Company registratioii number.. 05639227 Charity regislralion numb¢T- 1119614 The Sherwood Forest Trust (A company limited by guarantee) Annual Report and Financial Staiemenls for the Year Ended 31 Mah 2025 Coinmuiiity Accounting Plus Units l & 2 North Wesl 41 Talbot Street Nottiiigliam NGI 5GL
The Sherivood Forest Trust Contenls Reference and Administrative Delails Trustee5' Report 2to7 Independent Examinels Report Sraiement of Financial Activities 91010 Balance Sheei Notes to the Financial Stsiements 12to23
The Sherwood Forest Trust Reference and Administralive Details Trustees Erin Baker Robert Bealby, Treasurer Scott Carlton Carl CorJ)ish, V Ac¢ Chair Loulse Hackett Timothy Hill Andy Jeffcutt, Chhir Dan Motlishaw, Secretary John Peck Jennifer Tiirner Senior Management Team Matt Smiih, Conservation Manager Helen Sullivan, CEO Charity Registration Number 1119614 Company Registration Nujnber 05639227 Registered Office 516 Church Fann Business Centre Mansfield Road Edwinstowe Mansfield NOttinghnShire NG219NJ Independent ExamRner John O'Brien, employee of Coinmunity Accounting Plus Units l & 2 North West 41 Talbot Street Nortingham NGI 5GL Page I
The Shenvood Forest Trust Trustees, Report The trustees, who are directors for the purposes of company law, prcs¢nt the annual report togetheT with the financial slatements of the charitable company for the year ended 31 March 2025. Trustees and offficers The trustees and oltr$ serving during the year and Since the year end w'ere as folloivs.. Trustees.. Erin Baker Robert Bealby, Treasurer Scolt Carllon Carl Cornish, Vice ChaiT Louise Hackett Timothy Hill Andy Jeffcutt. Chair Dali Mottishaw, Secretary John Peck Jennifer TurncT Henry Farr (resigT]ed 20 May 2024} Andrew Statham (resign¢d 30 November 2024) Strueture, governance and management Nature ofEovér•ilng docunienl The charity is a company limited by guarantee and registercd charity. It is operated under the rules of its nienioranduni and arti¢les of association dated 31 SÉ October 2005 and Inosl recently amended on 22nd October 2009. Jt has no share capital and the liability of each member in the event of winding-up is lirnited to £ l. Re¢rulDiienÉ ttnd oppoinlntent of Iru51ees Truslees are elected at thc AGM based on their appropriate skills and experience and in accordance with the Trust's articles of a5so¢iatioii. Representation may b¢ from envtronm¢ntal organisations, local businesses and the community. Page 2
The Shenvood Forest Trust Trustees, Report Objectives and aclivities Objects und aiii i) FOT the education. enjoyment and benefit of the public, to preserve, prolecl and re-eslabltsh ihe flora and fauna of the county of Nottingliamshire and adjoining distrtct ol Bolsover; ii) For the education, enjoyinenl and beiiefit of the public. to preserve, prolecl. resloTe and r¢creal¢ buildings (includini7 any buildings as defined in S¢¢lAon 336(a) of the Town and Counlry Planning Aci 1990), siles or structures which are ancillary to or associated with the objects of preserving. protecting. restoring and re-establishing the flora and fauna of the aforesaid area. iii) To advance the public educarion in all matters concerning such flora, fauna, buildings: sites and slruclures= iv) To provide for public recreation in the iT]tere5ts of social welfare,. v) To acquire by purchase, gift or otl)envise, land, sites, structures or buildings (Including any buildings as defined in Section 336(1) of Ihe Tow) and Country Planning Act 1990) silualed in the aforesaid area, any rights, easements or inleresls therein or thereover, and to hold: maintain and manage the saine for the purposes of the objects set out iii (i), {ii). {'"') and (iv) herein. Objeclive3, &¢rfilegies uctivilie.I Clirnate change mitigati(Jn support activities to help miligate climate change, including tree plantftnglwoodland creation. Landscape inanagement - preserving, restoring and conserving valuable habitats. Culture & lieritage - supporting the crealion of Improved heritage experiences. Education & oulreach working with schools and universilies to Provide good learning opportunitie5 for children and young people. Health & wellbeing providing opportunities for iiature connection, in¢luding giiided nalur¢ walk5, leclure series and hands on conservatton efforis to improve hedlih and wellbeing.
The Sherwood Forest Trust Trustees, Report Puhlic heHefil Climaie Change Mitigation By supporting activities sueli as tree planling and woodland creation, we help to capture cirbon, reduce greenhousc gases, and biiild resilience against climate change. These efforts not only enhance local biodivcrsity but also conlribute to a hcalthier environment for everyonc. Landscape Management Preserving, restoring, and conserving valuable habitats ensures the survival of rare and threatened species, mainlafftns ecosystem seryiccs (Ilke clean air and water).. and safeguards the natural brauly of the landscape for publlc enjoyment and education. Culture & Heritage Supporting improved heritage expeTiences Connects people with the rich history and legends of Sherwood Forest. This fosl¢rs Community pride. encoungcs tourism, and helps preserve important cultural assels for fulvre generations. Edu¢ation & Outrea¢h Working with schools and universities provide5 highvalIty leaming opportunities for children and young people. These iniliatlVe5 inspire the next generatioii of environmental stewards and increase public understanding of nature and heritage. Health & Wellbeing Providing opportunities for nk)lure connectio5ch as guided walks, lecture series, and hands-on conservation-improves pliysical and mental health: Combats social isolation. and stren¥ihens community bonds through shared activities in natural settings. The Irusle¢s ¢onfinn that ihey Iiave Complied wilh the requiremenis of s¢¢tion 17 of the Charities Acl 2011 to have due regard to Ihe public benefit guidance published by the Charity Commission for England and Wales. A¢hievements and perlorman¢¢ Over the past year, the Shenvood Foresi Trust has continued to advance our mission of conserving and celebrdting the ancient woodlands and rich heritage of Sherwood Forest. Our efforts have focused on community engagement, tree planting, heaihland restoration, and educational initiatives. Nature Conservation and Restoration Sherwood Seedbank & Tree Nursery. Thi5 project preserves native tree sp£cics to ensure ihe resilience and biodiversity of ShErwood's woodlands for futUTe gencrations. This year, w¢ liave donated over 2,000 trees, all grown froin sccd harvested locally within the province. These trees havc bctn planted in a variety of projccts acros5 the Sherwood Forest National C.haTaCtei Area. Trees Planting: In parti)ership with Greenwood Coiwnunity Forest througli Trees tor Climate/Defrd fwldin we brought togeiher community groups and businesses, who colleLtiVLly planted more thai) 47,000 IieLs aLIOSS Nottin¥hamsliire. This effort will cuntribule to clitnate change niitl¥¢ilion and habitat restoration, while a150 fostering collaborarion arnong a diverse range of communlty groups. Hcaihl&nd Resloration.. Witl) support from Sevem Trent, our "Shenvood's Forgotteii Heaths" projecl restored an addiiional 40 hectares olh¢athland, reintroducing nativc flora and supporting wildlif¢ diversity. Page 4
The Sherwood Forest Trust Trustees, Report Communi¢v Engagement and Education Wo(Klland Festival at Tlioresby Park.. Despile wet and windy weather: we w'elcoined around 500 attendees to oiir Ital festival. The evenl aimed to connecl peoplc of 811 ages M'ith the ivoiider of woodlands and featiired traditional crafts, forest school activities: and live demonstrations-fostering a deeper community connection to iiature. Intemational Bat Night-. We hosted educational walks and talks to raise awareness about local bat specles and their ecological importaiice. Over 80 attendees took part, and we received excellent feedback. Volunle¢r Iiivolvement.. Our volunleer programme grew sigiiifi¥antly. wilh n]ore than 200 iiidividuals contribuling over 4,000 hours lo conservation projeLts. events, and outrea¢li-underscoTing the commuilily's vilal role in oiir mission. Heritage and CultUTal Projerls Spirit of Wartime Sl)envood'. Concluding in 2024, this four-year programme successfull! combined archival research, community storytelling, immersive public programming, and educational outreacli. Tl)e project preserved eriticol local ivartime narratives: fnstered community coliesion, and boosted regional culturnl lourisin. Key achiei'ements in¢lude: Engagtng 7:000+ attendees at public events Delivering immersive school programmes Training volunteer liistorians Partnering with over 20 Ivcal organisalions The legacy of this programme continues through the 1940s-Ihemed event we proudly support with ongoing volunteer involvement. Parliament Oak Preservation.. We advanced efforts lo protect and interpret the histOTi¢ Parliament Oak. enhan¢ing public understanding of ils significance within Sherwood's culmral and political history. Organisa¢ion*l Development runding and Pirtner5hips.- We secured new funding from the National Lottery Heritage Fund io expand the Sh¢nvood's Forgottei) Heathlands ii)itiative. 'lThis support ¢nable$ a broadeT programme of education and outreach, and the engagement of new volunleer'networks in the conservation of thes¢ CTltical habitats. We have also deepened partnerships with local autliorilies, businesses, schools, and conservatioi) groups. extending our reaLh and iinpacl, Strale¥y & Leadership.. We appointed a new Chief Execurtve, ensuring a sn)ooth leadership transilion throu&h robust succession planning. We iiow look forward 10 shaping a new Slraiegic vision for the Trusi: building oi) recent successes and evolving under fresh leadership. Looking Ahead We are proud of oiir accomplishments thi5 year and remain deeply. cornmirted to protecting Slie00d Forest's natural and cultural heritage. Our ongotng work and fiiture plans aim to.. Deepen communiry involvement by recruiling at least 50 inore volunteers to participate in conservation and citj2en science projects related to OIIT heathland restoration iiiitiatives, iliereby improving biodiversity and enhancing commui)ity wellbeing through nature connection. Extend oiir network of approved 5e¢d liarvesling sites, secure Plant Healthy certification, and obtaiii funding to scale operlilions al our seed batth and ITee iiursery. with ihe goal of iiicreasing growing capacity by A))or¢ Ihan 40fj/0 year oil year. Preserve the legacy of Sherw'ood Forest for generations lo conie ihrougyh oral history projects. community arts, and related activities. Page 5
The Sherwood For¢st Trust Trustees, Reporl Financial review We are 5atisfTr¢d with the movement of fund balances carried over for our activities in the year ahead. Policy on reserves Our reserves policy is to maintain sufft¢ient unrestricled ndS to ensure the ongoing managejnent, protection, and enhancement of Sherwood Forest's natural and cultural heritsge. We aim lo hold rv5¢rves equivalent to three months of core operating costs. This level is reviewcd annually lo ensure we ¢an'. Meet our ongoing management commitments and legal obligations Resw>nd to unforeseen emergencies or urgent conservation needs Provide financial slability to support long-tem] planning and delivery of our obj¢ctive5 The reserves will not be used for regular operational expendilure but may be drawn upon in ¢x¢eptional circumslances, with any use reported to and approved by the trustees. The policy is reviewed annually is phrt of our financial planning process to ensure it remains appropriale for the organisalion's needs and risks. Acknowledgements We would like to offer a special Ihank you to our supporters at Linney, a locally based business whose staff have helped to donate £20,000 to the Shenvood Forest Trust and plant more than 20.000 trees in the area. With thanks also to the brilliant t¢ams at Mansfield Building Society, KPMG, Minster FB and DHL who have supported our Iree planting efforts this year. Principal risks and uncerlainti¢$ We actively manage fiDancial risks, but the current fundlng climale pr¢senls siwiificaiit uncertainty regarding the availability uT]d conlinuily of future and ongoing funding. The main fjnancial risks we face include= Dependence on external grants donations.. Many of OUT projects rely on time-limited or project-specific funding, making long-term planning challenging if new funding sources are not secured. Rising operational costs.. Inflation and iii¢reased costs for materials, staff, and cornpliance caD impact our ability to deliver projects within budget. Changing policy and regulatory laiidscape: Shifts in governmenr priorities or regulations may affect the availability of funding for environmental and heritage projects. N8re-related and climate risks.. Environmental events such as storn)s, drought, disease outbreaks: or habitat loss can increase costs or disrupt planned aclivities, reqiiiring us to divert resources unexpertedly. Economic uncertainty: Broader economic conditions may reduce the willingness or ability, of donors, sponsor5, and public bodies to provide financial support. We regularly review and updaie oui. risk management processes to ensure we Can respond proactively to these eliallenges and mainlain financial resilience. Page 6
The Shernood Forest Trust Trustees, Report Stalement of Responsibilities The trustees (who are also the directors of The Sherwood Forest Trnst for the purposes of company law) are responsible for preparing tlie Irustees, report and the financial stal¢iiients ii) accordance with applicabl¥ law aiid United Kingdom Accounting Standards (lJnited Kingdom Generall). Accepted Accountiiig Prautice). iiicluding FRS 102 "Tile Financial Reporting Siandard applicable in the UK and Republic of Ireland" The r¥purl accounts have beeii prepared in accordance with ihe provisions in the Companies Act 2006 relaling to srnall companies. Compdny law requires the trustees to prepare financial statements for each financial )'ear. Under company law the truslees niust not approve the financial stalements unless diey are satisfied thal they give a true and fair view of the slate of affairs of the chaTltable coinpany and of the incoming resou¢5 and application of resources, including its in¢ome and expenditure, of the charitable company for that period. In preparing ihese fmancial statements, the trustees are required lo.. select suitable accounting policies and apply them ¢onsistently,' observe the methods 8nd principles in Ihe Charities SORP. Inake judgem¢nis and ¢slimat¥s Ihal ar¢ i¢a50nable and prudent- state M'hether appli¢able accounting slandards: ¢omprising FRS 102 have been followed: siibject to any material departures disclosed and explained in the financial staterneiits- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will conlinue in business. I"he trustees are responsible for ke.eping proper accounting records thal cali disclose with reasonable accuTacy al any ttme the linancial posiliun of the ChIlable company dnd cnable thLm to LnsurL that thc financial statements coinpl}' with tlie Compaiiies Act 2006. Tliey are also respoilsible for safeguarding the assets of the charitable Loinpany and heiice for taking reasonable steps for the prevention and deleclion of fraud and other irregularitiL. The Irustees are responsible for the mainlenance and integrity ol Ihe corporale and finanLial infornialion included oil the chaiitable coinpany's website. Legislation goveming tlie preparation and disseminalion of financial slatem¢nls rnay differ from legislation in olher jurisdictions. Small companies provision statement This report has been prepared in accordance with the srnall companies regime under ihe Companies Act 2006. The onnual report was pproved by the trustees of the charity on 4 August 2025 and signed on its behalf by: Andy J¥ffcull Trustee Page 7
The Sherwood Forest Trust Independent Examiner's Report to the Iruslees of The Shenvood Forest Trust ('the Company,) Independenl examiner's report to the trustees of The Sherwood Forest Trust ('Ihe Company,) I report lu the charity trustees on my examination of the accounls of the company foT the year ended 31 March 2025. Responsibililics and b8sis of report As the charity's trustees of the Company (and also its directors for the purposes of coinpany law) you are responsible tor the preparation of the accounls in accoTdance with the requirements of the Compaiiies Act 2006 ('the 2006 Act')- Having satisfied myself that thc accounts of the Company are nol ILquired to be audited undeT Part 16 of the 2006 Act and are eligiblc for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charllies Act 2011 ('Ihe 2011 Act,). In carrying out my examination I have followed the Direction5 gTv¢n by the Charity C.oinmission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the C.ompany's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 201 l Act. I confim) that l am qualified to undertake the examinalion because l am 3 member and Fellow of the Association of Charity independent Exarniners, which is one of the lisled bodies. J have completed my examination. l Confirn) that no matters have come ro my attention in connection with the examination giving me cause to believ¢ that in any Inaterial respect.. accounting records were not kept in respect of the Company as required by section 386 of Ihe 21)06 Act- or 2. the accounts do not accord with tliose records,. or the accounts do not comply with the accounlin¥ requirements of section 396 of th¢ 2006 Acl other than any requirement ihat the accounts give a 'lrue and faiv view which is not a matter Considered as part of an independent examination: or 4. the accounts have not been PTepared in accordance with the methods and principles of the Staiement of Recommended Practice for accounling and reporting by charities lapplicable to charities preparing their accounls in accordance with the Financial Reportin¥ Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have 110 concern5 and havc come acros5 no other Matte in conncclion with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounis to be reached. Jolin O'Brien MSC, FAJA, FCIE, eTrJployee of Community Accounting Plus Fellow of the Association of Charity Indcpcnd¢nt Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 4 August 2025 Page 8
The Shenvood Forest Trust Statement of Financial Activities for the Year Ended 31 March 2025 {Including lllcomc and Fxpcnditure Accvunt and StatLmint vf Total Rc¢ognASL'd Gains and Losses) (As rcstatcd) Total 2024 Total 2025 Unrestricl¢d R¢5tri¢ted Note In¢om¢ and Endowments from: Donations #nd le¥acies Charitable activAtAes 12.929 14,559 12,929 J66,107 25,336 360,443 351,548 Total income 27.488 351,548 379,036 385,779 Expendilure on: Charitable aclivilies (91,995) (246,106) (338,101) (30J,047) Tolal expenditure (9 1.995) (246,106) (338.101) (30J,047) Net (expenditure)lincome Transfers between fi]nds (64.507} 2,548 105,442 {2.548) 40,935 82.732 Net movement in funds (61,959) 102,894 40,935 82,732 Reconriliation of funds Total fuT]ds brought fon¥ard 167.008 89.724 256,7)2 174.000 Total funds catTied forw?rd 17 105,049 192,618 297,667 256,732 All of the charity's aelivitie8 derive trom continuing operations during the abov¢ ttvo periods. The fiinds br¢akdowi for tlie period is shown in note 17. The notes on pages 12 to 2) form an integrdl part of these financial stalerncnls. Page 9
The Sherwood Forest Trust Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for ¢omparative purposes Unreslricted Restricted Total funds funds 2024 £ (As restated) Note Income and Endowments from: Donalions and legacies Charitable activities 25,336 25,336 360,443 325,371 Total income 60.408 325,371 385,779 Expenditure on: Charitable activities (24,193) (278,854) (30J,047) Total expendilure (24,193) (278,854) (30J,047) Net income Transfers between funds 46,517 (40,2J l) 82,732 40,231 Nei movement in funds 76,446 6,286 Retonciliation of funds Total funds brought forward 101.780 72,220 174,000 Total funds carried fonvard 17 178,226 78,506 256,732 The nol¢s on pageg 12 10 23 forni an integral parl of these financial siatements. Page 10
The She00d Forest Trust {RegistTation number: 05639227) Balance Sheet as at 31 March 2025 2025 2024 £ (As restated) Note Fix¢d a5SCts Tangible assets 19,060 Current assets Debtors 10 2,923 291.645 16.908 225,450 Casli at bank aiid ii) hai)d 294,568 242.358 Creditors.. Amounts fallin% due within one year {15,961) {15,968) Iyet current asset5 278.607 226.390 N¢t 25sels 297.667 256,7)2 Fund5 of the charity: Restrirted income fund5 Restricted funds 17 192,618 ¥9,724 Unrestricted income funds Unrestricted funds 105.049 167,008 Total funds 17 297,667 256,732 For the financial year ending J l March 2025 the cliarity was entitled to exemptiot) from audit under seclion 477 of the Coinpaiiies Act 2006 relating to small companies. Direclors, responsibilities-. The menibers liave not required the charity to obtatn an audit of its accounts for the year in question in accordance with section 476: and Tlie direclors acknowledge their responsibilities for complying with the requirements of the Act wilh respect to accounting rccords and thc prepaTation of accounts. These financial statements have been prepared in accordance with the special provisions relating lo conipani¢s subje¢1 io the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 9 to 2) were approved by the trustees, and auihorised for issue on 4 August 2025 and signed on their behalf by: Andy Jeffcutt Trustee T]1¢ not¢s on pag¢s 12 10 2i forn) an int¢grdl part of Ihcse financial statements. Pagell
The Shenvood Forest Trust Notes to Ihe Financial Statements for the Year Ended 31 Mareh 2025 l Accounting policies Summary of significant accounting polieies and kev aecounling e5titnates The principal a¢¢ounting policies applied in the preparaiion of these financial statement5 are set out below. These policies have been consistently applied to all ihe years presenled, unless otherwise stated. Statement ofeompllance Tlie financial statcmLnls have been prepared in accordance with Accounting and Reporting by Lharities: Stalement of Recomrnended Practice (applicable lo charities preparing their accounts in accordance with the Fii)ancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) {Charities SORP (FRS 102)). the Financial Rewrting Standaid applicable in the UK and Republic of Ireland (FRS 102) and t]ie CompaniLS Act 2006. Basis of preparation The Sherw'ood Forest Trust meets the definilion of a public benefit entity under FRS 102. Assets and liabililics are initially r¢cognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy nntes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess hether the use of going concern is appropriate i.e. wheth¢r Ih¢r¢ are any material uncertainties related to events ur condilions Ihal may cast significant doubt on the ability of the charity to ontinue as a going concern. The truslees make this assessment in respect of a perlod of one year from the date f approval of the financial statements. Exemption from preparing a Cash flow statement Under the exemption ai'ailable to smaller charilies the Board of TSte¢S has chosen not to include a Stalemenl of c.ash Flows within the financial statements. Income and endowment5 Voluntary income iiicluding donations: gifts, legacies and grants ihal provide core fundiiig or are of 4 general nature is recoLFnised M'hen thL Lhiirily has entiilemenl to the income, it is probable that the incorne will be received and the amount can be measured wilh sufticient reliabillty. Donthlions and legiiciL% Donations are recognised wheii the charity has been nolified ill writing of both tlie amount and seltlement date. In IhL ¥venl thal a donatioii is subject to Londilions thal require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until Liiher those conditions are fiEIIy met, or the fulfilrnent of thosc conditions is wholly within the Control of the charity and it is probable ihat thes¢ conditions will be fulfilled in the reporting period. Granls receivahle Grants are r¢¢ognised when the charity has an entiilement to the funds and any conditions linked to the granls have beeii mei. WThere perforniance condition5 are atta¢hed to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Page 12
Th¢ Shenvood Forest Trust Iyotes to the Financial Sttements for the Year Ended 31 March 2025 Expenditure All expenditure is recognised once Ihere is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amoui)t can be measured reliably. All costs are allocated to tl)e applicable expeiiditure heading that aggreaate similar cosis lo iliat category. Wherr Lusts LunJ]ol bL dirLLily dltributed lo particul1 headingws they have been allocaled on a bSiS LunsistLnt wii]i the USL of rLSDurces. willi central slaff costs allocated on tlie basis of tiine speni. and depreciation charges allocated on the portion of ihe asset's use. Oiher support costs are allocated bascd on thc sprcad ol slalT costs. Chfiriéfihle activilie.f Charilable expendilure Lomprises thosL LOSts incurrLd by ihL Lharily in the delivery of its dctiiiities and services for its bcncficiarics. It includes both cost5 thal can be allocated directly to such activitie5 and tliose costs of an indirect nature necessary to support them. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset r¢¢eived 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 which ihe related costs are recognised. Grants relating lo assets are recognised over the expected usefvl life of the asset. Where part of a grant relatii)g to ai) asset is deferred, il is recognised as deferred income. Taxalion The charity is considered to pass the tests sel out in Paragraph I Schedule 6 of the Finance Act 2010 and Iherefore it meets the definition of a ¢hariiable company for UK corporation tax purposes. AccoTdAngly: the charity is poientially exempt from taxalion in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Tayatioii of Chargeable Gains A¢r 1992, to the extent that such incoine or gains are applied exclusivelv to chariiable purposes. Tangible fixed osset$ Individual fixed assets costing £ 1,000.00 or niore are iiiitially recorded at cost, less any subsequeni accumulated depreciation and subsequent accumulated impairnient losses. Depreciation and xmortisation Depreciation is provided on tanoible f]xed assets so as to write off the cost OT valuation, less any estimated residual value. over their expected useful economic life as follow's.. Asset class Agriculiural eqiiipment Computer equipn)ent General equipment Dcprcciation method and rate 250/0 slraiglit line 33Q/o Straight line 200/0 Straighi linc Trade debtor5 Trade debtor8 are amounts due from customers foi merchandise sold or services perforn]ed in the ordinary course of business. Trade debtors are recognised initially at tl)e transactioii price. They are subseqiiently measured al amortised cost using the effective interest Inethod: less provision for impaimienl. A provision for the impaim)enl of trade debiors is established ivlien tliere is objective evidence that the charity will not be able to collect all amounts due a¢cording to the original ternis of the receivables. Page IJ
The Sherwood Forest Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Cash and cash equivalent5 Cash and cash equivalents comprise cash on hand and call deposits, and other 5hort-tem highly liquid inVf5tmenls that are readily convertible to a knowii amount ol cash and are subject to ali insigniticant risk of change iii value. Trade creditDr5 Trade creditors are obligations LO pay for goods or services that have been acquired in the ordinary course of business from suppliers. A¢¢ounls payable are classified as current liabilities if the charity does noi have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement foT at least twelve months after the reporting date, they are presenled as nOn-cu¢nt liabilities. Trade creditors are recognised initially al th¢ trnnsa¢tion price and subsequentl). measured al amortised cost uslng the effectiv¢ interest method. Fund structure Unrestricted income funds are genera] funds that are available for use at tlie trustees, discretion in furtherance of the objectives of the charity. Designated funds are unTe5triLtcd funds sel aside for specific purposes at the discretion of the trnstees. Reslricted income funds ur¢ those grants for use in a partlLular area or for specific PUTposes. tlie use of which is restricted to that area OT purpose. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of ihe charity. Pensioii costs Charges in Ihe Statement of Financial Activities represent the contributions payable by the charity during the year. Page 14
The Shernood Forest Trust Notes to Ihe Financial Statements for the Year Ended 31 March 2025 2 Income from donations 2nd legacies Uiire$tri¢ted funds De5ignateil GenerAI Total 2025 Total 2024 Donations and legacies: Donations from companies, trusls and similar proceeds Donalions from individuals Cjrants, including capital grants. Government grdnls Grhnls from otljer charities 2,552 8.333 2.552 8,398 65 10,296 6,000 9,040 1,979 1,979 65 12,864 25,336 3 Income from ¢haritable activities Unrestricted funds Designated General Reslrlcl¢d funds Total 2025 Total 2024 Earned income Sale ot-merchandise Sundry receipts Griints & di)nalions Sponsorship 810 9,652 347 7,235 17,697 347 37,105 2,398 86 320,854 J44,31 J J44.313 3,750 4,560 9,999 )51,548 366,107 )60,443 Page 15
The Sherwood Forest Trust Notes to the Financial Stalements for the Year Ended 31 March 2025 4 Grants & donations Unrestricted funds Restricted funds Total Heritage. Lottery fund East Midlands Sevem Trent Water Newark & Sherwo(Kl Distri¢t Council Nottinghamsliire County Council Royal Forestry Society Linney Edwinstowe Parish Council Sundry donations 134,190 114,212 48.125 35,189 11,005 134.190 114,212 48,125 35.189 11,005 1,979 2.617 ,979 4,209 1,592 12,929 344,313 )57,242 Page 16
The Sherwood Forest Trust Notes to Ihe Fin#ncial Slatements for the Year Ended 31 March 2025 5 Expenditure on charilable activities Unrestricted fuiids General Restricted funds Total 2025 Total 2024 £ (As restated) 2,825 6,750 Accountaiicj & pa}ToII Archaeology Bank charges Depreciation Education and events Equipment & materials Evaluation Heat & power Insurance IT software & support Marketin¥ & publicity oirical General Premises maintenance L¢gal & professional fee5 Professional setvi¢es Prinllng, postage & stationery Purchases for resale Recrnitment Reni & rates Subscriptions Sundry expenses Travel Training Teleplione Wages: Nl & pensions Volunteer expenses 2.795 2.795 11.282 11.282 1.858 11,296 10,149 33,412 621 2,687 3,043 2,368 3.027 290 1,911 13 45.158 ,150 ,858 5,270 18,033 1,000 2,856 3,094 1,000 2,856 2,766 913 328 320 429 .819 377 314 50 so 6,880 706 442 53,634 48 60,514 754 442 1.164 718 10,356 11,103 1,118 17 1.118 24 4.735 5.100 1,521 206,246 708 399 4,296 5,068 32 1.521 41,689 2,322 1,574 1.57,637 1,292 164,557 699 91,995 246.106 338,101 30J.047 6 Net incomingloutgoing resourees Net incoming resources for the )'ear include: 2025 2024 £ (As restal¢d) 11.296 Depreciation of fixed assets 11,282 Page 17
The Sherwood Forest Trust Iyotes to the Financial Stalements for the Year Fnded 31 March 2025 7 Staff costs The aggTegatc payroll costs were as follows= 2025 2024 Staff eost5 during the year were: Wages and salaTiCS Social se¢urAty cost5 Pension costs 191,301 9,405 5,540 146,419 5.384 5,834 206,246 157,637 The monihly average nuinber of persons (including senior management team) employed by the charity during the year was as follows: 2025 2024 Average number of employees io 10 (2024 - 9) of the above einployees participated in the Defined Contributioii Pension Schemes. Contributions to the employee pensi1 schemes for the year totalled £5,540 (2024- £5,8)4). No employee received emoluments of more ihan £60,000 during the }'ear. The total employee benefits of tlie ke> management personnel of the charity were £59,057 (2024 - £65,941). Page 18
The Shenvood Forest Trust Notes to the Finaneial Statements for the Year Ended 31 March 2025 8 Taxation The charity is a registered charity, and is tl)erefore exempt froin laxation. 9 Tangible fixed assets General equipment CompMt¢r equipment Agricultural equipment Total C05t At l April 2024 8,972 7,894 62,487 At 31 March 2025 8,972 7.894 62.487 Depreciation Al l April 2024 Charge for the year 8.113 286 7.888 33.010 10,990 49,011 11,282 At 31 March 2025 8,399 7,894 44,000 60,293 Net book value Ai J l March 2025 18,487 19,060 At J l Marcl) 2024 859 29,477 30,342 l O Debtors 2025 2024 TrddL dLbiurs Prepayinents 1,440 1.483 15,642 1,266 2,923 16,908 I I Creditors: amounts falling due within one year 2025 2024 Trade creditors Oiher taxalion and social security Other creditors Accruals 9,655 3.826 915 1,572 3,776 1,024 1,638 15,961 15,968 Page 19
The Sherwood Forest Trust Notes to the Financial Stalements for the Year Ended 31 Marcb 2025 12 Fee5 payable to independent examiD¢r During the period, the fees payabl¢ {excluding VAT) to the charity's independent examiner Cornmunity Accounting Plus are analysed as follows-. 2025 2024 Independent examinarion Other financial services 1,365 964 ,310 1,507 2,329 2,817 13 Trustees remuneration and expenses No tristees. nor any persons ¢onne¢ted with them, have received any remuneration from the charity during the year. No tn]stees liave received any reimbursed expenses or any other benefits from the charity during the year. 14 Related party trgnsaetions There ivere no related party transactions in ihe year. 15 Charity status The charity is 4 coinpany limitsd by guarantee and consequently does not have share capilal. Each of the trustees is liable lo conlribute an amount not exceeding £1 iowards the assets of the charity in the evenl of liquidation. 16 Analysis of net assets between funds Unrestrieted 2025 Total funds General Designat Restricted Tangible fixed assets Current assets CutTent liabilitie5 19,060 70,940 (15,961) 19.060 294,568 (15.961) 31.010 192,618 Total net assets 31,010 192,618 297,667 Unrestricted 2024 Total funds General Designaled Restricted Tangible fixed assets Current ass¢ts Current liabilities 30,342 126,965 {15,968) 30,342 242.358 (15.968) 25,670 89,72) Total net assets 141,3)9 25,670 256,732 Page 20
The Sherivood Forest Trust
Notes to the Financial Statemenls for the Year Ended 11 March 2025
17 Funds
Balan¢e ot
31 March
2025
Balance at I
April 2024
Incoming
r¢source5
Resources
expended
Transfers
Unreslricled funds
Geiierftl
Llnresiri¢ted
141,338
(82,710)
(7.452)
Desigiialed
Major Oak Woodland
Festival
Contingency
5.670
20,000
4.625
{9:285)
1,010
30,000
i 0.000
25,670
4,625
{9,285}
10,000
Total unr¢stricted fund5
167,008
27,488
(91,9951
2,548
105,049
Reslrieted funds
Support Slierwood
UK SPF
Royal Foresty Society
HLF WW2
Trees Nursery
St Basseilaw
ST SFH
ST TNG
TFC Mansfield
People's postcode lottery
Miner2M
The Sherwood Forest Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Balanee at I April 2023 Incoming resources Resourtes exp¢nded Balanee at 31 March 2024 £ (As restated) Transfers Unrestrieted funds Generol Unrestricted 77,036 51,073 (27.002) 40,231 141,338 Designoled Major Oak Woodland Festival Coniingency 4,744 20.000 9,3)5 (8,409) 5,670 20,000 24,744 9,335 {8.409) 25.670 Total unrestricted funds 101,780 60,408 (35,411) 40,231 167,008 Restricl¢d Support Sherwood UK SPF Royal Forestry Society HLF WW2 Trees Nursery Si Bass¢tlaw ST SFH ST TNG TFC Mansfield F.C Capital grant M2M People of Sherwood People's post¢od¢ lottery 'PLANT Project The Gr¢¢n Recovery Challenge Fund Miner2Major Heritage Trees Trees for Climate 2,861 480 (9) (45.475) (i,085) (44,800) (4,628) (1,338) (66.014) (894) (1,812) i,332 618 46,093 1,332 44,307 2,203 ,753 12,815 12,318 3.450 7.045 656 7,378 ,627 12.322 13,574 2,112 31.678 1238) 6,116 3,681 90,647 550 (1.627) 650 25,1)00 (2,491) (16,328) (1,856) 1.841 ,672 7,162 (5,306) 3.310 (3,3101 1,017 10,828 6,513 61,190 (5,466) (57,904) 2,064 9,474 {4,640) Total restricted funds 72,220 278,965 (252,100) (9,361) 89,724 Total funds 174,000 339,J73 (287,511) 30,870 256,732 Page 22
The Shernood Forest Trust Notes to the Financial Statements for the Year Ended 31 March 2025 D¢signat¢d (unds MlljoT Oak Wood11< nd Festival - funding to support this annual event: Contingency - reseeS set aside for core emergency purposes. Restricted funds Support Slienvood donations to support our core activities:. UK SPF- 2 year revenue funding for th¢ d¢liv¢ry of the c.ommunity Tree Nursery proje¢l- Royal Forestry Society - Funding for a work based appreiilice. The trainee has iiow successfullv found pei'manent employmeiit based 011 the training received throu tl)is scheine: HLF WW2 - National Heritage Lotierv Fund major grant for tlie delivery of the WW2 Spirit of Wartime Sherwood Project. Trees Nursery - ongoing development fundiT)g for Ihe seed bank and tree nursery. St Basseilaw - funding under Seveni Trenl's B(iost for Biodiversity fund for tree planting within Bassetlaw; ST SFH ShenvoiKI's Forgotteii Heaihlands a major three year project to restore and re-create Iieathlands tlirougliout Shenv(Hld,. ST TNG funding under Severn Trenl's Boost for Biodiversity fund to improve habitals at The Neutral Ground: a specific area witliiii Sherwood,. TFC Mansfield addilional funding under the Trees for Cliinate to support community tree plantiiig and habilat improvemenl proj¢cls across the district ot Mansfield,. F.C Capital grant- For¢stry Commissioii capital granl,. M2M People of SheOod Miner2Major Heritage Trees lunded throug,h M2M- Pegple's Postcode Lottery - funding to support our comrnunity led projects for planting of trees, conserving lieathland and measures to improve green spaces in local communiiies:. 'PLANT' Project - The PLANT Project has an ambitioii to plant 10,000 new trees within Shenwood Forest, within the iiext three years,. The Greeii Recovery c.hallenge Fund to siipport environmental conservation activities in response to the COVID-19 P<indemic, M'iih a particular focus on lowland heathland, Ire¢s, and people within the Sherwood Forest C.liaracter Area: Miner2Major Heritage I"rees - part of ilie wider Miner2Major Landscape Partnership Scheme supported by The National Lottery, Heritage Fund; Trees for Climate Defra fvnded project to deliver large-scale tree planting and woodland creation to address climaie change. enhance biodiversity, and benefit IoLal communities. delivery of communily herilage tree projeLIs Page 2i