THE EUROPEAN NATURE TRUST
REPORT AND ACCOUNTS
YEAR ENDED 5 APRIL 2021

THE EUROPEAN NATURE TRUST
INDEX
Year ended 5 Aprfl 2021
Gend Informatlon
Report of the trustres
Aud*0￿5 Report
Strtem￿t offmanci21 actNiues
Balance sheet
10
Now to the flnan¢lal statEments

THE EUROPEAN NATURE TRUST
GENERAL INFORMATION
Year ended 5 Aprll 2021
(Chaymth)
Toby Aykroyd
David Elton
WIG8DY
Sdldton
EC*rf 4AY
6CRtedeTrè
2633 N*d¢r¥Th
WCL4 ILS
C Hoare & Co
37 Rerf S¢
EC4Y 18T
IIX11283

THE EUROPEAN NATURE TRUST
REPOR T OF THE TRUSTEES
Year end•d S Aprfl 2021
The Trustees present th*lr rewt alon8 wlth flnanclal s¢atements of the charfty for th¢ y¢ar fjnded 5 April 2021.
The ftr4Klal statements have been prepared In xcordance wth the xcoun¢lng poli¢¢es s¢t out on pages I l and 12
and ¢omply wlth the th¥ty's trust deed. the Charl¢les Act 2011. and the S¢aoment of R•comm¢nded Prardce:
Flnancknl Reportthg Standard 102 155ued on l January 2019.
Structure* 8overnanc•, and manas•m•Tht
The &ropean Nature TruK (TEND Is a rrust consdwted und¥ a trus¢ deed dated 21 Nov¢rnber 2CQI, and li
S￿red charlry. numbèr 1091283. The deed provldes for a m￿lmuM of B tnjstees. The TNs¢ees hav¢ seryed
durlns th• yw and slnce the year end are on pa8• 2, together wlth p¥dcularn of the Charlty's profession
adv15er5.
T￿ Trwteu meet regularly to a8ree the broad stratw and areas of activty for th¢ Tru$4 Indudln8 conilderatlon of
ant maklng revlewlns Invesrmen¢ polkt¢s and performance. The Trkbstees have as5e55ed th• malor r15k3 to
whlch the charlty ts exposed. In p¥￿¢￿Ilr thos¢ related to the ow4tksns and flMnce> ol the tharlty and are 5attsll•d
tha¢ I￿remI ￿ In place to ml¢l8at• thdr *yposure to the malor r￿ks.
Fln*ncln8
The chlrlry hu In •ndtswm•nt lund th• valu• ol whkh itood at £3.S48,411 as at 5 Aprll 202112020. £3.167.3711.
Th• •ndovm)•nt fund 15 provlded for Investment purpos•i. Th• Incom• ￿ern£•d from Investment of the fund
us•d to flnance the charlty's actlvltles. Income from th• Imst•d •ndowm¢nt fund Is all utdlsed for TENfs
adM1ntstrdr￿ running and overhead c05t5 thereby ensur￿ that 100% of donors. and partners, funds flow dlredy
Into prol•cr actfvlcle5. 1 P Morgan Bank Luxembourg S.A. ha5 b•en contrdtced to the Invesfftnr of TENTS
•ndowm•nt fund kn ¥ prudent ￿n￿r. Inv•itment Incom• g*neTrr•d In th• y•ar amounted to £84,622 {2020 -
£70,323).
Dur1￿ th• y•Jr, TENT recelved dlrec¢ ex¢ernal don8tbns arnguntknl ro £53,440 (2020 - £116M47). The thirly
applled don¢)rt' fund5 as well as funds from Its own Incom• $¢rnam for charItab￿ purposu. Projects and acthiltl
ftnanc•d durlng thé year are detalled below.
Ar the year-end the resetves amoun¢ed ¢0 £nll12020 . £nlll. Charl>ble empenthr￿r• and gtsv•rnanc• costs ire pld
aut of the unrestrltted fund. or In ¢he even¢ ¢h•¢ thls does no¢ ￿Ve 5uffkient fund5 there 1$ an expendab
endgwrnent fund whkh can be used to cover these cojts. Durlng the y￿r funds of £175,677 12020 - £0) w•r•
transferr¢d from the expendable endowment fund to the unres¢rS¢ted fund The adequacy of the reserves pollcy
rèvltw¢d annY￿ly.
Oblectlves and artlvltles for th• publlc b•n•flt
TENT iupports funds Inlthtl¥es chat prorece and restore wlld habltats In Europe. The Tnjstees focus thelr
ai¢fvl¢les In four geographkal areas.,
the preservation of old yowth forests and wlldlW* In the Carpathian Mountaim of Romankn..
re$toratlon and specles reIntrodUc￿0￿ Ired squirrel, wlldcat) ln1t1at￿es In the Scott15h H￿h￿ndS,.
11111 the prote¢clon of wildllf• irt tht Cantabrlan moun￿￿$ of Spain. wlth a focus on large carnlvores (brown
bear, woll, lynx>
{Iv) the protectlon ¢f wlldlwe In the Apennlne Mountalns ol ltsty. wlth a focus on the ¢rklcally endangered
Marskan bear.
In these areas the Trust works With dpnors and partner5 through Its core actMtles- trav81. cornmunkatloni, and
even¢$ - to support leadlng conseTr3tton projects that protect and enhance wlld habitats, protect andlor re-
introdu¢¢ wild anlmak and dellv¢r Social and economic benefts to local cornrnun￿es. They a150 fund youth
education and outrn¢h pr¢8rammes that enhantr vnderstandin8 of. and connection with. the natural worf

THE EUROPEAN NATURE TRUST
Yoar ¢nd¢d 5 Aprll 2021
Tnjstw. IAvln8 reprd to the pthli¢ benelk wl&nce by the Chvky Comrni5sion in accord￿£* wlth
secdon 17 of th¢ Chthrks Aa 201 l. conslder the purpose acts¥ltles ol dwlLy ￿ttsfy the requlr8monts of
the publk b￿¢￿t tex sec t)ur In sectlon four of the same *cL
Trustees. respOn￿bIlItIeS In r•latlon to th¢ Inandal Jtatements
The Trustees are responsible for preparirry the Tru5tees' report and the flnanrhl statemen¢s In K¢ordan¢e wlth
aPplic￿e law and Lknited KE￿￿)M A¢wuntirry Standar<k The Law applKable to dwlrles In En￿aTro and Wales
requires the trustees to preyr¢ finan¢AI sthtem￿ts for eath fwunCI￿ year which ts a true and Mr vlew of the
stste of affairs of th¢ ¢harlty and of the inC¢)Mi￿ resources and applicatx>n of r850urc•s of the Charlty for that
perlod In preparkn8 these tkndal sEatemen£% the rxustees are requlred to..
s•lert sultable accountiTr4 pulklts and then IF￿ th￿1 conskntenty.
observe the methoth and prwK*le5 of the Ch¥irlu SORP.
make ludgaments and ac¢oun¢mg ￿tiMate$ that are reasonablE and sKuden
sute whether Wkknle accounflry s(andw& h•ve been lollowed sub￿rt to any dEparurn ¢lsclos•d and
eXpl￿ned In the flnanekl Kat•ffl•￿ and
prw• the financial statements on th• ton¢•m buls unlem bt Is Irwwoprlth w pruum¢ thAt the
Charlcy wlll contlnue In bu5inou.
Th• Trustw arè re4)onslble for k¢epkng acco￿tI￿ r•cora dhdort wlth reaw4bh •¢¢uray th• fminc
posltlon of the charlty enabl¢ them to ensure that the fIrwic￿ sutemenrs coryly wlth the Charltles A¢¢ 2011,
the Chthty {Accounts and Reports) R¢8ulatlons 2(Th and the provisbons al the tN5t deed They are akn
responslble for safyrdlng the auety ¢rf the <harity and hEnce for rea%onaWe steps for the preventlon and
d¢t•c¢lon of frwd and other Irregul¥i¢14s.
ProJ•¢ts and Inltl•tlves
Dur*q the finarKknI ￿ 2021>21. Twf kn p￿k{Pa¢•d In th¢ followlng Inlthtlvu:
England
Educom.. Twf Is or8anulry Med￿ tr*$ to Cornwall In Sept￿thr 2021 to support th bwnl donq by th•
8¢a¥er TrusL wlll hlbllthr hWrI￿¢t b•av¢rs hw• In the W lan&ap• Ntjonal wat•r
Belkn. Rth%nue from the prothKtknn wll be dstrthurd r• looal NGO'& ard TAI aetyxt tourtsm to B¢llz¢
WI￿. TENT i% contrl>utin& to conserrdtlon recovery of the Scottish W￿d¢lL TENT wlll conthue ¢0 fund
tho hu5ban&y of the four wll(kats at AJI￿le Wllderness Reserve. wthich have now bred succe55fully. TEKf a150
supports the recovery of the red 5guirrel. and in the fvrure wll It￿k w hjnd and fundralse for more squlrrd
TENT has also ¢OnrrhU￿d £30.480 ro (The B* Plcturek a fe*tur¢ W dowmentatm
about the strte of the wld salmon popuhiion and d¢ythd rhv Cat¢hm￿tr. All of the pr<Keeds rwjed from
¢kket salES wdl be di5tr&uted to Scotdlh (h¥ttie

THE EUROPEAN NATURE TRUST
Y¢ar ended S Aprll 2021
Romanla
conser￿.. Workin8 WTrth its partner5 and through FundatR Con5Eryatbn Carpa¢hia {FCCI, TENT conttnues to
make 5i8nificant pro8ress toward5 its goal of creatin8'Tr￿ Yellowswne of Europe., TENT is playing a key role
$upporung FCC In their 8031 throu8h notworkin& fun(fing protects and fvndratsln&
Consfftth.. TE￿ t¢Mtinued to support the chartty Funth¢rOn Oso Pardo in ¢he Cantabrian Mountains of
Northom Spain.
Itafy
conseTh￿.. TENT continued ¢0 support the ¢h3rw Salviamo L'Or50 in Apennine M4)untalns of ¢tThtr￿ Itly.
Its focus Is on worklng to save the Marskan brawn bear from eXt￿ction.
oth
trlbtrtkns.. TENT has made 50me other $m￿ler one￿ff contrfoutlon5.
PAU
544 Ma

THE EUROPEAN NATURE TRUST
AUDITOR'S REPOR T
Year end•d S Aprll 2021
Oplnlon
We have audited the financial statements of The Eurnpean Nature Tru5r (the 'tharlry') for the year ended 5 April
2021 which comprise the statsrnent of financral activitle5, balantr sheeL and nows to the financlal ststements.
cluding a 5umm2ry of signrficant accounting policies. The ffinancial reportmg framework that has been applled In
their preparation is applicable law and United Kingdom Accounting Standards. Indudlng Flnanclaj Reporting
Standard 102 The FironcHI Reportw¢ S¢aDdard applicable in the UK and Republk of Ireland Iunlted KWM
Generauy Accepted A¢counthg Pra￿¢*).
In our opinlon. the finawKral staternents:
¥￿ve a true and far View of the state of the charlty'5 affair5 a5 5 April 2021 and of its kncoming resource5 and
applIctt￿ of resources for the year then ende¢*
hive been propwty prepared In accordance with United Kingdom Generally knepted A¢countin¥ Prac￿.
and
have been prepared In t¢￿rdar￿* wlth the requlrernents of the Charities Att 2011.
Baslg for oplnlon
We cOnd￿ted our audit in accordance with Internallon￿ SLandard5 on Auditing IUKI (ISAS IUKII and applicable
law. OJr Te5ponsib¢litie5 under those standard5 are further descdbed In the AudSrorfs responsthilltles for the aud
of the ffflancral statements sertion of our report We are Independent of the charlty Sn accordan¢e with the ethlcal
requirements that are relevant to our audit of the financial 5tstements In the UK. Includlng the FRCS Ethlcal
Stsndard. and we have fulfilled our other ethKal respon5(bilitie5 in accordance Wbth these reqUIrem*)￿ Wè Wleve
thx the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our ¢plnk*n.
Concluslons re]atln8 to 8oln8 conce
In audltlng the ffinancial St￿menty we have concluded that the trusTre's use of the 80in8 concern basls ol
accounting in the preparation of the fmancial statrments is approprkite.
Based on the work we have performed. we have not identrfied any material uncertainties relaong to or
condirlon$ thaL Individu￿lY or collettively. may cast SI￿￿1cant thubt on rhe charity's abillty to contlnue as a golng
concem for a period of at least ￿e1Ve months from when the financial statements are authorised for issue.
Our re5pon5ibiliues and the responsthilties of the tru5tee5 with respect to going concern are described in d
relevant $edons of thi5 reporL
othor Infomwdon
The other inforn)adon comprlses th¢ InforrrAcion induded kn the annual repor4 other than the finaftcial statements
and our auditor's report thereon. The tru$rees are responslble for the other Infomution. Our opinb)n on the
f4nan¢ial sutements d085 not cover the other Informatyon and we do not express any forni of assurance conclusion
thereon.
In cgnnettion with our audit of the financial $tarernent& our resPo￿￿111rY is to read the other information an4 in
doing 50. consider whether the other information is materrally inconsistent with the financial State￿￿nts or our
knowle* obtarned in the audit or Other￿Se appe￿ to be rna(erMlly mi55Uted. If we identfy 5uth rnaterAI
inconslsterKtes or Ipparent mater￿1 m￿SCalemen(s. we are required to det¢rmine whether there ts a material

THE EUROPEAN NATURE TRusr
Y•ar •nd•d 5 AP￿ 2021
mlsstat¥nent In the IbwKlal s0￿MentS or a mi5St•*rr*rf of th¢ wrformRtbon. If. based on the work
we have perforn*d we canckmk that there bs a Th*st•wnent <4 thi5 other infornMDw are requlred
ro report thac fatL
W• ha¥• nothkny to r8POrt kn thB r•prd
W• haw nothtr4 ro rewt In r**ert of the foloW￿ matterj In rqkntion to ttke (Accounts and
Reports) R¢8uWn$ 2tJ)8 rewh us to rwe w you il. In our opkn*in:
the Informathn the fth1nd￿ srat•merrfs b kn¢¢)nsknw m*t•rknl r•spart the tr￿tee$
lficlent accoundr¢ ha¥• not been or
w• n4x r•c•lv•d th• Inlornth ey•knratlons w• requh for our au
R••Pon￿bIlIt1￿ of trwt••s
A3 expl•lnod rnor• bjlly In the tnot¢u' r•%ponsd>iliLl# statunEnt sec ouc M p4e 4. the tntsteei are re5ponsibl•
for the pr¢paradon of the fin￿¢￿1 s¢•temenrs and for sausf*d that they *Y¢ a I￿¢ and (alr vlew, and for
such Intern￿ control as the rAu)tws deterfflkna kn n8cessary t4 enable the pr¢pra¢lon of fbncknl staternents that
In preparlng th¢ firAntht itatements. the ¢rus¢e•s are re¥pon5hle for a55e5sin8 the ¢harlty's ablllty to contlnue u 4
golng con¢ern, dls¢losh& 48 applkabk. mat¢ws related to corKern and u5ini the 8oln8 ¢on¢ern basts of
a<countynK unlus th¢ trustees elther kn¢end w liquldate the charliy or to cease opernrkn& or have no ￿￿[Stk
alternithy kn to do so.
Audltorfs r¢Jponilbllttl¢s lor thè audlt of thè stat•m
We have been appoknted as audrw under se¢cion 144 of the CtrArths kn 2011 and ryprt In accordAnc• wlth th•
A¢¢ and relev￿1 re•Jlarlons rrnde or hav￿ effect thweundor.
Our ob￿ctIVeS are to obtain reasonable assurance T•tyhets the fmanc1￿ 5taremenrs as • are free from
materlal m15stateff￿￿4 whether to fraud or error. and to 155ue an ¥Jditor's repprr that Indude¥ our oplnbn.
Rta5pnable assurance 15 a hi￿ leyd of a5suranc4 but i% not a pwanree that an audit ronth£ted 1¢Wrd￿ w
ISAA (UK) will alwap detect a material M￿tstement vthen it txIs￿ Mi55taternents caTh arise from fraud or error
and are wnsldered ma*ril rf. or in arn Co￿d reasonabty be expected to Influence the
IrrtyilarlDe4 are k4wices of rKffiwCoTrWl￿cÈ ￿￿$ and regul*tJoN. We desSgn procedurei In
Ilne with our reSPo￿b￿rtieI, outllned abov4 to detect rnater￿ m￿statements in re5pert of rylaritse5. includln8
frau& The extent to which our pr￿dureS are capable of detert1￿ irregularirie5, inchjd￿￿ fraud 15 detailed below.
We 8ained an under5tanolng of the I￿ and regvlatory frarn￿rk atglKable to the charity by coThsidering*
amongst other thin£& the sector in whth it cyerate5. and Considered the risk of acts by the charrty that were
contrary to applkable and I￿ul￿g fraud We dE5V￿ audx procedure5 to respond to the

THE EUROPEAN NATURE TRUST
Yw ¢bvl¢d 5 Apra 2021
a55e55ed level of ri5l but recognised that the risk ol not detectN¥ a Materi￿ M￿￿tement due ¢0 fraud ts hlgher
than the risk of not detecting one resuking from error. a5 fraud may wNol%r deliberarg ￿n¢t*1￿%￿l by. for
example. forgery or intentionl mtsrepresenuts￿fj. or colluskxL
We focused on knws and regulations wthKh could wve to a rnaterml rni55titrment in the lIn￿¢￿ sta[em￿ts.
IndudW￿ but not linited to the Charitits Art 2011.
journals and ￿￿Uating whether there was ￿ldeKe of bias by Ma￿err￿( that repre￿IEd a rlsk of materfal
rni55taternent the to frau&
There are inhereftt linit•¢#yu In the au¢%r proCe￿re$ descrèed akthe and the further removed n0￿cOMplIan
with laws and regulatyons ts from the ertnu and trar¥ait￿ refie¢¢ed in the fmancial statements, the less likely v
would bec<￿ aware of i We dld not Idthtfy kry auth¢ nut¢ers rthting to Irregularity￿ fraud
A further destttydon d our reswts*ilxres ftr the audk af the Ihwi¢d stttements is loated on the ￿nIn¢￿1
Reportlr¢ Counufs webstte ac tI•WW.fr￿￿a￿Kor$r¢￿mI[Ie$. Thls dtscrydon forms part crf our audknrf$
reporL
U5• of our report
Thi% report is rnade soldy to the charity's trustees. a5 a boty. in accord￿￿ with regulations rrAde under sethon
154 of the Chariue5 Att 2011. Our au&rt work has been unknaken so that we rnight srate to the charity's trustees
those matters we are re¢wired to state to them in an author's report and for Th) other purpose To the lu15est
extent permitted by ￿w, we do T￿t Xcept or ass￿ resportsbliry to any￿r￿ other than the and the
charity's tru5tee5 as a boty. for our auth for thi5 repo￿ or for the we have forn
D￿on Wi150n Audit LLP. StatLW Authtor
22 Chantery Lane
Lpndon
WCZ4 ILS
9 May 2022
Dixon Wiknn Auth Services LLP 15 to artas an audthr in terms of section 1212 ofthe Conymn￿ Aet

THE EUROPEAN NATURE TRusr
ST ATEMENT OF FINANCIAL ACTIVITIES
Year ended 5 Aprl 2021
Funds
2021
2020
53,440
84A22
1114
53,440
84,622
1114
116.847
70.323
3.463
Investrnenty
Total In¢om•
140,176
140.176
190.633
Éxp•ndltsw• o
Rthlry fun&
30834
37th9
34.799
Chth¢abl¢ a¢thlths
Y)9598
309.598 369.416
315*53
30134
346.687 404215
587351
587551 (105.623)
N•t (expèndltwe) I Inco
{175h77)
556.717
381,040 (319205)
175h77
(1751+77)
381M)
381.010 (319205)
R•condlts¢kn of fun
TO￿ fun& brouth¢foThvard at6 2020
Totsl fijnds urrbed forwvd at S 2021
1167371
3,167,371 3.486570
3,5ffl411 3.167J71
3348.411

THE EUROPEAN NATURE TRUST
ALANCE SHEET
At 5 A￿11 2021
2021
20211
Investrnents
3A64.455
3244.052
3W.491
3244.360
Cumnt *M•ts
Debtors
10
$0,475
71
20.475
121836
121319
143.311
I2314￿)
{Ii&owJi
3.548,411
(220.300)
{74989)
3.167.371
N•t ￿rr¢n¢ IlatrAlld•s
Total l•sJ IlablN¢i•¥
Funds
13
3.548,411
3,167.371
3.548.411
3.167,371
statemonts p•8•s 9 to 17 apwed by the Trurtees
br.
5 May 2022 <)n
PAU
10

THE EUROPEAN NATURE TRUST
NOTES TO THE FINANCIAL ST A TEMÉNTS
Y••r ondod 5 Aprll 2021
Accountlng pollcl
(a)
of prnparatlon
The flnanckll sra¢emen¢s are prepared under the hls¢orlcal cost COnvendo￿ with the ex¢eptlon that Investments •re
Includtd at market ￿Ut. The flnanclal staternenu hav¢ been prepared kn accordance wlth the Statement of
ReEomrnended Pracdce: Accountlng and Reportlng by Ch¥itles pr¢par4ng their accounts In accordance wlth rhe
Fin8nd￿ Repor￿￿8 Standard appllcable In the UK and RepubllE of Ireland {FRS 102) 15sued on l January 2019 and
the Chvltle5 Act 2011.
The trustconsdtyw • publlc benefit enthy a¥ ddned by FRS 102.
(b)
C•)ns0ll￿tl¢n
Consolldi¢¢d i¢wunts have no¢ been prw¢d a5 the tru5teu conslder that the results of th¢ subsldlary ￿dertakIn￿
Jr• fiot Mator1￿ eo tho you
(¢)
Fundi *tru¢tur•
The thwity has an eyyndable endowmert fund whkh cornprlses th¢ orlglnal donatlon plu5 th¢ subsequont cap￿1
apprec￿£1￿ on the Investmenrs wthln the fund. Investment maTha8?men¢ ¢h¥gw are CW a8alnst fund
The unre5tr1cted Income fund comprL%*i und15trtsutsd Income of the tharlty.
The trustw are free to uie l>oth fun& In accor&nEe wlth tk objects of th¢ charfty.
(d)
In￿m0 r¢co¥nltl¢n
All Income Is re￿8n￿ed once the charlty hu entltl¢mènt ¢0 ¢hè Intom4 ￿ li prcbabl• thit th• Incom• WMI b•
recelyed, and the amoun¢ of I￿oMe recefvable can be measured r¢lthbty.
Ck>rwtloni r￿fvable rtt0￿￿ed on the date that the trust kn andded to th• donadon.
Olvbdends and slmlhr In¢¢Jme are r¢co8nlsed rffj the dat• the trust bocomu •nthl•d to th• Incom& Intarnst Is
r¢cw159d on an acuuah bas15.
(•)
Expendlturn rn¢08nltlon
Llabllltles ¥e re¢o8nls¢d as ￿pendI￿re as soon as ¢h¢r• Is a lepl or ¢onstyu¢Lfve obllgatlon comrnltring the charlty
to that expendlture. It li probablE that settlerTKnt wlll b¢ requlred. and th¢ •moun¢ of the obllgatloD be
me•sured rellably.
All ¢¥p¢ndl¢ur• Is accounted for on an accnwls bul& All expEn5e5 Indudin8 5UPPOrt costs and 8overThan￿ ￿$ts
are alloctt¢d or w¢xtloned to the appllable expendi¢ure headlny.
Grants payable are re¢o8nlsed In the ftnancial sut¢menrs when a spe¢ffl¢ cpmmltmen¢ has been made ¢0 th*
reclplent and the charlly has reralned no dlscretton to terminate, or the grant ha5 been pald, whlchever Is the
earller.
(o
Irr¢w¥•rable VAT
Irre£0￿￿le VAT is ¢h•ryd as a cort aplnst th¢ a¢tfvlty forwhkh the expend￿Ure was Incurred.
(8)
Governa￿¥ Costs
Gov¢rnan¢e ¢05ts indude those C4Xts a$$0¢￿ted wlth nxrfing the ¢onsollthted and standlng requlrements of the
tharlty. Governance ¢osts relate to charitable attNltie

THE EUROPEAN NATURE TRUST
NOTES TO TH E FI NANCI AL ST A TEM ENTS {contin u•d)
Year wHl¢d 5 Aprll 2021
Accountlng pollclès (¢￿tInued)
(h)
Corts of r4l$ln8 funds
The c05rs ofgenerating fun& indude irwe5tmentrnan4em*K ¢oxs.
Charltable activities
Costs ofthari¢knle a¢¢i¥tiM I￿l￿de matk and governance c05ts a5 shown in fft￿e 7.
Fixed asset inTR5tments
5ted inve5unents are sutsd at market valu& Unli$ted invesrments are stated ac market Ydbje If thts can be rel
rnea5ured, OtherW￿e they are heh4 at £05t less irnpairm*)L
<k)
Flx•d ass•ts and dweciation
TanEible r￿ed a55ets are n￿aSured at cost less accumulated depretiatyon and any accumulated impairment losses.
DepreC￿￿on 15 provwled on tangible fbxed assets at the fomowing annual rate5 in ordv to Wri￿ off the cost less
estimated re5hdual valu4 of each asset on a Stra￿t-l¢ne ba515 over ir5 eype¢*d useful Ilfe as fol0￿.
Cornputer eqUIpr￿￿t- 3 year5
A￿111<d gains and lo5SéS
1 and losses are taken to the Statement ot Financial ACtNI￿ as they arise. Reallsed ard Unre￿ISed
vestm￿¢ gains and losses are comblned In the Statemen¢ of Fin3ncial Acuviiies.
(m) Taxatlon
The tharlty L8 exenyfrom raxarlon under setrlon$ 521 to 536 of the Inconp Tax Act 2007.
(n)
Financial instruments
Financi￿ ir4tsi¢ments are accounted for. ac¢orthrfg to the substynce of the Contracts￿ arrangemenk 35 financ￿ assus
and t)nan￿ Ilthll￿e$.
Donatlons and le8acles
2021
2020
Donathns recefved
53.440
I la847
53,440
116.847
I donation and legacy income in 2021 and 2020 reLited to the unrestricted fund.
12

THE ÉUROPEAN NATURE TRUST
NOTES TO TH E FI NANCIAL ST A TEMENTS Icontlnued)
Year qndod 5 Aprll 2021
Inv¢stmènt Incomo
2021
2020
IDtereston cash held as p¥¢ of the Invests7)ent portfolio
Interest on Apperley Prop¢rtles Umknd Preference shar
IT￿¢ from Ils*d Investments
78
631too
21544
307
03,000
7.010
84fy22
70.323
11 Invu¢ment Income In 2021 and 2020 related to tho unwtrfcted fund.
RoyAIty Incom•
2021
2020
N•tura Slbqrlk• royth
1114
3.463
2.114
3.463
Al royxky Income In 2021 and 2020 related to the unr¢strk¢¢d fund.
Ra1￿￿9 fundi
2021
2020
Publklty
Webske
Aq¢nts' fe
Inv•itrnert manapmont wirs
5,433
24.002
237
198
9,702
216
30.834
37,089
34.799
In 2021, £6255 rnlslni funds expen¢llture reknted w the unrestrlctod fund12020- Q5,097) and £30034 rqlat*d t¢ th•
expendable endowmerttfund (2020. £9,702).
Allocatlon olsupport costj and overt￿a&
The breakdown of support costs and how thest be￿ allo¢at4d bemen Governance and Chthtrble actMtle>
shown In th• tabh b¢lw.
Charl¢abl¢
8wls of
ttyp•
Staff ¢osts
Subscrlprk*ns
DeprKLitJon
4,342
1617
2n
1,086
Staff dm•
2n
7.231
1.086
&145

ThE EUROPEAN NATURE TrUST
NOTES TO TH E FI NAN CIAL ST A TE M ENTS {contin ued)
Year •nd•d 5 Aprll 2021
2021
2020
Grdrts for tharl¢•ble work.
FCC
Propark Wild KtnKdom
Beliie Ondude5'. FCD (Sudett Macaws}, CRC {Crocodlle). Bellze Uncovered
BelueJa8uar Project and'The Wlld Chris Morgan Podcast)
65163
33.395
31.428
34,410
IrKI.273
64.823
Supptytcosts auoc&ted wth pro* expendture and ryits:
Staff
Prfnthg. posta¥* and
Depre£latlon
Subscrlptkjns
3,256
82.788
1.120
In
3.110
2n
2,617
6.145
87.290
Protert expend￿.
Beaver Trust
Eco Touthm Prole¢¢
En￿rOnmen￿ Funderi Nthork
European Mammal Fountht
rope Project Other
bjropè ProS•ct Upnmr
Ev•nt expensq•
a FoundI￿On
Rfverwoods (The Blg Pl¢¢ure)
ROm￿kn Eduuthn &Js
Romants- Other
Royal Zoologkal Sodety
S￿vlI￿ L'orso
Scodand Pro5ert HOWL
Fundaclon Oso Pardo
Spaln CBD Parn LA Cor*4rttcl¢n
12300
7,5t70
1,500
1.295
6,490
53,44
3,450
30.
15mO
25234
13.6CII
22.490
28,157
34279
169.432
147J46
Soff costs
Attounrancy ftt5
Auditfee8
Admlnlsrd¢lon and wmpur•r 5UFPOrt
Bookkeeping and managernent fees
8ank <hryes and Intttest patd
27.S96
14.020
16.716
10.498
1.018
13.842
8.464
435
33.748
69.757
Totsl Charltable actmtlej durlng th•
309598
369.416
l ¢FArltthl¢ artfv￿e5 expendlwre In 2021 and 2020 rela¢¢d to the unrestrkted fund.
14

THE EUROPEAN NATURE TRusr
NOTES TO THE FI NANCIAL ST A TEMENTS (conrlnued)
Year ended S Aprll 2021
2021
2020
At 6 Awl 2020
3244052
291565
{lJ)l J431
730.181
3.725.549
IlQl.662
(1415.218)
(167.941)
3.244.052
Pwchase a¢ cost
Dispo￿ at car￿g￿￿e
AtSW2021
3.664,455
16291
1.44&162
1.639574
1.604.476
InV*strT￿ in S￿SId11￿5
3,664,455
3.244.052
UK a55ets
1.416505
1247,950
1575.002
1.669.050
3.664.455
3,244.052
JP Morgan Bank Luxwrbw SA
12162
1.416503
61
U￿r￿lSed 8￿￿￿1105$<5)
Real￿ gainsl{ktsses)
624.921
(37370>
(167.929)
62J06
$87551
(105.623)
orthnary sh¥e ¢apital and rryhs for £212020 . £21. The &rLry>ean Trnokng Conwry OFffite5 profe5sionaL
xientific and ¢ethnkal a¢u¥iw and made a £494for the year S ￿11 2021 (2020. £5(KJ10s5
15

THE EUROPEAN NATURE TRUST
NOTES TO TH E FI NANCI AL ST A TEM ENTS {¢ontln uedl
Year ended 5 Aprll 2021
Tanslblo fixed *ssets
Ipm¢nt
Cost
A¢6 Wl 2020
A¢5W12021
Oepr•¢latlon
At6 Aprfl 2020
ch￿ for year
A¢5W12021
N•t book value
816
816
816
816
2n
272
A¢SWI 2021
36
A¢ 5 Ap￿1 2020
10. D•btorJ
2021
2020
Other deb¢o
50,475
20,475
SO,475
20.475
Cr•dlton
2021
2020
TTrde credl¢or5
Amount due w subsIdl￿ and usoclatad uThlertakn8J
Other credltors
A<<ru•ls and def*rr4d Incorn
13J76
24J99
173J25
20.649
180.481
I Ih30
23&400
220,31JO
16

THE EUROPEAN NATURE TRusr
NOTES TO TH E FINANCIAL ST A TEM ENTS (contin uedl
Y￿r ended S Aprll 2021
dalmed and in the year to 5 Awil 2021 toolkd £nl Q020- £ral k the >p•r the L¥knce &Je frorn the Trustees
wa5 £2,66512020- Q6651.
At the year end the baEance tkn to N A V Lister set￿e￿ 1971 P A Ltsws *yo¥ifed (Paul
L￿ 15 a Trustee) £2W (1020. £2&0￿1
At the year end the ball￿¢ th ro N A V Lisw Ds¢ret*w set￿e￿ 1971 P A Horne's knd ￿￿1
Li%ter i% a Trustee) wa5 £89.48012020. £89.4801
At the y end the balance kn to the ANa&le e5t* was £37311 (2020. £372111 The A&&le estath is ovmed by
the ¥vra Lister 2Cfft No I Setdement (Paul Lister 15 a tyus*e
The own5 100% d the ￿&￿Y share rapM31 and ¥otY¥ r￿ Of The Eurq>ean Trading Company Ltd During
Tradin8 c￿ Ltd wa5 £20.649 (2020. Q4J991
harged rent to the Trust during the year to £10.4* (1020. 18.4641 At the yEar *)d the bakn¢e to
knmited was £nil (2020. £759).
The TTh￿t hold5 shres d £1.416503 in 4wley Prop•tr5 LtmKed *l*re Paul L￿er 15 a sh￿eholder.
The shares accrued interes¢ d £63.(w o(no . ts31WI the year. At the year the ba1￿ce th from
Limited was £91312Q20. £9131
Fund
Fund
3M4.491
3W.491
121320
Q38.4Q))
3548.411
IW20
112U20}
Current l￿bIlitieS
{116.0￿)
3548.411
assets at S W21
14 FlThandal asets and Ilabllltles
followby are fffwKial assets th* as basK Y4tyumenrs and are Init¥ty re¢ogDlsed a¢ thelr
2021
2020
3.664.491
SO.475
71*45
U44J60
20.475
122.836
Cash in hand
3.wll
3.387.671
17