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2022-09-30-accounts

Charity Registration No. 1186288

TURTLE DOVE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

TURTLE DOVE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number

Independent examiner

Philip Nicholas Watts (Chairman) Robert Brown Mike Anderson-Brown

1186288

TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU

(Appointed 17 January 2023) (Appointed 1 April 2024) (Appointed 1 April 2024)

TURTLE DOVE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11

TURTLE DOVE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees present their report and financial statements for the year ended 30 September 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Charity/Trust was formed by a Declaration of Trust made on the 11th November 2019 and the main objects are to advance the conservation of wildlife for the public benefit especially the Turtle Dove and other endangered species in particular but not exclusively by providing them with a safe breeding environment, the retention and creation of suitable nesting habitats and to promote the study and conservation of birds and their habitat, particularly endangered farmland birds.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

As noted in the Objectives, the Trust rears approximately 500 Turtle Doves yearly, and releases them which requires habitats and nurturing in the early periods.

Financial review

The Trust is dependant upon donations and thanks all who have donated and who have also entered the acceptance for the gift aid procedure.

As noted in the accounts, there has been the decision to transfer any so analysed fixed assets to costs of operating the charity each year as the distinction between assets and repairs has become blurred. The income and resultant fund balances have enabled the Trust to bring up to date in 2023, (see subsequent accounts), the ongoing necessary works and costs of the Trust.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trustees who served during the year and up to the date of signature of the financial statements were:

Christopher Robin Knights (Resigned 1 April 2024)
Edward John Pope (Resigned 1 April 2024)
Philip Nicholas Watts (Chairman) (Appointed 17 January 2023)
Robert Brown (Appointed 1 April 2024)
Mike Anderson-Brown (Appointed 1 April 2024)
William Michael Mankins (Resigned 1 April 2024)

The Trust is operated by three Trustees and any appointments are made by invitation to interested parties.

TURTLE DOVE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees' report was approved by the Board of Trustees.

Philip Nicholas Watts (Chairman)

Trustee Dated: 24 June 2024

TURTLE DOVE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TURTLE DOVE TRUST

I report to the trustees on my examination of the financial statements of Turtle Dove Trust (the charity) for the year ended 30 September 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Aside from the acknowledgement that these accounts have been prepared in conjunction with the following year ending 30 September 2023, which will result in their submission outside of the prescribed detail being updated to the Charity Commission, 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 financial statements to be reached.

Graham Darbourne FCA for and on behalf of TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU

Dated: 26 June 2024

TURTLE DOVE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 3 34,703 20,000
Investments 4 973 440
Total income 35,676 20,440
Expenditure on:
Charitable activities 5 24,825 16,424
Net gains/(losses) on investments 7 (3,224) 2,494
Net movement in funds 7,627 6,510
Fund balances at 1 October 2021 20,154 13,644
Fund balances at 30 September 2022 27,781 20,154

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

TURTLE DOVE TRUST

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

Notes
Fixed assets
Tangible assets
8
Investments
9
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets/(liabilities)
Total assets less current liabilities
Income funds
Unrestricted funds		 2022
£
19,996
(6,350)		 2021
£
£
-
14,135
14,135
6,498
(15,268)
13,646
27,781
27,781
27,781		 £
11,564
17,360
28,924
(8,770)
20,154
20,154
20,154

The financial statements were approved by the Trustees on 24 June 2024

Philip Nicholas Watts (Chairman)

Trustee

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

Charity information

Turtle Dove Trust is an unincorporated association, registered with the Charity Commission.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

FOR THE YEAR ENDED 30 SEPTEMBER 2022

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the charity cannot reclaim it.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FOR THE YEAR ENDED 30 SEPTEMBER 2022

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 34,703 20,000

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

4 Investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Income from listed investments 973 440

5 Charitable activities

Unrestricted
Unrestricted
funds total funds total
2022 2021
£ £
Accountancy 390 900
Project costs 10,390 -
Construction work - 8,098
Computer costs 2,031 1,410
Legal and professional fees 360 -
Veterinary and bird testing - 155
Seeds - 481
Bank charges 90 15
Rent - 4,000
(Profit)/loss on disposal of tangible fixed assets 11,564 -
Depreciation - 1,365
24,825 16,424

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

7 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Realised gains - 318
Unrealised gains (3,224) 2,176
(3,224) 2,494

8 Tangible fixed assets

Tangible fixed assets
Plant and machinery
£
At 1 October 2021 13,653
Disposals (13,653)
At 1 October 2021 2,089
Eliminated in respect of disposals (2,089)
Carrying amount
At 30 September 2021 11,564

The Trustees have reviewed the costs previously recognised as fixed assets and are of the opinion that on the basis these structures are built on rented land, they hold no resale value as an asset in the charity.

As a result of this, in the current year it has been agreed for the net book value as at 30 September 2021 be transferred to the Statement of Financial Activities as an expense. This cost is included within the charitable activities note under ‘Project costs - Reanalysis of outstanding net book value, treated as fixed assets in prior year’.

TURTLE DOVE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

9 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 October 2021 17,360
Valuation changes (3,225)
At 30 September 2022 14,135
Carrying amount
At 30 September 2022 14,135
At 30 September 2021 17,360

10 Creditors: amounts falling due within one year

Other creditors
Accruals and deferred income		 2022
£
5,000
1,350
6,350		 2021
£
14,308
960
15,268

11 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).