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← Pembrey Conservation Trust

2024-03-31-accounts

PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

PEMBREY CONSERVATION TRUST

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR

1 APRIL 2023 TO 31 MARCH 2024

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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 2023 to 31 March 2024.

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 twelfth report and accounts of the Pembrey Conservation Trust (PCT). It is the eleventh 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:

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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 and insurance 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 858 man days of habitat and access maintenance work (2023:832).

Over the course of the period we had 18 regular volunteers (2023:17) 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 Co-op Local Community Fund granted the Trust £1,177 to deliver a small programme of work for Penybedd Woods to increase the area of flowering and fruiting species within the wood which includes engagement with local schools. The programme was ongoing at the year end. The trust has introduced a monthly on-line diary publication which informs the community about its activities. It is available on the trust’s own web site and on the Pembrey and Kidwelly Community Facebook pages.

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 decreased from £14,879 in 2023 to £13,085 and unrestricted reserves have increased from £4,424 to £5,217. 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 2024.

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2024

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
£
200
6,712
6,912
4,996
-
-
11,908
4,683
4,683
7,225
5,432
1,000
11,115
793
4,424
5,217		 Restricted
funds
£
-
1,177
1,177
-
-
-
1,177
-
-
1,177
1,726
-
1,726
(549)
1,090
541		 Year
ended 31
March
2024
Total
£
200
7,889
8,089
4,996
-
-
13,085
4,683
4,683
8,402
7,158
1,000
12,841
244
5,514
5,758		 Year
to 31
March
2023
Total
£
-
9,702
9,702
5,177
-
-
14,879
4,913
4,913
9,966
7,500
800
13,213
1,666
3,848
5,514

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

Balance Sheet as at 31 March 2024
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
£
15,669
200
2,653
2,853
3,032
(179)
15,490
10,273
5,217
5,217
-
5,217		 Restricted
funds
£
-
-
541
541
-
541
541
-
541
-
541
541		 2024
Total
£
15,669
200
3,194
3,394
3,032
362
16,031
10,273
5,758
5,217
541
5,758		 2023
Total
£
17,827
-
3,664
3,664
3,472
192
18,019
12,505
5,514
4,424
1,090
5,514

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

Date 31 MAY 2024

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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.

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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
Co-op Local Community Fund
National Lottery
Sales
Horse riding permits
Horse riding events
Other sales		 2024
£
-
200
-
200
2024
£
5,000
1,712
6,712
£
1,177
-
1,177
2024
£
4,100
696
200
4,996		 2023
£
-
-
-
-
2023
£
5,000
1,712
6,712
£
-
2,990
2,990
2023
£
4,630
547
-




5,177

3. Grants

4. Sales

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

5. Costs of activities to generate funds

Horse riding
Other sales		 2024
£
4,683
-
4,683		 2023
£
4,913
-
4,913

6. Tangible fixed assets

Equipment
Costs
£
At 01 April 2023
28,165
Additions
-
Disposals
-
At 31 March 2024
28,165
Depreciation
At 01 April 2023
10,338
Charge for the period
2,158
Disposals
-
At 31 March 2024
12,496
Net book value
At 01 April 2023
17,827
At 31 March 2024
15,669
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
1,200
-
-
1,200
-
-
2024
£
-
11,985
2,156
1,528
15,669		 Total
£
29,365
-
-
29,365
11,538
2,158
-
13,696
17,827
15,669
2023
£
-
13,697
2,464
1,666
17,827

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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)		 2024
£
800
-
520
1,712
3,032		 2023
£
800
-
960
1,712
3,472

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 2023
Amount released to income
Amount due within one year
Amount deferred in the year
Balance at 31 March 2024
Creditors: amounts falling due within one year
Balance at 1 April 2023
Amount released to income
Amount deferred in the year
Amount transferred from creditors due after more than one year
Balance at 31 March 2024
Deferred income		 2024
£
-
10,273
10,273
2024
£
11,985
-
(1,712)
-
10,273
1,712
(1,712)
-
1,712
1,712
11,985		 2023
£
520
11,895
12,505
2023
£
13,697
-
(1,712)
-
11,985
1,712
(1,712)
-
1,712
1,712
13,697

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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		 2024
£
520
-
-
520		 2023
£
960
520
-
1,480

11. 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:
National Lottery
Co-op Local Community
Fund
Total restricted funds
Total funds		 1 April 2023
£
4,424
4,424
1,090
-
1,090
5,514		 Incoming
£
11,908
11,908
-
1,177
1,177
13,085		 Outgoing
£
11,115
11,115
1,090
636
1,726
12,841		 31 March
2024
£
5,217
5,217
-
541
541
5,758

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

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PEMBREY CONSERVATION TRUST TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

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 2024 was nil (2023:
nil ).
Average number of full time equivalent staff in the year analyzed
by principal area of employment
Charitable activities
13. 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		 2024
£
-
-
-
-
2024
No
0.0
2024
£
200
800
960		 2023
£
-
-
-
-
2023
No
0.0
2023
£
-
800
960

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