DOWDESWELL CONSERVATION LIMITED
(A Company Limited by Guarantee)
TRUSTEES, REPORT AND ACCOUNTS
30 November 2024
Company no: 09318821
Charlty no: 1160969

CONTENTS
Page
TRUSTEES, REPORT
INDEPENDENT EXAMINER'S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE ACCOUNTS
10-15

DOWDESWELL CONSERVATION LIMITED
TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT)
CURRENT LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J M Dunkerton
W E A Edwards
R O B Cooper- resigned 31 March 2024
Charity number
1160969
Company number
09318821
Registered Office
Dowdeswell Park
London Road
Cheltenham
GL52 6UT
Accountants
Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
Bankern
HSBC PIC
8, Cork Street
London
W1S 3LJ
Woodland Stewardship
Greenleaf Forestry Ltd
12, Challoner Court
Bristol
BS14RG

DOWDESWELL CONSERVATION LIMITED
TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT
The trustees present their report and accounts for the year ended 30 November 2024.
The company was incorporated on 19 November 2014.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to
the accounts and comply with the charity's Trust Deed, the Companies Act 2006 and the
Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in
October 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a private company limited by guarantee and governed by its Memorandum &
Articles,
Dowdeswell Conservation Limited exchanged contracts with Severn Trent Limited on 6
February 2015 to purchase Dowdeswell Wood. Dowdeswell Wood comprises substantial
mature and maturing woodland and is home to many protected species of wildlife such as the
white clawed crayfish (protected on Schedule 5 of the Wildlife and Countryside Act 1981 } and
dormice. The site has special conservation value and was previously leased to the
Gloucestershire Wildlife Trust and the Cotswold Way, a 102-mile designated national trail that
runs adjacent to rt.
A condition of the sale is that the sÉte be managed in accordance with an approved
Management Plan (the Management Plan). A ten-year Management Plan for the period 2021
to 2031 was approved in March 2021 by the Forestry Commission.
The Management Plan recommends that the charity perform various activities, including but
not limited to the control of non-native animal populations, removal of diseased ash trees,
upgrading of access ways and tracks, felling of conifers, general thinning oftrees and woodland
management and protection of dormice. bats and white clawed crayfish, facilitation of public
access, upgrading of walkways, signage, regeneration of the network of footpaths.
The trustees. who are also the directors for the purpose of company law, and who served
during the period were..
Mr R O B Cooper {Chairman) - resigned 31 March 2024
Mr J M Dunkerton
Ms W E A Edwards (Interim Chairman after 31 March 2024)
During the period of reporting one formal Trustee meeting was held, with a number of other
informal meetings as required to ensure that the needs of the charity were addressed.
Trustees are elected by the members of Dowdeswell Conservation Limited at the Annual
General Meeting. Should a vacancy occur during the year individuals may be invited by the
Board of Trustees to serve as a Trustee until the next Annual General Meeting when they may
stand for formal election. It is the policy of Dowdeswell Conservation Limited that all Trustees
have a full induction and receive appropriate training.
The trustees have assessed the major risks to which the charity is exposed and are satisfied
that systems are in place to mitigate exposure to the major risks, and this is reviewed on an
on-going basis.

DOWDESWELL CONSERVATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) Icontinued)
OBJECTIVES AND ACTIVITIES
The charity's objectives were last reviewed in 2020, and submitted to the charity commission
for approval, which was given on 9 July 2020, with formal adoption by the trustees on 24 July
2020. The charity's objects are restricted to=
'For the Public Benefit, tl7e preservation of woodland through the purchase and thereafter
environmental and ecological conservation of it providing for managed access to the relevant
land :_
for educational purposes by special interest groups,.
for educational purposes by educational establishments," and
for the general public for recreation through the use of permissive paths.,
The woodland is within close proximity to a dense population area and its aim is to remain open
to the public for recreational use subject to appropriate assessments of risk. The company has,
since the purchase of the woods, commenced the task of undertaking the following.. way
markers. clearing of pathways, access to the woods for school visits, and other educational
purposes, extensive thinning works to address ash die-back. Entrances have been improved
and carefully designed to allow for on foot public.
Mr J M Dunkerton, a trustee, made a
donation through the Charities Aid Foundation (CAF) for the purchasé of the woodland.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding
what activities the charity should undertake in respe￿ of public benefit.
ACHIEVEMENTS AND PERFORMANCE
During the year, further progress has been made with accelerating progress towards the
achievement of the charitable objectives. Some of the achievements are as follows..
Ongoing consultation with the Environment Agency (EA) to work together on ecological
projects. This included a workshop with the EA in September 2024 to scope out a draft
strategy for the charity and the EA for the next 20-year period. A draft plan was considered
by the Trustees in 2025.
Rhododendron clearance works has been ongoing by physical means to avoid the use of
chemicals.
Completion of annual tree survey remedial works and walking routes.
Installation of green route waymarkers.
Submission of Forestry CommissionlRPA Grant AC1 to assist with the financing of the
parking area and the raised walkway.
British Bryological Society - C. Halpin undertaking ongoing bryophyte surveys.
Gloucestershire Raptor Monitoring A. Fields (licence holder for schedule 1 Disturbance
Permit for ringing & nesl recording 2023). Goshawk chicks continue to be monitored and
tagged to ensure successful nesting on an ongoing basis.
Bristol University Arisha Fancy completed her Research Project on 'Key Drivers of tufa
formation at Dowdeswell Wood, and has shared her research paper with the charity.

DOWDESWELL CONSERVATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (Continued)
ACHIEVEMENTS AND PERFORMANCE (Continued)
Noticeboards installed at key entrance points to the woods are updated with a map setting out
walking routes and flora and fauna to look out for.
The successful receipt of charitable funding to enable the charity to meet its charitable
objectives (as set out above), thanks to the expertise of Green Leaf Forestry Ltd.
Continuation of control of squirrel population in accordance with the management plan
approved by The Forestry Commission.
In accordance with good governance a review of the composition of the board of trustees
is ongoing and the identification of potential new trustees continues to ensure succession
planning is addressed in a timely manner. This review has been led by the Chairman, with
due consideration being given to ensuring the right mix of skills and expertise is achieved.
POST YEAR END ACTIVITY
Since the year end the following events have occurred..
On going monitoring of Goshawks to ensure undisturbed during key breeding season.,
Planning permission was granted for a car park to improve the access to and from the woods
for members of the public. Discussions with Gloucestershire Highways and the police have
taken place to ensure that road safety aspects are factored into the access and excess routes
into and from the car park onto a busy A40 highway.
The EA presented a draft strategy report for consultation and will meet with the Trustees to
discuss before the year-end.
RISK AND INSURANCE
With the increased level of forestry activity in addition to the increased footfall the trustees
review the level of cover on an ongoing basis to ensure that it reflects the changing risk profile,
As stated above, a further review of insurance cover has been undertaken and additional cover
was put in place.
FORWARD LOOKING FELLING PLAN
With the expertise of Greenleaf Forestry Ltd to manage the woodland stewardship, there is
now a forward-looking felling plan for 202512026. This proactive approach assists with financial
planning and also ensures accelerated progress with the achievement of the charitable
objectives. The expertise of Greenleaf Forestry Ltd continues to be used to identify and secure
suitable sources of funding for the charity.

DOWDESWELL CONSERVATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (Continued)
FINANCIAL REVIEW
During the year of reporting. the trust received no donations from any individual £Nil (£100,000
for 2023). but received grants from Countryside Stewardship of £10,022 (£78,255 for 2023)
and revenue from timber sales was £75,252 (£111,967 for 2023), resulting in total income of
£85,274 (£290,222 for 2023).
It is the policy of the charity that unrestricted funds which have not been designated for a
specific use should be maintained at a level equivalent to between three and six months,
expenditure. The trustees consider that reserves at this level will ensure that, in the event of a
significant drop in funding, they will be able to continue the charity's current activities while
consideration is given to ways in which additional funds may be raised. At the year end, the
total reserves held by the Charity were £1.077,977 (2023: £1.096,445), of which £1,077,977
(2023: £1,096,445) were unrestricted and £Nil were restricted (2023.. £Nil). The free resepies
of the Charity at the year end were £61,775 (2023.. £80,243).
Dowdeswell Conservation (Trading) Limited Co. No. 13785122, a wholly owned subsidiary
of Dowdeswell Conservation Limited was incorporated on 6 December 2021 to support the
capital investment phase of the charity. This enabled the charity to reclaim VAT on the
expenses incurred with the improvements made lo the woodland infrastructure. With the
completion of this phase of works there is no longer a requirement for this subsidiary and so
all income and expenditure are reported through Dowdeswell Conservation Limited. The
subsidiary is now dormant.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees, who are also the directors of Dowdeswell Conservation Limited for the purpose
of company law, are responsible for preparing the Directors, Report and the accounts in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a
true and fair view of the state of affairs of the charity and of the incoming resources and
application of resources, including the income and expenditure, of the charitable company for
that period.
In preparing these accounts, the trustees are required to-
select suitable accounting policies and then apply them consistenlly-
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent", and
prepare the accounts on the going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and enable them to ensure
that the accounts comply with the Companies Act 2006. 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 truslees are also responsible for ensuring
that the assets are properly applied in accordance with charity law.

DOWDESWELL CONSERVATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (Contlnued)
This report has been prepared in accordance with the special provision5 of Part 15 of the
Companies Act 2006 relating to smal5 entities.
Appro
on behalf of the board of trustees on
W E A Edwards
Trustee

DOWDESWELL CONSERVATION LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
DOWDESWELL CONSERVATION LIMITED
I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the
year ended 30 November 2024.
Respective responsibilities of Truste8s of the Charity and examiner
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 ("the Act.).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination, I have followed all the applicable Directions given by
the Charity Commission under sectson 145{5)(b) of the Act.
Independent examiners, statement
I have Completed my examination. I confirm that no material matters have come to my attention in
connection with the examination which gives me cause to believe that in, any material respect..
the accounting records were not kept in accordance with section 130 of the Charities Act., or
the accounts did not accord with the accounting records., or
the accounts did not comply with the applicable requirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair, view which is not a matter considered as part
of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Date.. 2810812025
Fellclty Sang
Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 OUX

DOWDESWELL CONSERVATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND
EXPENDITURE ACCOUNT)
for the year ended 30 November 2024
2024
Total
Funds
2023
Total
Funds
Restricted Unrestricted
Funds
Funds
Note
Income and endowments from
Donations and legacies
Charitable activities
100,000
78,255
10,022
10,022
Other income
Sale of timber
75,252
75,252
111,967
TOTAL INCOME
85,274
85,274
290,222
Expendlture on
Raislng funds..
Advertising
165
Charltable actlvltles..
Activities in furtherance of
charitable objects
103,742
103,742
358,368
TOTAL EXPENDITURE
103,742
103,742
358,533
NET LOSSES FOR THE YEAR
BEFORE TAX
(18,468)
(18,468)
(68,311)
Tax payable
NET LOSSES FOR THE YEAR
{18,468)
(18,468)
(68,311)
Fund balance brought forward at
beginning of year
1,096,445
1,096,445
1,164,758
FUND BALANCE CARRIED
FORWARD AT END OF YEAR
1,077,977
1,077,977
1,096,445
All activities of the company are continuing activities., there were no acquisitions in the year.
There were no recognised gains or losses other than the surplus for the year shown above.

DOWDESWELL CONSERVATION LIMITED
Company number.. 09318821
Charlty number: 1160969
BALANCE SHEET
30 November 2024
2024
2023
Note
FIXED ASSETS
Tangible assets
Investments
1,016,201
1,016,201
1.016,202
1,016,202
CURRENT ASSETS
Debtors
Cash at bank and in hand
10
11.831
58,777
141,377
847
70.608
142,224
CREDITORS
due within one year
11
(8,833)
(61,981)
NET CURRENT ASSETS
61,775
80,243
TOTAL ASSETS LESS CURRENT LIABILITIES
1,077,977
1.096,445
REPRESENTED BY:
Unrestricted funds
Restricted funds
16
16
1,077,977
1,096,445
Total funds
1,077,977
1,096,445
The company was entitled lo exemption from audit under Section 477 of the Companies Act 2006
relating to small companies.
The members have not required the company lo obtain an audit in accordance with Section 476 of
the Companies Act 2006.
The directors acknowledge their responsibilities for complylng with the requirements of the
Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provision5 applicable to small
companies subject to the small companies, regime and in accordance with FRS 102 SORP.
Appfov
by the board for issue on...-
W E A Edwards, Trustee

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
GENERAL INFORMATION
The company is a private company limited by guarantee, incorporated in England and Wales,
and consequently does not have share capital. Each of the members is liable to contribute
an amount not exceeding £10 towards the assets of the company in the event of liquidation.
The address of its registered office is..
Dowdeswell Park
London Road
Cheltenham
GL52 6UT
ACCOUNTING POLICIES
Basls of preparatlon
The accounts have been prepared under the historical cost convention.
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 the Republic of Ireland (FRS 102)
effective 1 January 2019, and with the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 102), and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Incoming Resource8
Income comprised of donations from the trustees is recognised on receipt.
Investment income is included in the year in which it is receivable.
Other income relates to sales of timber and is recognised net of VAT once the amount of
revenue can be reliably measured and it is probable that future economic benefits will flow to
the entity.
Re3our¢es Expended
Resources expended are recognised in the period in which the goods or services are
incurred. Resources expensed include attributable VAT which is not recoverable.
Expenditure on raising funds comprised the costs associated with attracting voluntary income
in the form of charitable donations through Charities Aid Foundation.
Expenditure on charitable activities comprised the costs incurred by the charity in the delivery
of its activities for its beneficiaries.
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost less estimated residual value
of each asset over its expected useful life, as follows..
Freehold land is not depreciated.
-10-

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
ACCOUNTING POLICIES (Continued)
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be
measured reliably are measure at cost less impairment. Dividends on equity securities are
recognised as income when receivable.
Liabilities
Liabilities are recognised where it is more likely than not that 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 ￿rtainty.
Accumulated funds
Unrestricted funds are funds available for use at the discretion of the trustees in furtherance
of the general objects of the charity.
Golng concern
The Trustees have considered the future of the Charity and its ability to continue, and
consider that there is no material Un￿rtaInty about the charity's ability to continue.
DONATIONS AND LEGACIES
2024
2023
Donations
Gift Aid
80,000
20,000
100,000
In 2023, all income from donations and legacies was unrestricted.
CHARITABLE ACTIVITIES
2024
2023
Countryside Stewardship- woodland improvement
Countryside Stewardship- capital claim
10,022
8,034
70,221
10,022
78,255
In 2024, all income from charitable activities was unrestricted.
In 2023, £70,221 of income from charitsble activities was restricted. The remaining £8,034
was unrestricted.
-11-

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
TOTAL RESOURCES EXPENDED
2024
2023
Activities in furtherance of charltable objects."
Insurance
Repairs and maintenance
Log felling
Legal expenses
Consulting
IT sofhvare and consumables
Telephone & Internet
Travel expenses
Bank fees
Bad debts written off
Loan written off
Costs of genoratlng funds..
Advertising
Support costs."
Accountsncy and bookkeeping fees
3,882
29,095
41,421
2,400
20,340
821
23
868
4,059
229,606
59,664
3,242
50,290
398
2,425
2,030
52
3.810
2,246
165
2,646
2,792
103,742
358,533
In 2024, all expenditure was from unrestricted funds.
In 2023, £71,361 of expenditure was from restricted funds. The remaining £287,172 was from
unrestricted funds.
TAXATION
The company does not trade for profit, therefore no corporation tax liability arises on its
results.
INDEPENDENT EXAMINER REMUNERATION
2024
2023
Fee for independent examination
Accountancy services
1,924
722
1,740
1,052
2,646
2,792
-12-

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
TANGIBLE FIXED ASSETS
Land and
buildings
Cost and net book value
At 1 December 2023 and 30 November 2024
1,016,201
INVESTMENT IN SUBSIDIARY
Balan￿ as at 1 December 2023 and 30 November 2024
On 6 December 2021, Dowdeswell Conservation (Trading) Limited was incorporated. It is a
1000/0 subsidiary of Dowdeswell Conservation Limited, its year end is 30 November, and its
principal activity was supporting services to forestry, which ceased during the year.
In the year to 30 November 2024. Dowdeswell Conservation (Trading) Limited made a profit
of £1,607 (2023.. £19,207) and its capital and reserves held at 30 November 2024 totalled
£Nil (2023.. (£1,607)).
10
DEBTORS
2024
2023
Prepayments
Trade debtors
Accrued income
VAT debtor
805
1,673
9,353
141
24,365
80,703
36,168
11,831
141,377
11
CREDITORS due In 1gs5 than one year
2024
2023
Trade creditors
Accruals
VAT creditor
Amount from trading subsidiary
5,138
3,170
279
246
31,386
30,595
8,833
61,981
-13-

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
12
EMPLOYEES
There were no employees during the current period or the prior period.
13 TRUSTEES. REMUNERATION AND EXPENSES
During the year none of the trustees have been paid any remuneration or received any other
benefits from an employment with the charity or a related entity.
During the year no expenses were incurred by the trustees.
14
RELATED PARTY TRANSACTIONS
During the year, the charity received an unrestricted donation of £nil (2023 - £80,000) from
Mr J M Dunkerton, a trustee.
At 30 November 2024 the charity owed £246 (2023 £nil) to Dowdeswell Conservation
(Trading) Limited, its wholly owned subsidiary. During the year, a loan of £2,246 was written
off between them and the outstanding amount will be cleared after the year end. The loan
was made on a short term, interest free basis to enable the subsidiary to carry out works in
support of the charity.
At 30 November 2024 the Charity owed £nil (2023 - £37,855} to Dowdeswell Conservation
(Trading) Limited in respect of trading activities made by the subsidiary in the period. This
balance is included within trade creditors and accruals.
15 ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024
Restrlcted Funds
Unrestrictod Funds
Total Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
1.016,201
1,016,201
70,608
{8,833)
70,608
(8,833)
1,077,977
1,077,977
2023
Restricted Funds
Unrestrlcted Funds
Total Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
1,016,201
1,016,201
142,224
{61,981)
142,224
(61,981)
1,096,445
1,096,445
-14-

DOWDESWELL CONSERVATION LIMITED
NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
16 NET MOVEMENT IN FUNDS
2024
Restricted Funds
Unrestricted Funds
Total Funds
At 1 December 2023
Income
Expenditure
Transfers be￿een funds
1,096,445
85,274
(103,742)
1,096,445
85,274
(103,7421
At 30 November 2024
1,077,977
1,077,977
2023
Restricted Funds
Unrestricted Funds
Total Funds
At 1 December 2022
Income
Expenditure
Transfers betNeen funds
1,140
70,221
{71,3611
1,163,616
220,001
(287.1721
1,164,756
290,222
(358,533)
At 30 November 2023
1,096,445
1,096,445
-15-