2023-03-31-accounts - Island Conservation Society UK

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REGISTERED CHARITY NUMBER: 1103702

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ISLAND CONSERVATION SOCIETY UK

ISLAND CONSERVATION SOCIETY UK

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

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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
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ISLAND CONSERVATION SOCIETY UK

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 fell during the year ended 31 March 2023 from £1,038,598 to £976,246. Investment income, however was similar to the previous year at £28,209 (2022 £28,056) . UK charitable trust supporters of the charity provided contributions totalling £36,000 in the year (2022 £33,000). Donations from other parties were £16,031 (2022 £18,933). Small sums from other sources including interest received and Amazon Smile increased total income to £83,009. The charity donated £90,100 to Aride Island Nature Reserve, Seychelles allocated £60,000 to running costs and the balance to capital expenses. The administration costs of running the charity were £803, giving total expenses of £91,927.

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 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 2023

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 2023.

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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
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 2023

Notes INCOME AND ENDOWMENTS FROM Charitable activities Aride Investment income 2 Total EXPENDITURE ON Charitable activities Aride Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 8 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 54,800 161 54,961 91,928 - (36,967) 28,048 (8,919) 84,953 76,034	Endowment fund £ - 28,048 28,048 - (62,352) (34,304) (28,048) (62,352) 1,038,598 976,246	31.3.23 Total funds £ 54,800 28,209 83,009 91,928 (62,352) (71,271) - (71,271) 1,123,551 1,052,280	31.3.22 Total funds £ 52,031 28,056 80,087 70,847 337,343 346,583 - 346,583 776,968 1,123,551

The notes form part of these financial statements

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ISLAND CONSERVATION SOCIETY UK

BALANCE SHEET 31 March 2023

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 £ - 76,814 76,814 (780) 76,034 76,034 76,034	Endowment fund £ 976,246 - 976,246 - 976,246 976,246 976,246	31.3.23 Total funds £ 976,246 76,814 1,053,060 (780) 1,052,280 1,052,280 1,052,280 76,034 976,246 1,052,280	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

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 2023

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 2023.

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:

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.
The Board of trustees of ICS UK shall be responsible for the appointment of investment advisors.
The Board of ICS UK shall review the performance of The Fund at least annually at the Annual General Meeting.
Investment advisors will be instructed by ICS UK to adopt a medium to low risk approach to investment.
No Trustee of ICS nor ICS UK shall receive any remuneration from The Fund other than reimbursement of expenses.
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 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

Rules: (continued)

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.
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

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|||| |---|---|---| |31.3.23|31.3.22| |£|£| |Endowment Fund|28,048|28,048| |Interest receivable|161|8| |28,209|28,056|