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2022-04-05-accounts

Charity Registration No. 1168094

BELLHURST NATURE CONSERVATION TRUST

(CHARITABLE INCORPORATED ORGANISATION)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2022

BELLHURST NATURE CONSERVATION TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees R Hobbs
D Rossney
L Richardson
J Lavender
Charity number 1168094
Principal address and 73 Cornhill
registered office London
EC3V 3QQ
Independent Examiner S Coleman ACA
Gerald Edelman LLP
73 Cornhill
EC3V 3QQ
Bankers Royal Bank of Scotland
1 Fleet Street
London
EC4Y 1BD
Solicitors Adams & Remers
Trinity House
School Hill
Lewes
Sussex
BN7 2NN
Investment advisors LGT Vestra LLP
14 Cornhill
London
EC3V 3NR

BELLHURST NATURE CONSERVATION TRUST

CONTENTS

Page
Trustees' report 1 - 4
Statement of Trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 16

BELLHURST NATURE CONSERVATION TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2022

The Trustees present their report and accounts for the year ended 5 April 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

The trust's main objectives are:-

1) The conservation, protection and preservation for the public benefit of woodlands, farmland and other rural properties of beauty in their natural state. The promotion of natural and indigenious species of plants, trees and wildlife in their natural habitat.

2) The advancement of education by the promotion of interest and awareness amongst the general public in the natural environment of the countryside and in the amenity value of the maintenance of the natural ecology of woodlands, fields and hedgerows.

The Bellhurst Nature Conservation Trust aims to manage its woodlands and farmland in an appropriate and environmentally responsible way for the future and to inspire people to both enjoy and value the natural world. The Trust wishes to manage its land in a way that maintains both its wildlife and landscape value and its productivity to provide now and in the future relevant ecological, economic and social benefits at a local and national level.

The Trustees confirm that, in their opinion, they have complied with their duty to have due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake and in exercise of their powers as detailed in the constitution and under charity law.

Directly and indirectly the Trust provides and contributes to multiple public benefits, which can be summarised as follows;

BELLHURST NATURE CONSERVATION TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

Achievements and performance

The Bellhurst Trust aims to manage its woodlands and farmland (approximately 1,300 acres) in an appropriate and environmentally responsible way to inspire people and encourage them to understand and value the natural world and the role of farming and woodland management. We do this to maintain our estate’s wildlife and landscape value along with its agricultural and forestry productivity to provide relevant ecological, economic, and social benefits at a local and national level.

In 2013 we set out an overriding strategy for the management of the woodlands in our ownership and we regularly review this to ensure our strategy and longer-term objectives remain relevant. In preparation for 2023 we have completely reviewed our woodland management objectives and prepared new woodland management plans to run for the next ten years. These will be submitted to the Forestry Commission for their approval in 2023 and these plans will allow us to ensure our woodland management work programmes are fit for their purpose and continue to build on our considerable achievements to date.

As always, we continue to implement woodland management work specifically suited for individual woods and the works this year have included the on-going programme of tree thinning, coppicing, tree safety surveys, rhododendron control where it has re-grown, and deer culling. We continue to support the local rural economy by only using independent, local, competent, and trustworthy contractors for the woodland management work, the deer culling, and aspects of the work on the farm. Funds derived from timber sales from the Trust’s estate are re-invested to fund on-going and future management work.

The effects of and the implications resulting from ash dieback remain a major concern for us. In the coming years we expect this fungus to kill most of the ash trees in our woodlands and across the farm. Inevitably this will change our woodlands visually and structurally and threaten the many species which rely on ash. Also, the presence of infected ash trees in our woods has begun to influence our current and future woodland management options and several tree safety issues have required our attention. The costs of managing the diseased trees are high and include the practical expense of clearing up dead and dying trees and the loss of a valuable timber resource.

The presence of large and generally unmanaged herds of wild fallow deer in our part of Sussex and Kent is an on-going and increasing problem not just for our land but for the area as a whole. We continue to undertake deer impact surveys in all the woods owned by the Trust, and we have increased our efforts shooting fallow deer to reduce their numbers and their adverse impact to the woodland and farm ecology. We have also recently joined a new national pilot project with other neighbouring landowners conceived and run by the High Weald AONB partnership to coordinate joint efforts to cull fallow deer numbers.

In 2018 the Trust took back the total control and management of its certified organic farm, which had been managed on our behalf by a third party for the previous 20 years. Managing the farm ourselves has allowed us to take it into a very different and exciting direction as we move it from the conventional organic farm it has been for 20 years to a regenerative organic livestock farm.

The transition began in the winter of 2018 and we have been aiming to move the farm to a fully regenerative organic agricultural approach – holistic planned grazing, pasture-fed (i.e. 100% grass-fed) livestock with agroforestry if appropriate and a regenerative market garden or orchard – within five years. Most of the farm has been re-designed to allow holistic planned livestock grazing and we will be extending the required infrastructure to the whole farm soon. Last year the cattle were awarded Pasture For Life certification by the Pasture-fed Livestock Association.

The farming system we have introduced complements and enhances our wildlife and landscape conservation objectives, and the primary emphasis of the farm is on soil health, bellow and above ground biodiversity, and productive farming in a way that provides nutrient-rich real food. After a hiatus of a few years, the farm went back into the Countryside Stewardship Scheme in January 2021.

BELLHURST NATURE CONSERVATION TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

Throughout 2022 the farm was comprehensively surveyed once a month throughout the year to record its existing wildlife interest. The wildlife records from this survey have been shared with the Sussex Biodiversity Records Centre and the survey’s findings will inform and guide the future management of the farm. The initial findings have shown quite a high total of 877 species across the land components of the farm (the aquatic interest of the rivers, wetland ditches, and ponds on the farm were not surveyed) including 616 species of invertebrates, 182 species of vascular plants, and an impressive 61 species of birds. While the survey describes the farm as a rich wet grassland site especially rich in invertebrates and bird life, it also shows that there are a number of recommended management changes we can make to improve the farm further for wildlife.

Last winter we also trailed the use of a high specification drone using thermal imaging cameras to count the numbers of common snipe (Gallinago gallinago) that migrate to and live on the farm during the winter months. This turned out to be very successful - the high-resolution cameras picked up each snipe’s temperature signal and with the drone at a height of 100 metres we could count the snipe without disturbing or alarming them.

We continue with our informal arrangement with the High Weald AONB Partnership allowing their Land Management Advisors use of the farm as a demonstration farm for others that want to move to a similar farming approach and to raise the awareness and the understanding of regenerative agriculture. Building on the range of visits to the farm since 2020, we again hosted many visits throughout the year by farmers, senior national and local policy makers, and some private businesses.

We have continued our collaboration with the Royal Botanical Gardens Kew on the UK Ash Collecting Project this year. Although the great majority of ash is expected to be lost throughout the UK, a small proportion of trees have shown tolerance of ash dieback and collecting seed and other genetic material from these trees is now considered to be a national priority. Kew continue to survey some of our woods and take seed and samples from those ash trees that appear to be showing a tolerance to the disease. Kew plans to re-visit our woods in 2022 and 2023.

We have continued to work with the teachers and the children from two local schools to host Forest School sessions at two of our woodlands. We are also working with a London-based organisation working with inner-city young adults and in the summer of 2022, we hosted a ‘no-impact’ over-night stay in one of our larger woods. We are very keen to instil in children and young adults a love of the outdoors, farming, and wildlife through stimulating, hands-on experiences, which also support the development of self-esteem, confidence, and independent learning.

As always, we continue to suffer from a variety of anti-social behaviour from a minority of our many neighbours (landowners and house residents) such as land grabbing, timber and firewood theft, movement of boundary fences, grazing our land without permission, illegal access, illegal shooting, and illegal tree felling. We have had a particular problem in 2022 with illegal deer stalking at night at one of our larger woodlands and this is something we’ll need to resolve with help and guidance from Sussex Police. Inevitably the anti-social behaviour we experience absorbs a disproportionate amount of the time and resources freely given by the Trustees, but we continue to address these problems as and when they arise.

The Trustees meet on a regular basis to discuss and consider the site specific woodland management plans and the management of the organic farm, to consider, plan and implement a programme of works for the next year, to meet and work with our neighbours, and to deal with critical and urgent works.

BELLHURST NATURE CONSERVATION TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022 Flnanclal revlew The net Expenditure in the year was £10.12812021 Income.. £12.8031. The income lolalled £19,586 (2021.. £14.736) of whicj) £3.388 12021. £3.536} related to investment income. Grants ieoeivable in the year tolalleii £7.607 12021-. £7.9131 and were from the Forestry Commission in respect. of ongoing woodlands management. Income from sale of firewood totaHed £7.51412021'. £2,659). Other Inc0￿e. totalled £1.Q77 12021 £6281 and included a COntri￿￿On from a third party towards the cost of woodlahds expenditure. Expendllure lolalled £30.867 12021.. £31.8581 of which £17,9)9 12021.. £20,295) related lo woodlands management. Govemance costs totalkd £4,054 {2021.. £4.092). The charity is now in a financially secJJre position. However the Trustees are awarè ol the need for proper long tèm financial planning to ensurè the res￿1￿C￿S arè availaNe whth énablè the T￿Ste8S to finaneA 3 program of works on an ongoing basts for the long term. In this regard the TnJ51e8s have been rewwng the Investment of the cash funds relained and have made a s¢Jbstantial investment wth stockbrokers with the objective ol aGhiewng a higher rale of relum. The funds have been invesled wth a wew to obtaining growth in the portfolio balanced be￿een income and ¢aprtal retvms. An investment gain of £1.153 (2021.. £29,925) accrned in the year. As al the balance sheet date the charity held free reserves of £286.117 when the tangible fixed asssl total Is 8xduded. The charity have carried out exlensive improvements and maintenance on the woodlands held as sel out in the management ￿anS CoM￿ated which need be financed from such reserves. The Trustees have rewewad the risks asswatèd with the d)ariWs operations and are developng a Flan lo ensure that such risks are mi￿.gated to a reasonable level. Stru¢turei g¢v¢rnan¢e and manag¢ment The Twst wa$ established by a constrtution leffeclwe registrabon date 7 July 2018) and was fomied as a Chantable Incorporated Org8nisalion. The new th8nty re¢eived asse15 Irom the previous charity with the same name ,which has now been diSso￿ed. mainly ts)mpnsing wty)dlands In Soulh E8St Englant1 which rt manages with a view to conservation and regenerabon. The Trustees who sérved during the year were: R Hobb D Rossney L Richardson J Lavender The power of appointment of new Trustees is vested an the Board. In seW"ng Ind￿idUalS foi apwintment regard will be given lo their skills, knovAedg8 and experience needed for the effedive administration of the charity. None of the Trustees has any beneficyal inlerest in the wmpany. The Trustees meet fomially on a regular basis in order lo discuss the ongoing.administratN8 and other issues arising. They also meet on an informal basis for pre arranged visits at selecled woodland sites bolh to assess any immediate necessary works reqUI￿d and to discuss plans for their fijture development in the long temi. The Trustees, report was approved by the Board ofTnJslees. J Lavendèr Trustèè Daled.. 10 January 2023

BELLHURST NATURE CONSERVATION TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2022

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The 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 state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BELLHURST NATURE CONSERVATION TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BELLHURST NATURE CONSERVATION TRUST

I report to the Trustees on my examination of the financial statements of Bellhurst Nature Conservation Trust (the Trust) for the year ended 5 April 2022.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

S Coleman ACA Gerald Edelman LLP Chartered Accountants 73 Cornhill London EC3V 3QQ

Dated: 10 January 2023

BELLHURST NATURE CONSERVATION TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2022

Notes
Income from:
Grants receivable
3
Sale of timber
4
Investments
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net expenditure before investment returns
Net loss on investments
12
Net income/(expenditure) for the year
Fund Balances at 6 April 2020
Fund balances at 5 April 2022		 2022
£
7,607
7,514
3,388
1,077
19,586
2,848
28,019
30,867
(11,281)
1,153
(10,128)
1,732,245
1,722,117		 2021
£
7,913
2,659
3,536
628
14,736
2,596
29,262
31,858
(17,122)
29,925
12,803
1,719,442
1,732,245

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

BELLHURST NATURE CONSERVATION TRUST BALANCE SHEET AS AT 5 APRIL 2022 2022 2021 Fixed ass¢ts Tangible 85sets Inveslmenls 13 14 1.436.￿0 252.&a4 1.436,OOQ 1,688,894 1.687.207 Current assets Debtor5 Cash al bank and in hand 15 1.450 37.061 1,047 48,536 38,511 49,583 Credltorn: amounts f4lllng du¢ wlthln on• yoar 16 {5,288) 14,545) Nat current a$￿ts 33,223 45,038 Totsl a¥s•t8 l•s$ ¢urrnnt Ilabl1￿ 1,722.117 1,732,245 Income funds Unrestricted funds 1,722.117 1,732,245 The aeeounts ere approved by the Trustees on 10 January 2023 J Lavender Trust8a

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

Charity information

Bellhurst Nature Conservation Trust is a Charitable Incorporated Organisation. The registered office is 73 Cornhill, London EC3V 3QQ

1.1 Accounting convention

The accounts have been prepared in accordance with the Trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Incoming resources

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants received represent contributions received from the Forestry Commission and other similar bodies towards the upkeep and maintenance of the woodlands owned by the charity.

Other income including investment income is included in the accounts on an accruals basis.

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All resources expended are accounted for on an accruals basis and the irrecoverable element of VAT is included in the expense to which it relates.

Support costs include governance which are represented by expenditure not directly allocated to charitable activities. Such costs mainly relate to office overheads, audit and other professional fees incurred in dealing with the management of the charity and meeting its statutory obligation.

Expenditure on charitable activities is represented by all costs incurred in connection with the maintenance and regeneration of the woodlands owned by the trust as well as support costs.

1.6 Tangible fixed assets

Freehold land held for charitable purposes is included in the financial statements at the cost inherited from the previous charity (as represented by the market value at May 2000). As all of the tangible property is held for charitable purposes no further revaluation is planned by the Trustees.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

As a registered charity the Society is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

2 Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Grants receivable

Forestry Commission
4
Sale of timber
Sale of timber		 2022
£
7,607
2022
£
7,514		 2021
£
7,913
2021
£
2,659

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

5
Investments
Income from listed investments
Interest receivable
6
Other income
Other income
7
Raising funds
Investment management
8
Charitable activities
Insurance
Woodland management

Professional fees
Trustee expenses

Share of governance costs (see note 9)
 2022
£
3,382
6
3,388
2022
£
1,077
2022
£
2,848
2022
£
463
17,909
5,151
442
23,965
4,054
28,019		 2021
£
3,494
42
3,536
2021
£
628
2021
£
2,596
2021
£
500
20,295
4,231
144
25,170
4,092
29,262

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

9
Support costs
Independent examination
fees
Legal and professional		 2022
£
2,400
1,654
4,054		 2021
Basis of allocation
£
2,400
Governance
1,692
Governance
4,092

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year except as disclosed in note 18. Other expenses were paid to one trustee in the year of £311.

.

11 Employees

There were no employees during the year.

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

11
Employees
12
Net gains/(losses) on investments
Revaluation of investments
Gain on sale of investments		 (Continued)
2022
2021
£
£
(4,165)
18,166
5,318
11,759
1,153
29,925		 (Continued)
2022
2021
£
£
(4,165)
18,166
5,318
11,759
1,153
29,925
29,925

13 Tangible fixed assets

Tangible fixed assets
Land and buildings
£
Cost or valuation
At 6 April 2020 and 5 April 2021 1,436,000

Held solely for charity use.

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2022

14 Fixed asset investments

Listed
investments
Cash in
portfolio
£
Cost or valuation
At 5 April 2021
231,778
19,429
Additions
51,979
-
Valuation changes
(4,165)
-
Movement in cash
-
6,819
Disposals
(52,946)
-
At 5 April 2022
226,646
26,248
Carrying amount
At 5 April 2022
226,646
26,248
At 5 April 2021
231,778
19,429
2022
£
The investments at fair value were held as follows:
In the UK
98,837
Outside the UK
127,809
226,646		 Total
£
251,207
51,979
(4,165)
6,819
(52,946)
252,894
252,894
251,207
2021
£
66,617
165,161
231,778

Fixed asset investments historical cost

The historical cost of the investments was £208,490 (2021- £209,468)

15 Debtors

Amounts falling due within one year:
Other debtors
Prepayments
16
Creditors: amounts falling due within one year
Accruals		 2022
£
1,367
83
1,451
2022
£
5,288		 2021
£
964
83
1,047
2021
£
4,545

BELLHURST NATURE CONSERVATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

17 Related party transactions

A total of £4,166 included in woodland management costs was paid to Esus Forestry, in which the Trustee D Rossney has an interest, as authorised persuant to the terms of the governing document.