# ## |||Page| |---|---|---| |Trustees'
report||1-13| |Statement oftrustees'|responsibilities|14| |independent
auditor's|report|15-18| |Statement
offinancial|activities|19-20| |Balance sheet||21 - 22| |Statement
ofcash flows||23| |Notes to the financial|statements|24 - 44| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Reference|Reference|and administrative|and administrative|details||||||| |---|---|---|---|---|---|---|---|---|---|---| |Company||number|||03343965|||||| |Charity|number||||1080319|||||| |Registered||office|||The Right Bank|||||| ||||||The Square|||||| ||||||Talgarth|||||| ||||||Brecon|||||| ||||||Wales|||||| ||||||LD3 OBW|||||| |Trustees|||||C Newington-Bridges-|||Chair||| ||||||R Murray- Vice Chair|||||| ||||||Major P Darling|||||| ||||||H Harrison|||||| ||||||P Horsburgh|||||| ||||||AJohnson|||||| ||||||P Lloyd|||||| ||||||C Morley|||||| ||||||EPassey|||||| ||||||M Timmis|||||| ||||||R WBlears|- resigned||30/11/20||| ||||||AJ R Sawyers - resigned
30/10/20|||||| ||||||KWaters -|resigned|13/07/20|||| ||||||R Edwards|- appointed||19/3/21||| ||||||F Hillman - appointed|||19/3/21||| ||||||R Norman|-appointed||19/3/21||| |Key management|||personnel||SEvans - CEO|||||| ||||||SJohnson-|Marshall|-|Head|ofMarketing|| ||||||KAdams -|Head of Land Management||||(England)| ||||||SGray - Head of Finance|||||| ||||||LMacdonald Ames - Head ofOperations|||||| ||||||G Davies -|Head of Natural|||Capital|| |Auditor|||||Azets Audit|Services||||| ||||||Ty Derw|||||| ||||||Lime Tree Court|||||| ||||||Carditf Gate Business|||Park||| ||||||Cardiff|||||| ||||||CF23 8AB|||||| |Bankers|||||NatWest|||||| ||||||27 High Street|||||| ||||||Brecon|||||| ||||||Powys|||||| ||||||LD3 7LF|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Current financial year|Current financial year|||||||Restated| |---|---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Endowment|Total|Total| |||||funds|funds|funds||| |||||2020|2020|2020|2020|2019| ||||Notes|8|6|6|8|| |||r m||||||| |Donations
and legacies||||67,476|83,125|18,795|169,396|129,727| |Charitable
activities||||236,850|1,053,544||1,290,394|1,342,288| |Other trading
activities||||388|5||393|1,486| |investments||||169||3,785|3,954|4,799| |Other income||||||||778| |Total income and|endowments|||304,883|1,136,674|22,580|1,464,137|1,479,078| |E~dit||||||||| |Raising funds|||8|21,602||1,505|23,107|1,826| |Charitable
activities|||9|346,666|999,648||1,346,314|1,353,416| |Total resources expended||||368,268|999,648|1,505|1,369,421|1,355,242| |Net gains/(losses)|on investments||14|||5,304|5,304|24,450| |Net (outgoing)/incoming||resources||||||| |before transfers||||(63,385)|137,026|26,379|100,020|148,286| |Gross transfers
between funds||||14,257|(14,257)|||| |Net movement
in|funds|||(49,128)|122,769|26,379|100,020|148,286| |Fund balances at 1 January||2020||(32,161)|210,359|223,441|401,639|253,353| |Fund balances at|31 December|||||||| |2020||||(81,289)|333,128|249,820|501,659|401,639| ## ## ## |Prior financial year|||||Restated||Restated| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Endowment|Total| |||||funds|funds|funds|| |||||2019|2019|2019|2019| ||||Notes||f|6|8| |wm|n||||||| |Donations snd legacies||||37,401|76,359|15,967|129,727| |Charitable
activities||||204,850|1,137,438||1,342,288| |Other trading activities||||1,030|456||1,486| |Investments||||154||4,645|4,799| |Other income||||778|||778| |Total income and endowments||||244,213|1,214,253|20,612|1,479,078| |Raising funds||||360|68|1,398|1,826| |Charitable
activities|||9|278,733|1,074,683||1,353,416| |Total resources expended||||279,093|1,074,751|1,398|1,355,242| |Net gains/(losses)
on investments|||14|||24,450|24,450| |Net (outgoing)/incoming
transfers||resources before||(34,880)|139,502|43,664|148,286| |Gross transfers
between|funds|||(14,350)|14,350||| |Net movement
in funds||||(49,230)|153,852|43,664|148,286| |Fund balances at 1 January||2019||17,067|56,509|179,777|253,353| |Fund balances at 31 December 2019||||(32,163)|210,361|223,441|401,639| ## ## ## ||||2020||2019|| |---|---|---|---|---|---|---| |||Notes|6||8|| |Fixed assets||||||| |Tangible assets||15||16,895||29,287| |Investments||16||238,819||223,447| |||||255,714||252,734| |Current assets||||||| |Stocks||18|||55|| |Debtors||19|291,983||258,833|| |Cash at bank snd in|hand||398,341||193,368|| ||||690,324||452,256|| |Creditors: amounts|falling due within|||||| |one year||20|(400,247)||(303,351)|| |Nei current assets||||290,077||148,905| |Total assets less current liabilities||||545,791||401,639| |Creditors: amounts|falling due after|||||| |more than one year||21||(44,132)||| |Net assets||||501,659||401,639| |Capital funds||||||| |Endowment
funds - general||25||249,820||223,441| |Income funds||||||| |Restricted funds||26||333,128||210,361| |Unrestricted
funds||||(81,289)||(32,163)| |||||501,659||401,639| ## ## ## ## ## ## |||||2020||2019|| |---|---|---|---|---|---|---|---| |||||8||8|| |Cash flows from operating|activities||||||| |Cash generated
from/(absorbed||by)|30||||| |operations|||||161,089||(12,724)| |Investing
activities|||||||| |Purchase oftangible fixed assets||||||(5,545)|| |Proceeds on disposal oftangible||fixed|||||| |assets||||||778|| |Purchase of investments||||(59,692)||(51,487)|| |Proceeds on disposal of investments||||49,622||21,590|| |Investment
income received||||3,954||4,799|| |Net cash used in investing|activities||||(6,116)||(29,865)| |Financing
activities|||||||| |Repayment
of borrowings||||50,000||100,000|| |Net cash generated
from financing|||||||| |activities|||||50,000||100,000| |Net Increase
In cash and cash||equivalents|||204,973||57,411| |Cash and cash equivalents|at beginning||ofyear||193,368||135,957| |Cash and cash equivalents|at end of||year||398,341||193,368| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Ol
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0|| ||||||CI|CI|| ## ## ## ## |||||Restated| |---|---|---|---|---| ||||2020|2019| |||||6| |Passport|scheme||91,829|84,940| |Miscellaneous|||2,288|2,237| |Grants|||1,196,277|1,255,111| ||||1,290,394|1,342,288| |Analysis|by fund|||| |Unrestricted
funds|||236,850|204,850| |Restricted||funds|1,053,544|1,137,438| ||||1,290,394|1,342,288| ## |Other trading
activities||||||| |---|---|---|---|---|---|---| ||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| ||funds|funds||funds|funds|| ||2020|2020|2020f|2019|2019
f|2019
5| |Sale ofmerchandise|388||393|1,030|456|1,486| |Investments||||||| ||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| ||funds|funds||funds|funds|| |||general|||general|| ||2020|2020|||2019|2019| ||6|6||||6| |Interest and dividends|169|3,785|3,954|154|4,645|4,799| ## ## ## ## ||||||||Total|Unrestricted| |---|---|---|---|---|---|---|---|---| |||||||||funds| ||||||||2020|2019| ||||||||2|2| |Net|gain|on|disposal|oftangible|fixed|assets||778| ## ## ## ||||Restated| |---|---|---|---| |||2020
6|2019f| |Stall costs||104,235|91,260| |Costs of donated services||12,959|3,792| |Direct expenses||348,811|347,334| |Marketing||18,387|45,783| |||484,392|488,169| |Share ofsupport costs (see note 11)||854,922|853,392| |Share ofgovernance|costs (see note 11)|7,000|11,855| |||1,346,314|1,353,416| |Analysis
by fund|||| |Unrestricted
funds||346,666|278,733| |Restricted funds||999,648|1,074,683| |||1,346,314|1,353,416| |Grants payable|||| ||||Restated| |||2020|2019| |Grants to institutions:|||| |Herefordshire
Wildlife|Trust|72,600|67,875| |Severn Rivers Trust||45,365|68,979| |||117,965|136,854| ## ## ## ## |11|Support costs|Support costs|Support|Governance|2020|Support|Governance|2019| |---|---|---|---|---|---|---|---|---| ||||costs|costs||costs|costs|| ||||f|||E|6|| ||Staff costs||711,580||711,580|690,046||690,046| ||Depreciation||12,392||12,392|14,334||14,334| ||Motor and|travel|38,523||38,523|52,707||52,707| ||Premises|and office||||||| ||costs||47,828||47,828|86,114||86,114| ||Financing||66,201||66,201|10,191||10,191| ||Audit fees|||7,000|7,000||11,855|11,855| ||||876,524|7,000|883,524|853,392|11,855|865,247| ||Analysed|between||||||| ||Fundraising||21,602||21,602|||| ||Charitable|activities|854,922|7,000|861,922|853,392|11,855|865,247| ||||876,524|7,000|883,524|853,392|11,855|865,247| ## ## ## ## |||2020|2019| |---|---|---|---| |||Number|Number| |Staff deployed|in projects|23|23| |Staff deployed|in central administration|3|3| |Total|||26| |Employment|costs|2020
8|2019f| |Wages and salaries||678,160|650,128| |Social security|costs|59,588|59,769| |Other pension|costs|78,067|71,409| |||815,815|781,306| ## |Endowment|Endowment| |---|---| |funds|funds| |general|general| |2020|2019| |8|8| |5,304|24,450| ## ## |15|Tangible fixed assets|||||| |---|---|---|---|---|---|---| ||||Office|Computer|Motor vehlclee|Total| ||||equipment|equipment||| ||||6|8|8|| ||Cost|||||| ||At 1 January 2020||1,543|7,270|54,905|63,718| ||At 31 December 2020||1,543|7,270|54,905|63,718| ||Depreciation
and impairment|||||| ||At 1 January 2020||450|6,183|27,798|34,431| ||Depreciation
charged|in the year|386|1,025|10,981|12,392| ||At 31 December 2020||836|7,208|38,779|46,823| ||Carrying
amount|||||| ||At 31 December 2020||707|62|16,126|16,895| ||At 31 December 2019||1,093|1,087|27,107|29,287| |16|Fixed asset investments|||||| |||||Listed|Cash in|Total| ||||investments||portfolio|| |||||8||| ||Cost or valuation|||||| ||At 1 January 2020|||220,008|3,439|223,447| ||Additions|||59,692||59,692| ||Valuation
changes|||5,302||5,302| ||Cash movement||||(2,377)|(2,377)| ||Disposals|||(47,245)||(47,245)| ||At 31 December 2020|||237,757|1,062|238,819| ||Carrying
amount|||||| ||At 31 December 2020|||237,757|1,062|238,819| ||At 31 December 2019|||220,008|3,439|223,447| |17|Financial instruments||||2020|2019| ||||||8|6| ||Carrying
amount offinancial assets|||||| ||Instruments
measured|at fair value through|profit or loss||237,757|220,008| ## ## ## |18|Stocks||||||| |---|---|---|---|---|---|---|---| |||||||2020|2019| |||||||8|6| ||Finished goods||and goods for resale||||55| |19|Debtors||||||| |||||||2020|2019| ||Amounts
falling due within one year:|||||6|6| ||Trade debtors|||||102,468|21,664| ||Other debtors|||||173,381|221,734| ||Prepayments|and accrued income||||16,134|15,435| |||||||291,983|258,833| |20|Creditors: amounts|||falling due within one year|||| ||||||Notes|2020
6|2019f| ||Borrowings|||||105,868|100,000| ||Other taxation||and social security|||17,125|15,165| ||Deferred
income||||23|11,575|81,492| ||Trade creditors|||||21,455|11,642| ||Other creditors|||||211,010|49,150| ||Accruals|||||33,214|45,902| |||||||400,247|303,351| |21|Creditors: amounts|||falling due after more than one year|||| |||||||2020
6|2019f| ||Borrowings|||||44,132|| ## ## |22|Loans and overdrafts|Loans and overdrafts|Loans and overdrafts||||| |---|---|---|---|---|---|---|---| |||||||2020|2019| |||||||6|6| ||Other loans|||||150,000|100,000| ||Payable|within one year||||105,868|100,000| ||Payable|after one year||||44,132|| ||Amounts|included|above which fall due after five years:||||| ||Payable|by instalments||||4,098|| |23|Deferred|income|||||| |||||||2020f|2019
8| ||Other deferred
income|||||11,575|81,492| ||Deferred|income|is included|in the financial statements|as follows:||| |||||||2020|2019| |||||||6|8| ||Balance|brought|forward|||81,492|81,754| ||Income received|||||21,912|84,678| ||Income released|||||(91,829)|(84,940)| ||Balance|carried forward||||11,575|81,492| ## ||||W0
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from|operations|operations|||||2020|2019| |---|---|---|---|---|---|---|---|---|---| |||||||||6|6| ||Surplus for the year|||||||100,020|148,286| ||Adjustments
for:||||||||| ||Investment
income recognised||in statement||offinancial|activities||(3,954)|(4,799)| ||Gain on disposal oftangible
fixed assets||||||||(778)| ||Fair value gains and losses on||investments|||||(5,304)|(24,450)| ||Depreciation
and impairment
oftangible fixed assets|||||||12,392|14,334| ||Movements
in working|capital:|||||||| ||Decrease/(increase)
in|stocks||||||55|(22)| ||(Increase)
in debtors|||||||(33,148)|(151,158)| ||Increase/(decrease)
in|creditors||||||160,945|(75,629)| ||(Decrease)/increase
in|deferred|income|||||(69,917)|81,492| ||Cash generated
from/(absorbed|||by) operations||||161,089|(12,724)| |31|Analysis ofchanges|in net funds|||||||| ||||||||At 1January|Cash flows|At 31 December| ||||||||2020f|6|2020| ||Cash at bank and in hand||||||193,368|204,973|398,341| ||Loans falling due within|one year|||||(100,000)|(5,868)|(105,868)| ||Loans falling due after|more than one year||||||(44,132)|(44,132)| ||||||||93,368|154,973|248,341|