Company registration number: 04398959 Charity registration nurnber; 1091562 THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED (A company limited byguarantee and not havlng any share capltal) REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Azets Audit Services Chartered Accountants & Statutory Auditors Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED Contents Report of the Trustees 1-24 Report of the Independent Auditors 25-28 Statement of Financial Activities 29 Balance Sheet 30 Statement of Cash Flows 31 Notes to Financial Statements 32-57
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 CHAIRMAN'S ANNUAL REPORT Sittlng down to write this introduction to my first annual report as Chair of WSTWW was a Ilttle daunting, However, having carefully read the Achievements and Performance below this soon gave way to real pride in what The Wildlife Trust South & West Wales has achleved over the past year. So, l am delighted to present this report to you. Please do take the time to look through it, The achievements are, of course, thanks to the hard work of our staff, volunteers and members, and this Is across all the teams: Conservation Support staff, Senior Managers, Nature Reserves team, ConseNatlon, Islands and Marine staff, and the Wilder Engagement team. The board of trustees has been taking some time to reflect on how we work and how we can develop in our role of 80vernance. A board effectiveness review facilitated by a consultant was a very posltive process for us to undertake. Perhaps a theme runnlng through the report is one of making connections. Enhancing and enlarging our reserves, working with partner organisations, linking with landowners, people and commu nities in ou r region, and all this work undertaken on very Ilmited resources. A testament to the passlon we all hold for our natural envlronment. Paul Culver Chalr
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and accounts forthe year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Cornpanie5 Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective I January 20191 OBJEcfivES AND AcfiviTIES The Wildlife Trust of South and West Wales Ltd is required by charity and company laws to act wlthin the objects of its Memorandum of Association, which are as follows: 1.1. For the benefit of the public, to advance, promote and further the conservation maintenance and protection of.. i. terrestrial and marine habitats and their wildlife. ii. places of natural beauty; ill. places of zoological, botanical, geographical, archaeological or sclentific interest; iv. features of landscape with geological, physlo8raphlcal, or amenity value in particular, but not excluslvely, in ways that further bio108lcal conservatlon. 1.2. To advance the education of the public in.. l. the principles and practice of sustainable development. 11, the principles and practice of blodiversity conservation. 1.3. To promote research In all branches of nature study and to publish the useful results thereof. Public benefit statement The Trustees have referred to the guldance contalned in the Charity Commissions, general 8uldance on public benefit when revlewing the Trust's alms and objectives and in planning its future actlvltles. In particular, the Trustees consider how planned activities will contribute to the alms and objectlves they have set. The advancement of environmental protection and lrnprovement is recognised as a charitable purpose and is regarded universally as producing a public good. The Wildlife Trust of South and West Wales exlsts to promote the care and protection of the environment and therefore provides a clear public benefit. Our philosophy is based on the belief that the natural world deserves conserving for its own sake and, since this 15 widely perceived to be a worthy aim of public policy, it may fairly be regarded as a benefit to the public at large, However, the public benefits provided by the Wildlife Trust 80 much further. Firstly, our nature reserves are used by the public, and many have access on way-marked routes. At many sites information and interpretation is provided to visitors. There are a few cases where there may be a conflict between management requirements and unfettered access, but where this occurs we strive to keep any restrictions to a minimum. Secondly, our education programmes are aimed at schools. colleges. adult groups and the wider public. Education Is also. of course, reco8nised as a charitable activity in its own right. Thirdly, our information gathering and provision of expert advice and opinion to local authorities and others helps to ensure that planning decisions are made on a rational basis taking full account of the public benefit of wildlife.
THE WILDLIFE TRUST OF SOUTH AND WESTWALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Fourthly, we can exert influence through our membership at local level, and nationally through our membership of the Royal Society of Wildlife Trusts and Wildlife Trusts Wales. It is also our belief that the involvement of many volunteers in our work provides an outlet for altruistic endeavour which is of special benefit to those invofved as well as delivering benefits to the wider public. Promotlng the enjoyment of the natural world is an Important part of what we do: contact with the natural world and the appreclation of wlldlife and wlld places provides great pleasure to many people and contributes towards wellbeing and health. Our nature reserves and activities are available to all and provision Is made wherever possible for people of a51 abilities and socio-economic groups. The objectlve of our tradins subsldlary, DWT (Enterprlses} Ltd, is to support the work of the Trust through the businesses of sales, island accommodation and large and special events. ACHIEVEMENTS AND PERFORMANCE For further informotlon on our conservotion ond research work, please refer to the reports found on our webslte.. We hl8hll8ht the followln8 achlevements for Aprll 2023 to end of March 2024 Hl8hll8hts from the nature re5erve$ A survey of the whole of the Gwernydd Pembrey SSSI assessed the populatlon of Water Voles followln8 our relntroductlon projert at Ffrwd Farm Mlre, NRW later confSrmed that Water Voles have been added as a supporting feature of the protected site, slgnlfylng the success of the project and the fact that there Is now sustalnable population. Nature Reserves Management The reserves staff have been busy Implementlng the Nature Networks fund {round 11 project across 39 of our nature reserves that are designated as SStes of SpecSal Sclentlflc Interest ISSSI). The work has Included desilting ponds, erectlng fencing, improvlng pathways and boardwalks, way-marking, buying tools and equlprnent and undertaklng woodland and grassland management and {along wlth some legacy moneyl, two new bird hldes at Telfl Marshes. The grant has facllltated Brazlng to be established on some more nature reserrfes by fundln8 the necessary Infrastructure, includin8 Llyn Fach in Neath Port Talbot. Our reserves tearn carrled out regular management and malntenance of nature reserves, ably sUPPOrted by our volu nteers. Work included: litter picks, infrastructure repair5, replacing boardwalks, installing benches and way-marker posts, cutting reeds and scrub to open up important habitats, planting trees and managing dangerous trees, copplcln8 trees and scrub for butterflles, stock checks and hedge laylng We also worked wlth contractors where fundln8 allows or where speclallst skllls or equipment is needed, e. for management of Ash dleback and repairing roadside walls. We work closely with Natural Resources Wales {NRW) In the management of our designated sites and have regular site visits with them to discuss management options and to seek the approprlate licences and permissions to carry out the work. We also work with NRW to secure section 16 management agreements wherever posslble to fund work on our SSSIS, although the funding avallable for SSSIS has reduced dramatically. Local Nature Partnershlp fundlng helped wlth capital works on a number of our nature reserves, for example fenclng and grazing infrastructure at Rhydyglyn, pond restoration at Carmel, and a grazln6 report to Infomi the management plan for Craig Cilhendre. all funded by the Carmarthenshire Local Nature Partnership. The Vale Local Nature Partnership funded a new tractor plus benches and interpretation panels, and the Brldgend Local Nature Partnership funded a new, secure tool store for Parc Slip.
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 A Local Places for Nature grant funded tree planting at Teifi Marshes rainforest in Pembrokeshire and linking habitats. Many of our nature reserves are grazed in order to provide the best possible habitat for wildlife. Each year grazing licences need to be reviewed and renewed to ensure that the habitat Is In or moving towards favourable condition. We are workin8 hard to get grazin8 onto nature reserves that need this style of management. and at Cors Goch in Carrnarthenshire, we finally have traditional-breed cattle grazing the habitat for the first time in decades. We delivered habltat management work for silky wave moth on our South Gower Coast nature reserve in conjunction with Butterfly Conservation as part of the national Natur am Byth project A round-up of the total staff and volunteertime spent managing nature reseNes shows: o Habitat management- 577.1 working days o Health & safety work = 86.3 working days o Invasive Non Native Species IINNSI work - 144.6 working days o Installing / maintaining infrastructure = 334.4 working days o Species survey / monitoring= 183.5 working days o Footpath / access malntenance= 232.3 working days extending the cover of temperate Research and monltorlng An Intervlew for the New 5clentlst was held at Telfl Marshes about the Impacts of rlver pollution on reseNe. Heather samples were taken from Dowro8 Common for the Great Fuel Moisture Survey. Brown hairstreak e88 counts were carrled out at Telfi Marshes In partnership with Butterfly ConseNation. Beaver feasibility site visits took place at Telfi Marshes and Llangloffan Fen with Nathan Walton, Adam Dawson and Alicia Leow-Dyke. Dormice surveyors developed a monitoring plan for 2024 at Pengelll Forest and we carried out Dormouse box surveys at Brynna Woods. Allce Chapman Conservation Officer, Is working with Reserves Manager Duncan Ludlow to develop and support a reseNes monitoring programme for the survey season. We had a donatlon for a biological report on the River Usk and catchments. We contracted Brecon Biodiversity Informatlon Service IBIS) to collate records of species and habitats and to identify where potentlal data 8aps may be and how we can improve data flow for freshwater species. We ran Great Crested Newt surveys at Parc Sllp in liaison with Network Rail. We input to the WCVA scoping project for a National Nature Service. National Botanical Garden of Wales collecting Wych Elm, Wild Service and Elder seeds from Pembrokeshire reserves for their M illenium Seed Bank project. Partnershlp work and networks Our nature reserves and reserves staff were part of several projects over the year including the Canals, Communities and Wellbeing Project in Brecknock, the LIFE 'Quaking Bogs, project {Dowrog Common) and the 4Rivers4Life project (Llangloffan Fenl. We supported Cwm Arian's 'Growing Better Connections, partnership project which encompassed our Pengelli Forest Nature Reserve. We attended various advisory groups, network and partnership meetings including Brecknock COnseation Advisory Group, Bridgend Green Network, Coppicewood College, and some of the Local Nature Partnerships and attended webinars including NRW/WG amendments to felling licence regulations. We organised Invasive Species training for WTSWW staff and partners through the WaREN INNS contract. Working in partnership with Butterfly Conseniation Wales and NRW discovered four new Marsh Fritillary sites within Ceredigion (three near Tregaron and one at Capel Cynon -EThv Fachl. Local Places for Nature grant - Ceredigion Swift project run for the Ceredigion Local Group -60 boxes have been installed in various locations in the county where swift5 are present.
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Advlte to other landowners Reserves staff provide management advice to other landowners whenever capacity allows, and thls year thls ha5 included advice to private land owners and a golf club, covering advice on managing ponds, wet woodland5, water lilies, pond creation and wildflower management. Dou8 Lloyd (WTO Ceredlglonl has worked with local landowners near Llanfair Clydogau, Lampeter, to survey land that is on the proposed route of a new set of power lines and pylons coming from another wind farm application (near Bryn Cadwgan but in Ceredigion - there are two further wind farms proposed in Ceredigion plus the power linesl. This area has now been shown to have another "new" Marsh Fritillary populatlon on the proposed route. 100.5 hours of advice given to landowners on 463.4ha of land. A total of 45 sites, 43 private and 2 community. Acquisitions and legal work Trellwyn Fach - site visit with Trustee Mike Davies and Reserves Manager Nathan Walton, and drafted a paper for RSWT and Conservation Committee, discussed at meetlngs, agreed to purchase, agreed sale price wlth estate agents, set up meeting with RSWT for next steps. To be completed in 2024-25, After a series of emails relating to our Redley Cliff nature reserve and the small track that runs alongside which Is not connetted to our nature reserve, options were considered by the Board and Trust solicitor. It was declded to sell the track and verges and over the last few months of this reporting period, worked with our land agent to prepare the papers. A number of our nature reserves are comlng to the end of thelr lease agreements so we are worklng wlth our 501icitor and land agent to renew the lease5 and are takin8 the opportunity to improve the terms where necessary. Network Rail have needed agreements with us to carry out varlous rall Improvements adjacent to Brynna Woods and Parc Slip and through Pwll Waun Cynon. Our land agent has secured a $106 agreement on this. Erw Fach, one of the new Marsh Frltlllary sltes In Ceredlglon is now under WTSWW management with a lon8- term agreement with the land owner. Nature Recovery and large-scale projects We met with the new owners of the Aberthaw power station. We have discussed the possibillty of takln8 on the management of the lagoons a8ain, and have input to ideas for mltigation and site improvements for wildlife on the site, Plans for riverside habitat restoratlon and reintroduction of Water Voles In the Vale of Glamorgan started wlth identifyin8 release site5 on the Thaw and workin8 With the landowners to get written consent. We also ensured all approprlate partners and collaborators remain Informed and Involved when the tlme comes. The plans then expanded into the Ely catchment and we secured a contract with NRW to start the process and produce a scoping report for that river system. We are working closely with SEWRT and INCC, and are being supported and helped by Kerry Rogers. The Vale of Glamorgan Local Nature Partnership's "Restore the Thaw" project funded by Nature Networks also includes elements contributing to our water vole relntroduction work in the Vale. In our Red Squirrels project work, we have conducted a deep analysis of our historical data in order to improve our understanding on population dynamics, reviewed the efficacy and eff iciency of the methodologies used to date, and developed a new strategy for how we take the project forwards. We are explorin8 all aspect5, from new monitoring techniques, technical analysis opportunities and volunteering opportunities to collaboration with academic bodies and other stakeholder5. We are grateful to the Carmarthenshire Local Nature Partnership for approving a two-year grant that contributes to the project costs. We are now looklng at additional fu nd ing opportunities, and are in the process of building a larger Welsh all-mammal landscape- scale project, that encompasses red squirrels, in collaboration with other thlrd sector conservation organisations operating in the wider RS project area.
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Pengelli Forest nature reserve is part of an arc of remnant Celtic rainforest fragments that run through the Gwaun Valley, towards Fishguard. We are developing a large4cale habitat project to expand, connect and restore the rainforest across this area. We had a meeting in December with partners organisations and landowners to discuss ideas and to explore how we could work together. The future purchase of Trellwyn Fach as a new Nature reserve will contribute to the aims of this project. Advocacy and Standing Up for Nature We have worked with our colleagues throughout Wales to input to the Sustainable Farming Scheme consultation and attended some of the local consultation events. We also attended a meeting with Welsh Government to discuss SSSIS in relation to the SFS and were pleased to have the opportunity to explain the difficulties in sourcing funds for managing designated sites, and to advocate for SFS support for SSSIS. We sit on the Technical Advisory Group Agricultural Advisory Group and the Rivers Stakeholders Group that are part of the West Wales Nutrient Management Board. The group has reviewed excellent research on the sources of pollution in the Teifi, Tywi and Cleddau but it is apparent that there is a lack of resources to deal WFth the Issues presented. Clyne Common - we have objected to a de-registration of the common, next to The Dranges nature reserve. Paul Thornton, Resenies Manager, worked wlth the Gower Society to prepare a statement for the public Inquiry. We were alarmed to hear about the Bryn Cadwgan energy park and wlnd farm proposal because it is in the middle of the most important woodland block for red squirrels withln the Red Squirrel project focal area. It is also adjacent to SACS and SSSIS. We are working with RSPB and an experienced planning volunteer to compile a catalogue of ecologlcal and soclal/cultural data In objectlon to the development and have met with the developers to discuss our grave concerns. Partnership work and networks We carried on working on the pllot prlorlty habltat management project in Ceredigion and North Carmarthenshire in partnership with ADAS and the Welsh Government, We are working with 11 landowners to advise on improvements to the management of their MG5 grasslands and teaching them how to monitor the changes. • Through a project with Cardlff North Woodlands we are developing a reduced network of tralls wlthin the SAC and 5SSI to reduce habltat dama8e and species disturbance. As part of this work we are liaising Wlth representatives from Breedon Group to discuss the ecological nuances of their quarry site at Garth Woods, and give them a better understanding of the project alms. We attend many of the Local Nature Partnerships Steering Groups. These groups are vital in bringing together local organisations with a deep knowledge of their area to plan nature recovery at a county-wide scale. We are also involved with projects that have arisen from the LNPS eg the Vale of Glamorgan 'Hedges and Edges, project and we attend many of the Nature Recovery Action Plan steering groups. We attend the Cardiff University ERBAP meetings: which is looking to move towards the University achieving biodiversity improvements. We also attended the Cardiff City Nature Network meeting, which is looking to map core zones for nature recovery in the city. Contracts We take on a limited number of contracts that generate income and help us deliver our strategy. This year through our contract work we have: Drawn up plans for a number of wildlife and food-growing projects for communities across Wales via the Keep Wales Tidy Local Pla$ for Nature Grant wildlife package community scheme.
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The delivery team (Nature Recovery Team} are now working with the Wilder Engagement Team to develop resources that can be provided to groups engaged through this scheme, and retain them within the Team Wilder system. o Contract work for Oxygen Conservation at Esgair Arth. nr Aberarth In Ceredigion- surveyed with volunteers for veteran trees and rarer tree species in this 5SSI small leaved lime, 8uelder rose, spindle, wild seNice. Site Is one of the best sites in the county for these species. o Through a contract with NRW for mink control on the Thaw and Kenson Rivers we created a database and map showlng opportunity areas, land ownership details, and monltorln8 raft locations. We also, liaised with la ndowners/farmers, and deployed 10 new monitoring rafts in various holdings. Flnallyi we collated a short final report a nd applied for a FRAP (flood risk activity permit). o Thlrd phase of our water vole work on the Thaw and Kenson catchments, Created/lmproved habitat on Cadoxton River and Cold Brook, including erecting 200m of fencing and 2 livestock gateways. We contlnued nurturlng and developlng new relationships with key landowners/farmers, as well as other key stakeholders such as LNP members and the 'Restore The Thaw, Project. We also continued our mink monltorin81control work throughout, and concluded with a reportlhabitat improvement vIeW. Hl8hllghts from ourTeam Wllder work Most of our Team Wilder work is delivered through grant-funded projed(s: Standfor Nature Woles Project (Cardlffl Students Started a ne5t-box monitorin8 scheme at Forest Farm, 12 boxe5 were occupied with built nests. • Youth forum members attended a youth campaigning event organlsed by WTW, and also supported the Urdd Eisteddfod in Ju ne. A 3 day Youth Summit was held in Llangrannog lat the Urdd Centre} with 84 young people atlendlng from across Wales. The summlt was a success wlth a varlety of workshops, guest speakers and wlldllfe activities. Next year's su mm it will be held in Cardiff, with a political angle. The Youth forum planned a campalgn raising awareness of rlver pollution In Cardlff and we helped organise a Senedd event where the forum met wlth MS, to talk about the wlder Wales pestlclde campaign. The forum designed a river pollution themed Christmas tree lo highlight their river pollution campaign at the Penarth Christmas tree festival. They won the silver award in the Charity Category. Linked to rivers, we organised rlver fly monltorin8 trainlng and otter surveyln8 tralnlng. Alex Griffiths (Wilder Engagement Officer) attended the Cardiff University Fresher's Fair, and has run a follow- up event for new forum members in Roath Wild Gardens. We attended the Chlldren's Rlghts Fest held at Cardlff Clty Football Stadlum - thls was a good opportunSty for networking, and to gather young people's hopes for nature in the city. We attended two planning meetings for the Cardiff LNP NRAP youth engagement workshop day. The workshop went well with seven schools in attendance, a mlx of primary and high schools, wlth good feedback for the action plan and good sixth form/high school connection5 for our Stand for Nature project. Stondfor Nature Wales Projert (Coostal Ceredlglonj Marine Conservation Project Officer, Laura Evans and our marine conservation interns, have organised and delivered events for the public which have ranged from beach cleans to climate cafes as well as attending external event5 such as the New Quay Carnival and "An Evening with Nature" One of our Marine Conservation Interns joined "Generation Sea" a youth planning group established by The Wildlife Trusts to develop the Trusts social media plan for National Marine Week. The theme was "young people In marine conservation". The Interns also asslsted wlth marlne specles surveys. training of and supporting of volunteers in biological data collection, and in the audit and analysis of specles data collected. Members of the Living Seas Youth Forum travelled to Porthdinllaen to team up with North Wales Wildlife Trusts, Youth Forum to collert seagrass seeds as part of Project Seagrass, restoration project.
THE WILDUFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 11 members of the Living Seas Youth Forum and two Interns attended the Stand for Nature Wales Youth Summit with Laura. Laura worked closely with the Living Seas Youth Forum to create and film content for the -stand Up For Our Future" documentary and to start the planning of the premiere events whlch will take place on World Oceans Day In June 2024. One youn8 person, Elllott aged 11, used Canva to create animations to feature In the documentary. These animations will convey scientific principles such as carbon storage in seagrass in a more dlgestible and understandable way. The group have also been workin8 on fundraising ideas for the events and the continuation of the youth forum afterthe end of the S4NW project. My Wild Cordiff Projert (Cardlffl Through the Cardiff LNP we have picked up the Green Walls and Volunteer Tralnln8 projects wlth the training programme organlsed from May to September. Alex has been contacting new and old schools for the green walls. An Orchard Course was run in March at Forest Farm as part ot the training project in the last financial year. Alex also ran 2 dormouse footprint tunnel sessions, three grassland ID sessions as well as pollinator ID session, and tree ID sessions Alex has been helping the Cardlff Local Group run practical conservatlon events in Cathays Cemetery and clearin8 invasives in Roath Wlld Gardens. He also ran a butterfly session for Cardlff Local Group at Cathay5 Cernetery. We ran the followln8 events: o A marlne-themed event at Red Dragon Centre alongslde an eco<raft sesslon. Thls was a good locatlon for attractlng dlverse audlences. o A stall at the Forest Farm Open Day {worklng wlth councll rangers team) and the Maes y Derl communlty day {workin8 wlth a housln8 association). o Ajolnt stall wlth Coed Caerdydd/Cardlff LNP at the Rhlwblna Eco Day. o A bat and moth nlght at Hlghflelds Allotment. o A bat walk at Cathays Cemetery. th The Unknown Wales conferen¢e17 October 2023) had -90 people attend In person and-15 people onllne. Nextdoor Nature Swansea Projert (Swansetij • Swansea LNP gave us just under £4k to dellver nature projects In Swansea; We engaged the YMCA Swansea In planting for pollSnators at Swansea Museum. The Uplands community group engaged resldents In Penlan Crescent and tO8ether planted wlldflower plugs and fruit trees {provlded by the council). We also held a Nextdoor Nature Celebratlon event at the Swansea Brynrnlll Cornmunity Centre Garden. We have been worklng wlth thls group to develop their garden area as part of the Swansea LNP work. We interviewed one volunteer, whlch has been included In the celebration video by RSWT: htt www. outub watch-c8vwJvPlv7U&t-1735 Marianne ran a successful Welsh Language walk In Swansea and Is planning more Welsh language walks in the future. We attended the Chinese New Year festlval event organised by Chlnese In Wales Assoclatlon. • We had a site vislt to Townhill woodland project and wlll be running two survey training sessions with the group In partnershlp with Coed Lleol. • We had a change of staff this year, wlth Marlanne Evans starting In July. Marfanne has attended several Swansea LNP meetings and events, and Is bullding a good network of contacts through this partnership. Education Catherine Lewis (Wlldllfe Education Officer) has been running weekty hollday wlldllfe sessions/club at Cadoxton Ponds and regular work parties for volunteers. We also hosted a Bumblebee Conservation Trust ID sesslon for volunteers and found many brown-banded carder bee speclmens and some interesting cuckoo species (collected for further species ID}.
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Paullne Hill {People and Wildlife Officer) has started a Brecon Wildlife Watch group which will run In school holldays, in partnershlp with the Brecon Library, following a successful launch event in July. We have delivered a water vole suNeying training session at Cosmeston Lakes on behalf of the Vale Restore the Thaw project, including producing a survey guide forvolunteers. Core Wllder Engagement Work We attended events to bulld contact5 and attended meetings across South and West Wales with potential Team Wilder Groups. There are a lot of communitles and young people interested in wildlife and wlldlife/environmental action in Carmarthen and the surroundin8 area so we would like to find funds for a Team Wilder Offlcer In the area. We attend meetlngs wlth other Wlldllfe Trusts to look at best practlce, and how to measure and monltor our Impact wlth Team Wllder. We ran 3 women-only events with GROW Cymru for October, a session with YMCA and Welsh-language nature walk wlth Menter lalth Abertawe In November. • A few elements of Green Connectlons Powys project were carried on past the end of the project; eg Introducing school puplls to Wern Plemys through the medium of Welsh. This was followed up with some creatlve wrltlng In class. • Swlft boxes are being put up on Bullth Wells Flre Statlon and Brecon Leisure Centre. The Brecon Swlft Group Is plannlng an appllcatlon to LPfN fundlng for more swlft boxes, callers and contractors to put up the boxes. This will be part of the greater project for the Brecon Gateway to Nature project funded through thls grant. Wlld In Ystradgynlais (LPfN) ha5 funded access and engagement on Ystradfawr Includlng walks to introduce the reserve to new groups, one In Welsh, and hopefully engage a few new volunteers wlth a taster sesslon We have 12 actlve Local Members, Groups around south and west Wales, some are speclal-lnterest groups such as the Aberystwyth Botanlcal Society, or the Friends of Skokholm and Skomer, and olher are based on an area such as the Cardlff, Swansea and Brecon Local Groups. More Informatlon on each of the groups and contact detalls can be found on our website: The Wll les wel hwil .or They all run a programme of events Includlng talks and guided walks, and some groups such as Cardlff, run practical conservatlon work parties. We are 8rateful to all the Local Groups for extendln8 the reach of the Wlldlife Trust Into local communltles and encouraglng more people to take an actlve Interest in wildllfe. Hl8hll8ht$ from our Llvlng Seas work Our marine residential volunteering schemes continue to be hugely successful and oversubscribed thanks to the dedication and organisation of our staff who make It happen. Skomer welcomed 152 volunteer5, Skokholm 24 and Cardigan Bay Marlne Wlldlife Centre 117 volunteers. Across marlne and Islands that equates to a massive 19,572 hours of volunteer Involvement during the 12 month perlod. The marine team continues to represent the Trust and deliver a significant percentage of our people engagement actlvity. Over 15,000 visltors came to our visitor centre in New Quay, over 24,000 people vislted Skomer and Lockley Lodge and 370 stayed ¢)verni8ht on Skokholm Island. • The Kittiwake colony counts that staff carried out at New Quay gave us a chance to check out Cardlgan Island but we were concerned by the lack of Lesser Black Backed Gulls. WTSWW staff also completed the seabird cliff-count5 on Midland island for NT Cymru. A CBMWC intern represented the marine team at the Wildlife Trust Federation Conference, and interviewed CEO CralB Bennet on sta8e.
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Floating Offshore Wind project Erebus has been delayed by l year, after the company responsible declined to bid for a government licence but we dealt with requests for engagement and comment from two offshore FLOW developers. Lisa Morgan (Head of Islands and Marine) contributes to several federation wide marine renewables working groups, including floating and tidal development and comments on all asperts of planning in the Celtic Sea from cable impacts to environmental monitoring plans. We attended a meeting with RSPB about the new Biosecurity for Wales project (grant funded by NNF Round 21. This is being led by ex-WTSWW staff member Sarah Kay-Purdon and we are a delivery partner. The projert now covers seabird SSS15 as well as SPA'S and will involve St Margaret's and Cardigan Islands in this second phase. The conservation detection dog visited Neyland to check Skokholm work-party boat and Skomer barge. Lisa became the team leaderfor the Haverfordwest hub. We were part of the Pembrokeshire Marine Code review meeting in Pembroke Dock. We contributed content for island maps and general seabird, seals and wildfowl and waders code. This will be useful in light of the increasing number of queries and complaints coming in about marine recreational activities; includin8 coasteering and eco tour boats swimming with puffins. In late March 2023 we found out that our Nature Networks Fund Round 2 marine bid had been successful. Lisa Morgan and Sarah Perry worked on the £560k application that wlll fund much of our seabird and cetacean monitorin8 and research work for the next 3 years and grant delivery 8Ot underway in April 2023. Year I projerts Included Improved biosecurity at Lockley Lodge, speclallst boat klt for our island and CBWMC based staff, boat servicing and storage improvements. NNF2 Grant funding allowed the Marine Conservatlon Team to add acoustic monitorlng tethniques for Bottle Nosed Dolphin to their existing photo-ID work, the only project of its kind in Welsh waters. The grant covers boat time, acoustic deployment, staff and researcher time and interpretation and education activities linked to the project. • At CBMWC, we delivered weekty education sessions for the Nurture Group at Ysgol Uwchradd Aberteifi, focused on species including dolphins, sharks and seabirds. The sessions were also developed to allow the young people to improve essential skills such as literacy, numeracy& problem solving and teamwork. The team delivered 9 weekly sesslons for the Year 7 Nurture Class111-12 year olds) covering various climate change in the marine environment themed topics, A Marine Conservation Intern was involved with the plannlng and dellvery of an event at the Senedd in November 2023, as part of the project wide pesticide campalgn. She was responsible for designing the event invitations, which were distrlbuted to all members of the Senedd, and in the planning of the event, travelllng to Cardiff to meet with other project staff and youth forum members. The group held a drop-ln session to discuss our pesticide-reduction initiatlve with Members of the Senedd in the Pierhead building, In March 2024 the team welcomed a new marine conservation intern to the staff team based at CBMWC. The internship will provide a paid opportunlty for a young person to receive training, and to increase thelr skills and knowledge to become the next generation of marine ecologists, conservationists and environmentally conscious aduhs. Blrd Flu/HPAI Lisa Morgan (Head of Islands and Marine Conservationl continued attending the regular Welsh Government HPAI approach group meetings. Lisa also attended the first WG Seabird Emergency Expert working group- set up as a result of the Black Headed Gull mortality events in north Wales, We also shared information with other sites, eNGO's and universities. During the season we worked with partners to develop a protocol for dealing with any bird carcasses. There was no government/ NRW fundin8 for PPE or any commercial arrangements for carcass incineration and no legal means to dispose of carcasses. We attended a training session held by Animal and Plant Health Agency, with island wardens so that we are competent to take Swab samples from dead birds for PCR testing and have test kits on both islands. The situation continued to deteriorate in North Wales with mass mortality rising in Black headed gulls and terns and some RSPB sites were closed. io
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 • Over a 3 week period from 8 July the number of Guillemots collected by the local authorities alone was 1.060 for Pembrokeshire and over 500 for Carmarthen5hire. After a small number of Gannets tested positive on Grassholm in late July, no further deaths were reported at the colony and no report from the Manx colonies. We put out a joint press release with PCC and other eNGO's and recorded a piece for BBC World service 'Sclence In Actlon,. • The Seabird Emergency Response Group was stood down by Welsh Government at the end of the breeding season when most birds would have left colonies, It was dlfficult to Judge the Impact of HPAI when our seabirds returned because of the terrible weather In March. A couple of guillemots have washed ashore live, but likely a result of the rough weather. By the end of this reporting period, HPAI prevalence in the UK was low but there are some signs It Is still present with the recent death of a Peregrine and a Herrlng Gull on the Farne Islands from the sub type H5N5, $0 we still need to be vigilant. Hl8hli8hts from Skomer and Skokholm Islands Skokholm hosted an Alder Flycatcher (an Amerlcan passerlne dropped In by the tail end of Hurrlcane Leel- first for Wales and just the third for Britain. Skomer recorded 142 bird species during the 2023 season. Cattle Egret and Glossy Ibls were both only second island records. Red-billed chough numbers hit record highs on both islands, 8 territories were conflrmed as beln8 occupied on Skomer Island and 5 on Skokholm. Llsa Morgan gave a talk about the work of WTSWW on the Islands to an open meetSng of the Dale and Marloes peninsula Wl group. Around 30 people attended. We hosted NRW visitor experience mana8er, Stephen Richards-Price on Skomer for the day to look at revamplng the vlsltor centre and interpretation on the island. Thls was a con5tructSve day spent runnln8 through his previous audit and hearing ideas from staff. A plan will follow for work next year. We dealt wlth lots of calls and emails about stranded Manx Shearwaters during fledging season and spoke to several busine55es and campsltes about theSr Ilghtlng durln8 this period. We attended a stakeholder meeting to discuss an increase in incidents of Grey Seal disturbance in 2023, organised by PCNPA and attended by RSPB/NT and the rural crlme off Icers from Dyfed Powys Pollce. Several Jolnt actions were agreed. We worked with NRW staff at the Skomer MCZ to remap new access restrictions in Skomer North Haven, to protect the growin8 colony of Gulllemots here. Marlne Code maps have now been reissued onllne, printers are making signs to 80 on marker buoys on the water during the summer and the MCZ team have been engaging with local boat companies and fishermen to inform them of the new voluntary codes. • A grant application to Friends of the PCNP for £1,200 for new optics for our long-term volunteers on Skomer was successful. The equipment now bein8 used on island. We took our Monitoring Officers from NHLF to Skomer for the day (accompanied by Craig Bennet and Sarah Kesselll and were able to tell them about our grant funded work, the issues we face and plans for the future, We experienced higher than average no-sail day5 in both Julyl41 and Au8UStI6} with 6 from the 9 available Saturdays cancelled. Activities and events held on Skomer included: o Guided walks Inon residential}- fully booked all season- 2 cancelled, 6 successful. o Welsh Learnerfs guided walk (non residential) I cancelled, I successful Shearwater Week- sold out 3x2 night Stays. o Yoga retreat- excellent feedback received 2x2 niEht stays- sold out o Young Birders Week - sold out with two groups staying for 3 nights each. Subsidised by the Nature Networks Fund and Pembrokeshire Bird Group. Black to nature - this event was also well received by the group and the 3 night stay on Skomer well organised by Ceris. Accommodation and travel was subsidised by the Nature Networks Fund. A residential visit by Avon Wlldlife Trust with excellent feedback li
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Skomer closed tor the season on 30 September- a qulck tally gave us roughly 23,400 day vlsitors in 2023 and just under 1,000 over-night guests. The Skomer Annual report and Bird report for 2022 completed and published on our website Th Wildl. 213 8rey seal pups born on Skomer by start of October, 10 more than the same time last year. Sadly, we were informed that because of budget cut-backs, NRW is withdrawing funding for our Seals monitoring contract, whlch has been going since the 1980$. We had a follow-up meeting with Skomer MCZ to discuss options for minimal monitoring of a sample sites, but this has capacity lrnpllcations for staff with no additional recruitment posstble without the grant. We also explored the involvement of 'year in industrf students from Swansea Universlty to assist with scaled back fieldwork. We had a number of meetln8s wlth JNCCIBTO and internally wlth Unlversity of Gloucestershire about the Seabi¥d Monltorlns Programme and Skomerf5 ongoing Involvement as a UK Key slte and secured addltlonal funding to ensure our costs are fully covered. Bulldlng Recognltlon of our Role: • We attended the Urdd Eisteddfod (Llandoveryl to hlghll8ht our conservatlon work, research, volunteerin8 actlvlties and to engage wlth a younger audlence. We were the only nature / conseNatSon organisation at the event. We attended the Royal Welsh Agricultural Show In Builth Wells to raise the proflle of our Trust, promote mernbershlp, wlldlife friendly gardening and lo campalgn for a wilderfuture with the other Welsh Trusts. We meet regularly wlth other Trusts In Wales to coordinate our communications and campaign work and to share best practlce. All Welsh Trusts supported the Agrlcultural Bill and Members of the Senedd were Impressed with the 3000 signatures generated In a week. We also support UK Wlldlife Trust campaigns such as the 'No to Neonlcs, campaign. • The 30 Days Wild Campalgn was very successful and we have recelved our hlghest number of sign up's at over 4,000, includlng 390 schools. The NHS partnership was new for 2023 and they supported the campalgn from a national perspectlve. Parc 511p was awarded wlth a Green Flag People's Cholce Award at the vlrtual ceremony. Thls was voted by members of the publlc. We worked wlth Valleys Reglonal Park and Brldgend Councll on thelr promotional campalgn whlch Included Parc Slip. • We represented the Trust and attractions at the Vlsit Wales South West Wales Tourism Forum meetings. • We developed a new standard WTSVWI Interpretatlon template destgn to Increase consistency wlth our reserve panel deslgns. Designls adaptable for indlvldual reser4e informatlon, maps and symbols. We developed and ctrordinated our monthly V5ww e-newsletter to an audience of over 6,LXX) subscrlbers. 52.7% of subscrlbers are women and over 70% of subscrlbers are In the 45+ age cate80ry. We launched our Skomer Island web camera appeal to ralse £5k to purchase new web cameras to allow online Ilve streamlng vla YouTube. We held a Wlld Words Poetry competitlon In partnership with BBC Radio Presenter and conseNatlonlst Dan Rouse to flnd out what nature means to our audlence, thelr experiences with nature, and why nature Is Important to them. There were 2 categorles - under 12 years old, and 12 to 16 years old, and the winner received a signed copy of Dan's new book. 12
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Over the course of the year we were mentioned in 1,110 media articles and we delivered the following: o Radio Intervlews: 4 TV Broadcasts: 89 o Local press: 186 o Regional press: 69 o National press: 65 o Web-based media: 613 o Features: 85 Some of our media highlights: o Wild Isles series launched on Sunday 12th March and featured Sir David Attenbourough on Skomer in 2 eplsodes. o Filming with lolo Williams at Melin Cwrt Nature Reserve. o A new series of Weatherman Walkin8 was filmed with Derek Brockway and Llzzie Daly at Parc Slip and Telfl Marshes Nature Reserves, S4C fllmlng at Teifi Marshes in August. o Lots of excitement and medla interest recelved regardlng the vlsltlng Waxwing's at Telfi Marshesl More S4C filming thls time wlth lolo Willlams at varlous vSWw locations- Llangloffan Fen and Skomer Island. Programme focus on effects on cllmate change on Welsh wildlife. o BBC Radio Wales recordings on Klttiwakes for thelr serles on Red Llsted blrds In Wales. Followers on our Facebook and X soclal medla accounts have remalned stable, but followers on Instagram have increased by 20% over the course of the year. Bilingual social media posts are doing well, and we had 15,000 views on our Deaf Awareness month post. Growin8 Our Resources We have been successful with several grant applications this year, several of which had a very short applicatlon window: • Two grants from the UK Government through the UK Shared Prosperlty Fund; one focussed on urgent work at the Welsh Wildlife Centre and one on the Islands of Skomer and Skokholm to help increase accessibility and help reduce our carbon footprlnt. These were lust startlng at the end of this financlal year and had to be delivered by December, so it was an interesting logistical challenge. The first tasks delivered were a new hot water 5VStem for Skomer North Haven and new battery storage facility for Skomer farm. Carmarthenshire Local Nature Partnershlp Is 8lvln8 £10,000 for two years towards our Red Squlrrels project, funding staff time and capital costs and capital work on nature reserves in Carmarthenshlre. The Powys Local Nature Partnership has funded work on the Brecknock nature reserves including a new entrance and cattle pen on Ystradfawr and to increase accessibilityto the nature reserve for a local school. The NLHF development grant started at the Welsh Wildlrfe Centre. Through the year funded by the project, we are developing a programme of capital improvements for the centre, surroundlng bulldlngs and infrastructure to improve accessibility and sustainability, and we are working with a consultant to engage with new audiences and seeking their input to the capital works and to changes we can make to our offer, in order to encourage repeat vlsits. For the first few months of the project we ran a tender exercise to appolnt the capital design tearn and the audience engagement consultant. We were accepted into the Habitat Scheme Wales that replaces Glastir in the interim period until the new Sustainable Farming Scheme is introduced. However, the funds through the scheme are only 30% of the funding we had from Glastir. 13
THE WILDUFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The first round of Nature Networks projects were completed and two projects in Round 2 received funding and were started: o The marine project focuses on the globally important populations of seabirds on our seabird islands and bottlenose dolphins in Cardigan 8ay. Our bottlenose dolphin acoustic research is the only project of its kind in Welsh waters. Using long-term acoustic recorder deployments we will determine the presence of dolphins throughout the day at 5pecrfic sites. Recording dolphin signature whistles will allow us to track individual dolphin movements at unprecedented spatial and temporal scales, inside and outside of the SACS. Simultaneous acoustic and photo-identification Surveys will provide behavioral, social and life- history data, providing valuable biological context for our acoustic detections. On the Islands we will undertake annual monitoring of the internationally important breeding seabird populations on Skomer and Skokholm Islands. The demographic data collected, including numbers, breedin8 success and adult survival will allow the statutory nature conservation agencies and Welsh Government to evaluate the condition of these colonies but also detect any changes in trends over the long-term. Our seabird projects on Skomer are considered best practice examples of monitoring and Skomer is one of only 4 kev sites contributing data annually to the UK Seabird Monitoring Programme. Data from the islands and our cetacean work in Cardigan Bay is made publicly available and is a vital source of information for the statutory nature conservation bodles when condition scoring features, assessing the imparts of marine development and tracklng the impacts of novel threats like Avian Influenza. The projects also offer an opportunlty to develop our growing volunteerln8 schemes and burgeoning youth engagement pro8rams, We are excited to trial new Ideas and facilitate the active involvement of under-represented groups in our work and have marine staff dedicated to our EDI vislon. • The grasslands project will fund direct improvements to 11 designated grassland nature reserves and will help us manage a network of 18 other grassland nature reSee5. Semi-natural grasslands are important for ecosystems 5ervice5, particularly connected with biological diversityi carbon storage, pollution control, cultural heritage and crop pollination. The grasslands in this project support a wide diversity of plant species such as Devil's-bit scabious, Dyerfs Greenweed, Whorled Caraway, Moonwort, Frog and Bee Orchid and invertebrates including Marsh Fritillary and Brown Hairstreak butterflies. Our grassland nature reserves are mostly close to local populations, so the project will allow us to make Ilnks wlth people not normallv Involved in 8rassland conservation. As an organlsatlon we are learning that increasing partnershlp type workln8 wlth grazlers rather than just letting the land Is the preferred way forwards- creatlng a network of livestock keepers land welfare checkers from the local communltyl who understand our aims, have the right livestock and are advocates for conservation and grasslands. Natures Networks 2 at Darren Fawr and Allt Rhon8yr -concentratin8 on Allt Rhongyr at the moment and carrying out habitat mappin& no-fence collars, fencing, and a change of grazier. We also had a good year for fundraising: o The Pen8elli Nature Reserve Appeal received over £25k in donations and wlth addbtional funds raised from the Ecological Restoration Fund, we had sufficient money to buy the extension to this nature reseNe. Unfortunately, the legal work has been severely delayed by the sellerfs solicitors and so we have not yet completed on the sale. o NRW put a freeze on their Nature Networks funding for NNR'S, which included fundin8 for the new remote cameras and live feed from Skomer. The whole team worked together to launch an appeal to raise the £4,5Crf) required to fund the urgent work and the appeal was successful. o We were also grateful to our major donors for their generous support and Sarah Kessell (CEO) was very pleased to bump into one of them when he visited Parc Slip. 14
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Managing Ourselves effectlvely The Board Effectiveness Revlew was completed. Several changes were made as a result, Includlng appolntlng an external. expert Chair for our Health and Safety committee and increasing the number of Trustees sitting on the committee, and setting up a Conservation Committee comprising of a Trustee Chair, Trustees and consepiatlon staff. One of the commlttees first tasks was to update the Reserves Acquisltlon Policy. Mike Alexander trained all conservation staff in the production of management plans to an agreed format and is mentoring staff as they update management plans for nature resetves. We have set a deadllne of 2027 for the update of all IO0+ management plans. Our project and financial management skills were commended by the NLHF team who consider us one of the rnost efficient organisations they work with. We are working with WCVA to gain an accredltatlon 'lnvestln8 in Volunteers, and over the course of this financial year met with our assessor and staff to carry out an audit and write an action plan covering all areas of working with volunteers. We have improved the Volunteering page on website and the volunteer sign-up process. The Tondu office had some refurbishment and our Finance Officer liaised with builders and bat experts. The bats have been protected to the satisfaction of the bat expert, and later bat counts proved that the populatlon was healthy. • The new membershlp database is now working well and we are focussing on added features that wlll help wlth recrultment, retentlon and managing donations. The Welsh Chalrs and CE05 have been meetln8 to discuss ways of worklng together more efflciently and effectively. We explored common problems with lack of capacity and reduced future grant funding and identified some priority areas of work. Each CEO signed up to leadin8 a Task and Finish group to investigate the prlorSty Issues and to develop some proposals for a way foard. Thls work was supported by staff from RSWT. Given the increase in mental health issues we had a staff training session with PAPYRUS on suicide prevention and awarene5S. Welsh Language - there are three levels of worklng 8roups that our staff attend: an Internal staff working group, and all-wales group and an RSWT-led group. Catrin Evans, Welsh lan8uaBe champion for the Trustees, chairs the staff and all-wales worklng groups. Work has Included.. o Reviewing Welsh language use on all reser¥e/lnterpretatlon s18ns, firming up the current Welsh Language'scheme, into formal pollcy o supporting Welsh language events and activities o establishlng a Welsh Language staff champlon and the champlon role As well as the formal work, the all-wales group runs paned a sgwrs meetings - casual meetings to use Welsh with colleagues and discuss Wales-wide policy. Carbon and livestock emlsslons data contlnues to be sent to RSWT vla a spreadsheet from which they calculate our carbon footprint each year. The figures show a downward trend, but it is difficult to compare data across the first few years as the spreadsheet is refined, and new data is added. It is clear that we need sIEnlflcant Investment In renewable energy In order to reduce our carbon footprint significantly, and thls Is a focus of our current grant applications. We continue to benchmark staff salaries and the employer pensions contribution against other Wildlife Trusts and have made progress in improving both so that they are in line with the average across the Wildlife Trust movement. This will help with staff retention and is important in valuing our staff for the excellent work they do. 15
THE WILDUFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 EDI Our EDI policy was approved by the Board. Rosey Grandage, our Trustee EDI Ambassador and Diana Clark (Executive Officer) are working through our policies to update them in line with our EDI policy. • A set of five foundational EDI courses were organised through the EDI team at R5WT and all staff and Trustees were signed up. The trainin8 Started in February 2024 and will be completed by October 2024. • The staff EDI working group continued to meet with Rosey Grandage to progress delivery of our EDI work. This year, thi5 has included events and activities with specific groups with protected characteristics, awareness-raising amongst the staff of specific groups, and a spotlight on case studies in our cornmunications. For example, a focus on hearing impairment and deaf people one month included signposting for staff to BSL courses, and a sign-language video by a Skomer visitor about his trip. Our Heritage Lottery Fund development project at the Welsh Wildlife Centre incorporates audience development work and we engaged a consultant to help us reach out to community groups that are not currently well represented at the centre. This engagement work will continue through 2024. FINANCIAL REVIEW The results for the year show a 8roup surplus of £497,531 (surplus £169,660 20221231. This is a good result showlng that we have to a large extent returned to more normal operations. Income Total income during 2023124 was £3.2m compared to £3.1rn In 2022123, Trading income has Increased 18% on previous year due to the openlng of the café in Tondu forthe summer. The islands has welcomed an increasing number of visitors to the islands, we generated over £400,000 of income from landing fees. Appeals, Donation and Legacies amounted have increased to £378,000 compared to £262,000 in the previous year. This is due to a successful appeal for Pengelli Woods and an increase in legacy income. Membership income has fallen slightly from £241,000 in 2022/23 to £235,000 in the current year Grant Income has fallen slightly to £950,000 compared to £1,208,000. It is still our main source of income. Expenditure Expenditure has decreased from £2.8m to £2.7m due to slightly reduced grant activity. Expenditure on charitable activities makes up almost 60% of total. • Trading expenses have increase to £893,491 as trading has returned to more normal levels Membership and fundraising costs have increased with increased costs of producing the membership magazine. Fund balances and reseThes At the year end, unrestricted funds increased to £4,Im and restricted funds increased to £1.6m. Endowment funds remain unchanged at £135,826. Total funds of the Trust increased to £5.75m. Tradin8 subsidlarles There has been an InCaSe in trading income at the visitor centres. But there are increasing costs of trading too so profitability is reduced at the WWC visitor centre, We reopened the Parc Slip visltor centre for the Spring and Summer but had to close in the Autumn due to staffing shortage5. The islands have seen increased overnight visitors and accommodation has been in great demand in the puffin season. As a result trading income in DWT (Enterprises) Limited for the financial year increased again to £789,000 from £590,000 in the previous year and generated surplus of £179.000, most of which will be donated to the charity. 16
THE WILDUFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Investment polity Funds will continue to be invested in low risk, interest bearing deposit accounts. Due to uncertainties we redeemed our Investment In the Charitles Property Investment Fund in a prlor year. These funds have been relnvested In temi deposits with varlous financlal institutlons. Flnanclal Reserves Pollcy The financial reseNes pollcy of the Trust is considered in the light of the main rlsks of the organlsatSon, There Is contlnuing risk to our 8rant income due to uncertainties in the future. Therefore we have set up a number of designated resee5 In order for us to support and develop the charttles actlvltles. In addltion we have bullt up our unrestricted resee5 in order to provide a buffer to enable us to continue our work over the short term rf we suffer a loss of grant Income. For a number of years we have been developing our strategy for Improvln8 the flnancial position of the Trust and build a level of unrestricted reserves to malntaln 3-6 months running costs. The Trust currently has reserrfes of £5.75m of whlch £4.Im are unrestrlcted reserves. We have free reserves of £1,586,645 (£1,258,681- 2022/231. Therefore, we are meetlng our reserve pollcy to build our unrestricted reserves to malntaln running costs and our focus Is to contlnue to develop our unrestrltted Income to improve and dlverslfy our buslness for the future. Rlsk Management The Trustees have examined the prlnclpal areas of the Trust's operatlons and consldered the major rlsks arlslng In each of these areas. In the opinion of the Trustees, the Trust has established processes and systems whlch under normal clrcumstances should allow the rlsks to be Identffled by them to be mitigated to an acceptable level In Its day-to-day operatlons. The major r15ks the Trust currently faces and mStl8atlon are: l. Avlan Flu- thls disease has had a severe impact on seabird Islands throughout the UK Including Grassholm, a 8annet colony close to Skomer and Skokholm Islands. Our Head of Marine and Islands has regular meetln8S wlth partners In Wales to dlscuss the on8olng rlsk and mltS8atlon measures, should there be a dlrect Smpact on our151ands. There is also a suggestion that the disease is startlng to affect marine mammals, so we are also keeping a close eye on the situation at Cardigan Bay Marine Wildlife Centre. 2. Ash dleback - due to the hlgh number of woodland nature reserves in our portfolio, this imported dlsease contlnues to pose a sl8nSflcant risk and flnanclal Impact and may impact on publlc access. Nature reserves have been sureYed and trees are belng dealt wlth on a rlsk-prlorlty basls. 3. Major Infrastructure-There are a growing number of major, renewable energy infrastructure projects on land and at sea that could severely Impact wlldllfe and staff resources, especlally as we don't have dedlcated plannin8 officers. PLANS FOR FUTURE PERIODS Our future plans are laid out in our Strategy 2020-2030 htt www.welshwildlife.or our-strate Over 2024-25 we wlll continue to build detailed plans for delivering our 10-year strategy. In particular we will: Build the digital tools needed to deliverTeam Wilder across our whole area. Develop the framework for ensuring our nature reseNes afe moving towards favourable condltlon by 2030. Continue to develop our landscape-scale projects, focussing on the Celtic Rainforest in Pembrokeshire. 17
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Investigate ways to reduce the carbon footprint of our visitor centres. Work with other Wildlife Trusts in Wales to improve our unrestricted income to grow our resources to deliver our charitable objectives. Continue with our EDI journey through training for staff and trustees and trialling inclusive events and activities. STRucfuRE, GOVERNANCE AND MANAGEMENT The Charity was formed from the merger of The Glamorgan Wildlife Trust Ltd Ire8lStered November 1961, Charity No: 200653) and The Wildlife Trust West Wales Ltd (registered May 1962. Charity No: 2279961. The Wildlife Trust of South and West Wales IWTSWW) was registered with the Charity Commission for England and Wales on 8 April 2002; it is a company limited by guarantee (incorporated on 20 March 20021 and governed by Memorandum and Articles of Association which were last amended on 14 September 2015. On I, April 2018 Brecknock Wildlife Trust (registered Oct 1964, Charity No,. 2396741, merged with The Wlldlife Trust of South and West Wales. The Memorandum and Articles of Assoclatlon gives the Board of Trustees responsibility for determlnlng the pollcles and direction of the charity, and to govern the affairs of the charity. The Board of Trustees are also dlrectors for the purposes of company law. As WTSWW'S governln8 body, the Board of Trustees is ultlmately responslble for the Trust's activities. It is directly accountable to the charit¢s members. The Board operates a sub-commlttee, the Finance Committee, which has delegated powers and acts as the Executive committee overseeing the runnin8 of the Trust, and has responsibility for detailed financial decisions and for making recommendations to the Board, whilst the whole Board is responsible for overall financial scrutiny. The Finance Committee reports to the Board after every meeting, which ensures complete transparency and full engagement of all Trustees in all decislons. The Chief Executive and Finance Manager also attend the Finance Commlttee. The Board of Trustees also receive reports from other commlttees: Health & Safety, Local Groups Forum, Conservation Committee, Islands Conservation Advisory Committee, and the Equality, Diversity and Inclusion group. There may also be a number of Task and Flnish Groups appointed as and when required by the Board who report directly to the Board. There are eight members of staff who make up the Senior Management Team ISMTI who also attend the Board meetings at the invitation of the Board. The SMT are responsible for the day to day management of the Trust. The majority of the Trust's work is undertaken by a team of staff, reporting to the Chief Executive who is accountable to the Board of Trustees for achieving VdTSWW's aims and objectives and complying with Trust policies. Arrangements for setting the pay and remuneration for the key management personnel and any benchmarks. parameters or criteria used in settlng thebr pay The charity has a Rewards and Remuneration Policy which details the 'total reward, approach under whlch all aspects of workin8 for the charity are recognised. Prominence 15 8iven not only to remuneration and tangible benefits but also to less tangible rewards which are important factors in employee engagement and satisfaction. The policy sets out the factors and approach for determining the salary levels of all staff. 18
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The key management personnel who make up the Senior Management Team are.. Sarah Kessell Margaret Drury Llsa Morgan Jon Cooper Gina Gavigan Dlana Clark Rhodri Irranca-Davies Megan Howells Bethan Hopkins - Chief Executlve Offlcer Finance Manager Head of Islands & Marlne Membership Development Mana8er Marketing Manager Executlve Offlcer Nature Recovery Manager Wilder Engagement Manager {resigned March 20241 - Wilder Engagement Manager {started Aprll 20241 The total figure for pay of key management personnel is in the notes to the accounts. Appointment, Induction and tralnlng of Trustees Trustees are nominated and appointed by the membership. All Trustees must be members of the Trust. The Board shall tomprlse of the Chalrman, Vlce-chalrman, Treasurer, who are all Trustees, and be made up of a mlnlmum of 6 and a maximum of 12 Trustees, The Board may also co-opt from time to time additional members possessing speclallst skills, knowledge or expertise, as ht thinks flt. Detalls of Trustees terms of offlce are lald out In the Memorandum & Artlcles of Association but in summary a Trustee shall not be eligible to serve as a Trustee for more than 3 consecutive terms of 3 years. The Chair shall be elected for not more than 2 consecutive terrns of 3 years each. At the Annual General Meeting one thlrd lor the number nearest to one thirdl of Trustees shall retire from office. The 21st Annual General Meeting was held online on Zoom on 16 November 2023. No new Trustees were appointed. Following the AGM, the Board of Trustees reappointed Mike Alexander as Chair, stuart Bain as Treasurer and Paul Culyer as Vice Chalr. During the course of the year Mike Alexander stood down as Chair and followin8 a robust Internal recrultment process whlch started In March 2024, the Board of Trustees appolnted Paul Culver as Chair and Rosey Grandage as Vice Chair in July 2024. As part of thelr Inductlon, all Trustees are Issued wlth the charlty's key documents: Memorandum and Artlcles of Association, Responsibilities of Trustees (Charity Commission), Code of Conduct for WTSWW Trustees, Annual Report and Accounts, Corporate Strategy, Trust staff and management structures, Trust policies and other documents and informatlon to enable new Trustees to gain a good understanding of the charlty and buslness. At the first meeting of the Trustees followin8 the AGM the Chairman reminds all Trustees of their responsibilities as Trustees and Dlrectors. Trustees attend 8-10 meetlngs per year, with occasional additlonal meetings and involvement with Sub-committees, Task and Finish Groups or ad hoc Working Groups as appropriate. Trustees also attend Development Days. They rnay also represent the Trust on other occasions. Trustees are offered the opportunlty to attend external tralnlng courses and Open Day events organised by Royal Society of Wildlife Trusts IRSWTI specifically for Wildlife Trust Trustees and staff. Since March 2020 the Board meetings have been held online on Zoom. Patron, President and Vice Presidents At the Annual General Meeting the Trust members may, on the recommendation of the Board, also elect a Patron, President and Vice Presidents, and they shall hold office for a term of 5 years and be eligible for re-election. At the AGM on 161h November 2023 no appointments were made. No honorary appointments are being made until the Board reviews the roles. 19
THE WILDUFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Related parties The charity has a wholly-owned active trading subsidiary. DWT (Enterprises) Ltd (Company No: 02702793). It also wholly owns a dormant subsidiary, Autumn Peaks Ltd {Company No: 032626901 It also operates three charities as inactive companies, Glamorgan Wildlife Trust Ltd (Company No: 00693495), Wildlife Trust West Wales Ltd (Company No: 00728044) and Brecknock Wildlife Trust Ltd (Company No.. 00824844}. In March 2022 the WTSWW Board of Trustees, following consultation with the Charity Commission, discussed working towards closing the 'parent' charities Glamorgan Wildllfe Trust and Wildlife Trust West Wales. This work continued in 2023124 and contact was sought with any remaining members of the parent charities to Inform them of the Imminent closure of those charities and to asslst thern to transfer payments to The Wildlife Trust of South and West Wales. The Charity Commission was kept Informed of progress. The Trust has a close relationship with the other four Wildlife Trusts in Wales and the Wales Committee of Royal Society of Wildlife Trusts IRSWTI, working together to develop their partnership, with staff expertise and representation on national bodies shared throughout the Trusts. The Wildlife Trust of South and West Wales is represented on the Wales Committee by the Chief Executive and by the Chairman. WTSWW contributed 35%_to the overall WTW levy in the year 2023-24. The Trust also works closely with the Royal Soclety of Wlldllfe Trusts IRSV4T) and all The Wildlife Trusts {TWTI, to ensure that national Aims and Objectives are met, workin8 towards our joint vision of an environment rich in wlldlife for everyone. 20
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered name: The Wildlife Trust of South and West Wales Limited Also known as: Wlldllfe Trust of South and West Wales sv Reglstered Charlty Number: 1091562 Re8lStered Company Number; 4398959 Trading subsidiaries.. DWT {Enterprisesl Llm ited Reglstered Office: The Nature Centre Fountain Road Tondu Bridgend CF32 OEH Board of Trustees Chairman Treasurer Vlce Chalr Mike Alexander Stuart Bain Paul Culver Mark Brian Rosey Grandage Shlrley Matthews Mike Davies Catrin Evans Leonora Thomson Jenny Hughes Jess Moore Lucy Grifflths Resigned 19 February 2024 Appolnted Chalr July 2024 Resigned 5 September 2023 Appointed Vice Chair Jul 2024 Resigned 9 September 2024 W- Trustee of wrww G- Trustee of GWT B- Trustee of B Chlef Executlve Sarah Kessell Company Secretary Diana Clark Prlnclpal Bankers: Lloyds TSB 7 Victoria Place Haverfordwest Pembrokeshire SA612JZ 21
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Solicitors: Hains & Lewis 7 St James Street Narberth Pembrokeshire SA67 7BZ Auditors: Azets Audit 5eNices Cardiff Gate Business Park Ty Derw Lime Tree Court Cardiff CF23 8AB 22
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ndix I 23
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Responsibilities of the Board of Trustees The trustees (who are also directors of The Wildlife Trust of South and West Wales Limited) for the purposes of company lawl are responsible for preparing the Trustees, Report (incorporating the directors, report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102., The Financial Reporting St(3ndord opplicoble in the UK and Republic of Ireland {United Kingdom Generally Accepted Accountin8 Practice), Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policles and then apply them consistentlyi observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the goln8 concern basis unless it is inappropriate to presume that the charitable company will continue In business, The trustees are responslble for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial posltlon of the charitable company and enable them to ensure that the flnancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charltable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial Information Included on the charitable company's website. Legislatlon In the United Kingdom governln8 the preparatlon and dlssemlnatlon of financial statements may dlffer from le8islation in other jurisdictlons. In so far as the trustees are aware: there is no relevant audit Information of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information, Audltors Azets Audit Services were re-appointed as the charitable company's auditors durin8 the year and have expressed their wlllingness to continue in that capacity, Approved by the Board of Trustees on 15 October 2024 and 5i8ned on Its behalf by: Mrs D Clark {Secretary> 24
REPORT OF THE INDEPENDEMf AUDITORS TO THE MEMBERS OF THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of The Wildlife Trust of South and West Wales Llmited (the 'parent charitable company'} and its subsidiaries Ithe 'group') for the year ended 31 March 2024 which comprise the consolidated Statement of Financial Activities, the consolidated and parent Balance Sheet. the consolidated Statement of Cash Flowsand notes to the financial statements, including significant accounting pollcies. The financial reporting framework that has been applied in their preparation is appllcable law and Unlted Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standord applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and falr vlew of the state of the group's and parent charitable company's affairs as at 31 March 2024, and of the group's incoming resources and application of resources, Including Its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit In accordance with International Standards on Auditing {U KI {ISAs IUKII and applicable law. Our responsiblllties u nder those standards are further described in the Auditor's responsibilities for the audit of the financial statement5 section of our report. We are independent of the group and parent charitable company In accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evldence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relatln8 to 8oln8 concern In auditing the financial statements, we have concluded that the trustees, use of the golng concern basls of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identlfied any materlal uncertainties relating to events or conditlons that, Individually or collectlvely, may cast significant doubt on the group's or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the flnanclal statements are authorised for issue. Our responslbilltles and the responsibilities of the trustees with respect to goln8 concern are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained withln the annual report. Our opinion on the financial statements does not cover the other Informatlon and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wlth the financial statement5 or our knowledge obtained In the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this glves rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report In this regard. 25
REPORT OF THE INDEPENDEKf AUDrroRS TO THE MEMBERS OF THE WILDUFE TRusf OF SOUTH AND WEST WALES LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Oplnlons on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustee5' report {incorporating the directors, report) for the flnanclal year for which the financial statements are prepared is consistent with the financial statements. and • the directors, report has been prepared in accordance with applicable legal requirernents. Matters on which we are requlred to report by exceptlon In the light of the knowledge and understandlng of the group and parent charitable company and its environment obtalned in the course of the audit, we have not identified materlal misstatements in the dlrectors, report. We have nothing to report in respect of the following matters in relatlon to which the Companies Act 2006 requires us to report to you If, In our opinion: • adequate accounting records have not been kept by the parent charitable company• or returns adequate for our audit have not been recelved from branches not vhslted by us; or • the parent charitable companWs financial statements are not in agreement wlth the accountin8 records and returns. or certain disclosures of dlrectors, remuneration specrfled by law are not made; or • we have not recelved all the Informatlon and explanatlons we requlre for our audit. Responslbilltles of trustees As explalned more fulty in the trustees, responsibilities statement, the trustees (who are also the directors of the parent charltable company for the purposes of company law) are responslble for the preparation of the flnanclal statements and for belng satisfied that they glve a true and fair vlew, and for such Internal control as the trustees determlne is necessary to enable the preparation of financlal statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the financlal statements, the trustees are responslble for assessing the group's and parent charltable companws abllity to contSnue as a EoinB concern, dlsclosin8, as appllcable, matters related to golng concern and usin8 the 8oln8 concern basis of accountlnB unless the trustees esther Intend to Ilquldate the 8roup or parent charltable company or to cease operatlons, or have no reallstlc alternative but to do so. Audltor's re5ponslbllltles for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the flnanclal statements as a whole are free from materlal misstatement, whether due to fraud or error, and to Issue an audltorfs report that includes our oplnlon. Reasonable assurance Is a hl8h level of assurance, but 15 not a Buarantee that an audbt conducted in accordance with ISAS {UK> wlll always detect a materlal mlsstatement when it exlsts. Mlsstatements can arlse from fraud or error and are consldered material If, Indlvldually or in the aggregate, they could reasonably be expected to Influence the economic declsions of users taken on the basls of these financial statements. A further description of our responslbllltles Is avallable on the Financlal Reporting Councll's website at: htt www.frc.or Our-work Audit Audit-and-assurance Standards-and- uidance Standards-and- uidance- for-auditors Auditors-res onsibilities-for-audit Descri tion- dltors-res onsibilities-for-audit.as Thls descriptlon forms part of our auditorfs report. 26
REPORTOF THE INDEPENDEKf AUDITORS TO THE MEMBERS OF THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Extent to which the audit was considered capable of detectin8 irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. We obtain and update our understandlng of the entlty, Its actlvities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understandlng, we Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audlt procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideratlon of the rlsk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularltles and non-compllance wlth laws and regulatlons, Includlng fraud, we desS8ned procedures which included: Enqulry of management and those charged with governance around artual and potentlal Iltl8atlon and claims as well as actual, Suspected and alleged fraud; Reviewing mlnutes of meetings of those charged with governance; Assessing the extent of compliance with the laws and regulatlons considered to have a dlrect material effert on the financial statements or the operations of the entity through enquiry and inspection; Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulatlons; Performing audit work over the risk of management bias and override of controls, Including testing of Jou rnal entries and other adjustments for appropriateness, evaluatin8 the buslness rationale of significant transactions outside the normal course of buslness and reviewlng accountln8 estlmates for Indicators of potential bias. Because of the Inherent1Smltatlons of an audit, there is a risk that we wlll not detect all irregularltles, Sncludlng those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financlal statements, as we wlll be less Ilkely to become aware of instances of non-compllance. The rlsk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud mav involve collusion, for8ery, intentional omissions, m isrepresentations, or the override of internal control. 27
REPORT OF THE INDEPENDEMf AUDITORS TO THE MEMBERS OF THE WILDLIFE TRUST OF SOUTH AND WEST WALES LIMrrED FOR THE YEAR ENDED 31 MARCH 2024 Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken 50 that we might state to the charitable companvs members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charstable company and the charitable company's members, for our audit work, for this report, or for the opinions we have formed. Katherlne Parkln Senlor Statutory Auditor For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8A8 Date: 4 November 2024 28
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (In¢orporatin8 the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 Total lunds 2024 Total funds 2023 Unrestrlcted funds Restrlcted Endowment funds fund5 Note Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other Total Income and endowments 463,970 541,665 914,626 141,957 22,853 2,085,071 149,962 950,211 613,932 1,491,876 914,626 142,269 22,853 3,185,S56 504,064 1,664,128 776,426 71,392 54,486 3,070.496 312 1,100.485 Expendlture on: Raising funds Fundraisln8 Trading Charitable activities Total expendlture 227,960 893,491 766,599 1,888,050 4,494 232,454 893.491 1,614,259 2,740,204 303,551 639,063 1,881,997 2,824,611 847,660 852,154 Net gains/{losse51 on Investments Net Income/lexpendlture) 13 52,179 249,200 52,179 497,531 176,2251 169,660 248,331 Transfers betweenfvnds.. Net movement in fvnds 18 73,799 322,999 173,799) 174,532 497,531 169,660 Reconclllatlon of Funds Total funds brought forward Totalfunds carrledforniard 18, 19 18, 19 3,734,440 4,057,439 1,387,984 1,562,516 135,826 135.826 5,258,250 5,755.781 5,088,590 5,258,250 The statement of financial activities includes all gains and losses recognlsed in the year. All incoming resources and resources expended derive from contlnuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 32 - 57 form part of the financial statements 29
THE WILDUFE TRUST OF SOLwfH AND WEsf WAIES LTD BALANCE SHEET AS AT 31 MARCH 2024 Group 2024 Charity 2024 Group 2023 Charity 2023 Notes Flxed assets: Tangible fixed assets Heritage assets Investment: Quoted Unquoted li 12 13 13 79.997 2.011.972 628.607 78.175 2Jlll.972 628,607 40 116,480 2,011,972 576,428 115,667 2.011,972 576,428 40 2,704,107 2,720,576 2,704,880 Current assets: Stock Debtors Cash at bank and in hand 49.164 251,361 3.149,755 3.450,280 35,199 285,902 2,717,725 3,038,826 14 443,798 2,786,011 3,229,809 466,132 2,390,026 2,856,158 Liabllltles: Creditors: Amounts falllng due wlthln one year Net current assets 15 (415,079 3,035,201 (213,561) 3,016,248 479,957} 2,558,869 1316,249) 2,539,909 Total assets less current Ilabllltles 5.755,777 S,735,042 5,263,749 5,244,016 Creditors: Amounts fallln8 due after more than one year 15,499} (5,4991 Net assets 20 S,755,777 5,735,042 5,258,250 5,238,517 The funds of the charfty: Endowment funds Restrlcted incorne funds Unrestricted Income funds Deslgnated funds Unrestricted Incorne funds Fixed assets Totsl charlty funds 20 18,20 135,826 1,562.516 135,826 1,562,S16 135,826 1,387,984 135,826 1,387,984 19 20 20 637,817 1,586.655 1,832,963 5.755,777 637,817 1.567.741 1.831,142 5,735.042 637,817 1,258,681 1,837,942 5,258,250 637,817 1,239,766 1,837,124 5,238,517 These fflnanclal statements were approved by the Board of Directorsnrustees on 15 October 2024. Paul Culver Chair Company no.: 04398959 The notes on pages 32- 57 form part of the financial statements 30
THE WILDUFE TRUST OF SOUTH AND WEST WALES LTD STATEMEMf OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 Net cash provided by operating activitles 23 331.063 46,576 CashflowsArom Investlng artlvitles.. Dividends, interest and rents from investments Proceeds from the Sale of investments Proceeds from the Sale of property, plant and equipment Purchase of property plant and equipment Net cash provlded by/ (used In) Investlng actlvltles 142,269 71,392 334,320 2,333 132,5181 375,527 13 li 16,618) 135,651 Coshflowsfrom financlng actlvltles.. Repayments of borrowing Cash inflows from new borrowin8 Net cash used in financing activities 23 23 (34,684) 140,0211 (34,684) 140,0211 Change In cash and cash equlvalents In the reportlng perlod 432,030 382,082 Cash and cash equivalents at th• beglnnlng of the reportlng perlod 2,717,725 2,335,643 Cash and cash equlvalent$ at the end of the reportlng period 23 3,149,755 2,717,725 The notes on pages 32 - 57 form part of the financial statements 31
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Legal form and address The Wildlife Trust of South and West Wales Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Nature Centre, Fountain Road, Tondu, Brid8end, CF32 OEH. Basis of preparatlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accountin8 and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 20191 The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The charity has availed itself of Paragraph 3 {3) of Schedule 4 of the Companies Act and adapted the Companies Act formats to reflect the special nature of the charity's activities. No separate SOFA has been presented for the charity alone as permitted by s408 of the Companies Act 2006. Group financlal statements The financial statements consolidate the results of the charity and Its wholly owned subsidiary DWT (Enterprises) Limited on a line by line basis. Company status The charity is a company limited by guarantee. The members of the company are subscribers paying a membership subscrlptlon. In the event of the charity being wound up, the Ilabllity in respect of the guarantee Is Ilmlted to £1 per member of the charity. Golng concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, Cash flow and budgets are monitored on a regular basls, thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. Future plans and forecasts for the charity aim to further increase the charity's unrestricted reserves. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the 8eneral objectives of the charity and which have not been designated for other purposes. Endowment funds are subject to speclfic conditions by donors that the capltal must be rnaintained by the charity. The capitalised value of the nature reserves transferred into the charity from The Glamorgan Wildlife Trust and The Wildlife Trust (West Wales) have been treated as unrestricted fund5 by the trustees. 32
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by donors or which have been raised by the charity for particular purposes. The cost of ralslng and admln15tering such funds are charged against the speciflc fund. The alm and use of each restrScted fund 15 set out in the notes to the financial statements. Investment income and gains are allocated to the appropriate fund. Income recognltlon Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notlfled of the donatlon, unless performance condltlons require deferral of the amount. Income tax recoverable in relation to donatlons recelved under Gift Ald or deeds of covenant is reco8nised at the time of the donatlon. Legacies are recognlsed on receipt or otherwise if the charity has been notified of an Impending dlstribution, the amount is known, and receipt is expected. If the amount is not known, the legacv is treated as a contingent asset. Income consists of the involced value (excluding VAT) of goods sold/5upplied to third parties and members. Membership and Subscriptions income is credited to the Statement of Financial Activities in the year In whlch they are due. Income received in advance is deferrÈd to the approprlate flnanclal year. Income from grants, whether 'capllal' grants or'revenue, grants, Is recognlsed when the charlty has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the and the amount can be measured reliably and 15 not deferred. Capltal grants are released to the Statement of Flnanclal Actlvities in the year of receipt. Fixed assets relating to capital grants are capitalised, and depreciation charged is offset against the grant income, in a restricted fund. Income from local groups, trading and nature reseNes is credited to the Statement of Financial Activities in the year in which they are due. No amounts are included in the financial statements for servlces and time donated by volunteers. Interest on funds is included when receivable and the amount can be measured rellably by the charity; this is normally upon notification of the interest paid or payable by the bank. 33
THE WILDUFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Expendlture recognltion Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classrfied under headings that aggregate all cost5 related to the activity. Where costs cannot be directly attributed to particular headings they have been allocated to activities on the basis of staff numbers within the activity which is supported, Costs of raising funds comprise the costs in relation to generating income such as fundraising activities. Expenditure on charitable activities includes all costs relating to the furtherance of the charity's objectives as stated in the trustees report. Other costs comprise the costs In relatlon to the charity's trading subsidiary. Governance costs are those incurred in the governance of the charltable company and Its assets and are primarily associated with constitutional and statutory requirements. Support costs are those costs incurred directly in support of expenditure towards the furtherance of the charity's objectives and includes project management carrled out at the Trust offices. Irrecoverable VAT is charged as a cost a8alnst the activSty for whlch the expenditure was incurred, Taxatlon As a registered charlty The Wildllfe Trust of South and West Wales Llmlted Is entltled to the exemption from taxation in respect of income and capltal galns recelved with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects, purposes only. Taxable profits generated by DWT (Enterprises) Llmited are gifted to the charity under a deed of covenant. Fixed assets Tanglble fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses or in cases where fixed assets have been donated to the char5ty, at valuation at time of acquisition. Fixed assets costing more than £1,000 are capitalised. Fixed assets include 'new build, properties but renovation and restoration works are not capitalised. 34
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Icontinued) Propertles are valued In the accounts as follows: Freehold bu ildings Welsh Wildllfe Centre cost of acquisition (including legal and professional fees) value at 1999 cornmercial value to The Wildlife Trust {West Wales) as at 1st January 1999 (being £10,000 a year over a useful life of 20 years) taken as deemed cost on transltion to FR5102 Depreciation is provided on all tangible fixed assets at rates calculated to write-off the cost on a stralght line basis over their expected useful economk Ilves as follows.. Freehold nature reserves WWC & Vlsitor Centre: Teifl Marshes Plant and equipment Computer equipment Motor Vehlcles Project plant and equipment over 20 years over 5 years over 3 years over 4 years over the Ilfe of the Project Herltage assets Heritage assets related to the charity's nature reserve are recorded at cost wlth no depreclation being charged due to the assets having an indefinite life. Nature reserves are valued in the accounts as follows: Leasehold Nature Reserves Teifi Marshes Nature Reserve cost of acqulsltlon value at 1999 Market Value by The Wildlife Trust {West Wales) taken as deemed cost on transition to FRS102 cost of acqulsltlon Other nature reserves The heritage assets have been reviewed at the reportlng date with no Impalrment noted. Investments The charity owns 100% of the share capital of the DWT IEnterpri5es} Limited, the shares of which are recognised at cost. A subsldiary Is an entlty controlled by the charity, Control Is the power to govern the f inancial and operating policies of the entity so as to obtain benefits from its activities. Flxed asset investments are initially rneasured at transactlon prlce excluding transactlon costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/lexpenditure) for the year. Transaction costs are expensed as incurred. Stocks Stocks are valued at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price after taking into account all further costs and exce5S Stocks that are slow moving. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 35
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (contlnued) Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price includin8 transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the tran5attlon Is measured at the present value of the future recelpts dlscounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financlal assets Financial assets are dereco8ni5ed only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the fina ncial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entiretyto an unrelated third partv. Flnanclal Ilablllties Basic f inancial lia bilities, includlng creditors and bank loans are initially recognised at transactlon price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operation5 from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current Ilablllties. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective Interest method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 36
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Employee Benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to termlnate the employment of an employee or to provide termlnatlon benefits. Penslons The charitable company and its subsidiary operate a defined contribution penslon scheme. The assets of the scheme are held separately from those of the charity. Payments to defined contribution retirement benefit scheme5 are charged as an expense as they fall due and are allocated between u nrestricted and restricted funds. Operatin8 Leases The charity classifies the lease of a franking machine as an operating lease. Rental charges are charged on a straight line basis over the term of the lease. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the appllcatlon of charlty's accountlng pollcles, the trustees are requlred to make Judgements, estimates and assu mptions about the carrying arnount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experlence and other factors that are consldered to be relevant. Actual results may dlffer from these estimates. The estlmates and underlylng assumptions are revlewed on an ongolng basls. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revlsion affects both current and future perlods. 37
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM DONATIONS AND LEGACIES Unrestricted funds Restricted funds Total 2024 Total 2023 Membership subscriptions 235,650 235.650 235.650 235,650 241,567 241,567 Donatlons and gifts Individuals Appeals and events Local groups 135,782 2,703 8,370 76,205 52,387 136,962 144,152 78,908 52.387 275,447 164,204 13,751 58,093 236,048 138,485 Legacles NFry M E Phillips J Raum S Graham S l Leitch E F Butcher P Edwards K Hudson 25,IX)O 25,000 3,000 851 1,000 10,000 13,394 49,590 851 (8801 10,000 13,394 49,590 26,829 500 26,449 89,835 13,000 102,835 463,970 149,962 613,932 504,064 38
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds Re5trlcted funds Total 2024 Total 2023 Conservatlon and education Charitable trusts under £10,000 Charltable trusts over £10,000 Dow Corning Foundation The National Lottery Heritage Fund Local Government Shared Prosperlty Grant The National Lottery Community Fund Natural Resources Wales PPL Foundation S 106 Grant WCVA- Volunteer co-ordinator Welsh Government Other Income from nature reserves 7,834 7.834 15,000 16,000 76,467 49,648 16,000 56,900 123,251 26.841 16,000 56,900 123,251 26.841 99,318 20,758 66,161 187,810 99,318 20,758 66,161 187.810 124,541 104,531 112,136 807 709,190 345,338 345,338 541,665 541,665 541,665 1,491,876 455,808 1,664,128 950,211 INCOME FROM OTHER TRADING AcfiviTIES Unrestrlcted funds Restrfcted funds Total 2024 Total 2023 Fundralslng Income Trading activities (see below) 914,626 914,626 914,626 914,626 776,426 776,426 2024 2023 The Wildlife Trust of South and West Wales Ltd DWT (Enterprises) Limited 125,141 789,485 914,626 185,511 590,915 776,426 39
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM OTHER TRADING ACTIVITIES l¢ontinued} Commercial trading operations and Investment In tradlng subsidiary The charity owns the whole of the Issued ordinary share capital of DWT {Enterprisesl Limited, company registration number 02702793 a company registered in Wales. The subsidiary is used for non-primary purpose tradin8 activities namely the provision of holiday accommodation on nature resees, catering for visitors and the retailing of bought-in goods to visitors. All activities have been consolidated on a line by Ilne basis in the SOFA. 2024 2023 Profft and Loss Account Turnover Cost of sales Gross profit Administrative expenses Profft/(loss) for the financial year 789.484 (255,055) 534,429 (355,417) 179,012 590,912 {176,399} 414,513 {234,292} 180,221 Statement of Chan eslnE Balance brought forward ILossl/profit and total comprehensive income for the year Distributions to parent charity under gift aid Balance carrled fonvard uit 19,618 179,012 (178,008) 20,622 20,491 180,221 1181,0941 19,618 Balance Sheet Fixed assets Current assets Creditors: amounts falling due within one year Total assets less current liabilities 1,822 417,265 1398,465) 20,622 818 363,760 1344,9601 19,618 Called up share capital Profit and loss reserves Total equity 40 20,582 20,622 40 19,578 19,618 40
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM INVESTMENTS Unrestricted fvnds Restricted fvnds Total 2024 Total 2023 Investment Income Dividends receivable Interest receiva ble Rents receivable 43.855 40,537 57,565 141,957 4355 40W9 57.565 142,269 49,889 5,464 16,039 71,392 312 312 INCOME FROM OTHER SOURCES Unrestricted funds Restrlrted funds Total 2024 Total 2023 Other Income Proflt on sale of flxed assets Insurance claim Sundry income 583 1,390 20.880 22,853 583 1,390 20,880 22,853 333 29,516 24,637 54,486 41
THE WILDUFE TRUST OF SOUTH ANO WESTWALES LTD NOTESTO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE Ch•rlt•bleA¢tlvttles UIR Tradlng UIA UIR Total 2014 Total 2023 Costs dlr•¢dy i11o¢ated to a¢tfvltleJ Staff costs Staff development Membershlp costs Admlnistraisve costs Audlt lees Bank char8es ajd Interest Bad debts Contractors and materials Depreclatlon Equlpment Fundralslr¢8 Costs Legal and profÈsslonil Other cost5 Premises overheads Promotion and advertlsln Tradlng costs Travel #nd vehltle runnlne cvsts 110,525 520 53.501 195 4A94 302,789 1,163 2,145 440,146 515 367,221 102 1,215,175 4,810 56,346 1354 7309 29,775 1,041.191 5,621 61.218 2,139 1,900 24,324 2.625 802,292 39,127 8,093 49,765 4,432 47.478 81,478 10,513 176,528 72.524 I,JiJ 6,500 14,942 709 1,732 95.620 24,461 IA90
07.754 19,245 4,4)9 619 13,240 407,81> 31,461 14,730 64,851 129 1394 1,197 7,922 102 690SY 2,666 14h51 41 1.981 19.976 45.4J7 105,776 9,055 255,056 67,650 56,IlJ 415 155,056 1,511 54.310 2.557 42
THE WILDUFE TRUST OF SOUTr1 ANO WEST WALES LTD NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 1024 EXPENDITURE I¢on¢inu•dl Fundr•lsl ChorltsbleActlvltles UIA Tridlnl UIA UIR Totsi 2024 Total 2023 Supportcosts •llo¢ated to •dfvltles Staff costs Admlnlsiraiive cost5 Audlt lees Bank char8es and lfiteresi Depreclatlon LeRal and profe55IonJl OthertOSts Prembes overhead5 Tr•vel •nd vehlcle rvnnln8 Costs Wales parrnershlp support coJt5 Tot•1 r•sour¢•s •xp•nded lJ,17 2,119 78.194 10,594 6,104 62,715 151.7 143.227 19,811 7,400 4,312 10.235 7,481 36,794 130,210 1,452 32,441 2,824.611 4.Ll83 1,287 1,156 1.99J 18.553 15,a21 12.208 5,218 4,640 7,481 46,381 113,302 2,223 33.533 2,740,ZQ4 322 464 741 4,6Jl ii,Js0 222 3.553 227,960 3,741 23,191 56,651 iii 16,767 766,599 lJ,413 893,491 4N94 2024 2023 A¢¢ouMln8 4nd audlt leex Auditor's remuneratlon Fees In respect ol other serwlces 18.000 750 10,000 Governance costs In the year totalled £42,22512023.. £31,340I. 43
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL 2024 2023 Staff costs and trustees, remuneration Wa8e5 and salaries Social security costs Penslon costs 1,230,371 100,085 51,560 1,382,016 1,046,207 77,545 46,785 1,170,537 One employee had emoluments of £60,000- £70,000 per annum durin8 the year12023: none). No remuneration has been pald to any of the Charlty's trustees and no expenses have been reimbursed to them12023: £136}. In the prior year one trustee carried out work and was paid £700 for the consultancy, Redundancy payments totalled £Nil during the year 12023: £Nill. There were no amounts outstanding at the current or previous year end. Key management personnel Total remuneration of key management personnel durin8 the year was £329,669 {2023; £299,914). Pension The charlty operates a defined contrlbution stakeholder pension scheme for its employees, administered by the People's Pension, which is outside the control of the charity. At the year-end there were 52 (2023: 52) employees who were members of the scheme. The balance outstandin8 at the year-end totalled £nil12023: £Nill io. STAFF NUMBERS The average monthly head count was 58 staff 12023: 491 and the numbers of the full-time equivalent employees (including seasonal and part-time staff I during the year was made up as follows.. 2024 2023 No Fundraising and membership Trading Charitable activities Administration io 33 10 30 52 49 44
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ii. TANGIBLE FIXED ASSETS Grou Welsh Wlldllfe Centre Plant and Computer machlnery equlpment Freehold buildings Motor vehlcles Total Cost At l April 2023 Additions in year Disposals in year At 31 March 2024 4,313 270.482 351,076 6,618 (117,3141 240,380 11,270 191,902 829,043 6,618 1136,244) 699.417 111.270) 17,660) 184.242 4,313 270,482 Depreclatlon At l April 2023 Charge for the year Released on disposals At 31 March 2024 3,017 431 232,876 3,524 327,111 15,037 (117,314) 224,834 11,270 138,289 24,109 (7,660) 154.738 712,563 43,101 1136,244) 619,420 111,2701 3,448 236,400 Net book values At 31 March 2024 865 34,082 15,546 29.504 79,997 Included in above restrlcted assets 7.340 2.987 10,327 At 31 March 2023 1,296 37,606 23,965 53,613 116,480 Included in the above figures are fixed assets at a cost of £19,95412023: £18,330} and accumulated depreciation charged at £18,132 12023: £17,513) relating to the charity's trading subsidiary DWT (Enterprises) Limited. 45
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12, HERITAGE ASSETS- Group and charity Freehold Nature Reserves Leasehold Nature Reserves Total Cost as at l April 2023 Cost as at 31 March 2024 1,901,412 1,901,412 110,560 110,560 2,011,972 2,011,972 Included in the above restricted assets 148,678 I,000 248,678 Heritage assets represent the cost of the charity's nature reseNes at the date of acquisition, which are held in pursuit of its conservatlon objectives. Five year summary Freehold Nature Reserves Leasehold Nature Reserves Total Cost at 31 March 2020, 2021, 2022, 2023 & 2024 1,901,412 110,560 2,011,972 46
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. INVESTMENTS-Group and charity UK listed Investments Shares In Subsidiary (charity onlv) Total Market value at l April 2023 Dlsposals Revaluatlon Market value as at 31 March 2024 576,428 40 576,468 52,179 628,607 52,179 628.647 40 Acquisition value at 31 March 2024 628,607 40 628,647 Investments are represented bv: DWT (Enterprlsesl Llmited Shares Llsted Investments Total 40 628,607 628,607 628,607 628,647 Charlty Investment Funds Total Market value 31 March 2024 628,607 628,607 Market value 31 March 2023 576,428 576,428 14. DEBTORS Group 2024 Charlty 2024 Group 2023 Charity 2023 Trade debtors Grant debtors Prepayments and accrued income Amounts owed by subsldlary undertaklng Amounts owed by subsidiary undertaking Gift Aid 72.874 80,200 98,287 72,874 80,200 93,930 18,786 178.008 174,472 110,566 864 163,701 110,566 10,771 181,094 251,361 443,798 285,902 466,132 47
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Charity 2024 Group 2023 Charity 2023 Trade creditors Taxation and social security Bank loans Accruals and deferred income Amount owed to subsidiary undertaking 167.621 48,152 1,813 197.493 129,270 30,646 1,813 51,832 203,312 47,906 30,998 197,741 177,179 30.3S9 30,998 72,938 4,775 316,249 415,079 213,561 479,957 Included In deferred income are deposits received in advance In relation to 5komer and Stockholm Islands Whe the visits will take place during the 2024125 financial year as well as 8rant payments received in advance and deferred in accordance with the terms and conditions of the grant. 2024 2023 Balance brought forward Income received in the year Income released in the year Balance carried forward 42,970 295,973 1134,855) 161,118 85,819 142,662 1185,5111 42,970 16. LONG TERM LIABILITIES Mort At the date of the Balance Sheet, the trust had taken up the followin8 bank loans: A loan from Lloyds TSB of £322,700 was secured against properties at Teifi Marshes Nature Reserve in April 2004. The loan was for a period of 240 months at an interest rate of 1.5% Over Base Rate. Bank loan Other loans Total Le5S than one year Between l and 2 years 1,813 1,813 1,813 1.813 The mortgage is secured by way of a flxed charge over certain assets of the charitable company. 48
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Bank loan Other loans Total Less than one year Between l and 2 years 17,298 5,499 22,797 13,700 30.998 5,499 36,497 13,700 17. TRANSFERS BEfwEEN FUNDS Durln8 the year the charlty match-funded some restrlcted funded prolects, These are shown as transfers. Some grants also funded the charit¢s overheads and these are shown as transfers. 49
THE WILDUFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. RESTRICTED FUNDS Balance asat l April 2023 Balance asat 31 March 2024 Transfer between funds Income Expenditure Restricted funds: Glamorgan Betty Church Fund Restrlcted funds: South & West Wales Appeals and donations Castle Woods Dow Corning Legacies Local groups Local places for Nature Nature Reserves Nature Networks Fund Nextdoor Nature Shared Prosperity Fund Skokholm Appeal Red Squirrel Stand for Nature Waterloo Trust- Islands Welsh Government {PNCPA & ERDC) WWC Development Fund Restrlcted funds: Brecknock Allt Rhongyr Fund Bat group BRARG group Otter group Pwll y Wrach Fund 40,650 40,650 235,389 8,465 84,576 (17,6621 302,303 8,465 16,000 13,000 S2,387 102,688 282,563 277,092 37,522 26,841 312 20.562 99,318 (16,0001 (23,2661 (63,4571 1101,7481 1130,3421 1225,389) (31,964) 122.067) 114,008) 144,953) 11,444) 615,153 72,488 604,887 61,418 940 297,908 11,040) 13.727) 119.556) 28,326 145,687 (20,779} (5,174} 28,014 120,562) 192,478) 80,523 30,500 2,655 124,392) 62,971 30,500 2,655 (8,597) 68,246 19,378 168,246) 125,984) 11,991) 106,178 322 248 5,165 42,500 106.178 322 248 5,165 42,500 Total restrlcted funds 1,387,984 1,100,485 (852,154) (73,7991 1,562,516 Restricted funds: Glamor an Betty Church The Betty Church fund is a restricted fund for the maintenance and acqulsition of nature reserves in West Glamorgan. Restrlcted funds: South & West Wales Appeals and donations For specrfic projects run by the charity. Castle Woods For the improvement and maintenance of Castle Woods. 50
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. RESTRICTED FUNDS (Continued) Dow Cornlng Support from Dow Corning to enable employment of an Education Officer, working part-time at the Dow Corning Cadoxton Ponds Nature Centre. Legacles Funds received for specific projects or activitles. Local Groups Local Groups funds are raised by various local groups for specific projects or activlties. Local Places for Nature Grants from Local Authorltles to support our work on specific projects. Nature Reserves General funds applied forthe protection and enhancement of our nature reserves. Nature Networks Fund Funds to support work on our nature reserves and Islands to enable us to build resilience and sustalnable nature resen4es. Nextdoor Nature Fund from NLHF to engaging communities in undertaking transformational micro-projects to help nature thrlve. Shared Prosperlty Fund Funds to support for existing shtes to improve to access and facilltles to improve access and accesslblllty for vlsltors. Skokholm Appeal This fund represents grants and donations received for the purchase and future management of Skokholm Island and Lighthouse. Red Squirrel Fund5 from Local Authorltles to support the protectlon of Red Squlrrels on our Nature reserve Stand for Nature To encourage and support young people to engage in activities to stand for nature and make positive impact in their communlties and wlth the support of our staff to develop projects Sn their local areas. Waterloo Trust- Islands Funding from the Waterloo trust to support the on8oln8 work on the Islands. Welsh Government Funds received for ENWRaW projects and Glaistir grant scheme. WWC Development Fund Fund from NLHF to explore the future develop and enhancement of the WWC to investigate improvements in accessibility and raise awareness of the Welsh Wildlife Centre for use In outreach and engagement events. 51
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. RESTRicfED FUNDS (contlnued Re5trl¢ted funds: Brecknock Allt Rhongyr Fund Monles recelved have been used to purchase land and will be held untll dlsposal. Bat group, BRARG group and Otter group These are funds held for species groups. Pwll y Wrach Fund Monies received have been used to purchase land and will be held untll disposal. Previous Balance asat l April 2022 Balance asat 31 March 2023 Transfer Unrealised between 8ain/loss funds Income Expenditure Restrlcted funds; Glamor8an Betty Church Fund Restrlcted funds: South & West Wales Appeals and donations Castle Woods Coastal Communitles Dow Corning Emergency grants Green Connections Green Recovery Legacies Local groups Marine Wildlife Centre Nature Reserves Nature Networks Fund Nextdoor Nature Skokholm Appeal Stand for Nature HNLF- Healthy Reds Waterloo Trust - Islands Welsh Government IPNCPA & ERDCI Restricted funds: 8recknock Allt Rhongyr Fund Bat group BRARG 8roup Otter group Pwll v Wrach Fund 40,650 40,650 240,526 8,465 28,319 133,4561 235,389 8,465 26,376 16,000 (25,0101 (16,0001 (28,2881 (57,5381 11,366) 28.288 112,0791 {861 654,787 64,003 2,779 155,136 172,4151 69,617 86 500 58,093 807 266,229 548,007 25,011 58 124,541 51,456 119,9951 {20,1391 149,6081 13.5861 1275,6781 1472.8111 122.0131 {108,6481 {80,4381 146,7551 615,153 72,488 145,687 {20,7791 15,1741 28,014 80,523 123,5601 {8,1721 136,604 Ell,814 14,7011 30,5C() 3,846 124,3941 30,500 2,655 65,190 {66,3811 106,178 322 248 5,165 42,500 106,178 322 248 5.165 42,500 Total restrlcted funds 1,491,530 1,280,290 11,306,205) 120,139) 157,4921 1,387.984 52
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. DESIGNATED FUNDS Balance at l April 2023 Balance at 31 March 2024 Income Expenditure Transfers Asset purchase reserve Matched funding reserve Income support fund Reorganisation and development fund 125,000 200,000 loo,000 125,000 200,000 loo,000 212,817 637,817 212,817 637,817 Asset purchose reserve The asset purchase reserve fund Is to enable the charlty to purchase vehicles to asslst staff Sn carrylng out work safely on the nature reserves. Motchedfvndlng reserve The matched funding reserve are funds deslgnated from general funds to provide match fundlng for any shortfall on restricted fu ndin8 received. Income supportfvnd The charity anticipates that this will be a period where they will try to revive and develop aspects of the charity and the fund will provlde support for thelr operatlons In the Interim. Reorganlsotlon and developmentfvnd The reorganisatlon and development fund Is to support the cost of addltlonal staff resources to develop the charity's income generating capacity to provlde the resources to deliver the charity's charitable objectives, Previous or Balance at l April 2022 Balance at 31 March 2023 Income Expendlture Transfers Asset purchase reserve Matched funding reserve Income support fund Reorgani5ation and development fund 125,000 200,000 loo,000 125,000 200,000 100,000 212,817 637,817 212,817 637,817 53
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS General Designated funds funds Restrlrted Endowment funds funds 2024 Total Fund balances at 31 March 2024 are represented by: Tangible fixed assets Heritage assets Investments Current assets Current liabilities 69,669 1.763,294 367,176 1,634,558 (415,079) 3,419,618 10.328 248,678 125,605 1.177.905 79,997 2,011,972 628.607 3A50,280 (415,079) 5,755,777 135,826 637,817 637,817 1,562,516 135,826 Pr us eor General Designated funds funds Restrlcted Endowment funds funds 2023 Total Fund balances at 31 March 2023 are represented by: Tangible fixed assets Heritage assets Investments Current assets Current liabilities Long term liabilities 74,648 1,763,294 314,997 1,429,140 1479,9571 {5,4991 3,096,623 41,832 248,678 125,605 971,869 116,480 2,011,972 576,428 3,038,826 1479,9571 (5,4991 5,258,250 135,826 637,817 637,817 1,387,984 135,826 54
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. OPERATING LEASE COMMITMEfrirs At the reporting end date the charity had outstanding commitments for future mlnimum lease payments under non-cancellable operating leases, whlch fall due as follows.. 2024 2023 Due in less than one year 22. RELATED PARTIES The charity owns the whole of the issued ordinary share capital of DWT IEnterprlses} LSmlted, a company re8lStered in Wales, company number 02702793. The subsidiary is used for non-primary purpose trad ing actlvities namely the provlsion of holiday accommodation on nature reserves, caterlng for visitors and the retailing of bought-in goods to visitors. All actbvltles have been consolidated on a line-by-line basis into the Statement of Financial Activities. Durlng the year DWT (Enterprlsesl Llmited covenanted £178,008 to the charlty12023: £181,094). At the year end the charity owed £Nil12023: £4,775) to DWT (Enterprlsesl Ltd. At the year end DWT {Enterprisesl Llmlted owed the charlty £196,79412023: £187,090). Durlng the year the charity Invoiced DWT (Enterprises) Limited £40,31812023: £35,135) in relation to varlous recharges. During the year DWT (Enterprises) Llmited invoiced the charlty £6,34512023: £4,616}. It also wholly owns a dormant subsidiary, Autumn Peak Limited and also operates two charities as inactive companies, The Glamorgan Wildlife Trust Limited and The Wildlife Trust (West Wales) Ltd. The Trust has a close working relationship wlth the other wildlife trusts in Wales and the Royal Society of Wildlife Trusts IRSWTI, workin8 together to develop their partnerships, with staff expertise and representation on national bodSes shared throughout the Trust. 55
THE WILDLIFE TRusf OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net Income for the reportlng perlod 497,531 169,660 Adjustmentsfor.. Depreciation charges IGainsl/losse5 on investments Dividends, interest and rents from investments Lossllprofitl on the sale of f ixed assets {Increasel/decrease in stocks Ilncreasel/decrease in debtors Increase/ldecreasel In creditors Net cash provlded by operatin8 actlvltles 43,101 (52,179) (142,269) 49,362 76,225 171,3921 13331 15,3691 1184,777) 13,200 46,576 (13,9651 34.541 (35,697) 331,063 Anal sis of Cash and Cash E uivalents Current accounts and notice deposits l< 3 months) Total Cash and Cash Equivalents 3,149,755 3,149,755 2,717,725 2,717,725 Anal I fn At l Aprll 2023 Cash Flows New Asat31 Borrowlng March 2024 Cash Bank loans falling due within one year Bank loans falling due after more than one year 2,717,725 130,9981 432,030 29,185 3,149,755 11,813) 15,4991 2,681,228 5,499 466,714 3,147,942 Previous eor Anal sis of net debt At l April 2022 Cash Flows New Asat31 Borrowing March 2023 Cash Bank loans falling due within one year Bank loans falling due after more than one year 2,335,643 (32,9711 382,082 1,973 2,717,725 130,9981 143,5471 2,259,125 38,048 422,103 15,4991 2,681,228 56
THE WILDLIFE TRUST OF SOUTH AND WEST WALES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. RESULTS OF THE PARENT COMPANY As permitted by section 408 of the Companies Act 2006, the income and expendlture account of the parent company is not presented as part of these financial statements. The parent company's surplus for the financial period was £496,532 (2023: surplus of £5351, 25. COMPARATIVE STATEMENT OF FINANCIAL AcfiviTIES Total funds 2023 Unrestrlcted funds Restricted Endowment funds funds Income and endowments from: Donations and legacies Charltable activities Other trading activlties Investments Other Total Income ond endowments 417,152 470,808 776,426 71,334 54,486 1,790,206 86,912 1,193,320 504,064 1,664,128 776,426 71,392 54,486 3,070,496 58 1,280,290 Expendlture on: Raising funds Charitable activitles Other Total expendlture 278,861 600,482 639,063 1,518,406 24,690 1,281,515 303,551 1,881,997 639,063 2,824,611 1,306,205 Net 8alns/(lossesl on Investments Realised Unrealised Net Income/(expenditure) 123,2841 132,8021 215,714 {21,636) 1,497 146,054) 144,920) (31,305) 169,660 Transfers betweenfvnds.. Net movement infvnds 57,492 273,206 157,492) 1103,5461 169,660 Reconclllation of Funds Total funds brought forward Totalfvnds carriedforword 3,461,234 3,734,440 1,491,530 1,387,984 135.826 135,826 5,088,590 5,258,250 26. EVENTS AFfER THE REPORTING DATE After the balance sheet date grant funding was received to fully fund the purchase of land at Trellwyn Fach for a purchase price of £730,000. 57