Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB Registered Charity Number: 1099222 THE ECOLOGY TRUST TRUSTEES, REPORT AIYD AUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Goldwins Limited Chartered Accountants & Rcgistered Auditors 75 Maygrovc Road West Hampstead London NW6 2EG
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Index Year ended 31 March 2024 Pages Legal and administrative details Trustees, Annual Report Independent Auditor's Report 8-10 Statement of Financial Activities li Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financial Statements 14-19
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Reference and Administrative Details Year ended 31 March 2024 Governing document Settlement dated 4 April 2003 between The Goldsmith Foundation and the Trustees (listed below). Full name ofcharity The Ecology Trust Charity Registration number 1099222 Date of first registration I September 2003 Deseription 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 reliet of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities. Chair c.harles Filmer Hon. Secretary Jon Cracknell Treasurers Zedra Privaie Office (UK) Limited Trustees Charles Filmer (Chair) A B H Goldsinith B J Goldsmith C Colbert Registered Address 48 Kidmore Road Caversham Reading, RG4 7LU Bankers Triodos Bank NV Deanery Road Bristol, BSI SAS Auditors Goldwins Limited 75 Maygrove Road West Hampstead London, NW6 2EG
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 Thc tnJ5tccs prcscnt thcir rcport along with thc financidl stdtcincnt5 of thc charity for thc ycar cndcd 31 March 2024. Thc financial statcmcnts havc bccn prcparcd in accordancc with thc accounting policics sct out in notc I to the account5 and comply with thc eharity's trust dced, thc CharitiC5 Act 2011 and thc C.haritics SORP FRS 102 (effective froin l January 2015). I) STRUCTURE, GOVERNANCE AND mAAGEMENT a) Constitution The Charity's Constitution was adopted on 4 April 2003 in the fom1 of a Trust Deed. b) Recruitment of trustees The Trusi Deed stales thai ihe Charily shall have at least three and nol more ihan 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) Induetion of trustees New trustees are inlroduced to the existing trustees and then take part in trustee meetings. d) Trustees, responsibilities Thc Charity's tslee5 are responsible for preparing fLnancial statemcnts 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 cnd of the ycar. In preparing the financial statements, the trustees are requircd to.. Select suitable accounting policies and apply them consistently. Make judgements and estimates that are reasonable and prudent. Follow applicable accounting strdndards and statements of recominended practice subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will Lolltinue in opcratiun. The trustees are responsible for keeping proper aceounting records that disclose with reasonable accuracy at any time the financial posilioii of the charity and enable them lo ensure Ilial the financial statements comply willi the applicable Accouiiting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011, the Charity {Accounls and Reports) Regulations 2008 and provisions of the Seltleinent dated 4 April 2003. They are also responsible for safeguarding the assets of the charity and hence for taking reasoiiable steps for the prevention aiid detection of fraud and other irregularities. e) Organisiition The current members of the Board of Trustees are set out on page l. During the Covid-19 pandemic the trustees began to tnake 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
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 Sccrctary rcmains rcspon5iblc for day-to-day organi5ation and rcports to thc trustecs. Applications for funding of projccts arc rcvicwcd by thc Board of Trustccs for approval. D Risk management The trustees have examined the major slralegic, 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 ils exposure to them. A risk register is it) 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 fLmd and its income upon trust to apply them for all charitable purposes and in particular to promote sustainable development tor the benetit of the public by'.- The preservation, conservation and the protection of the environment and the prudent use of natural resources- The relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities; The promotion of sustainablc means of achicving economic growth and regeneration; Sustainable developinellt to Incan dcvclopmcnt that Imcels the needs of the present without comprornising the ability of future generations to meet their needs., The trustees confimi that they liave complied with the duty in section 17 of Ilie Charities Act 2011 and referred to the guidance contained in the Charity Commission's geiierdl guidance oil public benefit when reviewing the Trusts aim and objectii'es, planning future activities and setting the grant inaking policy for rhe year. b) The aims of the Charity The Charity is a grani-making Trust. Grants will b¢ made both 10 charities and also to non-charities in support of work that adN'ances the charitable piirposes 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 issu¢s of agriculture, tropical forests, and climate change. The Trust will seek to support projects that prevent environmental degradation and that chang¢ values and attitudes, both amongst the public and with people in positions of power. In general the Tn]st 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 Tn]st intends to support work that others may find hard to fund, perhaps because it breaks neiv ground, requires core funding, or appeats risky in the sense that the outcomes cani)ot be completely guarantced. Thc Trust may also take its own initiatlvcs whcrc it bclicwcs that new thinking is rcquircd or whcrc it believes that there are iniportant opportuiiities that are being missed. Because the Trust does not hai'e An endowment of its own Its maln sources of fundlng are monies ralsed at fund-ralsing dinners, and grants provided by other trusts and foundations. The grants strategy of the Trust tloivs trom this, Thith an
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 etnphasis supporting initiatives in line with the t'und-raising that is carried out. One consequence of this is that the Trust verv rarelv makes grants in response to unsolicited funding applications. Instead it operate5 a proactive grant-making policy in relation to the issues for Ivhieh it has received funds. At the present lime 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.. Protccting tropical forcsts, cspecially thosc in south-cast Asia. This work mainly takcs place via the Lcuser Ecosystem Action Fund which is a project of the Tnst. Encouraging business as well as Government to take on board the need for rapid reductions in greenhouse gas emissions and to implement the necessary strategies. Supporting changes to trade and investment policies that will lead to greater environmental protection. ii) Making the ca.ie Jor ihe enjorcemenl ofenvironnieiilal regulaiion.¥ ad other soeialproteclions 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 ot leading civil society organisations. More than 80 civil society organisations with a combined membership of more than 5 million pcople are now signcd up as supportcrs of Uncheckcd UK. Unchecked UK carries out research and investigations to highlight the loss of protection tor the UK public that results from the erosion of in]portanl regulations and of the public bodies M,hich enforce them, highlighting cuts to the budgets of local authorities and agencies such as the Environtnent Agency and Natural England. Unchecked UK'S communications research has shown that very fciv members of the public are in favour of loi¥er standards and weaker proleetions. iii) What the Trusl wyllfynd The Trust will look lo fund.. Both project and core costs. These will include running costs such as staff salaries and overheads. Projects with a clear sense of objectives 2nd the specific strategic steps required for achieving than. Innovative projects where it is clear a grant will have a good chance of makillg a difference. Ev) ExLIu.finALY The Trust is unlikely to make grants to the following kinds of projects.. Work that has alrcady taken place Part of general appeals or circulars Outivard-bound courqes, expeditions and over.qeas rravel Capital projects (i.c. buildings and rcfurbi5hmcnt costs) Furniture, white goods, con]puter, paint, titnber and scrap recycling projects.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 c) MAin objectives for the year Thc Charity's main objcetivcs for thc ycar were to eontinuc making grants in linc with thc policies sct out above, via the Leuser Ecosystem Action Fund, and the Funders for Fair Trade pooled fund, and to support the work of Unchecked UK. 3) ACHIEVEMENTS AND PERFORMANCE a) Grants made i} Grants tackling deforestation biodiversity 1055 in Indonesia and other countries Banktrack- £32,001 BankTrack is an international campaigning organisation tiiat focuses on the role of commercial banks in the naturc and climate crises, urging them to take dceisive actiOTL to mitigate these issues within their financing portfolios. BankTrack also offers support and expertisc to other civil society gryoups working on banking topics, including those representing coinmunilics atfeLted by bank-financcd projccts and eompanics. This grant supported BankTrack's nature can]paign with a focus on forest protection. Canopy Planet Society- £60,700 (via tivo grants) Canopy's mission is to protect the world's forests, species, and Climate. and to help advance frontline communities, rights. It achieves this throu strategic partnerships willi companies, invesiors and other decision-makers, with tlie goal of transforniing global supply chains for forest-risk commodities, and promoting a more circular, resource-efficient economy. Over the year, Th¢ Ecology Trust made two grants to Canopy, in support of projects and core organisational running costs. FERN - £5,956 Founded in 1995, FERN is dedicated to protecting forests and the rights of people who depend on them. Engaging the European Union in constructive nature and climate policies is central to lis theory of change. This grant enabled FERN to host a delegation of experienced forest advocates from the Global South, during a visit to Europe when they briefed journalists and parliamentarians about realities on the ground in countries with high levels ot natural forest cover. Forum Konservasi Leuser (FKL) - £237J64 (via five grant5) FKL is a conservation organisation focused on protecting the rainforests of northem Sutllatra. It deploys ranger teams who monitor thc hcalth of Iiatural habitats and wildlife populations, and cooperates Wlth local authorities to address forest and wildlife crime. FKL also undertakes forest restoration activities, research station managcmenl, and mitigation of human-wildlife conflict. Over the ycar, Thc Ecology TNst made fivc grants to FKL, in support of projects aiid Lore organisational running costs. Perkumpulan Kaoem (PT) _ £30J90 PT is a Indonesian-based NGO that works with famers, fishers and iiidigenous peoples lo promote the equitable and sustainable maiiagenient of iiatural resources. The Ecology Trust supported KT'S work on effective environmeiital policy and governance, with a particular focus on communily-based forest Inoniloring as a means of suppoffing the implementation of various sustainability regulations and certificatioii schames.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 Raintorest Action Tr4etwork (RALY)- £133,733 (via four grants) L4N prcscrvcs forcsls, protccts thc climatc and upholds human rights by sccking to improvc thc cnvironmcntal perforniance of corporations and finance institutions. Over the year, The Ecology Trust made four grants to 4N, in support of its international forests programme and its finance sector eampaigns. Yayasan Ekosistem Lestari (YEL) - £123,090 (via three grants) YEL runs a multi-faceted programme thai addresses all aspects of orangutan conservation. Its day-to-day work includcs thc confiscation of orangutans kcpt illcgally as pcts, thc rehabilitation of animals at its rescuc ccntrc, follomwcd by quarantinc and rcintroduction to folin viablc ncw populations in thc wild. It also works on awarcncss raising and habitat protcLtion, and maintains a scicntific programmc that includcs survcys, monitoring, behavioral and eeological reseai'ch on wild orangutans. The Ecology Trust made three grants to YEL, in support of projects and core organisational running costs. Yayasan HutAn AIAM Din Lingkungan Aceh (HAIL4)- £147,335 {via five grants) HAL4 advocatcs for the protcction and restoration of thc Leuser Ecosystem in Indonesia. It highl1]t5 the thrcat5 associated witli clearin¥ pcatlands and forest, including tt]e loss of ccosyStem services such a5 carbon storage and ihe regulation of water supplics. It champions local communities, facilitating the implcmentation of SOLial forestry schemes and fostcring conscrvation leadciship among won]en. youth and othcr constituencies. Over the year, The Ecology Trust made six grants lo HAkA, in support of projects and core organisational running costs. Yayasan Orangutan Sumatera Lestari (OIC}- £86,350 (via three grants) OIC focuses on the conservation of orangutans and their forest homes in Sumatra. Its programmes include habitat restoration, human-orangutan confliLt mitigaiion, plus support to local authorites investigating forest crime and th¢ illegal wildlife trade. It also works on community empowerment and sustainable livelihoods through social forestry schemes, agroforestry and penna¢ulture. ON'er the year, The Ecology Trust made three grants to OIC, in suppon of projects and core organisational running costs. Yayasan Pusaka Bentala Rakvat {Pusaka) - £35,467 Pusaka is an Indonesian-based NGO focused on the rights of indigenous peoples. It uses legal, advocacy and movement-building strategies to help local communities to assert their land rights, including in cases where natural forests are targeted for expansion by plantation and mining companies. This grant supported Pusaka's advocacy work plus legal rights trainings for local communities. ii) Grants related to trade and investment policies Global Justice IYow- £16,350 This grant enablcd Global Juslicc Now to organisc a mcclillg in London for cxpcricnced trade .justice campaigTiers froin around the world, giving them a chance lo develop cominon positions with respeel lo the tensions between trade policy aiid climate policyy and on trade justice more broadly.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Trustees, Annual Report Year ended 31 March 2024 4) FINANCIAL REVIEW a) Polie), on reserves It is the policy to maintsin 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 cominitmenls. b) Principal funding sources The Ecology Trust does not have an endowment and therefore relies for ils grant making on funds donated by individuals and other grant-niaking organisalions. During the financial year, the Trust received reslricted funds tolalling £1,729,546 (2023.. £894,870) from donations and fund raising activities and unrestricted income of £5,309 (2023.. £727). The expenditure was £1,208,316 (2023.. £384,816), comprising the grants detailed above, Unchecked UK and other project expenditure, and fund-raising costs. A detailed breakdown ot. all expenditure can be found in Note 5 on paoe 17. 5) PLANS FOR FUTURE PERIODS Grant-making #ctivity The Trust will continue to make grants in furtherance of ils eharitable objects, using the grant-making criteria sct out above. Adininistrative costs have been allocated on the basis of time spent on the activities of the individual funds and temis specified in restricted fund agreements. Approved by the Board of Trustees and signed on their behalf by SkJMd "FO$6CDE3EeJEa29" Charles Filmer Chair of Trustees Date: 12/18/2024
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Independent Auditor's Report to the Trustees of The Ecologv Trust Year ended 31 March 2024 Opinion Wc havc auditcd thc financial statcmcnts of Thc Ecology Trust for thc ycar cndcd 31 March 2024 which comprise thc Stat¢mcnt of Financial AetivitiC5, Balance Shect. Statemcnt of Cash Flows and notc5 to thc financial statements, including a sunmnary of significant accounting policies. The financial reporting framework that has been applied in the preparation of the eharity's financial stateinents is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of the charity's income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Ourresponsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concer In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Bascd on the work we have perfonmed, Th'e have not identified any material unccrtaintics relating to events or conditions that, iiidividually or collcctively, may cast sigiiificant doubt on the charity's ability to contiiiue as a going concern for a pcriod of at Icasi twelve months from when the financial stalcmcnts are authoriscd for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevalll sections of this report. Other information The otlier inforniation comprises Ilie infonnation included iii rhe Iruslees, annual report other Ihaii rhe financial statements and our auditor's report thereon. The trustees are responsible for the other inforniation coiitained within the annual report. Our opinion on the fiiiancial statements does not cover the other infonnation and, except to the exient othernTise explicitly stated in our reporL we do not expreqs any fomi of assurance conclusion thereon. Our responsibility is to read the oiher information and, in doing so, consider whether the other inforniation is mat¢rially inconsistent with the financial 8tat¢ment.8 or our knowledge obtained in the course of th¢ audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstaternent in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Independent Auditor's Report to the Trustees of The Ecologv Trust Year ended 31 March 2024 Wc havc nothing to rcport in this regard. Matters on Trvhich we are required ¢0 report by exception In the 1]t of the knowledge and understanding of the charity and their environment obtained in the course of the audit, we have not identified material misstateinents in the Trustees, Annual Report. We have nothing to report in respect of the following matters in relation io which the Charities Act 2011 requires us lo report to you if, in our opinion.. Sufficient accounting record5. have not been kept; the financial statements are not in agreement with the accounting records and returns; or we have not obtained all the infom]ation and explanations necessary for the purposes of our audit. Responsibilities of the trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they detennine is neSSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a wl)ole are free from material misstatement. whether due to fraud or crror, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordancc with ISAS (UK) Ivill always dctccl a material IMi5Statemcnt wlien it cxists. Misstatcimenls can arise from fraud or eor and are considcrcd matcrial if, indiNidually or in the aggregate. they could reasonably be cxpeLtcd to iiifluellce thc CCOiiOmiL deLisions of users traken on the basis of Ihcse finanLial statemciils. Irregularities, including fraud, are inStceS of non-complianee with laws and regulations. We design procedures in line with our responsibililies, outlined above, lo delect material Inisslalements in respect of irregularities, including fraud. The extent lo which our procedures are Capable of detecting irregularities, including fraud are sel out below. Capabilitv of the audit in detecting irregularities In identifying and assessing risks of material misstateinent in respect of irregularities, including fraud and non- compliaiice with laws aiid regulations, our procedures included the following.. We enquired of inanagement, which included obtaining aiid reviewiiig supporting documentation, ¢on¢erning the ¢harily's policies and procedures relating lo Jdeiilifying, evaluating, and ¢omplying with laws and regulations and whether they were aware of aiiy instances of non-coinpliance; Detevliiig aiid responding to the risks of fraud and wlieiher they have knowledge of any actual, suspected, or alleged fraud,. We inspected the niinutes of meeliiigs of those charged with governance. We reviewed the finaiiLidl statemcnt disLlosures and tested these to supporting documentation to assess compliance with applicablc laws and rcgulations.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Independent Auditor's Report to the Trustees of The Ecologv Trust Year ended 31 March 2024 Wc pcrformcd &nal1Cal proccdurcs to idcntify any unusual or uncxpcctcd rclationships that may indicate risks of material misstatement due to traud. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustrnents, assessed whether the judgements made in making accounting estirnates are indicative of a potential bias and tested significant transactions that are unusual or those outside the nornial course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk incrcascs thc morc that compliancc with a law or rcgulation is rcmovcd from thc cvcnts and transactions reflected in thc financial statemcnts, as we will be less likcly to become aware ot instances of non-compliancc. Thc risk is also grcatcr rcgarding irrcgularitics OCCU1llg duc to fraud rathcr than COr. as fraud involvcs intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for thc audil of the financial statements is located on ihe Financial Reporting Council's website at= li¥Th'w.frc.org.uklauditorsresponsibilitiC51. This description forn]s part of our auditor's report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 201 l and the regulations inade under section 154 of that Act. Our audit work has been iindertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the lIest extent perniitted by law, we do not accept or assume responsibility to anyone other than the Charity's trustees as a body, for our audit work, for this report, or for the opinions we have fornied. Goldwins Limited Statutorv Auditor Chartered Account#nts 75 Maygrove Road West Hampstead London NW6 2EG 18 December 2024 Goldwins Limited is eligible for appointment as audilorof the charity by virtue of ils eligibility for appointment as auditor of a company uiider section 1212 of the Companies Act 2006. 10
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Statement of Financial ActiTrTrties (including Income rdnd Expenditure Account) Year ended 31 March 2024 2024 Total funds 2023 Totsl funds Unrestricted funds Restricted funds Note Income from: Donations 1,729,546 1,729,546 894,870 Investment income 5,309 5,309 727 Total income 5,309 1 729,546 1734,855 895,597 Expenditure on: Raising funds 331 331 520 Charitable activities 41 1,207,944 1,207,985 384,296 Total expenditure Net ineome l (expenditure) before transfers 41 1208,275 1208,316 384,816 5,268 521,271 526,539 510,781 Transfers between funds Net income l (expenditure) for the year 5,268 521,271 526,539 510,781 Reeonciliation of funds: Total funds brought fonvard 12 901270 903 034 392 253 Total funds carried foThard 7,032 1,422,541 1,429,573 903.034 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expcnded dcrive froin continuin¥ activitics. The allached notes fom parl of Iliese fiiiancial sialemwits.
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Balance Sheet As at 31 March 2024 2024 2024 2023 2023 Lyote Current assets: Cash at bank and in hand 1433,573 1,433,573 905 578 905,578 Liabilities: Creditors= amounts falling due within one year io 4,000 {2,544 Net current a55ets 1,429,573 903,034 Total net assets 1,429,573 903,034 Funds Restricted funds Unrestricted funds 12 1,422,541 7,032 901,270 1,764 Total funds 1,429,573 903,034 Approved on behalf of the Board of Trustees on and signed on th¢ir behalf by.. 12118/2024 Charles Filmer- Chair The attached notes fonn part of theqe financial statements. 12
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi Statement of Cash Flows Year ended 31 March 2024 2024 2024 2023 2023 Cash flows from operating activities: Net cash provided by l (used in) operating activits'es 527,995 499,561 Cash flows from investing activities Cash provided by l (used in) investing activities Cash proTrded by l (used in} financing activities Change in cash and cash equivalents in the year 527,995 499,561 Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents due to exchange rate movements 905,578 406,017 Cash and cash equivalents at the end of the year 1,433,573 905,578 Reeoneiliation of net income l (expenditure) to net cash flow from operating aetivities 2024 2023 Net ineome l (expenditure) for the reporting period (as per the statement of financial activities) {Increase)/ decrease in debtors Jncreasel (decrease) in creditors Net cash provided by l (used in) operating act]tieS 526,539 510,781 10,007 21,227 499,561 ,456 527,995 Analysis of cash and cash equivalents At31 March 2024 At l April 2023 Other changes Cash flows Cash at bank and in hand 905,578 527,995 1,433,573 Total eash and cash equivalents 905,578 527,995 1,433,573 Total cash and cash equivalents 2023 406017 499,561 905 578 13
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 Accounting policies a) Basis of preparatio 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 a¢cord<1nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective l January 2019) - {Charilies 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 Thc trustccs considcr that thcrc arc no matcrial unccrtaintics about th¢ Charitablc 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 perforniance 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 governinent and other grants, whether 'capilal' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any perfomiance conditions attached to the grants have been mel, it is probable that the income will be received and the noUn1 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 mel. d) Interest receivable Interest on funds held on deposit is included when receivable and the ainount can be measured reliably by the charity; this is nonnally upon no¢1 fication of Ilie inleresl paid or payable by the bank. e) Fund accounting Unrcstrictcd funds arc availablc to spcnd on activities that further any of thc purposes of charity- De5ignatcd funds are unrcstriclcd funds of the charity which the trustees liave decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations ivhich the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by Ilie charity. D Expenditure and irrecoverable VAT Valuc Added Tax which is not recoverable by thc Charityy Is included in thc rclcvanl costs in the Statement of Financial Activities. 14
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 Accounting policies conld. g) Allocation of support costs Support costs are those functions that assist the work ot the charity but do not directly undertake charitable activities. Support costs include back-otfice 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 arc set out in note 5. h) Debtors Trade and other debtois are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. i) Cash at bank and in band Cash at bank and cash in hand includes cash and short terni highly liquid investments with a short maturity of three months or less from the date ot acquisition or opcning of the deposit or similar account. j) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of tunds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are norn)ally recognised at their settlement amount after allowing for any trade discounts due. k) Tangible fixed assets ind depreciation No tangible fixed assets were acquired during this period of operation. l} Taxation Thc Ecology Trust is registered as a charity with the Charity Commission and is exempt from liability to taxation. 15
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 DETAILED COMPAIL4TIVES FOR STATEMENT OF FINATr4CIAL ACTIVITIES 2023 Unrcstrictcd 2023 Restricted 2023 Total Income from: Donations Investment income 894,870 894,870 727 727 Total ineome 727 894,870 895,597 Expenditure on: Raising funds Charitable activities= 520 384,233 384 753 520 384,296 384 816 63 Total expenditure 63 Iyet income l expenditure before transfers 664 510,117 510,781 Transfcrs bctwccn funds Net income l expenditure 664 510,117 510,781 Reconciliation of funds: Total funds brought forn'ard 1,100 391.153 392 253 Total funds carried forward 1,764 901,270 903,034 Income from donations After allowing for grants in advance brought forward and carried fonvard 2024 Total 2023 Total Unrestiiclcd Restricted Forest grants programine Tlie Joseph Rownlree Charitable Trust Unchecked UK Leuser Ecosystetn Action Fund Funders for Fair Trade Other Donations 25,000 50,000 46,450 1,038,121 569,900 75 1,729,546 25,000 50,000 46,450 1,038,121 569,900 75 1,729,546 454,531 24,000 121,542 294,778 19 894,870 Donations from The Joseph Rowntrcc Charitable Trust support tt]e work of Unchecked UK. 16
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 4 Income from investments 2024 Total 2023 Total Unrestricted Restricted Bank interest 5,309 5,309 5,309 5,309 727 727 5 Analysis of expenditure Cost of raising funds Charitable activities Support Cost 2024 Total 2023 Total Forest grants programme Admin expenses Environmental Funders Network Unchecked UK Leuser Ecosystem Action Fund Funders for Fair Trade Bank charges Audit Fees 217,182 217,182 331 49,229 520 331 216,685 751,279 18,798 2J6,685 751,279 18,798 41 4,000 180,540 151,920 41 4,000 63 2,544 331 1,203,944 4,041 1,208,316 384,816 Support costs 4,041 (4,041) Total expenditure 2024 331 1,207,985 1,208,316 Total expenditure 2023 520 384,296 384,816 *Details of the grants made via the forests programme, Leuser Ecosystem Action and Fund Funders for Fair Trade are provided on pages 5 and 6. Of the total expenditure £41 was unrestricted expenditure (2023.. £63) and £1,208,275 was restricted expenditure (2023: £384,753). Support costs refer to the costs involved in operational activity which suppoll the delivery of the charitable aims. They are allocated to charitable aciivitieq. SURPLUSI(DEFICID FOR THE YEAR 2024 2023 The surplus l (deficit) of income over expenditure is stated after charging= Independent examination fee (net amount) Auditors remuneration (net amount) 2,120 4,000 17
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 Trustees, remuneration and expenses No rcmutLcration has bccn paid to the mcmbcrs of thc Board of Tslee5. Nonc of thc trustccs incurrcd travel and out of pocket expenses in the year (2023 - £NLL). Tangible fixed assets No tangible fixed assets were acquired during this year of operation. Debtors 2024 2023 Accrued income 10 Creditors: amounts falling due within one year 2024 2023 AccLuals 4,000 2,544 I l Analysis of net assets between funds Total funds Unrestricted Restricted Tangible fixed assets Net current assets et assets at the end of the year 7,032 1,422,541 1422 541 1,429,573 1429 573 Analysis of net assets between funds 2023 Total fund5 Unrestricted Restricted Tangible fixed assets Net current assets Net assets at the end of the year 1,7 901,270 901,270 903,034 903 034 18
Docusign Envelope ID.. 2C2A9356-944F-4B5F-916D-EA6714C73BOB I ne Lcoiogy i rusi LNotes to the Finrdneirdl Statements Year ended 31 March 2024 12 Movements in funds At l April 2023 At31 Mar 2024 Income Expcnditure Transfcrs Restricted funds: Unchcckcd UK Leuser Ecosystem Action Fund Fundcrs for Fair Trade Other Restricted Funds 154,573 142,877 96,450 1,038,121 569,900 25,075 (216,685) (751,279) (18,798) (221,513) 34,338 429,719 551,102 407,382 603,820 Total restricted funds 901,270 1,729,546 (1,208,275) 1,422,541 Unrestricted funds 1,764 5,309 (41) 7,032 Total funds 903,034 1,734,855 (1,208,316) 1,429,573 Movement in funds 2023 At l April 2022 At31 Mar 2023 Income Expenditure Transfers Restricted funds: Unchcckcd UK 139,571 195,542 294,797 404,531 894,870 180.540 151,920 52,293 384,753 154,573 142,877 603,820 901,270 Leuser Ecosystem Action Fund Other Restricted Funds 251,582 391,153 Total restricted funds Unrestricted funds 1,100 727 63 1,764 Total funds 392,253 895,597 384,816 903,034 13 Commitments There were no outstanding commiiments at the year end. 14 Related Party Transactions There are no related party transactions to disclose for the year. 19