**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:
- To promote the conservation and protection of the environment by providing practical conservation opportunities for all segments of the community through volunteering activities which benefit wildlife and promote public access; and
- To advance the education of the volunteers in the principles and practices of conservation and associated management practices.
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.
- We support the management of 2,600 acres of coastal woodland managed by Natural Resources Body for Wales (NRW)
- We maintain a network of recreational sites and public access routes within the woodland area
- We provide training in woodland skills and equipment use to our volunteers
- We undertake small scale contractual and retail activity to support the Trust
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:
- Cutting and maintaining 32km of footpaths at Penybedd and Pembrey (2020:32Km)
- Cutting and maintaining 5 picnic areas at Penybedd and Pembrey
- Continuing the production and sale of products using recycled timber
- Supported the equine access programme
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