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2024-03-31-accounts

Charity no. 1185451

Beaver Trust Report and Unaudited Financial Statements 31 March 2024

The Trustees have referred to the guidance from the Charity Commission on the 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

----- Start of picture text -----
Communicate &
Restore Influence
Educate
We facilitate the restoration of
We mobilise widespread public We work with governmental bodies
beavers throughout Britain,
understanding, and targeted and stakeholders to develop
prioritising catchments that
engagement with sceptical interest national strategies and policies
maximise biodiversity and groups, to inform and encourage that enable the restoration and
ecosystem benefits, connect and acceptance of the changes beavers normalisation of beavers and
augment existing populations and
bring and prepare people to co- wetlands with pragmatic
promote holistic catchment land exist with them. management and mitigation.
use practices whilst ensuring long-
term coexistence.
----- End of picture text -----

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 & Performance

18

----- Start of picture text -----
2
----- End of picture text -----

----- Start of picture text -----
1st
----- End of picture text -----

50+

Communicate & Edu 2.8.+ Hello and welcome to thls sho all about beavtrs. people engaged with our communications across our media channels. New EduGation Inforfflil 8dilts'88 01￿0Ma D8m mji￿lng Fun adithti88 Fonnil leardw.. KS1&2 curriv￿lm , Getrjra o Saence &Jthd r*Jl eces c trib te to, inorvlèws on.BB.[ an an articl Nat GeoKids.￿=__.___ Writing Avi £250k _ awarded from the National Lottery Heritage Fund for the next three years. launching an education programme in collaboration with beaver sites and their local schools and communities. 10.000¥.- listeners downloaded e season 5 and 6 of Beave on beaver management and climate & beavers respectively. idosdo5 of..

InfluEnce CONFERENCE REsfoRIMG BEAVERSTOTHE BRMSH LANDSCAPE -200+ delegates attended our¥irs conference, designed to inspireSnd inform best practice in beaver restoratfon. Restoring To Regenerate Our Landscapes BEAVER CONFERENCE 2023 KiYNoTa stakehoi&ers were sent a cbpy,Of ou:. beaver conference summary. events att*rtdEd, wit benefitting fro support. including the C" coalitions joined. Wildlife an Countryside Link in England and The- Scottish Rewilding Alliance in Scotland. to extend the reach of our influencing work. emen events. the ' eaver blethers.

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:

----- Start of picture text -----
We hope to deliver a number
of projects which will help
realise the ecological
benefits of beaver activities
while protecting and
preserving endangered
migratory salmonid
populations.
----- End of picture text -----

Page 5

Financial Review

Financial Position

Total income for the year ended 31 March 2024 was £892,311. Income from our charitable activities was £296,500. The organisation has benefited from £9,885 in the form of volunteer time. Net assets at the year end were £511,029 with the cash position being £525,678. Secured income for the year ahead is £206,698.

Total expenditure for the year was £891,128. Support and governance costs were £106,122 of which £6,756 was allocated to fundraising and £99,366 allocated to charitable activities, as detailed in note 6 to the financial statements. The surplus at the year end was £1,183.

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 2024 were £480,774 , which equates to 6 months of operating costs.

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: AIM Foundation, Ecological Restoration Fund, Esmee Fairbairn Foundation, Frederick Mulder Foundation, Garfield Weston Foundation, John Ellerman Foundation, Oak Foundation, The European Nature Trust and The Banister Charitable Trust.

The Trustees would also like to thank all the other individuals and organisations who have supported our work this year.

----- Start of picture text -----
Page 6
This is the first beaver
kit to be born at our
holding facilities at Five
Sisters Zoo which is now
thriving with its family
at National Trust’s
Wallington Estate
----- 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;

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 (Resigned 13 June 2023) Jennifer Scholfield Keith Shepherd Matthew Brady Victoria Heffer Nicola Saunter Katharine Barke (Appointed 3 January 2024) James Bliss (Appointed 3 January 2024) Richard Allan (Appointed 3 January 2024)

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 21 August 2024 and signed on their behalf by:

Alasdair Harris

Alasdair Harris� 21 August 2024

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 2024, which are set out on pages 10 to 25.

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:

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.

Date: 21 August 2024 Robert Wilson (FCA) 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 2024

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
£
£
138,512
448,602
-
296,500
-
267
-
8,430
138,512
753,799
-
57,211
108,257
725,660
108,257
782,871
30,255
(29,072)
-
509,846
30,255
480,774
Unrestricted		 2024
Total
£
587,114
296,500
267
8,430
892,311
57,211
833,917
891,128
1,183
509,846
511,029		 2023
Total
£
476,939
223,155
243,797
2,170
946,061
101,862
599,897
701,759
244,302
265,544
509,846

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 2024

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		 92,171
525,678
617,849
(147,204)		 2024
£
40,384
470,645
511,029
30,255
-
480,774
511,029		 2023
£
50,344
87,269
464,184
551,453
(91,951)
459,502
509,846
-
3,000
506,846
509,846

Approved by the trustees on 21 August 2024 and signed on their behalf by

Alasdair Harris

Alasdair Harris - Trustee

11

Beaver Trust

Statement of cash flows

For the year ended 31 March 2024

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		 2024
£
1,183
19,987
(8,430)
(4,902)
55,253
63,091
8,430
(10,027)
(1,597)
61,494
464,184
525,678		 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

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 2024

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 2024

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:
2024 2023
Raising funds 6.4% 14.5%
Charitable activities 93.6% 85.5%

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 2024

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 2024

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
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
Net income / (expenditure) and
movement in funds
Reconciliation of funds:
Total funds brought forward		 Restricted
Unrestricted
£
£
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
Restricted Unrestricted
£
£
138,512
431,046
-
17,556
138,512
448,602
Restricted Unrestricted
£
£
8,000
449,913
-
19,026
8,000
468,939		 Total
2023
£
476,939
223,155
243,797
2,170
946,061
101,862
599,897
701,759
244,302
265,544
509,846
2024
Total
£
569,558
17,556
587,114
2023
Total
£
457,913
19,026
476,939

16

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

4. Income from charitable activities

Income from charitable activities
Beaver management services
Communication and education services
Total income from charitable activities		 Restricted Unrestricted
£
£
-
287,800
-
8,700
-
296,500		 2024
Total
£
287,800
8,700
296,500		 2023
Total
£
212,955
10,200
223,155

In the prior year, income from charitable activities was unrestricted.

5. Income from other trading activities

Income from other trading activities
Restricted Unrestricted
£
£
Fundraising auction event
-
-
Merchandise
-
267
Total income from other trading activities
-
267		 2024
Total
£
-
267
267		 2023
Total
£
243,472
325
243,797

17

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

For the year ended 31 March 2024
6.
Total expenditure
Staff costs (note 9)
Consultancy / freelancer fees
Beaver management services
Travel
Meetings and events
Communication and media
Grants payable (note 7)
External programme costs
Supporter/ Volunteer
Depreciation
Office costs
IT and phones
Accounting
Legal and professional
Insurance
Exchange gain/loss
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising
funds
£
50,455
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
50,455
6,756
57,211		 Charitable
activities
£
£
365,035
54,207
14,653
8,812
154,997
-
69,597
-
11,153
-
5,148
-
13,000
-
80,251
-
1,372
-
19,987
-
-
25,829
-
7,329
-
2,359
-
1,006
-
6,580
(642)
-
734,551
106,122
99,366
(106,122)
833,917
-
Support and
governance		 2024
Total
£
469,697
23,465
154,997
69,597
11,153
5,148
13,000
80,251
1,372
19,987
25,829
7,329
2,359
1,006
6,580
(642)
891,128
-
891,128

Total governance costs were £5,167 (2023: £3,328).

18

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

6. Total expenditure (continued) Prior period comparative

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

7. Grants payable

During the year, 5 grants were awarded to 5 institutions (2023: 2 grants to 1 institution) and 0 to an individual (2023: 1) for the construction of beaver holding facilities.

Total grants committed to during the year were as follows:

Grants payable to institutions:
Five Sisters Zoo
Derek Gow Consultancy
Citizen Zoo
SSPCS
Heart or Argyll Wildlife
North Wales Wildlife Trust
Wildlife Trust for Beds, Cambs & Northamptonshire		 2024
£
-
-
2,000
3,000
2,000
3,000
3,000
13,000		 2023
£
26,000
15,000
-
-
-
-
-
41,000

19

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

8. Net movement in funds

This is stated after charging:

Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
Independent examination fee (excluding VAT)		 2024
£
19,987
Nil
1,469
1,850		 2023
£
9,822
Nil
1,195
1,700

During the year, five trustees were reimbursed for travel and accommodation relating to trustee meetings (2023: three).

9. Staff costs and numbers

Staff costs were as follows:

Wages and salaries
Social security costs
Pension costs
Redundancy costs		 2024
£
418,643
39,044
12,010
-
469,697		 2023
£
332,875
30,740
8,913
1,713
374,241

Included in salaries and wages are redundancy and termination costs totalling £nil (2023: £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:

2024 2023
No. No.
£60,000 to £60,999 1 0
£70,000 to £79,999 1 1

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 £183,949 (2023: £206,382).

The average head count for 2024 was 11 (2023: 9.5).

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 2024

11. Tangible fixed assets

Cost
At 1 April 2023
Additions in year
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
12. Debtors
Trade debtors
Accrued income
Prepayments
13. Creditors : amounts due within 1 year
Trade creditors
Other taxation and social security
Accruals
Conduit funds
VAT		 Motor
vehices
£
52,660
-
52,660
9,822
17,554
27,376
25,284
42,838		 Equipment
£
7,506
10,027
17,533
-
2,433
2,433
15,100
7,506
2024
£
54,950
26,698
10,523
92,171
2024
£
51,948
14,079
20,812
38,128
22,237
147,204		 Total
£
60,166
10,027
70,193
9,822
19,987
29,809
40,384
50,344
2023
£
67,545
15,213
4,511
87,269
2023
£
34,387
10,955
23,077
-
23,532
91,951

21

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

14. Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets
Current assets
Current liabilities
Net assets at 31 March 2024
Prior year comparative
Fixed assets
Current assets
Current liabilities
Net assets at 31 March 2023		 £
-
30,255
-
30,255
£
-
-
-
-
Restricted
funds
Restricted
funds		 £
-
-
-
-
£
-
3,000
-
3,000
Designated
funds
Designated
funds		 £
40,384
587,594
(147,204)
480,774
£
50,344
548,453
(91,951)
506,846
General
funds
General
funds		 Total
funds
£
40,384
617,849
147,204
511,029
Total
funds
£
50,344
551,453
(91,951)
509,846

22

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds

Movements in funds
Restricted funds
International work
3yr grant - restoration costs
CCTV at FSZ
"Balancing the Scales"
"Noise for Nature"
HLF Education project
Total restricted funds
Unrestricted funds
Designated funds:
Greece Project
General funds
Total unrestricted funds
Total funds
"Reviving rivers: making
space for water" animation
Riverscapes River Buffer
communications campaign
Portacabin furnishing at FSZ		 At 1 April
2023
£
-
-
-
-
-
-
-
-
-
-
3,000
506,846
509,846
509,846		 Income
£
£
£
10,000
(3,817)
6,183
3,600
(2,800)
800
27,500
(27,500)
-
50,000
(50,000)
-
3,300
(3,300)
-
8,050
(840)
7,210
10,000
(10,000)
-
10,000
(10,000)
-
16,062
-
16,062
138,512
(108,257)
30,255
-
(3,000)
-
753,799
(779,871)
480,774
753,799
(782,871)
480,774
892,311
(891,128)
511,029
Expenditure
At 31 March
2024
30,255
-
480,774
480,774
511,029

23

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued)

International work

A project to assist with the reintroduction of beavers into other countries.

A communications project to produce a descriptive and sciencebased animation about the opportunity river buffers and making space for water offers for river and beaver restoration.

"Reviving rivers: making A communications project to produce a descriptive and sciencespace for water" animation based animation about the opportunity river buffers and making space for water offers for river and beaver restoration. Riverscapes River Buffer A communications campaign in partnership with Riverscapes communications campaign (National Trust, Woodland Trust, Rivers Trust, Beaver Trust), the first phase of which covered by expenditure so far involved campaign development, delivered by communications agency 'Enviral'. The campaign's overall goal is to build support among three specific audiences (land owners, general public and policy makers) for river buffers or making space for water alongside rivers and creating connected corridors with space for nature, including beavers.

3yr grant - restoration costs £50,000 per year to cover core costs of the Restoration Team. CCTV at FSZ Purchase and fitting of CCTV at Five Sisters Zoo.

Portacabin furnishing at A project to set up the portacabin (donated by Five Sisters Zoo) FSZ for BT to use as a dedicated space for beaver health screening as well as being a comfortable space for BT staff and volunteers.

"Balancing the Scales" A 20-30 minute documentary, produced and directed by Nina Constable Media, exploring the science, challenges, concerns and expert opinion on the interactions of beavers with migratory salmonids, which is one of the key concerns that arises when discussing beavers' return to Britain.

"Noise for Nature" A week long media trip to visit four beaver sites in Scotland, to give the attending journalists and influencers insight into beaver reintroduction and management, in order to produce relevant influential articles. HLF Education Project Employment of two Education officers to create resources and deliver programmes to enhance understanding of beaver conservation in schools across the UK.

Purposes of designated funds

Funds ring-fenced for the Greece project spent down in 2023/24.

24

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Prior year comparative

Prior year comparative Transfers Transfers Transfers
At 1 April between At 31 March
2022 Income Expenditure funds 2023
£ £ £ £ £
Restricted funds
The Caen Catchment
Buffers & Beavers 5,000 - (5,000) - -
Beaver Holding Facilities
Five Sisters Zoo 18,000 8,000 (26,000) - -
Total restricted funds 23,000 8,000 (31,000) - -
Unrestricted funds
Designated funds:
Greece Project 7,830 - (4,830) - 3,000
General funds 234,714 938,061 (665,929) - 506,846
Total unrestricted funds 242,544 938,061 (670,759) - 509,846
Total funds 265,544 946,061 (701,759) - 509,846
Purposes of prior year restricted funds
The Caen Catchment A project with £10,000 funding
from		 Devon Environment
Buffers & Beavers 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.

16. Related party transactions

In the year, a donation of £30,000 (2023: £40,000) was received from John Ellerman Foundation, which has a trustee in common with Beaver Trust.

25