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2022-09-30-accounts

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

Company registration number: 3734220 Charity registration number: 1078362

The Wallacea Trust

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 30 September 2022

Forrester Boyd Chartered Accountants 139 Eastgate Louth Lincolnshire LN11 9QQ

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Statement of Trustees' Responsibilities 5
Accountants' Report 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 17

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Reference and Administrative Details
Trustees R Field
N P McCann
S R Notley
C G J Richards
M R Speight
J N M Page
P L M Suthers
C A Palmer
Secretary D A Exton
Senior Management / Dr M R Speight, Chairman
Leadership Team Dr C G J Richards, Treasurer
Dr D A Exton, Secretary
Charity Registration Number 1078362
Company Registration Number 3734220
Registered Office Hope House
Old Bolingbroke
Spilsby
Lincolnshire
PE23 4EX
Accountants Forrester Boyd
Chartered Accountants
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN11 9QQ
Bankers Lloyds Bank PLC
14 High Street
Horncastle
Lincolnshire
LN9 5BL

Page 1

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The Wallacea Trust

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2022.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: R Field N P McCann S R Notley C G J Richards M R Speight J N M Page P L M Suthers C A Palmer Secretary: D A Exton Senior Management / Leadership Dr M R Speight, Chairman Team: Dr C G J Richards, Treasurer Dr D A Exton, Secretary

Objectives and activities

Objects and aims

The organisation exists for the promotion for the public benefit, research into terrestrial and marine habitat of the biogeographical area known as 'Wallacea region' and other areas of the world and to publish such results. Furthermore, to educate the public in relation to the conservation and protection of the Indonesian marine and terrestrial natural resources and to encourage support an cause the implementation programmes promoting the same.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management

Nature of governing document

The Charity is governed by its Memorandum and Articles of Association, which were adpoted on 8th November, 1999, (amended by special resolutions of 20th October, 1999 and 8th March, 2009).

Recruitment and appointment of trustees

Potential new trustees are identified by Dr D A Exton. All potential new trustees must have the correct attributes to further the charities objectives.

Page 2

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The Wallacea Trust

Trustees' Report

Achievements and performance

Developing a globally-applicable methodology for measuring biodiversity uplift

There is rapidly growing interest amongst the private sector in investing in nature, and yet no suitable mechanism exists whereby an investor can accurately and comparably measure the impact of their investment. Biodiversity is far more complex than climate, and there is no single comparable unit of measurement to a carbon dioxide molecule and yet, it such a mechanism could be developed, it could unlock hundreds of billions of dollars’ worth of annual investment into the protection and restoration of natural ecosystems. In 2021 the Wallacea Trust convened a working group consisting of representatives from academia, government, conservation, banking and corporates. This group developed a novel method for quantifying biodiversity change, based on the consumer price index (CPI), which can be applied to any ecosystem worldwide to give a single, comparable, unit of change. This method was published open access online in 2022 and has since been developed into the world’s first tradable biodiversity credit by UK accreditation body Plan Vivo. This has generated massive interest, with representatives having presented the concept at COP27, COP15 and Davos, amongst other high profile events. We intend to use the methodology to encourage private sector investment into nature conservation at a scale never seen before, but in s way that channels the financial benefits into local communities.

Scholarships to support student fieldwork opportunities

The Trust remains committed to providing a series of scholarship opportunities to students wishing to join research and conservation expeditions. With expeditions paused during COVID, the Trust has accumulated scholarship money from Premier Oil which will be paid out in the next financial year. However, this funding from Premier Oil will cease moving forwards, as they have rebranded and focused their efforts elsewhere. The Trust’s relationship with the Murray Foundation has continued and they provide a series of £1000 and £500 scholarships per year. Some Murray Foundation money remains from COVID and will be paid out in the next financial year, whilst a new set of scholarships will be funded in 2023.

Developing a new carbon accounting method for mangroves

This Trust project has developed a more accurate method of accounting for carbon sequestered in mangroves than the existing carbon accounting methodologies. The reason this is important is that if you can fully account for the levels of carbon in mangrove ecosystems and achieve levels of around 500 tonnes per hectare within 25 years of replanting, then the price of carbon credits can be brought down to a level where the voluntary carbon market can really drive reforestation rates. The price of reforestation carbon credits being used by multi-national companies to achieve Net Zero Carbon targets is primarily determined by the amount of carbon sequestered over the life time of the project being certified. Thus, for reforestation projects in rainforest areas that have an estimated accumulation of 100 tonnes per ha of carbon in above and below ground biomass (the carbon accumulation in rainforest soils is negligible) over a 25 year period then the price of the credits is generally in the region of $15 whereas renewable energy credits can be bought for under $5. The net effect of this price differential is that multi nationals faced with offsetting millions of credits a year gravitate to renewable energy credits at the cheaper end of the market and the voluntary carbon market is not really driving reforestation rates.

The new methodology submitted to Plan Vivo, a well-established carbon certification scheme, differs from the existing methodologies in that it introduces the concept of Net Residual Carbon in the sediment into which the mangrove propagules are being planted. When a mangrove forest is cleared, the carbon in the anoxic sediment which might have been as high as 800 tonnes per hectare at the time of the mangrove removal, is gradually oxidised and released to the atmosphere. In areas where the sediment is exposed to large tidal fluctuations and currents, then nearly all of the carbon stocks will be removed whereas in more sheltered areas some of the carbon will remain long after the clearances. The new Wallacea Trust developed methodology proposes that before planting, 2m cores are taken at the planting site to determine remaining carbon stocks. In addition, coring is completed at sites where the mangroves have been removed 25+ years ago to estimate the baseline levels that the carbon stocks would fall to if the area were not replanted. The difference between these two figures is the Net Residual Carbon at the time of planting and this change together with more realistic estimates of annual accumulation rates of organic matter mean that mangrove reforestation credits could be brought into the $5 range.

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The Wallacea Trust

Trustees' Report

Repairing damaged forests in Sulawesi

The loss of income in the rural communities in Sulawesi where the Opwall survey teams have been based for the last 20+ years, has been very severe because of the cancellation of the annual expedition programmes. In order to reduce the impact, the Trust has helped to fund the local communities to establish three tree nurseries each with 10,000 saplings comprising at least 40 species that have been collected from the adjacent rainforests. These nursery trees are destined to be replanted in areas of conservation forest or privately owned land on the edge of the North Buton Nature Reserve, but in the short term have provided much needed employment and income for the communities during the pandemic.

Supporting park rangers in Cusuco National Park

The Trust has partnered with Central American NGO Panthera to provide year-round patrols of the Cusuco National Park, with a particular focus on the illegal hunting of threatened large mammal species (e.g. Baird’s Tapir and Jaguar). Panthera already provide training and support to small teams of local rangers in parks across the region, and the Trust is providing matched funds to support their wages and basic equipment. Preliminary data suggests large mammal populations are already benefiting from this added protection, with camera traps detecting not only a breeding pair of Jaguar but also the first Baird’s Tapir to be seen in the park for many years. The Trust intends for this support to continue indefinitely.

Financial review

As at 30th September 2022, the total value of funds carried forward were as follows:

Policy on reserves

The Trust does not currently require the holding of reserves, as we operate with almost no overheads and regular costs (e.g. no paid staff, no premises). However, should this situation change we would look to implement a reserves policy as appropriate.

Funds in deficit

In 2021, unrestricted funds carried forward were in a deficit position of £18,096. The charity has experienced a net surplus on unrestricted funds for the year ended 30th September 2022 of £20,646.

The annual report was approved by the trustees of the charity on 23 May 2023 and signed on its behalf by:

......................................... C G J Richards Trustee

Page 4

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The Wallacea Trust

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The Wallacea Trust for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 23 May 2023 and signed on its behalf by:

......................................... C G J Richards Trustee

Page 5

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Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of The Wallacea Trust for the Year Ended 30 September 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Wallacea Trust for the year ended 30 September 2022 as set out on pages 8 to 17 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of The Wallacea Trust, as a body, in accordance with the terms of our engagement letter dated 18 January 2023. Our work has been undertaken solely to prepare for your approval the financial statements of The Wallacea Trust and state those matters that we have agreed to state to the board of directors of The Wallacea Trust, as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Wallacea Trust and its board of directors as a body for our work or for this report.

It is your duty to ensure that The Wallacea Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of The Wallacea Trust. You consider that The Wallacea Trust is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Wallacea Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Forrester Boyd Chartered Accountants Waynflete House 139 Eastgate Louth Lincolnshire LN11 9QQ 24 May 2023

Page 6

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The Wallacea Trust

Independent Examiner's Report to the trustees of The Wallacea Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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:

  1. accounting records were not kept in respect of The Wallacea Trust as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts 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 understanding of the accounts to be reached.

...................................... Philip George ACA Chartered Accountants ICAEW

139 Eastgate Louth Lincolnshire LN11 9QQ

24 May 2023

Page 7

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Statement of Financial Activities for the Year Ended 30 September 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
4
Governance costs
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
4
Governance costs
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
funds
£
28,266
28,266
(4,638)
(2,982)
(7,620)
20,646
20,646
(18,096)
2,550
Unrestricted
funds
£
544
544
(4,249)
(1,396)
(5,645)
(5,101)
(5,101)
(12,995)
(18,096)		 Unrestricted
funds
£
28,266		 Restricted
funds
£
9,725		 Total
2022
£
37,991
28,266 9,725 37,991
(4,638)
(2,982)		 (12,883)
-		 (17,521)
(2,982)
(7,620) (12,883) (20,503)
20,646 (3,158) 17,488
20,646
(18,096)		 (3,158)
14,787		 17,488
(3,309)
2,550 11,629 14,179
Restricted
funds
£
41,623
41,623
(26,836)
-
(26,836)
14,787
14,787
-
14,787		 Total
2021
£
42,167
42,167
(31,085)
(1,396)
(32,481)
9,686
9,686
(12,995)
(3,309)

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 14.

The notes on pages 10 to 17 form an integral part of these financial statements. Page 8

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

(Registration number: 3734220) Balance Sheet as at 30 September 2022

Note
Fixed assets
Intangible assets
10
Tangible assets
11
Current assets
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets/(liabilities)
Net assets/(liabilities)
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
14		 2022
£
427
323
750
46,555
(33,126)
13,429
14,179
11,629
2,550
14,179		 2021
£
520
380
900
28,247
(32,456)
(4,209)
(3,309)
14,787
(18,096)
(3,309)

For the financial year ending 30 September 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 8 to 17 were approved by the trustees, and authorised for issue on 23 May 2023 and signed on their behalf by:

----- Start of picture text -----
.........................................
----- End of picture text -----

......................................... C G J Richards Trustee

The notes on pages 10 to 17 form an integral part of these financial statements. Page 9

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

1 Charity status

The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The company was incorporated in England and Wales.

The address of its registered office is: Hope House Old Bolingbroke Spilsby Lincolnshire PE23 4EX

These financial statements cover the individual entity, The Wallacea Trust.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The Wallacea 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 notes.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

The charity is financially supported by a loan from Operation Wallacea Limited, while is due within one year, it is however not expected to be withdrawn at a short notice, only as and when funds permit. For these reasons, the financial statements have been prepared on a going concern basis.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

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 the income receivable can be measured reliably.

Page 10

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

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 to particular headings they have been allocated on a basis consistent with the use of resources, 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.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 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.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class Amortisation method and rate Trademarks 5% straight line on cost

Page 11

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Computer equipment

Depreciation method and rate 15% reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

3 Income from donations and legacies

Grants, including capital grants;
Other grants
Regular giving and capital donations
4
Expenditure on charitable activities
Note
Cursuco national park expenses
Project expenditure
Governance costs
5		 Unrestricted
funds
General
£
-
28,266
28,266
Unrestricted
funds
General
£
4,638
-
2,982
7,620		 Restricted
funds
£
9,725
-
9,725
Restricted
funds
£
-
12,883
-
12,883		 Total
2022
£
9,725
28,266
37,991
Total
2022
£
4,638
12,883
2,982
20,503		 Total
2021
£
41,623
544
42,167
Total
2021
£
4,249
26,836
1,396
32,481

In addition to the expenditure analysed above, there are also governance costs of £2,982 (2021 - £1,396) which relate directly to charitable activities. See note 5 for further details.

5 Analysis of governance and support costs

Governance costs

Unrestricted

Unrestricted
Legal fees
Depreciation, amortisation and other similar costs
Other governance costs
Allocated support costs		 General
£
2,374
150
243
215
2,982		 Total
2022
£
2,374
150
243
215
2,982		 Total
2021
£
990
160
197
49
1,396

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DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

6 Net incoming/outgoing resources

Net incoming resources for the year include:

Depreciation of fixed assets
Amortisation of goodwill
Independent examination fees		 2022
£
57
93
2,374		 2021
£
67
93
990

7 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

During the year no travel expenses were paid to trustees (2021: £nil).

8 Staff costs

During the year the staff costs amounted to £Nil, (2021: £Nil).

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Average number of employees
No employee received emoluments of more than £60,000 during the year.		 2022
No
10		 2021
No
11

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

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The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

10 Intangible fixed assets

10 Intangible fixed assets
Cost
At 1 October 2021
At 30 September 2022
Amortisation
At 1 October 2021
Charge for the year
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021
11 Tangible fixed assets
Cost
At 1 October 2021
At 30 September 2022
Depreciation
At 1 October 2021
Charge for the year
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021
12 Cash and cash equivalents
Cash at bank
13 Creditors: amounts falling due within one year
Other loans
Accruals		 Trademarks
£
1,863		 Total
£
1,863
1,863
1,343
93
1,436
427
520
Total
£
3,927
3,927
3,547
57
3,604
323
380
2021
£
28,247
1,863
1,343
93
1,436
427
520
Computer
equipment
£
3,927
3,927
3,547
57
3,604
323
380
2022
£
46,555
2022
£
23,526
9,600
33,126
2021
£
23,526
8,930
32,456

Page 15

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

14 Funds

Unrestricted
General
Total unrestricted
Restricted funds from corporate
sponsorship
Total funds		 Balance at 1
October 2021
£
(18,096)
(18,096)
14,787
(3,309)		 Incoming
resources
£
28,266
28,266
9,725
37,991		 Resources
expended
£
(7,620)
(7,620)
(12,883)
(20,503)		 Balance at 30
September
2022
£
2,550
2,550
11,629
14,179

Grants are received from corporate bodies specifically for the purpose of sponsoring students on expeditions.

Unrestricted
General
Restricted
Total funds		 Balance at 1
October 2020
£
(12,995)
-
(12,995)		 Incoming
resources
£
544
41,623
42,167		 Resources
expended
£
(5,645)
(26,836)
(32,481)		 Balance at 30
September
2021
£
(18,096)
14,787
(3,309)

15 Analysis of net assets between funds

Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
427
323
34,926
(33,126)
2,550
Unrestricted
funds
General
£
520
380
13,460
(32,456)
(18,096)		 Restricted
funds
£
-
-
11,629
-
11,629
Restricted
funds
£
-
-
14,787
-
14,787		 Total funds
at 30
September
2022
£
427
323
46,555
(33,126)
14,179
Total funds
at 30
September
2021
£
520
380
28,247
(32,456)
(3,309)

Page 16

DocuSign Envelope ID: B9EEED35-B366-4591-B3D3-5A7C5247B85D

The Wallacea Trust

Notes to the Financial Statements for the Year Ended 30 September 2022

16 Related party transactions

There were no related party transactions in the year.

Page 17