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2022-12-31-accounts

ab)a 4:Auchnarran
natural
c		 ab)a 4:Auchnarran
natural
c		 apital balance shoat (Present Va l ue, 6 ooos)
summary
ofasset values
(Press nt value over 60years) '		 Private Wider sodotyi Total
At: 31Pacamb»r 2020
Aasa)s'
"-,
«Food production
(livesiocl )1
«Agrl environrnen\
income '		 5,702
Cerbon sequestration " 6,258 6,258
operational
omissions'"		 (6,333) (6,333)
«Air quality regulation 51 51
«necreat)on
s		 109 172 280
«Education 8 consulting ' 166
Total gross assot value 6.871 240 7,110
llah)t)tlas":--
Natural
capital maintenance		 costs i
Legal obligations'" (888) I i888)
Other maintenance"
s		 (918)
Production costs '1
FOOd PraduCtian
ua		 (4,122) (4.122)
shooting expenses (46) (46)
Toto) llabnitlas (5,974) (5,974)
total nat asset value
(monatlsad)		 897 240 1,137

General Restricted Endowed Total Total
Note Fund Funds Funds 2022 2021
Income and endownients from:
Donations
and		 legacies
Members subscriptions 1,359,424 1,359,424 1,339,656
Donations and legacies 1,950,984 2,322,590 4,273,574 3,489,775
3,310,408 2,322,590 5,632,998 4,829,431
Charitable
activities		 2,211,743 2,211,743 2,152,610
Other trading activities
Fundraising
events		 4a 2,417,225 2,417,225 1,671,508
Advisoiy setvices 394,783 394,783 244,700
Trading
income		 166,162 166,162 190,223
Investment
income		 32,562 88,867 121,429 67,614
Other 116,758 67,740 184,498 188,742
Total 6,437,898 4,690,940 11,128,838 9,344,828
Expenditure
on:
Raising funds
Fundraising
events		 4a 827,478 827,478 456,677
Membership
and		 marketing 590,460 590,460 714,326
Other fundraising costs 6 1,562,838 10,501 1,573,339 1,242,089
2,980,776 10,501 2,991,277 2,413,092
Charitable
activities
Research and conservation
Lowlands 7 1,027,868 1,241,078 2,268,946 1,888,325
Uplands 7 96,512 575,493 672,005 500,384
Demonstration 7 305,482 1,438,967 4,150 1,748,599 1,396,895
Fisheries 7 89,054 577,092 666,146 653,530
1,518,916 3,832,630 4,150 5,355,696 4,439, 134
Public education 7 1,085,767 196,910 1,282,677 1,049,990
2,604,683 4,029,540 4,150 6,638,373 5,489, 124
Total 5,585,459 4,029,540 14,651 9,629,650 7,902,216
income/(expenditure)
before investment
gains		 852,439 661,400 (14,651) 1,499,188 1,442,612
Net gains /(losses) on investments:
Realised (6,254) (22,912) (29,166) 105,463
Unrealised 12 (139,629) (216,403) (356,032) 344,936
Net income /(expenditure) 706,556 661,400 (253,966) 1,113,990 1,893,011
Transfers
between		 funds 7,500 (7,500)
Net movement
in		 funds 714,056 653,900 (253,966) 1,113,990 1,893,011
Reconciliation
of		 funds:
Total funds brought forward 4,194,186 2,149,072 5,115,812 11,459,070 9,566,059
Total funds carried fomvard f4,908,242 X2,802,972 f4,861,846 f12,573,060 f11,459,070
THE GAME AND WILDLIFE CONSERVATION
TRUST		 GAME AND WILDLIFE CONSERVATION
TRUST		 GAME AND WILDLIFE CONSERVATION
TRUST
CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31DECEMBER 2022
Note 2022 2021
TURNOVER 2,211,743 2,152,610
OTHER OPERATING INCOME 8,795,666 7,124,604
11,007,409 9,277,214
EXPENDITURE
Operating
charges		 9,329,166 7,658,448
Depreciation oftangible fixed assets 277,452 204,783
9,606,618 7,863,231
OPERATING PROFIT 1,400,791 1,413,983
OTHER INCOME
Interest receivable
and		 similar income 5 121,429 67,614
Interest payable
and similar charges		 (8,110) (9,284)
Profit/(loss)
on disposal		 offixed assets (14,922) (29,701)
Realised gains/(losses) on investments (29,166) 105,463
69,231 134,092
SURPLUS FOR THK YEAR ON ORDINARY ACTIVITIES 1,470,022 1,548,075
BORNE FROM/(RETAINED
IN)
RESTRICTED AND ENDOWMENT FUNDS (623,837) (814,144)
GENERAL FUND RETAINED SURPLUS/(DEFICIT) FOR THK YEAR f,846,185 f733,931
CONTINUING
OPERATIONS
THK THK GA LDLI LDLI TRUST
CONSOLI D AN K SHK
IrOR T R NDKD 31DKCE B 2022
oto 2022 2021
Fixed Assets:
Tangible
assets		 12a 3,604,872 3,622,618
investments 13 5,014,580 5,427,761
8,619,452 9,050,379
Current
assets:
Stock 14 49G,279 426854
Debtors 15 2,136,478 1,684,020
Cash at bank and in band 3,069,675 1,659,815
5,702,432 3,770,789
Liabilities:
Creditors;
Amounts		 falling
due within one year 16 1,469,955 1,044,G61
Net current assets 4,232,477 2,726,128
Total assets less current. Iinbilitles 12,851,929 11,776,507
Creditors:
Anrounts		 falling
duo after more than one year 17 278,869 317&437
Total nct nssets f.12,573,060 f.11,459,070
The funds ofthe charity:
Endowment Funds 18 4,861,846 5,115,812
Restricted income lbnds 19 2,802,972' 2,149,072
Unrestricted Funds:
Designated
flmds		 20
Fair vahm roserve 21 193,847 327,222
General fund 4,G83,558 3,832,585
Non-charitable trading fund 4 30,837 34,379
4,908,242 4,194,186
812,573,060 f11,459,070
Signed on behalf ofthe Trustees
Rt Hon Sir Jantes Paice, DL - Chainuan

2022 2021
Fixed Assets:
Tangible assets
Inveslnrents		 12b
13		 927,769
2,226,726		 927,718
2,394,686
3,154,495 3,322,404
Cnrrent
asselst
Debtors 15 2,G75,568 1,895,020
Cash at bank and in hand 2,160,997 1&266,884
4,836,565 3,161,904
LtabtUNes:
Creditors: Amounts
due within
one year		 falling 16 1,165,779 859,521
Net current assets 3,670,786 2,302,383
Total assets less current liabilities G,825;281 5,624,787
Creditors: Anrounts
duc ader more (han		 falling
one year		 17 81,702 101,189
Total net assots f6,743,579 65,523&598
The 1'unde of lhe Hrarlty:
Restricted
income funds		 19 1,866, 174 1,363,791
Unrestricted
Funds.
Designated
iimds		 20
Fair value reserve 21 193,847 327,222
General
timd		 4,683,558 3,832,585
4,877,405 4,159,807
Total charity fun
s		 86,743,579 65,523,598
Signed on behalf ofthe Trustees
Rt Hon Sir James Paicc, DL-Chairman

Note 2022 2021
Cash flows from operating
activities:
Net cash provided
by (used in)
operating
activities		 23a 1,542,340 1,173,898
Cash flows from investing
activities:
Dividends,
interest and rents from investments		 121,429 67,614
Proceeds fiom sale ofpropeity,
plant and		 equipment 48,280 43,814
Purchase ofpropeity,
plant and equipment		 (293,063) (225,703)
Proceeds fiom sale ofinvestments 986,183 1,974,341
Purchase of investments (903,266) (4,015,271)
Net cash provided
by (used in) investing		 activities (40,437) (2,155,205)
Cash flows from financing
activities:
Interest paid (8, 1 10) (9,284)
Repayments
ofborrowing		 (41,493) (251,535)
Life membership
subscriptions
received		 12,495 11,550
Net cash provided
by (used in) flnancing		 activities (37,108) (249,269)
Change
in cash and cash equivalents
in the reporting
period		 1,464,795 (1,230,576)
Cash and cash equivalents
at the beginning
ofthe reporting
period		 1,729,864 2,960,440
Cash and cash equivalents
at the end
ofthe reporting
period		 23b f3,194,659 K1,729,864

Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2022 2021
Members' subscriptions 1,359,424 1,359,424 1,339,656
Donations 694,034 464,801 1,158,835 1,414,554
Grants froin other charities 859,948 1,857,789 2,717,737 1,635,438
Sponsorship 20,800 20,800 25,177
Legacies 376,202 376,202 414,606
1,950,984 2,322,590 4,273,574 3,489,775
f3,310,408 L2,322,590 f5,632,998 f4,829,431
PREV/OUS PREV/OUS YEAR ANALYSIS
beer(pt(ons Unres(ric(ed Res(ric(ed Endowment Toto/
Fnnds Funds Funds 2021
Me tubers 'su /,339,656 /,339,656
//ona(tons 696,245 718,309 /,414,554
Grants from o(her charities 544',485 /,090,953 /, 635,438
Sponsorshi p 25,/77 25,/77
Legac(es 4(4,606 414,606
/, 680,5/3 /,809,262 3,489,775
63,020,/69 6/,809,262 L- L4,829,431

CHARITABLE ACTIVITIES
Unrestricted Restricted Total Total
Funds Funds 2022 2021
Research contracts 241,924 241,924 188,853
Research grants from UK Government and EU 785,952 785,952 1,054,251
Research grants &om other bodies 414,644 414,644 337,436
Farm income 645,107 645,107 557,583
Courses, lectures and tours 124,116 124,116 14,487
62,211,743 82,211,743 82,152,610

PREVIOUS YEAR ANA LY SJS
Utrres(ricted Restricted Total
Fr(nds Frmds 202/
Researclr contrac(s J88,853 /88,853
Research grants fi'om UK Government and EU /,054,25/ I,054,25/
Research grants jiam otirer bodies 337,436 337,436'
Farm income 557,583 557,583
Lec(ares and (om's /4,487 /4, 487
f2,/52, 6/0 f2,/52, 6/0
FUNDRAISING EVENTS Net Net
Gross Direct Contribution Contribution
Income ~E* ii 2022 2021
Carried out by subsidiary companies 168,650 34,459 134,191 25,519
Camied out by The Game and Wildlife Conservation Tmst:
HQ events 53,700 10,328 43,372 7,117
London events 389,061 341,061 48,000 49,146
Scottish events (excluding Game Fair) 386,531 68,918 317,613 150,882
GCUSA 323,792 972 322,820 235,665
County Group events 1,095,491 371,740 723,751 746,502
f2,417,225 f827,478 f1,589,747 81,214,831
PREVIOUS YEARANALYSIS Net
Gross Direct Conlri bntlon
Income ~ado u
202/
Carr'ied ou( by sribsidiary
companies		 98,950 73,431 25,5/9
Carried oal by Tire Game and Wildlife Conservation Trust(
Hf/ events /9,600 /2, 483 7,//7
London events 22/, 828 /72, 682 49,I46
Scottish even(s I8I,934 3/,052 /50,882
GCUSA 259,000 23,335 235,665
County Gronp events 890,/96 /43,694 746,502
f/, 67/, 508 f456,677 f/, 2/4,83i

A sununaiy oft he comp anies '
resu		 lts
is		 as f ollows:
Game and Wildlife GWCT Natural
Conservation Capital Advisory GWCT Total Total
~Td' i.
'
tt d		 Limited Events Ltd 2022 2021
Turnover 757,589 185,564 943,153 679,768
Cost ofsales (276,830) (161,345) (438,175) (276,239)
Gross profit 480,759 24,2]9 504,978 403,529
Administrative expenses (270,581) (20,674) (291,255) (270,211)
Other operating income 33,856 33,856 38,494
Operating
profit		 / (loss) 244,034 3,545 247,579 171,812
Interest payable to The Game and Wildlife
Conseivation
Trust		 (9,000) (9,000) (9,000)
Profit on ordinaiy
activities		 before taxa 235,034 3 545 238,579 162,812
Paytnent
under		 gilt aid to The Game and
Wildlife Conservation Trust (242,121) (242,121) (160,752)
Corpration
tax		 (4)
Retained profit / (loss) for the year (7,087) 3,541 (3,542) 2,060
Retained profit brought forward 36,464 (2,085) 34,379 32,319
Retained profit carried foiward 29,377 f. 3,541 f (2,085) f. 30,837 f, 34,379

A summary
ofthe financial		 activities activities undetxaken undetxaken by the Game and Wildlife Conservation Trust, the Game
Consei vancy Trust and the Allerton Research and Educational Trust are set out below:
Total Total
2022 2021
Cross income 10,024,776 8,392,289
Total expenditure 8,477,571 7,221,446
NKT INCOME
/ (EXPENDITURE)		 1,547,205 1,170,843
Realised gains/(losses)
on		 investments (29,166) 105,463
Unrealised
gains /(losses)		 on investments (356,032) 344,936
NET MOVEMKNT IN FUNDS 1,162,007 1,621,242
Total funds brought
forward		 11,096,446 9,475,204
BALANCES AT 31DECEMBER 2022 f12,258,453 811,096,446
Represented
by:
The Game and Wildlife Conservation Trust
Restricted income funds 1,866,174 1,363,791
Unrestricted
income		 funds 4,877,405 4,159,807
6,743,579 5,523,598
The Game Conservancy Trust
Endowtnent
Funds
Allerton Research and Educational Trust
Endowment
Funds		 4,861,846 5,115,812
Restricted income funds 653,028 457,036
5,514,874 5,572,848
TOTAL FUNDS f12,258,453 f11,096,446
5. INVESTMENT INCOME
2022 2021
Dividends
fioni listed investments		 and managed funds 32,562 11,791
Dividends
from charitable		 common investment funds 50,607 32,503
Estate income 38,260 23,320
f,121,429 f67,614

OTHER FUNDRAISING
C		 OSTS
Dh ect Suppoit Governance Tot aI
Costs Costs Costs 2022 2021
Fundraising
depatsment		 195,659 38,085 3,452 237,196 285,428
Regional fundraising
and initiatives		 562,664 109,522 9,927 682,113 482,254
Advisory Service and Natural Capital 404,502 51,893 4,704 461,099 289,392
Shop purchases
and expenses		 160,818 19,816 1,796 182,430 176,275
f1,323,643 f219,316 f19,879 fL562,838 81,233,349
CO/tfPARA TIV E Y EARANAL YSIS
Direct Snpport Governance Total
Costs Costs Costs 202J
Fnndratstng
department		 239,776 42,037 3,6I5 285,428
Regional fimdratsing and initiatives 405,J2I 7/, 025 6,/08 482,254
Advisory Setvice costs 243,/06 42,62/ 3,665 289,392
Shop pnrchases and expenses I48,08/ 25,96/ 2,233 /76,275
f/, 036084 f/8/, 644 f/5, 62/ f/, 233,349

Costs ofCharit abl e
Activities
Direct Support Governance Total Total
Costs Costs Costs 2022 2021
Research:
Lowlands 1,871,616 364,310 33,020 2,268,946 1,888,325
Uplands 554,326 107,899 9,780 672,005 500,384
Demonstration Farms 1,443,117 280,095 25,387 1,748,599 1,396,895
Fisheries 549,493 106,959 9,694 666,146 653,530
4,418,552 859,263 77,881 5,355,696 4,439,134
Public education 1,058,059 205,951 18,667 1,282,677 1,049,990
f5,476,611 81,065,214 f96,548 f6,638,373 j5,489,124
PREVIOUS YEAR ANAL YSIS Dh ect Snpport Governance Tote/
Costs Costs Costs 202I
Research:
Lowlands J,586,300 278,/08 23,9/7 /,888,325
Uplands 420,35/ 73,695 6,338 500,384
Demonstrati on Farms I,/74, /34 205,/20 /7,64J /,396,895
Fisheries 549,002 96,250 8,278 653,530
3,729,787 653,/73 56;l74 4,439,I34
Pnblic edncati on 888,605 /48, 605 /2, 780 J,049,990
f4,6J8,392 f80/, 778 f68,954 f5,489,/24

2022 2021
Management 526,125 375,291
Finance 276,153 249,325
Information technology 359,838 311,640
Human resources 180,597 175,065
Cennal office expenses 161,649 70,931
81,504,362 f,l,182,252
These costs have been allocated to the Trust's charitable activities, fundraising and governance
on
the basis ofthe usage ofthese resources by the various activities, as follows;
Charitable activities (Note 7) 1,065,214 801,778
Fundtaising 366,551 323,178
Governance (Note 8) 72,597 57,296
f.1,504,362 f1,182,252

8. GOVERNANCE COSTS
2022 2021
Staff and office costs 72,597 57,296
Audit fees 24,750 21,450
Accountancy 11,940 11,300
Trustees' expenses 5,430 744
Professional
fees		 10,304 2,832
$125,021 f93,622
STAFF COSTS
2022 2021
Wages and salaries 4,237,014 3,762,400
Social security costs 431,577 372,021
Pension costs 343,419 324,403
Less Coronaviius Job Retention Scheme grant (52,856)
f5,012,010 f4,405,968
2022 2021
The number ofemployees was:
Research and conservation 63 57
Education 17 16
Faun 4 3
Membership and records 6 6
Regional activities and fundraising 17 16
Administration and suppott 18 17
125 115
The following
numbers ofemployees
had emoluments		 following
numbers ofemployees
had emoluments		 ofover 860,000:
Emoluments in the range 8130,000 - f140,000
Emoluments in the range 8120,000 - f.130,000
Emoluments in the range 890,000 - 8100,000
Emoluments in the range 880,000 - f90,000
Emoluments in the range f70,000 - f80,000
Emoluments in the range 860,000 - f70,000

This is stated atter charging: This is stated atter charging:
2022 2021
Depreciation 8277,452 g204,783
Auditor's
remuneration
Audit fees f24,000 824,000
Accountancy
and other advice		 812,246 f,12,246
Interest payable 89,284 g9,284
12a.TANGIBLE FIXEDASSETS
GROUP Equipment
Freehold Fixtures
Land and and Motor
~Buildin
s		 ~Fittin
s		 Vehicles Totals
COST OR VALUATION
At
1 ianuaty 2022		 3,817,782 2,178,472 469,351 6,465,605
Additions 5,795 169,735 117,533 293,063
Disposals (603,451) (72,533) (675,984)
At 31December 2022 3,823,577 1,744,756 514,351 6,082,684
DEPRECIATION
At I January 2022 745,740 1,728,297 368,950 2,842,987
Charge for the year 46,476 168,343 62,633 277,452
Disposals (582,268) (60,359) (642,627)
At 31 December 2022 792,216 1,314,372 371,224 2,477,812
NET BOOK VALUE
At 31 December 2022 g3,031,361 g430,384 ZI43,127 f3,604,872
At 31December 2021 f3,072,042 f450,175 8100,401 f3,622,618
The cost or valuation offreehold land and buildings
is made up		 as follows:
2022 2021
ARET land and buildings as valued at acquisition
in 1992		 1,849,152 1,849,152
Fordingbridge
land and buildings		 as revalued in 1994 400,000 400,000
Subsequent
additions,		 at cost 1,574,425 1,568,630
f3,823,577 f3,817,782

COMPANY Equipment
Freehold Fixtures
Land and and Motor
~Buildin
s		 ~Fittin
s		 Vehicles Totals
COST OR VALUATION
At I January 2022 819,225 1,397,304 378,448 2,594,977
Additions 130,781 57,174 187,955
Disposals (584,771) (58,033) (642,804)
At 31 December 2022 819,225 943,314 377,589 2,140,128
DEPRECIATION
At I January 2022 162,600 1,193,612 311,047 1,667,259
Charge for the year 8,201 112,903 41,564 162,668
Disposals (571,709) (45,859) (617,568)
At 31 December 2022 170,801 734,806 306,752 1,212,359
NET BOOK VALUE
At 31 December 2022 f648,424 8208,508 870,837 8927,769
At 31 December 2021 f656,625 Z203,692 f67,401 f927,718
The cost or valuation offreehold land and buildings is made up as follows:
2022 2021
Fordingbridge
land and buildings		 as revalued in 1994 400,000 400,000
Subsequent
additions,		 at cost or valuation 419,225 419,225
f819,225 8819,225

INVESTME NTS The Grou
The Com an
Unrestricted Spendable
Unrestricted &. Restricted Endowtnent
Funds Fund Funds Total
Market value:
At I January 2022 1,820,119 574,567 3,033,075 5,427,761
Additions 55,215 134,732 713,319 903,266
Disposals (73,902) (148,925) (792,522) (1,015,349)
Revaluation (99,667) (39,962) (216,403) (356,032)
(Decrease) /increase
in cash		 759 3,790 50,385 54,934
At 31 December 2022 f1,702,524 f524,202 X2,787,854 f5,014,580
Cost at 31 December 2022 $1,654,756 f549,703 f2,723,889 f4,928,348
Cost at 31 December 2021 f1,671,697 f558,407 X2,690,743 f4,920,847
The market values were made up as follows:
2022 2021
UK Listed Investments 4,587,074 4,711,632
Overseas Listed Invesnnents 417,641
Charitable Common Investment Funds 284,022 87,048
Other Investments 18,500 141,391
Cash on Deposit 124,984 70,049
f5,014,580 f5,427,761
Holdings
whose market		 values are more than 5'/o ofthe total portfolio are:
2022 2021
26,416 Mclnroy &Wood Balanced Fund 1,581,951 1,651,591
6,555 Vanguard S&P 500ETF 390,237 439,789

STOCKS
The Grou The Com an
2022 2021 2022 2021
Goods for resale 38,014 41,196
Farm Stocks
Growing crops 28,621 39,099
Stock in store 68,891 34,472
Crops in store 119,756 68,790
Livestock 218,036 212,084
Feedstuffs 11,243 16,928
Other 11,718 14,385
f496,279 f426,954

DEBTORS
The Grou The Com an
2022 2021 2022 2021
Trade debtors 412,875 273,786 144,853 90,632
Income tax recoverable 39,352 31,312 39,352 31,312
VAT recoverable 36,389 13,726
Other debtors 1,192,595 961,615 988,741 696,781
Amount
due fiom GC USA		 270,000 218,219 270,000 218,219
Amount
due fiom other group entities		 1,054,672 676,983
Prepayments 185,267 185,362 177,950 181,093
82,136,478 fL684,020 f2,675,568 81,895,020

The Grou The Grou The Com an
2022 2021 2022 2021
Trade creditors 509,275 342,691 356,881 270,841
Life membership subscriptions 12,503 12,468 12,503 12,468
VAT payable 78,334 64,989 42,559 22,051
Income tax and national insurance 176,020 166,719 176,016 166,719
Amount
due to other group entities
Hire purchase 10,338 15,226 10,338 10,338
Accruals 576,542 381,254 498,104 354,231
Deferted income 90,409 41,921 69,378 22,873
Mortgage 16,534 19,393
f1,469,955 81,044,661 fI,165,779 $859,521
CREDITORS: Amounts falling due after more than one year
The Grou The Com an
2022 2021 2022 2021
Mortgage (see also Note 23a) 178,578 192,348
Hire purchase 19,976 19,976
Life membership subscriptions 81,702 81,213 81,702 81,213
Uefen ed income 18,589 23,900
8278,869 f317,437 881,702 f 101,189
The amounts
falling due		 afier more than five years were as follows:
Life membership subscriptions 35,845 36,375 35,845 36,375
Moitgage 98,710 115,339
8134,555 f15L714 835,845 f36,375

grants and donatio ns held on trust s t o be applied for o be applied for specific purp oses:
Balance
01.01.22		 in ~rrhl Gains and
transfers		 Balance
31.12.22
The Garne and Wildlife Conservation Trust
Grants and donations
Lowlands
research		 464,745 1,160,435 (1,241,078) 384,102
Uplands
research		 213,470 376,523 (575,493) 50,000 64,500
Fisheries 300,746 569,092 (577,092) 292,746
Education 370,411 156,815 (196,910) 330,316
1,349,372 2,262,865 (2,590,573) 50,000 1,071,664
Other funds 14,419 830,091 (50,000) 794,510
1,363,791 3,092,956 (2,590,573) 1,866,174
Allerton
Research		 and Educational Trust
ARET research and farm 457,036 1,]68,194 (964,702) (7,500) 653,028
Game and Wildlife Scottish Demonstration
Farm
GWSDF research and farm 328,245 429,790 (474,265) 283,770
f2, 149,072 f4,690,940 (I4,029,540) (X7,500) f2,802,972
PREVIOUS YEAR ANALYSIS
Balance Gains and Balance
0/.0/.2/ Inc on re ~sr« 3/./2.2/
The Gmne mrrl Wild/ife Conservatiorr Tnrst
Lowlands
reseai'clr		 265,693 J,286,667 (/, 087,6I5) 464,745
Uplands
researclr		 /5, 020 577,0/5 (378,565) 2/3, 470
Fisheries /74, 785 568,9II (442,950) 300,746
Edncation 370,4I/ 252,607 (252,607) 370,4I'I
825,909 2,685,200 (2,I6J,737) l,349,372
Otlrer fimds /6,394 (/,975) /4, 4/9
842,303 2,685,200 (2,/63, 7I2) /,363,79I
Aller/on
Resenrcli mal		 Educational Tnrst
ARET researclr andfarm 282,25I /,007,86'0 /833,075) 457,036
Game mid IVlldllfe Scott/sir Denrorrstration Fnnn
GIVSDF researclr and farm 58,536 402,054 (336,909) 204,564 328,245
I/, l83,090 64,095,//4 (63,333,696) $204,564 62,/49, 072

Balance Movement in Funds Balance
01.01.22 Irlcome Transfer 31.12.22
Legacy Fund
The Legacy Fund was established in 1993as a separate fund derived
from legacies in		 excess off, 10,000
received
in		 1993and subsequent years, allocated at the Trustees' discretion, In 2021 the remaining balance was
transferred to the General Fund.
PREVIOUS YEARANALYSIS Balance Movement in Funds Balance
0/.0/.202/ r ~T 3I/I2/202/
Legacy Fund 8,045 (8,045)
E8,045
FAIR VALUE RESERVE
Balance Movement in Funds Balance
Amounts
01.01.22 Revaluation now realised 31.12.22
Property fair value resen e 167,575 167,575
Unrealised gains on investments 159,647 (139,629) 6,254 26,272
f327,222 (f.139,629) L6,254 LI93,847

Fund balances at 31 December 2022 were represented by the followin g
assets and liab		 ilities;
Unrestricted Restricted Endowment
Funds Funds Funds Total
Tangible
fixed assets		 991,582 112,329 2,500,961 3,604,872
Investments 1,833,574 393,152 2,787,854 5,014,580
Current assets 3,427,221 2,352,197 (76,986) 5,702,432
Cun.ent liabilities (1,262,434) (36,117) (171,404) (1,469,955)
Long-tenn
liabilities		 (81,701) (18,589) (178,579) (278,869)
K4,908,242 g2,802,972 f4,861,846 812,573,060

Unrestr/cted Unrestr/cted Res(ricted Res(ricted Endowtnent
Funds Funds Funds Total
Tangible jixed assets
l,223,862		 299,533 2,099,223 3,622,6/8
Investments
/,969,2/9		 425,467 3,033,075 5,427,76I
Cnrrent assets
J,95/,874		 /,6/4, /87 204,728 3,770,789
Cnrrent
liabililies		 (845,656) (I90,I/5) (8,890) (/, 044,66l)
Long-tenn
liabilities		 (/05, //3) (2/2, 324) (3/ 7,437)
$4,/94, /86 $2,/49072 75,/158I2 ZJ/,459,070
23. NOTES TO THE CASH FLOW STATEMENT
a. Reconciliation
ofnet income/(expenditure)		 to net cash
flow from operating
activities
2022 2021
Net income
/ (expenditure
for the reporting		 period (as per the
statement offinancial
activities)		 1,113,990 1,893,011
Depreciation
charges		 277,452 204,783
(Gains) / losses on investments 385,198 (450,399)
Dividends,
interest and rents from investments		 (121,429) (67,614)
Interest payable 8,110 9,284
Loss / (profit) on sale offixed assets (14,922) (29,701)
(Increase)
/ decrease
in stocks		 (69,325) (50,358)
(Increase)
/ decrease
in debtors		 (452,458) (346,212)
Increase/
(decrease)
in creditors		 415,724 11,104
Net cash provided
by (used in) operating		 activities 81,542,340 i 1,173,898
b. Analysis ofcash and cash equivalents 2022 2021
Brokers' deposit accounts 124,984 70,049
Cash at bank and in hand 3,069,675 1,659,815
Total cash and cash equivalents X3,194,659 81,729,864

The total commitment
under		 non-cancellable
operating
lease rentals		 was:
2022 2021
In respect ofland and buildings:
Leases which expire within one year 44,]86 40,139
Leases which expire in the second to fiRh years 46,600 60,000
In respect offixtures, fittings and equipment:
Leases which expire within one year 36,610 25,947
Leases which expire in the second to fifth years 6,624
In respect ofmotor vehicles:
Leases which expire within one year 20,867 14,894
Leases which expire in the second to filth years 27,426
8175,689 f147,604
Rentals paid during
the year		 were:
Land and buildings 144,708 93,964
Fixtures, fittings and equipment 39,110 36,610
Motor vehicles 50,148 40,034
f233,966 8170,608

General Restricted Endowed Total
Fund Funds Funds 2021
Income and endoivments from:
Donations
and legacies
Members
subscriptions		 1,339,656 1,339,656
Donations
and legacies		 1,680,513 1,809,262 3,489,775
3,020,169 1,809,262 4,829,431
Charitable
activities		 2,152,610 2,152,6]0
Other trading activities
Fundraising
events		 1,671,508 1,671,508
Advisory
Seivice		 244,700 244,700
Trading income 190,223 190,223
Investment
income		 11,791 55,823 67,614
Other 111,323 77,419 188,742
Total 5,249,714 4,095,114 9,344,828
Expenditure
on:
Raising funds
Fundraising
events		 456,677 456,677
Membership
and		 marketing 714,326 714,326
Other fundraising costs 1,233,349 8,740 1,242,089
2,404,352 8,740 2,413,092
Charitable
activities
Research and conservation
Lowlands 800,710 1,087,615 1,888,325
Uplands 121,819 378,565 500,384
Demonstration 222,761 1,169,984 4,150 1,396,895
Fisheries 210,580 442,950 653,530
1,355,870 3,079,114 4,150 4,439,134
Public education 795,408 254,582 1,049,990
2,151,278 3,333,696 4,150 5,489,124
Total 4,555,630 3,333,696 12,890 7,902,216
Income/(expenditure)
before investment
gains		 694,084 761,418 (12,890) 1,442,612
Net gains / (losses) on investments:
Realised 39,847 65,616 105,463
Unrealised 164,206 180,730 344,936
Net income/(expenditure) 898,137 761,418 233,456 1,893,011
Transfers
between
funds		 (204,564) 204,564
Net movement
in funds		 693,573 965,982 233,456 1,893,011
Reconciliation
offunds:
Total funds brought
forward		 3,500,613 1,183,090 4,882,356 9,566,059
Total funds carried fomvard f4,194,186 f2,149,072 f5,115,812 f11,459,070