THE GREENSAND TRUST Charity Registration No. 1077055 Company Regislration No. 03702419 (England and Wdes) THE GREENSAND TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE GREENSAND TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Steven Smith Sally Hunt Gillian Sharp Sonnie Wing Simon Collier Patron Peter Smith MBE Chief Executive Gillian Welham Secretsry Gillian Vvelham harity number 1077055 Company numbèr 03702419 Principal address The Working Woodlands Centre Maultjen Wood Hayftes West End Bediord5hire MK45 3UZ Registered office The Working Woodlands Centre Maulden Wood Haynes West End 8edfordshire MK45 3UZ Auditor Mercer & Hole LLP The Pinnacle 110 Midsummer Boulevard Milton Keynes MK91BP THE GREENSAND TRUST CONTENTS Page Trustees report Ststement of trustees responsibilities Independent auditoffs report 10-12 Statement of financial activities 13-14 Balance sheet 15 Statement of cash flows 16 Notes to the financial statements 17-34 THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial statements for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing documents. the Companies Act 2006 and "Accounling 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 1021 {effe¢tive 1 January 20191" Objectives and activities The Greensand Trust is an independent environmentsl charity that works with local communities and12ndowners to conserve and enltance the distinctive landscape, wildlife and history of the Greensand Ridge and wider area. through environmental conservation, education and access. Our aim is lo raise awareness of this special landscape, improve access, understanding and enjoymenl of the area for the benefft of everyone and provide recreational frdcilities to improve people's wellbeing. VVTrat makes The Greensand Trust so effective is that it seeks to suslainably deliver environmental conservation for both people and wildlife. We aim to protect the landscape of the area, not just for wildlife - the plants and animals- but also for the benefit of people living in the area who want to explore. enjoy and understand their local enwronment. We rely on the support of local o)mmunities and visitors to help us. making sure that our loGal envsronment is sustained and prolected for communities of today and the future lo enjoy. The Greensand Trust would like lo Ihank ils dedicated team of staff and volunteers. partners and Gommunities. whose work enables these green$pa￿S to remain protected and accessible for all. Partnerships & Development Projects The G￿ensan￿ Trust recognises thal working in partnership with others helps increase what we can all achieve, plays to the strengths OT everyone and helps the area magnify ils voice to a higher level-"Environmental Partnership in Action" is more than just a strapline. il is an impo¢*ant way of wo￿l￿g. We work in pathership at all levels. including with national and ￿gIonal organisations as well as local partners. landowners. businesses and communities. Local Nature Recovery Strategies Lo&?[ N8tLsre Recovery Strategies (LNRS) are being developed across Ihe whole of England during 2tY24, to help snape how and where habitats will be created and reSt0￿d in the fvture. helping increase biodiversity, tackle climate ¢hange and improve our health and wellbeing. The Bedfordshire Local Nature Recovery Strategy is the responsibility of Central 8edfordshire Council as the 'Responsible Atrthority,, with the Trust playing a vital role through its position on the 8edfordshire Local Nature Partnership (LNPI. Having i3ken the lead in the earty stages, the Trust nelped build a slrong platform for engagement with and development of the LNRS and conlinues to be a key partner in the ongoing process. Part5h Green InfraStrUG￿r& Plans The Tnjst prodU￿S Paiish-level Green Infrastructure IGI) Plans to help local communitie5 ident￿4 what is important lo them in their environment. and what they wish to see improved. Gl Plans are often produced as part of a Neighbourhood Plan. which are an even wider ranging pl8n helping communities identify where they wish to see any development happen and how they would like lileir parish to be improved. We have worked with the ommunilies of Bafion-le-clay, Aspley Heath and Leighlon-Linslade on Gl Plans during the year, an Enwronmental Enharicement Plan for Wing in Buckinghamshire, and als¢ presenied lo a range Oi Others interested in the process. GreerEsand Country Thrcughout ihe year. the Greensand Country Landscape Partnersttip {GCLP) has been working to raise the profile of 'the Greensand Country area. We held our annual Festival in ￿LaY. with local communities experiencing the landscape's wilaltfe and history. Through a Heathland Avjareness Illieek. we promoied greater understanding and appreciaDon of the heathland habilais found across the Ridge. Through the Greensand Country Landscape Partnership. we ve been working wilh Tre Imildlife Trusi Beds. Cambs & Northenis to launch a new project-Putting Peat on the Map - focusing on improving our understanding of peat THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 along the River Flit in Bedfordshire. It is one of 13 projects sponsored by the Environment Agency's "Loviland Agriculture Peat Water Oiscovery Pilov looking aL England's lowland peat regions. W,istorically there We￿ significant wetland areas in BedfordshI￿,S Flit Valley with large deposits of peat, but only small fragrnenls remain of what we once much larger wetland lancis¢apes - to such an extent that not many people even know we have peal soils in the county- The project will set out to discover where the peat has survived focusing on nature reserves and valley mire habitats along the river. Field su(veys will help create an up-t041ate map of the condition of peat in the Flit Valley and assess hydrology and waler level management lo idenlify areas for Poiential fjJture peat conservation and management. Students at Cranfield University will be creating a National Capital Account to value the ecosystems from restored peat habitals. Projects were also launched to celebrate the area's rich cultural heritage, including a 'Monastic Heritage in Greensand County. resour￿ pack, and ts)ntributing to HistoriG England's'missing Pieces. to better record heritage assets for the fulure. We also contributed to a local landscape designation consultation to better ?rotect the Greensand Ridge in Milton Keynes. Supporting landthvners, farmers and local businesses is a key aspect of the GCLP'S remit. We launched our pilol project 'What's in thi5 field?, lo give farmers the tools lo interpret agricultural land and conserwation work. We also ran local business nehvorking sessions and created resources around EV charging to better support IoGal visitor attractions in securing funding and improving Iheir sustainabilty- Our volunteers have supported the GCLP trroughoul Ihe year. supporting the festival. engaging wf(h people at events. auditing routes and completing Duke of Edinburgh tasks. Upper and Bedford Ouse Cat¢hment Partnership The Trust has supported Bedfordshire Rural Communities Charity {8RCC) with the hosting of the Catchment Partnership throughout the year and has also led working groups for River Restoration and Volunteering. Additionally. the Trust supported a review of the Partnetship and the way it operates. seeknng to improve its profile and intluence. This ￿sUlted in the creation of new Chair and Vi¢trChair roles. the latter of which the Trust's Director of Development was elected to. Highlights o., the year for this partnership include co-organising the 'Walei. Water. Everywhere?, Conference on water resources and then a subsequent Msit &0 Spains Hall in Essex-iyhere the water level rnanagemerrt is helped in no small part by beavers. The Trust also organised a Water Quality Workshop in September. ￿'hICh was fcllci'ie up by securing funding for volunteer training, activity and equipment through Anglian Waterfs 'Get Rrver Positive. scheme. Environmental Education and Awareness Raising We 51rongly believe that Tncreasing awareness of our environment and the issues it faces are vital rf we are to achieve change. The Greensand Trust has a dedicated education team working to develop and deliver a range of educational and aw2reness-raising projects working wsth schools. youth groups. unifomed organisalions. play groups and adult groups. Over the year. the education team worked with over 1,300 young people. Our wonderful education volunleers also provided nearly 200 hours of their time in support. Many loe81 schools. with wham ive have built long-terrn relationships. retumed this year with new classes and other schoDls and groups joined us from fijrther aneld in Luton. Milton Keynes. and Dunstable lo visit and explore our local countryside. We also delivere& prograns and assemblies in sch¢)ols and hosted many otner events and aciivities during the holiday periods some of these in partnership with the Bedfordshire Natural History So¢iety IBNHSI. 8edfordshire Swift Group and viith Central Bedfordshire Council. The age rafige of those attending. and the sessions ihemselves, have been hugely varied and range from sand heritage studies viith year 3s. habitat Comparisons, bug hunting and pollinators to Ofienteering with year 6 and Christmas tree walks with early years groups. College students also joined us again for heathland studies and coursework at Rushmere Couniry Park. Highlighis ihis year include pupils visiting the Ilvorking Woodlands Centre and Maulden W¢xsd from Warden Hill Infants School in Lllton to experien￿ Lhe vioodland. For many children (and some staff and neipers) IL vffis an exating and valuable firsL experience of ihe countryside. Our 2023- 2024 Youth Rangers graduated in February. This year our young Rangers explored woodland. leamt THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 about. and monitored small mammals. and erected nest boxes for dormice in the wood. Their final celebration involved a gui¢Jed walk for parents. family, and friends lo sttare their experiences. Thi5 was led by the young people themselves where they were presented with their Discovery Level John Muir Award. The return of our WSE Wood programme was 8 great success, this time with a group of pupils from Woodlands Middle School in FIl￿[Ck. Sessions aim lo build pupil C4Jnfidence and offer an experience of woodland and its beneffts. FeedbaGk from the school showed Ihat'the variety and progression ofthe session activittes works inGredibly well. and we look forward lo offering ￿rther WISE wood schemes. We delivered an assembly lo Clophill Lower School pupils and worked with the local Beaver Scouts sharing our excibng plans for our nature reserve. We hope they and many other lo¢al groups will have plenty of site visits in the future. Biodiversity & Heritsge Dunng the year we continued to be involved with Flora Guardians. a county-wide project working dosely wilh the Wildlife Trust BCN, Beds Natural History Society and the Beds Recording and Monitoring Centre. The project aims to link r2re plant species with volunteers to monitor them. Positive news for the Trust was Ihat this year over 300 green-winged orchids were counted at Steppingley Hospital CWS. We have been managing the grassland since 2000 when only 11 orchids were recorded - a huge tribute io the mowtng and rakn.ng efforts our volunteers over 20+ yearsl Surveying and monitoring continued through the year. parknculady Clophill Lakes where skylark and meadow pipÉt numbers were surveyed along transect5 set up two years ago and volunteers continued with monthly Wetland Bird SuNey counts as part of the British Trust for Ornithology's national monitoring programme. The Bedfofdshire Bat Group held an evening bat survey and also put three static bal recorders out on sste to start building up a picture of how bats use the site. Badger a¢iivty on site was carefully monitored and a ptan drawn up to ensure they would not be disturbed by the work on site creating paths and restoring bridges. Great crested newts were recorded for the fifst lime in December., were found hibemating at the base of a rotten gate post. The Beds Mammal Group held their usual harvest mouse nest survey al Sandy Smith Nature Reserve. A successful series of guided walks were held at the during the yeareovering three important habitsts- spring ancient woodland flora. grassland. and meadows to mark National Meadows Day and the newly created heathland area. coindding wf(h the flowering of the leather. At the end of September. the Trust took part in a p￿sentstion on creating garden wildf ower meadows organised by Amplhill Climate Change Group. Once again fvnding was received from Anglian Water, via the Cambridge Community Foun¢Jation. to support work pulling invasive Himalayan balsarn from Sandy Smith Natu￿ ResÈNe and Clophill Lakes and to purchase equipment for volunteers. Vvaterlife Recovery East IWRE), which works to humanely remove introduced American mink from the couftiryside. has now moved into Bedfordshire. We have been working with WRE and the Intemal Drainage Board along the River Flit at SSNR and Clophill Lakes with very successful results. The final part of the fiv&year programme of woodland management in Upppr Alders was completed in December. As usual, coppice stools and newty planted trees had to be fenced to protect them from deer. EcologiGal Consultancy Consuttancy work carried out in the past year has induded preliminary ecological appraisals and preliminary roost asse55ments of land and buildings affected by proposed developments. with follow up activity suNeys such as evening emergence SUNeys with bat detectors for buildings known to 5UPPOrt roosting bats or considered to have high potential to support them. Ecological Enhancement Schemes and Management Plans have also been prowded for developments that have already received planning, with biodiversity metrics also completed to calculate the amount of biodiversrty gain or loss resulting fram a development as required by the new Biodiversity Net Gain (BNG) requiremenls. Flagship Sites Clophill Lakes Nature Reserve Clophill Lakes is the site of a former Fullerfs Earth quary worked by Laporte Indu*ries in the latter part of the 20th THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 centsjry until production ceased in 2000. In February 2022 the Greensand Trust secured the 118ha {292 acres) 511e. whicn consists of ￿stored 18kes and smaller waterbodies, restored grassland, wetland areas. mature secondary woodland. young plantation woodland, former arab5e land. horse-grazed pasture and the hard standing of forrner qU8rry works buildings. The site also indudes the nationally important Cainhoe Castle Scheduled Monument. with its motte and baileys and associated rnoated site, fishponds and field system. Much of the sile is also recognised as a County Wildlrfe Sile for its mosaic of wetland and loodplain habitats and ils winterfng waders and wildfowl. Establishment work at Clophill Lakes Nature Reserve continues. Unfortunately, Ihe exceptionally wet weather caused significanl delays, with ground conditions too saturated lo enable the necessary machinery to complete works. Progress to dale includes signifir2nt work to monitor and improve water levels and management and surrounding habitats. A new bridge has been installed lo cross the River Flit, which will enable a crossing between Castle and Warren Lake. The old quary haul bridge has been restored, as has a further bridge, which had to be completely rebuilt on its restored abutments. Over 1.6 kilometers (1 mile) of surfaced paths and a parking area have been installed and await completion to provide a¢￿sS for visitors to enjoy the reseNe when tt opens. Given the nalure of the site. it is taking Lime forthe ground conditions to improve lo a pointwhere aiLess works can be completed without damage. We have also had lo navigate some issues relating to areas of restored ground in relation to the foundations for the faciltties. With limited resources, we have had to undertake ftjrther Wofk to identify allemative, more cost viable soluttons lo enable the visitor facility to support a¢cess frjr the public. Significant efforts havo been made to remove Himalayan Balsam. an Invasive Non-Native Species, from this site. particularty along the banks cf the River Flit, with funding support from the Anglian Water Invastve Non-Native Specles Fund. secured through the Catchment Partnership. With thanks to the great support for Ihe Clophill Lakes appeal, which has raised a further £72,195 this year. essential funds towards our shortf311 for establishing the site_ A great deal of work is being undertaken, despite the condTbons, to ensure we can $8iely open to the public as soon as we can. as we are cornmitted to opening once the site is able, to both faciSilate access and protect its wildlife. Rushmere Country Park Rushmere remains the Trust's ftagship site for engaging large numbers of peaple with the wildlife, landscape. and heriiage of Greensand Country. Joinuy owned with Central Bedfordshire Counal. and managed by the Trust on a day-to4ay basis. this 162ha (400 acres) site with woodland, rleathland, meadow. wel woodland. and open water habilals prowdes much to explore. A ne￿Ork of trails forwalkers, Cyclists. and norse riders, with two sculpture trails. all supported through the Herons View Visitor Centre. Treetops Café and café facilities at the Stockgrove entrance means there is something for everyone. The stte was av12rded the Green Flag Award ag3in this year. passing with flying colours and lots of positive and constructive feedback. Activities focused on heathland restoration in Oak Wood. Lords Hill, and Shire Oak Heath, with volunteers assisting in dean-up efforts 8fter hea￿Y rain. Several site improvements were made. induding bench replacement and playground fence and gale repairs, while vandalism to barriers and roadways required attentson. Noteworthy developments included a change in dog bin emptying ￿sponSibl11ty, wtth Trust rangers now managing this task effiG'enUy. and a new horse trail was successfully constructed to ensure user safety during timber removal operations. cor.cems arose ',egarding the declining health of areas of pine and Ganifer trees, prompting plans for their removal. Despite ciiallenges such as fallen tree5 due lo strong winds antj erosion concems. proactive measures We￿ 13ken, including ience repairs and path restoration. Volunteer efforts focused on tree felling and deanup operatiofts. including buminc brash and installing rustic fencing to further protect certain areas. We have mulched several of the Èlled areas. this will prepare Ehe ground for regrowlh and any planting. Tree planting has started near Stockgrove Lake with a mix of native broadleaf trees. AC￿$S1b117ty and signage have been improved at the TreeTops Café. with a new planting area helping to inform visitors about native plants. A new family bike trail has been opened for young riders to develop riding skills. As part of our play development plan we refurbished our toddler play area, instslling a new seesaw. A range of events took place throughout the year iftcluding Heron Watch. Coronation Volunteering Display. various self-led trai5s throughout the year. Xplorer evenls, Leighton 8uzzard Art Society Exhibition and Trek Cycling Demo THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 days and Eater Egg Trail. The Summer Fayre & Dog Show was successful again, and in the lead up to Christmas we had Feslrve Fun events for families. Working Woodlands Centre The Working Woodlands Centre. Maulden Wood, provides the infrastructure lo support and stimulate the posilNe management of woodlands, to benefit wildlife. people, and the local njral economy. In another example of Partnership Working. we have agreed a Memorandum of Understanding with Forestry England lo enable joint working on shared objectives, induding enabling learning activity sessions al Maulden Wood. in addition lo further developing the training and education events held al the Working Woodland Centre. In addition lo ils role as an education faality, the WWC continued to aGt as a valued IoGal hub Tor partnership aclivilies. hosting meelings of groups and projects as diverse as the Uptier and Bedford Ouse Catchment Partnership. the Beds Enviroftmenlal Education Network. Local Nature Recovery Strategy workshops. infomation. and netsyorking sessions for local businesses through the Greensand Country Landscape Partnership, and Central Bedfordshire Council's annual meeting for ts P3 volunteers. The Nature Discovery Area continues lo be 8 valuable assel lo visiting schools and groups, and a rest stop for woodland visitors. A recent gazebo roof ￿plaCeMent. fencing improvements and signage revamp have all helped improve this facility for the future. The problem of anti-SOCtal behaviour in the Deadman's Hill Lay-by adjacent lo the WWC came to the fore again this year with a number of incidents being reported to 'the Police. Foresty England and Beds Poli￿ have tsken a robust approach to the problem and together with Lle Trust, Maulden Parish Council. Central Bedfordshire Highways, Safer Central and Natural England, have been working lo try lo find solutions to the issues of anti-social Dehaviour and littertng which have such a negative impact on Maulden Wood and ils visitors and our work at the WWC. particulady that of the education team. ConseNation Management The Ranger Service provides high quality management of over 1112ha12.750 acres) of land across the area, whilst conserving the public's aviareness of environmental and Ioc21 countryside issues. Our Rangers look after sites. ranging from small nature reserves to significant recreational areas. Many of these srtes are supported by voluntary wardens and local friends, groups and the Tnjst continue5 to work to develop new groups and volunteers to help with conservation work. The Trusl manages a range of siles, *>m the tsny Duck End Nature Reserve in Maulden. right up lo Rushmere Country Park. These include sites such as our own Sandy Smith Nature Reserve. sites we lease such as Maulden Heath, and sites we manage on behalf of others including local authortties. Across all of these sites we seek lo manage them for the benefit of wildlrfe and the people visiting them and provide opportunities for local people LO volunteer. Providing Ranger Services. site checks and maintenants, and 5UPPOrting a variety of tasks working with Friends Groups al Studham Common. Knolls Wood, Heath Weod. and Tiddenfoot Waterside Park. For example, at Lin51ade Wood we supported our Friends Group in bench installation, grass cutting and litter picking. path repairs, hedge laying and coppicing. The site also hosted a summer Bug Lab activity. At Tiddenfool improvements were made lo the Sands of Time path. However. challenges arose ac Tiddenfoot with stalen throwiines and forably removed benches, ne￿ssIt8ting rePla￿mentS and refitting. An essential tssk given the 18te August to mid-september hea￿aVe, necessitated daily patrols to ensure thrt)wlines and 'no swimming, signage ivere in Pla￿ and had not Suffered further vandalism. At Clipstone Brook regular patrols were conducted to maintain access and keep the watercourse clear af obslructions. reg￿ttablY time had lo be expended remowftg shopping trolleys and otherfofeign materials from the watercourse. on occasion deferred. due to high water levels and needing lo ensure the safety of Rangets and volunteers who are tying to keep the watercourse clear. We continue to work with and prcvide support to T¢)wn and Parish Councils. With Ampthill Town Council. Signifi￿nt progress was made in enhancing and maintaining public green spa¢es including Ampthill Great Park, ;he ¢emelery, 'the allotments. and Alameda. The Trust also assisted ivrth the preparations for the Ampthill Festival. We also continued to support Leighton Linslade T￿vrt Council with the management of Ouzel Meadows. THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 On our Eastem sites Maulden Heath benefiled from bracken management and fencing to en2ble ongoing Conse￿allOn grazing. Across our various nature reserves. including Flitton Moor and Duck End Nature Reserve. volunteers accomplished essential tasks such as ditch dearance, pond management. and hedge laying, contributing to ecological diversity and ￿SponSible woodland management. Notably, mink control efforts resulted in the removal of eight minks during the quarter, fvrthertng conservation endeavours. The year concluded wtth achievements at Sandy Smith Reserve. including the completion of trie enclosure project and hay cut at the Working Woodlands Centre ground5, emphasising Ihe indispensable role of volunteers in preservrng and enhancsng naiural spaces. Volunteering and Communlty Engagement The Greensand Trust remains a local charity focussed on Lhe local environment and its communities. The Trust could not a¢hieve a fraction ofwhat tt does without the support of ils many and varied volunteers. We aim to offer a range of interesting and rewarding opportunities to get involved in our work, which indudes supporting educational activrlies and visitor engagement alongside practical conservation volunleering. Our 200+ registered volunteers contributed an amazing 15,938 hours across the Trust's area during the year. improving habiiats and he5ping people of all ages leam about and enjoy the Greensand Country area. Free guided walks for our volunteers look pla￿ at Knolls Wood, Rammemere Heath. Tiddenfooi and Heath Wood - a great opportunity for our volunteers to see other sites we own or Manage and meet members of the Trust's team. To coftclude, the staff and volunteers have again Wofked e*(remely hard to deliver a range of positive outcomes for the environment of G￿ens8nd Country and ils cornmunities, in difficult circumstances and with limited resources. The Trust continues lo use all our available skills. experience and support. to adapt our work and •he sites we are responsible for, to ensure they remain accessible for local people and realise Ihe value of thi3 environment irt providing safe. tranquil havens for the iyellbeing of both people and wildlife. Financial review The Trust continued to maintain a satisfactory financial position. wrth new sources of funds enabling its iyork to continue. ReseNes It is the policy of the chartty that unrestrided fund5 which have not been designated for a specific use should be maintained at a level equivalent to one month's expenditure. The trustees consider that reserves al this level will ensure that. in the event of a signifieant drop sn funding, they will be able to continue the charitys current activities while consideration is given to ways in which additional fvnos may be raised. Asset cover for funds Note 21 sets out an analysis of the assets attributable to the various fijnds and a description of the fiJnds. These assats are sufficient lo meet the charity's obligations on a fund by fund basis. Risk management The trustees have a risk management strategy which comprises: an annual review of the principal risks and uncertainties Ihat the tharity faces". the establishment of policies. systems and procedures to mitigate those risks idenllfied in the annu￿ rewew: and Ihe implementaiion of procedures designed lo minimise or manage any potential impact on the chartty should those risks malerialise. Financial sustainability is a required elemen& in the management of the Trusl. therefore the financial ftsk'is regLilady reviewed and reported to Tru51ees by senior staff. This includes regular ￿vieW of all tPJ5t budgets. forecasts and development plans,. the availability of liquid fvnds lo settle debts as they fall due, regular liaison with the bank. and active management of trade debiors and creditOf5 balances Lo ensure sufficient working capital by the TrusL THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 All Trusts activities. prc5jecls and siles are also managed individually for risk. via the Trust Risk assessment procedures. these combined with robust poliaes that are regulaAy reviewed lo ensure 811 risks are mitigated to the fullest reasonable exteni. Going concem The Iruslees have assessed the major risks to which Lhe charity is exposed and are satisfied that systems a￿ in pta¢e to mttigate exposure lo the major risks. Structure, governance and management The charity is a company limited by guarantee. incorporated on 27 January 1999 and registered as a charity on 17 August 1999. The charitable company was established under a Memorandum ¢f Association which established the objects and powers of the charitable company and is govemed under its Articles of Assoctation. Directors and Trustees The trustees. who are also the directors for the purpose of company law, who sen￿d during the year we￿". Steven Smith Sally Hunt Gillian Sharp Sonnie Wing Simon Collier None of the Iruslees has any beneficial interest in the company. All of the trustees a￿ members of the company and guarantee to contribute a maximum of £10 in the event of winding up. The Trustees are nominated by other trustees and must be approved al a board meeting. When looking for new trustees to nominate. the trustees consider the skills and knowledge of new trustees. The Trustees administer the Gharity. The board meet quart4erly. The day-to-day operations of the charity are managed by the senior management team. to whom authority is delegated lo facilitate operations includin9 finance. employment and seFvice provision. The Senior Management Team comprises of. Chief Executive Officer.. Gillian Welh8m Director of Development.. Jon Balaam Employee involvement The charity's policy is to consult and discuss with employees. through staff councils and at meetings. matters likely tc affect employees, interests. Information of matters of concem lo employees is given through infomation bulletins and ￿pOrtS which seek lo achieve a common awareness on the part of all employees of the financial and economic factors affecting 'the group's performance. Disabled persons Applications for employrnenl by disabled persons are always fully considered. bearing in mind the aptitudes of the applicant concemed. In the event of members of staff becoming disabled. every effort is made to ensure that their employment within the charity continues anct that the appropriate training is arranged. It is the poliw of the charty hal the training. career development and promotion of disabled persons should, as far as possible. be ideniirAI to that of other employees. THE GREENSAND TRUST TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR fHE YEAR ENDED 31 MARCH 2024 Auditor The Trustees in accordance with the companys articles. passed a resolution confimiing Nlercer & rl,ole.LLP as auditor of the ￿mpanY. The Truslees ￿pOrt was approved by ihe 8oard of Trustees. S Smith Tru5¥ee Dated.. 14 Iio11014 THE GREENSAND TRUST STATEMENT OF TRUSTEES RESPONS181LITIES FOR THE YEAR ENDED 31 MARCH 2024 The Injstees. who are also the directors of The Greensand Tnjst for the purpose of company law, a responsible for preparing the Trustees Report and the financial statements in accordance with applicabte law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted AcrA)unting Practice). Company Law requires the trustees lo prepa￿ finanaal statements for each financtal year which give a true and fair view of the stste of affairs of the charity and of the incoming reSoUr￿S and application of resources. including the income and expendtture. of the charitable company for that year. In preparing these finanrial statements. the trustees are required to: seleet suitable ac¢ounting pcliaes and then apply them cx)nsistenUy', observe the methods and principles in the Charities SORP-. make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements.. and prepare the financial statements on the going con￿￿ basis unless it is inappropriate to presume that the charity will coniinue in operation. The trustees are responsible for keeping adequate a￿oUntIng records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure th* the financial statements comply wtth the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and ttence for taking reasonable stsps for the prevenlion and detection of fraud aftd other irregularities. THE GREENSAND TRUST INDEPENDENT AUDITOR'S REPORT TOTHE TRUSTEES OF THE GREENSAND TRUST Opinion We have audiied the financial ststements of The Greensand Trust (the 'charityl for the year ended 31 March 2024 which comprise the statement of nnancial activities, the balance sheet. the statement of cash flows and the notes to the financial ststements. including a summary of signfficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom A(xounting Standards, including Finanoal Reporting Stsndard 102 The Financial Repothng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi￿1. In our opinion. the financial slatements- give a true and falr Mew of the state of the L*aritable company's affairs as at 31 March 2024 and of tt5 incoming resources and application of resources, for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in ac¢ordan¢e with the requirements of the Companies Act 201%. 8asis for opinion We conducted our audit in accordance with Intemalional Standards on Auditing {UK) (ISAS {UKII and applicable law. Our responsibilities under those standarfjs are further described in the Auclitorfs Trsponsibilities forthe audit of Ihe financial statements section of our reporL We are independent of the charity in accordance Wilh the ethical requirements that are relevant lo our audtt ot the financial statements in the UK. induding the FRC'S Elhiczl Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relatlng to going Concern In auditing the financial statements, we have concluded thaL the trustees use of the going concem basTs of accounting in the oreparation of the financial slaLementS Is appropriate. Based on the work we have perfomed. we have not identified any material ￿n￿rtaIntieS relating to events or cenditions that. individually or collettkively. may cast significant dosjbt on the charity's ability lo continue as a going con¢em for a period of at least Melve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trusieeswilh ￿sPeCtto going concem are described in the relevant sections of this report. Other infonrlation The other information comprise5 the infomiation included in the annual repcsrt other than the financial statements and our auditorfs report thereon. The Iruslees are responsible for the olher information contained within the annual report. Our opinion on the financial ststements does not cover the other information and we do not exp￿$5 any form of assuran￿ conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomation is rnaterially inconsistent with the financial stalements or our knowledge obtained in the course of the audit. or otherwise appears lo be materially misstated. If we identify such matsrial inconsistencies or apparent material misslalemenls. we are required to detemine whether this gives rise to a material misststement in the financial statements themselves. If, based on the work we riave perfomed. we conclude that tnere is a material misslatemenl of this other information. we are required to report that fact. We have nothing lo report in this regard. -1C- THE GREENSAND TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OFTHE GREENSAND TRUST Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in ￿Spect of the following matters in relation lo which the Companies Act 2008 requires us to report to you if. in our opinion: adequate accounting records have not been kept. or fetums adequate for our audit have not been received from branches not visited by us-, or the financial statements are not in agreement with the accounting records and returns; or certain disdosures of directors, rernuneralion specified by law are not made- or we have nol received all the information and explanations we require for our audit- or the TTUStees We￿ not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the directors, reports and from the requirement to prepare 2 strategic report. Responsibilities of Irustees As explained rn0￿ fully in the statement of trustees responsibilities. the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied tha; they give a true and fair view. and for such intemal control as the trustees delemiine is ne￿$sary to enable the preparation of financial slalements that are free from material misstatement. whether due lo fraud or error. In preparing the financtal stalements. the trustees are responsible for assessing the charity's abilty to continue as a going concem. disclosing. as appli¢able, matters related to going con¢em and using the going concem basis of accounting ur,less the trustees either intend to liquidate the charitable company orto cease operations. or have no realistic altemative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain ￿aSOnable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that indudes our opinion. Reasop.able assurance is a high level of assuran￿. but is not a guarantee that an audit conducted in accordance wtth ISAS {UK) wtll always delect a material misstatement when il exists. Misstatements can arise from fraud cr effor and are ¢onsidered material if. individually or in the aggregate, Ihey could reasonably be expected 10 Influen￿ the economic decisions of users tsken on the basis of these financial statemenls. Irregularities, including taud. are instances of non-eompliance with laws and regulations. We design procedures in line with our responsibilities. ouuined above. to detect material misstatements in pspect of irregularities. inGluding fraud. The specific procedures for this engagement and Ihe extent to which these are ￿Pable of detecting irregularittes, including fraud is detailed below. Explanation as to what extent the audit was considered capable of detscting irregularities, including fraud We gained an understanding of the legal and regulatory framework applicable to the company 2nd the industy ift which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulalions. including fraud. These included. but were not limited to. the Companies Act 2006. Charities Act 2011. Charities SORP 2019 and Èx legislation. We evaluated managemenvs incentives and opportunities for fraudulent manipulation of the financial ststements and the financial report {including the risk of override of controls). and determined thal the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates. THE GREENSAND TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THETRUSTEES OFTHE GREENSAND TRUST Audit proGedures perfomed by the engagement team included: discussions with management, including considerations of known or suspected instsnces of non- compliance with laws and regulaiions and fraud-, gaining an understanding of management's controls designed to p￿vent and detect irregularities.. and identifying and lesling jcumal entries. Owing to the inherent limilalions of an audit. the￿ is an unavoidable risk that we may not have detected some material misstatements in the financial statemen15, even ihough we have properly planned and performed our audit in accordance with auditing standards. For example. the fvrther removed non-compliance with laws and regulations (l￿egUlarItIes} is from the events and transaclions reflected in the financial statements, the less likely the inherertuy limtted prO￿dureS required by auditing standards would identify it. In addition, as wilh any audit. there rernained a higher risk of non4etection of irregularities, as these may involve collusion, forgery. intentional omissions, misrepresentations. or the override of intem?I controls. We are not responsible for preventir¢g non- compliance and cannot be expected to ¢Yetecl non-compliance with all laws and regulations. A fijrther description of our responsibilities is available on ihe Financial Repottiing Ceuncil's website at.. https.'Il w￿.fr¢.Or9.UkIaud1IorsreSponslbI1ttles. This description forms part of our auditotrs report. Use of our report This ￿port is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of 'the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable company's members those matters we are required to state to them in an auditors. report and for no other purpose. To ihe fullest extent pemitted by law. we do not accept or assume responsibility to anyone other than the charitable ojmpany and the charitable company s members as a body, for our audit work. for this report, or for the opinions we have formed. N£Th¢k(dc L Philip Fenn ACA FCCA (Senior Ststsrtory Auditor} for and on behalf of Mer¢er & Hole LLP Date: lgkk Ockdrk IDL The Pinnacle 170 Midsummer Boulev8rd ilton Keynes MK9 1BP Chartered Accountants Statutory Auditor -12- ¢0 ro v GJ r O (Yi J tsi u) Z5 (Y O Cs o * oty V * t7 o ( co (o a) ( 4 tts ¢44 THE GREENSAND TRUST BALANCE SHEET ASAT31 MARCH 2024 2024 2023 (as restated) Notes Fixed assets Tangible assets Current assets 13 6,178,934 5.454,454 Stocks 14 12.850 10,552 Debtors 15 128,994 223,354 Cash at bank and in hand 995.071 1,585,885 1,13S.915 1.819.791 Creditors: arnounts falling due within one year 17 1231.601) (208.081) Net current assets 905,314 1,611,710 Totsl assets less current liabilities 7.084,248 7.066.164 Creditor5: amounts falling due after more than one year 18 (113.194) (129.439) Net assets 6.971,054 6.936.725 Income funds Restricted fijnds 19 6.568.667 6,535,686 Unrestrl￿ed funds - designated 20 162.589 178.721 Unreslrrcted funds- general 239.798 222,318 6,971.054 6.936,725 The director5 acknowledge their responsibilities for complying wilh the requiremenls of the Companies Act 2006 with respect to accounting records and the preparation of financial ststements. These financial statements have been p￿pared in accordance wilh the prowsions applicable to companies subjeci lo the small companies regime. The accounts were approved by the Trustees on .... S Smith Trustee Company Registrdtion No. 03702419 -15- THE GREENSAND TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 (As restated} Notes Gash flows from operating activities Cash generated from operations Investing activities Proceeds from disposal of tangible fixed assets Purchase of tangible fixed assets 23 243.092 155.646 14.277 (852,759) 19.529 (195,6831 4.333 Interest received Net cash used in investing a¢tivities 1818,9531 (191,350) Financing activities Rep8yment of bank loans 114.953) 113.661 } Net cash used in financing activities (14,953) (13.661) Net increase in cash and cash equivalents (590.814) (49,365) Cash and cash equivalents at beginning of year 1.585,885 I.E3S.251 Cash and cash ￿u1valents at end of year 995.071 1.585,885 Short ierm deposits included in current asset investments Bank overdrafts induded in Greditjrs payable within one year THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charity inforniation The Greensand Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Working Wt)odlands Cenlre. Maulden Wood. Haynes West End. Bedfofdshire. MK45 3UZ. 1.1 Accounting convention The financial statements have been prepared in accordance with Ihe charity's goveming document. the Companies Act 2006, FRS 102'The Financial Reporting Standard applic2ble in the UK and Republic of Ireland" ("FRS 102,? and the Chartties SORP "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial siaiements a￿ p￿pared in sterling, which is the ￿nCtional currency of the charity. Monetary amounts in these finanaal 5tatemenls are rounded lo Ihe nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting polioes adopted are sel out below. 1.2 Going concern At the lime of approving the financial statements, the Irustees have a ￿3$onable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus. the trustees continue lo adopt the going con￿rn basis of accounting in preparing the financral statements. 1.3 Charttsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charttable objectives. Designated funds comprise funds which have been set aside at ihe dIsC￿tion of the truslees for speciffc purposes. The purposes and uses of the designated funds are set out in the notes LO the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds a￿ set out in the notes to the financial statements. Endowrnent funds are subject io specific conditions by donors Ihal the capital must be maintained by the charity. 1.4 Incoming resouKes Income is recognised when the chaftty is legally entitled to it after any perFOrrnan￿ conditions have been meL. the amounts can be measured reliably. and il 1$ probable that income will be re￿ived. Cash donations are recognised on ￿elpt. Other donations are recognised Oft￿ the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income 18x re¢overable in relation to donations receivèd under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the chaiity has been notified of an impending distribution. the amount is known. 8nd receipt is expected. If the amount is not known, the legacy is Yeated as a contingent asset. -17- THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Donated professional seNces and donated facilities are recognised as income when the charity has control overthe item. any conditions assouated with the donated item have been met, the receipt of econornic benefit from the use by the charity of the item is probable and that economi¢ benefit C8n be measured reliably. In accordance with the Ch8rtiies SORP (FRS 102). general volunteer time is not recognised. please refer to the trustees, annual report for more infomation about Iheif contribution. On receipt, donated professional sefvices and donated facilities are re¢ognised on the basis of the value of the gift lo the charity which is the amount lhe charity would have been willing to pay to obtain seMc8s or facilitie5 of equivalent economic benefit on the open marke+; a corresponding amount is then recognised in expenditure in the period of re￿ipt. Interest on funds he5d on deposit is included when reGeivable and the amount can be measured reliably by the charity: this is normally upon notificatior¢ of the interest paid or payable. Income from Govemment and other grants, whether 'capital grant, or 'revenue grant.. is recognised when the charity has entitlement to the funds, any performance conditions attached lo the grants have been met, it is probable that the income will be re￿iVed and the amount can be measured reliably and is not deferred. Trading income is recognised on point of sale. 1.S Resources èxpended All resources expended are recognised on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment lo a third party. it is probable that settlement will be requiod and the amount of the obligab'on can be measured reliably. Expendilure is classified underthe following activity headings.. Costs of raising fijnds comprise ttie costs of trading induding cafe and retail sales. Expenditure on charitable activities includes the Costs of prOje￿grant or seNice agreement delivery or other educational a¢tÉvitses undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the actiwty for which the expenditure was incurred. 1.6 Tangible fixed assets Tangible Iixed assets other than freenold land are initially measured at cost and subsequently measU￿d at cost or valuation. net of depreciation and any impairment losses. Deprecialior, is reojgnised so as to virtte off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Buildings Infrastructure Plant and machinery Motor vehicles 29A straight line 5% straigh, line 25 /0 reducing balan 259/u Stfaight line The gain or loss arising on the disposal of an asset is detemined as the difference be￿een the sale oroceeds and the carrying value of the asset, and is recognised in the statement of finanGal actiVTties. THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AGcounting pollcies (Continued) 1.7 Impairniont of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assetsto detemine whether there is any indication that those assets have suffered an irnpaiment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impaiment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and Ihose overheads that have been incurred in bringing the stocks lo their present location and Condition. Items held fordistribution at no or nominsl consideration are measured the lower of replacement cosl and cost Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and dislribulion. 1.9 Cash and cash equivalents Cash and cash equivalents inctude ￿sh in hand. deposits held al call with banks. other short-lem liquid investments with original maturities of three months or less, and bank overorafts. Bank overdrafts are shown within boirowings in current liabilities. 1.10 Financial irlstruments The charity has elected to apply the provisions of Section 11 '8as¢c FinancÉal Instruments. and Section 12'0ther Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financi?1 instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the inslrumenl. Financial assets and liabilities are oftset. with the nei amounts p¢sented in the financial slatemenls, when there is a legally en.iorceable right to set off the rècogniseli amounts and there is an intention to settle on a net basis or lo realise the asset and sewe the liability simultaneously. Basi¢ financial assets 6851¢ financial assets. which include debtors and cash and bank balances. are initially measured a¥ uansaction price including transaction costs and are subsequenty carried at 3mortised 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 reGeipls diswunted at a market rale of interest. Financial assets classified as receivable wiihin one year are not amortised. Derecognition of financial assets Financial assets are dere¢ognised only when the ojntractual rights to the cash llows from the asset expire or are settled, or when the charity transfers the finanaal assel and substantially all the risks and rewards of ownership to anolher enlity, or if some significant risks and ￿WardS of ownership are retained but control of the assel has transle￿d to another paty that is able to sell the asset in its entirety to an unrelated third paty. THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Accounting poliGie$ (Continued) Basic financial liabilities Basic financial liabilittes. including credilors and bank loans are intllally recognised at tr8nsaction price unless the arrangement Gonstitutes a Ttnancing transadion. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities ctassified as payable within one year are not amortised. Debt instruments are subsequently carried at amorbsed ¢ost, using the effectNe interest rate method. Trade creditors are obligations to pay for goods or Se￿1￿$ that have been acquired in the ordinary course of operations from suppliers. Amounts payable are ctassified as current liabilities if payment is due within one year or less. If not, they are presented as non (ry In Gi ¢0 txi O Q* THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 19 Restricted fvnds {Continued} Land for Gonservalion purposes is purchased Whe￿ necessary to safeguard and enhance arèas of landscape, wildlife and or historie21 herttage for the benefit of local people and visitors. Stsnbrtdge Wildlife Meadow is a site of 12 acres, with views over the town of Leighton Linslade and Suffounding countyside. A rare exarnple of specles rich lowland meadow. Edgewick Fann is a site where The Greensand Trust Is working in partnership with Wobum Sands Town Council to provide public access whilst enhancing its conserwation aspects. The Sandy Smith Nature Reserve is a 93 hectsre site at Chicksands, part given and part purchased by ttie Trust through donations. The site has been established a5 a Nature Rese¥ve providing 2 vaftety of new habit31s for wildlrfe. Deferred Projects is ￿ndIng received for projects that are ongoing or not complete. The Working Woodlands Centre will provide essential intrastwcture and support for the protection and enhancement of both the local environment and rural economy. An exemplar of woodland management. itwill seek to stimulate new and support existtng susta1nable woodland enterprise. totsrism and opportunities for communities to be involved and benefit from their environmenL. 2ushmere Estate is 210 acres with a wide variety of nolable habitats and landscapes. 11 was jointly purchased by the Trust and Central Bedfordshire Council, with the commitment to combine with the adjacent landholding of Stockgrove Country Park and Oakwood to create 3 single 400 acres site to be managed for the benefrt of people and wil(Jlife. Rushmere Estste Development relates to Ihe development of essential infrastructure to support sustainable access and conservation. Kings Wood Appeal 15 a fund established to help Se0J￿ and preserve the currenuy fragmented remnants of artcient woodland, KÉng's Wood. Heath & Reath. as a nalionally important woodland. Rich8rd Woclnough is a fund celebrating the lrfe and work of Richard Woolnough by establishing a ￿nd dedicated in hi5 name. to enable 3Ction5 which benefft the Greensand area and its ¢ommunilies. Covid Recovery fund NU4F is a grant awarded lo mitigate impact from Covtd and enable implementation of recovery plans. Clophill Lakes is a 118ha 1292 Acres) site of a former rullerfs Earth quary. and includes Cainhoe Castle SAM, 'his land with associated allocation for its establishment as a new accessible Nature Reserve. The prior year adjustment relates to a newly installed boardwalk whi¢h was iridudea within restricted expenditure in 2022-23 amounting lo £62,422. wh,'ch has subsequently been identtfied and realised as a capital asset. As such. a prior year adjustment was required to re-state expenditure and fixed assets in 2023. In the curyent financial year, a fijrther £3.000 has been ¢apitalised in relation to this asset. Greensaftd Csunlry LandsGape Partnership is a fund established to raise fijnds to manage the Partnership as the A¢counlable 8ody. 4ry THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Related party transactions Trdnsactions with related parties During the year the ¢haiTty entered inlo the following transactions with related parties.. Pur¢hase of go¢xIs 2024 2023 Key management personnel 3,650 5.710 None of the Trustees receive remuner8tion or has any beneficial interest in the company. All of the trustees are members of the Gompany and guaranlee lo contribute a maximum of £10 in the event ofwinding up. Any connection bettyeen a truslee or senior manager of the charity are disdosed to the fvll board of tNslees and its Auditors in the same way as any other contractual relationship with a ￿lated party. The total amounl of donations received during the year, without conditions from trustees was £0. Thera were no other Iransactions beiween the charity and its Trustees. The Trust lad Iransactions amounting to £3,650 with senior management personnd. The Trust works in cixjperation with a number of different organisations and local authorities in delivery of ils objectives. Where any financial or in-kind remuneration is received this is disclosed lo the ￿11 board of tTUStees and its Auditors. Cash generated from operations 2024 2023 {As reststed) (Oeffcit)I Surplus for the year Adjustments for. Investment in¢ome recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets Movements in working capital= Decrease l (Increase) in stocks (Increase) l Decrease in debtors 5nGrease l {Decrea5el in crerfitors Cash generated from operations 34,329 61,251 {19.529) (11.3S6) 125.367 14.3331 101.829 {2.2g81 1.127 79.050 22.229 243.092 183.278) 155,646 -33- THE GREENSAND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysis of changes in net funds At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 1.585.885 1590.814) 995.071 Loans falling due within one year Loans falling due aftermore than one year {13.661) (129.4391 11.2921 76,245 114,953) {113,1941 1.422.785 1575.8611 866,924 25 Operating lease commilments At the reporting end date. the charity had outstanding ￿mMitmentS for fvlure lease payments underoperating leases, so that the total amounts payable over the tern of the leases f811 due as follows- At31 March 2024 At31 March 2023 Within one year Belween two and five years In over five year5 6.083 9,144 3.765 18,992 6.083 13,170 23.520