East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Annual Report Year Ended 31 March 2022 Company Raglstration Number 5413877 Charlty Number 1109514 PKf FRANCIS CLARK Shar•d Amblllon East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Financial Statements Year Ended 31 March 2022 coKrENTS PAGES Trustees Annual Report (incorporating the Directors. rewi for the purposes of s415 companies act 20061 1-13 Independent examinerfs report to the members 14 Statement of financ¢al aciivities 15 Balar￿ sheet 16 Notes to the financial Statements 17-26 East Devon Pebblebed Heaths Constlrvation Trust Company Limited by Guarantee Trustees Annual Report Ilncorporaling the Directors, Report for the Purposes of S415 Companies Act 2006) Year Ended 31 March 2022 The Trustees present their Report and Financial Stalemenls for the year ended 31 March 2022. They are satisfied that Ihe Financial Sialemen15 c(Mnpty wth the Tequiremen15 of 'he Charities Act 2011, the goveming document as dèscribed below and Accounting and Reporting by Charities Slalemenl of Re¢ommended Practice applicable lo charities preparing their accounts In accordance with the Fiiiancial Reporting Siandard appI￿a￿e in Ihe UK end Republi¢ of IreLand IFRS 1021 leff¥tNe 1 January 20191- {Chant￿$ SORP IFRS 10211. Oblectlves and ActlvltJ•s The objKts of the ¢haritable company are to promote, for the benefit of tlie public. the conservation, protection and Improvement ol the ptty5ical and natural environment within the area ol the East Devon Pebb￿bed Heaths and the Otter Estuary. Our wsfon for the Pebbleted Heaths and the Ott>r Estuary to be places whose special qualities and rich history are understood by all, places where rare species can Iburish, and where S￿lety'S ever ¢h8nging needs for ￿Tea110n. health and learning Can be fuWil*d_ In planning our aclivrty. the Trustees kept in mind the Charity Commlssior guidance on publi¢ benefit. The East Devon Pebblebed Heaths and the site of special Scientif￿ interest along the River Otter Estuary are managed by the charitable company lo provKle public acces5 for w21king. rambling and oiher cty)Irolled kxjrposes. pyblK educalw. and ¢onsgrvalion of the land for thè benefrt of future geneolion$. As part ol this work, the charitable company arranges.. PublK education th1o￿h %b*bsite ￿nIent. ly)oks, information trthids and leaflets about the a￿a, the Countryside Learning Project and public meetings with the healhlan(I wardens, the conseNat￿n manager and the education ¢)ff¢er. Prolectitsn, monrtoring and enhan¢ernenl ol wildlife habitats on the he)Ihlands and estuary. The prirnary aim ol practKal wnserv*K)n work al both site$ 1$ to de11ver'Favourable COnd￿On Slalu5' las defined by Nalural England), with each sile quinquennially assessed against key conservation criteria including habrtat quality and k>opulalt)n numbers of key wikjlrfe groups On the East Devon Pebblebed Heaths, practical conservation work is gukled by a ten-year management plan approNed by Natural England. with wgitor managernenl guided by a visitor management pLqn. Achievements and Performance The principal actNIty ol the charitab￿ Trust for the yearer￿￿ 31 March *D22 was the d8y lo day maintenan¢e. conseNation and improvèment of the Easl Devon Pebblebed Heaths Sita of Speci81 Scientific Interest Isssii and the River Otter Estuary SSSI. The work was conlraeled out to Iht. charitable company'5 wholty own8d 8ubsidiary, E8$1 Devon Heaths L8nd Management Company Limited, wlith rècaved partial funding from the Nat￿T￿l England Higher Laval Environmental Scheme {HLSI. Works of particular note during the year included." Con$•Nation Managèmènt colo ical M na em nt Pl All work follows the prescriptbtins of the Ecolc*3Kal Manag¥Thnl Plan. TfiY6 plan wll bè revi￿*￿ in 2022. The mqorty of this work is being funded by a Countryside Stewardship agrèement which started January 2017. running for ton years We wgre granted a lurther one*year HLS extens¥)n to the non SSSI areas ol Dakjilch Pbnt8lKJn and Mutters Ploor. A close opèrational partnership has been lOrr￿d to take a strategic aFproach lo rnanagement of the enli reserve wrth an advisory National Nature Reserve INNRI bo>ard also 3Stablished As part ol this work an overarching maste¥ plan will be created. A of w0￿$ho)S were held in auivmn 2021 10 inform this plan which 1$ dLtre to be finali$ed in 2022. East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Trustees Annual Report Ilncorporaling the Directors, Report for the Purposes of S415 Companies Act 2006) (conhnued) Year Ended 31 March 2022 In auturnn 2020 SSSI 8 Condition assessment was Carried oul by Natural England across the dry heath unrts with wel healhlmire assessed dunng summer 2021. The combined resutt5 from the assessment have not yet been made available. an ions As in previous years, our conservats.on work during the reporting per*xl has focused on addre551ng outstanding issues ￿lated to those areas not yel viewed as being in lavourable ccfjdition. Unfavourable slalus largely relates lo the signifi¢anl size ol even-aged heathland aThJ the presence ol loo much scrub. Scrub and tree managemenlduring the winter period largeled Hawkerland and East Budleigh commons. Daldilch and Mutters Moor. In total 1.53ha were targeted lor sciub and Iree removal This was a combination of s¢8ttered trees wrthin these a￿8$ and dense clumps of regeneration wrth birch and pine thg focus of the work. Follow up spot spraying of regeneration Ir¢m felling in the previous season. abng wilh spraying of seedling encroachment, aL80 look place Bracken management in the form of spraying l¢)Jk place on Cok*on Rale•3h aThJ Dalditch commons. Ash trees have 8190 been removed where thege were deemed to cause a rM)lentk41 heatth and safoty risk in line wrth Clinton Devon E5tate'$ proaramme lo address ash di? back across it5 land holaings. As with pre¥￿uS years bare ground (pioneer habitat) was created across the heaths. The objecttve ol this work being to create a greater drfferenlialDn In heathland structure ol all success￿rnal Siages but also to tie into management for sl1v￿￿tUdded blue buttefflies with this specEs needin9 earty st4e successional habitat lo thrNe. Vegetsticffi management in the fom of ffwing 8rKI raking off of an5ings. and Cutting bxk by hand, was aL50 carried out on a number of known SI￿r-s1Udded blue colony locatiens lo ensure that the habitat remains in an appropriale condib'on to sustain this species. During spring 2022 swailing was uryjertaken after Iwo year5 01 not being able lo carry cArt this management due to the weather and change In working pr￿tICe$ due to ¢wd 19. A lolal 0117 controlled bums were carried out covenng 5.58ha across Colalon Raleigh, Woodbury and Mutters Moor managernent units. Gr During summer 2021 B￿lon Cunmon was grazed 7 pon￿5 and 29 cattle1108hal. All f￿r graziThJ l(ws on Colalon Raleigh Common We￿ grazed ￿th 3 pDnEs in loop 1 and 28 Cows with 16 followers across the block 193hal. Hawkerfand common was grazed with 22 cattle and 9 ponE5175hal. Daldrtch Plantstion was grazed wilh 5 red devon cattle124hal. This is back up lo full capacty lor grating in terms of headage and hectarage. It was a challenging year for 9razing wrth the electric fence loop being tarnpered with by a member ol the public on a repealed basi5 creating additional work for the rangers. The catue on Daldrtch PlantatKsn were managed in partnershp vrilh Stantyw8y Farm and marketed a$'conservat￿n beef direct lo the public fof sale. The f*ld at Mount Pleasant adjacent lo Ha*rferland Common was re-lenced in spring 2022 to enable us lo continue rt use as an area lo IK)Id stock which neèd to be removed from the heaths. East Devon Pebblebed Heaths Cons(•rvation Trust Company Limited by Guarantee Trustees Annual Report Ilncorporating the Directors, Report for the Purposes of S415 Companies Ac 2006} (continued) Year Ended 31 March 2022 Ire Mana em Firebreaks have beèn maintained across Ihe Commons. No wli dfires ocI'.urred during 2021122. Due to the dry and hot conditions we operated urmler hvJh fire risk for extended pericd5 during the sumrner. A number of Membe￿ of Ihe publ￿ were spc&en to in relats'on to BBQS and ￿Mping. alh nd CreatKJn A heathland creation area adjacent to Blackhill Quarry continues to under Jo reStorat￿n as part of t￿ mrtgabon ka9e linked lo planning permission for part ol the quarry area to be rElained lor commerc￿1 use. Reserved oil from the quarry area along with arisings frcm scrapes on the SSSI w¢re spread on the area during wintei 2021 to further establish ￿athland vegetatM. The first units wrthin Bk%khill Quarry wh￿h underwent ￿$tOrat￿)n fdknvirig mineral extraclK)n are due lo come back to the estate from Aggregate Industnes in 2022. These bbcks will bi) managed by the Conservation Trust going lorward and so will be included In the ievised management plan. Oir 8pproJch to l)oth habiiat and people mana9tn￿nl wilh the lormer quarry area is currently beino discussed an£ the legal prO￿sS to transfer the land to us has stsrte¢y. Theffj 8re on-going issues reLaled to low kv&ls of tr¥sp#iSS by p(*JlK. Woodland CrealK)n During March 2021 and March 2022, a rnix of nalwe broadleaf trees weri.. planted in the small field (not part of the SSSII on Colalon Raleigh common. The initlal 250 were funded by a donation with a further 750 lunded Ihrough the P￿wATER initkative run by Weslcounlry Rivers Trust (WRT). The trees lunded by arè trialling new cardboard lubes. Inva ive on Dunng 2021 dearance aclwil*s ofb¥l$am anfj other invaswe spe¢ies havf,. been undertaken across Eslale land, often in partnershp wilh other groups ineluding the Otter Valley Associ81icTrn Himalayan balsam is generally not found the heaths but remains adjacent lo Ihern. There are several scattered populations ol CrocosmiA on East Budlew i and BKton Commons and 8 small kxoulatK)n ol threo-comered leek persists on the roadshle of HavA(erland, these are receiving annual t￿atMent. Lauwl has been Irealed on Woodbury and Colaton Fialeigh commons ancl Japanese kncthveed at locations 8Kton Common 8uddleia remains a problem on Easi Budleigh Common where hislorul diglurban¢e and $wnificanl inputs of lime ¢r&al&d id6al ￿nditionS for its growth. There are scattered plants in other areas that are due lo be targeled for rerrthial. Rhcdodendron on Daldrtch Comrron. and twddlw ￿ BKt(Jn Common. have been idenlffjed for renKval by our volunteer team. The Countryside Sleward$hip ICSI agreement provthd funds for a prc4'eX to remove Woc#Jbury Castle hillfort Schedu￿ ffKJnument off the Hentage ¥t Risk Regisler. The main work$ viere completed in 2017118 bul further management is ongoing. The bracken in the inlefiorwas spr8yed in summE.'r 2021 The sieps and erosK)n ￿p￿r5 fr(Yn the resloralK>n projoct arg working well. The￿ are some srnall ari¥as ol erosion from perslstent public aecess. however.. these are discrete areas rather than the widespread daniage that was seen before the project. Vdunleer sessions with tlevon County Council IDCCI Hislonc Environmènt tèam tackled Scrub in the interior and holty regeneration on the banks. Bare patches were spread with gras:. East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Trustees Annual Report (Incorporating the Directors, Report for the Purposes of S415 Companies Act 2006) (continued) Year Ended 31 March 2022 A management plan for the hilllort 15 currently bang created wrth Historic England Once agreed this will enable the mtsnumenl lo come off the al-risk register. Ecologlcal Monitoring A monitoring report covering the Last five years for SAC and SPA features has baen wwlied for South East Devon Habital Regulations Partnefship ISEDHRP) ￿porting and is available. Dartlord warbl Since 2018 this sperv￿ h•$ $le*Jity Inc￿3$8<1, wrth 2021 retuming a count of 173 lerrii0rio$ across the surveyed part ol the SSSI. The target for Dartford warblers is 123 lemlorEs across thè SSSI. This is currenlty being exceedad. Across the land managed by Pebb￿bed Plealhs Community Tnjst IPHCT) this wa5 176 up from 99 in 2020. This 9ive$ the highest total since before the cold winter of 2010111. The ringing study continues by members of the British Trust for Ornrthology IBTOI, though their surveys were limited due to covid 19 reStr￿ll0n$. Full details of the rirKJing study are availablo in a separate report cov8rirvJ the fNg years lo date. Consistent survey coverage continues across the SSSI and surrounding suitable habrtal Number5 remain rdalNety $table on the SSSI. with 74 churring Ma￿ recorded, wlh 58 recorded in total for land managed by PHCT Thè number iecorded for 2021 saw a slight reduction. This is in line with the picture elsewhere for this specie5 and is believed lo be due to the poor weather w)dilions during the spring Vdhih vnuhj have ¢04nuded with their arrival from rn1grat￿n This annual monrtonng ￿PreSentS & sl9n1f￿ant citizen st￿nCe and partnership prLyJramme. Southem On Cdaton Raleigh only 2 males were recorded. The Pebblebed Heaths overall exceed the lavourable condilion target which is that the total populalion must nolfall below 80 for four successive years. wr(h ev¥JenrE olbreedirvJ from all srtes Co¢aton Ral6vJh remains a cause of signthcanl concem. Adjuslmenls In management have b•en mad• to address the low numbers. Grazing pressure vras incfeased ovei the whole grazing loop, wilh ponies on site from earty In the spring alongside catue laler in the summer. The water flow from the reservoir pipe was also reinstated from April 2021. with a vafve to control the rale. Historulty the colony were 8ssacialed wrth a runnel fesutting from a in the pipe until il was mended in thè lale 1990s. It is suspected Ihal they then moved lo subtsplim81 habrtal The water from the reservoir that ran from the leak provided clgar water, possibty wrth a stable temperature, throughout ihe yeac. The impact of this rein51atemenl will be monrtored and flow manipulated as rgquired. liver S￿dded blue butteffl Another poor year follwing a cool winler and a cold wel May, which dèlayed Ihe flwJhl peric*J ofmany butte￿1 and the flcwering ol Enca ciner8a by about two weeks. Management work was Carried out on existing eok)nie8 as detailed in Heathland Management Operations, bul this will tthe some years to provhde ideal pioneer vegetation East Devon Pebblebed Heaths Consfirvation Trust Company Limited by Guara1tee Trustees Annual Report (Incorporating the Directors, Report for the Purposes of S415 Companies Acl 20061 (continued) Year Ended 31 March 2022 Bats Bats are monitored in the military buildings by the Devon Bal Group. Gieat and Lesser H¢Y5eshoe and Long eared are present. Monilonng stopped during the pandemi¢ ¢Jue to risk i)f cr05s species contaMinat￿n in lin¥ with Dev¢n Bal Group IDBGI polw. hers s ol inlerest Hen harrier. wtsre not recorded al the traditKJnal fOOSt ¥ite on Col*on Ral,>igh during the wnler sea50n. Curlew.. None were recorded. Replile5' Not recorded this year. The Snakes in the Heather project run b'i Amphibian and Reptile Conservation IARCI was due to start monrtoring in spring 2020. This project will 9￿alty improve our understanding of ￿PIlle5 on the heaths. However, the fieldwork w3$ delayed due lo covid 19. HaNest Mice. Surveys wilh De¥on Harvest Mouse prqed toc& place on IlaWKedand and Mutters Moor. Bees and wasp5'. No new spec*s were added. The total list femain5 at 135. Surw work was stopped due lo COVKI 19 but we anticipate Ihal it will restart in summer 2022. The site visil from the Bee Wasp and Ant Re¢¢rder Soclety has been postponed until June 2022. Visltor Management ma effle Visrtor m8n8gèmenl remains 8 key Challenge with the site already rece ving in excess of 400,000 viswear. Funding overseen by South East Devon Habilal RegublK)ns Partnershiii ISEDHRPI is available to IMp￿ment the recommendations of the Visrtor Management Plan for the Pebblebefl Heaths that has been in place Since 2016. This document idenlrfies the risks lo the Heaths from incre*ed ie¢reatK)nal P￿ssUre over Ihe ccffiing decade and Hlenlrfie6. C05t6 and provides fur￿1n9 lo implomenl measure'.tr lo mitigate these. Daia suggested that during the pandem￿ fcotfall increased by 65%. this made managing visrtors particularty challenging. with high levels sustained. During summer 2021 a ropgal Viiiilor survey funded by SEDHRP found that number ol visits had increased by an eslimaled 213°A since the or¥Jinal survey in 2015. This survey is desyned to monitor the effectiveness of the miligation measures that hn¢il print. broad¢ast and online media. The stories covered include the declarath)n of the new Pebblebed Fealhs National Nalure Reserve. the reopen1ng of the grenade rangè. improvement works getting underwali at the EDPH car parks. the Heath letlerboxing trail and the return ol Hgalh Week. A stand¥k)￿ lealure ab(￿1 the Heaths was also broadcasl on BBC Countryfile in January, during an episode abwl tha woth of Clinton l)evon E$tstes. cover￿ has i￿luded BBC Ong Counlryfik. BBC spot1￿ht, ITV West￿)unty, BBC Radio Oevon, Weslgrn Morning New$, Devon Live. Exmoulh Journal, Sidmoulh Herald, Midweek H•rald 8nd tha InYourAJea websrte Tho artidgs and broadcasts achieved a combined estirnaled brcadcasl reach of7.9million. a combined estsmated print cov•r8ge ¢ir¢UL41K￿ of 142.4k and combined online coverage views of 1.1nNllion. Research and knowledge exchang• Re earch Staff continue to work wrth Exeter Unfver5ty'8 V4lkyfwe L8b who gre sludying fire seventy nbadelling. In partnership with the Westcounlry Rivers Trust a ¢arb)n storage prqec". has beèn established wrth soil Cores taken from representatwe habrtats across the heaths. These are ¢urrenlly being anatysed Th¢5 work complements sustaina￿.11¢Y work related to Trust activities, including understanding our carbon foc4prinl. ndsh best clice There was a ￿Uct￿n in the number of srt¢s vis￿5 lo ¢thw wservgs dut. to ongoing ¢¢)VKI poli¢w although a staff visit lo Wildfowl & Wetlands Trust's Iwwri Sle8rt reserve wa5 held lo learn from their managed reali9nment piqect. Most sitè visits hosted during the reporting period have focused or the Lower Otter with groups inclLidin9 those from wr, Devon Wildlife Trust ID￿1. Environmgnt Agen¢y IEAI and the National Trust INTI as well as many kral interest groups. Extornal Use External ev Some ofthe more sunrfK8nl extemal evènts usualty held annualty on the h.JAth$werg Cancelled due to contin covid 19 re81rictTrgn$, including the Commando ChaI￿nge. However, many were able lo lake place and w8re well East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Trustees Annual Report (Incorporating the Directors, Report for Ihe Purposes of S415 Companies Act 20061 (continued) Year Ended 31 March 2022 atteThYed. fime is bejng invested into publKtsiThJ t￿ fact that permissiori 15 required for all events ag th*￿ 13 Still a lack ol awareness from 5C>me org8nisers in rei4lion 10 5rnal￿r events A livè events ¢8￿ndar ig mainlained on the website thal shcvls extemal as well as our own events. or nised 8nd ¢ommerci lact Businesses and groups known lo be operaling on the heaths awe I￿enCe￿ lo ensure that they operate in line wth our ￿nserVation objeclwes. A signifKanl ongoing effort has been made to ensure all that require a licence are approached. Particular effort was invested lo engage with commerckql dcg walkers. This licencing scheme has been well receNed. We currentty have 30 businesses on trJ)ard. We liaise wlh Ihetll regularfy, although the usual annual forum was postponed Other businesses linked lo recreation are also I￿enced, covering mountain bjking, horse riding. outdoor edUCat￿n, yoga and mindfulness We continue lo approach other groups such as running and walking clubs lo ensure they have the correcl permission for running organised a¢livitie$. MO All of the 750 recTUits that pass through Commando Training Centre Royal M8rines ICTCRMI Lymp51one each year aro given a K8Cture on the conseNaiKsn aThJ cultural Sign￿￿nCe ol the Pebblebed Healhs SSSI by Conservation Tfust stalf prior to training. Visrting MOD units receN• a briefing from Defence Infrastructure Organisalion IDIOI. The firing range on cota1¢￿ Raleiah C¢)mmon ¢ame back into use in February 2022 aftef being inactlve for over five years. al Act Illegal aclwily has taken place throughout the reporting period on an irregular basis, wth occasiorkil motorbike encroachment and regular and generally ￿)W levets ol fly-lipping. Ovemightsng in vans was more apparent during the year As part of the car park stralegy measures have been identified lo deler anli-social behaviour. These include lothable barriers, changin9 01 ¢ar park layouts and improving the vi$th)ility in lo parkirbg aoas as well as syns whi¢h clearly highlpht no camping etc. Otter Estuary Low r Otter Resloralion Pro ec After ten years in development work fin81ty began on the ddivery of the £15million Lower Otter Restcrfation PrDJe¢t ILORPI with inrtial work starting In autumn 2021. This is a partnership project bfj￿een the Estsle, the Conservation Trust and the EA with the EA leadin9 on infrastru¢lure delivery. Financkgl support has come from Interreg IFfance£hannel-ENJland Progr8mmel. The inltial focus of work l$in¢• September 20211 ha$ b￿n veg•tati¢n ¢learance itKludiThJ of hedgerows and trees wrth this work being undert*èn undei protected specE5 lieenses as necessary. All necessary vegelalv)n clearance lo enable the project lo proceed is now largely oomplele. As part of this work the nationally scarce galingale and divkled sedge have been Iranskncaled lo new safe sites as well as 4(KJ southern marsh orchKIs Additional work ha5 involved.. the building of the foundations for the new 30m road bridge associated with South Farrn Road". the $l¢xkpiling of material lor the Thew raised Swth Farni Road., the ￿nstrUction ol two new ¢rickel prtches relocated out of the Otter floodplain., restructuring of Pulh8yes Fam including the provision Of a new bore hole, silage clamp and three phase ekctrK6. East Devon Pebblebed Heaths Cons(!rvation Trust Company Limited by Guarantee Trustees Annual Report (Incorporating the Directors, Report for the Purposes of S415 Companies Ac.. 20061 Icontinu8d) Year Ended 31 March 2022 LORP is one of the coa61al climate adaplalDn siles that form the Proinoliro Ad8plalv)n lo Changing Coasts IPACCO) scheme. The other site is situated in the Saane Valley in Nom)ai)dy. The Consewation Tru$l is leading on Ihe socioeconomic evaluation ol the PACCO schemes. environmental monitoring and communic81ion. Work overseen by the Conservalti)n Trust in the reporting period has includÉ.d". ￿rt)0n storage and 5equeslration baseline survey <￿th Manchester University)., baseline fish $uNeys, basi!Iine visitor survey and natural caprtal valuation assessment Iwilh APBMerl. The Conservation Trust has aLso supported and advised the EA on beaver management vthhin the srte. Thts s¢hem• has involved very $vJnrfi¢ant iripul from Con$grvalion Twsl over the lasl year. As part ol PACCO a significant number ol educational activities have been delivered in schools since Feb 2022 and on5rte on the Otter Estuary from March 2022. Over 987 sbjdents Irom 17 schools, colleges and youth groups have engaged with the topi¢ of climate ¢hange and learning about the bÉbnefits lo the environment. wldlife and people that the Lower Otter Reslofalion will bring. A¢knowl•dg•monts We would like lo acknowledge the $uppgrt of Ihe many organisalions and individuals who have helped us during the reporting perK)d. The Conservation Trust works with a bro*J variety o'conseryation partners. These iT￿lUde Natural England, Historic England, the Environment Agency, the RSPB, the Devon Wildlife Trust. South East Devon Habitat ReguLilions Partnership. the East Devon Area of Ouisiarb(ling Nalural Beauty, local s¢hools and ¢crfnmunrty groups, including the Otter Val￿Y A5sn strategy. the implemental￿rt ol the Visitor Managwnenl Plan of ihe East Devon Pebblebed Healhs, and improving the extent and quality of the intertidal habitats and access facilities of Ihe Otter Estuary, including through thè delivery ol thè LvI￿r Otter Restorglion Project The Trustees have considered the appropriat& level ef free financial reserves lo be maintained by the charty to enable il lo meet its charitable obieclives. enhance the underlying heritage assets vthhin rts control and manag8 ¢onservatw)n and education projects as th¢y arise. In this respect, it is the policy ol the Trust lo reach a level of reseNes whth equiv3￿nI lo three lo five years ol oper8tional eMpendi¢ure. In arriving 81 this ￿selVeS policy consideration was gwen to Iiquidty risk and the I￿Vre uncertainty associated wrth govemment support, uncertainty asso¢i8led with the liming ol annual fundin9 payments arwj the levels of prqe¢t funding ￿quired ah&ad ol Speci￿ grant payn￿3. The Trust ￿rrentlY operates ￿th a level of reseNes le$$ than this target based on forecast data for the coming year5. The level ol free finan¢i81 reseNes will be rev￿￿e￿ 8nnu811y by the Tnjslees and the poll¢y updated to reflect any change in the target Sel. nve The invesimenls held by the eharity were acquired in accordance with the powefs granted lo the Trustges in the Settlement Deed and are managed on a discretionary basis by a firm of professional stockbroker5. The performance of inveslmenl$ L% reviewed by the Trustee8 on an annual basis. rinu l Risk rtai The Trustee5 identify and review from lime to lirne the n5ks to whth Ihe Trust is Material￿ exposed and the Oction to be taken to mrtigate thern. Piesenlly, they a￿ seen as. a lack of funds adequate to 8¢JPPDrt the Trust's acltvilies a lack of Publ￿ support lo enable the planned restoration and educalK)n projects to 99 ahead In respect ofthe formèr. Trust￿ raise as much money 8$ they are able and have in place Safeguards lo ensu they do not commié funds In excess of those available. In respect of the latter the Trust opeiates a proaetive policy of publ￿ engagemgnl throu9h its websrte. media and consultation with communty groups when considenng new prqects and ensures that relevant and appropriate surveys and applications for permiSs￿n are received before a project is started One of the greatest challenges the Trust faces is securing income streams post Brèxil wh￿h will require diversfying income streams so there is kss ￿lianCe on agri•environmenl schemes. To address this, the Trust is Wofking on developing a Fund Raising Strale9y. in addrtion lo seeking to secure existing agri-enW￿nMenI $chÈm& opportunities whilst such sources ol income last. Publ￿ supw is being specifically addressed thro¢Jgh constant updatin9 ol the websrte. the ¢￿atION of a Friends of the Commons gr￿p (now wrth 400+ mernbersl 8nd delivering annual edUcat￿n and engagement progralnmes. io East Devon Pebblebed Heaths Conservation Trust Company Limited by Guaraiitee Truslees Annual Report Ilncorporating th,: Directors, Report for the Purposes of S415 Companies Act 20061 {conlinued) Year Ended 31 March 2022 Plans lor Future P•rlod$ The Tru$lees are ¢M)mrtt•d to buildiNJ on the achiovemenls of the year iii I￿Ure periods. Structure. Govemance and Management East Devon Pebblebed Heaths Conservalitsn Trust was incorporated on 5 April 2005. as amended by special resolution on 4 January 2006, as a charitable company Iimrted by guaran'ee. reg151eTed in England and Wales. number 5413877. and go)verned under a Memorandum and Articles ol As4>ociation. It has the registered charity number 1109514. The Trustees confirm that the financial sl3lemenls comply with ¢urri>nl statutory requirements, wrth the requirements ol the ¢hari¢abte ccmpany's govemiTrJ document and the rxomn%ndalM￿s of the Ststemenl ol RecommerKled Pra¢ttt. The principal ￿￿dresS of Ihe chantable company ￿ Rol￿ Estate Office, E.￿t￿ Artrna, East BudleKJh. Budleigh Salterton. Devon, EX9 7BL. Gov¥rnanc¢ The four subscribers lo the Memorandum and Artrles ol AsswAalion wÉ!re the Inrti￿ Members and Tru51ee5 Further Membets are appointed at the diSCret￿n of the Tfustees and furttrer Trustees may be elecied at Annual General Meelings of the Members Further Trustees may also be Go-optE.d by the Trustees at any time. bul ¢o- opted Trustees hold office only until the nexi Annual General Meeting. l. minimum of 3 and a maximum of 10 Trustees a￿ required. A nèwty apwntad Tnjstee will be asked to meet the Conservation Man,'yr and operalional staff of the Land Management Company and employees of Clinton Devon Estates finance and property departments responsible for the Conservation Trusfs admini51ralion. The Trustee will 3150 be gI￿n the lollowing ￿￿UMents. Heaihs Managemgnl Plan, Hearth and Safety Prolctol and latest Annual Repcirt. The Trustee wll also be given a sumnary of the responsibilities att8ched to the position as defined by Th¢: Charf(ies CcffimissKJn and Company Law. The Members and Trustees meet at an Annual Gener￿ Meeting. TW also meet pÈrtsJulty throughout the year as required to receNe and review reP￿ts ¢)n management matters aid financial status. The day lo day cperalh)n of Ihe charitable Company 15 vrHlertaken by oltKets of Clinton Devon Eststes and anagernent Gharge is paid for this. The responsibilities ol the officers include property, financial and general administrative duties for the charitsbl• Company. The management ¢haige lor the year ¢nded 31 March 2022 is dtyclosed in note 15. li East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Trustees Annual Report {Incorporating the Directors. Report for the Purposes of S415 Companies Act 20061 (conlinued) Year Ended 31 March 2022 R•fèrenc• and Admlnlstratlve dètalls R•glstèr•d charlty nam Easl Dgvon P8bbl8W Heaths Consèrvation TNSI Charity number 1109514 Company reglstratlon number 5413877 Registered office Centenary House Peninsuk Pa Rydon Lane Exeter EX2 7XE Trustees The Rt Hon Lord Clinton Mr D J R Robinson Mr J Cvarty OBE TD Mr P J Gotham Mr A C J C¢)oper Mr M Wlliams MBE MrNGHManns Mrs C Walliker Mr P Nixon S8cr•tary Mr D J R Robinson Accountants Franc15 Clark LLP Chartered Accountants Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE Solicitors F￿SterS LLP 31 Hill Street London W1J 5LS 12 East Devon Pebblebed Heaths Consflrvation Trust Company Limited by Guara itee Trustees Annual Report {Incorporating the Directors, Report for the Purposes of S415 Companies Ad 2006) (continued) Year Ended 31 March 2022 R8sponslbilitl•s of the Trustees The Trustees (who are also the directors of East Devon Pebblebed Heathi Conservation Tnjst lof the purposes of company lawl are responsible for P￿ParIng the Twslees Annual Repcrt lin￿rpOratIng thè Directors, Repcrt lor the purposes of s415 Companies Act 20(￿) and the financial statement$ In accordance wf(h applicable law and United Kingdom Accounting Standards (United ￿'ngdOM Generally A.xepled A¢counling PrxlKel. Company law requires Ihe charity Tru$l&es lo prapare financial slalemen"s for eaGh year whch give a true and fair view of the slate ol affairs of the charitab￿ company and of the incoming resources and applicatK•n of resources, including th& intome and expendItu￿, of the charity f¢f th-rt peri(Kl. In preparing the finan¢kil statements, the Trustees are required lo.. select suitable accounting policies and then appty them cons18lentty', cbstrrve the melh¢)ds and principles in Ihe charit￿S SORP.. Make1￿￿gementS and estimates Ihal arg w$onable arnd prudent". Slate whether applicable UK accoLtnling standards have beei followed. 5ubj.ecl to any material departu￿$ dixlosed and expLained in Ihe financial statements,. prepare the financial slalements on Ihtr gtsing ¢oncern basis unlÉ.39 ft is inappropriate to presume that tho charitabk company will continue in business. The Tru51tre$ are responsible lor keeping proper accounting records that disclose wth reasoThab￿ gccuracy at any lime the financial positic￿ ol the charty and lo enable them lo ensurE.. that the financial Statements comp with the Companies Act 2006. Thgy are also responsible for safeguardin J the assels of the charily and hence tskin9 reasonable steps to¥ the pievenlion and deleGts"on of fraud and othfi Wr￿UL7r￿liaS. Small Company Provisions This report has been prepared in ￿tt￿￿an¢e wilh the speo.al provtyb)roJ ts ￿all ¢ompanie¥ und¥r Part 15 of tho Companies Act 2006. Sgned on behaw of Trustees Jcva OBE TO Dale.. 21j612L 13 East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Independent Examiners Report to the Members Year Ended 31 March 2022 I report lo the ¢h¥nty Tru$tee8 on my examinat￿) oflhe accwnls oflhe Cc¥npany for year ended 31 March 2022. Responsibilit5•5 and basis of report As the ch8rty's Trustees of the Company land also ils directors for the purposes of company lawl you ar? responsible lor the preparation ol the accounts in accordance with the requirement$ of the C(xnpanie5 Act 2006 I'the 2006 Act.). Having satisfied myself that the accounts ol the Company are not required lo be atwJrtei1 under Part 16 of the 2006 Act and are elVJlb￿ for independent exarninalpJn, I report in respect ol my examination of your chartys accounts as carried out under se¢tion 145 of the Charities Act 2011 I'lhe 2011 A¢t'l. In carrying out my ex¥minatlon I have folkxe(I Ihe Di￿¢t￿n$ yiven by the Chanty cornmts5￿ undor sedNJn 145151 Ib) oflh8 2011 Independent examinerfs statement I have completed my examination Srnce the Company's gross in¢om& ex¢eedèd £250,000 your examiner musl be a member ol a body listed in 5.145 01 the 2006 Act. I confirm Ihal l am qualified to undertake the examination because l am a rrEmber of The Instilute of Chartered A￿OuntantS in ETrJland and Wales, which 1$ one of the listed bc¥Jies. I confim th81 no matters have Come to my attention in ¢onne¢tion with the examination giving me cause lo believe.. accounti￿ re¢ords were not kept in re$poci ol the Ctsrnpany 8$ required by Sect￿)n 386 01 the 2006 Act". 2. the 8¢counls do n¢1 a¢eord with those records., or 3. the arLount$ do r￿t compty swlh the accounting requirements ol section 396 01 the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considèred as p•rt of an indep¢ndenl examinaton, or 4. the accounts have not been prepared in accordance with the methods and principles of the Ststernent ol Recommended Pradu ftsr accounting and ￿portIng by Char￿e$ applicable to charities preparing their accounts in 8CCOTdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no cOn￿M$ and have come across no other matters in connection with Ihg examination towhth attenlKin should be drawn in this report in orderto enable a proper understanding of the accounts to be ￿aChed. Stephanie Hen$haw FCA Francis Clark LLP Centenary House Peninsula Park Ryden Lane Exeter, EX2 7XE Date.. 1317/2L 14 East Devon Pebblebed Heaths Cons(!rvation Trust Company Limited by Guarantee Statement of Financial Activities (incorporating the income and expenditure account) Year Ended 31 March 2022 R¥$tri¢l•d Unrestri¢t9d Total Funds Total Funds Funds Funds 2022 2021 Not• Income: Donations and Leg￿leS Income from Charitable Activrties Income from Investments Other Income 99,750 491,371 22'.>,279 '.1,732 4t),862 21 325.029 495,103 46.862 21 212,004 130,544 46,352 Totil In¢ome 591,121 27'.>.894 867.01 S 388,900 Expondiiur•'. Charitable Activities fj56,8 17..! 021 828,917 382,187 Total Expenditurè 656.896 17..> 021 828,917 382,187 Nel GainsllLos5esl on Investments 29.887 316,207 Net IncomellExpenditurel and Net Movement In Funds 165,7751 111.760 67.985 322.920 R¥¢oncillallon of Funds: Totsl Funds Brought Forward 13 74.006 1.811).312 1.884.317 1.561,397 Totsl Funds Carrl•d Forward 13 8,230 1,94.1,072 1,952.302 1,W.317 Th• not•$ on pages 17- 26 fomi of thts• finaiiclal statements 15 East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Balance Sheet Company Registration Number.. 5413877 Year Ended 31 March 2022 2022 2021 Not• Fixod Ass•ts Tangible assets Inve5trnents 2,934 1,872,781 13.279 1,793.983 1.875,715 1.807.262 Current Assets st￿ks Debtors Cash at bank 10 11 514,522 69,B62 130.687 105,577 236.264 Llabllities Creditors.. Amwnls falling due within one year 12 {607.7971 {159,209) Net Current Assets 76,S87 77,055 Nel Assets 1.952,302 1.884,317 The Funds of the Charfty.. unl￿1r1¢t8d Funds 13 1.944,072 1.810,312 Restrlcted Funds 13 8,230 74,005 Total Funds 1.952,302 1,884,317 For the financial year ending 31 Plarch 2022 the company was enlitkd lo exemption from 8udit under Sect￿)n 477 of Ihg Companies Act 2006 relating lo small ¢ompanies. The members have not required the company lo cA)tsin an audrt in 7Lcordance with Sect*Jn 478 of the Compan￿5 Act 2006. The directors aCknO￿ledge th￿r responsikn.lty lor ccynptying with the requirements ol the Act with fesr*ct to counting records and for the preparation of accounls These accounts have been prepared in ￿dar￿e wrth the provigiorts appI￿able lo C£mpan￿3 Subl￿t to the Small ¢¢mpany's fegime. The financial statements on pages 15 to 26 were 8PPToved by the Trustees on Iq . their behalf by'.- 2022 and $pJned on D J R Robinson Jcva YOBETD The not6s on pag•8 17- 26 fomi part of th•se financlol $tatements 16 East Devon Pebblebed Heaths Conll?ervation Trust Company Limited by Guarantee Notes to the Financial Staterr¥Jnls Year Ended 31 March 202;! 1} Gentral infomwtion East Devon Pebblebed Heaths Conservation Trust is a company limiled by guarantee and therefore has no share capital. Under the Memorandum ol Association. each member ￿ required. in the event ol a d¢ssolutK)n of the company while they are a member or wrthin 12 nionlhs afterwards. to contribute up lo £1 toward the companys liabilities and dissolution ¢08t5. The chaity wa5 inctyporated in EngLand and Wales and details of Ihe Wiste￿ office Can be found in the reference and administrative sectlon of the Trustee5 report. The Chanty rreels the definit￿ of a public benefil entity under FRS 102. The functional currency of E851 Devon Pebblebed Heaths conser￿allon Twsi is ￿nS￿le[ed lo be pounds sterfing because it ts the currency of the primary economic environment in whlch the ¢hari18ble eompany operates. 21 Accounting pollcl•¥ la) Basls of a¢¢out)tlng The financial st8tements have been prepared in accordance with Accounting and Reporting by Chorrties.. Statement of Recommended Praeti¢e' applicable to thafities ￿Faring their accounts in a¢¢ordance with the Charities SORP IFRS 1021 (effective 1 January 20191, the Fir.ancial Reporting Standard applrable in the UK and Republic ol Ire18nd IFRS 1021 IMar¢h 20181 and th* ('.c#npanies A¢1 2006. A55elS and Itabilrties are inrtialty re¢ognised at hvJtorical cost or triirsa¢lion value unless othemse slated in th& r¢lev8nl a¢¢ounting policy nolelsl Ibl Golng coneern The financial stalemenly have been prepared on a going ￿CeM )asis and the Tiustees are not ol any material ￿￿ertaInl￿S ihal would cast doubl on the charTty's atility lo eontinue as a gtsng concern. The trustees have considered the impact of the current un¢grtain econ)mic environment and are satisfied that the ¢harily has SLfficienl unrestricted reserve8 to meet the charity.:.. obligation6 for the next 12 morths and therefore con5NJer that the going ￿ncern assumption remains apiiropriale. Icl Consolidation In the opinion of the member5 of the commthe, the charity ar￿ rt5 sub5Kliary undertakings comprise a small group. The charity is not requir￿ to prgpartr group account$ under the SORP and has ¢hr)sen not to lake up the option under Sed￿n 398 of the Companw Act 20C6 to prepa￿ 9roup a¢¢fxtnts The accounts present information about the charrtable company as an indNidual undertakirrfJ and rhjt about its group. Nolfj 9 provides adequate detsils relating lo the nalufe cf the trading subsidiary. Idl Ca$h flow statsm•nt The Trustees have taken advantage ol the eXeMpt￿n in FRS 102 from including a cash flow statement in the financial slalemenls on the grounds Ihat the charrty is small. lel In¢omlng resour¢es All incoming resources are included in the Slalemenl of Financi81 A¢tNilKs when the charitsble C(￿npanY is enlitbd lo the Income and the anYJunt can be quantffied with re*•nab￿ 8ccJJrw. The follcrmng specrf polic*s a￿ applied to particular categorie5 01 incorne". Grant income is recognised In the accounts when the quali¥in9 conditions the grant hove been satisfied and there is reasonable certainty that the fvnding will be ie¢eNed. Income from donations 15 ree¢gnised on receipt. Donations received for spe¢rfic purposes are identif*d aq Testrthd fvnds inc(Mne. Olher gianls and donations gfe ￿enIffied as Unlestr￿ed funds. 17 East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Notes to the Financial StateffEnts (conlinuedl Year Ended 31 March 2022 21 Accountlng pollcles {contlnuedl In Resources expended Expènditure Is reccgnised on an accrnals basis as a Ikabilty is incurred. Expendrture includes any VAT whth cannoi be ful￿ recovered, and is reported as part of the expendrture lo which rt relates.. Charitable expenditure comprises those costs incuired by the Charitab￿ company in the delivery ol ils activities and services for ils benefLiaries. Governar￿e c051s include those costs 8ssocialed with meetin9 the con51ilulional and 51alulory requirements ol the charitable company, including costs linked lo strategic management. Igl Investment Investments include the inveslmenl in the wholty owned subsbjiary eompany, East Devon Heaths Land Management Company Limrted, which 1$ slal8d al cost. Inv¢slm•nls also include stock market investments, wh￿h are carried al fair value. Gains or Stssses on disp0581s and thanges in fair value are credrted or ¢harged in the Statement ol Financial Aciiwlies. DNwJends and interest ￿Ceiv¥bIe are shown in the Statement of Financial Activities. All fixed assets are inrtolly ￿Orded 81 C￿1. {hl Depr¢¢laiion Depreciabon LS calculated so as to write off the cost ol a fixed asset, less its estirnaled residual value, on a slraighl line basis over Iho estimatèd usgful 8¢onomi¢ lrfe ol that assel. al the lollowing rates. 8uildings Equipment 10.10 and 20Vo 200h to 500 {il Sto¢k$ Sk¢ks are valued 81 the lrywer of cost and net reali$3bbe value. after making due Jlowance for obsolete and slow moving items. IJ) Funds Unrestri(aed fvnds are available for Ltse at the discretion of the Trustfjgs in furtherance of the goneral objective5 of the charitable ¢>)mpany. ReStr￿ted funds are sU￿"eCt lo reStr￿tionS en their expendf(ure imposed by the donor or through the lerms of an appe81. Ikl Flnanclal Ingtruments Financial assets and 1￿￿111t1eS are wni5edllderecognisedl when the chanty bec(￿(cease8 to become) party lo the contfactual prowsions of th• rnslrumenL The charity hold$ the foltowing financial ossets and liabililies.. Equrty inveslmanls ar¢ measured at fair value with movements being recognised in incomg and expenditure. Short term debtors and creditor5 with no 51aled in18￿st rale and receivable or p8yablè wlhin one year are recorded at Iransactw)n price and carl￿￿ thereafter at arThNtised cosl 18 East Devon Pebblebed Heaths Conservation Trust Company Limiled by Guarcintee Notes to the Financial Statements Ici)nlinued} Year Ended 31 March 2022 3) Donations and Legacies 2022 2021 Donations Gift aid receipts from subskliary 102,215 154.070 222.814 57.934 325.029 212,004 The income donatithis and *acies was £325.029 1202.1: £212,004) of whth £225,279 was unreslricled12021.. £60, 1291 and £99.750 re51ricled12021.. £151.8751. 41 Incorne from Charttable ActlvStles 2022 2021 Grants and ¢ontr3cis Pro$peclu5 book and le8flel 8al8s 495.103 130,544 495,103 130,544 Tho from charitab￿ activrties was £495.103 {2021." £130.5441 of wh￿h £3,732 was unre51ricted (2021 £nill antj £491.371 restricted {2021- £130,544) 51 Investment Income 2022 2021 UK Investments listed on a Tecognisèd Stock Ex¢hange C8$h hekl as part of the investment portfolio 46,862 46,352 46,862 46,352 All Investh)enl in¢om& receNed in 2022 and 2021 repfesents unrEislricted funds. 19 East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee Notes lo Ihe Financial Statements (continued) Year Ended 31 March 2022 61 R•sour¢os Exp8nd•d.' Charltsble Actlvltl•s RoStrl¢ted Unrestricted Total Funds Total Funds Funds Funrjs 2022 2021 Repairs and mainlenarK DepreGialion ol equipment publ￿ inlerprelalion Lmlng Outgoing At 31 Mar 2021 Restricted Income Funds: Habilal Mitigation Grant wr￿db￿ry Ca5tk Steps Grant Countryside Learning Lower Otter Resloralion Project Nalk)nal Nature Reserve 9,331 15.1S4 3.744 13.744) 17.323) 12,000 112,0001 246.800 1222,1491 19.875 13,304) 9,331 7,831 24.651 32.192 15,621 40,106 282,419 1248,5201 74.005 Unrestricted Incomg Funds,. General Funds 1.521,291 1C6,481 1133.6871 316,207 1,810,312 1.521.291 1C6.481 1133.6671 316.207 1,810,312 Total Funds 1,561,397 386,900 1382,1871 316,207 1,884.317 24 East Devon Pebblebed Heaths Conservation Trust Company Limited by Guart ntee Notes lo the Financial Ststements Ici)ntinuedl Year Ended 31 March 2022 FRS 102 require5 unrealised gains and losses lo be included in Nel Inc)mellExpenditurg} in thg Siaiemenl of Fin8na81 Activrties. This * induded wthin general funds and not in a seF.ar*e ￿valUation reseTVe. The Habrtat Mrtigation Grant fund has arisen from the requirements lor developers to milyate the impact of a development lo the environment. under s1C6 of the Town and Country Pi4nning kl 1990. This fund wll be utilised lo pn)VKle laulities lo dispose of dog waste in the Ictal area and walk leafiets. The w￿￿b￿ry Ca$lle Steps Grant fund h88 arisgn due lo Historic Eng and offering lo finance $peerf￿ caprtal pmvements lo the Scheduled Monument. CounlrysKle Learning fund has arlsen due lo The Emesl C¢oke Trust giving a £I0.000 grant specifully to contribute toward$ the salary of an Education off￿r. and other donati¢yiS. The dcThth)ro were I￿ty gwen by donor$ for thè Pufwses ol edu(31ion. The Lower River Ottèr restoration projeLt fund has arisen as donatDii$ have beeft reuived to finance the develop¥nenl of Lower Otter Estuary lo expk¢re h(M we ¢an prtrserve arid Ynprove the downstream part of the River Otter. r(s estuary. and rts immediate surroundings for future gener,Ilions in the face of a rapidly changing climate, The donations were treely given by donors for the purpos¢s ol sJslainably improwng the landscape. The National Nature Reserve fijnd has arisen a5 donation5 have been received lo finance the launch of the Nation81 Nature Reserve $18lus and promotion of its values. The donali()ns were freely given by donors for the rposes of promoting the conservat￿N ststus ofthe sit•. suffic￿nI liquid règources are held by Ihe ¢haritablè company lo all(M ,)a¢h fund lo b• ¥ppl*d in accordance with the conditions set by the donor. 25 ## **East Devon Pebblebed Heaths Conservation Trust Company Limited by Guarantee** Notes to the Financial Statements (continued) Year Ended 31 March 2022 ## **14) Analysis of Net Assets Between Funds** ## **2022** |**Tangible**
**Investments**
**fixed assets**
**£**
**£**
Restricted Income Funds
**2,934**
Unrestricted Income Funds
**1,872,781**
**Total Funds**
**2,934**
**1,872,781**
**2021**
**Tangible**
**Investments**
**fixed assets**
**£**
**£**
Restricted Income Funds
13,279
Unrestricted Income Funds
1,793,983
**Total Funds**
13,279
1,793,983|**Current**
**Liabilities**
**assets**
**£**
**£**
**491,375**
**(486,079)**
**93,009**
**(21,718)**
**584,384**
**(507,797)**
**Current**
**Liabilities**
**assets**
**£**
**£**
60,726
175,538
(159,209)
236,264
(159,209)|**Total**
**£**
**8,230**
**1,944,072**
**1,952,302**
**Total**
**£**
74,005
1,810,312
1,884,317| |---|---|---| ## **15) Related Party Transactions** Four of the Trustees of the charitable company are members, Trustees or employees of Clinton Devon Estates. During the year, the charitable company was charged £39,685 (2021: £33,821) by Clinton Devon Estates for management services. At 31 March 2022, £nil (2021: £nil) was due to the charitable company from Clinton Devon Estates. The charitable company has a wholly owned trading subsidiary, East Devon Heaths Land Management Company Limited. During the year, the charitable company was charged £84,000 (2021: £73,000) by East Devon Heaths Land Management Company Limited for land management services. The charitable company also received a loan from East Devon Heaths Land Management Company Limited of £350,000 during the year. There is no interest payable on the loan, and it is repayable on demand. At 31 March 2022, £500,000 (2021: £150,000) was due from the charitable company to East Devon Heaths Land Management Company Limited. 26