Corn an Chari number.. 04304161 number: 1092349 HAWK CONSERVANCY TRUST LIMITED CONSOLIDATED ACCOUNTS YEAR ENDED 31 JANUARY 2024 CONTENTS Legal and Administrative Details Directors. Report 8 - 10 Report of the Auditors Statement of Financial Acts"vities 12 Balance Sheet 13 Cash Flow Statement 14. - 25. Notes to the Accounts For management purposes only: 26. - 27. Detailed Income and Expenditure Account FLETCHER & PARTNERS CHARTERED ACCOUNTANTS SALISBURY
Pa HAWK CONSERVANCY TRUST LIMITED YEAR ENDED 31 JANUARY 2024 LEGAL AND ADMINISTRATIVE DETAILS Name: The Hawk Conseniancy TNst Limited, known as The Hawk ConseNancy Address: The Hawk Conservancy, Sarson Lane. Weyhill, Andover. Hampshire. SP118DY Directors: Mr M S Dryden Mrs J A Hughes Mr A Johnson Mr S Jones Mr A R O'Hagan Mr G Wyles Mrs G Khan Mr J Chitty (appointed 1st December 2023) President: Mr C Packham Vice-Presldents" Mr M Anderson Major N Lewis MBE Mrs S Rowe Mr M Shellard Ex8CUtive Life Presldent: Mr A Smith Company Secretary: Mrs AR Beiens Chlef Executive Officer . Ms P Smout Advisers: Bankers Nat West plc. 48 Blue Boar Row. Salisbury, Wiltshire, SP1 1 DF Audttors Fletcher & Partnets, Crown Chambers. Bridge Street. Salisbury SP12LZ Stockbrokers: Rathbones. Port of Liverpool Building, Pier Head, Liverpool, L3 1 NW Number: Registered Charity Number 1092349 Registered Company Number 04304161
Pa HAWK CONSERVANCY TRUST LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The directors present their annual report with the consolidated accounts of the Trust for the year ended 31 January 2023. These wlate to the company and the companys subsidiary The Hawk Conseniancy Trading Company Limited. and have been prepared to comply wrth the provisions of the Companies Act 2006, the Charities Act 2011, the Trusys goveming documents and the Statement of Recommended Practice on Accounting and Reporting by Charities (FRS 102). STRUCTURE GOVERNANCE AND MANAGEMENT Constitutlon and Charitable StatUS The company is known as the Hawk ConseNancy Trust Limited and is a company limited by guarantee. Its company number is 04304161 and its charity registration number is 1094329. The company is govemed by its Memorandum and Articles. The Hawk Conservancy Trust Limited has a wholly owned trading subsidiary, The Hawk Conservancy Trading Company Limited which runs the gÈft shop, restaurant and other commercial activities on behalf of the Trust. Organisatlonal Structure The directors who have served during the year and since the year end are set out on page one. The direotors meet regularly to manage the companls affairs. The directors are responsible for day to day administration of the company. The company directors were as follows: _ Mr M S Dryden Mrs J A Hughes Mr A Johnson Mr S Jones Mr A R O'Hagan Mr G Wyles Mrs G Khan Mr J Chity (appointed 1 December 2023) The directors have appointed a Chief Executive Officer to whom day to day management of the company is delegated. Recruitment and Appointment of Directors The directors a appointed from among members of the general public committed to the principles of conseNation and the preservation of wild lrfe and raptors in particular. It is our aim to select persons who have a particular skill to contribute to the Board and enable a broad range of expertise to be available to deal wtth the various matters as they arise. Each director has a responsibilty for a particular area, i.e. ethics, sales and marketing, human resources, etc., and the board also holds meetings to gather information and the views of the staff as well as members of the general public. By these means they fomulate the policies to which the Trust conforms and these policies are being intsgrated into a strategic plan to guide the Trust in future years. This plan will be reviewd annually to meet changing conditions if required. The policies set out in the strategic plan form the guidelines upon which the Chief Executtve CaleS out her duties. All the directors are wholly committed and practically supportive of the activities of the Trust Dlrector Inductlon and Tralnlng New directors undergo a period of orientslion and training during which time they are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and the decision making pro&$eS, the business plan and recent financial perf0rrnan of the charity. DurTng this time the new directors will meet other existing directors and key members of staff. Risk Management The directors confim that they have reviewed the major risks to which the Trust is exposed and, where practicable, they have established systems to minimise any potential impact on the charity should those risks materialise.
Pa HAWK CONSERVANCY TRUST LIMITED DIRECTORS. REPORT CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 OBJECTIVES AND ACTIVITIES The Company's object and principal activrty has not changed and our work continues to ensure the relief of suffering and endangertnent of birds of prey and other Mfjldlife in need of care and attention whether by way of direct conservation of species or preservation of their environment Main activities undertaken to further the charity's purposes for the public benefit The directors confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. The Board of Directors The Board's skill base has been greatly enhanced by the addilion in December of Mr John Chitty, a long- time supporter and former vet of the Trust. with snifiCant experience in the field of avian veterinary scien and exotic species. Further appointments will be considered. as and when appropriate, as we look to ensure we have a diverse range of talents and experience, at Board level. It is with great sadness that we relay the news of Mrs Marion Paviourfs death in the spring. As the Trust's inaugural Chairman. she was a tremendous Influen on the charity's direction in the earty days and made an enormous contribution throughout her 16 years, tenure. Conservation Research and Education We are delighted to be able to write about the overseas and UK fieldwork, including an expanding project on one Endangered vulture species, the Lappel-faced Vulture. In the UK, we have increased our involvement in Farmer Cluster nebNorks to ejght (up from five) in southem England, and working with more than 130 landowners. Farmer Clusters are groups of farmers who are working as a collective on a landscape scale towards habitat change for the benefit of wildlife. We have increased our neiwotk of nest boxes to 1,450 (up from 1,200) and their connected research efforts. Two intern programs were conducted during the year, one on biodiversity and one on conseNation education. We are grateful to Inveslec Bank PIC once again for their funding contribution towards this work. Our education activities have been strengthened by the addition of a Principal Educator to the team and we look ft)rward to expansion of our capabilities in this area. Working partnerships during the year included Endangered Wldlife Trus{ Wortd Wildlife Fund - Pakistan. and Saving Asian Vultures from Extinction. We will atways consider further collaborations, when appropriate, if we feel that these will complement and enhance the conservats.on work we carry out. Published works during the year were" .Shaw, P., Ogada, D.. Dunn. L., Buil. R.. Amar. A.. Garbetl, R.. Herremans, M., Virani, M., Kendall, C.. Croes. B., Odino, M., Kapila, S., Wairasho, P.. Rutz, C.. Botha. A., GalloQisi, U.. Murn. C.. Maude. G. & Thomsett, S. <20241 African savanna raptors show eviden of w5despread population collapse and a growing dependence on protected aa$. Nature Ecology & Evolution 8: 45-56 .Portugal, S. J., Ozkurk. R.. Murn. C. P.. Potier. S. & Martin. G. R. (2023) Anomalous binocular vision in African Harrier-hawks. Cuent Biology 33: R1142-R1143
Pa HAWK CONSERVANCY TRUST LIMITED DIRECTORS. REPORT CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 Commercial Efforts The Hawk Conservancy Trust's vnrk remains primarily supported by our visitors to the pa in Weyhill. The number of resident birds at the Trust is one of the largest of its kind in the UK and an essential part of the formula that makes us a top-rated bird of prey wsitor attraction in the country on TripAdvisor. The purpose of the visitor attraction is threefold.. to introduce visitors to a range of species of bird of prey gÉving us the opportunty to educate about and inspire, to support our conservation wort( with thern and to continue the Trust's involvement in a range of breeding programmes. and to undertake vttal research. The collection is the reason many people visrt the Trus( the tremendous support from our visitors who come from all walks of life and confirm our broad appeal, and enable our core work to continue. We began our 2023 year being somewhat apprehensive about visitor numbers and whether or not they would retum to pre-covid levels. In the end, our footFall attendance beat all records to date. of which we were very proud. This was largely due to product diversity development across all seasons, beyond that of a simple day visit. 2023124 Challenges and Strategies Avian Influenza continues to be present in wild bird populations requiring significantly additional biosecurtty measures to keep our birds safe We are working on strategies to evolve our wild bird rehabilitation facilities in such a way as to minimise risk to our resident birds. Our main concem for 2023124 year centres on the macro-economic and cost of living inflationary pressures, which have the potential for reducing day visits and donaknons. and increasing running costs. To mib.gate these risks, we plan to enhance the visitor experien to the park as the result of the appointment of a full-time horticulturist. This will allow us to further increase the plant and wildlife diversity within our grounds, provide greater stimulation within each aviary for our birds. and expand the market appeal whilst providing our visitors with an even more beautrful backdrop for their enjoyment. In addition to this, we are working hard to develop and expand our fundraising capabIleS. Investment Policy The Trust has a number of bank deposits, in addition to an investment portfolio managed on a discretionary basis by a professional investment manager. The investment portfolio aims to provide long tenn income and growth from a diversified portfolio of investments. The Trustees have instructed the investment manager not to invest in certain investments that may conflict with the aims and objectives of the Trust.
HAWK CONSERVANCY TRUST LIMITED DIRECTORS. REPORT CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 Fundraising Donors to our charity can be assured that we comply wilh the regulatory standards for fundraising. We are registered with the Fundraising Regulator and are committed to the Fundraising Promise and adherence to the Code of Fundraising Prackn"ce. This report covers the requirements that charities must follow as set out in the Charities Act 2016. It costs us at approximately £1.5 million a year to operate our charitable activities, we have a trading subsidiary to generate trading income for the chanty but rely on a significant amount of donations to cover our charitable activities. Our fundraising activities encourage donats.ons and gifts in wills. We also organise fundraising events in the park. We have our own in house fundraising team and do not use third party suppliers, although we may consider this in the future. rf it were felt suitable and appropriate. We are aware of the need to protect vulnerable persons and have signed up to the Fundraisin9 Pieference Servi. We are registered with the Fundraising Regulator and comply with all the relevant standards set out in the Code of Fundraising Practice. We have not received any complaints. In the event that we do receive a complaint. we would aim to respond within 10 days. Our policy requires us to report the number of complaints to the Fundraising Regulator. FINANCIAL REVIEW Flnancial results and going concern During the year net income before investment gains decreased to £283,860 compared to £358.801 in 2022123. Income and expenditure on operations are broardly similar to last year. however 2022123 did include £100.451 of additional income from an Insuran payout relating to the reduced visitors during the Covid-19 lockdowns. Net assets increased by £286,002 to £2,647.925 from £2,361,923 the previous year. The trustees have a reasonable expectation that the company has adequate reSoUrS to conbnue in operational existence for the foreseeable ftjture. For this reason they continue to adopt the going concern basis in preparing the financial statements. Reserves policy The trustees have, as part of the strategic plan. considered the likely resource requirements for the future. They have been corisaous of the possibility of the curtailment of incoming reSoUrS from admissions and trading activities due to unforeseen disaster, such as, for example, the Foot and Mouth outbreak of 2001 and more recentw Covid-19. In order to allow for the continued realisation of the chartttys objects in the fa of such events. the directors have set a policy whereby the Trust has sufficient reserves to enable the charitable acb'vities to be continued for at least one year.
HAWK CONSERVANCY TRUST LIMifED DIRECTORS. REPORT CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 Principal funding The principal sources of funds of the charity alone are admission into the park, including special events, member subscriptions. voluntary donations and sponsorship. The total of all income was £2,059,609 (2023 - £1,824,181). The cost of generating income was £232,403 (2023 - £177.479). Out cf the resulting available funds, £1,501,705 (2023 - £1,325,434) has been expended on charitable activities, in particular the general conseniation of raptors. the education of the public about birds of piey and the return of injured birds to the wild. We are continually struck by the generosty of our supporters and these acts of kindness allow us to continue our ongoing mission, to help conserve birds of prey and their habitats across the globe. The charitys wholly owned subsidiary. the Hawk ConseNancy Trading Company Limited, undertook the operation of the trading activities at the Park consisting principal of the coffee shop and the gift shop. The companls tumover amounted to £641,930 (2023: £680,780) and it generated a loss of £41.641 (2023.. £37,761 profit). Plans for future periods Having purchased a propety situated in the centre of the grounds we continue to further plans for conversion into useful office space to accommodate our growing ConseNation, Research and Education Team, and make space for a future Fundraiser, in addition to addressing the office accommodation needs of the rest of the expanding team. Other infrastructure projects continue with work on the new Chapel Aviar(es, which we hope to have fully up and running in the nearfvture. In addition to these infrastructure plans, we are also working towards expansion of our U K and overseas research programs, and the development of a dedicated facility for our Wild Bird rehabilitstion activitie5. ACCOUNTING AND REPORTING RESPONSIBILITIES Company law requires the directors to prepare financial ststements, 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 incoming resources and applicakn'on of resources. including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the directors are required to: Select suitable accounting policies and then apply them consistently. ObseNe the methods and principles in the Chartties SORP Make judgements and estimates that are reasonabte and prudent. State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue to operate.
Pa HAWK CONSERVANCY TRLIST LIMITED DIRECTORS. REPORT CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the group and which enable them to ensure that the financial statements comply with the provisions of the Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularib"es. In accordan with company law, as the MpanS directors. we cettify that so far as we are aware, there is no relevant audit information of which the charitable company's auditors are unaware, and as directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the auditors are aware of that information. Auditors Fletcher and Partners have iThJicated their willingness to continue in their capacity as the company's auditors. A solUtion proFMJsing their re-appointment will be put to the Annual General Meebng. For and on behalf of Hawk Conservancy Trust Limited - Mr Scott Jones Approved on:
Pa INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HAWK CONSERVANCY TRUST LIMITED FOR THE YEAR ENDED 31 JANUARY 2024 Opinion We have audtted the consolKlated financial statements of Hawk Conservancy Trust and its subsidiary for the year ended 31 January 2024, which comprise of the Consolidated Statement of Financial Activrties, the Group and Charity Balance Sheets, the Consolidated Statement of Cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102: The Financial R8POrting Standard applicable in the UK and Rewblic of Ireland (United Kingdom Generally Accepted Accounting pctiCe). In our opinion the financial statements. give a true and fair view of the state of the group's and the parent charitabl8 companws affairs as at 31 January 2024, and of the group's incoming resources and application of resources, including its income and expenditure, for Ihe year then ended,. have been propedy prepared in acGordan¢e with United Kingdom Generally Accepted Accounting Practice., have been properly prepared in accordance with the Companies Act 2006 and Charities Act 2011. Basis for opinion We Gonducted our audit in accordance with Intemational Standards on Auditing{UK) (ISAs(UK)) and applicable law. Our responsibilities under those stsndards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with Ihe ethical reqU1ments that are relevant to our audit of th8 financial statements in the UK. including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audrting the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is approprTate. Based on the work we have perfornied, we have not idents.fied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a gDing concem for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with reSpt to going conrn are described in the relevant sections of this report. Other information The other information comprises infomiation included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the ather infomation. Our opinion on the financial statements d$ not cover the other infomation and we do not express any form of assurance conclusion thereon. In ccnnection with our audit of the financial statements. our responsibility is to read the other information and, in doing so. consider whether the other information B materially inconsistent Vth the financial statements or our knowledge obtained in the audit or othenNise appears to be materially misstated. If we identtfy such material inconsistencies or apparent material misstatements, we are required to determine wh8ther there 15 a material mi5Statement in the financial statements or a material misststement of the olher infomiation. If, based on the work we have performed. we condude that there is a material misstatements of this Other information, we are required to report that fact. We have nothing to pOrt in this regard.
Pa INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HAWK CONSERVANCY TRUST LIMITED FOR THE YEAR ENDED 31 JANUARY 2024 Opinions on oth&r matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit." Ihe inforrnation given in the trustees port for the financial year for which the financial ststements are prepared is consistenl with the financial statements" arKI the truslees report has been prepared in accordanc8 With applicable legal requirements. Matters on which we are required to report by exception In tho light of the knowledge and understanding of the group and parent charitabla companys and its environment obtained in the course of the audit, we have Mt identified material misstatements in the trusiees report. We have rK)thing to report in respect of the following matters in relation to which Ihe Companies Acl 2006 require5 US to report to you if. In our opinlon: adequate accounting records have not been kept by the parent charitable company, or return adequate foi our audit have not been received from branches not visited by us" or the parent charitable company financial staiements are not in agreetn8nt wilh the accounting records or Teiurns. or certain disclosure of trustees, remuneration specified by law are nol made: or we have not received all the information arKI explanations we require for our audit. the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the trustees reporl and from the requirement to prepare a strategic reFX)rt. Responsibilities of Trustees As explained more fully in the TTUStees' Responsibility Stslement. the trustees (who are also the directors of Ihe charitable company for the purposes of company law) are responsibte for the preparation of the financial statemenls and for being satisfied that they give a true and fair wew, and for such internal controls as tho trustoes d8termine is necessary to enable the preparation of the finaniial statements that ale free from material misslatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going conrn. disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the directors either intend to liquidale the group or the parent charitable company or to ase operations. or have no realistic alternative but to do so. Auditors responsibilities for the audit of the financial statements Our objectives are to oblain reasonablo assuran about whether the financial ststernents as a whole are free from material misstatement. whether due to fraud or error. and to issue and auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when wt exists. Misstatements can arise from fraud or error and are considered material rf, individually or in aggregate, they could reasonabty be expected to influence the economic decisions of users tak8n on the basis of these flnancial stalements. Irregularlbes, includlng 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 irregularilies. including fraud. The extent to which our procedures are Pable of detecting Iegular4tie$, including fraud is detailed on the next page:
Pa e10 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HAWK CONSERVANCY TRUST LIMITED FOR THE YEAR ENDED 31 JANUARY 2024 As part of an audtt in accordance wilh ISAS {UK). we exerdse professional judgement and maintain professional scpeticism throughout the audit. We ensured that the engagement team collectively had the appropriate competence and capabilities to recognise non-compliance with applicable laws and regulations" We identified the laws applicable to the company through discussions with directors and managem8nt. and from our knowledge and experience of the company and the sector; and We ensured that the laws and reguL3tions 1¢h we identifd were communicated to the engagement team and that they remained alert to instsnces of non- complian throughout the audti. We assessed the susceptibility of the companys financial statements to material mis-statement, including obtaining an understanding of how fraud might occur. by: making enquiries of management as lo their assessment of the risk of fraud and their kno¥edge of actual or alleged fraud. and - considering the effectiveness of intemal controls to mitsgate the risks of fraud and non-compliance with laws and regulalions. We addressed the risk of fraud through management bias and the over-ride of controls by assessing whether judgements and assumptions made by management were indicative o* potential bia5 and by investigating the ration81e behind significant or unusual transactions. In order to addre55 the risk of iThegularities we carried out procedures which included agreeing the financial statements to underfying documentatK)n and enquiring of management as to actual and potential litigation and instances of non-compliance. There are however inherenl limitations in these audit procedures. The more removed that laws and regulations are from financial transactions. the less likely it is Ihat we would be aware of non-compliance. Auditing standards also limit the procedures required to identify non-complianGe to enquiry of management and inspection of relevant ¢orresponden¢e. Furthemiore misstatements due to fraud can be harder to detect that those that arise from error as they may involve deliberate COnalment or collusion. A further description of our responsibilities for the audit of the financial statements is located on th8 FRC website ( www.frc.org.uklaudit0rsresns1b1lltles} This description forms part of our auditors report. This report is made solely to the charitys members. as a body, in accordance with Chapter 3 of Part 16 of tha Companies Act 2006 and section 151 of the Charities Act 2011 and regulations mad8 undar section 154 of thal Act. Our audit work has been undertaken so that we might state to the chariws members those matters we are required to state to them in an audito¢s P)rt and for no other purpose. To the fullest extent pemiitted by law, we do not accepl or assume responsibil¥ty to anyone other than the charity and the charitys members as a body, for our audit work, for this report, or for the opinions we have form8d. James Fletcher (Senior Statutory Auditor) for and on behalf of Fletcher & Partners Chartered Accountants and Statutory Auditors. Crown Chambers, Bridge Slreel, Salisbury, SP12LZ 20% Fletcher & Partners is eligible to act as an auditor in tem)s of saction 1212 of tha Companies Act 2006.
Pa efj1 HAWK CONSERVANCY TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Includin the Income and Ex enditure Account FOR THE YEAR ENDED 31 JANUARY 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Note INCOME AND EXPENDITURE INCOME FROM: Donations and legacies 173.834 599.110 772.944 448.201 Charitable activities 1.244.726 1.244.726 1,248,479 Other trading adivities: Commercial Irading operations 641,930 641,930 680.780 Investment income 41,939 41,939 26.970 Other income 100.451 Total income 2.102.429 599,110 2.701.539 2,504,881 EXPENDITURE ON: Costs of raising funds Costs of generating voluntary income Commercial trading operations 232.403 683.571 232,403 683.571 177,479 643,167 Charitable activities 1.201,938 299.767 1,501,705 1.325.434 Total expendlture 2.117.912 299.767 2.417.679 2,146,080 Net Tncomel (expenditure) before gains and losses on Investments (15.483) 299,343 283,860 358,801 NET GAINSI(LOSSES) ON INVESTMENTS Unrealised Realised 7.311 (5.169) 7.311 {5,169) (51,060) 7,673 Net in¢omel(expendlture) (13.341) 299.343 286,002 315,414 Transfers between funds 135.265 (135.265) Net movement In funds 121,924 164.078 286,002 315.414 Reconclllatlon of funds: BALANCES AT 1 FEBRUARY 2023 2,019.364 342.559 2,361,g23 2,046.509 BALANCES AT 31 JANUARY 2024 £2.141.288 £506.637 £2.647,925 £2,361,923 The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
Pa e12 HAWK CONSERVANCY TRUST LIMITED CONSOLIDATED BALANCE SHEET AS AT 31 JANUARY 2024 COMPANY NUMBER: 04304161 Group Charity Note 2024 2023 2024 2023 FIXED ASSETS Tangible assets Investments 11 12 1.260.855 885.634 736.744 731.356 1.997.599 1.616.990 1.236,520 736,745 1.973,265 856.431 731,357 1,587.788 CURRENT ASSETS Stock Debtors Cash at bank and in hand 13 14 15 88,867 91.368 50.555 80.415 1,333.232 1.496.986 6,533 250,004 1,227,927 6.649 251,065 1,425,718 1,472.654 1.668.769 1.484,464 1.683,432 CREDITORS: Amounts falling due within one year 16 527.816 561.377 520.736 552.287 NET CURRE AssErs 944.838 1.107.392 963.728 1.131,145 CREDITORS: Amounts falling due after more than one year 17 294,512 362.459 294,512 362,459 TOTAL ASSETS £2.647.925 £2.361.923 £2,642.481 £2,356,474 Representtng: RESTRICTED FUNDS 19 506.637 342.559 506,637 342.559 UNRESTRICTED FUNDS 19 2,141,288 2,019,364 2,135,844 2,013,915 TOTAL FUNDS £2.647.925 £2.361.923 £2.642.481 £2.356,474 The accounts are prepared in accordance ryth the special provisions of the Companies Act relating to small companies. For and on behalf (if The Hawk Conservancy Trust Limited - Mr Scott Jones Approved on:
e13 HAWK CONSERVANCY TRUST LIMED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JANUARY 2024 Note 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net cash PTovided by {used in) operating activities 23a (106.045) 298,518 CASH FLOWS FROM INVESTING ACTIVITIES Dividends and interest from investments Proceeds from the sale of propety. plant and equipment Proceeds from the disposal of investments Purchase of investments Purchase of property, plant and equiptnent 27.194 14,625 499.908 131.602 {130.472) {477.265) 301.339 (307.042> (131.957} Net cash provided by (used in) investing activities 50,967 (123.035) CASH FLOWS FROM FINANCING ACTIVITIES Repayment of bank loans Interest paid Tax paid Increase in bank loan (82,944) (21.356) (96.219) (7,127) 250 000 Net cash provided by (used in) financing activities (104.300) 146,654 CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING PERIOD 23b {£159.378) £322.137 CASH BROUGHT FORWARD 1.503.583 1.181,446 CASH CARRIED FORWARD 23c 1.344,205 1,503.583
e14 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACC NT THE YEAR ENDED 31 JANUARY 2024 1. ACCOUNTING POLICIES Accountlng conventlon The accounts have been prepared under the historical cost convention wrth items recognised at cost or transaction value unless otherwise ststed in the relevant notss. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariiies preparing their accounts in acGordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charrties SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011. Hawk Conservancy Trnst Limited is a public benefit entity as defined by FRS 102. b. Group flnanclal statements These financial statements consolidate the results of the charity and tts wholly-owned subsidiary The Hawk Conservancy Trading Cornpany Ltd on a line by line basis. A separate Statement of Financial Activities. or income and expenditure account, for the charity itsetf is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 20Cé. Income Subscriptions are accounted forwhen received but an adjustment is made for that part of the subscription that relates to the period after the year end. Donations are recognised when reived. All other income, including that from commercial trading activities, is recognised when it is probable and is included net of VAT. Grants received in relation to the purthase of red assets are recognised when fixed assets in question are acquired. Where the grants are subject to conditions under which they may be repayable then they are shown as restricted funds and any relevant expendtture (including depreciation} is charged lo these funds. d. Expenditure Expenditure is included on an accruals basis. In accordan with the Charities SORP {FRS 102) (effective January 2019), costs are analysed been the costs of raising funds and the costs of charitable activities (the Gosts of meeting the charty's objects). Where possible, costs have been allocated specifically to a cost heading. However. many costs contribute to both the costs of raising funds and to charitable acitvities. This includes advertising, postage, telephone and card charges. The directors have allocated these costs on the basis of the approximate time that is spent on each activty (with the time being approximately equal). Expenditure includes any VAT that cannot be fully recovered. e. Tangible Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life. Hospital Equipment 251JA straight line Plant & Equipment 15./0 to 33°/o Straight line Fencing and aviaries 10°/o Straight line Fixtures and Fittings 150k to 200A straight line Motor vehicles 20°A straight line Land and buildings 20A to 100fi straight line New aviaries are capitalised but refurbishment of existing aviaries has been treated as repairs. Other capital expenditure of less than £3.000 is not capitalised. Impairment reviews are carried out if evidence comes to light that the recoverable amount of a functional fixed asset is below its net book value. f. Stock Stock is valued at the Iow8r of cost and net reali5able value. g. Oebtors Debtors are measured at Iheir recoverable amounts. Prepayments are valued at the amount prepaid.
e15 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 h. Creditors Creditors are recognised when the charity has an obligation to Iransfer economic benefits to a third party- Creditors are usually recognised at their settlement amount or the amount r1Ved as an advance payment for goods or seTvices it must provide. Financial Instrurnents The charity only has financtal assets and fiabililies of a kind that qualify as basic financial instruments. These are initially recognised at the amount receivable or payable and subsequently measured at their settlement value wrth the exception of the bank loan which is subsequently measured at the carying value plus accrued interest less repayments. The interest charge in the accounts is lCulated using the effective interest rnethod. j. Pension Costs Pension scheme arrangements are operated on the basis of a defined contribution pension scheme on behalf of a majority of employees. Contributions are charged to the income and expenditure account in the period for which they a payable to the scheme. k. Fund Accounting Funds held by the charity fall into the followin9 catewies" (i) Unrestricted general funds= These are funds which can be used. at the discretion of the trustees. in accordance with the charitable objects of the Trust. (li) Restricted funds: These are funds which can only be used for particular purposes wthin Ihe objects of the Trust. Restrictions arise either when they are specified by the donor or when funds are iaised for a specific purpose. The usage of these funds is shown in Note 19. 2. LEGAL STATUS The charity is a company limited by guaranlee and has no share capital. The liability of each member in the event of a winding up is limited to £1. 3. DONATIONS AND LEGACIES 2024 2023 Subscriptions Donations Legacies Designated Donations - Hospital Designated Donakn"ons - IVP Designated Donations - SA Designated Donations - Education Oesignated Donations- RNBP Grants 174.847 85,190 5.956 429,785 42,373 10,400 12,113 7,988 4,292 £772,944 168,943 99,337 10 18,891 23,390 5,600 5,075 29.915 97,040 £448.201 4. INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Admissions Sponsorship Special events 599.484 40,018 605,224 567.995 38,279 642,205 £1,248.479 £1,244.726
e16 HAWK CONSERVANCYTRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 5. INVESTMENT INCOME 2024 2023 Rent receivable Dividend income Bank interest 14,745 12,410 14,784 £41,939 12,345 11,161 3,464 £26,970 6. OTHER INCOME Insurance claim CJRS Grants 100,451 £0 100,451 7. ANALYSIS OF EXPENDuRE BY EXPENDITURE TYPE Current year 2024 2024 2024 2024 2023 Staff costs Direct costs Support costs Total Total Expenditure on raising voluntary income Expenditure on fundraising trading Cost of ralsing funds 137,457 94.946 232,403 177,479 683,571 778,517 683,571 £915,974 643,167 £820,64S 137,457 Conservation Education Research Rehabilitation 85.327 286,148 288.655 262.695 922.825 166.174 3,055 4,159 16,816 190,204 97.169 348,670 331,678 97.169 386,372 325,710 97.169 389,983 325,747 97.169 376,680 342,299 388,676 £1,501,705 £1,325,434 922,825 327.661 1.167.193 2,417.679 2,146,080 Prlor year 2023 2023 2023 2023 Staff costs Direct costs Support costs Total Expendtture on raising voluntsry income Expenditure on fundraising trading Cost of raising funds 95.875 81,604 177,479 643,167 724,771 643,167 £820,646 95.875 Conservation Education Research Rehabilitation 112.772 235.764 235,764 235,764 820,064 130,265 1,305 1,342 17.894 150.806 88,641 331,678 88.641 325,710 88,641 325,747 88.641 342,299 354,564 £1.325.434 820,064 246.681 1.079.335 2,146,080
Pa e17 HAWK CONSERVANCY TRUST LIMrrED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 COMMERCIAL TRADING OPERATIONS AND INVESTMENT IN TRADING SUBSIDIARY The wholly-owned trading subsidiary. The Hawk ConseNancy Trading Company Limited, which is incorporated in England and Wales, pays its profits to the Gharity by gift aid. The Hawk Conservancy Trading Cornpany Limited operates the restaurant, venue hire. events and the gift shop which are situated at the Hawk Conservancy. The charity owns the entire issued share capital of 1 ordinary share of £1 each. A summary of the trading resutts is shown below: 2024 2023 Trading Turnover other income Cost of sales and administrative expenses Interest receivable 641.930 680.780 {683.571) {643.167) 148 Net profit l (loss) Gift aid donation Taxation {40.778) 37,761 {29,979) Retained in the subsidiary (40,778) 7.782 Total income less direct expenses (40,778) 7,782 The assets and liabilities of the subsidiary were: Fixed assets Current assets Creditors: amounts falling due within one year 24,335 224,311 {283,975) 29,203 178.536 (202,290) Total net assets (35.329) 5,449 Aggregate share capital and reseNes £ (35,329) £ 5.449
e18 WKC NSERVANCYTRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 GOVERNANCE COSTS 2024 2023 Legal and professional fees Audit fees Legal fees Trustees, expenses 5,866 45,737 1,479 5,505 1,888 85 £53.082 £7,478 10. STAFF COSTS 2024 2023 Wages and salaries Social securtty costs Pension costs Other staffing costs 1,020,930 82,863 20,181 25,882 935,714 67,149 1S,426 27,805 £1.149.856 £1,047,094 No employee received remuneration amounting to more than £60,000 in either year. The Trustee5 delegate the executive management of the Trust to the Chief Executive Officer who is considered to be the key management personnel of the Charity. The total remuneration cost of key management personnel in the year VRS £61,895 (2023". £60,833). The average number of staff employed during the year VRS 54 (2023: 55). No directors, emoluments were paid during the year (2023: nil). During the year no expenses were paid to trustees (2023: nil). 11. TANGIBLE FIXED ASSETS - GROUP Aviartes and other Buildin Hospital Plant & Fixtures & Motor ui Vehicles Totals COST OR VALUATION At 1 February 2023 Additions Disposals At 31 January 2024 1.392,399 889,796 (448,247) 1,833,948 5.286 69.272 359,582 16,350 12,469 (27,120) (21,643) (3.500) 42,152 350,408 12,850 1,842,889 902.265 (500,510) 2,244,644 5,286 DEPRECIATION At 1 February 2023 On disposals Charge for the year At 31 January 2024 603,409 (23,247) 71,495 3,175 64,911 (27,120) 809 279,200 6,560 (21,643) <3.500) 25,003 3,970 957,255 <75.510) 102,044 983,789 767 651,657 3.942 38,600 282,560 7,030 NET BOOKVALUE At 31 January 2024 £1,182,291 1.344 £3.552 £67,848 £5.820 £1,260,855 At 31 January 2023 £788,990 2,111 £4.361 £80,382 £9,790 £885,634
e19 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 11. TANGIBLE FIXED ASSETS - CHARITY Avtaries and other Buildin Hospital ui Plant & ui menl Fixture5 & Fiitin Motor Vehicles Tolals COST OR VALUATION At 1 February 2023 Addilions Disposals 1.331,543 889.796 (448,247) 5,286 30,905 327,340 16.350 1,711.424 12,469 902.265 (21,843) (3.500) (500,510) (27,120) At 31 January 2024 1,773,092 5,286 3.785 318.166 12,850 2.113,179 DEPRECIATION At 1 February 2023 Charge for the year On disposals 562,113 68,701 (23.24n 3.175 767 31.127 252.018 6,560 854,993 23,738 3,970 97.176 (21.643) (3,500) {75,510) {27,120) At 31 January 2024 607,567 3.942 4,007 254.113 7.030 876,659 NET BOOKVALUE At 31 January 2024 £1,165,525 1,344 (£222) £64.053 5,820 £1,236,520 At 31 January 2023 £769,430 2,111 (£222) £75.322 £9,790 £856,431 12. INVESTMENTS The listed investments. held at market value. and cash managed by Rathbones Group plc, were invested as follows: Group Charity Ltsted Inveslment Listed Investrnent InvestmenLe in subsidia Investments in subsidiary Market value at l Febtuary 2023 Additions isposals at opening market value Investment management fees Movement in cash Unrealised gain on revaluation 731.356 130.472 (136,772) (9,268) 13,645 7.311 731,356 130.472 (136,772) {9,268) 13,645 7,311 Market value at 31 January 2024 £736.744 £736.744 £1 Listed investments Cash deposits £753,082 £10.974 £753.082 £10,974 Cost at 31 January 2024 £764.056 £764.056 £1 The investment in subsidiary consists of 1 ordinary share {100% of the Sha capital) in The Hawk Conservancy Trading Company Limited. 13. STOCKS Group 2024 Charity 2024 2023 2023 Gift and coffee shop stock Wrisl band stock 82,334 6,533 £88.867 84.719 6,649 £91,368 6,533 £6,533 6,649 £6,649
Pa e20 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 14. DEBTORS Group 2024 Charity 2024 2023 2023 Trade debtors Other debtors Amount owed by subsKliary Prepayments 2.945 4.004 6.540 8.854 1,640 6,540 4,004 3,406 214.463 187,130 29.897 53,989 £250,004 £251.065 43.606 £50.555 65,021 £80,415 15. CASH AT BANK Group 2024 Charity 2024 2023 2023 Bank and cash in hand 1,333,232 1,496,986 1,227,927 1,425,718 £1,333,232 £1.496,986 £1,227,927 £1,425,718 16. CREDITORS: Amounts falllng due wlthin one year Group 2024 Charty 2024 2023 2023 Trade creditors Taxes and social securTty Amount owed to subsidiary Prepaid subscriptions Accruals and deferred income Other creditors Bank loans VAT liability Tax liability 61,322 40,723 75,195 33.058 46,791 40,723 12,870 56.543 204,952 74,026 84,831 57,434 S3,058 13,647 55,290 223,S50 68,234 99,828 1,146 56.543 207,797 74,389 84,831 2.024 187 55,290 225,151 68,234 99,828 4,434 187 £527.816 £561,377 £520.736 £552,287 17. CREDITORS: Amounts falling due after rn0 than one year Group 2024 Charity 2024 2023 2023 Variable Rate Bank Loan CBILS Bank loan Fixed Rate Loan 100,000 194,512 150.000 212,459 100,000 194,512 150,000 212,459 £294,512 £362,459 £294.512 £362,459 The CBI LS loan was interest free for 1 year arKI interest is payable at 2.19% over the remaining 3 years.The loan is secured by a legal charge over the leasehold land at Sarson Lane. The fixed rate loan is paYable by 120 equal instalments followed by a single payment of the outstanding amount. I nterest is payable at 7.07%. The loans are repayable as follows: Group 2024 2023 84,831 99,828 84,831 84,831 154,493 204,493 55.188 73.135 £379.343 £462.287 Challty 2024 84,831 84,831 154,493 55,188 £379,343 £482,287 2023 99,828 84,831 204,493 73,135 WFthin one year Between one and two years Beeen two and five years In more than fNe years
Pa e21 HAWK CONSERVANCY TRUST LIMED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 18. DEFERRED INCOME Booking Gift osits Vouchers Membershi Brought forward at 1 February 2023 Released in year Deferred in year Carried forward at 31 January 2024 44.936 152.766 (62,827) {239,081) 56.547 220.165 55.290 {54,842} 56.095 £38,656 £133,850 £56.543 Falling due in less than one year Falling due after more than one year 38,656 133.850 56,543 £38,656 £133.850 £56,543 The gift vouchers carried forward are included in accwals and deferred income. 19. FUNDS Asat 01-Feb 2023 Asat 31-Jan 2024 Losses on enditure Investments Income Ex Unrestricted funds 2.019,364 2,102,429 (1,982,647) 2,142 2,141,288 Restricted funds Restricted Funds comprise the following unexpended balances of donations held to be applied to specific purposes as stated.. Asat 01-Feb 2023 Transfers from Ex enditure unrestricted Asat 31-Jan 2024 Income Intemational Vulture Programme Poison Response Action (IVP) Raptor Nest Box Project Land purchase Restaurant Hospital Hospital Annex Gwent Hawk Rescue PA system Site development Education 55,066 (78.856) {8.447) {46,628) 26.082 8.447 38,640 (10.304) 2,292 7,988 10.304 5.393 4,009 73.871 (5,393) (19,243) 10,449 (3,871) (70,000) 4,785 499,908 499,908 4.437 4,437 237.832 6,713 26,700 4,663 (72,680) (191,852) (64,649) 53,273 £342,559 £599,110 (£299,767) (£135,265) £506,637 Transfers out of restricted funds relate to capital expenditUTe on fixed assets which are for general purposes. Transfers in to restricted funds are to cover costs in excess of income that particular activty.
e22 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 19. FUNDS InvestrTTent movements Ex nditure & transfers Asat 31-Jan 2023 01-Feb 2022 Comparatlve Fund Note Unrestricted funds Income 1,705,790 2,351.795 {1,994,8341 (43,387) 2.019,364 Restricted funds Restricted Funds comprise the followtng unexpended balances of donations held to be applied to specific purposes as stated" Asat 01-Feb 2022 Transfers Donations from ReiVed Ex enditure unrestricted Asat 31-Jan 2023 International Vulture Programme Poison Response Action Red Kites Raptor Nest Box Project Land purchase Restaurant Hospital Hospital Annex PA system Site development Education 25.624 5.095 350 26.787 2,203 (58,046) (8,059) (350) {49,032) 5,635 761 29.915 19,117 10.304 15.862 (1,179) 82.700 4,437 194,583 2,943 10,304 5,393 4,009 73,871 4,437 237,832 6,713 (10,469) {13,703) (8,829) 18,891 70,215 5,075 (26,966) {1,305) £340,719 £153,086 (£176,759) 25,513 £342,559 These funds are held for the following purposes: International Vulture Programme: research and conservation of various vulture species by this programme Potson Response Action (IVP): costs in relation to provision and management of poison response kits Red Kites: the Red Kite survey Raptor Nest Box Project: for the conseNation of British birds of prey. Land purchase: the purchase of additional land by Ihe Trust Restaurant and rehabilitation aviary: the construction of these buildings Site development: improvements to the park land and buildings Hospitsl.. general running of the bird of prey hospitsl Hospital annex: improvements to the bird of prey hospital buildings Education: various educational projects Capitsl fund5 are represented by a propO"0n of the respective assets {fixed assets or cash,. the other funds are represented by cash at bank.
Pa e23 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 20. RELATED PARTY TRANSACTIONS The land on which the Hawk Conservancls premises is situated is leased by the company from Mr A Smith. members of his family and his family trust. Mr Smith was the company's Chief Executive Officer until 31 January 2012. The lease. negotiated at arm's length. carries a rental of £50,000 per annum and is due to expire on 14 February 2089. During the year the charity received donations from trustees to the sum of £4,200. 21. COMMITMENTS Lease Commitments At 31 January 2024. the total of future minimum lease payments under non-cancellable operating leases was as follows: Land 2024 2023 Amounts due within one year Amounts due beeen Iwo and five years Amounts due after five years 50,000 5D,000 200,000 200,000 3,000.000 3,050,000 3.250,000 3,300,000 Equipment 2024 2023 Amounts due within one year Amounts due between two and five years Capttal Commitmgnts At 31 January 2024. the charity was not committed to any capital expenditure that is not provided for in the accounts (2023: £nil). 22 ANALYSIS OF NET ASSETS BETWEEN FUNDS Analysis of net assets between funds - current year Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due within more than one year Unrestricted Restricted Total 1.256.418 736.744 970.454 (527.818) (294.512) 4.437 1.260,855 736.744 502.200 1.472.654 (527.816) (294,512> 506.637 2,647,925 2.141,288 Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Cuent assets Creditors due within one year Credttors due within more than one year Unrestricted Restricted Total 637,972 731,356 1.573.872 (561.377) (362.459) 2.019.364 247,662 885,634 731,356 94.897 1,6S8,769 (561,377) (362,459) 342.559 2.361,923
Pa e24 HAWK CONSERVANCY TRUST LIMITED NOTES TO THE CONSOLIDATED ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 23 NOTES TO THE CASH FLOW STATEMENT a. Reconciliation of net incomel(expendiiure) with net cash f low from operating activities 2024 2023 Net incomel(expenditure> for the porting period (as per the staternent of financial activities) Adjustments for: Depreciation and impairment charges (Gains)Ilosses on investment5 Dividends and interest from investments Interest paid (Profit)Iloss on disposal of fixed assets (Increaseydecrease in stock (Incre2se)Idecrease in debtors Increasel(decrease) in ¢dItorS Donated assets 286,002 315,414 102,044 (2,142) (27,194) 21,356 {74.908) 2,501 29,860 (18,564) (425,000) 88,997 43,387 (14,625) 7,127 (23,760) {32,766) (85,256) Net cash ftow prowded by (used in) operating activities (£106,045) £298,518 b. Analysi5 of changes In net debt Cash at bank and in investment portfolio At 1.2.23 Cash flows Other chan es At 31.1.24 1,503.583 (159,378) 1,344,205 Debt due within one year Debt due after more than one year (99,828) (362,458) (153,780) 149,650 (149,650) 1103,958) 1512,108) £1,041,297 £(313,158) £728,139 c. Analysis of Cash at bank an In fnvestment portfolio 2024 1.333,232 10,974 £1,344,206 2023 1,496,986 6,597 £1.503,583 Cash at bank and in hand Cash held in investment portfolio
Pa e25 HAWK CONSERVANCY TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Includin the Income and Ex enditure Account FOR THE YEAR ENDED 31 JANUARY 2024 ComparatlV8 Consolidat8d Staternent of Flnanclal Actlvities Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 INCOME AND EXPENDITURE INCOME FROM: Donalions and legacies 295,115 153,086 448.201 Charitable activities 1.248.479 1.248.479 other trading activities: Commercial trading operations 680.780 680,780 Investment income 26.970 26,970 Other income 100.451 100,451 Total income 2,351,795 153,086 2.504,881 EXPENDITURE ON: Costs of raising funds Costs of generating voluntary sncome Commercial trading operations 177.479 643,167 177,479 643,167 Charitable activities 1.148.675 176.759 1.325.434 Total expenditure 1,969.321 176,759 2,146.080 Net Incomel (expenditure) before gains and losses on Investments 382,474 (23,673) 358,801 NET GAINSI(LOSSES) ON INVESTMENTS Unrealised Realised (51.060} 7.673 {51,060) 7,673 Net incomel(expenditure) 339,087 (23.673) 315,414 Transfers between funds (25.513) 25.513 Net movement in funds 313,574 1,840 315,414 Reconciliallon of funds: BALANCES AT I FEBRUARY 2022 1.705.790 340.719 2,046.509 BALANCES AT 31 JANUARY 2023 £2.019.364 £342.559 £2.361.923