OpenCharities

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

2022-03-31-accounts

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

PEMBREY CONSERVATION TRUST

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR

1 APRIL 2021 TO 31 MARCH 2022

Page 1 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

CONTENTS PAGES
Trustees’ report 3
Financial statements 5
Notes to the financial statements 7

Page 2 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

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 2021 to 31 March 2022.

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 tenth report and accounts of the Pembrey Conservation Trust (PCT). It is the ninth 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 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

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. No rent is payable under the lease. PCT‘s obligations under the lease are maintenance of the FC Forester’s Hut at Penybedd and the performance of an agreed schedule of work.

Achievements and Performance

In this twelve month period PCT has completed 715 man days of habitat and access maintenance work (2021:468).

Over the course of the period we had 13 regular volunteers (2021:13) delivering practical conservation work on a weekly basis. The Trust operates on five days per week alongside ad hoc attendance to support reactive maintenance and monitoring needs.

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:

The National Lottery granted the Trust £4,790 to deliver a small Birds and Bees programme for Penybedd Woods to enable the establishment of a plant nursery and an engagement programme with schools and volunteers to increase the area of flowering and fruiting species within the wood. The programme has been successfully completed and is now integrated within the Trusts core annual activity.

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 year 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.

The trustees consider that the financial position at the balance sheet date is satisfactory. Total income in the period under review has increased from £9,101 in 2021 to £17,180 and unrestricted reserves have increased from £2,604 to £3,848. 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 2022.

Page 4 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2022

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
£
-
6,712
6,712
4,958
-
-
11,670
4,758
4,758
6,912
4,868
800
10,426
1,244
2,604
3,848		 Restricted
funds
£
-
5,510
5,510
-
-
-
5,510
-
-
5,510
5,510
-
5,510
-
-
-		 Year
ended 31
March
2022
Total
£
-
12,222
12,222
4,958
-
-
17,180
4,758
4,758
12,422
10,378
800
15,936
1,244
2,604
3,848		 Year
to 31
March
2021
Total
£
60
5,518
5,578
3,523
-
-
9,101
3,314
3,314
5,787
5,000
800
9,114
(13)
2,617
2,604

Page 5 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

Balance Sheet as at 31 March 2022
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
11
Restricted income funds
11
Total funds		 Unrestricted
funds
£
18,706
720
3,364
4,084
3,765
319
19,025
15,177
3,848
3,848
-
3,848		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
£
18,706
720
3,364
4,084
3,765
319
19,025
15,177
3,848
3,848
-
3,848		 2021
Total
£
17,925
-
3,026
3,026
2,938
88
18,013
15,409
2,604
2,604
-
2,604

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

Date 31 MAY 2022

Page 6 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

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.

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.

Page 7 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

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

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

Page 8 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

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:
Unrestricted funds
NRW Maintenance Grant
Deferred grants released to income
Restricted funds
National Lottery
NRW Training Grant
Sales
Training
Horse riding permits
Habitat boxes and similar
Contracted access works		 2022
£
-
-
-
-
2022
£
5,000
1,712
6,712
£
4,790
720
5,510
2022
£
-
4,798
160
-
4,958		 2021
£
-
-
60
60
2021
£
5,000
518
5,518
£
-
-
-
2021
£
-
3,373
150
-





3,523

3. Grants

4. Sales

Page 9 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

5. Costs of activities to generate funds

Training
Other sales
6. Tangible fixed assets		 2022
£
-
4,758
4,758		 2021
£
-
3,314
3,314
Equipment
Costs
£
At 01 April 2021
23,525
Additions
3,080
Disposals
-
At 31 March 2022
26,605
Depreciation
At 01 April 2021
5,875
Charge for the period
2,149
Disposals
-
At 31 March 2022
8,024
Net book value
At 01 April 2021
17,650
At 31 March 2022
18,581
The net book value of fixed assets is classified as follows:
Donated to the Trust
Purchased with the aid of grants (Note 9)
Finance leased assets (Note 10)
Other fixed assets		 Motor
vehicles
£
1,200
-
-
1,200
925
150
-
1,075
275
125
2022
£
125
15,409
2,772
400
18,706		 Total
£
24,725
3,080
-
27,805
6,800
2,299
-
9,099
17,925
18,706
2021
£
275
17,121
-
529
17,925

Page 10 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

7. Creditors: amounts falling due within one year

Trade creditors
Other creditors including taxation and social security
Obligations under finance leases (Note 10)
Deferred income (Note 9)		 2022
£
1,093
-
960
1,712
3,765		 2021
£
1,226
-
-
1,712
2,938

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

Obligations under finance leases (Note 10)
Deferred income (Note 9)
9. Deferred income
Movement during the year
Creditors: amounts falling due after more than one year
Balance at 1 April 2021
Amount released to income
Amount due within one year
Amount deferred in the year
Balance at 31 March 2022
Creditors: amounts falling due within one year
Balance at 1 April 2021
Amount released to income
Amount deferred in the year
Amount transferred from creditors due after more than one year
Balance at 31 March 2022
Deferred income		 2022
£
1,480
13,697
15,177
2022
£
15,409
-
(1,712)
-
13,697
1,712
(1,712)
-
1,712
1,712
15,409		 2021
£
-
15,409
15,409
2021
£
-
-
(1,712)
17,121
15,409
818
(818)
-
1,712
1,712
17,121

Page 11 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

10. Obligations under finance leases

At the year end the Trust had the following finance lease obligations:

Amounts falling due -
Within one year
Between two and five years
After more than five years
Statement of funds
The purpose for which funds
Unrestricted funds:
General funds
Total unrestricted funds
Restricted funds:
Practical conservation
work:
National Lottery
NRW training grant
Total restricted funds
Total funds		 are held can be analyzed as follows:
1 April 2021
Incoming
£
£
2,604
11,670
2,604
11,670
-
4,790
-
720
-
5,510
2,604
17,180		 2022
2021
£
£
960
-
1,480
-
-
-
2,440
-
Outgoing
31 March
2022
£
£
10,426
3,848
10,426
3,848
4,790
-
720
-
5,510
-
15,936
3,848		 2021
£
-
-
-
-

11. Statement of funds

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

Page 12 of 13

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022

12. Staff Costs

Gross wages, salaries and benefits in kind
Employer’s National Insurance costs
Pension costs
The average monthly head count of staff during 2022 was nil (2021:
nil ).
Average number of full time equivalent staff in the year analyzed
by principal area of employment
Charitable activities
Transactions with related parties
Name of related party
Relationship to the
charity
Description of the
transaction
Howells Accountancy
Services Ltd
A company
controlled by Mr. D A
Howells a trustee
Accountancy services
donated to the trust at
market value
Payment made by the
trust for accountancy
services
Mr. and Mrs. R Naylor
Mr. R Naylor is a
trustee
Payments made by the
trust under a finance
lease. The total value
of the lease is £3,080		 2022
£
-
-
-
-
2022
No
0.0
2022
£
-
800
640		 2021
£
-
-
-
-
2021
No
0.0
2021
£
-
800
-

13. Transactions with related parties

Page 13 of 13