Rogistered Charily No.. 1201851 CE031330 Future Trees Trust CIO Report of the Trustees and FinanciaLStatements for the yèar ended 5th Aprll 2025 Wgnn Townsend Chartered Accountants Oxford
Future Trees Trust Contanl$ Pagg Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balanee Sheet 10 Statement of Cash Flows Notes lo the Financial Slalemenls 12-24 Detailed Slalemenl of Financial Activities 25
Future Trees Trust cio Report of the Trustees for the year ended 5th April 202S The trustees present their report with the financial statements of Ihg Charity for the year ended 5th April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities prep8ring their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1st January 20191. OBJECTIVES AND ACTIVITIES The governing scheme defines the charity's objects as being lo.. TO PROMOTE, FOR THE BENEFIT OF THE PUBLIC. THE CONSERVATION, PROTECTION AND IMPROVEMENT OF THE NATURAL ENVIRONMENT BY PROMOTING AND COMMISSIONING RESEARCH INTO HARDWOOD FORESTRY AND IN PARTICULAR RESEARCH INTO THE GROWING AND IMPROVEMENT OF BRITISH HARDWOOD SPECIES. AND THE DISSEMINATION OF THE USEFUL RESULTS OF ANY SUCH RESEARCH. TOADVANCE THE EDUCATION OF THE PUBLIC IN THE SCIENTIFIC RESEARCH WORK OF THE BRITISH AND IRISH HARDWOODS IMPROVEMENT PROGRAMME AND IN SUSTAINABLE FOREST AND WOODLAND MANAGEMENT. ISUSTAINABLE FOREST AND VVOODLAND MANAGEMENT IS DEFINED AS BEING DEVELOPMENT THAT MEETS THE NEEDS OF THE PRESENT WITHOUT COMPROMISING THE ABILITY OF F.UTURE GENERATIONS-TO MEET THEIR OWN NEEDS.) AIM To create genetically diverse breeding populations of tree species which contribute to the development of resilient, healthy and productive forests and to climate change miligalion. 08JECTIVES Through programmes of progeny trialling and the establishment of cbnal and seedling seed orchards. produce lesled material ol our core species. 2. Through pro9rammes of plus tree selection and the estsblishmenl of clonal seed orchards, produce qualified material of minor species, priorilising species for wood production and woodland resilience. 3. Carry out genotyping of our plus trees to characterise and better understand the genetic diversity of our breeding populalions. 4. Fulure proof our breeding populations by incorptsraling some selected trees of non-UK origin. 5. Promote the use of improved seed by forest nurseries and demonstrate the gains that ¢an be made from using improved material through a seiies of demonslrabon plots around the country. 6. By the means described above, contribute lo current policies to combat ¢limale change. enhancing biodiversity, disease resilience and carbon sequestration. 7. Promote conservation of the forest seneb'c re50urce5 of UK native and naturalised broadleaved species. Public benefit statement The Trustees have complied with their duly lo have due regard lo the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Future Trees Trust CIO Report of the Trustees for the year ended 5th April 2025 ACHIEVEMENTS AND PERFORMANCE Our aim is lo carry out the long-lerm scientific research, trials and testing required to develop the best adapb.ve and productive genotypes of the principal hardwood species both native and naluralised or introduced lo the UK. Our breeding programmes with oak. ash, wild cherry. sweet cheslnul. birch, and sycamore consiLler aspects ot vigour, form and disease resislan¢e while ensuring a broad genetic base for adaptability and resilience. The timescale is 15 10 20 years of continuous monitoring and refining before better material can become widely available. Future Trees Trust has established the disciplines and the procedures to ensure the best possible outcomes in the shortest possible timescale. The increased interest in sustainable forestry and homegiown limber production has given us a unique opportunity to demonstrate the value of our research and the need for long-lerm investment in tree breeding. Key achievements in 2024125 include.. Progeny trials for two of our core species, silver birch and Sycamore, have now been planted with year 2 data collected this winter. These are growing well, and we will reassess them in year 5. The Living Ash Project phase 2 has now been completed wlh the planting of 2 clonal archives. Our Seed Sourcing Grant projects have delivered on three minor species.. hornbeam, beech. and blackthorn, and we are progressing work on wild cherry. Craven Field, our new research woodland. has been planted with progeny trials, a blackthorn seed $18nd. and planting has commenced in sessile oak and wild cherry clonal seed orchards. Supersizing Broadleaves phase 1 has been completed. Demonslralion plots were planted in 2022 which was a very hol and dry springlsummer, and results are poor at two of the four siles with many trees dying. We want ID repeat this work with additional seed sources over the next bNo years. Continued support for the Palsy Wood Scholar. Continued support lor Eamonn Cooper PhD sludenl al Trinity College Dublin. Staffing changas James Macintyre has joined us as a Researcher. Ruaridh Phillips completed his year 85 the Palsy Wood scholar and Sam Carroll has joined us as the new PWS. Catherine Barton has joined us as our FinancelAdmin Assi51anl on a part-lime basis. The Board of Trustees mel in person and online quarterly throughout 2024125.
Future Trees Trust CIO Rgport of the Trustees Icontinuedl for the year ended Sth April 2025 FINANCIAL REVIEW Income 2024125 has been a great year for FL*ture Trees Trust as il's seen our team grow as we've taken on more projects. In a change from previous years, the level of public funding now exceeds that of charitable trusts putting us on a sounder financial footing. Total income forlhe year was £526k, of which £356K is reslricled to research. This figure represented a significant difference against budget and was primarily due lo the bringing forward by a year the planting of two ash archNe5 at the end of 2024125. Money received as a result of fundraising activity {bolh core and research) tolaled £236k thanks to our very generous supporters and an increasing understanding ofthe importance of our work. Core costs for the year lolaled £181k {2023124 £129kl. This increase is due lo a number of one off costs associated with the move to the new CIO entily, website and IT improvemenls and branding materials plus a general increase in Costs for professional services provided and the addition of admin support. While we continue to be heavily dependent on Charitable Trusts and Foundations, the percentage of this income against the total is reducing in line with previous years. Our percentage of funding from public sources ¢onlinues lo grow and means that Ihe charity income streams are more diverse. Defra continues to SUPPOrt the Living Ash Project and we again received funding from Scollish- Forestry. We are grateful to all our donors and supporters. without whom our work would not be possible. A full list of our supporters is included latèr in this Annual Report. Expendtture Su¢¢ess securing research grants in 2023124. has enabled us lo undertake new research projects and therefore our expenditure has broadened correspondingly. Much of our expenditure is on research both staff and project specific expenses. We have also made investments into our Brand development and systems within the organisalion. Strategic Partnership wlth the National Trust In early 2024, we launched an exciting partnership with the National Trust, aligning with both organisalions. strategic goa15. This collaboration enabled us ID relocate lo NT Buscol and Coleshill Estsle. 8dvanTr plans for National Cenlre, and establish a research woodland at Craven Field in Uffinglon, south Oxfordshire. By cornbining our slrenglhs, we reduce project risk while creating a valuable sector resource. This milestone also marks Future Trees Trust's first opportunity for direct land management, supporting our 10-year strategy and enabling us to increase awareness of our work. The next phase of our partnership project involves converting The Granary, 8 Grade 1 Listed heritage building, into a National Centre for Broadleaved Tree Improvement and Outreach. The National Centre will serve as an innovative hub fo¢u5ed on advancing environmental education, tree improvement, and sustainable forest management. Buiit lor learning and collaboration, il will bring together researchers, educators, and industry leaders lo drive positive change by promoting sustainable forestry practices and environment81 stewardship. We hope this development inspires the next generation by showcasing career opportunities in the forestry sector and encouraging future generations lo explore these pathways while f05tering a stronger connection ID the natural world. The Centre wll also play 8 part in addressing climate ¢hange by promoting sustainable practices, encouraging people lo take care of the environment and raising awareness of forestry's role in a more sustainable futu. Engaging the general public. particularly children and young people, is also a key focus of the Cenlre. Educating children about the environment fosters a generation of problem-solver5 and leaders commilled lo suslainabilily. By teaching them about the importance of trees and forestry in achieving climate goals, we lay the foundation for a greener future.
Future Trees Trust CIO Report of the Trustees Icontinuedl for the year ended 5th April 2025 In addition to the progress being made against our 10-year strategy, we h8ve also made significant progress in terrns of infraslruclure and future resilience.. We have now moved lo the new CIO entity. We have moved into our new ofFices al Cole5hill. The number of highly influential people who have agreed to become Vice Patron5 and promote the work that we do continues to grow. We have gone through a rebranding exercise and have updated our website and all commijnicalions materials. We are really excited about the future and the key role Future Trees Trust can play in delivering significant improvements across the sector and we look forward lo keeping our supporters informed of our developments over the coming months. RESEARCH PROGRAMMES Our research programmes are broad bul with an overarching aim of improving the quality of planfy'ng stock in terms of limber trails and ensuring that all our trials and orchards are genetically diverse, helping the next generation of trees lo thrive in our changing climate. Living Ash Proje¢l This year saw the culmination of len years work un(Jer the Living Ash Project ILAPI with the planting ol loleranl ash in two archives. ThroLJghoul this project, many ash resouffjes have been screened for resistance lo ash dieback, including research Iri815 that were planted long before the arrival of the disease140.000 Ireesl. new mass $eenIng Irials1155,000 Ireesl and progeny trials122,000 trees) planted by Forest Research, as well as trees in the wider environment ranging from nature reserves lo highly managed forestry e5tales. In the first five years of the project (LAP 11. we selected approximately 1,000 trees for tolerance lo ash dieback. These were gralled and planted on the public forest estate in 2019 and have been monitored every year since. However. these selections were made early on and disease progression was relatively slow in some areas. Five years on, a third of these, unsurprisingly, have died, a third are living with the disease, and about 30Q/o are still really healthy. Adding to this healthy third are 855 new, better. selections that we have made through LAP 2. These new selections have had prolonged exposure and greater inoculum pressure than the original LAP 1 selections, meaning their diebaek tolerance is likely much greater. I seleth'ons were made on the tree's phenotype - what disease symptoms are visible. We hoped lo screen all trees lo look for chemical markers associated with tolerance bul have not yet beon able lo gel this lo work. Genomic predictions can also be made as lo whether the Iree contains DNA markers associated wrth tolerance. and this work is being taken forward by colleagues al Kew. The trees were grafted al East Marling Rèsearch in Kent in January 2024. and have grown realty well. Six ramels Icopiesl of each tree were grafted and this winlerwere planted in the original archive in Hampshire and in a second archive in Clackmannanshire, again on the public loresl estsle. This work has been fully funded by Defra. for whom we are very grateful for their continued support. Going forward we will conkn'nue lo monitor the archives and key research trials, remove any unhealthy selections, and hope lo commence a breeding programme so that we can once again plant the graceful ash tree.
Future Trees Trust CIO Report of the Trustees Icontlnuedl for the year ended Sth April 2025 Supersizing Broadleaves This year saw the conclusion of our Supersizing Broadleaves Project which has been supported over the last three years by the Forestry Commission's Tree Production and Innovation Fund ITPIFI. Asking the question 'Whal happens when you lake the best seed available. raise il in the best way for that species, and establish it in the best way possible for a particular sile?, we planted three full factorial tll815 with 48 various Irealmenls to answer this. We used seed from tree improvement programmes for silver birch, pedunculale oak and sycamore and compared these lo typical source identified planting stock., we raised Ihem in two common nursery practices of bare Tool and cell grown, and then planted them with different establishment prolo¢ols, applying weed conlrol, lertilizer, a combination of these or no treatments as a control. Two of our trials planted on restock siles unfortunately suffered attack by three species of weevils in May 2024, a common pest of coniferous planl81ions and much less known lo allack ljroadleaves. We carried out a rapid assessment ol every tree in spring, and also recorded survival, growth and darnage this winter. Results were really interesting with the sycamore and birch that were badly damaged by weevil dying and the oak surviving, probabty due lo a larger root Collar at lime of planting land thus were not girdled) and with bigger laprools and resources. Because the trials are large and well designed, there are sufficient trees to still answer the original question. We only have one year data al present, so results are very provisional. The TPIF is being launched again in 2025, and we hope lo secure follow-on funding to allow us lo monitor these trees foT a few years more yet. Mlnor Spe¢ies and Wild Ch&rry These aim lo enhance seed supply of improved beech and wild cherry, as well as laying the ground work for future improvement programmes of other potential species like hornbeam and wild service. In two years, we have found 109 beech and 62 hornbeam plus trees, and the best of these beech trees have been climbed and graftwood collected lo establish a seed orchard al our new research sile. This winter, the team made a mammoth effort, travelling across the country. lo collect graftwood from 51 plus trees of beech, cherry 2nd oak from Devon lo Cumbria. We had two researchers in the field throughout January accompanying climbers and collecting precious graftwood. We have made around 500 beech grafts and await results later this year. There was favorable weather for beech growth last year. so the quality of gTaftwDod was good, and we are hoping to improve our number of successftjl grafts Irom the previous year. We also made almost 1.000 grafts froffl 114 cherry selections, including 18 new ones. Beech and cheiry grafts will be deployed in new elonal seed orchards al our research woodland. Craven Field, next winter. Also al this site, over winter, we have planled a genetically diverse blacklhorn seed sland to aid seed supply of this species as well as provide a source of pollen and food for local wildlife.
Future Trees Trust CIO Report of the Trustees Icontinuedl for the year ended 5th April 2025 Supporting Young Researchers and FO$ters-The Patsy Wood Scholarship Programme The legacy grant thal we received from the Palsy Wood Trust in 2017 has enabled u5 to support several early career foresters and researchers and 15 proving very su¢¢essful. There is a chroni¢ shortage within the sector of Skilled young people. and particularly a lack of understanding of forest genetic resources and the role these play in helping lo deliver resilient, productive and healthy woodlands. This yearfs scholai is Sam Carroll who is working with the Future Trees Trust with an additional placement with English Woodlands. Our current PhD sludenl. Eamonn Copper, is investigating genetic diversity within British and Irish oak populations. Future Plans Building on the success of the last few years, we have exciting plans for the future which include.. Raising funds to develop the Granary barn lin partnership with the National Trusll lo provide an educational centre that will showcase the work of Future Trees Trust and the importance of forestry and the broader Woodland Sector. Recruit additional Trusleesto ensure we have the skills required to help the organisalion increase ils impact over the next few years. Recruit a Senior Researcher lo ensure we have the capacity lo cairy out all the projects identified in our 10 year strategy. Work with partners lo deliver research projects that have a lasting impact on the sector. Identify new partnerships that will help us achievè our ambitious future goals. Reserves pollcy The trustees deem that reserves should be sufficient to allow the charity lo continue ils work for as long as possible in the event that income should diminish, especially in a period of economic uncertainty. Given the current economic climate, and the long term nature of our worf(. the Iruslees believe il is prudent lo rnainlain a financial reserve of al least tyvelve months, core operatin9 ¢osls as a contingency against unexpected circumstances, with Six months of these costs held in a designated fund. As al 5th April 2025, free reserves lotaled £96,77012024'. £1[,825). and the Iruslees are conlenl that this is broadly in line with the above target. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Charity is consliluled as a Charitable Incorporated Organi5alion ICIOI, registed on the 6th February 2023. The Trustees are legally responsible for the govemance and management of the Charity, and responsible for the selling of slralegie5 and policies for ensuring that these are implemented. Related parties There are no related parb'es. Risk management The charity's ttuslees have considered the major risks lo which the charity 18 exposed and have systems and procedures in place lo manage the significant risks and lo miligale any adverse oul¢omes.
Future Trees Trust Clo Report of the Tru$tee$ l¢ontinuedl for the year ended 5th April 2025 REFERENCE AhlD ADMINISTFATIVE DETAILS Charlty R¢gistration Number- 1201851 CIO Number= CE031330 TrusteÈs C Calahan R Coppock J Hubert (resigned 215.. Jènuary 20251 J L&VJh-Pembert (Chairl A Sn¢Mden A Stafford Principal Offic• Unit 3 The Sheepyard Home Farm Goleshill SN6 7PT Ind&pendent Examlner 8 Hayes FCA Wenn Townsend 30 Sl Gile$ Oxford OX1 3LE Bankors Barclays Bank PLC Lelcesier LE87 2BB Aprxovad by order of the board of Irust88$ On . . 2025 and signed on its behalf by.. h-Pemberton rust
Independent Examiners. Report to the Trustees of Future Trees Trust CIO I report lo the charity Iruslees on ry examination of the accounts of Future Trees Trust Ithe Trust) for the year ended 5th April 2025. Responsibilities and basis of report As the charity Iruslees of the Trust you are responsible for the PparatIOn of the accounts in accordance with the requirements of the Charities Ad 2002 {Yhe Act'l. I report in respect of my examination ofthe Trust's accounts carried out under section 145 oflheAct and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent examlner's statement Since your charity's gross income exceeded £250,000 your examiner musl be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a registered member of the ICAEW which is one of the listed bodies. I have completed by examination. I confim that no material matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect". aOUntIng records were not kept in respect of the Trust as required by section 130 of the Ad.. or the accounts do not accord with those re¢ords', or the accounts do not Comply wilh the applicable requirements conceming the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair viewwhich is not a maller 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 lo be reached. s Bsc FCA Wenn Townsend Chartered Accountants Oxford 2025
Future Tree5 Trust CIO ststement of Financial Activities for the year ended 5th Aprll 2025 2025 Total Funds 2024 Totsl Funds Unrestrlcted Funds Restrlcted Funds Notes Income and Endowments from Donations, grants and legacies Investment income 169.708 302 355,507 525,215 302 535,779 4,738 Total 170,010 355.507 525,517 540,517 Expendlture on Raising funds 86.195 86,195 63,372 Charitable a¢tivitie5 Scientific research and testing 82,401 341,425 423.826 438,886 Total 168,596 341,425 510,021 502,258 Net incomellexpenditurel 1.414 14.082 15.496 38.259 Transfers between funds 4,756 14.7561 Ngt movement in fund$ 6,170 9,326 15,496 38.259 Reconciliation of funds Totsl funds broughtfotward 235,375 258,146 493,521 455,262 Total funds carried fornard 241,545 267.472 509,017 493.521
Future Trees Trust cio Balance Sheet As at 5th April 2025 2025 Totsl Funds 2Q24 Total Funds Unrestrlctsd Funds Rèstricted Funds Notes Flxed Assets Tangible assets 10 775 T75 1,550 Current Asset5 D&blors- funding recoverable Cèsh ai bank 2,000 246.644 61,656 234.772 63.656 481.416 33,660 493.230 248,644 296,428 545.072 526,890 Creditors Arnounls falling du8 within one ygar 11 17,8741 128,9561 136.8301 134,9191 Net Current Ass&t$ 240,770 267.472 508.242 491.971 Total Assets less Current Liabilities 241.545 267.472 9,Q17 493,521 Net Assets 241.$4S 267.472 509,017 493.521 Funds Unrestricted fiJnds- General fund Designated fund 12 97,545 144.000 108,375 127,000 241.545 235.375 Restricted funds 267,472 258,146 Total Funds 509.01T 493.521 The financial 5tatemenls were approved by the Board of Trustees aNI aulhorised fof issue and were signed on its behalf by.. 2025 h*emberton u$t -10-
Future Trees Trust CIO Statement of Cash Flows for the year ending 5th April 2025 2025 2024 Rèconciliation of net movement in funds to net cash flowfrom operating activities Nel movement in funds Depreciation charge Investment income Ilncreaselldecrease in debtors IDe¢reasellincrease in creditors 15,496 775 13021 129,9961 1,911 38,259 775 14.7381 16,7311 31,554 Net cash flow from operating activities {12.1161 59,119 Cash flow from operatlng activities 112,1161 59,199 Cash flows from investing actlvltles Interest income 302 4,738 Purchase of tangible fixed assets 12,3251 Cash used in investing activities 302 2,413 Increase in cash and cash equivalents in the year 111,8141 61.532 Cash and cash equivalents at the beginning of the year 493.230 431,698 Total cash and cash equivalents at the end of the year 481.416 493,230 -11-
Future Trees Trust CIO Notes to the Financial Statements for the year ended 5th Aprll 2025 Accounting policies Basis of prèparing the financial statement5 Future Trees Trust CIO is a Charitable Incorporated Organisalion ICIOI in England I Wales. The address of the registered office is given in the charity information on page 5 of these financial slalements. The nature of the charit$ operation5 and principal adivilies are detailed in the Trustees Report. The CIO acquired the nel assets of the unincorporated Future Trees Trust (registered charity 1103202} on 6th April 2024, and this has been accounted for using merger accounting as required by the FRS 102 SORP in order lo present a true and fail view. Under merger accounting the comparative fi'gures in these accounts represent the results and financial position ol the unincorporated charity Ithere was no activity in the CIO befoie then), As al the transfer dale the old unincorporated charity reported.. £'ooo 540 15021 Total income Total expenditure Nel movement in funds 38 Nel assets Represented by.. Unrestricted funds Restricted funds 236 258 Total funds 494 The charity conslilutes a public benefit entity as defined by FRS 102. The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. stement of Recommended Pra¢li¢e applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable In the United Kingdom and Republic of Ireland (FRS 1021. the Charities Act 2011, and UK Generally Accepted Accounting Pra¢lice. The financial slalemenls are prepared on a going concern basis under the historical cost convention. modified lo include certain items al fair value. The financial slalemenls are presented in sterling which is the fLJnclional currency of the Charity. The significant accounting policies applied in the preparation of these financial slalemenls are sel out below. These policies have been consislenlly applied tts all years presented unless otherwise staled. -12-
Future Trees Trust CIO Notes to the Financial Statements lor the year ended 5th April 2025 Income recognltlon All incoming resources are included in the Slalemenl of Financial Activities {SoFAI when the charity is legally enlilled lo the income after any performance conditions have been mel, the amount can be meaSUd reliably and il is probable that the income will be received. For donations lo be recognised the charity will have been notified of the amounts and the settlement date in writing. 11 there are conditions allached lo the donation and this requires a level of performance befo enlillemenl can be obtained then income is deferred until those conditions a fully mel or the fulfilmgnl ol those conditions is within the ¢onlrol of the charity and il is probable that they will be fulfilled. Donated facilitie5 and donated professional services are recD9nised in income at their fair value when thei economic benefit is probable. il ean be measLJred reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A Ctsrresponding amount is recognised in expenditure. No amoljnl is included in the financia5 slalemenls for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Investment inc¢)me is earned through holding cash deposit balances, and includes interest received. Interest income is recognised using the effective interest method. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity to that expenditure, it is probable that a transfer of economic benefi'ts will be required in selllemenl and Ihe amount of the obligation can be measured reliably. Expendilvre is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed lo particular headings they have been allocated lo activities on a basis consislenl with the use of resources. Grants offered subject to conditions which have not been mel al the year end dale are noted as a commitment bul not arUed as expenditure. Tangible fixed assets Tangible fixed assets are slated al cost lor deemed costl or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable lo making the asset capable of operating as inlended. Depreciation is providecl on all tangible fixed assets. al rates calculated to write off the Cost. less estimated residual value. of each asset on a 5yStemalic basis over rts expected useful life as follows.. Computer equipment- 33Yo on cost Taxation The charity is an exempt charity within the meaning of s¢hedule 3 of the Charities Ad 2011 and is considered lo pass the lesls set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. -13-
Future Trees Trusl CIO Notes to thè Financial Statèments Icontinugdl for the year ended 5th April 2025 Accounting policie5 Icontinugdl Fund accounting Unreslri¢led funds are available for use at the discretion of the Iruslees in furtherartce of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use ol each designated fund is sel out in the notes to the financial slalemenls. Reslricled fund5 are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fLJnd. Thè aim and use of each reslricled fund 15 sel out in the notes to the financial statements Hire purchase and leasing commitments Renta15 paid under operating leases are charged to the Slalement of Financial Activities on a slraighl line basis over the period of the lease. Debtors and ¢redltors receivable I payable within one year Debtors and creditors with no slated intere51 rate and receivable or payable within one year are recorded al transaction price. Any losses arising from impairment are recognised in expenditure, Employee benefits When employees have rendered setvi¢e lo the charity, short-lerm employee benefits to which the employees are entitled are recognised at the undiscounted anK)unl expected lo be paid in exchange for that service. The charity operates 8 defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. Going concern The financial slalemenls have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level of income and expenditure for 12 months from aulhorising these financial slalemenls_ The budgeted income and expenditure is sufficient Mth the level of serveS for the charity to be able lo continue as a going Concern. -14-
Future Trees Trust CIO Notes to the Financial Statements Icontinuedl for the year ended 5th April 2025 Donationsp grants and legacies 2025 2024 ALA Green Charitable Trust Alfred Williarns Charitable Trust Brian D Newman Foundation Britford Bridge Trust Calisen Impact Charitable Trust Chapman Charitable Trust DCR Allen Charitable Trust DEFRA Dr PR Morrison DS Smith Trust Duke of Devonshire Dulverton Trust Earl Fitzgerald Charitable Trust Earth Trust Edward Cadbury Grant Emerton Christie Esme Mitchell Trust Evolving Forests FC England FC England- Beech FC England- SSBL Finnis Scott Foundation Frazier Trust Gresham House HDH Wills 1965 Trust Hugh Fraser Hugh Symonds lan Addison Charitable Trust John Coales Charitable Trust John Swire Charitable Trust Langdale Trust Leslie Carter Charitable Trust- Lord Belslead Charitable Selllement Lord Faringdon Charitable Trust Maelor Forest Martin Wills Fund Miriamog Trust Nollingham University Pilkin9lDn Charitable Trust Provincial Grand Charity of Derbyshire Pye Settlement Ralclifl Foundation Richard Radcliffe Charitable Trust Rither Sounds Foundation Rolhermere Foundation Sandra Charitable Trust Scollish Forestry Scottish Forestry Trust Shanley Foundation Stanley Grundy Foundation 15.000 3,000 2,500 8,590 15,000 12,250 3,000 8,000 135,542 5,000 9.750 5,000 123,324 30,OQO 2.500 1.975 5,000 2,000 2,000 1,500 80.819 3,000 170,261 18,455 12,117 4,000 2,000 10,000 30.000 2,000 2,000 2.000 2.000 2.000 5,000 10,000 8,000 3.000 2,000 1.500 4,679 1,500 25,000 1,500 2.535 3.000 2,500 3,000 2,000 2.000 3.000 2,000 2,000 2,000 5,000 3,000 33,000 35,300 2,500 5,000 6,000 2,500 2,500 -15-
Future Trees Trust CIO Notes lo the Flnancial Statemènts (continued} for the year ended 5th April 2025 Donationsi grants and legacies {continuedl Tay Charitable Trust The Barber Charvet BCT The Cobb Charity The Ormonde Charitable Trust The Rockley Charity The Snyder Foundation Tilhill Forestry Trees Please Limited Trees Scott Gredine Vaslern Timber Whitaker Charitable Trust Woodland Heritage Xylem Global Sundry other donalions1£1.000 and underl 2,000 10.000 1.500 2,000 2,500 2.000 2,000 10,000 1,500 2,500 2,000 2,000 4,000 10.000 5,000 10,000 4.000 2,000 2,000 48,875 22.522 525.215 535,779 -16-
Future Trees Trust cio Notes to the Flnancial Ststements Icontinuedl for the year ended 5th April 2025 Investment Income 2025 2024 Deposit account interest 302 4,738 Charltable activities costs Expenditure on charitable activities comprised 2025 2024 Scientific research and lesling Support costs Inole 51 Depreciation of eompuler equipment 328,376 94,675 775 372,605 65,508 775 423,826 438,886 Expenditure on scientific research lesling comprised.. 2025 Unrestricted 2025 Restricted 2025 Total 2024 Total Birch Group Cherry Group Oak Group Sycamore Group Living Ash Project NTIS Pv1 Legacy Sustainable Seed Source Project Supersizing Broadleaves Other projec15 8,893 28.148 28,006 2.179 92,530 3,830 131,391 19.300 7,361 8.738 6,893 28,148 28,006 2.179 92,530 3,830 131.391 19,300 7,361 8.738 10,941 9,285 41,335 4,943 86,279 6.402 38,818 65,228 85,689 23,685 328,376 328.376 372,605 -17-
Future Trees Trust CIO Notes to the Finan¢lal Statements Icontinuedl for the year ended 5th April 2025 Support costs Charltable Activities Total 2025 Total 2024 Fundralslng Support costs comprise the below items. and were allocated on a us2geltime basis.. Consultancy costs Salary costs Office rent Other support cost5 Governance costs Isee note 6} 56,309 6,685 728 17,498 4,975 11,314 60,160 728 17.498 4,975 67,623 66,845 1.456 34,996 9,950 103,222 8.393 10,306 6,957 86,195 94,675 180,870 128,878 Governance costs 2025 2024 Meeting expenses Accountancy and legal fees 3,488 6,482 2,249 4,708 9.950 6.957 Trustees, and key management personnel remuneration and expensas There werg no Iruslees, remuneration or other benefits for the year ended 5th April 2025 nor for the year ended 5th April 2024. Trustees, expenses During the year ended 5th April 2025 travel expenses of £1.082 were paid lo four of the Irustees12024'. one paid £2221. The total amount of employee benefits received by key management personnel is £122,23012024'. £52.8231. The Trust consiclers ils key management personnel comprise the CEO and Head of Research. -18-
Future Trees Trust CIO Notes to the Financial Statements Icontinuedl for the year ended 5th April 2025 Staff costs 2025 2024 Wages and salaries Social security costs Other pension costs 173,605 12.729 8,618 107,955 10,512 5,723 194,952 124,190 No employee received emoluments in excess of £60.00Q. The average number ol employees during the year was 612024.. 4). Full-lime equivalent numbers of staff were as follows.. 2025 2024 CEO Head of Research Researcher Research Technician Patsy Wood SGholar Adminislralor 0.12 Independent examlner's remuneration The independent examiner's remuneration amounts to an independent examination and accounts preparation fee of £2.25012024". £2,040). 10. Tangible fixed asset5 Computer Equipment Cost Al 6th April 2024 Additions 4.319 Al 5th April 2025 4,319 Depreclation Al 6th April 2024 Charge for year 2,769 775 At 5th April 2025 3.544 Net book value Al 5th April 2025 775 At 5th April 2024 1.550 Credltors: amounts falling due within one year 2025 2024 Other creditors 36,830 34,919 -19-
Future Trees Trust CIO Notes to the Financial Statements Icontinuedl for the year ended 5th Aprll 2025 12. Movement in funds Transfers between funds Al 6.4.24 Net income At 5.4.25 Unrestricted funds General fund Designated fund 108,375 127,000 1,414 4,756 114,545 127,000 235.375 1,414 241,545 Restricted funds Birch Group fund Cherry Group fund Chestnut Group fund Craven Field fund Oak Group fund Living Ash Project NTIS Palsy Wood Trust Legacy Sycamore Group fund Sustainable Seed Source fund Supersizing Broadleaves fund Outreach and Comms fund Other restrided fvnds 7.147 15,8691 3,593 1,278 3,593 3.766 11.244 21,823 19,394 6,177 186,355 6,653 7,259 109 3,766 11,244 13,7731 114.0251 170 14,610 1,596 7,OQ8 25,598 33,419 6,007 171,745 5,057 253 109 4,756 291 14,7561 14701 {1791 258,146 14,082 14,7561 267,472 Total funds 493,521 15,496 509,017 Nel income. included in the above are as follows-. Incoming resources Resources expended Movement In funds Unrestrlcted funds General fund Restricted funds Birch Group fund Cherry Group fund Craven Field fund Oak Group ftjnd Living Ash Project NTIS Patsy Wood Trust Legacy Sycamore Group fund Sustainable Seed Source fund Supersizing Broadleaves fund Other restricted funds 170,010 1168.5961 1,414 5,400 43,219 20,400 32,548 123,819 5,000 27.750 10.000 68,939 13,(M5 5,387 {11.2691 (39.6261 {9.1561 136,3211 1137,8441 14,8301 {13.1401 {8,4041 161,9331 113,0451 15.857} 15.8691 3,593 11.244 13,7731 114,0251 170 14,610 1.596 7.006 14701 Total funds 525,517 1510.0211 15,496 -20-
Future Trees Trust CIO Notes to the Financlal Statements Icontinuedl for the year ended 5th April 2025 12. Movement in funds {continued) Comparatives for movement in funds Transfers Net income At 6.4.23 between funds At 5.4.24 Unrestricted funds General fund Designated fund 76.899 127,000 31,476 108,375 127,000 203.899 31,476 235,375 Restricted funds Birch Group fund Oak Group ftjnd Living Ash Project NTIS Palsy Wood Trust Legacy Sycamore Group fund Sustainable Seed Source fund Supersizing Broadleaves fund Outreach and Comms fund Other reslricled funds 7,498 16,256 8,303 4,409 210,063 13511 9.340 25,116 1.598 138,3181 5,057 253 109 4.756 17771 7,147 25,596 33,419 8,007 171,745 5,057 253 109 4,756 4.057 4.834 251,363 6,783 258,146 Total fund$ 455,262 38,259 493,521 Nel income, included in the abovè are as follows.. Incoming resources Resources expended Movem&nt in funds Unrestricted funds General fund Restricted funds Birch Group fund Oak Group fund Living Ash Project NTIS Palsy Wood Trust Legacy Sycamore Group fund Sustainable Seed Source fund Supersizing Broadleaves fund Outreach and Comms fund Other re51ricled funds 181,259 1129,7831 31.476 10,590 50.675 111.395 8,000 500 10,000 65.481 85.798 25,000 11,819 110,9411 141,3351 186,279} 16,4021 {38.8181 14,9431 165,2281 185,6891 120,244} 112.5961 13511 9,340 25,116 1.598 138.3181 5,057 253 109 4,756 1777} Total funds 540,517 1502.2581 38,259 -21-
Future Trees Trust CIO Notes to the Financial Statement5 Icontinuedl for the yèar ended 5th April 2025 12. Movement in funds Icontlnuedl Unrestricted funds Our accounts indicate nel unreslricled assets 01 £241,545. This sum reflects the unrestricted donation5 ieceived throughout the year in addition lo opening funds. As no specific reslriclion was applied by each donor. the total amount of each donation has to be reported in our accounts as unreslricled income. Our reserves policy, as slated on page 3 of the accounts, is lo holcs a design*ed reserve of six months of operating eos15. with a further six months covered by free reserves. Accordingly, although our accounts show unreslricled assets of £241.545, this iludeS the sum we have designated to support halfof our operating costs for 2025126- £84,000 based on the 2025126 budget. Of the remaining £157.545. a further £60.000 has ien designated for expected fuiure research infraslru¢lure costs. Restrlcted funds In 2017, Future Tree5 Trust were awarded a legacy grant from the Palsy Wood Trust lo enable us to employ our first research staff. Al that lime, funding was for a Head of Research and research assistant for five years. In addition lo this, il included funds to support two doctoral students and five apprenticeships. The Head of Research started work in 2018, and the Researcher in 2019. To dale, we have supported two PhD Students, and four apprenli¢eships. We conlinue lo raise funds lo support these positions through specific project work, and this therefore allows this restricted fundin9 to extend further. £186.355 of our £267.472 restricted funding remains in the Palsy Wood Trust fLJnd and continues lo support these positions. The remaining £81,117 sits across our main project work for our core species. Material fund movemènts and balances are detailed above. 13. Related party disclosures During the year ended 5th April 2025 there were no transactions wlh related parties {2024'. None). -22-
Future Trees Trust CIO Notes to the Financial Statements l¢ontinuedl for the year ondgd 5th April 202S 14. Comparative Statement of financial activities 2024 Total Funds Unrestricted Funds Restricted Funds lllcome and Endowments from Donations, grants and legacies Investment income 156,521 4,738 379.258 535,779 4,738 Total 161.259 379.258 540,517 Expenditure on Raising funds 63.372 63,372 Charltable activities Scientific research and lesling Public education and lobbying to further charitable objectives 66,411 372.475 438.886 Total 129.783 372.475 502,258 Net Incomellexpenditurel 31.476 6.783 38,259 Transfers between funds Net movement in funds 31.476 6,783 38.259 Reconciliation of funds Total funds brought forward 203,899 251,363 455,262 Total funds carried fotward 235,375 258,146 493,521 -23-
Future Trees Trust CIO Notes lo the Financial Statements Icontinuedl for the year ended 5th Aprll 2024 15. Comparative balance sheet 2024 Total Funds UnrestrS¢ted Funds Restricted Funds Fixed Assets Tangible assets 1.550 7,550 CurrentAssets Debtors- funding recoverable Cash at bank 33,660 259.405 33.660 493.230 233,825 233,825 293,065 526,890 Creditors Amounts falling due within one year {34.9191 134.9191 Net CurrentAssets 233,825 258,146 491,971 Total Assets less Current Liabilitles 235,375 258,146 493.521 Net Assets 235.375 258,146 493,521 Funds Unreslricled funds.. General fund Designated fund 108,375 127,000 235,375 Restricted funds 258,146 Total Funds 493,521 -24-
Future Trees Trust CIO Detailed Ststement of Financlal Activities for the year ended 5th April 202$ 2025 2024 Income and endowments Donations and legacies Donations 525.215 535.779 Investment income Deposit account interest 302 4,738 Total incomlng resources 525.517 540,517 Expenditure Charitable activities Computer equipwenl depreciation Scientific research and testing 775 328.376 775 372,605 329,151 373,380 Support costs Core salaries Consultancy fees Fundraising fees Motor expenses Office rent Travelling and subsistence Website expenses Staff training Telephone Postage and slalionery Miscellaneous expenses and subscriptions Insurance Bank charges 66,845 11.314 56,309 4,710 1.456 1.049 17.807 1,920 900 6,093 1.533 902 82 70,236 32,986 2,114 8,393 954 1.065 1,161 1,fl95 1.848 737 1.243 89 170.920 121,921 Governance costs Meoling expenses Accountancy and legal fees 3.468 6.482 2,249 4,708 9,950 6,957 Total resources expended 510,021 502,258 Net incomellexpenditurel 15,496 38,259 This page dtxs not form part of Ihe statutory fInarla1 statements -25-