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2021-03-31-accounts

Report ofthe Trustees 1-26
Report ofthe Independent
Auditors		 27-30
Statement
of FinancialActivities		 31
Statement
ofTotalRecognised		 Gains IL Losses 32
Balance Sheet 33
Statement ofCash Flows 34
Notes to Financial Statements 35-60

Registered name: The Wildlife Trust ofSouth The Wildlife Trust ofSouth and West Wales and West Wales and West Wales Limited
Also known as: Wildlife Trust ofSouth and West Wales
WTSWW
Registered Charity Number: 1091562
Registered Company Number: 4398959
Trading subsidiaries: DWT (Enterprisesj Limited
Registered Ofgce: The Nature Centre
Fountain
Road
Tondu
Bridge nd
CF32 OEH
Vice- Presidents Barry Downes - end ofterm 2020
Richard Loosmore - end af term 2019
Denys Smith - deceased
John Gale —end of term 2019
Graham
Rees - end ofterm		 2018
Professor Lynda Warren - end ofterm 2020
Rob Anthony
-end		 ofterm 2021
NB
the
role of		 Vice-President is under review before further honorary
appointments
are made
Board ofTrustees
Chairman Mike Alexander Appointed chair 14-01-21
Treasurer Stuart Bain' Appointed Treasurer 30-01-21
Vice Chair Paul Culyer Appointed Vice Chair 30-01-21
Rob Pickford
Sally Weale
Mark Brian'
Rosey Grandage '
Shirley Matthews
Gillian Berntsen
Richard Payne
Tom Roberts

FOR T HE YEAR ENDED 31MARCH 2 021
Total Total
Unrestricted Restricted Endowment funds funds
Note funds funds funds 2021 2020
E E E E
Income and endowments from:
Donations
and legacies		 4&4,445 97,221 581,666 605,777
Charitable
activities		 251,538 1,547,499 1,799,037 952,4&1
Other trading activities 247,063 247,063 721,308
Investments 52,583 5,362 57,945 82,3&3
Other 23,389 23,389 48,723
Total income and endowments 1,059,018 1,650,082 2,709,100 2,410,672
Expenditure on:
Raising funds 8 118,389 43,097 161,486 242,305
Charitable
activities		 8 219,575 1,288,796 1,508,371 1,525,257
Other 8 238,229 91,195 329,424 677,240
Total expenditure 576,193 1,423,088 1,999,281 2,444,802
Net gains/ (losses) on 13
investments 91,967 (2,114) 89,853 (24,851)
Net income/(expenditure) 574,792 224,880 799,672 (5&,981)
Transfers between funds: 18 220,911 (220,911)
Net movementin
funds		 795,703 3,969 799,672 (58,981)
Reconciliation
ofFunds
Total funds brought forward 16,20 2,214,748 1,655,480 135,826 4,006,054 4,065,035
Totalfunds carried forward 16,20 3,010,451 1,659,449 135,826 4,805,726 4,006,054

2021 2020
E f
Surplus/(deficit) for the financial year 709,819 (34,130)
Unrealised gain on the revaluation of investment assets 89,853 (24,851)
Total gains and losses recognised 799,672 (58,981)

Group Charity Group Charity
Notes 2021 2021 2020 2020
f f f f
Fixed assets:
Tangible fixed assets 11 176,901 174,237 234,328 230,453
Heritage assets 12 2,011,972 2,011,972 1,886,972 1,886,972
Investment:
Quoted		 13 885,518 885,518 795,665 795,665
Unquoted 13 40 40
3,074,391 3,071,767 2,916,965 2,913,130
Current assets:
Stock 22,910 25,543
Debtors 14 624,015 631,288 423,316 548,237
Cash at bank and
in		 hand 1,510,456 1,438,490 1,058,101 819,532
2,157,381 2,069,778 1,506,960 1,367,769
Liabilities:
Creditors: Amounts falling due within
one year 15 (332,240) (253,448) (352,047) (231,653)
Net current assets 1,825,141 1,816,330 1,154,913 1,136,116
Total assets less current liabilities 4,899,532 4,888,097 4,071,878 4,049,246
Creditors:
Amounts		 falling due after
more than one year 20 (93,806) (93,806) (65,824) (65,824)
Net assets 19 4,805,726 4,794,291 4,006,054 3,983,422
The funds'of the charity:
Endowment
funds		 20 135,826 135,826 135,826 135,826
Restricted income funds 16,18,20 1,659,449 1,659,449 1,655,480 1,655,480
Unrestricted
income		 funds
Designated
funds		 19 550,000 550,000
Unrestricted
income		 funds 20 630,526 621,744 452,394 433,638
Fixed assets 20 1,829,925 1,827,272 1,762,354 1,758,478
Total charity funds 4,805,726 4,794,291 4,006,054 3,983,422

Note 2021 2020
E E
Net cash provided
by operating
activities		 472,666 (311,494)
Cash jfows from investing activities:
Dividends,
interest
and rents from investments		 49,883 82,383
Proceeds from the sale of property,
plant		 and equipment 1,467 5,725
Purchase ofnature reserve
Purchase ofproperty
plant		 and equipment 12
11		 (125,000)
)18,360)		 ~103.780)
Net cash provided
by/ (used in) investing		 activities (92,010) (15,672)
Cash flows from financin activities:
Repayments
ofborrowing		 24 (20,027) (19,199)
Cash inflows from new borrowing 24 91,726
Net cash used in financing activities 71,699 (19,199)
Change in cash and cash equivalents
in the		 reporting period 452,355 (346,365)
Cash and cash equivalents at the beginning ofthe reporting
period 1,058,101 1,404,466
Cash and cash equivalents at the end ofthe reporting period 24 1,510,456 1,058,101

Unrestricted Restricted Total Total
funds funds 2021 2020
E E 6 E
Membership subscriptions 282,030 282,030 320,825
282,030 282,030 320,825
Donations and gifts
Individuals 118,987 500 119,487 163,974
Appeals and events 20,366 86,972 107,338 42,909
Local groups 9,749 9,749 37,929
139,353 97,221 236,574 244,812
Legacies
A Gwynne 500
8 M Singh 4,632
I Herbert 15,000
M Howells 20,008
Dr W Howells 1,000 1,000
G0Smith 32,062 32,062
FSylvester 30,000 30,000
63,062 63,062 40,140
484,445 97,221 581,666 605,777

Unrestricted Unrestricted Restricted Total Total
funds funds 2021 2020
E E E f
Conservation and education
Charitable
trusts under 610,000		 2,297 2,297 10,500
Charitable
trusts over f10,000		 15,971 15,971 20,769
Dow Corning Foundation 22,660 22,660 16,600
The National Lottery Heritage Fund 352,899 352,899 144,686
Local Government 55,000 167,750 222,750 291,510
Moondance Foundation 35,000 35,000
The National Lottery Community
Fund 34,475 34,475
Natural
Resources Wales		 168,421 168,421 26,271
Other grants 5,500 5,500
PPL Foundation 69,664 69,664 72,980
RoyalSociety ofWildlife Trusts 12,000 60,309 72,309
The Waterloo Foundation 60,000 60,000
WCVA —Landfill Disposals Tax
Community Grant 9,363 9,363 39,999
WCVA —Third Sector Resilience
Fund 52,500 59,178 111,678
Welsh Government 356,879 356,879 133,435
Wildlife Trust Wales 30,000 30,000
Other
Coronavirus Job Retention
Scheme		 222,133 222.133
Income from nature reserves 7,038 7,038 195,731
251,538 1,547,499 1,799,037 952,481
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted Restricted Total Total
funds funds 2021 2020
E E E f
Fundraising income
Trading activities (see below) 247,063 247,063 721,308
247,063 247,063 721,308
2021 2020
E E
The Wildlife Trust ofSouth and West Wales L 114,205 78,644
DWT (Enterpdses)
Ltd		 132,858 642,664
247,063 721,308

2021 2020
E E
Profit and Loss Account
Turnover 132,858 642,664
Cost ofsales (43,361) (188,780)
Gross profit 89,497 453,884
Administrative
expenses		 (212,046) (310,994)
Other operating
income		 111,195
(Loss)/profit for the financial year (11,354) 142,890
StatementofChan
csin E ui
Balance brought
forward		 22,673 24,028
(Loss)/profit
and totalcomprehensive		 income for the year (11,354) 142,890
Distributions
to parent charity under		 gift aid (144,245)
Balance carried forward 11,319 22,673
Balance Sheet
Fixed assets 2,653 3,876
Current assets 104,477 269,882
Creditors: amounts
falling due within		 one year (95,811) (251,085)
Total assets less current liabilities 11,319 22,673
Called up share capital 40 40
Profit and loss reserves 11,279 22,633
Total equity 11,319 22,673

Unrestricted Restdcted Total Total
funds funds 2021 2020
E E E E
Investment income
Dividends receivable 43,906 5,345 49,251 57,998
Interest receivable 615 17 632 2,623
Rents receivable 8,062 8,062 21,762
52,583 5,362 57,945 82,383
INCOME FROM OTHER SOURCES
Unrestricted Restricted Total Total
funds funds 2021 2020
f E E E
Otherincome
Profit on sale offixed assets 90 90
insurance claim 1,835 1,835 1,640
Sundry income 21,464 21,464 47,083
23,389 23,389 48,723
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ANALYSIS OF STAFF COSTS,TRUSTEE REMUNERATION ANALYSIS OF STAFF COSTS,TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY AND EXPENSES, AND THE COST OF KEY
MANAGEMENT PERSONNEL
2021 2020
E E
Staff costs and trustees remuneration
Wages and salaries 926,748 1,005,660
Socialsecurity costs 56,940 68,156
Pension costs 22,616 25,736
1,006,304 1,099,552

2021 2020
No No
Fundraising and membership 5 6
Trading 10 14
Charitable activities 26 30
Administration 4 4
45 54

~Gr
~n		 d c~harit
Welsh Plant
Freehold Wildlife and Computer Motor
buildings Centre machinery equipment vehicles Total
E E E E E E
Cost
At 1April 2020 4,313 270,482 387,613 25,089 196,060 883,557
Additions in year 1,685 16,675 18,360
Disposals in year (48,573) (10,986) (55,193) (114,752)
At 31March 2021 4,313 270,482 340,725 14,103 157,542 787,165
Depreciation
At 1April 2020 1,724 222,302 281,416 23,029 120,758 649,229
Charge for the year 431 3,524 35,277 2,283 32,895 74,410
Released on
disposals (47,721) (10,986) (54,668) (113,375)
At 31March 2021 2,155 225,826 268,972 14,326 98,985 610,264
Net book values
At 31March 2021 2,158 44,656 71,753 (223) 58,557 176,901
Included in above
restricted assets 11,068 55,651 778 42,773 110,270
At 31March 2020 2,589 48,180 106,197 2,060 75,302 234,328

Freehold Leasehold
Nature Nature
Reserves Reserves Total
E E E
Cost as at 1April 2020 1,776,412 110,560 1,886,972
Additions 125,000 125,000
Cost as at 31March 2021 1,901,412 110,560 2,011,972
Included in the above restricted assets 148,678 100,000 248,678

Five year summary
Freehold Leasehold
Nature Nature
Reserves Reserves Total
E E E
Cost as at 1April 2016 1,776,412 110,560 1,886,972
Additions 125,000 125,000
Cost as at 31March 2021 1,901,412 110,560 2,011972

13. INVESTMENTS -Group and charity
UK
listed Shares in
investments
f		 subsidiary
E		 Total
f
Market value at 1April 2020 795,665 795,705
Revaluation 89,853 89,853
Market value asat 31March 2021 885,518 40 885,558
Acquisition
value at 31March 2021		 736,393 40 736,433
The Charity Total
Investment
Funds
f
Market value 31March 2021 885,518 885,518
Market value 31March 2020 795,665 795,665
14. DEBTORS
Group Charity Group Charity
2021 2021 2020 2020
f F. f f
Trade debtors 77,031 77,031 150,296 150,296
Grant debtors 537,385 537,385 260,458 260,458
Other debtors 9,597 12,562 6,791
Amount owed by subsidiary undertaking 16,870 130,692
624,015 631,288 423,316 548,237

Group Charity Group Charity
2021 2021 2020 2020
E E f f
Trade creditors 149,411 141,315 190,538 172,725
Taxation and social security costs 20,931 19,163 33,388 18,557
Bank loans 61,015 61,015 17,298 17,298
Accruals and deferred income 100,883 31,955 110,823 23,073
332,240 253,448 352,047 231,653
ontained
in deferred
income are deposits		 in advance
in		 relation to Skomer and Stockholm Islands
here the visits will take place during the 2021/22 financial year.
2021 2020
f f
Balance brought forward 91,418 103,678
Income received / refunds in the year (18,670) 152,194
Income released in the year (6,941) (164,454)
Balance carried forward 65,807 91,418

FUNDS OF THE GR OU P
Endowment Restricted General Designated Total
fund fund fund Fund
E E E E E
Funds brought forward at
1April 2020 135,826 1,655,480 2,214,748 4,006,054
Increase/(decrease) in
funds during the year 3,969 245,703 550,000 799,672
Funds carried forward
31March 2021		 at 135,826 1,659,449 2,460,451 550,000 4,805,726
Endowment Restricted General Total
fund fund fund
E E E
Funds brought forward at 1April 2020 135,826 1,760,708 2,168,501 4,065,035
Increase/(decrease) in funds during
the year (105,228) 46,247 (58,981)
Funds carried forward
2020		 at 31March 135,826 1,655,480 221,478 4,006,054

Balance Balance
as at Transfer as at
1April Unrealised between 31March
2020
f		 Income
f		 Expenditure
f		 gain/loss
f		 funds
f		 2021f
Restricted funds: Glamorgan
Betty Church
Fund		 40,650 40,650
Restricted funds: South & West Wales
Appeals and donations 253,360 87,472 (48,534) (67,297) 225,001
Castle Woods 8,465 8,465
Co-operative
Group		 9,626 (9,626)
Dow Corning 16,600 (16,600)
Emergency grants 302,978 (189,204) 113,774
Legacies 667,403 5,345 (14,763) (2,114) (57,703) 598,168
Local groups 63,452 9,749 (23,912) 49,289
Marine Wildlife Centre 6,880 94,267 (69,756) (28,612) 2,779
Species/Nature
Reserves		 237,497 490,910 (449,208) (16,678) 262,521
Skokholm
Appeal		 156,821 17 (170) 156,668
HNLF —Healthy
Reds		 50,983 63,732 (53,744) (26,597) 34,374
Welsh Government (PNCPA & ERDC) 5,930 356,879 (325,438) (24,024) 13,347
Restricted funds: Brecknock
Alit Rhongyr
Fund		 106,178 106,178
Batgroup 322 322
BRARG group 248 248
Otter group 5,165 5,165
Pwll y Wrach Fund 42,500 42,500
Other
Coronavirus
Job Retention		 Scheme 222,133 (222,133)
Total restricted
funds		 1,655,480 1,650,082 (1,423,088) (2,114) (220,911) 1,659,449

Balance Balance
as at Transfer as at
1April Unrealised between 31March
2019 Income Expenditure gain/loss funds 2020
E E f E E E
Restricted funds: Glamorgan
Betty Church
Fund		 40,650 40,650
Restricted funds: South &West
Wales
Appeals
and donations		 256,512 106,921 (110,073) 253,360
Castle Woods 8,465 8,465
Co-operative
Group		 10,869 (1,243) 9,626
Dow Corning 16,600 (16,600)
Legacies 694,399 29,985 (53,642) (3,339) 667,403
Local groups 65,506 37,929 (39,983) 63,452
Marine Wildlife Centre 18,200 62,504 (73,824) 6,880
Species/Nature
Reserves		 315,119 421,230 (498,852) 237,497
Skokholm Appeal 163,634 294 (7,107) 156,821
Waterloo Foundation 7,757 122,982 (58,416) (21,340) 50,983
Welsh Government (PNCPA (k 20,301 133,435 (147,806) 5,930
ER DC)
Restricted funds: Brecknock
Alit Rhongyr
Fund		 106,178 106,178
Bat group 322 322
BRARG group 248 248
Otter group 5,165 5,165
Pwll y Wrach Fund 42,500 42,500
Wild Communities project 4,883 (4,883)
Total restricted funds 1,760,708 931,880 (1,012,429) (3,339) (21,340) 1,655,480

Balance at Balance at
1April 31March
2020 Income Expenditure Transfers 2021
E E E E E
Asset purchase reserve 125,000 125,000
Matched funding reserve 100,000 100,000
Income support fund 100,000 100,000
Reorganisation and
development fund 225,000 225,000
550,000 550,000

General Designated Restricted Restricted Endowment 2021
funds funds funds funds Total
E 6 E E E
Fund balances at 31 March
2021are represented by:
Tangible fixed assets 66,631 110,270 176,901
Heritage assets 1,763,294 248,678 2,011,972
Investments 624,087 125,605 135,826 885,518
Current assets 432,485 550,000 1,174,896 2,157p381
Current liabilities (332,240) (332,240)
Long term liabilities (93,806) (93,806)
2,460,451 550,000 1,659,449 135,826 4,805,726
General Restricted Endowment 2020
funds funds funds Total
E E f E
Fund balances at 31 March 2020 are
represented
by:
Tangible fixed assets 124,060 110,268 234,328
Heritage assets 1,638,294 248,678 1,886,972
Investments 530,549 129,290 135,826 795,665
Current assets 339,716 1,167,244 1,506,960
Current liabilities (352,047) (352,047)
Long term liabilities (65,824) (65,824)
2,214,748 1,655,480 135,826 4,006,054

Bank Other
loan Loans Total
E E E
Less than one year 17,298 43,717 61,015
Between 1and 2years 17,298 17,200 34,498
Between 2and 5years 28,499 30,809 59,308
63,095 91,726 154,821

2021 2020
f f
Due in less than one year 1,340
1,340

RECONCILIATION
OF
ACTIVITIES		 NET INCOME/(EXPEN DITURE)
TO		 NET CASH FLO W FROM OPER ATING
2021 2020
E E
Net income forthe reporting
period		 799,672 (58,981)
Adjustments for.
Depreciation
charges		 74,410 69,265
(Gains)/losses
on investments		 (89,853) 24,851
Dividends,
interest and rents from investments		 (49,883) (82,383)
Loss/(profit)
on the sale offixed assets		 (90) (5,725)
(Increase)/decrease in stocks 2,633 17,316
(Increase)/decrease in debtors (200,699) (323,018)
Increase/(decrease) in creditors (63,524) 47,181
Net cash provided
by operating activities		 472,666 (311,494)
Anal
isofCash and		 Cash E uivalents
Notice deposits (less than 3 months) 1,460,456 1,008,101
Overdraft
facility repayable
on demand		 50,000 50,000
Total Cash and Cash Equivalents 1,510,456 1,058,101
kata'
f
td bt		 At 1April Cash New As at 31
2020 Flows Borrowing March 2021
E E E
Cash 1,432,544 77,916 1,510,460
Bank loans falling due within one year (17,298) (43,717) (61,015)
Bank loans falling due after more than
one year (65,824) 20,027 (48,009) (93,806)
1,349,422 97,943 (91,726) 1,355,639
At 1April Cash At 31March
2019 Flows 2020
E E E
Cash 1,432,544 (374,443) 1,058,101
Overdraft
facility repayable
on demand		 (28,078) 28,078
Bank loans falling due within one year (17,298) (17,298)
Bank loans falling due after more than one year (85,023) 19,199 (65,$24)
1,302,145 (327,166) 974,979

Total
Unrestricted Restricted Endowment funds
funds funds funds 2020
E f E f
Income and endowments from:
Donations
and legacies		 450,938 154,839 605,777
Charitable
activities		 195,731 756,750 952,481
Other trading activities 721,308 721,308
Investments 76,992 5,391 82,383
Other 33,823 14,900 48,723
Total income and endowments 1,478,792 931,880 2,410,672
Expenditure
on:
Raising funds 176,279 66,026 242,305
Charitable
activities		 578,854 946,403 1,525,257
Other 677,240 677,240
Total expendi ture 1,432,373 1,012,429 2,444,802
Net gains/
(losses		 on investments) (21,512) (3,339) (24,851)
Net income/(expenditure) 24,907 (83,888) (58,981)
Tronsfers between funds: 21,340 (21,340)
Net movementin funds 46,247 (105,228) (58,981)
Reconciliation of Funds
Total funds brought forward 2,168,501 1,760,708 135,826 4,065,035
Totalfunds carried forward 2,214,748 1,655,480 135,826 4,006,054