Company registration nuinber.. 07530106 Chdrity regi5lratiun nuinber= 1157670 Tewkesbury Nature Reserve Limited (A company limited by guarantee) Annual Report and Financial Ststeinents foi. the Year Ended 31 March 2024 Devereux & Hunt Ltd 51 Basepoint Business Centre Oakfield Close Teivkesbury Glos GL20 8SD
Tewkesbury Nature Reserve Limited Contents Reference and Administrative Details Independent Examiner's Report Statemeni of Financial Activities Balance Shcet Notes to the Financial Statements sto 16
Tewkesbury Nature Reserve Limited Reference and Administratii'e Details Chairman Dr L J McEwen Trustees L Blacker A E Charlton R H A Watkins H Fleming KVLang E S Croose B A Howell (appointed 7 June 2024) Registered Office 10 Cornfield Drive Bishops Cleeve Cheltenham GL52 7YR The Charity 18 incorw)rated in England and Wales. Company Registration Number 07530106 Charity Registration Number 1157670 Independent Examiner Devereux & Hunt Ltd 51 Basepoint Business Centre Oakfield Closc Tewkesbury Glos GL20 8SD Page I
Tewkesbury Nature Reserve Limited Trustees, Report The Trustee5, who are directors for the purp08e8 of company law, preseiit the annual report together with the financial siatements of tlic charitable company, Tewkesbury Nature Reserve ("TNR" the 'Reserve" or tl)e "Charity"} for the year ended 31 March 2024. Objectives and activities Objeets aims TNR'S objectives arc spccifically restricted to the conscfvdlion, protection and iinproiiLlllCtil of the physical and natural environment and the promotioii of the advancement of education of the public in the conservation. protection and improvement of the pliysieal and natural environinent. The Tnain aims are-. to CTcate and mairLtain an urban wctland area, including flood meadows and associated habitats, for the benefit of wildlife- the alleviation of flooding risks by better management of the water courses: to PTovide safe access for the public- and to educate the public in matters relating to nawre conservation and sustainable land management. Public benefit The main activities of TNR during the year were.. securing grant and donation income. general land management to achieve improved biodiversity. and provision of nature-connected learning, outreach and healthlwellbeing activities for local communities. The Trustees confirm that they have coinplied with the requirements of sectioii 17 of the Charities Act 201 I to have diie regard to the piiblic benefit guidance published by the Charity Commission for England and Wales. Structure, governance and management Nature ofgoverning doeunient R is controlled by ils governing documenl, a deed of trust. and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Rccruitinent appointmenl of trustees Vacancies on the Board of Trllstees will be filled by appointments, made by existing trustees, of individuals with an interest in practical nature conservation. Theii. appoilltmenl to the Board will require the unanimous agreement of existing Trustees. Oyganisational strActure TNR became a registered charity on l July 2014. The current ycar and prior year have been preparcd using the SORP. .4chievements and performance During the year, TNR successfully Secured the necessary funding to appoint new staff to deliver on three distinct projects- an A¢¢ess and Commullity officer. a 'Do One Thing" Project Officer and a L¢arning and W'ell-heing Officer. These projects are fundcd respectively by The Bamwood Trust, the Gloucestershire Wildlife Trusl and Gloucestershirc Nature on Pi'escription. Page 2
Teivkesbury Nature Reserve Limited Trustees, Report Major risks aiid manageiNent ofthose risks The Trusiees have li duly lo identify dnd review Ihc ribkb lo which Lhe Chaiily is ¢xposed and Lo ensure appropriale Controls are in place to provide reasonable assurance agaiiist fraud and error. Fundraifin The Trustees and staff of TNR have identified project8 which TNR are well placed io deliver. for example with an einpl)asis on SoLial Prescribing including engagement with marginalised individuals such as isolated senior citizens, young people from disadvantaged backgrounds and people with physical andlor mental disabilities. The illdbility tu secure the necessary funding to deliver such projects is therefore cvnsidered a key risk dnd .Uld liinit the Charity's ability to ineet certain ot its objectives, tor exainple in providing safe access and educating the public in matters relating to nature conservation and sustainable land management. TNR'S Core fiinding for the ongoing maintenan¢e of the Rcserve is thmugh the Rural Payments Agency ("RPA"). This provides two main incoine streams, the Basic Payment Scheine ("BPS"), which it has been announced will be phased out by 2027 with payments progressively reduc¢d from 2022 onwards, and Countryside Stewlardsliip (CS) scheme. In March 2021, the UK government announced major changes in which the latter funding would in future be provided through the RPA to fanncrs and land maiiagers. Tlie Enviroiitnental Land Management S¢heme ("ELMS") is the new way the UK government will 8ubqidise land managers after leaving the EU. ELMS has three schemes M,hich ivill reward environmental land manageinent. two of which are expected to be relevant to TNR. _ Local Nature Recovery and Landscape Recovery. As ELMS remains in its Irial period and with the phasing out of tl)e BPS, there is a risk to TNR that core funding may bc insufficient to meet the costs in the Manageinenl Budget for the ongoinLF maintenance of the Re5etve. Accordingly, TNR has taken up the ofter of extending our Countryside Stewardship income stream trom its current planned end date of late 2023 by 5 years. At any lime during the tt'ial period, TNR has the option of transferring from CS to ELMS. There remains a risk that, after transfer in due course lo the ELMS scheme, this is a inarkedly less valuable iiicome streain th] the current CS sChce. Recl-uilniet O 'Tiwslees aFid Volunteers TNR is lai'gely reliant on volunteer time. both through ils TNstees and regular volunteers 8cross a range of activities including maintenance, learning and outi'each and Citizen Science. Furthermore, TNR'S Management Team includes volunteers providing support in a nuinber of specialist ai'eas. Should TNR be unable to effectively recruit new TTusiees and Volunteers, either to enlthnee its current position or replace leavers, then there is a risk that it may not be able to continue to provide its existing services or n]eet its operational and strategic goals. Page 3
Tewkesbury Nature Reserve Limited Trustees, Report Statement of Trustees, Responsibilities Th¥ Trusiees (who arc &150 the direclors of Tewkesbury Nature Reserve Limiled for ihe purposes of coinpany law) are responsible for preparing the Tru5tees' Report and the financial staleinents in accordance with the Uiiited Kingdom Accounting Standards (United Kingdom Geiierally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial slalements for each financial year. Under company laiv the Trustees must not approvc the financial statements unlesi thcy are satisfied that tl)ey give a true and fair viciv of the state of affairs of the charitable coinpaiiy and of its incomkng resoui-ces and application of resoui'ces, includiiig its income and expcnditurc, for Ihat pcriod. Tn preparing thcsc financial statcmcnts, tlic Truslccs arc rcquircd to.. select suitable accouniing policies and apply them consistently; observe the inethods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have bccn followed, siibject to any material departures discloscd and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustee5 are responsible for keeping adequate accouniing Tecords that al'e sufficient to shoiw and explaiii the charitablc company's transactions and dis¢losc with rcasonablc a¢curacy at any tirnc thc financial position of the charitable company and enable them to ensure that the fillancial statements comply with the Companies Aci 2006. They are also rcsponsible for safeguarding the assets of the charitable company and hence for taking reasonable stcps for the prevention and detection of fraud and other irregularitiC5. The annual report was approved by the Trusleets of the Charity on . Dr L J McEwen Chairtnan and Trustee Page 4
Tewkesbury Nature Reserve Limited Independent Examiner's Report to the trustees of Tewkesbury Nature Reserve Liwnited ('the Company,) I report to Ihe Charity ttustees on my exainination of the accounts of the Company for the year ended 31 March 2024. Responsibilitie5 and basis of report As the Charity'5 tru6te¢s of the Compally (and #150 itb directors for Ihc purposes of Company law) you are rcsponsible foi. the prepaietion of the accounts in accoi.dance with the reqiiir¢ments of the Companies Act 2006 ('the 2006 Act,). Having salisficd myself that the accounts of the Coinpaiiy are not required to be audited under Part 16 of the 2006 Act and are eligible for ind¢pendent examination, l i'eport in respect of my examination of your Charity's a¢¢ounts as carried out under section 145 of thc Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the r)irections given by the Charity c.ommission Linder section 145{5)Ib) of the 2011 Act. Independent exAminer's Statement I have completed imy examinatiotl. l eonfirn] that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of Tewkesbury Natui'e Reserve Limited as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination; or 4. . the accounts have noi been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to cliarities prepariThg their aecounts in COrdanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no conc¢ms and have come across no other mattel's in connection with the examinaiion to 'hICh attention should be drawn in this report in ordei to eiiable a propel. understandiiig of the accounts lo be l'eached. Michelle Devereux FCCA 51 Bascpoint Business Ccnlre Oakfield Close Tewkesbuiy GL20 8SD Date.. ..ISJi.ts.. Z Page 5
Tewkesbury Nature Reserve Limited Statement of Financial Activities for the Year Ended 31 March 2024 (tncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds TDtal 2024 Restricted funds Note Ineome and Endowments from: t)onation.% and legacics 8.027 147,180 155 207 Total income 147,180 155,207 Expenditure on: Charitable activities (11,288).- 44,5921_ (55,880) Total expenditure 11.288) 44.592 55.880) Net expenditure (3,261)_--- 102,588 99.327 Net movement in funds (3,261 } 102,588 99,327 Reconciliation of fund5 Total ndS brought forward 1,476 Total funds carried forward 13 49,608 104,064 153,672 Unrestricted funds Total 2023 Restricted funds Note Income and Endowments from: Donations and legacies 13,173 1.899 15,072 Totsl income 13,173 1,899 15,072 Expenditure on: Charitablc activities 33,577 79,840 113,417 Total expenditure 33.577 79,840 113.417 Net income 20,404 77,941 98,345 Net movement in funds (20,404) (77.941) {98,345) Reconciiiarfon of fund5 Total funds brought fonvard 73,273 79,417 152,69 Total ndS carricd fonvard 13 52,869 1.476 All of the Charity's activities derive from continuing operations during the above two periods. The notes on pages 8 to 16 fonn an integral part of these financial stat¢mcnts. Page 6
Tewkesbury Nature Reserve Limited (Registration number: 07530106) Balance Sheet as at 31 March 2024 2024 2023 Note Fiyed assets Tangible assets 12,405 3,310 Current assets Debtors Cash at bank and in hand 10 46,234 95,985 142,219 2,708 48,957 51,665 Creditors: Amount5 falling due within one year 12 952 630 Net current assets 141267 51,03) Net assets 153,672 54,345 Funds of the Charity: Restricted Income funds Restricted funds 13 104.064 1,476 Ullrestricted incotne funds Unrestricted funds 49,608 52,869 Total funds 13 153.672 54,345 For the financial year ending 31 March 2024, the Charity ivas entitled lo exemption from audit under section 477 of the Companies Act 2006 relating to sn]all companies. Directors, responsibilities.. The members have not required the Charity to obtaiii an audit of its accounts for the year in quesiion in accordance witli section 476,. and The directors acknowledge their responsibiliiies for coinplying wit]1 the requirements of the ACE With respect lo accounLing records and the preparalioii of accounis. These financial statements liave been prepared in accordanee with the special provisions relating lo companies subjecl lo ihe small companics r¢gime within Parl 15 of ihe Coinpanies ALI 2006. Thc fin]CIal statemeiits on pages 6 to 15 were approved by tli¢ Trustees- and autlioriscd for issue on ..IC..i£: and signcd on their bchalf by.. Dr L J McEwen Chairman R H A Watkins Trustee The notes on pages 8 10 16 foi'm all inlegi'al part of these financial statements. Page 7
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The Charity is a company limited by guaraiitee and consequently does not have share capital. Each olthe trustees Iiamcd on pagc I, togcihei. with John R¢illy and Philip Workman (non-dir¢ctors) is Ikablc to contt'ibutc an amount not exceeding £10 towards the assets of the Charity in the event of liquidation. The addTess of its registcrcd office is.. 10 Cornfield Drive Bishops Cleeve Cheltenham GL52 7YR 2 Accounting policies Summary of significant accounting policies and key accounting estimates Thc principal accounting policics applied in thc prcparation of tbcsc financial stalcincnts are sct out bclow. Thcsc policies have been collsistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Chai'ilies.. Statement of RecomTnended Prdciice (applicable to charities preparing their accounts in accordance w'ith tlie Financial Reporting Standard applicablc in the UK and Republic of Ireland (FRS 1021)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Ba515 of preparation Tewkesbury Nature Reserve Limited meets the definilion of a public bcnefit entity under FRS 102. Assets and liabilities are initially rccognised at historical cost or transaction value unless otlienvise staled in the relevant accounting policy notes. Going concern The trustees considcr that rhere are no material uncertainties about thc Charity's ability to continue as a going concern nor any signifLcant areas of uncertainty that affect the carying Tr'alue of assets held by the Charity. Income and endowments All income is recognised once the Charity has entiileinent lo the income, it is probable that the income will be received and the amount of the illcome receivable can be measured reliably. Donations and legaeies Donations are recognised when the Charity has been notified in writing of both tlie amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the Charity before thc Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the tultilinent of those conditions is wholly within the control of the Charity and it is probable that thcsc conditions will be fvlfilled in the reporting period. Page 8
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Grdnts receivable Grants are recogJnised when the Charity has an entitlement lo the funds and any conditions linked lo the grants bave been rn. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable seltlement is required and the amount can be measured reliably. All cosls are allocaled lo the applicable expenditure heading that aggregate similar coqts to tliat catcgory. Where costs cannot be direcily attributed to particular headings Iliey have been allocated oli a bagis consistent witl) thc use of i"esollrces, with central staff costs allocated on the basis of lime spent, and depreciatioii charges allocated on the portion of the asset's use. Other 8UPPOrt costs are allocated based on the spread of slaff costs. Taxation Th¢ Charity claims exemption from corporation lax under section 267 of the CTA 2010 as it operares solely on ils Lharitable aLtivities. Tangible fixed assets Individual fixed asscts ¢osting, £1,000 or more are initially recorded at cost, less any subsequent accumulated dcpreciation and Subsequent accumulated impairnient losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write oft the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class Plant and macbinery Depreeiation method and rxte 25 % reducing balance Straight line over 10 years Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in tbe ordinary course of business from supplicrs. Ac¢ounts payable are clas5ifi¢d as curi'cnt liabilities if the Charity does not havc an unconditional right, at the end of the reporting pcriod, to defer settlcmcnl of the creditor for at least twelve months after the repotting date. If there is an unconditional right to defer settlement for at least twelie months after the reporting date, they are presented as non-current lidbilitics. Trade creditors are recognised initially at the transaction piice and subsequently measured at amortised cost usiiig the effective interest method. Fund strueture Unrcstricied income funds are general funds that are available for use at the trustees, discretion in furtherance of the objcctives of thc Charity. Restricted income funds are tbose donated for use in a particular area or foT specific purposes, the use of which is restricted to that area or purpose. Page 9
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 3 . Income from donations and legacies Unrestricted funds General Restricted funds Total 2024 Donations and legacies.. Donations from othcr charitics Donations from individuals Doiiations trom businesses 114,539 6,200 114,539 6,635 1.025 435 1.025 Intcrest receivablc 46 46 Grants. including capital grants.. Government grants 6,521 26,441 32,962 8,027 147,180 155,207 Unrestricted funds General Re5trlcted funds Total 2023 Donations and legacies.. Donations from other charities Donations froin individuals Donations from businesses 1,000 608 50 1,000 2,000 608 50 Grants, including capital grants: Government grants 11.515 899 12,414 13,173 1,899 15,072 Page 10
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 4 Expenditure on charitable activities Unrestrieted funds General Restricted funds Total 2024 Total 2023 Wages Recruitment 9,090 36,329 750 45,419 750 70.605 274 738 Tractor expenses Motor expenses Sundry expenses Professional fees Advertising and marketing Habitat creation Visitor access 472 921 472 921 1.872 420 441 1,452 10,508 9,900 169 3,620 3.074 Rent Repairs and maintenance Insurance Learning and outreach expenditure Staff training Bank ¢harges Accountancy Tele¢ommunications Computer expenses Profil on disposal of fixed assets Depreciation 1,800 6.111 2,000 3,800 6,111 1.253 708 1,253 1,098 71 9.459 175 85 390 71 306 306 630 650 415 72 508 1.592 923 1,664 (11.931) 1,559 123 (300) 2,411 (11,931) 1,559 11,288 44,592 55,880 113,417 Pagell
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 5 liet incomingloutgoing resources Net incoming resources foi the year incliide= 2024 2023 DeprcLi#lion of fixed a55els 1.559 2,411 6 Trustees, remuneration and expenses No Trustces rcccivcd any rcimburscd cxpcnscs from the Charity during the ycar. 7 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salarie8, social security and pcn8ion8 45,419 70,605 The monthly average number of persons employed by the Charity during the year was as follows.. 2024 2023 General No employee received emoluments of more than £60,000 during the year. 8 Taxation The Charity is a registered charity and is therefore exeinpt from taxation. Page 12
Teivkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 9 Tangible fiIed assets Furniture and equipment ,Motor vehicles Total Cost At l April 2023 Additions Disposals 8.721 20,806 11,993 20,058 29,527 11,993 20.058) At 31 March 2024 8,721 12,741 21,462 Deprecladon At l April 2023 Charge for the year Eliminated on disposals 7,734 248 18,483 26,217 1,559 18,719 18.719 At 31 Mar¢h 2024 7,982 1,075 9,057 Net book value At 31 March 2024 739 11.666 12,405 At 31 March 2023 987 2,323 3,310 10 Debtors 2024 2023 Prepayments Ac¢nEed income 1,391 44,843 46.234 1,006 1.702 2,708 1 I Cash and cash equivalents 2024 2023 Cash at bank 95,985 48,957 12 Creditors: amounts falling due wlthSn one year 2024 2023 Accruals 952 63a 630 952 Page 13
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 13 Funds Balance at I April 2023 Incoming resources Resources expended Balance at 31 Mareh 2024 Unrestricted funds Geiieral General fund 52,869 8.027 111.288) 49.608 Restricted funds Hitkher Lee[ Stewardship The Summerfield Chaiiiable Trust Caring for Comrnunities and People {"CCP") Fund National Lottery Awards for All Barnwood Trust Thriving Communities CJloucester County Council's Build Back Better Tim Jucke5 Gloucestershire Wildlife Trust- Do One Thing Gloucestersliire Wildlife Tivst- Water and Wildlife for Well-being Ernest Cook Tnist Tewkesbury Borough Council 6.941 (6,941) (50} 1,050 1,000 426 426 10,000 40.000 7,500 (10,000) (10,253) 29.747 7,500 1,000 6,200 (1,000) (1,469) 4,731 28.392 (3,808) 24,584 30,000 16,147 1,000 (11,071) 18,929 16,147 ,000 Total restricted funds 1,476 147,180 44,592 104,064 Total funds 54,345 155,207 (55,880 153.672 Page 14
Teivkesbury Nature Reserve LimKted Notes to the Financial Statements for the Year Ended 31 March 2024 13 Funds - continued Balance at I April 2022 Incoming resources Resourees expended Balance at 31 March 2023 Unrestricted fund5 General General fund 73.273 13,173 (33.i77) 52,869 Restricted funds Higher Level Stewardship Thc Summerfield Charitable Tnjst Grccn Rccovcry Challcngc Fulld Carillg for Communities and People ("CCP") Fund Tewkesbury Borough Council Covid Recovery Fund 7,787 (7,787) (2,323) 168.156) 3,373 76,044 1,050 (7,888) 1,000 (574) 426 1,000 1,000 Total restricted funds 1,899 79,840 1,476 Total funds 152.690 15,072 (113.417) 53,345 The specific purposes for which tlie funds are to be applied are as follows.. Restricted funds Higher Level Stewardship is a restticted fund to be used foi the inaintenance of the Reserve. The Summerfield Charitable Trust is a restricted fund to be used on promoting outdoor learning activities on the Resern'e. The Green Recovery Challenge fund was a restricted fllnd to be used for the Reserye's 'Green Lung, projeci. The Caring for Communities and People ("CCP") Fund is a restricted fund to be used for the creation of a community garden on the Reserve. The Tewkesbury Borough Council c.ovid Recovery Fund is a rcstricted flind to be used for arts-based activities to improve physical and mental wellbeing of individuals impacted by Covid-19. The National Lottery Awards for All Fund, nding trom Tim Juckes and Gloucester County Louncil's Build Back Better are reslricied funds to be used on promoting outdoor learning activities on the Reserve. The Barnwood Trust fund is a restricted fund to be uscd for the Reserve's Access project. The ThTiving Communitieg fund is a restricted fiind to be used foi. the Rc5erve's Out of the Box project. The Gloucestershire Wildlife Trust- Do One Thing is a restricted fund to be used for the Reserve's Do One Thing project. The Gloucestershire Wildlife Trust - Water and Wildlife for Well-being is a restiicted fund to be used for the Rc5erve's Water and Wildlife for Well_being project. The Ernest Cook Trust fund is a restricted fund to be used for the Reserve's planned Learning and Outreach project. The Tewkesbury Borough Council fund is a restricted fund to be used for arts-based activities to in]prove physical and mental wellbeing. Page 15
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2024 14 Analysis of net assets beth'een funds Total funds at 31 March 2024 Unrestricted Restricted Tangible fixed assets 12,405 12.405 Current setS 37.683 104,536 142,219 Cuffeni liabilities 480 472 952 Net assets 104,064 153,672 Total fund$ at 31 l¥qareh 2023 Unrestricted Restricted Tangible fixed assets Current assets 3,310 3,310 50.189 630 1,476 51.665 630 Current liabilities Net assets 52,869 1,476 54,345 Page 16