Charity registration number.. 1196458
Ilchester Nature Trust
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2024
ocm
acmole

Ilchester Nature Trust
Contents (continued}
Reference and Administrative Details
Trustees. Report
2104
Independent Examinerfs Report
ststemenl of Financial Activities
Balance Sheet
Cash Flow Statement
Notes lo the Financial Statements
91014

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
Prlnclpal OffSce
Hainbury Farm
Ilchesler
Somerset
BA22 8LA
Independent Examiner
Sarah Twist FCA DChA
A C Mole LLP
Chartered Accountants
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 year
ended 31 March 2024.
Objgctivgs and activities
Objects and aims
The Objects ofthe 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 Natijre Trust carries OLJt 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 Ilchesler Primary School, lo promote understanding 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.
Achievements and performance
During the year we achieved the below..
Complete renovation of farmhouse and collage, including new mains connections and rewiring.
Development of partnerships with Ilchester Parish Council, Ilchesler Primary School and The
Bumblebee Conservation Trust.
Submission of planning application in July 2023.
Landscape Ecological Management Plan (LEMPI and Construction Environmental Management
Plan ICEMPI written for Nature Reserve.
Maintenance of trees on land lo be converted lo the Nature Resetve.
- Wildflower meadow planted.
Financial revigw
During the period, income from donations and legacies lotalled £Nil 12023.. £2,032,343) as shown in
note 2. In addition, small amounts of rental and interest income were received bringing the lolal
income of the charity 10 £10,22712023'. £2,040,090).
Expenditure on charitable activities during the period lotalled £16,874 12023= £13,662) as detsiled in
note 5.
Overall a deficit of £6,64712023'. Surplus of £2,026,428) was incurred in the period.
Page 2

Ilchester Nature Trust
Trustees. Report {continued)
Policy on reserves
The reserves policy is lo hold reserves sufficient lo meet the working capital requirement of Ilchester
Nature Trust against a background of no external funding.
Total reserves as at 31 March 2024 stood at £2,019,781 12023.. £2,206,428), all of which were
unreslricled funds. Of these reserves £1,610,52512023.. £1,521,000) are held as fixed assets leaving
the charity with free reserves of £409,52912023.. £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 its charitable purposes.
Plans for future perlods
Our plans for the future are as follows:
Marketing of Farmhouse and Cottage.
Development of strategic partnerships.
Monitoring progress of Planning Application, and responding lo Consultees.
Application for relevant funding eg Biodiversity grants.
Maintenance of trees and wildflower meadow.
Structure, governance and management
Nature of governing document
Ilchesler Nature Trust is a Charitable Incorporated Organisation registered on 8 November 2021.
Recruitment and appointment of trustees
The vac8ncy 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 a 6 month probation period, during which the appointee is given an induction into the
mission, values, and activities 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 Ituslee has in order lo enable them lo best fulfil their
role, these will be discussed and approved al a subsequent board meeting.
Page 3

Ilchester Nature Trust
Trustees. Report {continued)
Statement of Trustees. Responsibilities
The trustees are responsible for preparing the tfUStees' report and the financial statements in
accordance wlh applicable law and United Kingdom Accounting Standards including Financial
Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of
Ireland Iunited Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Iruslees to prepare financial
stslements for each financial year which give a true and fair view of the stale 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 consislenily-
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 al 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 ststements may differ from legislation in
other jurisdictions.
3110112025
The annual report was approved by the Iruslees of the charity on
behalf by.
and signed on its
Pahgd Wc//i(Dkn 71 Y~.9
Patrick Young
Chairman and Iruslee
Page 4

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 2024, which are sel out on pages 6 to 14.
Responsibilities and basis of report
As the charty Iruslees of Ilchester Nature Trust 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 carrwng out my examination I have followed all the applicable Directions
given by the Charf(y Commission under section 145{5llb} of the 2011 Act.
Independgnt gxamingr's statgmont
I have completed my examination. I confirm that no material mallers have come lo my allenlion in
connection with the examination giving me cause to believe Ihal 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 concerning 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
Slafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Dale..
Page 5

Ilchester Nature Trust
Statement of Financial Activities for the Year Ended 31 March 2024
Unrestricted
funds
Rèstrictad
funds
Total
2024
Note
Income
Other trading activities
Investment income
8,596
1,631
8,596
1,631
Total income
10,227
10,227
Expenditure
Charitable activities
16,874
16,874
Total expenditure
16,874
{16,874}
Nel expenditure
6,647
6,647
Nel movement in funds
16,6471
16,647}
Reconciliation of funds
Totsl funds brought forward
2,026,428
2,026,428
Total funds carried forward
12
2,019,781
2,019,781
Unrestricted
funds
Restrlcted
funds
Total
2023
Note
Incomg
Donations and legacies
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
113,662}
{13,6621
Total expenditure
113,662}
{13,662}
Nel income
2,026,428
2,026,428
Nel movement in funds
2,026,428
2,026,428
R9conciliation of funds
Total funds carried forward
2,026,428
2,026,428
The notes on pages 9 10 14 form part of these f1nancial slatemenls.
Page 6

Ilchester Nature Trust
(Registration number- 11964581
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixgd assgts
Tangible assets
1,610.252
1,521,000
Current assets
Debtors
Cash at bank and in hand
10
213,836
287,777
501,613
126,256
393,212
519,468
Creditors: Amounts falling due within one year
11
92,084
14,040
Net current assets
409,529
505,428
Net assets
2,019,781
2,026,428
Unrestricted funds
2,019,781
2,026,428
Total funds
12
2,019,781
2,026,428
The financial stslemenls on pages 6 to 14 were approved by the trustees, and authorised for issue on
and signed on their behalf by..
3110112025
_ H yfjw79
Patrick Young
Chairman and Iruslee
The notes on pages 9 10 14 form part of these f1nancial slatemenls.
Page 7

Ilchester Nature Trust
Cash Flow Statement forthe Year Ended 31 March 2024
2024
2023
Note
Cash flows from opgrating activitlgs
Nel cash lexpenditurellincome
16,6471
2,026,428
Adjustments to cash flows from non*ash items
Investment income
11,6311
18,2781
{913}
2,025,515
Working capital adjustments
Increase in debtors
Increase in creditors
10
{87,5801
78,044
1126,2561
14,040
Nel cash flows from operating activities
117,8141
1,913,299
Cash flows from investing activities
Interest receivable and similar income
Purchase of tangible fixed assets
1,631
189,252
913
1,521,000
Nel cash flows from investing activities
187,6211
11,520,087)
Nel Idecreasellincrease in cash and cash equivalents
{105,4351
393,212
Cash and cash equivalents al 1 April
393,212
Cash and cash equivalents al 31 March
287,777
393,212
The notes on pages 9 10 14 form part of these f1nancial slatemenls.
Page 8

Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accountlng pollcles
Statement of compliance and basis of preparation
The financial slalements have been prepared under the historical cost convention with items
recognised al cost or transaction value unless stated olhenNise within these notes. The financial
statements have been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS 1021 lissued October
20191- (Charities SORP IFRS 1021}, the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland {FRS1021, and the Charities Act 2011.
Ilchesler Nature Trust meets the definition of a public benefit entity under FRS 102.
Going concern
The Iruslees consider that there are no material uncertainties about the charity's ability to continue as
a going concern.
Income
All income is recognised when the charity has entillemenl lo the income, il is probable that the income
will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the
amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot
be directly allributed lo particular headings they have been allocated on a basis consislenl with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
All resources expended are inclusive of irrecoverable VAT.
Charltable actlvltles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. 11 includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary lo support them.
Irrecoverable VAT
The charity is registered for VAT. All expenditure is staled inclusive of VAT. Irrecoverable VAT is
charged against the expenditure heading for which il was incurred.
Taxation
The Charity is a registered charity and is, therefore, exempl from liability lo taxation on its income and
capital gains, to the extent that they are applied for charitable purposes.
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Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 leontinuedl
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation
and subsequent accumulated impairment losses. Freehold land is not depreciated.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly
liquid investrnenls that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use al the trustees discretion in
furtherance of the objectives of the charity.
Financial instrumgnts
Classification
The charity only enters into basic financial instruments that result in the recognition of financial assets
and liabilities such as trade and other debtors and creditors together with loans to related parties.
Debt instruments, such as trade debtors and creditors, are initially measured al transaction price and
subsequently measured at amortised cost.
Financial assets are assessed at the end of each reporting period for objective evidence of
impairment. If objective evidence of impairment is found, an impairment loss is recognised in the
income statement.
Critieal Accounting Estimates and Judgements
The preparation of the financial statements in conformity with FRS 102 requires management lo make
judgements, estimates and assumptions that affect the application of policies and reported amounts of
assets and liabilities. income, and expenses.
Eslimales and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
The company makes estimates and assumptions conceming the future. The resulting accounting
eslimales will. by definition, seldom equal the related actual results. The Trustees consider that the
following critical accounting estimates and judgements have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial year.
Development costs within prepayments
Planning pem)ission is yel lo be granted lo develop the land and nature reserve held by the trust.
Costs incurred in relation to the development land and creation of the nature oserve tolalling
£211,973 12023.. £124,264} are being carried forward within prepayments. If permission is not
obtained then these costs may need to be written off.
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Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 leontinuedl
2 Income from donatlons and legacles
Unrestricted
funds
Restricted
funds
Total
funds
Donations and legacies
Total for perlod ended 31 March 2024
Donations and legacies
2,032,343
2,032,343
Total for period ended 31 March 2023
2,032,343
2,032,343
3 Income from other trading activities
Unrestricted
funds
Restricted
funds
Total
funds
Rental income
8,596
8,596
Total for period ended 31 March 2024
8,596
8,596
Rental income
6,834
6,834
Total for period ended 31 March 2023
6,834
6,834
4 Invostmgnt income
Unrestricted
funds
Restricted
funds
Total
funds
Interest income
1,631
1,631
Total for period ended 31 March 2024
1,631
1,631
Interest income
913
913
Totsl for period ended 31 March 2023
913
913
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Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 leontinuedl
5 Expendlture on charltable actlvltles
Unrestricted
funds
Restricted
funds
Total
funds
Professional fees
Accountancy fees
Bank charges
13,377
3,492
13,377
3,492
Total for period ended 31 March 2024
16,874
16,874
Donations
Professional fees
Accountancy fees
Bank charges
6,750
1,995
4,909
6,750
1,995
4,909
Total for poriod ended 31 March 2023
13,662
13,662
6 Trustees remuneratlon and expenses
No Iruslees, nor any persons connected with them, have received any remuneration in relation to their
role of trustee of the charity during the period. See note 14 for details of related party transactions
12023.. None).
No Iruslees have received any reimbursed expenses from the charity during the year12023'. None).
7 Independent examiner's remuneration
2024
2023
Independent examination
Other services
3,228
264
3,000
1,909
3,492
4,909
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Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 leontinuedl
8 Taxatlon
The charity is a registered charity and is therefore exempt from liability to tsxalion on ils income and
capital gains, to the extent that they are applied to charitable purposes.
9 Tangible fixed assets
Land and
buildings
Total
Cost
At 1 April 2023
Additions
1,521,000 1,521,000
89,252
89,252
Al 31 March 2024
1,610,252 1,610,252
Depreciation
At 31 March 2024
Net book value
Al 31 March 2024
1,610,252 1,610,252
Al 31 March 2023
1,521,000 1,521,000
10 Debtors
2024
2023
PrepayTnenls
Accrued income
Other debtors
211,973
122
1,741
124,264
167
1,825
213,836
126,256
11 Creditors.. amounts falling due within one year
2024
2023
Accruals
92,084
14,040
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Ilchester Nature Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 leontinuedl
12 Funds
Balance at
April
2023
Balance at
31 March
2024
In¢omg
Expgnditurg
Transfgrs
Unreslricled funds
2,026,428
10,227
116,8741
2,019,781
Balance at
Balance at
31 March
2023
November
2021
Incomg
Expenditura
Transfers
Unrestricted funds
2,040,090
13,662
2,026,428
13 Analysis of net assets between funds
Total funds
at 31 March
2024
Unrestricted
funds
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
1,610,252
501,613
192,084}
2,019,781
1,610,252
501,613
{92,084}
2,019,781
Total net assets
Total funds
at 31 March
2023
Unrestricted
funds
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
1,521,000
519,468
114,040
2,026,428
1,521,000
519,468
14,040
Total net assets
2,026,428
14 Related party transactions
Robert Rhys a Trustee of Ilchester Nature Trust is a Chartered Surveyor working as a sole
praclilioner. During the period, fees totalling £13,851 12023: £38,077) were invoiced lo the charity in
relation to professional services.
David Taylor a Trustee of Ilchesler Nature Trust is also a director of The Urban Engineering Studio
Ltd. During the period fees lotalling £14,06512023.' £12,943) were invoiced lo the charity in relation to
professional fees.
The development land held by the charity is a 113 share of a plot of land of which Patrick Young, a
trustee owns a third. During 2024, a third share of the development costs incurred by the other two
owners were recharyed to the charity. As at 31 March 2024 £85,807 was owed by the Charity12023'.
£10,997).
Page 14