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2025-03-31-accounts

Charity registration number: 1183155

Shared Earth Trust

Annual Report and Financial Statements for the Year Ended 31 March 2025

Shared Earth Trust

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 7
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Financial Statements 13 to 24

Shared Earth Trust

Reference and Administrative Details

Chairman Dr Glenn Edward Strachan Trustees Aline Denton Edward Howard Dr Glenn Edward Strachan Maria Wilding Linda Bradshaw - Wood Guy Hopwood Mr Andrew Polkey Charity Registration Number 1183155 Principal Office Denmark Farm Conservation Centre Betws Bledrws Lampeter Ceredigion SA48 8PB Independent Examiner Rhys Jones LHP Chartered Certified Accountants Tŷ Harford Sgwâr Harford Lampeter SA48 7HD

Page 1

Shared Earth Trust

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2025.

Objectives and activities

Objects and aims

The objects of the charity, as recorded in its constitution are:

• To promote the protection, conservation and restoration of flora and fauna and their habitats, including through the establishment, preservation and maintenance of Denmark Farm Conservation Centre.

• And to advance the education of the public in the study of flora and fauna and their protection, conservation and restoration, including providing workshops, training courses and promoting research, and sharing and disseminating the results of such research for the benefit of the general public.

The above charitable objects underpin specific projects, activities and services, which bring people of all ages and abilities into contact with the natural environment, focus their attention on the vital importance of biodiversity, and demonstrate ways in which everyone can support nature and live more sustainably.

Public benefit

Activities undertaken to further public benefit include the provision of courses on ecology and sustainable living and the maintenance of the Denmark Farm Conservation Centre.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Shared Earth Trust

Trustees' Report (continued)

Achievements and performance

1) The Shared Earth Trust maintains and operates Denmark Farm Conservation Centre. The nature reserve at the Centre has open access every day of the year except 25th December. Access to walk on the trails around the nature reserve is free of charge although donations are invited. This facility is used regularly by members of the surrounding communities. In financial year 2024/25 maintaining the site has seen significant work around the nature reserve and in the buildings on site. The paths and trails have undergone improvements, which will continue into the next financial year, extending the wheelchair access to further reaches of the reserve, The ongoing maintenance in the woodlands is reflected in the new woodland management plan developed during the year. A programme of special maintenance projects aimed at the buildings infrastructure was established, which will continue to run into future years. These projects include refurbishments and maintaining fire safety standards. In July 2024 Denmark Farm Conservation Centre achieved Green Flag Community Award the quality standard overseen by Keep Wales Tidy.

2) The Shared Earth Trust continues to offer an extensive range of courses on ecology, natural crafts and sustainable living. These courses are advertised on the website at www.denmarkfarm.org.uk and attract participants from the local area as well as much further afield. The courses are a key element of fulfilling the aims of the charity in terms of promoting biodiversity, restoring and conserving habitats, and re-connecting people with nature. New courses continue to be added to the portfolio including ethno-botany during 2024/25.

3) The Shared Earth Trust hosts a series of visits, meetings and events throughout the year. These are mainly aimed at the local community, but also attract participants from further afield. Events in 2024/25 included: visits from local schools, holiday activities for children, carers groups and support groups for vulnerable individuals. A ‘Bioblitz’ was held in July 2024 to contribute to the continuing ecological recording on site.

4) Volunteers are an essential aspect of the activities at Denmark Farm Conservation Centre, and support the functioning of the Shared Earth Trust. Volunteers are also a key element of achieving the charitable aims by offering individuals who volunteer opportunities to connect to nature, support their well-being and acquire and improve a variety of skills. Regular volunteer sessions make a significant contribution to the maintenance of the nature reserve, utilising and developing the conservation skills of those who attend. The Growing Spaces project based on a regular group of volunteers has seen the kitchen garden continue to develop with raised beds making gardening accessible to a wide range of abilities. Volunteering opportunities in the office also support the running of the Shared Earth Trust organisation.

5) The Shared Earth Trust offers accommodation in the Eco Lodge, dormitory and campsite for residential courses and meetings, or for people who want to visit the nature reserve and surrounding area. The Eco Lodge is an important source of income for the Shared Earth Trust and during 2024/25 it underwent some internal refurbishment.

6) Grant funded activity. The Shared Earth Trust received grant funding from a variety of sources. All the grants contributed either directly or indirectly to achieving the aims and objectives of the charity. Funds from the grants supported events and courses, helped maintain the biodiversity on the nature reserve, provided volunteer opportunities and contributed to the running costs of the charity. Grants received during 2024/25:

7) The Shared Earth Trust maintains communication with its supporters and members through emails, blogs, newsletters and social media.

Page 3

Shared Earth Trust

Trustees' Report (continued)

Financial review

Policy on reserves

The trustees have a Financial Reserves Policy, which states that “The policy of the Shared Earth Trust Charitable Incorporated organisation is to hold unrestricted financial reserves of a level that equates to a minimum of six months unrestricted expenditure. In line with the Charities SORP (FRS 102), section 1.48 (October 2019 edition), this policy will be reviewed as part of the annual report and accounts, and the actual reserves held at the end of each financial year will be stated in the annual accounts.”

At 31st March 2025, total unrestricted reserves stand at approximately £742,423 (2024 - £734,934) dependent on the market value of the property. Free reserves (consisting of current liquid assets, less current liabilities) representing the working capital for the unrestricted activities is £79,609 (2024 - £75,134).

Investment policy and objectives

The trust deed governs the trustees' investment powers. The trustees have a policy of keeping any surplus as liquid funds in interest-bearing deposits, which can be accessed readily. The trustees are of the opinion that the charity has insufficient reserves to warrant investment in other forms.

Structure, governance and management

Nature of governing document

The Shared Earth Trust charity is controlled by its governing document, a foundation CIO constitution, approved 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 Earth Trust.

The charity is governed by a Board of Trustees, with new trustees being appointed by resolution of the Board. The trustees govern the strategic direction of the Charity in line with its main objectives as set out in its constitution. The trustees who served during the year and up to the date of this report are set out on page 1.

Recruitment and appointment of trustees

There were six trustees serving on the Board at the start of this financial year. In November 2024 a new trustee was recruited to the Board, bring the number of trustees up to seven. There were no resignations during the year. The CIO’s constitution allows for a maximum of ten and the Board is constantly open to recruiting additional board members with appropriate expertise. The present trustees have a variety of backgrounds and areas of expertise, and individual members take the lead on different issues e.g. finance, conservation, education and legal matters. In recruiting new trustees, the Board seeks to find people with the appropriate skills to fill any potential gaps in expertise

Arrangements for setting key management personnel remuneration

The Shared Earth Trust has four part time staff with a combined total of 10.5 staff days per week. During financial year 2024/25 some additional hours were allocated on a fixed term basis relating to specific projects. The four job roles in alphabetical order are Engagement Manager, Facilities Manager, Finance Manager and Nature Reserve Manager.

Page 4

Shared Earth Trust

Trustees' Report (continued)

Major risks and management of those risks

Risk Assessment

The major risks to which the Charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks. This includes standing items on the agenda of trustee meetings such as: a declaration of conflicts of interest, report of health and safety incidents, and individual reports from staff on their areas of responsibility. Detailed monthly management accounts are circulated to trustees, with the latest version discussed as a standing item at board meetings, as part of the process of mitigating financial risk. In addition, feedback from visitors, volunteers and course participants is regularly monitored.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 5

Shared Earth Trust

Trustees' Report (continued)

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 6

Trwrteal Report (c••linxd) Pl•m• for tqtue ptrlfjth ithntified sty will ts) be dwin8 21)25r16 •NI Vlhik the ShwrAt E•rtb TTll￿ WAU alwAy8 Edward HowArd Tn￿t¢e

Shared Earth Trust Independent Examiner's Report to the trustees of Shared Earth Trust I report to the tru5tre5 on my examin￿0￿ of the accounts of Shaxed Eanb Thjst for the year ￿ded 31 Max 2025. Respollsibilities and basis of re￿rI As the charity trustees of Shared Earth TTUSt you are responsil)le for the preparation of the accounts ill accordattce with tbe requiTtrnents of th¢ Charities Act 2011 {'the Act.). I report in respect of my eXarnin￿On of th¢ Sbared karth Truses accowits carried out under section 145 of the 2011 Act attd in carr>ryDg my examtnation I have followed all the applicable Directions given by the Charity Commission undtt 5¢Ction 145(5)(b) of the A¢L Indepclldtllt txamther's state￿ent I have Complct￿ rny examination. I confm that no nJateriaI ￿￿tter5 bave to w atteDtiOll ill CODnection with the examiDatioll givjllg m¢ ¢ause to believe that in any material re5pett. l. accounting recor(ts were not kept ill Te5pect of Shared Earth Trust as wuired by section 130 of the Ac¢ or 2. tbe accounts do JLOt accord with those re¢ords' or 3. th¢ accounts do not compty with the accounting reqUirem￿ts concern￿8 the foErn and Content of accounts set oth in the Charities (Accounts and Reports) Regulations 2008 other thaD any requirerneDt that the accounts give a Itue and far view which is not a matter coLsid¢red as part of an indep¢nd¢nt examination. I have no concerns and have come a￿l￿S no other Tnatt¢r5 in connection with the ¢k￿nI￿ation to Mthich attention should be thawn in this report in order to enable aproper utKlerstsDding of the accounts to be re￿hed. Rhys Jones LHP Cbartered Certified A￿OUntants FCCA T* Harfo SgwaT Harford Lampeter SA48 7HD Page 8

Shared Earth Trust

Statement of Financial Activities for the Year Ended 31 March 2025

Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
66,534
60,419
2,347
15,548
144,848
(1,008)
(136,351)
(137,359)
7,489
7,489
734,934
742,423		 Restricted
funds
£
-
49,899
-
-
49,899
-
(44,812)
(44,812)
5,087
5,087
19,572
24,659		 Total
2025
£
66,534
110,318
2,347
15,548
194,747
(1,008)
(181,163)
(182,171)
12,576
12,576
754,506
767,082

The notes on pages 13 to 24 form an integral part of these financial statements. Page 9

Shared Earth Trust

Statement of Financial Activities for the Year Ended 31 March 2025 (continued)

Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
57,934
54,213
2,851
13,590
128,588
(1,801)
(99,429)
(101,230)
27,358
27,358
707,576
734,934		 Restricted
funds
£
-
55,432
-
-
55,432
-
(41,855)
(41,855)
13,577
13,577
5,995
19,572		 Total
2024
£
57,934
109,645
2,851
13,590
184,020
(1,801)
(141,284)
(143,085)
40,935
40,935
713,571
754,506

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 18.

The notes on pages 13 to 24 form an integral part of these financial statements. Page 10

Shared Eydrth Trnst (Registration number: 1183155) Balance Sheet as at 31 March 2025 2025 2024 Not¢ Fixed assets Tangibl¢ ￿ets 13 851293 851.725 Current awets Debtors Cash at bank aDd sn band 14 15 2,992 107,536 240 110,528 99,688 Creditors: Amounts falling due wKthin otse year E6 6260 (4,982 Net eurrent assets 104268 94,706 Total awets le&$ cllrrent IlabilTtfiÈs 955,561 946.431 Creditots: Awollots falling dlle after more thaD one yeor 17 (188,479) (191,925) Net Assets 767.082 754,506 of tbe charity: Restricted tucorne ￿ndS Restrcted fi]nds 24,659 19,572 Unrestricted income funds Unrestricted funds Reyaluaiion reserve 407,954 334,469 400,465 334,469 Total unresti¢ted fuDds 742,423 734,934 Totsl fvnds 18 767.Of2 754,506 The financial ststements (In pages 9 to 24 wue by th¢ IT￿$t¢¢4 and authorised for issue on ./.10/2C. and 5Tgned on their behalf by: Edward Howard TTUStee lem) Edward Strachan The notes on pages 13 to 24 forni all intrgral pat of these financial statements. Page 11

Shared Earth Trust

Cash Flow Statement for the Year Ended 31 March 2025

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
Interest payable
Working capital adjustments
Increase in debtors
14
Increase/(decrease) in creditors
16
Net cash flows from operating activities
Cash flows from financing activities
Interest paid
Repayment of bank borrowings
Net cash flows from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2025
£
12,576
432
13,907
26,915
(2,752)
1,278
25,441
(13,907)
(3,446)
(17,353)
8,088
99,448
107,536		 2024
£
40,935
575
12,788
54,298
(121)
(36)
54,141
(12,788)
(3,337)
(16,125)
38,016
61,432
99,448

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 13 to 24 form an integral part of these financial statements. Page 12

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Shared Earth Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 13

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Plant and machinery 25% reducing balance
Fixtures and fittings 25% reducing balance
Equipment 25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 14

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 15

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations
Subscriptions
Grants, including capital grants;
Basic Payment Scheme
Glastir Agreement
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
61,584
2,020
1,922
1,008
66,534
57,934		 Total
funds
£
61,584
2,020
1,922
1,008
66,534
57,934

Page 16

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

3 Income from charitable activities

Course Income
Campsite fees
Dormitory income
Eco Lodge hire
Farmhouse heating
Farmhouse rent
Venue hire
The Big Give (Green Match Fund)
CAVO - Making Conservation Count 2024
Co-op Local Community Fund 2024-2026
The National Lottery Heritage Fund (The Woodland
Investment Grant 2)
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
18,585
1,262
993
23,951
1,332
9,000
5,296
-
-
-
-
60,419
54,213		 Restricted
funds
£
-
-
-
-
-
-
-
1,099
2,000
500
46,300
49,899
19,579		 Total
funds
£
18,585
1,262
993
23,951
1,332
9,000
5,296
1,099
2,000
500
46,300
110,318
73,792

4 Income from other trading activities

Trading income;
Shop income
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
2,347
2,347
2,851		 Total
funds
£
2,347
2,347
2,851

Page 17

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

5 Other income

Tariff income
Interest on cash deposits
Other exceptional income
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
11,271
3,384
893
15,548
13,590		 Total
funds
£
11,271
3,384
893
15,548
13,590

6 Expenditure on raising funds

a) Costs of trading activities

Costs of goods sold
Total for 2025
Total for 2024
7
Expenditure on charitable activities
Note
Charitable activity
Staff costs
Allocated support costs
Governance costs
Total for 2025
Total for 2024		 Note
Unrestricted
funds
General
£
37,635
56,621
40,379
1,716
136,351
99,429		 Unrestricted
funds
General
£
1,008
1,008
1,801
Restricted
funds
£
36,982
6,830
1,000
-
44,812
41,855		 Total
funds
£
1,008
1,008
1,801
Total
funds
£
74,617
63,451
41,379
1,716
181,163
141,284

Page 18

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

8 Analysis of governance and support costs

Governance costs

Depreciation, amortisation and other similar costs
Allocated support costs
Total for 2025
Total for 2024
9
Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets		 Unrestricted
funds
General
£
432
1,284
1,716
2,063
2025
£
432		 Total
funds
£
432
1,284
1,716
2,063
2024
£
575

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2025
£
63,451		 2024
£
54,286

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025 2024
No No
Number of staff 2 4

No employee received emoluments of more than £60,000 during the year

Page 19

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

Cost
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Land and
buildings
£
850,000
850,000
-
-
-
850,000
850,000		 Fixtures and
fittings
£
1,938
1,938
1,393
136
1,529
409
545		 Equipment
£
2,626
2,626
1,545
271
1,816
810
1,081		 Plant and
machinery
£
351
351
252
25
277
74
99		 Total
£
854,915
854,915
3,190
432
3,622
851,293
851,725

Page 20

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Revaluation

The fair value of the company's Land and buildings was revalued on 27 October 2021 by an independent valuer. Freehold property comprises of the land at Denmark Farm,the conference centre, Farmhouse and Ecolodge. The properties were all valued for the purpose of their transfers into the CIO from the origin company and charity at their insurance valuations on the 29 October 2021. The valuations were carried out by Andrew Morgan FRICS FAAV on behalf of Morgan and Davies. The board will consider the valuation annually ongoing. Had this class of asset been measured on a historical cost basis, their carrying amount would have been £515,531 (2024 - £515,531).

14 Debtors

14 Debtors
Trade debtors
15 Cash and cash equivalents
Cash on hand
Cash at bank
16 Creditors: amounts falling due within one year
Bank loans
Trade creditors
Other taxation and social security
Accruals
17 Creditors: amounts falling due after one year
Bank loans		 2025
£
2,992
2025
£
469
107,067
107,536
2025
£
3,500
658
402
1,700
6,260
2025
£
188,479		 2024
£
240
2024
£
757
98,691
99,448
2024
£
3,500
-
258
1,224
4,982
2024
£
191,925

Page 21

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

18 Funds
Unrestricted funds
General
General Funds
Revaluation Reserve
Restricted funds
Catalyst Cymru 2023
(Broadening Horizons)
Postcode Community Trust
2023-2025
The Big Give (Green Match
Fund)
WCVA 2024 (Energy Efficiency
Survey)
CAVO - Making Conservation
Count 2024
Co-op Local Community Fund
2024-2026
The National Lottery Heritage
Fund (The Woodland Investment
Grant 2)
Total funds		 Balance at 1
April 2024
£
400,465
334,469
734,934
405
18,167
-
1,000
-
-
-
19,572
754,506		 Incoming
resources
£
144,848
-
144,848
-
-
1,099
-
2,000
500
46,300
49,899
194,747		 Resources
expended
£
(137,359)
-
(137,359)
(405)
(18,167)
(1,099)
(1,000)
(2,000)
-
(22,141)
(44,812)
(182,171)		 Balance at 31
March 2025
£
407,954
334,469
742,423
-
-
-
-
-
500
24,159
24,659
767,082

Page 22

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Unrestricted funds
General
General Funds
Revaluation Reserve
Restricted funds
National Lottery Community
Fund 2022 (Denmark Farm
Growing Space)
The D'Oyly Carte Charitable
Trust 2022
The D'Oyly Carte Charitable
Trust 2023
Cynnal Cymru 2022 (Nature
Wise)
Catalyst Cymru 2023
(Broadening Horizons)
Garfield Weston Foundation
Grant 2023
Postcode Community Trust
2023-2025
The Big Give 2023
WCVA 2024
Total funds		 Balance at 1
April 2023
£
373,107
334,469
707,576
238
267
5,490
-
-
-
-
-
-
5,995
713,571		 Incoming
resources
£
128,588
-
128,588
-
-
-
1,750
2,829
15,000
25,000
9,853
1,000
55,432
184,020		 Resources
expended
£
(101,230)
-
(101,230)
(238)
(267)
(5,490)
(1,750)
(2,424)
(15,000)
(6,833)
(9,853)
-
(41,855)
(143,085)		 Balance at 31
March 2024
£
400,465
334,469
734,934
-
-
-
-
405
-
18,167
-
1,000
19,572
754,506

19 Analysis of net assets between funds

19 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
851,293
85,869
(6,260)
(188,479)
742,423		 Restricted
funds
£
-
24,659
-
-
24,659		 Total funds at
31 March
2025
£
851,293
110,528
(6,260)
(188,479)
767,082

Page 23

Shared Earth Trust

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
851,725
80,116
(4,982)
(191,925)
734,934		 Restricted
funds
£
-
19,572
-
-
19,572		 Total funds at
31 March
2024
£
851,725
99,688
(4,982)
(191,925)
754,506

20 Analysis of net funds

Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt		 At 1 April
2024
£
99,448
(3,500)
(191,925)
(95,977)		 Financing cash
flows
£
8,088
-
3,446
11,534		 At 31 March
2025
£
107,536
(3,500)
(188,479)
(84,443)

21 Related party transactions

During the year the charity made the following related party transactions:

Mr Andrew Polkey

(Trustee)

Reimbursement for materials and purchase of services for the amount of £2,792.. At the balance sheet date the amount due to/from Mr Andrew Polkey was £Nil (2024 - £Nil).

Dr Angie Polkey

(Spouse of trustee Mr Andrew Polkey)

Purchase of services for the amount of £120.00. At the balance sheet date the amount due to/from Dr Angie Polkey was £Nil (2024 - £Nil).

Page 24

Shared Earth Trust

Statement of Financial Activities by fund for the Year Ended 31 March 2025

Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2025
£
66,534
60,419
2,347
15,548
144,848
(1,008)
(136,351)
(137,359)
7,489
7,489
400,465
407,954		 Total
Unrestricted
Funds
2024
£
57,934
54,213
2,851
13,590
128,588
(1,801)
(99,429)
(101,230)
27,358
27,358
373,107
400,465

This page does not form part of the statutory financial statements. Page 25

Shared Earth Trust

Statement of Financial Activities by fund for the Year Ended 31 March 2025 (continued)

Income and Endowments from:
Charitable activities
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2025
£
49,899
49,899
(44,812)
(44,812)
5,087
5,087
19,572
24,659		 Total
Restricted
Funds
2024
£
55,432
55,432
(41,855)
(41,855)
13,577
13,577
5,995
19,572

This page does not form part of the statutory financial statements. Page 26

Shared Earth Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Income and Endowments from:
Donations and legacies (analysed below)
Charitable activities (analysed below)
Other trading activities (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2025
£
66,534
110,318
2,347
15,548
194,747
(1,008)
(181,163)
(182,171)
12,576
12,576
420,037
432,613		 Total
2024
£
57,934
109,645
2,851
13,590
184,020
(1,801)
(141,284)
(143,085)
40,935
40,935
379,102
420,037

This page does not form part of the statutory financial statements. Page 27

Shared Earth Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2025 (continued)

Donations and legacies
Donations
Grants
Subscriptions
Charitable activities
Courses
Campsite fees
Dormitory income
Eco Lodge hire
Farmhouse heating
Farmhouse rent
Venue hire
Cynnal Cymru
Catalyst Cymru - Broadening Horizons Project
Garfield Weston Foundation 2023
Postcode Community Trust 2023-2025
The Big Give
WCVA - Energy Efficiency Survey 2024
CAVO - Making Conservation Count 2024
Co-op Local Community Fund 2024-2026
National Lottery Heritage Fund: TWIG 2
Other trading activities
Shop income
Other income
Tariff income
Insurance claim
Interest on cash deposits
Other exceptional income
Raising funds
Shop costs - purchases		 Total
2025
£
61,584
2,930
2,020
66,534
18,585
1,262
993
23,951
1,332
9,000
5,296
-
-
-
-
1,099
-
2,000
500
46,300
110,318
2,347
2,347
11,271
-
3,384
893
15,548
(1,008)
(1,008)		 Total
2024
£
51,299
5,085
1,550
57,934
21,240
998
1,275
18,820
490
7,620
3,770
1,750
2,829
15,000
25,000
9,853
1,000
-
-
-
109,645
2,851
2,851
5,508
6,477
1,602
3
13,590
(1,801)
(1,801)

This page does not form part of the statutory financial statements. Page 28

Shared Earth Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2025 (continued)

Charitable activities
Charitable activities direct costs
Purchases
Travelling
Insurance
Other establishment costs
Office expenses
Trade subscriptions
Marketing
Consultancy fees
Legal and professional fees
Interest on bank loans and overdrafts
Depreciation, amortisation and other similar costs
Allocated support costs
Staff costs		 Total
2025
£
(74,617)
(560)
(3)
(3,821)
(12,242)
(941)
(863)
(2,721)
(1,000)
(5,100)
(14,128)
(432)
(1,284)
(63,451)
(181,163)		 Total
2024
£
(58,483)
(422)
-
(3,479)
(5,907)
(1,124)
(942)
(1,354)
-
(120)
(13,104)
(575)
(1,488)
(54,286)
(141,284)

This page does not form part of the statutory financial statements. Page 29