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 AdMknlstra￿Ye Delail
Chalrn's Report
TnBtses' rwrt
Tw$iee$' responsibililiB5 in rèlation io the fmancial st#tements
Independenl examin8rfs report
12
13
statement ol flnancial ￿livi￿e$
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•gistr*ion 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-C*oralivg Bank PLC
1 BAlltsn St￿t
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 stra￿gY 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 a￿￿y$ 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 pe￿arent base. the Habltst and Eststes Team
5ecur8d a donated shipping contalner and new ATV. enhhnclng our operational cèpaeity. Ongolng MaInt￿anCe
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 r￿JuC•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 $UPPOrt.
. Cy¢l* hlr• and maint•nanee growth: c￿er 11,000 blke$ 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$8.' A diverse event pwrdmrne attracied par￿￿paThls to runs, walks. and natu
t81ks, aldsd by volunteer efforts and partnerships like Cumbrw Tourlsm's campaign. The usts of social rn¢di
influgncer5 has also raised awarenes5 of lthat Wat¢htrÈe has on tsffèr.
. Grant fundlng and futuro outlook: signif￿nt grant$ 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 Organisat￿n5 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 appwi*e 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 chaI￿nge. That ol eourse is
rèmaining finanaalty wab￿. The chang88 to Employers Nati￿al 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 $0 we can conlnue to bg
an important b*ildlrfe Cent￿ over Ihe pariod of a lonprlg95e.
To finish I must eypr88$ apprac1￿On 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 rn8￿n9
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 I￿land.
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$èfu￿bU1 they (kjnl a￿layS 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 rea￿life 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 Sorv￿o- 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 Hea￿ft, 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￿, g￿en 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 de￿SIng 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$tatsS TÈAM, led
by David Hall. This hardworking crew, our very own band of mèrry men wofflen, never fail to impress wrfh
Iheir sklll, creatiwty, and tglentless work ethic. coma rain, shino. or 5idew8ys Cumbrian wnd.
In recènt years, Ihg tgam has faced some tough thallenges. After being evicted from th•lr long41anding
wcAkspaee Mlthin a Defr8 buildlng, they've been operating ￿thOu1 a permanent base - a situation w4 won't be
able to resol￿ until 2026, when we hope to secure a ngw k)ng4em) ￿a69 that wll &lh)w for a more I10￿ble and
functional dev8lopment.
D￿￿￿te thes8 selbacks. 2024 broughl a welcome tmst of good fortune. In the spring, we were approached by
Cumb•rfan(f Counal wth a generous offer.. the potèntlal donalton of a 40-foot shipplng ctsnlainer, ththlch Muld
serv8 as mu(*-n8ecled Stordge and workspace ts the team. Around the same tlme. we applied for funding to
replace our 89iro AlkTerrain Vehiclt IATVI. vthlch hBd becomo increasinglyunreliabk cosuy to maintain.
As lud( would have it, ts)th opportuni1185 camo through simuitsneously.
Keeping lh& new ATV under wr8PS, the Watchtree manag8rnent team staged a little 5urprrse. When the shipping
contslntsr arrNed, the team gathered for what they thought was simpty a new bit of kit-and w￿8 ¢Jolighted whgn
the doors opengd io r8veal the shlny ngw ATV In8Kle! It was a srnall bul m8aningful way lo sh)w aPP￿￿tIOn lof
a team that give$ 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 purpo58￿Ul1tW0rkSh￿I 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 C￿mPleted 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 gra￿ng 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 paTI￿7Pants to èxplor• without ha￿ng 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 generoU￿Y 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 tonstruc￿On 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 $8Ned up a wellrflèsèrvsd BBQ for all
invofved.
This evènt holds parbcular signfftènee. Beyond the practical improvements rnade to Ihg reserve, it is #Iso an
opportunity for the Balfour Beatly t8aTh to honour the memory of a much￿lSs￿d fomer colleagu8, Grant Ta￿or,
who played a key role in establishing the Th￿anIngful relAtionshlp we now share.
We are deeply grateful for the contiwgd 9ongro$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 inseCt￿93p6C1aIty 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 re￿ded 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 r￿r￿.
Birdlife 8180 suffered. Most Skya￿s 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 $urvival. Willow WakbleTS
struggled too, with the lowest ringing totol on ￿COrd. Weath9r improved after m1￿Un0. benefiting latèr mlgrants
1Ske Blackcap. Gardgn Warbler, and Sedgè W8rt)ier. Chiffchaffs bucked the Irend, with one of our highest ringlng
lolals.
Nationwd? pattern5 echoed ours. A Sparrowh8vA( nèst was found and four ¢hick8 ring&d4hree fema188 and
male. The Woodcock sU￿Y agaSn recorded just one displaying bird. wilh no breeding confirme(l. A Bam Ovl
regularty hunted ovar grassl8niJs through 8Utumn and wlntar. After N¥0 failgd attempts. the Lakè's Mut• Swws
raised loui cygnets, ￿lIe the Wetlands pairdid not nest.
We continued thiMiw4 plantation wocdland to let in 1Sght and encourage ground Ilora. However, Roe Deer ar8
hewly bTOW5ing bramblts, whl¢h impacts br$eding warblors. Trial enclosures highlightad lh8 effect ol grazing.
Only Tre8 Sparrow pairs bred. each producing a single brood. The ongoing colony docline remains
unexFl8ir￿d.
Our efforts lo eslabllsh wildfiower hay rneadows are succe8ding bn pLac•s, bul soft msh is taking over many
fie￿$. Nomialty. lertilty drainage control tt, bul we cannot alL8r site drainage. Although nc¢ fertilrzer has been
used in 24 years. th8 p8r5i5tent wsh may Ihrive in Ihase h)W-ferblity condilion5. It might take another century to
shift. Watchtr88 continues to pose ¢hall8nggs-but also offers valuable Opportun￿98 to exp8rim8nt.
EthJ¢allon and W•llbeln9
Watthtr89 is now firrnty established as a key edu￿tIon provider In our kxal area. Throughout lh8 year, host
both regular and one￿ff School vislls, wlth a strong fo¢u8 on nature-based leamlng and forg8t schod actlvlljes.
Our beautrful reserve also serv9s as 8 springboard for subjects su¢h as history, art, and ¢rossvcurricular ￿arnIng.
DLrring school h)lidays, our evgr-popular Klds, ¢￿b$ run mulbpl? sessions each week and continue to Se8
str￿g 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$her, our EdUCat￿n and Wellbe￿9 Team Leader. Leanne has suc¢985fulty devel¢)pgd and
implemented a range of new. Inclusive irotiatives that r•$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 DiSa￿l￿1eg>, giving fam￿185 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 Pa￿nIS. Whil8 NHS
support ft)r this work has now ended due tts $ustainabilty concems, we remain committed to conbnuing
SOC1811y ￿ScrIbed wellbelng Sessions. Plans are unde￿aY to self-dellver the58. Wth the support of
thir&patyfvnders.
Keeping *ith the theme of wellbeing. nature comectedness antj education, ￿r8 ￿e1￿hted tg on¢0 again
secure Ihe financ￿1 support of our fr*Jnds at 8imsons Haulagè. spons￿ed £2000.00 for Ihg ¥etsnd year
running as th8 corporate sponsorfor gur ongdng Tale Tralls proj8Ct.
Thi5 Story trail proi8Ct U8es s unique story 8boutW8tchlree'swond8rful history, wrildlife and nature, and Ilu$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 prO1￿t 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 arti5￿C tslpnlwlthin Cumbria and to
e￿our8ge our visitors, young and olt1, lo engag8 Wlth our natural $pac8s in new and e￿1b'n9 ways.
The Watchtree l•Vho•hrs
Over th8 Past year, we've hired out more than 11,000 bikesl Thls inckndes riders ol &ll kinds- indlwduals, famllles,
groups, ne￿￿oMerS to cy¢ling, and people vAth disabilitlès. Whlla cy¢h htre remains a key part of what we do, it's
now just one aspect ol the bmderwork of Watehtreewheelers.
The Wheelers Team has grown Significantly over the past year, with Wendy Loved8y, Peter E¢thYard¥, and David
Wise al promoted to Assistant Team Leader roles-each taking on specific areas of responsibility within the
Wheelgr5 S8tup.
Wendy now l•ad$ our trainino and coaching semees. These se$sion8 cO￿r everythlng frorn 18wnir¥J to ride.
bullling crffiffidence and developing spacifio cycling skill$.
Our coachlng team is stronger Ih8n èvar, featuring exper￿nced 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•$erve Limlted
Trust•o8' Report for th• Year Ended 31 March 2025
Da￿1d and Peter sttarg responsibillty lor fleet maintenan¢e and workshop seNi¢es. supported by our ¢JodiGated
tgam of volunteer cyck mechanics. Thsnks to their hard work, Ihe ffleet rémalns in excellent cond￿'0n-thOu9h
somè of our most welpused bik￿ ar8 Starting to show Iheir age and are b￿Qming lamiliaf faces in the work$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 dOnat￿n$, raised over £19.OOlka fantastic c￿l￿￿￿tIOn lo our cause.
JI othgT acbvili8$ 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 $O¢Kel wnnection, promotin9
physicol activty, and supporting overall wellbelng. Events aro also an important marketing tool for Ihe ￿SerVe as
they attract new 8nd rètuming wsitors who then provide ￿ income, ed3d Ihoy ke8p our P￿senCe and
aehlevements In the spotligh¢.
Our grobwng reputation ar4d powlarity have opened excithng new gPPOrtunitie5 this year, includiry 8 parlnership
th cUmb￿a Tourism. who invited us to tske part in thelr count￿7￿8 pubiiclty campaiqns promollng Cutnbfia as
an accessible d8stination. We were prwd lo be featur8d their Adventur8 for Everyone, initiatr've. whith
in¢lude$ a dedic8t8d webpage and short films highllghtlng inclusive locatlons auoss the legion. Waichtree
fèatu￿$ promlnentty Ihroughout the ¢ampawJn, vthich you can vièw here.. ￿A￿Ven 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, we*e 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 $om8 ofthe In￿Me may have been rec8N8d out5Kle ofthe reporting yèar.
(H41 Watthtroe sk Run 2025
199
IP141 Watthtr8e Halfmaiathon 2025
126
(H41 Watchtree 10k Run 2024
110
IH4I WINDY 500 2024
84
(H41 WatchiTee Runnlng Community Hall0￿??n Run
61
IH4I Watchtree sk Charity Walk
41
(H31 Watchlree Kids Pumpkln CaNlng
16
IH21'DSscoverino Hadrian8 Wall, Loc81 History Talk
16
(H21 Cumbrian Dl8led Night, Lak6land Diaknt s￿l?1Y
10
IH21 Pond Discovery Walk Maywith Stgvp Roullèdg& 2024
10
IH21 Birdsong Walk 2024
10
IH21 Pond Di$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$liv8 elf trail. Visitors also Ènkjy all the usual Watchtrtre a¢llvities. in¢luding
cyde hire and the welc￿1ng on-site café.
However. in 2024. th8 8V8nt faced 8n unèxpected challer¥J8. Just 24 hours b8fore lèuneh. Storm Darragh
threaten8d the safety of the entir8 S8tup. AS a te8m. we came logelherlo 6valuale the situation and unanlmously
agr88d.' whlla wè couldn't risk the full event outdoor$, 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 re￿iVed 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 well￿1ng
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 thr￿gh 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 ¥al￿d 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 eXplo￿ng 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 Associa￿on. 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 on￿roTh$, In particular by
a5SOCiating local community or9anisa*'ons in 8 common effort to advan¢9 education, to telieve poverty,
need and hardship. to provide fa¢ilities for leisur? tim8 occupats.on in the interests of sodal aThJ
to ¢on$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 beTh￿1t.
Rlsk Manag•m?nt
The trustee$ have assessed Ihe major risks to whith th8 charity is exposed, in particu18r those related to the
opera￿On$ and finances of the tharity and are $8lsfi8d that Sy8t8rns and pr￿edureS are ID ￿¥c8 to mitig&t&
•xposur• to the mapr risks.
Flnancg ro¥l•w
There has boen a surplus this year of £29.150 COmpa￿d to a surplus last year of t2,665, befo￿ 98lns on
investments 8￿j transfers. Income has increased frtsm £419,957 last year to £S75.689 this y8ar. duè to a number
ol large grants received in Ihe ￿.
Re5erv•s
The W*¢hlree Nature RÈserye reserves policy was rgvigwgd and updated during August 2024.
The trust&es have set a ￿Ve1 equfvalent to six monlhs of operating costs lor the organisat￿n as a desir8d Igval of
t¢ser¥e. Th1$ 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 InfO￿all0￿
The charity does not hokl &ny agreemgnts ￿tt1 professionalfundr8iser8 or commerci81 part￿lp9t0rs.
Small ¢ornpany provr51ons
This report has boon pr•par•d in accordance vAth the Small COMpan￿S reglme under the Companies Act 2006.
Page 10

Watchtree Naturn Rverve Llmlted
Trustees. Report for the Year Ended 31 mtt￿h 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$ponslbllltl88 in rolatlon to the Flnanclal Statomonts
The trusteès (who a￿ also dlrectors of W8t¢htree Natur8 Reserve Lknlied for tht purp)s&s ol company lawl are
r8sponsib18 for P￿paring the Trustees, Annual Report and the finandal statements in accordanee with applleable
law and the F￿aI￿la1 Reporting Standard 102 - The Financs#l Raporting Stsndard applicable in the UK an
Republic of Ifeland..
Company law requires th8 tTUStees io prtpa￿ financial 8lalem8nls for eaeh flnancial year whlch givg a true and
fair viaw of th& state of affairs ol the Charitable company and of the incorning r8sourtos and application of
resources. ineludlng income an¢ expenditure, of Ihe Charrtab￿ comparby for Ihat ￿riod. In propadng Ihese
financi81 stat&ment5, the trL15tee$ aro wulred to..
6ele¢t $uitsbh &eounts'ng polioes and then apply th8m consistèntly.,
obserye the meth¢Jds and principles in the charit￿5 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 preven￿On and delection of fraud and other irregularit￿$.
Pgge 12

Indep¢ndont Examlnefs Report to Ihp Trust￿5
Watchtree Nalure R6s•rv• Llmlted
I rèporton tho accounts of Ihe ¢c*npany 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 responsi￿litYlO'.
examine the aecounls under 8￿tiOn 145 of the 2011 Aet
follow the Pro￿dureS lald dovm in Ihe General Diroctions gI￿n 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 Cons8quen￿Y no oplnion is given as to ¥thether
Ihe a￿Ount$ pr8sent a ￿ue and lair view and the report is limit8d to those matt8rs set out In Ihe statement
beknv.
Indo￿ndent 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 acC￿d 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 act1￿￿0$
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 fu￿1￿
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 c￿lInU￿n9 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 tnijt￿d to ex¢m￿on from audlt under ¥ection 477 of
ihe Compan188 Act 2006.
The m8mbw$ hav8 not required the tharity to obtaln an audK of Ns a￿￿nts 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.
y￿Se accounts have been prep8red in a￿ordanCe vthh the provIs￿n8 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 I￿ancial $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 poli￿e$ have been consistently applied to all the yearn p¥e$ented, unless othomso slated.
statem•nt of compllan¢•
The flnanclal statements haw been p￿pared in accordance wlth Aeeounting and Reporbng by ChoriligS=
Stslementof Recomrnended PractlC8 applicable to ¢harill&$ 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 Con￿rn
The5È financial $lal8rnents have been prgpared on a going con¢erD basis.
The trustees assgss whelher thè ¥se of goin9 ¢oncem is apwopriate l.e. thethgT there are any m8t8rl81
uncertainties related to events or condibons that may ¢ast swJnrficant doubt on the abilty 01 Ihe Charlty to
corbtinue as a going concem. The trust￿ mak8 this assesstnenl In respgct of a poriod ol ong year1￿M tha
datg of approval of th8 financial statements.
Fund a¢¢ounting policy
Vnr8strict8d Incorng fi￿d6 are ggnoral fund$ Ihal 8re availablg lor use at lh8 trustees, di￿re110ft in
fiJrfh8r8nce of the objectives of the L*arity.
Resmcted Ir￿Qma funds are those donated for us0 in a partkular area or for $pecrfic pu￿se$. the use of
vthlch 15 r8slricted to that area or pu￿se.
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.
P￿e 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 ￿￿Jn￿￿8d ￿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 conditions*ill be fuffilled in tho r¥porbng pgriryl.
Legacy gtfts are recognS$ed on a case by case ba515 fo1bh￿ng the grant of prob8le whgn the
administtsrlexecJJtorfor the gstste has communicated in WTiting both tho amount and ￿ett￿ment dale. In the
event that the gift 15 in Ihe form of an ass810th4r than cash or a financial asset traded on a recognised $￿k
excha￿0, reCOgn￿on is subject to tho value of the gSft belng reliably m8asured wth a dggree of reasonab
accuracy and the￿t￿ lo the asset having b88n transferred tothe Ch*6ty.
Income trom Govemrnent and other grants, whether'capltal. grallts or'revenw. grants. Is re¢ognlsed when
the charity ha5 entiuement to the funds. any performance conditions atta¢l*d to the grants hav8 be&n met,
il Is piobable that the In¢orne wll be received and the amount can be measured rellabty and is not defe￿￿.
Delerred incorne reprewts amounis r8ceived for lutuie periods anil is released to incoming resourtss in
the perh)d forwhich. h ha$ bg8n r8C8ived. Such income is only deferred when=
- The donorspecthe5 that the gr￿t or donatlon must only be usèd In bjture a￿o￿ntIng periods., or
- The donor has lrnposed ¢4)ndItki￿ whl¢h must b8 rnet bofore the ch￿ty has un￿ndtt￿n8l 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
Liabill￿e5 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 ¢￿ss￿ed 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 benafi￿Erie$. tt includes both costs tha¢ ran be allocaled clire¢Uy to such aCti￿tieS 8r¢d those
Costs ol an indirect nature nece$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$tenl ￿th the use of re¥ources, for example, allo¢8ting prop8rty costs by floor areas. or per ca￿¢8.
slaff co8ts by Ihe ￿rne spent and other ¢osts by lh￿r usag8.
Irrecov•rnblo VAT
Irrecovorablo VAT Is Charged against th8 caiogory of r&sourco$ 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$ot•
Individual ffixed assets costing t100 or more are inillaltyrec￿ded at cost.
D•preclatlon
Dewe¢lat￿n 15 provided on tsnglble fix8d assets so as to Wri￿ off th• Cost or v8luath?n, less any estimated
resldual valJe, ov¥ their expected useful e¢onomi¢ lrfe as follows:
10120 years stralghl line ba61s
25Yo rtduclng balance basis
254A reduung balance b8818
25% reducing b8Janco ba$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 r￿verne￿t 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• I0￿r 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 cu5￿M￿r$ 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 a￿￿untof cash ?￿d are subled to an Insi￿1￿¢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 Cr￿ltorS 8r• 0￿19atIOnS to pay for goods or serv￿5 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 r￿dItOrS 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&s￿r￿d
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. Contrit￿tionS 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 deduC￿n9 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 ￿$h flows from the
fin8neial asset expire or are seltled, bl th8 Charlty transfer5 to anOt￿r ￿rtY substanualty all of the dsks and
rewards of ownershlp of the ftnanaal asset, or cl Ihe Charty. desplte ha¥ring retained soma, bul not all,
signifi¢ant risk$ arrfl rewards of ownership. ha5 transferred ¢ontrol of lh& ass81 to another party.
Financial liabil￿e$ 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 R￿trI￿d 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 salar￿5
Staff NIC IEmployersl
Staff pgnsicns
Land maintenance
Portfollo managemant Costs
Insuran¢¢
Repalrs and maintenan¢e
Hire of Pl￿18nd 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 traIn￿g
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)Untsr￿Y and PAYE feas
Independent $x&mlnerfs fee
¢ountsncy pack8ge support
Leg81 and professional feeB
Portr￿10 m8nagementfo¢$
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 re1rn￿rsed 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
Charita￿e 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 em￿0ye8 re¢ewed erTh)lurnentsof rnortr than £60.000 dvrln9 the yeor.
Thtr key management Pgrsonr￿l 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
impr0￿Ments
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$ ho￿ng 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 Debts*rs
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 t￿SequentIY does not have share capitol. Each
ol the Tnembers is liable to ¢ontribute an arnount not exceeding £1 towards Ihe assets of thg C￿rity in Ihe
ovont of liqvida￿oTr.
16 P￿s￿On sch•m•
D•fin•d ¢OntsIb￿ltsn 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 rese￿8 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 & equIp￿nt
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 reSe￿e fijnd.. FurKls lo provklo slx nKJnths salarie5 and employer5, Nl contrIbut￿n8.
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 a￿eSSIble to all.
CCF T0￿S 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 Ern￿1 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