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 2023
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 2023
|
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 19 |
Detailed Statement of Financial Activities |
20 to 22 |
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2023.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 and environmental development 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 on the Isle of Wight 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 2023
ACHIEVEMENT AND PERFORMANCE Review of the business
Anothergoodyearwithalltheexistingworkbeingsuccessfullydeliveredandanumberofimportantnew projects
commenced.
TheobjectiveforGifttoNatureremainstoprovideresidentsandvisitorsopenandfreeaccesstothe Island's
Countrysideandnaturalenvironment.Duringtheyearwecontinuedtobenefitfromthefundingsecuredfrom the
National Lottery Reaching Communities Fund to allow site enhancements and greater community engagement.
TheGifttoNatureshophadanindifferentyear,unfortunatelynotbeingimmunefromthepressuresaffecting High
Street retailing. The coming year will be an important one for the shop as we reassess its value to the charity.
At the end of the year staff changes resulted in the appointment of a new Gift to Nature Ranger team.
WedeliveredanothersuccessfulyearoftheNonNativePlantsproject,withitsworktoprotecttheisland's natural
environmentbycontrollingthespreadofinvasiveplants.Thisworkisco-ordinatedandmanagedbythe Natural
Enterpriseteam with tremendoushelp from a strong band of volunteers.Landownersboth from the public and private
sectors are benefiting from this work. This is set to continue in 2023/24.
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.
SupportfortheRoyalIsleofWightAgriculturalSocietymanifesteditselfinanothersuccessfulRoyalIsleof Wight
CountyShow,whichmoved to two dayswith increasedvisitorsnumbersand exhibitors.The Society'swell established
EducationDayreceiveda royalvisitfromtheEarlandCountessof Wessexwhojoined300primaryschoolchildren at
the County Showground. The day covered all the various facets of the County Show and was a great success.
WorkontheAppleyTowerprojectprogressedtoanimportantstagewithfundingsecuredfromtheHeritage Lottery
Fundto undertakerenovationsto thetoweranddeliveryof a heritageengagementprogramme.Subjectto receipt of
tenders for the renovationwork this project is now projectedto cost £330,000with Natural Enterpriseproviding a cash
match £40,000 and extensive project management time and expertise.
NaturalEnterprisenowholdsa25leaseoverthetowerand4newlyconstructedbeachhuts.Workonthetower is
expectedtocommenceAutumn2023andtake12months.Whencompletethetowerwillreopentothepublicas an
art gallery.
BuildingonthesuccessoftheFutureFarmingResilienceFund(FFRF)InterimStage,Defrafundingwassecured to
deliver the Scaled Up Phase of FFRF on the Island. This will allow the continueddelivery of a range of support measures
to farmers and land managers in the post Brexit Agricultural Transition period.
Anumberofothersmallercommunitybenefitprojectswereundertakenin2022/23,allconsistentwiththe Trust's
objects to support the Island's natural environment and rural economy.
Our partnership working and collaborative ethos continue to be 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 2023
FINANCIAL REVIEW
Financial position
Totalincomefortheyearamountedto£399,548(2022-£383,260).Costsofgeneratingfundsamountedto £43,870
(2022 - £48,092). Costs of charitable activities amounted to £345,247 (2022 - £329,695).
Unrestrictedand restrictedfundscarriedforwardat the end of the year amountedto £205,720(2022- £180,707) and
£62,487 (2022 - £77,069) 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 2023
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 |
- resigned 11.11.2022 |
Mr G R Biss |
|
Mr R Lovegrove |
|
Mr P D Thomas |
- appointed 10.01.2023 |
J M D Brownscombe |
- resigned 15.03.2023 |
No trustee held any interest in the company during the two years ended 31 March 2023.
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 ............................................. 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 2023.
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 carrying out 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
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheAssociationofChartered Certified
Accountants, 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
The Association of Chartered Certified Accountants
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 2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
405
Charitable activities
5
Gift to Nature
-
Charitable activities
188,369
Island Rivers
-
Royal IW Agricultural Society
28,903
Other trading activities
3
-
Investment income
4
1,991
Other income
6
1,265
Total
220,933
EXPENDITURE ON
Raising funds
7
3,696
Charitable activities
8
Gift to Nature
-
Charitable activities
155,219
Island Rivers
-
Royal IW Agricultural Society
37,006
Total
195,921
NET INCOME/(EXPENDITURE)
25,012
Transfers between funds
19
(5,211)
Net movement in funds
19,801
RECONCILIATION OF FUNDS
Total funds brought forward
180,707
TOTAL FUNDS CARRIED FORWARD
200,508 |
Restricted
funds
£
6,950
115,536
9,058
15,000
-
31,466
-
604
178,614
40,174
125,799
12,520
14,703
-
193,196
(14,582)
5,211
(9,371)
77,069
67,698 |
2023
Total
funds
£
7,355
115,536
197,427
15,000
28,903
31,466
1,991
1,869
399,547
43,870
125,799
167,739
14,703
37,006
389,117
10,430
-
10,430
257,776
268,206 |
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
- |
|
|
|
5,473
252,303 |
|
|
|
257,776 |
The notes form part of these financial statements
Page 6
NATURAL ENTERPRISE LTD
BALANCE SHEET 31 MARCH 2023
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
10,255
CURRENT ASSETS
Stocks
15
-
Debtors
16
69,144
Cash at bank and in hand
346,309
415,453
CREDITORS
Amounts falling due within one year
17
(225,199)
NET CURRENT ASSETS
190,254
TOTAL ASSETS LESS CURRENT LIABILITIES
200,509
NET ASSETS
200,509
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
5,940
-
76,757
82,697
(15,000)
67,697
67,697
67,697 |
2023
Total
funds
£
10,255
5,940
69,144
423,066
498,150
(240,199)
257,951
268,206
268,206
200,509
67,697
268,206 |
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 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year
ended 31 March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 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 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. 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 2023
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 2023
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 |
|
|
|
|
|
|
|
2023 |
2022 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Donations |
405 |
6,950 |
7,355 |
4,704 |
Grants |
- |
- |
- |
2,667 |
|
405 |
6,950 |
7,355 |
7,371 |
Grants received, included in the above, are as follows:
Covid support
OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Shop income
-
31,466
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
1,991
- |
2023
£
-
2023
Total
funds
£
31,466
2023
Total
funds
£
1,991 |
2022
£
2,667
2022
Total
funds
£
32,381 |
|
|
2022
Total
funds
£
57 |
3. OTHER TRADING ACTIVITIES
4. INVESTMENT INCOME
continued...
Page 10
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
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
Appley Tower |
2023
£
63,184
31,417
4,001
16,934
33,279
164,148
15,000
28,903
356,866
2023
£
4,000
103,011
15,000
59,872
1,266
183,149 |
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 |
6. OTHER INCOME
OTHER INCOME |
|
|
Unrestricted
Restricted
funds
funds
£
£
Other income
-
604
Insurance claims
1,265
-
1,265
604 |
2023
Total
funds
£
604
1,265
1,869 |
2022
Total
funds
£
-
11,227 |
|
|
11,227 |
continued...
Page 11
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
7. RAISING FUNDS
Raising donations and legacies
Raising donations and legacies |
|
|
|
|
|
|
|
2023 |
2022 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Fundraising expenses |
3,696 |
1,750 |
5,446 |
12,370 |
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Opening stock
-
5,606
Purchases
-
14,381
Closing stock
-
(5,940)
Staff costs
-
13,477
Other operating leases
-
6,042
Rates and water
-
846
Insurance
-
490
Light and heat
-
854
Staff costs
-
69
Post and stationery
-
142
Travelling
-
371
Computer costs
-
364
Licences and subscriptions
-
268
Repairs and renewals
-
221
Sundry expenses
-
76
Bank charges
-
1,157
-
38,424
Aggregate amounts
3,696
40,174 |
2023
Total
funds
£
5,606
14,381
(5,940)
13,477
6,042
846
490
854
69
142
371
364
268
221
76
1,157
38,424
43,870 |
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 |
|
|
|
continued...
Page 12
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
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
Unclaimable input VAT
Independent examination fees
Independent examiners fee for non-IE work
Depreciation
Loss on sale of assets |
Direct
Costs (see
note 9)
£
125,799
167,739
14,703
37,006
345,247
2023
2022
£
£
148,717
144,637
5,535
4,909
2,753
3,125
1,035
990
2,582
2,393
6,776
11,177
6,798
1,284
115,241
118,586
1,034
655
13,469
329
6,429
5,126
305
393
1,966
2,867
1,920
1,800
205
136
5,798
5,259
6,253
2,860
311
133
8,371
15,161
1,400
1,200
1,300
-
7,049
6,674
-
1
345,247
329,695 |
Direct
Costs (see
note 9)
£
125,799
167,739
14,703
37,006
345,247
2023
2022
£
£
148,717
144,637
5,535
4,909
2,753
3,125
1,035
990
2,582
2,393
6,776
11,177
6,798
1,284
115,241
118,586
1,034
655
13,469
329
6,429
5,126
305
393
1,966
2,867
1,920
1,800
205
136
5,798
5,259
6,253
2,860
311
133
8,371
15,161
1,400
1,200
1,300
-
7,049
6,674
-
1
345,247
329,695 |
|
|
345,247 |
|
|
2022
£
144,637
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 |
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 13
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2023 |
2022 |
|
£ |
£ |
Depreciation - owned assets |
7,049 |
6,674 |
Other operating leases |
6,042 |
5,700 |
Deficit on disposal of fixed assets |
- |
1 |
11. TRUSTEES' REMUNERATION AND BENEFITS
Duringtheyear,thecharitypaidMrGBissagrossremunerationof£25,116,andmadeemployer pension
contributionsof £3,272on 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'expensespaidfortheyearended31March2023norfortheyear ended
31 March 2022.
12. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
2023 |
2022 |
Charitable activities |
8 |
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
2,677
Charitable activities
Gift to Nature
-
Charitable activities
152,365
Island Rivers
-
Royal IW Agricultural Society
25,249
Other trading activities
-
Investment income
57
Other income
11,227
Total
191,575 |
Restricted
funds
£
4,694
139,610
-
15,000
-
32,381
-
-
191,685 |
Total
funds
£
7,371
139,610
152,365
15,000
25,249
32,381
57
11,227 |
|
|
383,260 |
EXPENDITURE ON
continued...
Page 14
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Raising funds
6,799
41,293
Charitable activities
Gift to Nature
-
116,086
Charitable activities
185,589
-
Island Rivers
-
14,814
Royal IW Agricultural Society
13,206
-
Total
205,594
172,193
NET INCOME/(EXPENDITURE)
(14,019)
19,492
RECONCILIATION OF FUNDS
Total funds brought forward
194,726
57,577
TOTAL FUNDS CARRIED FORWARD
180,707
77,069
14.
TANGIBLE FIXED ASSETS
Fixtures
Long
and
Motor
Computer
leasehold
fittings
vehicles
equipment
£
£
£
£
COST
At 1 April 2022
1
18,102
840
13,420
Additions
-
750
-
1,804
At 31 March 2023
1
18,852
840
15,224
DEPRECIATION
At 1 April 2022
-
10,893
210
6,510
Charge for year
-
2,809
210
4,030
At 31 March 2023
-
13,702
420
10,540
NET BOOK VALUE
At 31 March 2023
1
5,150
420
4,684
At 31 March 2022
1
7,209
630
6,910 |
Total
funds
£
48,092
116,086
185,589
14,814
13,206 |
|
377,787 |
|
5,473
252,303 |
|
257,776 |
|
Totals
£
32,363
2,554
34,917
17,613
7,049
24,662
10,255
14,750 |
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 2023
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 |
2023
£
5,940
2023
£
59,506
4,653
4,985
69,144
2023
£
2,271
7,675
6,676
197,725
25,852
240,199
2023
£
5,958 |
2022
£
5,606
2022
£
34,904
102
9,208
44,214
2022
£
13,704
17,837
87,320
197,408
28,422 |
2022
£
5,606
2022
£
34,904
102
9,208 |
2022
£
5,606 |
|
|
|
44,214 |
|
|
|
344,691 |
|
|
|
|
2022
£
5,958 |
|
|
continued...
Page 16
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
19. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Future Farming Resilience Fund
Restricted funds
Gift to Nature
Island Rivers
Appley Tower
TOTAL FUNDS |
At 1.4.22
£
180,707
-
180,707
76,661
408
-
77,069
257,776 |
Net
movement
in funds
£
19,992
5,021
25,013
(9,669)
297
(5,211)
(14,583)
10,430 |
Transfers
between
funds
£
(5,211)
-
(5,211)
-
-
5,211
5,211
- |
At
31.3.23
£
195,488
5,021 |
|
|
|
|
200,509
66,992
705
- |
|
|
|
|
67,697 |
|
|
|
|
268,206 |
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
Appley Tower
TOTAL FUNDS |
Incoming
resources
£
161,062
59,872
220,934
154,554
15,000
9,059
178,613
399,547 |
Resources
Movement
expended
in funds
£
£
(141,070)
19,992
(54,851)
5,021
(195,921)
25,013
(164,223)
(9,669)
(14,703)
297
(14,270)
(5,211)
(193,196)
(14,583)
(389,117)
10,430 |
|
|
|
continued...
Page 17
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Gift to Nature
Island Rivers
TOTAL FUNDS |
At 1.4.21
£
194,726
57,354
223
57,577
252,303 |
Net
movement
in funds
£
(14,019)
19,307
185
19,492
5,473 |
At
31.3.22
£
180,707
76,661
408 |
|
|
|
77,069 |
|
|
|
257,776 |
Comparative 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 |
|
|
|
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
continued...
Page 18
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
19. MOVEMENT IN FUNDS - continued
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.
TheAppleyTowerfundrepresentsfundingsecuredtoundertakerenovationstothetoweranddeliveryof a
heritage engagement programme.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 19
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
405
6,950
Grants
-
-
405
6,950
Other trading activities
Shop income
-
31,466
Investment income
Deposit account interest
1,991
-
Charitable activities
Project income
54,390
7,792
Management IWC
-
63,184
Town and parish councils
-
31,417
Grants
162,883
20,266
Car park income
-
16,934
217,273
139,593
Other income
Other income
-
604
Insurance claims
1,265
-
1,265
604
Total incoming resources
220,934
178,613
EXPENDITURE
Raising donations and legacies
Fundraising expenses
3,696
1,750
Other trading activities
Opening stock
-
5,606
Purchases
-
14,381
Wages
-
12,541
Social security
-
173
Carried forward
-
32,701 |
2023
Total
funds
£
7,355
-
7,355
31,466
1,991
62,182
63,184
31,417
183,149
16,934
356,866
604
1,265
1,869
399,547
5,446
5,606
14,381
12,541
173
32,701 |
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 |
|
|
11,227 |
|
|
383,260
12,370
3,590
16,750
7,329
72
27,741 |
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 2023
Unrestricted
Restricted
funds
funds
£
£
Other trading activities
Brought forward
-
32,701
Pensions
-
763
Other operating leases
-
6,042
Rates and water
-
846
Insurance
-
490
Light and heat
-
854
Staff costs
-
69
Post and stationery
-
142
Travelling
-
371
Computer costs
-
364
Licences and subscriptions
-
268
Repairs and renewals
-
221
Sundry expenses
-
76
Bank charges
-
1,157
Closing stock
-
(5,940)
-
38,424
Charitable activities
Wages
51,934
79,687
Social security
1,563
3,292
Pensions
4,368
7,873
Insurance
5,535
-
Light and heat
2,647
106
Telephone
369
666
Postage and stationery
2,503
79
Advertising
6,776
-
Sundries
6,798
-
Local projects
70,358
44,883
Bank charges
971
63
Professional fees
9,960
3,509
Motor expenses
559
5,870
Travelling expenses
190
115
Staff costs
1,203
763
Bookkeeping
1,920
-
Rates and water
205
-
Repairs and renewals
420
5,378
Computer costs
5,515
738
Licences and subscriptions
311
-
Unclaimable input VAT
8,371
-
Independent examination fees
1,400
-
Independent examiners fee for non-IE work
1,300
-
Carried forward
185,176
153,022 |
2023
Total
funds
£
32,701
763
6,042
846
490
854
69
142
371
364
268
221
76
1,157
(5,940)
38,424
131,621
4,855
12,241
5,535
2,753
1,035
2,582
6,776
6,798
115,241
1,034
13,469
6,429
305
1,966
1,920
205
5,798
6,253
311
8,371
1,400
1,300
338,198 |
2022
Total
funds
£
27,741
186
5,700
4,772
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
-
323,020 |
|
|
|
This page does not form part of the statutory financial statements
Page 21
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Brought forward
185,176
153,022
Depreciation of tangible fixed assets
7,049
-
Loss on sale of tangible fixed assets
-
-
192,225
153,022
Total resources expended
195,921
193,196
Net income/(expenditure)
25,013
(14,583) |
2023
Total
funds
£
338,198
7,049
-
345,247
389,117
10,430 |
2022
Total
funds
£
323,020
6,674
1 |
|
|
329,695 |
|
|
377,787 |
|
|
5,473 |
This page does not form part of the statutory financial statements
Page 22