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← British Dragonfly Society

2024-03-31-accounts

British Dragonfly Society

Annual Report and Unaudited Financial Statements

for the year ended 31 March 2024

Registered Charity No 1168300 (England and Wales)

SC049416 (Scotland)

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 2024

Mr Tim Coleshaw, Chair Mr Brian Walker, Treasurer Ms Carolyn Cooksey, Hon. Secretary Dr Pam Taylor, Convenor of Dragonfly Conservation Group Mr Peter Brown Ms Bailey Tate Ms Carmel Edwards Mr Josh Younespour Professor Mike Lehane (to November 2023)

Staff

Miss Eleanor Colver, Conservation Officer Ms Daniele Muir, Scottish Officer (Conservation) Ms Andrea Hudspeth, Scottish Officer (Projects) Mrs Sarah Miller, Fundraiser Miss Lauren Kennedy, Conservation Outreach Officer Miss Jessica Slight, Administration Officer

Bankers

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

BRITISH DRAGONFLY SOCIETY

CONTENTS

Page
Trustees' report 1 - 9
Independent examiner's report 10
Statement of financial activities 11 - 12
Balance sheet 13
Notes to the financial statements 14 - 23

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

_____________

The trustees present their report and financial statements for the year ended 31 March 2024.

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 Society. 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 Society ran or participated in a full programme of events during the year. Our Annual Meeting and AGM was held in person at Nottingham Trent University in November 2023 with a good attendance and provided an opportunity for members to meet up for the first time since the start of

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

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the pandemic. Our Spring Meeting in March 2024 was held on-line to enable the largest number of participants, including those from overseas.

Successful launch events were held at our two new Dragonfly Hotspots at the London Wetland Centre and at Panshanger Park in Hertfordshire. Those attending guided walks at launch events saw Norfolk Hawker, a species which is currently undergoing a significant expansion in range, at both sites. We also had a stand at the Global Bird Fair and attended a number of other events across the country. In addition we organised guided walks in many counties, with most led by volunteers from our membership.

Membership grew modestly during the year and there was a continued growth in social media interactions about dragonflies involving both members and non-members. We took the decision to increase subscriptions for the first time in 10 years and the annual subscription for an individual will increase from £20 to £25 from 1 April 2024 with pro-rata increases for other categories. At the same time we have introduced an option to pay by direct debit with a monthly or annual payment.

There have been a number of changes in the organisation of the Society to improve our efficiency and effectiveness. Sarah Miller is now line manager to all staff and reports to the Chair in this role. Jess Slight, our Membership and Operations Officer, who was newly appointed at the start of the year has progressively taken over a range of administrative tasks. This has included the BDS Shop after Peter Brown decided to step down as our volunteer shop manager and she has rationalised the existing range of sale items and introduced new items including branded clothing items via a supplier which applies the design at the time of order, thus avoiding stock holding and wastage. Jess is also progressively taking over book-keeping duties from the Treasurer.

The Trustee Board had one resignation during the year but the decision was made to increase the membership and range of skills available and three new volunteers were recruited at the end of the year and will be put forward for election at the AGM in 2024. One aim of the recruitment exercise was to recruit a Scottish resident to the Trustees and two of the three are based in Scotland. Brian Walker, our current Trustee, must stand down at the end of 2024 according to our Constitution, having then served nine years as a Trustee. Efforts to recruit a new Treasurer were unsuccessful during the recruitment exercise but efforts are continuing, as is the transfer of book-keeping type duties to our Membership and Operations Officer.

We have continued to implement our Strategy through our 5 year work plan. During the year we have reviewed our Volunteer Policy, developed a new policy for Safeguarding and have appointed a Safeguarding Officer from within the Trustee Board. We have also reviewed our staff pay grades and have introduced a new Pay and Employment Policy which includes a system of incremental steps on the pay scale. We are also developing a new Communications Strategy for the Society which will identify our key target audiences and will be launched later in 2024. We have also initiated the creation of a Youth Panel to help increase our appeal to younger audiences.

3. Funding Successes

This year was the final year of funding from the John Ellerman Foundation and from Impact Scotland for the Volunteer Project. We continue to receive funding from NatureScot towards our work in Scotland and Cairngorm National Park Authority provided funding for the study to identify potential sites for new ponds to benefit Northern Damselflies. We received some funding from Forest and

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

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Land Scotland as part of our partnership agreement with them. Members have continued to donate to our fund for Dragonfly Hotspots and this has enabled us to fund or contribute to funding for boards at the London Wetland Centre and at existing Dragonfly Hotspots in Scotland at Scotstown Moor, Flanders Moss and Argaty. The information board and Dragonfly Trail signs at Panshanger Park Dragonfly Hotspot were funded by Tarmac, the site owner.

4. Conservation and Outreach in England and Wales

Southern Damselfly and White-faced Darter are the two species of conservation concern in England and Wales and we have continued to work with those carrying out surveys and local conservation work for Southern Damselfly. This includes a partnership with organisations managing reserves with Southern Damselfly populations in Dorset to work together to preserve the populations in the Purbeck area and discussions with volunteers monitoring populations in Hampshire. The reintroduction project for White-faced Darter at Drumburgh Moss in Cumbria, which we are supporting has progressed well with over 600 exuviae counted at the site and breeding noted at pools where eggs/larvae were not introduced as part of the project. White-faced Darter continue to be seen in Delamere Forest following the re-introduction there, but in small numbers and it is not yet clear if the population is sustainable. There has been interest in further introduction projects on the Manchester Mosses and in Yorkshire and we have been in consultation regarding these, but there are no agreed projects as yet.

The results of the White-legged Damselfly Investigation have now been written up and published Read the White-legged Damselfly Investigation final report - British Dragonfly Society (britishdragonflies.org.uk). The overall conclusion is that while there have been losses in some areas, there have also be gains and overall the population seems stable. The report does suggest further research is needed to determine why it has been lost from some sites to ensure that there are no underlying threats to the species. We are supporting the Stepping Stones Project in the Shropshire Hills Area of Outstanding Natural Beauty which is aimed at improving ecological connectivity for a wide range of wildlife including two species of dragonfly that are declining in England and Wales, Common Hawker and Emerald Damselfly.

We continue to monitor the species which are in the process of colonising the country as noted under “recording.”

We have continued to run events at our established Dragonfly Hotspots as well as launch events at the two new Dragonfly Hotspots as a key means of engaging with people. Volunteers have led walks and talks at these sites as well as a range of other sites around the country.

Interactions through social media have grown and are an important part of outreach activity. Followers and members on the various sites have continued to increase and the British Dragonflies and Damselflies Facebook page, administered by one of our Dragonfly County Recorders, is a valuable resource to provide identification help. Our monthly electronic Newsletter, Hawker, continues to get positive feedback with circulation having risen to 3207.

Particular points of note were:

BRITISH DRAGONFLY SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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5. Recording and Monitoring

Increasing our knowledge of our dragonflies remains a prime objective of the Society 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 study, and we have set up specific projects to address issues that have been identified from the pattern of records. Our dataset of dragonfly records is used by academic bodies and other organisations for research purposes and to inform planning decisions.

Research use of our records included:

Other points of note were:

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

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immigration from the continent has been a significant driver and probably accounts for at least some of the records away from East Anglia.

6. Our Work in Scotland

Scotland is important in terms of dragonfly conservation. A number of species in the British Isles occur only in Scotland. A number of species with a more southerly range are now starting to establish themselves in Scotland with continued expansion noted in 2023 for species such as Emperor Dragonfly. The rate of change in distribution is rapid in evolutionary terms and hence there is considerable interest in studying what happens in order to inform conservation efforts. One of the species that is expanding in Scotland is Azure Damselfly and this species is now being found alongside Northern Damselfly at some sites. There is some concern that they may compete to the detriment of Northern Damselfly.

There is a much lower density of dragonfly recorders in Scotland, particularly in the areas which hold the key species of interest and hence our knowledge of the status and requirements of these species tends to be much lower than for those that occur in areas with much denser human populations and hence more recorders, such as the southeast of England. This means that recording and monitoring by volunteers provides a less comprehensive picture of the situation and we are addressing this by commissioning some survey work.

The final report on the Northern Damselfly Pond Creation project for Cairngorm National Park Authority has been completed. The survey of the ponds created and improved as part of this project has been noted above, but alongside this work, the possible locations of further new ponds to try to provide linkage corridors between existing clusters of breeding ponds have been identified with the aim of creating these links if further funding becomes available.

The BDS Scotland Conservation Officer and BDS Scottish Recorder assisted with the excavation of new ponds by the Corrour Estate at the start of the year. These ponds were designed to be of varying depth to provide deeper areas that Azure Hawker larvae could retreat to during drought conditions, which are occurring more frequently in Scotland. A survey later in the year revealed larvae in these ponds of a size which suggest that they were several years old. (Azure Hawker larvae take up to five years to develop before emergence). They seemed too large to have developed from eggs or larvae which might have been transferred to them on sphagnum moss at the time of construction. This together with other observations raises the interesting possibility that the larvae may be able to travel across the bog to find a new pond if their birth pond starts to dry out. This has not been confirmed and it would still require the existence of deeper ponds in their breeding areas as refuges for them to survive drought conditions.

A bid for funding to create new ponds for Azure Hawker and other species of interest including Northern Emerald and White-faced Darter across a wider area of bogs was unsuccessful, but late in the year we received notification that some funding might be available and a further proposal has been submitted. The discussions around the original bid had raised interest with some key estates and it is likely that they will carry out some work that will be of benefit even if the full project is unable to proceed at this time.

Highlights in the year include:

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

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7. Partnerships

We believe that working with other organisations benefits both dragonfly conservation and conservation more generally.

Dragonfly Hotspot Partners: We launched two new Dragonfly Hotspots at Panshanger Park in Hertfordshire and the WWT’s London Wetland Centre this year and continued to work with our existing Dragonfly Hotspot Partners.

Scottish Partners: We continued to have good working relations with other conservation organisations in Scotland and these have grown closer in relation to reserves and areas which provide habitat for Northern Damselfly and Azure Hawker. We have carried out training and provided advice on habitat management to Forestry and Land Scotland as part of our partnership agreement. NatureScot (previously known as Scottish Natural Heritage) has continued to contribute to the cost of our conservation work in Scotland. We have continued to build on our relationship with Corrour estate which has led to the excavation of new pools to benefit Azure Hawker that will provide valuable information on how best to improve habitat for this species. We are also building links with other large estates and discussing management work to improve moorland habitat, particularly for Azure Hawker.

British Trust for Ornithology : Dragonfly records submitted to the BTO’s Birdtrack and Garden Birdwatch schemes are an important contribution to our knowledge and identification articles in BTO publications help to spread knowledge. We continue to use BTO Mapping Software to allow volunteers to select areas to survey for our projects.

Butterfly Conservation : We receive dragonfly records that are submitted to the United Kingdom Butterfly Monitoring Scheme.

8. A Look Ahead

Our overall aims remain the same but a number of initiatives are underway to deliver these. A small group of Trustees and staff is considering our membership strategy with a view to increasing numbers and encouraging a higher level of participation. We are in the process of setting up a Youth Panel and this will be encouraged to consider its role and how it can contribute to the overall objectives of the Society. We will continue to work to monitor and conserve our dragonflies and their habitats and develop projects to make a practical difference and seek funding to implement these.

Points of note are:

BRITISH DRAGONFLY SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

_____________

9. Legal and Administrative requirements

Structure, Governance and Management

The charity was registered as a Charitable Incorporated Organisation with the Charity Commission in July 2016. 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.

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.

Potential Trustees are invited to observe a Trustee Meeting before appointment. Their induction includes an information pack on the Society’s status and legal position as well as discussions with the Officers and relevant staff.

Organisational structure

The Society is governed by its Trustees who meet formally four times a year. The Society has 6 staff, a full-time Conservation Officer based in Shropshire, two Scottish Officers based at home near Perth, one part-time and the other full time, a Membership and Operations Officer, home based in

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

BRITISH DRAGONFLY SOCIETY

_____________

Staffordshire, who also took over as Shop Manager in the course of the year and a Development and Operations Manager, home based in East Sussex ,who is line manager for our staff. The Officers of the Society, the Chairman, Hon Treasurer and Hon Secretary carry out activities linked to their roles. The Convenor of the Dragonfly Conservation Group also has responsibility for delivering policies and projects of the Society through the Society’s volunteer networks.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls and actions are in place to manage these risks. The Society considers that the main risks to which it is exposed are future income streams which it manages through a multi-year Budget and regular reporting.

Financial position

Gross income for the year was £394,433 (2023 - £164,646). This income, together with legacy income received in previous years has enabled the Trustees to invest in the future of the charity. The Trustees believe this, and prior year investments will provide a good return for the Society through increased activity, greater awareness and increased future income.

Expenditure for the year was £184,284 (2023 - £167,872), reflecting the continuing of the investment described above.

Reserves policy

The policy of the charity is to hold sufficient funds to allow for the maintenance of existing activities, to cover any significant shortfall in income and to allow for future investment.

With the Expendable Endowment described above, the Trustees have considerable reserves which will be invested over the next three years. The value of Unrestricted funds and the Expendable Endowment at the year-end was £451,901 (2023 - £247,276). The Trustees had planned to reduce reserves to between 12 to 15 months of total expenditure over the next three financial years. However, the large legacies received in the current year mean that it is likely to take longer to reduce the figure. The Trustees have increased the target level of reserves that it is prudent to hold from that previously agreed. Legacies have become a significant source of funding in recent times but by their nature they can be quite large amounts and occur erratically (as we have seen this year) and relying on them for budget purposes could place the Society at risk. The planned higher level of reserves would allow Trustees to manage the continuing operation of the Society without the need for emergency measures which would be highly disruptive.

The Trustees’ report was approved by the Board of Trustees on and signed on their behalf by:

Mr B J Walker - Hon Treasurer

BRITISH DRAGONFLY SOCIETY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH DRAGONFLY SOCIETY

I report to the trustees on my examination of the financial statements of British Dragonfly Society (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011 (the 2011 Act). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the charity’s financial statements carried out under section 44 (1) ( c) of the 2005 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity has prepared its accounts on an accruals basis and is also registered in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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 2015.

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.

Frances Wilde FCCA DChA

Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF

Dated: .........................

BRITISH DRAGONFLY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Current financial year
Unrestricted
Restricted
Endowment
funds
funds
funds
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
343,703
31,504
-
Charitable activities
4
7,068
-
-
Investments
5
12,158
-
-
Total income
362,929
31,504
-
Expenditure on:
Raising funds
6
3,902
-
-
Charitable activities
7
117,323
46,723
16,336
Total expenditure
121,225
46,723
16,336
Net income/(expenditure)
241,704
(15,219)
(16,336)
Transfers between funds
(20,743)
20,743
-
Net movement in funds
220,961
5,524
(16,336)
Reconciliation of funds:
Fund balances at 1 April 2023
185,056
16,206
62,220
Fund balances at 31 March 2024
406,017
21,730
45,884		 Total
2024
£
375,207
7,068
12,158
394,433
3,902
180,382
184,284
210,149
-
210,149
263,482
473,631		 Total
2023
£
155,580
5,336
3,730
164,646
22,814
145,058
167,872
(3,226)
-
(3,226)
266,708
263,482

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 2024

Prior financial year
Unrestricted
Restricted
Endowment
funds
funds
funds
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
97,993
57,587
-
Charitable activities
4
5,336
-
-
Investments
5
3,730
-
-
Total income
107,059
57,587
-
Expenditure on:
Raising funds
6
10,033
-
12,781
Charitable activities
7
88,115
56,943
-
Total expenditure
98,148
56,943
12,781
Net income/(expenditure)
8,911
644
(12,781)
Transfers between funds
(11,562)
11,562
-
Net movement in funds
(2,651)
12,206
(12,781)
Reconciliation of funds:
Fund balances at 1 April 2022
187,707
4,000
75,001
Fund balances at 31 March 2023
185,056
16,206
62,220		 Total
2023
£
155,580
5,336
3,730
164,646
22,814
145,058
167,872
(3,226)
-
(3,226)
266,708
263,482

BRITISH DRAGONFLY SOCIETY

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Current assets
Stocks
13
3,185
Debtors
14
16,976
Investments
15
312,000
Cash at bank and in hand
144,156
476,317
Creditors: amounts falling due within
one year
16
(2,686)
Net current assets
The funds of the charity
Endowment funds
18
Restricted income funds
19
Unrestricted funds
20
The financial statements were approved by the trustees on .........................
..............................
..............................
Mr B Walker
Ms C A Cooksey
Trustee
Trustee		 £
473,631
45,884
21,730
406,017
473,631		 2023
£
3,118
13,870
212,000
41,644
270,632
(7,150)		 £
263,482
62,220
16,206
185,056
263,482

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 amounts 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 or grantors 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.

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.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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 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 charity’s contractual obligations expire or are discharged or cancelled.

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.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
105,299
5,435
Legacies
169,991
-
Grants
34,925
26,069
Membership fees
33,488
-
Donated goods and
services
-
-
343,703
31,504
Grants
Impact
-
12,961
Natural England
4,935
-
NatureScot
-
3,108
John Ellerman
Foundation
25,000
-
Groundwork UK
-
-
Forest and Land Scotland
4,990
-
Cairngorms National Park
-
10,000
34,925
26,069		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
110,734
18,173
3,380
169,991
10,000
-
60,994
25,750
54,207
33,488
43,070
-
-
1,000
-
375,207
97,993
57,587
12,961
-
16,812
4,935
-
-
3,108
-
5,883
25,000
25,000
-
-
750
-
4,990
-
-
10,000
-
31,512
60,994
25,750
54,207		 Total
2023
£
21,553
10,000
79,957
43,070
1,000
155,580
16,812
-
5,883
25,000
750
-
31,512
79,957

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activities
Sale of goods 7,068 5,336
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 12,158 3,730

5 Income from investments

6 Expenditure on raising funds

Unrestricted Endowment
funds
funds
2024
2024
£
£
Fundraising and publicity
Membership schemes
and social lotteries
1,313
-
Other fundraising costs
-
-
Staff costs
-
-
1,313
-
Trading costs
Operating charity shops
2,589
-
Total costs
3,902
-		 Total
Unrestricted Endowment
funds
funds
2024
2023
2023
£
£
£
1,313
2,313
-
-
-
1,852
-
-
10,929
1,313
2,313
12,781
2,589
7,720
-
3,902
10,033
12,781		 Total
2023
£
2,313
1,852
10,929
15,094
7,720
22,814

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Expenditure on charitable activities

Charitable Charitable
activities activities
2024 2023
£ £
Direct costs
Staff costs 117,931 79,130
Direct project costs 11,046 25,580
Recording costs 7,822 8,594
Storage costs 2,103 1,308
Publications 11,115 12,307
Exhibitions and Fairs 9,625 3,940
Staff expenses 13,103 7,038
Volunteer expenses 503 570
Central office costs 1,000 100
174,248 138,567
Grant funding of activities (see note 8) 225 -
Share of support and governance costs (see note 9)
Support 3,659 4,542
Governance 2,250 1,949
180,382 145,058
Analysis by fund
Unrestricted funds 117,323 88,115
Restricted funds 46,723 56,943
Endowment funds 16,336 -
180,382 145,058
Grants payable
2023
2024
£ £
Grants to individuals 225 -
225 -

8 Grants payable

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

9 Support costs allocated to activities

Insurance
Payroll and accounting
Subscriptions
Website costs
Governance costs
Analysed between:
Charitable activities
Governance costs comprise:
Independent Examiners fees
Bank and Paypal charges
Trustee costs		 2024
£
1,755
614
929
360
-
2,251
5,909
5,909
2024
£
1,158
660
433
2,251		 2023
£
1,568
764
518
692
1,000
1,949
6,491
6,491
2023
£
1,164
785
-
1,949

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

The average monthly number of employees during the year was:

2024 2023
Number Number
4 4
Employment costs 2024 2023
£ £
Wages and salaries 111,233 86,564
Social security costs 2,832 931
Other pension costs 3,866 2,564
117,931 90,059

There were no employees whose annual remuneration was more than £60,000.

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Employees

(Continued)

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
15
Current asset investments
Unlisted investments
CCLA - COIF Charities Deposit Fund
16
Creditors: amounts falling due within one year
Other creditors
Accruals
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
3,185
2024
£
13,763
3,213
16,976
2024
£
312,000
2024
£
1,528
1,158
2,686
2024
£
3,866		 2023
£
3,118
2023
£
10,657
3,213
13,870
2023
£
212,000
2023
£
-
7,150
7,150
2023
£
2,564

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Retirement benefit schemes

(Continued)

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.

18 Endowment funds

At
Expendable endowments
Expendable Endowment
Previous year:
At
Expendable endowments
Expendable Endowment		 1 April
2023
Resources
expended
At 31 March
2024
£
£
£
62,220
(16,336)
45,884
1 April
2022
Resources
expended
At 31 March
2023
£
£
£
75,001
(12,781)
62,220

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.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At
Dragonfly Hotspots
NatureScot
Northern Damselfly Survey
Impact Funding		 1 April
2023
Incoming
resources
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
£
5,730
5,435
(5,096)
-
6,069
-
3,108
(23,851)
20,743
-
6,038
10,000
(4,348)
-
11,690
4,438
12,961
(13,428)
-
3,971
16,206
31,504
(46,723)
20,743
21,730

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Restricted funds (Continued)
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
Dragonfly Hotspots 4,000 3,380 (1,650) - 5,730
NatureScot - 5,883 (17,445) 11,562 -
Northern Damselfly Survey - 31,512 (25,474) - 6,038
Impact Funding - 16,812 (12,374) - 4,438
4,000 57,587 56,943 11,562 16,206

Dragonfly Hotspots - This represents funding for signage at newly designated Hotspots.

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.

Impact - Funding for the volunteering opportunities project.

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 185,056 362,929 (121,225) (20,743) 406,017
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
General funds 187,707 107,059 (98,148) (11,562) 185,056

21 Analysis of net assets between funds

Unrestricted
Restricted
Endowment
funds
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Current assets/(liabilities)
406,017
21,730
45,884
406,017
21,730
45,884		 Total
2024
£
473,631
473,631

BRITISH DRAGONFLY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

21 Analysis of net assets between funds (Continued)
Unrestricted Restricted Endowment Total
funds funds funds
2023 2023 2023 2023
£ £ £ £
At 31 March 2023:
Current assets/(liabilities) 185,056 16,206 62,220 263,482
185,056 16,206 62,220 263,482

22 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).