation efforts and public access would contravene the charity's objectives. However, significant areas of the reserve are viewable by the public at all times, and without charge, from Public and Permissive footpaths. The reserve is also visited by school children and people undertaking research into a wide range of ecological, environmental and conservation subjects.
There have been no changes in the objectives since the last annual report.
## **b. Activities undertaken to achieve objectives**
Activities for achieving the objectives of the charity continue to be the management of the Stiffkey Wildlife Reserve along strict conservation principles. There have been no new activities.
## **Achievements and performance**
## **a. Main achievements of the charity**
The assets of the charity are invested in a portfolio of listed investments generating income totalling **£24,155** _(2024 - £24,208)_ which contributed towards the costs of conservation activities during the year.
## **b. Review of activities**
Income in the year exceeded expenditure by £10,694 however, investment losses of £16,047 gave rise to a net deficit for the year of **£5,353** ( _2024 - £23,437_ net surplus). The value of the investment portfolio stood at **£884,494** _(2024 - £901,297)_ at 31 March 2025. The Trustees consider that the financial position of the charity is satisfactory.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
The Trustees are conscious of the current need to maintain unrestricted reserves sufficient to meet planned as well as unforeseen fluctuations in income and expenditure and aim to maintain a cash balance of £10,000 in the bank account at all times. As at 31 March 2025 unrestricted funds totalled **£65,053** _(2024 - £53,903)_ .
Page 2
## **BUXTON CONSERVATION TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Structure, governance and management**
## **a. Constitution**
Buxton Conservation Trust is a registered charity, number 1076275, and is constituted under a Trust deed.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Plans for future periods**
The substantial developments at the outset have now been completed, and no further plans (other than maintenance) are required.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **D D Marris**
Date: 23 June 2025
Page 3
## **BUXTON CONSERVATION TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Independent examiner's report to the Trustees of Buxton Conservation Trust ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 23 June 2025
Frank Shippam BSc FCA DChA
## **MA Partners LLP**
Chartered Accountants
Page 4
## **BUXTON CONSERVATION TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income from:**
Investments
2
Other income
3
**Total income**
**Expenditure on:**
Charitable activities
4
**Total expenditure**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
10
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**46,809**
**62**
**46,871**
**35,421**
**35,421**
**-**
**11,450**
**53,603**
**11,450**
**65,053**|**Restricted**
**funds**
**2025**
**£**
**-**
**-**
**-**
**756**
**756**
**(16,047)**
**(16,803)**
**1,126,297**
**(16,803)**
**1,109,494**|**Total**
**funds**
**2025**
**£**
**46,809**
**62**
**46,871**
**36,177**
**36,177**
**(16,047)**
**(5,353)**
**1,179,900**
**(5,353)**
**1,174,547**|_Total_
_funds_
_2024_
_£_
_46,208_
_62_|
|---|---|---|---|---|
|||||_46,270_
_60,512_|
|||||_60,512_
_37,679_|
|||||_23,437_
_1,156,463_
_23,437_|
|||||_1,179,900_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 14 form part of these financial statements.
Page 5
## **BUXTON CONSERVATION TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
**Fixed assets**
Tangible assets
6
Investments
7
**Current assets**
Debtors
8
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**11,363**
**40,701**
**52,064**
**(2,568)**|**2025**
**£**
**240,557**
**884,494**
**1,125,051**
**49,496**
**1,174,547**
**1,109,494**
**65,053**
**1,174,547**|_21,961_
_17,583_
_39,544_
_(1,596)_|_2024_
_£_
_240,655_
_901,297_|
|---|---|---|---|---|
|||||_1,141,952_
_37,948_|
|||||_1,179,900_
_1,126,297_
_53,603_|
|||||_1,179,900_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
## **D D Marris**
Date: 23 June 2025
The notes on pages 7 to 14 form part of these financial statements.
Page 6
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Buxton Conservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.5 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 7
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies (continued)**
## **1.5 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Freehold property Not depreciated - Plant and machinery 15% reducing balance
## **1.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
## **1.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.9 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **1.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 8
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Investment income
24,155
Rents receivable
22,000
HMRC interest
654
46,809|**Total**
**funds**
**2025**
**£**
**24,155**
**22,000**
**654**
**46,809**|_Total_
_funds_
_2024_
_£_
_24,208_
_22,000_
_-_|
|---|---|---|
|||_46,208_|
## **3. Other incoming resources**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2025**|**2025**|_2024_|
||**£**|**£**|_£_|
|Wayleaves|62|**62**|_62_|
## **4. Analysis of expenditure by activities**
|Charitable activities
_Total 2024_|**Activities**
**undertaken**
**directly**
**2025**
**£**
23,000
_42,500_|**Support**
**costs**
**2025**
**£**
13,177
_18,012_|**Total**
**funds**
**2025**
**£**
**36,177**
_60,512_|_Total_
_funds_
_2024_
_£_
_60,512_|
|---|---|---|---|---|
||||||
Page 9
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **4. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Donations
Warden costs and contribution towards conservation activities
**Analysis of support costs**
Estate maintenance, insurance and drainage
Light and heat
Governance - accountancy
Professional fees
Sundry
Depreciation|**Total**
**funds**
**2025**
**£**
**500**
**22,500**
**23,000**
**Total**
**funds**
**2025**
**£**
**8,932**
**-**
**2,568**
**1,056**
**523**
**98**
**13,177**|_Total_
_funds_
_2024_
_£_
_-_
_42,500_|
|---|---|---|
|||_42,500_
_Total_
_funds_
_2024_
_£_
_10,435_
_1,067_
_2,508_
_3,414_
_473_
_115_|
|||_18,012_|
Page 10
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
## **6. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_|**Freehold**
**property**
**£**
**240,000**
**240,000**
**-**
**-**
**-**
**240,000**
_240,000_|**Plant and**
**machinery**
**£**
**2,732**
**2,732**
**2,077**
**98**
**2,175**
**557**
_655_|**Total**
**£**
**242,732**|
|---|---|---|---|
||||**242,732**|
||||**2,077**
**98**|
||||**2,175**|
||||**240,557**
_240,655_|
Page 11
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **7. Fixed asset investments**
|**Cost or valuation**
At 1 April 2024
Additions
Disposals
Revaluations
Transfers between classes
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_
**8.**
**Debtors**
Other debtors
**9.**
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**Listed**
**investments**
**Cash pending**
**investment**
**£**
**£**
**900,228**
**1,069**
**91,649**
**-**
**(102,439)**
**-**
**(23,879)**
**-**
**-**
**17,866**
**865,559**
**18,935**
**865,559**
**18,935**
_900,228_
_1,069_
**2025**
**£**
**11,363**
**11,363**
**2025**
**£**
**2,568**|**Total**
**£**
**901,297**
**91,649**
**(102,439)**
**(23,879)**
**17,866**
**884,494**
**884,494**
_901,297_
_2024_
_£_
_21,961_
_21,961_
_2024_
_£_
_1,596_|
|---|---|---|
Page 12
**BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**April 2024**
**£**
**Unrestricted funds**
General Funds
**53,603**
**Restricted funds**
Restricted Funds
**1,126,297**
**Total of funds**
**1,179,900**|**Income**
**£**
**46,871**
**-**
**46,871**|**Expenditure**
**£**
**(35,421)**
**(756)**
**(36,177)**|**Gains/**
**(Losses)**
**£**
**Balance at 31**
**March 2025**
**£**
**-**
**65,053**
**(16,047)**
**1,109,494**
**(16,047)**
**1,174,547**|
|---|---|---|---|
The restricted funds were all donated by the late Lord Buxton, in the form of land and buildings, the Stiffkey Wildlife Reserve, and stocks and shares. Income from these funds is to be treated as unrestricted, whereas the capital is to be retained unless it can be reinvested into a purpose compatible with the objects of the Buxton Conservation Trust. The donor had confirmed that the restricted funds could be utilised for unrestricted purposes if funds are needed in very exceptional circumstances.
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Funds
**Total of funds**|_Balance at_
_1 April 2023_
_£_
_67,071_
_1,089,392_
_1,156,463_|_Income_
_£_
_46,270_
_-_
_46,270_|_Expenditure_
_£_
_(59,738)_
_(774)_
_(60,512)_|_Gains/_
_(Losses)_
_£_
_-_
_37,679_
_37,679_|_Balance at_
_31 March_
_2024_
_£_
_53,603_|
|---|---|---|---|---|---|
||||||_1,126,297_|
||||||_1,179,900_|
Page 13
## **BUXTON CONSERVATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **11. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
557
Fixed asset investments
-
Current assets
67,064
Creditors due within one year
(2,568)
**Total**
65,053|**Restricted**
**funds**
**2025**
**£**
240,000
884,494
(15,000)
-
1,109,494|**Total**
**funds**
**2025**
**£**
**240,557**
**884,494**
**52,064**
**(2,568)**
**1,174,547**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_655_
_-_
_54,544_
_(1,596)_
_53,603_|_Restricted_
_funds_
_2024_
_£_
_240,000_
_901,297_
_(15,000)_
_-_
_1,126,297_|_Total_
_funds_
_2024_
_£_
_240,655_
_901,297_
_39,544_
_(1,596)_
_1,179,900_|
|---|---|---|---|
## **12. Related party transactions**
A J F Buxton, Trustee, is also a director of Stiffkey Farms Ltd, from whom the charity received rent of **£22,000** _(2024 - £22,000)_ during the year. The charity paid **£22,500** _(2024 - £42,500)_ to Stiffkey Farms Ltd in respect of a contribution towards the costs of its conservation activities during the year.
Page 14