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

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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

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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 review￿d annually to meet changing conditions if required. The policies set out
in the strategic plan form the guidelines upon which the Chief Executtve Ca￿leS 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.

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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 s￿nifiCant 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 a￿a$. 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. Cu￿ent Biology 33: R1142-R1143

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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 capabIl￿eS.
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 reSoUr￿S 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 reSoUr￿S 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.

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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 ￿Mpan￿S 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:

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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
p￿ctiCe).
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 reqU1￿ments 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 reSp￿t to going con￿rn 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 V￿th 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.

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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 con￿rn. 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 I￿egular4tie$,
including fraud is detailed on the next page:

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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 identif￿d 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 COn￿alment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on th8 FRC
website ( www.frc.org.uklaudit0rsres￿ns1b1lltles} 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.

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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.

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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 LIM￿ED
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 re￿ived.
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 r￿ed 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 be￿en 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 r￿1Ved 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 EXPEND￿uRE 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
Be￿een two and five years
In more than fNe years

Pa
e21
HAWK CONSERVANCY TRUST LIM￿ED
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
Re￿iVed 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 be￿een 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
Cu￿ent 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

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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