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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

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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

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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

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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 mA￿AGEMENT
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 t￿slee5 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

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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

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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.¥ a￿d 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.

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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.

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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.

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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

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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.

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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 n￿eSSary 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 e￿or 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 inSt￿ceS 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.

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Independent Auditor's Report to the Trustees of The Ecologv Trust
Year ended 31 March 2024
Wc pcrformcd &nal￿1Cal 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 OCCU￿1llg duc to fraud rathcr than C￿Or. 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

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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.

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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

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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 pro￿Trded 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

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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

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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

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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

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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
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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 T￿slee5. 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
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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