‘ / — 7 rn Company registration number: 04698058 Charity registration number: 1099420 ## New Forest Trust (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2022 ## New Forest Trust ## Contents |Trustees Report|1 to 3| |---|---| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6 to 7| |NotestotheFinancialStatements|8to15| ## New Forest Trust ## Trustees Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022. ## Objectives and activities ## Objects and aims The principal objectives of the charitable company in the year under review are:- promoting the conservation, protection and improvement of the New Forest - promoting the conservation and protection of the commoning livestock, deer and other fauna of the New Forest - promoting the education and understanding of the public in the commoning of livestock, of flora, fauna and the environment of the New Forest ## Public benefit All charitable activities focus on the protection and improvement of the New Forest, together with its flora and fauna and education of the public in these respects. These activities are undertaken to further charitable purpose for the public benefit. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## Financial review ## Policy on reserves The trustees believe that a reserves policy of maintaining free reserves equal to between three and six months of unrestricted expenditure is appropriate. Free reserves currently exceed this level as trustees predict a shortfall in income over the coming years. ## Structure, governance and management ## Nature of governing document The organisation is a charitable company limited by guarantee, incorporated on 14 March 2003 and registered as a charity on 15 September 2003. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. ## Recruitment and appointment of trustees Trustee meetings are held periodically throughout the year. Potential appointments of new trustees are discussed at these meetings. Procedures for the induction and training of new trustees are in place. ## Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Page 1 ## New Forest Trust ## Trustees Report |Trustees:|O N Crosthwaite-Eyre| |---|---| ||D AThompson| ||W JA
Ziegler| ||Mrs S J Houston| ||Mrs H K M Harper| ||Dr D J Shaughnessy| ||Mrs D V Westerhoff| ||Mrs T H Ormerod| ||AClimpson(appointed12May2022)| ## Reference and Administrative Details |Charity Registration Number:|1099420| |---|---| |Company Registration Number:|04698058| ||The charity is incorporated in England and Wales.| |Registered Office:|Towngate House| ||2 - 8 Parkstone Road| ||Poole| ||Dorset| ||BH15 2PW| |Independent Examiner:|PKF Francis Clark| ||Towngate House| ||2 - 8 Parkstone Road| ||Poole| ||Dorset| ||BH15 2PW| |Solicitors:|Moore Barlow| ||Lymington| |Bankers:|Lloyds Bank PLC| ||Christchurch| ## Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Page 2 ## New Forest Trust ## Trustees Report The annual report was approved by the trustees of the charity on ozlulaz and signed on its behalf by: wie Tryétee Mrs H K Harper | —— Trustee Page 3 ## New Forest Trust ## Independent Examiner's Report to the trustees of New Forest Trust (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner’s statement | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of New Forest Trust as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). | 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. Anne-Marie Gates FCCA FCA Towngate House 2 - 8 Parkstone Road Poole Dorset BH15 2PW ## Date: 28 /ul2zo2z. Page 4 ## New Forest Trust Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |||Unrestricted|Restricted|Total| |---|---|---|---|---| |||funds|funds|2022| ||Note|£|£|£| |Income and Endowments from:||||| |Donations and legacies|3|21,407|6,500|27,907| |Investment income|4|2|10|12| |Other income|5|540|-|540| |Total income||21,949|6,510|28,459| |Expenditure on:||||| |Charitable activities|6|(23,736)|(4,383)|(28,119)| |Total expenditure||(23,736)|(4,383)|(28,119)| |Net (expenditure)/income||(1,787)|2,127|340| |Transfers between funds||(2,616)|2,616|-| |Netmovement in funds||(4,403)|4,743|340| |Reconciliation offunds||||| |Total funds brought forward||48,516|85,128|133,644| |Total funds carried forward|13|44,113|89,871|133,984| |||Unrestricted|Restricted|Total| |||funds|funds|2021| ||Note|£|£|£| |Income and Endowments from:||||| |Donations and legacies
Investment income|3
4|10,785
6|7,624
21|18,409
27| |Other income|5|540|-|540| |Total income||11,331|7,645|18,976| |Expenditure on:||||| |Charitable activities|6|(18,815)|(153)|(18,968)| |Total expenditure||(18,815)|(153)|(18,968)| |Net (expenditure)/income||(7,484)|7,492|8| |Transfers between funds||1,970|(1,970)|-| |Net movement in funds||(5,514)|5,522|8| |Reconciliation offunds||||| |Total funds brought forward||54,030|79,606|133,636| |Totalfundscarriedforward|13|48,516|85,128|133,644| The notes on pages 8 to 15 form an integral part of these financial statements. Page 5 ## New Forest Trust ## (Registration number: 04698058) Balance Sheet as at 31 March 2022 |||2022|2021| |---|---|---|---| ||Note|£|£| |Fixed assets|||| |Tangible assets|11|25,000|27,098| |Current assets|||| |Cash atbank and in hand||110,601|108,782| |Creditors: Amounts falling due within one year|12|(1,617)|(2,236)| |Net current assets||108,984|106,546| |Net assets||133,984|133,644| |Funds of the charity:|||| |Restricted income funds|||| |Restricted funds||89,871|85,128| |Unrestricted income funds|||| |Unrestricted funds||44,113|48,516| |Totalfunds|13|133,984|133,644| For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors’ responsibilities: - The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 8 to 15 form an integral part of these financial statements. Page 6 ## New Forest Trust ## (Registration number: 04698058) Balance Sheet as at 31 March 2022 6%The fad...financial andstatements sigred onon theirpages behalf5 to by:15 were approved by the trustees, and authorised for issue on wih age rustee load. . Mrs H K M Harper | i Trustee The notes on pages 8 to 15 form an integral part of these financial statements. Page 7 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Towngate House 2 - 8 Parkstone Road Poole Dorset BH15 2PW ## 2 Accounting policies ## Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## Basis of preparation New Forest Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. ## Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 8 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. ## Investment income Investment income is recognised on a receivable basis. ## Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. ## Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’s meetings and reimbursed expenses. ## Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## Tangible fixed assets Individual fixed assets costing £1.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. On 9 September 2015, the charity was gifted a ninety nine year lease on fifteen acres of land at Rockford, Ringwood. The land was gifted with the proviso that it be used for the furtherance of the practice of commoning. Due to this proviso, the land has been included in the financial statements at nil, being the lower of replacement cost or recoverable amount. Page 9 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Depreciation method and rate Office equipment 3 years straight line Portable pavilion 10 years straight line Improvements to leasehold property are not depreciated ## Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## Financial instruments ## Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 10 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## 3 Income from donations and legacies ||Unrestricted||| |---|---|---|---| ||funds
General|Restricted
funds|Total
funds| |Donations and legacies;|£|£|£| |Donations from individuals|21,407|6,500|27,907| |Total for2022|21,407|6,500|27,907| |Total for2021|10,785|7,624|18,409| |4
Investment income|||| ||Unrestricted||| ||funds
General|Restricted
funds|Total
funds| |Interest receivable and similar income;|£|£|£| |Interest receivable on bank deposits|2|10|12| |Total for2022|2|10|12| |Total for2021|6||| |5
Other income|||| |||Unrestricted|| |||funds|Total| |||General|funds| |Other income||£
540|£
540| |Total for2022||540|540| |Totalfor2021||540|540| Page 11 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 6 Expenditure on charitable activities **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Unrestricted| |funds|Restricted|Total|Total| |General|funds|2022|2021| |£|£|£|£| |Publicity|costs|922|-|922|-| |Website|costs|226|-|226|-| |Subcontract|labour|3,656|-|3,656|6,925| |Insurance|1,460|-|1,460|1,301| |Charitable|donations|14,608|4,383|18,991|7,902| |Sundry|expenses|114|-|114|90| |Depreciation|of|other|tangible| |assets|2,132|-|2,132|2,132| |23,118|4,383|27,501|18,350| |7|Net|incoming/outgoing|resources| |Net|incoming|resources|for the|year|include:| |2022|2021| |£|£| |Depreciation|of fixed|assets|2,132|2,132| **----- End of picture text -----**
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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |8|Trustees|remuneration|and|expenses| |No|trustees,|nor any|persons|connected|with|them,|have|received|any|remuneration|or expenses|from| |the|charity|during|the|year.| |9|Independent|examiner's|remuneration| **----- End of picture text -----**
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||||||| |---|---|---|---|---|---| |2022|2021| |£|£| |Examination|of the|financial|statements|618|618| **----- End of picture text -----**
10 Taxation The charity is a registered charity and is therefore exempt from taxation. Page 12 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## 11 Tangible fixed assets |11 Tangible fixed assets||||| |---|---|---|---|---| ||Land and _|Furniture and|Portable|| ||buildings
£|equipment
£|pavilion
E|Total
£| |Cost||||| |At 1 April 2021
Additions|21,232
34|7,428
-|21,324
-|49,984
34| |At 31 March 2022|21,266|7,428|21,324|50,018| |Depreciation||||| |At 1 April 2021
Charge forthe year|-
-|7,428
-|15,458
2,132|22,886
2,132| |At 31 March 2022|-|7,428|17,590|25,018| |Net book value||||| |At 31 March 2022|21,266|-|3,734|25,000| |At 31 March 2021|21,232|-|5,866|27,098| |12 Creditors: amounts falling due within oneyear||||| ||||2022|2021| ||||£|£| |Othercreditors|||1,617|2,236| Page 13 ## New Forest Trust Notes to the Financial Statements for the Year Ended 31 March 2022 ## 13 Funds ||Balance at||||Balance at| |---|---|---|---|---|---| ||1 April|Incoming|Resources||31 March| ||2021|resources|expended|Transfers|2022| ||£|£|£|£|£| |Unrestricted funds|||||| |General|||||| |Unrestricted incomefund|48,516|21,949|(23,736)|(2,616)|44,113| |Restricted funds|||||| |Beaulieu Road SaleYard|74,124|6,509|(2,383)|2,202|80,452| |JubileeAward
Commoners Holding Fund|1,004
10,000|1
-|(2,000)
-|414
-|(581)
10,000| |Total restricted funds|85,128|6,510|(4,383)|2,616|89,871| |Total funds|133,644|28,459|(28,119)|-|133,984| ||Balance at||||Balance at| ||1 April|Incoming|Resources||31 March| ||2020|_—resources|expended|Transfers|2021| ||£|£|£|£|£| |Unrestricted funds|||||| |General|||||| |Unrestricted income fund|54,030|11,331|(18,815)|1,970|48,516| |Restricted|||||| |Beaulieu Road Sale Yard
JubileeAward|67,605
2,001|7,642
3|(153)
-|(970)
(1,000)|74,124
1,004| |Commoners Holding Fund|10,000|-|-|-|10,000| |Total restricted funds|79,606|7,645|(153)|(1,970)|85,128| |Totalfunds|133,636|18,976|(18,968)|-|133,644| Page 14 ## New Forest Trust ## Notes to the Financial Statements for the Year Ended 31 March 2022 ## 14 Analysis of net assets between funds ||||Total funds| |---|---|---|---| ||Unrestricted funds||at 31 March| ||General|Designated|2022| ||£|£|£| |Tangible fixed assets|25,000|-|25,000| |Current assets|20,730|89,871|110,601| |Creditors over 1 year|(1,617)|-|(1,617)| |Total net assets|44,113|89,871|133,984| ||Unrestricted||Total funds| ||funds
General|Restricted
funds|at 31 March
2021| ||£|£|£| |Tangible fixed assets|27,098|-|27,098| |Current assets|23,654|85,128|108,782| |Current liabilities|(2,236)|-|(2,236)| |Totalnetassets|48,516|85,128|133,644| Page 15