OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

PEMBREY CONSERVATION TRUST

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR

1 APRIL 2020 TO 31 MARCH 2021

Page 1 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

CONTENTS PAGES
Trustees’ report 3
Financial statements 6
Notes to the financial statements 8

Page 2 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

The trustees are pleased to present their annual report together with the financial statements of the charity for the 12 month period from 1 April 2020 to 31 March 2021.

The financial statements comply with the Charities Act 2011 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) (effective1 January 2015).

Reference and administrative information

Pembrey Conservation Trust was founded on 21 July 2012 and this is the ninth report and accounts of the Pembrey Conservation Trust (PCT). It is the eighth report and accounts since incorporation as a Charitable Incorporated Organisation on 1 December 2013. PCT does not operate under any other names.

Registered office and principal place of business FC Foresters Hut Penybedd Woods Pembrey Burry Port SA16 0HU

Bankers

Trustees

The Co-operative Bank Plc PO Box 250 Skelmersdale WN8 6WT Mr. D A Howells Mr. R W Naylor Mr. T O’Keefe Ms. C Taylor Mr. N M Thomas

Registration

Charity Registered in England and Wales number 1154814

Structure, Governance and Management

Legal structure

PCT is a Charitable Incorporated Organisation and its governing document is based upon the Charity Commission’s “Foundation” model constitution.

The governing body is the Board of Trustees which meets on a regular basis.

New trustees are nominated by the Board and elected for a three year term of office at a properly convened meeting of the trustees. Each new trustee, on or before his or her first appointment, receives a copy of the current version of the constitution and a copy of the latest Trustees’ Annual Report and Accounts.

Objectives and Activities

The objectives of the charity, as contained within the constitution, are:

Page 3 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

PCT has a range of means of achieving these objectives, combining them to best effect.

PCT’s activities take place within part of the Welsh Government’s Woodland Estate (WGWE) situated at Pembrey and Penybedd under an agreement granted by NRW. PCT leases the FC Forester’s Hut at Penybedd from the Welsh Government. No rent is payable under the lease. PCT‘s obligations under the lease are maintenance of the premises and performance of an agreed schedule of work.

Achievements and Performance

In this twelve month period PCT has completed 468 man days of habitat and access maintenance work (2020:497).

Over the course of the period we had 13 regular volunteers (2020:19) delivering practical conservation work on a weekly basis. The Trust continues to operate on three days per week alongside ad hoc attendance to support reactive maintenance and monitoring needs.

The advent of Covid 19 has required a significant change in work practice to maintain the health and well-being of all our volunteers. This has resulted in some aspects of our work being suspended and others reviewed to follow government workplace guidance.

Our habitat work is guided by NRW and Butterfly Conservation to support the maintenance of the thirty two species of butterfly found within the woods.

This period’s works and achievements include:

All of our work depends upon the extensive assistance of volunteers. The trustees are unremunerated except for the reimbursement of expenses necessarily incurred in conducting the business of the trust. The bulk of our volunteers’ efforts are directed to delivering practical conservation work here at the Pembrey Peninsula within a formal partnership with NRW. Other volunteers support our office and administrative activities. All our volunteers work is valued and appreciated by the trust and the local community.

Financial Review

These financial statements are unaudited. The trust is not required to present audited financial statements. If the Trust’s gross income is in excess of £25,000 it is a requirement that the accounts are subject to an independent examination. In this seven month period and in the preceding year the Trust’s gross income fell below that level and therefore, the Trustees have decided not to request an independent examination.

At a meeting of the Trustees in January of 2020, it was agreed that ability of PCT to continue to sustain its current level of activity depended upon securing additional revenue and if that revenue were not achievable then operations would be terminated in July 2020. Subsequent discussions with our main partner organisation, NRW, identified opportunities to expand the scope of our activities and achieve mutually beneficial outcomes in keeping with our charitable objectives and in the process secure the additional revenue to continue operations. These new agreements with NRW apply from 1 April, 2020 and are continuing.

Equipment maintenance costs bore heavily on resources during this year. This was directly attributable to the age and condition of the equipment. In March of 2021 PCT was successful in obtaining a capital equipment grant from NRW which enabled the purchase of £17,225 of new equipment. This was brought into use in April 2021 and the trust is anticipating substantial reductions in maintenance and operating costs.

Page 4 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

In order to align our reporting period to that of our underlying activity cycle it was agreed that the financial reporting year end be changed to 31 March. This report is the second report to the new year end and covers the twelve month period from 1 April, 2020 to 31 March, 2021.

The trustees consider that the financial position at the balance sheet date is satisfactory. Total income in the period under review has increased from £2,107 in 2020 to £9,101 and unrestricted reserves have decreased from £2,617 to £2,604. The Trustees consider that it is necessary for the trust to accumulate unrestricted reserves to provide for the replacement of equipment and to secure the sustainability of its operations. The trust continues to closely monitor its financial position and to seek out new sources of income from activities which are in keeping with its objectives.

The trustees consider that the statements fairly reflect the activity of the trust and its financial position as at 31 March 2021.

Page 5 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2020

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2021

INCOME AND EXPENDITURE

INCOME AND EXPENDITURE
Note
INCOMING RESOURCES
Voluntary income
Donations
2
Grants
3
Total voluntary income
Activities to generate funds
Sales
4
Interest
Other incoming resources
Total incoming resources
RESOURCES EXPENDED
Cost of generating funds
Costs of activities to generate funds
5
Total cost of generating incoming
resources
Net resources available for charitable
purposes
Charitable revenue expenditure
Practical conservation and access work
Governance costs
Total resources expended
NET MOVEMENT IN FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
60
5,518
5,578
3,523
-
-
9,101
3,314
3,314
-
5,000
800
9,114
(13)
2,617
2,604		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Year
ended 31
March
2021
Total
£
60
5,518
5,578
3,523
-
-
9,101
3,314
3,314
-
5,000
800
9,114
(13)
2,617
2,604		 Seven
months
to 31
March
2020
Total
£
-
317
317
1,790
-
-
2,107
2,107
2,107
-
5,230
800
8,137
(6,030)
8,647
2,617

Page 6 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

Balance Sheet as at 31 March 2021
Note
Fixed assets
Tangible assets
6
Current assets
Debtors and prepayments
Cash at bank and in hand
Creditors: amounts falling due within
one year
7
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
8
Net assets
Represented by
Unrestricted funds
10
Restricted income funds
10
Total funds		 Unrestricted
funds
£
17,925
-
3,026
3,026
2,938
88
18,013
15,409
2,604
2,604
2,604		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
£
17,925
-
3,026
3,026
2,938
88
18,013
15,409
2,604
2,604
-
2,604		 2020
Total
£
1,493
-
2,742
2,742
1,618
1,124
2,617
-
2,617
2,617
-
2,617

Signed on behalf of the trustees R W NAYLOR N M THOMAS

Date 25 APRIL 2021

Page 7 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

NOTES

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

PCT meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required and have concluded that no restatement is necessary.

The financial statements have been prepared under the historical cost convention and in accordance with the recommendations set out in the Accounting and Reporting by Charities: Statement of Recommended Practice 2005 (SORP) applicable accounting standards and the Charities Act 2011.

c) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes.

Restricted funds are those which are to be used in accordance with specific restrictions of the donors or which have been raised by the Charity for particular purposes. The purpose for which restricted funds are held is analyzed in the notes to the accounts (see Note 10).

d) Incoming resources

Incoming resources are included in the SOFA when the PCT is legally entitled to the income and the amount can be quantified with reasonable accuracy. If these conditions are not met then the income is deferred. The following specific policies apply to categories of income:

Membership income is treated as a donation and is accounted for when received.

Legacies are accounted for based on settlement of the estate or receipt of payment, whichever is earlier.

Page 8 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

Grants received in advance of the associated work being carried out are deferred only when the donor has imposed preconditions on the expenditure of resources.

Gifts in kind and donated assets are valued at their realized amount, or the amount equivalent to an alternative commercial supply, and are included in the SOFA and balance sheet as appropriate.

e) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.

Costs of generating voluntary income are those incurred in seeking voluntary income and do not include the costs of disseminating information in support of the charitable activities.

Governance costs are the costs associated with the governance arrangements of the PCT which relate to the general running of the Trust .

f) Tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Plant, equipment and motor vehicles 10% to 25% on cost

g) Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognized at fair value which is the amount the charity would have been willing to pay for the items on the open market.

h) Debtors

Trade and other debtors are recognized at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

i) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j) Creditors and provisions

Creditors and provisions are recognized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any trade discounts due.

k) Financial instruments

Page 9 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortized cost using the effective interest method.

l) Transition to FRS 102

No restatement of items has been required in making the transition to FRS 102. The transition date was 1 September 2014.

2. Donations

The following donations were received during the period:

Donated assets
Donated services
Individuals
Grants
The following grants were received during the year:
NRW Maintenance Grant
Sales
Training
Horse riding permits
Habitat boxes and similar
Contracted access works		 2021
£
-
-
60
60
2021
£
5,000
5,000
2021
£
-
3,373
150
-
3,523		 2020
£
-
-
-
-
2020
£
-
-
2020
£
-
1,574
216
-





1,790

3. Grants

4. Sales

Page 10 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

5. Costs of activities to generate funds

Training
Other sales		 2021
£
-
3,314
3,314		 2020
£
-
2,107
2,107

6. Tangible fixed assets

Costs
At 01 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 01 April 2020
Charge for the period
Disposals
At 31 March 2021
Net book value
At 01 April 2020
At 31 March 2021		 Equipment
£
6,300
17,225
-
23,525
5,232
643
-
6,025
1,068
17,650		 Motor
vehicles
£
1,200
-
-
1,200
775
150
-
925
425
275		 Total
£
7,500
17,225
-
24,725
6,007
793
-
6,800
1,493
17,925

The equipment includes items donated to the Trust in August 2013 and valued at market value by the Trustees as at 31 August 2013.The net book value of this equipment as at 31 March,2021 was £NIL. Equipment purchased with the aid of grants had a net book value of £17,121 at 31 March, 2021.

7. Creditors: amounts falling due within one year

Trade creditors
Other creditors including taxation and social security
Deferred income		 2021
£
1,226
-
1,712
2,938		 2020
£
800
-
818
1,618

Page 11 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

8. Creditors: amounts falling due after more than one year

Deferred income
9. Deferred income
Movement during the year
Creditors: amounts falling due after more than one year
Balance at 1 April 2020
Amount released to income
Amount due within one year
Amount deferred in the year
Balance at 31 March 2021
Creditors: amounts falling due within one year
Balance at 1 April 2020
Amount released to income
Amount deferred in the year
Amount transferred from creditors due after more than one year
Balance at 31 March 2021
Deferred income		 2021
£
15,409
15,409
2021
£
-
-
(1,712)
17,121
15,409
818
(818)
-
1,712
1,712
17,121		 2020
£
-
-
2020
£
518
-
(518)
-
-
317
(317)
300
518
818
818

Page 12 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

10. Statement of funds

The purpose for which funds are held can be analyzed as follows:

Unrestricted funds:
General funds
Total unrestricted funds
Restricted funds:
Practical conservation
work:
NRW
Total restricted funds
Total funds		 1 April 2020
£
2,617
2,617
-
-
2,617		 Incoming
£
9,101
9,101
-
-
9,101		 Outgoing
£
9,114
9,114
-
-
9,114		 31 March
2021
£
2,604
2,604
-
-
2,604

The restricted funds held for practical conservation work are grants received in advance of the associated work being carried out.

11. Staff Costs

Gross wages, salaries and benefits in kind
Employer’s National Insurance costs
Pension costs
The average monthly head count of staff during 2021 was nil (2020:
nil ).
Average number of full time equivalent staff in the year analyzed
by principal area of employment
Charitable activities		 2021
£
-
-
-
-
2021
No
0.0		 2020
£
-
-
-
-
2020
No
0.0

Page 13 of 14

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2021

12. Transactions with related parties

Name of related party Relationship to the Description of the 2021 2020
charity transaction
£ £
Howells Accountancy A company Accountancy services - -
Services Ltd controlled by Mr. D A donated to the trust at
Howells a trustee market value
Payment made by the 800 800
trust for accountancy
services
Ms. H Thomas Related party to Mr. Payments made by the 1,098 1,098
N M Thomas a trust for equipment hire
trustee

Page 14 of 14