## ANNUAL REPORT 2023 Trustees Annual Report Year ending 31 Dec 2023 Registered Charity 1146387 ## SUMMARY INFORMATION ## **Reference and administrative information** Charity Name: The Species Recovery Trust Charity Number: 1146387 Address: 37 Albany Road, Salisbury, SP1 3YQ Trustees: Jed Hamblin-Boone, Nicholas Berry, Fiona Jones-Perrott, Catherine Dyer. ## **Structure Governance and Management** ## **In 2023 we** - **delivered projects on 26 species at multiple sites across England and Wales** - **worked on a range of conservation projects on the overseas territories** - **built on our knowledge of several species to start captive breeding and re-release programmes** Type of governing document: Charity Constitution, as an unincorporated association registered with the Charity Commission on the 1st March 2012. There shall be no fewer than three trustees. New trustees must be members of the charity and are elected by the members in general meeting. The trustees may also appoint any person who is willing to act as a trustee. Trustees are recruited to give the trust a diverse skill base, and represent the fields of business, law, education and environment. They are invited to sit in on one meeting before deciding whether to put themselves forward for election. ## Objectives and Goals ## **Matching our goals** Our stated aims are as follows: _‘To promote the conservation and protection of species on the edge of extinction in the UK for the public benefit and to advance the education of the public on issues concerning the conservation and protection of such species.’_ The trustees have had regard to the guidance issued by the charity commission on public benefit. ## 2023 HIGHLIGHTS The following pages detail the conservation highlights delivered (and challenges faced) by our team members. ## **Vicky Wilkins- Programmes Manager** Photos © Geoff Oxford The Tansy beetle _Chrysolina graminis_ is an Endangered, brightly coloured leaf beetle found on wetlands and riverbanks, its largest population is on the river Ouse in York. The Species Recovery Trust supports 30 volunteers in York to survey a 45km stretch of the River Ouse record beetle numbers. The data is then used to assess population, as well as the size and location of its foodplants (Tansy and Marsh Woundwort). SRT and the Tansy Beetle Action Group (TBAG) then uses this data to improve habitat along the riverbanks. The habitat improvements appear to be working as 2023 saw a bumper year for Tansy beetles. Over 45,500 beetles were counted in 2023 and this number is then doubled to give a population estimate of 91,000. This is double the previous highest population estimate of 46,000 back in 2016; and more than 7 times the 2022 population estimate of 12,000 beetles. One key stretch south of the city saw 20,000 beetles counted by one surveyor! A recovery success for the Tansy beetle. The Tormentil mining bee _Andrena tarsata_ also had a good year on its stronghold site in Yorkshire at Allerthorpe where numbers had more than doubled compared to 2022. In 2023 land managers increased habitat in Yorkshire for this species by 120%. In the Overseas Territories, Ascension Island has new Protected Areas for invertebrates for the endemic Ascension Scaly crickets _Discophallus ascension_ , which are currently being red listed as Critically Endangered. On the island of St Helena the invasive project showed that a reduction of invasive ants, increased the abundance of rare endemic leafhoppers, including the Gumwood leafhopper _Sanctahelenia decellei_ which is red listed as Vulnerable. Over 100 species of endemic invertebrates from St Helena are currently being red listed to initiate and enable recovery efforts. Invertebrate surveys found that restoration sites in St Helena's Cloud Forests are creating new habitat for Spiky Yellow Woodlouse _Pseudolaureola atlantica;_ also a number of new species to science were discovered. ## **Holly Stanworth- Conservation Officer** Kentish Milkwort (Polygala amarella ssp austriaca) is now restricted to just two native sites in England, so our project has focussed heavily on identification of appropriate sites for reintroduction. Three new sites have been created over the past 5 years. **Bex House - Conservation Officer** Thanks to funding from Devon Environment Foundation, partnership organisations and our skilled volunteers work has continued on Deptford pink sites across the southwest. In Buckfastleigh land owners are now better equipped to manage land in a way that safeguards the survival of Deptford pink and the more difficult to access sites have been cut by contractors and vegetation removed. Further a eld sites adjacent to busy A38 now have **Dr Trevor Dines - Conservation Officer (Wales)** Some rather unexpected good (and bad) news from Wales, where we resurveyed Britain’s largest populations of Forked Spleenwort (Asplenium septentrionale) in Ceredigion, the first comprehensive survey of the plant there since 2005. This work is rather exciting, as the species relishes the collapsing walls and spoil tips of old lead mines. A total of **Dr Charlotte Carne - Conservation Officer** **Claire Bending - Conservation Officer** Surveys in spring 2023 revealed that Dwarf Milkwort was doing much better at Malham than previously thought, with 261 plants found on a site thought to be extinct, and two new populations being discovered near a known site. As this photo show the actual plants are too small to be seen from any distance at all, making surveying them a very technical and demanding process ## **Dominic Price - Director** In 2023 our work took a new course of action for many species as we started researching the feasibility of translocating species back into areas where they have gone extinct. For the last decade our focus has remained on conserving extant sites, and trying where possible to bring speices back through habitat restoration. During this time we have learnt more and more about the ecology and behaviours of the species, and now feel ready to start to attempt to move the species back to a combination of sites where they have either gone extinct, or new sites where ideal habitat is present. We had tried this work back in 2020 when we were faced with a potential county-level extinction with Field Cow-wheat in Wiltshire, and 3 years later one of the trial populations has now successfully regenerated twice (and we have learnt a lot from the sites that we lost). This year we started to move Marsh Clubmoss back into extinct sites in the Dorset Heaths, and watched in trepidation as some of the first transplants go through their rst year in the wild. If successful this will give us the chance to repopulate much of the last range of these species, bringing ourished **Fran Holmes- Training and Volunteer Officer** 279 sites were monitored in 2023 providing us with essential data on the health of endangered species nationally; of those 279 sites, 106 were monitored by volunteers. 40 volunteers sent in records in 2023 and we continue to build up our network of volunteer Site Monitors. A practical session on the Identification and Survey of Marsh Clubmoss at Studland Bay led to the recruitment of several new active volunteers in Dorset. Our training programme continues to grow, and in 2023, We offered 6 new online courses which proved very popular – Aquatic Plant ID, Grasses Part 2, Heathlands & Acid Grasslands, Invasive Species, Around Britain in 20 Rushes and Woodlands - Botanical Survey. Species Recovery Trust Training Income 2012 - 2023 £120,000 £100,000 £80,000 **----- Start of picture text -----**
£60,000
£40,000
£20,000
£0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Field Courses Online Courses Third Party Training Total Training Income
**----- End of picture text -----**
## IN PRINT… Book sales of our three publications remained strong, bringing in just over £31,000. The Grasses and Bryophtyes guides retained the top two places on the Natural History Book Society’s bestsellers. Work has now started on a Field Guide to Aquatic Plants, which we hope to release in 2025. ## FUNDRAISING We are hugely grateful to all these funders for supporting our work in 2023. |Natural England|Cicada and Cosnard’s Netwinged Beetle|£50,200| |---|---|---| |Natural England|Endangered Plants - England|£47,500| |RSPB (FDCO)|St Helena Cloud Forest|£23,500| |The Halpin Trust|Unrestricted|£22,550| |Ascension Island Government|Ascension endemic invertebrates|£16,109| |Natural England|Winter habitat works - Clubmoss and Sedge|£8,040| |Northumbria Water Branch Out|Field Gentian - North England|£8,000| |NE-LNRN|Field Gentian - Dales|£5,458| |Woodroffe Benton Foundation|Unrestricted|£5,000| |UKOTCF|Montserrat Homes for Wildlife|£5,000| |UKOTCF|Montserrat Development and Biodiversity|£5,000| |Valentine CT|Cicada|£5,000| |Michael Marks CT|Cosnard’s Netwinged Beetle|£5,000| |Rushmoor BC TAG Fund|Marsh Clubmoss|£4,500| |St Helena National Trust|St Helena Invasives|£4,000| |Lord Barnby|Unrestricted|£3,000| |Highland Rewilding|Highland Rewilding|£2,520| |Elsie Davis CT|Gentian Northumberland|£2,000| |Local postcode trust|Caddis Fly|£2,000| |Oakdale Trust|Endangered Plants - Wales|£1,000| |M J Camp|NE England Plants|£1,000| |St Nicks|Tansy Beetle|£1,000| |J&P Salter|Tansy Beetle|£1,000| |Percy Hedley Foundation|Field Gentian - North|£500| ## FINANCIAL REVIEW ## **Summary** The charity's total income was £311,046 (2022 - £234,702). The total expenditure amounted to £256,468 (2022 - £188,237). There was therefore a net overall surplus of £54,578 (2022 - £46,465). This can be analysed as a surplus of £41,866 (2022 - £32,861) in unrestricted funds and surplus of £12,712 (2022 - £13,604) in restricted funds. The main sources of income were Grants and fees for services £180,774 (2022 - £113,505), Training £93,835 (2022 - £99,026) and Books and other merchandise £32,900 (2022 - £19,541). The charity's main activities were project work and training. The main expenditure was staff costs £119,323 (2022 - £96,464) and subcontractors costs £82,101 (2022 - £62,750). The total funds at the year-end amounted to £285,626 (2022 - £231,049) of which £66,793 (2022 - £54,082) comprised assets held for restricted purposes, leaving £218,833 (2022 - £176,967) for general purposes. ## **Reserves Policy** Our current reserves policy is to hold one years’ running costs in our account, which is currently £158,000 ## **Declaration** The trustees declare that they have approved the trustees’ report above Signed on behalf of the charity’s trustees JED HAMBLIN-BOONE , Chair 23/3/24 The Species Recovery Trust is a charity set up to tackle the loss of some of the rarest species in the UK. There are over nine hundred native species in the UK that are classed as under threat, with several hundreds more currently widespread but known to be in significant decline. The countryside is now bereft of many species that were a familiar sight a mere generation ago. A small number of these species are on the absolute brink of existence, poised to become extinct in our lifetimes; our goal is to stop them vanishing. Our aim is to remove 50 species from the edge of extinction in the UK by the year 2050. In addition we are reconnecting people with wildlife and the natural world through training programmes and awareness raising. The Species Recovery Trust 37 Albany Road Salisbury SP1 3YQ 01722 322539 enquiries@speciesrecoverytrust.org.uk www.speciesrecoverytrust.org.uk Registered in England and Wales Charity 114387 ## **THE SPECIES RECOVERY TRUST** **(Charity Registration Number 1146387)** **TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023** **FLETCHER & PARTNERS** **CHARTERED ACCOUNTANTS** **SALISBURY** ## **THE SPECIES RECOVERY TRUST** ## **Contents** ||Page| |---|---| |Independent Examiner's report|1| |Statement of financial activities|2| |Balance sheet|3| |Notes to the accounts|4 - 10| ## **THE SPECIES RECOVERY TRUST** ## **Independent Examiner's report to the Trustees of The Species Recovery Trust** I report to the trustees on my examination of the accounts of The Species Recovery Trust (the Trust) for the year ended 31 December 2023, which are set out on pages 2 to 10. ## RESPONSIBILITIES AND BASIS OF REPORT As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("The Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## INDEPENDENT EXAMINER'S STATEMENT The Trust's gross income exceeded £250,000 and I confirm that I am qualified to undertake the examination by being a member of the Institute of Chartered Accountants in England and Wales. 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 Trust as required by section 130 of the Act; or (2) the accounts do not accord with those records; or (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. ## Signed: _Nicola A Halls_ Name: Nicola A Halls FCA Fletcher & Partners Crown Chambers Bridge Street Salisbury SP1 2LZ Date: 22nd April 2024 Page 1 ## **THE SPECIES RECOVERY TRUST** ## **Statement of financial activities for the year ended 31 December 2023** |Notes
**Income from:**
Donations
Grants and fees for services
2
Training
Books and other merchandise
Interest
Other income
**Total Income**
**Expenditure on:**
Staff costs
3
Subcontractor costs
4
Book printing and postage
Other costs
5
**Total Expenditure**
**Net income/(expenditure)**
Transfers between funds
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
12
**Total funds carried forward**
12|Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
1,871
500
2,371
12,201
168,573
180,774
93,835
-
93,835
32,900
-
32,900
1,166
-
1,166
-
141,973
169,073
311,046
16,951
102,372
119,323
14,195
67,906
82,101
12,741
-
12,741
22,927
19,376
42,303
66,814
189,654
256,468
75,159
(20,581)
54,578
(33,293)
33,293
-
41,866
12,712
54,578
176,967
54,081
231,048
218,833
66,793
285,626|Unrestricted
Restricted
Total
Funds
Funds
Funds
2022
2022
2022
£
£
£
2,401
-
2,401
10,139
103,366
113,505
99,026
-
99,026
19,541
-
19,541
131
-
131
98
-
98| |---|---|---| |||131,336
103,366
234,702| |||53,223
43,241
96,464
15,262
47,488
62,750
7,969
-
7,969
17,692
3,362
21,054| |||94,146
94,091
188,237| |||| |||37,190
9,275
46,465
(4,329)
4,329
-| |||32,861
13,604
46,465
144,106
40,478
184,584| |||176,967
54,082
231,049| The notes on pages 4 to 10 form part of these financial statements Page 2 ## **THE SPECIES RECOVERY TRUST** ## **Balance Sheet as at 31 December 2023** |£
£
**Fixed Assets:**
Tangible assets
8
658
658
**Current assets:**
Stock
3,733
Debtors
9
91,314
Cash at bank and in hand
243,989
339,036
**Liabilities:**
Creditors: Amounts falling due within one year
10
54,068
**Net current assets or liabilities**
284,968
**Total net assets**
285,626
**The funds of the charity:**
Restricted funds
12
66,793
Unrestricted funds
12
218,833
**Total charity funds**
285,626
2023|2022|2022| |---|---|---| ||£
£
1,593
1,593
4,495
66,533
183,202
254,230
24,774
229,456
231,049
54,082
176,967
231,049|| |||1,593
229,456| ||254,230
24,774|| |||| |||231,049| |||54,082
176,967| |||231,049| Signed on behalf of trustees by: _Nicholas Berry_ Chairman Approved by the trustees on 23rd March 2024 Page 3 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** ## 1. **Accounting policies** ## a. **Basis of preparation** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. In 2023 the charity's income exceeded £250,000 threshold and so the charity has moved from Receipt and Payment accounts to Accrual accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Species Recovery Trust constitutes a public benefit entity as defined by FRS 102. Its governing document is Charity Constitution, registered with the Charity Commission on the 1st March 2012. The registered office is 37 Albany Road, Salisbury, SP1 3YQ. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There are no significant judgements that affect items in the accounts. There were no significant assumptions made about the future and no other significant sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. - b. **Income** Income is recognised in the period in which the charity is entitled to receipt, receipt is probable, and the amount can be measured reliably. Income is deferred when the charity has to fulfil conditions before becoming entitled to use such income or where the donor has specified that the income is to be expended in a future period. ## Donations Donations from individuals are recognised upon receipt. ## Grants Income from grants, including grants from the UK Government and capital grants, is included in incoming resources when it is receivable, except as follows: 1) When donors specify that grants given to the charity must be used in future accounting periods, the income is deferred until those periods. 2) When donors impose conditions which have to be qualified before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met. When donors specify that donations and grants are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. ## Fees for services Income is recognised with reference to stage of completion which is based on proportion of cost incurred to costs to complete. ## Training income Training income is recognised on the date of a course. ## Book Sales income Book income is recognised on delivery to the customer. Page 4 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** 1. **Accounting policies (cont.)** - c. **Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. ## d. **Volunteers** No amount is included in the financial statements for general volunteer time in line with the Charities SORP (FRS 102). - e. **Tangible fixed assets** All assets costing more than £1,000 are capitalised. Depreciation is provided to write off the cost less an estimated residual value, of all fixed assets evenly over their expected economic useful lives on a straight line basis as follows: Website 20% Computers and equipment 33.33% ## f. **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. ## g. **Cash** Cash and cash equivalents comprise cash on hand and demand deposits. h. **Creditors** Trade and other creditors 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 are normally recognised at their settlement amount. ## i. **Pension Costs** Employer pension contributions payable to the Charity's defined contribution scheme are charged as expenditure in the period to which they relate. ## j. **Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments such as trade debtors and creditors with no stated interest rate and receivable or payable within one year, which are recorded at transaction price. ## k. **Fund accounting** Funds held by the charity are: Unrestricted funds - These are funds that can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds - These are funds that can only be used for particular restricted purposes within the objects of the charity. Restriction arise when specified by the donor or when funds are raised for particular restricted purposes. 2. **Grants and fees for services** |**Grants and fees for services**
Government grants and fees for services
Other grants and fees for services|2023
£
92,691
88,083
180,774|2022
£
57,524
55,981| |---|---|---| |||113,505| Government funded various conservation projects. There are no unfulfilled conditions or other contingencies attaching to these grants that have been recognised in income. Page 5 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** |3. **Staff costs**
Salaries
Social security costs
Defined contribution pension costs
Average number of employees|2023
£
103,912
5,619
9,792
119,323
3|2022
£
83,682
3,636
9,146| |---|---|---| |||96,464| |||3| No employees received employee benefits (excluding employer pension contribution nor employer national insurance contribution) of more than £60,000 in either 2023 or 2022. |4
**Subcontractor costs**
Project delivery
Training
Fundraising
5. **Other costs**
Travel and subsistence
Independent examiner's remuneration
for independent examination
for other accounting services
Selling fees
Training equipment
Consumables
Insurance
Depreciation
Sundry|2023
£
71,159
6,442
4,500
82,101
2023
£
12,406
1,500
13,619
7,650
1,860
592
240
935
3,501
42,303|2022
£
53,767
8,983
-| |---|---|---| |||62,750| |||2022
£
4,140
500
1,990
7,328
-
2,672
240
935
3,249| |||21,054| ## 6. **Key management personnel and related party transactions** The key management personnel of the charity comprise the trustees and the director. The trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil). The total remuneration of the director during the year was £67,217 (2022: £62,370) including employer national insurance contribution and employers pension contributions. There were no related party transactions in the year (2022: £nil). Page 6 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** ## 7 **Volunteers** The charity coordinates several volunteers who give time to help survey and monitor endangered species in the field. In addition, we organise work parties where groups of volunteers meet to carry out habitat management work, such as scrub removal, at selected sites. No amount is included in the financial statements for general volunteer time in line with the Charities SORP (FRS 102). ## 8. **Tangible fixed assets** |Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2022
At 31 December 2023
9.
**Debtors**
Trade debtors
Grants receivable
Other debtors
Prepayments and accrued income
10.
**Creditors**
Taxation and social security
Accruals
Deferred income - training|Computer
equipment
Website
£
£
3,373
3,015|Total
£
6,388
-| |---|---|---| ||3,373
3,015|6,388| ||2,040
2,755
675
260|4,795
935| ||2,715
3,015|5,730| ||1,333
260|1,593| ||658
-|658| ||2023
£
28,968
60,467
-
1,879
91,314
2023
£
8,268
20,388
25,412
54,068|2022
£
19,627
41,040
4,279
1,587| |||66,533| |||2022
£
5,000
2,060
17,714| |||24,774| All deferred income as at 31 December 2022 was released into the SOFA in the current financial year. Page 7 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** |11 **Deferred income reconciliation**
Balance brought forward
Amounts released to incoming resources
Amounts deferred in the period
Balance carried forward|2023
£
17,714
(17,714)
25,412
25,412|2022
£
23,992
(23,992)
17,714| |---|---|---| |||17,714| Deferred income comprises training receipts relating to courses taking place after the balance sheet date and grants with pre-conditions for use not yet met. ## 12. **Movements on funds** |**Unrestricted funds**
General fund
**Restricted funds**
Species funds
Darnel
Wart-biter
Tormentil Mining Bee
Heath Tiger Beetle
Field Gentian
Marsh Clubmoss
Heath Lobelia
Spiked Rampion
Field Cow-wheat
Rabbit Moss
Dwarf Milkwort
Tansy Beetle
New Forest Cicada
Window-winged Caddisfly
Cosnards Netwinged Beetle
Forked Spleenwort
Starved Wood-sedge
Deptford Pink
Childing Pink
Alpine Woodsia
New Forest Cicada and
Cosnard's Netwinged Beetle
UK Overseas Territories funds
Other restricted funds|Balance at
Transfers
Balance at
1 January
between
31 December
2023
Income
Expenditure
funds
2023
£
£
£
£
£
176,967
141,973
(66,814)
(33,293)
218,833| |---|---| ||176,967
141,973
(66,814)
(33,293)
218,833| ||1,177
2,000
(4,177)
1,000
-
30
-
(30)
-
-
8,411
100
(8,258)
-
253
6,859
-
(1,124)
-
5,735
(2,923)
30,458
(22,761)
1,295
6,069
2,139
9,500
(13,858)
2,220
1
-
5,000
(10,054)
5,054
-
599
4,000
(6,099)
1,500
-
-
4,000
(8,000)
4,000
-
2,200
-
(2,450)
250
-
3,888
5,000
(11,803)
2,915
-
5,000
2,500
(5,732)
-
1,768
-
5,000
(321)
-
4,679
-
2,000
(1,159)
-
841
-
5,000
(1,338)
-
3,662
-
3,000
(5,000)
2,000
-
13,441
2,500
(4,104)
400
12,237
-
5,000
(8,930)
5,000
1,070
-
3,000
(5,999)
3,000
1
-
500
(669)
169
-
-
10,021
(10,506)
485
-
-
2,409
46,944
(41,617)
1,515
9,251
10,851
23,550
(15,665)
2,490
21,226| ||54,081
169,073
(189,654)
33,293
66,793| Page 8 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** ## 13. **Movements on funds - Previous year** |**Unrestricted funds**
General fund
**Restricted funds**
Species funds
Darnel
Wart-biter
Tormentil Mining Bee
Heath Tiger Beetle
Field Gentian
Marsh Clubmoss
Heath Lobelia
Spiked Rampion
Field Cow-wheat
Rabbit Moss
Dwarf Milkwort
Tansy Beetle
Cosnards Netwinged Beetle
Starved Wood-sedge
Deptford Pink
UK Overseas Territories funds
Other restricted funds|Balance at
Transfers
Balance at
1 January
between
31 December
2022
Income
Expenditure
funds
2022
£
£
£
£
£
144,106
131,336
(94,146)
(4,329)
176,967| |---|---| ||144,106
131,336
(94,146)
(4,329)
176,967| ||-
2,000
(823)
-
1,177
190
-
(160)
-
30
-
15,500
(9,589)
2,500
8,411
8,625
-
(1,766)
-
6,859
-
4,200
(7,123)
-
(2,923)
800
2,500
(1,161)
-
2,139
-
3,000
(6,000)
3,000
-
1,930
1,042
(1,201)
(1,172)
599
-
4,000
(4,000)
-
-
-
2,200
-
-
2,200
3,085
2,300
(1,497)
-
3,888
-
5,000
-
-
5,000
3,377
2,000
(5,377)
-
-
16,410
-
(2,968)
-
13,442
1,000
4,600
(5,600)
-
-
-
46,024
(43,615)
-
2,409
5,061
9,000
(3,210)
-
10,851| ||40,478
103,366
(94,090)
4,328
54,082| ## **Unrestricted funds** General fund - The general fund represents the free funds of the charity that are not designated for particular purposes. ## **Restricted funds** These are funds that can only be used for particular restricted purposes within the objects of the charity. Species funds - Restricted funds for conservation of a specific species are disclosed separately. UK Overseas Territories funds **-** Separate restricted funds were also created for income restricted to UK Overseas territories. These were grouped together in the analysis above. Other restricted funds - Separate restricted funds were also created for income with other restrictions (e.g. income restricted for use in particular place of the mainland UK or income restricted for use in training of volunteers etc.). These funds were grouped together in the analysis above. ## **Transfer between funds 2022** Transfers from General fund to Restricted funds related to either funds the charity pledged to contribute on securing external restricted funding (2022: £2,500) or funds transferred to cover shortfall in Restricted funds (2022: £1,828). Page 9 ## **THE SPECIES RECOVERY TRUST** ## **Notes to the financial statements for the year ended 31 December 2023** 14. **Analysis of net assets between funds** |Tangible fixed assets
Net current assets/(liabilities)
15.
**Analysis of net assets between funds - Previous year**
Tangible fixed assets
Net current assets/(liabilities)|General
Restricted
Total
Fund
Funds
Funds
2023
2023
2023
£
£
£
658
-
658
218,175
66,793
284,968| |---|---| ||218,833
66,793
285,626| ||General
Restricted
Total
Fund
Funds
Funds
2022
2022
2022
£
£
£
1,593
-
1,593
175,374
54,082
229,456| ||176,967
54,082
231,049| ## 16. **Contingent asset** Before the year end the charity was notified of a legacy the exact value of which was not known at the year end as the charity's interest in the estate was residual. ## 17. **Transition** In 2023 the charity's income exceeded £250,000 threshold and so the charity has moved from Receipt and Payment accounts to Accrual accounts. The 2022 figures shown as comparisons in these accounts were recalculated on accrual basis. Page 10 THE SPECIES RECOVERY TRUST Cha i5tr*ion Number 1146387 TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 FLETCHER & PARTNERS CHARTERED ACCOUNTANTS SALISBURY THE SPECIES RECOVERY TRUST Contents Page Independent E￿Miner'S report Statement of ftnancial attl￿tIeS Balance Sheet Notes to the accounts 4-10 THE SPECIES RECOVERY TRUST Independent Examiner'5 report to the Trustees of The Species RecoveryTrust I report to the trustees on my examinatlon of the accounts of The SP￿les ReioveryTrust Ithe Trustl for the year ended 31 December 2023, which are sel out on page5 2 to 10. RESPONSIBILITIES AND BASIS OF REPORT the charEty trustees of the Trust you are responsible forthe preparatlon of the accounts In accordance with the requlrernents of the Claritles Act 20111'Yhe Aft'l. I report In respect of my examlnation of theTrust's xcounts carrfed out under sKtlon 145 of the 2011 Att and in carrying out my examlnation I have followed all the app?icable DireLtions grven bythe Charity Comrni551Dn undersettion 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT The Trust's gr05s Income exceeded £250.(X)O and I confirm that l am qJalrfied to undertake the examinatlon by being a member of the InStIt￿.e of Chartered Accountants in England and Wales. I have completed my examlnatlon. I conflrrn that no materfal mattefs have come to my attentlon In connection with the examlp.atlon glvin8 me cause to believe that in any Material respert.. 111 accountlng records were not kept In respect of the Trusi a5 requifed by sectlon 130 of the Act. or 121 the accounts do not accord with those records,. or 131 the accounts do not cornply wlth the appllcable reqvlrements conceming the fom and content of accounts set out in the Charitle5 (Accounts and Reports) Regulations 2￿8 other than any requirement that the accounts give a'true and fai." view, which Is not a Matter tonsldered as part of an independent examination. I have no concems ènd b.ave rome acr055 no other matters in ctsp.nection with the examinatlDn to which attentlon should be rawn in thls report In orderto enable a proper understanding of the accounts to be reached. Signed.. Name.. Nicola A Ha115 FCA Fletcher & Partners Crown Chambers Brldge Street Salisbury SPI 2LZ Date.. Page I Y4 o r4 t tn rfj ry i O ma iorriry r4 O M (o T4 THE SPECIES RECOVERY TRUST Balance Sheet as at 31 Deomber 21723 2023 2022 FL¥gd As59ts: Tan8lble ￿Sets 658 1,593 1.593 Str￿k Debtors Cash at bank in hand 3,733 91,314 243.989 4,49) 66,533 183,202 339.IB6 254.230 LkblHtIts: CredltOTS:ArnotuTrtsf311kn¥due withkn oneyear 54, 24.774 NatcurY•ntass•ts•rllablllths 284,968 Tot81 ngtaSg0ts 285,626 231,049 Th*fu#d5 of thÈ dwirr. Restricted fuods UnTe5tllcted fvT¥ts 12 66.793 21&833 54082 176.gwl 12 Total tharltyknds 285.626 231￿49 Slgned on behaW of trustee5 by-. Nkholas Berry Chalmi8n Appr d bythe trustees on Pa8e 3 THE SPECIES RECOVERY TRUST Notes to the flnancial statements forthe yearended 31 December 2023 AKountln{ polkles Bas1$ of preparation The flnan¢ial statemen&5 have been prepared under the historical c05t Convention wih itern5 fE(osni5ed at cost or transaction value unless othen￿lse stated in Lhe relevant notelsl to these accounts. In 2023 the charily's Income exceeded £250,COJ threshold and so the charjty has moved from Receipt and Payment account5 to Accrual accoLEnts. The W.nanclal staternents have been prepared in accordance wth the Statemenl of Recornmended Prartice- Actountlng and Reporting by Chadtles preparln8 thelr accounts In accor¢ance wtth the Flnanclal Reportlng Stafjdard 8pplicable in the UK and Republic of Ireland IFRS 1021 effectwe from l Jap.iJary 2019. the Financial Reporting Standard appllcable In the Vnlted Kln8dorp. and Republlc of Ire12nd IFRS 1021 arTd the Chartknes Act 2Qll. The 5pecles Recovery Trust constttutes a pub':ic benefit entity a5 def".ned by FRS 102. It$ 8overnin8 document Is Ch&rity Constltutlon, reg15tered with the Charlty Cornmi55ion oi the tst Marh 2012. The reglstered office 15 37 Albany Road, $8lisbury, SPI 3Y The trustees conslder that there a￿ no matedal uncertalntles aLx)th the charitys abllw to contlnue as a 80ing concern. ThÈre are no 518nrficant jud8ernents that affect rtems in the accounts. There were no slgnfflcant assumptions made about the ftrture and no other signlf.'cant sources of estimztion uncertalnty at the reportSn8 date that have o 5i¥ntlcant risk of caus￿8 a tnaterial adju5trnent io the carryi118 amounts of assets and .'labllities within the next financlal year. Incomè Income 15 T￿o8￿lsed in the period in which the charity is entrtled to receipt. receipt is prDbable. and the amount can be measured reliably. Income is deferred when the chartty has to fu￿1[ conditions before bECDmln8 entitled to u&e such incorne or where the donor has speclfied that +he income is to be expended in a future perlod. Donati Donatlons from Indlvlduals are recognised upon receipt. Grants Income frorm grants. Including grants frorn the UK Government and c8pltal grants, Is Included in incoming resources when It 1$ receivable, except as follows.. 11 When donors specify that grants glven to the charity must be used in future accountlng periods. the Incorne is deferred untrl those period5. 21 When donors impose condltlons whlch have to be q"'alfffed before the charity becomes entltled to use such income, the 1p.come Is deferred and not included in sncoming resource5 u.4ti1 the pre-condltion5 for use have been rllet. When donors specjfy that donations and grants are for partscular restricted purposes, which do not amount to pr conditions regarding entltlement. thls income is included in incoming resources of restricted funds when receivable, Fees lor semces Income 15 recognised wtth reference to stage of completion which is based on propgrtion of cost incurred to Costs to complete. Trainin Tralning Income is recognised on the date of a course. Book Sales income Book Income is recognised on dellvery tothe customer. Pa8e4 THE SPECIES RECOVERY TRUST Notesto the flnanclal statements for the year ended 31 December 2023 l. A¢(oyntlng pollcle5 l¢onLI Expendltu Expendlture Is recogn15ed once there 15 0 legal or ionstrudiye Dbll8atlon to make a payment to a third party, It Is probable that settlement will be required and the amount of the obllgation can bE measured rellably. All eKpendkture is pccounted for on an accruals basis. d. VoluDteers No 8mount1s included In the flnancial statements for general volunteer tirne In line wtth the Charities SORP IFRS 1021. TaDglble flxed assets All assets C05ti&l8 ￿Ore than £1,￿0 are capitali5ed. Depreclatlon Is provided to write off the cost less an estlrnated resldual value, of all flxed assets evenly over thelr expetted Konomlc useful lives on a 5traiBht line basis a5 follows: Webslte Computers and equipment 33.33% Debtors Trade and other debtors are recognised èt the settlement amount due after anyirade dlscount offered. g. Cash Cash and cash equS¥alents comprise cash on hand and demand dep05rts. Credltors Trade and other creditots are recognised vthere the chartty has o present oblwation resultin8 from a p8St event that will probably result In the transfer of funds to a third party and the amount due to settle the obligation can be rneasured or estimated reliably. Creditors are r￿mi?1￿ recognb5ed at their settlement amount. Pen5ioD Costs Employer pension contributions payable to the tharitys defined contribution stheme are charged a5 expendltu Sn the period to whlch they relate. Flnanclal Instruments The charlty only ha5 flnanclal assets and fln8nclal Ilablllties of a knnd that qua¥ify a5 basic financial &n5trument5 such as trade debtors and creditors with no stated interest rate and receivable or payable wfthin one year, which are recorded ai transaction price. Fund attountlng Fund5 held bythe charlty are.. nr gd￿1￿￿ I- These are funds th* can be ￿ed in accordance with the chartsble objects at the dlscretlon of the trustees. Restrlcted funds - These are funds that can only be used for partlcular restricted purposes wfthln the objects of the charity- Restriction arise when specified by the donor or when funds are raised for particular restrlcted purposes. 2. Grants and fees forservkes 2022 2022 Govemment grant5 and fees for5e￿CeS Other 8rants attd fees forservices 92,691 88,083 180,774 57,524 55,981 113.505 Government funded variou5 COll5eTvation project5. There are MI unfulfilled condltions or other continBeftcies atta¢hln8 tothe5e 8rants that have been reco8nlsed In Income. Page 5 THE SPECIES RECOVERY TRUST Notes to the financial statements for the year ended 31 December 2023 3. Staff costs 2023 2022 5al8ries Soclal security costs Deflned contribution pension costs 103,912 5,619 9,792 J19,323 83,682 3,636 9,146 95,464 Average nurnber of employees No employees recelved employee benef.ts lexcludln8 employer penslon contrfbutlon nor ernployer natlonal insurance contribution) of more than £60,￿0 in either 2023 or 2022. 4 Subcontraclorc05ts 2023 2022 Project dellvery TrdSnln8 Fundraisin 71,159 6.442 4,500 82,101 53.767 8,983 62,750 s, other Costs 2023 2022 Travel and subsistence Independent examlner's remuneration for independ2nt examination for other accountlng servSces Selllng fees Training equipment Consumables Insurance Depreuatlon Sundry 12,406 4,140 1,500 13,619 7,650 1,860 592 240 935 3,501 42,303 500 1.990 7,328 2,672 240 935 3,249 21,054 6. Key mana8ement peysonnel and related party ttansactlons The key mana8ement personnel of the charfry comprise the trustees and the direttor. The trustees were not paid or received any other benefi+.5 from employment with the charity in the year12022.. £nlll nelther were they reimbursed expenses during the year12022.' £nlll. The total remuneratlon of the director dudn8 the year was £67,21712022: £62,370) including employer natlonal insurance contribution and ernployers peision contribution5. There were no related partytransactlons in the year12022.. £nlll. Page 6 THE SPECIES RECOVERY TRUST Note5 to the flnanclal statements for the year ended 31 December 2023 Volunteets The charrty coordinate5 several volunteer5 who give time to help survey and monttor endangered specles In the field. In addltlon, we or8anlse work parties Whe￿ groups of volunteers meet to carry out habltat management warK suth as scrub removal, at selerted slte5. No amount is included in the financial staternents for general ¥olunteer tirne in line with the Charfcies SORP IFRS 1021. Tan8lble fixed assets compu.er equipment Web51te Total Cost At I january 2023 Addit10115 At 31 December 2023 3,373 3,015 6,388 3,373 3.015 6,388 Depreciation At l January 2D23 Charge for the year At 31 December 2023 2,755 260 3,015 4,795 935 5,730 675 2,715 Net book value At 31 Decernber 2022 At 31 Decernber 2023 1,333 658 260 1,593 658 Pebtors 2023 2D22 Trade debtors Grants recelvable Other debtor5 Prepayments and accrued incorne 28,968 60,467 19,627 41,040 4,279 1,587 66,533 1,879 91.314 10. Credltors 2023 2022 Taxatlon and soclal security Accruals Deferred income-training 8,268 20,388 25,412 54,068 5,000 2,060 17,714 24,774 All deferred Incorne a5 at 31 December 2022 was released into the SOFA in the current financial year. Page 7 THE SPECIES RECOVERY TRUST Notes to the financial statementsfor the yearended 31 December 2023 11 DefErred Income Teconclllauon 2023 2022 Balance brought forward Amounts relEased to incoffling resource5 Amounts deferred In the period Balance carrled forw8rd 17,714 117,7141 25,412 25,412 23,992 123,9921 17,714 17,714 DeferrEd incoiiie comprises training receipts relating to coursas tsking place after the balance sheet date and grants pr&conditions for use not yet mel. 12. Movements on funds Balance at l January 2023 Transfers between bJnd5 Balanie at 31 Decernber 2023 Income Expendlture Unrestrlrted funds General fund 176,967 176,967 141P73 141,973 166,8141 166,8141 133,2931 133,2931 218,833 218,833 Restrlcled funds Spec5es fvnds Darnel Wart-blter Tormentll Mining Bee Heath Tiger Beetle Field Gentian Marsh Clubmoss Heath Lobelia Spiked RampiDll Field Cow-wheit Rabbi* fvloss 48rf M;"Ikwort Tansy Beetle New Forest Ucada Window-wlnged C3dd*sfly Cosnards Netwlnged Beetle Forked Spleenwort Starved Wood-sedge Deprford Pink Childing Pink Alplne Woodsla New Forest Clcada and Cosnard's Netwinged Beetle UK Overseas Territorles funds Other restricted funds 1.177 30 8,411 6.859 12,9231 2,139 2.000 14.1771 1301 18,2581 11.1241 122,7611 113,8581 110,0541 16,0991 18,0001 12.4501 111,8031 15,7321 13211 11,1591 lJ,3381 15.0001 14.1041 18,9301 15,9991 16691 110,5061 loo 253 5,735 6,069 30,458 9,500 5,000 4,000 1,295 2.220 5,054 1,500 4,000 250 2,915 599 2.200 3,888 2.5 1,768 4,679 841 3,662 13,441 2.5C 400 5,000 3,000 169 12,237 1.070 5(XJ 10,021 46,944 23,550 141,6171 115,6651 1,515 2,490 9,251 21.226 lo￿51 54.081 169,073 1189.6541 33,293 66,793 Pa8e 8 THE SPECIES RECOVERY TRUST Notes to the flnanclal statements for the year ended 31 December 2023 13. Movements on funds- Pre¥lou5year Balance at l January 2022 Tran5fer5 between funds Balance at 31 December 2022 Income Expenditure Unres￿rted fvnd5 General fund 144,106 144.106 131,336 131,336 194.1461 194,1461 14,3291 14,3291 176,967 176,967 RertrlttÉd fund5 Specles fbnds Damel Wart-blter Tormentll Minlng Bee Heath fger Beetle Field Gentlan Marsh Clubrnos5 Heath Lobelia Spiked Ramplon Field CDW-whe Rabbit Mos5 Dwarf Mllkwort Tansy Beètle Cosnards Netwinged Beetle Starved Wood-sedge Deptford Pink UK Overseas Territories funds Other restricted funds 18231 11601 19,5891 11.7661 17,1231 11.1611 16,0001 11,2011 I4,￿0) 1,177 30 8,411 6,859 12,9231 2,139 190 15,5LX) 2,500 8.625 4.2LK) 2.StK) 3,OLK) 1.042 4,0 2.200 2.300 8(KJ 3,000 11,1721 1,930 599 2,200 3,888 5,000 3.085 11,4971 3.377 16.410 15,3771 12.9681 15,6001 143,6151 13.2101 13,442 4.600 46,024 9.000 2,409 10,851 5.061 40,478 103,366 194,0901 4,328 54,082 Unrestrlcted funds Quetdi ￿f nd- The general fund represents the free fund5 of the tharity that are not designated for partlcular pUr￿seS. Restrlrted funds These are funds that can only be used for partscular Testrfcted pU￿*Se5 wlthin the objects of the charlty. ecles funds- Restrttted funds forcon5ervatTon of a 5pecffit species aTe disclosed 5eparatelv. K Overseas Territories f￿- separate restrlcted fvnds were alw created for Incowe re5trirted to UK CTrer5eas un terrltories. These were 8rouped together the analy5i5 above. Other ￿StrictEd fund5 Separate restricted funds were also created for income with other ie5trictiQn5 le.g. Income restricted for use In particular plece of ihe mainland UK or Income restricted for use in tTrinlng of volunteers etc.l. T.iese.unds were groupedtogether in the anatysis alx)ve. Trdllsfér between funds 2022 Tran5fer5 from General fund to Restricted funds related to etther fund5 the charity pledged to contribute on securing extemal re5trfcted funding12022= £2,SiX)l or funds translerred to cover shortfall In Restrirted funds 12022.. £1.8281. Page 9 THE SPECIES RECOVERY TRUST Notes to the financlal statements for the year ended 31 December 2023 14. An?lysls of net a55ets between funds General Fund 2023 Restrlcted Total Funds Funds 2023 2023 Tanglble flKed assets Net current a5sets/lliabilitie51 658 218,175 218,833 658 66,793 284,968 66,793 285,625 15. A￿alySIS of nel a95ets between fvDds- Previous yèar Generdl Fund 2022 Restricted Funds 2022 Total Funds 2022 Tan8lble fiKed assers Net current a5set511liabilitie51 1.593 175,374 176,967 1.593 54,082 229,456 54,082 231.049 1£. Contln8ent asset Beforethe year end ihe Char￿WaS notlfied of a legacythe exartvalue of which was not known at the year end as the chaTitls interest in the estate wa5 residual. 17. Transltlon In 2023 the charitV5 Income exceeded E250.COJ threshold and $0 the charity has moved from Receipt 2nd Payment accounts to Accrual accounts. The 2022 figures shown as compari50n5 in these accounts were recalculated on accrual basis. Page 10