REGISTERED COMPANY NUMBER: 03318141 (England and Wales)
REGISTERED CHARITY NUMBER: 1083233
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
NATURAL ENTERPRISE LTD
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
NATURAL ENTERPRISE LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 to 8 |
Notes to the Financial Statements |
9 to 18 |
Detailed Statement of Financial Activities |
19 to 21 |
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2021.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects and aims
The objects of the Trust are to:
-
undertake economic development and environmental enhancement work through the delivery of programmes, projects and contracts;
-
promote and support sustainable development, strategic planning and delivery in the fields of economic and/or environmental development and social inclusion;
-
promote and support education, training and retraining to improve the skills of the workforce and to promote the development of industry, commerce and enterprise of all forms for the benefit of the community;
-
promote the development of existing businesses and the establishment of new businesses;
-
provide a means of securing corporate and individual involvement to develop business links with and between enterprises, authorities and agencies to develop and foster working relationships that will enhance the prosperity of the area and to stimulate public awareness;
-
collect, analyse and disseminate economic, environmental and other information on all subjects of interest to the Members, partners and others;
-
promote social inclusion in the sustainable economic and environmental development;
-
offer commercial services for the conservation, protection, reinstatement and improvement of the physical and natural environment to include the research and development of environmental thinking, policy and strategy and advise businesses on environmental sustainability and social responsibility;
-
seek, assess and secure investment in the areas of economic and environmental development;
-
support this work by entering into any arrangements with any government, authority, department, person or institution, whether European, national, local or otherwise, that may seem conducive to the Company's objects or any of them; and to obtain from any of them any grant assistance, rights, privileges, licences, contracts and concessions; and to carry out exercise and comply with any such arrangements, grant assistance, rights, privileges, licences, contracts and concessions.
Inshapingourobjectivesfortheyearandplanningouractivities,thetrusteeshaveconsideredthe Charity
Commission's guidance on public benefit.
Public benefit
All the activities of the Trust focus on delivering community benefit and are in accordance with the objects of the Trust.
TheTrusteeshavecompliedwiththeirdutytohavedueregardtotheCharityCommission'spublicbenefit guidance
when exercising any powers or duties to which the guidance is relevant.
Page 1
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
ACHIEVEMENT AND PERFORMANCE Review of the business
Like all businesses we were affected by the Covid-19 outbreak.The Gift to Nature shop was closed for long periods and
inlinewithnationalguidelinesalltheofficestaffworkedfromhome.TheGifttoNatureRangerteamwere initially
furloughed but soon returned to work when the way forward became clearer.
To compoundmatterswe suffereda fire in the officeover the AugustBankHolidayweekend,which meantwe had to
run the business remotely or from temporary accommodation. Repairs took 7 months to complete.
Notwithstandingthepressures,theNaturalEnterpriseteamrespondedwellandhaveonceagaindelivereda good
range of achievements in support of our partners, stakeholders and the community we serve.
TheobjectiveforGifttoNatureremainstocontinuetoprovideresidentsandvisitorsopenandfreeaccessto the
Island'sNaturalEnvironmentandthishasneverbeensoimportant.Followingtheinitiallockdownperiodthelevel of
use of the Gift to Nature sites has never been greater. Unfortunatelyassociatedwith this increased use we experienced
a significant increase and range of anti social behaviour.
The Gift to Natureshopbenefitedfrom Covid-19financialsupportmeasuresanda continuedincreasein weekly sales
duringthe tradingperiodswhen it was open.This positivetrendhas continuedintothe currentfinancialyearand the
historical trading deficit has been significantly reduced.
As an immediateresponse to the Covid-19outbreak,working with our partnersthe Solent LEP and New Forest District
Council,inApril2020welaunchedtheIsleofWightRuralResilienceFundandthentheNewForestRural Resilience
Fund to provide grant assistance to businesses as they changed their working practices.
Across the two funds we supported42 businessesto safeguardand create 128 jobs. This was achieved from a standing
startandissomethingthewholeNaturalEnterpriseteamshouldberightlyproudtoincludeDirector Robert
Lovegrove.
As a measure of the success of the Isle of Wight Rural Fund we were invited by Solent LEP to create a sister Fund in the
New Forest. The two funds successfullyprovided grants totalling£411,000to 17 beneficiaries,creatingor safeguarding
over 31 fulltime jobs.
TosupportruralbusinessesontheIsleofWight,NaturalEnterprisefunded,created,devisedanddeliveredthe Let's
BuyLocalcampaign.ItssuccessreceivednationalrecognitionwhenwewereinvitedbytheCabinetOffice to
participateinthenationalEnjoySummerSafely-ShopLocalWeekcampaign.Anumberofislandbusiness featured
strongly in the campaign. The second stage of the Let's Buy Local campaign was funded by the IW Council.
The Trusthascontinuedto supportthe RoyalIsle of WightAgriculturalSociety.Unfortunately,the 2020County Show
was cancelledbutthe Societywas ableto supportthe ruralbusinesssectorby holdinga numberof Open-Air Markets
at the County Showground.
Anothersuccessfulyear,if slightlycurtailed,wasachievedbythecharity'sNonNativePlantsproject,withitswork to
protecttheisland'snaturalenvironmentbycontrollingthespreadofinvasiveplants.Thisworkisco-ordinated and
managedbytheNaturalEnterpriseteamwithtremendoushelpfromastrongbandofvolunteers.An ever-increasing
number of landownersboth from the public and private sectors are benefitingfrom this work. This is set to continue in
2021/22.
Ourworkco-ordinatingandleadingtheIslandRiversPartnershiponbehalfoftheEnvironmentalAgency has
continued,with over 20 local and nationalgroups and organisationsengaged.This partnershiphas developedwell and
providesacoherentanddynamicapproachtothedevelopmentoftheIsland'swatercourses.Complementary site
specific projects are being delivered.
Page 2
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
Otherdistinctcommunitybenefitprojectswereundertakenin2020/21,allconsistentwiththeTrust'sobjects to
supporttheIsland'snaturalenvironmentandruraleconomy.Acoupleofkeyprojectsareexpectedtoreach critical
stages in their development in the current year, reflecting the work undertaken last year.
Governance remains strong with the Trustees and Directors meeting on a regular basis, both formally and informally.
FINANCIAL REVIEW
Financial position
Totalincomefortheyearamountedto£296,223(2020-£402,483).Costsofgeneratingfundsamountedto £28,925
(2020 - £39,161). Costs of charitable activities amounted to £256,123 (2020 - £301,433).
Unrestrictedand restrictedfundscarriedforwardat the end of the year amountedto £194,726(2020- £182,357) and
£57,577 (2020 - £58,711) respectively.
Investment policy
The trustees have the power to invest in such assets as they see fit.
Reserves policy
Thereservespolicyremainstheretentionofalevelofunrestrictedfunds,notcommittedorinvestedinfixed assets,
equivalenttosixmonthsoperationalcosts.Thisreserveprovidesabufferagainstsuddenorunexpected financial
change and would allow the charity time to adjust accordingly.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Natural Enterprise is constitutedunder a Memorandum and Articles of Associationincorporated13 February 1997, and
amended5October2010,11June2019and22July2020,andisaregisteredcompany(33181410).Itisalso a
registered charity (1083233).
Induction and training of new trustees
Allmembersofthetrusteeboardareinductedandtrainedinatimelyfashionandunderstandtheir responsibilities.
NewTrusteesundergoorientationrelatedtotheirobligationsinrespectofcharityandcompanylaw, the
memorandum and articles of association, and the decision making process.
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Theriskmanagementstrategyis to
considerand review annuallythe main risks the charitymay face, the systemsin place to mitigatethose risks,and the
implementationof proceduresto minimise the impact of difficultevents. It is the view of the trustees that prudent risk
managementshouldaimtoincreasetheleveloffinancialprotection,andorganisationalflexibilityandisachieved by
the current reserves policy.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03318141 (England and Wales)
Registered Charity number
1083233
Page 3
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
Registered office
Shide Meadows Centre
Shide Road
Newport
Isle of Wight
PO30 1HR
Trustees
The trustees serving during the year were as follows:
Mrs L A Clarke - Vice Chairman
D E H Jamesresigned 22/01/2020
B G P Friend - Chairman
Mrs J A Griffin
Mr G R Biss
Mr R Lovegrove
J M D Brownscombe
No trustee held any interest in the company during the two years ended 31 March 2020.
The MemorandumandArticlesof Associationgives prescribedminimumandmaximumnumbersof Trustees allowed,
being no less than two and no more than sixteen.
Independent Examiner
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
Approved by order of the board of trustees on 5 October 2021 and signed on its behalf by:
B G P Friend - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NATURAL ENTERPRISE LTD
Independent examiner's report to the trustees of Natural Enterprise Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare 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 accountsof the Company are not required to be audited under Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carryingout my examinationI have followed
the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity'sgross income exceeded£250,000your examinermust be a member of a listedbody.I can confirm
that I am qualifiedto undertakethe examinationbecauseI am a registeredmember of FCCA which is one of the listed
bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J Palmer
FCCA
Bright Brown Limited
Chartered Accountants
Isle of Wight
Date: .............................................
Page 5
NATURAL ENTERPRISE LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
16,443
Charitable activities
5
Gift to Nature
-
Charitable activities
77,872
Island Rivers
-
Royal IW Agricultural Society
24,332
Other trading activities
3
-
Investment income
4
268
Other income
6
3,340
Total
122,255
EXPENDITURE ON
Raising funds
7
-
Charitable activities
8
Gift to Nature
-
Charitable activities
88,164
Island Rivers
-
Royal IW Agricultural Society
21,722
Total
109,886
NET INCOME/(EXPENDITURE)
12,369
RECONCILIATION OF FUNDS
Total funds brought forward
182,357
TOTAL FUNDS CARRIED FORWARD
194,726 |
Restricted
funds
£
21,595
122,178
-
15,000
-
15,195
-
-
173,968
28,925
131,459
-
14,778
-
175,162
(1,194)
58,771
57,577 |
2021
Total
funds
£
38,038
122,178
77,872
15,000
24,332
15,195
268
3,340
296,223
28,925
131,459
88,164
14,778
21,722
285,048
11,175
241,128
252,303 |
2020
Total
funds
£
104,166
128,000
106,357
-
34,518
27,920
970
552 |
|
|
|
402,483
39,161
130,471
154,859
-
16,103 |
|
|
|
340,594 |
|
|
|
61,889
179,239 |
|
|
|
241,128 |
The notes form part of these financial statements
Page 6
NATURAL ENTERPRISE LTD
BALANCE SHEET 31 MARCH 2021
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
9,743
CURRENT ASSETS
Stocks
15
-
Debtors
16
6,972
Cash at bank and in hand
482,295
489,267
CREDITORS
Amounts falling due within one year
17
(304,284)
NET CURRENT ASSETS
184,983
TOTAL ASSETS LESS CURRENT LIABILITIES
194,726
NET ASSETS
194,726
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
3,590
2,399
52,784
58,773
(1,196)
57,577
57,577
57,577 |
2021
Total
funds
£
9,743
3,590
9,371
535,079
548,040
(305,480)
242,560
252,303
252,303
194,726
57,577
252,303 |
2020
Total
funds
£
8,296
3,632
109,211
703,431
816,274
(583,442)
232,832
241,128
241,128
182,357
58,771
241,128 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year
ended 31 March 2021.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
NATURAL ENTERPRISE LTD
BALANCE SHEET - continued
31 MARCH 2021
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
The financialstatements were approved by the Board of Trustees and authorisedfor issue on 5 October 2021 and were
signed on its behalf by:
B G P Friend - Trustee
The notes form part of these financial statements
Page 8
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
prepared in accordancewith the Charities SORP (FRS 102) 'Accountingand Reportingby Charities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Depreciationis providedat the followingannualratesin order to write off each assetover its estimated useful
life.
Long leasehold- Straight line over 125 years
Fixtures and fittings- 20% on reducing balance and Straight line over 3 years
Motor vehicles- 25% on reducing balance
The cost of fixed assets is their purchase costs, together with any incidental expenses of acquisition.
The trusteesconsiderthe writingdownperiodsare adequateto reflectthe usefuleconomiclives of the assets
and therefore that no impairment review is necessary.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticularrestricted purposes.
Expenditurechargedagainsttherestrictedfundrepresentsrevenuecostsincurredduringtheyearfor the
purpose specified.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis
over the period of the lease.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
2. DONATIONS AND LEGACIES
Unrestricted
funds
£
Donations
1
Grants
16,442
Donation of assets from Natural Enterprise
2019 Ltd
-
16,443 |
Restricted
funds
£
4,022
17,573
-
21,595 |
2021
Total
funds
£
4,023
34,015
-
38,038 |
2020
Total
funds
£
14,883
-
89,283 |
|
|
|
104,166 |
Grants received, included in the above, are as follows:
Covid support
OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Fundraising events
-
-
Shop income
-
15,195
-
15,195 |
2021
£
34,015
2021
Total
funds
£
-
15,195
15,195 |
2020
£
- |
|
|
2020
Total
funds
£
7,009
20,911 |
|
|
27,920 |
3. OTHER TRADING ACTIVITIES
continued...
Page 10
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
4. INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
268
-
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Project income
Gift to Nature
Management IWC
Gift to Nature
Town and parish councils
Gift to Nature
Grants
Gift to Nature
Car park income
Gift to Nature
Project income
Charitable activities
Town and parish councils
Charitable activities
Grants
Charitable activities
Grants
Island Rivers
Project income
Royal IW Agricultural Society
Grants received, included in the above, are as follows:
Gift to Nature
Other grants
Island Rivers |
2021
Total
funds
£
268
2021
£
-
50,000
31,417
28,774
11,987
45,776
-
32,096
15,000
24,332
239,382
2021
£
28,774
32,096
15,000
75,870 |
2020
Total
funds
£
970
2020
£
540
50,000
33,250
38,093
6,117
69,984
600
35,773
-
34,518 |
2020
Total
funds
£
970
2020
£
540
50,000
33,250
38,093
6,117
69,984
600
35,773
-
34,518 |
|
|
268,875 |
|
|
|
|
2020
£
38,093
35,773
- |
|
|
|
73,866 |
6. OTHER INCOME
OTHER INCOME |
|
|
|
|
|
|
|
2021 |
2020 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Gain on sale of tangible fixed assets |
- |
- |
- |
252 |
Other income |
- |
- |
- |
300 |
Insurance claims |
3,340 |
- |
3,340 |
- |
|
3,340 |
- |
3,340 |
552 |
continued...
Page 11
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
7. RAISING FUNDS
Raising donations and legacies
Unrestricted
Restricted
funds
funds
£
£
Fundraising expenses
-
-
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Opening stock
-
3,632
Purchases
-
8,240
Closing stock
-
(3,590)
Staff costs
-
9,435
Other operating leases
-
6,228
Rates and water
-
2,458
Insurance
-
466
Light and heat
-
322
Staff costs
-
-
Post and stationery
-
324
Travelling
-
569
Licences and subscriptions
-
196
Repairs and renewals
-
465
Sundry expenses
-
180
Bank charges
-
-
Depreciation
-
-
-
28,925
Aggregate amounts
-
28,925 |
2021
Total
funds
£
-
2021
Total
funds
£
3,632
8,240
(3,590)
9,435
6,228
2,458
466
322
-
324
569
196
465
180
-
-
28,925
28,925 |
2020
Total
funds
£
921
2020
Total
funds
£
5,403
11,407
(3,632)
13,270
6,500
2,176
139
331
73
139
16
245
268
99
575
1,231
38,240
39,161 |
|
|
|
continued...
Page 12
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
8. CHARITABLE ACTIVITIES COSTS
Gift to Nature
Charitable activities
Island Rivers
Royal IW Agricultural Society
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Local projects
Bank charges
Professional fees
Motor expenses
Travelling expenses
Staff costs
Bookkeeping
Rates and water
Repairs and renewals
Computer costs
Licences and subscriptions
Bad debts
Unclaimable input VAT
Independent examination fees
Depreciation
Loss on sale of assets
Impairment losses |
Direct
Costs (see
note 9)
£
131,459
88,164
14,778
21,722
256,123
2021
2020
£
£
138,408
123,423
4,135
3,304
1,161
2,028
1,025
838
2,206
3,949
1,324
6,373
56
45
81,651
97,659
607
493
3,503
4,154
4,117
4,559
39
503
1,193
933
1,800
1,650
216
142
2,507
1,621
1,826
2,775
355
325
91
2,022
3,115
4,020
1,530
1,835
4,567
3,020
691
-
-
35,762
256,123
301,433 |
Direct
Costs (see
note 9)
£
131,459
88,164
14,778
21,722
256,123
2021
2020
£
£
138,408
123,423
4,135
3,304
1,161
2,028
1,025
838
2,206
3,949
1,324
6,373
56
45
81,651
97,659
607
493
3,503
4,154
4,117
4,559
39
503
1,193
933
1,800
1,650
216
142
2,507
1,621
1,826
2,775
355
325
91
2,022
3,115
4,020
1,530
1,835
4,567
3,020
691
-
-
35,762
256,123
301,433 |
|
|
256,123 |
|
|
2020
£
123,423
3,304
2,028
838
3,949
6,373
45
97,659
493
4,154
4,559
503
933
1,650
142
1,621
2,775
325
2,022
4,020
1,835
3,020
-
35,762 |
|
|
301,433 |
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 13
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2021 |
2020 |
|
£ |
£ |
Depreciation - owned assets |
4,566 |
4,229 |
Other operating leases |
6,228 |
6,500 |
(Deficit)/surplus on disposal of fixed assets |
691 |
(252) |
11. TRUSTEES' REMUNERATION AND BENEFITS
Duringtheyear,thecharitypaidMrGBissagrossremunerationof£24,560,andmadeemployer pension
contributionsof £3,219on behalfof Mr G Biss, for his role as the managingdirector.This is authorisedunder a
provision as stated in the charity's governing document.
Trustees' expenses
During the year, travel and subsistence expenses were paid on behalf of one trustee totalling £289.
12. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
2021 |
2020 |
Charitable activities |
7 |
7 |
No employees received emoluments in excess of £60,000.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
91,782
Charitable activities
Gift to Nature
-
Charitable activities
106,357
Royal IW Agricultural Society
34,518
Other trading activities
-
Investment income
970
Other income
552
Total
234,179
EXPENDITURE ON
Raising funds
1,376 |
Restricted
funds
£
12,384
128,000
-
-
27,920
-
-
168,304
37,785 |
Total
funds
£
104,166
128,000
106,357
34,518
27,920
970
552 |
|
|
402,483
39,161 |
continued...
Page 14
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Gift to Nature
-
130,471
Charitable activities
154,859
-
Royal IW Agricultural Society
16,103
-
Total
172,338
168,256
NET INCOME
61,841
48
RECONCILIATION OF FUNDS
Total funds brought forward
120,515
58,724
TOTAL FUNDS CARRIED FORWARD
182,356
58,772
14.
TANGIBLE FIXED ASSETS
Fixtures
Long
and
Motor
Computer
leasehold
fittings
vehicles
equipment
£
£
£
£
COST
At 1 April 2020
1
56,040
1,512
827
Additions
-
-
-
6,704
Disposals
-
(42,721)
-
(192)
At 31 March 2021
1
13,319
1,512
7,339
DEPRECIATION
At 1 April 2020
-
48,167
1,511
406
Charge for year
-
2,111
-
2,455
Eliminated on disposal
-
(42,030)
-
(192)
At 31 March 2021
-
8,248
1,511
2,669
NET BOOK VALUE
At 31 March 2021
1
5,071
1
4,670
At 31 March 2020
1
7,873
1
421 |
Total
funds
£
130,471
154,859
16,103 |
|
340,594 |
|
61,889
179,239 |
|
241,128 |
|
Totals
£
58,380
6,704
(42,913)
22,171
50,084
4,566
(42,222)
12,428
9,743
8,296 |
All of the fixed assets are used in the direct furtherance of the charity's objectives.
continued...
Page 15
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
15.
STOCKS
Stocks
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Other creditors
Deferred income
Accrued expenses
18.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
19.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
182,357
Restricted funds
Gift to Nature
58,771
Island Rivers
-
58,771
TOTAL FUNDS
241,128 |
|
|
|
continued...
Page 16
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
19. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Gift to Nature
Island Rivers
TOTAL FUNDS |
Incoming
resources
£
122,255
158,967
15,001
173,968
296,223 |
Resources
Movement
expended
in funds
£
£
(109,886)
12,369
(160,384)
(1,417)
(14,778)
223
(175,162)
(1,194)
(285,048)
11,175 |
|
|
|
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
120,515
Restricted funds
Gift to Nature
58,724
TOTAL FUNDS
179,239
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
234,179
Restricted funds
Gift to Nature
168,304
TOTAL FUNDS
402,483 |
Net
movement
At
in funds
31.3.20
£
£
61,842
182,357
47
58,771
61,889
241,128
Resources
Movement
expended
in funds
£
£
(172,337)
61,842
(168,257)
47
(340,594)
61,889 |
|
|
continued...
Page 17
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
19. MOVEMENT IN FUNDS - continued
GifttoNatureistheflagshipconservationprojectofNaturalEnterpriseLtd,lookingafter174hectaresof the
IsleofWight'scountryside.WedeliverconservationprojectsinthepublicrealmoftheIslandeachyear and
specifically we:
-
look after countryside and green spaces on the Isle of Wight
-
help people improve the land they manage
-
run lots of interesting and fun events to inform people about the importance of the Island's natural environment
-
promote routes to access the countryside
-
look after special habitats and species
-
give advice and support to people about how to do these things for themselves
Island Rivers is a project to develop a whole island approachto the developmentand protectionof rivers across
the Isle of Wight.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 18
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
1
4,022
Grants
16,442
17,573
Donation of assets from Natural Enterprise 2019
Ltd
-
-
16,443
21,595
Other trading activities
Fundraising events
-
-
Shop income
-
15,195
-
15,195
Investment income
Deposit account interest
268
-
Charitable activities
Project income
70,108
-
Management IWC
-
50,000
Town and parish councils
-
31,417
Grants
32,096
43,774
Car park income
-
11,987
102,204
137,178
Other income
Gain on sale of tangible fixed assets
-
-
Other income
-
-
Insurance claims
3,340
-
3,340
-
Total incoming resources
122,255
173,968
EXPENDITURE
Raising donations and legacies
Fundraising expenses
-
- |
2021
Total
funds
£
4,023
34,015
-
38,038
-
15,195
15,195
268
70,108
50,000
31,417
75,870
11,987
239,382
-
-
3,340
3,340
296,223
- |
2020
Total
funds
£
14,883
-
89,283 |
|
|
104,166
7,009
20,911 |
|
|
27,920
970
105,042
50,000
33,850
73,866
6,117 |
|
|
268,875
252
300
- |
|
|
552 |
|
|
402,483
921 |
This page does not form part of the statutory financial statements
Page 19
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
Unrestricted
Restricted
funds
funds
£
£
Raising donations and legacies
Other trading activities
Opening stock
-
3,632
Purchases
-
8,240
Wages
-
8,981
Social security
-
112
Pensions
-
342
Other operating leases
-
6,228
Rates and water
-
2,458
Insurance
-
466
Light and heat
-
322
Staff costs
-
-
Post and stationery
-
324
Travelling
-
569
Licences and subscriptions
-
196
Repairs and renewals
-
465
Sundry expenses
-
180
Bank charges
-
-
Depreciation of tangible fixed assets
-
-
Closing stock
-
(3,590)
-
28,925
Charitable activities
Wages
49,982
70,335
Social security
1,481
2,522
Pensions
5,797
8,291
Insurance
4,135
-
Light and heat
848
313
Telephone
363
662
Postage and stationery
1,933
273
Advertising
1,298
26
Sundries
56
-
Local projects
24,832
56,819
Bank charges
607
-
Professional fees
3,500
3
Motor expenses
81
4,036
Travelling expenses
28
11
Staff costs
1,000
193
Bookkeeping
1,800
-
Rates and water
216
-
Repairs and renewals
486
2,021
Computer costs
1,119
707
Carried forward
99,562
146,212 |
2021
Total
funds
£
3,632
8,240
8,981
112
342
6,228
2,458
466
322
-
324
569
196
465
180
-
-
(3,590)
28,925
120,317
4,003
14,088
4,135
1,161
1,025
2,206
1,324
56
81,651
607
3,503
4,117
39
1,193
1,800
216
2,507
1,826
245,774 |
2020
Total
funds
£
5,403
11,407
12,036
466
768
6,500
2,176
139
331
73
139
16
245
268
99
575
1,231
(3,632)
38,240
106,731
6,189
10,503
3,304
2,028
838
3,949
6,373
45
97,659
493
4,154
4,559
503
933
1,650
142
1,621
2,775
254,449 |
|
|
|
This page does not form part of the statutory financial statements
Page 20
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Brought forward
99,562
146,212
Licences and subscriptions
330
25
Bad debts
91
-
Unclaimable input VAT
3,115
-
Independent examination fees
1,530
-
Depreciation of tangible fixed assets
4,567
-
Loss on sale of tangible fixed assets
691
-
Impairment losses for intangible fixed assets
-
-
109,886
146,237
Total resources expended
109,886
175,162
Net income/(expenditure)
12,369
(1,194) |
2021
Total
funds
£
245,774
355
91
3,115
1,530
4,567
691
-
256,123
285,048
11,175 |
2020
Total
funds
£
254,449
325
2,022
4,020
1,835
3,020
-
35,762 |
|
|
301,433 |
|
|
340,594 |
|
|
61,889 |
This page does not form part of the statutory financial statements
Page 21