CHARITY COMMISSION Watchtree Nature Reserve Limited IA company Ilmtt•d by guarnntsèl Annual Report and Financial ststements 31 March 2025 Company reglstratlon number: 0521458S Charity reglstrallon number: 1127029 dOdd&co
Watchtreo Nature Reserve Llrnltod Contents Refer&rKe artd AdMknlstraYe Delail Chalrn's Report TnBtses' rwrt Tw$iee$' responsibililiB5 in rèlation io the fmancial st#tements Independenl examin8rfs report 12 13 statement ol flnancial livie$ 14 BalaTh Sheet 15 Cash flow slat8merrt 16 Not95 to th¢ finana#l statements 17
Watchtree Naturg Reserve Limlted Rthr•nco •nd Admlnlslratlve Detalls Charlty nam• Watchlree Nature ReseNe mited Charlty r•gistrion numb•r 1127029 Company r¢gl$¢rntlon numbèr 05214585 Pvincipal olTK• W8tchtree Great Ortgn CARLISLE CA5 6NL R¢gl•t•rnd offic• Watchtr88 Great Orton CARLISLE CA5 6NL Trusto•$ C M Tink•r B Bowe R W Bushby W LItUe IRgsiw8d 30 June 20251 F J Ma%Y R W S Speirs N Latlmer A G Roberts K A Jongs J Fell A Nordon 8anker$ The Co-Coralivg Bank PLC 1 BAlltsn Stt MANCHESTER M60 4EP Accountant Dodd & Co Llmited FIFTEEN Rosehlll Montgomery Way Rosehill Estat? CARLISLE CAI 2RW Inv•slment Advl$or Dawd AIK8n Flnancial Serwcgs Dalmar Hoksse Barras Lane Estatg DaL8ttsn CARLISLE CAS 7NY Pogo 1
Watchtrge Naturo Reserve Limited Chaimian'$ Report Annual Rèport 2024-25 In last yearfs Annual Report we returrted to our iraditi0Tr81 fonnat to you know 80m8 of the high points of Iho Previous 12 rnonlh5. We stlll retain and MA)rk towards Ihe Key PèrfoTmance Indicators IKPII thin our Slralegy Plan as these provide a measure our perfoTrn3n. The KPI information is important to infom pot&nt181 fijndgrs that we work %h1n 8 Strategy and that we ¢ontinu8lly monllor how we ar8 progressing. If you are inter8St8d in our stragY Plan you can find it on the Watchtree Web5rte under the R&8ources tab At the top of the opening pa9e. Mtp$Jlwat¢htre•.¢o.ukl This introduction provide8 0 condensed ovèNOaw olthe ffiain points from 2024-25. Flnan¢e: l pl8ased to repori that wa ended the financial y8ar on a positive note. producing a sllght pror Thlg was largely du8 to the hard work of everygrE in deallng th Incre8S8d V$tor numb6rs al a whèn Our overh8ad costs conts'nue lo grow signfflcanly. For the 202&26 financlal year we 11 have to work even smarter as the chawJes in thg October 2024 budget will hrt &ll tharitios regarding the Increases to Emph)yers National Insurancoand th& In Iho The Real Living Wag• vlhich wf pay at Watchtree rathèr than #ie Nationa1 Living Vvage. We are alrèady making plans to deal the impact %thich. on an Inltial calrxjlation, 1$ lik9fy to raise our stsff costs by over £26.000. We have laced similgr challenge$ in the p8sI and have ay$ managed to address them. Watchtree prides itself on being resourcefvl and working to tighl budggts lik8 Tnost Charlles and 5 hop8 We can Contin to count on your Support as Members visitors alike. * T•om growth and volunteer support: The ReseNa's team comprises 31 Sthff and 52 volunteers contributing over 33,000 hours onnualty, with new staff wethmgd and volunteer hours up 140h. Tgam-building events and tralnlnq have strengtheneil connetlions and skil. . M8rnber5hip and fundr8lslng-. Membership rémains steady al 1,117 mèmbers generabn9 £32,415. Supsy)rted by donauons and fundraising events like the Wildlife Calendar and Mmunity trails, raised £10.907 in totÈl. Habltat and •st•t•$ Improvemènts: lacking a pearent base. the Habltst and Eststes Team 5ecur8d a donated shipping contalner and new ATV. enhhnclng our operational cèpaeity. Ongolng MaIntanCe include5 )dIan thinning. hedge laying. and managin9 9r8zing 1th Jcal farmers. Infra$tructure prolacts: Funded by the Rural EnglaTrJ Prosperity Fund. projects included Overf p8rking Installation, a dèer lence to protect the Educauon Zone and elevated boardwalks to Improve Ihe footpaths In the Balfour 8•atty partn•rshlp". The local Balfour Beatty team provides much Appreciot8d PTactic81 support and hosts an annual volunteer day, eontrfbutln9 to Edu¢ation Zona improvements honouring a fomier uJ118ague'$ acy. Wildllf• obs•ThTOtions.' A spring and summèr led lo rJuC•d Insoct and blrd number8. though seven n moth species w•ro ra¢ordad. Con$wvation efforts conllnue amid chaleNJes k'ke deer brow3ing and tiabitat changes. Education and wellbelng ¢xpan8ion-. The resèrve IM>8t4d 1,119 Chlldrgn from 50 sthols and 45 lQds' Club ssssions. New Initiatives Include, Govèrnment supported HolKlayActivily and Food sessions, SEND short breBk5 and Woodland Wellbeing programm88, all achleved through ongolng communily and corptsratè funding $UPPOrt. . Cy¢l hlr• and maint•nanee growth: cer 11,000 blke$ w8ra hlr6d. with an expand8d Coachlng team and increased income from workshop serwce5 and bd(e sales. 1 of which supported Ihe upkeep of the fleet and helped to make the servicè mtsr& sustainable. Evonts and marketlng $u¢¢g$8.' A diverse event pwrdmrne attracied parpaThls to runs, walks. and natu t81ks, aldsd by volunteer efforts and partnerships like Cumbrw Tourlsm's campaign. The usts of social rn¢di influgncer5 has also raised awarenes5 of lthat Wat¢htrÈe has on tsffèr. . Grant fundlng and futuro outlook: signifnt grant$ supprwied tyjr Tale Trails. Education Zone Tegen&rathon. ATV purchase and Wellbeing proje¢tB. Page 2
Watchtree Nalur& R•seTve Llmlled Chairnian'$ Raport Without tha gonerou$ supyort of local mPanIeS and Organisatn5 togèther with contlnuing donabons from local and n8kn.onal charities rKJne of these Improvement8 would have been possible. We are also grateful lo our employees who hav8 developed the sknlls to ensure tha¢ KX)lential funders recogn¢5e and appwie what a wonderful and much loved place Watchtre&ha3 become as an Imporlant wmmunity and educational resourc8. We also lully recognlse the value of our rnembèrs who number over 1,000 8nd whose subscriptions make a valuablo addllon to our income. The Future: Next year offers us sèvarAI opportunltles as well as one rnajor chaInge. That ol eourse is rèmaining finanaalty wab. The chang88 to Employers Natial Iwwrance rates rn8an that we wll have lo raise al188st an extr8 £26.000 lust to stand still. As a Ch81ity l)at is a maTrJr hurd bui one vknich we are continually addressing. During 2026 we have an opportunty kn wotiale a much k)n9er lèase from Defra, v4ho own Ihe site. This will glve us greater sustainability 8nd, hopefully, make u5 more attracbve lo tential donors. W8 8190 aim lo rgvise our Habitat Management Plan to ensure that we can improvo th8 range and type of hatmtats $0 we can conlnue to bg an important b*ildlrfe Cent over Ihe pariod of a lonprlg95e. To finish I must eypr88$ apprac1On of th¢ DSr8ctus and my8eW lo our dedicated ènd enlhu8i88tic employees and, cwclalty, to our ever willing volunteers w)Se commitment always proves Invaluabb Sn rn8n9 Watchtree the wonderful place that il has b?¢¢e. Richard Spelrs Chalrman Page 3
Watchtree Nature Res•r¥• Limited Truste•s' Report f¢x Ihg Year End•d 31 March 2025 These fvan¢ial statements have been prepared in accordance with th8 accounting pollcles 5gt out in the accounts and comply wilh the ¢harfVs govèrning document. the Charities Act 2011 and Accounting and Rewrting by Charities.. Ststement of Recommended Prgctice applicable in Ihe UK and Republic of Iland. Welcomo tts the Wat¢htr•e Naturo R•s•r¥• Annual Report for th• finan¢lal ar 1&t April 2024 to 31st Mar¢h 2025. Back in 2022. we introduced our Stralégy Plan for 2030, Setting out elear oblecb.ves acro8s 411 areas of our btrrjrk. Since then. we've published an annual data report to track our progress against those goals_ While these portS have been invaluable for analysis and measuring our groyrth. we'vo comg to r8allse they don't quite capture the heart ofwhat do. Numbers and graphs arg u$èfubU1 they (kjnl alayS tell the full st. That'5 why, thls year, we're doing things a little dlfferently. W8.11 still pr(MJuce our detailed datA report, available on our wèbsitè for anyone who w8nts to dlvo #)lo the stat8. But alongsid& It, 're proud to 5har• this more narrative-driv8n aMual reDorL 11 blend8 k8y Statistics wlth realife stOTiaS, moments, an¢J memories from the past year-giving a more human vièw ofthe WO happening every day at Watchtr8e. Our T•am We ar8 nolhiru wthout our peoFle - so fa81s only righl to begin her8. At the close ol thls reporting year. our team is rnade up 0131 dedicated staff Fnembern and 52 in¢rodible volunteers. Together, they' Contribulgd ovgr 33.000 hours of Sorvo- equivalenlto 17 full-time roles. Ov8r tha past year, we've welcomed nino new Stsff mernb8 to Ihe team. At the same tsrne. knt've sald faTew¢ll lo Billy Little, St8phanie Normon, and Sam8ntha Heaft, who h8V8 movèd on to new opportunthe5. W• thank tham warrnly for Iheir contributionsto Watchtree and wish them every success in thwrfuture endeavors. We remain deeply grateful to our amazing volunteers, whose energy. time. and passitsn cthitinue to bè Ihe lrfeblood of Watchtree. This 8T, volunteer hovr5 have 8v¢r4god 190 0k-an impr85sNo 14% incrgase frorn the previous yoar. As our team. and Watchtree, continvèlts grow. stsying cnnnected becomes ever more Important. To support th18, Yle now host two full team gatherfngs each ar. In Decerrber, over 70 team mèmbers cam8 together for our annual Christmas dinner in Cartisle. offered free of tharge as a srnall token of Ihanks lor their h8rd work and d8dication. Then. in Januory, enjoyed our third annual tèam outing, this time to the Cumbrki Wildlife Trust at Gosling Syke. Our host, Adam McGinley, made u8 feel incredibty welrxjrne. and thè day offered a fantastic opportunityfor team members lo connect, share Kleas. enjoy time together away from our day-ttrday role8. Throwhout thtr yaar we have invested in the davdopment of our tearn through training. including offerlng COLnes in First at Work, EnwroThnental Hgallh. SaleguBrdlng and British Cyding Coaching. Membership #nd Communsty Support Providing a welcoming communrty hub and an 8ccessib, gen open $paca, along wth the laciliti85 and saryices offered at Watchtr8è, is ¥t a profitable venturè. It requires substantial financial support to Sustain everything we do. Thankfully, we're fortunate to ieceive gengrous backin9 from our comrnunity, $rtorS and users, 89 SUPPOrt plays a wtal role in keeplng VVat¢htr8elhriving. Walchtr8è membership offers partiapants exclusive acc885 to Ihe reserve and dixounts on our evenls and services. At the ¢1osg of the rtrwtlng year. had 1,117 rnembers which equatès to £32.415, a substants.al Contribution to our charity. (Xjr rnembership levels have been steady for 5gvgral years., we are deSIng plans to inve8se m8mb8rship uptske in thg coming aT. Donations are recwved through varityJ5 channels, including call•dion boxes in our car park, on-slte sales ouY8ts, and supportive k)cal businesses. One of our key lundralslng iniJatlVeS 1S thg Wèlchtree Wildlrfe Calendar, which Is senerou$ly 3ponsor8d by 48 1)¢al businesses, covering all production costs. The calendar is th8n offered to the bllc lor a suggested donation of £5. We also hosied some fundraising events including ¢ommunity trails at Easter and Halloween, our annual Watchtree Christmas weekend, and 'Zingl' Choir Christmas Concert th and 88 supper at Klrkbampton Village Wall. Pag• 4
Walchtro9 N•ture Resgrv• Umlt•d Truste•s' Roport forthe Year Endod 31 March 202S Thank5 to these effor1$, we rat5ed £10,907 in donations over the reporting T- an incrediblg te5tsm6nt the wcmk ofourt6am and gengrosity ofour eommunlty. Habltat and Estat•$ The watcht res6Jve Is cared fgr, enhaneed, and brought to lrfe by our brilli8nt Habitat and E$tatsS TÈAM, led by David Hall. This hardworking crew, our very own band of mèrry men wofflen, never fail to impress wrfh Iheir sklll, creatiwty, and tglentless work ethic. coma rain, shino. or 5idew8ys Cumbrian wnd. In recènt years, Ihg tgam has faced some tough thallenges. After being evicted from th•lr long41anding wcAkspaee Mlthin a Defr8 buildlng, they've been operating thOu1 a permanent base - a situation w4 won't be able to resol until 2026, when we hope to secure a ngw k)ng4em) a69 that wll &lh)w for a more I10ble and functional dev8lopment. Dte thes8 selbacks. 2024 broughl a welcome tmst of good fortune. In the spring, we were approached by Cumb•rfan(f Counal wth a generous offer.. the potèntlal donalton of a 40-foot shipplng ctsnlainer, ththlch Muld serv8 as mu(-n8ecled Stordge and workspace ts the team. Around the same tlme. we applied for funding to replace our 89iro AlkTerrain Vehiclt IATVI. vthlch hBd becomo increasinglyunreliabk cosuy to maintain. As lud( would have it, ts)th opportuni1185 camo through simuitsneously. Keeping lh& new ATV under wr8PS, the Watchtree manag8rnent team staged a little 5urprrse. When the shipping contslntsr arrNed, the team gathered for what they thought was simpty a new bit of kit-and w8 ¢Jolighted whgn the doors opengd io r8veal the shlny ngw ATV In8Kle! It was a srnall bul m8aningful way lo sh)w aPPtIOn lof a team that give$ so muth. While we cel8brat8 these wins, we're sb"Il lookiro ahead to * future where ¢Jur Habitat and Estales Tgam can Jper0te from 8 purpo58Ul1tW0rkShI and $lorago facility-sornething Ihèy truty d8s8rve. Work Compleled2024125 Practical habilat m8intènance continued throughoth th• year including 0d13nd thinning. hedge 18ylng. coppiung works in th8 W8tlands and much more. Sotne ol Ihls work contrfbutes to our Sustainabl6 Farming Incentivè obJ•ctNe$ and allow5 US to claim vital fijnds from the UK Govemrnent which supports wr work. We sub-let some18nd to 3 local farmers to rnaintain our flowgr meadows, thoy each cul, bale and remove h8y in Ju and thon graze through the nter afternath. 2024 was a challenging year for h8y rnakiNJ as tho summorsèason W8$ $0 wet, 8lthcMJgh 8113 farmers mana9ed to fjnd reasonable weatherwiThJows late in Juty. wrthln 1he year were awa ftjndlng Ihrough the Rural England Pmsperity FuThJ IREPF). the fvnding covered the rnalerfal costs for three projects which Jre detalled b81ow. Cxjr team CmPleted the physic81 labour el&ment of all 3 tasks. In 8 onfrgcre field a¢Jlacgnt to wr Clrnnt Car park, we'v8 installed a plaslic mesh reinfcwcement system over the grass. This allows thg area to be used lor ov9rllow p8rWng duriThJ dry weafhw, while still remalning wildlif&fri8ndEy and Sultsble for grang sheep when not in use. A Lleer Ignce h35 boan ere¢ted around the perimeter ol our Educ8Uon Zone creatiNJ a 1-hectsrg exdu5ion zone. By excluding Roe Deer from thè aièa, expe¢l that tho underslory of the woodland will impr¢M tonsiderably. The len has the added benefit of keeping children in th& area and redudng the likelih¢)od of ticks. Education zonè bohrdwalks- wth the incrèased use of the education zone the wound was becornln9 welktrodden in sorne places and a bcggy mess in others. W8 h8v• construct¢d a tWOrk of ebvated traily which allow paTI7Pants to èxplor• without hang a physical impad on the wund. BaMour8eèty Wa are incredibty fortunate to hav8 the Ongoi support of oui IDcal Bamour Beatty team based in Dslston. Throughout the year, they generoUY as51St us in a varigty of bvays- from pothole repairs and the108n of cones nd barrfers, to providing free meeting spaet and even offering A helplng hand lor rrAthjne!I wthen dlgging on site becornes a challeng?. Pag• S
Wat¢htree Natura R•s8r¥e Limlted Trust•es' Roport for tho Year Ended 31 March 2025 In 8thiUon lo this inv8luabl8 year-round support, we are prgud to host an annual Bawour Beatty Day at W8tchtr88. This $pe¢lal event sees tho DaLston team joined by colbagues frorn acwss the region for a full day ol volunt88ring- a real'DIY SOS'_stye transforrnationl This year's event fotsjsed on our Education Zontr. The team worked tirelessly to as515t with Ihe tonstrucOn of our new trM)ardwalk, créatèd a new pond, and built vth8t we can onty describe as the Thost f8ntastl¢ mud kit¢hen we've ever seenl To show our appredation, the Watchtr88 Cal• t&am $8Ned up a wellrflèsèrvsd BBQ for all invofved. This evènt holds parbcular signfftènee. Beyond the practical improvements rnade to Ihg reserve, it is #Iso an opportunity for the Balfour Beatly t8aTh to honour the memory of a muchlSsd fomer colleagu8, Grant Taor, who played a key role in establishing the ThanIngful relAtionshlp we now share. We are deeply grateful for the contiwgd 9ongro$ily, engrgy, and splrft that Balfour Beatty brings to Walchlreg. Their contribution makes a real difference- we look foThvard to many MO collaborations in lha yaars ahead. Wildlrfe Spring and earfy summer w8r8 cocl wilh unusualty high rainf811, following a very wet wlnter and a damp prèvlous sumrnèr. On• cbar Tesult was Ihe l<)w number of inseCt93p6C1aIty Bumblebees, Hoverfie8. Buttefflies, and Dragonflies. Amost all species saw r¢dueé(I spdng numbers. bndudlng Ihe r8r8 Dingy Skipper and Ihe W811 butterfy, noted by suNtryor Liz Still. On a bri9ht¢r nole. Liz reded seven new molh sp8a8s, Inging the Reserve'3 list to 589. These Included notable ma¢r04noth3. Blackneck and Oak Hook.tip, bolh near tha north•m edge of thgir range and expanding quIGWy. A p¥b"¢ulartyrare micro-moth. Hellozel8 hanFmoniell4, wh05e18rv8e mine birch baves. wd5 alsofound. It was a fir81 tsr VC70 and just the fourth Curnbrian rr. Birdlife 8180 suffered. Most Skyas had dis8PPè8r•d by late July, abandoning attempts to r04)e$t 8ft8r flooding estroyed 8arly broDd5. Nest boxes mostty h81d Great and 8lue Tils. along wlh Nuthatch pairs. 811 ol which fleilgod full brood8. Hcywavèr, rlnging showed few juveniles, d6SPite good adult $urvival. Willow WakbleTS struggled too, with the lowest ringing totol on COrd. Weath9r improved after m1Un0. benefiting latèr mlgrants 1Ske Blackcap. Gardgn Warbler, and Sedgè W8rt)ier. Chiffchaffs bucked the Irend, with one of our highest ringlng lolals. Nationwd? pattern5 echoed ours. A Sparrowh8vA( nèst was found and four ¢hick8 ring&d4hree fema188 and male. The Woodcock sUY agaSn recorded just one displaying bird. wilh no breeding confirme(l. A Bam Ovl regularty hunted ovar grassl8niJs through 8Utumn and wlntar. After N¥0 failgd attempts. the Lakè's Mut• Swws raised loui cygnets, lIe the Wetlands pairdid not nest. We continued thiMiw4 plantation wocdland to let in 1Sght and encourage ground Ilora. However, Roe Deer ar8 hewly bTOW5ing bramblts, whl¢h impacts br$eding warblors. Trial enclosures highlightad lh8 effect ol grazing. Only Tre8 Sparrow pairs bred. each producing a single brood. The ongoing colony docline remains unexFl8ird. Our efforts lo eslabllsh wildfiower hay rneadows are succe8ding bn pLac•s, bul soft msh is taking over many fie$. Nomialty. lertilty drainage control tt, bul we cannot alL8r site drainage. Although nc¢ fertilrzer has been used in 24 years. th8 p8r5i5tent wsh may Ihrive in Ihase h)W-ferblity condilion5. It might take another century to shift. Watchtr88 continues to pose ¢hall8nggs-but also offers valuable Opportun98 to exp8rim8nt. EthJ¢allon and W•llbeln9 Watthtr89 is now firrnty established as a key edutIon provider In our kxal area. Throughout lh8 year, host both regular and oneff School vislls, wlth a strong fo¢u8 on nature-based leamlng and forg8t schod actlvlljes. Our beautrful reserve also serv9s as 8 springboard for subjects su¢h as history, art, and ¢rossvcurricular arnIng. DLrring school h)lidays, our evgr-popular Klds, ¢b$ run mulbpl? sessions each week and continue to Se8 strg att•ndanc•. In th8 2024 rèporting year. 1.119 chlldren Msited from 50 dlfferent s¢hools Page 6
Watchtre• N•tyre Reserve Llmltod Tru$tee$' Report tor thg Year Ended 31 March 2025 wedèlivèr 45 Klds. Club •e8•ions. engagiry 499 children Expanding OtsrSeM¢es-Led by Lg8nnè Flsh 2024 has seen significant growth in our education and 1b&ing offer, thanks to tha dedi¢allon and wsion of Lg•nne Fl$her, our EdUCatn and Wellbe9 Team Leader. Leanne has suc¢985fulty devel¢)pgd and implemented a range of new. Inclusive irotiatives that r•$pond directty to comrnunity needs.. HAF (Hollday A¢tlvlty and Food)As part of the go¥ernm8nt-fvnded programm8 5upporiing children eligiblo lor froe school meals duriThJ fv)1lda, host 17 ¥•$¥lons. provbding enrfching 8¢DviUès and a hot rn8al tv 136 chlldr•n. Targ•tsd Short Brèaks ITSBlThese covwl-frJnd8d sessions support children and young people wilh SEND ISpw81 Educational Needs and DiSal1eg>, giving fam185 and carers valuabk rospit•. We hosted 8 sessltsns attended by 39 Indlvlduals. Woodland Wellb•lng & Mlnl Explor•rsln partnershlp wlh the NHS. we hosted 5 Woodland W•llbelng sessions, alongside 6 Mini Explorers $•s$k)ns for under-ss and thelr PanIS. Whil8 NHS support ft)r this work has now ended due tts $ustainabilty concems, we remain committed to conbnuing SOC1811y ScrIbed wellbelng Sessions. Plans are undeaY to self-dellver the58. Wth the support of thir&patyfvnders. Keeping ith the theme of wellbeing. nature comectedness antj education, r8 e1hted tg on¢0 again secure Ihe financ1 support of our frJnds at 8imsons Haulagè. sponsed £2000.00 for Ihg ¥etsnd year running as th8 corporate sponsorfor gur ongdng Tale Tralls proj8Ct. Thi5 Story trail proi8Ct U8es s unique story 8boutW8tchlree'swond8rful history, wrildlife and nature, and Ilu$trat8d map of the nature re$er¥e to connect our visitors with our beautiful natural rrOUnding3, our wldltfe, connect them to OUT history and to our future as **ll. The story maps are Ireo for visitors to colbct from our Visitor Centre and online, they are supported by a number of Illustrated story boards on the trall$, for farnilies to find. Tha Tale Tr8il project was 8180 SUPPOrted by grant funding from the Coop Community Fund. for which we were intredibty grat8hJl. The ongoing sponsorship from Birnsons and fundlng from the Coop 8lh)wèd us to luther develop Ihe prO1t to begin to include pieces of art and sculpture along thg trai15. The firsl of thèsè instalktions was a liwng lloW doThe in our elemèntal garden, and the second saw us comrni5s1on a brillianlty talented Cumbrian chainsaw artist, Tom Smith of Graènsmith Carying, to carve a large piece of stom-felled oak into the storfs tide character. Flash, a Great Crested Newt. WherbTom has completed the work. the sculpture will be placed wm)anenly in Ihe Elemenlgl Garden alongside the Willowdome, for the engagement and enjoyment of everyone. Looking ahgad into the next fln8ncial yaar. we are hoping to Secu addrtional fvndlng to cornmi88ion Tom to ewte another chainsaw Sculpture, and to engage other local artist5 to produce sculpturès and sensory engagSng art pi•ces to briry the Story tsle lo life. In doing so, we hope to $h¢)wcastr the arti5C tslpnlwlthin Cumbria and to eour8ge our visitors, young and olt1, lo engag8 Wlth our natural $pac8s in new and e1b'n9 ways. The Watchtree l•Vho•hrs Over th8 Past year, we've hired out more than 11,000 bikesl Thls inckndes riders ol &ll kinds- indlwduals, famllles, groups, neoMerS to cy¢ling, and people vAth disabilitlès. Whlla cy¢h htre remains a key part of what we do, it's now just one aspect ol the bmderwork of Watehtreewheelers. The Wheelers Team has grown Significantly over the past year, with Wendy Loved8y, Peter E¢thYard¥, and David Wise al promoted to Assistant Team Leader roles-each taking on specific areas of responsibility within the Wheelgr5 S8tup. Wendy now l•ad$ our trainino and coaching semees. These se$sion8 cOr everythlng frorn 18wnir¥J to ride. bullling crffiffidence and developing spacifio cycling skill$. Our coachlng team is stronger Ih8n èvar, featuring expernced coaches Barbara Stanton and Chris Pattlnson. Wandy rec8ndy completed her Bribsh Cycling Multi-Disdplin8ry Skills Coach Qu81ificth"on and 58 now t)rkfjng low¥d8 har Blkoability In$tru¢tor qualifications. Pag8 7
Watchtree Natur• R•$erve Limlted Trust•o8' Report for th• Year Ended 31 March 2025 Da1d and Peter sttarg responsibillty lor fleet maintenan¢e and workshop seNi¢es. supported by our ¢JodiGated tgam of volunteer cyck mechanics. Thsnks to their hard work, Ihe ffleet rémalns in excellent cond'0n-thOu9h somè of our most welpused bik ar8 Starting to show Iheir age and are bQming lamiliaf faces in the work$hopl During the reporung year. cur workshop services generated £6.309 in incom8 frorn cycle parts 8nd labour, highlNJhtlng a growTrJ enterprise that supports our wd8r mission. In addth"on. our r8fvrtM5hed bike sales. made posslblg through generous dOnatn$, raised over £19.OOlka fantastic cltIOn lo our cause. JI othgT acbvili8$ are shared responsibilities a¢ros$ lh8 team, including customer service, facilitating hlres. and managing the ongolng $81e of Our $t8nd8td fleet bikes. This approach ensure5 ourlieet rgmains fresh and nearly new, fleet kn'ke sales generatgd £10.151 in the reporting year- all of which is reinvested back into maintsining and uporading our bikes. Marketing and Ev•nts As mentioned in th Mambetship and Community Supwrt section, .¥• hl9hllght¢d som8 of our kay fundraising events. but Ihat's onty part of th8 Story. Throughout the year, host a wde range Df events, induding 5k, 10k, and half Marathon run8, a ch8rity walk. a 24-hour wnrunfvlkn"ThJ ¢hall8ng8, and a programrne of natur8 walk5 and talk8 focu58d on our local environment. In addition. we offer regularweekly 8Ctivrtie¥ such a5 the Sundèy Momlng Tra Run. Mond8y Walklng Group, and Tuesd8y P8rent$' Wth. Led by Senga Grav¥, tha succ6ss and grolrfh of lh8 events programma os also thanks to Ihe support of 8 strong letm ol vdunteers who work together to make sure that there is 8 b)Id rartge ol well org8nizgd ond enjoyable $&ri6s of events throughout lh8 y8ar. These events gnd advities play an imrxjrtant rol• in our community. encouraging $O¢Kel wnnection, promotin9 physicol activty, and supporting overall wellbelng. Events aro also an important marketing tool for Ihe SerVe as they attract new 8nd rètuming wsitors who then provide income, ed3d Ihoy ke8p our PsenCe and aehlevements In the spotligh¢. Our grobwng reputation ar4d powlarity have opened excithng new gPPOrtunitie5 this year, includiry 8 parlnership th cUmba Tourism. who invited us to tske part in thelr count78 pubiiclty campaiqns promollng Cutnbfia as an accessible d8stination. We were prwd lo be featur8d their Adventur8 for Everyone, initiatr've. whith in¢lude$ a dedic8t8d webpage and short films highllghtlng inclusive locatlons auoss the legion. Waichtree fèatu$ promlnentty Ihroughout the ¢ampawJn, vthich you can vièw here.. AVen for JE orono = Thls (xJllabor8tbn also marked our first stèp Into Ihe lId of social inTrJencers. We were Ihrilled to welcomè Jenny Berry, 8 disabl8d traveler and content creator whose Instagram account. @kvheell8Jood lifo, has over 98,000 foll¢8r8. Jenny shared a blog posl about her visit to Cumbria, includin9 8 glowing revthv of her 8yperience at Watchtree. Sincé then, wee already seen new visitors discovering us throvgh Jennls account. fvrlher èxpandlNJ our roach and MmUnty impact. Bebw arè some ovent statistics from Ihe reporting year. These ar8 d8rived from tsur onllne booking systèrn. so they do not In¢lude any 'on th8 d8y' 8nlr68s. Thi5 is full ovonts dala for gvents which took placo in the rgporting year. Note that $om8 ofthe InMe may have been rec8N8d out5Kle ofthe reporting yèar. (H41 Watthtroe sk Run 2025 199 IP141 Watthtr8e Halfmaiathon 2025 126 (H41 Watchtree 10k Run 2024 110 IH4I WINDY 500 2024 84 (H41 WatchiTee Runnlng Community Hall0??n Run 61 IH4I Watchtree sk Charity Walk 41 (H31 Watchlree Kids Pumpkln CaNlng 16 IH21'DSscoverino Hadrian8 Wall, Loc81 History Talk 16 (H21 Cumbrian Dl8led Night, Lak6land Diaknt sl?1Y 10 IH21 Pond Discovery Walk Maywith Stgvp Roullèdg& 2024 10 IH21 Birdsong Walk 2024 10 IH21 Pond Di$cov•ry Vvalk AuguslvAth Stev8 RoLrtledg• 2024 £2.826.C £3.030.00 £1.944.00 £635.20 £610.00 £205.00 £180.00 £136.50 £45.00 £50.00 £56.40 £26.00 P&Jè 8
Walchtree Nature Ros•rve Limited Trustees. Report for the Year Endgd 31 March 2025 (H21 Dragonfly, Darnseffty and 8umtAgb8e Walk 2024 Chrislmas at Watchtree 2024 £4.80 £690.00 70 Chrlstma8 at Watchtm 2024 {a $pe¢lal m•ntlonl Our annual Chrfstma$ at Watchtr6e event Is s¥3yS a seasonal highlight, feaiurFng a chamiing nativSty trail generousty set up and staffed by the Pattlnson family and frbnds from the local M¥thixYlst churches, a magical woodland S8nts'5 Grotto, and a fe$liv8 elf trail. Visitors also Ènkjy all the usual Watchtrtre a¢llvities. in¢luding cyde hire and the welc1ng on-site café. However. in 2024. th8 8V8nt faced 8n unèxpected challer¥J8. Just 24 hours b8fore lèuneh. Storm Darragh threaten8d the safety of the entir8 S8tup. AS a te8m. we came logelherlo 6valuale the situation and unanlmously agr88d.' whlla wè couldn't risk the full event outdoor$, w8 had to make sur8 some potts went ahead-especlal Santa's Grotto, might hove been sorn• thiklren's onty opportunlty to meet Sants thai yeai. In record time. we plvote(J. With eTh)rmous effort and community spirit, V+P rglocated the entire event to lQfkbamptL)n Village Hall. Santa's GTOtto was revealed in the meeting mom. nab.vity trail crafts were hosted in the main hall, and the café team set up shop in Ihe kltchen. It was a mammoth undertakin9, 8nd ow¢ special thanks to Sgnga and Leanne, who worked inGredlbly hard late into the ni9ht to ensu everything was r88dy. This experfen¢e has 18d u5 lo re¢onsider the format of future events. For 2025, we Are plannlng ¥ hybrfd Chrfstmas celebration, wth elements ly)th on the W8tchtr•e Reserve and #t Kithbampton Village HalWcombining the rnagic of the outdoors the ljexibilty of an Indoor venue. ensuring a memorable and w8atherprool Chrlstmas for all. Throu9hoth tha ar wo have reiVed ffinanclal support from a fange of funder5. The projects and outcomes of these funds are included in the relevant areas of the report above. However, li would be rerniss not to acknowbdge those fvnders generosity and our gratitude lortheir support. Tale Trails Coop Tale Trails Bimsons Educat50n Zon8 r8gener8tion UK Shared Prtsspèrity Fund Education Zone regoneration Communty Investment Fund NewATV Rural Enterprise Prosp8rity Fund Woodland well1ng The Nlneveh Ch8TSt8ble Trust Wellbeing Trail and Events Da¥KI Alen £4.670.58 £3.(M)O £36,578 £10,000 £20,000 £5.800 £2.600 Walchtreg ntInUeS to thrive despito the many challènges we have faced. Born Jt of disastsr. we have griAvn and flourished thrgh dlfficult tim88 thanks to the passion anil dedlcalion of ¢r t8am. The commitment of OUT volunteers, $taN, and trustees cannot be overststed - thglr wntributions are deaply ¥ald by gveryorn in our cornmunity. Our ongoing success rngans we have now outgrofft many of our current facilities. Wg are eager to improve and expand.. however. progres3 is ¢urrenlty Ilmlted by the terms and duration of our lèase with Defra. We are hopeful that these constraints can b8 addre55ed In 2026. unlocking exciting opportunitles lor new d8v•loFxn8nts across the resetve. W• have al80 reached o key mom8nt In our enwronmental st8W8rdship. Our original Land Mana98m8nt Plans have corne to an end. and in 2025 we look fomard to reassesslng species div9rs and eXplong innovatfve Wa to manage our land- btsth for natur¢ and for ptsople. structure. Go¥emane• and Manag•ment Governlng Document The MpanY was ineoworaled M 25 August 2(Y)4 as a company lirnited by guarantee and is governed by it8 Mamcrandurn and Articles of Associaon. The comp8ny was registered *ith th& Charfty Comrnission on 3 Decernber 2008 (Charty number 11270291 and has a reglstered office at Watchtree. Great Orton. Carlisle. Cumbria. CA5 6NL. Page 9
Watchtree Naturn R•sgrv• Limited Trustees. Rèport for the Year Ended 31 March 2025 The Trustees are 8ppointed by the rnembers at the AGK4. The Chair of thè board is responsible for the induction ofany now truslees. Obl¢¢tlvg8 and Aetivttl•s The objectivès of Ihe charfty are to.. Maintain. iwove or prwde public wn8niti8S. Prornottr for the public beneffit Ihe Watchtr88 Site In Cumbrla and rts onroTh$, In particular by a5SOCiating local community or9anisa'ons in 8 common effort to advan¢9 education, to telieve poverty, need and hardship. to provide fa¢ilities for leisur? tim8 occupats.on in the interests of sodal aThJ to ¢on$erv8 8nd Improve thè envlronmont. Thè charity maSntains Wat¢Mreg Nature Reserve lor visitors. school parties and group5 and eontlnues to devebp Ihe wheelers facility provKling cycles for use by disabled groups and individual8. In 88th.ng the objectives of the charity. Ihe trusièss have pak1 du8 regard lo the Charity Commi6sKfi guidance on public beTh1t. Rlsk Manag•m?nt The trustee$ have assessed Ihe major risks to whith th8 charity is exposed, in particu18r those related to the operaOn$ and finances of the tharity and are $8lsfi8d that Sy8t8rns and predureS are ID ¥c8 to mitig&t& •xposur• to the mapr risks. Flnancg ro¥l•w There has boen a surplus this year of £29.150 COmpad to a surplus last year of t2,665, befo 98lns on investments 8j transfers. Income has increased frtsm £419,957 last year to £S75.689 this y8ar. duè to a number ol large grants received in Ihe . Re5erv•s The W¢hlree Nature RÈserye reserves policy was rgvigwgd and updated during August 2024. The trust&es have set a Ve1 equfvalent to six monlhs of operating costs lor the organisatn as a desir8d Igval of t¢ser¥e. Th1$ fut)d is 8 ¢onting8ncy in the trv6nt of a sudden reduction in income. in order to prolect the futu operation of the organisation from the effects of any unse?n v8ri8tl9118 in its incomè and &endItUr. It also provSdgS 4 ¢8sh fl¢)w for grants and ¢ontracts that are paid in arrears. The trustees hav¢ dèsignated r•s•rve8 wFere there are plannèd commitrnents that cannot be rnet by antidpated fuiure income alone. These reserves are broken down into a nurnb8r of lunds that relate to.. The organisation's responsibllitles as an empknyer lo hold sufficient funds to provide woper noti¢è and redundan¢y ¢osts in the event of closurè The organisation's re$ponsikn16ti•s as a leaseholder lo masntain and Smprove th8 Nature R8seM for publlc beneflt. Th8 reserves policy and tho bvols rgsgrves required are reviewed yeady as part of the aMu¥l budgetary proc85S. Free reserves at thè year-d are £125,587 lexduding fixed asset Investments) and Ih8r8for8 sufficient to meet Ihese costs. Fundralslng $tsndaTds InfOall0 The charity does not hokl &ny agreemgnts tt1 professionalfundr8iser8 or commerci81 partlp9t0rs. Small ¢ornpany provr51ons This report has boon pr•par•d in accordance vAth the Small COMpanS reglme under the Companies Act 2006. Page 10
Watchtree Naturn Rverve Llmlted Trustees. Report for the Year Ended 31 mtth 2025 proved by th8 Board on 9 September 2025 and spaned on Its behaw by.. C M Tinker Trustee R W S Speirs TnJst80 P89911
Watchtrg• Nature Res•& Llmited Tru¥l•os' Rg$ponslbllltl88 in rolatlon to the Flnanclal Statomonts The trusteès (who a also dlrectors of W8t¢htree Natur8 Reserve Lknlied for tht purp)s&s ol company lawl are r8sponsib18 for Pparing the Trustees, Annual Report and the finandal statements in accordanee with applleable law and the FaIla1 Reporting Standard 102 - The Financs#l Raporting Stsndard applicable in the UK an Republic of Ifeland.. Company law requires th8 tTUStees io prtpa financial 8lalem8nls for eaeh flnancial year whlch givg a true and fair viaw of th& state of affairs ol the Charitable company and of the incorning r8sourtos and application of resources. ineludlng income an¢ expenditure, of Ihe Charrtab comparby for Ihat riod. In propadng Ihese financi81 stat&ment5, the trL15tee$ aro wulred to.. 6ele¢t $uitsbh &eounts'ng polioes and then apply th8m consistèntly., obserye the meth¢Jds and principles in the charit5 SORP- make judgements and estimates Ihat ar8 reasonable and prudent., stste whether 8pplicable UK accounting stsndards have been followed. subjecl to any maleri81 deptrtures dlsdosed and explained in the financial statements., snd prepare the financial $ts18ments on Ihe going concem basis unless it is inapproprfate lo presume that the charitab18 cornpany %%411 ¢ontlnue in business. The tru5te8s are responsible for epIng proper accounting iè¢ords that disclose wilh reasonable accuracy at any tim8 the financlal po$ilion of the charilable company and enable them to ensure Ihat th9 financial statements ¢omply with the Companiès Act 2006. They are also responsible for safeguarding th8 as8818 of tho charitable company and hence fgr tsking reasonable Steps lor the prevenOn and delection of fraud and other irregularit$. Pgge 12
Indep¢ndont Examlnefs Report to Ihp Trust5 Watchtree Nalure R6s•rv• Llmlted I rèporton tho accounts of Ihe ¢cnpany for the year )ded 31 Mar¢h 2025. which are set out gn pages 14 to 30. R¢gpectlve responslbllltles of truste •nd examlDer The Iwstees IWIK) are alsothe directors of Ihe companyfor the purposes of company lawl are re$pon8itl•for the preparation ol Ihe accounts. The trustees ctsnsh1 Ihat 8n audit is not required for thi8 8r under soction 144121 of the Charfties Act 2011 (thè 2011 Act) whd Ihat an Indepond&nt gxaminalion is needed. The tharity's gross incom8 exceeded £250.OC4) and l am qualrfied to undertake the examination by bein9 a qU81iffied rn8mber of Ihe Institut•of Chartered Acu>untÈnts In Engknd and Wales. Having satisfietj rnysew that lh8 eharlty is not subject tt> audlt under Parl 16 of Ihe Companigs Ad 21)06 and 1$ eligible for indep8ndent examlnalion. it 15 tny responsilitYlO'. examine the aecounls under 8tiOn 145 of the 2011 Aet follow the ProdureS lald dovm in Ihe General Diroctions gIn by the Charity CornmLssfjon und8r s8ttton 14515} Ibl of the 2011 Act- ènd slate ¥thether parbcular rnatters have comgtg rny attontlon. Bos18 of independ•nt examln•¢$ report My 8xamination was carrled out in accordance wilh tho General Directions given by the Charity Cornmlssion. An examinath)n includes 0 re¥A8w of th8 8ccountiTha record$ kept by Iho charity and a comparison of the accounts pr•$ented with Ih038 records. It &lso includes consideralh)n of any unusual Items OT discb5urès in the account$. and sedking explanations frorn y(yJ as Irusteos nCernIng any such rnatt8rs. The procedures undertaken do not provide dl the evidence that would bè required in an 8udlt and Cons8quenY no oplnion is given as to ¥thether Ihe aOunt$ pr8sent a ue and lair view and the report is limit8d to those matt8rs set out In Ihe statement beknv. Indondent examSn•fs stat•mgnt In connection with my examination, no mattw has comg to my att•ntlon= 111 whith gives me reasonable cause to believe that in any material r8SPèCt Ihe requirement8'. to keep accounllng rgeords In ac¢oTdance with section 386 of ihe Companies Act 2006.. and to Prepa accounts thich acCd with th8 accounttng records, comply wth the accounting requirements ol section 396 of the Companigs Act 2006 and wilh the rnethods and prineiplès ol th8 Stst8mtnt ol Recommended Practsc.' AccountiTrJ aNI Reporting by Charities ho not been meL or 121 to whlch. in my opinion, attention Shou be drown in ordor lo ¢n0bl& 8 proper understandlng of the accounts to be reached. FIFTEEN Rosehill Montg0rn8ry Wty Rosehill Estate CARLISLE CAI 2RW Jo neT omlinson FCA d & Co Limited h8rt¢rtd Accountants 9 SgPtgmber2025 Poge 13
WatGhtreo Nature Reserve Llmlled Statement of Flnanclal Acllvftie$ (including Income and Expenditure Account and Slatomont of Total Recognised Galns and Losses) for the Year Endod 31 March 2025 Unr•stbW•d R•strlct•d Total Fund5 Total Funds Fund8 Funds 2025 2024 Note Incomo Donations and legacies Othertrading adNities Inv85trnent incorne 42,816 109.373 152,189 75,331 25.541 38.552 11.9)2 373,046 466.316 11,902 9,050 310,035 419,957 Charitable act10$ 373,046 575,689 Total income 109,373 Expendlture Chadlable tivItI95 515.732 30,807 30,807 546.539 417.292 Total expendilvre 515.732 546,539 417.292 Transfws Transfvrs b?h¥¢on fvnds 51,841 151,8411 Gainslllossesl on inveslmenl assets 278 278 31,248 Nel in¢omell?xp8nditurel 2.703 26,725 29,428 33,913 Re¢onclllatlon of fu1 Total funds brought forward T¢)tsl funds carried fornard 487,814 490,517 43.482 531,296 560,724 497,383 S31,296 70,207 AJI of the Charitys aCiAl•S derfve from clInUn9 operalorts during the above Per$. Tt* notes on pages 17 to 30 lonn an integTAI port of these finanrAal statsrnents. Page 14
Watchlree Noture R•s•rv• Limltod company r•gistrntlon numb•r: 05214585 Balance Slw•t a8 at 31 MarGh 2023 2•25 2024 Not• Ftxed 088Ots Tangibla ass6ts Invostmonls 113.922 251,008 364,930 77.498 243,586 321,084 12 Curr•nt as5•ts Stocks and work In progrèss Debtors Cash at bank and In hand 17.512 14,072 216.412 247,996 13 12.352 240,156 254.504 Credltors.. Amoun¢s fall•ng due wlthln ono y•ar 14 152.2021 144.2921 N•t ¢urr•nt assets 195.794 210,212 r4•t ass•ts 560,724 531.296 Th* fvnds oftho charity: R•$trl¢ted funds 70.207 43,482 Unre¥trict•d fvnd Unre$tri¢ted incorn8 lunds 490,517 487,814 Totsl charltyfvnds Fcr the financl81 year •nded 31 March 2025, the chartty was tnijtd to ex¢mon from audlt under ¥ection 477 of ihe Compan188 Act 2006. The m8mbw$ hav8 not required the tharity to obtaln an audK of Ns ants lor tha year in qu8Stiofi in accor¢Jance with soctlon 476 of th8 Act. 560.724 531,296 T director5 acknowledge their resptsn6ibiliti"e8 tr complylng wth thg requirements of th8 Act with respgct to accounting re¢ord¥ and Ihe preparalon of accounts. ySe accounts have been prep8red in aordanCe vthh the provIsn8 8Fplicabl8 to ¢ornp8nlgs sublocl to Ih8 smÈll compani86 ragima. Approved ty the Board on 9 September 2025 and 5igDed on lis behawby. R W S Speir5 Trustee The notas on page$ 17 to 30forni integral part of these Iancial $t8tomont8. Page 15
Watchtree Nature RèvN• Llmlt•d Cash Flow Statsm•nl for thè Y•ar Ended 31 March 2025 2025 2024 Not C15h provldgd by Ius•d l>y) op•ratlng ad¥MI•s Net Income for the peri¢)d Depreciation Charges Gains on invostments Loss on the sale of ffixed assets Incrèasè in stocks In¢re8se In d8btor8 Incre8$9 in crgdltors 29,428 24.298 12781 7,129 11 5,5161 11,7201 7,910 51,251 33,913 22,394 131.2481 I4) 17.0451 19,312 36,830 Nel cash provld•d by lus•d Inl InvesWng o¢tl¥KieJ Purchasg of propety, plant and aquipm8nt Proceeds from sal• of Investments hjrthase oflnyestments 167,8511 129.2951 50,127 17,1511 174.9951 20,832 IDe¢rnos•Vln¢r•as• In Cash 123,7441 57,662 Th8 notes cfi pages 17 to 30 form an Integral partof ih8sofinanual 51atements. Pag• 16
Walehtr•• Nalure R•sèrrfe Llmit•d Not&s to the Flnan¢lal Stslements for lh• Yoar End•d 31 M•rch 2025 Accounting pollcl88 Surnmary of signifi¢•vrt accountlng policies •nd key•ceountlng e8llrrots0 The principal a¢¢ounts"ng pdicies applled in the preparallon of Ihesg financlal statern•nt$ are set out below. These polie$ have been consistently applied to all the yearn p¥e$ented, unless othomso slated. statem•nt of compllan¢• The flnanclal statements haw been ppared in accordance wlth Aeeounting and Reporbng by ChoriligS= Stslementof Recomrnended PractlC8 applicable to ¢harill&$ preparing their COUnt$ in accordance wllh Ihe Finan¢i81 R8POrting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 leffec"Ve 1 January 20191- Ichgrilies SORP IFRS 10211. the Financial Reporting Stsndard 8pplicabb the UK 8nd R8publl¢ of IreLgnd IFRS 1021 and the Companies Ad 2006. B4Sis of preparallon e charitab company meets the daffinthon of a publlc bemfft gnts'ty FRS 1tr2. Assets and liabilities a inlbally r8cogni$ed at hisioiical cost or transarAion value urless oth8r%•is8 ststed In the r818vant accounlng PDliry note$. Golng Conrn The5È financial $lal8rnents have been prgpared on a going con¢erD basis. The trustees assgss whelher thè ¥se of goin9 ¢oncem is apwopriate l.e. thethgT there are any m8t8rl81 uncertainties related to events or condibons that may ¢ast swJnrficant doubt on the abilty 01 Ihe Charlty to corbtinue as a going concem. The trust mak8 this assesstnenl In respgct of a poriod ol ong year1M tha datg of approval of th8 financial statements. Fund a¢¢ounting policy Vnr8strict8d Incorng fid6 are ggnoral fund$ Ihal 8re availablg lor use at lh8 trustees, dire110ft in fiJrfh8r8nce of the objectives of the L*arity. Resmcted IrQma funds are those donated for us0 in a partkular area or for $pecrfic puse$. the use of vthlch 15 r8slricted to that area or puse. Oesi9nated funds arè unrostrhxed funds 88t asid• at Ihg discretlon of Iha trusl80s for SPBafic purposes. Furlhèr¢J8taiL% of ea¢h fvnd ar8 dls¢bsed ln Th)te 18. Pe 17
W4frhtr•• Natur• R•s•rv• Limited Not9$ to th• Flnanclal Statom•nts for lh• Y•ar Ended 31 March 2025 ontsnu8d In¢omt and ndowm•nts Donations are Jn8d 8ft th• Charlty has been nollfied In of both the 8rnDunt and $etllement dale. In Ihe event that a dongtlon Is $uble¢t to condltions that requir8 a level ol pertorfnon¢e by the Charity before the Charity is enWed to the funds, the incorne is delerred and not re¢ogni$od until either those condilions are fvlty met, or th8 fulfilrnent of those condition$ is vA)olty %thin the control of the Chanty and it Is probable that th988 conditionsill be fuffilled in tho r¥porbng pgriryl. Legacy gtfts are recognS$ed on a case by case ba515 fo1bhng the grant of prob8le whgn the administtsrlexecJJtorfor the gstste has communicated in WTiting both tho amount and ettment dale. In the event that the gift 15 in Ihe form of an ass810th4r than cash or a financial asset traded on a recognised $k excha0, reCOgnon is subject to tho value of the gSft belng reliably m8asured wth a dggree of reasonab accuracy and thet lo the asset having b88n transferred tothe Ch6ty. Income trom Govemrnent and other grants, whether'capltal. grallts or'revenw. grants. Is re¢ognlsed when the charity ha5 entiuement to the funds. any performance conditions atta¢ld to the grants hav8 be&n met, il Is piobable that the In¢orne wll be received and the amount can be measured rellabty and is not defe. Delerred incorne reprewts amounis r8ceived for lutuie periods anil is released to incoming resourtss in the perh)d forwhich. h ha$ bg8n r8C8ived. Such income is only deferred when= - The donorspecthe5 that the grt or donatlon must only be usèd In bjture aontIng periods., or - The donor has lrnposed ¢4)ndItki whl¢h must b8 rnet bofore the chty has unndttn8l entiuement. Incomlng TwJources from tax roclaims Sn¢luded In th8 Statsment ol finanaal aG*¥thes al the same as the gift to which Ihey ffjlate. Cafo irKomg and incorne derfved from 6vonts 1$ rgcognlsed as aam8d (that 1$, a$ the related goods or services are prowdedl. Inve51m8nt incorne IB r8ty)gnis•J on a re¢ewatA8 basis. In¢ome from charitable activille5 inGludes In¢ome recognlsed as earned la5 the related goods or seN¢88 ar8 provided) under contrxt. Expendlture Liabille5 are recognised a$ soon as there t5 a legal OT constructive ob4oatkJn committing Ihe charity to the expendiluro. All expenditure is accounted for on an ac(¥uab basis and has been ¢ssed undei headings that aggregale 811 ¢osts rdated to the category. Ch8rltsble 8xp8nditure wmpri8es ihose costs In¢uTred by the charity in the delivery ol its a¢tMtios and S8rvic8s for its benafiErie$. tt includes both costs tha¢ ran be allocaled clire¢Uy to such aCtitieS 8r¢d those Costs ol an indirect nature nece$sary to support them. Support ¢0sts Support costs in¢lude cenlral functions and havè been allocat8d to actiwty cost categorios on a ba$1$ ¢onsl$tenl th the use of re¥ources, for example, allo¢8ting prop8rty costs by floor areas. or per ca¢8. slaff co8ts by Ihe rne spent and other ¢osts by lhr usag8. Irrecov•rnblo VAT Irrecovorablo VAT Is Charged against th8 caiogory of r&sourco$ exp8nded for whlch It Was incurnd. Page 18
Wat¢hlr•• Naturn RgwTve Llmlt•d Notes to the FinAn¢lal St4t•m•nts for tho Yoar Ended 31 Mar¢h 2025 Taxatlon The Charty Is considered to pass the tests S8t out in Paragraph 1 schedu 6 of the Financ8 Act 2010 and thgr9fore 11 meets the definition ol a charitable cornp?ny for UK corporation tsx purpos. AccLYdlngly, the Charity Is potentialty èxempt from taxatlon n r85PO¢t of incorne or capilal gain8 r8ceived wthin categori95 ¢over8d by Chapter 3 P8rt 11 of th8 Corp)rab"on Tax Acl 2010 or Sectlon 256 of the T8xaOon of Chargeable Gains Act 1992. ¢0 the extent that such income or gains are applled 8xdu8Ivè to charilal)1g wrp05es. Fix•d as$ot• Individual ffixed assets costing t100 or more are inillaltyrecded at cost. D•preclatlon Dewe¢latn 15 provided on tsnglble fix8d assets so as to Wri off th• Cost or v8luath?n, less any estimated resldual valJe, ov¥ their expected useful e¢onomi¢ lrfe as follows: 10120 years stralghl line ba61s 25Yo rtduclng balance basis 254A reduung balance b8818 25% reducing b8Janco ba$l$ Prorwty improvements Plant and machinery Flxtur¢s and fitbngs Cowwt8rw4uiprnent InvoStm¢nt• Fixed asset investrnents a Sndud8d at rnarketvalue at the balancts sheel date. Raali5£d galns and Ioss8s on investments are calculated a$ the drfferencè betsyeen s81es proceeds and thelr marflel value at the start ol tha year, cf thelr subsequenl cost, and are ¢harg8d or credited to the staterr*nt of th8 fmancial a¢tivlles in Ihe peric¥J olilisposal. Vnrealised gains and bsses represent the rvernet in market values during thg year and are cr8dit•(l or charged to the ststement of finandal activities based on the market value atthe ygar 8nd. stock Is valued 81 th• I0r of cost and n8t roalisable value, after due ward for ctholete and dow movlng slocks. Net realisoble value is based on selling price le$5 anticipaled costs to compl•Uon and selling costs. Items donated for rÈs8le or distributi1 a not nduded in thty fjnandal st8tetnents untsl they are $okl or di$tributed. Trnde Debtors Tradè debtOTS ar8 amounts due frcrn cu5Mr$ for merchandise 501d or servlc8s performed In the ordlnary cowse of business. Trade debtots are recognised initially al tho transaction prie•. They are subsequently measured at amortised D)5t U5iw Ihe effective interest method, less provislon for imp8irrn8nt. A provision for the impairment of trade debtors Is established when there is obj8Ctive Èwdence that the Charty wdl not be ablè lo cdlè¢tall amounts due accordlng lo the original tsrrns of the rKfjlvab. ¢h and Cash Equlvalonl$ Cash and cash equiv81enls comprise ca$h on h8nd eall deposits, and other short-tsrm hlghly liouid inve5trnents Ihat are r8adity convertlble lo a knovm auntof cash ?d are subled to an Insi1¢an¢ risk of change in value. Page19
Watehtr•o Natur• Reserve Limited Notss to the Financial Stat•m•nts for th• Y•r End•d 31 Mar¢h 2025 . ¢ontlnued Ll)bllltl•# Trad8 CrltorS 8r• 019atIOnS to pay for goods or serv5 that have been acquirod in Ihe ordinary COLWS8 of business frotn suppliers. knounls payable are das¥lfied as current liabiliti8s If the Char41y doe5 wiot have an unconditional ristht, al the eTrJ of Ihe reporling perii#J, to defer seltlement of the creditor for at 18a81 h¥dve monlhs ofter th¢ rowrbng date. If there is an unconditional righl to d8f•r setuement for at least ljvelve months zfterthe rekw).nQ d8¢e, Ihey ar pres8n18d 85 non-current liai¥lttie5. Trade rdItOrS are recogn158d inltially at th• transaclon price and subsequentty asured a¢ amorbsed C06t using Ihe effective interest method. Operatlng leasos Lea5e5 in whiGh substanually all the risks and rewards of ovmership arè retslned by Ihe188sor are d&srd as operating leases. Rental$ payable undor oporating loases are char9od in the Sla18m8nt of Finanual A¢tNlties on a straightlin8 basi5 overlhe 108$e term. Pgn8lon$ The charity operat8$ a define(I contribulion pen5ian scherne. ContrittionS are charged in the staternent of rinancial 8¢'Ville6 a6 they becorne Payab in a¢cordan¢• Ihe rule8 crfth8 scherne. Flnanclal InstNments FSnaTrcial assets and financial liabihties are re¢ognlsed wh8n Ihe charity becomes a lo the contra¢tual provisions of tho instrument. Fin8ncial liabilities and equity instruments are classified according to the substanco ol th6 conlra¢tual arrangements 8nter8d into. An eqLity instrutngllt 1$ 8ny contract that evidèncos a resldual interest the 8S88ts of the Chartty after deduCn9 an of its liabilities. All financial assets ond liabilllles are Inltl8lly rnga5ur8d at transact price liwKluding transactiC costs), except for Ihose finarKial a$8ets das8ified as at fair value through profft or h)ss, which are Inltlally m8asured al fair value IvA)ich is norrndly th8 transacllon price excllkling tran8action costs), Un$$ the aryangwnenl ¢onstMute8 a flnancing transarlion. If an arTangerngn¢ ¢onstitut85 & ffinanlyng Iran5acbon, the financlal 85sel or ffinancial liability Is measured at the present value of thE luiure payments dls¢ounted at a mark8t rate of int8r8St for a simikr debt instrument. Finan¢ial assets and li8bilities are onty oltset in the slatament of fin8nci81 position when, and only when Ihere e>asts a legalty enforceable right to sel oll the r8cogni5ed arnounts and the Charty int8nds 8ither to S8ttle on a net basis, or to realise the asset and setue the liability 5irnthwfft)usly. Flnancial assets are der8COgni58d en and only when al Ihe contractual nghts to the $h flows from the fin8neial asset expire or are seltled, bl th8 Charlty transfer5 to anOtr rtY substanualty all of the dsks and rewards of ownershlp of the ftnanaal asset, or cl Ihe Charty. desplte ha¥ring retained soma, bul not all, signifi¢ant risk$ arrfl rewards of ownership. ha5 transferred ¢ontrol of lh& ass81 to another party. Financial liabile$ are dwewgni8ed only when the oblig8tK)n swdfSed In th& ¢ontracl 18 dischBrgvd, canc8118d or expires. Pag6 20
Watchtm Nature ResÈN• Lirnited Not•s to the Flnan¢lal Statom•nt$ for the Y•ar Endod 31 March 2025 .. contlnu8d nations and lega¢les Unre$trl¢t•d R•$trf¢t8d Total Fund$ Total Funds Funds Fund$ 2025 2024 Don•¢lons and begacio$ Appeals and donation5 Sponsorship C81endar thnations 33,076 6,335 3,405 42,816 2,995 36.071 6,33S 3,405 45,811 17,570 4,165 7.269 29.0 2.995 an18 Cumbria Community Foundation RPA Other ag8nc4&S Emest Cook Blmson HauL8ge Royal Countrysid8 Fvnd Cumberland Council Nineveh Trust 20,000 12,885 13,442 20.000 20,000 2,000 15,000 43,578 5.800 106.378 20,000 2.000 15,000 43,578 5,800 108,378 46,327 42,81e 109,373 152,189 75.331 orthe donations and Iogaciss incom& in 2024. £27,004 r81ated to nreSti1¢1ad fuThJ5 thnd £48.327 r81ated to tnc¢ed fundg. Othor tradlnp a¢tSvilio¥ Unr•8trl¢t•d RtrId Total Funds Total Funds Fund$ Funds 2026 2024 Sale of blkes and parts 38.552 38,552 25,541 l of Ihg Oth8r trading adivttiea incoff* in 2W24 reLgled to unrestricl8d lunds. Inv•stmtnt Inetxn• Unrostrl¢t•d R•strlcted Totsl Funth Totsl Funds Fund$ Fund• 2025 2024 Dividends and interest re¢•lved Bank nte$t 7,464 4,438 11,902 7.464 4,438 11.902 4,934 4,116 9,050 l ol the investmenl income in 2024 relatd to unrestri¢t$d funds. Pagg 21
Wat¢htree N•tur• R•sthve Llmltod Nots¥ lo th• Flnan¢ial Statements for thè Y••r Ended 31 March 2025 . Gontlnued Ch•rltsblt •¢tlvities Unr•$tri¢led Restrfcted Total Funds Total Funds Funds Funds 2025 2024 Membership Cycle income Cofe Sales Graing STh¢orne Education and evenls income Othar income 28,654 73.388 233.577 2.908 31.080 3.441 373,046 28,654 73.386 233,577 2,908 31,080 3,441 373,046 25.328 e1.837 184.629 3.520 15.152 19,569 310,035 All 0¢ the income from charitabk actIv.e5 in 2024 lated to unrestri¢ted funds. Page 22
Watchtr•o Nature Ros•N• Limlt•d Notes to the Fln¥nelal Stat•rnents for the Yoar Endfjd 31 March 2025 fj Exp•nditur• Natur• re5•rve Investment managom- Totsl 2025 Total 2024 a¢tlvltlg8 Dlrect costs Purchases Wages and salar5 Staff NIC IEmployersl Staff pgnsicns Land maintenance Portfollo managemant Costs Insuran¢¢ Repalrs and maintenan¢e Hire of Pl18nd machinery Depreciation 127.915 289.804 10.632 11,670 1.750 127,915 289,804 10.632 11,670 1,750 3,385 6,672 17,847 2,321 24.297 496.293 91,972 239,717 7.006 8.751 1.604 2.S67 5.308 4,551 2,168 22.393 386,037 3,385 8,872 17,847 2,321 24.297 492,908 3,385 Support costs Staff traIng Volunteer expen$e$ Tèlephone and fax Cornputer software and maintenance r¥)sts inting, postage 8nd slatiDn8ry sU$ry ex$e9 Advertising A¢oJunlaw fees Independent examinerfs fee Leg818nd prof8s5i9nal fees Bank charyes IProfit)noss on sale of 18ngiblo fixed assets heh for cliarivs own use 3,902 1.976 3.902 1.976 765 1,677 1,078 2.987 2,676 1,312 2,081 5,562 500 7,036 5,581 1.843 2.931 1,843 2,931 3,800 11.097 3,800 11,097 500 9.461 8.946 4,429 50.246 9,461 8,946 4,429 50,246 31,255 543,154 3,385 546,539 417,292 Of the eypenditur6 in 2024, £3384.836 rtkted Ic* unrestricted funds 8nd £32.456 related to rg$triLtsd funds. Page 23
Watchtree N•tur• R•s•N• Llmited Not•s to th• Fln•n¢l•l Statements for the Y•or End¢d 31 March 2025 conllnu Gov•mane• Costs 2025 2024 Ac(J)UntsrY and PAYE feas Independent $x&mlnerfs fee ¢ountsncy pack8ge support Leg81 and professional feeB Portr10 m8nagementfo¢$ 6.512 500 4.$85 9,481 3,385 24,443 5,562 500 7.03e 2,567 15,665 Twsteos. rèmuneratlon and ¢xp•n$¢8 t¥Jring the year no tN6tee$ w9rg re1rnrsed expen5es12024.. £nill. Nc+ trustees re¢eived any r8rnuneration dumg the year. N•t IbKom• Net income 16 statgd after ¢h8rging'. 2025 2024 Lossllprofitl on dlsposal of tanglblefixed 45set5 Depreciation of tsngible fixed assets 4,429 24.297 22,393 10 Employees. remuneration The monthty 8vera98 numb8r of ptrsons (including sonior rnanag8m8ntl employed ty the tharlty durty Ihe year was as followE'. 2025 2024 Charitae activthes 25 27 The &ggrogaÈ8 payroll costs ofthgse perscffls rE as folbws: 2025 2024 Wages and $818ri95 Sou818ewrity Other p9n$h?n costs 2B9.B04 10,632 11.670 312,106 239,717 7,006 8,75t 255,474 No em0ye8 re¢ewed erTh)lurnentsof rnortr than £60.000 dvrln9 the yeor. Thtr key management Pgrsonrl comprise the Tlustees and reserve manager. Thg total 8rnployee benefits olthe key man8gemenl rSOnnel of tho Chai6ty were £40,06012024- £37,228). Page 24
Watchtr•e Natur• Reserve Llmlt•d Notes to Iho Financlal Stat•m8nts for the Y•ar Ended 31 Mar¢h 2025 .. conllnued 11 Tanglbl• Ilx•d as Plant and mgchin•ry FlxturoB. Property In¢ludlng motor flttlngs and impr0Ments vehl¢le$ •qulpm•nt Total Cost As at 1 Apr512024 Additions Disp05al$ As at 31 fv48rch 2025 102.669 32,518 110,5681 124.619 110,737 4,492 213.406 61.851 110,568} 270,689 30.841 30,841 115,229 Depre¢latlon As al 1 April 2024 Eliminated on disposals Charge forlhe year As at 31 March 2025 58.156 13,4391 13.807 68.524 77.752 135,908 13.4391 24,298 156.787 1.510 1,510 8,981 86,733 Net book volue As at 31 March 2025 As at 31 M8r¢h 2024 29.331 56,095 44.513 28.496 32.985 113,922 77,498 12 Inv•stm•nts h*ld a$ Ilx8d assels Ll$t in¥•stments Marftel v•lu¢ A$ 8t 1 April 2024 RevaluatK)n Adthtions Dtsposals As at 31 March 2025 243.586 27B 7.151 (71 251,IY)8 N•t book value As al 31 March 2025 As at 31 March 2024 251,008 243.586 AI ITrv8Stmenl assets were held in the UK. Llsted Inv•stm•nts Inve5trnont$ hong a net book value of £251,008 12024 - £243.58618re Il$ted on a r¢¢ognl$ed stock gxchange and had a m8rkel value of £251,008 at the end of the year12024- £243.5861. Page 25
Watchtree Natur• R•s•rv• Llmlt•d Notès to th• Financial Stat•m•nts fo¥r the Year End•d 31 March 2025 13 Debtsrs 2025 2024 Tr8d8 debtors Pr¢payThenl$ and accrued inccffl& 8.017 6,055 14,072 2,215 10.137 12.352 14 Cr•ditorn: Amounts falllng due wlthln on• #r 2025 2024 Trade Gredito Taxation and Social seeurity A¢crutls and deferred Income 8,123 16,589 27,490 52.202 9,587 13,074 21,631 44,292 Credrtors amounts falling due within one year Includes deferred inwme.. 2025 2024 As at 1 April 2024 AJn¢JJnt dèf6rrod yaar A8 * 31 March 2025 10,955 2,969 13.924 10.622 333 10.9S5 15 IAember8' IlabllNy Tl chailty 1$ a private company lirThted by guarantee and tSequentIY does not have share capitol. Each ol the Tnembers is liable to ¢ontribute an arnount not exceeding £1 towards Ihe assets of thg Crity in Ihe ovont of liqvidaoTr. 16 PsOn sch•m• D•fin•d ¢OntsIbltsn p•nsk+n •ch8me Th8 charity oparales a defineil contribution p8nsion 5chem8. Thè wnslon cosl Charge for pe1?d presents contn"buti(ms pay8ble by th8 charity tts th8 sch8vne and 8twunted lo £11,67012024- £8,751). Thgrg W8r8 no OLtst8rMliry LY prep0HJ wntrlbuts.ons at eilherth8 b8giThning or end of finanri81 year. Pag8 26
Watchtr•• Nature ReseNo Limited Not•s to thè Flnan¢lal Stat•rnents for Iha Y•ar End•d 31 March 2025 .. ¢on&nu8d 17 Related partie8 Controlllng •nt Tho chority is controlled by Ihe trustees vA)o are 811 dirèdors of Ihe company. 18 Anthly81$ offvndg oth•r recognis•d galnsl 108888 At31 Mar¢h 2025 At 1 Aprfl In¢omln9 Resour¢es 2024 re4our¢es Oxpgnded Tran•f• D•slgnated Funds General purpose reserve fund Deslgnated rese8 lund 200,000 200,000 400,000 200,ODO 400.000 G?ra1 Funds General unftstrkled funds 87,814 466,316 1515.7321 51,841 278 90.517 Restrlcted Fund$ Tral Project CCF Tools & equIpnt Jubilee Wood EducatSon Fund ATV PurGhase Habitat and Estates Education zone and park expansion 18,812 913 3,757 20,000 4.995 16.0441 19131 17,763 3,757 30,644 25.800 20.000 15,000 {14,1561 11.OOD 120,0001 18221 14,178 43.$78 109.373 18.8721 130,8071 130,8411 151.8411 3,885 70.207 43,482 $31,298 575.689 1546.$391 278 560.724 General purpose reSee fijnd.. FurKls lo provklo slx nKJnths salarie5 and employer5, Nl contrIbutn8. Redundancy liabllthe818nd rèquwed notice peri) based on $tatutory minlmurn payments for all $tsff. Desvjnated res8r¥e fund.. Funds to maintain, ropalr and improve premises and facilities owned 8nd held on lease. Sums to conmbute to extemal grant lunding for sp6cifi¢ developments as p8r Strategy Plan Oblediva. Page 27
W4t¢htrno Nature Rosorve Limitsd Notes to th• Financlal Stat•mènts forthe Yoar End•d 31 March 2025 .. ¢Mtlnuod Trail Project.. The fund ts belng used to re-surface existing multi-U58 trails to improve the re¢realS0Tr WalGhtree Natwe ResgN8 offers to Ihe community making11 aeSSIble to all. CCF T0S and Equipment.. A grdnt Ved for the acquisrtion ol tools necessary tr)r ongoing eharftèble operath¢)ns. Jthllee Wood.. A grant received loward5 planting tree8 Wthin Ihe noture reserve. Education Fund-. A 3 yearfund hrough Ern1 CLY)k to contribute towards an gdu¢ation officer salary. ATV Purthase". Aorart receiwl the purchase of a new ATV. Habitat & Estaies.. A grant through the Royal Cwntyside Fund to cover Ihe salary for a new habitat hnd estat8s offKor. Education zone and car Pa 8Xten5ion.' Grants received for the consèrvation and regeneratron of th8 othcatK)n zone and th8 8xpansion of Ihe Car park. Page 28
Watchlm Naturo R•s•rv• Lirnited Notes to th• Financlal Statem•nts forthe Year Ended 31 Alar¢h 2025 .. wnttt)u8d pgrlod Othor recognl$ed galn51 lo$•es At 1 Aprfl 2023 Incomlng R•$ouru8 expended Transhrs At 31 March 2024 D¢$i9nat•d fvnd8 General purpose rèserve fund Designoted reseNe fun 200,000 200.000 200,CKIO 200,000 400.(X)O 40D,QOO Genwal Fund$ Goneral unrestri¢t8d funds 479.073 371.830 1384.8361 1409,3011 31.248 87,814 R•strf¢t•d Funds Trail Prole Education Peoplè'$ ProjeLI Kitchen R8futh'shmont CCF Tc¢)Is & Equlprnènt Jubilee Vvood Educallrjn fitnd 18.900 3.400 13,4881 18.812 20,000 20.OQQ 4.027 113.3281 9,301 913 913 15.5301 12,885 12,042 13,5981 112,0421 132.4561 3,757 18,310 48,327 13,9991 43,482 497,383 419.957 1417,2921 31.248 531.296 19 Transfern Th? transfer frorn Teslrictèd funds to unreslricted funds Tepresents restrfcl¢d fvnds received to purthas8 fixed assets. Once the as5els were purchased the oFl9lnal restridion on th8 funds was met and the asset5 w8r6 thorefN8 transfvff8d to unr88tricted fur$. pa 29
Watrhtr•• Natur• R•s•rve Limited Not•s to lh• Financial Statements for tho Year Ended 31 March 2025 20 Net a8wts by fund Unfestrlcted Funds Re$tri¢t•d Fund$ Total Fund$ 2025 Tot•1 Fund8 2024 Tanglble assets Investmgnts Current assets Crèditors= Amounts falling duo thin one year Nel ass8ts 113,922 251.008 177,789 113.922 251,008 247,996 77.498 243.586 254,504 70,207 152202) 490.517 152,2021 560,724 144,2921 531.296 70,207 Prlor pgrlod Unr•¥trict•d Fund# Rèstrl¢tèd Funds Total Funds 2024 Totsl Funds 2023 Tangible assets Investrnents CvrreTrt a$setS Creditors: Amounts falling duè thin Or year Netassets 77,498 243,586 211,022 144.2921 487,814 77,498 243,586 264,504 144,2921 531,296 70,597 262.465 189.301 124.980) 497,383 43,482 43,482 Poge 30