REGISTERED CHARITY NUMBER: 1103702
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
ISLAND CONSERVATION SOCIETY UK
ISLAND CONSERVATION SOCIETY UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11
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ISLAND CONSERVATION SOCIETY UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The society was registered as a charity on 12th May 2004. It's objects are to maintain and preserve for the benefit of the public, in particular but not exclusively, the island of Aride in the Republic of Seychelles, the natural habitat and natural resources and to promote the conservation and restoration of island ecosystems.
FINANCIAL REVIEW
The total value of the Endowment Fund held at Sarasin and Partners LLP in the name of the charity rose during the year ended 31 March 2022 from £1,016,754 to £1,038,598. However, investment income fell from £30,935 (3.0%) to £28,056 (2.7%). UK charitable trust supporters of the charity provided contributions totalling £33,000. Donations from other parties increased £12,455 to £17,933. Including small sums from other sources including interest received and Amazon Smile (for the first time) the total income was £80,087. The charity donated £70,000 to Aride Island Nature Reserve, Seychelles. The administration costs of running the charity were £847, giving total expenses of £70,847.
FUTURE PLANS
Future objectives remain focussed upon the support of the conservation programmes of Aride Island Nature Reserve in Seychelles by the provision of funds for the purchase of equipment, employment of conservation staff and other related activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing document was created by a declaration of trust dated 19th January 2004 as amended by supplemental deed dated 14th April 2004.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1103702
Principal address
Hazeley Brook Keele Road Keele Newcastle-under-Lyme Staffordshire
Trustees
A P Skerrett Dr J Cadbury (resigned 15.5.21) E Palmer G Savy T Sands Ms L Cadbury J Benfield R Lucking
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ISLAND CONSERVATION SOCIETY UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Helen Tidyman DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR
Bankers
Barclays Bank Plc 118 High Street Newcastle-under-Lyme Staffordshire ST5 1RN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. A P Skerrett - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLAND CONSERVATION SOCIETY UK
Independent examiner's report to the trustees of Island Conservation Society UK
I report to the charity trustees on my examination of the accounts of Island Conservation Society UK (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Tidyman DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR
Date: .............................................
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ISLAND CONSERVATION SOCIETY UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 Unrestricted Endowment Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Charitable activities Aride 52,031 - 52,031 Investment income 2 8 28,048 28,056 Total 52,039 28,048 80,087 EXPENDITURE ON Charitable activities Aride 70,847 - 70,847 Alphonse - - - Total 70,847 - 70,847 Net gains on investments - 337,343 337,343 NET INCOME/(EXPENDITURE) (18,808) 365,391 346,583 Transfers between funds 8 28,048 (28,048) - Net movement in funds 9,240 337,343 346,583 RECONCILIATION OF FUNDS Total funds brought forward 75,713 701,255 776,968 TOTAL FUNDS CARRIED FORWARD 84,953 1,038,598 1,123,551 |
31.3.21 Total funds £ 52,473 30,935 83,408 63,157 199 63,356 - 20,052 - 20,052 756,916 776,968 |
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The notes form part of these financial statements
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ISLAND CONSERVATION SOCIETY UK
BALANCE SHEET 31 MARCH 2022
| Notes CURRENT ASSETS Investments 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Endowment funds TOTAL FUNDS |
Unrestricted fund £ - 85,733 85,733 (780) 84,953 84,953 84,953 |
Endowment fund £ 1,038,598 - 1,038,598 - 1,038,598 1,038,598 1,038,598 |
31.3.22 Total funds £ 1,038,598 85,733 1,124,331 (780) 1,123,551 1,123,551 1,123,551 84,953 1,038,598 1,123,551 |
31.3.21 Total funds £ 701,255 76,493 777,748 (780) 776,968 776,968 776,968 75,713 701,255 776,968 |
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The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A P Skerrett - Trustee
The notes form part of these financial statements
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ISLAND CONSERVATION SOCIETY UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment fund
Endowment funds are included at valuation at 31 March 2022.
The Aride Endowment Fund is a permanent fund held by ICS UK and administered for the benefit of Aride Island, Seychelles and ring-fenced in perpetuity for the funding of the financial requirements of Aride Island to operate as a nature reserve.
Rules:
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The capital of The Fund will be retained in investments in the United Kingdom or other international markets where there are no restrictions on transfers of foreign exchange through the banking system.
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The Board of trustees of ICS UK shall be responsible for the appointment of investment advisors.
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The Board of ICS UK shall review the performance of The Fund at least annually at the Annual General Meeting.
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Investment advisors will be instructed by ICS UK to adopt a medium to low risk approach to investment.
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No Trustee of ICS nor ICS UK shall receive any remuneration from The Fund other than reimbursement of expenses.
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Capital in The Fund shall be invested with the aim of equalling or exceeding the rate of inflation. 7. Capital from The Fund shall be ring-fenced. It will not be available to be paid to ICS UK for the running costs of Aride except in exceptional circumstances, such a situation to be agreed by at least two-thirds of ICS UK Trustees and approved at a Board meeting of ICS UK.
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ISLAND CONSERVATION SOCIETY UK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Fund accounting Rules: (continued)
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Notice for a meeting to approve a transfer referred to in clause 7 above shall include the amount proposed to be transferred from capital to revenue together with an explanation of the exceptional reasons deemed to be applicable.
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The income from the Fund will be paid to a bank account of ICS UK which is dedicated solely to the administration of Aride and its associated scientific programmes.
2. INVESTMENT INCOME
| Endowment Fund Interest receivable |
31.3.22 £ 28,048 8 28,056 |
31.3.21 £ 30,911 24 30,935 |
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Endowment fund fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities Aride 52,473 - Investment income 30,935 - Total 83,408 - EXPENDITURE ON Charitable activities Aride 63,157 - Alphonse 199 - Total 63,356 - NET INCOME 20,052 - |
Total funds £ 52,473 30,935 83,408 63,157 199 63,356 20,052 |
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ISLAND CONSERVATION SOCIETY UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
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|4.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|
|Unrestricted|Endowment|Total|
|fund|fund|funds|
|£|£|£|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|55,661|701,255|756,916|
|TOTAL FUNDS CARRIED FORWARD|75,713|701,255|776,968|
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5. TANGIBLE FIXED ASSETS
The freehold of Aride Island Nature Reserve, Seychelles, was acquired on 17th October 2008 from Royal Society of Wildlife Trusts in consideration of the sum of £1, which was waived.
6. CURRENT ASSET INVESTMENTS
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|---|---|---|
|31.3.22|31.3.21|
|£|£|
|Endowment Fund|1,038,598|701,255|
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During the year, the endowment fund was revalued to its fair value at 31 March 2022 of £1,038,598 and a gain recognised within the statement of financial activities of £337,343.
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|7.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|31.3.22|31.3.21|
|£|£|
|Other creditors|780|780|
|8.|MOVEMENT IN FUNDS|
|Net|Transfers|
|movement|between|At|
|At 1.4.21|in funds|funds|31.3.22|
|£|£|£|£|
|Unrestricted funds|
|General fund|75,713|(18,808)|28,048|84,953|
|Endowment funds|
|Endowment Fund|701,255|365,391|(28,048)|1,038,598|
|TOTAL FUNDS|776,968|346,583|-|1,123,551|
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ISLAND CONSERVATION SOCIETY UK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 52,039 (70,847) Endowment funds Endowment Fund 28,048 - TOTAL FUNDS 80,087 (70,847) Comparatives for movement in funds At 1.4.20 £ Unrestricted funds General fund 55,661 Endowment funds Endowment Fund 701,255 TOTAL FUNDS 756,916 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 83,408 TOTAL FUNDS 83,408 |
Gains and Movement losses in funds £ £ - (18,808) 337,343 365,391 337,343 346,583 Net movement At in funds 31.3.21 £ £ 20,052 75,713 - 701,255 20,052 776,968 Resources Movement expended in funds £ £ (63,356) 20,052 (63,356) 20,052 |
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ISLAND CONSERVATION SOCIETY UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Endowment funds Endowment Fund TOTAL FUNDS |
At 1.4.20 £ 55,661 701,255 756,916 |
Net movement in funds £ 1,244 365,391 366,635 |
Transfers between At funds 31.3.22 £ £ 28,048 84,953 (28,048) 1,038,598 - 1,123,551 |
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Endowment funds Endowment Fund TOTAL FUNDS |
Incoming resources £ 135,447 28,048 163,495 |
Resources expended £ (134,203) - (134,203) |
Gains and Movement losses in funds £ £ - 1,244 337,343 365,391 337,343 366,635 |
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The endowment fund is included at valuation at 31 March 2022.
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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ISLAND CONSERVATION SOCIETY UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| INCOME AND ENDOWMENTS Investment income Endowment Fund Interest receivable |
31.3.22 31.3.21 £ £ 28,048 30,911 8 24 |
|---|---|
| Charitable activities Cadbury & Bower Trusts Donations Other Income |
28,056 30,935 33,000 40,000 18,993 12,455 38 18 |
| 52,031 52,473 |
|
| Total incoming resources EXPENDITURE Charitable activities Sundries Project Expenses Transfer to Seychelles Equipment Costs Consultancy Fees |
80,087 83,408 67 - 2,762 2,188 67,238 56,246 - 189 - 3,953 |
| Support costs Finance Professional Fees |
70,067 62,576 780 780 |
| Total resources expended | 70,847 63,356 |
| Net income before gains and losses Realised recognised gains and losses Realised gains/(losses) on programme related investments |
9,240 20,052 337,343 - |
| Net income | 346,583 20,052 |
This page does not form part of the statutory financial statements
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