REGISTERED CHARITY NUMBER: 1173346
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2020
FOR
WIGHT NATURE FUND CIO
Harrison Black Limited Pyle House 136/137 Pyle Street Newport Isle of Wight PO30 1JW
WIGHT NATURE FUND CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To preserve for the public benefit land of environmental significance within the Isle of Wight, in particular by providing or assisting in the provision of finance for the purchase of such land;
To promote the education of the public as to the need for conservation of the environment within the Isle of Wight.
Significant activities
The Green Gym is used to maintain some land as are outside agricultural contractors, farmer Richard Salter grazes highland cattle at Alverstone Mead. During 2020 our funds were sufficient to enable us to maintain all our reserves. The Committee did not meet due to Covid-19 but the trustees met once and twice via zoom. Otherwise management was carried out by email and telephone. There were management plans in place for all reserves. Wardens managed the reserves in accordance with the management plans as best they could with Covid-19 restrictions in place, but subsequently due to insurance issues as well as Covid-19 controls volunteer activity was curtailed. However volunteers and HIWWT kept a watchful eye on the reserves. Our hides were both closed for the safety of the public.
Public benefit
The Trustees confirm that, in its objectives, strategies and activities, the company has complied with its duty under section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission, and to the Commission's supplementary guidance on the advancement of education and conservation of the environment within the Isle of Wight.
The Charity holds the following land:
Alverstone Mead (Leasehold) (60 acres) Land adjoining Alverstone Mead (Freehold) (6 acres) Youngwoods Copse (Freehold) Additional land at Youngwoods Way (Freehold) (4 acres) Bretts Meadow (Freehold) Mill Copse (Leasehold) (14 acres) Pelham Woods (Held under Licence) Copse Mead (Leasehold) Benstead's Marsh (Freehold) (2.5 acres). Following a resolution of the trustees the license for Pelham Woods and the lease on Copse Mead were surrendered to the Isle of Wight Council in November 2020.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Due to covid-19 restrictions our activities were limited. All reserves remained open but the hides were closed. Volunteers reduced their activities with no specific projects being undertaken other than the minimum of maintenance. The reserves provided a valuable escape for those restricted from other activities, and providing valuable exercise ground . Wildlife in the reserves was maintained but with nothing of particular rarity. Red squirrels were seen frequently at Alverstone .
Risk assessments for the reserves and their activities were updated and as a result of higher insurance demands it was decided to suspend some volunteer activities for the time being pending the transfer of the remaining reserves to HIWWT. The minimum amount of maintenance was carried out at Mill Copse but some damaged trees were identified and felled after the year end.
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020
FINANCIAL REVIEW
Financial position
There was a deficit in 2020 of £1,629 (2019 surplus - £288,814, due to the legacy). Our net cash in hand at the year end was £294,886 (2019 - £300,447). Our trustees proposed that they would give £250,000 to Hampshire Isle of Wight Wildlife Trust as part of a transfer of our Alverstone reserves, such sum to be restricted to reserve acquisition and improvement on the Isle of Wight.
Reserves policy
Our policy for financial reserves is to obtain as high a rate of interest as possible consistent with safety and with some funds at instant access for the needs of the Charity. The reserves are being relied upon to supplement our annual income in years where there is a shortfall.
FUTURE PLANS
The Trustees met to discuss the future for Wight Nature Fund (WNF). It is now 30 years since the Fund was formed, changing to a CIO three years ago. As most of the committee members have been on it since the beginning, we feel the time has come to hand over the reins. When we started, the H&IWWT, then the H&IW Naturalists Trust, had members on the Island, but a low profile, & this was one of the reasons we felt there was a need for a group such as the Wight Nature Fund. We are delighted the HIWWT Trust has grown since, and especially pleased with the purchase of Parsonage Farm, Hill Heath, and Sandown Meadows, to which we contributed. The HIWWT was approached in July 2020 with a view to taking over the entirety of our reserves and undertaking. HIWWT agreed on December 6th to take over Alverstone Mead, Bretts Meadow and Bensteads Marsh and adjoining Alverstone land. Solicitors were instructed but there were delays in completion which finally took place on July 27th 2021. We disposed of most of our equipment by sale or gift during the Spring and summer of 2021. The land was transferred to HIWWT at nil value and in addition £250,000 was transferred to them on July 29th 2021, as a restricted Isle of Wight fund, in accordance with the wishes of Mary Barnes who was consulted on this matter.
Sadly Bob Edney who had supported the Trust since inception died in March 2020 and only the minimum amount of work by a volunteer was carried out at Mill Copse . A brief tree report was carried out to assess any risks from trees, and the Isle of Wight Council carried out work on some high risk and damaged trees. Also sadly Our chairman for many years Hugh Walding has had to step down due to age related issues, but Jill Green agreed to take his place.
The future management of the Alverstone properties now rests with HIWWT, and we are in discussion with Yarmouth Town Council regarding the future of Mill Copse which in principle they wish to see available for public benefit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation, limited by guarantee, defined by Companies Act 2006.
Recruitment and appointment of new trustees
Any vacancy for Trustees shall be filled by resolution of a duly constituted meeting of the trustees. A trustee may also be removed by such a resolution. The Trustees are the only voting members and there is no general membership.
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The trustees during the year were :
Hugh Walding ( chairman) Resigned. Jill Green ( vice-chairman) Mary Edmunds ( secretary) John Harrison
Decision making
The Charity is operated by a Committee which meets every three months and Sub Committees, which are appointed as necessary to manage individual reserves and deal with particular matters arising. However due to Covid-19 restrictions the committee did not meet in person during the year. The Committee at the date of this report consists of:
Mr Christopher Wakeley (Treasurer) ,Mr Richard Grogan, Mr Rodney Harris (Youngwood Copse Warden), Mrs Janice Instone (Publicity Officer), Mrs Ronnie Waterman, Mrs Maggie Nelmes (Pelham Woods Committee), Mr Jamie Marsh (Hampshire & IOW Wildlife Trust representative (H&IWWT)), Mr Terry Guildford (Alverstone Mead Warden). The Trustees are all entitled to attend committee meetings as full voting members.
Between meetings executive decisions are made as necessary by the Trustees.
Management Plans are agreed by the Committee for each reserve and implemented by the Warden and Sub Committee (where appointed) or otherwise by the Committee itself and the Trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1173346
Principal address
19 Chatfield Lodge Newport Isle of Wight PO30 1XR
Trustees
Dr H Walding (resigned 4.5.20) Mrs J Green Mrs M Edmunds J R Harrison
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Elizabeth Dack FCA FCCA Harrison Black Limited Pyle House 136/137 Pyle Street Newport Isle of Wight PO30 1JW Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Mrs J Green - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WIGHT NATURE FUND CIO
Independent examiner's report to the trustees of Wight Nature Fund CIO
I report to the charity trustees on my examination of the accounts of Wight Nature Fund CIO (the Trust) for the year ended 31st December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Elizabeth Dack FCA FCCA Harrison Black Limited Pyle House 136/137 Pyle Street Newport Isle of Wight PO30 1JW
Date: .............................................
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WIGHT NATURE FUND CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| 2020 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,392 - 1,392 Investment income 2 3,149 - 3,149 Total 4,541 - 4,541 EXPENDITURE ON Charitable activities general 4,661 - 4,661 Other 1,509 - 1,509 Total 6,170 - 6,170 NET INCOME/(EXPENDITURE) (1,629) - (1,629) RECONCILIATION OF FUNDS Total funds brought forward 331,831 - 331,831 TOTAL FUNDS CARRIED FORWARD 330,202 - 330,202 |
2019 Total funds £ 335,432 525 |
|---|---|
| 335,957 10,267 36,876 |
|
| 47,143 | |
| 288,814 43,017 |
|
| 331,831 |
The notes form part of these financial statements
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WIGHT NATURE FUND CIO
BALANCE SHEET 31ST DECEMBER 2020
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 5 37,116 - CURRENT ASSETS Cash at bank 294,885 - CREDITORS Amounts falling due within one year 6 (1,799) - NET CURRENT ASSETS 293,086 - TOTAL ASSETS LESS CURRENT LIABILITIES 330,202 - NET ASSETS 330,202 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
2020 Total funds £ 37,116 294,885 (1,799) 293,086 330,202 330,202 330,202 330,202 |
2019 Total funds £ 33,075 300,447 (1,691) 298,756 331,831 331,831 331,831 331,831 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Green - Trustee
............................................. M Edmunds - Trustee
The notes form part of these financial statements
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WIGHT NATURE FUND CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Investment income | 3,149 | 525 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2020 nor for the year ended 31st December 2019.
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 335,432 - Investment income 525 - Total 335,957 - EXPENDITURE ON Charitable activities general 10,267 - Other 36,876 - Total 47,143 - NET INCOME 288,814 - RECONCILIATION OF FUNDS Total funds brought forward 43,017 - TOTAL FUNDS CARRIED FORWARD 331,831 - |
Total funds £ 335,432 525 |
|---|---|
| 335,957 10,267 36,876 |
|
| 47,143 | |
| 288,814 43,017 |
|
| 331,831 |
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020
| 5. TANGIBLE FIXED ASSETS COST At 1st January 2020 Additions At 31st December 2020 DEPRECIATION At 1st January 2020 Charge for year At 31st December 2020 NET BOOK VALUE At 31st December 2020 At 31st December 2019 6. CREDITORS: AMOUNTS FALLING DUE Trade creditors Other creditors 7. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Freehold Long property leasehold £ £ 19,086 18,652 - 5,550 19,086 24,202 - 5,697 - 1,304 - 7,001 19,086 17,201 19,086 12,955 WITHIN ONE YEAR At 1.1.20 £ 331,831 331,831 |
Plant and machinery £ 1,293 - 1,293 259 205 464 829 1,034 2020 £ (1) 1,800 1,799 Net movement in funds £ (1,629) (1,629) |
Totals £ 39,031 5,550 44,581 5,956 1,509 7,465 37,116 33,075 2019 £ 791 900 1,691 At 31.12.20 £ 330,202 |
Totals £ 39,031 5,550 |
Totals £ 39,031 5,550 |
|---|---|---|---|---|---|
| 44,581 | |||||
| 5,956 1,509 |
|||||
| 7,465 | |||||
| 37,116 | |||||
| 33,075 | |||||
| 2019 £ 791 900 |
|||||
| 1,691 | |||||
| 330,202 |
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 4,541 TOTAL FUNDS 4,541 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 43,017 TOTAL FUNDS 43,017 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 335,957 TOTAL FUNDS 335,957 |
Resources Movement expended in funds £ £ (6,170) (1,629) (6,170) (1,629) Net movement At in funds 31.12.19 £ £ 288,814 331,831 288,814 331,831 Resources Movement expended in funds £ £ (47,143) 288,814 (47,143) 288,814 |
|---|---|
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.19 £ 43,017 43,017 |
Net movement in funds £ 287,185 287,185 |
At 31.12.20 £ 330,202 |
|---|---|---|---|
| 330,202 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 340,498 | (53,313) | 287,185 |
| TOTAL FUNDS | 340,498 | (53,313) | 287,185 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2020.
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WIGHT NATURE FUND CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Grants - AMLNR Grants - Youngwood Copse Grants - Mill Copse Investment income Investment income Total incoming resources EXPENDITURE Charitable activities Maintenance - AMLNR Maintenance - Mill Copse Maintenance - Pelham Woods Maintenance - Youngwood Copse Maintenance - Copse Mead Equipment Other Donations Long leasehold Plant and machinery Support costs Other Insurance Charity running costs |
2020 £ 664 - 478 - 250 1,392 3,149 4,541 652 75 - - - 351 1,078 - 1,304 205 1,509 2,418 265 2,683 |
2019 £ 3,169 324,000 7,204 1,059 - |
|---|---|---|
| 335,432 525 |
||
| 335,957 4,664 630 250 36 250 - |
||
| 5,830 36,000 617 259 |
||
| 36,876 2,198 1,339 |
||
| 3,537 |
This page does not form part of the statutory financial statements
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WIGHT NATURE FUND CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| Other Governance costs Accountancy fees Total resources expended Net (expenditure)/income |
2020 £ 900 6,170 (1,629) |
2019 £ 900 |
|---|---|---|
| 47,143 | ||
| 288,814 |
This page does not form part of the statutory financial statements
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