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 2022
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 2022
|
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 20 |
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2022.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 2022
ACHIEVEMENT AND PERFORMANCE
Review of the business
ThebusinessemergedfromthefirstthreeroundsoftheCovid-19outbreakinarelativelystrongposition.Infact the
continueddelaysassociatedwiththerepairstotheofficefollowingthefireinAugust2020,hadamore profound
impact.
After the Covid -19 led period of consolidation,all aspects of the business moved forward well during the year. The Gift
to Nature shop continuedto build on its growing reputation,the Gift to Nature engagementactivitieswere boosted by
securingfundingfrom the NationalLotteryReachingCommunitiesFundandthe appointmentof a new Senior Ranger
ledtotheintroductionof a numberof new workingpractices,revitalisationmanyaspectsof thewaywe manage the
Gift to Nature sites.
TheobjectiveforGifttoNatureremainstocontinuetoprovideresidentsandvisitorsopenandfreeaccessto the
Island's Natural Environment. Usage levels remained strong and pleasingly the reach of pour work has been extended.
TheRuralFundonboththeIsleofWightandintheNewForestcontinueditssupportforruralSME'swith many
excellentprojectssupported.TheFundexhausteditsmoniesattheendofthefinancialyearandwenowawait a
decision by the Solent LEP about future funding.
To date the combined Rural Fund has:
As highlighted above its impact has been significant.
RespondingtothepressuresaffectingthelandbasedsectorinthepostBrexitperiod,workinginpartnership, we
securedfundingfortheIslandfromDefra'sFutureFarmingResilienceFund.Thisallowedthedeliveryofarange of
support measures to farmers and land managers. This was part of the Interim phase, ahead of the roll out of the Scaled
Up phase which is due to start September 2022.
TheTrusthascontinuedtosupporttheRoyalIsleofWightAgriculturalSociety.Unfortunately,forthesecond year
runningthe CountyShow was cancelledbut the Societywas able to hold the inauguralCountryFair which was a great
successandwellreceivedbybothvisitorsandlocalbusinesses.Wenowlookforwardtothe2022CountyShow with
both enthusiasm and optimism.
Anothersuccessfulyearwasachievedbythecharity'sNonNativePlantsproject,withitsworktoprotectthe Island's
naturalenvironmentbycontrollingthespreadofinvasiveplants.Thisworkisco-ordinatedandmanagedby the
NaturalEnterpriseteamwithtremendoushelpfromastrongbandofvolunteers.Anever-increasingnumber of
landowners both from the public and private sectors are benefiting from this work. This is set to continue in 2022/23.
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.
Anumberofothersmallercommunitybenefitprojectswereundertakenin2021/22,allconsistentwiththe Trust's
objectsto supportthe Island'snaturalenvironmentand rural economy.A couple of key projectsare expectedto reach
critical stages in their development in the current year, reflecting the work undertaken last year.
Our partnership working and collaborative ethos remain key principles to our work.
Governance remains strong with the Trustees and Directors meeting on a regular basis, both formally and informally.
Page 2
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
FINANCIAL REVIEW
Financial position
Totalincomefortheyearamountedto£383,260(2021-£296,223).Costsofgeneratingfundsamountedto £48,092
(2021 - £28,925). Costs of charitable activities amounted to £256,123 (2020 - £301,433).
Unrestrictedand restrictedfundscarriedforwardat the end of the year amountedto £180,707(2021- £194,726) and
£77,069 (2021 - £57,577) 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
Theriskmanagementstrategyistoconsiderandregularlyreviewthemainrisksthecharitymayface.Systemsare in
place to mitigatethese risks and to implementproceduresto minimisethe impactof difficultevents.A Risk Register is
maintainedand updatedon a regularbasis.It is the view of the Trusteesthatprudentrisk managementshouldaim to
increase the level of financial protection, and organisational flexibility and is achieved by the current reserves policy.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03318141 (England and Wales)
Registered Charity number
1083233
Registered office
Shide Meadows Centre
Shide Road
Newport
Isle of Wight
PO30 1HR
Page 3
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Trustees
The trustees serving during the year were as follows:
Mrs L A Clarke - Vice Chairman
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 2022.
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 11 October 2022 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 2022.
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 2022
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,677
Charitable activities
5
Gift to Nature
-
Charitable activities
152,365
Island Rivers
-
Royal IW Agricultural Society
25,249
Other trading activities
3
-
Investment income
4
57
Other income
6
11,227
Total
191,575
EXPENDITURE ON
Raising funds
7
6,799
Charitable activities
8
Gift to Nature
-
Charitable activities
185,589
Island Rivers
-
Royal IW Agricultural Society
13,206
Total
205,594
NET INCOME/(EXPENDITURE)
(14,019)
RECONCILIATION OF FUNDS
Total funds brought forward
194,726
TOTAL FUNDS CARRIED FORWARD
180,707 |
Restricted
funds
£
4,694
139,610
-
15,000
-
32,381
-
-
191,685
41,293
116,086
-
14,814
-
172,193
19,492
57,577
77,069 |
2022
Total
funds
£
7,371
139,610
152,365
15,000
25,249
32,381
57
11,227
383,260
48,092
116,086
185,589
14,814
13,206
377,787
5,473
252,303
257,776 |
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 |
The notes form part of these financial statements
Page 6
NATURAL ENTERPRISE LTD
BALANCE SHEET 31 MARCH 2022
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
14,751
CURRENT ASSETS
Stocks
15
-
Debtors
16
43,374
Cash at bank and in hand
450,225
493,599
CREDITORS
Amounts falling due within one year
17
(327,643)
NET CURRENT ASSETS
165,956
TOTAL ASSETS LESS CURRENT LIABILITIES
180,707
NET ASSETS
180,707
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
5,606
840
87,671
94,117
(17,048)
77,069
77,069
77,069 |
2022
Total
funds
£
14,751
5,606
44,214
537,896
587,716
(344,691)
243,025
257,776
257,776
180,707
77,069
257,776 |
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 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year
ended 31 March 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2022 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 2022
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon11October2022 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 2022
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 2022
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
DONATIONS AND LEGACIES |
|
|
Unrestricted
Restricted
funds
funds
£
£
Donations
10
4,694
Grants
2,667
-
2,677
4,694 |
2022
Total
funds
£
4,704
2,667
7,371 |
2021
Total
funds
£
4,023
34,015 |
|
|
38,038 |
Grants received, included in the above, are as follows:
|
2022 |
2021 |
|
£ |
£ |
Covid support |
2,667 |
34,015 |
3. OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Shop income
-
32,381
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
57
- |
2022
Total
funds
£
32,381
2022
Total
funds
£
57 |
2021
Total
funds
£
15,195 |
|
|
2021
Total
funds
£
268 |
4. INVESTMENT INCOME
continued...
Page 10
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
5. INCOME FROM CHARITABLE ACTIVITIES
Activity
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
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
Future Farming Resilience Fund
OTHER INCOME
Unrestricted
Restricted
funds
funds
£
£
Insurance claims
11,227
- |
2022
£
50,000
30,583
43,735
15,292
36,428
115,937
15,000
25,249
332,224
2022
£
43,735
63,116
15,000
52,821
174,672
2022
Total
funds
£
11,227 |
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 |
|
|
2021
Total
funds
£
3,340 |
6. OTHER INCOME
continued...
Page 11
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
7. RAISING FUNDS
Raising donations and legacies
Unrestricted
Restricted
funds
funds
£
£
Fundraising expenses
6,799
5,571
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Opening stock
-
3,590
Purchases
-
16,750
Closing stock
-
(5,606)
Staff costs
-
7,587
Other operating leases
-
5,700
Rates and water
-
4,772
Insurance
-
461
Light and heat
-
595
Post and stationery
-
75
Licences and subscriptions
-
255
Repairs and renewals
-
653
Sundry expenses
-
75
Bank charges
-
815
-
35,722
Aggregate amounts
6,799
41,293 |
2022
Total
funds
£
12,370
2022
Total
funds
£
3,590
16,750
(5,606)
7,587
5,700
4,772
461
595
75
255
653
75
815
35,722
48,092 |
2021
Total
funds
£
-
2021
Total
funds
£
3,632
8,240
(3,590)
9,435
6,228
2,458
466
322
324
196
465
180
569
28,925
28,925 |
|
|
|
continued...
Page 12
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
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 |
Direct
Costs (see
note 9)
£
116,086
185,589
14,814
13,206
329,695
2022
2021
£
£
144,637
138,408
4,909
4,135
3,125
1,161
990
1,025
2,393
2,206
11,177
1,324
1,284
56
118,586
81,651
655
607
329
3,503
5,126
4,117
393
39
2,867
1,193
1,800
1,800
136
216
5,259
2,507
2,860
1,826
133
355
-
91
15,161
3,115
1,200
1,530
6,674
4,567
1
691
329,695
256,123 |
Direct
Costs (see
note 9)
£
116,086
185,589
14,814
13,206
329,695
2022
2021
£
£
144,637
138,408
4,909
4,135
3,125
1,161
990
1,025
2,393
2,206
11,177
1,324
1,284
56
118,586
81,651
655
607
329
3,503
5,126
4,117
393
39
2,867
1,193
1,800
1,800
136
216
5,259
2,507
2,860
1,826
133
355
-
91
15,161
3,115
1,200
1,530
6,674
4,567
1
691
329,695
256,123 |
|
|
329,695 |
|
|
2021
£
138,408
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
355
91
3,115
1,530
4,567
691 |
|
|
256,123 |
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 13
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2022 |
2021 |
|
£ |
£ |
Depreciation - owned assets |
6,674 |
4,566 |
Other operating leases |
5,700 |
6,228 |
Deficit on disposal of fixed assets |
1 |
691 |
11. TRUSTEES' REMUNERATION AND BENEFITS
Duringtheyear,thecharitypaidMrGBissagrossremunerationof£24,310,andmadeemployer pension
contributionsof £3,218on 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
Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.
12. STAFF COSTS
The average monthly number of employees during the year was as follows:
13.
Charitable activities
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
16,443
Charitable activities
Gift to Nature
-
Charitable activities
77,872
Island Rivers
-
Royal IW Agricultural Society
24,332
Other trading activities
-
Investment income
268
Other income
3,340
Total
122,255 |
2022
7
Restricted
funds
£
21,595
122,178
-
15,000
-
15,195
-
-
173,968 |
2021
7
Total
funds
£
38,038
122,178
77,872
15,000
24,332
15,195
268
3,340
296,223 |
|
|
|
EXPENDITURE ON
continued...
Page 14
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Raising funds
-
28,925
Charitable activities
Gift to Nature
-
131,459
Charitable activities
88,164
-
Island Rivers
-
14,778
Royal IW Agricultural Society
21,722
-
Total
109,886
175,162
NET INCOME/(EXPENDITURE)
12,369
(1,194)
RECONCILIATION OF FUNDS
Total funds brought forward
182,357
58,771
TOTAL FUNDS CARRIED FORWARD
194,726
57,577
14.
TANGIBLE FIXED ASSETS
Fixtures
Long
and
Motor
Computer
leasehold
fittings
vehicles
equipment
£
£
£
£
COST
At 1 April 2021
1
13,319
1,512
7,339
Additions
-
9,549
840
1,294
Disposals
-
-
(1,512)
-
At 31 March 2022
1
22,868
840
8,633
DEPRECIATION
At 1 April 2021
-
8,248
1,511
2,669
Charge for year
-
3,598
210
2,866
Eliminated on disposal
-
-
(1,511)
-
At 31 March 2022
-
11,846
210
5,535
NET BOOK VALUE
At 31 March 2022
1
11,022
630
3,098
At 31 March 2021
1
5,071
1
4,670 |
Total
funds
£
28,925
131,459
88,164
14,778
21,722 |
|
285,048 |
|
11,175
241,128 |
|
252,303 |
|
Totals
£
22,171
11,683
(1,512)
32,342
12,428
6,674
(1,511)
17,591
14,751
9,743 |
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 2022
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 1.4.21
£
Unrestricted funds
General fund
194,726
Restricted funds
Gift to Nature
57,354
Island Rivers
223
57,577
TOTAL FUNDS
252,303 |
2022
£
5,606
2022
£
34,904
102
9,208
44,214
2022
£
13,704
17,837
87,320
197,408
28,422
344,691
2022
£
5,958
Net
movement
in funds
£
(14,019)
19,307
185
19,492
5,473 |
2021
£
3,590
2021
£
600
959
7,812
9,371
2021
£
5,624
18,681
45,559
206,382
29,234 |
|
2021
£
3,590 |
|
|
|
|
2021
£
600
959
7,812 |
|
|
|
|
9,371 |
|
|
305,480 |
|
|
|
|
2021
£
5,958
At
31.3.22
£
180,707
76,661
408 |
|
2021
£
5,958 |
|
|
77,069 |
|
|
|
|
257,776 |
|
|
continued...
Page 16
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
19. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Future Farming Resilience Fund
Restricted funds
Gift to Nature
Island Rivers
TOTAL FUNDS |
Incoming
resources
£
138,754
52,821
191,575
176,686
14,999
191,685
383,260 |
Resources
Movement
expended
in funds
£
£
(152,773)
(14,019)
(52,821)
-
(205,594)
(14,019)
(157,379)
19,307
(14,814)
185
(172,193)
19,492
(377,787)
5,473 |
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Gift to Nature
Island Rivers
TOTAL FUNDS |
At 1.4.20
£
182,357
58,771
-
58,771
241,128 |
Net
movement
in funds
£
12,369
(1,417)
223
(1,194)
11,175 |
At
31.3.21
£
194,726
57,354
223 |
|
|
|
57,577 |
|
|
|
252,303 |
continued...
Page 17
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
19. MOVEMENT IN FUNDS - continued
Comparative 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 |
|
|
|
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.
TheFutureFarmingResilienceFundrepresentsfundingreceivedfromDefrawhichallowsthedeliveryof a
range of support measures to farmers and land managers.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 18
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
10
4,694
Grants
2,667
-
2,677
4,694
Other trading activities
Shop income
-
32,381
Investment income
Deposit account interest
57
-
Charitable activities
Project income
61,677
-
Management IWC
-
50,000
Town and parish councils
-
30,583
Grants
115,937
58,735
Car park income
-
15,292
177,614
154,610
Other income
Insurance claims
11,227
-
Total incoming resources
191,575
191,685
EXPENDITURE
Raising donations and legacies
Fundraising expenses
6,799
5,571
Other trading activities
Opening stock
-
3,590
Purchases
-
16,750
Wages
-
7,329
Social security
-
72
Pensions
-
186
Other operating leases
-
5,700
Rates and water
-
4,772
Carried forward
-
38,399 |
2022
Total
funds
£
4,704
2,667
7,371
32,381
57
61,677
50,000
30,583
174,672
15,292
332,224
11,227
383,260
12,370
3,590
16,750
7,329
72
186
5,700
4,772
38,399 |
2021
Total
funds
£
4,023
34,015 |
|
|
38,038
15,195
268
70,108
50,000
31,417
75,870
11,987 |
|
|
239,382
3,340 |
|
|
296,223
-
3,632
8,240
8,981
112
342
6,228
2,458
29,993 |
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 2022
Unrestricted
Restricted
funds
funds
£
£
Other trading activities
Brought forward
-
38,399
Insurance
-
461
Light and heat
-
595
Post and stationery
-
75
Licences and subscriptions
-
255
Repairs and renewals
-
653
Sundry expenses
-
75
Bank charges
-
815
Closing stock
-
(5,606)
-
35,722
Charitable activities
Wages
45,346
82,833
Social security
1,559
2,891
Pensions
4,869
7,139
Insurance
4,909
-
Light and heat
2,768
357
Telephone
329
661
Postage and stationery
2,348
45
Advertising
11,036
141
Sundries
1,172
112
Local projects
91,586
27,000
Bank charges
632
23
Professional fees
326
3
Motor expenses
664
4,462
Travelling expenses
153
240
Staff costs
2,363
504
Bookkeeping
1,800
-
Rates and water
136
-
Repairs and renewals
1,458
3,801
Computer costs
2,190
670
Licences and subscriptions
115
18
Bad debts
-
-
Unclaimable input VAT
15,161
-
Independent examination fees
1,200
-
Depreciation of tangible fixed assets
6,674
-
Loss on sale of tangible fixed assets
1
-
198,795
130,900
Total resources expended
205,594
172,193
Net income/(expenditure)
(14,019)
19,492 |
2022
Total
funds
£
38,399
461
595
75
255
653
75
815
(5,606)
35,722
128,179
4,450
12,008
4,909
3,125
990
2,393
11,177
1,284
118,586
655
329
5,126
393
2,867
1,800
136
5,259
2,860
133
-
15,161
1,200
6,674
1
329,695
377,787
5,473 |
2021
Total
funds
£
29,993
466
322
324
196
465
180
569
(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
355
91
3,115
1,530
4,567
691
256,123
285,048
11,175 |
|
|
|
This page does not form part of the statutory financial statements
Page 20