Charity no. 1185451
Beaver Trust Report and Unaudited Financial Statements
31 March 2023
The Trustees have referred to the guidance from the Charity Commission on public benefit in producing this report and when reviewing our aims and objectives and planning our future activities.
Objectives and Activities
Our charitable objectives
To promote the conservation, protection and improvement of the physical and natural environment, in particular, but not exclusively, through the reintroduction of beavers with a view to improving biodiversity.
To advance the education of the public in the conservation, protection and improvement of the physical and natural environment, in particular, but not exclusively, focusing on the role of beavers and their impact on ecosystems.
Our mission
We restore beavers to regenerate our landscapes.
Our strategic goals
RESTORE COMMUNICATE & INFLUENCE EDUCATE We facilitate the restoration of We work with governmental beavers throughout Britain, bodies and stakeholders to We mobilise widespread public prioritising catchments that develop national strategies and understanding to inform and maximise biodiversity and policies that enable the encourage acceptance of the ecosystem benefits, connect and restoration and normalisation of changes beavers bring and augment existing populations, beavers and wetlands with prepare people to live alongside promote holistic catchment land pragmatic management and them. use practices whilst ensuring mitigation. long-term coexistence.
Our cross-cutting objectives
We work as a team to ensure that the collaboration we strive for externally is mirrored in the way we work together internally.
We work positively to improve our awareness of diversity, equity and inclusion and to take action that enables real inclusiveness.
Page 1
Achievements and Performance
Strategic Goal 1 - Restore
We trapped and translocated over 60 beavers from conflict sites in Scotland and worked with partners across Britain to release into enclosed projects such as Trentham Gardens and wild release projects such as Loch Lomond NNR with RSPB Scotland.
With the help of generous supporters, we built a second holding facility at Five Sisters Zoo - doubling our capacity to trap beavers on sites in Scotland where they are caught in conflict, and complete essential health checks before taking them to new homes.
Natural England granted us contracts to advise on post-release health monitoring , create a beaver stud book which will help manage the genetic health of Britain's beaver populations, trap and health screen wild beavers living in the Avon catchment and to conduct surveys for beaver field signs in Kent and Devon.
While we work mostly in Great Britain, we collaborate with overseas colleagues when asked for our expertise. We completed a feasibility report for a project hoping to reintroduce beavers to Greece which has now been presented to the Minister of Environment and Energy. And we supported a team in Italy who studied a small beaver population in Tuscany and their co-existence with other species.
Page 2
Strategic Goal 2 - Communicate & Educate
We released Beaver Trust’s second documentary On The Edge which highlights the importance of river buffers as a live public premiere on YouTube to over 500 live audience members.
Reaching a wider audience, our work has featured on the BBC, ITV and Channel 4 as well as in national newspapers and we have seen a surge of interest in our social media engaging over 2 million people.
We broadcast season 4 of our podcast, The Lodge Cast, focused on beavers and farming featuring guests such as Sarah Langford and Lee Schofield. The Lodge Cast was reviewed and recommended by PodBible and BBC Wildlife Magazine and has over 18,000 downloads.
Our team have given presentations and attended a number of events throughout the year to discuss beaver reintroduction. From Ealing Beaver Day in London to 'Beaver Blether' events in and for the Cairngorm National Park Authority ahead of their formal consultation in summer 2023.
Page 3
Strategic Goal 3 - Influence
Our policy and influence work, alongside that of other environmental charities, secured big wins for beavers this year.
NatureScot published a beaver strategy for 2022 - 2045. Their approach is to actively promote translocations to support the expansion of beaver populations.
In England, beavers were granted European Protected Status. This paves the way for wild releases in the future.
Our CEO Sandra King attended the MP species champion awards hosted by RSPB at parliament where Sir Roger Gayle, the species champion for beavers, collected an award from Deborah Meaden as beavers won species of the year.
Page 4
Plans for the future
As we look to the future Beaver Trust is committed to continuing its mission to restore beavers to regenerate our landscapes and build on everything we've achieved to date. Below are just some of our aims for the next year:
-
Hold Britain's biggest beaver conference in Exeter to share state of the art understanding from research, policy and practitioner experience of beaver restoration.
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Work with partners to release beavers into the wild in new areas in Scotland such as Glen Affric and the Cairngorms National Park.
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Work with partners to release beavers into new sites including enclosed projects and towards the first wild release in England.
Provide expertise and support to more land owners to live alongside beavers.
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Conduct and publish more beaver related science.
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Begin scripting and filming of Beaver Trust's next short documentary addressing the complexities and nuance around the fascinating interaction between beavers and fish populations.
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Record and publish season 5 and 6 of The Lodge Cast.
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Develop, publish and pro-actively share beaver education materials which can be used in schools across Britain.
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Engage and influence more people, organisations, and politicians than ever before through media work and in person events.
----- Start of picture text -----
Loch Beinn
a'Mheadhion in Glen
Affric, Scotland where
beavers could be
returning to in 2023
----- End of picture text -----
Page 5
Financial Review
Financial Position
Total income for the year ended 31 March 2023 was £946,061. Over a third of this - £332,327 - was the result of our amazingly successful one-off gala and auction event. Income from our charitable activities was £223,155. The organisation has benefited from £19,000 in the form of volunteer time. Net assets at the year end were £509,846 with the cash position being £464,184. This includes donations and grants totalling £188,000 received in the last couple of months prior to the year end. Secured income for the year ahead is £212,500.
Total expenditure for the year was £701,759. Support and governance costs were £87,896 which were allocated to fundraising (£101,862) and charitable activities (£599,897), as detailed in note 6 to the financial statements. The surplus at the year end was £244,302.
Reserves Policy
The charity’s reserves policy is to hold general reserves that will fulfil operating expenditure for a period of 3 - 6 months. General reserves are unrestricted funds excluding designated funds. General funds at 31 March 2023 were £506,846, which equates to 9 months of operating costs. This has arisen due to the contribution from a significant one-off gala and auction event and receipt of a significant grant shortly before the year end. The trustees are aware of this and will be actively looking at ways to reduce this in pursuance of its charitable objectives.
Going Concern
The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. The trustees therefore consider it appropriate to adopt the going concern basis for the preparation of the accounts, as detailed in note 1(b) to the financial statements.
Thank You
Beaver Trust’s success is a result of generous support from many individuals, trusts and foundations. The trustees would particularly like to thank the following organisations: Oak Foundation, Garfield Weston Foundation, AIM Foundation, John Ellerman Foundation, T&J Meyer Family Foundation, Savitri Waney Charitable Trust, Adrian Swire Charitable Trust, Artemis Charitable Foundation, and Cobalt Trust.
The Trustees would also like to thank all the other individuals and organisations who have supported our work this year, especially those who donated very generously at our gala and auction event.
----- Start of picture text -----
Page 6
Four juveniles out of a
family of seven beavers
Beaver Trust released at
Loch Lomond as part of
a joint project with RSPB
Scotland in January
2023.
----- End of picture text -----
Structure, Governance and Management
Legal and administrative details
Beaver Trust was founded on 23 September 2019 as a charitable incorporated organisation (CIO). It is registered in England and Wales (Charity no. 1185451). Its registered office is 61 Bridge Street, Kington, Herefordshire, HR5 3DJ. The charity is governed using a CIO Foundation Constitution whose only voting members are its trustees.
The members of the trustee board are trustees under charity law. They are also known as board members.
Recruitment of Trustees
Prospective trustees are required to formally apply and to be interviewed. Every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Statement of Trustee responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
Make judgements and accounting estimates that are reasonable and prudent;
-
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (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 charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Page 7
Reference and Administrative Details
Registered charity name
Beaver Trust
Charity registration number
1185451 (England & Wales)
Principal office address
Little Orchard, Ford Road, Wiveliscombe, TA4 2NJ
Registered office address
61 Bridge Street, Kington, Herefordshire, HR5 3DJ
Charity Trustees
Alasdair Harris Andrew Simms Jennifer Scholfield Keith Shepherd Matthew Brady Sacha Dench (resigned 23/01/2023) Victoria Heffer Nicola Saunter
Independent Examiner
Godfrey Wilson Ltd were re-appointed as the charity’s independent examiners during the year and have expressed their willingness to act in that capacity.
Godfrey Wilson Limited, 5th Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD.
Bankers
CAF Bank, 25 Kings Hill Ave, Kings Hill, West Malling, ME19 4JQ. PayPal Wise
Approved by the trustees on 28 June 2023 and signed on their behalf by:
Alasdair Harris 28 June 2023
Page 8
Independent examiner's report
To the trustees of
Beaver Trust
I report to the trustees on my examination of the accounts of Beaver Trust (the CIO) for the year ended 31 March 2023, which are set out on pages 10 to 23.
Responsibilities and basis of report
As the charity trustees of the CIO 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 CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) accounting records were not kept in respect of the CIO as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
In all other respects, 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.
Laura May Richards
Date: 28 June 2023 Laura Richards ACA Member of the ICAEW For and on behalf of:
Godfrey Wilson Limited
Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
9
Beaver Trust
Statement of financial activities
For the year ended 31 March 2023
| Note Income from: Donations 3 Charitable activities 4 Other trading activities 5 Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure 6 8 Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) and movement in funds |
Restricted £ £ 8,000 468,939 - 223,155 - 243,797 - 2,170 8,000 938,061 - 101,862 31,000 568,897 31,000 670,759 (23,000) 267,302 23,000 242,544 - 509,846 Unrestricted |
2023 Total £ 476,939 223,155 243,797 2,170 946,061 101,862 599,897 701,759 244,302 265,544 509,846 |
2022 Total £ 529,592 114,515 - - |
|---|---|---|---|
| 644,107 | |||
| 51,760 422,400 |
|||
| 474,160 | |||
| 169,947 95,597 |
|||
| 265,544 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.
10
Beaver Trust
Balance sheet
As at 31 March 2023
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Liabilities 13 Net current assets Net assets 14 Funds 15 Restricted funds Unrestricted funds Designated funds General funds Total charity funds Creditors: amounts falling due within 1 year |
87,269 464,184 551,453 91,951 |
2023 £ 50,344 459,502 509,846 - 3,000 506,846 509,846 |
2022 £ - |
|---|---|---|---|
| 48,150 267,114 |
|||
| 315,264 49,720 |
|||
| 265,544 | |||
| 265,544 | |||
| 23,000 7,830 234,714 |
|||
| 265,544 |
Approved by the trustees on 28 June 2023 and signed on their behalf by
Alasdair Harris - Trustee
11
Beaver Trust
Statement of cash flows
For the year ended 31 March 2023
| Cash used in operating activities: Net movement in funds Adjustments for: Depreciation charges Dividends, interest and rents from investments Decrease / (increase) in debtors Increase / (decrease) in creditors Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments Purchase of tangible fixed assets Net cash provided by / (used in) investing activities Increase / (decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ 244,302 9,822 (2,170) (39,119) 42,231 255,066 2,170 (60,166) (57,996) 197,070 267,114 464,184 |
2022 £ 169,947 - - (34,866) 33,670 |
|---|---|---|
| 168,751 | ||
| - - |
||
| - | ||
| 168,751 98,363 |
||
| 267,114 |
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
12
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Beaver Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern. There are no material uncertainties about the charity's ability to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income earned by the restoration team is recognised as work is completed.
d) Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Interest receivable
- Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
13
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
1. Accounting policies (continued)
f) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Grants payable
Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate).
i) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between activities in proportion to the direct costs incurred, as follows:
| ws: | ||
|---|---|---|
| 2023 | 2022 | |
| Raising funds | 14.5% | 10.9% |
| Charitable activities | 85.5% | 89.1% |
j) Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
| Motor vehicles | 3 years straight line |
|---|---|
| Equipment | 3 years straight line |
Items of equipment are capitalised where the purchase price exceeds £5,000.
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
14
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
1. Accounting policies (continued) l) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
n) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
o) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key source of estimation uncertainty that has a significant effect on the amounts recognised in the financial statements is depreciation as described in note 1(j) above.
15
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
2. Prior period comparatives: statement of financial activities
| Income from: Donations Charitable activities Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income Transfers between funds Net movement in funds 3. Income from donations Donations Gifts in kind Total income from donations Prior period comparative: Donations Gifts in kind Total income from donations |
Restricted Unrestricted £ £ 41,541 488,051 - 114,515 41,541 602,566 - 51,760 18,840 403,560 18,840 455,320 22,701 147,246 299 (299) 23,000 146,947 Restricted Unrestricted £ £ 8,000 449,913 - 19,026 8,000 468,939 Restricted Unrestricted £ £ 41,541 471,861 - 16,190 41,541 488,051 |
Total 2022 £ 529,592 114,515 |
|---|---|---|
| 644,107 | ||
| 51,760 422,400 |
||
| 474,160 | ||
| 169,947 - |
||
| 169,947 | ||
| 2023 Total £ 457,913 19,026 |
||
| 476,939 | ||
| 2022 Total £ 513,402 16,190 |
||
| 529,592 |
16
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
4. Income from charitable activities
| Income from charitable activities | |||
|---|---|---|---|
| Beaver management services Communication and education services Other earned income Total income from charitable activities |
Restricted Unrestricted £ £ - 212,955 - 10,200 - - - 223,155 |
2023 Total £ 212,955 10,200 - 223,155 |
2022 Total £ 113,754 - 761 |
| 114,515 |
In the prior year, income from charitable activities was unrestricted.
5. Income from other trading activities
| Restricted Unrestricted £ £ Fundraising auction event - 243,472 Merchandise - 325 Total income from other trading activities - 243,797 |
2023 Total £ 243,472 325 243,797 |
2022 Total £ - - |
|---|---|---|
| - |
17
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
| 6. Total expenditure Staff costs (note 9) Consultancy / freelancer fees Beaver management services Travel Meetings and events Fundraising events Communication and media Grants payable (note 7) External programme costs Foreign exchange (gain) / loss Depreciation Office costs IT and phones Accounting Legal and professional Insurance Sub-total Allocation of support and governance costs Total expenditure |
Raising funds £ 48,166 - - - - 39,925 1,013 - - - - - - - - - 89,104 12,758 101,862 |
Charitable activities £ £ 276,944 49,131 750 7,472 124,959 - 45,368 - 2,399 - - - 5,609 - 41,000 - 17,926 - (18) - 9,822 - - 9,562 - 1,390 - 2,040 - 14,380 - 3,921 524,759 87,896 75,138 (87,896) 599,897 - Support and governance |
2023 Total £ 374,241 8,222 124,959 45,368 2,399 39,925 6,622 41,000 17,926 (18) 9,822 9,562 1,390 2,040 14,380 3,921 |
|---|---|---|---|
| 701,759 - |
|||
| 701,759 |
Total governance costs were £3,328 (2022: £1,680).
18
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
6. Total expenditure (continued) Prior period comparative
| Staff costs (note 9) Consultancy / freelancer fees Beaver management services Travel Meetings and events Communication and media External programme costs Foreign exchange (gain) / loss Office costs IT and phones Accounting Legal and professional Insurance Supporter / volunteer costs Sub-total Allocation of support and governance costs Total expenditure |
Raising funds £ 42,986 2,486 - - - - - - - - - - - - 45,472 6,288 51,760 |
Charitable activities £ £ 236,141 46,949 14,566 1,943 47,339 - 20,995 - 3,849 - 7,693 - 41,324 - (819) - - 3,559 - 988 - 1,680 - 1,932 - 484 - 65 371,088 57,600 51,312 (57,600) 422,400 - Support and governance |
2022 Total £ 326,076 18,995 47,339 20,995 3,849 7,693 41,324 (819) 3,559 988 1,680 1,932 484 65 |
|---|---|---|---|
| 474,160 - |
|||
| 474,160 |
7. Grants payable
During the year, 2 (2022: Nil) grants were awarded to one institution (2022: Nil) and one to an individual (2022: Nil) for the construction of beaver holding facilities.
Total grants committed to during the year were as follows:
| Total grants committed to during the year were as follows: | ||
|---|---|---|
| Grants payable to institutions: Five Sisters Zoo Derek Gow Consultancy |
2023 £ 26,000 15,000 41,000 |
2022 £ - - |
| - |
19
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
8. Net movement in funds
This is stated after charging:
| Depreciation Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration: Independent examination fee (including VAT) |
2023 £ 9,822 Nil 1,195 2,040 |
2022 £ - Nil Nil 1,680 |
|---|---|---|
During the year, three trustees were reimbursed for travel and accommodation relating to trustee meetings.
9. Staff costs and numbers
Staff costs were as follows:
| Wages and salaries Social security costs Pension costs Redundancy costs |
2023 £ 332,875 30,740 8,913 1,713 374,241 |
2022 £ 292,383 25,825 7,868 - |
|---|---|---|
| 326,076 |
Included in salaries and wages are redundancy and termination costs totalling £1,713, comprising entirely of statutory redundancy payments. Redundancy and termination costs have been funded from unrestricted general funds (note 15).
The number of employees whose annual emoluments were £60,000 or more were:
| £60,000 to £70,000 | 2023 No. 1 |
2022 No. - |
|---|---|---|
The key management personnel of the charity are considered to be the trustees and directors. The total employee benefits of the key management personnel are £145,308 (2022: £162,880).
The average head count for 2023 was 9.5 (2022: 9).
10. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
20
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
11. Tangible fixed assets
| Cost At 1 April 2022 Additions in year At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 12. Debtors Trade debtors Accrued income Prepayments 13. Creditors : amounts due within 1 year Trade creditors Other taxation and social security Accruals VAT |
Motor vehices £ - 52,660 52,660 - 9,822 9,822 42,838 - |
Equipment £ - 7,506 7,506 - - - 7,506 - 2023 £ 67,545 15,213 4,511 87,269 2023 £ 34,387 10,955 23,077 23,532 91,951 |
Total £ - 60,166 |
|---|---|---|---|
| 60,166 | |||
| - 9,822 |
|||
| 9,822 | |||
| 50,344 | |||
| - | |||
| 2022 £ 39,493 7,864 793 |
|||
| 48,150 | |||
| 2022 £ 20,787 10,783 18,150 - |
|||
| 49,720 |
21
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
14. Analysis of net assets between funds
| Fixed assets Current assets Current liabilities Net assets at 31 March 2023 Prior year comparative Current assets Current liabilities Net assets at 31 March 2022 15. Movements in funds Restricted funds Total restricted funds Unrestricted funds Designated funds: Greece Project General funds Total unrestricted funds Total funds Beaver Holding Facilities Five Sisters Zoo The Caen Catchment Buffers & Beavers |
£ - - - - £ 23,000 - 23,000 At 1 April 2022 £ 5,000 18,000 23,000 7,830 234,714 242,544 265,544 Restricted funds Restricted funds |
Total funds £ £ £ - 50,344 50,344 3,000 548,453 551,453 - (91,951) (91,951) 3,000 506,846 509,846 Total funds £ £ £ 7,830 284,434 315,264 - (49,720) (49,720) 7,830 234,714 265,544 Income £ £ £ - (5,000) - 8,000 (26,000) - 8,000 (31,000) - - (4,830) 3,000 938,061 (665,929) 506,846 938,061 (670,759) 509,846 946,061 (701,759) 509,846 Expenditure At 31 March 2023 Designated funds General funds Designated funds General funds |
Total funds £ 50,344 551,453 (91,951) |
|---|---|---|---|
| 509,846 | |||
| Total funds £ 315,264 (49,720) |
|||
| 265,544 | |||
| - | |||
| 3,000 | |||
| 506,846 | |||
| 509,846 | |||
| 509,846 |
22
Beaver Trust
Notes to the financial statements
For the year ended 31 March 2023
15. Movements in funds (continued) Purposes of restricted funds
The Caen Catchment Buffers & Beavers
A project with £10,000 funding from Devon Environment Foundation. The 4-5 year project is to introduce buffers and beavers into the Caen Catchment.
Beaver Holding Facilities A project for the cost of the construction of beaver holding Five Sisters Zoo facilities at Five Sisters Zoo.
Purposes of designated funds
Funds ring-fenced for the Greece project to be spent down in 2023/24.
| Prior year comparative Restricted funds Beaver Equipment Italy Project Nottinghamshire Mural 5 Hereford St Total restricted funds Unrestricted funds Designated funds: Greece Project General funds Total unrestricted funds Total funds The Caen Catchment Buffers & Beavers Beaver Holding Facilities Five Sisters Zoo |
At 1 April 2021 £ - - - - - - - - 95,597 95,597 95,597 |
Income £ £ 1,700 (1,999) 9,181 (9,181) 10,000 (5,000) 18,000 - 1,000 (1,000) 1,660 (1,660) 41,541 (18,840) - (2,170) 602,566 (453,150) 602,566 (455,320) 644,107 (474,160) Expenditure |
£ £ 299 - - - - 5,000 - 18,000 - - - - 299 23,000 10,000 7,830 (10,299) 234,714 (299) 242,544 - 265,544 Transfers between funds At 31 March 2022 |
£ £ 299 - - - - 5,000 - 18,000 - - - - 299 23,000 10,000 7,830 (10,299) 234,714 (299) 242,544 - 265,544 Transfers between funds At 31 March 2022 |
|---|---|---|---|---|
| 23,000 | ||||
| 7,830 | ||||
| 234,714 | ||||
| 242,544 | ||||
| 265,544 |
16. Related party transactions
In the prior year, a donation of £40,000 was received from John Ellerman Foundation, which is related through Keith Shepherd, who is a trustee of both charities.
23
Laura Richards Godfrey Wilson Limited Chartered Accountants & Statutory Auditors 5[th] Floor Mariner House 62 Prince Street Bristol BS1 4QD
28 June 2023
Dear Laura
Letter of Representations on the Financial Statements for the Year Ended 31 March 2023
We confirm that the following representations are made on the basis of enquiries of the trustees, management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you:
- We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 23 April 2021, under the Charities Act 2011 for preparing financial statements, in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year ended 31 March 2023.
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We confirm that all accounting records have been made available to you for the purpose of your examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain evidence and have provided any additional information that you have requested for the purposes of your examination.
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We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements.
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We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable. We confirm that we have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
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We confirm that the charity has no liabilities or contingent liabilities other than those disclosed in the financial statements.
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We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to you and accounted for and disclosed in accordance with the applicable financial reporting framework.
Beaver Trust © Registered Charity #1185451
Confidential 1
61 Bridge Street Kington HR5 3DJ
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We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
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We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include: trustees, other key management, close family and other business interests of the previous. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.
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We confirm that the charity neither had, at any time during the year, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the charity) for trustees, nor provided guarantees of any kind on behalf of the trustees except as disclosed in the financial statements.
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We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
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We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.
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We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities, except as explained to you and as disclosed in the financial statements.
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We acknowledge our responsibility for the design, implementation and maintenance of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the organisation.
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We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by trustees, former trustees, employees, former employees, regulators or others.
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We confirm that, in our opinion, the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. In reaching this conclusion, we have taken into account all relevant matters of which we are aware, and have considered a period of at least one year from the date on which the financial statements will be approved.
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We confirm that in our opinion the effects of uncorrected misstatements are immaterial, both individually and in aggregate, to the financial statements as a whole.
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We confirm that we are not aware of any matters of material significance that should be reported to regulators. We confirm that all correspondence with the Charity Commission has been made available to you.
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We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
Beaver Trust © Registered Charity #1185451
Confidential 3
Yours sincerely
Alasdair Harris - Trustee For and on behalf of the trustees of Beaver Trust
Beaver Trust © Registered Charity #1185451
Confidential 3