2023-03-31-accounts - The Marlborough Downs Nature Enhancement Farming

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The Marlborough Downs:

Space for Nature

Eleventh Annual Report

Dr Jemma Batten

Marlborough Downs Space for Nature Project Manager Arnolds Hill Farm Cottage Arnolds Hill – Wingfield – Trowbridge – Wiltshire BA14 9LD

 07855 506112

 jemma.batten@blacksheepcountryside.co.uk

The Marlborough Downs Nature Enhancement Farming Ltd

(A company limited by guarantee)

Report and Unaudited Financial Statements for the year to 31st March 2023

Company Number : 7907437

Registered Charity Number : 1147925

The Marlborough Downs Nature Enhancement Farming Ltd.

(A company limited by guarantee)

The trustee board presents its directors’ report and unaudited financial statements for year to 31 March 2023.

ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

Company Registered No : 7907437

Charity Registered No : 1147925

Principal Address: Arnolds Hill Farm Cottage, Arnolds Hill, Wingfield, Trowbridge, Wiltshire BA14 9LD

Registered address: Arnolds Hill Farm Cottage, Arnolds Hill, Wingfield, Trowbridge, Wiltshire BA14 9LD

Trustees that served during the period:

Christopher Musgrave – Chair
Marcus Robert Cooper
Robin Butler
Gillian Carter
Peter Lawson
Victoria Lowes
Piers Maynard
Matthew Moore

Project Management: Black Sheep Countryside Management – Lead Dr Jemma Batten

Independent Examiner

Helen Frost, HF Bookkeeping Plus, 1 Forest Hill Cottages, Marlborough, Wiltshire SN8 3HN

Bank

Barclays Bath Branch, 4-5 Southgate Street, Bath BA1 1AQ

The Marlborough Downs Nature Enhancement Farming Ltd.

(A company limited by guarantee)

REPORT OF THE TRUSTEE BOARD

1. Chairman’s Introduction

The group has now been together for almost twelve years and we’ve done a lot, first with NIA funding, then with various grants from the Science Museum, FiPL, Thames Water, the North Wessex Downs Sustainable Development Fund, as well as donations from the Kilcreggan and ByBook Trusts, not to mention, of course, subscriptions from members and ad hoc donations from other supporters. However, we are now at the stage where our financial situation demands that we review the future of the partnership so that we can decide how we want to take things forward.

Covid lockdowns and restrictions had a big impact on everyone’s life, and the group suffered from not being able to get together for workshops, visits and other activities. Post Covid, engagement hasn’t really picked up and we’ve had to cancel several events due to poor uptake or last minute drop outs.

FiPL funding has meant that one area that has grown since Covid has been the community and outreach programme led by Janinka. This funding will come to an end in March 2024, and Janinka has given notice that she will be moving on to something new at that point. We have always had an active outreach programme, of which we should be very proud, but it was intended as a showcase for the work the Partnership is doing to support the landscape and wildlife of the Downs, and with the recent lack of group activity, it’s difficult to justify the work that would be required to apply for further funding and deliver a new outreach programme.

This group was set up to be farmer-led, and was ground-breaking in that context back in 2011. However, without more input, support and engagement from the members, it’s difficult to envisage how it might continue in its current form. The board is therefore now in the process of consulting with the membership to find out how they would like to take the group forwards, and we very much hope that we will continue to function in some form for many years to come.

Chris Musgrave

Chair

2. Structure, governance and management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 12 January 2012 in preparation for the potential success of a bid application submitted to Natural England, which was then awarded on March 2012, and registered as a charity on 3 July 2012. The company was established as ‘The Marlborough Downs NIA’ under a standard Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. On 16th December 2015 the Charitable Company was renamed as ‘The Marlborough Downs Nature Enhancement Farming’.

Organisational Structure

The Marlborough Downs Nature Enhancement Farming charity has a board made up of farming and non-farming trustees and invited associates. Chris Musgrave is the chair of the charity board. The board delegates operational activities to two delivery groups: the Biodiversity and Landscape Group and the Community Outreach Group.

Projects are a collaboration between the farmers of the Marlborough Downs (who are members of the Marlborough Downs Nature Enhancement Farming charity), Black Sheep Countryside Management (responsible for project delivery), and various other stakeholders. Board meetings are run as project board meetings and for this purposes representatives from non-farming members and partner organisations have been co-opted to the board. They are:

Victoria Lowes, Piers Maynard and Christopher Musgrave, Associate Member representatives
Jemma Batten, Senior Consultant, Black Sheep Countryside Management

Other key stakeholders may be invited to attend board meetings from time to time. All strategic decisions are taken at these properly constituted project board meetings. All agenda items are supported by board papers, which include a risk analysis and clear recommendations to be discussed and considered. The decisions are clearly minuted and these minutes with actions are circulated and made available to all members via the website.

Recruitment & Training

This is the eleventh year of the charity and this report covers the year ended 31st March 2023. The charity continues with the same overall aim as in previous years. All bar one of the trustees are currently or have previously been farmers and represent the farming community in the Marlborough Downs area. Some have been on the board from the start of the charity and others have joined since. At the 2018 AGM it was agreed that non-farmer associate members should also be allowed to vote and to stand as trustees as long as the majority of the board remains as farmer members. No new trustees were appointed in the year to 31st March 2023.

The skills of the project board and their advisers are considered to be appropriate for the requirements of the charity’s objectives and have been able to meet the ever increasing challenging project targets over the year. Trustees are offered training to fill any further gaps identified and if required additional trustees with new skills would be recruited.

3. Financial Review

The majority of this year’s income was derived from a Farming in Protected Landscapes grant for community events and outreach activities. Additional income has been generated through

Fundraising events including Open Farm Sunday
Subscriptions from farmer members
One-off donations

Activities	Income	Spend	Under/over- spend
Community	£18,910	£17,866	£1,044
Landscape	£1,921	£8,400	(£6,479)
Overheads	£4,846	£7,153	(£2,307)
Total	£25,677	£33,419	(£7,742)

Please note: All figures are rounded to the nearest £1. Numbers in brackets are negative, ie overspend.

£49,376 of restricted funding was brought forward (Landscape).

Reserves Policy

The policy on reserves is accepted as being minimal as offices are virtual and all work is undertaken by volunteers or contractors. Generally, a reserve of £4,000 for unforeseen events is considered adequate as this could cover half a year’s management costs in an emergency. As of 31 March 2023 we had £2,057 unrestricted funds in reserve which is not considered adequate, hence the decision to review the future of the organisation.

Donations In Kind

In addition to the actual management of the budget, the charity benefits from items and services donated as ‘in kind’. As in previous years, much of this has been in the form of pro bono staff time to support the project, donated items including seed, habitat management activities, and free venue and facility use. Volunteer time accounted for a high proportion of activities undertaken including project management time. However, the majority of this was not recorded due to the lack of reporting and paid support time to record and collate.

4. Funds held as custodian trustee on behalf of others

The trustees act as custodians and ultimately the controlling group of the funds held. This was limited during the year as explained above. Otherwise, no funds are held on behalf of others.

5. Public benefit statement

The Marlborough Downs Nature Enhancement Farmers Ltd and Charity aims to deliver a more biodiverse, more attractive and more accessible landscape. Alongside these obvious, tangible benefits come a suite of gains that may be more difficult to quantify but are known collectively as ecosystem services. Such gains include improved water quality due to reduced agricultural inputs; a contribution towards the physical and mental health of residents and visitors through access to green spaces and fresh air; mitigation against climate change through building robust ecological networks; better crop pollination; support for a strong rural economy via agriculture, tourism and recreation; and the social, cultural and educational benefits that are a result of interaction with nature.

The partnership is driven by the fact that despite decades of conservation effort, many of our habitats and species are at best stable and at worst in decline and while most of the farmers in the area have long been involved in environmental schemes, we have shown that the farmer-led, bottom-up approach of this initiative can lead to far greater and more wide-reaching benefits as a result of the ‘ownership’ conferred on us by this project. We are also convinced that the potential for the long term delivery of this project is far higher than for others that rely upon financial incentives rather than personal commitment. We understand that a landscape-scale approach cannot succeed without widespread farmer involvement and we ensured that all farmers in the area had the opportunity to contribute to the development of the project.

As well as environmental and conservation benefits there is an emphasis on education of the public through volunteer activities to support the project as well as direct educational activities provided by the project. These activities are community based and work with existing groups so also promote community working and cohesion as groups and individuals are brought together with a common

aim. We are working with local communities to encourage more involvement in the countryside and to promote greater awareness of landscape, wildlife and farming. We are keen to enthuse people about the countryside and get the non-farming community involved with activities on and about the Downs through events and activities, workshops and work parties. We are working to provide better public access and information to encourage people to enjoy and understand the landscape while improving their health and wellbeing.

6. Objectives and activities

The objectives as laid out for the Company in the initial incorporation document were:

To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment.
To advance the education of the public in the conservation, protection and improvement of the environment.
To promote sustainable development for the benefit of the public by the preservation, conservation and the protection of the environment and the prudent use of resources.
The promotion of sustainable means of achieving economic growth and regeneration.

7. Achievements and performance Year 11 (April 2022 to March 2023)

Month	Meetings Board Delivery Group	Meetings Board Delivery Group	Funding applications	Date and event	Date and event	Venue (and number attending)
Apr	✓		Countryside Stewardship	Space for Nature Reserve - habitat creation and management	21stBird feeder crafts	Fiddlers Hill (20)
May		COG B&L			14thDawn Chorus	Berwick Bassett (36)
					11thSpring Celebration	Avebury Social Club (20)
					18thSoilmentor training	Weir Farm (9)
Jun					2ndJubilee Beacon	SfN Reserve (100+)
					6thTree sparrows	Manor Farm, Berwick Bassett (7)
					12thOpen Farm Sunday	East Farm (500+)
					24thFarm walk & picnic	Parsonage Farm (34)
Jul	✓				12thVolunteer event	SfN Reserve (26)
					16thButterfly Walk	SfN Reserve (18)
Aug		COG			2nd, 9th, 16th, 23rd& 30thSchool holiday events	Various (64)
					6thPermaculture Group	Manor Farm, Berwick Bassett and East Farm (9)
					23rdUkranian tea party	SfN Reserve (51)
Oct	✓				7thBat walk	Avebury (20)
					24th, 26th, 28thNight safaris	Various (12)
					27thHibernation & Migration	SfN Reserve (23)
Nov					3rdSeasonal Supper	Marlborough Golf Club (29)
					19thWillow wreaths	Broad Hinton (22)
					22ndSoilmentor training	Online (6)
Dec		COG			6thNatural Capital Forum	Marlborough Golf Club (34)
					14thWeed control talk	Online (12)
					17thSeasonal crafts	East Farm (25)
Jan					12thVolunteer event	Bay Bridges/Barbury Castle Estate (4)
					29thVolunteer event	Maisey Farm (12)
Feb					14thWood crafts	SfN Reserve (30)
					18thBird ringing for Kids	Bedwyn Common (14)
Mar					12thSpring Clean	The Ridgeway (6)
					18thWillow wreaths	Broad Hinton (17)

COG = Community and Outreach Group; B&L = Biodiversity and Landscape Group

More details can be found under the relevant objective headings that follow.

OBJECTIVE 1 – To deliver evidence-based conservation activities on a landscape scale

1.1 Biodiversity tailoring

Detailed knowledge of what’s happening beyond individual farm boundaries enables us to deliver on a landscape scale.

1.1.1 Existing Stewardship agreements

The project management team continues to support members in their delivery of individual Environmental Stewardship (ES) and Countryside Stewardship (CS) agreements. At the beginning of 2023, these covered over 76% of the 8,768 hectares farmed by members which is significantly more than the national average (the most recent published figures (2020) indicate that just 20% of land in England was covered by an ES or CS agreement).

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Green – members’ holdings
Dark green – Stewardship agreements
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1.1.2 New Stewardship agreements

Two higher and two mid tier applications were supported in 2023, all of which were successful. The resulting agreements include activities to create habitat for pollinators and farmland birds, manage hedgerows, species-rich and semi-improved grassland, protect archaeology, improve soil health, mitigate against diffuse pollution, preserve genetic diversity in traditional breed livestock, and deliver environmental education.

1.1.3 Dissemination of best practice

The group registered for a Soilmentor account which enabled members, via a Smartphone app to record observations and photos, which are visualised to spot trends, refer to benchmarks and make comparisons. The package is designed to encourage groups of farmers to monitor soil health and biodiversity together, making it easy to see headline numbers, compare data and get tailored advice for different soil types. The initial response from members was positive, with representatives from eight holdings attending training on how to carry out and record the results of various tests to assess soil health and wildlife. Unfortunately though, the weather through late spring and summer was so dry that it was virtually impossible for individuals to replicate those tests on their farms. A refresher training session was offered in the autumn but cancelled due to lack of uptake, and an online session arranged to demonstrate data collation and comparison. However, by the end of the year’s subscription, only a couple of members had uploaded any data so the account was allowed to lapse.

Members also received training on another app that can be used to upload and collate all the records that are required for Countryside Stewardship agreements. This is now being used to good effect by several members with multiple and/or complex agreements.

Our events and outreach co-ordinator has set up Space for Nature LIVE, an online library of behindthe-scenes footage of farming life and snippets of our diverse wildlife, linked to our social media accounts. This is aimed at encouraging members to share best practice via video clips and photos but so far participation has been minimal.

Other best practice events offered to members included an online talk by John Pawsey, organic farmer, on weed control in minimal and no tillage cultivation systems, and a trip to Pipers Farm in Devon (cancelled twice due to lack of uptake). More successful was a Natural Capital Forum, at which farmers heard from expert speakers on how to measure, monitor and monetise natural capital, including via biodiversity net gain, carbon markets, and other local schemes.

Additional ‘best practice’ activities associated with particular habitats and/or species are detailed under the relevant Objective headings below.

1.2 Supporting local conservation businesses

We continue to have excellent relationships with many local businesses and other organisations involved in farming, conservation, land management, and other countryside activities, and communicate and collaborate on an ad hoc basis. For example, we collaborated with another local

charity, Action for the River Kennet, to create a new area of wetland, and have used local contractors, Wessex Woodland and James Vigor-Smith, to carry out establishment and maintenance work at the Space for Nature Reserve.

OBJECTIVE 2 – To enable appropriate management of semi-natural wildlife habitat

2.1 Restoring Resilient Ecosystems

We continue to contribute to the Restoring Resilient Ecosystems (RestREco) project, which is a collaboration between Cranfield University, UK Centre for Ecology & Hydrology, University of Stirling, National Trust and Forest Research. The aim is to determine the most efficient approaches to restore complex, multifunctional and resilient ecosystems, thus securing net environmental gain, and following on from last year’s floral and invertebrate diversity surveys, CEH researchers have erected a rainfall exclusion shelter on one of the sites to explore the impact of drought on the flora and fauna of species-rich grassland. At the annual Seasonal Supper, members were given a comprehensive and fascinating summary of the initial flora and invertebrate survey results by Dr Ben Woodcock from CEH.

2.2 Wildlife corridors and stepping stones

2.2.1 On-farm delivery

With over three-quarters of the land covered by the Space for Nature project in some kind of Stewardship agreement, it’s not surprising that there’s an immense amount going on across the Downs in terms of environmental activities. The focus is very much on providing habitat and foraging sites for wildlife, with grassland and hedgerow management, along with the provision of rough grass margins, plots of seed-bearing crops for farmland birds, and areas nectar-rich plants for invertebrates being most popular.

2.2.2 Space for Nature Reserve

Major works on the Reserve were all more-or-less completed by the end of 2022 and the site now boasts a whole host of features including:

Species-rich grassland
Tree sparrow village
Woodland and scrub
Hedges
Fruit trees
Wildlife pond
Chalk pit
Bug hotel, bird, bat and invertebrate boxes
Stumpery and log piles
Wild bird mix
Nectar mix
Fallow plots
• Arable crops
Tussocky grass margins

The Reserve has been put to good use, with several events being held there throughout the year during which the close proximity of the various habitats and structures have allowed us to demonstrate our work to visitors.

2.2.3 New wetland complex

In partnership with Action for the River Kennet, we have created a wetland complex in an area close to parking and accessed via a public footpath. The site provides a series of pools of varying depths, extensive planting of wetland vegetation, and scrubby areas for farmland birds and terrestrial invertebrates. Although still in the early stages of establishment, the site’s proximity to an adjacent Reserve belonging to the Wiltshire Wildlife Trust makes it an important element in the wider landscape.

OBJECTIVE 3 – To consolidate populations of species of national and local importance

3.1 Space for Birds: Marlborough Downs farmland bird project

Our volunteer farmland bird adviser, Matt Prior, of Wiltshire Ornithological Society, continues to co-

ordinate our three-pronged approach to farmland bird conservation:

Year-round feeding opportunities for adults and spring/summer insect food for chicks
Nesting habitat
Protection from predators where predation significantly threatens breeding success

3.1.1 Feeding and foraging habitat

As in previous years, most of our members continue to provide overwinter stubbles, sown wild bird mixes and/or nectar mix plots via Stewardship agreements, and/or on a voluntary basis.

3.1.2 Supplementary feeding

Members continue to feed over 20 tonnes of seed annually to our farmland birds over winter, either scattered on the ground or through giant bird feeders purchased by the charity at a reduced rate.

3.1.3 Farmland bird events

We have hosted several events throughout the year, aimed at both members and the wider community. These included a Dawn Chorus walk, a workshop on best practice management for tree sparrows, and three night safaris with an infrared camera, led by Matt Prior, who also spent a morning trapping and ringing farmland birds with local children.

3.2 Widespread species

Our regular butterfly and bat walks proved as popular as ever, though number were down on the former because of the extremely hot weather.

OBJECTIVE 4 – To offer a range of opportunities for people to engage with the landscape of the Marlborough Downs

OBJECTIVE 5 – To provide high quality access for all

OBJECTIVE 6 – To increase local and national awareness of the work, achievements and impact of the Space for Nature Project

4.1 Marlborough Downs SfN events

4.1.1 Public events

Our events co-ordinator, Janinka Diverio, has proved to be a great success and has curated and executed our exciting and broad programme of events highlighting nature, farming, wellness and the arts whilst making Space for Nature. The programme has thus far proved very successful and has been well-supported by the local community – full details at Annex 1.

In addition to public and special interest events, the programme has delivered four volunteer workshops, one with Arval Car Leasing staff and Buglife (habitat for pollinators), one with friends of the partnership (welcome to Ukrainian refugees), and two with Action for the River Kennet volunteers (installation of kissing gate and finger post, and shrub planting at the wetland complex). Member Jilly Carter has also hosted visits to the Space for Nature Reserve by residents of a local care home.

4.1.2 Space for Nature WILD

In January 2023 we launched a new venture - Space for Nature WILD. This is a monthly forest school hosted at Weir Farm and offers themed morning sessions with a whole range of activities aimed at children aged six years and over.

4.2 Access improvements

As has been mentioned (section 2.2.3), a new wetland complex has been created in a publicly accessible area. As well as having access to the site, people can find out more about the River Kennet and its flora and fauna from a newly installed information panel. In addition, a new kissing gate and finger post have been put in by volunteers at the point where the footpath to the wetland site starts from a local parking area.

4.3 Outreach

Janinka has been very active on our behalf on social media, and we now have over 3,200 followers on Facebook and 1,000 on Instagram. She also distributed Space for Nature 2023 calendars featuring wildlife photographs of the Downs by local farmer and group member David White.

4.4 Partnership working

As has been mentioned, we have started to build relationships with other local organisations after the hiatus in activities necessitated by Covid restrictions. We have particularly strong ties to Action for the River Kennet, the Woodland Trust, Farming in Protected Landscapes and the North Wessex Downs AONB, Buglife, Arval Car Leasing, the Centre for Ecology and Hydrology, and Wiltshire Ornithological Society.

8. Progress Planned for future Years

As has been stated, although we have activities and events planned for the first half of the year 2023-

24, the board intends to undertake a full review of the future of the partnership and project, to include

Organisational structure
Governance documents
Project aims and objectives
Day-to-day project management
Funding

Members will be asked to contribute their opinions and aspirations, and to actively re-engage with the partnership.

Board Statement This report has been prepared in accordance with the Statement ol Recommended Practice.. Accounting and Reporting by Charities (issued March 2005). In preparing this report. the Trustees have taken advantage of the small companies exemptions provided by section 419 {2) of the Companies Act 2006. It was approved by t tru tee bo n 2° November 2023. Signed: Christopher Musgrave Chair Date.. 2 November 2023 Dd 17

Independent Examiner’s report to the Trustees of The Marlborough Downs Nature Enhancement Farming Ltd

(A Company limited by guarantee)

I report on the accounts of the company for the year ended 31st March 2023, which are set out on the following pages.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this year under part 16 of the 2006 Act and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

examine the accounts under section 145 of the Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

accounting records are not kept in accordance with section 386 of the Companies Act 2006; or
the accounts do not accord with such records; or
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘’true and fair’ view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the Charities SORP (Statement of Recommended Practice), FRS102.

I have no concems 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 proper understanding of the accounts to be reached. Signed.. obL Helen Frost HF Bookeeping Plus 21 Farm Lane Aldbourne Marlborough Wiltshire SN8 2DS Date.. hiJZ 19

THE MARLBOROUGH DOWNS NATURE ENHANCEMENT FARMING LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

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Unrestricted Restricted
funds funds Total Total
2023 2023 2023 2022
Notes £ £ £ £
Income from:
Donations and legacies 3 5,214 15,098 20,313 29,799
Charitable activities 4 5,076 288 5,364 1,772
Total income 10,290 15,386 25,677 31,571
Expenditure on:
Raising funds 5 605 - 605 1,935
Charitable activities 6 10,898 21,915 32,813 12,438
Total resources expended 11,503 21,915 33,419 14,373
Net income/expenditure for the year/
Net movement in funds (1,213) (6,529) (7,742) 17,198
Fund balances at 1 April 3,270 46,106 49,376 32,178
Fund balances at 31 March 2,057 39,577 41,634 49,376
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The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE MARLBOROUGH DOWNS NATURE ENHANCEMENT FARMING LIMITED BALANCE SHEET ASA r31 MARCH2023 2023 2022 Notes Current assets Debiors Cash at bank and in hand 7,070 36.917 1,050 52,507 43,987 53,557 Creditors.. amounts falling due within one year io 2,353 4,180 Net current assets 41.634 49,376 Income fvnds Resiricted fund5 39,577 2,057 46.106 3,270 Unrestricted funds 41,634 49,376 The company is eniiiled to the exemption from th8 audii requiremont contained in sec¢ion 477 of Companies Act 2(N)6. for the y8ar 8nded 31 March 2023. The directors acthowledge their re5ponsitsilities for ensuring that the charity keeps ac¢ountin9 records which Comp with section 386 01 the Act and f preparing financial statements which give atrue and fair view of the siaie of affairs of the company as ai the end ol the financial year and ol its incoming resources and application of resources. Including ils income and expenditure, for the financial year In accordance with the requirements of sections 394 and 395 and which otherwise comply with Ihe requirements ol th8 Companies Act 2006 relating (o financial statements. so far 8s applicable to the company. The members have not required the company to obtsin an audit of its financial Statements for the year in question in accordance with section 476. However, the acco(Jnrs hav8 been rèviewed by the independent examiner and. separately and independendy, compliance checked before Submisson to Companies House and the Charities Commission. These financial statements have been prepared in accordarce with the provisions applicable to companies subjeci the the small companies regime. The financial staiements wer proved by the Trustees on 2nd November 2023. MrCBMu rave Trustee Company Reglstration 0. 07907437 21

THE MARLBOROUGH DOWNS NATURE ENHANCEMENT

FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2023

1 Accounting policies

Charity information

The Marlborough Downs Nature Enhancement Farming Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Jindabyne, Great Hinton, Trowbridge, Wiltshire, BA14 6BT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Marlborough Downs Nature Enhancement Farming Ltd ("the company")’s Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The is a Public Benefit Entity as defined by FRS 102.

The company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are as follows:

Restricted fund Purposes Uses in 2022/23 Livestock field shelter; woodland management; event resources; Creation of nature reserve Kilcreggan Trust wildflower seed and establishment costs Farmland bird project None

Restricted fund Purposes Uses in 2022/23 Soil health training, monitoring and Bybrook Trust Conservation agriculture evaluation; best practice workshops Farming in Protected Landscapes Public event programme Community events and outreach Access infrastructure Kissing gate Other restricted Winter bird seed None

1.4 Incoming resources

Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.

1.5 Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the company to pay out resources.

This includes £415 for accounts preperation and examination. There are no costs for governance or trustee meetings or constitutional matters.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The company has elected to apply the provisions of Section 11 ’Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable

within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
2023
2023
£
£
Donations and gifts
5,214
360
5,214
360
4
Charitable activities
2023
£
Sales within charitable activities
-
Grants
14,738
Other income
5,364
20,103
5
Raising funds
2023
2023
£
£
Fundraising costs
605
-
605
-
Unrestricted
funds
Restricted
funds
Charitable income
Unrestricted
funds
Restricted
funds

Total
Total
2023
2022
£
£
5,574
29,799
5,574
29,799
2022
£
-
1,050
722
1,772
Total
Total
2023
2022
£
£
605
1,935
605
1,935
Charitable income

6	Charitable activities	Charitable expenditure	Charitable expenditure
		2023	2022
		£	£
	Habitat creation/management	3,076	1,926
	Farmland bird programme	-	492
	Community events	15,347	710
	Workshops	3,111	540
	Access infrastructure	290	-
	Outreach/promotion/printing	1,124	102
	Bank charges	490	1
	Insurance	389	86
	Office expenses	93	48
	Meeting expenses	69	31
	Employee travel	524	163
	Share of governance costs (see note 7)	24,514 8,299	4,099 8,339
	Analysis by fund	32,813	12,438
	Unrestricted funds	10,898	8,385
	Restricted funds	21,915	4,053
7	Support costs	32,813 Governance costs	12,438 Governance costs
	Legal and professional	2023 £ 7,884	2022 £ 7,394
	Accountancy	415	945
	Analysis by fund	8,299	8,339
	Unrestricted funds	7281	6,769
	Restricted funds	1019 8,299	1,570 8,339

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the company during the year.