OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

British Dragonfly Society

Annual Report and Unaudited Financial Statements

for the year ended 31 March 2021

Registered Charity No 1168300 (England and Wales)

British Dragonfly Society

Registered Charity No 1168300 (England and Wales) SC049416 (Scotland)

Legal and Administrative Information

Patron

Sir David Attenborough OM CH FRS

President

Mike Dilger

Charity’s principal address

Ashcroft, Brington Road, Old Weston, Huntingdon, Cambridgeshire PE28 5LP

Trustees and Committee Members as at 31st March 2021

Mr Brian Walker, Chairman Ms Carolyn Cooksey, (Hon. Secretary) Dr Pam Taylor, Convenor of Dragonfly Conservation Group Mr Peter Brown Mr John Winterbottom (from 14[th] November 2020) Mrs Candis Collins (from 1[st] June 2020) Mr Tim Coleshaw (from 14[th] November 2020) Mr Tom Cunningham (from 14[th] November 2020)

Staff

Miss Eleanor Colver, Conservation Officer Ms Daniele Muir, Scottish Officer (Conservation) Ms Andrea Hudspeth, Scottish Officer (Projects) Mrs Sarah Miller, Fundraiser Miss Fiona McKenna, Conservation Outreach Officer

Bankers

The Bankers of the Society are Lloyds plc and CCLA Investments.

Independent Examiner

Frances Wilde FCCA DChA Warner Wilde 4 Marigold Drive Bisley GU24 9SF

BRITISH DRAGONFLY SOCIETY

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Balance sheet 12
Notes to the financial statements 13 - 24

The trustees present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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) (effective 1 January 2019)".

1. About the Society

Aims

The aims of the British Dragonfly Society (BDS), as stated in Article II of our Constitution, are “to promote and encourage the study, conservation and understanding of Odonata and their natural habitats, especially in the United Kingdom, and to raise public awareness of dragonflies” . Membership is open to anyone with an interest in the aims of the Society. The BDS is a non-profit making Society with no political affiliations or stance.

Study and conservation

Within the BDS there are two main inter-linked areas of interest, dragonfly recording and dragonfly conservation. The first of these involves encouraging individual enthusiasts to collect and submit records to the BDS Recording Scheme. These records are reviewed by County Dragonfly Recorders (CDR) to check accuracy and ensure that the data is validated. The purpose of these records is not simply to document what is present, but also to identify topics and aspects which would benefit from research and inform the second main area of interest, that of dragonfly conservation. Records help us to understand the value of a site and information about population size and breeding behaviour allows us to assess the importance of an area for species survival. Dragonflies are good indicators of the health of a habitat; if they are thriving then it is a good indication that the smaller insects on which they prey are also abundant and thus that there is a high level of biodiversity. Any variation in distribution or population size can indicate that changes on a wider environmental scale are occurring and need to be investigated.

Education and training are important tools in conservation and have become an increasingly important aspect of our work. Raising public awareness is vital because people need to appreciate something and recognise its value in order to want to preserve it, so providing information to an ever-widening audience is an important objective for the BDS. We aim to share the knowledge gained with both those working in conservation and with the general public. This is achieved both through direct contact and through public events, other meetings and publicity in the national press and social media.

2. Chair’s Overview

The Covid 19 pandemic had a very significant impact on the Society throughout the year with the cancellation of all meetings and field events. We held our Annual Members Meeting including AGM and our Spring meeting online with attendances at both around twice what we would expect at a physical meeting. We also reorganised our Scottish Conference which was postponed from March 2020 to be held online in April 2021. While we kept the situation under review, the continuing restrictions meant that it was not possible to organise any Field Meetings or Training Courses in the year under review. We were also not able to hold any physical launch events for Dragonfly

Hotspots, although we did have a virtual event to launch the Dragonfly Hotspot at Little Paxton Pits with a short video tour of the site being posted on social media platforms.

As noted in last year’s report we recognised that members and many others were likely to take a much greater interest in what creatures visited their gardens and local spots where they might take their daily exercise. We published information that would help people to identify dragonflies that they saw, both on our website and through social media. We saw a surge of reports of what people had seen via the Recent Sightings page on our website and through social media. These included many requests for help with identification and many comments that people had seen dragonflies for the first time at their garden ponds and expressed their surprise and delight that they were hosting such fascinating creatures. We also saw an increase in the rate of membership applications above the rate we have seen over the last few years and this increase continued through the year.

The impact of the pandemic has reinforced the value of social media platforms and other virtual systems as a means of communicating with a wide audience and delivering a service, particularly helping people to identify what they have seen and answering their questions. Helping people in this way encourages them to develop their knowledge and interest and start to contribute records to our recording scheme and hopefully volunteer to help with our activities. We recognise that not all our members are comfortable with using social media and we are looking at how we can be inclusive and meet the needs of all members. However, we do see a gradual shift toward social media and electronic means in terms of communications. For example, the number of people signing up to receive our widely praised monthly e-Newsletter, Hawker, had risen to nearly 2,500 by the end of the year from less than 1,000 when it was first launched.

Despite the restrictions imposed by the pandemic we did manage to progress several initiatives. Discussions on designating Dragonfly Hotspots continued and launch events are planned at Whisby in Lincolnshire and at Exbury Gardens in Hampshire in summer 2021 together with an event at Little Paxton Pits on the anniversary of the virtual launch, in all cases provided any restrictions then in force allow. It was possible to complete some habitat management work to improve conditions for Southern Damselfly and a survey of historic sites for Northern Damselfly in Scotland provided a wealth of very valuable data to identify the sites where management work is needed to prevent them becoming unsuitable for the species. The survey had to be slightly curtailed as new restrictions were imposed, but it is planned that our Scottish Recorder will survey a group of sites in Spring 2021 that were not covered in the main survey.

Work on the “State of Dragonflies 2020” review continued but was slowed by the difficulty of meeting to discuss and progress the work. Virtual meetings were held but had limitations for the discussion of some of the detailed analytical results. However, substantial progress had been made by the end of the year and the report will be launched in late summer 2021. The original plan was for a physical event to launch and publicise the event but in view of the uncertainty about what restrictions might apply at the time, a virtual launch event is now being planned. The report has made use of dragonfly records submitted by observers and it is a key objective to maintain and grow the number of records submitted and particularly complete lists of species and lists from repeated visits to sites. This data is vital to enable us to continue to monitor changes in dragonfly populations and through this add to the knowledge of the changes that are occurring in our environment. We encourage all of those who post pictures on social media and ask for identification help to formally record what they have seen.

3. Funding Successes

Our focus during the year was on securing funding to follow on from the two large three year grants, one of which ended just before the start of the year and the other which ended during the year under review. The pandemic has made this more difficult both in terms of disruption and as funding bodies have sought to address needs created by effects of the pandemic. However, progress has been made and we were in the final stages of assessment for further funding by the year’s end. No new funding grant was awarded during the year but there were a small number of donations as a result of more general appeals including one of £5,000 from Scottish Land Management Foundation.

4. Conservation and Outreach in England and Wales

Our conservation focus in England and Wales remains with Southern Damselfly, Norfolk Hawker and White-faced Darter, the three species of dragonfly in this area that are listed as Endangered on the Odonata Red List. This work includes monitoring populations, conserving and improving habitats through discussion with site managers and, where necessary, aiming to re-establish populations at sites where they have been lost, once the habitat has been restored to a suitable state. We are involved in projects to reintroduce White-faced Darter to suitable sites. This is a species which has been declining in England, at least partially from loss of habitat. We have also held discussions regarding re-introducing Southern Damselfly to sites where it has been lost, once the habitat at these has been restored and improving the habitat at sites where the population has declined. Norfolk Hawker is now being seen at more sites, probably through a combination of dispersal and immigration from Continental Europe. We are monitoring this increase in range.

Our outreach activities are intended to connect the public with dragonflies and to highlight the importance of their habitats to the overall health of the environment. Our approach to date has been through walks and talks at suitable sites and particularly at Dragonfly Hotspots. This was not possible in the current year because of the pandemic and the focus switched very successfully to using social media and particularly to highlighting garden ponds. This included promoting National Gardening Week with a series of activities on social media as well as our regular Dragonfly Week.

Communications remain important and our monthly email Newsletter “Hawker” has continued to develop during the year with the circulation continuing to increase beyond our membership. (It rose from 1960 to 2441 subscribers in the year.) While we hope new subscribers will decide to join the Society, the key aim of the publication is to raise awareness about dragonflies and their habitats more generally. We have reviewed our more conventional publications and the decision was made to cease publication of Darter, our magazine covering dragonfly recording activities, with the county reports published on our website instead and a summary of the highlights from these, together with some related articles included in Dragonfly News. This change will be implemented for Spring 2021 mailing and will save costs but will also allow more scope and space for County Dragonfly Recorders to report on the prior year. We are also reviewing how we publish our Journal in the future and have launched a consultation to seek the views of members. We also initiated a review of our website content with a particular focus on improving the support offered to visitors with identification and similar queries.

Particular points of note were:

5. Recording and Monitoring

Increasing our knowledge of our dragonflies remains a prime objective and recording is a key contributor to this. The data coming from general recording has allowed us to identify issues which would benefit from more specific study, and we have set up specific projects to address these issues. The restrictions during the recording season in the current year meant that recording for these projects was limited, although some progress was made where appropriate sites were close to volunteers.

Points of note were:

survey effort by volunteers when conditions allow. A dedicated page on our website - provides information on the project and guidance for volunteers. https://british - - dragonflies.org.uk/recording/northern damselfly survey/

6. Our Work in Scotland

Scotland is important for dragonfly conservation because it supports several species not occurring elsewhere in Britain as well as other species where most of their population is in Scotland. Several species which have previously only occurred to the south of the English/Scottish border are beginning to extend their range into Scotland. This is thought to be due to climate change and monitoring this expansion is of interest for this reason. There is also concern that climatic changes may pose a threat to the species with a more northerly distribution in Britain as a warmer climate may not favour their life cycle and may also adversely affect the habitats that they occupy. These species could also to be adversely affected by competition from the species which are now spreading north into Scotland.

While we cannot alter the consequences of climate change, we are trying to monitor what is happening to better understand the issues, through developing a clearer understanding of the current distribution of the key species and the condition of their habitat. Improving habitat conditions and preventing existing sites from being degraded by factors that we can influence are actions that we can take, and these will help to maintain the species and provide a clearer picture of the reasons for any changes which do occur. We therefore have a particular focus on Northern Damselfly and Azure Hawker, which occur only in Scotland within the British Isles, and have a restricted distribution even within Scotland. We are also starting to focus on Northern Emerald, another species found only in Scotland within the UK.

As with other areas of our work, the pandemic disrupted most of our planned activities. However, the following activities did take place:

in “good” or “very good” condition. The survey found that 24 of the sites required management work to remain in a suitable condition for Northern Damselfly. The main issue was infilling of ponds by vegetation and loss of open water. Three ponds no longer existed but the species was found at three new ponds near existing sites. Funding support for this survey was received from Cairngorms National Park, RSPB and Forestry and Land Scotland. Northern Damselfly has been added to the list of species being covered by the Rare Invertebrates in the Cairngorms Project.

7. Partnerships

We have continued to cooperate with other organisations with similar aims to gain mutual benefits. Habitats which are attractive to dragonflies also support a wide range of other plants and creatures and working with other bodies and landowners to manage and improve sites which support dragonflies, helps conservation more generally and adds to the attractiveness of sites for visitors.

Dragonfly Hotspot Partners: We have continued to progress the designation and launch of Dragonfly Hotspots but this has been disrupted by the pandemic.

Scottish Partners: We continued our partnership work with Scottish Wildlife Trust, the RSPB and Forestry and Land Scotland (previously Forestry Commission), running training courses for their staff and supporting their recording and surveying activities. Cairngorms National Park, RSPB and Forestry and Land Scotland provided a funding contribution towards the cost of the survey of historic Northern Damselfly sites. NatureScot (previously known as Scottish Natural Heritage) has continued to contribute to the cost of our conservation work in Scotland, this year providing £4,750.

Ministry of Justice (MoJ): We have continued to liaise with MoJ staff and provided advice to them, but the pandemic has prevented any other activities.

British Trust for Ornithology : We continue to receive records of dragonflies through the Birdtrack and Garden Birdwatch schemes and BTO Mapping Software has been used to allow participants to

self-select their survey areas for the White-legged Damselfly Investigation in England and the Northern Damselfly survey in Scotland.

8. A Look Ahead

Our strategy will continue to be to improve our knowledge of our dragonflies, the changes they are undergoing and their needs in terms of habitat condition as well as promoting dragonflies and their place in conservation through public engagement. We want to attract more people to join British Dragonfly Society and become active members by recording dragonflies and/or volunteering to assist in the partnership activities that we are developing.

Points of note are:

9. Legal and Administrative requirements

Structure, Governance and Management

The charity was registered as a Charitable Incorporated Organisation with the Charity Commission (England and Wales) in July 2016 and in Scotland in June 2019. As at 1[st] September 2016 it took over the assets and liabilities of the previous unincorporated charity of the same name.

The Society’s governing document is the CIO Constitution agreed by the Charity Commission in July 2016.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Recruitment and appointment of new Trustees

Trustees are elected by the membership at the Society’s AGM. One-third of the Trustees retire by rotation on an annual basis. Trustees may serve a maximum of 9 years.

The Society seeks new Trustees from its membership and from other interested parties. The new CIO allows greater numbers than the former unincorporated charity and the Society is seeking to recruit new Trustees with appropriate skills.

BRITISH DRAGONFLY SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH DRAGONFLY SOCIETY I re￿$rt to the trustees on my eXaMinat￿n of the fmandal statements of Brltish Dwonfy SocAety {the charity) for the year ended 31 Mwch 2021. R•$pon$lbllttl•s and basls of r•port As the trustges of tho charity YOU ¥9 resp(Thib￿ for th8 weparatKJn of the finanrial st8tsm￿ts In accordan￿ with the requirefnents of the Charities and Trustso Invostment (Scotlandl Act 2005 (the 2005 Actl. th8 Charfdes Accounts IScoU8rKI} R8gulation$ 2CM)6 (as am8nd8dl and the Chariii88 Act 2011 1th8 2011 Act). You ¥re sattsfied that your tharity 1$ not roquIr￿ by charity law to b8 aud￿ed and have thosen Instead to have an indeperKtenl ￿mmatiOn. I report In respect of my examlnètlon ol tho chariVs Ilnandal statsmants carried out und8r section 44 (11 I cl of the 2005 Ad and section 145 of Ihe 2011 Ad In caff￿n9 oul my examinatk)n I hav• follow6d lh8 requirements of RegulaiKsn 11 of the Chantie8 Accounts (Scolland) Regulalk)ns 2006 {88 8mend8d} and all th8 appllcable Dlrgdons glvort by tho cfwlty CommW)n urvJg1 Soclh)n 14515Xb) of tho 2011 Act. knd•p•nd•nt •xamln•f¥ •t#tom•nt Sln¢e thg chgrity ha$ propar•d its accounts ￿ an acuuth ba818 and 18 al80 regk8tergd in Sc￿and your èxamlner musl be a mmber of a bc•Jy 118ted kn ￿ulatIon 11121 of thg Charltlgs Acrxjunts IScoUandl Regulollons 2006 las arnend&Jl. I confirm that l am qualffied to urKlartako the ¢xamlnatbn bgcauso l am member of . whlch ￿ ong of th8118ted bod598. Your attenfjon 18 drawn to th& fact thal ￿ charity has prnparnd finandal statsments In acwdance wlth Accounung and Rewlng by Ch8rftle$ prep8rlng thelr 8¢o)unts In oKordanc8 wlth the Flnondal Reportlng standard applicable in the UK arxl Republlc of Ir•land IFRS 1021 In pr•f•ron¢• to tha Accounting and Reporung by Charfues.. Statement of Recommended Prath￿ 188ued on 1 2C¥)5 whoch Is roforrgy to the ￿ant rggulotlon8 but has now boon wlthdrawn. l underntand that th18 ha8 tjéèn (hjne h) cydbr for firwndal 8tatsm8nts to a tru8 and falr VW In a¢¢ordanco I￿1h Ggngrolly Ao¢optgd A(%wnUng Pr8thce affedve for rep￿ng period6 beglnnkng on or aftef 1 January 2015. I have complèted my ex8mlnalkn. I confirni thal r•) m8tt0rn to my 8ttenYon In ¢onr￿CtIon wlth the examSnation givlng me ￿U89 to believe that In any malerlal respect.. a¢counUng recorfs ￿trO nol kept In r8sF4ct of the Larlty as rgquired by s8¢tksn 4411} la) of the 2005 Acl and Regulation 4 of Ihe Charibes ArLounts Isccthndl Regulatp?ns 2006 {as amondedl 8nd $g¢don 130 of the 2011 Acl.. or th8 finandal slat8mgnt8 do not accord wlth those records". or the financial statements do not compty wth the accounting rnquirnments of RoguLqtlon 8 of th Charttles Accounts {ScoUandl Regulallons 2006 las amerKledl and do not ￿mplY with th8 8ppIIc8bl& r8qulrem8nts concamlng tho form and content of acojunts set out In the Charities (AcC￿jnts arKI Reports) Regul8lxM)s 2008 o#wr Ihan any rsquirèmènt that the accounts gfve a tnje and fair view whlc is not a mattw considered 88 part of an Indwnd8nt exan￿nalI0n. I hav6 no c¢)ncems and have come across no other matters in ojnnectton wlth the examlnatlon to which Bttenlion should tx drawn in this re￿rt in ordor to onabl¥ a propor Lmdorstsnding of Iho financial statements to be reached. FrarKes Wilde FCCA DChA W8m•rWllde Chartered Certrfied Accountants 4 Marigold Drive Bisley Surrey GU24 9SF

BRITISH DRAGONFLY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2021
2021
2021
Notes
£
£
£
Income from:
Donations and legacies
3
57,466
10,629
-
Charitable activities
4
5,860
-
-
Investments
5
292
-
-
Total income
63,618
10,629
-
Expenditure on:
Raising funds
6
3,208
-
7,906
Charitable activities
7
83,557
27,378
-
Total resources expended
86,765
27,378
7,906
Net outgoing resources before
transfers
(23,147)
(16,749)
(7,906)
Net outgoing resources before
transfers
(23,147)
(16,749)
(7,906)
Gross transfers between funds
35,000
3,218
(38,218)
Net movement in funds
11,853
(13,531)
(46,124)
Fund balances at 1 April 2020
156,099
13,531
129,009
Fund balances at 31 March 2021
167,952
-
82,885		 Total
2021
£
68,095
5,860
292
74,247
11,114
110,935
122,049
(47,802)
(47,802)
-
(47,802)
298,639
250,837		 Total
2020
£
124,758
6,688
1,510
132,956
10,138
136,138
146,276
(13,320)
(13,320)
-
(13,320)
311,959
298,639

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

All income and expenditure derive from continuing activities.

BRITISH DRAGONFLY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Prior financial year

Unrestricted
Restricted Endowment
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income from:
Donations and legacies
3
92,534
32,224
-
Charitable activities
4
6,688
-
-
Investments
5
1,510
-
-
Total income
100,732
32,224
-
Expenditure on:
Raising funds
6
9,104
-
1,034
Charitable activities
7
70,303
65,835
-
Total resources expended
79,407
65,835
1,034
Net outgoing resources before transfers
21,325
(33,611)
(1,034)
Gross transfers between funds
(25,373)
25,373
-
Net movement in funds
(4,048)
(8,238)
(1,034)
Fund balances at 1 April 2019
160,147
21,769
130,043
Fund balances at 31 March 2020
156,099
13,531
129,009		 Total
2020
£
124,758
6,688
1,510
132,956
10,138
136,138
146,276
(13,320)
-
(13,320)
311,959
298,639

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

All income and expenditure derive from continuing activities.

BALANCE SHEET
asf,rfiMAR0H2A21
2021 2020
as restated
Notes t. €
Currentassets
Stocks 12 3,630 2,381
Debtors 13 27,497 18,438
lnvestments l4 212,004 247,000
Cashatbank and in hand 12,332 41,038
255,459 308,8s7
Creditors: amounts fallingduewithin
oneyear 15 (4,622) (10,218)
Netcunentassets 254,837 298,639
:
Capitalfunds
Expendable endowment 82,885 '129,009
17 82,885 129,009
lncome funds
Restricted funds 18 13,531
Unrestricted funds 167,952 't56,099
250,837 298,639
:

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

British Dragonfly Society is a Charitable Incorporated Organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity 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 charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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 charity 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity 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 charity 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 charity 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.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

1.6 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

1.7 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.

1.8 Financial instruments

The charity 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 charity's balance sheet when the charity 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.

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 p aymen ts 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 charity’s contractual obligations expire or are discharged or cancelled.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’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 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
21,057
-
Grants Receivable
-
10,629
Membership fees
36,409
-
57,466
10,629		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
21,057
29,536
-
10,629
29,539
32,224
36,409
33,459
-
68,095
92,534
32,224		 Total
2020
£
29,536
61,763
33,459
124,758

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3
Donations and legacies
Grants receivable for
core activities
Esmee Fairbairn
Foundation
NatureScot
John Ellerman
Foundation
D'Oyly Carte Foundation
Groundwork UK
Forest and Land
Scotland
Cairngorms National
Park
RSPB
Other		 -
-
-
-
-
-
-
-
-
-		 -
8,129
-
-
-
1,000
1,000
500
-
10,629		 -
8,129
-
-
-
1,000
1,000
500
-
10,629		 -
-
25,000
2,000
2,250
-
-
-
289
29,539		 (Continued)
25,000
25,000
7,224
7,224
-
25,000
-
2,000
-
2,250
-
-
-
-
-
-
-
289
32,224
61,763

4 Charitable activities

2021 2020
£ £
Sales within charitable activities 5,860 6,688

5 Investments

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Interest receivable 292 1,510

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6 Raising funds

Unrestricted Endowment
funds
funds
general
2021
2021
£
£
Fundraising and publicity
Membership schemes
and social lotteries
2,936
-
Other fundraising costs
-
51
Staff costs
-
7,855
Fundraising and publicity
2,936
7,906
Trading costs
Operating a charity shop
272
-
3,208
7,906		 TotalUnrestricted Endowment
funds
funds
general
2021
2020
2020
£
£
£
2,936
2,541
-
51
-
-
7,855
-
1,034
10,842
2,541
1,034
272
6,563
-
11,114
9,104
1,034		 Total
2020
£
2,541
-
1,034
3,575
6,563
10,138

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Charitable activities

Staff costs
Direct Project costs
Recording costs
Storage costs
Publications
Exhibitions and Fairs
Members' Days
Dragonfly Centre
Central office costs
Grant funding of activities (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
Grants payable
Grants to individuals		 2021
£
70,226
5,952
8,993
1,053
19,275
-
-
-
1,186
106,685
250
1,794
2,206
110,935
83,557
27,378
110,935
2021
£
250
250		 2020
£
76,433
19,529
9,640
1,053
11,328
239
827
452
5,343
124,844
-
9,217
2,077
136,138
70,303
65,835
136,138
2020
£
-
-

8 Grants payable

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Support costs

Support
costs
Governance
costs
£
£
Insurance
1,113
-
Recruitment
59
-
Payroll and Accounting
810
-
Subscriptions
108
-
Website
(296)
-
Independent Examiner
fees
-
990
Bank charges
-
1,216
Trustee costs
-
-
1,794
2,206
Analysed between
Charitable activities
1,794
2,206		 2021
Support
costs
Governance
costs
£
£
£
1,113
885
-
59
30
-
810
964
-
108
-
-
(296)
7,338
-
990
-
960
1,216
-
894
-
-
223
4,000
9,217
2,077
4,000
9,217
2,077		 2020
£
885
30
964
-
7,338
960
894
223
11,294
11,294

Governance costs includes Independent Examiners fees of £ 990 (2020- £ 960)

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

Number of employees

The average monthly number of employees during the year was:

2021 2020
Number Number
3 4
Employment costs 2021 2020
£ £
Wages and salaries 75,012 72,977
Social security costs 583 2,120
Other pension costs 2,486 2,370
78,081 77,467

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12
Stocks
Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Other debtors
14
Current asset investments
Unlisted investments
15
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2021
£
3,630
2021
£
27,497
2021
£
212,000
2021
£
604
444
3,574
4,622		 2020
£
2,381
2020
£
18,438
2020
£
247,000
2020
£
6,915
403
2,900
10,218

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £2,486 (2020 - £2,370).

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

17 Endowment funds

Balance at
1 April 2019

£
Expendable endowments
Expendable
Endowment
130,043
130,043		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
1 April 2020

£
£
£
£
£
-
(1,034)
-
-
129,009
-
(1,034)
-
-
129,009		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
31 March 2021
£
£
£
£
£
-
(7,906)
(38,218)
-
82,885
-
(7,906)
(38,218)
-
82,885

Expendable Endowment - This fund is legacies received in 2016 and 2017 which the charity cannot be reasonably expect to spend in one financial year. The Trustees have decided to classify this as an expendable endowment and to treat it as investment in staff posts in 2017/18 and subsequent years to grow the work of the Society.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers
Balance at
1 April 2019 resources expended 1 April 2020 resources expended 31 March 2021
£ £ £ £ £ £ £ £
£
Esmee Fairbairn Foundation 17,985 25,000 (32,820) - 10,165 - (10,165) -
-
John Spedan Lewis 3,784 - (418) - 3,366 - (3,366) -
-
NatureScot - 7,224 (32,597) 25,373 - 8,129 (11,347) 3,218
-
Northern Damselfly Survey - - - - - 2,500 (2,500) -
-
21,769 32,224 (65,835) 25,373 13,531 10,629 (27,378) 3,218
-

Scottish Office - This fund aggregates all grants for work by our Scottish Officer and the related costs. The main income is a grant from Scottish Natural Heritage.

Esmee Fairbairn Foundation - This Fund represents a grant to fund Conservation Outreach, initially through a staff member over 3 years.

John Spedan Lewis - This fund represents a grant to fund signage at newly designated Hotspots in England.

NatureScot (previously Scottish National Heritage) and Northern Damselfly Survey - Funding for surveys relating to the Northern Damselfly and the Azure Hawker and improving their habitats.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

19
Analysis of net assets between funds
Unrestricted
Funds
Restricted
Funds
Expendable
Endowment
2021
2021
2021
£
£
£
Fund balances at 31 March 2021 are represented
by:
Current assets/(liabilities)
167,952
-
82,885
167,952
-
82,885		 TotalUnrestricted
Funds
Restricted
Funds
Expendable
Endowment
2021
2020
2020
2020
£
£
£
£
250,837
156,099
13,531
129,009
250,837
156,099
13,531
129,009		 Total
2020
£
298,639
298,639

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

20 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

21 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet
At 31 March 2020
As previously Adjustment As restated
reported
£ £ £
Current assets
Debtors due within one year 16,000 2,438 18,438
Creditors due within one year
Other creditors (3,303)
(6,915)		 (10,218)
Net assets 303,116 (4,477) 298,639
Capital funds
Endowment funds 129,009 - 129,009
Income funds
Restricted funds 13,531 - 13,531
Unrestricted funds 160,576 (4,477) 156,099
Total equity 303,116 (4,477) 298,639
Changes to the profit and loss account
Period ended 31 March 2020
As previously Adjustment As restated
reported
£ £ £
Raising funds 9,699 439 10,138
Charitable activities 132,100 4,038 136,138
Net movement in funds (8,843)
(4,477)		 (13,320)