Company registration number: 04726698 Charity registration number: 1097807 

## Isles of Scilly Wildlife Trust Limited 

(A company limited by guarantee) 

Annual Report and Financial Statements 

for the Year Ended 31 March 2025 



## **Isles of Scilly Wildlife Trust Limited** 

||**Contents**||
|---|---|---|
|Reference and Administrative Details||1|
|Trustees' Report||2 to 9|
|Statement of Trustees' Responsibilities||10|
|Independent Examiner's Report||11 to 12|
|Statement of Financial Activities||13 to 14|
|Balance Sheet||15 to 16|
|Statement of Cash Flows||17|
|Notes to the Financial Statements||18 to 35|





## **Isles of Scilly Wildlife Trust Limited Reference and Administrative Details** 

## **Charity Registration Number** 

1097807 

**Company Registration Number** 04726698 

The charity is incorporated in England & Wales. 

## **Registered office** 

Trenoweth St Mary's ISLES OF SCILLY TR21 0NS 

## **Principal Office** 

Trenoweth St Mary's ISLES OF SCILLY TR21 0NS 

## **Independent Examiner** 

N Hallam FCCA Crane & Johnston C&J Ltd Chartered Certified Accountants 11 Alverton Terrace PENZANCE Cornwall TR18 4JH 

Page 1 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

The Trustees present their annual report for the year ended 31 March 2025, together with the financial statements for the year which are also prepared to meet the requirements for a directors’ report and financial statements for Companies Act purposes. 

The financial statements comply with the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 

## **Purpose and activities** 

## **Charitable purpose, aims and intended impact** 

For the benefit of the public, to advance, promote and further the conservation, maintenance and protection, in the Isles of Scilly, of: 

- Terrestrial and marine wildlife and their habitats; 

- Places of natural beauty; 

- Places of zoological, botanical, geographical, archaeological, historical or scientific interest. 

To advance the education of the public in the terrestrial and marine wildlife and their habitats and the landscape and archaeological and historical remains of the Isles of Scilly. 

To promote research in all branches of nature study pertaining to the Isles of Scilly and to publish the useful results thereof. 

## **Public benefit statement** 

The trustees consider the Charity Commission’s general guidance on public benefit when setting strategy and undertaking their annual planning cycle, which determines operational aims and objectives. This guidance also informs decision-making by the board of trustees, and the trustees’ review of progress against aims and objectives (undertaken at each board meeting and through an annual review). 

Page 2 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

## **Review of activities incorporating future plans** 

The Trust accomplished a great deal towards our mission of keeping Scilly special over the 2024/25 financial year. This was the second year of the implementation of our five-year Strategy. 

Particular achievements included: 

• Taking seabird research to a higher level 

• A full season of Ringed Plover monitoring and conservation 

• Completion of the three-year Big Scilly Bat Survey 

• Ensuring action for our special landscape through another successful year leading the Isles of Scilly National Landscape partnership 

• Continuing with the development of the Isles of Scilly Seabird Recovery Project 

• Making sure that Round Island remained rat-free, helping the recovery of the island’s breeding Storm Petrel population 

• Working effectively with the St Agnes community to undertake an effective “incursion response” following the discovery of signs of mice on that island 

• As ever, the enormous benefits for wildlife and people that we realise through our role as the manager of most of the islands’ wildlife-rich and accessible land - around half the land above Mean High Water across the archipelago. 

We are proud to see the Isles of Scilly recognised as a core node in the UK Seabird Monitoring Programme. The UK Government provided funding through the marine Natural Capital & Ecosystem Assessment programme to enable more detailed monitoring in 2024, including the development of approaches to recording seabird productivity. The Trust is providing financial support to a University of Exeter doctoral research programme into forage fish availability for Scilly’s breeding seabirds, so Trust staff worked closely on fieldwork in the islands with the PhD student concerned and a cohort of Masters students. 

Over thirty Storm Petrel nest boxes, especially designed for easy access for effective monitoring, were constructed thanks to the hard work of the Wildlife Trust’s Wednesday morning ‘Scilly Shed’ volunteers. They were installed under the direction of an RSPB researcher, with the objective of throwing a light over the foraging ranges of our petrels. 

A seabird ringing group has been set up to allow fuller understanding of our seabird population dynamics. This includes colour-ringing, to allow individual life-histories to be followed through field observations, complemented by survival data from re-trapping adults. Our Seabird Officer is now a trainee ringer. 

Page 3 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

The Trust was delighted to undertake a full season of survey and conservation work for our breeding Ringed Plover population, as part of a national beach-nesting bird conservation programme in partnership with Natural England and the RSPB. This wader was once a common nesting species in beaches all around Britain, but it has not been able to breed successfully in Mainland Cornwall since the 1970s. The population in Scilly has declined, but we are of huge regional importance for the species. 

Recreational disturbance has pushed this species to the brink - the nearest breeding Ringed Plovers outside Scilly are now on Chesil Beach in Dorset, 170 miles away. Our work to ensure their survival in Scilly is crucial, as this isolation means that if they die out in our islands, there is very little chance of them ever being able to recolonise Scilly. 

This year’s work was the first islands-wide focused study of the species, which documented 16 nesting attempts, from around 13 pairs, with a minimum of four chicks fledging. Cordons around nest sites, signage and trail cameras all helped give nests and chicks a better chance, whilst allowing us to learn what was affecting our birds. We believe the breeding success would’ve been even lower without our interventions. Our awareness-raising work was very effective - Ringed Plovers are now a frequent subject for discussion amongst local people in Scilly. This is the foundation which can build long-term recovery in Scilly’s breeding plover numbers. 

Throughout much of 2024, staff and volunteers from the Trust, along with the Isles of Scilly Bat Group, deployed Passive Acoustic Monitoring bat detectors around the islands. This was the final year of the three-year Big Scilly Bat Survey. The distribution and relative abundance of each bat species had been well-established by the 2022 and 2023 surveys which deployed even survey effort in every square kilometre across all the inhabited islands of the archipelago. In 2024, this was complemented by fixing bat detectors at known hotspots on St Martin’s and St Mary’s throughout the main bat flying season, allowing further detail to be gathered. 

Our islands are known for their unique sense of place and tranquillity, as well as being a haunt for species which are sensitive to disturbance. Given this, we were very concerned when an advanced proposal for a new jet ski tour business was announced in March. We worked closely with the Duchy of Cornwall and local community to respond to this; we were very relieved when the proposal was withdrawn as a result of representations that were made. 

Page 4 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

The Trust plays a vital role as the delivery partner for the Isles of Scilly National Landscape (IoSNL) partnership, ensuring that the Area of Outstanding Natural Beauty designation influences everything that happens in the islands. The Trust’s IoSNL Manager coordinates all partners in joined-up action that reflects the special qualities of Scilly. We host the Farmers and Growers Initiative, and work together on the long-term Small is Beautiful ELMS Landscape Recovery plan for a 20-year funded vision for the land management needed by our wildlife and landscape. 

Our island economy is dominated by tourism, with visitors being attracted by all aspects of our rich heritage. The Trust and the IoSNL partnership are at the heart of making sure that recreational disturbance is managed and that we get the investment into good land management for people and wildlife. IoSNL funding helps support the hard work of our Ranger team in keeping over 50 miles of coastal paths in top condition for residents and visitors. Over the year we’ve also identified appropriate horse-riding routes around St Mary's to reduce path damage and balance the needs of wildlife and other users too. 

Scilly’s heritage extends to archaeological sites - Scilly has the greatest density of Scheduled Monuments in England. The Trust’s Community Archaeology Group held ten work tasks, ensuring the protection of ancient sites whilst engaging local people and visitors with our historic landscape, with IoSNL support. The Trust’s new Higher Tier Countryside Stewardship agreement for St Mary’s also ensures additional historic management actions. 

The breeding seabirds on St Agnes and Gugh - especially Manx Shearwaters and Storm Petrels - continue to benefit greatly from the current rodent-free status of the islands. The Kittiwake colony on Gugh produced 11 fledged chicks from 22 nests, the highest productivity seen at this colony since 2010. This is a hopeful sign for a species which is on the verge of extinction as a breeding bird in Scilly. 

In 2024 we also monitored Round Island, making sure it remained rat-free after our rat eradication exercise there in early 2024. However, Storm Petrel counts from Round Island were down from 105 AON (apparently occupied nests) in 2023 to 17 AON this year. This is thought to be due to the impact of the rat incursion that occurred at some point between August and December 2023. 

Inspired by the difference that predator removal makes, we continued developing the Isles of Scilly Seabird Recovery project over the year, which would hugely boost seabird populations through rat eradication on the remainder of the off-isles. The year saw the production of a Feasibility Study into the project, which emphasised that the operation was technically feasible whilst identifying the outstanding challenges to address. An Operational Plan was produced to scope the eradication phase being considered. 

The Seabird Recovery Partnership is being developed by a strong partnership. This governance structure has been improved during the year, but needs further strengthening, given the scale of the challenge ahead. There are very substantial funding requirements for eradication and long-term maintenance of rat-free status. The project also has great complexity, and requiring great commitment from many individuals and organisations. 

The Duchy of Cornwall, RSPB and The Wildlife Trusts are amongst the organisations which are fully engaged with the project, working closely with us to see how we could achieve globally significant benefits for seabirds. There is a growing recognition that the Isles of Scilly represents an appropriate strategic compensation option for marine renewable developments in UK waters which could well fund the project into the long-term future. 

Page 5 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

In late autumn, mice droppings were found around a pallet of goods that had just been brought to St Agnes. We swung into action to make sure that mice did not get established as a result, with an intensive three month mouse-incursion response, which we believe was effective. Small seabirds such as Storm Petrels can be vulnerable to mouse predation. Keeping islands rodent-free also avoids demand for farm cats, which can also prey on seabirds. 

In writing an annual report, it is easy to focus on what’s new and different. However, what’s most important - each and every year - is the Trust’s role as the biggest land-manager on Scilly. Our land comprises 678 hectares above Mean High Water, and a further 566 hectares of the inter-tidal zone - 1,244 hectares (over 3,100 acres) in total. 

Our land management comes down to people and conservation grazing. Our Ranger team are very well-respected for their very visible hard work around the islands. Our growing numbers of cattle and goats are fundamental to keeping land in good condition for wildlife on St Mary’s, whilst local farmers are invaluable graziers for our land on Bryher, St Martin’s and St Agnes. When rangers and volunteers are not clearing paths, or checking on our livestock, then they’re undertaking habitat management to keep Scilly special for our species and habitats. 

Throughout the growing season we’re cutting Bracken with Alpine tractor & flail, walk-behind mowing machines and brush cutters. Invasive plants need hand-pulled where they are encroaching on special habitats and the rarities they support, such as the Dwarf Pansy; the only remaining UK population of this tiny flower is at Rushy Bay on Bryher, where it would have been smothered by Sour Fig if it wasn’t for our efforts. From October through to February, our team are cutting back scrub, keeping Gorse in check and preventing other non-native evergreen shrubs from swamping our land. 

Our open wetland habitats also need constant renewal. When ground conditions allow, we cut blocks of reeds to provide a diversity of conditions. The margins of our pools also get regularly managed to provide open muddy margins for wetland plants, mud-loving invertebrates and wading birds. 

Our wetlands provide a wonderful wildlife watching experience. In August 2024 we invited two powerwheelchair users from Cornwall Rolling Ramblers over to Scilly so they could advise us on how we could make our land more accessible. This led on to our ‘Nature for All’ appeal over winter 2024/25. We were successful in getting support from the public, Charitable Trusts, the Isles of Scilly National Landscape partnership, the Isles of Scilly Bird Group and West Midland Bird Club. This paid for a large airy and accessible replacement Stephen Sussex Hide overlooking Porth Hellick Pool at Higher Moors (St Mary’s). This is one of Britain’s most iconic birding locations, and in 2025 we shall be delivering further access and habitat work here. 

Whilst our office at Trenoweth (deep at the heart of ‘up-country’ St Mary’s) remains the Trust’s main offices, we were delighted to take on the lease of space at Quay House in Hugh Town in March 2025. This is the first time in ten years that the Trust has had a place to engage the public in town. This promises us much opportunity for the 2025 tourist season. 

At the end of 2024, the Trust and our partners, led by Isles of Scilly Community Venture, were successful in our bid to get five-year funding for the Isles of Scilly Community Research Network. The CRN staff team were recruited in winter 24/25, and are now working from Quay House. The Trust has a range of research questions which it is exploring through the CRN. Our premises in town are now the islands’ hub for community-led research. 

Page 6 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

The 2024/25 financial year was a period of consolidation for the organisation. We were able to offer permanent contracts to staff who had previously been taken on for short-term projects. Now that we are operating at a greater scale, the Trust’s management team has been working hard at improving systems. In August 2024 we appointed a Fundraising and Communications Manager. In January 2025 we agreed a Fundraising Strategy, which lays out our approach for resourcing the organisation’s future, so that we can lastingly fulfil our mission. 

Our plans for the 2024/25 year have been largely achieved. This includes the development of our fundraising and communications, and the new programme of work to conserve breeding Ringed Plovers. However, we have not managed to make significant progress towards securing more staff accommodation. Neither did we meet our aspirations to produce a management plan for our land on the off-islands. 

Central to our plans for the 2025/26 financial year are: 

- Developing staff and residential volunteer accommodation 

- Completing the management planning for the off-islands 

- Increasing funding for our land management 

- Building the Ranger team 

- Securing medium-term funding for our species conservation work 

- Continuing the development of the Seabird Recovery Project 

The trustees would like to thank all the many individuals and organisations which donated to the Trust over the year. The Trust gets no funding as of right. We rely on the generosity of visitors, local people and businesses, and grant-making bodies. We are very grateful for their recognition of the enormous value of the islands and the way that the Wildlife Trust work to keep Scilly special. 

## **Financial review** 

The results for the year are shown in the Statement of Financial Activities. They show net incoming resources of £25,681 (2024: £87,592). Together with the reserves brought forward, this gives a total reserves figure of £1,089,072 as at 31st March 2025. Of this balance, restricted funds total £149,544 and designated funds total £619,692, with the balance of £319,836 representing the general funds of the charity. 

## **Reserves policy** 

The reserves of the charity are reviewed at least annually to ensure that they remain at a sufficient level and that they reflect the ongoing financial needs of the charity. The trustees aim for the charity to hold sufficient reserves to cover 12 months unrestricted expenditure to ensure the charity’s viability in the event of lower than budgeted income being received. 

Page 7 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

## **Investment policy** 

The trustees regularly monitor the bank balances held by the charity and balance the need to maintain access to funds for working capital purposes with the opportunity to generate a return on surplus funds in interest bearing deposit accounts. The charity holds funds in a Flagstone charity deposit account as part of this policy. 

## **Structure, governance and management** 

## **Trustees** 

I Allsop 

D Appleton 

A Whitehouse 

B Archer (resigned 16 December 2024) R Teverson (resigned 22 August 2024) 

N Jones 

R Kaye R Eggins (resigned 11 September 2024) 

L Simmonds 

E Eberlein 

R Rose (appointed 17 June 2024) B Hall (appointed 17 June 2024) 

The above trustees constitute directors of the company for Companies Act purposes. 

No trustee has any beneficial interest in the company. 

## **Governing document** 

The governing documents of the charity are the Memorandum and Articles of Association. The Trust is registered as a charity with the Charity Commission. All trustees are members of the company and each guarantee to contribute an amount not exceeding £1 in the event of winding up. 

## **Appointment of Trustees** 

The charity is managed by the trustees who may at any time appoint further trustees from the membership either to fill a casual vacancy or as an additional trustee. Suitable individuals are identified by the existing trustees on the basis of their skills and knowledge and invited to become trustees. New trustees are inducted into the workings of the charity. 

Page 8 



## **Isles of Scilly Wildlife Trust Limited** 

## **Trustees' Report** 

## **Risk management** 

The trustees have assessed the major risks to which the charity is exposed and are satisfied that operating systems are in place which mitigate or minimise these risks. 

The trustees will continue to review potential risks on a regular basis using the risk register. 

## **Related parties** 

None of the trustees receive remuneration or other benefits from their role as a trustee of the charity. 

Any connection between a trustee or senior staff member with any beneficiary of the charity is disclosed to the board of trustees in the same way as any other contractual relationship with a related party. 

Details of related party transactions during the period are disclosed in note 19 of the financial statements. 

## **Pay policy for senior staff** 

The Board consider that the trustees (who are also directors of the charity), along with the senior management team comprise the key management personnel of the charity. These individuals are responsible for directing and controlling, running and operating the charity on a day-to-day basis. All trustees give their time freely and no trustee received any remuneration in the year. Details of related party transactions are disclosed in note 19 of the financial statements. 

The annual report was approved by the trustees of the charity on 6 October 2025 and signed on its behalf by: 



Page 9 



## **Isles of Scilly Wildlife Trust Limited** 

## **Statement of Trustees' Responsibilities** 

The trustees (who are also the directors of Isles of Scilly Wildlife Trust Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Page 10 



## **Isles of Scilly Wildlife Trust Limited** 

## **Independent Examiner's Report to the trustees of Isles of Scilly Wildlife Trust Limited ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner’s statement** 

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of Isles of Scilly Wildlife Trust Limited as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Page 11 



## **Isles of Scilly Wildlife Trust Limited** 

## **Independent Examiner's Report to the trustees of Isles of Scilly Wildlife Trust Limited ('the Company')** 


...................................... N Hallam FCCA Crane & Johnston Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH 

24 October 2025 

Page 12 



## **Isles of Scilly Wildlife Trust Limited** 

## **Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Statement of Financial Activities for the Year Ended 31 March 2025**<br>**(Including Income and Expenditure Account and Statement of Total**<br>**Recognised Gains and Losses)**|**Statement of Financial Activities for the Year Ended 31 March 2025**<br>**(Including Income and Expenditure Account and Statement of Total**<br>**Recognised Gains and Losses)**|
|---|---|
|**Unrestricted funds**<br>**Restricted**<br>**Total**||
|**Note**<br>**Designated**<br>**£**<br>**General**<br>**£**<br>**funds**<br>**£**<br>**2025**<br>**£**||
|**Income and Endowments from:**||
|Donations and legacies<br>3|-<br>96,881<br>20,477<br>117,358|
|Charitable activities<br>4|-<br>127,373<br>465,571<br>592,944|
|Other trading activities<br>5|-<br>1,787<br>-<br>1,787|
|Investment income<br>6|-<br>44,466<br>-<br>44,466|
|Total Income|-<br>270,507<br>486,048<br>756,555|
|**Expenditure on:**||
|Raising funds<br>7|-<br>(54,996)<br>-<br>(54,996)|
|Charitable activities<br>8|-<br>(205,841)<br>(470,906)<br>(676,747)|
|Total Expenditure|-<br>(260,837)<br>(470,906)<br>(731,743)|
|Gains/losses on investment<br>assets|869<br>-<br>-<br>869|
|**Net income**|869<br>9,670<br>15,142<br>25,681|
|Transfers between funds|90<br>45,623<br>(45,713)<br>-|
|**Net movement in funds**|959<br>55,293<br>(30,571)<br>25,681|
|**Reconciliation of funds**||
|Total funds brought forward|618,733<br>264,543<br>180,115<br>1,063,391|
|Total funds carried forward<br>17|619,692<br>319,836<br>149,544<br>1,089,072|



The notes on pages 18 to 35 form an integral part of these financial statements. Page 13 



## **Isles of Scilly Wildlife Trust Limited** 

## **Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

## **Prior year** 

|**Prior year**|**Prior year**|
|---|---|
|**Unrestricted funds**<br>**Restricted**<br>**Total**||
|**Note**<br>**Designated**<br>**£**<br>**General**<br>**£**<br>**funds**<br>**£**<br>**2024**<br>**£**||
|**Income and Endowments from:**||
|Donations and legacies<br>3|-<br>81,054<br>11,731<br>92,785|
|Charitable activities<br>4|-<br>64,536<br>568,248<br>632,784|
|Other trading activities<br>5|-<br>1,628<br>3,000<br>4,628|
|Investment income<br>6|-<br>6,494<br>-<br>6,494|
|Total Income|-<br>153,712<br>582,979<br>736,691|
|**Expenditure on:**||
|Raising funds<br>7|-<br>(38,700)<br>-<br>(38,700)|
|Charitable activities<br>8|-<br>(58,281)<br>(551,740)<br>(610,021)|
|Total Expenditure|-<br>(96,981)<br>(551,740)<br>(648,721)|
|Gains/losses on investment<br>assets|(378)<br>-<br>-<br>(378)|
|**Net (expenditure)/income**|(378)<br>56,731<br>31,239<br>87,592|
|Transfers between funds|(12,790)<br>(53,344)<br>66,134<br>-|
|**Net movement in funds**|(13,168)<br>3,387<br>97,373<br>87,592|
|**Reconciliation of funds**||
|Total funds brought forward|631,901<br>261,156<br>82,742<br>975,799|
|Total funds carried forward<br>17|618,733<br>264,543<br>180,115<br>1,063,391|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17. 

The notes on pages 18 to 35 form an integral part of these financial statements. Page 14 



## **Isles of Scilly Wildlife Trust Limited** 

## **(Registration number: 04726698) Balance Sheet as at 31 March 2025** 

|**(Registration number: 04726698)**<br>**Balance Sheet as at 31 March 2025**|**(Registration number: 04726698)**<br>**Balance Sheet as at 31 March 2025**|
|---|---|
|**Note**<br>**2025**<br>**£**<br>**2024**<br>**£**||
|**Fixed assets**||
|Tangible assets<br>12|172,471<br>158,519|
|Investments<br>13|21,211<br>20,342|
||193,682<br>178,861|
|**Current assets**||
|Stocks|500<br>500|
|Debtors<br>14|251,771<br>146,056|
|Cash at bank and in hand|732,490<br>790,433|
||984,761<br>936,989|
|**Creditors: Amounts falling due within oneyear**<br>15|(89,371)<br>(52,459)|
|**Net current**assets|895,390<br>884,530|
|**Net**assets|1,089,072<br>1,063,391|
|**Funds of the charity:**||
|**Restricted income funds**||
|Restricted funds|149,544<br>180,115|
|**Unrestricted income funds**||
|Designated Funds|619,692<br>618,733|
|General Funds|319,836<br>264,543|
|Total unrestricted funds|939,528<br>883,276|
|**Total funds**<br>17|1,089,072<br>1,063,391|



For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. 

The notes on pages 18 to 35 form an integral part of these financial statements. Page 15 



## **Isles of Scilly Wildlife Trust Limited** 

## **(Registration number: 04726698) Balance Sheet as at 31 March 2025** 

The financial statements on pages 13 to 35 were approved by the board of trustees and authorised for issue on 6 October 2025, and signed on their behalf by: 



The notes on pages 18 to 35 form an integral part of these financial statements. Page 16 



## **Isles of Scilly Wildlife Trust Limited** 

## **Statement of Cash Flows for the Year Ended 31 March 2025** 

|**Statement of Cash Flows for the Year Ended 31 March 2025**|**Statement of Cash Flows for the Year Ended 31 March 2025**|
|---|---|
|**Note**<br>**2025**<br>**£**<br>**2024**<br>**£**||
|**Cash flows from operating activities**||
|Net cash income|25,681<br>87,592|
|**Adjustments to cash flows from non-cash items**||
|Depreciation|28,264<br>30,538|
|Investment income|(44,466)<br>(6,494)|
|Loss on disposal of tangible fixed assets|-<br>486|
|Revaluation of investments|(869)<br>378|
||8,610<br>112,500|
|**Working capital adjustments**||
|Increase in debtors<br>14|(105,715)<br>(96,777)|
|Increase in creditors<br>15|36,912<br>7,859|
|Net cash flows from operatingactivities|(60,193)<br>23,582|
|**Cash flows from investing activities**||
|Interest received|43,202<br>5,293|
|Acquisitions of tangible assets|(42,216)<br>(64,514)|
|Proceeds from sale of tangible assets|-<br>1,114|
|Dividend income|1,264<br>1,201|
|Net cash flows from investingactivities|2,250<br>(56,906)|
|Net decrease in cash and cash equivalents|(57,943)<br>(33,324)|
|Cash and cash equivalents at 1 April|790,433<br>823,757|
|Cash and cash equivalents at 31 March|732,490<br>790,433|



All of the cash flows are derived from continuing operations during the above two periods. **Analysis of changes in net funds** 

The trust had no debt during the year. 

The notes on pages 18 to 35 form an integral part of these financial statements. Page 17 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **1 Charity status** 

The charity is limited by guarantee, incorporated in England & Wales. 

The address of its registered office is: Trenoweth St Mary's ISLES OF SCILLY TR21 0NS 

Number of trustees 2025 - 9 (2024 - 12) 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Basis of preparation** 

Isles of Scilly Wildlife Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

## **Income and endowments** 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. 

Page 18 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **Donations and legacies** 

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. 

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. 

## **Grants receivable** 

Capital based conservation grants are credited to incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund. Revenue based conservation grants are credited to incoming resources when they are receivable, unless they relate to a specific future period, in which case they are deferred. 

## **Investment income** 

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. 

## **Expenditure** 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. 

The charity is not VAT registered and therefore input VAT is included within the full expense to which it relates. 

## **Raising funds** 

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. 

## **Charitable activities** 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

Page 19 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **Governance costs** 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **Tangible fixed assets** 

Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

|**Asset class**|**Depreciation method and rate**|
|---|---|
|Leasehold land & buildings|Term of lease|
|Plant & Equipment|25% per annum|
|Motor Vehicles|20% per annum|
|Livestock|25% per annum after held at cost for<br>6 years|
|Hide|10% per annum straight line|



## **Fixed asset investments** 

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. 

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. 

## **Stock** 

Stock is valued at the lower of cost and net realisable value. 

Page 20 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **Trade debtors** 

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## **Trade creditors** 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. 

## **Fund structure** 

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. 

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

## **Financial instruments** 

## **Classification** 

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. 

Page 21 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **Recognition and measurement** 

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. 

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 

## **Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employees services are received. 

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **3 Income from donations and legacies** 

|**3**<br>**Income from donations and legacies**||
|---|---|
||**Unrestricted**<br>**funds**<br>**Restricted**<br>**Total**|
||**General**<br>**funds**<br>**funds**|
||**£**<br>**£**<br>**£**|
|Donations and legacies;||
|Donations|80,051<br>20,477<br>100,528|
|Legacies|3,159<br>-<br>3,159|
|Gift aid reclaimed|13,671<br>-<br>13,671|
|**Total for 2025**|96,881<br>20,477<br>117,358|
|**Total for 2024**|81,054<br>11,731<br>92,785|



Page 22 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **4 Income from charitable activities** 

|**4**<br>**Income from charitable activities**|**4**<br>**Income from charitable activities**|
|---|---|
|**Unrestricted**<br>**funds**<br>**Restricted**<br>**Total**<br>**Total**||
|**General**<br>**£**<br>**funds**<br>**£**<br>**2025**<br>**£**<br>**2024**<br>**£**||
|Rural Payments Agency -<br>Delinked Payment Scheme<br>27,202<br>-<br>27,202<br>29,497||
|Council of the Isles of<br>Scilly/Defra<br>3,746<br>258,152<br>261,898<br>143,974||
|Duchy of Cornwall<br>27,392<br>-<br>27,392<br>25,000||
|Royal Society of Wildlife Trusts<br>-<br>17,841<br>17,841<br>39,484||
|Innovate UK (IoS Community<br>Research Network)<br>-<br>3,470<br>3,470<br>12,393||
|Natural England<br>-<br>84,210<br>84,210<br>305,219||
|RSPB<br>-<br>22,012<br>22,012<br>-||
|Margaret and John Campbell<br>Charitable Trust<br>-<br>1,320<br>1,320<br>2,000||
|Crowdfunder/Aviva (goat<br>appeal)<br>-<br>-<br>-<br>7,097||
|Royal Botanical Gardens (seed<br>harvesting)<br>-<br>-<br>-<br>750||
|Other Income<br>1,470<br>46<br>1,516<br>4,289||
|Cornwall Council (Local Nature<br>Recovery Strategy)<br>-<br>3,230<br>3,230<br>1,132||
|Cornwall Council Community<br>Levelling-up (Community Ranger<br>project)<br>-<br>28,698<br>28,698<br>6,925||
|Farming in Protected<br>Landscapes<br>-<br>25,676<br>25,676<br>50,024||
|Phoenix Tanner Fund<br>-<br>4,000<br>4,000<br>-||
|Harold Wilson Charitable<br>Settlement<br>-<br>10,000<br>10,000<br>5,000||
|Isles of Scilly Community<br>Venture CIC<br>-<br>2,508<br>2,508<br>-||
|DWP - Access to work<br>-<br>4,408<br>4,408<br>-||
|Noble Caledonia Charitable Trust<br>12,000<br>-<br>12,000<br>-||
|English Heritage|2,150<br>-<br>2,150<br>-|
|Higher Tier Countryside|53,413<br>-<br>53,413<br>-|
|<br>Stewardship||
||127,373<br>465,571<br>592,944<br>632,784|



Page 23 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **5 Income from other trading activities** 

|**5**<br>**Income from other trading activities**|**5**<br>**Income from other trading activities**|
|---|---|
|**Unrestricted**<br>**funds**<br>**Restricted**<br>**Total**||
|**General**<br>**£**<br>**funds**<br>**£**<br>**funds**<br>**£**||
|Events income;||
|Other events income<br>1,787<br>-<br>1,787||
|**Total for 2025**<br>1,787<br>-<br>1,787||
|**Total for 2024**<br>1,628<br>3,000<br>4,628||
|**6**<br>**Investment income**||
|**Unrestricted**<br>**funds**<br>**Total**<br>**Total**||
||**General**<br>**2025**<br>**2024**|
||**£**<br>**£**<br>**£**|
|Interest Receivable|43,202<br>43,202<br>5,293|
|Other income from fixed asset investments|1,264<br>1,264<br>1,201|
||44,466<br>44,466<br>6,494|
|**7**<br>**Expenditure on raising funds**||
||**Unrestricted**<br>**funds General**<br>**Total 2025**<br>**Total 2024**|
||**£**<br>**£**<br>**£**|
|Salaries and wages|40,249<br>40,249<br>37,249|
|Fundraisingand Publicity|14,747<br>14,747<br>1,451|
||54,996<br>54,996<br>38,700|
|||
|**8**<br>**Expenditure on charitable activities**||
||**Total**<br>**Total**|
||**Note**<br>**2025**<br>**£**<br>**2024**<br>**£**|
|Salaries and wages|388,094<br>343,495|
|Estate management, tools and equipment|24,908<br>24,293|
|Rent, rates and repairs|6,319<br>6,963|
|Telephone|3,493<br>3,709|
|Insurance|4,575<br>4,999|



Page 24 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

||**Total**<br>**Total**|
|---|---|
|**Note**|**2025**<br>**2024**|
||**£**<br>**£**|
|Light and heat|708<br>6,036|
|Travel|42,234<br>60,520|
|Printing, postage and stationery|1,910<br>2,273|
|Motor expenses|16,681<br>6,809|
|Training costs|8,457<br>7,125|
|Subscriptions|6,895<br>8,953|
|Computer costs|13,862<br>17,212|
|Depreciation|28,264<br>30,538|
|Loss on disposal of fixed assets|-<br>486|
|Governance costs<br>9|11,680<br>15,273|
|Sundry expenses|10,759<br>3,565|
|Supplies|4,282<br>13,678|
|Livestock|58<br>3,328|
|Professional and consultancy fees|85,175<br>32,894|
|HR|1,733<br>1,450|
|Accountancy|14,865<br>15,204|
|Bank Charges|821<br>1,218|
|Advertising|974<br>-|
||676,747<br>610,021|



## **9 Analysis of governance and support costs** 

|**Governance costs**|**Unrestricted**<br>**funds**<br>**Total**<br>**Total**|
|---|---|
||**General**<br>**2025**<br>**2024**|
||**£**<br>**£**<br>**£**|
|Staff costs||
|Wages and salaries|6,034<br>6,034<br>8,993|
|Independent examiner's fees|3,000<br>3,000<br>3,360|
|Trustees expenses|1,210<br>1,210<br>1,492|
|Legal fees|-<br>-<br>420|
|Othergovernance costs|1,436<br>1,436<br>1,008|
||11,680<br>11,680<br>15,273|



Page 25 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **10 Trustees remuneration and expenses** 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year or prior year. 

## **11 Staff costs** 

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 

||**2025**<br>**2024**|
|---|---|
||**No**<br>**No**|
|Average number of employees|15<br>14|



## **Staff costs and numbers** 

|**Staff costs and numbers**||
|---|---|
||**2025**<br>**2024**|
||**£**<br>**£**|
|Salaries and wages|388,922<br>354,633|
|National Insurance payments|29,655<br>24,576|
|Pension costs|14,317<br>10,528|
||432,894<br>389,737|



The total remuneration of the key management personnel (senior staff) for the year was £158,291 (2024: 138,445). 

There were no employees whose annual remuneration was more than £60,000. 

Page 26 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **12 Tangible fixed assets** 

|**12**<br>**Tangible fixed assets**|**12**<br>**Tangible fixed assets**|
|---|---|
|**Leasehold**<br>**Land and**<br>**buildings**<br>**£**<br>**Plant and**<br>**equipment**<br>**£**<br>**Motor**<br>**vehicles**<br>**£**<br>**Hide**<br>**£**<br>**Livestock**<br>**£**<br>**Total**<br>**£**||
|**Cost**||
|At 1 April<br>2024<br>139,511<br>180,569<br>59,281<br>-<br>2,000<br>381,361||
|Additions<br>-<br>-<br>-<br>39,803<br>2,413<br>42,216||
|At 31 March<br>2025<br>139,511<br>180,569<br>59,281<br>39,803<br>4,413<br>423,577||
|**Depreciation**||
|At 1 April<br>2024<br>58,033<br>105,528<br>59,281<br>-<br>-<br>222,842||
|Charge for<br>theyear<br>5,524<br>18,760<br>-<br>3,980<br>-<br>28,264||
|At 31 March<br>2025<br>63,557<br>124,288<br>59,281<br>3,980<br>-<br>251,106||
|**Net book value**||
|At 31 March|75,954<br>56,281<br>-<br>35,823<br>4,413<br>172,471|
|2025||
|At 31 March|81,478<br>75,041<br>-<br>-<br>2,000<br>158,519|
|2024||



Page 27 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **13 Fixed asset investments** 

|**13**<br>**Fixed asset investments**||
|---|---|
||**Listed**|
||**investments**|
||**£**|
|**Cost or Valuation**||
|At 1 April 2024|20,342|
|Revaluation|869|
|At 31 March 2025|21,211|
|**Net book value**||
|At 31 March 2025|21,211|
|At 31 March 2024|20,342|



The historical cost as at 31 March 2025 was £4,450. 

## **14 Debtors** 

|**14**<br>**Debtors**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Trade debtors|89,552|75,250|
|Prepayments|12,651|-|
|Other debtors|149,568|70,806|
||251,771|146,056|



## **15 Creditors: amounts falling due within one year** 

|**15**<br>**Creditors: amounts falling due within one year**||
|---|---|
||**2025**<br>**2024**|
||**£**<br>**£**|
|Trade creditors|72,357<br>37,128|
|Other taxation and social security|6,566<br>(1,000)|
|Other creditors|472<br>1,071|
|Accruals|9,976<br>15,260|
||89,371<br>52,459|



Page 28 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **16 Commitments** 

## **Other financial commitments** 

The total amount of other financial commitments not provided in the financial statements was £1,185 (2024 - £1,185) 

## **17 Funds** 

|**17**<br>**Funds**|||||||
|---|---|---|---|---|---|---|
||||||**Other**||
||**Balance at**||||**recognised**|**Balance at**|
||**1 April**|**Incoming**|**Resources**||**gains/**|**31 March**|
||**2024**|**resources**|**expended**|**Transfers**|**(losses)**|**2025**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||||
|**General fund**|264,543|270,507|(260,837)|45,623|-|319,836|
|**Designated**|||||||
|Capital|28,610|-|-|-|-|28,610|
|Fixed Assets|8,389|-|-|-|-|8,389|
|Legacies|355,437|-|-|-|-|355,437|
|Running Costs|210,495|-|-|-|-|210,495|
|Revaluation Reserve|15,802|-|-|90|869|16,761|
||618,733|-|-|90|869|619,692|
|**Total unrestricted**|||||||
|**funds**|883,276|270,507|(260,837)|45,713|869|939,528|
|**Restricted funds**|||||||
|Trenoweth Building|||||||
|(Depreciation)|59,009|-|(4,000)|-|-|55,009|
|RSWT - Carbon|||||||
|Reduction|||||||
|(Depreciation)|12,539|-|(1,290)|-|-|11,249|
|DEFRA Farming in|||||||
|Protected|||||||
|Landscapes|||||||
|(Depreciation)|46,885|-|(11,721)|-|-|35,164|
|IoS National|||||||
|Landscape|-|235,332|(187,404)|(45,129)|-|2,799|
|Nextdoor Nature|-|17,841|(12,932)|(4,909)|-|-|
|Seabird Recovery|||||||
|Project|59,491|64,772|(105,395)|(18,868)|-|-|



Page 29 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

|**Notes to the Financial Statements for the Year Ended 31 March 2025**|**Notes to the Financial Statements for the Year Ended 31 March 2025**|
|---|---|
|**Balance at**<br>**1 April**<br>**2024**<br>**£**<br>**Incoming**<br>**resources**<br>**£**<br>**Resources**<br>**expended**<br>**£**<br>**Transfers**<br>**£**<br>**Other**<br>**recognised**<br>**gains/**<br>**(losses)**<br>**£**<br>**Balance at**<br>**31 March**<br>**2025**<br>**£**||
|Community Research<br>Network<br>-<br>5,978<br>(5,978)<br>-<br>-<br>-||
|Marine Natural<br>Capital & Ecosystem<br>Assessment (seabird<br>monitoring)<br>-<br>34,250<br>(49,696)<br>15,446<br>-<br>-||
|Community Ranger<br>-<br>28,698<br>(39,183)<br>10,485<br>-<br>-||
|Goats<br>2,191<br>-<br>(2,688)<br>497<br>-<br>-||
|Local Nature<br>Recovery Strategy<br>-<br>3,230<br>(2,364)<br>(866)<br>-<br>-||
|Access to Work<br>-<br>4,408<br>(4,558)<br>150<br>-<br>-||
|Bats<br>-<br>3,000<br>(3,000)<br>-<br>-<br>-||
|Higher Moors Appeal<br>-<br>71,339<br>(26,016)<br>-<br>-<br>45,323||
|Ringed Plovers|-<br>17,200<br>(14,681)<br>(2,519)<br>-<br>-|
||180,115<br>486,048<br>(470,906)<br>(45,713)<br>-<br>149,544|
|**Total funds**|1,063,391<br>756,555<br>(731,743)<br>-<br>869<br>1,089,072|



Page 30 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **Prior Year** 

|**Prior Year**||||||||
|---|---|---|---|---|---|---|---|
|||||||**Other**||
||**Balance**|**at**||||**recognised**|**Balance at**|
||**1 April**||**Incoming**|**Resources**||**gains/**|**31 March**|
||**2023**||**resources**|**expended**|**Transfers**|**(losses)**|**2024**|
||**£**||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||||
|**General**||||||||
|General Funds|261,156||153,712|(96,981)|(53,344)|-|264,543|
|**Designated**||||||||
|Capital|41,400||-|-|(12,790)|-|28,610|
|Fixed Assets|8,389||-|-|-|-|8,389|
|Legacies|355,437||-|-|-|-|355,437|
|Running Costs|210,495||-|-|-|-|210,495|
|Revaluation Reserve|16,180||-|-|-|(378)|15,802|
||631,901||-|-|(12,790)|(378)|618,733|
|**Total unrestricted**||||||||
|**funds**|893,057||153,712|(96,981)|(66,134)|(378)|883,276|
|**Restricted funds**||||||||
|Council of the Isles||||||||
|of Scilly - AONB||-|145,974|(146,032)|58|-|-|
|Nextdoor Nature||-|39,484|(39,484)|-|-|-|
|Seabird Survey||-|71,591|(92,791)|21,200|-|-|
|Trenoweth Building||||||||
|(Depreciation)|63,009||-|(4,000)|-|-|59,009|
|St Helens Project||-|107,528|(109,048)|1,520|-|-|
|RSWT - Carbon||||||||
|Reduction|13,829||-|(1,290)|-|-|12,539|
|Business Energy||||||||
|Efficiency Scheme||904|-|(904)|-|-|-|
|Seabird Recovery||||||||
|Project|5,000||102,000|(66,732)|19,223|-|59,491|
|DEFRA Farming in||||||||
|Protected||||||||
|Landscapes||-|50,024|(15,929)|12,790|-|46,885|
|Community Research||||||||
|Network||-|12,393|(12,393)|-|-|-|
|Green Growth Fund||-|6,731|(13,596)|6,865|-|-|



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## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

||**Balance at**<br>**1 April**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**Other**<br>**recognised**<br>**gains/(loss**<br>**es)**<br>**Balance at**<br>**31 March**<br>**2024**|
|---|---|
||**£**<br>**£**<br><br>**£**<br>**£**<br> <br>**£**<br>**£**|
|Recreational|-<br>23,700<br>(23,878)<br>178<br>-<br>-|
|Disturbance Project||
|Marine Natural|<br> <br>-<br>8,400<br>(8,714)<br>314<br>-<br>-|
|Capital & Ecosystem||
|Assessment (seabird||
|monitoring)||
|Community Ranger|-<br>6,925<br>(10,911)<br>3,986<br>-<br>-|
|Goats|-<br>7,097<br>(4,906)<br>-<br>-<br>2,191|
|Local Nature|-<br>1,132<br>(1,132)<br>-<br>-<br>-|
|RecoveryStrategy||
||82,742<br>582,979<br>(551,740)<br>66,134<br>-<br>180,115|
|**Total funds**|975,799<br>736,691<br>(648,721)<br>-<br>(378)<br>1,063,391|



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## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

The Specific purposes for which the funds are to be applied are as follows: 

## **Designated Funds** 

Fixed Assets - Funds allocated for the continued replacement of fixed assets. 

Capital - Funds designated for any spend of a capital nature as and when required. 

Running costs - Funds which will cover 6 months running costs in the event of income levels being severely affected on a mid-long term basis. 

Project development - Set aside income received from legacies to enable trustees to explore future projects to support the Trust's sustainability in the long term, including fundraising and staff and volunteer accommodation. 

## **Restricted funds** 

Trenoweth - This fund represents the grant paid to the Trust to meet expenditure on the Trenoweth premises and reduces year on year by the depreciation charge. 

RSWT - Carbon Reduction - The Wildlife Trusts secured funding from the People's Postcode Lottery to support a collective approach to carbon accounting. The funding has enabled the Trust to deliver a Carbon Reduction Strategy, including purchase of solar panels on the roof of the Trust office, the value of which are reduced year on year by the costs of depreciation. 

Business Energy Efficiency Scheme (BEES) - awarded by the Council of the Isles of Scilly on behalf of Cornwall and Isles of Scilly Local Enterprise Partnership to support the Trust with the purchase of battery operated equipment to replace older less energy efficient equipment. It will be reduced year on year by the costs of depreciation. 

IoS National Landscapes (previously Council of the Isles of Scilly - AONB) - Funding from Defra and local partners is provided to the Trust through a Grant in Aid agreement from the Council of the Isles of Scilly, so the Wildlife Trust can perform its role as delivery partner for the IoS National Landscape partnership, undertaking a wide range of work to maintain and improve this protected landscape. 

Next Door Nature - Next Door Nature is bringing communities together to help nature flourish where they live and work. This work is funded by The National Lottery Heritage Fund, provided through the Royal Society of Wildlife Trusts. It enables us to provide people with the advice and support they need to help nature on their doorstep, and leave a lasting natural legacy to mark The Queens Platinum Jubilee. 

Seabird Survey - A full survey of the breeding seabirds of the Isles of Scilly Special Protection Area was undertaken in 2023, funded principally by Natural England, with further support through the IoS National Landscapes partnership. 

St Helen's project - funding from Natural England, with significant in-kind support from Tresco Island Limited and RSPB, enabled a significant rat eradication trial on St Helen's and Round Island in winter 2023/24. This project was separate to, but in support of, the development of the Seabird Recovery Project. 

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## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

DEFRA Farming in Protected Landscapes - In 2023/24, a FiPL grant was received to purchase a range of equipment and machinery to help us manage our extensive tenancy for people and wildlife. This fund reduces year on year in line with depreciation. 

Seabird Recovery Project - funding from Natural England, supplied through RSPB under the Action for Birds in England Programme, is enabling the Isles of Scilly Wildlife Trust to work with partners to establish the feasibility of rat eradication on Bryher, Tresco, St Martin's and the surrounding uninhabited islands, to allow a recovery of the breeding seabirds which are currently greatly limited by rat predation. This work has been match-funded by contributions from the Peter Smith Charitable Fund for Nature, and the Lord JW Wilson Charitable Settlement. 

Community Research Network - funding from the UK Research & Innovation government funding agency has enable us to work with the Isles of Scilly Community Venture and other partners to identify how further funding for place-based research could bring particular benefits to the sustainability of the Isles of Scilly. 

Green Growth Fund - this Government funding stream, managed by Cornwall Council, enabled the Trust to deliver the Visitor Giving Innovations project, through which the Trust introduced new approaches to getting donations, and a volunteer engagement programme on the Scillonian III with the assistance of the Isles of Scilly Steamship Group. 

mNCEA - marine Natural Capital & Ecosystems Assessment - the marine element of the UK Government NCEA programme has enabled Natural England to support the development of seabird survey and monitoring in the Isles of Scilly. 

Community Ranger - The UK Government Community Levelling Up Programme, managed by Cornwall Council, supported the appointment of a new Community Ranger role to the Wildlife Trust, and a linked programme of training and development of the Trust office to provide a community facility. 

Goats - A public appeal through Crowdfunder, with matched support from Aviva, raised funds to enable the introduction of the rare breed English Goats to Scilly, where they now help control scrub on our land. 

Local Nature Recovery Strategy - Cornwall Council, as lead agency for the Cornwall and Isles of Scilly Local Nature Recovery Strategy, supported the part-time employment of a member of Wildlife Trust staff to help develop the strategy. 

Access to Work - Statutory funding to support needs of individual members of staff. 

Bats - 2024/25 saw the third and final year of the Great Scilly Bat survey, using passive acoustic monitors to establish the detailed distribution and activity patterns of bats across the islands. 

Higher Moors Appeal - A programme of work to improve the physical accessibility, including a new hide, and linked habitat creation works at the Higher Moors wetland on St Mary's. 

Ringed Plovers - A programme of survey, community engagement and other conservation measures to protect the regionally important breeding population of this small beach-nesting wading bird. 

Page 34 



## **Isles of Scilly Wildlife Trust Limited** 

## **Notes to the Financial Statements for the Year Ended 31 March 2025** 

## **18 Analysis of net assets between funds** 

|||||**Total funds at**|
|---|---|---|---|---|
||**Unrestricted funds**||**Restricted**|**31 March**|
||**General**|**Designated**|**funds**|**2025**|
||**£**|**£**|**£**|**£**|
|Tangible fixed assets|35,226|-|137,245|172,471|
|Fixed asset investments|4,450|16,761|-|21,211|
|Current assets/liabilities|280,160|602,931|12,299|895,390|
|Total net assets|319,836|619,692|149,544|1,089,072|
||||||
|||||**Total funds at**|
||**Unrestricted funds**||**Restricted**|**31 March**|
||**General**|**Designated**|**funds**|**2024**|
||**£**|**£**|**£**|**£**|
|Tangible fixed assets|40,086|-|118,433|158,519|
|Fixed asset investments|4,540|15,802|-|20,342|
|Current assets/liabilities|219,917|602,931|61,682|884,530|
|Total net assets|264,543|618,733|180,115|1,063,391|



## **19 Related party transactions** 

During the year 3 trustees (2024: 4) were reimbursed travel expenses that were incurred on behalf of the charity. The total amount of expenses reimbursed was £548 (2024: £1,265). 

Hillside Farm - tenanted by a trustee and their family. Amounts totalling £1,682 (2024: £3,653) were paid to Hillside Farm in the year for the Trust's contracted path-cutting on the Wildlife Trust land (and also in the prior year, purchase of cattle). There were no amounts due as at 31st March 2025 (2024: £Nil). 

G Eggins - husband of R Eggins (trustee). Electrical testing carried out in the year on behalf of the Trust. £144 was paid in respect of this. There were no amounts due as at 31st March 2025. 

A Fuller Engineering - partner of B Hall (trustee). Motor engineering work carried out on behalf of the Trust. £4,081 was paid in the year. There were no amounts due as at 31st March 2025. 

Isle of Scilly Community Venture - run by partner of staff member. Car rental charges were paid to the above totalling £1,104 in the year. There were no amounts due as at 31st March 2025. 

Scilly Tech - owned by partner of staff member. IT support was provided totalling £1,209 in the year. There were no amounts due as at 31st March 2025. 

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