Charity Number 1160912
THE EXMOOR SOCIETY
TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MAY 2022
The Exmoor Society
| Contents | Page | |
|---|---|---|
| Legal and administrative information | 1 | |
| Report of Trustees | 2 – 5 | |
| Independent examiner's report | 6 | |
| Statement of fnancial activities | 7 | |
| Balance sheet | 8 | |
| Notes to the fnancial statements | 9 – 20 |
The Exmoor Society
Report of the Trustees for the year ended 31 May 2022
Charity number 1160912 Business Address 34 High St Dulverton Somerset TA22 9J Trustees Mrs Rachel Thomas (Chairman) Dr Keith Howe (Vice Chair) Mrs Karen Trigger FCA (Hon. Treasurer) retired Sept 2021 Mrs Arabella Amory Mr Christopher Binnie – retired Sept 2021 Mrs Christina Williams Mr Nigel Hester Ms Susan May – retired Sept 2021 Mr Roger Watts Ms Lisa Eden Prof. John Wibberley Ms Catherine O’Sullivan Mrs A May Mrs Jill Edwards Mrs Victoria Everleigh – appointed Sept 2021 Mr Bill Gash – appointed Sept 2021 Independent Examiner Mrs Helen Mansford FCA FCCA Stevens and Willey Grenville House 9 Boutport Street Barnstaple EX31 1TZ Bankers National Westminster Bank Plc Bank Square Dulverton TA22 9AZ
Page 1
The Exmoor Society
Report of the Trustees for the year ended 31 May 2022
The trustees present their report and the financial statements for the year ended 31 May 2022. Trustees who served during the year and up to the date of the report are set out on page 1.
Structure, governance and management
Governing Document
The Society is a Charitable Incorporated Organization (CIO) registered on 16 March 2015 and commenced operating on 1 June 2015, governed by a constitution. As at 1 June 2015 all the assets and liabilities of the registered charity “The Exmoor Society” number 245761 were transferred to the CIO
Appointment and training of trustees
All trustees are required to complete a form prior to appointment and indicate their areas of interest. All new trustees receive the latest newsletter, a copy of the annual report and an update on the charity.
Organization
The charity is administered by its principal Officers (Chairman, Vice-Chairman and Treasurer) acting with the advice and consent of Trustees and the advice of various advisory groups. All officers and trustees are elected by the Society at its Annual General Meeting The Society now employs two Administrators (one with legal training & one who is an accountant) Each working 3 days a week. The Society makes frequent use of voluntary help by its members.
The Board of Trustees (Executive Committee) meets bi-monthly.
Associated Groups
Associated with the Exmoor Society were a number of local groups, some centered on particular locations, others covering wider areas such as the Bristol area.
These groups provide a local interest for Exmoor Society members through programmes of events, satisfying local needs and interests. They were formed by local groups of members as mutual associations outside the Society. As mutual association they are not themselves charities and in principle not subject to control by the Society. They have in some cases admitted non-members of the Exmoor Society to their own membership. They govern themselves under the normal rules that apply to mutual associations. The Society has encouraged these groups but most have now folded and only the Porlock Group remains.
Page 2
The Exmoor Society Report of the Trustees for the year ended 31 May 2022
Funds and Policies
Funds held by the Charity are either:
Restricted Fund, being funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated Funds, being funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
Unrestricted Funds, being funds that can be used in accordance with the charitable objects at the discretion of the trustees.
It is the policy of the Society to maintain unrestricted funds, which are the free reserves of the charity, at a level that equates to approximately two years of net expenditure on its charitable purposes, but excluding individual grants, and its administrative costs and other overheads. In previous years this has been approximately £20,000 per annum giving a reserve of £40,000.
In addition it has always pursued the objective of carrying sufficient additional reserves to fund the significant costs that might become necessary if the Society ever needed in the view of its Executive Committee to launch any formal or legal action in furtherance of its primary aim set out under the “Objectives and activities” paragraphs below. At present the Society believes that reserves to cover this contingency should be maintained, if possible, at a level of £50,000.
Combining these two purposes, the Society seeks to maintain total reserves at a level of £90,000. Unrestricted funds were maintained at this level throughout the year.
The Executive Committee urges members when renewing their subscriptions to add generously by donation, if they can, and to sign gift aid forms that enable the Society to recover tax on both subscriptions and donations. Additionally, it asks members to recognize the possibility of giving to the Society by bequest.
Investment Policy and Risk Policy
The Society has reviewed its Investment Policy during the year. It continues to keep its long-term funds in equities, invested in Income Units of the Charities Investment Funds. It keeps a tranche of funds likely to be needed in the shorter term, on deposit.
The Committee keeps under regular review the major strategic and operational risks that the Society faces and confirms that adequate procedures and safeguards have been established to address these risks. The Risk Register has been reviewed during the year.
Hitherto these policies have maintained the reserves of the Society at a fluctuating but healthy level and the Committee believes at present that they will continue to do so. The policies are kept under annual review in case circumstances change.
Page 3
The Exmoor Society Report of the Trustees for the year ended 31 May 2022
Objectives and activities
The object of the Society is:
To promote the conservation and protection of Exmoor National Park for the public benefit.
| This will | be achieved by:- |
|---|---|
| a) | protecting, promoting and enhancing its landscape, wildlife and historical environment |
| b) | safeguarding public access and recreation appropriate to the National Park |
| c) | scrutinizing policies which afect Exmoor |
| d) | contributing to the Town & Country planning system, and monitoring its application |
| e) | acting as a resource centre for obtaining & disseminating information |
| f) | recording, studying and publishing information on aspects of Exmoor |
| g) | promoting an understanding of Exmoor |
| h) | encouraging activities benefcial to local communities and the wider public |
The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Society's objectives, planning activities and making awards.
The Chairman, on behalf of the trustees, reports on the Society's year generally in the Annual Report distributed to members prior to the AGM.
Achievements and performance
The major achievements in the current year include the following:-
In association with Exmoor National Park Authority (ENPA), co-sponsored and steered to completion the project “Art in Support of Improved Understanding of the Changing Character of Exmoor National Park”
Made a detailed response to the Government’s consultation on its opinions about recommendations made in the Landscape Review Final Report (Glover Report)
Devised and trialled a template to monitor use and damage in environmentally sensitive Exmoor locations
Held a highly successful Spring Conference on the theme “The Challenge of Change”
Experienced continued growth in the use of the Society’s Archive and Resource Centre, both as a depository for new acquisitions and use by visiting researchers
Updated the Society’s report to ENPA on the impacts of game shooting
In association with ENPA, co-sponsored and steered to completion a scoping project as the basis for further research into Exmoor’s farming heritage.
Page 4
The Exmoor Society Report of the Trustees For the year ended 31 May 2022 Financial Review
Total incoming resources for 2022 amount to £63,670. The income on the general fund of £52,951 is close to expectations apart from shop income which was lower than hoped due to the pandemic restrictions.
The restricted/designated fund income of £10,719 is mainly from bequests & grants. Total resources expended amount To £75,965. General fund expenditure has been well controlled, and after transfers resulted in a surplus of £1,756. Expenditure on Restricted & Designated funds totalled £24,580 and this has mainly been spent on grants & continuing to employ a part time Development Co-ordinator.
The valuation of investments has decreased this year by £1,055, which decreases the net movement of funds on the General Fund To £701
The return on the COIF investments and the deposit accounts have remained stable during the year.
Finally, the trustees are able to confirm that the investments are held in accordance with their powers and that at the year end the Society's financial position was satisfactory with net assets sufficient to meet the Society's obligations.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. (United Kingdom General Accepted Accounting Practice)
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to :
-
1) select suitable accounting policies and then apply them consistently;
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2) observe the methods and principles in the Charities SORP;
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3) make judgments and estimates that are reasonable and prudent;
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4) state whether applicable UK Accounting Standards have been follow, subject to any material disclosures disclosed and explained in the financial statements; and
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5) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Section 132 of the Charities Act 2011 and the Charity (Accounts & reports) Regulations 2008. 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 trustees approve this report and it is signed on their behalf by:
Mrs Rachel Thomas (Chairman) Dr Keith Howe (Vice Chairman) ………………………………………………………… ……………………………………………………… Trustee Trustee Dated: Dated:
Page 5
The Exmoor Society Statement of financial activities For the year ended 31 May 2022
Independent examiner's report to the trustees of The Exmoor Society
I report on the accounts of the Charity for the year ended 31 May 2022, which are set out on Pages 2 – 20
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
-
1) examine the accounts under section 145 of the Charities Act
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2) to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act)
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3) to state whether particular matters have come to me attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required for an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that in any material respect the requirements
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a) to keep accounting records in accordance with section 130 of the Charities Act
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b) to prepare accounts which accord with the accounting needs and comply with the accounting requirements of the Charities Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Helen Mansford FCA FCCA Stevens & Willey Grenville House 9 Boutport St Barnstaple Devon EX31 1TZ
Page 6
The Exmoor Society Statement of financial activities For the year ended 31 May 2022
| The Exmoor Society Statement of fnancial activities For the year ended 31 May 2022 |
|||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Designated | Restricted | Total | Total | |||
| Funds | Funds | Funds | |||||
| Notes | £ | £ | £ | £ | |||
| Incoming resources | |||||||
| Income and endowments from: | |||||||
| Donations and legacies | 3 | 29,648 | 5,000 | 5,100 | 39,748 | 114,543 | |
| Charitable activities | 3 | 9,858 | 619 | 0 | 10,477 | 7,433 | |
| Investment income | 3 | 13,445 | 0 | 0 | 13,445 | 11,388 | |
| ------------ | ----------------- | ------------ | ------------------ | ------------ | |||
| 52,951 | 5,619 | 5,100 | 63,670 | 133,364 | |||
| ------------ | ------------------ | ------------ | ------------ | ------------ | |||
| Resources expended | |||||||
| Raising funds | 6 | 4,535 | 808 | 0 | 5,343 | 2,740 | |
| Charitable activities | 6 | 43,146 | 18,172 | 5,600 | 66,918 | 62,058 | |
| Material items | 0 | 0 | 0 | 0 | 0 | ||
| Other | 6 | 3,704 | 0 | 0 | 3,704 | 5,275 | |
| ------------ | ------------------ | ------------ | ------------ | ------------ | |||
| Total resources expended | 51,385 | 18,980 | 5,600 | 75,965 | 70,073 | ||
| ------------ | ------------------ | ------------ | ------------ | ------------ | |||
| Net incoming/(outgoing) resources | 1,566 | -13,361 | -500 | -12,295 | 63,291 | ||
| Transfers between funds | 190 | -190 | 0 | 0 | 0 | ||
| ------------ | ------------------ | ------------ | ------------ | ------------ | |||
| Net incoming/(outgoing) resources | |||||||
| before other recognized gains and losses | 1,756 | -13,551 | -500 | -12,295 | 63,291 | ||
| Other recognized gains and losses | |||||||
| Losses on Investments | -1,055 | 0 | 0 | -1,055 | 41,480 | ||
| ------------ | ------------------- | ------------ | ------------ | -------------- | |||
| Net movement in funds | 701 | -13,551 | -500 | -13,350 | 104,771 | ||
| Total funds brought forward | 334,362 | 166,960 | 50,646 | 551,968 | 447,197 | ||
| ------------ | ------------------ | ------------ | ------------ | ------------ | |||
| Total funds carried forward | 335,063 | 153,409 | 50,146 | 538,618 | 551,968 | ||
| ------------ | ------------------- | ------------ | ------------ | ------------ |
Page 7
The Exmoor Society Balance Sheet As at 31 May 2022
| The Exmoor Society Balance Sheet As at 31 May 2022 |
|||||
|---|---|---|---|---|---|
| Note | 2022 | 2021 | |||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 14 | 9,827 | 7,683 | ||
| Investments | 15 | 462,986 | 444,041 | ||
| ------------ | ------------ | ||||
| 472,813 | 451,724 | ||||
| Current assets | |||||
| Stocks | 16 | 1,559 | 1,765 | ||
| Debtors | 17 | 4,775 | 4,973 | ||
| Cash at bank and in hand | 19 | 69,953 | 100,204 | ||
| ------------ | ------------ | ||||
| 76,287 | 106,942 | ||||
| Creditors: amounts falling due | |||||
| within one year | 18.1 | -6,227 | -1,970 | ||
| ------------ | ------------ | ||||
| Net current assets | 70,060 | 104,972 | |||
| ------------ | ------------ | ||||
| Total assets less current liabilities | 542,873 | 556,696 | |||
| Accruals and deferred income | 18.2 | -4,255 | -4,728 | ||
| ------------ | ------------ | ||||
| 538,618 | 551,968 | ||||
| ------------ | ------------ | ||||
| Funds | 23 | ||||
| Restricted funds | 50,146 | 50,646 | |||
| ------------ | ------------ | ||||
| 50,146 | 50,646 | ||||
| ------------ | ------------ | ||||
| Unrestricted income funds: | |||||
| Unrestricted income funds | 328,013 | 327,312 | |||
| Designated funds | 153,409 | 166,960 | |||
| Revaluation reserve | 7,050 | 7,050 | |||
| ------------ | ------------ | ||||
| Total unrestricted income funds | 488,472 | 501,322 | |||
| ------------ | ------------ | ||||
| Total Funds | 538,618 | 551,968 | |||
| ------------ | ------------ |
The financial statements were approved by the trustees on 1st August 2022 and signed on their behalf by:
Mrs Rachel Thomas (Chairman) Trustee
Dr Keith Howe (Vice Chairman) Trustee
Page 8
The Exmoor Society Notes to the financial statements For the year ended 31 May 2022
1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historic cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Going concern
There are no concerns regarding the Charity's ability to continue as a going concern
1.3 Changes to accounting policy and accounting estimates There are no changes to report.
1.4 Material prior year errors There are no such errors
- 2 Accounting policies
2.1 Reconciliation with previously generally accepted accounting practice There are no such reconciliations required
2.2 Income
Recognition of income
These are included in the SoFA when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient accuracy.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses.
Grants and donations
These are only included in the SoFA when the criteria above have been met No government grants have been received.
Legacies
Legacies are included in the SoFA when receipt is probable, that is, when there has been a grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal specified otherwise.
Contractual income and performance related grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Page 9
The Exmoor Society
Notes to the financial statements For the year ended 31 May 2022
2.2 (contDonated goods and services
| There are no donated goods for use by the charity, distribution or resale. | |
|---|---|
| There are no donated services or facilities. | |
| The value of time provided by volunteers has not been included in the accounts but has | |
| been referred to in the trustees' annual report. | |
| Support Costs | |
| The charity has incurred expenditure on support costs | |
| Income from interest, royalties and dividends | |
| This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. | |
| Income from membership subscriptions | |
| Membership subscriptions are shown as a separate item in the notes. | |
| Settlement of insurance claims | |
| There are no claims to report | |
| Investment gains and losses | |
| This includes any realized or unrealized gains or losses on the sale of investments and any | |
| gain or loss resulting from revaluing investments to market value at the end of the year. | |
| 2.3 | Expenditure and liabilities |
| Liability recognition | |
| Liabilities are recognized where it is more than likely than not there is a legal or | |
| constructive obligation committing the charity to pay out resources and the amount of | |
| the obligation can be measured with reasonable certainty. | |
| Governance and support costs | |
| Governance and support costs have not been split between activities due to the activities | |
| as the amounts involved are small. | |
| Grants and awards | |
| There are no conditions attached to the grants and awards made as the selection process | |
| ensures all criteria are met. | |
| Redundancy costs | |
| The charity has made no redundancy costs during the year. | |
| Deferred income | |
| No material item of deferred income has been included in the accounts | |
| Creditors | |
| The charity has creditors which are measured at settlement amounts less any trade | |
| discounts | |
| Provisions for liabilities and basic fnancial instruments | |
| There are no items of this nature in the accounts | |
| 2.4 | Assets |
| Tangible fxed assets for use by charity | |
| These are capitalized if they can be used for more than one year and cost at least £750 (previously £1,000) | |
| Fixed assets are depreciated over their useful life as follows: | |
| Premises costs - straight line over the initial term of the lease | |
| Computer equipment - 4 years straight line | |
| Reference library - no depreciation as the value of the books is likely to appreciate due to their rarity | |
| The archiving project has meant that the books and documents are now fully recorded and kept in very good condition. | |
| Intangible fxed assets and heritage assets | |
| The charity has no intangible or heritage fxed assets | |
| Investments | |
| Fixed asset investments held with COIF are valued initially at cost and subsequently at fair | |
| value (open market value) at the year end | |
| The charity has no unlisted investments or investments held for resale |
Page 10
The Exmoor Society Notes to the financial statements For the year ended 31 May 2022
2.4 (cont)Stock and work in progress
Stocks held for sale are measured at the lower of cost or net realizable value. There is no work in progress. Debtors
Debtors are measured on initial recognition at settlement amount after any trade discount or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received
Current asset investments
The charity has no investments of this nature.
3 Analysis of income
| Analysis of income | |||||
|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total Funds | Total Funds | |
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Donations and Legacies | |||||
| Gift Aid | 3,605 | 0 | 0 | 3,605 | 3,433 |
| Legacies | 0 | 5,000 | 0 | 5,000 | 78,101 |
| Grants | 0 | 0 | 5,000 | 5,000 | 5,000 |
| Membership subscriptions | 22,209 | 0 | 0 | 22,209 | 22,625 |
| Life membership | 0 | 0 | 0 | 0 | 0 |
| Donations | 3,834 | 0 | 100 | 3,934 | 5,384 |
| ------------ | ------------------- | ------------ | ------------ | ------------ | |
| 29,648 | 5,000 | 5,100 | 39,748 | 114,543 | |
| ------------ | ------------------- | ------------ | ------------ | ------------ |
The following bequests have been received in the current year (2021 £78,101):-
£
Sir Antony Acland 5,000
| Unrestricted | Designated | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| 2 | |||||
| £ | £ | £ | £ | £ | |
| Charitable activities | |||||
| Sales and income generated | 8,192 | 619 | 0 | 8,811 | 7,433 |
| Surplus from events | 1,666 | 0 | 0 | 1,666 | 0 |
| ------------ | ------------------ | ------------ | ------------ | ------------ | |
| 9,858 | 619 | 0 | 10,477 | 7,433 | |
| ------------ | ------------------ | ------------ | ------------ | ------------ | |
| Income from investments | |||||
| Dividends from COIF shares | 13,417 | 0 | 0 | 13,417 | 11,368 |
| Bank interest receivable | 17 | 0 | 0 | 17 | 6 |
| Interest-COIF deposit | 11 | 0 | 0 | 11 | 14 |
| ------------ | ------------------- | ------------ | ------------ | ------------ | |
| 13,445 | 0 | 0 | 13,445 | 11,388 | |
| ------------ | ------------------ | ------------ | ------------ | ------------ |
Page 11
The Exmoor Society
Notes to the financial statements For the year ended 31 May 2022
3 (cont) Other information
All income in 2021-22 was unrestricted except:- £ Grant to Pinnacle award 5,000 Donations to other awards 100
4 Government grants
No government grants have been received.
- 5 Donated goods, facilities & services See note 2.2 – page 10
6 Analysis of expenditure
| Analysis of expenditure | Unrestricted | Designated | Restricted | Total | Total |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Expenditure on raising funds | |||||
| Trading expenditure | 4,280 | 0 | 0 | 4,280 | 2,112 |
| Advertising and promotion | 255 | 808 | 0 | 1,063 | 628 |
| ------------ | ------------------ | ------------ | ------------ | ------------ | |
| 4,535 | 808 | 0 | 5,343 | 2,740 | |
| ------------ | ------------------- | ------------ | ------------ | ------------ | |
| Unrestricted | Designated | Restricted | Total | Total | |
| Funds | Funds | Funds | 2022 | 2021 | |
| Expenditure on | £ | £ | £ | £ | £ |
| charitable activities | |||||
| Grants and awards | 0 | 13700 | 5,600 | 19,300 | 10,749 |
| Subscriptions | 1,212 | 0 | 0 | 1,212 | 1,201 |
| Staf Costs | 24,762 | 4472 | 0 | 29,234 | 29,576 |
| Ofce costs | 8,911 | 0 | 0 | 8,911 | 9,387 |
| Exmoor Review | 7,298 | 0 | 0 | 7,298 | 6,907 |
| Webinars | 0 | 0 | 0 | 0 | 68 |
| Competitions | 100 | 0 | 0 | 100 | 0 |
| Books | 0 | 0 | 0 | 0 | 2,989 |
| Newsletter and report | 863 | 0 | 0 | 863 | 1,181 |
| ------------ | ------------------- | ------------ | ------------ | ------------ | |
| 43,146 | 18,172 | 5,600 | 66,918 | 62,058 | |
| ------------ | ------------------- | ------------ | ------------ | ------------ | |
| Other expenditure | |||||
| IT Fund | 0 | 0 | 0 | 0 | 0 |
| Car parking etc. | 34 | 0 | 0 | 34 | 128 |
| Accountancy | 480 | 0 | 0 | 480 | 500 |
| Legal Fees re lease renegotiation | 3,000 | 3,000 | 0 | ||
| Depreciation | 190 | 0 | 0 | 190 | 4,647 |
| ------------ | ------------------ | ------------ | ------------ | ------------ | |
| 3,704 | 0 | 0 | 3,704 | 5,275 | |
| ------------ | ------------------ | ------------ | ------------ | ------------ |
Page 12
The Exmoor Society Notes to the financial statements For the year ended 31 May 2022
6 (cont) Analysis of expenditure on charitable activities
Activities undertaken directly
| Activities undertaken directly | ||||
|---|---|---|---|---|
| Grant funding | Support | Total | Total | |
| of activities | Costs | 2022 | 2021 | |
| Grants and awards | 19,400 | 0 | 19,400 | 10,749 |
| Subscriptions | 1,212 | 0 | 1,212 | 1,201 |
| Publications | 8,161 | 0 | 8,161 | 11,145 |
| Development Fund | 4,472 | 0 | 4,472 | 3,121 |
| Establishment costs | 0 | 33,673 | 33,673 | 35,842 |
| ------------ | ------------ | ------------ | ------------ | |
| 33,245 | 33,673 | 66,918 | 62,058 | |
| ------------ | ------------ | ------------ | ------------ |
7 Extraordinary items
A reserve of £3,000 has been made for legal fees with regard to the ongoing renegotiation of the terms of the lease.
8 Funds received as agent
There are no funds received as agent
| 9 | Support Costs | 2022 | 2021 |
|---|---|---|---|
| Staf costs | 24,762 | 26,455 | |
| Printing, postage and stationery | 2,272 | 2,744 | |
| Computer and website costs | 1,808 | 1,821 | |
| Telephone | 497 | 1,066 | |
| Insurance | 778 | 806 | |
| Rates and water | 411 | 172 | |
| Heat and light | 1,685 | 1,294 | |
| Cleaning and repairs | 1,203 | 1,274 | |
| Bank charges | 257 | 210 | |
| ------------ | ------------ | ||
| 33,673 | 35,842 | ||
| ------------ | ------------ | ||
| 10 | Details of certain types of expenditure | ||
| 10.1 | Fees for examination of accounts | ||
| 2022 | 2021 | ||
| Independent examiners | 480 | 500 | |
| 11 | Paid employees | ||
| 11.1 | Staf Costs | ||
| Salaries and wages | 29,234 | 29,576 | |
| Social security costs | 0 | 0 | |
| Pension costs | 0 | 0 | |
| ------------ | ------------ | ||
| 29,234 | 29,576 | ||
| ------------ | ------------ |
No employees received employee benefits for the year of more than £60,000
Page 13
The Exmoor Society
Notes to the financial statements
For the year ended 31 May 2022
| r the | year ended 31 May 2022 | ||
|---|---|---|---|
| 2022 | 2021 | ||
| 11.2 | Average head count in the year | ||
| Ofce staf | 2 | 2 | |
| Development Co-ordinator | 1 | 1 |
12 Pension costs
The Society started to participate in the NEST pension scheme from 1 April 2017. There are no employees currently enrolled in the scheme
13 Grant making
Grants paid out do not form a material part of the charity's activities
14 Tangible fixed assets
| 14 | Tangible fxed assets | |||||
|---|---|---|---|---|---|---|
| Costs of move | Computer | Reference | Total | |||
| To | 34 High St | Equipment | library | |||
| 14.1 | Cost | |||||
| As at 1 June 2021 | 24,340 | 6,940 | 7,300 | 38,580 | ||
| Additions | 0 | 2,334 | 0 | 2,334 | ||
| Disposals | 0 | 0 | 0 | 0 | ||
| ------------ | ------------ | ------------ | ------------ | |||
| As at 31 May 2022 | 24,340 | 9,274 | 7,300 | 40,914 | ||
| ------------ | ------------ | ------------ | ------------ | |||
| 14.2 | Depreciation | |||||
| As at 1 June 2021 | 24,339 | 6,558 | 0 | 30,897 | ||
| Disposals | 0 | 0 | 0 | 0 | ||
| Charge for year | 0 | 190 | 0 | 190 | ||
| ------------ | ------------ | ------------ | ------------ | |||
| As at 31 May 2022 | 24,339 | 6,748 | 0 | 31,087 | ||
| ------------ | ------------ | ------------ | ------------ | |||
| 14.3 | Net Book Value | |||||
| ------------ | ------------ | ------------ | ------------ | |||
| As at 31 May 2021 | 1 | 382 | 7,300 | 7,683 | ||
| ------------ | ------------ | ------------ | ------------ | |||
| ------------ | ------------ | ------------ | ------------ | |||
| As at 31 May 2022 | 1 | 2,526 | 7,300 | 9,827 | ||
| ------------ | ------------ | ------------ | ------------ |
14.4 Impairment
There are no impairment losses
14.5 Revaluations
During 2010 the reference library was revalued by Mr RM Young, a specialist bookseller, at an approximation of market value of £7,300, based upon his intensive experience in the book selling trade. The original cost of this library was only £250 due to a large proportion of it being donated to the Society. In past years additional books and works of art have been donated to the Society. The trustees have not carried out any revaluation since 2010
Page 14
The Exmoor Society Notes to the financial statements For the year ended 31 May 2022
| 15 | Investment assets | ||
|---|---|---|---|
| 15.1 | Fixed asset investments | Listed | |
| Investments | |||
| Value at 1.6.2021 | 444,041 | ||
| Additions during the year | 20,000 | ||
| Revaluations | -1,055 | ||
| ------------ | |||
| Value at 31.5.2022 | 462,986 | ||
| ------------ | |||
| Historical Cost at 31.5.2022 | 269,243 | ||
| ------------ | |||
| 16 | Stock | 2022 | 2021 |
| The charity holds a small amount of stock of goods for sale. | |||
| 1,559 | 1,765 | ||
| 17 | Debtors and prepayments | ||
| Other debtors | 3,605 | 3,433 | |
| Prepayments | 1,170 | 1,540 | |
| ------------ | ------------ | ||
| 4,775 | 4,973 | ||
| ------------ | ------------ | ||
| 18 | Creditors and accruals | ||
| 18.1 | Analysis of creditors | ||
| Other creditors | 1,238 | 890 | |
| Income in advance | 0 | 0 | |
| Taxation and social security | 1,226 | 367 | |
| Accruals | 3,763 | 713 | |
| ------------ | ------------ | ||
| 6,227 | 1,970 | ||
| ------------ | ------------ | ||
| 18.2 | Deferred income | ||
| As at 1.6.2021 | 4,728 | 5,253 | |
| Increase in year | 0 | 0 | |
| Released in year | -473 | -525 | |
| ------------ | ------------ | ||
| 4,255 | 4,728 | ||
| ------------ | ------------ |
Deferred income is in respect of life memberships. Life memberships purchased in the year are taken to deferred income. The income is then released over an estimate of the lifetime, based on a 10% charge per year on a reducing balance basis.
Page 15
The Exmoor Society
Notes to the financial statements For the year ended 31 May 2022
| oor Society the fnancial statements ear ended 31 May 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| Cash at bank and in hand | ||
| COIF deposit account | 13,100 | 13,100 |
| Bank deposit account | 52,172 | 42,881 |
| Bank current account | 225 | 200 |
| Paypal account | 4,356 | 470 |
| Cash in hand | 100 | 43,553 |
| ------------ | ------------ | |
| 69,953 | 100,204 | |
| ------------ | ------------ |
19 Cash at bank and in hand
20 Fair value of assets and liabilities
Credit risk
The Exmoor Society has a very low level of debtors, as such credit risk from default of an individual debtor is minimal
Liquidity Risk
The Exmoor Society holds sufficient short term cash funds to cover any short term funding needs, hence minimising liquidity risk
Market Risk
The Exmoor Society trustees monitor the performance of the investments on a regular basis at the bi-monthly meetings. These investments are considered to be medium to long term investments, hence any short term losses should be recovered over time. In addition to this, the funds held on deposit are sufficient to allow any short term losses to reverse in later accounting periods.
21 Events after the end of the reporting period
There are no material events to record
22 Transactions with trustees and related parties
22.1 Trustee remunerations and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity
22.2 Trustees' expenses
No trustee expenses have been incurred in 2021 or 2022
22.3 Transactions with related parties
There have been no related party transactions in the reporting period.
Page 16
The Exmoor Society Notes to the financial statements For the year to 31 May 2022
| 23 | Charity funds | ||||||
|---|---|---|---|---|---|---|---|
| As at | Incoming | Outgoing | Transfers | Gains & | As at | ||
| 01.06.2021 | resources | resources | losses | 31.05.2022 | |||
| 23.1 | Unrestricted fund – current year | ||||||
| Unrestricted fund | 244,362 | 52,951 | -51,385 | 190 | -1,055 | 245,063 | |
| General designated fund | 90,000 | 0 | 0 | 0 | 0 | 90,000 | |
| Designated funds (Note 23.3) | 166,960 | 5,619 | -18,980 | -190 | 0 | 153,409 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 501,322 | 58,570 | -70,365 | 0 | -1,055 | 488,472 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 23.2 | Restricted funds – current year | ||||||
| Conservation fund | 293 | 0 | 0 | 0 | 0 | 293 | |
| Literary award | 1,448 | 0 | 0 | 0 | 0 | 1,448 | |
| Windfarm appeal | 582 | 0 | 0 | 0 | 0 | 582 | |
| Founders award | 19 | 100 | -100 | 0 | 0 | 19 | |
| Education fund | 385 | 0 | 0 | 0 | 0 | 385 | |
| Pinnacle award | 5,612 | 5,000 | -5,000 | 0 | 0 | 5,612 | |
| Malcolm MacEwen Fund | 10,307 | 0 | -500 | 0 | 0 | 9,807 | |
| Premises Fund | 20,000 | 0 | 0 | 0 | 0 | 20,000 | |
| Campaign Fund | 12,000 | 0 | 0 | 0 | 0 | 12,000 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 50,646 | 5,100 | -5,600 | 0 | 0 | 50,146 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 23.3 | Designated funds – current year | ||||||
| Woodland conservation | 139 | 0 | 0 | 0 | 0 | 139 | |
| Education fund | 8,616 | 0 | 0 | 0 | 0 | 8,616 | |
| I T fund | 15,730 | 0 | 0 | -190 | 0 | 15,540 | |
| Resource Centre Fund | 2,905 | 607 | 0 | 0 | 0 | 3,512 | |
| Competition Fund | 273 | 12 | -2 | 0 | 0 | 283 | |
| Publications | 4,358 | 0 | 0 | 0 | 0 | 4,358 | |
| Campaign fund | 104,811 | 5,000 | -13,700 | 0 | 0 | 96,111 | |
| Development Fund | 29,467 | 0 | -5,278 | 0 | 0 | 24,189 | |
| New Property fund | 661 | 0 | 0 | 0 | 0 | 661 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 166,960 | 5,619 | -18,980 | -190 | 0 | 153,409 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ |
Page 17
The Exmoor Society
Notes to the financial statements For the year to 31 May 2022
| As at | Incoming | Outgoing | Transfers | Gains & | As at | ||
|---|---|---|---|---|---|---|---|
| 01.06.2020 | resources | resources | losses | 31.05.2021 | |||
| 23.4 | Unrestricted fund-previous year | ||||||
| Unrestricted fund | 202,547 | 48,143 | -52,455 | 4,647 | 41,480 | 244,362 | |
| General designated fund | 90,000 | 0 | 0 | 0 | 0 | 90,000 | |
| Designated funds (Note 23.6) | 123,505 | 60,121 | -12,019 | -4,647 | 0 | 166,960 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 416,052 | 108,264 | -64,474 | 0 | 41,480 | 501,322 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 23.5 | Restricted funds – previous year | ||||||
| 302 | 0 | -9 | 0 | 0 | 293 | ||
| Literary award | 1,448 | 0 | 0 | 0 | 0 | 1,448 | |
| Windfarm appeal | 582 | 0 | 0 | 0 | 0 | 582 | |
| Founders award | 9 | 100 | -90 | 0 | 0 | 19 | |
| Education fund | 385 | 0 | 0 | 0 | 0 | 385 | |
| Pinnacle award | 5,612 | 5,000 | -5,000 | 0 | 0 | 5,612 | |
| Malcolm MacEwen Fund | 10,807 | 0 | -500 | 0 | 0 | 10,307 | |
| Premises Fund | 0 | 20,000 | 0 | 0 | 0 | 20,000 | |
| Campaign Fund | 12,000 | 0 | 0 | 0 | 0 | 12,000 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 31,145 | 25,100 | -5,599 | 0 | 0 | 50,646 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 23.6 | Designated funds – previous year | ||||||
| Woodland Conservation | 139 | 0 | 0 | 0 | 0 | 139 | |
| Education fund | 8,616 | 0 | 0 | 0 | 0 | 8,616 | |
| I T fund | 6,900 | 10,000 | 0 | -1,170 | 0 | 15,730 | |
| Resource Centre Fund | 2,789 | 149 | -33 | 0 | 0 | 2,905 | |
| Publications Fund | 6,798 | 549 | -2,989 | 0 | 0 | 4,358 | |
| Competition Fund | 286 | 137 | -150 | 0 | 0 | 273 | |
| Campaign fund | 85,525 | 24,286 | -5,000 | 0 | 0 | 104,811 | |
| Development Fund | 8,314 | 25,000 | -3,847 | 0 | 0 | 29,467 | |
| New Property fund | 4,138 | 0 | 0 | -3,477 | 0 | 661 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 123,505 | 60,121 | -12,019 | -4,647 | 0 | 166,960 | ||
| ------------ | ------------ | ------------ | ------------ | ------------ | ------------ |
Page 18
The Exmoor Society Notes to the financial statements For the year to 31 May 2022
23.7 Purpose of Funds Restricted Funds:
Conservation fund To make an annual award to people who have, in the opinion of the trustees, contributed significantly to the conservation of Exmoor
Literary award
In the name of Lucy Perry this is to offer awards, to young people between the ages of 8 and 14 years, for a piece of poetry or prose inspired by Exmoor – its landscape, fauna, flora or cultural heritage and people's enjoyment of it. It is hope that the poetry or prose can form part of the school curriculum requirements. Windfarm appeal
To research the effect of wind turbines upon the Exmoor environment and campaign to stop the building of large wind farms within the confines of Exmoor and its setting. Founders award
To make an award to help the charity in its promotion of Exmoor Pinnacle award
To support business opportunities for young people.
Moorland report update To commission an update on the 2004 report - “Moorland at the Crossroads”. The fund is now closed. Malcolm MacEwen fund To use the amount transferred on the merger of the two charities for Malcolm MacEwen Trust's original aims, which were the advancement of education through the provision of grants to help support the costs of research projects on topics relevant to the conservation of Exmoor National Park and its special qualities Restricted and Designated Funds: Education fund To enhance environmental education for schools on Exmoor and beyond. To encourage schools to visit Exmoor and allow them to participate in a wide variety of activities/ Generally to encourage a better understanding of conservation and Exmoor National Park. Campaign fund To set up a fund to enable the Society to embark on initiatives relating to its objectives. Premises Fund To use solely for premises expenditure Designated Funds: Publications fund To fund further Studies and other publications. Woodland conservation To promote the conservation of the Exmoor woodland area. I T fund To update and make more accessible the Society's IT equipment. Resource Centre Fund
To use the money received from the sale of materials which are not relevant to the Society in order to buy books that are currently lacking in the library. Competition Fund To enable the Society to provide prizes for specific competitions/ New Property fund To enable the Society to achieve its aims and operate efficiently from the new premises the trustees have transferred this sum from the unrestricted income funds.
Development Fund
To promote the aims and objectives of the Society.
Page 19
The Exmoor Society Notes to the financial statements For the year ended 31 May 2022
24 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity.
No trustee expenses have been incurred.
There have been no related party transactions in the reporting period.
Page 20