**The Blackdown Hills Trust (A Charitable Company Limited by Guarantee)**
## **Annual Report and Financial Statements**
**For the Year Ended 31 March 2021**
**Company Number: 07181053 Charity Registered in England and Wales Number: 1138327**
**The Blackdown Hills Trust** Contents For the Year Ended 31 March 2021
||Page|
|---|---|
|Contents|1|
|Reference and Administrative Details|2|
|Trustees’ Annual Report|3 - 6|
|Independent Examiner’s Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 – 19|
Prepared By Albert Goodman LLP
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**The Blackdown Hills Trust** Reference and Administrative Details For the Year Ended 31 March 2021
|**Trustees and Directors**|N Carter (Chair)|
|---|---|
||J Greenshields (Treasurer)|
||R Lloyd|
||M Canham|
||D Mounsey|
|**Principal Office and Registered Office**|Park Farm|
||Voxmoor|
||Wellington|
||Somerset|
||TA21 9NP|
|**Bankers**|HSBC Bank Plc|
||2 Fore Street|
||Wellington|
||Somerset|
||TA21 8AH|
|**Independent Examiner**|Michelle Ferris BSc (Hons) FCA DChA|
||Albert Goodman LLP|
||Goodwood House|
||Blackbrook Park Avenue|
||Taunton|
||Somerset|
||TA1 2PX|
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**The Blackdown Hills Trust** Trustees’ Report For the Year Ended 31 March 2021
The trustees, who are also directors for the purposes of the Companies Act, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s memorandum and articles of association, the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102implemented 1 January 2019) and are in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006.
## **Public Benefit**
The trustees confirm that they have complied with section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.
## **Structure, governance and management**
The Blackdown Hills Trust is an independent charity, registered number 1138327 and a company limited by guarantee, registered number 07181053. The registered office is Park Farm, Voxmoor, Wellington, Somerset, TA21 9NP.
The governing document is the memorandum and articles of association dated 19 February 2010, amended on 21 June 2011. The company was incorporated on 06 March 2010.
The following trustees, who are also directors for the purposes of company law, served during the year and since the year end:
J Greenshields (Treasurer) R Lloyd L North (resigned 5 December 2020) N Carter (Chair) M Canham D Mounsey
All business of the trust is conducted in accordance with its memorandum and articles of association together with the rules incorporated within this document. The directors of the company also act as trustees. They act in a voluntary capacity, except the treasurer who is paid a nominal hourly rate when working for the Trust. The Chairman and Treasurer are elected by the other trustees and must be reelected every three years. Appointment of any new trustees is made in accordance with prescribed criteria and company rules.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of liquidation of the company.
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**The Blackdown Hills Trust** Trustees’ Report For the Year Ended 31 March 2021
## **Objectives and activities**
The objects of the charity are:
1. To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment.
2. To advance the education of the public in conservation, protection and improvement of the physical and natural environment.
3. To provide or assist in the provision of facilities in the interest of social welfare for recreation or other leisure time occupation for the public at large or individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
Every potential project is evaluated as to how far it reflects our objects. In the future project evaluation will take into account how well outcomes have met with our objects.
## **Achievements and performances**
The Trust’s current activities are focused on enabling conservation grazing and woodland management in the public forest, encouraging environmental volunteering, and providing advice to landowners on woodland creation and management.
The project funded by the Forestry Commission came to an end in March 2017 where it was hoped that the cattle owned by the Forestry Commission would be gifted to the Trust and the Trust could continue the grazing project. During the 2018-19 year end the cattle (livestock units (LU)) was subsequently gifted to the Trust by the Forestry Commission for £nil consideration. 86 LU’s were gifted at the value of £600 each (90% market value). A livestock leasing/management agreement is in place with the two graziers, whereby the graziers will purchase the cattle (at £600 each) over 4 years at which point they will take sole responsibility for the grazing project with the Forestry Commission and Natural England.
The Trust is working with the Forestry Commission long term to take tenancy on open spaces in the Neroche public forest, and to enter into Higher Level Stewardship agreements with Natural England to enable the continued conservation management of these open areas, through extensive grazing with cattle. Public benefit includes long term conservation and better public access. This project is to some extent experimental; therefore it will also provide valuable information and education about potential management strategies for woodland pasture.
The Trust are still holding Funds donated by the Blackdown Hills Woodland Association with the proviso that it is used for Wood / woodland / Tree related Projects.
## **Plans for the future**
The Blackdown Hills Trust is looking to extend the scope of its activities through more diverse projects.
The Trust is now involved in applying for funding through FIPLS for scrib clearance and Machinery to help with the ongoing conservation
## **Impact of Covid-19**
The impact of Covid 19 has been minimal as farming has been able to carry on as normal, and all meetings are carried out with zoom.
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**The Blackdown Hills Trust** Trustees’ Report For the Year Ended 31 March 2021
## **Financial review and reserves policy**
The charity operates with minimal running costs. Most of its charitable work is undertaken on restricted projects, with an agreed contribution to unrestricted core costs wherever possible. A surplus of £2,211 was made during the year (2020: deficit £10,483). The main costs are cattle management and repairs and maintenance of fencing, which together cost £43,618 (2020: £72,848). Cattle were donated in the 2019-year end and are held as stock until they are sold to the graziers over the next 3 years. During the year, 7 Livestock Units were sold which generated £4,200 of income.
At 31 March 2021, the charity had total reserves of £67,906 (2020: £65,695), of which £8,863 is unrestricted (2020: £10,154) and £59,043 is restricted (2020: £55,541). The unrestricted reserves would allow for approximately 1 year of unrestricted expenditure, which is in line with expectations. Reserves are held for future plans for the charity and the intention is that spending will be capped to income to maintain reserves.
## **Risk management**
The trustees have considered the major risks to which the charity is exposed. They have reviewed those risks and established systems and procedures to manage them appropriately.
## **Statement of Trustees’ Responsibilities**
The trustees (who are directors of The Blackdown Hills Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (incorporating the Directors’ Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and are responsible for the maintenance and integrity of the corporate and financial information on the charity’s website.
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**The Blackdown Hills Trust** Trustees’ Report For the Year Ended 31 March 2021
## **Small company**
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed by order of the trustees on 18 December 2021
**N Carter J Greenshields** Director Director
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**The Blackdown Hills Trust** Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2021
## **Independent examiners report to the Trustees of The Blackdown Hills Trust**
I report to the charity trustees on my examination of the accounts of The Blackdown Hills Trust (“the Company”) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not comply with these records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Michelle Ferris BSc (Hons) FCA DChA**
Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Date: 20 December 2021
Prepared By Albert Goodman LLP
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**The Blackdown Hills Trust** Statement of Financial Activities (including the income and expenditure account) For the Year Ended 31 March 2021
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Notes Funds Funds 2021 Funds Funds 2020
Income from:
Donations 2 - 4,200 4,200 - - -
Charitable activities 3 3,206 49,095 52,301 6,205 66,127 72,332
Total 3,206 53,295 56,501 6,205 66,127 72,332
Expenditure on:
Charitable activities 4 4,497 49,793 54,290 7,461 75,354 82,815
Total 4,497 49,793 54,290 7,461 75,354 82,815
Net (expenditure)/ income
for the year before transfers (1,291) 3,502 2,211 (1,256) (9,227) (10,483)
Transfers - - - - - -
Net movements in funds (1,291) 3,502 2,211 (1,256) (9,227) (10,483)
Reconciliation of funds:
Fund balances at 01 April 2020 10,154 55,541 65,695 11,410 64,768 76,178
Fund balances at 31 March 2021 8,863 59,043 67,906 10,154 55,541 65,695
**----- End of picture text -----**
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The statement of financial activities incorporates the income and expenditure account.
Prepared By Albert Goodman LLP
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**The Blackdown Hills Trust – Company Registration Number: 07181053** Balance sheet As at 31 March 2021
**----- Start of picture text -----**
Notes 2021 2020
£ £
Fixed assets
- -
Tangible fixed assets 8
Current assets
-
Debtors 250
Stock 9 21,000 25,200
Cash at bank and in hand 47,736 41,503
68,986 66,703
Creditors
Amounts falling due within one year 10 (1,080) (1,008)
Net current assets 67,906 65,695
Net assets 67,906 65,695
Funds
General funds 13 8,863 10,154
Restricted funds 13 59,043 55,541
67,906 65,695
**----- End of picture text -----**
These accounts have been prepared and delivered in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006.
For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The trustees have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of Act with respect to accounting records and preparation of the accounts.
Approved by the Board for issue on 18 December 2021 and signed on its behalf by:
**J Greenshields** Director
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **1 Accounting policies**
## 1.1
## **General information and basis of preparation**
The Blackdown Hills Trust is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 3-6.
The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)-(Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 1.2
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## 1.3
## **Income**
All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. The valuation of donated services is not quantified within the Statement of Financial Activities.
Donated stock is included at fair value, being the expected proceeds from the sale less the expected costs of the sale. If practical to assess the fair value at receipt, it is recognised in stock and income from donations. Upon sale, the value of the stock is charged against charitable activities expenditure and the proceeds are recognised as income from donations.
Income from grants, relating to specifically the provision of goods or services as part of charitable activities or services to clients are included in full in the Statement of Financial Activities when receivable and in the period in which they relate to. Grants are deferred when the monies have been received in advance of the period in which they relate to.
## 1.4
## **Expenditure**
Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
.
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## 1.5 **Government grants**
Government grants are accounted for when unconditionally due and reasonable assurance can be gained that it will be received. Where funds are received in advance, for a specified period, these funds are deferred and recognised in the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate. Not all grants received have conditions and performance indicators attached, where this is the case, the income is included within donations. Performance related grants are included within Charitable Activities income.
## 1.6 **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Plant and machinery 20% straight line basis
## 1.7 **Stock**
Cattle stock is valued at the lower of cost (donated fair value) or net realisable value.
## 1.8 **Debtors**
Accrued income is recognised at the settlement amount due and prepayments are valued at the amount prepaid.
## 1.9 **Cash at bank and in hand**
Cash at bank and in hand comprise cash on hand and call deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## 1.10 **Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
## 1.11 **Financial instruments**
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 16. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 16. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
## 1.12 **Covid-19**
The trustees have considered the impact of the Covid-19 pandemic on the operations of the Charity. The Charity continues to receive its main source of funding and delivers projects. The Charity has the ability to cap expenditure in line with income. Taking into account all reasonable circumstances, the trustees believe that the Charity remains a going concern and no adjustments to the accounts are necessary.
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **2 Donations income**
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
- - - -
Cattle sales 4,200 4,200
- - - -
4,200 4,200
**----- End of picture text -----**
## **3 Charitable activities income**
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
Grant income
RPA 3,206 49,095 52,301 5,205 64,888 70,093
Blackdown Hills Woodland
- - -
Association 1,000 1,239 2,239
3,206 49,095 52,301 6,205 66,127 72,332
**----- End of picture text -----**
Prepared By Albert Goodman LLP
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **4 Charitable activities expenditure**
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
- -
Cattle opening stock 25,200 25,200 25,200 25,200
- -
Cattle closing stock (21,000) (21,000) (25,200) (25,200)
- - - -
4,200 4,200
- -
Cattle management 42,137 42,137 65,417 65,417
Fees paid to trustees 463 - 463 989 - 989
Crayfish programme - - - - 970 970
Rent 500 - 500 500 - 500
- - -
Repairs and maintenance
(note 5) 25 1,456 1,481 - 7,431 7,431
Print, postage and stationery 76 - 76 - - -
Insurance 849 - 849 885 - 885
Trade subscriptions 10 - 10 10 - 10
Sundry expenses - - - 121 162 283
Donation to the National Trust - - - 100 - 100
Travel 59 - 59 - - -
Website costs - - - 187 - 187
Professional Fees 144 - 144 - - -
Bank charges 93 - 93 91 - 91
- -
Woodlanders project 2,000 2,000 1,000 1,000
-
Woodlanders administration 1,150 1,150 2,300 1,374 3,674
- -
Governance costs 1,128 1,128 1,278 1,278
4,497 49,793 54,290 7,461 75,354 82,815
Included in governance costs
Accountants' remuneration 828 - 828 978 - 978
Independent examiner's fee 300 - 300 300 - 300
- -
1,128 1,128 1,278 1,278
**----- End of picture text -----**
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **5 Repairs and maintenance**
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
- - - -
Ground maintenance 2,082 2,082
Fenceline maintenance 25 1,456 1,481 - 5,349 5,349
25 1,456 1,481 - 7,431 7,431
**----- End of picture text -----**
## **6 Trustees’ remuneration and expenses**
Fees totalling £623 (2020 - £989) for administrative services, reimbursements for mileage totalling £59 (2020 - £nil) and reimbursements for postage, stationery, repairs materials and venue hire totalling £101 (2020: £93) were paid to one (2020 – one) of the trustees during the year.
## **7 Taxation**
The company is a registered charity and is, therefore, not liable to corporation tax to the extent that income and gains are applied to charitable purposes.
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
|**8**
**Tangible assets**
**Plant and**
**machinery**
**£**
**Cost**
As at 01.04.2020 and 31.03.2021
3,000
**Depreciation**
As at 01.04.2020
3,000
Charge for Year
-
As at 31.03.2021
3,000
**Net book value**
As at 31.03.2021
-
As at 31.03.2020
-
**9**
**Stock**
**2021**
**£**
Cattle
21,000
**10**
**Creditors: amounts falling due within one year**
**2021**
**£**
Accruals
1,080
1,080|**8**
**Tangible assets**
**Plant and**
**machinery**
**£**
**Cost**
As at 01.04.2020 and 31.03.2021
3,000
**Depreciation**
As at 01.04.2020
3,000
Charge for Year
-
As at 31.03.2021
3,000
**Net book value**
As at 31.03.2021
-
As at 31.03.2020
-
**9**
**Stock**
**2021**
**£**
Cattle
21,000
**10**
**Creditors: amounts falling due within one year**
**2021**
**£**
Accruals
1,080
1,080|**Total**
**£**
3,000
3,000
-
3,000
-
-
**2020**
**£**
25,200
**2020**
**£**
1,008
1,008|
|---|---|---|
||**2021**
**£**
1,080
1,080||
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **11 Company limited by guarantee**
The charity was incorporated as a private company limited by guarantee and has no share capital. The guarantee to the company is £10 per member due on the winding up of the company. At 31 March 2021 the company had five members and therefore, the total amount guaranteed was £50.
## **12 Operating lease commitments**
As at 31 March 2021, the charity had annual commitments under non-cancellable operating leases as follows:
Operating leases which expire:
**----- Start of picture text -----**
2021 2020
£ £
Land Land
Under one year 500 500
**----- End of picture text -----**
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **13 Statement of funds**
|**Balance**
**01.04.20**
**£**
**Restricted funds**
Cattle grazing project
45,705
Herepath
1,393
Woodland Fund
8,443
**Total restricted funds**
55,541
**Unrestricted funds**
General
10,154
**Total Funds**
65,695
**Statement of funds – 2020**|**Balance**
**01.04.20**
**£**
**Restricted funds**
Cattle grazing project
45,705
Herepath
1,393
Woodland Fund
8,443
**Total restricted funds**
55,541
**Unrestricted funds**
General
10,154
**Total Funds**
65,695
**Statement of funds – 2020**|**Income Expenditure**
**£**
**£**
53,295
(47,793)
-
-
-
(2,000)
53,295
(49,793)
3,206
(4,497)
56,501
(54,290)|**Income Expenditure**
**£**
**£**
53,295
(47,793)
-
-
-
(2,000)
53,295
(49,793)
3,206
(4,497)
56,501
(54,290)|**Transfers**
**£**
-
-
-
-
-
-|**Balance**
**31.03.21**
**£**
51,207
1,393
6,443|
|---|---|---|---|---|---|
||||||59,043|
||||||8,863|
||||||67,906|
|||||||
|**Restricted funds**
Cattle grazing project
Herepath
Porter Dodson
Woodland Fund|**Balance**
**01.04.19**
**£**
55,201
1,393
970
7,204|**Income Expenditure**
**£**
**£**
64,888
(74,384)
-
-
-
(970)
1,239
-||**Transfers**
**£**
-
-
-|**Balance**
**31.03.20**
**£**
45,705
1,393
-
8,443|
|||||||
|**Total restricted funds**
**Unrestricted funds**
General
**Total Funds**|64,768
11,410
76,178|66,127
6,205
72,332|(75,354)
(7,461)
(82,815)|-
-
-|55,541|
||||||10,154|
||||||65,695|
|||||||
Prepared By Albert Goodman LLP
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **Statement of funds – continued…**
The purpose of the material funds are as follows:
- 1) The cattle grazing project aims to maintain felled areas in the forest using English Longhorn cattle, which graze on brambles, bracken etc and thus keep these under control.
- 2) The Woodland fund was donated by the Blackdown Hills Woodland Association with the proviso that it is used for Wood / woodland / Tree related Projects.
## **14 Analysis of net assets between funds**
**----- Start of picture text -----**
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
Current assets 9,943 59,043 68,986 11,162 55,541 66,703
Creditors: amount falling due
- -
within one year (1,080) (1,080) (1,008) (1,008)
8,863 59,043 67,906 10,154 55,541 65,695
**----- End of picture text -----**
## **15 Related party transactions**
During the prior year, the Trust received £1,239 from the Blackdown Hills Woodland Association, in which the Trustees, N Carter and J Greenshields, are Treasurer and Chair of the Association. At the year-end, £nil was due to or from the Blackdown Hills Woodland Association.
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**The Blackdown Hills Trust** Notes to the Financial Statements For the Year Ended 31 March 2021
## **16 Financial instruments**
**----- Start of picture text -----**
2021 2020
£ £
Financial assets that are debt instruments measured at amortised cost 47,986 41,503
47,986 41,503
Financial liabilities measured at amortised cost 1,080 1,008
1,080 1,008
**----- End of picture text -----**
There were no items of income, expense, gains or losses to report (2020: none).
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