Registered Company no. 06252763 (England and Wales) Registered Charity no. 1122314 Forest of Avon Trust (A company limited by guarantee) Audited Financial Statements For the Year Ended 31 March 2025 AEH6XW9 1111212025 COMPANIES HOUSE A08
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Forest of Avon Trust Contents For the year ended 31 March 2025 Referènce and admlnlstratlve detalls Trustees, annual report................................................................................................................ Independent auditof s report Statement of financlal activltles Balance sheet Statement ofcash flows.................. Notes to the financial statements .10 12
Forest of Avon Trust Reference and admlnl8tratlvo dotall8 Chair Alister Rankine Tru¥ts•8 Robert Bernay8 OBE DL Professor Sara Blackmore (to 27 November 2024) Christopher Bloor Giles Clarke CBE DL Charles Davies Pamela Gilder Nigel Howe Prof888or Mathew Jones James Mayer ArKlrew McLaughlin Senlor Management Team Alex Stone- Chief Executive Officer David Taylor- Chief Financial Officer (to 10th July 2025) Prlnclpal offlc• Studio 3 Utility House 3 York Court Upper York Street Bristol BS2 8QF R•glst•rod offlco Bath House 6-8 Bath Street Bristol 8S16HL Company number 06252763 (England and Wales) Charfty numb•r 1122314 Bankorn Natwest 8 South Parade Chew Magna 8S40 8SG Triodos Bank Deanery Road Bristol 8S15AS Nationwide Building Society Kings Park Road Moulton Park Northampton NN3 6NW Audltovs Gravlta Audit Westem Llmited Chartered Accountants and Statutory Audltors Bath House 8 Bath Slreet Bristol BS16HL
Forest of Avon Trust REPORT OF THE TRUSTEES The Trustees, who are also directors of the charity for the purpose of the Companies Act 2006, are pleased to present their report and financial statements for the year ended 31 March 2025. Reference and administrative infomiation set out on page 1 foms part of this report. The financial statements comply with the Memorandum and Articles of Association and the Statement of Recommended Practice Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {effective from January 2019). STRUCTURE GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its Memorandum and Articles of Associatlon, and18 8 company limited by guarantee. as defined by the Companies Act 2006. R•crultm•n( •ppolntm•nt and tralnlng of now tru•t• New Trustees are recruited through an open invitation to apply followed by an assessment of their suitabilrty and, if appropriate, interview by the Chair of the Board and a number of other Trustees with advice from the Chief Executive Officer and Chief Financial Officer. Successful candidates are then proposed to the full Board of Trustees ft)r formal appointment. Staff r•mun•ration Staff are pald according to salary bands agreed by Triistees on an annual basis. An annual pay review is undertaken in April whereby the Trustees decide on any variation to bands and Chief Officers review individuals pay within those bands which is then submitted to the Trustee's Financial Sub-committee ft)r approval. The Chair reviews Chief Officers. pay. Promotions are determined by the Chief Officers. Relaled partles None of the Trustees receive remuneration or other benefit from their work with the charity. In the current year, no other related party transactions took place with the Trustees. Rl•k manag•m•nt The Trustees have a duty to identify and review the risks to whlGh the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. OBJECTIVES AND ACTivrriES Objectlves and aims The objects of the charity are to promote for the benefit of the public th8 conservation, protection and improvement of the physical and natural environment within the Forest ofAvon. in parts'cular by: a) providing, conserving. protecting and improving woodlands; b) delivering education, training, volunteering and other activities, Including the arts, which engage the publrc in conserving, protecting, improving, using and understanding woodlands and the wider physrAI and natural environment. and c) improving derelict land and harmful sites and to provide or assist in the provision of facilities in the interest of social welfare for recreation or other leisure time occupation of the public at large, in particular by maintaining. improving and providing recreation and leisure opportunrties within the Forest of Avon. Public b•noflt 8lat•mant The Trustees confirm that they have fulfilled the statutory requirement to have due regard to public benefft when planning and undertaking the charity's work.
Forest of Avon Trust FINANCIAL REVIEW The Trust's main funding sources are: Trees for Climate grant fundlng. capital and revenue. received as part of the govemment's Nature for Climate Fund. Grant funding for specific projects Grant funding from foundations, other charities and grant making trusts. Public donations and business sponsorship. This funding enables the Trust to meet its objectives by funding core activity and additional projects that result in increased tree and woodland cover. increased connection of people to their local woodlands. activity conserrfing, protecting and improving woodlands, delivering education, training, volunteering. The Trusfs principal risks and uncertainties are based around: Reduction of income and incorneneratIng opportunities resulting in restriction of the Trust's activity or excess of expenditure resulting in flnancial constraints and instability. Failu of projects resulting in loss of reputation and future income opportunities. Loss of staff or key partners. Reduction in government and wider support for tr8e plankn'ng 8nd woodland activity. The strategy to manage risks involves continued review of risk registers and risk assessments. strong and transparent Trustee oversight and Trustee involvement in major decisions and expenditure. The Trust diversifies rts income streams to bring resilience. The Trust applies strict reporting and quality control processes to all project delivery to reduce the risk of failure. The Trust has expanded its team to reduce the likely effects of loss of staff and continues to develop the team structure to enable succession planning. Total income for the y8ar.was £2,265,432 (2023124: £1,480,112). The charlty was able to increase its expenditure on charitable activities. resulting in total expenditure of £2,209,682 for the year {2023124.. £1,437,604). The carry fofward into 2023124 includes restricted funding of £104.245 {2023124: £57.429) and unreslried funds of £471,001 {2023124: £460,162), giving a total funds balance of £575,247 (2023124: £517,591) to be carried forward. In the Trustees, view, the reserves should provide the charlty wlth adequate financial stabilty and the means to meet its charitable objectives for the foreseeable future. The Trustees propose to maintain the charity's unrestricted reserves at a level which is at least equivalent to six months, operational expenditure and have done so having regard to its manner of operation of likely funding streams. The Trust will maintain a minimum unrestricted funding reserve equivalent to 6 months, average monthly running Costs of £44,000 plus a maximum sum of £80,000 providing for procurement of equipment and accommodation. The Trust's activities are planned more than a year in advance and any surplus will be addressed when forthcoming budgets are approved by the Trustees. Trust•e$ Responslb51rties The Trustees (who are also the directors of Forest of Avon Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements. the Trustees are required to: select suitable accounting policies and then appty Ihem consistently;
Forest of Avon Trust 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, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial.statements on the going concern basis unless it is inappropriate to presume that the charitable company wlll continue in business. The Trustees are iesponsible for keeping adequate accounting fecords which disclose wilh reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comp.ly with the Companies Act 2006. They are also responsible for safeguarding the assets. of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware'of any relevant audlt information and.to establish that the auditors are aware of that information. Auditors The auditors, Gravita Audit Western Limited, wlll be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the Board of Trustees on 2nd Oecember 2025 and signed on lis behalf by.. A Rankine Chair and Trustee
Forest of Avon Trust Report of the Independent Auditorn to the Membern Oplnion We have audited the financial statements of Forest of Avon Trust (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial ststements. including a summary of significant.accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, includin9 its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing (UIQ (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu8lon8 relatlng to golng con¢•rn In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not idenb'fied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least hvelve months from when the financial staternents are 'authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Oth•r infomiatlon The trustees are responsible for the other inforrnation. The other infomiation comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheThvise appears to be materially misstated. If we identify Such material inconsistencies or apparent material misstaternents. we are required to dotermine whether this giv¥s rise to
Forest of Avon Trust material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material rnisstatement of this other information, we are required to report that fact. We have nothing to report in this gard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements" and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to r•port by •xc•ption In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misststements in the Report of the Trustees. We have nothing to report In respect of the following matters where the Companles Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made; or we have not recelved all the infomiation and explanatlon8 we require for our audlt,. or the Trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees, Responslbllltles of Trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realisb-c alternative but to do so. Our r•sponslbllltles for the audit of the flnanclal stat•m•nts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from rnaterial misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will aayS detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Forest of Avon Trust We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company and the sector in which rt operates. We determined that the following laws and regulations were most significant: Thè Companies Act 2006, UK GAAP, The Charities Act 2011 and the Charrties SORP. We obtained an understanding of how the charitable company is complying with those legal and regulatory frameworks and made enquiries to the management of known or suspected instances of fraud and non-compliance with laws and regulations. We corroborated our enquiries through our review of board minutes, other relevant meeting minutes and review of correspondence with regulatory bodies. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud rnight occur. Audit procedures perfonned by the audit team included.. Identifying and assessing the controls management has in place to prevent and detect fraud; Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process., Challenging assumptions and. judgments made by management in its significant accounting estimates and judgments,. Identifying and tasting journal entries, in particular Journal entrles posted with unusual account combinatlons,. and . Assessing the extent of compliance with the relevant laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all Irregularities. including those leading to a materlal misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, a8 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further deKription of our responsibilities for the audit of the financial statements Is located on the Financial Reportln9 Council's website at www.frc.org.uklaudltorsresponsibilities. This description forms part of our Report of the Independent Auditors. U•? of our rnport This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable . Company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do notaccept or assume responsibility to anyone other than the charitsble company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. Matthew Bracher Bsc FCA (Senior Statutory Auditor) for and on behalf of Gravita Audit Western Lirnited Chartered Accountants and Statutory Audrtors Bath House 6-8 Bath Street Bristol BS16HL
Forest of Avon Trust Statement of Financial Activities for the Year Ended 31 March 2025 (Includlng Income and Expenditure Account) Unrestricted Restrlcted funds funds Totsl 2025 Nots Income and Endowments from: Donat5ons and legacies Charltsble actlvltles Investment income 28,407 10,045 66,984 19,107 2,140,889 47,514 2,150,934 66,984 Total income 105 436 159 996 2 265 432 Expendlturn on: Raising funds Charitable activltfe5 (30,798) (65,704) (2,113,180) (30,798) (2,178,884) Totsi expenditure (96,502) (1113,180) (2,209,682) Gains /(losses) on investment assets 1,905 1,905 Net incomel(expendlture) 10,839 46,816 57,655 Tfansfers between funds Net movement in funds 10,839 46,816 57,655 Reconclllation of funds Totsl funds brought fOard 517 591 Totsl funds carrled forward 20 471001 The notes on pages 12 to 25 form an Integral part of these financial statements
Forert of Avon TNst Year Ended 31 March 2025 Comparative Statement of Financial Artivities (Induding Income and Expenditure Account) Unrestrlctsd Restricted funds funds Total 2024 Income and Endowments from: Donations and legacies Charitsble activittes Investment income 29,060 135,772 15,998 29,060 1,435,054 15,998 1,299,282 Total income 180 830 1 299 282 1480 112 Expendlture on: Ralsing funds Charitable activitles (31,096) (31,096) (164,655) (1,241,853) (1,406,508) Totsl expendlture (195,751) (1,241,853 ) (1,437,604) Galns l (losses) on Investment assets (829) (829) Net Incomel(expenditure) (15,750) 57,429 41,679 Transfers between furKIs Net movement In fund$ (15,750) 57,429 41,679 Recondllatlon of funds Totsl funds brought forward 475 912 475 912 Totsl funds carried forward 20 517 591 All of the Charity5 actfvitles derlve from contlnulng operatlons durlng the above two periods The notes on pages 12 to 25 form an integral part of these flnancial statements
Forest of Avon Trust Year.Ended 31 March 2025. (Registratlon number: 06252763) Balance Sheet 2025 2024 Note Fixed Assets Tangible assets Investments 14 15 7,220 46,486 11,163 44,581 55,744 Current assets Debtors Cash at bank and In hand 16 17 136,000 3,817,639 3,953,639 104,493 2,923 455 3,027,948 Credltors; Amounts falling due wlthln one year 18 { 3,432,099) (2,566,IOL ) Net current assets 521,540 461,847 Net assets 575,246 517,591 Funds of the charity Restricted Income lunds Restricted funds 20 104,245 57,429 Unrestricted Income funds Unrestrictrd funds 20 471,001 460,162 Total fvnds 575,246 517,591 These hnandal statements have been prepared In accordance wlth the.provisions applicable to charitable companies subjett to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 2nd December 2025 and were slgned on its behalf by.. A Ranklne Chair and Twstee The notes on pages 12 to 25 form an integral part of these financial statements io
Forest of Avon Trust Statement of cash flows Year Ended 31 Marth 2025 Reconclllation of net Income to net cash flow from operatlng artlvltles 2025 2024 Net income for the reportlng perfod (as per the statement of financial actlvltles) Depreciation charges (Gains)/losses on investments DNldends, interest and rent from investments Loss on disposal of fed assets Decrease/(increase) in debtors Increasel(decrease) Sn creditors 57,655 41,679 5,960 (1,905) (66,984) 4,288 829 (15,998) 675 773,835 1,379,OH (31,507) 865,997 Net cash provided by / (used In) operatlng actlvltles 829,216 184,352 2025 2024 Cash flows from operatlng actlvlties Net cash (used In) operating actlvities 829,216 2, 184,352 Cash flows from Investlng artlvities: Dlvldends, Interest and rents from Investsnents Payments to acquire fixed assets 66,984 (2,017) 15,998 (4,987) 14 Net Cash provlded by / (used In) Investlng artivities 64,967 11,011 Change In cash and cash equlvalents In the year 894,183 2,195,363 Cash and cash equlvalents at the beglnning of the year 2,923,455 728,092 Cash and cash equivalents at the end of the year 3,817,638 1923N55 11
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 March 2025 I Charity status The Charity is limited by guarantee, Incorporated In England and Wales, and consequentty does not have share capital. Each of the Twstees Is Ilable to contribute an amount not exceeding £10 towards the assets of the Charty in the event of liquidation. 2 Accounting pollcies Summary of slgnlflcant accountlng Polici and key accountlng estlmates The prlncipal accounting w>licies applied in the preparation of these financial statements are set out below. The polfcles have been conslstsntty applled to all the years presented unless otherwlse stated. Basis of preparatlon The financlal ststements of the Charty, which is a public benefit entty urKler FRS 102, have been prepared in accordan wth the Charitie5 SORP (FRS 102) 'Accountlng and Reportlng by Charities: Statement of Recommended Pract1 appllcable to charltles preparing thelr accounts In accordan wlth the Financlal Reportlng Stsndard applicable In the UK and Republic of Iland (FRS 102) (effective I January 2019),, Flnancial Reporting Standard 102 The Flnancjal Reporting Standard appllcable in the UK and Republic of Ireland, and the Companles Act 2006. The financial ststements have been prepared under the historical cost convention. The flnancial ststements are prepared In sterling whld) Is the functional currency of the charitable company and a rourmled to the nearest £. Golng concern The Trustees conslder that there are no materlal unrtaIntleS about the Charltys ablllty to contlnue as golng conrn nor any significant areas. of uncertainty that affect the carrylng value of assets held by the Charlty. ACntIng estlmates and key Judgements In the application of the Charity's accounting pollcles, Trustees a qUIred to make Judgements, estimates and assumptions about the carrying values of asts and liabilities that are not readily apPant from other Sour5. The estimates and underlying assumptlons a based on hSstorical experience and other factors that are considered to be relevant. Actual results may dlffer from these estimates. The estlmates and underlylng a5sumptlons are revlewed on an ongolng basls. Revislon to accountlng estirnates are recognised in the period in which the estimate is revised if the revision affects onty that period, or In the period of the revlsion and future perk)ds If the revision affects both the current and future periods. There are no key sources of estlmatlon unrtaInty that have a slgnlflcant effect on the amounts recognised in the financial ststements. 12
Forest of Avon Trust Notes to the Flnandal Statements for the Year Ended 31 March 2025 Income and endowments All income is recogni On the Charity ha5 entitlement to the income, It is probable that the income will be received and the amount of the income r5vable can be measured lIably. Donations and legacles Donations are recognised when the Charty has been notified Sn writing of both the amount and settlement date. In the event that a donatlon is subject to conditions that require a level of perf0rrnan by the Chanty befo the Charity is entitled to the funds, the income is deferred and not recognised until either those condrtions are fully met, or the fulfilment of those mnditions ts wholty within the control of the charity and it is probable that these condltions wlll be fulfllled in the reportln9 period. Grants recelvable Grants are recognised when the Charlty has an entltlement to the funds and any condltlons linked to the grants have been met. Where perfOnan conditions are attached to the grant and are yet to be meL the Income Is recognised as a Ilabllity and Included on the tsalan sheet as deferred Income to be released. DOrted goods, serylces and facllltles Donated goods, servlw or facilities are recognised as income when the Charty has control over the Item, any conditions assoclated wlth the donated item have been met, the reIpt of economlc benefft from the use by the Charty of the Item is probable and that economic benefft can be measured reliably. On receipt, donated goods, serrflces and faclllties are recognlsed on the basis of the value of the glft to the Charity which is the amount the charity would have been willing to pay to obtsln ServIS or facilities of equlvalent economlc beneflt on the open market; a correspondlng amount Is then recognlsed In expendItU In the period of receipt. Investment Income Interest on funds held on depos Is Included when recelvable and the amount can be measured rellably by the Charty; thls is normally upon notificatM)n of the Snterest pald or payable by the bank. Expendlture All expenditure Ss recognised On there Is a legal or construct5ve obligation to that expenditure, it Is probable settlement is required and the amount can be measur1 reliabty. All costs a allocated to the applicable expendlture heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basrs consistent with the use of source5, wlth ntral staff costs allocated on the basis of time spent, and depreclation charges allocated on the portion of the asset's use. Other 5UPPOrt costs a allated based on the spread of staff costs. All resour expended are Indusive of Irrecoverable VAT. Ralslng funds These are costs incurred in attracting voluntsry income, the management of investments and those incurred In tradlng activftles that raise funds. 13
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Charitable activitles Charitsble expenditure comprlses those costs incurred by the charlty In the deltvery of Its act5vities and seniices for its beneficiarles. It includes both costs that can be allocated directty to such activitles and those costs of an Indlrect nature necessary to support them. Support costs Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Governan costs are the cost associated with the governantr arrangements of the charity, including the cost of comptying with constitutional and statutory requirements and any cost assooated with the strateglc management of the Charity's ac(ivities. These cost have been allocated betWn cost of raislng funds and expendItU on charitable actlvltles on the followlng basls: RaSsing funds belng IO% (2024: 10%) Charitsble activities being 90% (2024: 90%) Governance $ts These Include the costs attributsble to the Charity's cornplian with constitutional and ststutory requirements, Including audr(, strateglc management and Trust meetlngs and relmbursed Irrncoverable VAT Irrecoverable VAT is charged against the category of resour expended for which it was Incurred. .Taxation 2010 and therefore It meets ttrie deflnltlon of a charltable company for UK corporatlon tax purposes. Accordingly, the charty is potsntially exempt from tsxatlon in respect of Income or capital galns recelved withln categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectlon 256 of the Taxatlon of Chargeable Galns Act 1992, to the extent that such income or gains a applied exclusively to charitable purposes. Tan9lble fixed assets Individual flxed assets costlng £150 or rn0 a Inltlally recorded at cost, less any subsequent accumulated depreciab'on and subsequent accumulated impainr£nt 105ses. Assets that cost less than £150 a immedlately written off as expendlture. Depreciation and amortlsation Depreciation is provided on tsnglble assets so as to write off the cost or valuation, less any estimated [dUal value, over thelr experted useful economic life as follows: Asset dass Furnlture and Offi equlpment Depreciation method and rate 33.33% stralght Ilne basls 14
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Fixed asset investments Fixed as*t investments are included at market value at the balan sheet date. Realised gains and losses on Investments are Gilculated as the differen between sale5 proceeds and their market value at the start of the year, or their subsequent o)st, and are chargeAI or credited to the Ststement of Finanaal Attiviti'es in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Flnancial Activities based on the market value at the year end Debtors Debtors are measured on initial recognition at settlement amount after any amounts advanced by the Charity. Subsequently they are rneasud at the cash or other consideration expected to be received. Cash and cash equivalents Cash and cash equivalents comprlse cash on hand and call deposits, and other short-tem highly liquld investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value Cr•dltors The Charity has creditors which are measured at settlement amounts. Fund structure Unrestricted Income funds are general funds that are available for use at the trustees, discretion in furtheran of the objectfves of the Charlty. Restrlcted income funds are those donated for use In a particular area or for speciflc purposes, the use of whlch is restricted to that area or purpose. Pensoons and oth•r post r•tlr•ment obllgatlons The Charity operates a defined contribution pension scherne which is a penslon plan under whlch fixed contrlbutions a pald Into a pension fund and the Charity has no legal or constructlve obligation to pay further contributions even if the fund does not hold sufficient assets to pay all ernployees the benefits lating to employee service in the current and prior periods Contrlbutions to defined contribution plans are recognised in the Statement of Flnancial Activities when they are due. If contrlbution payments exceed the contrlbutlon due for SeN1, the ex$ Is recognlsed as a prepayment. Flnancial Instruments The Charlty only has financial assets and Ilabilities of a kind that qualify as basic financial instruments. Financlal instruments are inits'ally recorded at transactlon value and subsequently measured at their settlement value. 15
Forest of Avon Trust Notss to the Finanaal Statements for the Year Ended 31 March 2025 3 Income from donatlons and legacies Unrestrlcted funds General Total 2025 funds Grants from companies, trusts and slmllar prOedS Donations from Indlvlduals 24,91S 3,492 19,107 44,022 3,492 Unrestrlrted funds General Restrlcted funds Total 2024 Grants from companles, trusts and slmSlar proceeds Donations from individuats 25,263 3,797 25,263 3,797 16
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from charitsble activities Unrestrfcted funds General Restricted funds Totsl 2025 Trees for aimate Forest Fridays Woodland Well-belng Dementla Project Woodland Advisory Consultancy Communlty Polllnator Fund - WECA One Tree Planted Western Forest Avon Needs Trees Bi9 Squeeze for Trees . 1,636,510 10,490 35,988 1,636,510 10,490 35,988 9,700 345 59,957 9,756 150,000 215,790 9,700 345 59,957 9,756 150,000 215,790 2 140 889 2 150 934 Unre9tr1cted Restrlcted fvnds funds General Total 2024 Trees for Climate Forest Frklays Woodland Well-being Dementia Project Woodland Advlsory Con5ultsncy One Tree Planted 1,299,282 1,299,282 13,645 34,615 45,734 935 13,645 34,615 45,734 935 135 772 1299 282 1435 054 5 Investment Income Unrestricted funds .General Total Interest receivable and simllar incor. Interest recelvable on bank deposlts Totsl for 2025 Total for 2024 17
Forest of Avon Trust Nrtes to the Finanaal Ststements for the Year Ended 31 March 2025 6 Expenditure on raising funds Unrestrlcted funds General Restricted funds Total 2025 Total 2024 Direct marketing Consultant fee Allocated support costs 1,972 20,970 7,856 2,968 21,674 6,454 20,970 7,856 7 Expendlture on charitable actlvities Unrestrlrted fvnds General Total 2025 Total 2024 funds Dlrect project costs Depreciation, amortisatlon and other similar o)sts Staff costs Allocated support costs Governan costs 1,912 I,S86,238 1,588,150 906,642 5,960 49,603 5,960 505,839 70,706 8,229 4,963 430,414 58,081 6,408 11 456,236 70,706 8,229 2 113 180 2 178 884 1406 508 8 Analysls of costs Unrestricted fvnds General Restrfcted funds Total 2025 Totsl 2024 Dlrert project costs Trees ft)r Climate Woodland Wellbe5ng Dementia Great Avon Wood costs Emergency Tree Fund costs Forest Frldays costs Overscourt cDsts ' Orchards for Pollinators costs Western FOSt B Squeeze for Trees other projects 1,368,251 2,397 1,368,251 2,397 819,676 78 53,866 5,912 16,973 4,412 56,648 6,316 56,648 6,316 27,012 104,946 20,668 27,012. 104,946 20,668 1,912 1,912 2,779 I S86 238 1588 150 906 642 18
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 Marth 2025 Anatysls of governance and support costs Ralslng funds expendlture Unrestricted funds General Total 2025 Total 2024 Basls of allocation offi sundries Travel and subsistence Telephone and internet Insuran Q)nsultant f Bank charges 5,735 159 361 1,295 283 23 5,73S 159 361 1,295 283 23 5,456 59 618 188 118 15 Charltable activitles expendlture Restrlcted funds Total 2025 Total 2024 Basis of allocatlon offi sundries Travel and subslsten Telephone and Internet Insuran Consultant fee Bank charges 51,619 1,428 3,246 11,657 2,548 51,619 1,428 3,246 11,657 2,548 208 49,101 530 5,566 1,688 1,062 134 Bas1$ of allocatlon Referenc• Method of allocatlon 90% of allocated support costs IO% of allocated support costs 19
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 Marth 2025 Governance costs Total funds 2025 Total funds 2024 Unrestrlcted Accounting and audlt 8,229 8,229 6,408 Total 9 Government grants The Charity recelves government grants and contract Sncome, defined as funding from South Gloucestershi Council, Bristol Clty Councll, Devon Partnershlp NHS Trust, West of England Combined Authority and DEFRA via Cheshlre West and Chester Counal to fund charitsble activities. The amunts of grants recognlsed In the Ilnanckl statements was £2,151,089 (2024 - £1,434, 119). There are no unfulfllled condltlons or contlngencles attached to these grants. 10 Net Incomlng/outgolng resourus 2025 2024 Net IncomSng resour for the year Include: Operating lease Depreciation of fixed assets 18,540 11,985 11 staff costs The aggregate payroll costs were as follows: 2025 2024 Staff costs durfng the year wern: Wages and salaries Social security iS Pension costs 449,113 36,437 10,054 378,681 28,974 ,137 495,604 415,792 Other stsffing costs (tralning, recruitment, travel) 10,235 14,622 Total staff costs 505 839 430 414 20
Forest of Avon Trust Notes to the Financial Ststements for the Year Ended 31 March 2025 . The monthly average number of persons (including senior management team) empbyed by the Charity during the year was as follows: 2025 2024 Average head count F1 time equtvalent 17 12 15 12 No employee reIved emoluments of more that £60,000 during the year. The totsl remuneration paid to key management personnel for their seNices to the Charty during the year was £71,437 (2024 - £70,169). There were no Trustees, remuneratlon or other beneffts for the year ended 31 March 2025 nor for the year ended 31 March 2024. There were no Trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 12 AudltorslIndependent examlnerfs remuneratoon 2025 2024 Audlt of the flnanclal ststements (Includlng adjustsnents) 13 Taxatlon The Charity is a registered charlty and Is therefore exempt from taxatlon on its charitsble actlvlties. 14 Tangible flxed assets Furnlture and ulpment Total Cost At l April 2024 Additions 16,801 2,017 16,801 2,017 At 31 March 2025 Depreclatlon At l April 2024 Charge for the year 5,638 5,960 5,638 5,960 At 31 March 2025 Net book value At 31 March 2025 At 31 Marth 2024 21
Forest of Avon Trust Notes to the Financial Statements for the Year Ended 31 March 2025 15 Flxed asset Investments M & G Investments Investment Totsl Cost or Valuation At l April 2024 Re4aluation 44,581 1,905 44,581 1,905 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Totsl Investment relate to funds Invested in the M&G Investments Charifund scheme. 16 Debtors 2025 2024 Trade debtors Accrued Income Prepayments 62,774 47,947 25,77S 54,766 136 OOD 104 493 17 Cash and cash •qulvalents 2025 2024 Cash at bank 3 817 639 2 923 455 18 Creditors: amounts falling due wlthln one year 2025 2024 Trade creditors Other taxatlon and soclal security Other creditors Accruals and deferred Income 825,556 8,734 202,953 2 394 856 3 432 099 594,035 9,683 2,801 1959 582 2 566 101 22
Notes to the Flnancl41 Statsm¢nts for th• Y••r End 31 March 2025 19 Penslon and other Kh•m•s Defin•d witrlbutlon p•n$lon sthem• The Charlty operatss a deflned contrityJlJon pension scheme. The penOn cost tharoe for the year repSents contjlbutlons payable by ts tharlty to the xheme and amcwjnted to £10,054 (2024 - £8,137). 20 Fund• •alanu Jt i Aprfl 2024 Other recognised Tr•nrf•Th g•lns1(loss•8) Ineomlnp ourc•• 31 Marth 1025 expended Unrestricted funds Gen•ral General funds Tolal uThve5tr1cted 471001 471001 105 436 Reed fvnd¥ for airnate- Capllal Trees for aimèts- Rever#Je We5tsm For Oonattons and legacles 57,429 1,755.618 235,271 150,000 19,107 11,828,055) (116.018) ( Iso,oth) ) ( 19,107) 15,008 (15,008) 101.245 T•tsl r•¥trkt•d 2 113 180 Tgtsl lufids 2 209 682 575 246 The spedftc purposes for whlch tr funds are to be applled are as lollows., Trees for aimatt- Oefra capltal and ffvenue fvndlng to the Forest of Avtyn Thist as one of Englan¢ls Communlty Forests, to deltr Tré•s for aimate tree and woodknd plantlng grants. At the year end. tran51ers were made to bdng the lunds In Ilne wth expettatjons, In the pdor year, don•lJt)ns for Forn Sthool acOvf(les rellthd donathns earffted for For¢st SclvJol. 23
Forest of Avon Trust Mote• to the Flnandal Statements for the Y¢Jr Ended 31 Marth 2025 8thlance at l Aprfl 2023 Oth•r r¢tognised Transfvr• ylTrsl{losws) In¢omlwJ A•souv¢•s •xpond•d 31 Mar¢h 24 Ilnrestricted fvnd$ General funds Totsl unreslrlctsd funds 475 912 475 912 195 751 195 751 829 829 Re•trl¢t•d fvnd• Te5 for aimats- Capltal Trees for Ulmatr- Reven T•tsl rn9th¢t•d fvn 1,048,766 250 516 1299 282 { 989.2921 252 561 1241853 (2.045) 57.429 Total fvndi 475 912 829 517 591 21 AlY$ll of net as8•ts b•tw••fi lund# Totsl lund• at 31 Mah 2015 fvnos G•nernl fund Tanglble flxed assets xed asset Investhnts 46,486 3,953,639 3 432 099 575 246 3,943,304 3 432 099 10,33S Currert Ilabllltle5 Total net awts Totsl lundi R••trt¢tsd at 31 Mar¢h lund• 2024 lund$ G•n•r Tanglbk Ted assets xed asset Investments Cuffent assets Current liabllltyes Totsl net assets 11,163 44,581 2,970,519 11,163 44,581 3.027.Y8 2 $66 101 S17 591 57.429 24
Forest of Avon Trust Noteg to the Flnanclal Statements for the Year Ended 31 March 2025 22 Rolatod party transactions There were no related paty transartlons In the current or prlor year. 23 Op•ratirtg l•aM wmmltments At 31 March 2025 the Charty had commitsnents to make further mlnlmum lease payments under nOnanlIable operatlng leases as follows: 2025 2024 Wlthln l year Within 2 and 5 years later than 5 yea 32.136 8,034 29,664 1,236