**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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Page
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
Page 1
**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
Page 2
**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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Tidyman DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR
Date: .............................................
Page 3
**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|
|---|---|
The notes form part of these financial statements
Page 4
## **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|
|---|---|---|---|---|
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
Page 5
**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:**
1. 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.
2. The Board of trustees of ICS UK shall be responsible for the appointment of investment advisors.
3. The Board of ICS UK shall review the performance of The Fund at least annually at the Annual General Meeting.
4. Investment advisors will be instructed by ICS UK to adopt a medium to low risk approach to investment.
5. No Trustee of ICS nor ICS UK shall receive any remuneration from The Fund other than reimbursement of expenses.
6. 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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continued...
**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)**
8. 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.
9. 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|
|---|---|---|
## **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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continued...
**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|
**----- End of picture text -----**
## **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|
**----- End of picture text -----**
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continued...
**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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continued...
**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|
|---|---|---|---|
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|
|---|---|---|---|
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.
Page 10
**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
Page 11