R•glst•red number: 03968699 Charlty numr. 1081455 WFN SIIPPORTIMG CONSERVATION LEAOERS THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE WHITLEY FUND FOR NATURE (A company limited by guarantee) CONTENTS Pag6 Trustees. report Independent audllors. report 9- 11 Stalement of financlal actlvltle• 12 8alanc• shoel 13 Statement of Cash Flows 14 Notes to th• financlal stat•m•nts 15-26
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Truslees. who aré also directors of thè Charity for the purposes of the Companies Act, subrnit their annual rèport and the financial statements of the Whitley Furid for Nature (the Charity) for Ihè yèar end8d 30 June 2024. The Trustees confirm that the annual report and financial statements of Ihe Charity comply with current ststutory requirements. the requirements of the Charitys goveming d(Kument and the provisions of the Statement of Recommended Practice - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in lh6 UK and Republic of Ireland (FRS 102) (effective 1 January 2019.) OBJECTIVES AND ACTIVITIES Purpo$•s and alms The Charitable objects of the Charity, as set out in its Memorandum of Association. are that of.. {1) Promoling conservation, preservation and resloration for the public benefit ol the world's animal, bird. fish and plant life, and ils industrial, urban, rural, natural and marine environrnenls of ecological or scientific importance, and its natural resources: (2) To advance the education of the public in natural hislory. environmental studies, ecology and conservation in industrial, uthn. rural, arKI marine environments: (3) Relieve the suffering of animals of any species which are in need of care and attention and assisl in the provision of veterinary sepiices for animals whether in capiivity or otherbvise. To meet these charitable objects. the Whitley Fund for Nature (WFN) is a fundraising and grant giving nature conservation organisation which works to hall and reverse the loss of Earth's biodiversity and wild places. working alongside local people to create 8 future where communities and wildlife thrive together on a healthy planet. We achieve our rnission by: 1. Provlding funding, recognition and tralnlng to proven gra•sroots conservatlon leaders working across the Global South. a) The charity achieves this by granting Whitley Awards prestigious. high profile. competitively awarded granis of one year's project funding - ai an annual Ceremony in London, with speech and media training gNen. 2. Supportlng the growth and scale up of Impactful conservatlon solutlons. a) Granting competitively awarded Contsnuation Funding of up to £100,LK)O for a period of up to v0 years, which helps previous Whilley Award winners sustain and scale their conservalion work. b) Granting an annual Whilley Gold Award to a previous Whitley Award winner who has made consistent and outslanding contributions lo consepiation. c) Enabling knowledge sharing between winners, supporting and organising field visits, Irainings, networking events, and fostering collatK)ration on projects under its Winner Network Development programme. d) Making introductions between Whttley Award winners and extemal NGOS. providing alurnni references and norninalions. communicaling opportunrties and sharing Information abt winners. achievements to help past Whitley Award winners access further funding and awards. 3. Ralslng the proflle of conservatlonlsts. work and thelr ablllty to effect posttlve envlronmental change. a) ProvIng regular updates of winners, progress on our website. sodal medla. and through newsletters and dorKX reports. b) Leveraging publicty generated by the annual Whitley Awards Ceremony, arranging media training for the winners. and providing PR support to winners throughout the year focused on positive storytelling to boost winners, profile, hTrghlht conseNallon Issues and secure media coverage of wlnnerfs work in Ihe UK and internationally.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Grant Maklng Pollcy Grants are awarded based existing and potents'al positive irnpact on consorvatw)n and I(1 communities, and folk)w fomial applicats'on processes. They are given to nationals of countries across the Gk>bal South where funds are hardest lo raise but have Ihe biggest irnpacl for biodiversity conservation, people and clirnate. Whitley Awards, worth £50,000 in funding over one year, are applied for by an annual deadline and are assessed by an academic panel wilh a range of conservation expertise. The Judging Panel then selects the finalists and interviews each finalist before making deasTrons to granl the Whitley Awards. These projects are rnonitored through six and twelve month fomial rerx)rts. reviewed by WFN'S Head ol Grants. Whilley Awards come with a substantial boost in profile. communications training and PR support. The annual Gold Award, a one to two year grant of up to £100,000, is given to a previous winner. chosen by the Director and Trustees in recognition of the recipient's outstanding contribution to conseprfation. Continuation FurKJing grants are up to £100.000 and are available exclusNely to past Whitley Award winners. These grants have a separate applicalbon process, where applicants submit an initial concept note, which is reviewed by WFN'S Head of Grants and Director. Top applicanls are invited lo submit a full proposal, and awardees are chosen by Ihe Head of Grants, Director, and extemal assessors, and approved by the Trustees. Continuation Funding can be given over one to two years, and is generally paid in two installments. The Charity requires annual formal reporting to monitor projects and ensure funds are utilised appropriately. Where it is considered Ihal a project for which a two year grant has been awarded is nol meeting these criteria the second paym6nl may be withheld. To further support Whitley Award alumni. two addits'onal pools of fufKling are available - the first enables past winners to apply for financial support to pursue legal aspects associaled with their projects and the second provides small bursaries allowing winners lo build knowledge and capacity by attending relevant training courses and conferences or by meeting fellow Whitley Award alumni to exchange ideas or work collaboratively. Publlc Beneflt When reviewing the charity's aims and objecttves, In planning ftrture activities, and vthen settlng the grant making policy for the year, the Trustees confirm that they have referred to the guidance contained in the Charty Commission's general guidance on public benefft, and the duties set oul in Section 17<5> of the Charities Act 2011. induding the guidance "Public Benefit.. Running a Charity (PB2)." The chartty supports effective ¢omrnunty and science-based conservaiion actlon which protects the wild places and processes on which wildlrfe and people rely for food. breathable air, and clean water. The benefits extend not just to halting afKI reversing wildlrfe decline and climate change. but working with communities for humanitarlan benefit, projects also address human povety using strategies that encourage economic grovrth. enable sustainable development. provide education, livelihood sknlls and address a range of soclal needs. The charity advances the educatTron of the public by highluhling the threais to our natural world and demonstrating the value of practs'cal, cornmunty-led initiatives to conserv8 it. Volunteern WFN is grateful for the effort of those who affj invofved tn Ihe execution of its events and for the support from olher volunteers for Iheir lime in undertaking administrative tasks al busy limes. No assessment has been made of Ihe financial value of such supp(.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Fundralslng Practlces Approach to fundralslng The Whitley Fund for Nalure believes in upholding the highest standard of principles in respect of fundraising. Many donors are good friends ol Ihe charity. with whom a close. professional relationship is maintained. WFN'S Head of Partnerships manages relationships with Ihe Major Donors. often lamily and charitable Irusls who have supported the charity's work over Ihe years. Addrtionally. the Head of Partnerships looks to build connections wilh new donors through an infomied. respectful approach. eilher reaching out when introduced by one of the charity's current donors or contacts or through a formal proposal process. always adhering lo guidance set out by Ihe Charity Commission and Fundraising Regulator. The charity also holds a fundraising andlor donor relationship building eveni annually. which allows supporters io engage more closely with the work of the charity's grantees, while supporting it through licket sales and voluniary donatTrons. The Whitley Fund for Nature does not use a professional fundraiser or commercial participator for its fundraising purposes. Fundral8lng standards The charlty performs no canvasiTrJ. street fijndraising. or large public fundraising campaigns, but is aware of the Code of Fundraising Practice set out by the Fundraising Regulator and as members works to ensure it complies with the code in its daily operations. WFN provides a generous budget for staff training. which the Head of Partnerships and other staff have used to attend fundraising-specific training over the past years lo ensure they are well-equipped to fundraise professionally and in-line with industy standards. In preparation for Ihe May 2018 General Data Protection Regulation. the charity reviewed the ways in which supporters are contacted and how their personal data is stored and processed. Two staff members have received data protection training. monitor compliance and regularly share their learnings with the other staff. The charity has implemented processes to gain informed consent from its supporters to inform them how their data is stored and used, and how the charity contscts them. The charity's Privacy Policy is publidy available on the charity's website and has been shared wrth all supporters. Having no commercial or professional fundraisers acting on its behalf. there has been no need to monitor fundraising activities OLrtside the charity. The charty is nol aware of any failure on its part to comply with the Code of Fundraising Practices as set out by the Fundraising Regulator. The charity supports the work of the Regulalof and pays its annual levy. Helplng supporters. addmslng complalnls. protectlng vulnerable people and the publ1¢ No cornplaints have been receNed about the charity's fundraising practices. All contacts are asked whether they d like to opt in or out of phone and email marketing communications and supporters are contacted only when necessary or desired. The charity does not practise door to door fundraising or target the general public with largescale marketing or fundraising campaigns. The Head of Partnerships and Director have a close rèlalionship with the Major tk>nors and many of the charity's Othèr supporters, practicing respect and keèn judgement. and never engaging in fundraising activitie5 With anyone thought to be vulnerable. The charity never placès undue pressure on any person to support its work. financially or otherwise, and respects every person's privacy and right to donate as they wish. WFN has a Safeguarding Policy, reviewed annually, which outlines thè charity's commitments to protecting the safety and welfare of the individuals with whom it works alongside, and this is shared wth all staff members upon joining the charity.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AND PERFORMANCE At the 2024 Vlhitley Awards Ceremony in May, six Whitley Awards winners (out of 98 completed applications) were granted £50,000 each; 2017 Whitley Award winner Pumima Bamian was the WFN alumnus selected by the Director and Trustees to receive the £100.000 Gold Award. Conts'nuation Funding lotaling £1.4 million was awarded to slxteen former winners In early 2024 - 8 record level for the charity. This includes £19,000 given to five alumni lo support the investigation of speafic legal aspects associaled wilh their projects through an additional fund available lo pasl winners established thanks to the generosity of an individual donor. Note 21 of the Financial Statements providès a list of all winners awarded grants during Ihe financial year. During the calendar year 2023, past winners achieved some important gains for conservation. and highlights of these are shared in the charity's Winner Achievements report which is published annually. 2023 was also the charity s 301h Anniversary and it used the occasion lo evaluate its irnpact over the period since its founding by publishing a 30 Year Impact Assessment Report. While concentrating on the impact that winning a Whitley Award had on the winners themselves and the impact that these winners have had on wildlife conservalion since winning the Award, the report also hKJhlighted Ihat the charity had raised £30m incorne during its 30 year history and had used £27m of this lo undertake charitable activities, £21 m of which was by way of direct conser¥ation grants. The Charity reviews its fundraising plans and targets at the three Trustee Board Meetings hekl during the year and every few years at an Away Day, adapiing to the needs of the organisation and ils winners. FY23124 saw the charity celebrale its 30th Anniversary, during which it held a series of evenls to mark the occasion. A two. day Biodiversity Summit brought people togelher across sectors to learn from Whrtley Gold Award winners on crucial topics for the future of our planet, educating audiences and attracting new supports: and a dinner with WFN'S Patron HRH the Princess Royal was held at St. James's Palace to thank existing supporters. Through these events and over the year, the charity saw the addition of four new major donors (those giving £20,000 and above) and several existing major donors increase Iheir level of giving. Fundraising success has enabled continued groyrth of the Winner Nelwork Development programme, with the second in-person regional winner training event held in Brazil in August 2023. bringing together 13 Latin America-based winners for a week of peer-tfrpeer leaming exchange, networking and ideas sharing. The first year of the new Small Bursaries Fund has been very successlul and proved popular among alumni, with just over £25,000 total given to enable 13 winners, professional growth. improved capacty, and knowledge sharing to strengthen their conservation work. Wider public interest to potentialty new supporters and lo those who may benefit from greater awareness of the charity s aims and activities is also being generated through the charity's websile and social media. Media coverage for the 2024 winners reached audvances around Ihe world. with over 253 print. broadcast, and online pleces of coverage about winners between the 2024 CeMonY and 30 June 2024. X (formerly Twitter {@VthitleyAwards)) impresslons were, on average over 23.200 per monlh with the average number of people reached through Insiagram and Facebook each month being over 7.600 and 53,200 rospectively, while tho website (www.whrtleyaward.org) was visited by 65,000 users over the year. Factorn affectlng the Achl•v•ment of ObJ•ctlv•s The steady increase in donation income over the last five years has enabled the charity lo invesl in its winner network through higher direct grant giving. including the increase of Whitley Awards to £50.000. and additional support initiatives such as the regional training. Ihe legal support and small bursary programmes. Of specific SnIficance during the year were the Anniversary events in Ihe forni of the Biodiversity Summrt and Royal Dinner which delivered both enhanced awareness of topical conservation issues and the expertise and commitment of our winner netrwork as well as an immediate increase in donations received.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 FINANCIAL REVIEW Revlew of the Year Total income was 140A higher than in the previous year as donations exceeded £2.5m for the first lime and Investment Income rose to almost £110.000 thanks to the increas6 in interesl rates Following a relatively low level in 2023 and as a consequence of increasing the number of continualion funding grants, expenditure rose by over £1 rn In the year. The level of resources invested in fundralslng and winner support activities also both Increased year on year. Expenditure therefore exceeded income in the year by £46.220. AI 30 June 2024 total lunds had fallen by Ihat amount lo £3,003.113 of which £355,856 is reslricted and will be used to award Continuation Funding grants and lo support developrnenl of the Winner Netsvork. All other hjnds are unrestricted bul the Trustees have designated a further £2,083.497 (see nole 18 of the financial statements) for future Whitley Awards, Continuation Funding grants and winner bursaries and to fund a lulure Awards Ceremony. In total, £1.64m was available for future Continuation Funding al 30 June 2024 and no fund was in def11 at that date. Ro8oTh•s poIIcy The Trustees recognise the major risk is a fall in incorne from donations and have set a policy so that the grants programrne and the activities to support it are Protected in the short lem. The minimum level of reseNes the Trustees have established is sufficient to allow the charity lo grant the cuslomary number of annual Whitley Awards plus one Gold Award at the following year's Award Ceremony and for the charity to continue operats'ng and lo be able to finance fundraising activities and other planned events for one year. Such a policy requires total reserves of £1.238,230. being £400,0(M) fof the Whitley Awards, £1 $9,470 for the Award Ceremony and £678,760 for Ihe operating, fundraising and planned events costs. Of the £1,238,230, £95,000 will be funded from reslricted funds and the remaining £1,143,230 from unrestricled funds. Total unrestricted funds al 30 June 2024 were £2,647,257 of which £1,499,028 was designated for Continuation Funding. With remaining funds at £1,148,229 the Trustees are of the opinion there are sufficient reserves for Ihe Chanty to run efficiently arKI meet its obj'ectives in the immediate future. Golng conc•rn The Trustees ar8 of the opinion that the assets and reserves of the Society. in the light of its committed income, expendrtures and cash flows, are adequat8 to support its on-going activits'es and obligations. However. rf donation income were to fall SignAnt1y, the Trustees would look to use some of the charity's reserve to maintain ils granl giving programme. or allematively reduce Ihe level of Contsnuatson Funding awarded until income levels recovered. Prlnclpal fundlng Thirty donors gave £20,000 or more during the year under review, with five giving £100.000 or over. There is no single principal funder bul the hhest single donor gave £500.000 wilh a commitment for the same amount fof a further 4 years.. WFN has enjoyed growing success during ils 30 year history and every donor has been extremely important. Inveslmenl pollcy and objecllves The Chanty has only bank deposits on whh rt seeks lo achieve 8 competrtive interest rate as funds are generally only held for short term needs.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Prlnelpal rlsks and uncertaintles The Trustees have a risk rnanagemenl stratw comprising: an annual review of the principal risks facing the Charity; and. the establishment and implementation of procedures to mal0 the risks and to minimise any potential impact on the Charity. As an organisation with no endowrnenl fijnding, being reliant upon annual support frorn its donors, the review has identified that medium temi financial sustainability is a rnajor risk to being able lo mainlain charitable acts'vilies. A further Klenlified risk is the potential reputallonal damage of receiving donats'ons from inappropriate sources. As a result, future income is uncertain and the ability lo retain existing and attract new donors may be limited and cause income to fall. which is contrary to Ihe charity's ambition to increase ina)me and meet increasing winner need. Plans & strat•gl•s for managlng the rlsks The charity's strategy has been prepared with c<x)sideration to Ihese risks and the Truslees regularty review the Charity's financial position and its irnpact on its charitable activities for which expendilure is targeted to be al least 850/0 of income over the medium temi. Wherever possible the Charily seeks to secure donations and olher funding for periods of more than one year to improve sustainabilily and the Trustees have also established a resenies policy which rnitigales the effect of a dUctIon in voluntary income in the short tenn. To reduce Ihe level of risk from receiving donations from inappropriale sources the trustees have introduced a donor acceptance policy which includes the requirernent to subject all potential donations over £20.000 lo due diligence procedures. Plans for the futur• The charrty plans to undertake a strategic review in Winter 2025 in order to address how it will further develop supp)rt to the growing network of winners around the world. There is an Inasir*g demand for Continuation Funding and the recently introduced winner training and small bursary programmes have proved to be popular and successful. This has enabled Whttley Award alumni to build capacty and facilttate collective conservation impact. We seek to expand this activity of collaborats'on belween the winners and will seek specific support from donors to help meet this objective. The charity ll11 continue to increase the public awareness of challenges facing conser4ationists and seek to encourage donor support. This will be achieved through events which build on the success of the People for Planet Summit in 2023 and by increasing investment in the Next Generation programme to recognize, hamess and stsmulate Ihe growing interest in the environment by young people. STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The Charity is governed by its Memorandum of Association daled 10 April 20CMJ and is constituted as charitable company limited by guarantee, incorporated on 10 April 2(K)O. It is a registered charity. number 1081455. The members of Ihe company are the Trustees. In Ihe event of the Charity being wound up, the liabillty of each member in respect of the guarantee is limrted to £1. Trustees are responsible for achieving tho charty's obiedives and have delegated day to day responslbility for adrninistering the Charity to ihe Direclw. All major grants must be authon'sed by ai leasi one Trustee. m•th¢ of Appolntm•nt and Inductlon of Tru810•• Trustees are elected army co-opted under the terms of Ihe Articles of Association. When seeklng new Trustees, the existing Trustees would look to appoint someone who was already familiar wilh the work of the Charity andlor aclive in the field of conservation. Once appoinied the Trustees would menior the new Trustees and encourage them to attend Trustee meetings regularly where possible and familiarise themselves with the objectives of the Charity. Each Trustee is advised of the polbcies and procedures of the Charity.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT contd Related parties and relationships wlth other organlsations Three Trustees were connected to other organisatKins from whom the Charity received donations during the year to 30 June 2024. These related party transactions are disclosed in Note 20 to the Financial Statements. Grants or donalions received from relaled parties are generally for a period of one year after which the grant use has to be reported formally to the donor. Subsequent grants are separately awarded and reported upon. Remuneratlon pollcy for key managernenl personnel A Remuneration Committee, comprising two trustees and an external advisor, has been established to review annually all pay and remunerats'on. including that of the key rnanagement personnel. The Committee makes its r6commendalions to the Trustee Board which decKles the lev81 of pay and rernuneralion of all staff. In corning to their recommendations and decisions the Remuneralion Committee and Board lake into account the aims and values of the Charty. the slralegic plan and the ability to pay. individual competencies and performance, remuneration levels at similar charities. and retention. Theso factors are not exclusive and any decision will inevitably Include an 818m8ni ol discretion. REFERENCE AND ADMINISTRATIVE DETAILS Trustees E.J. Whitley Esq. OBE. (Chair) Lady Catherine Faulks l.K. Lazarus Esq D. J. Martins Visitacao Esq F.J. Sullivan Esq. Ms D. Parks Oirector Company registered number Chaiity reglstered number Registered office 03968699 1081455 Calder & Co 30 Orange Street London. WC2H 7HF Auditors Caklers (1883) LLP Statutory Auditor & Chartered Accountants 30 Orange Street. London. WC2H 7HF CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill West Malling. Kent. ME19 4JQ Bankers
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Statement of responslbllltles of the truste•$ The Trustees (who are also directors of the Whitley Fund for Nalure for the purposes of company law) are responsible for preparing the Truslees. report and the financial siatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice), Company and charity law requires the Trustees lo prepare financial slalernenls for each financial year which glve a true and falr view of Ihe state of affairs of the charitable company and of the incoming resources and applicatlon of resources, including ihe income and expenditure. of the charitsble company for that period. In prepaiing these financial staternenls. Ihe Truste6s are required to: select suiiable accounting policies and then apply them conslsienlty observe the methods and principles in the Charities SORP make judgments and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concem basis unless it is Inappropriate to presume ihat the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting reccwds that dtsclose with reasonable accuracy at any time the financial position of the charilable company arKI enable them to ensure that the financial siatements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for laking reasonable steps for the prevention and delection ol fraud and other irregularities. This report has been prepared in accordance with the Ststement of Recommended Practice - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and with the provisions of the Companies Act 2006. 11 has also been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. The Trustees are responsible for Ihe maintenance arKI integrity of the tharity and financial infomiation included on the charity's website. Legislalion in the United Kingdom goveming the preparation and dlssemlnation of financial statements may differ from legislation in other jurisdictions. Statement as to dlsclosure lo our audltorn Each of the pefisons who are Trustees al the time when this Trustees. report is approved has confimied that: so far as that Truslee is aware, there is no relevanl audit information of which the Charity's auditors are unaware. and that Trustee has taken all the steps that ought to have been taken as a Trustee In order to be aware of any infomialion needed by the Charity's auditors in connection with preparing their report and to establish thai ihe Charltys auditors are aware of that inforrnation. Audltorn Calder & Co were re-appointed as the auditors of the Whilley FurKI for Nature ai the Annual General Meeting in December 2023 and have expressed Iheir willingness to ¢onts"nue in that capacity. This Trustees. annual report has been approved by the Trustees on 10 December 2024 and signed on their behalf by: ..L4M/k'iJ.&....................... E. J. Whltley Esq, OBE. - Trust
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE WHITLEY FUND FOR NATURE OPINION We have audited the financial ststernents of The Whitley Fund for Nature (the 'chariiable cornpany ) for the year ended 30 June 2024 which comprise Th8 Statement of Financial Activities (incorporaling income and expenditure account). the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards. Including Financial Reporting Standard 102 The Financial Reporting Sl8ndard applKable in rhe UK and Republic ol Ireland {United Klngdom Generally Accepted Accounts'ng Practs'ce). In our opinion. the financial ststements-. give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources. including its income and expenditure. for the year Ihen ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practice,. and have been prepared in accffllance with the requirements of the Cornpanies Act 2006. 8ASIS FOR OPINION We conducted our audit in accordance with Inlemational Standards on Audits'ng (UK) {ISAs (UK)) and applicable18w. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, Including the FRC'S Ethical Standard. arKI we have fulfilled our other ethical responsibilits'es in accordance wrth these requirements. We believe that the audit evldence have obtained Is suffident and appropriate lo provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the trustees. use of the going concem basis of accounting in the preparab'on of the financial statements is appropriate. Based on the work we have perfomied, we have not identrfied any material uncertainties relating to events or condilions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concem for a period of at least twelve months from when the financial statements ar8 authorised for issue. Our responsibilities and the responsibilities of trustees with respect to going concem are described in the relevant sections of this report. OTHER INFORMATION The other information comprises Ihe infonnation induded in the annual report other than the financial siatemenls and our auditor's report Ihereon. The truslees are responsible for the other infomialion conlained wilhin Ihe annual report. Our opinion on the financial statements does nol cover the other information and, excepl to Ihe extent otherwise explicitly stated in our report. we do nol express any fomi of assurance conclusion thereon. Our fesponsibilily is to read Ihe other information and, in doing so, consider whelher the other inlormation is materially inconsislent wth the financial slatements or our knowledge obtained in the course of Ihe audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required lo detemiine whether this gives rise to a material misstatement in the financial stalements themselves. If. based on the work we have perfomed, we conclude Ihat Ihere is a malerial misstatement of Ihis other information. we are required to report Ihat fact. We have nothing to report in Ihis regard. OPINIONS ON OTHER MAThERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the aLKJit'. the information given in the Trustees. Report, which includes the Directors. Report prepared for company law purposes, for the financial year for vthich the financial statements are prepared is consistent with the financial statements; and Ihe Trvslees. Report. and the Directors, report included within the Trustees. Report, have been prepared in accordance with applicable legal requirements.
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE WHITLEY FUND FOR NATURE MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and rts environment obtained in the course of the audil. we have not identified malerial misstatements in the Trustees. Rewrt. We have nothing to report in respeci of the following matters in relation io which the Companies Act 2006 requlres us to rerth to you if, in our opinion: adequate accounts'ng records have not been kept. or returns adequate for our audit have not been received from branches not visited by us: or the financial statements are nol in agreement with Ihe a¢Unts.ng rewds and relums; or certain disclosures of trustees. remuneration specified by law are not made.. or we have not received all the infomialion and explanations we require for our audit; or the trustees were not entitled to prepare the financial stalements in accordance with the small companTres' regime and take advantsge of the small companies, exemptions in pparing the trustees, report and from the requirement to prepare a strategic pOrt. RESPONS181LITIES OF TRUSTEES As explained mole fully in the Trustees. responsibilities statement set out on page 8. the Trustees (who are also the directors of the charttsble company for the purposes of company law) are responsible for the preparatlon of the financial statements and for being satisfied thal they give a tme and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financlal statements that are free from material misslatement. whelher due to fraud or error. In preparing the financial statements, the trustees are responslble for assesslng the charilable company's ability to conts'nue as a going concem. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidale the charitable company or to cease operations. or have no realistic alternative but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from malenal misslatement, whether due to Iraud or efror. and lo issue an auditor's report thal includes our opinion. Reasonable assurance is a hh level of assurance, but is not a guarantee that an audil conducted in accordance with ISAS (UK) will always detect a matenal misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financ1 slalemenis. Irregularities, induding Iraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect malerial misstatements in resped ol irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: In identifying and assessing risks of material mi&81atemenl in respect of irregularitbes, including Iraud and non- compliance wilh laws arKI regulations. we considered and undertook the following audit procedures in response.. We obtained an understanding of Ihe legal and regulatory frameworks that are applicable to the charitsble company and determined that the most significant are those that relate to the reporting frameworks (Chanties SORP, United Kingdom accounting standards and Companies Act 2006): We obtained an understsnding of Ihe nature of the industry and sector. control environment and business performance.. The outcome of discussions with management and those charged with govemance and any matters we identified having obtained and reviewed the charitable company's documentation of their policies and procedures related to". - Identfying, evaluating and comptying with laws and regulations and whether they were aware of any instances of nonacornpliance or any actual or potential litigation or claims: - Detecting arKI responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - The intemal controls established to mitigate risks of fraud or non-cornpliance with laws and regulations; The matters discussed during the audit engagement team briefing regarding how and where fraud might occur in the financial statements and any potenb'al indicators of fraud. All engagement team members were advised lo remain alert to any indications of fraud or non-compliance with laws and regulatlons throughout the audit: 10-
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE WHITLEY FUND FOR NATURE Reviewing the financial statement discbosures and testing to supporting documentation to assess compliance wilh provisions of relevant laws arKI regulations described as having a direct effect on the financial stalements; Perfomiing analytical procedures to klentify any unusual or unexpected relationships that may indicale risks of material misstalement due to fraud: Reading minutes of meelings of those charged with govemance and reviewing correspondence with HMRC and inspection of relevant legal correspondence: In addressing the risk of fraud through management override of controls, testing the appropriateness ol journal entries and other adjustments by testing manual joumal entries, in particulaf journal entries relating to management estimates and entries determined lo be large or relating to unusual transactions: Assessing whelher the judgements made in making accounting estimates are indicative of a potential bias: and evalualing the business rationale of any signfficanl transactions that are unusual or outside Ihe nomal course of business: Assessment of the appropriateness of the collective competence and capabilities of the engagemenl team included consideration of the engagement team's: understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation: knowledge of the industy in whTrch the client operates: understanding of Ihe legal and regulatory requirements specffic to the charitable cornpany including the provisions of the applicable legislation the applicabl8 slatulory provisions: As a result of Ihese procedures, we considered the opportunities and incentives Ihal may exist within the charilable company for Iraud and identified the greatest polenlial for fraud in the areas in which management is required to exercise significant judgement. We are also required to perfonn specific procedures lo respond to the risk of manag8ment override. We also obtained an understsnding of the legal and regulatory frarnework thal the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the deterniination of the material amounts and disclosures in the financial statements. Those laws and regulats'ons considered to have a direct effect on the financial statements include UK financial reporting standards and Charity Law. Wilh regards to laws and regulations relating lo the operating aspects of Ihe charitable company, these were dlscussed with management and were not considered fundamental to the operating of the business therefore should not have a material impact on the financial statements. No instances of malerial non<ompliance were identified. However. the likelihLxxI ol detecling irregularities. including fraud. is limited by the inherent difficulty in detecting irregulafilies. the effectiveness of Ihe enlity s controls, and the nature. liming and exlenl of the audit procedures performed. Irregularities Ihal result from fraud rnh1 be inherenlly more difficull to delecl than irregulafilies that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detecled. even Ihough the audit has been planned and performed in accordance wilh ISAS (UK). A further descripts'on of our responsibilities for the audit of the financial statements is kKated on Ihe Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilrties. This description forms part of our Auditors, report. USE OF OUR REPORT This rep)rt 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 audil work has been undertaken so that we might state to the charilable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company s members as a body. for our albdrt Wofk, for this report, or for the opinions we have formed Callekffj61213)LLP Philip Ewen (Senior statuiory audrtor for and on behalf of Calders (1883) LLP Statutory Auditor and Chartered Accouniants 30 Orange Street London. WC2H 7HF Dale: 10 December 2024
THE WHITLEY FUND FOR NATURE (A Company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 30 JUNE 2024 Restrlcted Unrestrlcted Funds Funds 2024 2024 TOL11 Funds 2024 Tot81 Funds 2023 Noto INCOME FROM: Donations and legacies 575,769 1,935,673 2,511,442 2,261, 738 Other trading activities 14,085 14,085 150 Investment income 109.713 109,713 41,315 Total Income 575.769 2,059.471 2.635.240 2.303,203 EXPENDITURE ON: Raising Funds 27.027 170.373 197.400 164, 692 Charltsble activities.. Conservalion grants Support of Winnern 285,435 237,247 1,663,204 298,174 1.948,639 1, 159,016 535,421 328,878 Total ExndItUr• 549.709 2,131.751 2,681.460 1, 652,586 NET INCOME I IEXPENDITURE) FOR THE YEAR & NET MOVEMENT IN FUNDS 26,060 (72,280) (46,220) 650,617 RECONCILIATION OF FUNDS: Total funds brought foThYard 329.796 2,719,537 3,049,333 2,398,716 TOTAL FUNDS CARRIED FORWARD 355.856 2,647,257 3,003,113 3.049,333 The detailed 2023 comparalive Statement of Financial Activities is ported in note 2. The notes on pages 15 to 26 fomi part of these financial ststements. 12-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) BALANCE SHEET AS AT 30 JUNE 2024 COMPANY NUMBER 03968699 2024 2023 Note FIXED ASSETS Tangible Fixed Assets 13 6.281 8.374 CURRENT ASSETS Debtors Current asset investmenls Cash at bank and in hand 14 15 16 87,910 1,000,000 2,774,814 147.572 3,453.857 3.862,724 3.601.429 LIABILITIES Creditors.. amounts falling due wrthin one year 17 865,892 560,470 NET CURRENT ASSETS 2,996,832 3, 040.959 TOTAL ASSETS LESS CURRENT LIABILMES 3,003.113 3.049,333 TOTAL NET ASSETS 3,003,113 3.049,333 FUNDS Restricted funds 18 355,856 329, 796 Unrestricted funds Designated funds General funds 18 2,083,497 563.760 2.262.843 456. 694 Total Unrestricted funds 2,647,257 2.719,537 TOTAL FUNDS 3,003.113 3,049,333 The financlal stalements are prepared In accordance with the provisions applicable to (x)mpanles subject to the small companies. regime. The financlal stalements were approved by the Trustees on 10 D8c8mber 2024 and sned on their behalf by.. E. J. Whltley Esq. OBE- Trustee The notes on pages 15 to 26 forni part of Ihese financial statements 13-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 Not• 2024 2023 Net cash provldod byl{u8•d In) Oporatlng Actlvltles (8•• b•low) 211,244 253, 538 Cash Flows Irom Investlng Actlvltles Interest Income e1Ved Acquisilion of current asset investments Acquisition of tangible fixed assets 109.713 (1,000,000) 41,315 (10,468) Net cash provld•d byl{u8•d In) Inv•8tlng Actlvltl•• {890.287) 30,847 Change ITr cash and cash •qulvalents In th• y•ar 16 (679,043) 284.385 Cash and Cash Equivalents at Ihe beginning of the year 3.453.857 3,169,472 Total Cash and Cash Equlval•nts at th• •nd of th• Y•ar 16 2.774,814 3,453,857 Reconclllatlon of net Incomeloxpondlture to n•t cash flow from operatlng actlvftl•s 2024 2023 Net incomel{expenditure) for the year (as per the stalemenl of finanrjal activities) Adjustments for Interest income Depreciation Decrease (Increase) in debtofs Increase (Decrease) in creditors due within one year (46.220) 650,617 {109,713) 2,093 59.662 305,422 {41.315) 2.094 (87. 294) (270, 564) Net cash provldod byl{u8ed In) Oporatlng Actlvlllos 211,244 253,538 The notes on pages 15 to 26 fonn part of these financial statements 14-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES 1.1 Basls of preparatlon of financlal statements The financial siatemenls have been prepared in accordance with the Charilies SORP (FRS 102> Stalement ol Recommended Practice applicable lo charilies preparing their accounts In accordance wlth Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effectlve 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Acl 2006. The charity has taken advantage of the special provisions relating to small companies as set out in the CoMpanS Acl 2006. The charity meets the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cosl or transaction value unless otherwise slated in the relevant accounting policy or note. 1.2 Golng concern The accounts are prepared on a going concern basls after consideratlon by the trustees that there are no material uncertainties about the charity's ability to continue as a going concem. Such consideration includes a review of committed income and expenditures, cash flows and reserves. The trustees do not consider that there are any sources of ests'mation uncertainty at the reporting date that have a signtficant risk of causing a material adjuslment to the carrying amounts of assets and liabilities within the next reporting period. 1.3 Fund accountlng Unrestricted funds a available to spend on activities Ihai further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Irustees have decided at their discretion lo set aside to use for a specific purpose. Reslricted funds are funds which the donor has specified are lo be used solely for particular areas of the charity's work or for specific projects being undertaken by the charty. The aim and use of each deslgnated fund and of each restricted fund is set out in the noles to the financial staternents. 1.4 Incomlng rn8ourc08 Income is recognised when the charity has entitlernent lo the funds. any perfomance condilions attached to Ihe income have been mel. il is probable thal the income will be received and that the amounl can be measured reliably. Granls and donations are recognised as irKome in the year in which the donor stales the funds should b8 expended. Where no such statement is made the income is recognised in the year in which it is receivable. Income received in advance of the specific period in which it is to be used is deferred until the criteria for income recognition are met. Investmenl income is recognised when receivable and Ihe amount can be measured reliably by Ihe charily. 1.5 Donatlon8 of 8ervlc•8 and non4non•tary glft8 Where serrfices or othef non-moneiary gifts are provided to the charity as a donation, Ihe conlribulion is recognised as income based on the value of the gift, being the amount the charity would have been willing to pay to obtain an equivalent economic benefit.. a corresponding amount is then recognised in expenditure in the period of feceipt. The value of seprfices Provided by volunteers is not included. 15-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES ..-. continued 1.6 Resources expended Expendiiure is recognised once there is a legal or Ix)nstructive obligation to make a payment to a third party, it is probabl& that s8tt18ment will b8 required and the amount can be m8asur8d reliably. Grants expended are recognised in Ihe year they are awarded, unless sp8cific conditions are attached; such grants being recognised as expenditure when the conditions are fulfilled. Awards and grants made subject to conditions which have not been mel al the end ol the financial year are not accrued as expenditure, but are noted as a cornmitmenl. Multi-year granls which are payable in more than one instsiiment are fully acCnd as expendilure at the lime ihey are made subject to the exception sel out above. Expendrture is classified under the following activity headings: Raising funds". comprises the costs. induding allocaled support costs, Incurred in seeking donations. funding to support charitable activities and organising fijndraising events Chafiiable activities: cornprises ihe cosi of Grants awarded to cservatiOn1$ts out of furKls generaled solely by the charity through specific matched funding arrangements wth partners and the costs of resources. including allocated support costs. required to assess the applications for, and to monitor and evaluate the use of. such grants. Supporting winners. being the communty of Whitley Award winners assisted by the charty through a number of acbvrties including the annual awards ceremony. Costs whid) are attributable to a specffic activity are charged directy to that activty. Costs which are shared between a number of Specif athrties are charged directly to those activities based on the arnount of time or usage incurred in undertaking each of the specific activibes. 1.7 Allocatlon of support and governance costs Support and governance costs are incurred to further the work of the charity but are not incurred directly for raising funds or carying out charitable acts'vits'es. These costs. which are analysed in the notes to the financial statements, are allocated behveen the cost of raising funds and expenditure on each charitable activity based on the weighted average amounl of time undertaken by the charity as a whole on those activitles. 1.8 Forelgn Currencles Assets and liabilities in fOIgn currencles are translated into sterllng al the rates of exchange rullng al the balance sheet date. Transacb'ons in foreign currencies are Iranslated into sterling al the rale ol exchange ruling al the dale of Ihe transaction. Exchange differences are taken into account in arriving al the Net Incomel(Expendilure) for Ihe year. 1.9 Tanglble flxed assets and depreclatlon Tangible fixed assets are stated at cost less depreciaii(m. D6pr6ciaiion Is provided ai rates calculated to wriie off Ihe cosi of fixed assets, less their esb'maied residual value, over Iheir expected useful lives on the following bases; Office equipment and furniture Strah1 line Leasehold improvements are written off over the remaining period of the lease at the time the assets are acquired. Individual fixed assets costing below £1.000 are r1 capilald. 25% 16-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES ..-. continued 1.10 Fixed asset investrnents Investmenls which will not mature within 12 months of the Balance Sheet date aro Initially recognised at their transaction value and subsequenlly measured at their fair value as al the balance sheet date uslng the closing quoted Price. Any change in lair value is recognised In the statement of financial acts'vilies. 1.11 Debtors Accrued income is recognised where funds in respect of the financi81 per being reported have been received or invoiced after the Balance Sheet dale. Prepayments are recognised where payments, in respect of future financial periods have been made prior to the Balarbce Sheet date. 1.12 Current asset Investments Cash on deposit and cash equivalents wrth a maturity of less than one year but more than six months whSch are held for investmeni purposes rather than to meet short-temi cash commitments are recc*Jnised as current assel investments, initially at their transacts.on value and subsequently measured al their fair value as at the Balance Sheet dale. 1.13 Cash at bank and In hand Cash al bank and cash in hand includes cash and short term highly liquid investments with a maturity of six months or less from the date of acquisition or opening of the deposit or simllar accounl. 1.14 Credltorn Creditors and provisions are recognised at their invoTrced amount induding VAT. Accruals are based on agreed costs (including VAT) for services received prior lo the Balance Sheel date but not invoiced before Ihal dale: where an expense has not been agreed and eslimate of the final settlement amount (including VAT) is made. Deferred income represenling grants. donations and sponsorship or other support received in advance of the financial period for which a donor has slated the funds should be expended Is recognised at the settlement value received. 1.15 Flnanclal Instruments The charity only has financial ass8ts and financial liabilities of a kind that qualify as basic financial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlernent value with the except of bank loans which are subsequently measured at amortlsed cost uslng the effective interest method. 1.16 Penslons Employees are -auto enrolled" into a defined contribution pension scherne from vA)ich they may opt out. The charity's only liability is the monthly contribution calculaled as a proportion of the employee's qualifying eamings during Ihe period of employment al the charity. The cost of such contributions is recognised as a staff cost and charged direclty or allocated lo the cost of raising funds or expenditure on charitable activikn'es in line with the policies described in notes 1.6 and 1.7 above. 1.17 Operating leases Rentals paid under operating leases are charged to the Ststement of Financial Activities (incorporating income and expenditure 8c(xwnt) over the lease ten in accordance with the schedule of payments set out in the lease. 17-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 2. Detalled comparatlves for the stalement of flnanclal actlvltles Restrlcted Unrestrlcted Funds Funds 2023 2023 Total Funds 2023 INCOME FROM: Donations and legacies 751.861 1.509.877 2,261,738 Other trading activities 150 150 Investment income 41.315 41,315 Total Income 751,861 1,551,342 2,303,203 EXPENDITURE ON: Raising Funds 45,733 118,959 164,692 Charitable adivities.. Conservation granls SUppt of Winners 370,254 240,178 788,762 88,700 1,159,016 328,878 Total Expendllure 656,165 996,421 1,652,586 NET INCOME I (EXPENDITURE) FOR THE YEAR & NET MOVEMENT IN FUNDS 95,696 554,921 650,617 RECONCILIATION OF FUNDS: Total funds brought forward 234,100 2.164,616 2,398,716 TOTAL FUNDS CARRIED FORWARD 329.796 2.719,537 3,049.333 18-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 3. Income from donatlons and legacles Rostrlcted Unrn5tr1cted Funds Funds 2024 2024 Totsl Funds 2024 Total Funds 2023 Donations and Gift Aid from Charities. Trusts and indivKluals 575,769 1,935.673 2.511,442 2.261,738 2023 751,861 1,509,877 2,261. 738 4. Incom• from oth•r trndlng a1vItIeS Restrlcted Unreslrlcted Funds Funds 2024 2024 Total Funds 2024 Toial Funds 2023 Proceeds from events 14,085 14,085 150 14.085 14,085 150 2023 150 150 5. Inv•stm•nt In¢om• R•strlcted Unrestrlcted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Intest e1vable on deposits 109,713 109,713 41,315 2023 41,315 41.315 19-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 EXPENDITURE ON RAISING FUNDS Ro8trlcted Unr•8trlcted Funds Funds 2024 2024 Total Funds 2024 Tol81 Funds 2023 Staff costs Fundraising event cosls Donor communications Donof relationship building Consultancy & capacity building Support & govemance costs (note 8) 9.700 116.321 126,021 99.697 3.462 1.230 1.512 2.247 56.544 4,056 4,010 2,604 43,382 4,056 4,010 2,604 60.709 17.327 27.027 170.373 197.400 164,692 2023 45. 733 118.959 164,692 EXPENDITURE ON CHARITABLE ACTivmES Restrlcted Unrestr5cted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Conservatlon grants Staff costs Grants awarded number." 33." (2023." 20) Support & govemance costs (note 8) 30,338 242,880 12,217 43,013 1,599,620 20,571 73.351 1.842,500 32,788 49.696 1.065.280 44.040 Grants 8W8nled are listed in Note 21 285,435 1,663,204 1.948,639 1, 159,016 2023 370,254 788, 762 1,159,016 Support of Wlnnern Staff costs Awards Ceremony People for Planet Summft Winner training Winner bursaries Other Winners. Network development (x>sts Support & govemance cosls (note 8) 59,989 100,000 1.188 27,366 20,000 7,202 21.502 63,426 37,647 153,866 123,415 137,647 155,054 27,366 25,097 9,135 57,707 118.675 112.822 6.228 32.509 5,097 1,933 36,205 7.915 50. 729 237,247 298,174 535,421 328.878 2023 240. 178 88. 700 328.878 Total Expenditure on Charitable Activities 522,682 1,961,378 2,484,060 1.487,894 2023 610,432 877,462 1,487,894 -20-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 SUPPORT & GOVERNANCE COSTS Total 2024 Total 2023 Staff costs 54,017 55.314 Support costs Premises costs Office relocation expenses Staff related expenses Offic8 Costs Bank charg8S Gov•rnanc• cost• 52,526 48.918 23. 795 3.359 9.662 4.243 13,089 13,998 5,189 Audil fe8 Audilor's fees for non-audrt services Strateqic planning 8V8nt Legal fees 2,500 5.565 1.181 3.139 2.500 2,889 633 Total Support & Govemance costs 151.204 151.313 Allocatlon of Support & Governance costs All costs (Including shared slaff costs assIgrd on an assessrnent ol employ68 time) which can b6 identified as having been incurred for a specific a1vitY are reFK)rted as a direct cosi of Ihat activity. Remaining support and govemance costs aro albcaied between the charity's activilios on ihe basls of the we¥hted average staff time spent on each activity. as follows Restrlcted Unrestrlcted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Raising Funds Conseprfation Grants Support of Winners 17,327 12,217 21,502 43,382 20,571 36,205 60,709 32,788 57,707 56,544 44,040 50,729 51,046 100,158 151,204 151,313 2023 85. 965 65,348 151,313 NET INCOME I (EXPENDITURE) FOR THE YEAR This is stated after charging: 2024 2023 Auditors, remuneration Operating Lease rentals - property Depreciation 2,500 31,419 2,093 2.500 26. 730 2.094 10. TAXATION The chacity is exempt from tax on fts charltable adivitses. 21
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. STAFF COSTS AND NUMBERS AND TRUSTEE REMUNERATION Staff costs were as follows: 2024 2023 Wages and salaries Soclal security cosls Penslon conlrlbutions to defined contribution penslon scheme 338,153 30,856 7,795 290,481 25,658 7.243 376,804 323,382 The following number of employees received employee benefts {exc1L1n9 employer pensK contributions) during the year between: 2024 2023 £60,000 - £69.999 £70,000 - £79,999 The total employee benefits including pension contributions of the key managern8nl P6rsonnel, comprising the Dir8Ctor and Deputy Dir8cior wer8 £96,371 (2023: £82,102). Staff Numbers The average monthty number of staff and full time equivalent staff (FTE) durlng the year was as follows: 2024 2023 Total No. FTE fot81 FTE No. No. No. Raising Funds Charitable Activities.. Conseprfation Grants Support of Winners Support & Governance Trustee romuneratlon During the year no Trustee received any remuneration or benefits in kind12023 - £nil), nor did any Trustee receive payment fof professional Of Other services supplied to the charity (2023 - £nil). During Ihe year Trustees were reimburse(l expenses which totalled £nil (2023 - £nil). 12. OPERATING LEASE COMMITMENTS Total future minimum lease payments under non<ancellable operating leases are as follows: 2024 2023 Commltments at 30 June: Property: Under 1 year 1-5 years 37,784 8.075 31,415 45,859 -22-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. TANGIBLE FIXED ASSETS Leasehold Property Total COST Balance broughl forward Additions 10.468 10,468 8alance carried forward 10,468 10,468 DEPRECIATION Balance brought foThYard Charge for the year 2,094 2.093 2,094 2,093 8alanc8 carried foNiard 4.187 4,187 Net Book Value at 30 June 2024 6,281 6,281 Net Book Value at 30 June 2023 8.374 8.374 14. DEBTORS 2024 2023 Accrued income Other deblors Prepayments 74,393 8,459 5,058 117,622 11,915 18,035 87.910 147,572 15. CURRENT ASSET INVESTMENTS Current asset investments cornprise two 12 month deposrts of £250.000 each. maturing in Febwary 2025 and a further Iwo 12 monlh deposits of £250,000 e8ch. maturing in May 2025. 16. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise short tenm bank deposits with a maturity date of six months or less at the balance sheet date, bank current accounts and cash in hand. Al 1 July 2023 Cash flows At 30 June 2024 Bank current accounts and cash in hand Deposit accounts available on demand 38,991 3.414,866 (1.329) (677,714) 37,662 2,737,152 Total cash and cash equivalents 3.453.857 (679.043) 2,774.814 17. CREDITORS: Amounts falllng du• vthhln on• year 2024 2023 Grants payable Trade creditors Taxation, social security and pension contributions Accruals 835,000 7,262 11,493 12,137 532, 8th) 10,235 9,819 7,616 865,892 560.470 -23-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 18. FUNDS & SUMMARY OF FUND MOVEMENTS Year ended 30 June 2023 At1Jul 2022 Income Expend- Iture Transfer At 30 Jun 2023 UNRESTRICTED FUNDS DESIGNATED FUNDS Grants and Bursaries Award Ceremonies & Other Events 1.546,749 1,090,766 (740,200) 105,000 26,312 19,050 1,651,749 1.117,078 (759,250) 512,867 237 171 80,338 1,977,653 172,928 285,190 253,266 2.262,843 Total Deslgnated Funds GENERAL FUND 253 266 456 694 Total Unre•tricted Funds 2.164,616 1,551.342 (996,421) 2.719,537 RESTRICTED FUNDS The Whilley Animal Protectlon Trust Arcus Foundation The Bettep*vay Foundation The Buxton Leqal Support Fund The Evolution Education Trust The Hempel Foundation Rabelais Trust The Rufford Foundats'on Smaller donor pass-through grants Total R•strlct•d Funds 82,475 23,200 110,000 (137,475) (23.200 325,000 (277,509) 90,000 (13,500) (40,000 (49,0011 (80,500 (30,000 55,000 47,491 76,500 20,000 62,380 68,425 60,000 111,381 80,500 30,000 68.425 234,100 751,861 (656,165) 329,796 TOTAL FUNDS- year to 30 Jun• 2023 2,398,716 2,303,203 (1,652,586) 3.049,333 Year ended 30 June 2024 At1Jul 2023 Income Expend- Ilur• Transfer At 30 Jun 2024 UNRESTRICTED FUNDS DESIGNATED FUNDS Grants and Bursaries Award Ceremonies & Other Events 1.977,653 1,485,219 11.604,717) 285,190 40.980 191,513 2,262,843 1,526,199 (1,796,230 533 272 335 521 45,872 1.904,027 44,813 179,470 90,685 2.083,497 563 760 Total Deslgnated Funds GENERAL FUND Total Unrestricted Funds 2,719,537 2,059,471 (2,131,751) 2,647,257 RESTRICTED FUNDS The Whilley Animal Protection Trust The Betterway Foundation The Buxton Legal Support Fund The Evolution Education Trust The Hempel Foundalion Rabelais Trust The Rufford Foundation Smaller donor pass-through grants Total R•8trlct•d Funds 55,000 47,491 76.500 20.000 62,380 68,425 85,000 (105,000) 250,000 (247,491) (19,000 (20,000 (97,2551 (12,075) (31,200 17,688 35,000 50,000 57,500 111.381 80,500 31,200 76,506 136,850 329,796 575,769 (549,709) 355,856 TOTAL FUNDS- year to 30 June 2024 3,049,333 2,635,240 (2,681,460) 3,003,113 -24-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 18. FUNDS & SUMMARY OF FUND MOVEMENTS cont'd The designaled funds relate to those grants and donatDns received to provide Vlhitley Awards and Continualion Funding: this also indudes funds given for general purposes which are designated for awards when the General Fund exceeds the level to sats'sfy the Trustees. reserves policy. These funds are transferred back so that the General Fund always equals the amount required by the reserves policy. Further amounts have been deslgnaled lo cover the cost of the following year's Award Ceremony. planned donor engagement evenls and Ihe Small Bursaries Fund available lo winners to exploit knowledge and capacity building opportunits"es. The restricled funds arise Irom: The Whitley Animal Protection Trust (WAPT) gave a donation of £85.000 during the year, which was restricted to award grants to a specific area ol conservation and to fund non grant cosls. The £35.000 balance will be used lo award Continuation Funding grants. Of the £250,000 donated by the Betterway Foundalion in Ihe year. £100.000 supported the 2024 Awards, Ceremony. £85.000 was used for the 2023 Continuation programme. and £15,000 funded non grant costs, with the £S0.000 balance being carried for*vard lo support winner network activities next year: the £47.491 opening balance similarfy lunded winner networt( activities in the current financial year. A total of £19,OIXI in grants was given lo five winners from the Buxton Legal Support Fund to engage legal expertise in investyating SpeCff local issues and the balance remains available lor similar funding in fulure years. Evolution Education Trust's unused funds at 1 July 2023 were used to grant small bursaries to winners. The Hempel Foundation paid £111.381 {the tranche of a DKK2.815m 3 year donation) which financed a Whitley Award and part of the winner network training actsvity; the £76.$06 balance will be used for Continuation Funding and the 2024 winner training programme. The Rabelais Trust gave a grant of £80.500 of which £12,075 was used for support costs. The balance and that unused at the beginning of the year (total £136,850) will be spent on Continuation funding and other charitable activities in a manner to be agreed with the donor. Four smaller donors gave a total of £17,688 to support specrfic conservation projects of their choice in Ukraine, Kenya and Argentina. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restrlcted Funds 19. Unrestricted Funds Designated General Total Funds 2023 Nel A88•ts by Fund Tangible fixed assets Debtors Cash at bank and In hand Credrtors due within one year 8,374 ,374 17,000 130,572 147,572 2.665,743 345,418 3,453,857 (419,900) (27,670) 1560,470 442,696 1112,9001 329,796 2,262,843 456,694 3,049,333 2024 Nel Assets by Fund Restrlcted Funds Unrestrfcted Funds Deslgnated General Total Funds Tangible fixed a&sets Debtors Current asset tnvestments Cash at bank and in hand Credilors due within one year 6.281 86,395 500,000 500,000 2,319,057 1,976 (735,$60) (30,892) 6,281 87,910 1,000,000 2,774,814 (865,892) 1,515 453,781 (99,440) 355.856 2,083.497 563.760 3.003,113 -25-
THE WHITLEY FUND FOR NATURE (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. RELATED PARTY TRANSACTIONS During the year the chartty received: a donation of £85.000 (2023.. £110,OQK)) from the Whitley Animal Protection Trust where E.J. Whitley 08E is a Trustee: funds of £10,000 (2023: £10,000) from the LJC Fund where Lady Faulks is a Truslee; and. a donation of £20.000 (2023: £5,000) from the Polnts Famlly Charfjty where FJ Sullivan is a Trustee 21. GRANTS MADE TO ORGANISATIONS REPRESENTED BY (WINNERS): 2024 2024 2023 Whltley Awards Purnima Devi Bam)an Femanda Abra Raju Acharya Kuenzanq t)oril Leroy Ignacio Aristide Kamla Naomi Longa India Brazil Nepal Bhutan Guyana Cameroon Papua New Guinea 100,0(X) 50.000 50.000 400,000 340.0(N) Conllnuatlon Fundlng Manfred Epanda Aimé Randall Arauz ' Aparajita Datta Amaud Desbiez Alberto Gomez-mejia Susana Gonzaiez ' Inza Koné lan Little Angela Maldonado ' Hotlin Ompusunggu Nikolai Petkov Kini Roesler Iroro Tanshi Luis Torres Pedro Vaz Pinto Jean Wiener Cameroon Costa R India 8razil C<lombia Uruguay Ivory Coast S(xrth Afnca Colombia Indonesia Bulgaria Argentina Nigeria Cuba Angola 100.OLKJ 105.000 100.000 100.000 52.000 100.OLKI 105.000 52.000 100.000 100.OCK) 100.000 100.000 100,0(X) 100,000 1.414,000 700,000 Donor designated and oth•r small grants Leonard Akwany ' Shivanl Bhalla Pablo Borboroglu Rachel Graham Bohdan Prots Jose Sarasola Kenya Kenya Argentina Belize Ukraine Argentina 2,500 1,000 7,000 10,000 3,000 28,500 25,280 includes legal support grant TOTAL GRANTS MADE 1,842,500 1,065,280 Unpaid 8rnouniS of multi-year grants are reported in Note 17. -26-