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2025-03-31-accounts

Charity no. 1185451

Beaver Trust Report and Unaudited Financial Statements

31 March 2025

----- Start of picture text -----
Trustees'
Report
Our team was proud to
support the historic
first wild beaver release
in England during the
year at the National
Trust’s site at Little Sea
in Purbeck, Dorset.
----- End of picture text -----

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 vision

Our vision is of thriving waterways vibrant with life, where beavers are embraced as a vital part of our biodiverse landscape.

Our strategic goals

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

Restore

19

Beaver families translocated from conflict sites and released into enclosed and wild projects across Britain.

35

New scientific citations underscore our research’s impact.

10+ Speacialist beaver training courses delivered.

20+ Conference events delivered.

Communicate & Educate

650+ People attended 5 in-person screenings of our latest short documentary, ‘Balancing The Scales’, held across Britain.

5m+ People engaged with our communications across our media channels.

8

Schools engaged with our education programme sponsored by the Heritage Lottery Fund.

100+ Media pieces engaged with about beaver restoration.

Influence

15+ National meetings on beaver policy attended involving government

agencies and stakeholders across Scotland, England and Wales.

20+ Political briefings sent, consultations completed and letters sent to government bodies.

10+ MP’s, MSP’s and MS’s connected with about beaver restoration.

8

Clear policy asks identified across Britain which we are working to implement.

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:

Launch a public campaign on ‘making space for water’ as part of the Riverscapes partnership.

Beaver Trusts’s new dedicated facilities for the health screening of beavers being translocate at Five Sisters Zoo.

Page 5

Financial Review

Financial Position

Total income for the year ended 31 March 2025 was £948,684. Income from our charitable activities was £243,037. The organisation has benefited from £31,465 in the form of volunteer time. Net assets at the year end were £377,762 with the cash position being £359,490. Secured income for the year ahead is £312,500.

Total expenditure for the year was £1,081,951. Support and governance costs were £113,369 of which £7,680 was allocated to fundraising and £105,689 allocated to charitable activities, as detailed in note 6 to the financial statements. The deficit at the year end was £133,267.

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 £375,762, which equates to 4.7 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.

A site at Knapdale, Argyll which has been transformed into a thriving wetland thanks to beaver activities.

Page 6

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

Risk Management

The Beaver Trust Senior Management Team and Trustees regularly identify and review potential risks to the charity, maintaining a risk register that records both the risks and the steps taken to mitigate them. The risk register is reviewed quarterly by the Finance Sub-Committee and the Board, ensuring that risks are actively monitored and managed throughout the year.

At the year end, the key risks identified included:

The trustees are confident that the charity is well placed to meet these challenges. Mitigating actions include active engagement with policymakers and partners, ongoing investment in fundraising and supporter relationships, robust financial management, and measures to strengthen the staff team and organisational systems. Looking ahead, the trustees see these risks as opportunities to build greater resilience, expand collaboration, and ensure the charity is equipped to deliver its long-term mission.

----- Start of picture text -----
Our team look forward to
completing the largest
survey of beavers ever
undertaken in Britain, on
the River Tay in Scotland,
and to seeing its
publication in the next
financial year.
----- End of picture text -----

Page 8

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 (Resigned 31 January 2025) Anna Gilchrist (Appointed 17 May 2025) Jennifer Scholfield (Resigned 5 August 2024) James Byrne (Appointed 17 May 2025) Keith Shepherd Zara Reid (Appointed 17 May 2025) Matthew Brady (Resigned 6 August 2025)

Victoria Heffer Nicola Saunter (Resigned 6 August 2025) Katharine Barke James Bliss Richard Allan

Independent Examiner

Godfrey Wilson Limited 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 Unity Bank Charity Bank Approved by the trustees on 29 September 2025 and signed on their behalf by:

Victoria Heffer

Victoria Heffer 29 September 2025

Page 9

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 2025, which are set out on pages 11 to 26.

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: 29 September 2025 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

10

Beaver Trust

Statement of financial activities

For the year ended 31 March 2025

Note
Income from:
Donations
4
Charitable activities
5
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
9
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) and
movement in funds		 Restricted
£
£
161,852
531,660
-
243,037
-
277
-
11,858
161,852
786,832
-
73,291
176,545
832,115
176,545
905,406
(14,693)
(118,574)
16,693
494,336
2,000
375,762
Unrestricted		 2025
Total
£
693,512
243,037
277
11,858
948,684
73,291
1,008,660
1,081,951
(133,267)
511,029
377,762		 2024
Total
£
587,114
296,500
267
8,430
892,311
57,211
833,917
891,128
1,183
509,846
511,029

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 16 to the accounts.

The 2024 brought forward funds have been restated for changes in the prior year movement in funds note, as set out in note 2 of the accounts.

11

Beaver Trust

Balance sheet

As at 31 March 2025

----- Start of picture text -----
Restated
2025 2024
Note £ £
Fixed assets
Tangible assets 12 63,089 40,384
Current assets
Debtors 13 92,010 92,171
Cash at bank and in hand 359,490 525,678
451,500 617,849
Liabilities
Creditors: amounts falling due within 1 year 14 (136,827) (147,204)
Net current assets 314,673 470,645
Net assets 15 377,762 511,029
Funds 16
Restricted funds 2,000 16,693
Unrestricted funds 375,762 494,336
Total charity funds 377,762 511,029
----- End of picture text -----

Approved by the trustees on 29 September 2025 and signed on their behalf by

Victoria Heffer

Victoria Heffer - Trustee

12

Beaver Trust

Statement of cash flows

For the year ended 31 March 2025

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 (used in) / provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
(Decrease) / increase 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		 2025
£
(133,267)
29,212
(11,858)
161
(10,377)
(126,129)
11,858
(51,917)
(40,059)
(166,188)
525,678
359,490		 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

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

13

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies

a) Basis of preparation

Beaver Trust is an unincorporated charity registered in England and Wales. The registered office address is 61 Bridge Street, Kington, Herefordshire, HR5 3DJ.

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.

14

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

1. Accounting policies (continued)

f) Funds accounting

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: 2025 2024 Raising funds 6.8% 6.4% Charitable activities 93.2% 93.6%

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.

15

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

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.

16

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

2. Prior period restatement

Restricted funds

The prior period movement in funds note has been restated to reclassify prior year unrestricted expenditure as restricted in relation to the HLF Education project.

Funds brought forward

This has affected funds brought forward, as follows:

Funds as originally stated at 31 March 2024
Funds as restated at 31 March 2024
Adjustment to recognise restricted
expenditure		 Restricted
funds
30,255
(13,562)
16,693		 -
-
-
Designated
funds		 480,774
13,562
494,336
General
funds		 511,029
-
511,029
Total funds

3. Prior period comparatives: statement of financial activities (restated)

Income from:
Donations
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds
Net income / (expenditure) and
movement in funds
Reconciliation of funds:
Total funds brought forward		 Restricted
Unrestricted
£
£
138,512
448,602
-
296,500
-
267
-
8,430
138,512
753,799
-
57,211
121,819
712,098
121,819
769,309
16,693
(15,510)
-
509,846
16,693
494,336		 Total
2024
£
587,114
296,500
267
8,430
892,311
57,211
833,917
891,128
1,183
509,846
511,029

17

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

4. Income from donations

Donations
Gifts in kind
Total income from donations
Prior period comparative:
Donations
Gifts in kind
Total income from donations		 Restricted Unrestricted
£
£
161,852
500,195
-
31,465
161,852
531,660
Restricted Unrestricted
£
£
138,512
431,046
-
17,556
138,512
448,602		 2025
Total
£
662,047
31,465
693,512
2024
Total
£
569,558
17,556
587,114

Gifts in kind include professional support for advertising, consultancy, and programme related activities, as well a small amount of gifted goods.

5. Income from charitable activities

Beaver management services
Communication and education services
Total income from charitable activities		 2025
Total
£
235,700
7,337
243,037		 2024
Total
£
287,800
8,700
296,500

Income from charitable activities in the current and prior year was unrestricted.

6. Government grants

The charity receives government grants, defined as funding from the National Lottery Heritage Fund to fund charitable activities. The total value of such grants in the period ending 31 March 2025 was £16,486 (2024: £nil).

18

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

7.
Total expenditure
Staff costs (note 10)
Beaver management services
Other staff costs
Consultancy
Travel
Meetings and Events
Office costs, IT and phones
Fundraising and influencing events
Communication, influencing and education
Communication and media
Grants payable (note 7)
Accounting
Legal and Professional
Insurance
Supporter / volunteer
External programme costs
Exchange gain / loss
Depreciation
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising
funds
£
58,799
-
-
-
-
-
-
6,812
-
-
-
-
-
-
-
-
-
-
65,611
7,680
73,291		 Charitable
activities
£
£
448,972
86,307
160,222
-
25,295
-
32,889
-
79,986
-
10,909
-
-
15,212
-
-
20,749
-
1,773
-
4,000
-
-
2,542
-
692
-
8,616
1,549
-
87,359
-
56
-
29,212
-
902,971
113,369
105,689
(113,369)
1,008,660
-
Support and
governance		 2025
Total
£
594,078
160,222
25,295
32,889
79,986
10,909
15,212
6,812
20,749
1,773
4,000
2,542
692
8,616
1,549
87,359
56
29,212
1,081,951
-
1,081,951

Total governance costs were £3,536 (2024: £3,689).

19

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

7. Total expenditure (continued) Prior period comparative

Staff costs (note 10)
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
£
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

8. Grants payable

During the year, 2 grants were awarded to 2 institutions (2024: 5 grants to 5 institutions) for the construction of beaver holding facilities.

Total grants committed to during the year were as follows:

Grants payable to institutions:
Ealing Wildlife Group
Abriachan Forest Trust
Citizen Zoo
SSPCS
Heart or Argyll Wildlife
North Wales Wildlife Trust
Wildlife Trust for Beds, Cambs & Northamptonshire		 2025
£
2,000
2,000
-
-
-
-
-
4,000		 2024
£
-
-
2,000
3,000
2,000
3,000
3,000
13,000

20

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

9. Net movement in funds

This is stated after charging:

----- Start of picture text -----
||||| |---|---|---|---| |2025|2024| |£|£| |Depreciation|29,212|19,987| |Trustees' remuneration|Nil|Nil| |Trustees' reimbursed expenses|1,136|1,469| |Independent examiner's remuneration:| ||Independent examination fee (excluding VAT)|2,000|1,850|

----- End of picture text -----

During the year, 5 trustees were reimbursed for travel and accommodation relating to trustee meetings (2024: 5).

10. Staff costs and numbers

Staff costs were as follows:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Wages and salaries|527,714|418,643| |Social security costs|50,669|39,044| |Pension costs|15,695|12,010| |594,078|469,697|

----- End of picture text -----

There were no redundancy and termination costs in the year (2024: £nil).

The number of employees whose annual emoluments were £60,000 or more were:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |No.|No.| |£60,000 to £60,999|1|1| |£70,000 to £79,999|1|1|

----- End of picture text -----

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 £188,923 (2024: £183,949).

The average head count for 2025 was 14 (2024: 11).

11. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

21

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

12. Tangible fixed assets

Cost
At 1 April 2024
Additions in year
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
13. Debtors
Trade debtors
Accrued income
Prepayments
14. Creditors : amounts due within 1 year
Trade creditors
Other taxation and social security
Accruals
Conduit funds
VAT		 Motor
vehicles
£
52,660
51,917
104,577
27,376
23,987
51,363
53,214
25,284		 Equipment
£
17,533
-
17,533
2,433
5,225
7,658
9,875
15,100
2025
£
61,263
17,384
13,363
92,010
2025
£
50,386
18,387
3,042
47,875
17,137
136,827		 Total
£
70,193
51,917
122,110
29,809
29,212
59,021
63,089
40,384
2024
£
54,950
26,698
10,523
92,171
2024
£
51,948
14,079
20,812
38,128
22,237
147,204

22

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

15. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities
Net assets at 31 March 2025
Prior year comparative (restated)
Fixed assets
Current assets
Current liabilities
Net assets at 31 March 2024		 £
£
-
-
2,000
-
-
-
2,000
-
£
£
-
-
16,693
-
-
-
16,693
-
Restricted
funds
Designated
funds
Restricted
funds
Designated
funds		 £
63,089
449,500
(136,827)
375,762
£
40,384
601,156
(147,204)
494,336
General
funds
General
funds		 Total
funds
£
63,089
451,500
136,827
377,762
Total
funds
£
40,384
617,849
(147,204)
511,029

23

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

16. Movements in funds

Restricted funds
International work
Newby Trust
Tree planting research
3yr grant - restoration costs
Stockel Family Foundation
Portacabin furnishing at FSZ
"Balancing the Scales"
HLF Education project
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
"Reviving rivers: making
space for water" animation
Printing and distribution of
BDAMS		 At 1 April
2024
£
6,183
800
-
-
-
-
-
7,210
-
2,500
16,693
494,336
494,336
511,029		 Income
£
25,000
-
15,000
1,000
2,000
50,000
7,970
-
15,000
45,882
161,852
786,832
786,832
948,684		 £
£
(31,183)
-
(800)
-
(15,000)
-
(1,000)
-
-
2,000
(50,000)
-
(7,970)
-
(7,210)
-
(15,000)
-
(48,382)
-
(176,545)
2,000
(905,406)
375,762
(905,406)
375,762
(1,081,951)
377,762
Expenditure
At 31
March 2025

24

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

16. Movements in funds (continued) Purposes of restricted funds International work A

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.

Newby Trust

A grant to be used towards the salary of the new Policy Lead.

Tree Planting Research

A donation towards the cost of learning how to manage woodland where beavers are present.

Printing and distribution of BDAMS

A donation toward the cost of printing and distributing the publication "Beaver Dam Assessment Methodology for Salmonids."

Stockel Family Foundation

A grant to be used on admin, governance and fundraising salaries from January 2025 to March 2025.

A project to set up the portacabin (donated by Five Sisters Zoo) 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.

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.

25

Beaver Trust

Notes to the financial statements

For the year ended 31 March 2025

16. Movements in funds (continued) Prior year comparative (restated)

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
Portacabin furnishing at FSZ
"Reviving rivers: making
space for water" animation
Riverscapes River Buffer
communications campaign		 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
(13,562)
2,500
138,512
(121,819)
16,693
-
(3,000)
-
753,799
(766,309)
494,336
753,799
(769,309)
494,336
892,311
(891,128)
511,029
Expenditure
At 31 March
2024

Purposes of prior year restricted funds

Riverscapes River Buffer communications campaign

A communications campaign in partnership with Riverscapes (National Trust, Woodland Trust, Rivers Trust, Beaver Trust). 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.

CCTV at FSZ

Purchase and fitting of CCTV at Five Sisters Zoo.

"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.

17. Related party transactions

In the year, a donation of £40,000 (2024: £30,000) was received from John Ellerman Foundation, which has a trustee in common with Beaver Trust. A donation of £250 was received from Artemis (2024: £nil), which also has a trustee in common with Beaver Trust.

26