The Gaia Trust (CIO)
Annual Report and Financial Statements
Year ended 28 February 2025
Charity registration number 1156047

The Gaia Trust (CIO)
Annual Report and Financial Statements
Contents
Trustees, Report
Statement of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
io
Statement of Cash flows
li
Notes to the Financial Statements
12

The Gaia Trust (CIO)
Trustees, Report
The Trustees present their report and the financial statements of the charity for the year ended 28
February 2025.
Objectives and activities
Mission
The Gaia Trust's mission is "Farmingfor people and wildlife".
The Gaia Trust was established in October 1988 to promote public engagement with the techniques
and philosophy of sustainable agriculture. Public benefit has therefore been at the heart of Gaia's
ethos from the outset. The Trust believes that farming practice should pass onto future generations
land that is both productive and in good heart, that is managed to enhance wildlife and to mitigate
environmental challenges, and that provides communities with an asset that can be enjoyed both
informally and therapeutically.
Charitable objects
The Trust's objects, set out in its constitution are to:
Protect and preserve indigenous flora and fauna and in particular endangered species
Advance the education of the public in rural crafts and skills and in subjects related to
environmental and ecological issues
Secure the preservation, protection, development and improvement of features of historic and
public interest.
Aims, objectives and activities
The Trust regularly reviews its aims and objectives to ensure that they are still helping to achieve its
mission and charitable objects. The Trust will:
Continue to own, acquire and dispose of land, exercising its rights as a landowner and
discharging its obligations as a steward of property that it holds in trust for public benefit
Manage its properties directly and indirectly through tenancies and partnerships to be
agriculturally productive, mindful of the Trust's intergenerational obligations as stewards of the
land
Manage its resources to ensure financial stability. generate income to support its charitable
activities and allocate the resources at its disposal to deliver our planned programmes
Manage its properties in an environmentally sustainable way, wherever possible to follow best
practice in soil management and to protect the biosphere
Reduce and ultimately eliminate the use of all pesticides. herbicides and chemical fertilizers on
our land, in partnership with ourfarmers and tenants
Engage the public with the work of the Trust through access, consultation, education, advocacy
and communication
Develop, deliver and participate in projects and partnerships that contribute to social as well as
environmental outcomes
Participate in partnerships that support the development of innovative techniques of
environmentally friendly and socially responsible farming.
The Trustees confirm that they have regard to the Charity Commission's guidance on public benefit
when planning the activities for the year.

The Gaia Trust (CIO)
Trustees, Report
Properties
The Trust seeks to achieve its charitable purpose on the land acquired over the years of the Trust's
life. The Trust owns the following properties which it uses for this purpose.
Treraven Farm - 68 hectares of farmland, woodland and saltmarsh alongside the Camel Estuary at
Wadebridge, North Cornwall. The first land was acquired by the Trust in 1999 from money raised
through the Heritage Lottery Fund, other trusts and individuals. With support from Defra's
Countryside Stewardship Scheme, our main aims at Treraven are to enhance biodiversity by
reverting land to permanent pasture. improving the condition of current pastures, restoring
saltwater meadows and woodland, creating a new community woodland and increasing public
access to the site. Treraven also hosts family activities designed to increase understanding of the
natural world and encourage children to spend more time outside in a safe environment.
Chark Moor- 15 hectares of wet grassland. heathland. mires and wet woodland acquired by the
Trust in 1994. Adjoining Redmoor and part of the mid-cornwall Moors SSSI, the site is managed to
restore the habitat of the marsh fritillary butterfly and is part of a Defra Countryside Stewardship
Scheme. Work is underway to extend the area of grassland and mire habitat to benefit the butterfly.
Home Farm Marsh- 75 hectares including Salt Pill duckpond, part of the Taw Torridge Estuary SSSI.
The first land was acquired by the Trust in 2002 with support from the Heritage Lottery Fund, trusts
and individuals. With the help of Defra's Countryside Stewardship Scheme, Gaia has worked to
reverse the effects of more intensive farming practices to enhance biodiversity with the creation of
intertidal habitats, wet grassland, scrapes and ponds, winter stubbles, arable margins and pasture.
Public access and engagement have also been delivered through path improvements, the creation of
bird hides and a volunteering programme.
Bodwannick Manor Fami- 67 hectares of woodland and unimproved grazing land managed
through a Mid-Tier Countryside Stewardship Scheme with low inputs and conservation focused
hedge management. The site also includes a run-down farmhouse with associated, dilapidated
outbuildings and garden. Options for the future use of this part of the site are under review.
Henwood - was acquired by the Trust by deed of gift in 1993. The site is made up of established
deciduous woodland on a steep slope to Penpoll Creek and includes an active heronry. It lies within
a County Wildlife Site ICWSI, namely Colvithick Wood & Penpoll Creek CWS (ref: R/CN4.2). The deed
of gift restricts public access.
Achievements and performance
Properties
During the year, at all properties. the Trust worked to ensure compliance with the terms of our
stewardship grant funding agreements with Natural England. The agreements are location specific
and the requirements vary significantly between properties. The Trust undertook the following key
activities in 2024125.
Treraven Farm
The work to plant more than 2,000 trees to replace those affected by ash dieback has been a major
focus for the year. Volunteer help has been crucial to taking this activity forward and the investment
in a wood chipper also improved the effectiveness. The Tamworth pigs continue to help create the
necessary clearings and completing the Tree Health Grant work is a major focus for the site. A

The Gaia Trust (CIO)
Trustees, Report
woodland management company was also contracted to thin and remove stands of trees planted
around the year 2000.
At the end of 2024 the site's Countryside Stewardship scheme ended: our farm tenants were unable
to submit a replacement Sustainable Farming Incentive application due to a surprise announcement
by the Government to halt applications until further notice. This has affected their and Gaia's
income prospects for the foreseeable future and delayed the environmental improvements that
would have been delivered through the scheme.
Wadebridge schools continue to use the site for education activities with their pupils and in
November 2024. Treraven hosted our first Foster Care visit. 25 children and their carers explored the
site and undertook wellbeing activities including planting sweet chestnuts in the mini tree nursery.
Feedback from Cornwall Social services was extremely positive and they plan to use Treraven more
in future. They say there are 500 children in Cornwall who would be eligible to attend.
Chark Moor
Grazing and scrub clearance in accordance with the site's Higher Level Stewardship Agreement
continues at Chark. In addition, a Species Sunlival Fund Grant has allowed work to repair and replace
the fence around the northern sector of the site to facilitate grazing. Ultimately, getting grazing to
that area will increase the amount of open habitat available on the site and hopefully encourage
marsh fritillary butterfly recolonisation from nearby Red Moor Nature Resenie. Dormouse box
monitoring continues.
Home Farm Marsh
We continue to work with our farm tenant to deliver the site's Mid-Tier Stewardship Agreement.
However, changes to the Defra agricultural/environmental farm support system - the withdrawal of
the Basic Payment Scheme- have required Gaia to provide some additional financial support to our
tenant. That notwithstanding, we continue to invest in arable field margins and fencing at the site.
Our dedicated volunteers continue to devote thousands of hours, time to Home Farm Marsh. They
carry out regular bird and insect monitoring that help us assess the impact of our site management
on wildlife, but have also carried out hedge laying, path, fencing and gate repairs, wild flower
planting and hosting group visits to the site from local communities and specialist wildlife
organisations including Bumble Bee Conservation.
Bodwannick Manor Farm
Due to the impact of inflation. the poor prospects of attrarting grant funding and the increasing
uncertainty surrounding the extent of the required works, the Trustees have decided not to proceed
with the restoration of the Bodwannick farmhouse. A decision has been made to seek planning
permission to convert a small on-site barn (the Bothy) into a 2-bedroom residence for a future
tenant farmer, and to sell the derelict farmhouse to help fund that conversion. We are hoping to
submit that planning application in the Autumn of 2025.
On the farmland, since April 2025, we have secured a new farmer for 750A of the land area, whilst
retaining our previous farmer, who is retiring, on the remainder. We planned for this transition
throughout 2024 and both farmers are still farming according to the existing Mid-Tier Stewardship
Agreement.
The three wildlife ponds dug on the farm in 2023 have hugely increased the population of dragon
and damsel flies.

The Gaia Trust (CIO)
Trustees, Report
Financial review
Income and expenditure
The net deficit for the year of £17,000 compares with a net deficit of £29,000 in 2023/24. Farm
subsidy income has been relatively stable and rental income is a little down on last year. Both are
facing downward pressures as the farm sector reacts to significant changes in government funding.
Following our change of investment funds last year. total investment income has reduced by some
£7,000, but values have improved and we are showing a unrealised profit for the year of £38,000
compared with a £50,000 loss last year.
There have been significant reductions in revenue costs mostly in connection with site maintenance,
partly because of reduced costs at Bodwannick where redevelopment plans were on hold, and partly
because of a generally quiet year for maintenance.
Investments and cash
At the year end. the trust carried investments of £ 951,336 {2024, £873,528) and cash balances of
£293,600 {2024, £365,573).
Reserves and designated funds
At 28 February 2025, the Trust's unrestricted funds (not already invested in land and other fixed
assets) amounted to some £1.12 million {2024, £1.Ilm).
The Trustees set aside £400,000 in 2016/17 to restore the Bodwannick Estate and a designated fund
for that amount was established. The sale of barns on the site in 2021/22 increased this fund by
some £251,000. During the year some £8.000 (2024. £22.0001 of this fund was used for professional
fees in connection with drainage issues. Due to the increasing uncertainty surrounding costs, late in
the financial year a decision was made by the Trustees to abandon this renovation project and sell
the derelict farmhouse and certain of the derelict outbuildings. The designated fund has therefore
been closed and a transfer of some £386.000 made to unrestricted funds.
In 2017/18, £750,000 was invested in order to generate income to support the Trust's ongoing
charitable activities, in particular the decision to employ our Trust Director on a full-time basis. Due
to the stock market performance over the period, this fund has increased by £28,000 (2024: reduced
by £40,000) to £666,000 at 28 February 2025 {2024, £639,000).
The Trustees believe that they need to retain approximately one yearfs operating expenditure
(currently between £80,000 and £95,000 depending on the level of maintenance required) in
general reserves, as there continues to be uncertainty around the level and nature of future
environmental subsidies and in the recruitment of future farming tenants. Following the decision to
transfer funds from the designated Bodwannick restoration fund, at present the Trustees consider
the amount held in reserves to be more than is needed and our recently completed strategic plan
will be used to determine how these funds are to be used to best achieve the Trust's aims.
Going concern
The Trustees have reviewed the Trusys financial position and considered financial projections. In
their opinion the Trust can be considered to be a going concern.

The Gaia Trust (CIO)
Trustees, Report
Strurture, governance and management
The Trust is controlled by its governing document, based on the Charity Commission's Foundation
Model for a Charitable Incorporated Organisation ICIOI.
Trustees are appointed with regard to their specialist knowledge in key areas such as agriculture,
conservation, accounting, law and property management, and additional support is given by key
volunteers and advisers.
Day-to-day running of the Trust is delegated by the Trustees to the Director, who provides Trustees
with operational reports on a quarterly basis for consideration at Trustees, meetings. The Director
works closely with the Trustees between meetings.
Throughout 2024 and into 2025, the Gaia Trust has embarked on a Strategy review and renewal
process with the aim of re-focusing the charity to reflect the many changes in the agricultural sector
and the evolved unique circumstances at each of the properties we own.
Reference and administrative details
Charity Registration Number
1156047
9, Park Place, Eggesford Road, Winkleigh, Devon, EX19 8JN
Trustees
C Evans
M Steer
L Phippen
J Richards (resigned 17 January 20251
C Hulbert-Powell
V Herbert (appointed 17January 2025)
Charles Evans- until retirement in 2017, Charles was a partner with PKF Francis Clark, the
accountants, where he headed up their work across the region in the Not for Profit sector. He brings
some 40 years of experience in the world of accounting and finance, working with many of the
largest commercial and Not for Profit organisations in the South West.
Mark Steer- Mark worked in health and social care, including clinical, executive director and
management responsibilities, recently practising as a Cognitive Behavioural Therapist. Since retiring
in 2016, Mark spends hi5 time on his smallholding, supporting his local village activities. He is a
member of the governing bodies of two Cornish charities that support homeless people and people
experiencing mental ill health. He is passionate about the environment. nature and conservation and
is interested in how the Gaia Trust properties can support health interventions in nature.
Laurence Phippen - Laurie has completed a Bsc in Conservation Biology and Ecology at the
University of Exeter. During this degree, he worked at Cabilla Cornwall on Bodmin Moor where he is
carrying out hands-on restoration work by planting native trees and wildflower meadows,
constructing an oak nursery, hosting nature walks, and helping with the reintroduction of beavers to
the river Bedalder.
Charles Hulbert-Powell- Charles has a lifelong interest in agriculture and has owned a small farm in
East Sussex rearing sheep and cattle. and now lives in Cornwall. He is a keen conservationist for
wildlife and proponent of Agroforestry. He has worked in agricultural insurance and has been a

The Gala Trust (CIO)
Trustees, Report
dlrector of a number of insurance and underwriting agencles. He has held executive and trustee
roles in a number of charlties that support children at risk of gangs, drugs and crime, knowledge
exchange between surgeons In the westem world and global south and a charitable trust In Cornwall
for people in disadvantaged circumstances.
Vlctorfa Herbert- Vlcky has been working In the farming industry since graduating from the
University of York in 2016. She has a wealth of experience in vegetable and livestock farming and
would consider herself an advocate for nature friendly farming. Vlcky works as an agricultural
advisor for Business Information Point and also runs her own farm business raising pigs In South
Devon.
The annual report was
pproved by the Trustees on 2 October 2025 and signed on its behalf by:
CD.Evans
C Evans
Trustee

The Gaia Trust (CIO)
Statement of Trustees. Responsibilities
The Trustees of The Gaia Trust (CIO) are responsible for preparing the Trustees, Report and the
financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities in England and Wales require the Trustees to prepare financial
statements for each financial year which give a true and fair view of the state of affairs of the charity
and of the incoming resources and application of resources of the charity for that period. In
preparing these financial statements, the Trustees are required to-
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed,
subject to any material departures disclosed and explained in the
financial statements,. and
prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show
and explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the
trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

The Gaia Trust (CIO)
Independent Examinerfs Report
I report to the trustees on my examination of the accounts of The Gaia Trust {CIOI (the Trust) for the
year ended 28 February 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111'the Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination I have followed all the applicable Directions given by
the Charity Commission under section 14515}{b} of the Act.
Independent examinerfs statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as required by section 130 of the
Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the accounts give a 'true and fairf view which is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding to be
reached.
Darren Perry BA (Hons) ACA DChA
Chartered Accountant
Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TRI 2NA
Date 22 October 2025

The Gaia Trust (CIO)
Statement of Financial Activities
Year ended 28 February 2025
Note Unrestricted Designated Restricted
funds
funds
funds
Total
2025
Total
2024
Income from:
Donations and legacies
508
508
29
Charitable activities -
continuing
50,214
2,592
52,806
63,935
Investments
44,681
3,068
47,749
53,787
Total income
95,403
5,660
101,063
117,751
Expenditure on:
Charitable activities
continuing
91,688
24,042
2,592
118,322
146,811
Total expenditure
91,688
24,042
2,592
118,322
146,811
Net income/{expenditure)
before unreal ised
investment gains/llosses)
3,715
{24,042)
3,068
(17,259) 129,0601
Net gainslllosses) on
investments
io
10,293
27,711
38,004
150,9021
Net income/lexpenditure)
14,008
3,669
3,068
20.745
179,9621
Transfers between funds
358.726
(357.879)
1847)
Net movement in funds
372,734
(354,210)
2,221
20,745
179,9621
Reconciliation of funds
Funds brought forward
78,120
3,905,517
128,664 4,112,301 4,192,263
Funds carried forward
450,854
3,551,307
130,885 4.133.046 4,112,301

The Gala Trust (CIO)
Balance Sheet
At 28 February 2025
Note
2025
2024
Flxed assets
Tanglble assets
2.885,024
2,873,055
Investments
io
951,336
873,528
3￿36,360
3.746,583
Current assets
Debtors
li
20.908
18,663
Cash at bank
293,6
365,573
314.508
384,236
Creditors: amounts falling due wlthin one year
12
17.822
18,518
Net current assets
296,686
365.718
Net assets
4.133,046
4,112,301
Funds of the charity
Restricted income funds
15
130.885
128,664
Unrestrlrted funds
Designated fixed assets fund
15
2,885,024
2,873.055
Other designated funds
15
666,283
1,032,462
Unrestricted general funds
15
450,854
78,120
Total unrestricted funds
4.1x12.161
3.983.637
Total charity funds
4,133,046
4,112,301
The financial statements on pages 9 to 21 were approved by the Trustees, and authorised for issue
on 2 October 2025 and signe
on their behalf bv:
C D Evans- Trustee
io

The Gaia Trust (CIO)
Statement of Cash Flows
Year ended 28 February 2025
Note
2025
2024
Cash flows from operating activities
Net Ideficitl/income before unrealised losses on
investments
(17,259)
{29,0601
Adjustments to cash flows from non-cash items
Depreciation
15,831
15,261
Investment income
(47.7491
{53,7871
Working capital adjustments
Ilncreasel/decrease in debtors
li
12.245)
15,962
IDecrease/{increase in creditors
12
(696)
13,348
Net cash outflows from operating activities
(52,118)
{38,2761
Cash flows from investing activities
Interest receivable and similar income
47,749
53,787
Net unrealised gains/llossesl on investments
38.004
{50,9021
Purchase of tangible fixed assets
(27.800)
{23,3991
Net cash inflows/loutflows) from investing activities
57,953
{20,5141
Net increase/(decrease) in cash and cash equivalents
5,835
{58,7901
Cash and cash equivalents at l March 2024
1.239.101
1,297,891
Cash and cash equivalents at 28 February 2025
17
1.244.936
1,239,101
All the cash flows are derived from continuing operations during both years.
li

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
l. Accounting policies
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
1021- (Charities SORP {FRS 102}I, the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) and the Companies Act 2006.
The Gaia Trust {CIO} 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 accounting policy notes.
Income
Income from donations, gifts, legacies and grants that provide core funding or are of a general
nature is recognised when the Trust has entitlement to the income. it is probable that the income
will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated
residual value, using the following rates:
Land and non-farming buildings- not depreciated
Land/infrastructure improvements- 2% straight line
Farm buildings- 2% straight line
Building improvements - IO% straight line
Fixtures, fittings and equipment - 20% straight line
The Trust does not depreciate land and non-farming buildings as the estimated residual value is not
less than cost and any depreciation charge for the year would be immaterial to the accounts.
Funds
Unrestricted general funds - unrestricted free resenies, available for use on activities satisfying the
Trust's charitable pu rpose.
Designated fixed asset fund - a fund equal to the net book value of fixed assets, representing
unrestricted funds which are not free resen4es as they are invested in the Trust's long term assets.
Other designated funds - funds earmarked by the Trustees for specific purposes.
Restricted funds - to be applied to the specific purpose intended by the donor or grant provider.
12

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
2. Income from donations and legacies
Unrestrirted
funds
Restricted
funds
Total
2025
Total
2024
From individuals
508
508
29
3. Income from charitable activities
Unrestrirted
funds
Restrirted
funds
Total
2025
Total
2024
Rental income
15.110
15,110
17,620
Grants and subsidies
35,104
2,592
37,696
45,815
Other income
500
50.214
2,592
52,806
63,935
In the year ended 29 February 2024, restricted fund income receivable from charitable activities
amounted to £13,351 the balance of £50,584 relating to unrestricted funds.
4. Investment income
Unrestricted
funds
Restrirted
funds
Total
2025
Total
2024
Income from Eden Tree investment
39,804
39,804
45,465
Bank deposit interest
4,877
3,068
7,945
8,322
44.681
3.068
47,749
53,787
In the year ended 29 February 2024, bank deposit interest receivable of £8,322 included restricted
fund income of £2,787.
13

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
5. Expenditure on charitable activities
Unrestrirted Designated Restrirted
funds
funds
funds
Total
2025
Total
2024
Salaries and pension
contributions
54,619
54,619
54,928
Sub-contract
18,909
18,909
18,372
Site maintenance
5,635
2,592
8,227
27,032
Bodwannick site development
8,211
8,211
21,985
Property
5,420
15.831
21.251
18,579
Office
905
905
818
Travel & subsistence
311
311
3,105
Legal and professional
4,000
4,000
Governance
1,588
1.588
1,823
Sundry
301
301
169
91,688
24,042
2,592 118,322
146,811
In the year ended 29 February 2024. expenditure on charitable activities from restricted funds,
amounted to £14,039 from designated funds, £37.246, the balance of £95,526 being from
unrestricted funds.
6. Net income/expenditure
Net income/expenditure for the year includes:
2025
2024
Depreciation of tangible fixed assets
15,831
15,261
Independent examiner fees
1,410
1,320
7. Trustees, remuneration and expenses
No Trustee has received any remuneration or reimbursed expenses from the Trust during the year or
prior year.
14

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
8. Staff costs
The aggregate payroll costs were as follows-
2025
2024
Salaries
51,216
52,866
Pension contributions
3,403
2,062
54,619
54,928
The monthly average number of persons employed by the charity during the year was 212024, 21.
No employee received emoluments of more than £60,(K)O during the year12024, none).
The Trust's Director is the only paid member of key management personnel and total employee
benefits payable to the Director during the year amounted to £43,312 {2024, £43,312).
15

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
9. Tangible fixed assets
Land &
buildings
Fixtures,
fittings &
equipment
Total
Cost
At l March 2024
2,850,214
75,733
2,925,947
Additions
27,800
27,800
Disposals
11161
(1161
At 28 February 2025
2.850,214
103,417
2,953,631
Depreciation
At l March 2024
20,081
32,811
52,892
Charge for the year
2.927
12.904
15,831
Disposals
11161
(1161
At 28 February 2025
23,008
45,599
68,607
Net book value
At 29 February 2024
2,830.133
42,922
2,873,055
At 28 February 2025
2,827,206
57,818
2,885,024
10. Investments
Eden Tree investment fund
2025
2024
Investments at valuation at l March 2024
873.528
878,965
Income reinvested
39,804
45,465
Revaluation
38.004
150,902)
Investments at valuation at 28 February 2025
951.336
873,528
16

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
In October 2017, the Trust invested £750,000 with Eden Tree Investments in their Amity Balanced
Fund for Charities. On 18 September 2023, the funds were transferred from the Amity Balanced
Fund to Eden Tree's Responsible and Sustainable Managed Income Fund, a sister fund. This was in
response to Eden Tree's decision to close the Amity Balanced Fund as part of an internal
reorganisation.
11. Debtors
2025
2024
Trade debtors
3.057
9.546
Other debtors
1,148
Accrued income
17.453
7,588
Prepayments
398
381
20,908
18.663
12. Creditors: amounts due within one year
2025
2024
Trade creditors
3,771
11,835
Accruals and deferred income
13,592
5,994
Taxation and Social Security
689
Other creditors
459
17,822
18,518
13. Pension schemes
The Trust contributes to a defined contribution pension scheme for the Trust Director.
14. Capital commitments
There were no capital commitments at either 28 February 2025 or 29 February 2024.
17

iai

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
Restricted funds
Restricted funds are/were as follows-
Bodwannick general- donations received for use at Bodwannick. The Trust intends to use
these funds to contribute to the costs of the disposal of the farmhouse at Bodwannick.
Bodwannick Peace Garden - donations received specifically to be spent on the proposed
Peace Garden.
Treraven volunteer cabin- grant received for the construction of a cabin, substantially
installed in 2023/24. The balance of £847 at 29 February 2024 has been transferred to
unrestricted funds at 28 February 2025. From the evidence available these funds were spent
on costs related to the cabin construction but included in general unrestricted maintenance
expenditure in previous years.
Chark Species Survival Fund- grant receivable form Cornwall Wildlife Trust for ground
clearance at Chark. Spent in 202415, awaiting receipt at 28 February 2025.
Col Welch legacy re bursaries- fund inherited from Yarner (a predecessor charity), with
subsequent added interest earned, restricted to be used for educational purposes.
Designated funds
Designated funds are as follows:
Fixed assets- this fund segregates fixed assets to better disclose the Trust's unrestricted
free reserves.
Strategic income support- this is an amount set aside for investment to generate an income
to support the revenue expenditure to be incurred as part of the Trust's strategic plan. At
year end this fund was increased by £27,711 (2024, reduced by £40,123) to reflect the
unrealised profit (loss) on the revaluation of the associated investments.
Bodwannick restoration - this was an amount set aside to cover the restoration costs of the
Bodwannick estate. Costs incurred were for professional fees both in 2024125 and 2023124.
The Trustees have decided not to pursue the restoration of the farmhouse and are intending
to sell the property and some adjoining land, whilst retaining the farmland and, subject to
planning, the Bothy for development and some surrounding land.
Transfers between funds
The following transfers between funds were made:
£27,80012024, £14,326) transferred from unrestricted funds to the designated fixed asset
fund, representing fixed asset additions in the year funded from unrestricted funds.
£385,680 from the designated Bodwannick restoration fund to unrestricted funds to reflect
the decision not to proceed with the Bodwannick restoration.
£847 from the restricted Treraven volunteer cabin fund to unrestricted funds, as explained
above.
In 2023124, £9.073 transferred from the Treraven volunteer hut restricted fund to the fixed
asset designated fund, reflecting the use of that fund to purchase fixed assets.
In 2023/24, £12,768, from the designated Bodwannick garden fund to unrestricted funds in
response to a need to increase free resenies.
20

The Gaia Trust (CIO)
Notes to the Financial Statements
Year ended 28 February 2025
16. Analysis of net assets between funds
Unrestrirted Designated
general
funds
funds
At 28 February 2025
Restrirted Total funds
funds
Tangible fixed assets
2,885,024
2.885.024
Investments held as fixed assets
285.053
666.283
951,336
Current assets
183.623
130.885
314,508
Current liabilities
(17,822)
(17,822)
Total net assets
450,854
3.551,307
130,885
4.133.046
At 29 February 2024
Unrestricted Designated
general
funds
funds
Restrirted Total funds
funds
Tangible fixed assets
2,873,055
2,873,055
Investments held as fixed assets
873,528
873,528
Current assets
96.638
158.934
128.664
384.236
Current liabilities
(18,518)
{18,5181
Total net assets
78,120
3,905,517
128,664
4,112,301
17. Cash and cash equivalents
2025
2024
Cash at bank and in hand
293.600
365,573
Investments
951.336
873,528
1,244,936
1,239,101
18. Related party transactions
There were no transactions with related parties during the year or prior year.
21