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 PU￿05£, 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 land0￿merS, 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 do￿￿lOaded
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
lockdo￿nS 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 lockdo￿7 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 mal￿gement - advice to land 0￿￿ers, 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 I￿lth 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 p￿pared ￿ a¢¢ordanc¢ with rhe provisions in the Cornpanies A¢1
2006 [elat￿g to small eornpanie5.
Compatty law [Equi￿5 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$¢losed #lld expliliD¢d ill th¢ fillancial slatcmcnts" and
prep8r¢ th¢ finan¢ial 8tat¢m¢nts on the going ¢otLcern basis unless it is inappropriate to presumc that the
charitablc company wl1 I continue in busincss.
The In￿1¢¢$ 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 CoMp￿Y 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 She￿ood 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 ca￿led 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 f*lllng due wlthln one ye*r
8,227)
10,572
lyd current assets
172,061
147,138
￿et￿ets
181,422
148,674
of tht tharhy:
Restricted ineome funds
Restricted funds
17
100,500
110.428
u￿restrICted 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 defe￿ed, 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 r￿e1vable$.
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..
DeSI￿ated 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