Watchtree Nature Reserve Limited IA company Ilrnlt¢d by gu•r•nt¢&l Annual Report and Financial Statements 31 March 2024 Company rogl$tratlon numb•r'. 05214585 Charlty r•gl•tratlon numb•r.' 1127029 dncDdd&co Wat¢htrè• Nature Reserve Limitèd Contents Relertn¢e and AdrninistratNe Details Trustees, report Tru51ees' rèsponsibili￿88 in relation to the finantial statements Independent exarninerf5 report Slalem8nl of financi85 8clivi118S Balance sheet Note5 to thè financial statements 10 Wat¢htree Nature Reserve Llmited R•for•nc• and Administrative D•tails Charity nam• Watthtree Nature Reserve Limited Charity fegistration number 1127029 Company registrntion number 05214585 Prlnclpal office Wat¢htr Great Orton CARLISLE CA5 6NL Registered office Watchtree Great Ort CARLISLE CAS 6NL Trustees C M Tinker R W Bushty WL F J Mawby RWSSpei N Latimer A G Roberts K A Jores IApptyn¢menl 1 November20231 J Fell I￿1p￿nte(I1 November 20231 Bankers The Ctroperative Bank PLC 1 Balknn st￿et MANCPIESTER M60 4EP Accountant Dod¢J & Co Audrt Limited FIFTEEN Roseh￿l Montgomery Way Rosehill Estate CARLISLE G41 2RW In¥estrnent Advlsor Oavid Atjen Finanaal SeINi￿$ Dalmar House Barras Lane Eslate Dalston CARLISLE CA5 7NY Page 1 Watchtree Natur• Rès•rv• Llmlted Trustees. Rèport for the Yèar Ended 31 March 2024 Thèse financial statements have LEen prepared in ac¢C￿danCe wlh Ihe aciy)untyng kx)Iicies sel out in Ihe accounts and ¢ornpty wth the chanty's g)vemin9 1*)tun*ni, the Char*i85 Acl 2011 and Accounling and Reporting by Ch8riks'. Statementof ReQXn￿nded Pracbce appli¢abl& ￿ the UK Republic of Ireland. Foroword by Rlch•rtl Sp•lrn. W•t¢htre• Chalr In our last Annual R8POrt we focused on progress agaw)st the Key Performance Intjicators IKPI's1 in our Slralegy Plan. Whilst th¢ report ¢onIa￿e￿ a knl of Inlormalion ￿gardIng vthai had happened in 2022.23 and vth8re p8rfonnanc8 h•J improved or r**ded a118nlKsn il ￿sn't exaclty a readabkn dc*um8nt. So. lor thi5 ￿Port * art going back to ow Ir*Jil*Jnal lormal lo let you kntm s¢)me ol the high points of the la51 12 months. We 51111 th towards our KPI'$ and measur8 our performance againsl them Thi5 inforn)ation is Important 10 assure potential hJr*Jef8 Ihal do ￿thIn èn Ove￿ Strategy and that ccffltinualty monltor how ￿ artr pr¢yJre5sIng. Stru￿￿r*, Qov•rn•nu. •bxI maM￿n￿ftt Gmrnlng Docurn•nt Th6 tompany was incofporaled on 25 August 2(X)4 a$ 8 ￿rnpanY hmiied by guaranlae and 18 governed by Ils morandum and Articles ol ASS￿18t￿)n. The company was registered *ith Ihe Charity Comrnission on 3 December 2008 (Charity numbgr 11270291 has a w$¢e￿d oifKe al W8tchtr8e. Gft8t Orton, Carfi$le. Cumbrkg. CA5 6NL. The Trustees are appolThMd by membwg 81 Ihg AGM. Tho Chair of t#)arf is ￿p￿SIble for Ihg induction of any rth Iru$1888. Obl•ctlv•• and Actlvltl•• The obj¢¢iwe$ of the charity are to.. Maintain. irnpro¥8 or Pmvhye pubk •menrties. Prornote lor the publt benefit the Watchlre• SI￿ In CumbriJ oTrY tts enykons. In parfkvlar by associaling local comrnunity organ158lion$ In 8 uJmftK)n effort lo advance educatv)n, 10 relieve pov8ty. nee(1 hardship. to provide facilities lor ￿$Sur0 c*Cupa￿ in the In*￿Sts ol sockql wellare and to conserya and impm Ihe ènwronrnenl. Th• charity mainiains Waichtffje N81urn Res8rye lor visitors, schrvJl parfivs and 9￿p$ •ftd conbnuas lo d8¥Mbp the wheelers facility providing cyclès for us& by dLsabked gp)LP$ and IndWidua￿. In selling Ihe ¢Jbjecls ol Ihe cwty. th• Irusiees hav8 paKI due ward lo the Charity ComMi88￿N guhyance on publit benefit. Rl¥l M•n•g•m•nt The Iruslees have assessed the rnajc* ri$k8 lo wh￿h the thanly Is ewsed. in particular iho$e relaled to Ihe opefalion$ and fin8nrM of Ihe charty and are salisf*n5 frotn you as trustees CA)nceming any such rnalter5. Tl* pro(*du￿$ undertaken do noi provide all the evidence that %￿)U￿￿ be required in afi audit and tonseouenlly no O￿nIOn is given a$ to whelh8r the accounts presenl a 'true otKI lai¢ ard the rep(Kl is hmiled lo maitsrs sel out in the slalernent bel¢xv. Inthp•nd•nt examlmys statemont In connection wth my examlfy9￿n. Th) matter has come to my atteThiW)n" 111 gives rr￿ reasonaL4e cause to that in any rnalerial resFect requirements." to keep ac￿JnI￿W records in accordancewth seCt￿n 386 ofthe Companies Act 2006.. and to prepare xo)unlS which Xcofd wffjlh the accounling ocords. (J)mply %wth the accounling fequiremenls of section 396 of IhÈ Companies Act 2006 and wrth the rnethods prin￿P￿S of the Ststement of Recornwded Prodte" and Reporting by Charibes have not been mei". or 121 to bvhich. In rny opinw. attenD"on S￿￿j t* dra￿ in order to enab￿ a proper uthletstanding of the a¢￿Un$ to be reached. FIFfEEN Ros8hAI nlgornery Way Rosehill Estaio CARLISLE CA12RW neTh linson FCA d & Co Limited hartered Accounlants 9 (knber2024 Watchtree Nature Reserve Limited Statement of Flnanclal ActSvltles Ilncludlng Income and Expenditure Account and Statement of Totsl Recognised Gains and Losses) for the Year Ended 31 March 2024 Unrestrlcted Re8trlctod Tatal Funds Total Fund8 Funds Funds 2024 2023 Not• Income Don8lions and leg8cie8 Other trading aclivilies Inveslmenl income 27,004 25,541 9.050 310,035 371,630 48,327 75,331 25,541 9,050 310,035 419,957 37,429 21.406 6.566 Ch8ri18ble 8Ctivilie8 265.291 330,692 Total income 48,327 Exp•ndltur• Chantable a¢tivbtl&$ 382,269 2.587 384,836 32.456 414,725 2,587 417,292 346,574 2,512 349,086 Cosl of raising lunds To181 ¥xp¥ndilure 32,456 Transfer• Transfers be￿een lund6 19,3011 9,301 G81n￿{lO$S83I on Inveslmenl 8ssels 31.248 31,248 123.7411 Nel in￿m?1[0Xp9ndIlUreI 8,741 25,172 33,913 142,1351 ReconcSllatlon of fund8 Totgl funds brought lo￿ard Tolal funds carried fo￿ard 479,073 487,814 18.310 497.383 539.518 43,482 531,296 497,383 All of Ihe Charity'5 activities derive from continuing op&rations during the above periods. The notes on pages 10 to 23 fomi an inle9ral part ol these financial sl8tomont$. Page 7 Watchtree Nature Reser4e Llmited Company reglstratlon number.. 05214S85 8Blanee Sheet as at 31 March 2024 2024 2023 Note Fixed 3s?ets Tangible assets Invesiments 77.498 243.586 321.084 70.597 262.465 333,062 12 Current •ssets Stocks and in pro9￿$$ Debtors Cash al bank and in hand 1.￿6 12,352 240,156 254,504 1,500 5.307 182,494 189.301 13 CreditOfS'. Amounts falling due within ohe y&ai 144,2921 124,9801 Nèt current assets 210.212 164.321 Net assets 531.298 497.383 The funds of tho ¢harlty'. Restrlcted funds In surplu5 R95tri¢¢Èd funds In demclt Jubilee Wood Total restricted funds 43.482 23,840 15,5301 18,310 43,482 Unre9tdcted funds Unreslricled income funds 487.814 479,073 Totol ¢harlty funds 531.296 497.383 The note$ on pages 10 to 23 form an integral part of thes8 financial 5talOmonts. Page 8 Watchtree Nature Res•rve Llmited Company regi$tsatlon numb•r: 05214585 B•lanc• Shwt a$ at 31 March 2024 .. coniinu8d For the financol year ended 31 Klar¢h 2024, thè ¢haritywJs enllued to exernplion trom audll under section 477 of Companies Act 2006. The memter5 have not requtred the charity to an athjit of its xcounts lor the year in question in actor<1•￿e sect*)Tr 476 01 the Acl The directors 8cknowl8dge ￿5￿nSibIli1*S ctyiiptyirMJ wrilh re4uiremenls of the kl ￿1h ￿pect to sccouniing record$ and the preparalion of accwnts. These accounts have been pr8par•d in *ctydanc8 the proVi5*J￿ ¥pr4Kablg to cr*npBnies subject to th8 small cornpanl•¥ rogirno. AppThi•d by Ihe Boarf on 9 C*ioter 2024 and ¥b3ned on ts beh￿rtsy.. RWsS￿lrS Twstee The Th)tes ￿ pw 10 to 23 fowm an inw9￿ part ofthesa finarrial staiemgnts. p￿89 Watetttree Nature Reserve Llmlted Notes to the Financial Statements for the Year Ended 31 March 2024 Accounting policie¥ Summary of 8lgnlflcant accountlng pollcles and k•y aC¢¢*untlng e$tlmates The pnncipal accounting policies applied in the poparalion of these financial st?lemenls are sel out below. These policies have been consisieniiy applied to all the years pre8enl8d. un18SS Othe￿iSe ststeé. ststement ol compliance The financial 51alernerit5 have been prepared in al￿ordance *ith Accounting 8nd RepoTting by Charilie8'. Slalemenl of R8commend&d Practice applicable 10 chafilies preparing their accounts In accorllance wth the Finantial RÈporting Standard applicable in the UK and Republic of Ireland IFRS 1021 letteclive 1 January 20191- Ichanlies SORP IFRS 10211. the Financial R8PDrtsng Standard applKabl8 in the UK and R8public of I￿land IFRS 1021 and the Compankgs Act 2006. Ba¥15 of preparatioh The charitable company tneets the definilk)n of a publK b8n8fit enlily under FRS 102. Assets and liabilitie5 ar8 initfdlly recognised al historical c051 or transaction value unless othe￿ise ststed in the ￿levant ac¢ounling policy noi&s. Going con¢ern These financial slatements have beÈn prepared on a going concern bas￿. The twstee5 a55e55 whether the use of going concern is appropriate i.e. whether the￿ ar8 any material uncertainties ￿lated lo events or conditions that may cast significant doubt on the ability of the Ghanly to conlinue as a going concern. The trustee5 make this asses5rnenl In ￿SPeCI of a period of one year frorn the dale of approval of Ihe financial statements. Fund accountlng pollcy Unrtstri¢ied In¢ome funds are general funds that are available for use al the Irustses, discretion in lurtherance of the obje￿IveS of the charity. Restr￿ted income funds ar8 those donated for use in a parti¢ular awa or for Specific purpos8S. the u$& of which 15 re51ri¢led to that arÈa or purpo88. D8signal&d funds are unrestricted funds sel aside al tho dis¢r$tion of the trustees for swcific purpose5. Further details of each fund a￿ disclosed In note 18. Page 10 Watchtree Nature Reserve Limited Notès to the Flnancial Statemgnts for th• Year Ended 31 March 2024 . continued In¢omp and ¢ttdowment8 Donations are recognised when the Chanly has been notified In writing of both the amount and settiem8nt date. In the event that a donation is subject 10 eondilions Ihal require a level of performance by the Charity before the Charity is enliled 10 the funds, the inGome is deferred and not recognised until either those conditions a￿ fulty mel. or Ihe fullilment of those condition$ Is wholly within the control of the Charity and it is probablg that these conditions W￿11 bè fulfilled in the reporting perioLI. Legacy gift5 are recognised on a case by casÈ basis followng the grant of probate when the adminislorlexeculor for the estate has communicgted in writing both the amount and sett￿Ment dale In the event that the gift is In the form of an asset other than cash or a financial asset traded on a r8cognised stock exchange. ￿cognit￿)n Is subject lo the value of the gift being ￿liablY measured with a degree of reasonable accuracy and the lime to the asset having been Iransferrad lo the Charity. Income from &>v&rnmenl an(J other grants. whelher'tapilal. grants or'r8venue' grants. is ￿togniSed when th8 charity has enli118m8nl10 the funds, any p&rformance conditions atta¢hed lo the grants have been tr*1. it Is probable that the Income will be ￿¢¢￿Ved and the amount Can be measured reliably and Is not deferyed. Deferred in¢otne ￿p￿SentS amounts received for future perK)d5 Is released to i￿orning ￿sourceS in the period for which. it ha$ been r8CeiV8d. Such in¢ome is only dglerred when.. The donor specifies that the grant or donation must only be used in future a¢¢ounting periods., or The donor has imposed conditions which rnu51 ￿ mei before the charity has unconditional enliUem&nt. Cafe income and Income deriv8d trorn evenl$ Is re¢ogni$8d as earn8d (that is. as the wlat8d good5 or services a￿ prowdedl. Invesltnenl Income is recognised on a receivabl8 basi$. In(x)ms Irom eharilabl8 activities includes Incom8 recognised as earnod las the related gOr￿S or servi¢os a￿ provided) under contract. Expenditure Liabilitie5 are recognisetl as soon as there is 8 legal or constru¢tDie obligation committin9 the charity to th8 e¥penditure. All expenditure is accounted for on an a¢¢ruals basis and h8s been classified under headings that aggregate all costs relaiet$ 10 the caiegory. Charitable expenditur& comprises those c0515 Incurred by the charity in the delivery of 11$ aeliviti&s and setvicÈs for Ils beneficiaries. 11 includes bolh Costs that be allocèled directly lo such activities and those costs ol an indirect nature necessary lo support them. Support c￿ts Support costs inclu¢lè central functions and have been allocated lo activity cost cal8gorie5 on a basis con8lSt8nl with the use of resources, for exampl&. alloc2ling property C051$ by flcx)r areas, or per capita. staff c051s by Ihe time spent and other costs by their usage. Irrecovorable VAT InEcoverable VAT is charged against the ¢ategory of r&sources expended forwhi¢h il was incurred. Taxatlon The Charity 1$ ¢on$1da￿d 10 pass the t88ts set oul in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il rneels the definitian of a charitable COTnpany for UK corpor8tion tax purposes. Accordingly. the Charity is potentially exempl from laxalion in respect of Income or capital gains reGeived ￿thIn cèlegories covered by Chapter 3 P8rt 11 ofthe CorpDralK>n Tax Act 2010 or Seclion 256 of the Taxation ol Char9eable Galns Act 1992. to the &Ktent that such income or galns are applied exclusivgly lo tharitsble purpos&s. PagÈ11 Watchtree Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 Ma￿h 2024 Ftxed a880ts IndivkJual fixed assets costing £1￿ ormt*e a￿ init*lly recA)rded at ￿$t. D¢p￿¢1)I￿on 0aprecial1￿ is provKled on fixed assets so as lo wte off tl* ts)st or valualb)Th. K8ss any e5tirnate(I residual value. over their expected uselul ￿￿)r￿lMI¢ life as follo￿.. PLanl arKI m*hinery Fixtures and filbrvjs CLxnputer equipN*nt 25% re(Juury ba￿n￿ basis 25% redwryJ baL4n¢e ba$6 25% reduting boL4n¢* basis Inw•stm•nts Fixed assei Investn￿nIS are included at rnarkoivalue aithe balarth she8tdate. R8alised gains aThJ b5ses on investh*nts are calcldated as the dthefen(* between sales proceeds and their market Value at the start of the yw. or their subs4u8nt o)st. and are clwrged or credited lo Ihe Slaternent of financial actMt*s in the perwxl of dtsrKwl. Unrealised gains and bjsses repre5enl Ihe movement in market values thring the year and are credited or ¢harged to ststement of finarK•al actMIEs based on the marf(et al the yeareTrJ. Stock Stoek is valued at the I￿r of cost and nel realrsable wdlue. alter due ward for Obso￿te and slow moving 51ocks. Nel rt31isyb￿ walue is based on selling price less antscipaied (Xjsts lo ¢X)mplet￿n and selling cosls. Items ck)nalgJ for or dL%lributh)n are not indLNled in Ihe fThncial statements ufitsi they are sokl or di$tnbuied Trade D•btor8 Trade debtor5 a￿ an￿Unts due from euslorr*rs for rner¢hand￿ 50hJ or serwces perforrned in the ordinary ursÈ of business. Trade debtor5 a￿ recrynsed initth al the transaction pl￿e. They are subsequent measured al amortised cosl using the effectNe Interest mellw)d. less proMsK)n for Impairrnent. A provi5K)n for the Impaimient of ttsde debtors Is estsblished when tr*re is Objec￿Ve eV¥Jer￿e tkk3t the Charity will not be able lo colknl all ar￿)Unts due ￿e0rdIng lo Ihe original teFrns of the w*Na￿e$. Cash and Cash Equlvalents Cash and cash equiva*nts cofflpnse cash on hand and call (*kM)sits. and other short4emi huhty liquKI investments that are re*Jity C￿vertible to a amuntof r2sh and are subject to an In519nfficant risk of change in YdlJe. Trade ¢reditors a￿ obligai*)ns to pay lor gLMNJs or serw£e5 tkwt have been acquired in the ordinary ¢outse of busness frorn supplie￿. Ac(a)unts payabb8 are dasSrf￿d as curTenl liaixlityes rf the Charity does ￿1 have an ur￿0ndItIOnal nghl, al Ihe end of ttE retxjrting F*WKKI. to defer sett18ment of the creditor for at least t*elve mnlhs after the reporting dale 11 ￿re 15 an unC0￿￿onal right to defer seltlement for at least e rnonths after the rekwJrbNJ da*. they are pf8sented as ncfroJThenl liabilites. Tfade c￿drtQrs are recognised Inthaty at tr* tranwtK)n pnce and subsequenuy Tneasured at amorbsed cost u$in9 the effectNe Intefesl rfvèlhod. Page 12 Watchtree Nature Reserve Llmbtèd Notes to the Financial Statèments lor the Yèar Ended 31 March 2024 . contiN>ued Operatlng beases Laasès in which subslanlially all the risk5 and rewards of ownership a￿ retsined by the lessor are classified as operating leases. Rentals payable under operating leases are charg8d in Ihe Statement of Financial Activities Dn 8 Straight line basi5 over the leas8 term. P•nslon• The charity operates a defined ¢oniribution p8nsion sch8me. Coniribulions are charged In thè statement or finan¢ial activities as they become Payab￿ In accordance with th8 rules of the scheme Flnancial Instruments Financial a55et5 and financial liabilities are recognised when the ¢hanty b&comes a party to the ¢onlraclu81 provisions of th8 instrument. Financial IK4bililies and equity instruments are classified accordin9 to the Substan￿ of the ¢ontractual affèngem8nls entered into. An equity instrument is any conlracl Ihal avidences a reshdual intere51 in the assets of the Charity after deducting all of Its IK4bllltle8. I rinan¢ial assets and Iiabililies are initially meagured al transaction price (including ltsnsaclion costsl. except for thos8 financial assels classlffed as at fair Val￿ through profil or los$. which are initially rneasu￿d al fair value Ibvhi¢h 15 normally the transaction price ex¢luding transaction coslsl. unle55 the arrangement constilules a financing Iransaciion. If an arrangement constitutes a financing transaction. the financ￿21 asset or financial liability Is measured at the present value of the future payment5 discounted al a market rate of interestfor 8 sirni18rdebt instrument. Financial assÈt5 and Iiabililies are onty oftset in the 5ts1ement ol financial po51t￿n when. and only when ther¢ Èxists a legally enforceable right lo sel ofl the recognised arnounts and thè Charity intends eitl*r to settle on a nel ba51$. or lo realise the asset and seiue the Iiabilily simullaneou51y. Financial assets ère dereccgnised when and only when al the contractual nghts lo the cash flows from the financial asset expire tsr are settled. bl the Charity IransfÈrs kn another party subslanlially all of the risks and rewards of ownership of the finan¢ial asset, or cl the Charity. dè5piie having r8lain8d sorne. byl not all, 5ignifi¢anl risks and rewards of ownership. has transferred control of the asset lo another party. Financial Iiabilitse8 are dereLwnised only when the obligation Spe￿fied in the contract is dischar9ed. Gancelled tsr expires. Pagè 13 Watehtree Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Oonations and lègaciès Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Donation¥ and legacies Legacies and bequests Appeals and donations Sponsorship Calendar donations 1,933 15.294 17.570 2.165 7.269 27.(K)4 17.570 4.165 7,269 29,004 8.284 25.511 Grants Cumbria Communlty Foundath RPA Other agen(ies Joyce Wilkinson Emest Cook 970 12.885 13,442 12.885 13.442 8,573 2,375 20,( 46,327 46.327 11.918 27.(K 48.327 75.331 37,429 Of the donations and legacies in¢Mie in 2023. £30.659 related to unrestricteil funds and £6.770 related to reStri￿e￿ funds. Cxher trading activities Un￿trIc￿d R•striet•d Total Funds Total Funds Funds Funds 2024 2023 Sale of bikes and parls 25.541 25.541 21,4(6 All ol the other trading a￿1VitieS income in 2023 related to unrestricted fvnds. In￿stMent income Unrestriettd Restricted Total Funds Total Fundg Funds Fun(ts 2024 2023 Dividends and interest receive(I Bank interest 4.934 4.116 9,050 4.842 1.724 4.116 9,050 All of Ihe inveslment inwme in 2023 related to uniestncie(l ftjnds. Page 14 Watchtree Nature Reserve Llmlted Noles to the Financial Ststements for the Year Ended 31 March 2024 eonfrnued Charitable activttie¥ Unrestrfeted Restricted Total Funds Total Funds FuThJs Funds 2024 J23 Membetship Cyde irKorne Cale Sa￿$ Gts￿ng income Educatvn and evetsts irw Other irKome 25.328 61.837 184.629 3.520 15,152 19.569 310.035 25.328 61.837 184.629 3.520 15,152 19.569 310.035 24.780 57.618 145.021 3.620 15.951 18.301 265.291 l of the ir#x)me from Charitab￿ actNiW n 2023 related to unrestricted funds. Page 15 Watchtree Naiure Rès•rie Llmlted Notes to the Finanelal Statements lor the Y•ar Endèd 31 March 2024 cont￿L￿d Expendlturn Natur• r•sory• In¥e8tm•nt rn•nag•m- •nt Total 2024 Tot41 2023 Dlrn¢t ¢o•ts Purchases W8ge5 and salaries Staff NIC IEmpbyar•l Staff pension5 Land rnainienance Portlolio managernonlco$ls Insurance Repairs and rnainl8nanc* Hire of plant machirK•ry D¢precialion of pLqnl mxhirnry 91.972 239,717 91,972 239,717 7.0( 8.751 1,804 2.567 5.308 4.551 2.168 22,393 386,037 68.744 193,705 5.765 7.769 1.010 2.512 5.129 9.231 8.751 2.567 4.551 2,168 22.393 383.470 21.717 316.386 2.567 Support cMts Staff Irèining Volunio•f oxpen• Te￿Phone and fax CoMp￿•r sofv8r* ar￿ m•int•Thanc8 c08ts Pnnling, poslage and ststh)n•ry Sundry trxpen¥•i Athertising Atcountsncy lees Independent 8XaMi￿rI 199 Legal and woless#￿ 1é•s 8ank charges IProfil>lb55 on Sale of thngibbo fixed a88•ts hehj chantya ovm 765 1.677 1,078 2.987 2.676 1,312 2,081 S,562 765 1,677 1.078 2,987 2.676 1,312 2,081 5,562 soo 7.036 S,581 3.454 1.285 4.429 2.822 1.290 1.386 3.623 7.036 5.581 S.844 5.426 1.073 31.255 31.255 32,720 414.725 2,567 417.292 349.086 Of eX￿ndItUTe in 2023. £346.574 ￿k￿led to unre5tnctgd fvnd5 and £2.512 related 10 restricted funds. Pa98 16 Watchtree Natur• Rèserv• Llmlted Notes to the Financial Stst¢mènts for the Y¢•r Ended 31 March 2024 . conb"n Governance costs 2024 2023 Accountsncy fee5 Independenl examinevs fee Legal and professional fee5 Portfolio rnan8gementfee5 5,562 SW 7,036 2,567 15,665 3.623 500 5,844 2.512 12.479 Trustees. remuneratlon •hd expense8 During the year no Iru51ee5 weo rèimbursed expen5es12023." £nill. No Iruslees r8ceived any remuner8tion during the year. Net In¢tsm•ll•xp•ndlturel Net Incom81lexpenditur81 15 51at¥d after charging.. 2024 2023 (Profitllloss on disposal of tangible fixed assets Dev￿claI10n oft8ngibla fixed assets 1.073 21.717 22,393 10 Employe￿, r•munoratlon The rnonlhly average numb8r of persons (including senior manag8m8nll 8rnploy&d by th8 charity during Ihe year wès as follows.. 2024 2023 No. Charitable a¢bvitles 27 20 Th8 aggregate payroll cos15 of these persons were as folow5" 2024 2023 Wages and salarie$ Social 8ecurity Other pension costs 239.717 7.006 8,751 255.474 193,705 5,765 7,769 207.239 No employee received emoluments of more than £60.000 during the year. The key managetnent prsonnel comprise Ihe Trnsl&e5 and reserve manager The loial 8mployee benefils of the key rnanagement pÈrsonnel of the Charity We￿ £37.22612023- £34,190). Page 17 Watchtree Nattbrg Reservè Llmited Notes to the Financial StatÈm•nts for the Yoar Ended 31 March 2024 11 Tanllible fixed assets Plant and machinery Flxture irKluding motor fittIn￿ and vehicle8 equipm¢nt Total ost As 81 1 April 2023 Aiklilions As al 31 MardL 2024 94.226 8.443 102.669 89,865 20.852 110.737 184.111 29,295 213.406 Depreciation As at 1 Apnl 2023 Charge for the year As at 31 March 2024 69.108 8.644 77.752 113.514 22.394 135.908 13.750 58.156 Nt¢ book value As at 31 March 2024 As at 31 March 2023 44.513 49.82CI 32.985 20,777 77.498 70.597 12 Inveslrnents held 8$ lfjxed ￿Set$ Listrd Inve8tmFnts Alarket ¥alue As ai 1 April 2023 Revalual*Jn C115posats As al 31 March 2024 262.465 15.988 134.8671 243,586 N•t book valuè As al 31 March 2024 As 8131 March 2023 243.586 262.465 All inve51mentassets f*ld in the UK. Ll$¢ed Inve*tments InvesttrEnts having a ￿t bcok (rf £243.586 12023 - £262.4651 are listed on a ￿¢(￿JnISed stock exthange and had a market value of £243.586 al Ihe eThl of year12023- E262.4651. PwJe 18 Watchtree Nature Res•Ne Llmlted Notes to the Flnancial Statements for the Year Ended 31 March 2024 . coniinued 13 O•btor• 2024 2023 Trad8 debtors Prepayment8 and accwed income 2.215 10.137 12.352 1,676 3,631 5,307 14 ¢r•dltor•'. Amounts falllng duo wlthln on• year 2024 2023 TrBde cr8dilors TaxBlion and social secudty Accruals 8nd deferred In￿Me 9.587 13,074 21.831 44,292 1.868 9,527 13,585 24,980 Credltors amounts falling due within one year include5 deferred incom•.' 2024 2023 As ai 1 April 2023 Amount deferrèd in thè y•8r AS 8131 March 2024 10,622 333 10,95S 9.935 687 10.622 15 M•mb•rs' Il•blllty The charlty 18 a privato Company limited by gu8fanlOe and con8oquenJy doo9 not h8V8 Share capit#l. E8¢h of the member8 18 118ble to conlribule sn amount not exceedlng £1 tOW8rd8 the a88èts of the ¢harlty In the evonl of liquidation. 16 P•n•lon •¢hgm• D•flned contrfbutlon pen•knn •¢h•m• The ¢harily operates a defined contribution pension scheme. The pension c05t charge for the p•ric*t ropresents conlribulion$ payable by the charily lo the Sc￿me and amounted lo £8.75112023. £7,769). T￿re were no outstandirYJ or Prepaid contributions 81 either the beginning or end of the financial y88r. P89& 19 W•t¢htréè Nature ReseNe Llmlted Notes to the Flnanclal Statements for the Yoar Endèd 31 March 2024 . ¢onliniJèd 17 R•l•ted p•rth• Controlllng •ntlty The charlly 5$ controlled by th8 Irusle8s %tho a￿ all dlre¢iors of the company. 10 Analy818 of funds Other r•co9nl$•d galnsl At31 March 2024 At 1 Aprll Incomlng R••our¢•• 2023 r••ourc•i •xp•nd•d Trnn•hr• 0•81gn•t•d Fund* Genoral purpos8 r8$ervg fund Oesignaltsd re$eNe lund 200.000 200,000 400,000 200,000 200,000 400,000 G•n•ral Fundj Gengral unro$iricled funds 479,073 371,830 1384,8361 1409,3011 31,248 87,814 R••trlcted Funds Trail Projecl Educgtion Peopl88 Project Kitchen Relurbishmènt CCF Tools & equipmenl Jubi188 Wood Educatlon Fund 18,900 3,400 13,4881 18,812 20,000 20,000 4,027 913 15,5301 113,3281 9.301 913 3,757 12,885 12,042 48,327 13.5981 112,0421 132.4561 18,310 9.301 43,482 497,383 419,957 1417.2921 31,248 531,296 Gerftr81 purposè rèsoN6 fund. Funds to provhle six rnonlhs 5alarie$ and employers, Nl conlributions. Redund8n¢y1I8blIl￿aSIaTh1 requirod notice perlodl based on $tstutory minimum paymenls for all staff. Designated re5erwe fund.. Funds lo maintain, repair and improve premises and 18cillties owned and held on lea50. Sums 10 ¢onlriOule to exiernal grant fundlng for specsfic dev8lopmen15 8s per Strategy Plan Obje¢liv8. Page 20 Watchtree Nature Reserve Llmlted Notes to the Financial Statements for the Yèar EndÈd 31 March 2024 . GonfynL18d Trail Prtsp¢t.. The fund is being used to re-surface existing mulli-use trai15 to improve the recreatK)n Walchtr88 Nature Reserve offers 10 th8 community tnaking il a¢¢essible to all. Education Peoples Projecl.. A 3 year fund through Ernest Cook lo contnbute towards an e(lucation officer sBlary. Kilchen Refurbishmenl.. A fund lo update the tscililies in the re5erye Cafe's kitchen to widen ifs appeal and Increasa it's capabilitie5. CCF Tods and Equipment.. A grant received for the acquisition of tools necessary for ongoing charitable operdtions. Jubliee Wood".A grant receiveé tOW8rd5 planiing trees within the nature ￿Serve. Education fund.. Miscellaneou5 grants re¢eived for the ongoing provi$K)n of educational workshops and actiwit￿s. Page 21 Watchtrne Na￿re Reserve Llmltèd Notss to the Financial Statements for the Year Ended 31 March 2024 conb.nusd Prlor pedod At 1 Apwll 2022 In¢omi R•$our¢•$ re8ources expended At 31 March 2023 Trnnsfers COgn4ed 9alnsl losse45 Gen¢rnl Funds General un￿Strj¢te funds 510,538 323,922 1335.6451 3,999 123.7411 479,073 Restrlctod Fund$ Trail Project Education Peoples Project Kitchen Refurbi5hmenl Adaptive Fleet Repla￿ment CCF T(K)Is & Equipment jubi￿ WLknJ 18.￿N) 18.￿0 5,054 2.300 IT.3541 4.027 1.027 3.￿0 13,9991 970 157) 16.0301 113.4411 913 15.5301 18,310 28.980 6.770 13.9991 539.518 330.692 1349.0861 123.7411 497,383 19 Transfern Th8 Ir8rn5fer from unr8slrthd furKls to reslricled fvrxts ￿presents 3n overspend of reslrided grant incom8 receDied for the purkK)5e5 of krtchen refurbtshmenL Th8 transferWIh￿ unreslriGled furth ￿lateS to the ￿e￿￿#b"on of fuNJ5 by trustees for Specif￿ pU￿oSe$. W•t¢htree Nature Reserve Llrnited Notes to the Flnancial Statements for th? Year Ended 31 March 2024 . conlinued 20 Net •s•e¢$ by fund Unrestrlcted Fund¥ Restrlcted Funds Total Funds 2024 Total Funds 2023 Tangible assets Inveslrnents Current assets Credilofs". Amounts falling due *ilhin one year Nel as5els n.498 243.586 211.D22 77,498 243.586 254.504 70,597 262.485 189.301 43,482 144.2921 487.814 144.2921 531,296 124.9801 49T,383 43.482 Prior porlod Uhrestrlctsd Fund5 Restrfctsd Funds Total Fund8 2023 Total Fund8 2022 Tangibl& assets Investments Current assets Cr8dilor5." Amounts falling due thin one year Nel assets 70.597 262.465 170,991 70.597 262,465 189,301 71.640 286,187 202,471 18.310 120,7801 539,518 124.9801 124.9801 479,073 18.310 497,383 Page 23