Charity registration number.. 1196458 Ilchester Nature Trust Annual Report and Unaudited Financial Statements for the period from 8 November 2021 to 31 March 2023 ocm acmole Ilchester Nature Trust Contents (continued} Referen￿ and Administrative Details Trustees. Report 2to5 Independent Examinerfs Report ststemenl of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements 10t014 Ilchester Nature Trust Reference and Administrative Details Chair Patrick Young Trustees Patrick Young David John Taylor Rev Daniel George Harding Young Robert David Arthur Rhys Charity Registration Number 1196458 Principal Office Hainbury Farm Ilchesler Somerset EA22 8LA Independent Examiner Sarah Twist FCA DChA A C Mole LLP Chartered Accounlanls Stsfford House Blackbrook Park Avenue Taunton Somerset TA1 2PX Page 1 Ilchester Nature Trust Trustees. Report The trustees present the annual report together with the financial statements of the charity for the period ended 31 March 2023. ObjKtives and activities Objects and aims The Objects of the CIO are.. IA) To promote for the benefit of the public the conservation protection and improvement of the physical and natural environment by promoting biodiversity,. and IBI To advance the education of the public in the conservation, protection and improvement of the physical and natural environment. Objectives. strategies and activities The Ilchesler Nattjre Trust carries out the following activities in furtherance of ils charitable objectives= planting of trees and other activities that improve the natural environment working with the local Community, particularly Ilchester Primary School, lo promote understsnding of, and participation in, the natural environment. Public benefit The trustees confimi that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Achigvemgnts and pgrformancg A partnership was developed with Ilchesler Primary School to promote awareness of biodiversity among the school children. In December 2023, the children helped plant 50 lime trees on the land that will become a nature resetve. A partnership was also developed with Schumacher College in Devon whereby a Masters student delivered awareness raising workshops with the children in Ilchesler primary school. The Trust funded the erection of a polytunnel to enable the children lo learn about growing their own food. This has been a hugely popular inilialive, particularly among children with special educational needs. A baseline was carried out on the land on key indicators for biodiversity such as flora and fauna, along with soil and water quality. The data was collated into a website through the process of mapping the key indicators visually. This will enable the Trust lo quantify the differen￿ that the conversion of the land lo a nature reserve makes to biodiversity. The nature reserve was planned in detail through consultation with local people and with the guidance of a respected ecological and biodiversity group company A partnership was established with Building with Nature. which resulted in the plans for the nature reserve meeting all their standards of excellence. and being accredited with a Full Award. Page 2 Ilchester Nature Trust Trustees. Report {continued) Financial review During the period, income from donations and legacies tolalled £2,032,343 as shown in note 2. Of these donations £1.521,000 related lo the donated asset of Hainbury Fami. In addition, small amounts of rental and interest income were received bringing the total income of the charity to £2,040,090. Expenditure on charitable activities during the period lolalled £13,662 as detailed in note 5. Overall a surplus of £2.026,428 was generated in the period. Pollcy on reserves The reserves policy is lo hold reserves sufficient lo meet the working capital reqLJiremenl of Ilchester Nature Trust against a background of no external funding. Total reserves as at 31 March 2023 stood al £2,026,428, all of which were unrestricted funds. Of these reserves £1,521.000 are held as fixed assets leaving the charity with free reserves of £505,428. These funds are invested by the charity to generate positive returns, which along with generous donations from a range of benefactors, allows the charity achieve ils charitable purposes. Plans for future perlods Aims and key objoctives for future periods The planning application for change of use will be submitted to Somersel Council Partnerships will be further developed with Ilchester Primary School. Ilchesler Parish Council and the Bumblebee Conservation Trust, who have inpulled into the design and management of the future nature reserve. A management plan will be developed for the nature reserve once il has been awarded planning pem)ission. The farmhouse and cotlage will be renovated lo enable them lo be sold. Stru¢turgJ govgrnanco and managgmgnt Nature of governing document Ilchesler Nature Trust is a Charitable Incorporated Organisation registered on 8 November 2021. Page 3 Ilchester Nature Trust Trustees. Report {continued) Recruitment and appointment of trustees The vacancy on the board is advertised, with the specific skills, experience and person specification required. Applications are reviewed by the board, and a short list is established for interview. Applicants are interviewed by at least two current trustees, and appointed on the basis of the best match between their skills, experience and background and the needs of the charity. There is 8 6 month probation period, during which the appointee is given an induction into the mission, values, and 8Ctivities of the charity. If the appointee is successful in passing the probationary period, she or he is then appointed as trustee. If there are any training needs which the new Iruslee has in order to enable them to best fulfil their role. these will be discussed and approved al a subsequent board meeting. Page 4 Ilchester Nature Trust Trustees. Report {continued) Statement of Trustees, Responsibilities The trustees are responsible for preparing the Injstees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102.. The Financial Ret)orting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Iruslees to prepare financial statements for each financial period which give a true and fair view of the stsle of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consislenlly- observe the methods and principles in the Charities SORP-, make judgements and accounting estimates that are reasonable and prudent., stste whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial slalements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the conslilulion. The Iruslees 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 charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on behalf by. 3010112025 8nd signed on ils Patrick Young Chairman and Iruslee Page 5 Ilchester Nature Trust Independent Examiner's Report to the trustees of Ilchester Nature Trust I report lo the Iruslees on my examination of the accounts of Ilchester Nature Trust for the year ended 31 March 2023, which are sel out on pages 7 to 14. Responsibilities and basis of report As the charty Iruslees of Ilchester Nature TTUSt you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act'l. I report in respect of my examination of the Ilchesler Nature Trusvs accounts carried out under section 145 of the 2011 Act and in carfying out my examination I have followed all the applicable Directions given by the Chari(y Commission under section 145(5llb} of the 2011 Act. An Independent Examination has been carried out instead of an audit under Regulation 31lfl. The Charity has been granted an audit dispensation by the Charity Commission, dated 9 May 2024 under regulation 3413llbl of the Charities (Accounts and Reports) Regulations 2008. The dispensation is given based upon the information provided by the trustees that.. the exceptional circumstances outlined mean that an audit would be disproportionale., there are no constitutional or other requirements on the charity which require an audit; and the charity is not incorporated under company law. Independent examlner's statement sin￿ Ilchesler Nature Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualified to undertake the examination because l am a member of the 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 gimng me cause to believe that in any material respect.. 1. accounting records were not kept in respect of Ilchesler Nature Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records., or 3. the accounts do not Comply with the accounting requirements ¢on¢erning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view which is not a matter considered as part of an independent examination. 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 lo enable a proper understanding of the accounts to be reached. Sarah Twist FCA DChA A C Mole LLP Chartered Accountants Stafford House Blackbrook Park Avenue Taunton Somerset TA12PX Dale.. Page 6 Ilchester Nature Trust Statement of Financial Activities for the Period from 8 November 2021 to 31 March 2023 Unrestricted funds Restricted funds Total 2023 Note Income Donations and legaeies Other trading activities Investment income 2,032,343 6,834 913 2,032,343 6,834 913 Total income 2,040,090 2,040,090 Expenditure Charitable activities 13,662 113,662) Total expenditure 13,662 113,6621 Nel income 2,026,428 2,026,428 Net movement in funds 2,026,428 2,026,428 Reconciliation of funds Total funds carried forward 12 2,026,428 2,026,428 The notes on pages 10 to 14 fonn part of these financial statements. Page 7 Ilchester Nature Trust (Registration number- 11964581 Balance Sheet as at 31 March 2023 2023 Note Fixed assets Tangible assets 1,521,000 Current assets Debtors Cash at bank and in hand 10 126,256 393,212 519,468 Creditors: Amounts falling due within one year 11 114,040) Net current assets 505,428 Net assets 2,026,428 Unrestricted funds 2,026,428 Total funds 12 2,026,428 The financial stslemenls on pages 7 to 14 were approved by the trustees, and authorised for issue on and signed on their behalf by.. 3010112025 H y&urtg Patrick Young Chairman and Iruslee The notes on pages 10 to 14 fonn part of these financial statements. Page 8 Ilchester Nature Trust Cash Flow Statement for the Period from 8 November 2021 to 31 March 2023 2023 Note Cash flows from opgrating aGtivitlgS Nel cash income 2,026,428 Adjustments to cash flows from non