Charity règlstr•Uon Thjmbor. 1187992 Heal Rewilding CIO nual ftepc and FwMnct81 Statemonts forth• Yoor EnW 31 2023 ocm aciiiole
H•al Rewlldlng CIO Cont•nts Icontlniied) R8ffjr•n and fvAmlnlstr8lve Del•ils Tru$teos' ReF¥ 2105 I19pont Audftc' Rewi 8t09 $tatern8ntof Fifiand 10 Balonce 11 No188 lothe FI&1 St8temenls 12to22
H•al Rwlldlng CIO Rfjferen ond Admlnlslratfve Chalr Stannard Tru¥te•s Pws Watsc Jeromy rth Bms Dn8 Sttm alhan Sknn¢tt Jan Slannard Robgrt Qhjhn lapFthlod 19 Aprl 2024) 1187W2 Ch•rfty R¢glstratlon Numbqr Prfn¢lpal Offlc• Loww Wo$18am Farm with Frkry Frryn& Somerset BA11 SHH ACMdgLLP Stsfford House Blackbrook Part Avenu Tauntr Somersel TA12PX Audltor P898 1
H•al Rowlkllng CIO Th$ trust8és pr¢senl Ihtr annual rnplxt tO9otrw wjth the statements ofth8 oharfty fortho year ended 31 March 2023. Rowildlng 1$ a iaritsb tYganSsakn. 11 vrds Incottmted on tho 17 Fobnjary 2020 In acwdance th tho arttdes of asaotialKJn oThY r8gFSt8rwJ ¥th the charity commi#810ry numbèr 1187992. ObJ•ctlv•• and a¢tfvltlè• ObJ•cls and alms Th& ctyJjoctives of thè chwity, as $91 ts ¢Sb)llon. aro". . lo promote for Ihg b8ngfft of thè Ihe cons8rvalb)n lrnFYOVwnt oflh8 rtaiw4 and ltyskal envirOnmL In Engld ond Wales. Lwkng thg KYOC ol to restoro e4cal dr¥erslty Yl cos5$., - to advance envlrornM8nt lrnprovem ¥thY wOt¢¢t1 for tho benèfit of the PU1¢ throLKJh the conservation and protsction oftho gnvmmgnl and thè ProtC of Lc6y&tgm8 soMc8s', and - to advance the oducatlon &MI Iha ¥ageMl cl th• wbllc kn tha T8skiratitin, rehabirrt8Uon, conseryation and enhancement oftha natural enwr¢Mmenl to pmmote stL and reStah in such $ublects and d1s88minats findings to lh• at lge. Publlc b•n•flt The tnJslee3 confirni that Ihoy have ¢omF4ied w6th the requlromènts of s8ction 17 of the Chari&è8 A¢t 2011 lo h8Vg due rtyard lo the p11 benèfit p}lishJ ty the Charity Commi8skM for England and W4. Achlpv•mont8 and pwfomwire This final yoaf Saw th• most stytrtant athitsvemenl slncg Heal was foundèd the gcqulsition of our l(AjndatI r8wikJing $lie in Somefset, moving charfty fr(Mn CorPt to delNery. Thls 460-acre fomer dry fami 18 ncpw a new natwe whore wikllrfe flnd$ ¥anctuory &nd visitovs. }unteerS and th$ commurlty ca¢7 expwIa bèing a wkder l&)dseape. Thrwghout thls financial y•ar, day-laY raC$ were uMlerten only fiAI-time member8 of Staff, Supportèd by part-Um8 admlnlslrator. and the ehartty Is Frfoud of %that was ac14ey giv8n th81 level of restyjrce. The announcement. of tho ècquisltlon r8a¢hed ovor 4.4m peopl? Isith over 220 artides and three br08dcasl 9¢05. Subs¢rtber8 to th$ Heal new6ttèr reached over 3,CW. Tho chwty seryjred 8 £100,Ixio grant from Iho Nalurd Envw)8nt Investment Readine&8 Fund, a Govgrnmgnt PIOgramme supporling wfvate Sector inveslm8nl inio naturg recovery and ¢Hmal8 action, end bag8n work wth Finan¢è Earth arKI thre8 t8chnitsl p•1nws on thls high-pronè wolect. An appllc8tion to the New to Naturo prramme resulled in a Rewildtry Comms Tralneg post b?in9 craated for Iha nèxt finanaal year. A new team of voluntogrs was esta5 in èÈrty 2023 for kvacbcal work at H&al Somgrset. drawn ftom th9 8xisUng volunteer base of over 3CQ and w peoFlg INTng near Ihe site. Th& Charlty urtdertk a period of commuTrlty gngagemgnl nebghbours and the local vMl8g following th9 S¢te a¢qUon. Worto to refU1$h tho main buikying at th Heal Sr)mersel sit• Wan, as w8M 8$ preparations for wnkng wblkty are8S to kn. Page 2
H•al Rewlldlng CIO
Flnanclal r•vlew
Th6 Trustags ar• pleased to see 4 52 per IFKx8aso In total incwe to £334,879. Unrestri¢tod
expenditure was hlgher than expected. 81 E208.720. a$ 8 resLdt of thè acqvi8hkn of the Heal
Som¢r8et slt6. As a r&81, UlY8strt¢ted ful1n9 saw 8 dfjf of £52,OS4 incfudiftg rostrictod
h)¢om• and expeNJllwe. an overall $urtAus of £41521 wa¥ acW&J. lTr&vklual and tMJsiness
suppr¥ contlnued to help us fAJlhJ fw)d, donations risirg to £94,575 (lonatsd
¢ompar6d th £55.916 in Ihe pravicS finan¢Lg1 yoar. Three major corporatè supportgrs provld•(i
slgnfficanl ctinuIng financkql hdp to the charity ilh a numbgr of other small•r busines$
Partners who b9¢arne Invofv8d durlwJ thè financial year. A8 pled. tho Charlty sred Impact
londing to underpin acquisition of Ih8 Foundati)n Ste, fr(¥n Dirgct Lintr Group and Trloth)$ Bank
UK. Sup•?ntlng the lo1 furKI whlth had been a¢thMr0 SI summgr 2020. Thèland ftjnd is
m8nllést in thro• inithatfvos: He 3x3 laThJ s[Sop. corpor818 a¢¢e sponsorship and o
Employeqs Square Sthem¢. Lev of reseNas makntsThd throughout the period.
GolnB conc•m
Tho Charity is rKNnarlty angaged thtr rorj of lo r08tore bio109teal dNerslty and
ecosysl•ms and is tharef9 rdiant on racaipt of donatioro. granl fundirKJ oThJ other incomg
streams je as a¢olllourf8m. wporate arKI PLWC ev8nts. arKI Bkxjiversty Not Galn IBNGI to
genarats suffic4ont cash to meet interesl and ¢aFAlal repanIS cffi loans as thay f8U duè.
F¢llovthg the year 8nd, in June 2024 th& ClY agrwj an amendment to its cdgirAI loan agroemonl
th UK Insuranc8 for an athjitiontl fality. %thi¢h was usJ to repay in full tha Triodos Loan.
FC41ong th8 T8.finan&ng. the th8rity ha8 loans totalhw £5.5m I1h UK Insuron¢e wtth the fjrsl
caplt81 paJTrent not ¢thJe until 30 Augwl 2027.
Tho Trugtees ao Confident that the ¢lwrity hill bo suc
Il•l R•wllthg CKJ Tr. R•port (contlnu•d) Trn8t¢es and offk•rn tsu818e8 and ofknrs semig anrl li tho yoBr TAWe 85 fokn8: TNstoe&' Pjers Wats( Cith Barn8s tknna Slimson Jonathan 8imn&tt Jan SlanrArd Robert (oFyokkted 19 2024) chr. Jan Stannard R•crulim•nt and appolnlm•nt of trusl••s Tho powers of appointing and additlonal trustees Is ¥8sl¢d In th8 truste85. Tha Jtxnt twstees are respon$lbl8 forth8 doy lo day admink8lralKJn of th¢ ¢hwrty. Page 4
H••1 R•wlldlng CIO TNstw' R•port (condni Stat•mont of Tru$te•i' R•$ponslbllltle• Thè trust ar• r8swnslblg for waparirfj the bithes. I•wi aThJ the f[W¢i st8t8mènts In acwrdance wlth p1kable and United [ngdoM AUntirj StaThlards inckJdl Financjal Rewrbng Stsnd8rd 102.. Tha F(n01 Raporthw StaThlard appll¢•tle IA th6 UK ond Rewblk of Ifeland (Unitsd KirKJd¢m Goneralty A¢cepbJ A¢rUn Practt8}. The law applKabk to charttség in England & Wo1¢s WLHres tru5te8s lo prepar8 flnancwl statèments for each finartcial year wN¢h gN8 a fa vlw of the $tats of affairs of the charity and of thg hKom8 and gxpgnditurg of tho (atity for that F4riod. In preparkng thesg flnancial 8tatem8nt8, the tru$tse8 ar8 requir b).. sdect sullable 8CCLrtmting pollcs and 8Y Ihom c(xil. obs0 tho mgthod8 wirK4plos in th8 cr•S SORP., m8keJudgements and acccyjnting estknates thal 8re reasonat48 and BNithnl.' stat& whother applkable attountlrs SIdardS havs been Idknw&J. sublect to any materf81 departuras diKIDsgd and oxpl•ned In Ihe ststements,. and preparo th8 financk71 $t81ernents Ihe goirvJ concém basi% urkn inapproprlato to prnsume Ih8t the cknarty will cononue in Wess. The trusts8$ ar& r48F4Jnslblè for MaintnIng pmper a¢(yJntir¥J record8 whkh ths¢lose wlth reasonable accuracy at any tim6 Ihè fin8naal positiffi of thg chwity and 8nd)1• them to ensure th81 th8 ffinanCI staloments cnY wllh the Charit1 Act 2011. th8 Charity IAccJ)unts and Report81 Regulauons 2CI)8 the wovisions of Ihe cn$ti1)n. Tho trustè8s are also reSpOnsb for safggu8rdlng tho a1$ of the ¢harity ond for ta reasonable ¥teps for the prevenlon Èrtd delectw offraud ond oth8r Itrwarities. In so far as thg Trust•89 3r• aw there is no relevani audEt fOrMaln of Ihe charitys audrt$ are unaware: and th• Tru3tees hav6 taken 41 sty thot they have ought lo havè taken lo makè Ihemselvos aware of any relovanl audit Infomation and tts estabNsh that1h8 atr)r8 are awwe of that Inforrnatlon. The trustsgs arg l8$WMe Iw the mav)lenarth 8nd kntagrity of Ih9 cofpDrato and fin8nclBI Infomalion Included gn the charitable comwrfs wthite. L8glslation In the Uted Klngdom govgmlng tha preparatkn and dl&8•min81bn oi fina slatemgntg rnay déffer from legls18tion In otherluristhdlons. Th6 onnual r•pDrt was 8PFyoved by th8 tnjsts rf the Choffty 22: 9 ..2Wond gfie on It8 behaw by. Jan Stannard Chair P8ge 5
H• R•wHdlng CIO Indop•ndènl R•mto th• M•mb•r8 of Hoal R•wlkllng CIO Oplnlon We hav8 audiled Ih• finKIal StateMts of Hgal ReAdlrvJ CIO (tho 'charW) for ygor ¢ThJèd 31 M81¢h 2023. which Come thè Ststemenl of Finartial AciNilw. B1ce Sheet, and No19$ kj the FInancI St8tsm6nts, Inctk)g • 8umrnary of slgntht8nt arnting wilides. Thè flnanclal raporting fr8me%wrt that has been applied in their preparation is United Kh)M A¢cwnting Stand8rds, Compdslng Charfties SORP - FRS 11Y2 The Finnew R8portlng Standard applic8lAe In the UK ond Republic of frel8nd' 8pplkatA8 law {LIn1 lfjrykn G8n8raty Acc8ptsd Aceountsng Pra¢ticg1. In our othion the financlal $lat8mg111$- gwe a tru& and falr vtow of th8 Btata Of carfWs affairs as at 31 Mh 2023 and of Its Incomlng resources and of r•sertJrces, IEKludlTrJ Its ]Ma and ¢xpenthttJré, for Ihe y8ar thon 8nded., have b8en properfy prepod in ac(janCe wlth UThted Generalty A¢pIed Accounting Praciic8; and have been pr In aLYord4nc8 wlth Ihe raquiwnenls of the Ch8rilw Act 2011. Ba81$ foroplnlon We conthJ¢ted our 8LBt in acCnCe wth Internalw)nal StsThJ8rds ArtIr {UK) IISA8 IUKII and awjlkable law. Our raspon8iblllles under t18 8tsnd8rds ar& furth8T dos¢rits8d In the audltor responsiblltias for the audit of the fanCl sktaments s8cti¢m of our roporL Wa ar6 independonl of the charity In a¢corrJance th the ethk Wulrernts that arè rtlavanl to our audll of the fmBncKql slatemonts In th• UK, incbAlang the FRtrs EtNc8t Standard. and have fijlfilknj our other 8lhl(al respon8ilN'lillo5 In actan¢$ 9th Ihw requents. We believe the PdenCe have obtalned Is suffident and appr(V to prtivide 8 basis for ow oplnion. Conclusloni relatlng to goSng concorn In auditing the ftnartck818tatgments. have Ccffldyd thal the tru5t80 uee of Iha wlng conc basls of a¢¢oJnknrg in Iho weparatton of thè statemonts ij wroprf81e. $¢11 on tha )[k we have p&fornw, we rnl pJen1ffi 8ny matèrial ururtaintiè8 re18tlng to vents or conditions Ih8L iThJiwdudty or may &36t slgnifKant on the ¢haritl8 ablllty to contlnu8 as a g&n9 ¢oncem for a of at l&asl 12 months frorn %Jon fin8nclal stalornenls are authorfs8d for issue. Our responslbilltl 8ThJ the sponsIbl110$ of the InBlees *Tth resFe¢t lo goJrvJ concèm are dCribed In the relèvant seetions of this r8FKwL othor mèttors Comparat fourés aro Vnali. Other Infomiallon Thg trusts68 are rgsponsible for th8 informab"on. The othw Inforniation tho Infomi8tion Included in the annual repNt. 0r than the faral statèments and our audltorfs raport Ihèreon. Our oplnlon on the finan¢i81 Stslemon15 does not cover the other fOrmation and. oxcept to Ihe extent olherwise axplifjty ststfjd in ow rwl. do express ary fomi ol a$$urance con¢luslon thereon. Pw6
Ind•p•ndènl Audltoes Roport to IA•rnb of H•al Rawlldlng CIO (¢ontlnu•d) In conn•ction wilh our wdS1 of Iho fThrLyxl Slaternts. our r8¥KJnsW l¥ lo r81 the other Inf0MtKIn and. m thkng so, conshjer vtheihgr the ottw ¥)fcrfmalion is rnater1al Irv))rls18Dt the fin8la1 $1gl•ments our kno90 obtslned kn th8 8LhSit or olh8Nhs8 appears to bè malerfal mlsstst&J. Ir tdènify Such Materi incot)slslenca8s or waronl fftalerial mls8tstem¢nts. we arn requlred lo deterniln8 thera 8 mai81ts1 mi55t&tamenl In Ihè fthandal statsments or rn8terlal mlsthtemtynt of th• s)Ihtsr roMi0. K, based on tha w * hav? performed. w8 rnndLKI8 that ther& Js a malert81 rnisstatemenl of thls other Infom)alion, we rtsqutred lo report that la(#. W$ havè nothlrKJ to r•port In thts regard. Matt•r• on whlch w• ar• r•qulrod to report by •xe•ptlon In tha Ilghl of ovr knoYlodg¥ arK1 Understd[ro of the charity and its 6nvironmenl obtaln•d In Iha eourso ofthe audit, we hav& not identifJ matsri misstatements Tntstees. ReFQrt. Wo have nolhiw to report in respect of Ihe f(AbMng malter8 where the Charitiès (Ae&yJnts aThJ Rèport) R•gu181wJro 2Cw)8 w(r•S us to r¢wt lo yw If. In tyJr oF4nlon: Bdequate occ¢wnting rewds hav8 not been kept retum$ 8dequaty for r havé not begn recelved from branchas not v65ited ty us: or the finan¢lal 8tat8mMts arg rn)l in ament 8¢¢j1n9 rec(¥ds rtbjms: or rt8ln thsclosure5 of trusto8s remwlIC SFWIfi by l•w aro not made; or we have not om tr infomWp)n and exOanaIs w8 requiro for our8wJIL R•#ponslbll1ll of tru81eo8 As explained more fully In th8 Statèmenl of Trustee5' R•swn$ibibti&s. th• trustees are res[nSible the preparallon of th& financial stot8rn0fits * for bery salk8fied thal give A true and fair wew, ond for 8uch Int•inal c4JntrcA as th& IrLKStees d6t8wrnine necessary to 8nablè the pr8paration of finan¢ial slatemgnts that are free from m8tedal nWsStIent. vthether due to fraud err. In preparing thg financlal ststwts, lh8 tntstoas arè r95pSIbl8 fix ass955ing the chariirfs ablllty to ntlAue 85 a golfig ¢oncém. dlsc4oslng. appllcablg. maiters r•katèd to golng ¢oncem and uslng Ihe ng conchTn basvJ of accounting Unl the tru51e8s dther inlend to Ih]UK(8te Ihe ¢harity lo cease operation8. or havè m r90kl aHemative t1 to dts so. Audltor R•spon•lbllllles forth• audlt of the flnandal ststemènts Our obl8cUvas are lo obtsin reason81? assurane8 atwl vhth¢r the flnancw Skternts 8$ 8 whole afe fr88 from material ml8slatemént, whether due lo fraud ¢x error. and to i48ue an auditor'8 report that indudes our oplnk)n. Rea50n8tk BS8LwarTh b a thl of assurance. Js nol a guarant6& th8l an audit conducted Sn a¢cordanc8 K8As (UK) wll always detect a material misstat¢mgnl wh8n 118xlsts. Misslalements can 8TiSO Ircfft lwd cy wfor and ar8 consid8r&J matèri81 if. individually or in th8 8ggre9ale, Ihw could reasonatrty be io th8 oConeffl de¢10$ of usors taken on th? basis of Ihes& finandal statements. The exlenl to whlch our procethjres are cable of detèctiry Irr8wlaribes, fraud 1$ delaN&J below..
H••1 RdIng CIO dwndent Att0$ R•port to th• M•mbws ofHgal Rv4AldFng CIO (¢ontlnuod) Id•nlFfylng and a••tWng Wentw rfgks (rt Ma11 mlutst•mont du• lo IrMgularltla$ Wa eonsldarnd tho frAloMng vthen klenbfv 88sassing rlsks of matarial misststsmenl due to Irr6guI8•5. IlUdIng fraud and nl-C ilh la and r•3ulatws.' - th• legal and rewlatw framew in whlc the rpwat06 - the nalure of the sector in the chaffty opera - tho ¢trol enwronmonl oThJ controls 98tabllshed to mttigatè ch risk8 - thè results of (Mjr wulrfes ol managomwrt ¥brt thetr kkMiftcthicr and 8$s8ssm8nt of risks ol Irrggularltles - (Is¢ussk)n8 the audit •ryJagemert team alt fraJ mlghl rxcur - the Incentivé5 for fraud. Lthvs reg&tIonS Bra COr#er to bo iificant to the tharity indude Ihose ffjlating to the r8qulrements offinénclal reporung fram8wc¥k FRS102, the Charities Act 2011, UK tsx legls1811on. and employment law. In additson, wg ¢onshJer oth8r IM afj re131 knthich may not oFedty Imp8cl th fin8nci818tat8monts but may impad on the opwalkn of tharlty. As a fè$uIt ol thes& procedures con¢Jth. Intemallonal Authllng Standards. Ihat a rfsk kn r•l8tMJn to the tmjlenbal for Magaml ovorrkts OftrolS eyistad. AlEt rupon8•¥ to rf$k Id•nttfl We undertook 8udll procedw8s to r&Sd to th8 risks thniifiod. L1esww8d ow audll tesiing to respond th$se risks. Th& 8ddlIkal procaJLwes wo Induded the fullowiTrJ: - gaining an undeiolanding tsf th• dwitys nring ¢ompkrtce 7Mth law8 Jul8Uons - testing the apwopriat&)ess ofjoumd gntries 8TrJ other adI.tmnIS - ¢onsk1erfng whather 8cc0lng e8Umatss wwè 1th1tiVe of pobn14 tlas - nSIderij whother any trBn$l arose outside Ihè ncM1 cojrso of busirsS making énquiries of mana9emenl . c¢rroborattng tyjr anffjurles Ihrowth reviww of Bod MinutBs and c(rfYesp. We also communlcated r8l•vant kn and re9Jl81ion8 and ptstenff4 fraud risk8 to all enga9•mt tsarn mgmb8rs rfjmained &l•rt to any kidKators of fra1 Tr)n<ompfiarw laws and rfjgulaiiong throughout the aurf A fvrther dèscription of our regfM)nsibiitle8 is on th• F1?1 Roportkng Counc5fs webslte at.. W4yw.frc.org.uklwJdttK8responsibikts. dawbcffi forms part of ¢xJr guditorfs reporL U8• of our report TPis report Is made solely lo tr8 ¢harity tru3tees, as a IK4ty. in accwdance wtth section 144 of the Ch8rf116s Aci 2011 and regulatThs m8do LNJder wlion 154 of Ih$l Ac¢. Our audit work has been UThjak so thal mithl te IWSt those mattsrs w& ara required to slato to Irustsgs In an 8thYitors' re[ and for no other purpose. To the fut*sl oxtent pemiitted by law. w8 do not a¢cgPt ¢y a8me respOThSIty lo anwne Iha) ¢harity and rts tlustegs as a t4Jdy. for audit Wk, lor tNs reporL or fOrtt orxThons we ha¥a fomwj. Page 8
H•al R•wldlny CKI Ind•pond¢nt Audltorfs Wortto lh• M•ml)•M ol H•al R•wlldlng CIO {contlnu•d) A C Mole LLP (Statutory Auditr} Ch8rter8d Acujvntants and Ststsjtsxy A Stafford Housè 8lackbroc Park AnyO Taunton Somer88t TA12PX Dale.. ustr 2DI A C Mde LLP 15 eligible for appointment as audltor of the charity by virtu6 of Ils elwJll1ty for appolntmont a8 wjdttor ofa Ctynpany seckn 1212 of the Companles A¢t 2006. P898 9
Hul Rewlldlng CIO Stat•m•nt of Flnanel•l Actlvllles forth• Y8ar End 31 Mar¢h 2023 Unwostrletsd RHtr1ed funds Total 2023 Nots Incom• Oonations arKf kgade8 Investment income 153.980 178,213 332.193 2,686 Totsl In¢om8 156.666 178,213 334,879 Exp•ndltur¢ R818ing funds Charitable activibg5 15,452) 203.268 15,4521 286.906 83.638 Totsl 8xpenditure Net l$xpenditureYincome Gross transf¢r8 beiwg8n fun(Js 208,720 83.638 292,358 152.0541 S.581 94.575 6,581 42.521 17 N8t movement in funds (57.6351 100.156 42.521 R•canclllatlon of fvnds Total furM18 brought forw8rd Total funds 1811 loard 92.507 92,943 185,450 17 34,B72 193.099 227,971 Total 2022 £IAs r•$t4t¢dl Unrestrfcted lunds Rostrlctod funds No Ineom• Don3litins and1898¢ies Total Incomè 163,876 55.916 219,792 163.876 55.916 219.792 Expendlturo R8ising funds Charitablè a¢tivities (12.115} 87.(2 112.1151 87.002 Total expenditure N8t ItOMe 99,117 99,117 64.7S9 55.916 120,675 N91 movement in funts 64.759 55.916 120,675 R•¢onclllatlon ot fvnds Total funds brought forward Total iunds Carriod forward 27.748 37.027 64,775 17 92.507 92.943 185.450 Th• Th)1os on pages 12 to 22 form part olthese flnarKial statements. Pa96 10
H••1 CIO {R418lrntlon numbw: 1187gJ21 Bal Sht as ai 31 IAar¢h 2023 2022 £{As rnstatsdl 2023 Nots Flxad a88•1• Intsngible ass8ts Herflago assots Inv9$1monts 10 11 12 18,C 5.524,966 5.542.969 Curr•nt ass•ti Dobtors Cash at bank and In hand 13 145,S25 S63,118 308,841 41.732 155,410 197.142 Credltorn: Amount8 falllng du• wlthln ¢)ne ye N•t ¢urrnnt lllabll1tl8sy4ts rotsl a88•ts l•$• curronl Ilabllltle 14 128223 185,447 5,414,746 185,450 Cr8dltvrs: Amount8 falllng du• aftor morn than one year 15 N•t a•ts 6,186.775 227.971 185.450 Fund¢ ot t ¢harfty: Unrestricted funds 34.872 92.507 R88tricted funds 193.099 92.943 Total funds 17 227.971 185.450 The finan¢1 lements on pages 10 to 22 aFproved by the truste8s. aNJ aUlhiS8d for is$ug slgn•d c4) Iheir behaf ty. Jan Slannard Chair notes on pages 12 to 22 fom) part of ttse finongal stalamonts. Pagè 11
H•81 R•wlldlng CIO Not•• to the Fkn¢lal Stat•mw)ts forthe Year 31 March 2023 1 Ac¢ountlnu pollcl•s Statement ofcomplknce and b•&l8 of preparat Thg flnarKaal Statem hav8 boon rxeparod under hsstothl c1 convention vrfth ilems cogni$8d al ¢08t (Y tran8acllJn value unless staled othèrvAse th theso t•s. Tho finantyal statements havg beèn pr8par8d in ac¢cthc& with Ac{nting and Rèrrtxung by Chwilies.. Statsm•nt of RgCcrfnrndfjd Pwtlcè 8ppli¢abJo to ¢ha85 pr¢paring th ¥counls In aCrar• wtth thg Flnanctal R8porbng Stsndard applicat4& in Ihe UK and Republic of Irojand {FRS 12> li5sued Octob&r 20191- (Ch8rilies SORP IFRS 10211. tha FirArda Rep9 Standard appucable In Ihe Unll Klng(lom and R9publ ef Ir•land IFRS102). and tha ChartU85 kl 2011. Heal RewldlTrJ CIO me¢iÈ the d•flnitKm ofa Iwbf¢ bfft 8nW urthr FRS 102. Golng cone•rn Tl charity ig prlmarity engaged V•ilh tho rwklwv4 ol laTrJ to rost bhib)gi¢al dNersty and yst8mi 8rd Ss therefore rekn on récèlpt cl Oonalions. an1 fundkng aTrJ other incorne straams $uch as eetrlourism. ¢¢xporats aTrJ publ evts, a1 8kl¥gr£Ify Not Galn IBNGI to gèngrate 8uifid8nl cash to meet Interest aThJ caW repayments cm k)ans as Ihty fall due. Followng the ygar ¢nd. in June 2024 the thrity atyeed an arnendment lo Its origlrkal loan agre8ment wrth UK Insurance for an £ddrtlonal 18cilty, wa8 us&J to repay in full the Trl¢(los Lo¥n. Folln9 the re-financing, the ¢harity rw has h)ans to1a £S.Sm with UK knsur8nce vhlh th& first capltd p8ymenl not due until 30 Auwsl 2027. Th8 Trn8tses art ¢onfh48nt that thè charlty be sUSlI in generatir& suffic49nt Kwme to meet Ihè payments under thls loan 09reemanl the bas of ihe forecasts propared. tog81hor with the relhancww. have wgparnd tho accounts 8 gokvJ bth. Prlor porlod errw8 Whèr8 an error or admisslon ts Ienbr in respgd of ¢omparatNe figures thig Is adjusted In Ihe prgc6dlrKJ period. Incomè and ondowments AM Income Is retWi8ed when Ihè charity èntiuwnenl to tho ¢8, ft L8 probabl6 that the irKomo will b8 recoiv8d and the amounl bts measured wTrth suffi¢bBni rehabuty. Donatlon8 and l•ga¢lo8 Donations and le9 récwed on a b& rnc8ipt F)robabf& and the amount can b8 rel10Y rnea5ured. Investm•nt In¢om• Investment incom& is 0@nI$¢d recelvable. Pagè 12
Il•al Rv•Aldlng CIO Not•¥ to tho Flnanclal Stat•mthts for tha Year Ended 31 IAarch 2D23 Icohtlnu•dl Expèndltur• All axpondrturo Is reccJnlsed is a c+thgatiL to that 0xp9tre, tt 1$ probable 8eluemt Is requlred and the amount can be measured rellatly. AU ar8 allocated to th& appn¢ab18 •xpaThJliurè hèading th8t aggregatè similar costs to that category. WheTe Costs cannot t dIrecY attributed to p8rtb%l¥ h&adings they hav& bgon dk¢8ted on a basls conslstent thith th& use of rosources, central stsff ¢08ts alhxaled on the basts of Iwne spent. and depreciation charges allocated on Ihe ol Ihe aSS w. Other su0rt costs aro alhxale¢l b8s•d on th• pread of staff costs. Al resour exponded are incluBfve of VAT. Ralslng fund8 The8e are wsts Inwrred in attractirwJ vokntwy uwx)me and fhcw lThxrnJ in Irathng acteS that r¥l8e funds. Charltabh acthTltle• Charitable expendi18 ccffjkThos Ihow cts incurrej by tho chty in Ihè defvery of Its ac1mo5 and s8M&qs for ils bèneficiaries. It ilUdeS trrtjih costs thal can aed direcly to such actiwti&s and thos• etssts of On indirect nalure r¢essary to WJFWt thom. Taxatlon The charity is a ragl$t8red charity and Is. thgrofc¢è, •xgmpl frcm Ir¥bllty to la¥atp)n ¢)n In¢ome and capital galns. to the extent that they 8rè 8Wied flythwttable purproes. Infanglbl• as$•ts Intan9ible assats are stsj in th• BarKe Shgat ai cost 18s8 awjmulaw amorti881ion and ImpaiOnL Thoy ar¥ amortis&J a slrabJht fiw basL8 over èstimated useful hves. H•rltao0 assèts Th6 charity hold5 herltag& assets. are t8roibl& assets of sd&nlifK are hgld to advance the pr8s8rv8tk nserVath)n rt4ects of the charlty. NoY wrcha8ed heritag9 as88ts are capltslised and includ•d at eost indtxkng any rKidenW costs ol w(l$it. Investm•nl$ Inv851rngnts in Subsidiary undwlakirvjs are rfu(1gd in tho balan¢8 she8t at cost impaIrn Cash and cash èqulv•l8nts Cash and cash ewivalenls comwis¢ ¢ash on hand and call and othar sh¢xt-t8m hl9hly Iiquld Inv&strnenls that are readily ¢fy)v•rtitle to a knchyn arn¢nt of and am subIL t¢ on n9nIfIcant dsk tsl ¢hong6 in val Fund stru¢ture unr8stri8d income furth we general fvnds that are avoiLqt4e for use at the trustees dlsc¥¢liw In furtherance ol the oblect6ves of tho charity. Restrict9d in¢ome funds thos8 donaled fc¥ in a pw11r area or for ScIfiC purpos8S, the usg ofwht¢h i8 restrKtsd to thal Are8 or purpose. P*Je 13
H•al Rewlldlng CIO Noto• to th• Fln•nclal Stat•m•nts forthe Yr End 31 March 2023 (contlnu•d) P•n•kn Tha tharfty oper8ts8 a defined ¢crtrilxthn scheme, COrItiOnS payabjo to the ¢c¥np$ pen8vJn xtme oro thwged kn Ihe 8tstsm8ntofffirArK?•l aclmkn In the perK)d to whith thgy relalg, Fln&nGlal In8lrwnents Cla••lflcatlon The charfty only enter5 intv ba51c finandal fnstruments Ihal rogJlt n tho r9)It)n of rmClaI assets Ilabllitks 8u¢h 0$ trado and other debtors aTrJ cth"tWS ko8therwth loans lo ralatsd pertias. Dèbt Instruments, such as trai1¥ debttrt aFYl Credit8, ar¢ inlljally measur8d at transaction Wbce Wxt 8ubsequenUy m888ured 818miMUsed ¢08L Fknanclal a888ts are assessed al the e1 of e¥h Ferlod for obieckn eWd¢? of knpalrn)onl. If objectiv• 8vidon¢e of impalrmenl i8 an Impoirrn&tt krts Is r•colsd in lh8 Inccffie statement. Crttlcal Acccwntlng EthMto1 and Judoom¢nts Thg w8paralion of the finandal statements in conftymty wth FRS 102 r•qulres management lo makè ludg8m8nt$, esllmatss and assumpi•)rts thal alltthe of aThl reFQrtgd amounts of assets and liabilities, and expenses. EslNnales 8NI IgeM¥nts are ¢cfflUnu8lly ev8hJat8d 8nd ar• based cffi htslorftsl exporience and olhof f8dors, i1lutIng exp8¢tailon8 of fulur6 èvents that •re believed to ba rtasonabb undèr the ¢Umst8ncfjs. Thè company makes eslm8tÈs and aSSumptkM cyjnceming the fvILNe. The r•sultiwvJ accountkn astimates by dofinibon. seldom equal tho rejated aclual results. The Trustees considgr that th&ra are no crikncal accounbng estbmates and judgemonts have a sTr3nifiwl risk of causlng 8 mat8rJal arfiuslmenl to the rn9 amounts of a$s8ts and liab1¥ Trthin no fIncIal year. 8a$ls of Con8olldatl¢n The finan¢lal slaternenls present atxrt Ihg charity as an Indlu81 undowtskirvJ and not about group. Th9 chartty aThJ Its subsld(8ry undartsknngs. comprfs& a smalWzed group. Th8 charlty has Ih6r•fore tskon advantsge of the provhyed by thé Chèrilbgs SORP {FRS102) 8nd the Compan18$ Act ftr $mall groups and consc4tdaied aOunt$ are not wep8r8d. Pag6 14
He41 Rewlldlng CIO Not•¥ to the Flnanel•l Stat•m6nts for the Yr End•d 31 March 2023 (contlnuedl 2 Income from donatlons and1•gaelo8 Unr•8trf¢t nds R•strktod funds Total fvndg Don8tion8- Land fijnd Donations Sponsor8hips Grants- Land fuThJ Gronts- NEIRF Grants FundralsiThJ Total for 2023 84.575 84.57S 80.148 50.000 10.OCX) 83,638 5,0 18,832 80.148 10.000 83,838 18.832 153.980 178,213 332,193 tlonab'ons- Land fund t>onabon$ Sponsorships Grants Fundralslng Total for 2022 S5.916 55.918 58,361 50.000 30.000 25,515 58.361 .000 30.0j 25.515 163.876 55,916 219.792 3 Inve¥tment Incom• Unr##trlct9d funds R•strlct•d funds Total fund$ Other investment Inm$ 2.686 2,686 Total for 2023 2.686 Total for 2022 4 Exp•ndlturè on rnl$lng funds al Ralslno funds Unrestrlet•d funds Re¥trfctgd funds Total lunds Fvndralslng 5,452 5.452 Total for 2023 5.452 5.452 Fundralsing Total for 2022 12,115 12,115 12.115 12.115 Pagè 15
H•al Rowmdlng CIQ Mots• to th• Pknanclal stat)1 forth• Yoar Endod 31 Mwch 2023 Icontlnu•d) •ndltyM on tharftab a¢tfvlths Unr•strlct8d Restrlcted funds Total funds Othor axpens88 Int8fÉSi Wa98s & salaTi8S aKI m81llt8nan 5,621 89.706 5.621 69.7( Travd R•nl Insurance Consultancy & profes$Kal 1888- NEiRF Consultancy & professtwal fees IT, phwes ond sofhya Mark8ling Total lor2023 6,861 8.118 6.881 8,118 360 7.943 83,638 46,208 9,891 4,020 286.9t 7.943 83.638 46208 9.891 4.020 203,288 83.638 Other oxpénsés WA969 & 88larfes Tr8v81 Rent Insurance Conwltancy & profa$W feèg IT. phongs ond 8oftw8re Marketin9 Total for 2022 1.310 51,554 1.958 720 1.310 51,554 1.958 720 9,9 7,427 13.198 7,427 13.198 87.002 87,002 Paga 16
Haal R•wlkllw CIO Not•* to th• Flnancl81 Statsments lor th• YoAr EThd 31 Mareh 2Q3 Icontlnuodl 6 Trustges MMUratIon and èxpen No trusteeg, any Pers hith Ihem. have rKelb¥J 8ny rneratIon fr(¥n the charity durfng the y8ar.12022- MI One trustee (2022: Noro) was rgwnlyJrs•J for Irr& dwing the ygar of £4,31312022.' £NIII Credli ors incbJd8s £Nil 12022: £4,519) of tt re rMbUrSd in th9 2022-23 noncial year, 7 Staff costs Tho aggreg8tg payYoN frJsts werg 8$ 2022 SaLqri$8 So¢lo1 Sr Pensk)n cosls 43,044 49,904 523 1.127 44.539 51,554 No employee receNed omoivrnents of miyo than £60.0 the year The total employ¢0 benefrts ot the k8y manag6rn8nt Porsonnel of th8 thBrfty £33,591 12022 - £30,862). Tho av&r8ge headent durityd swr wa$ 2 {2022: 3} 8 AudJtornllndèptrnd•nt èxamlnoe• remun•ratlon 2023 2022 Audll Ae¢t)unts lTrJependent examlnatiLin. Predec8wf 1,440 1.440 10,500 Page 17
H1 Rowlldlng CIO Nots8 to th• Flnan¢lal Stst•mèntg ftyth? Y•ar En(l•d 31 March 2023 {contlnu¢d} 9 T•xatlon Thè charfty is a rogi8tsred ¢h8rtty 8TrJ Is th8rth eMpt frr4n xth)n io thé exlenl tlw ar8 ap for ch8ritsbl8 10 htangtblo fix•d ass•ts Sportlng rfghts Total Cost AddSllon$ 18.000 At 31 March 20ZJ 18,0 18.000 Amortl*atlon At 31 Mar&1 2023 N•1 book valug Al 31 Mah 2023 18.000 11 H¢rttag• ass•ts Land and bulldings Toial Cost Addluons 5,524.966 5.524.966 At 31 March 2023 5,524,966 5.524.966 D•precl•tlon At 31 March %)23 Nel book val Al 31 March 2023 5,524.966 S.524.966 8umm•ry of trJnuctlon• 12 Flx¢d •¥•et Inv•slménts At th8 balarKe sh9¥1 date, the thaiity has $ub8KJiary ccxnponies. Hoal Rewldlng lEntp119&S) Llmitsd leompany number. 123858721. Heal Rewldino CIO 100% of the share capital. The company was dcmnt th[wout the tren{ and previws finandal pedods. H8al Somerset Llmiled prev1J$1Y Heal 8th Limited l¢))mpany numb4r. 133537091. Heal Rgwitd¥ig CIO own8 100% ofthe share Heal North Umtted (CompY numter. 13357428}. Heal R¢wI CIO tr•ms 100% of the sharè capit81. The company wa$ dormant thrwI¥t th• ejjrrent aThJ financlal pariLtyts. Paga 18
Hoal Rowmng CIO Notss to th• FIn•Ill Stat•moth forth• Y•ar En(knd 31 IAar¢h 2023 (contlnu•d} 13 D•btoY• 2022 Trade deLrtors Dua frorn group undert8klngs Pr8paymènts and a¢cAd In¢omo VAT Other d&btS 3.953 121.405 19.739 428 40.850 882 145.525 41,732 14 Credltorn: amounts falllng du• wlthln yèar 2023 2022 Tradè cr•Jitorg Other creditors Aeerual8 and ¢Jef&rred incomo D&feffed ¢¢Sideration Lo&n$ 215 11.396 17271 1Cw).OC 319.OCK) 11.695 15 Cr•dltor¥: auntI fttlllng du• •ft•r one y•ar 2023 2022 5.186,775 18 s0CLÈr d¢bts Crodilors includg tho lolloknJ Ilabliti08, SèeUFity has t*n gb4en by tha ch8rfty: 2023 Trfo(los Bank UK Insurance Lmnil 3.620,OCIJ 1.88S.77fj 5 505 775 Th• kan from Trkths knk of £3.620.OCM) securwj by a charge over lh8 fr1 property 81 Lower West Barn Fam, Witham Friory. Frome, Somer5eL BA11 &4H (xxnwising of 460.66 acres of agri¢ullural laThJ, bU11ng5 and thIlIng$. In adth). a debenlure In th8 form proMd•d by Ihe Bank comprising a fh)ating ch8rge ovw all assets 8nd uThJèrtakin9È (both wes8nl futur81 of th8 Charity, The hjan 1$ over a 5 year wtth thfr itAl agroemenl daw 29.12.2022. The Interest rate on Ihe 108n18 7,25%. The loan from UK Insurance UmSte(l of £1.885.775 Is also secwed by a legal thr99 over thg above property. A6 out in not8 21. folng the yr Iho drity T08tr4rthred its dobl P89• 19
H•al R•wlldlny CIO 14otes lo th• Fln•nclal Statsm•nts for tho Y•ar End•d 31 Alarch 2023 (ntInu•d) iJ8e of lh¢ land fund is rnstrlrted to the purch8s8 ofknd f(¥ r¢vAthry mxpose8. Naluial Envlronment 1nvèstrn RdinesS Fund was recead frcffi tho Envlronménl Ag and is for the purposo of creaung a blueFxlnl for PTlvats InSIMon1 In rw ICand rvthldlThJ slies. 18 Analy•l• ot n•1 aw1¥ b•tW fund8 Tgtsl fun at 31 M•r¢h 2023 Unr•strl¢l•d R•8trkt•d lund$ lund5 IntsngtrA8 fixed ass$ Her1898 8$sets FLyed asset Inv08tments Current a8S8ts currnnt1l81ilie9 Creditors over 1 ar Total ngt assats 18.(#JJ 5.400.966 18.OCKJ 5.524,966 124.( 239.542 1436.864) 5.186.775 69,099 308.641 1436.8641 5.186.775 34.872 227.971 Tolgl funds al 31 March 2022 Unretstrkt lund• Restrl¢t•d nd8 FLYed asset investments Current assets Current liabililes 104,199 2.943 197,142 11,695 185.450 Total reststed ng1 a5$0ts 92,507 92.943 19 R•lat•d party tran$actlons Ther8 were no 10 p3rty tr8ll58clh)ns In th8 (2022- Nill. Page 21
HMI R•wlldkng ¢10 Not•• to th• Flnandal St4tsment forth• Yr Endtsd 31 Mar¢h 2023 (eonllnuod) 20 L•gal InfomiJtion H&al Rèwldlng CIO Is re9lstergd vAlh char8S Comrnlsstc¥) In England. The rog181ored ch8rlty number 1$ 1187992. The regl$ler8d offic• h LawWeg1 Bam Farm. Wnham Frlgry, Frorne. Scffjer891. BA11 SHH. 21 Post balanc• sha•t ov•nts After the ypar end. In June 2024. the clwity Sd an amfjndm8nt apmment UK Insurance Limlted, ¥thlc Inueased th$ total amounl borro1 UK Insur8rKe Lwnmed to £5.SOO.C#)O. Follwng Ihe drawdown of th68e additial funds. tho Tr0$ Bank h)an was repaid In full tn June 2Q24. The lending frcth UK Insuranca comprtses kn faclitks. Flity A £3.000,(K at 0.5% interest per annum and FodW B bekw £2.,¢)) at 3% ktsresl per anrwm. Interest on Faolity A k8 paydbl8 nUty h) 8ff&ws. Interest cm Facllty B Is ffirst payablo kn Augu8t 2025, 8r¥J thereafter annually Sn arrws. Both fadlltlès aro s90 tho laThJ a4LthrJ by tho charlty by way of a first legal mortgage over the PfOPÉrty and land al Wtham Frlary. a fii$l fixed tharge over any insurance ¢181ms. rènt. ¢ontracls rolaung lo Ihe prr¥)6rty, and au present and fukjre goothu asbj a f$1 Iloa14ng ¢harge ovw all pwgnt and futu thattels. 22 Prfor perlod adlustm•nt During th& year It w3$ idenllfied that the knveslmgnt in of the dc¥manl tr8dlng subsldiari&8 h1 been omHtod from Ihg tsalarkce sheet In the p8rithI. A prjor p9¢a adjustment has been mado lo Irj In these Inveslments at cost. The result 1$ a £2 Increas8 to Investm•nts ond 8 £2 Inue8se Eo tota chty funts. Page