Company r¢gistrdtion number: 07530106 Charity registration number. 1157670 Tewkesbury Nature Reserve Limited (A company limited by guardntee) Annual Report and Financial Statements for the Year Ended 31 March 2025 Devereux & Hunt Ltd 51 Basepoint Business Centre Oakfjeld Close Tewkesbury Glos GL20 8SD
Tewkesbury Nature Reserve Limlted Contents Reference and AdminisiTative Details tndependent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to th¢ Financial Statements 8t017
Tewkesbury Nature Reserve Limited Referenee and Administrative Details Chairman Dr L J McEwen Trustees L Blacker A E Charlton R H A Watkins (resigned 16 April 2025) H Fleming KVLang E S Croose B A Howell (Tre&surer) (appointed 7 June 2024) E P S Goldensmith (Secretary) (appointed 19 Febnwy 2025) P J Bates (appointed 19 February 2025) N A Jones (appointed 19 Febnwry 2025) Registered Office 10 Cornfield Drive Bishops Cleeve Cheltenham GL52 7YR The Charity is incorpordted ID England and Wales. Company Registration Number 07530106 Charity RegistratioD Number 1157670 Independent Exanjiner Devereux & Hunt Ltd 51 Basepoint Business Centre Oakfield Close Tewkesbury Glos GL20 8SD Page I
Tewkesbury Nature Reserve Limited Trustees, Report The Trustees, who are directors for the PUTposes of company law> present the annual report together with the financial statements of the charitable company, Tewkesbury Nature Reserve ("TNR" th¢ "R¢serve" or the "Charity") for the year ended 31 March 2025. Objectives and activities Objects and TNR'S objectives are specifically ffStriCt to the conservatio protection and improvement of th¢ physicaI and natural envlronment and the promotion of the advancement of education of the public in the conservation, protection and improvement of the physical and natural environment. The main aims are: to create and maintain an urban wetland are4 including flood meadows and associated habitats. for the benefit of wildlife- the alleviation of flooding risks by better management of the water courses. to provide safe access for the public; and to educate the public in rnatters relating to nature conservation and sustainabl¢ land management. Public benefts The main activities of TNR during the year were: securing grant and donation income. generdl land management to achieve improved biodiversity" and provision of nature-connected learnin& outreach and heaIthlwellbeing activities for local communities. Th¢ TnteeS confirni that they have complied with the requirements of s¢ction 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by th¢ Charity Commission for England and Wales. Struetureg governance and maDagemeDt Nature ofgovernlng document TNR is controlled by its governing documenL a deed of trusL and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Re¢rnitmenl and appoinlmenl oftrnslees Vacancies on the Board of Trust¢¢s will be filled by appointments, made by existing trust¢¢s, of individuals with an interest iti practical nature conseryation. Their appointment to the Board will require the unanimous agreement of existing Trustees. Organlsailonal strHeiure TNR becatne a registered Charity on l July 2014. The current year and prior year have been prepared using the SORP. Aehievements and perforniance During the year, TNR successfully secured the necessary part funding to create a new Outdoor Learning Officer and Team Leader post from the Ernest Cook Trust and Lottery Fund Awards for All. TNR recruited four new Trustees and appointed a new secretary and Treasurer within the financial year. Page 2
Tewkesbury Natsre Reserve Limited Trustees, Report Major rLsks And managemenl ollhose rlsks Th¢ Trustees have a duty to identify and review the risks to which the Charity is expos¢d and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Fundraisin The Trustees and staff of TNR have identified projects which TNR are well placed to deliver, for example with an emphasis on Social Prescribing including enoagement with marginalised individuals such as isolated senior citizens• young people from disadvantaged backgrounds and people with physical and/or mental di5abilitie5. The inability to secure the necessary funding to deliver such projects is therefore considered a key risk and would limit the Charity's ability to meet certain of its objectives, for example in providing safe access and educating the public in matters relating to nature conservation and sustainable land managemenL TNR'S core funding for the ongoing maintenance of the Reserve has been through the Rural Payments Agency ("RPA"). This provid¢s two main income streams, the Basic Payment Scheme ("BPS"), which it h&s been announced will be phased out by 2027 with payments prowssively reduced from 2022 onwards, and Countyside Stewardship (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 farniers and land managers. The Environmental Land Managem¢nt Scheme ("ELMS") is the new way the UK government will subsidise13nd manageTS after leaving the EU. ELMS has three schemes which will reward environmentsl land managemenL two of which are expected to be relevant to TNR: Local Nature Recovery and Landscape Recovery. As ELMS remains in its trial period and with the phasing out of the BPS, there is a risk to TNR that core funding may be insufficient to meet the Costs in the Management Budget for staffing and the ongoing maintenance of the Reserve. Accordingly, TNR has taken up the offer of extending our Countyside Stewardship income stream from its current planned end date of late 2023 by 5 years. At any time during the trial perio¢ TNR has th¢ option of transferring from CS to ELMS. There remains a risk thaL after transfer in due course to the ELMS scheme. this is a markedly less valuable Income stream than the cutrent CS scheme. This risk will also be mitigated by bidding for ndS for reserve management from other sources. ruitment o Tnutees and Volunteers TNR is largely reliant on volunfrer time, both through its Trustees and regular volunteers across a rdnge of activities including maintenance, learning and outreach and Citizen Science. Furthermore, TNR'S Management Team includes volunteers providing support in a number of specialist areas. Should TNR be unable to effectively recruit new Trustees and Volunt¢er& either to enhance its current position or replace leavers, then there is a risk that it may not be abl¢ to wntinu¢ to provide its existing services or meet its operational and strategic goals, Page 3
Tewkesbury Nature Reserve Limited Trustees, Report Statement of Trustees, Respollsibilities The Trustees (wbo are also the directors of Tewkesbury Nature Reserve Limited for the purposes of company law) are responsible for preparing the Tntees, Report and the fmancial statements in accordance with the United Kingdotn Accounting Standards (United Klngdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to pr¢pare fmancial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these fJnancia] 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 prud¢nL State whether applicable UK Accounting Standards have been followe4 subject to any material departures disclosed and explained ID the financial statements. and prepare the flnancial statements on the going conc¢m basis unless it is inappropriate to presume that the charitable company will continue in business. The Ttust¢¢s are responsible for keeping adequate accounting records that are suificient to show and explain the charitable company's transacttons and disclos¢ with reasonable accuracy at any time the financial position of the charitable cornpany and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding tbe assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other itTegularities. The annual report was approved by the Trustees of the Charity on ...... . and signed on its behalf by: Dr L J McEwen Chairman and Trnstee Page 4
Tewkesbury Nature Reserve Limited Independent Examiner's Report to the trustees of Tewkesbury Nature Reserve Limited ('the Company,) I report to the Charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of rei)ort As the Cl)arity's Irustees of I1 Company (and also its d1Clor$ for the purposes of company law) vou are responsible for the preparation of tlie accounts in accordance with th¢ r¢quirem¢nts of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that ihe accounts of the Company aff not requid io be audited under Part 16 of the 2006 Acl and are eligible for independent examinatioo I report in respect of my exatnination of your Charity's accounts as Carried oul under section 145 of the Charilies Act 2011 ('1 201 l Act.). In carying out my examination I have followed tk Dirctions giv¢n by the Charity Commission uThJer section 145(5)(b) of tk 2011 Act. Independent examiner's statement I have completed my examination I confinn that no Matte have come to my attention in connection with the examination giving me cause to b¢li¢ve'. l. accounting records weff not kept in re5cL of Tewkesbury Natll Reserve Limited as reqUId by section 386 of the 2006 Act. or 2. th¢ accounts do not accord with those recols. or 3. the aruntS do not comply with tlie accounting qUirementS of section 396 of the 2006 Act other than any quirement ihai the accounts give a 'true and fair view, which is not a lltter considered as part of an ind¢Fcndent examination; or 4. the accounts hav¢ rnt been prepad in accordance with the methods and prin¢ipl¢s of the Statement of Recommended Practic¢ for accounting and reporting by cl]arities applicable to charities preparing their accounts in accordance with FiDanciai Reporting Standanl applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have coll across no other matters in conttction with examination to which attention should be drawn in this teport in 0er to enable a proper understanding of the accounts to be ached. Michelle D¢ver¢¥ FCCA 51 Basepoint Business Centre Oakfield Close Teivkesbury Glos GL20 8SD Page 5
Tewkesbury Nature Reserve Limited Statement ofFinancial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Restricted funds Note Income and Endowments from: Donations and legacies 82 2477 To121 income 11.48-910 70.837 Expenditure on: Charitable activities Tot21 expenditure Net income / (expEndituR) 399 Net movement in funds (10 425) 399 (12,526) Reconciliation of funds Total funds brought forward 153 672 Total funds carried forward 13 39.18344 104.463 141.C)4C)44k146 Unrestricted funds Total 2024 Restricted funds Note Income and Endowments from: Donations and legacies 147.180 li5 207 Tot21 income 147 180 155 207 Expenditure on: Charitable activities Total expenditure 55.880 Net IOrne / (expenditu} 102 588 99,327 Net movement in funds (3,261) 102,588 99,327 Reconciliation of funds Total funds brought forward Tolal funds carried fonvard 13 49,608 104,064 153 672 All of the CEwity'S activities derive from ¢Ominuing operations during the above No periods. The notes on pages 8 to 17 forni an integral part of dse fllwicial statetnents. Page 6
Tewkesbury Nature Reserve Limited (Registration number: 07530106) Balanee Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 10,946 12,405 Current assets Debtors Casb at bank and in hand io 20,245 112,455 132,700 46,234 95.985 142,219 Creditors: Amounts falling due within one year 12 952 Net current assets 132 700 141,267 Net assets 153,672 Funds of the Charity: Restrieted income funds Restricted fimds 13 104,463 104,064 Unrestrieted ineome funds Unrestricted funds 39,183 49,608 Total funds 13 143.646 153,672 For the financial year ending 31 March 2025, the Charity was entitled to exemption from audit under section 477 of the CompleS Act 2006 relating to small companies. Directors, responsibilities: The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476" and The director5 acknowledge their responsibilities for complying with the requirements of the Act with respect to awounting records and the preparation of accounts. These financial ststements have been prepared in aOrdanCe with the special provisions relating to companies subject to th¢ small companies regime within Part 15 of the Companies Act 2006. The financial statements on peS 6 to 17 were approved by the Trustees- and authorised for issue on .................... and signed on their behalf by: Zffvl C£LLLL Dr L J McEwen Chairnian B A Howell Trustee The notes on pages 8 to 17 forni an integral part of these financial statements. Page 7
Teivkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 I Charity status The Charity is a company limited by guardntee and consequently does not have share capital. Each of the trustees named on page I, together with John Reilly and Philip Worknian (non-directots) is liable to contribute an amount not exceeding £1 O towards the assets of the Charity in the event of liquidation. The address of its registered oifice is: 10 Cornfield Drive Bishops Cleeve Cheltenham GL52 7YR 2 Accounting policies Summary of signifieant aeeounting policies and key aeeountipg estimates The principal accounting policies applied in the preparation of thes¢ financial statements are set out below. These policies have b¢en consistently applied to all the years presented, unless otherwise stated. ststement of compliance The financial statem¢nts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicabl¢ to charities prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Tewkesbury Nature Reserve Limited 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. Going coneern Th¢ tNstees consider that there are no material uncertainties about the Charity's ability to continue as a going oncern nor any significant areas of unc¢rtainty that affect the carrying value of assets h¢ld by the Charity. Income and endowments All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donollons ond legacles Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforn]ance by the Charity before the Charity is entitled to the funds, the incorne is deferred and not recognised until either those conditions are fully meL or the fulfilment of those conditions is wholly within the control of the Charity and it is probabKe that these conditions will be fulfilled in the reporting period. Page 8
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Grants recelvable Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grants have been met. 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 tbat category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Taxation The Charity claims exemption frotn corporation tax under section 267 of th¢ CTA 2010 &s it operates solely on its charitable activities. Tangible fixed assets Individu red assets costing £1,000 or more are initially recorded at cos( less any subsequent accumulatsd depreciation and subsequent accumulated impairnlent losses. Depreciation and Vdmortisation Depreciation is provided on tangible fixed assets so &s to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Plant and machinery Motor vehicle5 Depreciation method and rate 250/0 reducing balance Strdight line over 10 years Trade credltors Trade creditors are obligations to pay for goods or servi¢es that have been acquired in the ordinary course of business from suppliers. Accounts payable are Classified as current liabilities if the Charity does not have an unconditional righL atthe end of the reporting period, to defer settlement of the creditor for at least twelve months after th¢ reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recogrjised initially at the transaction pric¢ and subsequently measur¢d at amortised cost using the effective interest method. Fund structure Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the Charity. Restrictsd income funds are those donated for use in a partAcular area or for specific purposes, the use of which is restri¢t¢d to that area or purpose. Page 9
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 3 Ineome from donations and legaefies Unrestricted funds General Restricted funds Totsl 2025 Donations and legacies: Donations from other charities Donations from individuals Donations from businesses 2,000 2,759 80 1,196 10,000 3.196 12,759 80 Interest receivable 1,556 1,556 Grants, including capital grants.. Government grants 5.015 59,641 11,410 70,837 82347 Unrestricted funds General Restrieted funds Total 2024 Donations and legacies: Donations frorn other charities Donations from individuals Donations from businesses 114,539 6,200 114,539 6,635 1.025 435 1.025 Interest receivable 46 46 Grants, including capital grants. Government grants 6,521 26,441 &027 147,180 155207 Page 10
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 Mareh 2025 4 Expenditure on eharitsble activities Unrestrieted funds General Restricted funds Total 2025 Totsl 2024 Wages Recruitment Motor expenses Sundry expenses Professional fees Advertising and marketing Visitor access Rent Repairs and maint¢nance Insurance Learning and outreacb expenditure Staff training Bank charges Telecommunications Computer expenses Profit on dtsposal of fixed assets Depreciation 10,974 214 2,020 357 754 49,185 479 60,159 693 2,020 367 2,383 45,419 750 472 921 2,178 441 io 1,629 1,260 4.800 449 1,260 5,400 1,842 3,094 11.530 362 79 600 1,393 3,094 146 195 79 614 112 (176) 1.459 3,800 6,111 1,151 1,253 1,098 71 11,384 167 746 329 1,360 923 1,664 (11,931) 1,559 (176) 1.459 21035 70,438 92,273 55,880 Pagell
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 Mareb 2025 S Net incomingloutgoing resources Net incoming resources for the y¢ar include: 2025 2024 Depreciation of fixed assets 1.559 6 Trustees, remuneration and expenses Trustees received reimbursed expenses of £1,025 in total from the Charity during the year. No remuneration was paid to the Trustees. 7 Staff costs The aggregat¢ payroll costs were &8 follows: 2025 2024 Staff eosts during the year were= Wages and salaries, socÈaE security and pensions 60,159 45,419 The monthly average number of persons employed by the Charity during the year w&s as follows: 2025 No 2024 No General Full-time equivalent nlav No employee received emoluments of more than £60,000 during the year. 8 Taxation The Charity is a registered charity and is therefore exempt from taxation. Page 12
Tewkesbury Natsre Reserve Limited Notes to the Finaneial Statements for the Year Ended 31 March 2025 9 Tangible fixed assets Furniture and equipment Motor vehicles Total Cost At l April 2024 Additions Disposals 8,721 12,741 21,462 At 31 Mah 2025 Depreciation At l April 2024 Charge for the year Eliminated on disposals 7,982 187 1,075 1272 9.057 1,459 At 31 March 2025 8.169 10,516 Net book value At 31 March 2025 552 10.946 At 31 March 2024 739 11,666 10 Debtors 2025 2024 Prepayments Accrued income 1,391 44.843 46,234 20.245 11 Cash and cash equivalents 2025 2024 C&sh at bank 112,455 95.985 12 Creditors: amounts falling due within one year 2025 2024 Accruals 952 952 Page 13
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 13 Funds Balance gt l April 2024 Incoming resources Resourees expended Balanee at 31 March 2025 Unrestricted funds General General fund 49,608 11,410 (21,835) 39,183 Restrieted funds Higher Level Stewardship Gloucester Community Health and Well-being Fund (2024) The Summerfjeld Charitable Trust Caring for Commullities and People ("CCP') Fund National Lott¢ry Awards for All Barnwood Trust Thriving Communities (2024) Site enhancementlmaintenance Wheatpieces Parisb Counckl Gloucestershire County Council Tim Juckes Gloucestershire Wildlife Trust- Do One Thing Gloucestershire Nature on Prescription (2023) Ernest Cook Trust Tewkesbury Borough Council 7,787 (7.787) 30,000 (1,244) (1,000) 28,756 1.000 426 (426) 20,000 400 20,000 13,526 29,747 7,500 (16,621) (7,500) 10,000 500 I,ioo 10,000 332 (168) (I,ioo) (4,731) 4,731 24,584 296 (7,417) 17.463 18,929 16.147 (18,929) (2,405) 500 254 14,242 144 Total restricted funds 70,837 104,463 Total funds 153 672 82247 92273 143,646 Page 14
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 13 Funds-continued The specific purposes for which the funds are to be applied are as follows: Restricted funds Higher Level Stewarthhip is a restricted fund to be used for the mainteDanrx of the Reserve. The Summerfield Charitable Trnst is a restricted fund to be used on promoting outdoor learning activities on th¢ Reserve. The Caring for Communities and People ("CCP") Fund is a restricted fund to be used for the creation of a ¢ommunity garden on the Reserve. The National Lottery Awards for All Fun(t nding from Tim Juckes and Gloucester County CouncÉl's Build Back Better are restri¢t¢d fi]nds to be used on promoting outdoor learning activities on the Reserve. The Barnwood Trnst fund is a restricted fid to be used for th¢ Reserve's Access project. The Thriving Communities fund (2024) is a restricted fund to be used for the Reserve's Out of the Box project. The Gloucestershire Wil(llife Trust- Do One Thing is a restricted fund to be used forthe Reserve's Do One Thing project. The Gloucestershire Natur¢ on Prescription (2023) and the Gloucestershire Community Health and Well-being Fund (2024) are restricted funds to be used for the Reserve's Wildlife and Water for Well-being project (3W). The Ernest Cook Trnst fimd is a r¢strÉcted fund to be used for the Reserve's planned Learning and Outreach projecL The Tewkesbury Borough Council fund is a restricted fund to be used for artS-b&sed activities to improve physical and mental wellbetng The Site enhancementlmaint¢nance fLmd is a restricted fund to be used for enhancements to the reserve and to provide equipment for maint¢nance of the reserve. Wheatpieces Parish Council provided £500 for the provtsion of a bicycle rack on the reserve. Page 15
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for the Year Ended 31 March 2025 13 Funds- eontinued Balance at l April 2023 Incoming resources Resources expended Balance at 31 March 2024 Unrestricted funds General General fund 52,869 8,027 (11.288) 49,608 Restricted funds Higher Level Stewardship The Summerfield Charitable Tnt Caring for Communities aDd People ("CCP") Fund National Lottery AwariL% for All Barnwood Trust Triving Communities Gloucester County Council's Build Back Better Tim Juckes Gloucestershire Wildlif¢ Trust- Do One Thing Gloucestershire Wildlif¢ Tht- Water and Wildlife for Well-being Ernest Cook Trust Tewkesbury Borough Council Total restricted funds 6,941 (6.941) (50) 1.050 1,000 426 426 10.000 40,000 7.500 (10,000) (10253) 29,747 7.500 1.000 6200 (1,000) (1,469) 4,731 28,392 (3,808) 24,584 30,000 16.147 (11.071) 18,929 16,147 1,000 1.476 147.180 104,064 Total funds 45 155 207 153,672 Page 16
Tewkesbury Nature Reserve Limited Notes to the Financial Statements for tbe Year Ended 31 March 2025 14 Analysis of net assets between funds ToÉal funds at 31 Mareh 2025 Unrestricted Restrlcted Tangible fixed assets Cuent assets 10,946 10,946 28,237 104,463 132.700 Current liabilities Net assets 39,183 104,463 143.646 Total funds at 31 March 2024 Unrestricted Restrleted Tangible fixed assets Current &ssets 12,405 37,683 480 12,405 142219 952 104.536 472 Current liabilities N¢t ass¢ts 104,064 153 672 15 Related party transaetions During the year the aggregate amount of donations received from Trustees w&s £10,000. This resulted in an addition to debtors for £2,500 whÈch w&s the associated Gift Aid reclaimed from HMRC after the year end. All donations received were free from conditions that require further disclosure. There were no other related paty transactions. Page 17