Trust for
Oxfordshire's
Environment
TRUST FOR OXFORDSHIRE'S
ENVIRONMENT (TOE) LIMITED
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST MARCH 2024
REGISTERED CHARITY NUMBER- 1140563
COMPANY LIMITED BY GUARANTEE- 07492087
ENVIRONMENTAL BODY (ENTRUST)- 137171
INDEPENDENT AUDITOR
WENN TOWNSEND
CHARTERED ACCOUNTANTS
OXFORD

CURRENT LEGAL AND ADMINISTRATIVE INFORMATION
Company Number
Charity Number
07492087
1140563
Roglst•red Office and The Old Counting House
Operational Address
82e High Street
Wallingford
Oxfordshire
OX10 OBS
Trusto•s
Justin Adams OBE (Chair)
David Gwillim (Company Secretary)
Russel Matthews
Anita Prosser (Deputy Chair)
Toni Robinson
Peter Shepherd
Nicholas Thorn
Martin Wilkinson (Treasurer)
Chl•f Executive
Ben Heaven Taylor
PrSnclpal Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Auditors
Wenn Townsend
30 St Giles
Oxford
OX1 3LE

FORWARD FROM THE CHAIR & CEO
Welcome to our Annual Report & Accounts for 2023-24, which showcases
the impact we have achieved in partnership over the year.
The Trust for Oxfordshire's Environment has one aim- to halt the decline in
nature and help restore Its richness. We believe that by working together to
achieve this aim in the place where we live and work, we can help restore hope
and inspire the transformational change necessary to restore balance in our
relatlonship with nature.
Scientlsts across the globe have made It clear that restoring nature Is a vltal
element in tackling the environmental crisis that threatens our future. By working
together, we can create bigger. better. more connected landscapes so nature
can thrive. By helping people connect with nature, we build support for the
systemic change needed to protect nature in the longer temi.
This year, TOE distributed over £200,000 to 50 partners across the region. At
Arncott near Blcester, TOE supported volunteers to contlnue vital habital
management work at a site which hosts locally important populations of
endangered butterflies. amphibians and birds. In Cothill and Frilford Heath, we
funded a survey across 16 square kilometres of heathland habitat. establishing
the presence of rare plants like Lesser Bladderwort, last seen in the region in
1931. We funded Banbury Omithological Society's Curlew Restoration
Programme, whlch has helped protect thls beautlful blrd from predation of its
nest sites.
Much of this work was funded through our long-standing partnership wlth
Grundon. But, for the first time. a proportion of the Local Environment Fund was
funded by a 'nature dividend, generated by our work on Biodiversity Net Gain.
This year saw TOE establish one of the UK'S first formally constituted 'habitat
banks,, at Lopemede Farm near Thame. A habitat bank is a parcel of land where
habitats are created to generate standardised biodiversity 'units' that can then
be sold to buyers, including for biodiversity net gain. Lopemede Farm Habitat
Bank, consisting of 27 hectares of restored floodplain mosaic habitat is the first
of many TOE have planned across the county,
In the coming years. TOE plan to restore hundreds of hectares of habitat through
its work on biodiversity net gain and communsty grant-making, delivering more.
better, and more joined-up spaces for nature and people across our beautiful
County.
Justin Adams OBE
Ben Heaven Taylor
Chair of Trustees
Chief Executive

WHO WE ARE
The actions of humankind are causing irreversible damage to the health and
diversity of our natural world. There is growing public awareness and concem
about the urgent need to act. both globally and locally.
TOE enables people and organisations to take action locally to hall Ihe
catastrophic decline in nature and help support Its recovery.
TOE'S work focuses on increasing biodiversity and on helplng people connecl
with the natural world. To achieve these goals. we raise funding and distribute
grants to support impactful projects, supporting both community-level projects
and larger landscape-scale schemes.
OUR PURPOSE
Working across Oxfordshire and its surrounding area. TOE'S purpose is to halt
the decline in nature and holp restore its richness.
STRATEGIC PRIORITIES
TOE'S ambition is bold not just to slop the decline in nature in our local area.
but to reverse it. We recognise that this is a huge task which cannot be achieved
by organisations working in isolation. so our approach is rooted in partnership.
We support and enable a broad range of partners to:
Protect and enhance existing sites of environmental importance.
Create biodiverse habitats where nature can thrive,. and
Connect people to their environment, building engagement with nature
and support for its recovery.
More information on our approach to achieving change can be found In our
strategy, available via our website (trustforoxfordshire.org.uklabout-us).

KEY ACHIEVEMENTS IN 2023-2024
24 grants worth £119 798 made to local community
organisations to support biodiversity and nature recovery.
23 grants worth £95 394 made to local community
organisations lo promote engagement with and access lo
nature.
grants worth £7 584 made to support better data and
evldence about blodiversity.
4 Biodiversity Nel Gain (BNG) project agreed worth
£538,737
ensuring 34 hectares in the county will be
managed for wildlife for
30
years.
£1,646,898 fund
ing secured to support nature
recovery and engagement in Oxfordshire & the surrounding
area.

ACHIEVEMENTS AND PERFORMANCE
TOE exists lo hall the decline in nature and help restore its richness. In this
financial year. TOE raised more money than at any point since it was registered
in 2011. Regardless of this success. our focus remains on allocating money
effectively, working wilh our grant-holders to help them to achieve the greatest
possible impact.
Local Envlronment Fund
TOE'S Local Environment Fund (LEF) is al the heart of the organisation's work.
Through independent, evidence-driven grant-making, TOE channels funding to
a wide variety of local community-based, charitable and other institutions,
enabling their work to restore nature and promote engagement with nature.
Working through an independent, voluntary grant panel made up of experts
drawn from across multiple sectors and institutions, TOE allocates grants to
projects which can demonstrate the potential for sustainable impacl. Projects
receive support from volunteer expert assessors and from TOE'S in-house
ecologist.
The Core funding of the LEF is secured from Grundon Wasle Management Ltd,
via the Landfill Communities Fund ('Landfill Tax'}. Additional funding has been
provided by the Thames Valley Environmental Records Fund. South Oxfordshire
District Council (via S106 funding) and individual donors who have supported
the Fund. TOE are grateful to all those who have entrusted funds to us in the
lasl year.
In 2023-24, the key achievements of the LEF included Ihe following..
50 new grants to support projects, together worth £202,623, of which:
19 grants were in support of biodiversity (totalling £99.000).
13 grants were in support of access to green spaces (totalling
£39,788).
11 grants were In support of community engagement with nature
{totalling £59.526)
3 grants were in support of tree-planting initiatives (totalling £1.224)
0 4 grants were awarded via the TVERC Recorders Fund in support
of improving data and evidence about biodiversity (totalling
£3,084).

Biodiversity Net Gain
The UK Environment Act (2021 } requires the majorily of planning consent in
England to demonstrate a 10/0 gain in biodiversity (compared to pre-
development), using a scoring system developed by Natural England. In
February 2024 this was made mandatory. In Oxfordshire, many local authorities
were already applying a BNG policy to new developments.
TOE has been working in close parlnership with local government, developers
and landowners to enable the policy to have a positive impact for Oxfordshire
and Buckinghamshire's habitats and wildlife. These partnerships and our funding
have now enabled over 100 hectares of land to be managed for nature recovery.
In 2023-24 a record £538.737 was contracted with landowners for the creation
of habitat banks in Cherwell, VOWH and West Oxfordshire. Our pipeline of new
habitat sites across Oxfordshire remains strong and we successfully launched
our site in Buckinghamshire which is the first non-pilot site to be registered on
the DefralNatural England. National Register.
Other Natural Capital Programmes
TOE received £42,546 from Thames Water in relalion to our joint work with the
Evenlode CatGhment Partnership. Working with partners {Wild Oxfordshire,
Thames Water and Natural England), this programme supports biodiversity and
water quality projects with local farniers and landowners in the catchment of the
river Evenlode. A grant of £16.530 was awarded during the year. Ourselves and
our partners are currently reviewing how besl to utilise Ihe pool of remaining
funds.
In 2023-24, the TOE Community Fund was established utilising designated
Unrestricted Funds. allowing us to support a wider range of projects. Grants of
£10.660 were made, including for a botanical survey at Frilford Heath which
recorded plant species last seen in the 1880's.
Mobilising resources
In the financial year, TOE raised £1,304.185 to support nature restoratlon and
enable engagement with nalure.
Our partnershlp wlth Grundon Waste Management Ltd continues to provide the
majority of funding to the LEF. In 2023-24. Grundon provided £113,108 to the
Landfill Communities Fund. This was down on the previous year which
experienced a temporary increase in waste going to landfill across the county.
In September 2023, we received an initial tranche of £50,000 of Community
Infrastructure Levy (CIL) funding from SODC to support community projects
across South Oxfordshire. Just under g0°/o of the fund was deployed as grants
by 31st March 2024 and it is hoped to build on the Fund's success in 2024-25
through a second tranche of funds from SODC.
Our multi-year agreement with Thames Valley Environmental Records Office
(TVERC) continues to help increase the evidence base on biodiversity across
the county. Funding from TVERC totalled £2.750 for the year.

Local authorities in Oxfordshire continued to trial BNG in their areas. TOE'S
receipts from developers reduced to £1,000,475 for the year. This was mainly
due to a slowdown in house building because of cost pressure and higher
interest rates. Delays to Ihe introduction of mandatory BNG also caused some
uncertainty for developers.
TOE is profoundly Indebted to its funders and partners, without whom we could
not support the fantastic projects funded via our grant schemes.
THE YEAR AHEAD
Looking to the coming year, our short-term objectives will include the following..
Develop our network of habltat banks. We aim to have a further 4
registered habitat banks in the coming year.
Malntaln our current lev•1 of LEF grant-maklng. We will leverage the
'nature dividend, from our biodiversity net gain work. as well as corporate
and other fundraising to offset any downward trend in landfill tax funding.
Build our profile and reputation with developers, ensuring that
biodiversity net gain in the county is implernented with skill. care and
integrity.
Build a stronger, more cohesive brand & identity, expressed through
revamped digital communications channels.
Continuè to build a strong and robust set of organisation policies,
procedures and systems to ensure that the public and private funding
TOE receives is managed efficiently and effectively.

STATUTORY REPORT AND FINANCIAL STATEMENTS
The Trust for Oxfordshire's Environment is registered as a Charitable Company
Limited By Guarantee. It is registered with Companies House (no. 07492087)
and with the Charity Commission for England and Wales under charily number
1140563.
The Trustees present their report and the financial statements of the charity for
the year ended 31 March 2024. The Trustees have adopted the provisions of
the Statement of Recommended Practice (SORP) "Accounting and Reporting by
Charities. (FRS 102) in preparing the annual report and financial statements of
the charity.
The report also serves as a Directors, Report as required by the relevant section
of the Companies Act 2006.

STRUCTURE AND GOVERNANCE
Governing Document
The Trust for Oxfordshire's Environment (TOE) Limited was established as a
charity on the 23 February 2011 and as a company limited by guarantee on the
13 January 2011. Its governing document Is its Memorandum and Articles of
Association.
Appointment of Trustees
New Trustees are appoinled either lo fill a vacancy or because the Board have
identified a skills gap. Emphasis is placed upon the appointment of Trustees
with knowledge and experience relevant to the Trust's current and developing
charitable activities and with experience of governance and fundraising.
New Trustees are introduced to the Trust's work and provided with background
information and induction training so they can fulfil their roles, which includes
Information about the role of Trustees and their responsibilities under the
Charltles Acl.
Organisatlon of the Board
The Direclors of the charitable company are its Trustees for the purposes of
charity law. The Trustees who have served during the year and since the year
end are as noted on page 1.
Under the provisions of the Memorandum and Articles of Association, the Board
must comprise a minimum of 3 Trustees. There is no maximum number of
Trustees. Throughout 2023-24, the Board consisted of 8 members.
Aside from the offices of Chair. Deputy Chair. Company Secretary and
Treasurer, there are no further specialised roles or formal commiltee structures
within the Board. There are a number of informal 'task and finish. groups,
charged with developing aspecls of organisalional strategy and policy.
The Board meets on a quarterfy basis with an annual AGM, which usually runs
consecutively with a regular meeting. Minutes of the meetings are agreed and
shared between all members of the Board.
Members of the Board are required to abide by a Code of Conduct. fomially
adopted in December 2018. An annual declaration of interest statement is made
by Board members, the results of which are formally documented. Trustees are
required to disclose all relevant interests and in accordance with the Trust's
policy wilhdraw from decisions where a conflict of interest arises.
10

Governance and management structure
The day-to-day administration of the Trusl has been delegated to the Chief
Executive who reports to the Chair of the Board of Trustees. The Chief Executive
has responsibility for the day-to-day management of the organisation within the
str8tegy and objectives set by the Board of Trustees. The Chief Executive also
has responsibility for developing and implementing the organisation's
programme activities.
Notwithstanding those powers delegaled as above, decision-making powers are
retained by the Trustees and exercised al quarterly Board meetings.
Pay policy for senior staff
The Trustees consider the Board of Trustees and the Chief Executive as
comprising the key management personnel of the charity in charge of directing
and controlling the charity and running and operating the charity on a day-to-
day basis.
All Trustees give of their time freely and no Trustee remuneralion was paid in
the year. Details of Trustee expenses are disclosed in note 7 lo the accounts.
The pay of the Chief Executive and other staff is reviewed annually by the Board
In March. The remuneration Is revlewed to ensure that It Is falr and In-llne wllh
similar roles and takes into account prevailing rates of inflation.
Risk management policy and principal rlsks
TOE maintains a corporate risk register which is maintained by the Chief
Executive and reviewed by the Board of Trustees on a bi-annual basls. The
organisation's overall risk management framework is reviewed annually.
Securing sufficient unrestricted funding to cover core costs is a key ongoing risk.
Our management strategy is to diversify our funding base, carefully manage
unrestricted expendlture and to recover core costs where possible.
There are significant risks associated with delivering BNG. particularly given the
emergent and dynamic regulatory environment. While Ihis funding stream
provides the majority of TOE'S income at the present time, cash flow Is
unpredictable and variable. Our management strategy focuses on developing
our reputation as a competent and trusted partner for local authorities.
developers and landowners. By developing a strong pipeline of fundable
projects, building strong systems and processes, and developing its project
management approach, TOE Is worklng to ensure that It remalns a cosl-
effective, accountable and attractive option for BNG funding.

OBJECTIVES AND ACTIVITIES
Legal Objects
The objects of the charity as described within the TOE Memorandum and Articles
of Association are to promote for the benefit of the residents of Oxfordshire and
its surrounding areas:
(a) The conservation protection and improvement of the physical and nalural
environment including the promotion of biological diversity.
(b) Sustainable development by:
The prudent use of resources.
(li) The relief of poverty and the improvement of the conditions of life
in socially and economically disadvantaged communities.,
(iii) The promotion of sustainable means of achieving economic growth
and regeneration.
Sustainable development means 'development which meets the needs of the
present without compromising the ability of future generations to meet their own
needs"
To further benefit the residents of Oxfordshire. without distinction of sex. sexual
orientation, race or of political, religious or olher opinions to advance education
in relation to (a) and (b) above and to provide facilities in the interests of social
welfare for recreation and leisure time occupation with the objective of improving
the conditions of life for the residents.
Where it is for the protection of the environment, to provide or to carry out
maintenance or improvement of:
(1) A public park
(2) Any other public amenity
Strategy
TOE'S strategy was refreshed in 2023-24. Its purpose and goals remain largely
in line with its previous plan, but its priorities have been simplified to focus
organisational effort and resources.
Organisational Purpos•
TOE'S core purpose is to halt the decline in nature in Oxfordshire and help
restore its richness.

Strategic Priorities
As Oxfordshire's independent environmental funder, TOE works to secure
revenue to support the protection. enhancement and restoration of Oxfordshire's
environment and its surrounding areas. By allocating funds to projecls that
deliver real change and environmental improvements. TOE works to ensure
more sustainable future for the benefit of all.
To fulfil Its purpose. TOE'S work has three core priorities:
Protect and enhance existing sites of environmental importance.
Create biodiverse habitats where nature can thrive; and
Connect people to their environment. building engagement with nature
and support for its recovery.
In addition. TOE'S Memorandum and Articles of Association allow it to engage
In other exclusively charitable purposes in the United Kingdom and elsewhere
which are In the opinion of the Trust beneficial to the community with a
preference for those in the area of benefit.
More information on our approach to achieving change can be found in our
strategy, available via our websile (trustforoxfordshire.org.uklaboul-us).
Public Benefit Statement
TOE exists for the public benefit, enabling people and organisations to support
nature's recovery and enhance the local environment. Through targeted.
independenl and evldence-based grant-maklng, the organisation seeks to
achieve its core purpose both through local Gommunity-based action and by
seeking to leverage nature restoration at scale.
The Trustees, in exercising their powers and duties, have complied with their
duty under the relevant sections of the Charity Act. In shaping our strategy,
policies and activities, the Trustees have also complied with their duty to have
due regard to the guidance on public beneflt publlshed by the Charity
Commission in exercising their powers and duties.
13

Acknowledgements
The Trustees would like to gratefully acknowledge the support of our funders
and partners. In particular, we would like to thank..
Grundon Wasle Management Ltd (vla Landflll
Communities Fund)
C,IlliNI)O
South Oxfordshire District Council
sO￿h Oxfordshire
Vale of White Horse District Council
Vale
of Ivhfte Horse
West Oxfordshire District Council
wEsr ox¥o*TrsN*E
D*TIICI COUNCIL
Cherwell District Council
Cherwell
Oxford City Council
OXFORD
cou¥c
Oxford County Council
'OXFORDSHIRE
'COUNf( COUNCIL
Buckinghamshire County Council
Vision XS
VISION
Thames Valley Environmental Records Cenlre
Vamey
Thames Water Lld
Thames
W¢)ter
14

Pro-bono work and volunteers
TOE'S work depends to a large extent on the support of a dedicated and highly
skilled cadre of volunteers. In addition to the Charity's Trustees, several groups
of volunteers play key roles in delivering the organisation's charitable work.
These include.
Members of TOE'S independent grant panels, whose role it is to advise and
recommend projects for funding to the Board of Trustees.
Independenl project assessors. who advise and support applicanls to
develop effective and evidence-based projects with the greatest chance of
achieving impact.
The Staff and Trustees extend their sincere and profound thanks to all those
who volunteered for TOE in these or any other capacity throughout the year.
15

FINANCIAL REVIEW
TOE ended the financial year with a net surplus of £336,069. The surplus in
unrestricted funds was £34,157, whlch resulted In TOE finishlng the financlal
year with unrestricted funds of £272,366.
Total Income for the year was £1.304.185 of which £252,060 were unrestricted
funds. As in the previous financial year, the majority of both restricted and
unrestricted income was secured from BNG arrangements.
Financial policies
The Trustees have agreed a Financial Regulations and Accounting Policy. This
policy covers all aspects of the organisation's financial management, including
financial authorisation. banking and treasury, procurement and expenses. The
policy is reviewed by Trustees on an annual basis and is kept under constant
review by the Treasurer and Chief Executive.
Reserves pollcy
The Trustees have agreed a Reserves Policy which stipulates that the
organisation should hold unrestricted reserves equlvalent to at least slx months
operating expenses.
As of 31st March 2024. unrestricted reserves stood at £272.366 of which
£172.294 were 'free reserves.. These are sufficient to cover core operating costs
for 9 months. Given the operational risks inherent in BNG, and given the current
econornic climate. the Board are content to maintain a level of unrestricted
reserves above the minimum sel out in the policy.
The purpose of TOE'S Reserves Policy is to ensure that the organisation
operates within Charity Law and Regulallon. It helps the organlsatlon manage
Its cash flow risk and ensures that it can meet its liabilities in the event that it
does not attract sufficient resources to remain a going concern in the future. This
would include the cost of winding up the organisation and disbursing funds to
those remaining projects it Is committed to supporting.
The majority of reserves held by TOE are restricted. As a body which manages
fund on behalf of our partners and for the benefit of the environment, we take
our responsibilities as a custodian of restricted funds very seriously. Appropriate
policies are in place to ensure segregation of restricted funds in our accounts.
All fund balances are reviewed by the Board on a quarterly basis. As of 31
51
March 2024, total net restricted funds held by the organisation amounted to
£1.646.898.
16

Statement of fundraising ethics
TOE does not participate in any significant fundraising activities with the general
public. Where it does undertake fundraising activity, it Is fully committed to
working within the Fundraising Regulator's Code of Fundraising Practice. In
particular. TOE will not:
Intrude unreasonably on any person's privacy.
Use unreasonably persistent approaches for the purpose of soliciting or
otherwise procuring money or other property on behalf of the charity.
Place undue pressure on a person to give money or other property.
Given tha limited nature of TOE'S public fundraising, it has elected not to formally
register with the Fundraising Regulator. Neither do we currently report on our
activities. If, at any point, it is proportionate to the level of public fundraising to
participate fully in voluntary registration and reporting, TOE will do so.
TOE does not use third party fundraisers or agencies to approach members of
the public and would never approach individuals who have not given permission
to be contacted.
In 2023-24, TOE recelved no complainls about fundralslng activities it carrled
out.
Runnlng costs
Tolal Support costs increased from £145,633 to £206,172. The Increase was
mainly due to the rise in Staff costs from recruitment and the annual pay review.
Legal fees of £22,775 were also incurred in 2023-24 to support the development
of new Landowner and Developer contracts to meet changes in the BNG
regulatory environment. Governance costs rosa from £18.813 to £25,167
reflecting the staff cost increase through the allocation from Support costs and
which included the recruitment of a Head of Finance.
Investment policy
TOE has no investment funds other than one Current Account and three inlerest-
bearing Deposit accounts. The level of funds in the Current Account is actively
managed to minimise cashflow risk while ensuring that interest on Deposit funds
held is maximised.
17

Declaration
This report is prepared in accordance with the special provisions of part 15 of
the Companies Act 2006 relating to small companies. and was approved by the
Trustees on 1st November 2024 and signed on their behalf by:
Justin Adams
f the Board of Trustees
Martin Wilkinson
Treasurer
18

Independent Auditor5, Report to the Members of the
Trust for Oxfordshire's Environment ITOEI Limited
Oplnlon
We have audited th? frnancial statements of the Trust for Oxfordshire's Environment ITOE) Limited Ith8
'charitoble ¢ompany'l for the year ended 31$t M8r¢h 2024 whi¢h comprlse the Stalemont of Flnancial Activ[￿es.
thg Balance Sheet, the Cash Flow Statement, and noles to the financial statements, including a surnrnary of
sSgnifScant a¢¢ounting policies. Tha financial r•portSn9 framework that has been applied in their preparatlon is
applicable law and United Kingdom Accounting Stsndards. including Financial Re porting Stsn(J8rd 102 The
Financial Reporting Standard applic8ble in the UK and Republic of Ire18nd {United Kingdom Generally
Acc8pted Accounllng Pracll¢el.
In our oplnlon the flnanclal $tal8ments-
give a true and fair view of the stale of the charitable company's affairs as at 31 st March 2024, and of 118
Incoming resources and applicallon of resources. including Ils Income expenditure Ilncluding income
from th8 United Nations an¢J related exp8ndllure), for the year then endgd.,
have been properly prepared in accordance with Unitgd Kingdom Generally Accepted Accounting Practice.
and
have been prepared In accordance wlth the requirement8 of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordanc8 With Intematlonal Standard8 on Audltlng IUKI IISA8 IUKII and
applicablé law. Our rèsponsibilitiès under thosè standards are further d8scrib8d in thè Auditor's responsibilities
for the audit of the financial 31atemenls 8eclion of our rep(>rt. We a￿ ind$p$ndenl of the charilablè company
in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance wllh
these requirements. We believe that the audlt evldence we have obtalned 18 sufficient and appropriate lo
providg 8 basis for our opinion.
ConclusSons relatlng to golng concgrn
In auditing the financial statements, we have ¢oncludttd that the tru8tees' us8 ol the going ¢oncèm ba8is Qf
accounting in the preparation of the ffin8ncial statements Is approprlate.
Based on the work we havg pgrformed, wp havg n¢)t idgnlifigd any matgrial unG¥rtsintl85 rglating to •v•nts or
conditions that, individually or collectively, may ¢8St signifTr¢8nt doubt on th$ ¢h8rilable company's ability to
continue as a going concern for a period of al least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the tru$lo88 Wlth respo￿ to going concem arg describod In the
r8lovant sections of this report.
Othér Informatlon
The trustees are responslble for the other Information. The other informallon comprlses the Informallon
included in the truslees. annual report, other than the financial Statements and our audilor's ieport Ihef$on.
Our oplnlon on the financlal statements does not cover the other information and, except lo the extent
otherwise expliciuy slated in our report, we do not expres5 any form of assurancg conclusion th¢ro0n.
In ¢onnectlon wlth our audlt of the financial statements, our responslblllty Is to fead the other Information and,
In doing 80. conslder whether the other Informatlon is matèrially incon8i$lenl with the flnancial ststements or
our knowledge obtained In the audlt or otherwlse appears to be materlally misstated. If w6 Identify such
matgrial inconsisl8ncie8 Qr apparent material tnisststèment$. wè arg r8quire¢J to dgtormine wh$ther there is a
material misstslement in the financial slalements or a material rnisslalemenl of the other information. If. based
on the work we have performed, we conclude that there is a material misststement of this other inform81ion.
we are requlred to report th81 lacl.
We have nothing to report in thls regard.
19

Independent Auditors. Report to the Members of the
Trust for Oxfordshire's Environment ITOEI Limited Icontinuedl
Opinlons on oth•r matt•r8 pr•¥crlb•d by th• Compani•$ Ad 2006
In our opinion. based on the work undertaken in the Course of Ihe aiJdit-
the infomiation 9iv8n in th& tru8tee$' report (incorporating the direclor8' report) for the financial year for
which the financial statemgnts arg prepared is Gonsislenl with the financial slatemenls.. and
the directors, report has b￿n prep8rod in ac¢ordon¢o with appli¢obl* legal requifem¥nl$.
atter• on whi¢h w• are required to report by exceptlon
In th• light of our knowledge and understanding of the charitable company and Its envlronment obtained in the
course of the audil. w$ have not idenlified material mis3latements in the directors. report.
We have nothSng to raport in roSPOCt of the following mattgrs in relation to which the Companies Act 2006
requlres us to report to you rf. in our opinion=
adequate 8¢counting record8 have not been kept, or returns adequate for our audit have not been received
from branch88 not Vl8lt&d by us,. or
the financlal statgments are not in agreement wlth the accountbng records and retums.. or
certain disclosures of directors, remuneration specified by law are not made". or
wè h8V8 not received all the information and explanations we require for our audit.. or
the trustees were not &ntitled to prepare the financial statement8 in a¢cor(lance with Ihe sm811
companies, regime and lake advantage of the sm811 companlos, exemptlons in preparlng the dFrectors'
report and from the requirement to prepare g $tralegi¢ report.
R8$ponslbllltl•8 of tru8ts08
As explained mortr lully in the Iruslees. responsibilities statement, the trustees {who are also the directors of
the ¢haTilable company for the purposes of company lawl are responsible for the preparatlon of the financial
statements and for being satisfied that they glve a true and fair view. 8nd for Such intomal control as the
Irust88s determine 18 necessary to enable the preparation of financial statements that are free from material
misststement, whelh6r due to fraud or error.
In preparfng the financi81 statements. the Iru8tees are re8pon8ible for 8s$o$sing the charitable comp8ny'$
ability to continuo as a going concern, dlscloslng. as applicable, mallers related to golng concgrn and u61ng
thg going concern basis of accounting unless the trustees glther intend to liquldgt¢ the ¢harltable company or
to cease op9ralions, or have no realistic allernalive bul lo do 80.
Auditor'• r08ponslbllltles for the audlt of the ftnanclal statements
Our obJ8ctlV6S 8re lo obtsin reasonable assurance about whether the flnanclal statements as a whole are free
from material misstatement. whether duè to fraud or arror, and to issuè an 8uditor's rèport Ihat includes our
opinion. Reasonable assurance is a hlgh level of assurance. bul i¥ not a gu8r$nteo that 3n audit conducted In
accordance with ISAS IUKI will always detect a material misstaternent when it exists. Misstatemgnts can arise
from fraud or error and are consldered material if. individually or In the aggregate, they could reasonably be
expected to influgncg tho economic decisions of users taken on the ba8is of these financial statements.
20

Independent Auditors, Report to the Members of the
Trust for Oxfofdshire's Environment ITOEI Lim.ited (continued
Irregularitlg8. Including fraud. are inslancgs of non-¢omplian¢g with laws and rggulations. We do$ion
pro¢pdures in line with our responsibilities, outlined above, to detect material misslatemenls in respect of
irregularities. IncludSng fraud. The speclfic procedures for thls engagement and the extent lo whi¢h Ih&se ar8
capablè of del8¢ting irregularities. including fraud 1$ delailod below=
Enquiry of rnanagpmenl and those Gharged with governanGg around actual and potential litigation and
clalms-
Enquiry of m8nag&mgnt and th0$0 charged wilh govemanco to iiitrntify any instances of non-cornpliancg
wllh laws and regulations-
Reviewing minutès of meetlngs of those charged with govemanc8'
Revlewing financial statemenl dlsclosures and tèstlng lo supportlng do¢umentsllon to 8ssess
compliance with applicable laws and regulations-
Performing audit work over the risk of m8n8gtmenl override of conlrols. including testing of journal
entries and other adlustments for approprlateness. evaluotlng the business ratlonale of 8ignlTicant
trans3cllons outside the normal course of buslness and reviewing accounting eslSmales for bias.
Bgcause of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including
those leadin9 to a material misstalement In the financial statements or non-complianct with règulation. This
rlsk incr6aSè$ the mor8 that ￿MplIance with a 18w or règul81ion 1$ removed frorn the events and trans8clion8
refl8cleiJ in the financial $18temenls, as we will bè less likely to become aware of instances of non-compliance.
The rlsk Is also greater regarding Irregularltles occurrlng due to fraud rather than error. as fraud involv98
Intantional concealfflent, forgery. colluslon, omisslon or mlsTepr8sent8tlon.
A furth8r description of our re8ponsibililies for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our
auditor'3 report.
Other mattor8
The financial statèm8nts of Trust for Oxfordshire's Environment ITOEI Limited for the yèar 8nd8d 31 st March
2022 wÈr8 un8uditèd. An indapèndènt examination was psrformèd whi¢h expres¥ed an unmodified opinion on
those slatemenls.
Us• of our rèport
This report 1$ m¥de solely to the charitable ¢ompany's members, a$ a body. In accordance with Chapter 3 of
Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so that we mlght slate to the charltable
company's members those matters we are required to state to them in an auditor's report and for no oth&r
purpD$9. To
e fullost gxlgfbl perrnittgd by law. we do not aGGepl or assume responsibility to anyone olhpr
than the ¢
able company and the charitable cornp8ny'3 mefflbers as 8 body, for our audit work, for this
report. or
ns we have formad.
or
Bonjamln Hayos BSC FCA
For and on behalf of W•nn Towns•nd Chart•r•d Accountants. Statutory Auditor
30 St Glles
Oxford
OX1 3LE
1*1 Mov•mber 2024
21

Tru$t for Oxfordshirv's Environment {TOEI Limited
Statement of Financial Activiti6s
(including th• InGorne and Expenditure Account)
for the year ended 31 March 2024
Note
Unrestrlcted Restricted
2024
2023
Funds
Funds
Total
Total
INCOME FROM:
Charitable activities
176,232 1,038,897 1,215,129 1,512,438
Donations
12.515
2.029
14.544
21.075
Interest and Investments
62,856
8,156
71,012
22,136
Other income
457
3,043
3.500
4,150
TOTAL INCOME
252,060 1,052.125 1.304.185 1.559.799
XPENDITURE ON:
Charitable activities
216,619
751,497
968.117
791,610
TAL EXPENDIT
216.619
751,497
968.117
791,610
N•t in¢omol(•xponditure)
35,441
300,628
338,069
768.189
Transfer5 between funds
13
(1,284)
1.284
Net mov•m•nt in funds
34.157
301,912
336.069
768.189
Funds at 1 April 2023
238,209 1,344,986 1,583,195
815,006
Funds al 31 Mar¢h 2024
272,366 1,646.898 1.919,264 1.583,195
All income and expenditure derive from continuing activities.
The statgmfjnl of financial acliviligs in¢lude8 all gains and losses Tecognised during the year.
The notes on pagos 26 to 37 form part of these flnanclal statements.
22

Trust for Oxford$hlro's Environmont (TOE) Limlted
Balance Sheel
as at 31 March 2024
Note
2024
2024
2024
2023
2023
2023
Unrestricted Restricted
Total Unr•stricted Restricted
Total
funds
funds
funds
funds
funds
funds
Fixod assets
Office equipment
962
962
1,082
1,082
Current asset8
Debtors
108.438
108,438
1,200 462,621 463.821
Cash al bank and in hand
170,467 2,320,489 2,490,956
270.245 1,852.557 2,122,802
278,905 2,320,489 2.599.394
271.445 2,315,178 2,586,623
Creditors: amounts falling
due wlthln ona year
10
{7,501) 1300,8811 (308,382)
134,318) 1780.3091 (814,627)
Nel current assets
271.404 2.019.608 2,291,012
237,127 1,534,869 1,771,996
Total assets less
current Ilabllltles
272.366 2,019.608 2,291,974
238,209 1,534,869 1,773,078
Creditors.. amounts falling
due after one year
11
1372,710) (372,7101
(189,883) 1189,883)
Not ass•t8
272,366 1,646,898 1,919,264
238.209 1,344.986 1.583.195
Funds
Unrestricted funds..
general
designated
172,294
100,072
172.294
100,072
187.405
50,804
187,405
50.804
12
Re51ricled funds
13
1,646,898 1,646,898
1,344,986 1.344.986
272.366 1.646.898 1,919,264
238,209 1,344.986 1,583,195
23

Trust for Oxford$hlre'6 Envlronm•nt ITOEI Limited
Balance Sheet (contSnuedl
as at 31 March 2024
The financi81 statements ale prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
The financial statements were approved by the Board on 1 $1 November 2024 and signed on its behalf
by
ams
Martin Wilkinson
(Chair of Tr
8t•es)
(Trusteo and Treasurer)
Company numbei: 07492087
Tha noles on pages 26 to 37 forrn part of these flnanclal statements
24

Trust for Oxfordshire's Environmgnt ITOE> Limited
Statefflent of Cash Flows
For tho year ended 31 March 2024
2024
2023
Reconclllatlon of n•t incomé to net cash flow frorn operating activities
Nel income for year
336,069
768,189
Depreciation ¢harge
1,403
1,084
Interest receivable
{71.012)
122,136)
Decreasel{incre8se} in debtors
462,621
{431,9901
(Deerea5ellincrease in creditors
1430.656)
368,162
Net cash flow from op8rating activities
298,425
683,309
Cash flow from Invagllng a¢tivitiO9
Inleresl received
71,012
22,136
Payments to acquire fixed as5el$
(1,2831
Not cash flow f rom Investing activiliès
69.729
22.136
Net cash flow from flnanclng a¢tlvitl•s
Not incroase In cash and cash equlvalents
368,154
705,445
Cash and cash oquivalents at 1 April 2023
2,122.802
1,417,357
Cash and cash •quival•nts at 31 March 2024
2,490,956
2,122.802
25

Trust for Oxfordshlr¢'$ Envlronm?nt {TOEI Limited
Not•S to tho FlnanGial Statemgnts
for the year ended 31 March 2024
A¢¢ounting Pollcles
The Trust for Oxfordshire's Environment ITOEI Limited is a charitable company limited by
guarantee in the United Kingdom. In the event of the charity being wovnd up, the liability in
respect of th8 guarantee is limited lo £1 per m8mb8r of the charity. The address of the registered
office is given in the charity information page of these financial $talemenls. The nature of the
charity's operations and principal activities are detailed in the Trustees, Report.
The charity conslitutes a public benefit entity as defined by FRS 102. The financial statements
have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporlin9 Standard applicable in the UK and Republic of Ireland issued in October
2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FRS 102), the Charities A¢1 2011, the Companies Act 2006 and UK Generally Accepted
Accounting Practice.
A55et5 and liabilities are Initially recognised al historical oost or transaction value unless
otherwise stated in the relevant accounting policy note. The financial statements are prepared
in sterllng which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial slatements are
set out below. These policies have been consistently applied lo all years presented unless
otherwise slated.
Funds
Unrestricted fund5 are built up from incoming resources received or generated for the charitable
purpose. They are available for use at the discretion of the Trustees in furtherance of the general
obje¢live5 of the charity.
Designated funds comprise unre51ricted funds that have been set aside by the trustees for
particular purposes. The aim and use of each designated fund is sel out in the notes to the
rinancial statements.
Restricted funds are funds used for specified purposes as laid down by the donor. Expenditure
meeting the criteria is charged against the fund, together with a fair allocation of overheads and
support co$t$.
Incom¢ r•¢ognltlon
All incoming resources are included in the Slalemenl of Financial Activities {SoFAI when the
charity Is legally entitled lo the income after any performance conditions have been met, the
amount can be measured reliably and il is probable that Ihf income will be received.
For donations to be recogniged the Gharily will have been notified of the amounts and the
settlement date in wriling. If there are conditions attached to the donation and this requires a
level of performance before entitlement can be obtained then income is deferred until those
conditions are fully met or the fulfilmenl of those conditions is within the control of the charity
and il is probable that they will be fvlfilled.
Income from grants 1$ recogni5ed al fair valu8 when the charity has enllllement after any
performance conditions have been met, it is probable that the income will be reGeived and the
amount can be measured reliably. If enlillement is not mel then these a mounts are deferred.
No amount is included in the financial slalements for volunteer lime in line with the SORP
{FRS 102).
26

Trusl for Oxfordshir6'8 Envlronment {TOE} Limitod
Notes to thg Financial Statements
for tho yoar ¢nd¢d 31 Mar¢h 2024 {¢ontlnu¢dl
A¢¢ounting PollGIg5 (Gontlnued)
Expendlture recognltlon
All expendlture is accounled for on an accruals basls and has been classified under headings
that aggregate all costs related to the category. Expenditure is recognised where there Is 2 legal
or constructive obligation to make payments lo third parties, il is probable that the selllement
will be required and the amount of the obligation can be measured reliably. It is calegorised
under the following headings=
Costs of raislng funds include PR and fundralsing costs. including the website.,
Expenditure on charitable activities includes grants awaided for projects., and
Other expenditure represents those items not falling into the calegori8s above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants pay8ble lo third parties are within the charitable objectives. Where unconditional grants
are offered, this is accrued as soon as the recipient is notified of the grant. as this gives rise to
a reasonable expectation that the recipient will receive the gr8n15. Where grents are conditional
relating to performance then the grant is only accrued when any unfulfilled conditions are outside
of the control of the charity.
Support costs allocatlon
Support costs are those Ihal ?551$t the work of the charity bul do not directly represent Charitable
activities and include office costs, governance costs, administrative payroll costs. They are
incurred directly In support of expenditure on the objects of the charity and include project
management. Where support costs cannot be directly attributed lo particular heading5 they have
been allocated to Gosl of raising funds and expenditUTe on charitable activities on a basis
consislenl with use of the resources.
Fund-raising costs are those incurred in seeking voluntary conlributions and do not include the
costs of disseminating information in support of the charitable activities.
The analysis of these costs is included in note 5.
Tangible fixed assets
Tangible fixed assets are slated at cost lor deemed cost) or valuation less accumulated
depreciation and accumulated impairment losses.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost. less
estimated residual value. or each asset on a systematic basis over ils expected useful life as
follows:
Office equipment - 25% slraighl Ilne
Leases
Rentals payable and receivable under operating leases are charged lo the SOFA on a straight
line basis over the period of the lease.
27

Trus1 for Oxfordshire's Envlronmont ITOEI Limitod
Not08 to tho Finan¢ial Statomgnts
for the year ended 31 March 2024 (contlnued)
A¢¢ounting Pollcles {contlnuedl
Employee benefit¥
When employges have rendered service to the charlty, short-term employee beneflts lo whlch
the employees are enlilled are recognised at the undiscounted amount expected lo be paid in
exchange for that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions
are expensed as they become payable.
Tax
The charity 19 an exempl charity within the meaning of schedule 3 of the Charities Act 2011 and
is considered lo pass the lests set out in Paragraph 1 Schedule 6 Finance Acl 2010 and therefore
it meets the definition of a charitable company for UK corporation lax purposes.
Golng con¢•rn
The financial statements have been prepared on 8 going concern basis a5 the Iruslees believe
that no material uncerlainlies exist. The Trust8es have considered the level of funds held and
the expected level of income and expendlture for 12 months from authorising these financial
statements. The budgeted income and expenditure is deemed 8uftiCi8nt with the lev&1 of
reserves held for the charity to be able lo continue as a going concern.
28

Trust for Oxfordshire's Envlronment (TOE) Llrnll•d
Notes to the FlTranGial Statements
for the year ended 31 March 2024 {contlnuedl
InGome from charltablo actlvltlos
Unrestrlcled
Restrlcted
Total
Total
2024
2024
2024
2023
Grundon
113.108
113,108
165,875
DEFRA Test and Trial Fund
16.624
TVERC Recorders, Grant
250
2.500
2.750
2,250
Evenlode catchment Scheme
12,500
30,046
42,546
137,500
Biodlversily Offsetting Fund SODC
27,200
141,000
168,200
219,072
Biodiversity Offsetting Fund - VOWHDC
Biodiversity Offsetting Fund WODC
55.119
278.481
333,600
748.800
32.306
182,229
214,535
9,600
Biodiversity Offsetting Fund Oxford City 39,107
Biodiversity Offsetting Fund Cherwell
3,500
195.533
234.640
38,400
46,000
49,500
145,517
Biodiversity Offselling Fund County
28,800
CIL- SODC
6,250
50.000
56,250
176.232
1.038.897 1,215.129 1.512.438
Included within the above income for 2023 were amounts of £1,289.115 attributable to regtricted
funds.
Charitabl• 8xpenditurg
Unrostrlcted
Restrlcted
Total
Total
2024
2024
2024
2023
Grants awarded (see 3.11
10,660
738.443
749,103
631,089
ENTRUST payments
3,823
3.823
5.643
BNG monitoring costs
4,468
4,468
4,995
Governance costs Inole 41
25,167
25,167
18,813
Allocated from support costs (note 51
180,792
4.763
185.555
131,070
216,619
751,497
968,116
791,610
Included within the above expenditure for 2023 were amounts of £664,845 altributable lo
restrlcled funds.
29

Trust for Oxfordshlro's Envlronm•nt (TOEI Limitod
Notes to the Flnanclal Statements
for the year ended 31 MarGh 2024 (continuodl
Grants awarded
Grants were awarded lo various local recipients out of the project funds as detailed bglow. The
aim of each fund, Including how they relate lo the obj8Cts of the charily. and the nature of
aclivilies or projects funded. is detaSled In nole 11.
2024
2023
Grundon
126,795
92,059
Carbon Offsetting
Evenlode Catchment
3,043
3,697
16,530
42,545
Nelwork Rail
19
70,064
Thame S106 Fund
4.460
1.525
TVERC Recorders. Grant
3,001
1,826
Biodiversity Offsetting - VOWHDC
90,000
415.792
Biodiversity Offsetting Cherwell
121,263
Blodiversity Offsetting - WODC
327,473
CIL- SODC
44,635
Tree Planning Fund
1,224
3,581
TOE Communtty Fund
10,660
749,103
831,089
Governan¢• ¢osts
Unrestricted
Tolal
Total
2024
2023
Alloraled from support costs
(see note 5)
20.617
14,563
AuditorlExaminer's fees
current year
4,550
4.250
25,167
18,813
30

Trust for Oxfordshire's Environment {TOEI Limited
Notes to the Flnanclal Statemonts
for the year ended 31 March 2024 {contlnuedl
Support costs
Charltabl•
Gov•rnan¢o
Total
Total
•xpenditure
costs
2024
2023
Finance and insurance
Sundry costs
Staff costs
1,738
4,162
138,548
193
462
15,394
1.931
4,624
153,942
2,148
646
108,552
Premises costs
16.321
1.814
18.135
31,315
Travel and subsisten¢e
1,529
170
1,699
1,094
Legal expenses
20,497
2,278
22.775
Other support cost$
1,497
186
1,663
794
Depreciation
1,263
140
1.403
1.084
185,555
20,617
206,172
145,633
Staff costs and numbers
2024
2023
Salaries and wages gross
140.041
100.274
Social security costs
8,056
3,758
Pension costs
5.845
4.520
153,942
108,552
The average weekly number of full-time equivalent employees during the year was deemed lo
be four12023 three). with five staff employed in total {2023.' four).
No employee received emoluments in excess of £60,000 per annuffl for either 2024 or 2023.
31

Trust for Oxfordshire's Envlronmgnt {TOEI Llmited
Noteg to tho FlnanGlal Statements
for Ihe year ended 31 March 2024 {contlnuod)
Trustees. and key managernont PgTsonng1 rgrnuneration and exponses
The trustees neither received nor waived any remuneration during the year (2023.. £Nil).
The total amount of employee benefits received by key management pe¥sonnel is £40,08712023'.
£40,275). The Trust considers ils key management personnel Gomprisg Ihg Board of Trustees
and the Directorlchief Executive.
No (2023.. none) Iruslees are accrulng pension arrangements.
The trustees did not have any expenses reimbursed during the year {2023'. £Nil).
Tangibl8 fixed assets
Officè oquipment
Total
Cost:
Al 1 April 2023
4,330
4.330
Additions in year
1,283
1,283
At 31 March 2024
5,613
5,613
Depreclation:
At 1 April 2023
3,248
3,248
Charge for the year
1.403
1.403
Al 31 March 2024
4,651
4,651
Net book valuo..
At 31st March 2024
962
962
Al 31st March 2023
1.082
1,082
32

Trusl for Oxforfl$hir•'s Environm•nt {TOE) Limit•d
Notes to th8 Flnanclal Statoments
for tho year ondftd 31 March 2024 l¢onlinu•dl
Debtors
2024
2023
Trade debtors
462.621
Prepaymentslaccrued income
38.440
1,200
Other debtors
69,998
108,438
463,821
10.
Cr•ditors: amounts falllng duo wlthln one year
2024
2023
Grant payments
Trade creditors
300,881
780,309
773
AcGruals
5,945
2.442
Other taxation and social security
1,556
31.103
308.382
814,627
11.
Credltors: amount8 falling dut aftèr one year
2024
2023
Grant payments
372,710
189,883
Amounts due in over ftve years induded aiK)ve are £274,468 (2023: £131,921).
33

Trust for Oxfordshirg's Environment {TOEI Llmlted
Not•s lo the Financial StatgmgntB
for the year ended 31 Maich 2024 {contlnued)
12.
Deslgnatgd funds
The charlly Is responsible for the oversight of projects that run for a significant perlod, with funding
of overhead contributions received on that basis for certain projects. As a result, the trustees deem
it necessary to hold a designated fund for such expected future costs. As al the 31 st March 2024
this fund was calculated at £88,985. and will be assessed n7oving forward on a regular basis and
updated at each year end.
During the year an additional designated fund was created, being the TOE Community Fund.
utiliging fees generat8d from BNG aclivities to support community grant projects. As at the 31 $1
March 2024. this fund wa5 calGvlaled al £11,087.
13.
R•glrict•d funds
2023124
Balancg at
Balance at
1st Aprll
31$t Mar¢h
2023
In¢om•Expendltur• Transf•r$
2024
Grundon
104.569
121.264 1139.563)
86.270
Carbon Offselllng
3,043
(3.043)
DEFRA Test and Trial Fund
3.870
{3.870)
Thame S106 Fund
4.979
(4,460)
519
TVERC Recorders, Grant
501
2,500
(3,001)
Evenlode Catchment
82,454
30,046
(16.530)
95,970
Biodiversity Offsetting Fund SODC
Biodiversity Offsetting Fund ~ VOWHDC 589,687
Biodiversity Offsetting Fund - WODC 169,544
240.920
141.000
381.920
278,481
190,000)
778,168
182,229 {327.473)
24.300
Biodiversity Offselling Fund Oxford Cily32.000
195,533
227.533
Biodiversity Offsetting Fund Cherwell 116.414
Network Rail
46.000 {121.2641
4.850
46.000
(3041
304
Tree Planting Fund
48
2.029
(1,2241
853
CIL Fund- SODC
50.000
{44,6351
5.365
1,344,986 1,052,125 1751,497)
1,284 1,646,898
34

Trust for Oxfordshire's Envlronment (TOE) Llmited
Notes to the Financial Stat•m•nts
for th• y•ar éndéd 31 March 2024 Icontinu•d)
13. Restricted funds (continued)
2022123
Balance at
Balance at
1st Aprll
2022
31st March
Incom• Expendlturo Transfors
2023
Grundon
51.112
158,517 {105,0601
3,042
{3,6961
104,569
Carbon Offsetting
654
DEFRA Test and Trlal Fund
8.000
16,624
120. 7541
3,870
Thame S106 Fund
6,504
11.525)
4,979
TVERC Recorders, Grant
327
2,000
11,826)
501
Evenlode Catchment
125.000
142.546)
82,454
8iodiversily Offsetting Fund SODC
58,360
182,560
240.920
Biodiversity Offsetting Fund VOWHDC
Biodiversity Offsetting Fund WODC
381,479
624.000 1415.792)
589,687
137,544
32,000
169,544
Biodiversity Offsetllng Fund Oxford Clty
32.000
32.000
Biodiversity Offselllng Fund Cherwell
116,414
116,414
Network Rail
77,120
170.0641
(7.0561
Tree Planting Fund
2,936
694
{3.5821
48
724.036 1.292,851 {664.8451 {7.05611.344.986
35

Trust for Oxfordshlre's Environment {TOE) Limited
Note¥ to tho Financial Statomgnts
for the year ended 31 March 2024 {contSnued)
13.
Rostrlcted funds Icontlnued)
The Grundon Fund is provided as landfill lax credits by Grundon Waste Management Ltd
through the Landfill Communities Fund ILCF}. The funds can be used to support projects
which comply with the Landfill Tax Regulations and which are registered with ENTRUST, the
regulator of the LCF.
The Carbon Off$etting Fund are funds from members of the public, networks and
companies re51ricled lo funding inilialives designed lo sequester carbon. including bul not
restricted to Iree-planting.
The DEFRA Tést and Trial Fund relates lo a grant from DEFRA to lesl different approaches lo
managing biodlversity nel gain, including testing the best approaches to engaging with landowners.
The Thame $106 fund is to provode funds for a local green space in the Thame area.
The TVERC Recorder8, Grant is for supportlng better ecological recording in Oxford$hire
and Berkshire.
Th• Evenlode Catchment Fund supports local individuals and organisations working to
improve river water quality, enhance biod iversily, improve flood management and resilience
within the area surroundin9 the Evenlode rlver.
Blodlverslty Offsettlng Fund - SODC is to miligate for the loss of biodiversity through
development, by 5UPPOrting habitat creation and management.
Biodiverslty Offs•ttlng Fund - VOWHDC is lo mitigate for the loss of biodiversity through
development, by 5upporling habilal creation and management.
Blodlverslty Offsettlng Fund WODC is lo mitlgate for the loss of blodlverslly Ihrough
development, by supporting habilal creation and management.
Blodlverslty Off80ttlng Fund - Oxford Clty is to mitigate for the loss of biodiverslty through
development, by Supporting habilal creation and manag8menl.
Blodivarsity Offsetting Fund Cherwell is to mitigate for the loss of biodiversity through
development, by supporting habitat creation and managemenl.
The Notwork Rail Fund 15 to support the processing of funds from Network Rail to woodland
management and creation projects that will deliver no net loss lo biodiversity in Oxfordshire
and Berkshire lo mitigate for the loss of woodland and scrub habitats during the electrification
of the Greater West Line.
The Tree Planting fund (previously named a5 The Queens Green Canopy Fund) represenls
funds donated by members of Ihe public, networks and companies and restricted to costs
associated with planting trees.
The CIL Fund SODC are funds provlded by SODC to support Communily-led projects in
South Oxfordshire that are aligned to the funding criteria laid down by the Aulhorily.
36

Trust for Oxfordshire's Environment (TOE) Llmlt•d
Notes to the Flnanclal Siatements
for tho year ended 31 March 2024 (contlnued
14.
Related party transactions
During the currenl period the charity engaged in the following transactions with relate
parties..
One of the Iruslees, Peter Shepherd, is also a Director of BSG Ecology. In 2023-
24 the charity was invoiG8d by this entity an amount of £3,595 for work carried out
during the year.
One of the trustees, Nicholas Thorn. is also 8 Director ?t the Hinksey Trail
Regeneration CIC. In 2023-24 TOE awarded £9.898 of grant funding lo this
organisation 12023.. £8.7671.
In both cases above, the trustees named were not involved in the decision-making process
or approval of expenditure for either transaction, an(J all amounts were paid al or below
market rates.
There were no other related party transactions during the current or preceding period.
37