Shared Earth Trust
)nual Repoit and Financial Statements
for the Year Bnded 31 March 2024

Sl)ai'e(l Eai'th I'rust
Colltents (continued)
Reference and Admiiiisliative Details
Trustees. Report
2to7
Statemet]t of I'ius¢ees' ResponsibilitiL%
Independent Examinei s Report
Statement of Financial Activilies
9tolO
Balance Slieet
Cash Flow StatemeTht
12
Notes to the Financial Slateiments
13to25

liared li'AI'tli 'l'i'u5t
Reference and Administrative ljetails
ClIAirman
Dr Glenn Edward Sti'achati
Ti'ustees
Aline tknton
Edward Howai'd
Di. Glenn Edwai'd Slrachan
Maria Wilding
Lind8 Brad51iaw- Wood
Guy Hopwood
1183155
Charity Reglstr&liDn Number
Prillcipal Office
Denmai'k Fanii Conservation Cents'e
Betws Blediws
Lampeter
Ceredigion
SA48 8PB
Independent Examiner
Samantha Hart
LHP Chartered Cei'tified Aceounlknls
Tl Harford
Sgwar Hai'ford
Larnpeter
SA48 7HD
Page I

&ihMI-ed E< Ai-tl) Triist
'rrustees' Report
The trustees piesent tlie annual repoit tDgetlier widi thB fiE)ancial staten)ents of tlie charity for the year ended 31
March 2024.
Objectives gctivities
Obiecls Aiidniptris
The objecis of tlie chai'iry, as rettsrdcd in its constitutioll ale..
To promote the pi'otettion, constrv8tion wid restoiation of floi? and fauna and their habitats, iiicluding through
tli¢ establi$linient, i)ie%¢i'vatitsn and inaintei)aii¢e of Demiiark Farm Conseivation Centre.
And to advan¢e the edu¢ation of the public iii the study of floia and fauna and their protection, coiiservation
and restoi'ation, iiicluding providÉng workshops, traÉning courses and pi'omoting I'esearch, and sharing and
disserninating the 1'P￿Ults of such reseairh for the benefit of the general public.
The above charitable objecls undei'pin specific projects, activities and seivices, which bring people of all ages
and abilities intocontact with the natural envii'oninenl, focus theii. attenlion 011 the vitsl iinportance of
biodiversity, and demoi)strate ways in which eveiyone can suppoit nature 8nd live nioi'e sustainably.
Piibllc bÉnefil
Activities undertaken to ￿rther public benefit Include the provision of courses on ecology and sustainable living
and the Inainlenance of the Deniiiark Fann Conservation Centre.
The trustees confiiTh that they have complied witli the requirements of section 17 of d)e Charities Act 2011 to
have due re8￿.d to Élle public bet)efiÉ guidaTrce published by the Charity Commission for Englalld and Wales.
Page 2

ShAI'Ld al'tli Trust
Trllt>tees' Rei)ort (continued)
Aeliievements and perfoi'man¢e
l) Thc Shaied Earth Trust niaintains and opa'3te5 Ilie Deninayk Farin Cons¢rvation Centre. Tlie nature reseive at
thc C.entre has opeii accESS every day of the yeEr except 25th Dcccmbei.. Access to walk on the trails ai'ound the
nature reserve is free of charge althollgh donations al'e invited. This facility is used regulai'ly by members of the
suriDundit)g coniinunslies.
2) The Shared Earth Tjust offered an exteiisive 17nge of courses on ecology, iiatural craft8 and sustainabl¢
living. These cowses are advei'lised on die website at www.denmai'lcfai'ii).oig.uk and attract participants from
the local ayea as well as mu¢li fvrthei. afield. These courses are a key element of fulfilling tlie &ims of the chai'ity
iii terms of PlDmoting biodiversity, re8toiit)g and consei'ving habitats, and re￿cOnneCting people with nature. The
number of courses offered in 2023124 was 43, and the numbei. of attendees was 265.
3) The Shared Eaiih Trust hosts a sei'ies of m¢etillgs and events througholtt the yeai.. Tliese al'e mainly aimed at
the local community. but also attract participants from furthei" afield. Events it) 2023124 ineluded.. visits from
local faniily centies. wildlife discovery sessions in school liolidays. Young Rangers mtetEngs, Junior Herbalist
Club- eco therapy retreats.
4) The Shared Ea￿1 Trust run i'egular volunteer sessioiis, whieh off¢Y a range of experiences and include
opportunities to development knowledge and skills. The voluEiteei"s make 8 significant ¢ontribution to the
maintenance of the nat￿.e reserve and the running of the organisation. In 2023n4, 43 group volunteering
sessions engased with 166 volunteers.
5) The Shared Earth Trust offer5 accortimodation in the Eco Lodge, dormitory and campsite for residential
¢oui'ses and me¢ling5, or for people who want to visit the nature iEserv¢ and surrounding area. The Eco Lodge is
an impojtant source of income EDr the Shared Earti) Trust. Dllr￿g 2023124 tlie trustees decided to use a
re¢ognised holiday letting agency to promote the Eco Lodge. Frotn the start of the following financial year West
Wales Holiday Cottages will be promotÉn8 tlie Eco Lodge.
61 Grdnt funded activity.
The S￿￿'td Earth Tiust recieved grant tunding from a variety of soui'ces for projects that contributed to
acliieving the aims attd objectives of the chkrity through events and volunteer activities. Some grants also
contributed to the costs of maitttaining the nature ]tsetve and i￿lining the organisation.
Gi'ants received duriiig 2023124..
The Big Give (Green Match Fund)
The D'oyly Carte Cliaritable Tiust {3)
. Garfield Weston fout]dation
Catalyst c)mI￿ (Bi'oadening Horizons)
* Postcode Comtnunity Tiust
• WCVA (Energy EfficEency Survey)
71 T]ie Sh￿'ed E&rth Tn]st worked in partnei'ship with Cynt)al Cymi'u atid CeiEdigion Local Natui"e Parthership
to deliver a nature awareness coutse to Ceredigioii Cowity Council cal'e workei's.
81 The Shared Earth Tiust membersliip scheine coiitinues to service a small, but consistent group of members,
who i'cceiye JEglll8r emaEls and i)ewsletters.
Page 3

Sliai'ed fi artl) Trust
Truste￿, Ileport (¢ontinued)
Fiiiancial revi¢w
Pollcy oil r￿èrVt&
The (rllstees have & Financi31 Reserves Policy, wliich states that "The policy of the Sliared Earth Ti'ust
Chai'itable Incorporated organisatlDn is to hold ut)restricted fuiancig] reseives of a level thal equates to a
IniniTnum of Six inonths iitIL'esti'icted expendiluir. In line with the Charities SORP (FRS 102), section 1.48
(October 2019 edition), tliis policy will be IEviewed as part of the annua5 report and accounts, aiid the actual
reserves held at the ettd of each financial ye￿. will be stated in the ani)llal accounts,"
At 3151 Mai'ch 2024, total unrestricted i'eseives staiid at £734,934 (2023 £707,576). Free i'es¢rYes (con51Sting
of current liquid assets, less curirnl liabilitie5) Irpi¢sentÈng the working ¢apital for the unrestricted a¢tivitiu is
£75,134 (2023 - ll8,910).
Jnves1ipi￿iIp￿I1cY lliiilobje¢liveJs
The CEO constitution goV￿.n8 the tiiisteeg, investmeni powers. The trllstees have a policy of keepllig any surplus
as liquid fvllds in intei'est- eai'ing dtposits, whicli can be accessed re8dily. The trustees air of tlie opinion that
th£ chai'ity hos insufficient i'csei'vcs to wari'ant investment in othtr fomL8.
Strllelure) governamee aiid maiiAgeinent
Naliire ofgoverniiig drfjcuiiieiil
The Shared Earih Twst charity 15 controlled by its governing do¢wnenl, a foiit]datioi) CIO ¢onstitution,
appi'oved by the Charity Commission in April 2019.
The charity was registered in April 2019 for the purpose of replacing the charitable trust number 1004002. also
called the Shared Eai'th Trust.
The charity is goveyned by a Board of Trustees, with new trustees being appointed by irsolution of the Boai'd.
The ti'uslees govern the $trategt¢ direction of tlie Charity in line with its main objeclives as set out in its
constitution.
RecNilliiieiiC fiiid appoliiliiieiil of Iruslees
Dui'ing diis fu)an¢ial year ther¢ were six trustees serving on the Board, there wei'e no resignations or new
appointments dw'ing 2023124. The CIO'S constitutioii allows for a illaximum of ten and the Boai'd is constantly
looking to recruit additional board meinbers witli appi'opriate expertise. The present tivstees have a variety of
backgi'ounds and aieas of expeitise, and individual members take the lead on different issues e.g. financA
conservation, education and legal Inatters. In I'ecruiting new ts'ustees, th¢ Board seeks lo find people with the
appi'opriate skills to fill any poteiitial gaps in expertise.
ArruiigeiiiÉiilsfor sLttiii&J key i?IllFiftgeiiieiilpersoTriiielrefftiiJieralioii
A review of the staflirtg sti'uctlli'e took place towai'ds tlie end of the 2022123 fEn2ncial year as Iloted in the
pi'evious ant]ual repoj't. fhis iesulted in the recTUltinent of additional meniber of staff, meaniiig th2t at the end
of 2023124 Shaird Earth TI￿st had four p3lt (inie staff with a conibllied total of 10.5 staff days pei. week. The
four job roles in alphabetical order are Eiigagemeiit mar￿ger, facilities Mallager, FEnance Mat)ager and Nakni'e
Resejve Manager.
Page 4

Shai'ed Ei Artli Ti'u.%t
Tru$tees' Report {continuLd)
Major risky iiiuiio&rÉpiiÉiii of t11￿￿è rlsks
RiskAsses.g?frienl
The Inajor risks io which the CharEty is exposed, &s identified by the ti'ustees, have been reviewed and systeins
have been established to niitigate those i'ssks. This Encludes standing items on the agenda of trustee meetings
such as.. a declaration of conflicts of intei'est, repoit of l)ealth and safety incidents, aiid individual repoi'ts from
staff oil their areas of IEsponsibility. Detailed monthly managenieiit aLctsunis are circu12ted to Irustees, with tlle
latest versioi) discussed as a standing item at board nieetii)gs, as pai't of the process of mitigating fiiiancial risk.
In addition. feedback from visitors, volunteers and coui%e participants is regularly monitoied.
Fiiianeial instruments
Objeeilves oiidijolici
The ¢harity's activities expose it to o number of financial risks includllig credit risk, cash flow risk and liquidity
risk. The use of fiiiancial derivatives is goveriied by tlie chai'ity's policies approved by the board of trustees,
which pi'ovide wi'itten pi'inciples OM th¢ us¢ of financial deriwa(ives to manage these risks. The chai'ity does not
use derivative fuiancial instruments for speculative pury)oses.
Crerfil risk
I'he charEty's principal financi818ssets air batth balances and casii, trade and other Icceivablc%, and invc8th)cnts.
I'he charity's ci'edit risk is priRwily attributable to its trade receivables. The amounts pre£cnted in tlic halance
sheet are net of allowances for doubtful receivables. An allowaiice for iinpaii'ment is made where ther¢ is an
ideiilified loss event wliich, based on previous experience, is evidence of a reduction in the recov¢rability of th¢
cash flows.
The credit risk on liqusd funds and derivative flnancial iiisti'uments is liniited because the counterpartiu are
bat)ks witli high credit-rating5 assi&￿ed by international citdit-rating agencies.
The charity has no signifjcant coiicentsztion of CiEdit risk, with exposure spread over a large iiillmber of
counterparties and customers.
Liquifllty rlsk
In oi'dti. to maintaill liquidity to ensure that sufficient fi￿dS are available for ongoing operatiotks and fiEknre
developments, the charity uses a mixture of long-tenn and short-teim debt fillance.
Fuither details regarding liquidity risk can be fowid in the Statement of accountÉng policies iti the flliancial
stat£ments.
Page 5

lixred li Arth 'l'rust
Trustces, Report {coiitinued)
Stateihent of Tru5tees' Responsibilities
The tsustees are irsponsible foj. preparii)g the tii]stees' report and the financial stateiiientg in a¢¢ordaii¢e witli the
United l<ingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Praciice) and
applicable lam, and regulatioiis.
The law applEcable to charitie5 requires the ttuslees to pi'cpar¢ fiiiallcial stateineiits for each fii)anciai yeai. wliich
give a true and fair view of the state of affaii's of the ¢liai'tty and of the incoii)ing resources and application of
resourccs of the chai'ity for tliat pei'iod. In preparing these financial statements. the ts'ustees are required to..
s¢le¢t sui¢abl¢ ac¢ountiRg policEts and th¢n apply them ¢onsi5tently-
observe the methods and pi'ineiples in the Charities SORP,.
make judgements and estiniates that are ￿asOnable and prudenl
slate whether applicable accout)¢itig standai'ds have been followed. subject to any Inaterial dep￿'tulPS
disclosed and explained in Ihe financial statements., and
pIEpare the financial statemeE]ts on the going ron¢¢rn basis uvl¢ss it is inappropriate to presume that the
charity will continue in business.
The th￿tteS al'e responsible for keepiiig proper aceounting records that disclose with reasoiiable accu]7cy at any
time the financial position of the eharity and enable Ihcin to ensure that thc fJntTkci&I stateniejits cnmply with the
Chayities Act 2011, the Clilli'ilies {Accounts and Reports) Regulations 2008, and the pravi%ian% of the
cottstitiitioll. The ENStee& are also i'esponsible for safcguardittg thc asscts of the charity and l)enc¢ for taking
reasonable steps for the prevention and detection of fr&ud and other iiyegularities.
The kni]slees are responsible for the maintenance and integi'iry of the corporate and fii)ancial infomiatÈon
included on the charitable company's website. Legislation governing the pieparation and dissemination of
fmancial statements may differ from legislation in other jurisdictions.
Pag£ 6

rrd Earth Trust
Trusttts, Report (eontinued}
Pl#lls for periods
Alm￿ ￿￿keY Ob￿d￿fvIN￿rePEr1Q4
The Shared Earth TTUa will continue to develL¥p new cour5¢¥ ¢v¢nts ¥tyJ arttvitie5 Providing opportitillti¢5 for
learner& volunteers and people of ages and abilitie5 ro eng¥g¢ with n*W¢.
The maintsinin& and ￿cordIn& of biodiverssty on the site will A 'bioblitt' local
ecologists will be held thw¥ng the coming year.
developtDerf of PAthg b1)ardw￿.
The Shared Tn]si will s¢ek to extend its links wmh locai cffganisations incI￿al￿g SCI￿lS comrnwty
The ongoin8 programtt￿ of buiiding ￿￿￿TrIen8nCe will continue. the £￿tCoMeS of the energy survey
c(Hnpleted during this year wAll be in¢orporatrd Imo the developmem plans of the coming yeor.
The annual report n?
pprovEd b
ol-t
charity on..-......-.-._. signed (n its behalf by:
ELlw81'd Howard
Trnstee
lenn Edward Sirachatt
Chairman and tnLqe¢
Pd¥e 7

,Sliar¢d Ea¥tli Ti'uit
Independent Examiiier's Rei)oi't to the trustees of Shared Earth Trust
116port to the trnistees on i)ry examination of the accouiits of Sliai'ed ￿11) Trust foi. tlie ye￿. ¢nd¢d JI Mardi
2024.
Respotislbllllles and b2sls of repDI't
As the charity truslecs of Sh81ed Earth Tnisl you are re5POi)5ible for the pycpuratioii of ihe accoun15 1
ac£ordai)c¢ witli the r¢quiremenls of tlie Charilics Act 2011 I'the A¢t').
I report in respect of my examiThalion of Ib6 Shared Earth Trnsvs accoun15 caiiied oui under sectioii 145 of tliE
2011 Act and in carryiiig out iny ¢xamination I hav¢ followed all Ihe appli¢able Direclionx given by Ilje Charity
ComJnis8ioD uThder section 145151{b) of t]￿ A¢t.
IDdependent tX8mlner's stlltement
I h&ve coinpl¢ted my examination. I confim] that no material matters have come kn my atttlltion in cot)nectioJi
wiilj the examination gsving me cause to believe tljat in any Jnaterial iespect..
accounti1￿ re¢ord5 were not k¢pl in r¢sp¢et of Shared Earib Trust as reqiiir¢d by s¢clion 13a of lh¢ A¢t' or
2. the accounts do not accord with thos¢ re¢oiYls' or
3. the 8ccounts do not coinply with the aecoutsting requircnKnls ¢onecrtiin£ the fomj aiid Content of ￿COunts
set out sJJ th¢ Ch8riti¢s (Aceounts and Repoi'ls) Regulatto1￿ 2008 other than aiiy requirement tljat the
accoutits gtve a 'tnJe Al￿ fair vicw whtch is nnt a Jnattci. considcrcd a8 pait of an indcpend¢llt
Lxaminlltion.
I have im) coiicerns and have come across no 011￿r mallers in connection with the examination to which &ttelllion
should b¢ drawn iti tiiis report in order tc ￿#ble a piop¢i' 1￿d6r5tandiI)g of the aCCDiMJts to be rcached.
S&mantha Harl
LHP Chartered Certified Ac£ouiilants
FCCA
Tl Harford
Sgwar14arford
Lampeter
SA48 7HD
Page 8

Shaz'Ld l=.
i Artli I'i'u.4t
Stalement of f4 inancial Activities for tlie Year Ci nded 31 March 2024
Uiirestrleted
funds
Restriete
runds
Total
2024
Note
liicoTriie and li ndowments fro￿.
Donations and legacies
Cliai'itablc activities
Ouier tradiiig activities
Othei. income
57,934
54.213
2,851
13,590
57,934
109,645
2,851
13,590
55.432
Total income
128,588
55,432
184,020
Expenditure on:
RaisEn8 funds
Charitable activities
(I,xoi)
199,429
(1,201)
141,284
41,855
Total expenditllre
{101,230)
41,855)
143,085)
Net income
27,358
3,577
40,935
Net movement in funds
27,358
13,577
40,935
Reeoncilialinn of funds
Total ￿ndS brought fotwai'd
707.576
5,995
713,571
Total fi￿dS ca]Tied forward
734,934
19,572
754,506
The notes on pages 13 to 25 form integral part of these fillancial statements.
Page 9

Slilired Ei artli Triist
Statement of Financial Activities for the Year Ended 31 Mareh 2024 (eontinu¢d)
Uiirtstriettd
ruthds
Resti'ieted
runds
Total
2023
Note
Int(Jme and F.ridawinents fi'oin:
Donations at)d legacies
Chai'itable activities
Otliei. trading activities
Other inconie
8,891
58,485
3,993
10,302
8,891
67,991
3,993
10,302
9,506
Totsl irtcome
81,671
9,506
91,177
I xpendltui'e ot):
Raising fi]nds
Charitable activities
(2,527)
(94,090
(2,527)
(128,396)
(34,3061
Total expenditure
196,617)
{34,306}
(130,923)
Net expenditure
14,946
{24,800
(39,746
Net movement in funds
{14,946)
(24,800)
{39,746)
Recollciliation of funds
Tot81 funds bi'ought fonvArd
722,522
30,795
753,3 17
Total funds carried forward
707,576
5,995
713.571
All of the chariry's activities derive fi'om continuing operations during th¢ above two p￿'10dS.
The funds breakdowt) for 2023 is shown note 18.
The thotes pages 13 10 25 foimi an integral pw't of tht%e fuiancial stateineEIts.
Page 10

13
1.7
852J(h>
14
15
?40
119
61.432
99.688
61551
16
(4.98?
{16,646)
c•rrent •Mets
94.71
44.905
940.431
897205
17
191.9?5>
1183.634
754.5(
713.571
rfthe ¢h•Tity".
Restrieted ineomt fuThtts
Restric*d fiwrds
19.572
5.995
Unrestrnted Ineome fends
Unre5rrictrd funds
Revaluation reserve
4WJ.465
373.107
3J4.469
734.9i4
707.576
TotAI fuTrdy
18
754.506
71i.571
The fjnancial ststements on p3ges 9 10 ?5 wert apwoved by the trus*e& and auth￿ for issue on
.. Si￿ed on their be
Eilward I Ic)i%',Ir
Trn5tee
Dr Glenn Edward Stradwi
Ch&irnwi and trustee
The notes page5 1) w 25 forni an integral part of financial sthremen
Pagell

liai'L.d f4,111'tli I'ru8t
Cmsh Flow St#temLnt for the Ye#r Ei nded 31 Mareh 2(b24
2024
2023
Ivole
Cash l]ows trom operating activities
Net césh incomel{expenditure)
40,935
(39,746)
Adjustments to eash flows from mon-eash items
Depreciation
Accyued expenseslincome
Inteiest payable
575
767
31,977
12,784
5,782
12,788
54,298
Workfimg eapltal adlusémcnts
(Increase)/deci'ease in debtoi's
Decrease in creditOl'8
14
16
(361
(201)
Net cash l]ows from operating activities
54,141
5,652
Casli t]ows from financing activities
Intei'est paid
Repayjiienl ofbattk borrowings
Procecds fronl other borroivii)gs during the period
{12,788)
(3,337)
(12,784)
802
Net cash flows froni Y￿ancIng actÉvities
Net in¢re8sel{decr¢as¢) it) ¢a$h and cash equivalettts
Cash and cash equivalents at l Api'il
116,125
(11,982
38,016
{6,330)
67,762
61,432
Cash and cash equivalents at 31 March
61,432
All of the ¢ash flows are derived from eoi)tinuing operations durtng the above h¥0 periods.
The notes on pages 13 to 25 foll￿ an integial pari of tliese fiiiancial statements.
Page 12

S'liared fi Arth Trusl
Notes to the Fi inalleial Statements for (he Year Ei nded 31 March 2024
l Aeeounling pTrli¢ies
St2teinent of compli&nee
Tl)e fllianci81 statements have beell PlEpared in accordance wilh the seeond editiun of the Chai'ities Statement of
Reeommended Practice issued iii October 2019, tlie Financial Reporting Staiidard applicable in the Ui)iied
l<ingdom and Republic of Ireland IFRS 102) and ttie Charities Act 2011.
Hagi$ of pi'epgration
Shared Eaiih Trust 1neets tl)e def￿]llOn of a public benefit entity under FRS 102. The accounts (financial
statements) have been prepAred under the historical cost conveniion with iteins Ircognis¢d at cos( or ttansaction
value Unless otherwise slated in the relevant nole(s) to these accounts.
Going eoiieern
The trustees ¢onsider that there are no material uncertainties about the charitls ability lo continue as a goEng
concern.
Incoine and endowments
Voluntai'y income including donations, gifts, legacies and grants that ￿'0VIde core funding oi. al'e of a general
iiature is I'ecognised when the chariry has entitlement to th¢ incomc, it is probable that the income will b¢
received and the ainount can be ffteas￿ed with sutTicient reliability.
Doiiulion.$ oFid legocies
Donations and legacies are recognised on a reccivablc basi$ when receipt is probabl¢ alld the can be
reliably Inea.%uied.
Graiits receivable
Grants are recognised when the c[￿rity has an ¢ntitlement to the fijnds and any conditions linked to the grants
have beeti met. Wliere perfomiance conditions al'e attached to the grant and al'e yet to be met, the income is
re¢ognised as a liability and included on the balance sheet as deferred income to be released.
ExpeDdilui'e
All expenditure is recognised once there is a legal or consttuctive obligation to that expciiditure, it is probable
seitleinent is required and the amount can be In¢asured reliably. All o)8ts are allocated to the applicable
expendilui'e headllig that a&￿'egate similar costs to that catego&y. Where cost4 caniiot bc directly &ttritJiited to
particulai. headings they have been allocated on a basis consistent with the use of resour¢¢s, with central staff
costs allocated on the basis of tinie spenL and depreciation charges allocated on the portion of tlie ass¢t's use.
Othej. &Lipport costs are allocated based 01) the spread of staff costs.
R￿lSing￿li)I￿S
These are ¢0st$ iiicun.ed lli atts?cting voluntary income, ti)e management of iEivestnien*s and those inCLirred in
trading activit5es that raise ftmds.
Chtsrlltsble &cllvllies
Chpritable expenditUlE compri5e5 those costs iiicui'i'ed by the chai'ity in the delivei'y of its activities and 8ei'vices
for rts benefIciaries. It includes both costs that can be allocated dsrectly to such activities and those costs of all
indirect natllre necessary to support them.
Page 13

Sl)al'Ld Ii'.iirtli I"I'u5t
Notes Éo the Financial StatLments foi. the Year Ei nded 31 March 2024 (continued)
Suppoyt costs
Support Costs iiiclude centt?I functions and have been allocated to activity wst categories on a basis consistent
with Ilic use of restsurces, for exaniple, allocating pi'operty costs by floor areas, or per capita, stalF costs by the
tlme spent aiid other costs by theEI' usage.
Goveriiartce cost5
These ii)¢lude the costs attributable to tlie eharity's compliante witli cDt]stitutional and statutory requireinents.
including audit, strategic manageinent and tr118tees meetings and reimbw'sed expeiises.
GovernmeAt grants
Government ￿antS are iecogni8ed b&fcd on the acen]al Inodel and measured at the fail. value of tbe asset
received ov receivable. Gi?nls al'e classified as relating either to r¢venu¢ or to assets. Grants relating lo Yevenue
are recognised in ineome over the period in which the related costs ore r¢¢ogrhis¢d. Gronl$ relating to assets are
recognised over the expected useful life of the asseL Wheie pait of a yJant relating to an as$¢t is deferiEd, it is
recognised as deferred ￿ncoMe.
Taxation
The clwity ss considered to pass the tests set out in Pai'agraph I Schedule 6 of the FÈnan¢e A¢t 2010 attd
thej'efore it meets the definition of a charitable company for UK Corporation tax purposes. Accorditigly, the
chwity is potentially exempt from taxation in respect of income or capital gains received within c8tggories
covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gaiiis ACÉ 1992, to the extent that such income oi. gains are applied exclusively to chai'itable purposes.
Tangible fixed assets
Individual fixed assets are initi&lly recoiyled at cosi less any subsequent a¢cumul&ted depreciation and
subsequent accwnu5ated impairnient losses.
Depreciation amortlsgtloii
Depi'eciation is provided on taiigible fixed asgets so as to write off the cost or valuation, less any estimated
residual value, ovei- their expected use￿7 economie life as follows..
Asset cla$5
Plant and lltschinery
F'ixtur& and fittings
Equipinent
Depreciation metliod alld rat¢
250/0 redueirtg b21ante
250/0 reducing bal8nce
25010 reducllig balance
Trade debtor5
Tiade debtors are amounts due frojn customers for merchalldise sold or seivices perfornjed in the oi'dinary
course of business.
Trade debtors are I'ecognised iiiitially at the ti'ansaction price. They are subsequently Ineasured at amorlised Cost
using the effectivc intcrc8t method, less provisiot) foi. impairnleiit. A provision for the inipaimient of trade
debtors is eslabli.%hcd wheii Ihcit is objective evidence that the charity will not be able to collect all ainoun¢s due
according to tlie original tcrms of the reccivables.
Page 14

SlIArcil ￿:￿l.t11 'fi'u8t
Notes to Ihe fi iiiaiiclal Statements for the Year Ei nded 31 March 2024 (cuntinucd)
Cash and eAsh equivalents
Cash and cash equivalents ¢omprise cash oi) hand and Call deposits, other short.temi liiglily liquid
investments that are readily conveilsble to a kniown atnouiit of cash and are subject to insignificant risk of
thènge in value.
Boyrowings
Intei'est-bearisig boiyowings are initially recorded at fair value, net of tixnsaction costs. Interest-bearing
boYrowinLs 3re 5ubseqLiently carried at ainortised Cost, with the differente between the pi'oceeds, net of
¢i'aTL$acLion costs, and the ￿llOunt due on IEdemptiot] being recognised as a charge to the Statement of Finan¢ial
Activitics ov¢Y th¢ p￿.10d of tlie relevant borrowing.
Intcrcst exp¢nse 18 rt¢ognised ott the basis of the effective int¢rcst niethod and is included in interest payable
and similar chai'ges.
Bori'owings are classified as cwyent liabilities unless the charity has an uncondiLion21 right to defei. settlement of
the liability foi. at least twelve nionths after the reporting date.
Vlllld structure
Unrestricted income funds are general fi￿dS that are available for use at the trustees discretioii ii) fuitherance of
the objectives of the chai'ity.
Rests'i¢ted income fimds 21'e tl)ose donated for use in a particular area or for specEfit purposes, the use of which
is resti'icted to that area or purpose.
Financial in5ti-umeAts
Clffts&lJletsiloiJ
Fiiian¢ial assets and fEnancÉal liabilities are recognised wlies] the ¢hai'Èty becomes a party to the contractual
provisions of the instrumetit.
Fit)ancial liabilities and equity instnllnents are classified according to the substance of the Contractual
&rrangements enteiEd iDto. Ati equity instrument is any contract that evidences a residual ii?terest in the assets of
the charity after deductiiig all of its liabilities.
PagBIS

SliarLd r.Ai'tli Ti'iist
Notes to the fi inancial Statements for the Year fi nded 31 Mai'ch 2024 {eontinued)
RÉcéJgiiilioii rtiid iiiÉftsiireiiieiil
Ali riiiancial assets and liabilities ale iiiitially Ineasured al ts%n5action pi'ice1snGluding transaction ¢osls), except
for those fEnaiicÉal assets Classified as at fail. value through profit or luss, wliich i*r¢ initiiilly measured at fair
value (which is normally the transaction price excluding ti'aiisactioii costs), unless the arrdn¥ement Ctsnstitutes a
fiiiancing transaction. If an ai'rangement constitutes a f￿naliCi￿8 traiisaciion, the fmancial asset oi. financial
liability is nieasuj'ed at the pre&eiit value of the futui'e payiiients dÈscounted at a in￿'ket rate of interest foi. a
siniilai. debt instrumenl.
Financial assets and liabilitEes are only offset in the statement of financial position Whe￿ and only when there
exists a legally enforceable l'ight to set off the recogtjised amounts the charily intends either to settle on a
nei basis. or to i'¢alise tlie asset and settle the liability siniultaneously.
Fiiidncial assets are dei'ecognised whell and only wlien a) the contrdctual l'ights to the cash flows from the
financial asset expii'e or are settled, b) the cliai'ity transfeis to another party substantially all of tlLe risks and
i'ew￿.dS of ownership of the fjiiaiicial asset, or c) the chai'ity, despite having ietained some, but not all,
signÉficant risks and rewai'ds of ownership, has transletted control of the asset to another party.
Financial liabilities al'e derecognised only when the obligation specified in the contra¢t is dE￿h￿ed, cancellea
or expires.
Folp vtslue iiiellsiireiiieiil
The best evidence of fair value is a quoted price for an identical 2sset in an active mai'ket. When quoted prices
are unavailable, the price of a recent transaction for an identi¢al asset provides evidence of fair value as long as
there has not been a significant change in econoinic Circumstances oi. a sigiiificant lapse of time since the
transaction took place. If tlie market is not active and IE¢ent tratisactions of an sdentical asset ott thell. owl al'e
iiot a good estimate of fair v&lue, the faÈr value is e5tin)ated by using a valuation tecl]niqu£.
2 Incoine from donations and lega¢ie5
Unrestricted
fuiid.
G¢ner#l
Total
funds
Donations and legaeies.
Donations
Subscriptions
Grants, including capital gi'ants.
8￿]C Payment Scheine
Glastir Agi'eeinent
Fy Nglioeden, Eiii Coedwig
51,299
1,550
51,299
1,550
1,917
2,168
I,ooo
1,917
2,168
1,000
Tot21 for 2024
57,934
57,934
Tot&l foi. 2023
8,891
8,891
Page 16

ShAJ'ed fijartli Trust
Notes to the Financisl Slatements foy the Year Ellded 31 March 2024 {contiiiued)
3 ID¢ome frouk charitable activliies
Uni'esti'ieted
funds
Ctner&l
Restricted
funds
Total
fuiids
Course income
Campsite fees
Dorinitory ittcome
Eco LA)dge hll'e
Farnihouse Iieating
Farmhouse rent
Venue hwe
Cynnal Cyi)ll'
Catalyst Cyni'u
GaLfield Weston Found&tion
Postcode Community Trust
The Big Give
WCVA
21,240
998
1,275
18,820
490
21,240
998
,275
18,820
490
7,620
3,770
1,750
2,829
15,000
25,000
9,853
1,000
7,620
3,770
1.750
2,829
15.000
25,000
9,853
1,000
Total for 2024
54,213
55,432
L09,645
Total foi. 2023
58,485
9,506
67,991
4 Ineome from other trading activitÈes
Uiiresti'leted
funds
G¢neral
Tolal
runds
Trading income.
Shop income
2.851
2,851
Total (01. 2024
2,851
2,851
Total for 2023
3,993
3,993
Page 17

,Shared E< artli Ti'ust
Nut(s to the Financial Statements for th¢ Year Ended 31 March 2024 {¢ontiiiued)
S Other iiicoine
Unresti'ieted
fvllds
General
Total
fu￿dS
Tariff iiicome
Insurgnce claim
Inteirst on Casli deposits
Other exceptional income
5,508
6,477
1,602
5,508
6,477
1,602
Total for 2024
13,590
13,590
Total for 2023
10,302
10,302
6 Expenditui'e on raising funds
a) Costs of trading acliyiti
Unrestricted
funds
General
Total
funds
Note
Costs of goods sold
1,801
1,801
Tol&l for 2024
1,801
Total for 2023
2,527
2,527
Total
costs
Y Expenditure on ch2rltable activities
URrestricted
funds
General
Restricted
fuiids
Total
funds
Note
Charitable activity
Staff costs
Allocated suppojl costs
Governance costs
29,024
41,890
26,452
2,063
29,459
12,396
58,483
54,286
26,452
2,063
141,284
Total for 2024
99,429
41,855
Total for 2023
94,090
34.306
128,396
Page 18

Sh#i'ed Fi.xrtli Trust
Notes to the fiinAncial Statemeiit.$ foi. the Year Ended 31 Marcli 2024 (continued)
Total
expenditure
8 Analy$És of governance and support Costs
Governaiice eosls
Unrestricteil
fuiids
General
Total
funds
Depreciation, aniortisation and othei. similay costs
Allo¢ated support costs
575
1,488
575
1,488
Tolgl for 2024
2,063
2,063
Total foj. 2023
2,050
2,050
9 Net Ineoinillglovtgoing resollrce5
Net incomi￿￿{0Ut2Dlllg) resow'ces for the year include..
2024
2023
Depreciation of fixed assets
575
767
10 Trustees remllneration and expenses
No tiustees, nor any persons coiinected with thetll, ltswe received any reinuneration from the charity during the
year.
No ti'uste¢s have received any irimbursed expenses or any other benefjts fix)m the charity duTillg the yeav.
11 Stkff eosts
The aggiegate payroll cosls wei'e as follows..
2024
2023
Staff costs duriiig the year ivere:
Wages and salaries
54,286
46,917
Thc manthly tverage number of persons {includiDg senioi. management I leadership teani) employed by the
charity duritig tli¢ yeai. expi'essed as ￿11 time equEvalenls was as follows..
2024
2023
Nuniber Df staff
Page 19

Sliared li %t"tli Tru,8t
Notes to the Financial Statements foi. the Year Ended 31 March 2024 (Continued)
No employee received emoluinents of mole than £60,000 duiing the year
Page 20

Sli#i'id f4 artli Ti'u8t
Notes to the Financial Statements for the Year Ended 31 Marcli 2024 (continued)
12 Taxatlon
The charity is a regisl¢iEd ¢liarity and is tlierefore exempt froni tsxatioii.
13 TattgÈble fjxed Assets
Land and
buildings
Flxfures
fittings
Equipnient
machiiiery
Tthta
Cost
At l Api'il 2023
850.000
1,938
2,626
351
854,915
At 31 March 2024
850.000
1,938
2,626
351
854,915
epreciation
At l April 2023
Charge for Ihe yeÉw
219
33
2,615
575
182
360
At 31 March 2024
1,393
1,545
252
3,190
Net book v*lu¢
At 31 March 2024
850,000
545
1,081
99
851,725
At 31 March 2023
850,000
727
1,441
132
852 300
Page21

SIAxrLd 14 111.tli Tru4t
Notes to the fiinancial Statements for the Year nded 31 Mv4rch 2024 (colltinued)
Revaluation
Thc fair v8luc of the eompany's Land and buildings was ievalued on by an sndependent valuer.
Frcchold propeity comprises of the lat)d at Delynark Fai'ni,the confei'ence ceiitsr, F&rtnhouse and Ecolodge. The
properties were all valued for the piiipose of their transfers into tlie CIO from the origin eompaiiy aiid tharity at
their insui?n¢e valuotiolls on the 29 Octobei. 2021. The valuaiions wei'e carrÈed out by Andt'ew Moi'gan FRICS
FAAV on behalf of Morgan and Davies. Tlie bO￿.d will consider the valuati￿7 annually olig0￿g.
Had ihis class of asset been nieasuTed on a historical tost basis, their ¢atrying amouiit would have been
£515,531 {2023 - £515,531).
14 Debtors
2024
2023
Trade debtOTS
240
119
15 Cash cash equivalents
2024
2023
Cash on hand
Cash at batth
757
98,691
99,448
1,024
60,408
61,432
16 Credilors: ainouiits falling due withiN on¢ year
2024
2023
Bank loans
Otliei. laxJtiOn ond so¢Eal security
Accruals
3,500
258
15,128
198
1.320
4,982
16,646
17 Ci'edilor$: aniounts Calling due aftey one year
2024
2023
Bank loans
191,925
183,634
Page 22

SlIAI'id f4 #rtli Trust
Notes to the Finr•ncial Statements for tlie Year Ended 31 March 2024 (contiilued)
18 Funds
Balanee al I
April 2023
Imeoming
re$ouYce5
Resource5
expended
Balanee al 31
Mareh 2024
Uni'estricted funds
GÉFierlll
General Funds
Revaluatioii Reserve
373,107
334,469
128,588
{101,230)
400,465
334.409
707,576
128,588
(101,230)
734,934
Restrlcted fund5
National Lottery ComTnunity
Fund 2022 (D¢nmark Fann
Gl'owing Space)
The D'oyly Carte Charitable
Trust 2022
Thc D'oyly Carte Charitable
Trust 2023
Cynnal Cymru 2022 (Nature
Wis¢)
Catalyst Cymiv 2023
{Broadening Horizons)
Garfield Weston Foundation
Grant 2023
Postcode Community TNst
2023-2025
The Big Give (Green M&tch
Fund)
WCVA 2024 (Energy Efticiency
Sutvey)
238
(238)
267
{267)
5,490
(5,490)
1,750
(1,75a)
2.829
(2,424)
405
15,000
(15,000)
25,000
(6,833)
18.167
9,853
(9,8521
1,000
1,000
5,995
55,432
{41,855)
19,572
Total funds
713,571
184,020
143,085)
754,506
Page 23

Shai'L.d li ai'th Ti'llst
Notes to tlie Finaneial Stalements for the Year E4 llded 31 March 2024 {eontinued)
Balance at I
April 2022
Incoming
I'uoui'¢es
Resources
expended
B81ance al 31
March 2023
Unresli'icted fuiid5
GeiierRI
Genei'al Funds
Revaluation Reserve
388,053
334,469
81,671
(96,617)
373,107
334,469
722,522
81,671
(96,617
707,576
Restriete41 funds
National Lottery Community
Fund 2022 (Dernnark Fai'm
Gix>win8 Space)
Biodivei'sity & People
The D'oyly Carle Cliaritable
Trust 2021
The D'oyly Caite Charitable
Trust 2022
The D'oyly Carte Chai'itable
Trust 2023
10,000
6,507
19,762)
(16,507)
23S
288
{288)
4.000
(3,733)
267
5,986
(496)
5,490
Cynnal Cy)Iru 2022 (Nature
Wisel
3,520
9,506
(3,520)
34,306
30,795
5,995
Total fullds
753,317
91,177
130,923)
713,571
19 An21y5is of net assets bctween (unds
Ulli-e$tricled
funds
Gen¢ral
Total fuiids at
JI March
2024
Restricted
funds
TangÈble fixed assets
Cuiyent assets
Cutreni liabiliiies
Creditors ovei. l ye&r
851,725
80.116
(4,982)
(191,925)
734,934
851,725
99.688
{4,982)
(191,925
754,506
19,572
Total llet assets
19,572
Page 24

SlIAred fi.Mi-tli 'l'ru4t
Notes to the Trinalleigl StAteMLnts for Élle Year Ei nded 31 Mar¢h 2024 (continued)
Urti'estrieted
funds
Gentrgl
Total fijnds at
31 Mareh
2023
Restrif ted
funds
Tangible fixed as$etS
Current assets
Current liabilities
Credttors ovei. l year
852,300
55,556
116,646)
(183,634)
852,300
61.551
116,646)
{183,634
713,571
5,995
Total net assets
707,576
5,995
20 Aiialysiy of net funds
At l April
2023
Finanein¥ cash
floivs
Ai 31 March
2024
Cash at bank and in hand
Debt due within one year
Debt due after more than one yeai.
61,432
(15,128)
{183,634
38,016
11.628
8,291
99,448
(3,500)
191,925)
Net debt
137,330)
95,977
2] Related party tf211saetlons
There were no i'elated party transactions iii the year.
Page 25

Sliared fi Artli Trust
Statement of Financial Activities by fulld for the Year Ended 31 M*i'¢h 2024
Total
Total
Uiirestrieted UNrcstri¢ted
Funds
Fuiids
2024
2023
Ineome and ndowni¢nls fi'om:
Donations and legacies
Charitable activities
Ot]ier tradiiig actlVEties
Othei. iiiconie
57,934
54,213
2,851
13,-590
8,891
58,485
3,993
10,302
Total inc￿ne
128,588
81,671
ExpeDdi(ure on:
Raising ￿ndS
Chai'itable activities
(1,801)
199,429)
{2,527)
(94,090)
Total expenditure
(101,230)
{96,617)
Net incomel(expenditure)
Net movemeiit in funds
27,358
{14,946)
27,358
{14,946)
Reconcill8t5on of fvnds
I'otal futids bi'ought forward
373,107
388,053
Total fimd5 C￿Tled forward
400,465
373,107
This page does not foi'm p&rt of the slatuloiy f￿anCIal stateinents.
Page 26

Sliai'ed I:.
l Artl) 'fruit
Statement of Finydncial Aetivities by fund for the Year Ended 31 March 2024
(eontinued}
Total
R¢strickd
Funds
2024
TotAI
Resti-iet£d
2023
Ineome And ndowments from:
Chai'itable aetivities
55,432
9,506
'rotal ijicome
55,432
9,506
F.xpendilure on:
Charitable aetivities
{41,855)
(34,306)
Total expenditure
(41,855}
(34.306}
Net illcomel(expenditure)
13,577
(24,800)
Net movemetit ik) ￿ndS
13,577
{24.800)
ReconcilÈatioll of fund5
Total ￿ndS brought foiivard
5,995
30,795
Total fiEnds carried fotward
19,572
5,995
This page does noL fom part of the $tatutoi'y fmancial stat¢ments.
Page 27

Sliared 14 kll-th Ti-ust
Detailed Statcm¢nt ofFinancial Aetivities foi. the Yeai. Elnded 31 Mllreh 2024
Total
2024
Total
2023
Income and Eiidowinents from:
Dongttiotts athd leg8¢ses {aTJalys¢d below)
C]iaritable activities laiialysed below)
Othei. ti'ading activities (analysed below)
Otlier income (analysed below)
Total income
57,934
109,645
2,851
13,590
8,891
67,991
3,993
10,302
184,020
91,177
Expenditui'e oll:
Raisiiig funds (analysed below)
Charitable activities laii&lysed below)
Totsl expenditw'e
Net iiicomel{expenditure)
{1,801)
(141,284
{2,527)
(128,3961
(143,085)
(130,923
40.935
139,746
Net movement fvnds
40,935
(39,746)
Reeoneiliatioik of funds
Total funds brought foiward
379,102
418,848
Total fiuids Cai'ried foiivard
420,037
J79,102
Tliis page does not form pait of the statutory f￿anCIal statements.
Page 28

ShMI'Ld Ai'tl) I'rusl
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
(continued)
Total
2024
Total
2023
Doitfflloiis aiidleg4cies
Donations
Grants
Subscriptions
51,299
5,085
1,550
2,896
5,106
889
57,934
8,891
Chorilobl¢ ucliwli£s
Coneerts
21,240
998
1,275
18,820
490
7.620
3,770
1.750
16,867
1,823
2,174
25,164
900
7,440
4,117
3,520
5,986
Cat]ipsite fees
Dormitory income
Eco Lodge hire
Farnthouse heating
Trarthouse rent
Venue hire
Cynnal Cymru
The D'oyly Carte Charitble Ti'usi Project 3
Catalyst C)qnru - Broadening Hori£ons PIM)ject
GaifIeld Weston Foundation 2023
Postcode Commutjity Trtt￿ 2023-2025
The Big Give
WCV A- Ellergy Efficiency Swvey 2024
2,829
15,000
25,000
9,853
1.000
109.645
67,991
Olher Irtsdliig aclivilies
Shop income
2.851
3,993
2,851
3,993
Oilier iiicoipie
Tariff income
Terra Cycle Redemption
Insurance cltLim
Interest on cash deposits
Orher exceptional income
5,508
9,923
6,477
1,602
335
13,590
10,302
Ral$iii¥fuRds
Shop cost5- puI'¢hases
1,801
{2,52
(1,801
2,5271
Cliurlluble uellvliles
Chai'ttable activities direct costs
(58,4831
(55,7671
This page does not form pait of the stat￿tOry finEncial statements.
Page 29

SharLd Lai'lh 'frusl
Detailed Statement Of Financial Activities foi. the Year li nded 31 March 2024
(¢onlinucd)
Totsl
2024
Totgl
2023
Purcliases
Insurance
Othei. eslablishn)et)t cost5
Office expenses
Trade subsci'iptions
Marketing
Legal and professional fees
Interest oll bank loans and ovei'drafts
Depreciation, aniortisation and other sitnilar costs
Alloeated support costs
Staff costs
(422)
(3,479)
(5,907)
(1,124)
{942)
(1,354)
{1201
{13,104)
{5751
{1,488)
(54,286)
(141,2841
{129)
{3,085)
(3,897)
(4371
(3,330)
(12,784}
(7671
{1,283)
(46,917)
(128,396
This page does not foi'm pait of the statutory flnancial statement5.
Page 30