Registèred Company no. 06252763 (England and Wates) Regisiered Charity no. 1122314 Forest of Avon Trust (A company limited by guarantee) Audited Financial Statements For the Year Ended 31 March 2024 Forest of Avon Trust Cont9nl8 For the year ended 31 March 2024 R8ference and admlnlstratlvg details Trustees, annual retM)rt,,................ ................................. Independent auditor's report Statament of financial activitles Balancesheei .......,,.... 12 Statement of cash flows..... .,,........................................... . . ....................................,,,........,.,........ 13 Nots8 to tha financial statamants 14 Forpst of Avon Trust Reference and admlnlstrallve detalls Chalr Alistsr Rankin8 Trustees Robert Bornays OBE DL Prof8ssor Sara Blackmore Christopher Bloor Gi188 Clarko CBE DL Charles Davtes Famela Gikler Nigg1 Howe Professor Mathew Jones James Mayer Androw McLaLKJhlin senlor Management Team A￿X Stone - Ch￿f Executive Offlcer David Taylor- Chlof Flnanclal Officer from 20 M￿ch 2023 Principal offica Studio 3 Utlllty Housa 3 York Court Upper York Street Brfstol BS2 8QF Reglstered olflce Bath House 6-8 Bath street Bristol BS16HL Company number 06252763 (England and Wale8) Charity number 1122814 Bankers Natwest 8 South Parade Chew Magna BS40 8SG Trfodos Bank Deanery Road Bristol BS15AS NatlonwKIg Bulkling Soci Kings Paik Road Moulton Park Northampton NN3 6NW Audiiors Haines Watts (Western) Llmlted Chartered Accountants and Statutory Audltors Bath House 6.8 Bath Street Bristol B816HL Forest of Avon Trust REPORT OF THE TRUSTEES The Trustees, who are also dlrector8 of th8 charity for th@ purpose of the Companias Act 2006, ar8 pl8a8ed to pr8sent their reFort and financial statements for tho year 9nded 31 March 2024. Reference and admlnlstrativo Information set out on page 1 forms pert of thls reFXrt. The flnancial statements comply with the M8morandutTr and Articles of Association and the 8talgm8nt of Fiécomfnended Practice Accounting and Reporting by Charities akylicablo to charftios proparing thair accounts in accordanca with th& Financial Reporting Standard applicable in thg UK and Republlc of Ireland (FRS102) (olfectiV9 from January 2019>. STRUCTURE GOVERNANCE AND MANAGEMETrrr Govemlng document Th8 charity Is controlled by It8 M8morandum and Articles of Associaiion, and is a company limitad by guarantee. as defin8d by the Companies Act 2006. Recrultmeni, appointrnent and iralning of new InvJtees New Trustees are recruit￿ through an open Invitation io ap￿ followed ty an assessment of thelr sultabilty and, If approprlate, Intervl8w by thg Chalr of the Board and a number of other Trustèes with advic8 from the Chief Executlva Olflcèr and Chtef Financial Officer. Successful candidatgs ar& then proposed to th8 full Board of Trustees lor formal appOInt￿er￿t. Staff rpmunergli( Staff are pald accordlng to salary bands agre￿1 by Trust88s on an annual basis. An annual pay ravi6W ' undertaken in April whereby the Trusteos decide on any variation to bands and Chief Officers review individuals pay wllhln those bands whlch Is then subm51t￿l to the Trustee's Flnancial Sub.Gommittee for awroval. The Chalr revlews Chief Ottlcers, pay. Fromotlons ar6 détermln8d ty th8 Chiaf Off Icèrs. Related parlles Nong of the Trustègs recaivg rgmurioratk)n or otlw b￿arlI from their work with tha charity. In th& current year. no other related party transactlons took place wlth thg Trustees. Rlsk management Tho Trustees hava a dlty to identity and review the rtsks to whiGh the charity is oxposed and to en5urg approprfate controls are In place to provkle reasonable assurance agalnst fraud and error. OBJECTIVES AND ACTIVITIES Obiectlves and alms The obj9dS of th8 charfity are to promote for the beneflt of the public the conservatlon, protectfon and improv&m&nt of the physical and natural environment within thg Forest of Avon, in particular by: al providing, conservlng, protectlng arKI improvlng woodlands; bl delfvertng educatlon, tralnlng, volunteerlng and other activities, including the art8, ￿leh engage th8 public In conserving, protacting, improving, LLSirtg and understandlng woodlands and th8 WKler physical and natural environment. and c) Improvlng derelict land and harmful sltes and to provid8 or assist in th8 provislon of facilitie8 in the interest of social welfare for recreatron or other leisure time occupation of the public at larga, in particuEar by maintaining, improving and provlding recrgatlon and lelsurg OPPOrtunltl8s withln tha Forest of Avon. Publlc beneflt statemenl The Trustees confirm that they have fulfllled the statutory requlrement to have due regard to publlc benefit wh&n plannlng and undertaking tha Charft￿$ work. Forest of Avon Trust Charltable activities In 2023124 work focused on: 1. Forest of Avon Plan impl8mentaiion: The Trust progressed the 5-y8ar action plan to include fo(x￿8d landowngr engaggment and opportunity mapping across the Forosi ol Avon and partnerships, Ix)Istered by the Emergency Tr86 Fund enabling the dev&lopm8ni of opportunity maFping, an upcomlng 'Hub' website, olh8r oommunlcations ass8ts and landownar 8ngag8mant. 2. Strategic direction.. Tha Trust developed its own internal strat Vi8ion and values. S. Delivering our programme of expert led Woodland Health and Wèllb&lng actlvlty: The TrL￿t dellvered actlvity programmes for peop18 wlth dgm9ntia and their cargrs, adults with learning dlsablllties and Individuals with montal heatth challenges, continuing the expanded dementia work into South Gloucestershira. 4. Developing three Tree Tochnician role9 working b&￿een Forost of Avon and tho thr88 local unitary authorftlas to develop a wrde range of addStlonal woodland creatlon projects. 5. Land acqulsltlon sltés: The majorlty of thè jolntly owned 45 hectare slte at Grèat Avon Wood has beon planted through Avon N08ds Trees with Forest ol Avon supportlng planting days and plannlng. A further 160 heGtare sita ha8 be9n developed to near Gompletion at Wick Farm, to ba purcha88d by Avon N8 Trees, y to 8nable a d8ar focus on strateglc goals, 6. Trees for Cllmate Planting Programme: The Trust worked wlth unltary authoritles and other partners and landownèrs to preparè, grant fund and SUFV)rt the delivery of yèar four ol a Trees for Cllmato planting programma, and through England's Communty Forèsts securing the programm8 until March 2026. 7. A(fvising on Woodland Managatnent." Tha Trust advis&J landowners, community group8 and counclts o tho benefits of managed woodlands, working with thom tc plan and cost schemes. There wa8 a partKular locus on iha Bath8cape (Bath) are& 8. Orchard management arKI etsmmunrty and schools tralnlng and 8ngag8mént: The Trust began a project dglivgring orchard managament, trainiw volunte&r network building to maintain communKy orchards across the reglon. 9. The Rolreat Community Woodland: The Trust undertook substantiaj maintenancg work and improved aC￿SS and blodÉversity at this site it manages, working with the Coiswolds Wardens. 10, Ovèrscourt Wood: Tho Trust undertook activities and access improvoments in and around Ihto site. completing this FxoJ8Ct in tha summer of 2023. 11. Strengthening and Developing Partnerships". The Trust worked wlth a wide range of partners across a growing number of land8o8p*scale and other projects, building work in strategic woodland areas. 12. Trainlng Outdoor L8ad8rs: TheTrust provided, through associat8s, profèssional training for outdoor leaders so that they can engage the naxt genoration of chlldren and oth8rs In th8 benefits of Forost School and outdoor Iwnlng more wKlety. 13, Communication: Th& Trust grew the proflb of Its objectlves, work, and 89rvic98 on social media andthrough Improvements to the narfigatlon and content of its website. 14. Securing a new offlco In central Brlstol. Volunteers Tha Trust works With a widg rangg of volunts8rs in tre8 planting, supporting health and wellbeing sassions, woodland m8nagement, general con8ervatlon and access Improvements, mapplng/GIS support and other activltle$. Fore$l of Avon Trust ACHIEVEMENTS AND PERFORMANCE The Forest of Avon Trust has successfully completed its sixteenth year as a charity, th6 communlty forest now b8lng over 30 years old. Highlights hav8 Included: l. Belng a key contributor of Trees for Gllmate to the England's Communlty Forest network, This year the n&twork 18 th8 leading woodland creation partn8r across the Natur8 for Cllmat8 Wood18nd Crèation Partnarships. In 2023124, England's Community Forests hava delivarad 1,988 hectar88 ol n8W tre6 and woodland cr8ation. 2. Enabllng thr88 8nty lav81 rol88 for Trae Technlclans and davaloplng thase roles across thè thre& unltary authority areas- BrBtol, Bath and North.East Somersei and South Glouc8st6rshlre. 3. Baing awarded 'Forest of th8 Year, In Jun& 2023 by England's Communily Forests at thelr flrst naiion8J conference since Trees for Climate was launched. Thls had regard to theTrust delÉv8rfng the flrst Flagshlp Project within thg Forest of Avon Plan, lora81 wrformance and team collaLN)ratfon. 4. Progrgsslng Great Avon Wood through partnarshlp with Avon Neots Trees and funders with m08t of the slte planted and many other elements belng dev6loped across th8 year. 5. Starting an orchard woject to enable managemorTt of marTy orchards across the reglon. 6. Sacuring year four funding for England's Communlty Forast'g Treas for Climate grant and SUPFrf)rt programm& and developing a strong pipglina for yoar five. 7. Annual renewal of the Heatth and Wellbelng contracts wlth Brlstol Demenifa Wellbelng Sorvice ancl to dellver th8 Forest Frldays workSng wllh 8rlstol Mgntal Haalth's Reh8J)Illtation Servlce and the commgncomont and continuatlon ol a South Glouceslershire Demantia Wellbeing prolact. 8. Acceleratlng delivery of tho Bathscape Woo(Ilancl Management seNlce across Bath and surrounding areas. 9. Delivering many iFFprovgmgnts to and community engag&ment at Ihg Rotroat Woodland In Upton Chayney, in¢luding ¢reatitTg a new poncj, and su¢￿5¥fUllY completing tho Over8COUrt Woodland proj8Ct in Sl8tonlLyts Green with new bridge, blke racks and m8ny Other features to Improve access and vlsltor experience. 10. Improving the profite of the Forest of Avon partnership and the Trust through engagement in a substantial number and vaciety of events, including Festival of Nature, focused OLrtreach engagement and partnershlp building through the West of England Nature Partnershi), England's community Fore8ts, Great Avon Wood Partnership and many others. 11. InpLthlng more regularly Into natlonal, reglonal and local pollcy. 12. Growing the team with newly funded posts and 8gcuring a ngw offiGe. FINANCIAL REVIEW The Tru$fs maln fundlng sources arg: Trees for Clin￿￿ grant funding, o8Pital and revenue, received as part of Ihe govemmant's Nature for Climate Fund. Grant funding for spwific projectg including from the NHS and Local Authoribes. Grant funding from foundations, other charities and grant making trusts. Public donaiions and buslne8S sp)nsorshlp. This funding onablas tho Trust to me8t its objgctivas by funding cor8 activity and additional projects that result in incr8as8d tre8 and woodLqnd cover, incr8a88d connection of p80ple to the5r local woodlands, actlvlty cons8rvlng, prOte￿Ing and improving woodlands, delivering education, training, volunteering. Foresl of Avon Trusl Thè Trust's principal risks and uncgrtainties are based around.. Reductlon ol Income and ineome-generaiing opportuntties resulting In restriction of th8 Trusfs activty or axcass of expenditure resuEting in financial Gonsiraints and instability. Fallure of projects rosulting in loss of reputallon and futurg incomg opportunrti8S. Loss of staff or key partners. Fl8duction in govemment and wider suFyort for trae planting and wocrfjland activity. The strategy to manage risks Invofves continued review of rlsk reoisters and rlsk asses8ments, strong and transparent Trustee ov8rsight and Trustee involvem&nt In major decisions and expenditure. Thè Trust divetsilies Its Incomè streams to brlng resili8nc8. The Trust a￿1]8$ strict reporting and quality control processesto all project delivery to reduce the rlsk of fallure. Th8 Trust has èxpanded Its iaam to rèduea tha Ilkaly effécts of bss of staff and continue8 to dgv8lop th8 team structure to enable succession p18mning, Total Income for the year wa3 ￿,480.112 {2022123,' £1,032,613). Th& charfty was 8blè to incr9asg itg axpandilurg on charitable activities, resulting in total expendtture of £1 ,437,604 for thé yéar (2022123: £1,085.783). Th8 carry lo￿ard into 2023124 Includes restricted funding of £57,429 (2022123: £nll) and unrestrlcted funds of £460,162 (2022123: £475.9121, glvlng a told fund8 balance of ￿17,591 (2023: £475,912) to bè Carri￿ forward. I n the Trustees, view, the reserves should provldo the charity with adequate financ5al stability and the means to maot its charitable objectives for the foreseeable future. The Trustees propose to malntaln Ihe chaFty's unr8Strlct8d rasarves at a level whlch Is at18ast 9quivafeni to 8ix months, opgratlonal expanditure and have done so having regard to its manner of opwatron of Ilkely funding stréams. Th8 Trust will malntain a mlnlmum unrgstrlct8d funding rgserve 8quivalent to 6 month8, average monthly runnlng costs of £44,OL)O plus a iT￿ximuM sum Df £80,000 providing for procur8ment of equipment and accommodation. Thg Trusf8 activities ar& planned more than a year in advancg and any surplus will be addr88sed when forthcomlng budgets are approv8(I by tha Trustges. PLANS FOR FUTURE PERIODS In 2024125 wg aim to: Implament our Forest ol Avon Strategy thngsida the Health and Wellbeing Strategy contlnuing the implemoniation of the Forest of Avon Plan. Thb Includes 6mbething our Vislon and Vaknes across our work arKJ reaching out to a wider audlence to 8ngage new communities. landowner8 and partners. Releasa the new Hub websito for the Forest of Avon as well as a sull6 of futher communications as80ts which will increase enoagemertt aFKI awarenoss across the reglon, 3. Wooclland cr8atlon: Delivery of our Year 5 Trees for Climate programme together with the Emergen Tr99 Fund and Woodfand Creatton Accelerator Fund roles actlvity supportlng Into the progr￿rne. 4. Woodland Managen￿nt.. Dellver both our Bathscape woodland management and our orchards proiect and Seeking ways to support tha continuation and expansion of woodland and orchard management advlce across the r8gion. 5. Woodland based nature and health actlvity: Confjnua to deliver our current programrno and where possible, maat further need through additlonal capacity. Forest of Avon Trust TNslees Responslbilities The Trustees (who are also the directors of Forest of Avon Trust for the purposes of company law) are responsble for preparing the Report of the Trustees and the linancial slatements in a¢xordancewith applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). CoFnpany law requires the Trustees to prepare financi3J statements for each financiat year which give a irue and lair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expendilure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to: select suitable accounting Frf)licies and then them consistently: observe the methods and principles in the Charity SORP 2019 {FRS 102). make judgements and estimates that are reasonable and prudent" state whether applicable UK accounting standards have been followed, subjeL# to any material departures disclosed and explaned in Ihe financiai slalements,. and prepare the financial statements on the going concem basis unless r( is inappropriate to presume that the charilable company wi51 continue in business. The Trustees are respjnsible for keeping adequate accounting records which disdose with reasonable accuracy at any time the financial Fosition of the charrtable company and to enable them lo ensure thal Ihe financial statements comply wilh the Companies Act 2006. They are also respjnsible for safeguarding the assets of the charrtable company and herFce for taking reasorTable steps for the prevention aTrJ detection of fraud and other irregularities. In so far as the Trustees are aware- there is no relevant audit infomiation of which the charrtable companys auditors are unaware. and the Trustees have taken all steps that they ought lo have iaken to make themsefves awate of any relevant audit informalion and to establish that the auditors are aware of that inlomiation. Audltors The auditors. Haines Watts (Wesiem) Limited. will be sy0￿Sed for re-app)inbnent at the lorthcoming Annual General Meeting. A￿roVed ty order of the Board of Trustees on 27 Novefftber 2024 and siJned on rts behajf by: A Rankine Chair and Tn& Forest of Avon Trust Report of the Independent Audltor8 to the Members Opinion We have audited tho financial statements of Forest of Avon Trust (the,ch￿ltabIQ company,) for the year onded 81 March 2024 which compris8 the Statement of Financial Activities, tha Balance Sheet, the Cash Flow Statement and notes to the Ilnanclal statem&ntg, Including a summary of slgnlficant accounting p)IIci8s. Th8 flnanclal rgporting framgwork that has been applled In their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Ganarally Accepted Accounting Practice}, including Financial Reporting Standard 102 'The Flnancial Reporting Standard applicable In the UK and Republic of Ireland,. In our opinion the flnancial statements: glva a true and falr vlew of th8 8tata of the charf(abl8 company'8 affairs a8 at 31 March 2024 and of its Incomlng resources and apFlicatbn of resources, includino its Income and expendlture, for the year then hav8 b88n prop8rly prepared In accordance wlth Unltgd Kingdom G&neralty AccgpÉed Accounting Practice, Includlng Flnancial Reportfng Standard 102 'Thè Flnanclal Raportlng Standard applicabl8 In tha UK and Republic of Ireland; and hav8 b9en propared in accordance wlth tha requirements of the Companies Act 2006. Basls tor oplnlon We conducted our audit in acc0th￿ with Inlernatlonal Standards on Audltlng (UK) (ISAS {UlQ) atKI appllcable law. Our rosponslbilitlès undor those starKla￿S are furthgr dascrlbed In the Auditors, responsbilitles for thg audit of the flnanclal statements Sec￿on of our rep)rt. Wa are indèp8ndènt of the chwltable company in accordance wlth the elhlcal requlrements that are relevant to our audll ot the flnanclal statements In the UK, Includlng the FRC'S Ethical Standth, and we have fulf111￿1 our other ethlcaj responsibilities In acLY)rdance with these requlremènts. We balleva thatlhe audit evidence we havo obtain8d 18 sufficiont and aF¥xopriate to provide a basis for our oplnlon. Concluslons r8lating to golng concern In audltlng tha flnanctal statements, wa havè conclud8d that tha Trustaa8' uso of tha goirwj wnc8rn basi8 of accountlng In the preparation of the financlal 8tat6mentS 18 8ppropriatg. Based on the work we have performed, we have not identlfled any matorlal uncertalntles relatlng to event8 or conditions that, indlvidually or colbctivety, may cast significant doubt on Iha charitabla companls ability to contlnue as a golng eoncem fur a perlod of at least twelve months from when tha flnancial statements are authori88d for Issue. Our responsibilities and the responslbilltles of th8 trusieas with rospa¢t to going concem aro descrbed in Ihe relevant sectlons of thls report. Other Intomiatlon The trustees ara r8sponsible for the other informatlon. The othor Informatlon comprlses the Infomiatlon Inclucled In the Annual Fieport, other than the financial stat8m&nts and our Report ol the Indapandent AudFtor8 thereon. Our opinion on the financlal statements does not cover the other Inlormatlon and, 8xc8Pt to the extent otherwls8 explicilly stated In our report, we do not express any form of assurance concluslon thereon. Forest of Avon Trust In connectlon wlth our audit of the financial Slatemenls, our rasponsibility is to read the other information and, in doing so, consld&r whether the other informatlon 19 mat8rlally inconsistant with thè financial slatements or our thowl8dg8 obtained in Ihe audit or otherwise ap￿arS to be materially mlsstated. If we Identlfy such materlal Inconsistencles or aki)ar&nt mat&rial misstatgments, w& aro required lo determine whether thls gives rlse ID a maiorlal mlsstatement In the Ilnanclal stalem8nts thems8lvas. If, based on th8 work wa hava pgrform8d, we conclude that thera is a material misstatement of this other infomiatlon, we requlred to report that fact. W8 have nothing to r8P3rt In this r￿ard, Oplnlons on other mattws preserlbed by Ihe Companlas Aci 2006 In our opinion, basgd on the work undartaken in the course ol the audit.. tho information given in th8 Rep)rt of tha Trustees for the flnanclal year forwhlch th8 financlal 8tatem8nts are prepar8d18 conslstent with tha financial statemants" and th& Report of the Trustees ha8 been prepared In accordanc8 Wtth applicable18gal requirements. Matlers on whlth we aro required to rnport by excepllon In tha light of thé knowlédg8 and understanding of thg chariiabla comp8ny and its environment obtained in the course of the audrt, w& hava not Identlfied matarlal m188tatem8nl8 in th& Report of th6 TrustaO8. Wè hav6 nolhlng to rep)rt in r8SPOCt of the following matters ￿er0 tho Companles Act 2006 requlres us to rq)ort to you if, In our opSnton" adequate accountlng records hava not been kept or returns adgquate for our audit hava not be8n r8caived from branGh8s not Yisltqd ty us; or thè financial 8tatamgtts aro not in agraoment with the accountlng records and returns; or certaln dlsclosures of Trusteed remuneration 8pecified ty law ar8 not made; or we have nut r￿e1Ved all the Informatlon and explanations we require for our audit. or the Trustees werg tKIt ent￿ed to take advantage of the small companle8 exemptlon from the requlremgnt to prgpar9 a Strategic Re{￿ or in prgparlrTg the Report of the Trusteos. Responslbllllles of Trustees As explained more fulty In the Trusteas, Resp)nslbllftles Stat8ment, th8 trustees (who ara abo the directorg of thg harilablg company for the purposes of conwany law) are reswnslble for th8 preparation of th6 financial statements and for beffig satisfi8d that they give a true and falr vlow, and for such internal control as the Trustees delermlne Is necessary to enabl8 th8 preparation of financial stalomènts that are free from material mFSStatement, whathor dug10 fraud or error. In preparing the flnanchql stat8m8nts, the Trustees are responsiblg for assessing the charftable company's abilty to contlnue as a golng concern, dtsclosing, as applicable, maiiors ralated to going concem and using the going concern basls of accountiTTg unless the Trustees elther Int&nd to liquldat8 the charitable company or to ceas8 OP8rations, or have no rèatiSliG altemativg but to do so. Our responslbllltles for iho audlt of the tlnanclal siatements Our oblgCtivo8 are to obtain reasonable assurance about whether the flnanclal statements as a whol8 ar8 frea from material misstatgment, ￿ether due to fraud or error, and to issue a Report of the Independent Audltors that includes our opinlon. Reasonable assurance is a high 19V91 of assuranc&, but is not a guarantee that an audit conducted In accordance wlth ISAS (UK) will aEways delecl a mat8rlal mlsstat8m8nt when it exists. MisstatemetTts can aris& Irom fraud or 8rror and are oonsKlered materfal If, Indlvidually or in the aggregate, they could reasonably be @xpected to Influence the economic decisions of u8&rs takgn on the basis of these financial statements. Forest of Avon Twst Irregularltles, Includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in lin8 Wlth our rasp)nsibilities, outlined *)ovo, to detect material mlsstatements in respect ot irregularlY8S, including fraud. Th@ 8xtent to which our procedures are ca4)able of detectlng Irregularfties, inclLKling fraud Is detailed below. Wg obtaln8d an understanding of the legal and regulatory frameworks aFWicable to tha charftablo company and the sector In whicF7 It operatas. We determined that the followlng laws and regulations were most slgnrficant: The Companios Act 2006, LIK GA4P, Th8 Charities Act 2011 and th8 Charlties SORP. We obtained an Understa)￿ng of how the charitable company Is complying with those legal and regulatory frameworks and mada enquir5e8 to the managemgnt of known or suspected instances offrawl and non4omplian¢e wfth laws ano1 regulations. Wfi corroborat9d our or￿ulrI&S through our review of board minutes, other relevant meeting mlnutes and revkw of corresr4)ndenea wlth regulatory bodies. W6 assessed the Susc￿th)II1ty of tha chariiabla company's financial statements to material misstatement, Includlng how fraud might occur. ALtdit procedures performad by the audit t&am irKluded: • Idantifying and as8a8sFng the corrtrol8 managernent has In place to prevent and datect fraud; Understanding how thosg charged with governance considered and addressad the potential for overrlde of controls or othar Inappropriat8 Influ8nca ovar thg financial reporting process; ChallengirFg assumptions and judgments mad8 by management In Its 819nlflcant a¢countlng estlmates and judgments; . Identlfyfng and tastlngjoumal 8nÉri@s, in Particul￿￿oUrn8J entries p0st￿lW11h unusual accouFrt comtinations. and • A88888ing the ￿ent of cotnplian¢X wlth the relevant laws anci regulatkjns. Because of the inherent Kim￿atIOnS of an audit, there is a rfsk that wa wlll not detect Irregularltle8, Including those leading to a ￿￿terRI mFSStatement in the tlnanclal statements or non-com￿lance wlth regulatlon. Thls rlsk increases th8 morathat compllanca with a law or ragulation ts removed from the events and transactions reflected in the financial statemgnts, as we wlll ba less likaly to b6coma awarg of instancas of non-complian¢e. Tha ri8k is also greater iegarding irregularities occuffing due to fraud rather than arror, as fraud Invofve8 intentlonal concealman( forggry, collusion, omission or misrepresentatlon. A further degcrfptlon of our re8Ninsibilltias for the audit of tho financial statements is lo￿ted on the Fin8J)cial ReFQrting Coun￿1,$ website at www.frc.org.uklaLJdttorsr&sponsibilitie8. This descrlption forms part of our Report ot tho IrKlependgnt A￿litorS. Use of our Yeport This rewrt is made soleEy to the charftable companls members, a8 a body, In accordanca wlth Chapter 3 of Part 18 of the Companies Act 2006. Our audit work has been undertaken so ttlat we mbht state to the charitablè company's m8mbors those matters we are required to state to them In an aLS(fjtorg report arKlfor no other purwse. To the fvllest axtent permitted by L4w, wg do not accept or assume responsibilty to anyone otherthan the charitable company and the charitablo company's members as a body, for our aLth work, for Ihis report, or for the opinions we hava formgd. Andrew Jordan FCA (Senlor Statutory Auditor> for and on behalf of Hatnes Watts (Westem) Llmiiad Chartered A¢￿￿ntants and Statutory Audltors Bath House 6-8 Bath Str88t Brfistol BS16HL Forest of Avon Trust ststement of Flnanclal Artlvltles for the Year Ended 31 March 2024 (Includlng Income and Expendlture Account) Unrestricted Restrirted funds funds T•)tsl 2024 Note lTrcome and Endowments from: L>)natlons and legacies Charftable ac¥NTtles Invesbnent Income 29,0 135,772 15,998 29,OFJ) 1,435,054 15,998 1,299,282 Total income 1299 282 X 480 112 Expendknre on: Ralslng funds Charttable activlttes (31,096) (31,096) (164,655) (1,241,853) (1,406,￿8) Totsl expaKllture (195,751) ( &241,853) ( 1,437,604) GaltTrs l(Iosses) on In￿tment assets (829) (829) Net Incomol(expendlture) (15,750) 57,429 41,679 Trangfers between funds Net Move￿ In funds (15,750) 57,429 41,679 Reconcilialyon of funds Totsl funds brought forward 475 912 475 912 Total funds carrkd forward 517 591 All of the Charity's adivitie5 derive from cffltinulng operdtlons durlng the year to 31 March 2024. The notes on pages 14 to 28 form an integral part of these finandal *atements io Forest of Avon Trust Year Ended 31 March 2024 Comparatlve Statement of Flnanclal Attivitles for the YeHr Ended 31 March 2023 (Includlng Income and Expenditure Account) Unrestslcted Re#rkted funds funds Total 2023 Income and Endowments from: Lbnatlons and legacles Charltsble ad￿ltIeS Invesbnent Income fAI,623 87,K20 [￿),623 965,581 6,409 877,761 Totsl income 877 761 1032 613 Expendlture on: Raislng funds Charltsble attlvlues ( ts,571) (79,763) (18,571) ( IA)67,212) (987,449) Total experKlittJre (98,334) (987rt49) { 1,085,783) Galns l (losses) on Investmert assets (1,663) (1,663) Net IncoMe/(expendl￿re} S4￿55 { 109,688) (54,833) Tra￿er$ between funds (8WJ7) 8097 Net movement In funds 45,958 { ￿0,791) (54,833) RecO￿lI1￿tIon of funds Totsl funds brought fO￿ard Totsl fU￿S carrled fO￿ard 20 475 912 All of the CP￿rity,S activities derived from CQF7tlnuFng operat10￿ durirbJ the year to 31 March 2023. The fund5 breakdown for 202315 shoNn In note 20. The note5 on pages 14 to 28 form an irtegral Ekirt {* these financial ststements 11 F(￿est of Avon Tn￿t Year Ended 31 Marth 2024 (Company registration number: 06252763) Balan￿ Sheet 1024 Z023 Tangible assets Investrnents 14 11,163 44,581 55,744 11,139 45,410 56,549 Debtors Cash at bank and in hand 16 17 104,493 2 923,455 3,027,948 878,328 1,606,420 Cxediiors: Amounts falliry due within one y 18 (2,566,101) (1,187,057) Net current assets 461,847 419,363 517,591 475,912 Funds of the charity RestriLtsd funds 57,429 Unrestrtted fvnds 460,162 475,912 Total funds 517,591 475,912 Th￿ financial stat£ments have been preparèj in )vth the pn)v5￿6 applicab￿ to chartsble companEs ￿biett to the small c(>npanEs regm The financial statements were approved by ttE BoaFtt of T￿￿t￿5 and aUth￿L*￿ for iwe ￿ 27 NOv￿ber 2024 and were signed on ts behalf by: A Rankine Chair and Trustee The not& ffi pages 14 to 28 fcThi an i1￿[al part of th&e firwnckil statemots Forest of Avon Trust Statement of cash flows Year Ended 31 March 2024 Reconciliation of net income to net cash tlow from operating activities 2024 2023 Net Income for the reportlng perlod (as per the statsment of flnandal artlvttles) Depreclation charge5 (Galns)110ss&F on Investments DIVIde￿5, Interest and rent from Invesbnents Loss on disposal of r￿ed assets Decrease/(lttrease) In debtors Increase/(deLrease) In creditors 41,679 (54,833) 4,288 829 (15,998) 675 773,835 1,379,044 2,603 1,663 (6,409) (730,369) 462,166 Net cash provlded by / (used In) operats.ny actlvltle5 2,184,352 (325,179) Note 2024 2023 Cash flows from operatlno a¢tfvltks Net cash (used In) operatlng actlvltles 2,184,352 325,179) Cash flows from Investlng artivitlej: DIVIder￿S, Interest and rents from knveknrts Payments to acqulre fixed assets 15,998 (4,987) 6,409 (11,354) Net Cash prorfided by l (used In) Investlng act1￿$ 11,011 (4,945) Change in cash and cash equivalents in the year 2,195,363 (330,124) Cash and cash equlvalents at the beglnnhg of the year 728,092 I￿58,216 C4$h and cash equlvalwts at the end of the year 1923,455 728 092 13 Forest of Avon Trust Notes to the ￿nancIal Ststements for the Year Ended 31 March 2024 I Char5ty staths The Charlty Is Ilmlted by guarantee, Incorporated In England and Wales, and consequentw do& not have share capitsl. Each of the Trustees is liable to contrlbute an amount not eX￿edIng Elo towards the assets of the Charty In the event of Ilquldatlon. 2 Accountlng pollaes Summary of slgnlficart accounting poli¢ies and key acc%)untlng estlmates The principal accounling policies applled In the preparation of these finanaal statements are set out below. These policies have been co[￿lStertIY applled to all the years preS￿lEd unle55 c*herwJse Bads of preparat The financial 5tstements of ts Charty, whlch 55 a publlc beneft endty under FRS 102, have been prepared In accordance wth ts Charttles SORP (FRS 102) 'Accountlng and Reportlw ty Charftles: Ststsmert of Recomm&￿￿ Pract1￿ applicable to charities preparing their accounts in accordance wlth the Flnandal Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) (effettwe l January 2019),, Hn6ncial Reportlr¥J Standard 102 The Flnandal Reportlng Stsndard appI￿ab]e in the UK arKI Ilepub￿C of Ireland, and the Companles Act 2006. The flnarKlal statemerts prepared under the hlstorfcal cost conventlon. The financlal statetnents are prepared in sterllng whtch Is the f￿￿tIonal currency of the tharitsble COFnpany èrtd are rounded to the nearest £. Golni concern The financial *temeFts hove prepared on o goi￿ concern basis. The Trustees con5kler th&there 6re FK) matrrlal uncertalntles gbout the Charws ablllty to contjnue a5 a going concem rDr 6ny 51gnlflrant areas of Un￿rtaInty that affett the carrylng value of a55ets hekl by the Chartty. 14 Forest of Avon Trust Notts to the Flnanclal Statements for the Year Ended 31 March 2024 Accounting estimats8 and key Judgements In the appllcation of the CharfLYs aco)untlng pollcles, the Trustees are requlred to make Judgements, estlmates aThJ assumptlons about the carrylng values of assets and liabilities that are not readlw apparent from other sour￿, The estimates and underlwing assumptions are based on hLgtL)rieal experience and (*her factors that atE considered to be relevanL Actual results may differ from these estimates. The estlmate5 and undertylrvJ assumpt1￿5 are revlewed on an ongolThJ basls, Revlskjn to accounting estlmates are recognlsed In the perlod In whlch the eslamaLe Is rev1￿￿ If the revlslon affects onty that peri(Jl, or In the perfiod of the revislon and fubJre periods "rfthe revigton affects both the current and futsjre period5. The kerf Sour￿ of estimatHJn uncetslnty that have a slgnlflcart effett on the afnounts recognlsed In the flnandal statements are the accrued costs and deferred Irtcome In rehtlon to the Trees For aimate grart Income and Charltable actlvlty costs. Income and endowments All Incorne is recogntsed once the Charty has entjtlement trfj the InCc￿, Ft Is probable that the Income wlll be re￿EVed and tfrE amount of the Inccme recelvable can be measured relIab￿. DonattorB we remgni5ed when the Charlty has been notlfied in writitvJ of LM)th the amourt aFKE settlement date. In the event th& a donation is subject to condFtlons that requlre a level of perfomTrno by the Charfty before the Chaty Is entitI￿j to the funds, the Income Is deferred and nrt recog￿ untll e5thw th(se cornlSlJons are fulty met, or the fulfilment of those thndwons Is wholly wEthln the control of the charlty and It Is probable that the* condittons ￿￿11 be fulfilled in the reportlng ￿1£￿1. Grants are recognis&1 when the tharlty h¢s on entitlement to the funds and ary conditions Ilnked to the grants have been meL Where performance condltlorts are attached to the grant and are yet to be Fn< the Incomels r￿nISed as a Ilablllty and Included on the bakno St￿et as deferred Im>me to be released. D0F￿ted goods, seEy￿e$ or fa(xlltles are recognised as income when the Ch6rEty has control over the item, any condittons asxKiated with the donatsd Item have been me¢ the re￿[pt of economlc benefit from the use by the Charlty of the Item Is probable and that ecoThJmlc benefft can be measured rellabty. On r￿lPt, donated g(x)ds, servlces a￿1 facllltles are recognlsed on the basls of the value c￿ the gEft to the Charity which Is the amount the charty would have been wllllng to pay to obtain servlces or facilities off equivalent economlc beneflt w the qjen mark*, a correspoFvJing amount is then recognlsed In expendlture In the period of reoSpt. Investmentlnconje Interest on funds hekl on depos11 L4 Included when retsivable and the am(KJnt con be rn￿ured rellably ty the Charlty. thls Fs normally upon nctlfication of the interest paid or payabk ty the bank. 15 Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 Marth 2024 Expendityre All eXpa￿lture15 r￿n15￿ once there Is a legal or corstruttwe oblvJalx)n to that expendrture, It ts probable *ttlement Is required and the amount can be measured reThabW. All costs are all(thted to the appllcable expendlture headlro that aggregate slmllar costs to that category. WTr￿re costrs eannot be direcljy attrlbuted to partiwlar headings ljw have been allocated on a basis conststent w￿h use of resources, wlth central staff costs allocated on the basis of ￿me spent and depredatlon charges all(Kat￿l on the portion of the asset5 use. Other SUPPLYt costs re allocatsd based on the spread off staff CCL4ts. All resources expended are Incluslve of Irrecoverable VAT. Rawlng funds Ttr￿se are costs l￿ffed in aLtracting voluntary income, the management of investmen15 and thc6e Inwrred In tradlng actErf￿e5 that raise fu￿$. Charftable artlvltles Charitable expendlture comprlses those C¢%ts Incurred ty the charfty In the dellvery of Its acElthtles and servke5 for ts benef￿larI&s, It includes both o)5t5 that can IE all(Kthl dlrectly to such acuvlts arTd those costs of an indireLt nature ne£essary to SUPkKirt them. Support costs Support costs are t￿se funttlons that asslst the work of the Charlty but do not dlrectty undertake cfrwrftsble athviti"es, Governonts costs ara the cost associat￿ with the governan￿ arrarvJements of the charlty, ncluding the cost of CC￿pI￿lng wlth consdLuttonal and statutory requirements and any ost assocbted wlth the strateglc management of the Charlty 5 6rtivities. These CLtst have been alllxated bethen co* of ralslno funds and expendEttJre on charitsble actirfrtTe5 on the followlng basls: Raislng fuFts IO% (2023: 100/0) Chartsble actlvltte5 belng 900/0 (2023: 90%) These indude the costs attrfibutsble to the Charlty s complIar￿ wlth constlthnal and statutory requirements, Includlng aud¢ strateglc management Truskn meetings and relmbursed expenses. Irrecoverable VAT Irrecoverable VAT is charged agalnst ts category cf res￿r¢e5 expended for whlch It was Incurred. 16 Forest of Avon Trust Notes to the Financlal Statements for the Year Ended 31 March 2024 Taxation The Charity15 consldered to pass the tssts Set out In Paragraph I Sthedule 6 of the Finance Act 201D and therefcre it meets the definition of a charitable company ft)r UK corportlon tsx purwses. Accordlngty, the charity Is potentially exempt from tsxafion in respect of income or capltsl gains ￿1Ved withln catsgorles covered ty Chapter 3 Part 11 of the c￿￿ratknn Tax Att 2010 01 Section 256 of the Taxatlon of Chargeable Gains Act 1992, to the extsnt that suth Income or gain are applied exclusive5y to charitsble puwses, Tangible r￿ed assets Individual fixed assets costing £150 or m￿e are initially recorded at ms¥ le55 any subsequent accumulated depfftCia¥l￿ and subsequent accumulatsd impairment losse¥. D￿reclarIOn and amortlsatlon Deprecotion is provlded on tanglble fixed assets so as to wrte off the cost orvatuatlon, I￿$ anv esthnated rtsldual value, over their expected useful eLonomic Ilfe as follows: Asset class Furnlture arKt offke equipment Depreclatlon method and rate 33.33% stralght line ba* Flxed asset Investments F￿ed asset investments are Includ￿ at market value at the b￿n￿ sh￿t date. Reall￿d galns and l¢xFeB on inv*nents are calculated as the Iffftren Lthn sales prweeds and their market value at the Start of year, or their sub5ENuent C(6t, are charged or credited to the Statement of Financkil ActDJits in the pe￿d of disposal, Lknreafised galns and Ios5e5 represent the movement in MarketVak￿S during the year and are credited or charged to the Ststement of Financia ACti￿1fte5 based on the mats value at the year end. Debtor5 Debtots are measur&J on Inltlal recognlt•Jn at setttetnent amount after any amounts advanced by the Charfty. ￿bsequent[V they are measured at the cash or other conslderatkyn exFeCted to be rettlved. Cash and cah equlvalents Cash aftd cash equivalents comprlse cash on hand and coll deposits, and other short-term highty liquld Investsnents that aR Radlly convertible to a known amount of cash and are subject to an insignifiont rssk of change In value. Crerfrtors The Charfty has credltors whlch are measured & sthment amoLmts. 17 Forest rf Avon Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 Fund stru¢turn Unrestrttted Income funds are genernl funds that are avalbble use at the Trustees, discretion In furtherance of the objectlves of the Charlty. Restrlcted Income funds are those donated for use In a partlcular area or for speclflc purpow, the use of whlch Is restrlcLEd to that area or purpose. PeA5ions and other post retirement obfigations The Charlty operates a deflned (￿nt￿but￿n penslon scheme whlch ts a penslon plan under whkh ed contrlbutlons are pald Into a penslors fund and the Charity has no legal or construttlve obllgatlon to pay further cortrlbutlons even If the fvnd does not kK)Id suffldent assets to pay all employee5 the benefits relatlng to emp￿v￿ Serv￿ In the current and prlor perlods. Contributions to deflned contrlbution plans are recognlsed In the Statement of Flnanaal Activrfcles when they are due. If contrlbutlon payments exceed the cMtrlbutlon due for seNlce, the ex￿5 Is recognlsed as a prepayment. Lease commltsnents Rentsls paid under operdting th5es are ch6rg&l to the 5tateFnert of financial aLtivitles on a straight line basls over the perk)d rf the lease. Finpn¢ig1 Instruments Classthtton The Charlty only has flnanclal a* arKJ Ilab]EFt1￿ of a klnd that quallfy as baslc flnancl81 instruments. nawkl In5trumerts are Inltlally record￿1 at tran5actlLTh value and Subsequently measured at theli settlement value. 18 Fort of Avon Trust Notss to the Flnanclal Ststements for the Year Ended 31 March 2024 3 Income from donatlons and legad Unrestrfcted Restrfcted funds funds Total 2024 Grants from companles, trusts and 51mlkr proceeds Donations from Irmllvlduals 25,263 3,797 25,263 3,797 Unrestrktsd Restrfctsd funds funds Total 2023 Grants fram companles, trusts ond 5knIar proceeds Donatlon5 from I￿lIV￿l￿arS 56,309 4,314 56,309 4,314 19 Forest of Avon Trust Notes to the financial Ststements for the Year Ended 31 March 2024 4 Income from charftsble artlvifies Unre#ricted Restricted funds fund8 Totsl 2024 Trees for Climate Forest Frldays W(x)dland Well-beiru Demeth Project Wcodland Advlsory Consultsncy One Tree Plarted 1,299,282 1,299,282 13,645 34,615 45,734 935 43 13fi45 34,615 45,734 935 43 135 772 40 1299 282 Unrestrlcted Restricted lurKIs fundg Total 2023 Trees for Cllmate Forest Fridoys WcK)dland Well-belFvJ Demenlja Project Wwdland Advlsory Consultancy One Tree Plarted 877,761 877,761 10,635 22,939 7,395 255 46,596 10,635 22,939 7,395 255 46,596 877 761 5 Investmert Inwn Unre9tr1cted funds General Total Interest receivable arKI slmllar Fncome: Interest recelvabk on bgnk deposlts Totsl for 2024 Totsl for 2023 20 Forest of Avon Trust Notes to the Flnanclal Ststements for the Year Ended 31 March 2024 6 Expendlture on ralslng funds Unrestricted Restricted funds funds Totsl 2024 Total 2023 Dlrect marketing Consultant fee Allocated supp(rt costs 2,968 21,674 6,454 1,081 14,300 3,19] 21,674 6,454 7 Expendlture on Charitable athvities Unrestrfctsd Restrkted funds Totsl 2024 Totsl 2023 Dlrert projett costs Depreclatlot7, amortlsatlon and other 5knFlar c(bts staff costs All(Kated support G)vernano costs 2,697 903,945 J6,642 798,652 4,963 92,506 58,081 6,408 4,963 430,414 58081 6A08 2,603 226,107 28,702 11,148 337,908 1241 S53 1067,212 8 Analysls of costs Unrestrirted Re*rictsO funds fundg Totsl 2023 Dlrect projert Cl￿ts Tree5 for Cllmate Woodland Wefltslng Dfftntia Great Avon WLwJd LVSts Emergency Tree Fund costs Forest Frfdays costs Overscourt cost5 Orchards for Pdlhwtors costs Ots pr￿eCt5 819,676 SI9￿76 2,946 753,198 10,884 13,494 11,667 2,112 2,946 78 53,866 5,912 16,973 4,412 2,696 53,866 5,912 16,973 4,412 2,779 7,296 798 651 21 Forest of Avon Trust Notes to the financia I Statements for the Year Ended 31 March 2024 Analysls of governan￿ and support Costs Raising funds expenditure Unrestrkted funds Total 2024 Totsl 2023 Basls of allocation off￿ sundrles Travel and subslsten Telep￿)ne and internet Insurance Consultart fee Bank d￿rge$ 5,456 59 618 188 118 15 5,456 59 618 188 118 15 2,362 85 169 410 14 Charltsble acUvltle5 expendlture Unrestricted funds Totsl Total 2023 Basis of all(Katlon Oftr 5undrfes Travel and subs15tence Telephone and lrternet Irwrance Q)nsultsnt B?nk dwrges 49,101 530 49,101 530 S￿6 1,688 I,IX>2 134 21,254 762 1,524 3,686 1,350 126 1,688 1,062 134 Basis of allocat1< Refffence Method of allocatlon 90Wo of allocated supwrt costs IO% of allocated supp)rt o)sts 22 Forest of Avon TNst N¢)tss to the Financial Ststements for the Year Ended 31 March 2024 Govemance costs Total Unrestrfcted funds 2024 2023 Accountyng and audlt 11,149 Total 9 Govemment grnnts The Charlty recelve5 government grar)ts and contract income, defined a5 fundlno from South GbUC&*ershi￿ Councll, Brlstol Clty Councll, Devon Partner5hlp NHS Trus¢ West of England Combln Authorlty arKI DEFF￿ Vla Cheshlre W£%t and Chester Councll to fund charttAble actlvtties, The amoumts of grants re(Dgnlsed in the finandal ststements was £1,434,119 (2023 - £965,326), There are no unftjlfllled condltlons or conllThJerts aitschal to these grants. 10 Net I￿￿MIng/out901ng resources 2024 2023 Net incom1r￿ re50Utres for the year I￿ude. Orerdung lease Depreclatk)n of ftxed asséts 11,9P 11 Stsff costs The aggregate payroll costs were as follows: 2023 staff costs durlng the yearwere. Wages and salar[85 Soclal seLurity o)sts Pension costs 378,681 28,974 137 198,297 13,634 4,118 415,792 216,049 Other stsfflng costs (tralnlngi recwltsnen¢ travel) 14,622 IOA)58 Totsl staff costs 430 414 226 107 Forest of Avon TN Notes to the Financial Ststements for the Year Ended 31 March 2024 The monthly average number of persons (Includlng senior management team) employed by the Chaiity during the year was as folths: 2024 2023 No Average head C￿nt Full ttme equivalent 15 12 No employee recelved emolumerts cl more that £60000 during the year. The totsl remuneration pald to key management personnel for thelr servjces to the Charlty durlng t year was £70,169 (2023 - £5L209). There were no TNstees' remuneration or other ben<s for the year ended 31 March 2024 rKK for the year ended 31 March 2023. There were no Trustees, expenses pald for its year ended 31 Marth 2024 nor for the year e￿Ied 31 March 2023. 12 Audltor's remunerntlon 2024 2023 Audlt cf th8 financial ststements (Includlng adJu5tmerts) 13 Taxatlon The Charlty Is a reglsteroj chèrtrty a￿1 15 tsrefore exempt from tAxatlon on Its chartsble actIv￿￿5, provlded all Income Is applled for charftable purposes. 14 Tpngible fix¢d assets FurniLure and offKp equipment Totsl Cost At l Aprll 2023 Addltk)n5 Dlsposa15 16,970 4,987 (5,156) 16,970 4,987 (5,156) At 31 March 2024 Depreclatlon At l Aprll 2023 Charge for the year Disposals 5,831 4,288 (4,481) 5A31 At 31 March 2024 Net book value At 31 M8rch 2024 At 31 March 2023 24 Forest of Avon TNst Notes to the Financial Ststements for the Year Ended 31 March 2024 15 Flxed a55et Inve#ments M & G Imiestments Total Cost or Valuatlon At l Aprll 2023 Revaluatlon 45,410 (829) At 31 March 2024 Net bookvalue At 31 March 2024 At 31 March 2023 Totsl Investment relate to fu￿1$ Invested In the M&G Investm8nts Charlfund scheme. 16 Debtor5 2024 2023 Trade debtcKs Accrued irmme Prepayments 25,775 54,7é6 25,701 852,627 17 Cash and cash eoulvalonts 2024 2023 Cash at bank 2 923 455 18 Creditors: amounts falling due withln one year 2024 2023 Trade credltt*s Olher taxatlon and socFal secur Other cr&itors Accruals arKI deferr&4 Income 594035 9,683 2,801 1959 582 2 566 101 23,992 16,068 2,955 1144 042 t 187 057 Fornst of Avon Trust Notestothe Flnandal Statsmonts forthe Year Ended 31 Mttyeh 2024 19 Penslon and other schen The Charity OFerates a defined wntrllxrtk)n p￿$[0￿ stheme. T1￿ ￿$10n ¢OAI tharL* forthè yÈ3r repr¥antsconMtMrtkns F￿ab￿ byt￿ totheschÈMè arn￿n￿ to É8,131 (2023- E4,118J, 20 Fundg alart￿at l Aprll Other ance at v¢¢ognMd 31 MaY¢h Transf•rn WnslLlo* 2024 Ineomi R•Bour UnragtrfLtedfwM GenwalfuNd5 Totsl unr¥trl•*e41 furrds 195 /51 195 /51 8Z9 829 Re#rfctod fund9 Tr*sfor Qlm&e- Tw f(Y Cllm&e. RMue (Yl*y 1148,166 2￿516 1989,2921 1252,5611 (2J)45) 1045 S/hZ9 Total rtstrl¢ted funds Totalfundo Tha 5wfflcpwKM7wtrwl*ht￿￿llld$aNtQ tsaN>ll&l are aB fc41o￿g.. Tfft5ftf Cllmat8- copftal mer#wfuNSIMJto the Forest olAvthi as oftq of England's CommuThty todelverTw ainmts tre8 and wothllattd gra￿. Atth4yoar gnd, trath5w8rp mada kn brtng t1￿ f￿d5 In Iir*wth o(tthl*)n9, En iha prtrKy8ar, dotMtbnslc* FCrfwt￿a￿lVIIQ& reffected don8tS)rns earmrk&l lorFciest&hool. 26 Forest of Avon Trust Notss tothe Flnnn¢lal Statsments forthe Yoar Endod 31 Mar¢h 2024 20 Fund$ (contknu*d) alanca at i Aprtl Ineomlnu Resources 2022 ra80ur¢e9 èxpended B)lan￿￿t 31 Mr4 2023 ognised rrnThrf•rJ ofilth#l(lo￿OS) Unrestrictodfunds 6eneml Gener* fund5 Donatknnsfor FoTe5tSchwl athmes Total unrortrl¢t8d 4￿,891 154,852 (98￿34 > 15,166 [1,6651 475,912 98 475 912 tvl¢tsdftmd8 Treeg for Cllm*e- CaprtaF Twfvr Cllts*. Re¥au Arbor Day 25,688 69,812 5,291 740038 13&923 (832,105) (150,053 J (5,291) 65,579 (56*82) rotsl roOtrl