Charlty roglstratlon number 1084259 Company reglstration number 040930881England and Walos) WYCHWOOD FOREST TRUST LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WYCHWOOD FOREST TRUST LTD LEGALAND ADMINISTRATIVE INFORMATION Truste•8 Mr H Astor Mr H Sl John Ms L Stavè18y Mr R Crocker Mr R Newman Mr R Wamer Mr I Wilkinson Mr D Astor Ms S Davles Charlty numbor 1084259 Company numb•r 04093088 Roglsterod offlce WODC Woodgreen New Yatt Road Witney Oxfordshire OX28 1NB Indepondènt •xamln•r Chapman Worth Llmited 2 The Old Estate Yard High Street East Hendred Wantage OxfordshSre OX12 8JY
WYCHWOOD FOREST TRUST LTD CONTENTS Pago Truste8s' report Independent examine8 report Statement of financlal adlvities Balance sheet Notes to the financlal statements 8-18
WYCHWOOD FOREST TRUST LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Truste8s present thelr report and financlal statements for the year ended 31 March 2024. The accounts have been prepared in accordance with th8 accounting pollcies set out in note 1 to the accounts and comply with the Charitys govèmlng document. the Companies Act 2006 and °Accounting and Reporting by Charities: Statement of Recommended Practlcè applicable to Charities preparing their accounts in accordancè with th8 FlnancSal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° {as amended for accounting periods commencing from 1 January 2016). ObJectlv•s and aetlvltles The Charivs objects are to advance the education of the public In th8 hlstory. ecology, management and economy of woodlands, tr888 and othèr wildlife habltats and their place in thè characteristic landscapes of the fotyknone parishes currently within the District of W8St Oxfordshir8 all of which are wholly or partly within the area of the fomer Noman royal hunting Forest of Wychwood and such other areas as the Charity may from time to tlme decide. and lo conserve, restorè, re-8Stablish and promole the management and use of tr88s. woodlands, other wildlife habitats and characleristic landscap8s for the benefit and wherever 8ppropriate wlth the participalion of thè public and thereby to enhance the natural beauty, am8nltle$ and rural economy of the countryside of the parishes and of Wesl Oxfordshir8 and such other areas as the Charity may from time to time declde. The Trustees have pald due regard to guidan¢p issued by the Charity Commlsslon in declding what activilles the Charfty should undertake. The strategios adopted In furthèrance of these objects are: 1 Consetv8 and rèstore natural landscapes and wildllfe habitats. manage our reserves to an exemplary level to Improv8 wlldlif8 habitats directly, through partnérships or via influence or advice, plant and manage trèès to C819 morè wildlife habitat and conn8clivlty wlth oth8r habitats deliver landscape scale conseryalion proj8Cts to bring mor8 land into better conservallon status support our conservation groups (currently Bird Aid, Hedgelaying, Barn Owl, Flora, Drystonè Walling) 2. Impart natural landscapes and wildlife habitats learnSng. We wlll: Increase awareness and understanding of the Wychwood Forest's natural ènvironment build knowledge and skills that support restoration and conservation 3. Engagè individuals and organisalions in conservation support and aotion. We will.. collaborate in funding and dellvery partnershlps offer a variety of volunteering opportunities promote membership of th8 Wychwood Forest Trust omrnunicate with individuals, communlties and organisations 4. Govern and run an effectlve financially viable organisation that adheres to its missSon and valu8s. We wlll: ensure we hav8 th8 necessary policies and processes in place. keeping abreast of current leglslation and best practice support our tTUStees, staff and volunteers with Iraining and equipment needed to perfonn their role maintain and develop income streams and manage our finances prudently
WYCHWOOD FOREST TRUST LTD TRUSTEES. REPORT (CONTINUED>(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and p•rfomianc• During the year the Charity continued lo forge ahead with a broad range of actlvlti8s, guided by the key themes of our current Stratègic Plan. Our ¢haritable activities are designed lo hav8 cross-cutting effects with these themes to maximise the impact of our resourc8s and some key activitles are oullined here. Con$oNatlon and Rostoratlon Th8 Chartty contlnued to maintain its freehold ownership of the nature r8s8rvès at Foxburrow Wood, Grimes Meadow. Singe Wood and Gibbets Close Hill. We also continued our management or lease agreements for Wigwell in Charlbury and Dean Common near Chadlington. Manag8m8nt of these reserves to maintain and enhance their value for people and wildlife was the focus of our site-based conservation a¢tivlty during the year. Work commenced on the restoration of the 20 ha Gibbets Close Hill slt8 on the outskirts of Witney, refining plans to allow natural succèsslon to play a signific8nt role. In collaboration with Oxford Unlversity, w8 b8gan to record dats from a series of long-tenn èxperiments lo monltor the effécts of allowing woodland habitat to re-establish largély through ecologlcal succession and natural processes. Although 8ssenllally a minimal Interventlon 'wSlding' approach, the dècislon was taken to disrupt the historic agricultural drainage of the land that conveys rainwater away from the land. In partnership with Freshwat8r Habitats Trust, we devised a project lo create nine discrete wetlands by uncovering and blocking the field draln system. The interv8ntlon wlll re-establlsh more natural drainage pattems and retum standlng water to Ihe land. At Wigwell nature reserve in Charlbury we continued to work with the Friends of Wigwell volunt88r group and wider group of stak8holders to furth8r implemènt plans for crealing a wllder and more diverse habitat mosaic across the reserve, whilst continuing to malntaln the existing valuable ecological features such as the Ilmeslone grassland Local Wildlife Sila. Importanl Scrub species such as blackthom. havthorn and dog rose have been allowed to encroach from hedgerows and field margins, and collectively are now providing a signrfio8nt nectsr source when in flower. The abundance of patchy regeneratlng scrub Ss also of grèat value as the food plants of Several rare buttertly sp8cl8s in the lOlIty. This year our efforts were rewarded by the first record of the black hairstreak, a blackthom 8peciallst known from only a few dozen sites in central England. Slnge Wood in Halley has been selectèd as 8 survey site for a new national project initiated by the Bat Conservation Trust lo understand more about Iwo of the UK'S rar8st bats. Both the barbastelle and B8chsl8in's bat rèly on old, often ancient, humid woodlands of the kind now so infrequent in th8 modern landscape. Even for bats, both species live secretlve lives up amongst woodland canopies and so their natural hislories are still little understood. Singe Wood provides the right type of habitat in the right typ8 of landscap8, so hopefijlly can contribute to our understanding of these mysterious animals if present. Beyond our own nature reserves, we have worked on or given conservation advice to many individuals or organisations, Including community woodland groups, private estates and parish councils. We have also prioritised partnership working to achieve mutual benefit. Loamlng & Voluntoorlng Our learning and volunteering activities throughout the year were focussed around our range of work parties, outreach events and school visits. Throughout the year we have used our conservation volunteers across all of our own sites, and have run work parties at Carterton Country Park in collaboratlon wlth Wést Oxfordshire DistrSct Council. W8 have h8ld a program of walling and hedge laying skills courses and another of guided walks and training sessions covering wlnter tree identification, reptile natural history and landscape ecology amongst others. We have continued to build stronger, deeper links with local Scout. Brownie and Bèavef groups and visited numerous local primary schools to talk about nature and WFT. with generous grant support from FCC Communities Foundation, we began work on planning and constructing an outdoor learning area at Foxburrow Wood. When completed the enclosed area will have shelters, composting toilets and other rustic furniture and be shared wilh other local envlronmental and outdoor education groups.
WYCHWOOD FOREST TRUST LTD TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Partn•rshlp and Partlclpatlon The Dry Stone Walllng Group contlnued to thriv8 and its member's skills were still very much in d8mand. Having compleled a major project at Cogges Manor Fami, our 8xpert walling team began the brand new entrance wall at FOxbu0W Wood. This has been a very significant job, but as it has taken shape has developed into an amazing new entrance to the reserve and a b8autiful piece of aftSmanship. Our dry slone walls are a proud heritage feature of the Wychwood area and the wider Cotswolds in their own rlght. but they also provide important habilals for a wide range of plants and animals. The hedge laying group continued to work on a similarly larg8 job of laylng more Ihan 1 km of young hedge along Jubi188 Way in Witney to thè north of Glbbets Close Hill. Undertaken in partnership with Wèst Oxfordshire District Council, the work has attracted much posStlV8 attention locally as St has been gradually laid. The Flora Group monllorèd seven rare species across more than 20 dlfferenl sltes. Th8 Wychwood remains a last stronghold in our region for a number of sp8¢les that have become very rare in the modem landscape, such as m8adow clary, red hemp-nettle, and yellow slar-of-Bethlehem. The group monltor trends in th8s8 speclal rarities over the years. They also make recommendations and lake management actions to ensure the ntInued survival and where possible, local expansion, of thése sp8ci8s at their remaining known locations. Flnanclal rovlew It is the policy of the Charlty that unr8strlct8d funds whlch have not been deslgnated for a spoclfic use should be main18ined at a level equivalent to meet atleast slx months, 8xpenditurg. The Trustees consider Ihat reserves at thls18V81 will 8nsur8 that, in the èvent of a significant drop Sn funding, they will be able lo contSnu8 the Charlty's currenl activities while conslderation Is given to ways In whlch addltional funds may be raised. Th58 level of reserves has been maintained throughout the year. The Charity has a reserves policy thal also 8ncompass8s contingency funds agalnst losses In Institutional funding and a development fund for investrnent In new projocts. The Trustees identify and periodically revlew thè major rlsks to which the Charity is exposed and ensure that systems are in place lo mitigate these risks. Those risks includè financial, environmental, compliance and OP8rational areas. In order that the risks to which we are exposed are minlmSsed we ensure that W8 have adequate insurance in place, maintain and monitor our reserves policy, rnonitor our financial activities against an approved budget and strategic plan, seek lo widen the range of fund-raising activlties, pay particular attentlon to publicity and keeping our members informed about our activities, ensure a close working relationship b&een the Trustees and the Wychwood Forest Trust partners and und8rstand and comply with company and charity law and wulation. Structure, govornanco and managoment Wychwood Forest Trust Ltd - the Charity - is a company Ilmited by guaranteè. govemed by a Memorandum and Articles ofAssociatlon, whlch are dated 22nd May 2012. The Trustees meet as a Board every three months to Oversee the activltl8s of the Charity to ensure its objèctives are being achieved. Certain r8sponsibilitl8s of the Board have been delegaled to various sub-committees that additionally meet as required. The Chief Executive, Neil Clennell, has delegated authority to manage the Charity's day to day affairs, in line wilh the Charity's objectives. The Trustees rernain responsible for the strategy and policies of the Charity. The Trustees have been elected for th8ir experience and knowledge of various aspects of an environmental charity's affairs. The administrative and financial housekeeping of the Charlty are covered by the Finance Manager. The Chief Executive contlnues to develop and implement fund raising activities to complement the grants that we receive from our local authority partners and generate from our operational activities. The Charity would like to offer its thanks for thè continued support of Oxfordshire County Council and Wesl Oxfordshire District Council. The TTUStees. who are also the directors for the purpose of company law, and vtho served during the year and up to the date of signature of the financial statements were.. Mr H Astor Mr H St John
WYCHWOOD FOREST TRUST LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Ms L Slaveley Mr R Crocker Mr R Newman Mr R Warner Mr I Wilkinson Mr D Astor Ms S Davie8 None of the Twstee8 has any beneficial Interest in the Company. AH of the Trustees are member8 of the Company and guarantee to contdbute £1 In the evenl of a wlndlng up. The Tru8teeJ are required to prepare financlal statements for each ffinanclal year, whkh glve a true and falr vlew of the slate of affairs of the Charity and the incoming re80urces and applicatton of r880urc8s, induding the net income or expondlture for the yeai. In preparing th05@ financial Blalernents, the Trustees are required to.. 8ele¢t Suitable accounting pollcle8 and apply them con8iStently.' make judgements and estimates that are reasonable and prudent., stste wh8th8r applicable accountlng standards have been followed, $ubJ8ct to any material departUrn8 dlsclosed and explained Sn the financial 8tatement8- prepare financial statements on the going concern ba$13 unless it is inapproprlate to presume that the Company will continue in business. The Trustees are responslble for keeplng proper accounting r8cords whlch disclose wlth reasonable accurafw 8t any tlme the finanrial position of the Charty and which enable them lo ensure that the financial slatements comply wlth the Companies Act 2006. They are also respon$lble for taklng reasonabl8 steps for the preventlon and detection of fraud and other Irregularitl•8. TheT ees, f port was approved by the Board of Trustee8. Mr D A•tor Trustee
WYCHWOOD FOREST TRUST LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WYCHWOOD FOREST TRUST LTD I report to the Truste8s on my Èxamination of the financial stat8m8nts of Wychwood For8st Trust Ltd {the Charity) for the year ended 31 March 2024. Rasponslbllltl•s and basls of report As the Trustees of the Charity land also its directors for the purposes of company law) you are responsibl8 for the preparalion of the financial slat8ments in accordance with the requirements of the Companies Act 2006 Ith8 2006 Act). Havirsg satisfied myself that the financial statements of the Charity are not required to be audited und8r Part 16 of thè 2006 Act and are eligible for independent examination, I report In respect of my examination of the Charity's financlal stat8m8nts ¢arried out under section 145 of the Charities Act 2011 {th6 2011 Act}. In carying out my examination I have followed all the applicable Dlrection5 given by the Charity Commission under section 145{5){bl of the 2011 Acl. Indepondont oxamlnofs 8lat•m•nt I have completed my examination. I confirm that no matters have come to my attention in connection with the examlnation giving me cause to believe that in any matenal r8spect'. accounting records wer8 not kept in respect of the Charity as requlred by section 386 of th8 2006 Act,, or the financial statements do not accord wlth those records,, or the financial stalements do not comply with the accounting requirements of section 396 of the 2006 Act othèr than any requirement that the accounts give a true and fair view whi¢h 15 not a matter considered as part of an independent examination; or the financial statements have not been prepar8d in accordance wlth the methods and principles of the Statement of Recommended Practice for accounting and r8POrting by charities applicable to ch8Ttti88 preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021. I have no concems and have come across no other matters In connection wlth the 8xamlnation to which attentlon should be drawn in this report in order lo enabl8 a proper understanding of the financial slatements lo be reached. Anna Chapman F Chapman Worth Limited 2 The Old Estatè Yard High Street East Hendred Wantage Oxfordshlre OX12 8JY 46/1112dLI
WYCHWOOD FOREST TRUST LTD STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlctèd Dèslgnated Restrictod fund8 funds fund8 Total 2024 Total 2023 Notès Incomè fr Donatlons Charitable activiti8s Event income Investments oth8r Income 58,453 58,453 12,250 15,672 723 500 491.280 10,000 19,206 541 12,250 12,931 2,741 723 500 Total Income 62,417 25.181 87.598 521.027 ondlture on: Raising funds Fundraising and publicity 315 2.000 2,315 315 Charltsble a¢tSvities 91,134 31.165 6,180 128,479 118,037 Totsl resourcos expended 91,449 33,165 6,180 130,794 118,352 Not loutgolng)Ilncomlng r•sourcos bofora transfers {29,032) 17,984) (6,180) (43,196) 402,675 Gross transfèrs bétween funds {19,794) 19,794 Not1oxpondlture)Ilncome for the y•arl Ngt movement In funds {48.826} 11,810 (6,1801 (43,196) 402,675 Fund balances al 1 Aprll 2023 136,598 95,179 770,346 1,002,123 599,448 Fund balancos at 31 March 2024 87.772 106,989 764,166 958,927 1,002,123 The ststemenl of financlal activilies indudes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognlsed in the year. All income and expenditure d8rtve from continuing activitl8S. The statement of financial aclivities also complies with the requlrements for an income and expenditure account under the Companies Act 2006.
WYCHWOOD FOREST TRUST LTD BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Note8 Flx•d au•ts Tangible asset8 14 789,180 768,914 Curr•nt aM•ts Stock8 Debtors Cash 8t bank and In hand 15 16 498 3,775 171.337 545 7,594 241,407 175,810 249,548 Cr•dltorn: •mount• falllng du• wlthln on• y•ar 17 (5,863) (18,337) Net current 088ets 169.747 233.209 Total a8$0ts I* currnnt Ilablllllg$ 958,927 1,002,123 Incom• fund8 Restrfded fund8 Deswnaled funds Unre8trlcted lund8 19 20 764.166 106,989 87,772 770,346 95,179 136,598 958,927 1,002,123 The Company Is enlllled to the exempllon from the audit requlrement contalned In 88ctlon 477 of the Companles Act 20L. for the year ended 31 March 2024. The members have nol required the Company to obtain an audit of It8 financial statements for the year in questlon In accordance wlth sectlon 476. The TN8tee8 acknowledge thelr responslbllllles for ensuring Ihat the Charlty koep8 accounllng record8 whlch comply with section 386 of the Acl and for preparlng financial statements which give a true and f81r vlew of the slat of affairs of the Company as at the end of the financlal year and of It8 incoming resources and application of resources, includin9 Its incorne ond expendrture, for the financial year in accordance wlth the requirements of sections 394 and 395 and which otherwise comply with the requlremenls of the Companies Acl 2006 relating to fjnancbal statements, so frdf 88 appllc4ble to the Company, These financial statements have been prepared in accordance wlth the Provisions applicable to companles subject to the 8mall companles regime. The accounts were approved by the Trustees on .... ....... Mr D Astor Tru•tso Company Reglstratlon No. 04093088
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos Charlty Informatlon Wychwood Forest Trust Ltd Is a prlvatè company Ilmlt8d by guarantéè Incorporated In England and Wales. The registered office is WODC Woodgreen, New Yatt Road, Witn8y. Oxfordshlre, OX28 1 N8. 1.1 Aeeountlng eonvonllon Th8 financial statements have beén prepared In accordan¢8 wlth the Charlty's govemlng document, the Companies Act 2006 and 'Accounting and Reporting by Chanties: Statement of R8commended Practice applicable to charities preparing their acGounts in accordance with the Flnanci81 Reportlng Standard applicable in the UK and Republic of Ir81and (FRS 102). las amended for accounting periods commencing from 1 January 20161. The Charity is a Public Benefit Entity as defined by FRS 102. The Charlty has taken advantag8 of thè provislons in th8 SORP for charities applylng FRS 102 Updat8 Bulletln 1 nol to prepore a Statement of Cash Flov. Thè financlal slat8m8nts are prepared In sterllng, whlch 18 the functional currency ol the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial stal8mènts have b8en prepared under the hlstorf¢al cost ¢onvenllon. The prlncipal accountlng policies adopted ar8 set out below. 1.2 Golng coneam At the time of approvlng tho financial slat8m8nts. the Trustees have a reasonabl8 8xpectatlon that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Truslees contlnuè to adopt th8 golng concèm basls of accounting in preparing the financial stslements. 1.3 Charltable fund8 Unrestncted funds are available for use at the discretion of the Trust88s In furtherance of their charitable objectives. DesSgnated funds comprise funds whSch have been set aslde al the dlscretlon of the Trustees for specific purposes. The Purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subjèct to spècific conditions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted funds are set out in the notès to the financial statements. 1.4 Incomlng resourrAS Income is recognised when the Ch8rity is legally entitled to it after any performance conditions have en m81. the amounts can be measured reliably, and it is probablè that Income will be received. Cash donations are r8cognised on recelpt. other donatlons are r8cognis8d once the Charlty has been notified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of Covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notrfied of an imp8ndlng distribution. the amount is known, and receipt is expected. If the amount Is not known. the legacy Is treated a5 a contingent asset.
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos (Contlnuod) 1.5 Resourcos oxpended Expenditure is recognised onc8 there Is a legal or construdive obligation to transfer economic benefit to a third party, it is probable thal 8 tr8nsfer of economic benefits wlll be required in settlement, and th8 amount of the obligation can be measured rèliably. Expenditurè is classified by activity- The costs of each activity are made up of the total of direct costs and shared costs, including support costs Involvèd in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that actlvlty. Shar8d costs which contrlbule lo more than one activity and support costs which are not attributable lo a single activity are apportioned bebNeen those activities on a basis consistent with the use of resources. Cèntral staff costs are allocated on Ihe basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed asset8 Tangibl8 fixed assets are Inltlally measured al cost and subsequ8ntly measured at Cost or valuallon, net of depreciation and any impalm8nl losses. Depreciation is recognis8d so as to wrlte off the C¢)St or valuatlon of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Motor vghlcles not depr8cSated 25Vo reducing balance The galn or loss arislng on the disposal of an asset is detennlned as th8 dlffèrènce be0n the sale proceeds and thè carrylng v81uè of the a5sel, and is recognised in the statement of financial activilies. 1.7 Impalrniont of flxed assets At each reporting end datè, the CharSty reviews the carrylng amounts of its tangible assets to determlne whether there is any indication that those assets have sufferèd an impaimènt loss. If any such indication exists, the recoverable amount of the assèt is èstlmatèd in order to detemlne the extent of the Impainnent loss (if any). 1.8 Stock• Stocks are stated al the lower of cost and eslimated selling pric8 less costs to ¢omplÈt8 and sell. Cosl comprSs8s direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for dislribution al no or nominal conslderation are measured at the lower of replacement cost and cost. Net realisable value is the estimated selllng price less all 8sllmated Costs of completion and costs to be incurred in marketing, Selling and distribution. 1.9 Cash and cash equlvalonls Cash and cash equivalents include cash in hand, deposits held at call wlth banks, othèr short-term liquld investments with original maturities of three months or less, and bank overdrafts. Bank overdraft5 are shown within borrowings in current liabilities.
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcl•8 {Contlnued) 1.10 Flnan¢lal Instruments Thè Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financlal Instruments Issues, of FRS 102 to all of its financial instruments. Flnanclal Instruments are rècognised In the Charivs balance sheet when the Charity becomes paty to the contractual provisions of the instrument. Financlal assets and Ilabilltles are off50t, with the net amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognis8d amounts and th8re Is an intenlion to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc Ilnanclal assets Basic financial assets, which include debtors and cash and bank balancès, are initially measurèd at transactlon price Including transaction costs and are subsequently carrS8d at amortised cost using the effective interest method unless the arrangement constitutes a financing transaclion. where the tran5aclion is measured at the present value of the future rec*ipts discount8d at a markel rale of Interest. Financlal assets Classlfièd as re¢elvable wlthln one year are not arnortlsed. 8•s1¢ flnan¢lo1 Ilabllltles Basic financial liabilities, including credltors and bank loans are inltially r8cognis8d at transaction prlce unless the arrangement constllutes a financlng transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities Glasslfied as payable within one year are not amortised. Debt Instruments are subsequently carrl8d at amortlsed cost, uslng the effective interest rate method. Trade creditors are obligations lo pay for goods or s8Nices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabili1S8s if payment Ss due within one year or lèss. If not, they arè presenlèd as non-current liabilities. Trade creditors are recognised initially at transaction prlce and subsequently measured at 8mortls8d cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabllilies are derecognised when the Charlty's contractual obligations expire or are distharged or Cancèlled. 1.11 Employoe benoflts The cost of any unused holiday entitlement Is recognlsed In th8 period In which the employèe's s8Nicès ar8 received. Temination benefits are recognised immediately as an expense when Ihe Charity is d8rnonstrably committed to teminate the employment of an employee or to provide tennination benefits. 1.12 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 10-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 crftlcal aecountlng astlmates and Judgements In th8 application of the Charity's accounting policies, the Trust88s are required to make judgements. estlmates and assumptlons about the carying amount of assets and liabilitles that ar8 not readlly apparent from other sources. Th8 estimatès and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may drffer from these 8StimatgS. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate Is revls8d where the revislon affects only that Period. or In th8 period of the revision and future periods where Ihe revision affects both current and future periods. Donatlon$ Unrestrlclod D•slgnated Rgstrlcted fund8 funds funds Total 2024 Tolal 2023 Donations and gifts Grants receivable Membership fees Donated goods and services 8,873 33,912 14,668 1,000 8,873 33,912 14,668 1,000 386.070 88.912 12.718 3,580 58,453 58,453 491,280 For the year ended 31 March 2023 58,300 2,300 430,680 491.280 Charltablo actlvltlo• 2024 2023 Grants received 12,250 10,000 Event Income Unrestrlcted Deslgnatod funds funds 2024 2024 Total Unrestrlcted Deslgnated funds funds 2023 2023 Total 2024 2023 Evenl income Sale of goodslservices 12,931 12.931 2,741 16,180 16,180 3.026 2,741 3,026 2,741 12,931 15,672 3,026 16.180 19,206 11
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Investmonls Unrestrfclod Unrèstrfeted funds funds 2024 2023 Interest rec*ivabl8 723 Other Incomo Unrestrlcted Unrostrlcted funds funds 2024 2023 Compènsation for 8¢¢ount closure 500 Ral8lng funds Unrostrlctèd D•$lgnatod funds funds Total 2024 Total 2023 Fundraisin Adv8rtislng Cost of raising funds and ublici 2.000 2,000 315 315 315 Fundraising and publicity 315 2.000 2,315 315 315 2.000 2,315 315 12-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable a¢tlvltlo5 2024 2023 Staff costs (Note 12) Charity expenditure Event èxpéndituré lexcludlng staff) Projoct Costs 89,450 16.585 9.630 457 78.412 15,083 11,995 1,384 116.122 106,874 Share of support costs (s88 not8 10) Share of govemance costs (see note 10) 8,462 3.895 7,989 3,174 128,479 118,037 Unrestricted funds D8signat8d funds Reslrict8d funds 91,134 31.165 6,180 79,202 34,308 4,527 128,479 118,037 10 Support costs ollocatod to acllvltles 2024 2023 Rent Bookkeeplng Sundry Printing IT SolVar8 Govemance costs 830 5,029 996 5,706 319 677 291 3,174 676 1.863 3.895 12,357 11,163 Analysed bet8n. Charitable activities 12,357 11,163 11 Trusleos None of the Trustees (or any persons connected with them) received any remuneration or benefits from th8 Charity during the year.12023: None) 13-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employèès Number of employees The average monthly number of employees dung thè year was: 2024 Number 2023 Number Employment cost8 2024 2023 The costs of employing the above persons durlng th8 year were: Wag8s and salaries 89,450 78,412 There ar8 no employees who received total employee b8n8flts of more than £60,000. 13 Taxatlon The charlty Is exempt from tax on income and gains falling withln section 505 of the Taxes Act 1988 or section 252 of the Taxation of Charg8ablÈ Gains Act 1992 to the extent that these are applled to its cherltable objects. 14 Tanglbl• flx•d a8i•t• Fr••hold l•nd A•*•t• und•r and bulldlng• con•tructl•n Motor v•hl¢l•• T•tsl Co•t At 1 April 2023 Addltions 768.465 7,500 775.965 20,379 20,379 At 31 March 2024 768.465 20,379 7,500 796,344 Depreclatlon and Impalmi•nl At 1 April 2023 Depreciation charged In thè year 7.052 112 7,052 112 At 31 March 2024 7,164 7,164 Carrylng amount At 31 March 2024 768,465 20,379 336 789,180 At 31 March 2023 768,465 449 768,914 Assets under conslruction additions relate to costs associated with the ongoing Foxburrow Wood Enhancement Project. 14-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Stock$ 2024 2023 Finished goods and goods for resale 498 545 16 Debtorn 2024 2023 Amount$ f4lllng du• wllhln on• yoar: Trade debtors Other debtors Prepayments and accrued Income 1,230 2,820 2,816 959 3,775 7,594 17 Crodltors: amount8 falllng du• wlthln on• y•ar 2024 2023 Other taxation and social security Payments received on account Trade creditors Other crèditors Accruals 2,068 240 11,585 1,524 2,988 135 522 3,138 5,863 16,337 18 Rotlremonl beneflt sch•mo• Deflnod Contrlbutlon schemes The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the schèmè are held separately from those of the Charity In an independently administered fund. 15-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restrlcled fundi The income funds of the Charity include restricted funds comprising the followlng un8xpended balances of donations and grants held on trust for specific purposes.. At 1 April 2023 Incomlng rosources Resources At 31 March axpended 2024 Flora Group Wigwell Singe Wood Foxburrow Wood Gibbets Close Hill 30,741 39,377 260,460 64,768 375,000 30,741 35,029 260.460 62,936 375,000 (4,348) (1.832> 770,346 (6,180) 764.166 Provlou* yoar: At 1 Aprll 2022 Incomlng Resources At 31 March ro$ource¥ oxpended 2023 Flora Group Wigwell Singe Wood Foxburrow Wood Gibbets Clos8 Hill 30,061 43,672 260,460 680 30.741 39,377 260,460 64,768 375,000 {4,295) 65,000 375,000 (232) 334,193 440,680 {4,527) 770,346 16-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 D&51gnat•d funds These are designaled funds which are matèrlal to th8 Charlty's actlvitl8S. At 1 Aprll 2023 Incomlng Resourcos r••ources •xpondod Transfers At 31 March 2024 Forest Fair Gibbets Close Evenlodè Catchment Partnership Other 440 12,931 130.763) (2.402) 17,392 2,402 2,300 92,439 12,250 14,550 92,439 95,179 25,181 (33,165) 19,794 106,989 Prevlous yoar: Al 1 Aprll 2022 In¢omlng rosourcos R•sOu0* oxpendod Tran$f•rs At 31 March 2023 109,496 18.480 (34,3081 1.511 95.179 21 Unro8trlctod funds The unr8slricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have beèn sat aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2023 Incomlng rèsources Resources expended Transfor8 At 31 March 2024 General funds 136,598 82,417 191.449) 119,794) 87,772 Prevlous year: At 1 April 2022 Incomlng resources Resources expended Transfers At 31 March 2023 General fvnds 155,759 61,867 (79,517) 11,511} 136,598 17-
WYCHWOOD FOREST TRUST LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Anatysls of nèt assets belweon funds Unrnstrfctod Deslgnatod funds funds Restrlcled funds Total 2024 2024 2024 2024 At 31 March 2024: Tangible asséts Current assetsl(liabilitiesl 21,558 66.214 122,243 (15,254) 645,379 118,787 789,180 169,747 87.772 106,989 764,166 958,927 Unr•strlcted D•slgnated funds funds Restrlctod funds Total 2023 2023 2023 2023 Al 31 March 2023: Tangible assets Current asselsl{liabllitie$) 21,671 114,927 122.243 {27,064) 625,000 145,346 768,914 233,209 136,598 95,179 770,346 1,002,123 18