Company registration number.. 05639227 Charity registration iiumber.. 1119614 The Sherwood Forest Trust {A COTnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2022 Community Accounting Plus Units l & 2 North West 41 falbot Street Nottinghain NGI 5GL
The Shenvood Forest Trust Contents Reference and Administrative Details Trnstees, Report 2to8 Independent Exaininerfs Report Ststement of Financial Activities Balance Sheet 12 Noies io the Financial Statemenis 13to24
The Shenvood Forest Trust Reference and Administrative Details Trustees Carl Cornish Andrew Ststham Robert Bedlby Timothj Hill Jennifcr Turner Henry FatT Louise Hackett John Peck Erin Baker Senior Management Team Patrick Candler, CEO Matt Smith, Conservation Mgnager Charity Regi5tratioN Number 1119614 Company Registration Number 05639227 Registered Office 516 Church FaTm Busines5 Centre Mansfield Road Edil'instowe Mansfield NottingFhainshire NG219NJ Indtpendtnt Examintr John O'Brien. employee of Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
The Shenvood Forest Trust Trustees, Report The irustees, who are directors for the purposes ol- company law, present the annual report together with the financial statemenis of the charitable company for the year ended 31 March 20?2. Trustees and offieer5 The trustees and officers serving durii)g the year and since the year end were as follows.. Trustees.. Carl Cornish Andrew Ststham Robert Bealby Timothy Hill Jennifer Turner Henry FatT Louise Hackett John Peck Erin Baker (appoinied 7 September 2021) Terry Yates, until 0810212022 Structure, govtrnanee and management Nalure ofgoverniug documeul The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 31 st October 2005 and most recently amended on 29nd October 2009. It ha5 no share capital and the liability of each meinbcr in the event of winding-up 15 limited to £1. Recruilmenl uppoinlmenl of iru51ee5 Trustees are elected at the AGM based on their appropriate skills and experience and in accordance with the Trust's article5 of association. Representatioii may be froin environmental orgFanisations, local busiiies5es and the community. Objectives and activitie5 Objects anddims l} For the educaiion, enjoyment and benefit of the public ro preserve. protect and re-esrablish the flora and fauna ol'the county ol'Nottinghamshire and adjoining disirict ol'Bolgover; 111 For the educatilin, enjoyment and benefit of the public to preserve, protect. restore and recreate buildings (including an}, buildings as defined in Section 336(A) of the Town and Country Planning Act 1990), sites or structures which are ancillary to or associated M'ith the objectives of preserving. protecting, restoring and re-establishing the flora and fauna of the aforesaid area.. 1111 To advance the public education in all matiers conceming such flora. faun4 building sites and structures; IV) To provide for public recreaiion in the interests of social welfare: V) To acquire by purchase, gift or othenvise land, sites, structures or buildings (including any buildings as defined in Section i3611) of the TO.n and Country Planning Act 19901 siiuated in the aforesaid area an}. rights, easements or interests therein or thereover and io hold, maintain and manage ihe same for the purposes of Ihe objects set out in {]). {][). {111) and (IV) herein. Page 2
The Shenvood Forest Trust Trustees, Report Objeclives. slralegies and aclivilies VISION - Sherwood Forest-to be the best heritage forest in the worldT MISSION to champion Ihe preservation, CL)nservation, learning, enjL)yment and economic development of Ihe Shenvood Foresi area. PURPOSE to be the lead organisation in respect of all landscape, habitaL cultural, heriiage, educational and community activities for the Sherwood Forest Character Area (SFCA). l. Lead on the establishment of a Region81 Park for Sherwood Forest. 2. Promote the spirit and uniqueness of SheN"'ood. 3. Enrich the legacy of the forest, now and for future generaiions. 4. Conserve Ihe heritsge landscape and wildlife habitsls. 5. Help people understand and better enjoy their natural alld culiural heritage. 6. Encoiirage the creation of improved visitor and tourism experiences. 7. Enhance local communities, quality. of life. 8. Provide information. advice and guidance on Shen¥ood. 9. Support new economic regeneration activities. l O. Ei)sure that our orgTanisation 15 fit for PU05£, financially and structurally. Ptsblle benejli All aspects of work have charitable purposes and outtoines to achieve.. People focussed- Sup)rtIng individual and local community groups in naiure and heritage,. Nature improved laiidscapes and sile managemeni plans created and managed; Habitats iinproved- specialist conservation work for flora and fauna- SFT future secured - new funding in place. Th¢ tnistees confimi that they have complied with the requirements of section 17 of the Charities Act 2011 to hgve due regard to the public benefit giiidance piiblished by the Chgrity Cominission for England and Wales. Page 3
The Shenvood Forest Trust Trustees, Report Achievements 2021122 has been one of the most successful years for the Trnst maiiily due to three new initiatives that we have been able to take forw'ard. Green Recovery Challenge Fund (GRCF) - the beginnin£ of the YeE saw the completion of the recrnitinent of three new full time staff to help deliver the GRCF, a significant expansion in temis of SFT capability and capacity. The project consisted of three key strands- lowland heathlands, woods and people. Key project outcomes for all three strands were successfully delivered, and in many cases exceeded. We were able to revisit the Heathland Re¥ister (19971 and survey 140 site5 coverin¥ more thali l 000 hectares. This wa5 the first time anyone had done anythin¥ oli this scale for inore thali a quarter of a century. Restoration .ork wa5 Started on several site5 111 the Sherwood Forest area and we will continue to work on these and other 51tes to build on the succes5 of the scheine. Liaising with local land0merS, we have planted more than 5000 trees on two fannland siies near Retford. In addition to the Green Recovery funding. we have received funding from Sevem Trent Water. under their"Boost for Diversity" scheme and the Woodlaiid Trust. This h&s enabled us tl) involve local communities and businesses in our community planting programme. This has been hugely su¢cessflll. We could not have planted the trees without their colltributions and we thank everyone who was involved. Our community engagement programme has really developed across Sherw'ood Heath. Oak Tree Heath and other sites. We have delivered a greaily increased the number of nature management activities. w'alks and tslks and contributed well to wider biodiversity initiatives- involving maiiy more people from local communities. A mid-term review of the GRCF programme was approved by Trnstees at the AGM and can be dolOaded from our website. Trees for Climats (T4C) - a second ke}. sirand to our work that started Ihis year was the T4C programme. The Trust is working in partnership with Nottinghamshire County Council and the Greenm'ood Community Forest to plant 250 hectares of new woodland bj. March 9025. A lot of planning and development work a8 carried out this year, M'ith planting tsking place at Vicardale and Berry Hill Park, near Mansfield. There is good potential for 2022 and beyond ai)d we look fotiward to this project developing and achieving Jiew targets in the coming years. Community Tree Nursery- this project was started in 2020121 and during Ihe course of the year clearly captured the imagination of the public and funders. here we received some very helpful grants from Aviva and Mansfield Building Society to create a new SheN'oLThJ Tree Nursery on the site L)f Feelgood Gardens. our prL)ject partners. This project continues to develop and is another exciting prospect for 2022123 Covid 19- the SFT response Throughout the year. we were still concerned about the Covid 19 pandemic and although 'e came oiit of lockdonS iii the autumn and were able to pick up 011 work that had betii put on hold, there was still a long held resistance for many partners and communities to become as fiilly engaged in activities as they might hav¢ been before Mar¢h 2020. We have to accept this as an oc¢upational challenge. Page 4
The Shenvood Forest Trust Trustees, Report Resilient Heritage- Building our Resilience Strategy and Plan While this strategy contii)ues tts guide the direction of the Trust and we w'ere able to complete furthei phases of piojects around the 5 ke}, theines against w'hich our progiamme is measured, Trustees are keel) to see a new 3 )'eai plan developed and thi5 will form the basis of the dnnual report 20?3. However, ftsr the past year, the key outputs are.. l.Govemance Trustees and The Executive Committee have met on a regular basis throughout the year IL) ensure a consistency and continuity in Ihe governance of Ihe frust. In April, Andy Staiham took on the role of Chair M'ith Terry Yales becoming Company Secreiary. Erin Baker became a Trustee in the summer and brings sironger links with the health sector. 2. Protnotioii- Marketing and Event5 Our new web-site was Completed and provides a much better representation of what we are about than our earlier versions. Using our in-hliuse team we have also been able ro make some brilliant short promotional videos of Shenvood and rhe work of the Trust, including an infomiaiive video about the Firestarter ProjecL aimed at reducing Ihe damage caused by fires, especially on local heathland sites. We l)ave also been incieasingly using social media to reach new audiences. promote events and actively ei)gage ith the local community. The Covid 19 lockdo7 in June prevented us from organising the Major Oak Woodland Festival, but later in August we w¢re abl¢ to put on our Wild iii the Greenwood eek at th¢ National Nature R¢5erv¢. We Used this event to promote not only our work but that of friends and partners and overall, it was really successful with more than 2iOO visitors. 3. Conservation and Heritage This reinains central to our work on a nuTnber of sites acr055 the county, either directly mana¥iii¥, working with community groups or giving advice, guidanLe and support. On the landscape side, we maintaii)ed our work at sites including.. • Parliament Oak- we have undertaken a whL)le new exiernal fencing project 10 protect the tree Sherwood Heath helping to retain its green flag status Oak Tree Heath- working with local coinmunities to improve the heathland Newstead Abbey Partnership- chaired by our CEO Guardians of Sherwood- management of16,000 hectares of fam]land across the county Woodland malgement - advice to land 0ers, land managers and golf clubs We are active members of the Nottinghamshire Heritage Forum and contribute to the Inspire Nottinghamshire heritage network as well as building partnerships iviih local heritage siies and groups through the Spirit of Wartim¢ Sherwood Project and beyond. Page 5
The Shenvood Forest Trust Trustees, Report The Trusi is engaged on a local heritage projeci based on the life of Major Haymaii Rooke, frL)m whom the Major Oak gained its name. This will see community volunteers research and produce a short video, and plan a series of walks to celebrate in ?02i two hundred years since the Majows birth. 4. Educatioi) and Engageinent This is a key element of the increasingly successful World War 2 project funded through the National Lottery Heritsge Fund. The project always envisa£¢d a lot of hoine and community based working. which were re%tricted diie to the Cnvid-19 pandemic. However, M'e have been able to continue to deliver this project by excellent use of video conferencillg 'hICh has enabled participants to attend seminars. disciissions and heritag¢ skills courses. A5 lockdowis elided, direct access to site5 ai)d people have resumed and been very well received. it]cluding working with home educating fainilies, primary schools, special needs colleges and universities. We were able to continue our Heritage frees Project, part funded through the M2M LPS, with events at St Mary's Church, Edwinstowe, Feelgood Gardens and with Wellow school. We have been able to retail) strong relationships with St Mary's Church, the Edwinstowe Historical Society and other local community grtsupg. 5. Strategic Coordination and Cros5 Cutting Even in a challenging and restrictive year, the Trust has continued to develop its links with a broad range of naiional and regional activities, gnd very often uses its influence and position to bring organisations together to help make a difference to the protection. preservation and promotion of Shenvood. The Trust plays a key role in several important organisaiions-. Charter for Tr¢es, Woods and P¢opl¢- we ar¢ th¢ Shcrwood Champion for this proj¢cL ¢oordinat¢d nationally by the Woodland Trnst- Sherwood Forest Regional Park- the Trust manages the administration and secretariat role though this has not been a high priority. during this year; ShetTrvood Forest Visitor Centre- the Trust 15 a member of the C01150rtillin under the leadersliip of the RSPB, along with Thoresbj Estate and the Woodland Trust, to operate the iiew visitor centre for Sherwood. Miner to Major IM2M) Landscape Partt)ership Scheine ILPS)- the CEO is a Board Member on this project East Midlands Forestry Woodlgnd Advisory Committee IEMFWACI - the CEO is a community representsiive on this advisory board 'hICh links Ilth the work of the Forestry Commission on a regional basis. Newark and Shenwood Tourism Action Group {TAG)- the Trust supports the work of this group A huge thanks has to go to all those who have stood by the Trust during the coiirse of the year. including all Trnstees, the staff (those M'ho have left and those who remain), partners, stakeholders and nders. Without the 5UPPOrt of all, we would not be able to do what we do to protect, preserve and promote Shetiwood Forest The Sherwood Forest Trust would like to express its deepest sadness at the deaths in February 2022 of Teny Yates. a fomier Chainnan of the Trust Irom 2008-2021. and also to laii Major who was the Con)munity Heritage and LandsLape Manager from 2009-2020. Both played a hugely sigi)ificant part ii) the work and success of the Trust ivith their knowledge, experience and skills. They are greatly missed. The Sherwood Forest Trust would like to thank all our grant funders and partner organisations with whom we have worked during the course of the year. Page 6
The Shenvood Forest Trust Trustees, Report Financial review The I'unding secured through the Greei) Recovery Challenge Fund has greatly imprLived the overall financial position of the Trust. Not only has this grant enabled us to seLure existing posts. but we were able to recruit new staff. Furthermore. the GRCF fundit)g has beei) complemet)ted by other grants ai)d doi)ations. At the year end, the Trnst was in a stronger financial positioi) thai) at the start of the accountit)¥ period. Policy om reserves The trustees are aware of the need to build up reserves in order to provide working capital and to safeguard against fluciuations in income and funding. The tsrget level of reserves is £30,000. Princip&lri5k.f uncertainlies The Covid 19 coronavirus continue5 to have an impact on a rantwe of contrdctual and other works that had been put on hold siiice March 2020. There is no doubt that this contributed to [£tr ¥rant approvals and 5ub5equent loss of income. iiotiTrithstanding the support received Irom the Green Recovery Challenge Fund. At the beginning of April 2021, the country was still in differing stages lockdown with significant levels of uncertainty as to when things might return to'nomial,. It is evident that many grant funders changed Iheir criteria ro support immediaie humanitarian causes directly associated wilh Ihe pandemic. This meani that the conservaiioii secior wilh its longer term ouicoines is Still vulnerable, though there is an opportuniiy ftsr building back greener. which should help envin)nmental and conservaiion charities. Page 7
The Sherwood Forest Trnst Trustees, Report Statement of Trustee8' Responslbllltles The ttwsiees (who are also the dir¢ctors of The Sberwood Forest Trust for th¢ purposes of ¢OrnPdDy lawl 8re responsible for preparing the tsystees, report and th¢ fsnancTal statements in aecordance with the United Kitlgdom Accounting Standards (United Kingdom G¢n¢raIly A¢¢¢pted AGrouMing Practice) alld applicable law and r¢8ulations. The report and accounts have been ppared a¢¢ordanc¢ with rhe provisions in the Cornpanies A¢1 2006 [elatg to small eornpanie5. Compatty law [Equi5 tht trustees to prep¢ n¢la1 statcment5 for cach financial ye2T. Under ¢ornpany law the trustee8 must not approvt the fit)ancial $tatement$ uul¢s5 they ar¢ 5atisfi that they give a tNe and fair i'iew of the state of affairs of the charitsble company at)d of its irjcoming re5our¢¢5 8TKi application of resources, inclllding it5 income 2nd expendityre, for that period. In PTq>ariDg these financial ststements, Ihe tsustecs arc required to.. s¢le¢t suitabl¢ 4¢¢ounting poli¢i¢$ 8nd apply IIM coD5i5tC]Ltly. obs¢rye the m¢thods and prittciples in the Chatiiies SOBP. make judgements and ¢siimate$ that ar¢ r¢asonabl¢ prudeni: statc whctbcr applicablc UK Accountin8 Standar&% have been followed, subject to any rnat¢riAI deparths di$¢losed #lld expliliD¢d ill th¢ fillancial slatcmcnts" and prep8r¢ th¢ finan¢ial 8tat¢m¢nts on the going ¢otLcern basis unless it is inappropriate to presumc that the charitablc company wl1 I continue in busincss. The In1¢¢$ ar¢ re$1)$1b1e for keeping adequate a¢¢ounting retord5 that are 8ufficient ro show and eKplain the chariitble company's transaetions and disclose with re2$0nable ¥rcuTrry at any timt the finanei21 position of ihe charitsble CoMpY and enable them to eThsure that the flnancial statements ¢oJnply with the Ci)mpanies Act 2006. Thty ore also responsible for feguardIng the assets of the charitsble company 2t)d hence for tsking rcasonable $tep$ for the pr¢v¢Mioo and d¢t¢¢tion of frdud alld other irregul8rittes. Small CODWaDle5 provIslon statemen( This report has been prepared in aceordance with th¢ small ¢ompani¢s r¢ginJ¢ th¢ CollyDies A¢1 2006. The attnual report was approved by the tn of the cbariry Dth.................... Sigtt on its behalf by: Andrew Statham Trllstee Page 8
The Shenvood Forest Trust Independent Examiner's Report to the trustees of The Sheood Forest Trust Independent exarniner's report to the trustees of The Sherwood Forest Trust ('the Compan! } I report to the chariry trustees on my examination of the accounts of the compan}, for ihe year ended 31 March 202? Responsibilities and basis of report As the charity's tTUStees of the coillpany {and also its directors for the piirposes of company law} you are re5poiisible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 2006 (the 2006 Act,). Having satisfied myself that the accounts of the Compat]y are i)ot required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of iny examination of your charity's account5 as caled out under sectioii 14) of the Charities Act 2011 ('the 2011 Act,). In canying oiit my examination I have followed the directions given by the Charity Commission under section 145{5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connectioii with the examination giving me cause io believe thai in any material respeci.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do iiot a¢coid with those records- Or 3. the accliunts do not comply with the accounting requirements L)f section 396 of the 2006 Act other than any requirement that the accounis give a 'true and fairf view which is not a matter considered as part of an independeni examination,. L)r 4. the accounts have not been prepared iii accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting b), charities lapplicable to charities preparing their accounts in accordance with the Financial Reportiiig Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concerns and have come across no other matters in connection M'ith the examii)ation to which attention should be drawn iii this report iii order to enable a proper understanding of the accounts to be reached. JoThrnWrien Msc, FCCA, FCIE. employee ofcommunity Accounting Plus ellow of the Asswiation of Charity Independent Examiners Units l & ? North West 41 falbot Street Nottiiigham NGI 5GL Dale.. 1711112022 Page 9
The Shenvood Forest Trust Statement of Financial Aetivities for the Year Ended 31 March 2022 {Ineluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2022 Total 2021 Unrestricted Restrieted Note Income and Endowments from: Donatioiis and legacies Charitabl¢ artivities 30,9iO 38,379 30,930 202,143 29,379 180,054 163,764 Total incom¢ 69,309 163,764 233,073 209,433 Expenditure on: Charitable activities (35,543) (164,782) (200,3951 {101,955} Total expenditure (35,5431 (164.782) (200,i?51 {101,955} Net incomel(expenditure) Transfers between funds 33,766 8,910 {1,0181 {8,910} 32,748 107,478 Net movement in funds {9,9281 32,748 107,478 Re¢on¢iliation of fund5 Total funds brought loiward Total funds carried forward 38,240 110,428 148,674 41,196 80,922 100,500 181,422 148,674 All of the charity's activities derive frotn coiitit]uing opeTations during the above two periods. The fund5 breakdow for the period 15 showt] in note 17. The notes on pages 13 to 24 fotyn an integFral part of these financial statements. Page 10
The Shenvood Forest Trust Statement of Financial Aetivities for the Year Ended 31 March 2022 {Ineluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are included for comparative purposes Unrestricted Restricted Total funds funds 2021 Note Income and EndowmeTht5 from: Donations and legacies Charitable activities 29,379 18,654 29,379 180,054 161,400 Total income 161,400 209,4Ji Expenditure on: Charitable activities (50,?28} (51,727 {101,955) Total expenditure 150,*28} (51,727 {101,955) Net (expenditurellincome Transfers between funds {2.19.f } 8,000 109,673 18,000) 107,478 Net movement in funds 5,805 101,673 107,478 Reconciliation of fund5 Total funds brought forward 32,441 8,755 41,196 Total funds carried forward 17 38,246 110,428 148,674 The notes on pages 13 to 24 forn] an integFral part of these financial statements. Page 11
The Sherwood Forest Trust (RegistratioD number: 05639227) Balance Sheet 9$ at 31 March 2022 2022 2021 No Fixed assets Tangible &ssets 9,361 1.536 Curretst assets Debtors Cash at bank and in hand 10 31.436 148,852 15,681 142.029 180,288 157,710 Credltors: AmouDts flllng due wlthln one yer 8,227) 10,572 lyd current assets 172,061 147,138 etets 181,422 148,674 of tht tharhy: Restricted ineome funds Restricted funds 17 100,500 110.428 urestrICted Ineome funds Unrtstrided fimds 80,922 38,246 Totsl funds 17 181,422 148,674 For the financial year ending 31 March 2022 the charity was enlitl¢d to ¢xemptiort from audii under section 477 of the Companies Act 2006 relatin8 to small companies. Directors, r¢sponsibilities.' The members hav¢ nol required the charity to obtain 8n audit of its Unts for the year in qu¢stiort in accordance with section 476. and Th¢ directors aeknowledge their ffSPODsibÈlities for complying with the requirements of the wtth res to a¢wynting records and the preparntion of accounts. These financial stst¢mettts have been prewed in aceonlance with the special provisions r¢la¢in8 w companies subject to the small ¢ompani¢s regime wÈthin Part 15 of the Companies Act 2006. The fin#neia] statements on pages 10 10 24 were approved by the trustees, and autknrised for issue on 151.1.11.2&nd signed on their behalf by: Tnutee The no*$ on p88¢s 13 to 24 forni an integral part of these financial statements. Pag¢ 12
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 l Accounting policies Summary of significant aeeounting policies and key aecounting estimates The principal accounting policies applied iii the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented. unless othen¥ise stated. Statement of compliance The financial stateineiits have been prepared in accordance with Accounting and Reporting by Charitie5'. Statement of Recoinmended Practice (applicable to charities preparing their account5 in accordance with the Financial Reportin£ Standard applicable in the UK and Republic of Irel[d (FRS 1021) {issued in October 2019) (Charities SORP (FRS 10?)). the Fin[Cial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation The Sherwood Forest Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities ale initiall>' recognised at historical cost or transactioi) value unless otherwise stated ii) the relevant accounting policy notes. Going concern The fii)ancial stateinents have been prepared on a going concem basi5. The trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cagt signilicant doubt on the ability of the charity to continue as a going toncen). The trustees make this assessinei)t in respect of a period of one year from the date of approval of the fii)ancial stateinents. Exemption from preparing a cash flow statement The Charity opted io adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these tinancial sthiemenis. Income and endowrnents Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general iiature is recognised when the charity has eniitlement to the income, it is probable ihat the ineome will be received and the amount can be measured with sufficient reliability. Di)nations are recognis¢d when th¢ charity has been notified in writing of ly)th the amount and settl¢m¢nt date. In the event that a di)nation is subject to ¢onditinlls that reqiiire a level of perfi)miance by the charity before the charity is entitlcd to the funds, the income is deferred and not recognised until either those conditions are fully met: or the ]rI]intjit of those condition5 is wholly within the coiitToI of the charity. and it Is probable tliat these conditions will be fulfilled in the reporting period. Grunts réceivublt Grants are recognised when the charity has an eniitlemeni io the funds and any condiiions linked to ihe grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liabiliti, and included on the balance sheet as deferred income to be released. Page li
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 Expenditure All expenditure is recognised once there is a legal or constrnctiwe obligation to that expenditure. it is probable settlenient is required and the amount cai) be measured reliablv. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs ¢ai)not be directly attributed to particular headin¥s they have beei) alloLated on a basis consistei)t with the ust of rt50urLes, with cei)trdl staff L05ts allocated on the basi5 of titne spent, and depreciation char¥es allocated on the ptsrtioi) of the asset's use. Other support Costs are dllocated based oil the spread of staff costs. Charilable uc¢ivilies Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly IL) such activities and those costs of an indirect nature necessary to suppon them. GoTr'ernmeNt grants Govemment grants are recognised based on the accrnal model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in hICh the related costs are r¢cogni%ed. Grants relating to assets are re¢ogni%cd over the expected useful life of the ass¢i. Where part of a grant relating to an asset is defeed, it is recognised as defeTred income. Taxation The charity is considered to pass the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defiiiition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially eyempt from taxation in respect of income or capital gains received withiii categories covered by Chapter i Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeabl¢ Gain5 Act 1992, to the extent that such income or gain5 are applied exclusively to charitable putposes. Tangible fixed assets Individual fixed assets costing £1,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and 5ub5equent accuinulated impairn]ent losses. Depreeiation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, ovei theii expected useful economic life as folloM's'. Asset elass Agricultural equipment Computer equipment General equipmeni Depreeiation method and rate 25Q/o Straight line 330/0 Straight line 20Q/o Straight line Trade debtor5 Trade debtors are amL)unts due from customers for merchandise Slild or services perfomied in ihe ordinary course of business. Trade debiors are recognised initially at the transaction price. They are subsequenily measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impaimient of trade debtors is estsblished hen there is objective evidence that the charity will noi be able to collect all amounts due ac¢ording to the origingl temis of the re1vable$. Page 14
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 Cash and ¢a5h equivalents Cash and cash equivalents comprise cash 01) hand and call deposits, ai)d other short-temj highly liquid investments that are readily Convertible to a known amount of cash and are subject to an insignificant risk of chai)ge in value. Trade creditors Tiade creditor5 are obli¥ations to pay for ¥ood5 or services that have been acquired iii the ordinary course of busiiies5 from 5upplier5. Accoiints payable are cla55ified a5 CUTrent liabilitie5 if the charity doe5 Ilot have an unconditional right. at the end of the reporting period, to defer settlement of the crediior for at least twelve Inoi)ths after the reporting date. If there is an unconditional right to defer settlement for at least twelve months allei the reportit)g date, they are presei)ted as i)on-ciirrent liabilities. Tiade creditors ale recognised initially at the transaction price and subsequently measured at amortised cost U5in¥ the effeLtive interest inetl)od. Fund structure Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined contribiition pension scheme for employees. The assets of the scheme are held separat¢ly froin those of the charity. Pcnsioii costs chgrg¢s in the Ststement of Pinan¢ial Activities represent the contribiitions payable by the ¢hariry during the year. Page 15
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 2 Income from donations and legacies Unrestricted funds General Total 2022 Total 2021 Donatioi)s and le&Tacies,' Donations from companies, trnsts and similar proceeds Donations from community groups Grants, including capital grants: Government grants Other income from doi)ations and legacies 17,500 2,125 17,500 2,125 1,812 27,2)8 329 11,305 11,305 30,930 30,9iO 29,379 3 Income from Charitable activitie5 Unrestricted fuNd5 General Restricted funds Total 2022 Total 2021 Earned income Sale of merchandise Sundry receipts Grdnis & donations i7,181 440 1,460 38,641 440 21,959 758 33 162 ?71 791 16? ?71 158,091 38,379 163,764 202,143 180,054 Page 16
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 4 Grants & donations Unrestricted funds Restricted funds Total Heritsge Lottery Fund Notts County Council Bolt Services UK Ltd Mansfield Building Society Severn Trent Water W & J Liiine}' Ltd RuTal Payneiits Agency Newark & Sherwood District Council BoM'ring Transport GroundwL)rks UK The Vein Cenire Sundry doi)atitsns 105,753 22,776 105,75i 15,000 15,000 9,700 8.500 9,700 8.500 8,33i 3,618 2,500 3,618 2,500 2,500 1,125 1,000 12,396 2,500 1,125 1,000 1,305 ,091 30,930 162.271 193,201 5 Expenditure on eharitable activities Unrestricted fund5 General Restricted fund5 Total 2022 Total 2021 Accountan¢y & payroll Bank charges Depreciation Project materials & events Heat & power Insiirance IT software & support Legal & professional fees Printing. postage & staiionery Professional services & events RecruilJnent Rent & rates 2,828 2,828 2,669 13 2,012 14,235 1,262 929 1,085 2,737 2,3)6 2,415 1,434 13 1,085 6,234 2.3i6 2,415 1,634 13 3,497 200 2,?32 13 1,375 1,545 1,378 27,315 487 11,399 1,606 3?0 697 5,526 2,368 980 25,770 487 398 10,?40 486 11,399 366 285 348 1,272 1,354 Rcpairs Subscriptions Sundry expenses Travel 35 349 4,254 1,014 74 1,025 Traiiiing Telephoiie Overhead recharges Wages: Nl & pensions 6i6 (14,654) 18,304 Page 17 14,654 113,268 131,572 64,475
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 Unrestricted funds General Restricted funds Total 2022 Total 2021 35,543 164,782 200,325 101,955 6 Net incomingloutgoing resources Net incoinii)¥ resources foi the year include.. 2022 2021 Depreciation of fixed assets 1,085 7 Staff costs The aggregaie payroll costs were as follows.. 2022 2021 Staff cost5 during the year were: Wages and salaries Sociiil security costs Pension costs 1?3.322 4,551 3.699 01,749 874 1,852 lil,572 64,475 The mojithly average nuinber of persons {including senior managerneiit team) employed by the charity during the year was as follows.. 2022 No 2021 No Average number of emplovees 7 (2021 5) of the above employees participated in the Defined Contribuiion Pensilin Scheines. Contribuiions to the employee pension schemes for the year totslled £3.70012021 £1,852). No employee received emoluments of more thali £60.000 during the year. The ioral employee benefits of the key management personnel of the charity were £66,024 {2021- £35,440). Page 18
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 8 Taxation The charity is a registered charity and is therefore exempt from taxation. 9 Tangible fixed assets Ceneral equipment Computer equipment A2rieultural equipment Total Cost At l April 2021 Additions 7.540 6.944 950 18,528 7,960 i3.012 8,910 At 31 March 2022 7,540 7,894 26,488 41,9?2 Depreciation At l April 2021 Charge for the year 6,004 768 6.944 317 18,528 31,476 1,085 At 31 March 2022 6,772 7,261 18,528 32.561 Net book value At 31 March 2022 768 6i3 7.960 9,361 At 31 March 2021 10 Debtors 2022 2021 Trade debtors Prepayments Other debtot5 28,424 3,012 3.309 3.888 8,484 15,681 Page 19
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 I I Creditors.. amounts falling due within one year 2022 2021 Trade creditors Other loans Other taxation and social security Other creditors Accruals 3,711 2,56i 2,384 844 2,471 089 1,356 680 4,101 8.227 10,572 12 Fees payable to independent examiner During the period. the fees payable (excluding VAT) to the charity's independent examiner Commut]ity Accouiitin¥ Plu5 are aiialy5ed as folloM's-. 2022 2021 Independent examinatiot] Othcr fillancial %ervices 1,100 374 858 1,988 1,474 13 Trustees remuneration and expenses No trustees, nor any persojis connected with them, have received any retnuneration from the charity during the year. No trnstees have received ai)y ieimbursed expenses or any other bei)efits from the Charity duiing the year. 14 Related party transactions There were no related party transactions in the year. Page 20
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 IS Charity 5tatUS The charity is a company limited by guarai)tee and ¢onsequei)tly does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 16 Analysis of net a55et5 between fund5 Unrestrieted 2022 Total funds General Re$trieted Tangible fixed a55et5 cU£t assets 9,361 76,156 {8,297} 9,361 180,?88 18,2?7 104,132 Cu)Tent liabilities Total net assets 77,290 104.132 181,422 Vnrestri¢¢ed 2021 Total funds General Restricted Tangible fixed assets Current assets 1,536 44,898 {8.188} 1,536 157,710 (10,572} 112.812 12,384) Current liabilities Total net assets 38,246 110,428 148,674 Page21
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 17 Fund5 Balance at 31 March 2022 Bk)lan¢e at I April 2021 Ineoming resources Resourees expcnded Tri)nsfers Unrestricted funds General Unrestricted 10,670 60,059 {20,836) 8.910 58,80i De3igvaled Major Oak Woodland Festival Contingency Basseilaw. District Council 1,000 20,000 6,576 3,000 (3,983) 17 20,000 2.102 6.250 (10,724) 27,576 9,250 {14,707 Total unre51ricted funds 69,309 {35,543 8,910 80,922 Restricted funds 'Support sherwood, Rural Payments Agency HLF WW2 'PLANT Project The Greeii Recovery Challeiige Fuiid Miner2Major Heritage Trees NHLF Covid 19 Trees for Climate Trees Nursery Groundwork 1,592 500 2,836 20,123 669 3,618 36,250 2,250 (4,118) (26,788) (425) 12,298 19,698 81,771 97 200 3,309 73,647 3,556 1103,672) (2.636) (200) (26,759) (23) (150) (950) 50,796 1,017 23,450 21,449 1.125 {7,960) 13,466 975 Total restriettd funds 110,428 163,764 1164,782) {8,9101 100,500 Total funds 148,674 233,073 I?00,i25) 181,422 The transfers to the General fui)d represents the net book value of fixed assets, the use of which is not subject to any restriction. Page 22
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 Bulance at 31 March 2021 Balance at I April 2020 Incoming resources Resourees expended Transfers UThrestrieted funds General Unrestricted 9.244 34,5ii (41,107) 8.000 10,670 De.Fignfjled Major Oak Woodland Festival Contingen¢y Portland College BasserIa. District Council 1,000 1,000 20,000 20,000 796 2,401 (796) (8,325) 12,500 6.576 23,197 13,500 27,576 Total unrestricted funds 48,033 {50,228 8,000 38,246 Restricted 'Support Sherwood, Rural Payments Agency HLF WW2 1,160 505 444 6,987 27,990 (12) (6,992) {17.156) (4,335) (77) 1,592 500 2,836 (8,0001 Nineveh Trust 'PLANT Project The Green Recovery Challenge Fund Sherwood New Shoots Miner2Major Heritage Trees Thomas Farr Trust NHLF Covid 19 Trees for Climk)te 4,335 20,200 20,12i 91,250 (9.479) (434) (1,123) (2,319) (9,800) 81,771 434 1,220 97 2,319 i 0,000 3,309 200 3,309 Total restricted funds 8,755 161,400 {51,727) {8.0001 110,428 Total funds 41,196 209,4i3 1101,955) 148,674 Page 2i
The Shenvood Forest Trust otes to the Financial Statements for the Year Ended 31 March 2022 The specific putposes for which the funds are to be applied are as follows.. DeSIated funds Major Oak Woodland Festival- grant fiinding to support our work on the annual event,. Contingency- re5etTres set aside for core einerueiicy purposes., Portlaiid College- consultancy work and tree plantingj scheine at the College,. Robin Hood Festival gFrant funding from Miner to Major {M2M) to provide a Robin Hood encampment at the Festival; Bassetlaw District Council grant nding for Mayflower 400 Legacy Oaks project and the Bassetlaw Afforestation Prospectus. Restricted funds Support ShetTrvood - grant fundin¥ to 5UPPOrt any of our conservatioi) activities; Rural Payments Agency {GOS) - gFrant funding for a 5 year project hosted by the Trust to support Sherw'ood landowners with advice, giiidance., NHLF WW2 - Naiional Heritsge Lottery Fund major grant for the delivery of the WW2 Spirit of Wanime Sherwood projeei.. Nineveh Trust- grant award to assist with greenleonservation works with local sehool'slcommunity groups: 'PLANT' Project fuiid - SFT tree planting and community tree nursery project,"The Green Recovery Challenge Fund post Covid 19 DefrallqLHF ei)vironineiital recovery fund; Shenvood New. Shoots - grant award from TESCO flir SheN'oLxI talks to scholils and community groups and tree planiing,. Miner2Major Heritage Trees- delivery of l O community heritage tree prL)jecrs funded through M2M; Thomas Farr Trust- grani aw'ard for tree planiing projeci with Mansfield schools: NLHF Covid 19- post Covid 19 emergency recovery fund: Trees for Climate - Defra funded i)ational Iree planiing prligramme w'here SFT is a partner of the Greenwood Community Forest (NCC). Tree Nursery - sianed as part of the Green Recovery Challenge Fund and links into the SFT ambition to CL)Ilect the seeds of Sherwood tree species with the help of schools, community groups, local businesses. who then give the seeds io the SFT to plant and propagate into young saplings for planiing out in the follow'ing year(s). The Trust has a partnership agreement wilh Feel Good Gardens where we are insralling a new polyiunnel io grow the seeds, stsrting this aiitumn. Groundwork - Funding from f¢sco for Heath R¢storation 'Ork. Page 24