Charity registratlon number 1108273 (England and Wales) THE MAXFIELD NATURE CONSERVATION TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 THE MAXFIELD NATURE CONSERVATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R N Hobbs Mr J Wllsher Mr B J Yales S?cretary Charlty number Mr J Willsher 1108273 Principal address Maxfield Manor Three Oaks Eighteen Pounder Lane Hastir4Js East Sussex TN354NU Independent examlmr Harding &As3ociates LLP Copthorne Business Suite Coplhorne Way Copthorne West Sussex RH10 3PG THE MAXFIELD NATURE CONSERVATION TRUST CONTENTS Paye Truslees, report Independent examinerfs report Statement of financial activities Balance sheet Note8 to the finan¢kg1 statements 6-15 THE MAXFIELD NATURE CONSERVATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees present their annual report and financial statements for the year ended 5April 2025. The finanaal st8tements have been prepared in accordance wilh the accounting policies set out in note 1 to the financial statemènts and ¢omply wrth th& d)aiity's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Ch8rities'. Sialemenl of Recommended Practice 8pplirabl8 to charities preparing their accounls in accordanet with the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021° las amended for accounting periods cornrnencing from 1 January 20191. Tho ch8rty has also adopted the Charity Govemance Code whKh cbsety aligns with the charity's Trusl Deed. Objectives and activities The d)artty's objects and principal activiti'es are.. l. To promote and conserve the physical and n8luT81 environment by protecting. creattng and restoring biortiversity in the uppe¥ reaches of the River Brede Valley and elsewhere for the benefit of the public. 2. To promote public education in connection wrth the physi￿1 and natur81 environment and the fiora and fauna of th81 ènvirtsnment. 3. To support the study of ecology and conservation. 4. To promote such other exclusivety charitable object as the Trustee5 5h811 deade. The trvstees have paid due regard lo gJJidance issued by the Charity Commission on public benelf( in deriding what acb'vilE5 the charity should undertake. Achlevements and perfomianco The main area of charitable activtty is to support the study of ewlogy aad natsjre conservation, which the charity has continuod lo do during the year. In association with the Friends of the Brede Valley. the Trustees have continued lo ¢onlribule to the prOd￿tIOn of the Brede Valley Wildlife publication. Fin•n¢lal r•view D¢Jring the year the ¢h8rty received gr8nls of £80,191 12024 - £49,279) and other income of £8,154 12024 £6.265} and incurred total expendrture of £82.228 12024 £36,111) gbving rise to a surplus of £6,117 12024 sufplus of £19,433) for the year. Unreglricted funds available to carry fomard amounted to £232,248 12024 £226.1311. rlncl al f ndi Aside from voluntary income from donations, the p￿napa1 fvnding source for the charity is currently by way of grants from the Countryside Stewa¥dship Scheme, It is the policy of the charty that unrestricted funds which have not been designated for a specific use should be maintained at 3 level equivalent lo be￿een three 8nd six rnonlh's expenditurè. The trustees considets that reserves at thi$ level will ensure that, in the event of a significant drop in fvndiny, they will be able to continue the char(ty's ¢urrenl activities while consideration is given to ways in whi¢h additional funds may be raised. This kvel of reserves h85 been maintained Ihroughoul the year. The Management Cornmittee has reviewed the charity's reserves now stsnding at £614,691 12024 - £608.574} After dedudirtg the sum of £382,443 12024 - £382,443) eamiarked for the Heritag¢ Assets, the uncommitted reserves freely available for current acts'vities amount to £232,248 12024 - £226,1311. Thi5 is $uffi¢iènl for the charity's needs in nomial arcUMstan￿$ for at least the next tr4elve months. THE MAXFIELD NATURE CONSERVATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 The Management Committee has conducted a review ofthe major risks to which the charity is exposed. Where appropriate, systems of pro¢èdures have been established to mitigate the risks the charity faces. Internal control risks are rninimised by the rmplemenlation of Pfoceduie5 for authorisation of all transactions and projects. Procedures are in place to ensure ¢omplian¢e with health 8nd safety ol volunteers, clients and visitors to the locality. These procedure8 are periodically reviewed to efisuie that they m¢¢1 the needs of the charity. Structur¢, governance and managernent ocum The Maxfield Naluf¢ Conservation Trust wa8 ￿giStered as a ¢h8rity with the Charity Commission on 23 February 2005 {Charty Re91slralion No. 1108273}. The d)artty Is governed by ts Trust Deed dated 10 February 2￿5. The Iruslees who served during the year and up lo th8 date o16ignalure of the financial $18lements were.. Mr R N Hobbs Mr J Willsher Mr 8 J Yates Recruitment an mmi The TtU5tees are elecled 88 members of Ibe Management Committe$. As a small organisation, it has not been considered ne¢essary lo institute a fomial training programme for new Trustees. anis The Maxfield Nature Conservation Twsl has a Management Committee of three members who meet quarterly and are responsible for the strategic direction and policy of the charity. In so far as it is complimentary lo the charity's objects, the charity is guided by both local and national policy. The charity had no interest in these organisations. Plans for future perlods The charity plans lo continue the activities outlined above in the forthcoming years svbi'ect to satisfaclory funding arrongemerts. The charity policy is, therefore. lo continue build￿n9 UP the free reserves by means ol annual operating surpluses. Supplemented by general appeals from tirne to lime. The trustees, report was approved by the Board of Trustees. Mr J Wlllsher Trustee Dated.. 11 March 2026 THE MAXFIELD NATURE CONSERVATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAXFIELD NATURE CONSERVATION TRUST I rewrt to the trustees on my examination of the finanaal statements of The Maxfield Nature Conservation Trust {the charity) for the year ended 5 April 2025. Responslbllltles ba¥is of report As the Iruslees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in resped of my examination of the charitys financial $latement$ carried out under sectSon 145 of the Charities Act 2011. In carrying out rny examination I have followed the Dir6dions givèn by the Charty c￿nMiSsion under se¢tlon 14515llbl of the Charitie3 Act 2011. Independènt examinerfs statement Your attention is drawn to th8 fact that the charity has prépar8d financial statements in accordatxe with Accounting and Reporting by Charrf(ies'. Sl8lemenl of Recornrnendod Practice applwble lo chaTth"es prepariThJ their accounts in accordance with the Finan¢BI Reporting Standard applicablè in tha UK and RepublK of Ireland IFRS 1021 in preferen1￿ to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 whith is referred lo in the exlanl regulallons bul has now been wilhdrawn. l understand that thi$ has been done in order for financial ststements to provide 8 Irutr and fair vlew in accordance with Gènérally A¢¢epled Accounting Practice effe¢tive for reporting periods b￿Inning on or aftèr 1 January 2015. I have completed rny examination. I confirm that no material matters have come to my attention in connectic with the examinallon giving me cause to believe that in any material respe¢t'. accounting records were not kept in respect of the d)arity as required by section 130 of the Charities Act 2011. the financial slalements do not accord with those records., or the financial statements do not comply wlth the appllcable requiremènts concèmlng the fomi and cont&nt of financial statements 58t out in the Ch8rilies (Accounts and Reports) Regulations 2(X)8 other than any requirement that the financial $tatement$ 9ive a tr￿ and fair view. which is not a matter considered as part of an independent gxarninalion. I have no concèms and have corne 8cross no other matters in conne¢tSon with th& ex8min8tton to which attention should be drawn in this report in order lo enable a proper understanding of thè financial statements lo be reathed. M J HaTding FCA FCCA Harding & Associales LLP Independent ExAmin8r Copthome Business Suite Coplhome Way Copthorne Wesl Sussex RH103PG D8ted'. 11 March 2026 THE MAXFIELD NATURE CONSERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5APRIL 2025 Unrestricted End￿mefit fund$ funds 2025 2025 Totsl Unrostrlet•d Endovmient funds funds 2024 2024 Total 202S 2024 Notes Income froffl.. Donations and legacies Other trading aclivrties Inve5trnenls 80,558 1,050 6,737 80,558 1,050 6,737 49.373 4.166 2,005 49,373 4,166 2,005 Total Income 88,345 88,345 55.544 55.544 Exp•nditur• on= Ftjndiaising 8nd publicity 78.713 78.713 26,924 28.924 Charitable activttles 3,515 3,515 9.187 9.187 Total exponditu 82.228 82,228 36,111 36.111 Net income and movement in funds 6,117 6.117 19.433 19.433 Reconclliatlon of funds.. Fund balances at fj April 2024 226.131 382,443 608,574 206.698 382,443 589.141 Fund balances at S April 2025 232,248 382,443 614,691 226.131 382,443 608,574 The stalement of financial activities includes all gains ltsssts recognised in the year. All irKome and expenditure derive from continulng a¢livrti¢s. THE MAXFIELD NATURE CONSERVATION TRUST BALANCE SHEET ASAT5APRIL 2025 2025 2024 Flxed assets Tangible assets Heritgge 8s5ets 13 14 16,141 382,443 11.642 382.443 398,584 394,085 Current assets stocks Debtors Cash at bank and in hand 15 16 2,500 66,SS3 154,773 12.770 61,047 143,492 223.926 217.309 Credltor$: amounts falling du* wrthin one year Other credito 17 7,819 2,820 Net ¢urrent assets 216,107 214,489 Total ajsets les$ ¢urrent118bilitie$ 614,691 608,574 Th* fvnds of the charity Endowment funds Unrestricted fund5 18 19 382,443 232,248 382,443 226, 131 614,691 608,574 The financial staterrtsTrts were approvsd by the trustees on 11 March 2026 Mr R N Hobbs Tru$tee THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng poll¢ie$ Charity knfomiation The Maxfield Nature Conserv8tK)n Trusl is a regisler8d tharity in England and Wales and is unincorporated. The address of the prinapal office Is Maxfield Manor, Three Oaks. Eighteen Pounder Lane, Hastings. East Sussex, TN35 4NU. 1.1 Accountlng convention The finandal slalemenls have been prepared in 8¢cordance with the (*arity's Trust Deed, the Char*ties Act 2011 and °A¢wunling and Reporting by Charities.. Slalement of R6commended Practice applicable to ehaiities preparin9 their arLounl$ in aceordance wtth the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" las amended for accounting peiitsd5 commencing from 1 January 2019). The charity Is a Public Benefil Enlrty as defined by WRS 102. The Charity has taken advantage of the provishjns in the SORP for smaller charluès not to prepara a Statement of Cash Flows. The financial slalements have departed from the Charities (Accounts and Report51 Réyulation5 2008 only to the extent required to provide a true and fair view. This departure has inVo￿ed following the Statement ol Recommended practi￿ for charities applying FRS 102 rather than Ihe vefgon of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in slerling, which is the functional currency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The finanaal statements have been prepared under the historical cost convention. The prinapal a￿OUntIng policies adopted are set out below. 1.2 Going concem Al the time of approving the ￿nan￿al statements. the trustees have a reasonable expe¢t81ion that the d)arity has 8dequale resourTrs to continue in operational existence for the foreseeablè future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the fin8nci815talemènts. 1.3 Charltablg fitnd$ Unrestricted ILtnds are available for use at the discretion of the trustees in furtherance tsf their charitab objectives. Designated funds afe unrestricted fvnds earmarked by the Ttustees for a particular future project or commitment. Restricted funds are subject lo spe¢rfi¢ ¢onditlons by donors or grantors as to how they rnay be used. The purposes and uses of the restrided funds are set OLtrt in the notes to the financial statements. Endowment funds are restricted funds subject lo specific conditions by donors that thè capital must be maintained by the charty. 1.4 Ine¢)mè All incoming resources are induded in the statement ol financial activities when entillemenl has passed to the charity.. Yi is probably that the economic benefits assoaated wrth the transacts'on will flow to the charity and the amount can be reliably mèasuréd. Cash donations are recognised on Teceipl. Olher donat￿nS are Tecognised once the ¢h8rity has been notffied of the dOnat￿on, unless performance conditions require deferral of the amovnl. In¢ome tax re¢ov¢r8bl¢ in relation lo donations received under GiftAid or deeds of covenant is reco9nised al the of the donation. THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Accountlng policies (Continued) Legacies are recogni5ed on ie¢eipi or olherrisg if the charity has been notified of an impending distribution, the amount is known. and receipt is expeded. If the amount 15 not known, the legacy is treated as a contingent asset. Income from donations or grants are recognised when there is evidence of enlrtlement to Ihe gift. receipt is probable and its amount be mèasurod rèli8bly. Income from trading activities is recognised once the goods have been supplied lo the puY¢haser, when both the income trom the sale and the ￿$¢ of the goods sold can be measured reliably. and re￿Ipl of the income is probable. 1.5 Expenditure Expenditure is re¢ognised on an acuuals basis 8$ 8 liability Is incuiied. Expenditure includes any VAT which cannot be fully rècov8red. and this is reported as part of the expenditL*re to which it relates. Costs of generaling fvnds ￿MprIse the costs associated with attracting voluntary income. Charitable expendrture comprises those costs incurred by the charity in the delivery of Its actIv￿leS and services for ils beneficiaries. It indudes both u)sls that can be allocated dirèctly to such aclivties and those ¢osts of an indirect nature necessary to support them. Governance costs include thosè costs associated with m6eting the constitutional and slattrtory requirements of the charity and inelude the independent examination fees and costs linked to the strategic rnanagernent of the charity. All costs are allocated between the expendrture categories of the SOFA on a basis designed lo retlecl the use of the resource. Costs relating to a particular activity are allocaled directly, others ale appDrtion8d on an appropriate basis. 1.6 Tangible flxed assots Tangible frxed assets are initially measuretl al cost antl $ubstrqu$nlly measured at cost or valuation, net of depreuation and any imp8irment103$es. Depreaation is recognised so as to write off the cost or valuation of assets ￿5S their residu81 va]ues over their useful INes on the following bases.. Agricultural buildings Plant and equipment Property improvements 20Y¢ on cost 20% on cost No depreciation The galn or1053 arising on the disposal of an asset 18 delerrnined 8$ tho difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Accountlng polle1&$ Icontlnuodl 1.7 Herltay assets The charity holds heritage assets. These are tangible fixed asset$ wr(h hi$lorical, artistic, scientffi¢. technological, geophysical or environmental qualities that are held and mainl8ined principally for their contribution to knowledge and culture. Newly purchased herit89e a55ets are c&pitalised and induded at cost induding any in¢ident81 expenses of acquisition. The charity has chosen not to adopt a policy of valuation, and therefore heritage assets continue to be cariiéd at historical c051, subj.act lo impairment Fav1￿. Where heritage assets were a¢quireEJ in past accounting periods and not capitalised. it can be difficult or costly to attribute a cost or v8lue lo them. In such cases, these assets are excluded from the balance sheel if reliable wst infonnation is not av¥ilabl8 and conventitsn81 valuation approaches lack sufficient rebability or Sl9nifiG4nl costs are involved in the recon$lruction or analysis tsf past accounting records or in valuation, which are onerous compared with the addits'on81 benefit derived by the users ol the accounts in assessing the loJsle&s' stewardship ol the assel5. Th6 very long expected lives of h8rits9e 8s$818. du8 to thèir nature, value and need to be protected and preserved means that depreaation is not maleTi81 and is, Iherefore, not provided. 1.8 Impalrment of fixèd assets Al each reporting dale, the charity rev¢ews Ihe carrying amoun18 of ils tangible assets to determine whether there is any indicalion that those assets have suffered an impairment loss. If any such indrcation exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss Irf any). Prior impaimients are also reviewed for possible reversal al each reporting date. 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs lo complètè and sèfl. Cost comprises direct materials and, where applicable, direcl labour costs and those overheads that have been inojrred in bringing the stocks lo their present location and condrtion. Items held for distribution at no or nominal consideration are measured the lower ol replacement cost and cost. Nel realisable value 18 the eslimaled selling price les$ all eslim*ed ¢ost$ of completr'on and costs to be incurred ir¢ marketing, sellir@ and distribution. 1.10 Ca¥h and cash equivalents Cash and ￿$h equivalent$ indude cash In hand. deposits held at call with banks. other short-lerm liquid investments with origin81 matuirtie5 of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie8. 1.11 Flnanclot in$truments The charity has elected to apply the provisions of Section 11 'Basic Finanaal Instruments. and Section 12 'Other Finanaal Instruments Issues. of FRS 102 to all ol ils financial ir*slrumenl5. Financial instruments are recognised in the charitls balan￿ sheet when the charty bo¢omos party lo the contractual provisions of the Instrument. Financial assets and liabilitifys are offsel, with the net amounts Presented in Ihe finan¢t81 $¢81ements, when there is a legally 8nfoTceablè right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneousty. THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Ae¢ountrng policies Icontlnuedl Basi¢ financial as$gts Basic financial assets. which include debtors and cash and bank balances, are inil'ally measured ai transaction price including Ir8n$8clion cos15 and aré subsequen￿Y caiiied al amortised cost using the effective interest method unless the arrangement constitutes a finanung transaction. where the transaction is measured al the piesenl value of the future re¢eipls discounted al a market rale of interesl. Finanaal assets eL4ssified as receivable within one year are not amortised. Basi¢ financial liabilities Basic financial liabilrties, indudin9 cred¢ttsr5 and bank loans are initially rgcognised at transaction price sjnless the arrangement constitutes a finanting transaction, where the debt instrument is measured at the present valuo of the future paymen15 discounted at a market rale of tnteiest. Finan¢ial liabilities classified as payable within one year ar& nol amorti58d. Debt Instruments are subsequenlly carried al amortised ￿8t, Using the effedivg Intèrast rate method. Trade c￿dItorS are Obligatior￿ lo pay for goods or seryt￿S that have bagn a¢quir$d in the Ordin￿ course ol operab.ons from supplier5. Amounts payable are classified as current liabilities rf payment is due within one year or les5. If not, they are presented as non-current liabilities. Trade creditors are recognised initialty at Iran58ction price and subsequently measured at arrortised cost using the effectwe intèrest mathod. D•r¢¢ognltion of flnanclal liabllities Financial liabilities 8r& derecognised when the ¢hariVs ¢wlra¢Xual obligations expire or are disdtarged or cancellad. 1.12 Employee ￿￿ti￿t$ The cost of any unused holiday entitlement is recognised in the period in which the employee'8 service5 are received. Termination beneffts are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. CritScal accountlng •stimat•s and ludg•m•nts In the appli¢alton of tho ¢hatlty's accounllng poliues. the trustees are required to make judgements. estimates and assumptions about the carryin9 amount of assets and liabilities that are not readily apparent from other SoUr￿s. The estimates 8nd associated assumptions are based on historical experience and oiher factors that are consid6réd to bs rèlevant. Actu81 resuhs may diffèr from th$sè estimates. The estimates and underlying assumptions aro reviewed on an ongoing basis. Revisions to a￿oUnting estimates are reco9nised in the period in which the estimate is revised where the revision affects C￿lY that period. or in the period of the revision and future periods where the revision affects both oJrrenl and future periods. THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 Income from donations and kgacies Unre¥tri¢ted Unr•8tricted funds funds 2025 2024 Don811ons and gifts Grants 367 80.191 49.279 80,558 49.373 Grants CounlrysKle Slewardship Scheme 80.191 49,279 80,191 49,279 Income from other trading activities Unr•strlcted Unrestrlctod funds funds 2025 2024 Letting and li￿nsing arrangements Other incorne 2,000 2.166 1,050 Othgr Irading activities 1,050 4.186 Investm8nts unre3trlct￿ Un￿StrICted funds funds 2025 2024 Olher interest receivable Bank intèrest receivable 230 6.507 215 1.790 6.737 2,005 10- THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Exp&nditure on raising funds Unrestricted UnrestrScted funds funds 2025 2024 Grant-rol•ted costs Seeking donations, grants and legaues 78,713 26,924 Charitable actlvlties CharStsble Charitablo Ex￿ndIture Expènditurè 202S 2024 Conservation actiVit￿S Share of support c()sls l$ee note 81 Share of governance costs (see note 81 95 3.420 17 3.307 3,515 9.187 Support costs allocated to actlvltles 2025 2024 Support costs Governance costs 95 3,420 17 3,307 3,515 3.324 Analysed betr￿en.. Conservation activities 3,515 3,324 Not movement in funds 2025 2024 The nel movement in funds is stated after chargingl{CTeditingl'. Fees payable for the independent examination of the charitys financial statements Depreciaiion of owned tangl￿e fixed avJe13 2,880 1,651 2.820 421 10 Trusteos None of the trustees {or any persons connecte