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← Island Conservation Society UK

2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1103702

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ISLAND CONSERVATION SOCIETY UK

ISLAND CONSERVATION SOCIETY UK

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025

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 11

ISLAND CONSERVATION SOCIETY UK

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 increased during the year ended 31 March 2025 from £1,053,727 to £1,083,706; this increase included £18,900 increase in capital invested. A new liquidity portfolio was opened with Sarasin and Partners in order to obtain higher interest on cash reserves; this held a balance at the end of the year of £28,844. Investment income was similar to the previous year at £30,261 (2024 £29,749) . UK charitable trust supporters of the charity provided contributions totalling £55,500 in the year (2024 £102,000). Donations from other parties were £12,100 (2024 £18,700). Small sums received from other sources took total income to £101,211. The charity donated £95,871 to Aride Island Nature Reserve, Seychelles. It allocated £54,041 to running costs and the balance to equipment costs of £41,830. The high contribution to equipment costs included a final payment of £30,889 towards a new PV system for Aride Island; the total contribution agreed for the system was £105,000.. Equipment costs also included £5,627 for a boat repair, £4,907 for project costs and £407 other equipment costs. The administration costs of running the charity were £3,208, giving total expenses £99,079.

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

Page 1

ISLAND CONSERVATION SOCIETY UK

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

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 1PT

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 2025.

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

  2. 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 2025

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Alphonse
Aride
Investment income
2
Total
EXPENDITURE ON
Charitable activities
Alphonse
Aride
Total
Net gains 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
£
500
70,450
1,105
72,055
-
99,079
99,079
-
(27,024)
10,256
(16,768)
48,588
31,820		 Endowment
fund
£
-
-
29,156
29,156
-
-
-
11,079
40,235
(10,256)
29,979
1,053,727
1,083,706		 31.3.25
Total
funds
£
500
70,450
30,261
101,211
-
99,079
99,079
11,079
13,211
-
13,211
1,102,315
1,115,526		 31.3.24
Total
funds
£
1,150
120,271
29,749
151,170
1,150
177,466
178,616
77,481
50,035
-
50,035
1,052,280
1,102,315

The notes form part of these financial statements

Page 4

ISLAND CONSERVATION SOCIETY UK

BALANCE SHEET 31 March 2025

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
£
-
32,764
32,764
(944)
31,820
31,820
31,820		 Endowment
fund
£
1,083,706
-
1,083,706
-
1,083,706
1,083,706
1,083,706		 31.3.25
Total
funds
£
1,083,706
32,764
1,116,470
(944)
1,115,526
1,115,526
1,115,526
31,820
1,083,706
1,115,526		 31.3.24
Total
funds
£
1,053,727
49,446
1,103,173
(858)
1,102,315
1,102,315
1,102,315
48,588
1,053,727
1,102,315

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 2025

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 2025.

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.

Page 6

continued...

ISLAND CONSERVATION SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES - continued

Fund accounting Rules: (continued)

  1. 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.

  2. 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

INVESTMENT INCOME
Endowment Fund
Interest receivable		 31.3.25
£
29,156
1,105
30,261		 31.3.24
£
28,900
849
29,749

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

31.03.25 31.03.24
Trustee Mr R Lucking Mr R Lucking
Amount of expenses £0 £1,312
Trustee Mr A Skerrett Mr A Skerrett
Amount of expenses £54 £212
Trustee Mr T Sands Mr T Sands
Amount of expenses £0 £52

The expenses were reimbursed to the trustee's on behalf of the charity.

The expenses totalling £54 (2024: £1,576) reimbursed to trustees are travel, (2024 travel, postage and telephone) expenses that are directly attributable to the charitable activities.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Charitable activities
Alphonse
Aride
Investment income
Total		 Unrestricted
fund
£
1,150
120,271
849
122,270		 Endowment
fund
£
-
-
28,900
28,900		 Total
funds
£
1,150
120,271
29,749
151,170

EXPENDITURE ON

Page 7

continued...

ISLAND CONSERVATION SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted Endowment Total
fund fund funds
£ £ £
Charitable activities
Alphonse 1,150 - 1,150
Aride 177,466 - 177,466
Total 178,616 - 178,616
Net gains on investments - 77,481 77,481
NET INCOME/(EXPENDITURE) (56,346) 106,381 50,035
Transfers between funds 28,900 (28,900) -
Net movement in funds (27,446) 77,481 50,035
RECONCILIATION OF FUNDS
Total funds brought forward 76,034 976,246 1,052,280
TOTAL FUNDS CARRIED FORWARD 48,588 1,053,727 1,102,315
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
31.3.25 31.3.24
£ £
Endowment Fund 1,083,706 1,053,727

During the year, the endowment fund was revalued to its fair value at 31 March 2025 of £1,083,706 and a gain recognised within the statement of financial activities of £11,079..

Page 8

continued...

ISLAND CONSERVATION SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
8.
MOVEMENT IN FUNDS
At 1.4.24
£
Unrestricted funds
General fund
48,588
Endowment funds
Endowment Fund
1,053,727
TOTAL FUNDS
1,102,315
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
72,055
Endowment funds
Endowment Fund
29,156
TOTAL FUNDS
101,211
Comparatives for movement in funds
At 1.4.23
£
Unrestricted funds
General fund
76,034
Endowment funds
Endowment Fund
976,246
TOTAL FUNDS
1,052,280		 Net
movement
in funds
£
(27,024)
40,235
13,211
Resources
expended
£
(99,079)
-
(99,079)
Net
movement
in funds
£
(56,346)
106,381
50,035		 31.3.25
£
944
Transfers
between
funds
£
10,256
(10,256)
-
Gains and
losses
£
-
11,079
11,079
Transfers
between
funds
£
28,900
(28,900)
-		 31.3.24
£
858
At
31.3.25
£
31,820
1,083,706
1,115,526
Movement
in funds
£
(27,024)
40,235
13,211
At
31.3.24
£
48,588
1,053,727
1,102,315

Page 9

continued...

ISLAND CONSERVATION SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

8. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
122,270
Endowment funds
Endowment Fund
28,900
TOTAL FUNDS
151,170
A current year 12 months and prior year 12 months combined
At 1.4.23
£
Unrestricted funds
General fund
76,034
Endowment funds
Endowment Fund
976,246
TOTAL FUNDS
1,052,280		 Incoming
resources
£
Unrestricted funds
General fund
122,270
Endowment funds
Endowment Fund
28,900
TOTAL FUNDS
151,170
A current year 12 months and prior year 12 months combined
At 1.4.23
£
Unrestricted funds
General fund
76,034
Endowment funds
Endowment Fund
976,246
TOTAL FUNDS
1,052,280		 Resources
Gains and
expended
losses
£
£
(178,616)
-
-
77,481
(178,616)
77,481
position is as follows:
Net
Transfers
movement
between
in funds
funds
£
£
(83,370)
39,156
146,616
(39,156)
63,246
-		 Movement
in funds
£
(56,346)
106,381
50,035
At
31.3.25
£
31,820
1,083,706
1,115,526

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
£
194,325
58,056
252,381		 Resources
expended
£
(277,695)
-
(277,695)		 Gains and
Movement
losses
in funds
£
£
-
(83,370)
88,560
146,616
88,560
63,246

The endowment fund is included at valuation at 31 March 2025.

Page 10

continued...

ISLAND CONSERVATION SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 11