``` 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 ```