Vvvr Vincent Wlldlife Trust Annual"Report arfd Financial Statements 31 December 2020 ## ## Iw successful re of the pine martein.in Wales. ,,W were also able lo confinfi,, ' that.pine ma¢tens are¥eturning "Athorth-east England. Iients 202d rj ## -J £co¥2*i.!￿. Priority Species so that _ £ self-stistalnin&￿-Ith.minlmaTr cthiflicL where itateffdnther conditions are¥SUitabl ## ## Financial Review 6p_ The cbarity.'s inci>Tll@thd*xi3qnditure3nd its net . movementln funds for the.ye r is 5tyown In the Statement of Financial Activiti nd'vvithh:the relevant notes to the f einents. , 22 ## ## Vince Wildlife Trust Annual Reponétid Financial Statemen¥$ 2020 25 ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Notes||||| |---|---|---|---|---|---|---|---| |Income and endowments||from:|||||| |Donations
and legacies||||53,509|282,801|336,310|244,799| |investment
income||||183,827||183,827|297,608| |Other income||||1,713|153|1,866|203,875| |Total income||||239,049|282,954|522,003|746,282| |Expenditure
on|||||||| |Raising funds||||124,639|7,257|131,896|126,460| |Charitable
activities|||||||| |Mammal
conservation||||645,842|242,077|887,919|973,908| |Other||||20,004||20,004|466| |Total expenditure||||790,485|249,334|1,039,819|1,100,834| |Net gains/{losses)
on|investments|||856,282||856,282|2,555,198| |Net income/(expenditure)||||304,846|33,620|338,466|2,200,646| |Transfers between|funds||20|(142,788)|142,788||| |Net movement
in funds||||162,058|176,408|338,466|2,200,646| |Reconciliation offunds|||||||| |Total funds brought|forward|||20,495,004|58,019|20,553,023|18,352,377| |||Notes||||| |---|---|---|---|---|---|---| |Fixed assets||||||| |Tangible assets||15|1,549,973||1,549,973|1,558,643| |Investments||16|19,081,365||19,081,365|18,866,932| |Total|||20,631,338||20,631,338|20,425,575| |Current assets||||||| |Stocks||17|204||204|214| |Debtors||18|29,925|47,168|77,093|107,369| |Cash at bank|||128,593|217,204|345,797|98,323| |Total|||158,722|264,372|423,094|205,906| |Creditors||||||| |Amounts
falling due within one year|||(132,998)|(29,945)|(162,943)|(78,458)| |Net current|assets||25,724|234,427|260,151|127,448| |Total assets less current liabilities|||20,657,062|234,427|20,891,489|20,553,023| |Net assets|||20,657,062|234,427|20,891,489|20,553,023| |Funds||20||||| |Unrestricted|funds||||20,657,062|20,495,004| |Restricted funds|||||234,427|58,019| ||||Notes||| |---|---|---|---|---|---| |Cash flow from operating activities:|||||| |Cash generated
from operations|||22|(605,162)|(924,775)| |Net cash used in operating
activities||||(605,162)|(924,775)| |Cash flows from investing
activities:|||||| |Purchase oftangible
fixed assets||||(23,274)|| |Purchase offixed asset investments||||(12,292,942)|(1,227,849)| |Sale oftangible fixed assets||||(1,055)|259,756| |Sale offixed asset investments||||12,974,874|1,505,593| |Income received from listed investments||||194,865|289,934| |Interest received||||168|308| |Net cash provided
by investing
activities||||852,636|827,742| |Change
in cash and cash equivalents|in the reporting|period||247,474|(97,033)| |Cash and cash equivalents
atthe beginning ofthe reporting||period||98,323|195,356| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Income from listed investments|183,658||183,658|297,300| |---|---|---|---|---| |Bank interest receivable|169||169|308| ||183,827||183,827|297,608| |Publications —UK|965||965|136| |Other income —UK|407|100|507|114| |Other income —Ireland|226||226|952| |Sale ofassets —UK|115|53|168|2,727| |Sale ofproperty —
UK||||199,946| ||1,713|153|1,866|203,875| |Investment|Management|fees|121,283||121,283|112,463| |---|---|---|---|---|---|---| |Fundraising|expenses||3,356|7,257|10,613|13,997| ||||124,639|7,257|131,896|126,460| ## |Mammal
Conservation||||| |---|---|---|---|---| |Research and surveys|365,957|242,077|608,034|680,741| |Nature
reserves|221,822||221,822|235,769| ||587,779|242,077|829,856|916,510| |Research and Surveys —UK||||| |Pine Marten
Recovery Project||35,003|35,003|93,516| |Bechstein's Bats||10,000|10,000|| |Backfrom the Brink (BftB)||15,827|15,827|17,631| |Two Moors||14,049|14,049|| |Professional
fees|955||955|1,108| |National
Pine Marten Strategy||14,265|14,265|| |Life Assurance
and Medical||119|119|360| |Forest ofDean||10,279|10,279|29,784| |Wildcat||1,807|1,807|9,562| |Lynx|341||341|| |Romanian
Mink||5,463|5,463|| |Bat Programme||4,675|4,675|| |Croatia, Lokrum||||6,400| |Other Research and Projects|27,399||27,399|36,704| |Field Office Costs|139,761|49,352|189,113|201,859| |Support Costs —see note 7|64,463|77,222|141,685|146,536| ||232,919|238,061|470,980|543,460| |Nature Reserves —UK||||| |Maintenance
and Improvements|25,152||25,152|17,417| |Depreciation|8,484||8,484|8,890| |Field Office Costs|69,092||69,092|72,093| |Support Costs —see note 7|59,678||59,678|61,416| ||162,406||162,406|159,816| |Research and Surveys —Ireland||||| |---|---|---|---|---| |Research and Project Field Work|6,934|4,016|10,950|3,074| |Other|1,633||1,633|1,999| |Field Office Costs|82,973||82,973|86,146| |Support Costs —see note 7|41,498||41,498|46,062| ||133,038|4,016|137,054|137,281| |Nature Reserves —Ireland||||| |Maintenance
and Improvements|14,050||14,050|27,696| |Depreciation|3,332||3,332|3,332| |Other|544||544|857| |Field Office Costs|27,657||27,657|28,715| |Support Costs —see note 7|13,833||13,833|15,354| ||59,4-16||59,416|75,954| ## |Staff Costs|||102,182|43,040|29,928|9,976| |---|---|---|---|---|---|---| |Office Costs|||34,821|14,667|10,199|3,400| |Legal and Professional||Fees|4,682|1,972|1,371|457| |Audit Fees||||||| |Trustees' Expenses||||||| |Trustees'
Indemnity|Insurance|||||| ||||141,685|59,678|41,498|13,833| ||||||~| |---|---|---|---|---|---| ||||||y| |Staff Costs|||41,638|226,764|220,354| |Office Costs|||13|63,100|74,407| |Legal and Professional||Fees|650|9,132|13,123| |Audit Fees|||13,056|13,056|11,910| |Trustees' Expenses|||992|992|5,441| |Trustees'
Indemnity|Insurance||1,714|1,714|1,529| ||||58,063|314,758|326,765| |||~|I| |---|---|---|---| |Research and Surveys —UK|49||49| |Research and Surveys —Ireland|14||14| |Nature
Reserves —UK|21||20| |Nature
Reserves —Ireland|5||6| |Governance
Costs|11||11| ||100||100| ## |Loss on disposal offixed assets||20,004|20,004|466| |---|---|---|---|---| |||20,004|20,004|466| |Net income/(expenditure)
isstated|after charging/(crediting)|||| |Staff Pension Contributions|||34,968|35,463| |Depreciation|||13,163|20,827| |Auditors'
remuneration —audit ofthe financial||statements|9,900|9,900| |Auditors'
remuneration —non-audit|services||3,156|2,010| |Operating
Lease Costs —land and|buildings||17,538|22,565| |Deficit/(surplus)
on disposal of Fixed Assets|||19,835|(202,207)| ## |Total staff costs were as follows:||| |---|---|---| |Wages and Salaries|511,048|512,385| |Social Security Costs|48,879|54,813| |Pension Costs|34,968|35,463| ||594,895|602,661| |The average monthly
number ofemployees
during the year was as follows:||| |---|---|---| |Number of Field Staff (FTE—2020: 'I 0.58; 20'l 9: 1'l.34)|13|13| |Number ofAdministrative
Staff (FTE—2020:5.64; 20'l 9:5,36)|9|7| ||22|20| ## |Income and Endowments|from|||| |---|---|---|---|---| |Donations
and Legacies||84,037|160,762|244,799| |Investment
Income||297,608||297,608| |Other Income||201,148|2,727|203,875| |Total||582,793|163,489|746,282| |Expenditure
on||||| |Raising Funds||124,258|2,202|126,460| |Charitable
Activities||||| |Mammal
Conservation||693,531|280,377|973,908| |Other||466||466| |Total||818,255|282,579|1,100,834| |Net Gains on Investments||2,555,198||2,555,198| |Net Income/(Expenditure)||2,319,736|(119,090)|2,200,646| |Transfers Between Funds||(122,769)|122,769|| |Net Movement
in Funds||2,196,967|3,679|2,200,646| |Reconciliation
of Funds||||| |Total Funds brought forward||18,298,037|54,340|18,352,377| ## ||~ ~|~ ~|||| |---|---|---|---|---|---| |Cost|||||| |At 1 January 2020|1,381,202|579,581|44,699|14,770|2,020,252| |Additions|19,476|||3,798|23,274| |Disposals||(29,194)|||(29,194)| |At 31 December 2020|1,400,678|550,387|44,699|18,568|2,014,332| |Depreciation|||||| |At 1January 2020||403,943|44,699|12,967|461,609| |Charge for Year||11,816||1,347|13,163| |Eliminated
on Disposal||(10,413)|||(10,413)| |At 31 December 2020||405,346|44,699|14,314|464,359| |Net BookValue|||||| |At 31 December 2019|1,381,202|175,638||1,803|1,558,643| ## |At'IJanuary|2020|18,866,931| |---|---|---| |Additions||12,292,942| |Disposals||(12,473,048)| |Revaluations||394,540| |At 31 December 2020||19,081,365| ## |Listed Investments|||| |---|---|---|---| |UK Quoted
Fixed Interest Securities|983,643|983,643|1,520,426| |Non-UK Fixed Interest Securities|209,823|209,823|392,265| |UK Quoted Shares|293,403|293,403|3,560,103| |Non-UK Quoted Shares|3,902,017|3,902,017|5,670,767| ||5,3&8,886|5,388,886|11,143,561| |Other Investments|||| |Other UK Investments|4,870,256|4,870,256|5,253,109| |UK Cash held as part ofPortfolio|5,910,321|5,910,321|606,947| |Other Non-UK Investments|2,831,490|2,831,490|1,833,996| |Non-UK Cash held as part ofPortfolio|80,412|80,412|29,319| ||13,692,479|13,692,479|7,723,370| ## |Trade Debtors||47,610|87,820| |---|---|---|---| |Other Debtors||6,265|7,126| |Prepayments|and accrued income|23,218|12,423| |||77,093|107,369| |Included
within debtors above are the following amounts|Included
within debtors above are the following amounts|relating to operational|relating to operational|relating to operational|activities|in the|Republic of Ireland:|| |---|---|---|---|---|---|---|---|---| |Trade Debtors|||||||4,961|220| |Other Debtors|||||||1,858|5,629| |Prepayments
and|accrued income||||||5,629|1,055| ||||||||12,448|6,904| |The Euro equivalent|was 413,846(2019:68,084)as converted||at the year-end|exchange rate.||||| |Trade Creditors|||||||16,402|9,885| |Other Creditors|||||||93,656|41,878| |Accruals and Deferred Income|||||||52,885|26,695| ||||||||162,943|78,458| |Included
within creditors above are the following amounts||relating to operational|||activities|in the|Republic ofIreland:|| |Trade Creditors|||||||721|1,442| |Other Creditors|||||||8,044|7,951| |Accruals and Deferred Income|||||||1,923|1,393| ||||||||10,688|10,786| |The Euro equivalent|was 611,889(2019:612,631)as converted||at the year-end|exchange||rate.||| ## |Net income/(expenditure)
for the reporting
(as per the statement
offinancial activities)|period||338,466|2,200,646| |---|---|---|---|---| |Adjustments
for:||||| |Depreciation
Charges|||13,163|20,828| |Gain on Investments|||(856,282)|(2,555,198)| |Loss/(Profit)
on Disposal of Fixed Assets|||19,836|(202,207)| |Interest Received|||(168)|(308)| |Income Received from Listed Investments|||(183,658)|(297,300)| |Decrease
in Stocks|||10|59| |Decrease/(Increase)
in Debtors|||30,276|(39,369)| |Increase/(Decrease)
in Creditors|||33,195|(51,926)| |Net Cash used in Operations|||(605,162)|(924,775)| |Net Cash||||| |Cash at Bank||98,323|247,474|345,797| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ##