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2023-03-31-accounts

Registered Charity Number: 1099222

THE ECOLOGY TRUST

TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

Goldwins Limited Chartered Accountants & Registered Auditors 75 Maygrove Road West Hampstead London NW6 2EG

The Ecology Trust

Index

Year ended 31 March 2023

Pages
Legal and administrative details 1
Trustees’ Annual Report 2 - 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Financial Statements 11 - 16

The Ecology Trust Reference and Administrative Details

Year ended 31 March 2023

Full name of Charity The Ecology Trust
Governing document Settlement dated 4 April 2003 between The Goldsmith Foundation
and the Trustees (listed below).
Full name of Charity The Ecology Trust
Charity Registration number 1099222
Date of first registration 1 September 2003
Description of constitution The Trustees shall hold the trust fund and its income upon trust to
apply them for all charitable purposes and in particular to promote
sustainable development for the benefit of the public by the
preservation, conservation and the protection of the environment, the
prudent use of natural resources, the relief of poverty and the
improvement of the conditions of life in socially and economically
disadvantaged communities.
Chair Charles Filmer
Hon. Secretary Jon Cracknell
Treasurers AlTi Global
Trustees Charles Filmer (Chair)
A B H Goldsmith
B J Goldsmith
C Colbert
Registered Address 48 Kidmore Road
Caversham
Reading, RG4 7LU
Bankers Triodos Bank NV
Deanery Road
Bristol, BS1 5AS
Accountants Goldwins Limited
75 Maygrove Road
West Hampstead
London, NW6 2EG

1

The Ecology Trust Trustees’ Annual Report Year ended 31 March 2023

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Charities SORP FRS 102 (effective from 1 January 2015).

1) STRUCTURE, GOVERNANCE AND MANAGEMENT

a) Constitution

The Charity’s Constitution was adopted on 4 April 2003 in the form of a Trust Deed.

b) Recruitment of trustees

The Trust Deed states that the Charity shall have at least three and not more than seven trustees. Trustees may either be appointed by the Goldsmith Foundation, with whom the original trustees entered into the Settlement dated 4 April 2003, or by the existing trustees who may co-opt two further trustees providing the total number of trustees does not exceed seven.

c) Induction of trustees

New trustees are introduced to the existing trustees and then take part in trustee meetings.

d) Trustees’ responsibilities

The Charity’s trustees are responsible for preparing financial statements for each financial year that give a true and fair view of the Charity’s incoming resources and application of resources during the year and its state of affairs at the end of the year.

In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and provisions of the Settlement dated 4 April 2003. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

e) Organisation

The current members of the Board of Trustees are set out on page 1.

During the Covid-19 pandemic the trustees began to make more use of email and online calls to take decisions. This practice has continued since the pandemic subsided, complemented by face-to-face meetings. The

2

The Ecology Trust Trustees’ Annual Report Year ended 31 March 2023

Secretary remains responsible for day-to-day organisation and reports to the trustees. Applications for funding of projects are reviewed by the Board of Trustees for approval.

f) Risk management

The trustees have examined the major strategic, business and operational risks to which the Trust is exposed, particularly those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate its exposure to them.

A risk register is in place and a risk review officer has been appointed to periodically review the systems and procedures and ensure they still meet the needs of the charity.

2) OBJECTIVES AND ACTIVITIES

a) The objects of the Charity

The objects of the Charity are as follows:

“The trustees shall hold the Trust fund and its income upon trust to apply them for all charitable purposes and in particular to promote sustainable development for the benefit of the public by:-

Sustainable development to mean development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 and referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trusts aim and objectives, planning future activities and setting the grant making policy for the year.

b) The aims of the Charity

The charity is a grant-making Trust. Grants will be made both to charities and also to non-charities in support of work that advances the charitable purposes of the Trust. As indicated below, the principal objective of the Trust, reflected in its name, is to support ecological and environmental initiatives, particularly, but by no means exclusively, around the issues of agriculture, tropical forests, and climate change.

The Trust will seek to support projects that prevent environmental degradation and that change values and attitudes, both amongst the public and with people in positions of power. In general the Trust seeks to address the causes of the environmental crisis that we face, and to tackle these, rather than to make the consequences of this crisis easier to live with.

Subject to the above, the Trust intends to support work that others may find hard to fund, perhaps because it breaks new ground, requires core funding, or appears risky in the sense that the outcomes cannot be completely guaranteed. The Trust may also take its own initiatives where it believes that new thinking is required or where it believes that there are important opportunities that are being missed. Because the Trust does not have an endowment of its own its main sources of funding are monies raised at fund-raising dinners, and grants provided by other trusts and foundations. The grants strategy of the Trust flows from this, with an

3

The Ecology Trust Trustees’ Annual Report Year ended 31 March 2023

emphasis on supporting initiatives in line with the fund-raising that is carried out. One consequence of this is that the Trust very rarely makes grants in response to unsolicited funding applications. Instead it operates a proactive grant-making policy in relation to the issues for which it has received funds.

At the present time the Trust’s main priorities include:

i) Climate change

Scientific evidence of the risks posed by climate change grows stronger by the month. The Trust seeks to accelerate the transition towards less carbon-intensive societies and economies by funding work along the following lines:

During the year the Trust continued to support Unchecked UK, which makes the case for common-sense protections that help keep people safe and allow businesses to thrive. The initiative is supported by a diverse group of leading civil society organisations. More than 80 civil society organisations with a combined membership of more than 5 million people are now signed up as supporters of Unchecked UK. Unchecked UK carries out research and investigations to highlight the loss of protection for the UK public that results from the erosion of important regulations and of the public bodies which enforce them, highlighting cuts to the budgets of local authorities and agencies such as the Environment Agency and Natural England. Unchecked UK’s communications research has shown that very few members of the public are in favour of lower standards and weaker protections.

iii) What the Trust will fund

The Trust will look to fund:

iv) Exclusions

The Trust is unlikely to make grants to the following kinds of projects:

c) Main objectives for the year

The Charity’s main objectives for the year were to continue making grants in line with the policies set out above, some via the Leuser Ecosystem Action Fund, and to support the work of Unchecked UK.

4

The Ecology Trust Trustees’ Annual Report Year ended 31 March 2023

3) ACHIEVEMENTS AND PERFORMANCE

a) Grants made

i) Grants tackling deforestation and biodiversity loss in Indonesia and other countries

• Yayasan Orangutan Sumatera Lestari - £23,000

Work with policymakers and local communities, on practical management plans geared to protecting and restoring an important wildlife corridor that connects an area of peat swamp forest to the Gunung Leuser National Park in Sumatra. The corridor supports the movement of many species, including elephant, tiger, honey bears and orangutans.

• Yayasan Pusaka Bentala Rakyat - £37,000

Support to indigenous peoples affected by the development of palm oil plantations in Indonesia. The grantee undertakes investigative research and helps local communities to assert their land rights.

• Hutan Alam Dam Lingkungan Aceh - £25,908 ($30,000)

Support to various conservation strategies in Sumatra, including legal and policy work alongside practical wildlife protection, plus work to empower local communities and grow a grass roots environmental movement.

• Lembaga Bantuan Hukum - £11,000

Outreach to communities living near a wildlife reserve in the Sumatran rainforests, to map their socioeconomic needs, explore opportunities for developing sustainable livelihoods, and use legal education to help them engage in the management of the adjacent nature reserve.

• Yayasan Ekosistem Lestari - £17,600

Support to conservation science programme, including the monitoring of forest health and collection of data on orangutan populations, with the outputs used to identify priority areas for protection.

• Yayasan Orangutan Sumatera Lestari - £17,600

This grant was used to provide training to eco-tourism guides working in Sumatra, and to support general operating costs at the grantee, whose mission is to conserve wild orangutan populations by engaging local communities and decision makers in work to protect and restore their forest homes.

• Wildlife Asia - £17,600

The grantee’s mission is to protect Asia’s tropical forests and key regions of wildlife habitat including the Leuser Ecosystem in Sumatra. The grant enabled Wildlife Asia to continue to continue its work in partnership with local Indonesian NGOs, with a particular focus on rhino and elephant conservation.

4) FINANCIAL REVIEW

a) Policy on reserves

It is the policy to maintain unrestricted funds at a level sufficient to cover management and administration costs. The Trust continues to hold other unrestricted funds in order to cover future grant commitments.

5

The Ecolo&v Trust Tru$lee5' Annual Report Year ended 31 March 2023 b) Principal funding sources The Ecology Trust does noi hav¢ an cndowment and therefore relies for its grant making on funds dottated by individuals arkd other grant-making organisations. During thc financial year the Tnjst r¢¢¢ived restricted funds totalliiig £894.870 (2022= £640,349) from donations and fund raising activities unrestricted income of £727 (2022.. £209}. Exp¢ndilur¢ was £384,816 (2022.. £649,131) comprising grants dethiled aljove, Unchecked UK plus fund rdising Costs of £520 (2022: £2,818). S) PLANS FOR FUTURE PERIODS Grant-makillg a¢livity The Trust will continue to make grants in furtherance of its charitable objects, using th¢ grant-making critcria s¢t out above. Adminislrative Costs have b¢¢n allocated on the basis of time spent on the activities of the individual funds and tems specified in restricted fund agreements. Approved by the Board of Trustees and signe(l on their behalf by Charles Filmer Chair of Tru8tees DAte: J1￿.

The Ecology Trust Independent Examiner’s Report to the Members of The Ecology Trust

Year ended 31 March 2023

I report on the accounts of the Trust for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Trust’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

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

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Anthony Epton BA FCA CTA FCIE Goldwins 75 Maygrove Road West Hampstead London NW6 2EG

…………………….…………….

CHARTERED ACCOUNTANT

18 January 2024

7

The Ecology Trust

Statement of Financial Activities (including Income and Expenditure Account) Year ended 31 March 2023

Notes
INCOME FROM
Donations
3
Investment income
4
TOTAL INCOME
EXPENDITURE
Cost of raising funds
Charitable activities
TOTAL EXPENDITURE
5
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Restricted
Unrestricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
894,870
-
894,870
-
727
727
894,870
727
895,597
520
-
520
384,233
63
384,296
384,753
63
384,816
510,117
664
510,781
391,153
1,100
392,253
901,270
1,764
903,034		 Total
Funds
2022
£
640,349
209
640,558
677
648,454
649,131
(8,573)
400,826
392,253

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

The attached notes form part of these financial statements.

8

The E¢ology Trust Balance Sheet As at 31 March 2023 Notes 2023 2022 Fixed Assets Tangible fixed assets Current assets Debio 10,007 Cash at bank And in hand 905,578 406,017 905,578 416,024 Creditor6: amounL8 falling due within one year 10 (2,544} (23,771) Net current assets 903.034 392,253 Net assets 903,034 392253 Funds Restricted 901,270 391,153 Unrestricted 1,764 1,100 903,034 392253 Approved on behalf of the Board of Trustees on and sig?i)ed oil their bel)aif by: Charles Filmer- Chair The attached notes form part of these financial statements.

The Ecology Trust

Statement of Cash flows

Year ended 31 March 2023

Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
510,781
10,007
(21,227)
499,561
2023
£
499,561
406,017
905,578		 2022
£
(8,573)
(7)
17,810
9,230
2022
£
9,230
396,787
406,017

10

The Ecology Trust Notes to the Financial Statements Year ended 31 March 2023

1 Accounting policies

a) Basis of preparation

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 - effective 1 January 2015) - (Charities SORP FRS 102) and the Charities Act 2011.

The charity 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 or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

e) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Value Added Tax which is not recoverable by the Charity, is included in the relevant costs in the Statement of Financial Activities.

11

The Ecology Trust Notes to the Financial Statements Year ended 31 March 2023

Accounting policies contd.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity’s activities. These costs have been allocated to cost of raising funds. The bases on which support costs have been allocated are set out in note 5.

h) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Creditors and provisions

k) Tangible fixed assets and depreciation

No tangible fixed assets were acquired during this period of operation.

l) Taxation

The Ecology Trust is registered as a charity with the Charity Commission and is exempt from liability to taxation.

12

The Ecology Trust Notes to the Financial Statements

Year ended 31 March 2023

2 DETAILED COMPARATIVES FOR STATEMENT OF FINANCIAL ACTIVITIES

INCOME FROM
Donations
Investment income
TOTAL INCOME
EXPENDITURE
Cost of raising funds
Charitable activities
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Restricted
Unrestricted
Total
Funds
Funds
Funds
2022
2022
2022
£
£
£
640,349
-
640,349
-
209
209
640,349
209
640,558
677
-
677
648,413
41
648,454
649,090
41
649,131
(8,741)
168
(8,573)
399,894
932
400,826
391,153
1,100
392,253

3 INCOME FROM DONATIONS

After allowing for grants in advance brought forward and carried forward

After allowing for grants in advance brought forward and carried forward After allowing for grants in advance brought forward and carried forward After allowing for grants in advance brought forward and carried forward After allowing for grants in advance brought forward and carried forward After allowing for grants in advance brought forward and carried forward

Total
Unrestricted
Restricted		 2023 Total 2022
£ £ £ £
Forest grants programme - 454,531 454,531 359,712

Joseph Rowntree Charitable Trust*		 - 24,000 24,000 40,000
Unchecked UK - 121,542 121,542 192,779
Leuser Ecosystem Action Fund - 294,778 294,778 45,151

Other donations		 - 19 19 2,707
- 894,870 894,870 640,349

*Donations from the Joseph Rowntree Charitable Trust support the work of Unchecked UK

13

The Ecology Trust

Notes to the Financial Statements

Year ended 31 March 2023

4 INCOME FROM INVESTMENT INCOME

Total Total Total Total
Unrestricted
Restricted		 2023 2022
£
£		 £ £
Bank interest received 727
-		 727 209
Currencyexchangegain -
-		 - -
727
-		 727 209

5 TOTAL EXPENDITURE

Forest grants programme
Admin expenses
Environmental Funders Network
Unchecked UK
Leuser Ecosystem Action Fund
Bank charges
Independent examination fees
Support costs reallocation
Total Expenditure 2023
Total Expenditure 2022		 Support
costs
Charitable
activities
Cost of
generating
funds
2023
Total
£
£
£
-
49,229
-
49,229
-
-
520
520
-
-
-
-
-
180,540
-
180,540
-
151,920
-
151,920
63
-
-
63
2,544
-
-
2,544
(2,607)
2,607
-
-
-
384,296
520
384,816
-
684,454
677		 2022
Total
£
316,594
677
1,292
201,811
126,616
41
2,100
-
**649,131 **

*Details of the grants made via the forests programme and Leuser Ecosystem Action Fund are provided on pages 5 and 6.

Of the total expenditure £63 was unrestricted expenditure (2022: £41) and £384,753 was restricted expenditure (2022: £649,090).

Support costs refer to the costs involved in operational activity which support the delivery of the charitable aims. They are allocated to charitable activities .

6 SURPLUS/(DEFICIT) FOR THE YEAR 2023 2022
£ £
The surplus / (deficit) of income over expenditure is stated after
charging:
Independent examination fee (net amount) 2,120 1,750

7 Trustees’ remuneration and expenses

No remuneration has been paid to the members of the Board of Trustees. None of the trustees incurred travel and out of pocket expenses in the year (2022 - £NIL).

14

The Ecology Trust Notes to the Financial Statements Year ended 31 March 2023

8 Tangible fixed assets

No tangible fixed assets were acquired during this year of operation.

9 Debtors

9
Debtors
Accrued income
10 Creditors: amounts falling due within one year
Accruals
11
Statement of funds 2023
Brought
Forward
£
Unrestricted funds
1,100
Restricted funds:
Unchecked UK
139,571
Leuser Ecosystem Action Fund
-
Other Restricted Funds
251,582
Total restricted funds
391,153
Total funds
392,253
Statement of funds 2022
Brought
Forward
£
Unrestricted funds
932
Restricted funds:
Unchecked UK
108,603
Leuser Ecosystem Action Fund
1,381
Other Restricted Funds
289,910
Total restricted funds
399,894
Total funds
**400,826 **
Income
£
727
195,542
294,797
404,531
894,870
895,597
Income
£
209
232,779
45,151
362,419
640,349
640,558		 2023
2022
£
£
-
10,007
=====
======
2023
2022
£
£
2,544
23,771
=====
======
Expenditure Transfer
£
£
63
-
180,540
-
151,920
-
52,293
-
384,753
-
384,816
-
Expenditure Transfer
£
£
41
-
201,811
-
126,616
80,084
320,663
(80,084)
649,090
-
649,131
-		 Carried
Forward
£
1,764
154,573
142,877
603,820
901,270
903,034
Carried
Forward
£
1,100
139,571
-
251,582
391,153
392,253

15

The Ecology Trust

Notes to the Financial Statements

Year ended 31 March 2023

12 Analysis of net assets between funds 2023 2023 2023
Restricted fund General fund Total funds
£ £ £
Tangible fixed assets - - -
Net current assets 901,270 1,764 903,034
901,270 1,764 903,034
====== ==== ======
Analysis of net assets between funds 2022 2022 2022 2022
Restricted fund General fund Total funds
£ £ £
Tangible fixed assets - - -
Net current assets 391,253 1,100 392,253
391,253 1,100 392,253
====== ==== ======

13 Commitments

There were no outstanding commitments at the year end.

14 Related Party Transactions

There are no related party transactions to disclose for the year.

16