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 2024
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 2024
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 to 8 |
Cash Flow Statement |
9 |
Notes to the Cash Flow Statement |
10 |
Notes to the Financial Statements |
11 to 22 |
Detailed Statement of Financial Activities |
23 to 24 |
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2024.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 2024
ACHIEVEMENT AND PERFORMANCE
Review of the business
Anothergood year with all the core work being successfullydeliveredand a number of importantprojects progressing
well.
TheobjectiveforGifttoNatureremainstoprovideresidentsandvisitorsopenandfreeaccesstothe Island's
Countrysideandnaturalenvironment.Duringtheyearwecontinuedtobenefitfromthefundingsecuredfrom the
National Lottery Reaching Communities Fund to allow site enhancements and greater community engagement.
TheGifttoNatureshophadanotherindifferentyearandafterverycarefulconsiderationthedecisionwastaken to
serve notice to the landlord to close the shop in April 2024.
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 2024/25.
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.
Supportfor the Royal Isle of Wight AgriculturalSocietymanifesteditself in anotherbuoyantRoyal Isle of Wight County
Show,withincreasedvisitorsnumbersandexhibitors.TheSociety'swellestablishedEducationDaywasonce again
oversubscribed and was a great success.
Work on the AppleyTower projectprogressedwell with the tower renovationwork expectedto be completedby mid
2024. A key part of the projectis to promote the historyof the tower to a wider cross section of the community which
has been achieved in a number of different ways to include the creation of a play and display material.
NaturalEnterprisenowholdsa25leaseoverthetowerand4newlyconstructedbeachhuts.Whenthe renovation
work is complete the tower will reopen to the public as an art gallery, operated by Monkton Arts.
WithDefrafundingviatheFutureFarmingResilienceFund(FFRF)supporttofarmersandlandmanagersinthe post
Brexit Agricultural Transition period has continued.
Anumberofothersmallercommunitybenefitprojectswereundertakenin2023/24,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.
FINANCIAL REVIEW
Financial position
Totalincomefortheyearamountedto£632,295(2023-£399,547).Costsofgeneratingfundsamountedto £50,144
(2023 - £43,870). Costs of charitable activities amounted to £569,866 (2023 - £345,247).
Unrestrictedand restrictedfundscarriedforwardat the end of the year amountedto £209,316(2023- £200,509) and
£71,175 (2023 - £67,697) respectively.
Investment policy
The trustees have the power to invest in such assets as they see fit.
Page 2
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
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
Trustees
The trustees serving during the year were as follows:
Mrs L A Clarke - Vice Chairman
B G P Friend - Chairman
G R Biss
R Lovegrove
P D Thomas
No trustee held any interest in the company during the two years ended 31 March 2024.
The MemorandumandArticlesof Associationgives prescribedminimumandmaximumnumbersof Trustees allowed,
being no less than two and no more than sixteen.
Page 3
NATURAL ENTERPRISE LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
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 2024.
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 2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
51
Charitable activities
5
Gift to Nature
-
Charitable activities
255,779
Island Rivers
-
Royal IW Agricultural Society
34,816
Other trading activities
3
-
Investment income
4
5,356
Other income
6
300
Total
296,302
EXPENDITURE ON
Raising funds
7
9,754
Charitable activities
8
Gift to Nature
-
Charitable activities
212,534
Island Rivers
-
Royal IW Agricultural Society
38,751
Total
261,039
NET INCOME/(EXPENDITURE)
35,263
Transfers between funds
19
(26,456)
Net movement in funds
8,807
RECONCILIATION OF FUNDS
Total funds brought forward
200,509
TOTAL FUNDS CARRIED FORWARD
209,316 |
Restricted
funds
£
5,629
133,921
151,779
15,000
-
29,664
-
-
335,993
40,390
125,307
178,234
15,040
-
358,971
(22,978)
26,456
3,478
67,697
71,175 |
2024
Total
funds
£
5,680
133,921
407,558
15,000
34,816
29,664
5,356
300
632,295
50,144
125,307
390,768
15,040
38,751
620,010
12,285
-
12,285
268,206
280,491 |
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 |
The notes form part of these financial statements
Page 6
NATURAL ENTERPRISE LTD
BALANCE SHEET 31 MARCH 2024
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
9,008
CURRENT ASSETS
Stocks
15
-
Debtors
16
121,537
Cash at bank and in hand
365,449
486,986
CREDITORS
Amounts falling due within one year
17
(286,676)
NET CURRENT ASSETS
200,310
TOTAL ASSETS LESS CURRENT LIABILITIES
209,318
NET ASSETS
209,318
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
1,950
-
69,223
71,173
-
71,173
71,173
71,173 |
2024
Total
funds
£
9,008
1,950
121,537
434,672
558,159
(286,676)
271,483
280,491
280,491
209,318
71,173
280,491 |
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 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year
ended 31 March 2024.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2024 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 2024
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
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period |
2024
£
10,547
10,547
(4,297)
5,356
1,059
11,606
423,066
434,672 |
2023
£
(114,268)
(114,268)
(2,553)
1,991
(562)
(114,830)
537,896
423,066 |
|
|
|
The notes form part of these financial statements
Page 9
NATURAL ENTERPRISE LTD
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(increase) in stocks
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations |
2024
£
12,285
5,544
(5,356)
3,990
(52,393)
46,477
10,547 |
2023
£
10,430
7,049
(1,991)
(334)
(24,930)
(104,492) |
|
|
(114,268) |
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.4.23 |
Cash flow |
At 31.3.24 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
423,066 |
11,606 |
434,672 |
|
423,066 |
11,606 |
434,672 |
Total |
423,066 |
11,606 |
434,672 |
The notes form part of these financial statements
Page 10
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 11
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
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
Restricted
funds
funds
£
£
Donations
51
5,629
OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Shop income
-
29,664
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
5,356
- |
2024
Total
funds
£
5,680
2024
Total
funds
£
29,664
2024
Total
funds
£
5,356 |
2023
Total
funds
£
7,355
2023
Total
funds
£
31,466 |
|
|
2023
Total
funds
£
1,991 |
3. OTHER TRADING ACTIVITIES
4. INVESTMENT INCOME
continued...
Page 12
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
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 |
2024
£
63,869
34,141
20,002
15,909
94,371
313,187
15,000
34,816
591,295
2024
£
20,002
88,989
15,000
125,684
98,514
348,189 |
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 |
6. OTHER INCOME
OTHER INCOME |
|
|
|
|
|
|
|
2024 |
2023 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Other income |
300 |
- |
300 |
604 |
Insurance claims |
- |
- |
- |
1,265 |
|
300 |
- |
300 |
1,869 |
continued...
Page 13
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
7. RAISING FUNDS
Raising donations and legacies
Unrestricted
Restricted
funds
funds
£
£
Fundraising expenses
9,754
-
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Opening stock
-
5,940
Purchases
-
8,817
Closing stock
-
(1,950)
Staff costs
-
16,160
Other operating leases
-
7,000
Rates and water
-
866
Insurance
-
589
Light and heat
-
489
Staff costs
-
80
Post and stationery
-
340
Travelling
-
52
Computer costs
-
391
Licences and subscriptions
-
437
Repairs and renewals
-
95
Sundry expenses
-
28
Bank charges
-
1,056
-
40,390
Aggregate amounts
9,754
40,390 |
2024
Total
funds
£
9,754
2024
Total
funds
£
5,940
8,817
(1,950)
16,160
7,000
866
589
489
80
340
52
391
437
95
28
1,056
40,390
50,144 |
2023
Total
funds
£
5,446
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 |
|
|
|
continued...
Page 14
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
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 |
Direct
Costs (see
note 9)
£
125,307
390,768
15,040
38,751
569,866
2024
2023
£
£
207,865
148,717
7,459
5,535
6,784
2,753
1,107
1,035
2,473
2,582
3,626
6,776
286
6,798
248,247
115,241
1,099
1,034
34,255
13,469
5,866
6,429
259
305
5,942
1,966
1,920
1,920
1,102
205
4,082
5,798
8,525
6,253
205
311
21,770
8,371
1,450
1,400
-
1,300
5,544
7,049
569,866
345,247 |
Direct
Costs (see
note 9)
£
125,307
390,768
15,040
38,751
569,866
2024
2023
£
£
207,865
148,717
7,459
5,535
6,784
2,753
1,107
1,035
2,473
2,582
3,626
6,776
286
6,798
248,247
115,241
1,099
1,034
34,255
13,469
5,866
6,429
259
305
5,942
1,966
1,920
1,920
1,102
205
4,082
5,798
8,525
6,253
205
311
21,770
8,371
1,450
1,400
-
1,300
5,544
7,049
569,866
345,247 |
|
|
569,866 |
|
|
2023
£
148,717
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
7,049 |
|
|
345,247 |
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 15
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2024 |
2023 |
|
£ |
£ |
Depreciation - owned assets |
5,543 |
7,049 |
Other operating leases |
7,000 |
6,042 |
11. TRUSTEES' REMUNERATION AND BENEFITS
Duringtheyear,thecharitypaidMrGBissagrossremunerationof£48,878,andmadeemployer pension
contributionsof £6,225on 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'expensespaidfortheyearended31March2024norfortheyear ended
31 March 2023.
The charity reimbursed expenses totalling £1,247 to 1 trustee.
12. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
2024
£
196,873
9,835
17,317
224,025 |
2023
£
144,162
5,028
13,004 |
|
|
162,194 |
The average monthly number of employees during the year was as follows:
|
2024 |
2023 |
Charitable activities |
9 |
8 |
No employees received emoluments in excess of £60,000.
continued...
Page 16
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
405
Charitable activities
Gift to Nature
-
Charitable activities
188,369
Island Rivers
-
Royal IW Agricultural Society
28,903
Other trading activities
-
Investment income
1,991
Other income
1,265
Total
220,933
EXPENDITURE ON
Raising funds
3,696
Charitable activities
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
(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 |
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 |
continued...
Page 17
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
14. TANGIBLE FIXED ASSETS
Long
leasehold
£
COST
At 1 April 2023
1
Additions
-
At 31 March 2024
1
DEPRECIATION
At 1 April 2023
-
Charge for year
-
At 31 March 2024
-
NET BOOK VALUE
At 31 March 2024
1
At 31 March 2023
1 |
Fixtures
and
fittings
£
18,852
3,964
22,816
13,702
3,579
17,281
5,535
5,150 |
Motor
Computer
vehicles
equipment
£
£
840
15,224
-
332
840
15,556
420
10,540
210
1,754
630
12,294
210
3,262
420
4,684 |
Totals
£
34,917
4,296 |
|
|
|
39,213 |
|
|
|
24,662
5,543 |
|
|
|
30,205 |
|
|
|
9,008 |
|
|
|
10,255 |
All of the fixed assets are used in the direct furtherance of the charity's objectives.
15. STOCKS
Stocks
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments |
2024
£
1,950
2024
£
51,209
64,700
5,628
121,537 |
2023
£
5,940
2023
£
59,506
4,653
4,985 |
2023
£
5,940 |
|
|
69,144 |
|
continued...
Page 18
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Other creditors
Deferred income
Accrued expenses |
2024
£
10,683
4,440
5,139
242,767
23,647
286,676 |
2023
£
2,271
7,675
6,676
197,725
25,852 |
|
|
240,199 |
18. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Future Farming Resilience Fund
Restricted funds
Gift to Nature
Island Rivers
Appley Tower
TOTAL FUNDS |
At 1.4.23
£
195,488
5,021
200,509
66,992
705
-
67,697
268,206 |
Net
movement
in funds
£
36,293
(1,028)
35,265
3,515
(39)
(26,456)
(22,980)
12,285 |
2024
£
403
1
404
Transfers
between
funds
£
(26,456)
-
(26,456)
-
-
26,456
26,456
- |
2023
£
5,958
-
5,958
At
31.3.24
£
205,325
3,993 |
2023
£
5,958
- |
|
|
|
|
|
5,958 |
|
|
|
|
209,318
70,507
666
- |
|
|
|
|
|
71,173 |
|
|
|
|
|
280,491 |
|
19. MOVEMENT IN FUNDS
continued...
Page 19
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
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
Appley Tower
West Wight Greenway
TOTAL FUNDS |
Incoming
resources
£
170,346
125,956
296,302
169,214
15,001
98,513
53,265
335,993
632,295 |
Resources
Movement
expended
in funds
£
£
(134,053)
36,293
(126,984)
(1,028)
(261,037)
35,265
(165,699)
3,515
(15,040)
(39)
(124,969)
(26,456)
(53,265)
-
(358,973)
(22,980)
(620,010)
12,285 |
|
|
|
Comparatives for 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 |
continued...
Page 20
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
19. MOVEMENT IN FUNDS - continued
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
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 |
|
|
|
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.
TheAppleyTowerfundrepresentsfundingsecuredtoundertakerenovationstothetoweranddeliveryof a
heritage engagement programme.
continued...
Page 21
NATURAL ENTERPRISE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 22
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
51
5,629
Other trading activities
Shop income
-
29,664
Investment income
Deposit account interest
5,356
-
Charitable activities
Project income
75,922
53,265
Management IWC
-
63,869
Town and parish councils
-
34,141
Grants
214,673
133,516
Car park income
-
15,909
290,595
300,700
Other income
Other income
300
-
Insurance claims
-
-
300
-
Total incoming resources
296,302
335,993
EXPENDITURE
Raising donations and legacies
Fundraising expenses
9,754
-
Other trading activities
Opening stock
-
5,940
Purchases
-
8,817
Wages
-
14,519
Social security
-
541
Pensions
-
1,100
Other operating leases
-
7,000
Rates and water
-
866
Carried forward
-
38,783 |
2024
Total
funds
£
5,680
29,664
5,356
129,187
63,869
34,141
348,189
15,909
591,295
300
-
300
632,295
9,754
5,940
8,817
14,519
541
1,100
7,000
866
38,783 |
2023
Total
funds
£
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
763
6,042
846
40,352 |
This page does not form part of the statutory financial statements
Page 23
NATURAL ENTERPRISE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Restricted
funds
funds
£
£
Other trading activities
Brought forward
-
38,783
Insurance
-
589
Light and heat
-
489
Staff costs
-
80
Post and stationery
-
340
Travelling
-
52
Computer costs
-
391
Licences and subscriptions
-
437
Repairs and renewals
-
95
Sundry expenses
-
28
Bank charges
-
1,056
Closing stock
-
(1,950)
-
40,390
Charitable activities
Wages
58,398
123,956
Social security
3,046
6,248
Pensions
6,498
9,719
Insurance
6,678
781
Light and heat
6,738
46
Telephone
811
296
Postage and stationery
2,366
107
Advertising
3,290
336
Sundries
286
-
Local projects
107,718
140,529
Bank charges
1,027
72
Professional fees
7,721
26,534
Motor expenses
848
5,018
Travelling expenses
122
137
Staff costs
4,567
1,375
Bookkeeping
1,920
-
Rates and water
1,102
-
Repairs and renewals
1,087
2,995
Computer costs
8,261
264
Licences and subscriptions
35
170
Unclaimable input VAT
21,770
-
Independent examination fees
1,450
-
Independent examiners fee for non-IE work
-
-
Depreciation of tangible fixed assets
5,544
-
251,283
318,583
Total resources expended
261,037
358,973
Net income/(expenditure)
35,265
(22,980) |
2024
Total
funds
£
38,783
589
489
80
340
52
391
437
95
28
1,056
(1,950)
40,390
182,354
9,294
16,217
7,459
6,784
1,107
2,473
3,626
286
248,247
1,099
34,255
5,866
259
5,942
1,920
1,102
4,082
8,525
205
21,770
1,450
-
5,544
569,866
620,010
12,285 |
2023
Total
funds
£
40,352
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
7,049
345,247
389,117
10,430 |
|
|
|
This page does not form part of the statutory financial statements
Page 24