**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.
Page 1
**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.
Page 2
**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
Page 3
**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
Page 4
**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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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: .............................................
Page 5
**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
Page 6
**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
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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...
Page 11
**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.
Page 12
**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
Page 13
**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
Page 14