CHARITY COMMISSION Foundation For Common Land (A company limitgd by guaranteo) Annual Report and Financial ststements 30 June 2024 Company registration number: 08113120 Charity registration number: 1150439 dOdd&co Foundatlon For Common Land Contents Reference and Administrative Details Trustees. report Trustees. responsibilities in rèlation to the finan¢ial statements Independent examinerfs report statement of fin8n¢ial activities 10 11 Balance sheet 12 Notes to the fin8n¢ial s18ternents 13 Foundation For Common Land Reference and Administrative Details Charity namè Foundation For Common Land Charfty registration number 1150439 Company r•gl$tratlon numbèr 08113120 Principal office Low Nook University of Cumbria Rydal Road AMBLESIDE LA22 9BB Règlsterod office Low Ni)ok University of Cumbria Rydal Road AMBLESIDE LA22 9BB Trustses C Short J Bailey R J Milton J C Phelps L C Branfield H Fraser P Arkle (Appointed 18 June 20241 Se¢retary L M Stride Accountant Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Page 1 Foundation For Common Land Trustees, Report for the Year Ended 30 June 2024 The financial statements have been p￿pa￿d in accordance with the accounting poli¢ies set out in the notes to the accounts and comply with the charity's governing document. the Charitie5 Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland. OBJECTIVES AND ACTIVITIES The aim of our work is to safrguard and enhance the heritage of common land and keep commons alive by supporting active grazing. Our aims fully refiect the purposes the charity was sel up for. The Foundalion for Cornrnon Land's (FCLI charitable objectives 85 set out in its Articles of Association 8re'. To conserve the agricultural systems and the cultural landscapes associated with commoning and the management of common land forthe benefitotthe public. To promote Ihe conservation of the physical and natural 8nvironmenl of common land by supporting the responsible and sustainable pastoral use of commons. To Conduct and commission r8search into commoning and common land issues and publish the results of such research to the public at large. To educale Ihe publi¢, particularly policy makers and other intsrested parties in subjects pertaining to commoning. The common land of Eng18nd and Wales and the common grazings of Scotland 8re ngtionally important for access. tourism, wildlife, carbon storage. water suppty, archaeological conservation, food production and livestock breeding. Commons deliver more publi¢ bonefits than any other type of farm18nd but this heritage is at risk from a continuèd declin8 in its acbve management and the challenges in accessing financial support for delivering public goods. Strategies and activities for achievlng obJectlvo8 We deliver our core work in the following ways.. Influence and advocacy through bilaleral engagemenl and membership of technical advisory groups and alliances Convene and chair strategic partnerships Contract out work lo the best consumants in our field Design and deliver training to d￿pen the knowledge of policy makers and praclitioners who can influence future commoning Develop partnership projects to secure the culiural heritage of commoning Provide up-to4ate and in-depth infomation on common land and commoning on our website Choose trustees with strong links to commoners and commoning On the ground d81iv6ry to devèlop. demonstrate and disseminate best practice Due to devolution of agricultural and 8nvironm8ntal policies to the devolved nations, and FCL being a small charity, our current activities are restricted to England though we sèek lo relain active links with netsvoths in Scotland and Wales and our conslilulion allows us to work across Great Britain. Page 2 Foundation For Common Land Trustees, Report for the Year Ended 30 June 2024 2024-2025 will be a year of making the most of the last year of the Lottery funded 'Our Upland Commons. ensuring we can capture and share the learning and embed the ability for cornmunicating it within our core team and functions. . Growth in the charity and its worf< over the past five years during Our Upland Commons. . The Charity will continue to strengthen staffing and governance stiuctures to support the growing body of wotk which FCL is now delivering. . Working with a fijndraiser FCL will appty for a Heritsge Lottery grant focused on resilien￿ building within the organisation. To continue to offer a commercial service to moorland owners enabling the application of SFI Moorland stsndard and generating income to support the ongoing work of FCL. . Develop the Fa￿er Led Habitat Assessment moorland app beyond the pilot phase to Beta testing at scale. To prepare training materials for a course on Collaborative Practi¢e8 for Uplands Environmental Land Management as commissioned by the Universty of Cumbria. . To continue to work with and hold the Rural Payments Agency, Natural England and Defra to account over their delivery of schemes on common land in England wth particular emphasis on expiring Higher Level Stewardship schemes and the new ELM schemes. To continue our core work of advocacy. outreach and communicats.ons with the aim to reach wider audiences including refreshing and improving our website and holding free of Gharge webinars How our a¢tlvltles deliver publi¢ beneflt In the 1600s ov6r 50Vo of England was common land. It is now less than 3 /0 so commons are a resourrA under threat. Common land delivers more public benefits than any oth8r type of farmland and is more hèavily designal8d than enclosed land., for instance Common Land is seven times more likely to be designated for nature as a SSSI than enclosed land. Commons are closely linked wrth a history of traditional and sympathetic pastoral systems developed over many centuries, adapted to local circumstances and informed by the expériènce of local famiing ¢ommunitiès. However, as a result of inappropriate government policies and schemes from the mid 1970s onwards biodiversity has declined and alongside this the cultural heritage of commoning is at risk. Farming communities and conservation organisations alike are concemed about the loss of skills and heritage. The impacts of climate change are also becoming apparent though the potential for commons to mitigate the impacts of climats changè and be a re￿ge for some Species is high. It is now over eight years since thè decision to leave thé EU and therefore the Common Agricultural Policy. Sadty, the par£ of change from BPS to ELM has been glacial 8nd unpredictable leading to significant risks that the environmental benefits from commons are at risk as are the commoning communities that manage this12nd. Therefore. while we fully support the policy of public money for public goods we are increasingly concemed that implementation by the Government falls far short of what is required. Responsible commoning is not financially viable in most areas of the UK without government support as there is no reward for public goods from the market. Private markets for public goods are poorly developed. If these traditional systems and techniques, local infrastructure and expertise is lost. they will be difficult and expensive to re*tablish. Loss of pastor81 gr￿Ing woukl lead to the loss of many significant habrtats and species and damage archaeological sites as well as affecting access and recreation and an erosion of cultural heritage. We also support Ihe appropriate planling of trees and natural regeneralion of scrub on common land especially through maintaining, enhancing and creating new wood pasture which has been an ancient land use on common land with the New Forest being a shining example. There are safeguards though the Commons Act 2006 to ensu￿ this is planned with fijll consultation as work5 on common require the Defra Secretary of State's consent. Through our work we take action to address these concerns to enable our cultural and natural heritage on commons to thrive as well as the unique collaborative system of management. We work with commoners. owners of common land, environmental NGOS. famiing bodies and government agencies to be the national voice for common land and commoning. Our ambition is to ernpower individuals and organisations through their work to improve outcomes for the public benefits from common land. Pag8 3 Foundation For Common Land Trustees, Report for the Year Ended 30 June 2024 hl 202312024 was a year of consolidation. Julia Aglionby stspped back as Executive Director in September 2024 for 15 months, but continued to provide project management support for th8 Our Upland Commons Lottery project work as well as oversight of the SFI Digital App. Her roles were shared betNeen Trustees and Jo Swiers. Robin Milton has tak8n th8 lead on policy. meeting regularty with Defra and other officials, supported by Chris Short and Jim Bailey. Jo Swiers led on project devèlopment. particularly focusing on resilience and the legacy of Our Upland Commons alongside Sam Caraway the OUC Project Manager. Lyndsey Stride has provided the Company Secretarial role and Susie Hodgson continues to undertake our Administrator Role, supporting both the ￿re charity work and the Tests and Trials. Trustees remain actiV81y engaged and we now have an established stsff and trustse buddy system. During this year we recruited Rhiannon Jones to support training and knowledge exchange t￿¥0 days a week and Owen Morgan to support Tom Lawrence run the SFI Moorland App Service. The FCL'S main 8Ctivities and a¢hievement$ for the year July 2023-June 2024 hav8 boen.. Projècts 'Our Upland Commons,, continuing this major £3.1 million Natural Lottery Heritage Fund project maintsining a good working relationship with our 25 project partners. The a¢¢ountable body is the Nats'onal Trusl. Highlights during 2023J2024 include,, Collaboratively planned and contracted Natural Flood Management IntaNentions for Brant Common. York$hire Dales with leaky dams, footpath diversions and welland crèation and restorats'on. In Dartmoor a detailed management plan wa$ agreed for Harford and Ugborough Common. Molinia Trials Unde￿aY and extended in Dartmoor . Animal health and dung beetle research looks to redu￿ vet and med interventions to enhance soil flauna. Labour of Lové Exhibition held at Hawes - over 7.500 visitors to see the Words and Pictures by Harriet and Rob Fraser Clee Libety Common signed up to a Countryside Stewardship Scheme after years of negotiation$ and &xtensive suNeys for birds and buttefflies. New equipment now allowng active management for nature outcomes. Ongoing conslruclive discussions over intsrpretation panels in the Longmynd, Shropshire Over 40 commoners and advisors awarded bursary places for Uplands Environmental Land Managem8nt Level 4 accredited courses wn by the University of Cumbria Grassington Lead Mine Trail completed in the yorkshi￿ dales • Farmer Led Habitat Ass8ssm8nt undertaken by commoners on over 3,000 ha of moorland Undertook further suNeys and research lo better understand the species & habitats on upland commons and thèir managemènt requirements including bl￿e￿leS, birds and habitats on over 12,000 ha. . We supported sustainable commoning by providing equipment including remote controlled bracken cutter, restoring historic sheep pens, and researching flocklherd health providing actionable insights for commoners to improving flock and herd health. Page 4 Foundation For Common Land Trustees. Report for the Year Ended 30 June 2024 • Defra Test and Trial SFI Comme￿[al Servico: After completing the SFI Moorland Test & Trial we rolled out the SFI Digiial App to a universal national service employing part lime employees. The service enables managers of moorland both common and non-common moorland to survey their land on a phone app and assess the environméntal beneffts on the ¢ommon and opportunitie$ to eThhan￿ these public benéfits. The information is then provided to thè managers in a series of spatial maps and in a spreadsheet. Over 62,000 ha of moorland used the SFI Moorland seNice in our financial year 202312024 We undertook three field training sessions in how to use the App and how to fvlfil SFI common land eligibility requirements. We are developing the Fanner Led Habitat Assessment Tool as a top up to th8 SFI following trialling during Our Upland Commons. Outreach and Engagement . Thé level of outreaGh is made possible by the funding of comms support by the Our Upland Commons. We are now seeking to ensure these communication skills are being integrated into OUC'S core stsff a¢tivitiés. Through OUC we have éngaged over 10.000 people in events educating, celebrating, and experiendng the natural and cultural heritage of common land, many targeted at hard-towreach audiences. Our dalabase of interested individuals stands at 1331 and Mailchimp provides us with infomation about level of engagementwhilst maintsining ¢ompliancewith GDPR. . A Quarterly newsletter has been written and distributed to all our contacts Provided ongoing guidance to commoners. groups, ¢ommoners, owners of common land and stak8holdets via our website, attendance at th8ir meetings and ne￿0￿ Net movements in ftjnds 32.557 126.803> 5,754 47,926 Rocon¢lliation of funds Total funds brought lo￿ard T¢)tsl fvnds carried lo￿ard 95,496 128,053 26,803 122,299 128.053 74,373 122,299 All of the Charity's activities derive from continuing operations during the above peTiods. The notes on pages 13 to 22 fomi an integral part of these financial statsments. Page11 Foundation For Common Land Company reglstratlon number: 08113120 Balance Sheet as at 30 Jun• 2024 2024 2023 Note Flxed assets Tangible assets 720 Current assets Debtors Cash at bank and in hand 10 9,384 131,863 141,247 20,844 117.632 138,476 Creditors: Amounts falling due wlthin one year {13.914) 116.1771 Net Current assets 127,333 122.299 Net assets 128,053 122.299 The funds of tho ¢harlty: R•strf¢ted funds 26,803 Unrestrfcted funds Unrestricted income funds 128,053 95,496 Totsl charity funds For the financial year ended 30 June 2024. the charity was entitled to exemption from audit under section 477 of the Companies Act 2006. 128.053 122,299 The members have not required the charity to obtain an audit of its accounts for the year in question in accordan￿ with section 476 of the Ad. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of acGounts. These accounts have been pr8pared in accordance with the provisions applicable to companies subject to the small companies regim8. Approved by the Board on 25 February 2025 and signed on its behalf by: C Short Trustee The notes on pages 13 to 22 form an integral part of these financial ststem8nts. Page 12 Foundatlon For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 Accounting pollcles Summary of significant accounting poli¢ies and key a¢¢ountlng osllmatss The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to 811 the years presented, unless otherwise statsd. Slatemenl of compliance The financial statements have been prepared in accordan￿ Accounting and Reporting by Chatities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies AGt 2006. Bagls of preparation The charitable cnmpany meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant 8¢counting policy notss. Golng ¢onc•m These financial statements have been prepared on a going concem basis. The Irustees assess whether the use of going concèm is appropriate i.e. whether there are any material Un￿rtaInlieS related to events or conditions that may cast significant doubt on the abilty of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of on8 year from the date of approval of the financial statéments. Fund accounting policy Unrestrided income funds are gen6ral funds that are av8ilablè for use at the Iw$tse$' discretion in furtherance ofthe objectives of the ¢harity. Restiicted income funds are those donated for use in a particular area or for sp8cific Purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed in note 15. Income and endowments Donations are recognised when the Charity has been notified in writing of both the amount and settlement dats. In the evenl that a donation is subject to conditions that require a level of perfonnance by the Charity before the Charity is entitled to the funds. the income is deferred and not ￿COgnised until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fijlfilled in the reporting period. Legacy gifts are reccgnised on a case by cas8 basis following the grant of probate when the administorlexecutor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange. recognits-on is subject to the value of the gift being reliably measured with a d8gr8e of reasonable accuracy and the title to the asset having been transferred to the Chaiity- Income from Government and other grants, whether 'capital' grants or 'revenue' grants, is re¢ognised when the ¢harity has entitlement to the funds, any performan￿ conditions attached to the grants have been m81 it is probable that the income will be rerkived and the amount can be measured reliably and is not deferred. Page13 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 . continued Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation Committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and ServI￿S for its beneficiaries. It includes both costs that can be allocated directly to such activities and those Costs of an indirect nature necessary to support them. Support costs Support costs include ￿ntral functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating propety Costs by floor areas. or per capita, staff ￿sIS by the time spent and other costs by their usage. Irr•¢overable VAT Irrecoverable VAT is charged against the category of resources expended for which it Was incurred. Taxallon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable Company for UK corporation tex purposes. Accordingly, the Charity is potentially 8X8mpl from taxation in respect of income or capital 9ains re￿iVed within catégories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the 8Xt8nl that such income or gains are applied exdusively lo charitable purposes. Flxed assots Individual fixed asset5 Costing - or more are inilially recorded at cost. Depreciatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows-. 3 years Straight line basis Fixtures. fittings and office equipment Trade Debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently MeasU￿d at amortised cost Using the effective interest method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective eviden¢e that the Charity will not be able to collect all amounts due a¢¢ording lo the original tem)s of the receivables. Cash and Cash Equlvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid investments that are readily convertib18 to a known amount of cash and are subject to an insignificant risk of change in value. Page 14 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 . continugd Liabilities Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least Iwelve months after the reporting date. If there is an unconditional right to defer settlemeT)t for at least Iwelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Operating leases Leases in which substantially all the risks and reward5 of ownership are retained by the lessor a￿ classified as operating leases. Rentals payable under operating leases are charged in the Slalemenl of Financial Activities on 8 straight line basis over the leas8 term. Pensions The charity operates a defined ¢ontribLrtion pension stheme. Contributions are charged in the statement of financial activities as they becom8 payable in accordance with the rules of the scheme. Finan¢lal In8trurnents Financial assets and financial liabilities are recognised when the charity be¢omes a paty to the contractual provisions of the instrument. Financial liabilities and equity Instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual irrterest in the assets of the Charity after deducting all of its liabilities. All financial assets and liabilities are initialty measured at transaction price {including transaction costs}. except for those financial assets classified as at fair value through profit or loss. which are initially measured at fair value (which is normally the transaction price excluding transaction costs). unless the arrangement constitutes a financing transaction. If an ariangement constitutes a financing transaction, the financial asset OT financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a nel basis, or to ￿alise the assel and settle the liabilsty simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, bl the Charity transfers to another party 5ubslanlially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all. significant risks and rewards of ownership, has transferred control of the asset to another party- Financial liabilities are derecognised only when the obligation specified in the contract is discharged. cancelled or expires. Pago 15 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 . continued Donatlons and legacies Unrostrl¢ted Restrlct•d Total Funds Total Funds Funds Funds 2024 2023 Donations and lega¢le$ Appeals and donations 40 Grants Esmee Fairbairn Garfield Weston Historic England 115,250 50,000 115,250 50,000 13,300 50.000 165,250 165.250 71,300 185.250 165,25Q 71,340 Of the donations and legacies income in 2023. all income related to unrestricted funds. Charltable A¢tivities Unrostrl¢ted Restricted Totsl Fund8 Total Funds Funds Funds 2024 2023 Provision of project management for Our Uplands Common Defra T&T Defra Lowlands T&T SFI Road Test SFI Commercial Hill Farm Training Exeter Funding Other 49.654 23.011 49,654 23,860 97,384 124,973 42,360 3,573 37,413 11.133 1,800 42,360 28,429 37,413 11,133 1.800 24,856 360 269,588 145,933 24,856 170.789 Of the other trading a￿1VIte9 income in 2023, £195,020 related to unrestricted funds and £74,568 related to restricted fvnds. Pag8 16 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 continued Expènditvre Charltabl8 activity Totsl 2024 Total 2023 Direct Costs Provision of Charitable Activities Our Uplands Commons Defra T&T Hill Farm Training Lowlands T&T SFI Road Test SFI Commercial Wages and salariès Staff pensions 12,046 154,078 12,046 154,078 4.046 97,600 271 10.842 17,989 64,271 10,921 40.995 825 311,967 10,842 17,989 64,271 10,921 40,995 825 311,967 27,473 102,112 53,234 1.094 285,830 Support Costs Rent Insuran< Sundry expenses Accountsncy fees Independent examiner's fee Consufiancy fees Bank charges Depreciation ofoffice equipment 1.011 522 11,322 1,053 500 3,850 47 13 18,318 1,011 522 11,322 1,053 500 3,850 47 13 18,318 1,011 494 4,291 838 500 38 7,172 330,285 330.285 293,002 Of the expenditure in 2023, £236,357 related to unrestricted funds and £56,645 related to restricted funds. Governance costs 2024 2023 Accountancy feas Independent examinees fee 1,053 soo 1.553 838 500 1.338 Trustees. romun8ratlon and oxponsos Expense8 lotalling £49712023- £nil) in relation to travel were claimed by 3 trustees. Trustee R Milton r8c8ived £1,750 (2023- £nil) in relation to consultancy & 8dvocacy Y￿rk. Page 17 Foundatlon For Common Land Notes to the Flnancial Statements for the Year Ended 30 June 2024 . Continued Net incorne Net income is stated after charging.. 2024 2023 Depreciation of langible fixed assets 13 Employee8, remuneration The monthly average number of persons (including senior management) employed by the charity during the year was as follows.. 2024 No. 2023 No. Charitable activities The aggregate payroll costs of these persons were as follows.. 2024 2023 Wages and salaries Other pension costs 40,995 825 41,820 53,234 1,094 54,328 No émployee receivecl emoluments of more than £60,000 during th8 year (2023- No. 01. Page 18 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 . continuad Tangiblo fixed assets Fixtures, fittings and office equipment Cost As at 1 July 2023 Additions As at 30 June 2024 634 733 1.367 Depre¢latlon As at 1 July 2023 Charge for the year As at 30 June 2024 634 13 647 Net book value As at 30 June 2024 As at 30 June 2023 720 10 Debtorn 2024 2023 Trade debtors 9,384 20,844 11 Creditors: Amounts falling du• wlthln onè year 2024 2023 Trade ¢reditors Taxation and social security Other creditors AGGruals and deferred income 100 4,403 121 9,290 13,914 1,915 6,990 169 7,103 16,177 12 Momber8' liablllty The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liabl8 to contribute an amount nol exceeding £1 towards the assets of the tharity in the event of liquidation. Page 19 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 . continued 13 Pension s¢heme Definod contributlon penslon s¢heme The charily operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £82512023- £1.0941. Contributions totalling £121 12023 £169) were payable to the scheme at the end of thè pèriod and are included in creditors. 14 Related partles Controlllng entlty The charity is conlrolled by the trustees who are all directors of the company. 15 Anaty3is of funds At1Juty 2023 Incoming resourcos Resources oxpended At30June 2024 Transfers Gon•ral Funds Unr8stricted income fund 95,496 145,933 (114,103} 727 128,053 Restricted Funds Restricted income fund DEFRA 1,947 24,856 26,803 165,250 24.856 190,106 (166,4701 (49.7121 {216,1821 {727) 17271 122,299 336.039 (330,2851 128,053 Restricted fvnds- these are fund5 held relating to previous projects. DEFRA - Funds held for direct payment to commons associations from DEFRA as part of the agreement in our T&T. Page 20 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 June 2024 - continued Prlor perlod At 1 July 2022 Incorning rosour¢os Resources expondèd Tran8fer8 At 30 June 2023 General Funds Unrestricted income fvnd 55,797 266.360 {236.357) 9.696 95,496 Rvtrl¢ted Funds Restrided income fund Esmee Fairbairn Our Uplands Common Exeter University DEFRA 1,947 3,333 9,696 3,600 1,947 (3.333) 19,696) {3,SOO} (49,7121 156,6451 (293,0021 74,568 74,568 340,928 24,856 26,803 122,299 18.576 74,373 <9,6961 16 Trangfers The transfers totalling £727 from restricted to unrestricted funds represènts funds on which the restriction is no longer in pla￿. Page21 Foundation For Common Land Notes to the Financial Statements for the Year Ended 30 Jung 2024 . continued 17 Net assets by fund Unrestricted Funds Ro$trl¢ted Funds Total Funds 2024 Total Funds 2023 Tangible assets Current assets Creditors.. Amounts falling due within one year Nel assets 720 141.247 720 141,247 138,476 113,9141 128.053 113,914) 128,053 116,177) 122.299 Prlor period Unrestrictsd Funds Restricted Funds Totsl Funds 2023 Total Funds 2022 Tangible assets Current assels Creditors.. Amounts falling due within one year Net assets 111.673 {16,177) 95.496 26,803 138.476 (16,1771 122,299 78,831 (4,458} 74,373 26,803 Page 22