REGISTERED CHARITY NUMBER: 1173346
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
FOR
WIGHT NATURE FUND CIO
Harrison Black Limited East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA
WIGHT NATURE FUND CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. 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.
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
OBJECTIVES AND ACTIVITIES Significant activities
The previous trustees:
Jill Green (vice-chairman) Mary Edmunds (secretary) John Harrison
Resigned in this year. They did not initially seek to recruit new trustees to replace their places and continue the work of the charity.
The following was contributed by the previous trustees:
"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, and 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."
Hampshire and Isle of Wight Wildlife Trust declined to adopt Mill Copse, in Yarmouth, so the previous trustees approached the Mayor of Yarmouth Town Council to see if they would adopt the property. The Mayor declined to use Yarmouth Town Council to adopt Mill Copse, but instead recruited new trustees, who are the current trustees, who were appointed in November 2021.
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
OBJECTIVES AND ACTIVITIES
Public benefit
The current Trustees can only confirm that activities after 3rd November 2021, 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:
Mill Copse (Leasehold) (14 acres)
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Aside from the statement above regarding the divestment of the majority of the assets and land held by Wight Nature Fund, the current trustees were not provided with any summary of the activities completed during 2021, by the previous trustees.
The current trustees work from November 2021 has been to familiarise themselves with documentation handed over by the previous trustees, to understand the situation in which the charity had been passed to them.
FINANCIAL REVIEW
Financial position
There was a deficit in 2021 of £290,375 (2020 recorded a deficit of £1,629). Our net cash in hand at the year end was £34,928 (2020 - £294,886). The previous trustees gave £250,000 to Hampshire Isle of Wight Wildlife Trust as part of a transfer of all reserves other than Mill Copse.
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
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.
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 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The trustees during the year were :
Resigned during 2021: Jill Green ( vice-chairman) Mary Edmunds ( secretary) John Harrison
Appointed 3rd November 2021 Robert Arthur Stephen Cowley Thomas Stephen James Cowley Naomi Cowley Terence Hart
Decision making
The Charity is operated by a Committee of the above Trustees, which meets every three months. There are no sub-committees.
Due to Covid-19 restrictions the committee did not meet in person during the year.
Between meetings executive decisions are made as necessary by the Trustees.
Management Plans are agreed by the Committee and are to be implemented by the Trustees and volunteers.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1173346
Principal address
Lee Barn Lee Farm Main Road Wellow,Yarmouth Isle of Wight PO41 OSY
Trustees
Mrs J Green (resigned 3.11.21) Mrs M Edmunds (resigned 3.11.21) J R Harrison (resigned 3.11.21) R A Cowley (appointed 3.11.21) T Cowley (appointed 3.11.21) T Hart (appointed 3.11.21) Mrs N Cowley (appointed 3.11.21)
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WIGHT NATURE FUND CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner Elizabeth Dack FCA FCCA Harrison Black Limited East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA
Approved by order of the board of trustees on 5th April 2023 and signed on its behalf by:
................................................................. T Cowley - 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 2021.
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 East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA
Date: 5th April 2023
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WIGHT NATURE FUND CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2021 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 5,016 - 5,016 Investment income 2 1,097 - 1,097 Total 6,113 - 6,113 EXPENDITURE ON Charitable activities general 4,655 - 4,655 Other 291,833 - 291,833 Total 296,488 - 296,488 NET INCOME/(EXPENDITURE) (290,375) - (290,375) RECONCILIATION OF FUNDS Total funds brought forward 330,202 - 330,202 TOTAL FUNDS CARRIED FORWARD 39,827 - 39,827 |
2020 Total funds £ 1,392 3,149 4,541 4,661 1,509 6,170 (1,629) 331,831 330,202 |
|---|---|
The notes form part of these financial statements
Page 7
WIGHT NATURE FUND CIO
BALANCE SHEET 31ST DECEMBER 2021
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 5 5,979 - CURRENT ASSETS Cash at bank 34,928 - CREDITORS Amounts falling due within one year 6 (1,080) - NET CURRENT ASSETS 33,848 - TOTAL ASSETS LESS CURRENT LIABILITIES 39,827 - NET ASSETS 39,827 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 5,979 34,928 (1,080) 33,848 39,827 39,827 39,827 39,827 |
2020 Total funds £ 37,116 294,885 (1,799) 293,086 330,202 330,202 330,202 330,202 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. T Cowley - Trustee ............................................. T Hart - Secretary
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 2021
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 2021
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Investment income | 1,097 | 3,149 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,392 Investment income 3,149 Total 4,541 EXPENDITURE ON Charitable activities general 4,661 Other 1,509 Total 6,170 NET INCOME/(EXPENDITURE) (1,629) RECONCILIATION OF FUNDS Total funds brought forward 331,831 TOTAL FUNDS CARRIED FORWARD 330,202 |
Restricted fund £ - - - - - - - - - |
Total funds £ 1,392 3,149 4,541 4,661 1,509 6,170 (1,629) 331,831 330,202 |
|---|---|---|
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 5. TANGIBLE FIXED ASSETS COST At 1st January 2021 Disposals At 31st December 2021 DEPRECIATION At 1st January 2021 Charge for year Eliminated on disposal At 31st December 2021 NET BOOK VALUE At 31st December 2021 At 31st December 2020 6. CREDITORS: AMOUNTS FALLING DUE Other creditors 7. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Freehold Long property leasehold £ £ 19,086 24,202 (19,086) (13,852) - 10,350 - 7,001 - 151 - (2,781) - 4,371 - 5,979 19,086 17,201 WITHIN ONE YEAR At 1.1.21 £ 330,202 330,202 |
Plant and machinery £ 1,293 (1,293) - 464 - (464) - - 829 2021 £ 1,080 Net movement in funds £ (290,375) (290,375) |
Totals £ 44,581 (34,231) 10,350 7,465 151 (3,245) 4,371 5,979 37,116 2020 £ 1,799 At 31.12.21 £ 39,827 39,827 |
|---|---|---|---|
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 6,113 TOTAL FUNDS 6,113 Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 331,831 TOTAL FUNDS 331,831 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 4,541 TOTAL FUNDS 4,541 |
Resources Movement expended in funds £ £ (296,488) (290,375) (296,488) (290,375) Net movement At in funds 31.12.20 £ £ (1,629) 330,202 (1,629) 330,202 Resources Movement expended in funds £ £ (6,170) (1,629) (6,170) (1,629) |
|---|---|
continued...
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WIGHT NATURE FUND CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
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 1.1.20 £ 331,831 331,831 |
Net movement in funds £ (292,004) (292,004) |
At 31.12.21 £ 39,827 |
|---|---|---|---|
| 39,827 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 10,654 10,654 |
Resources Movement expended in funds £ £ (302,658) (292,004) (302,658) (292,004) |
|---|---|---|
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2021.
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WIGHT NATURE FUND CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants - AMLNR Grants - Youngwood Copse Grants - Mill Copse Investment income Investment income Total incoming resources EXPENDITURE Charitable activities Maintenance - AMLNR Maintenance - Mill Copse Equipment Other Donations Long leasehold Plant and machinery Support costs Other Insurance Charity running costs Governance costs Accountancy fees |
2021 £ 1,222 3,265 529 - 5,016 1,097 6,113 117 650 - 767 291,682 151 - 291,833 1,834 614 2,448 1,440 |
2020 £ 664 478 - 250 |
|---|---|---|
| 1,392 3,149 |
||
| 4,541 652 75 351 |
||
| 1,078 - 1,304 205 |
||
| 1,509 2,418 265 |
||
| 2,683 900 |
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 2021
| Total resources expended Net expenditure |
2021 £ 296,488 (290,375) |
2020 £ 6,170 (1,629) |
|---|---|---|
This page does not form part of the statutory financial statements
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