DORSET WILDLIFE TRUST {A Comparjy Limited by Guarantee and not having any share capitsll REPORT AND FINANCIAI STATEMENTS YEAR ENDED 31 MARCH 2025 CDrnpany Number: 00688439 Charity Number: 200222
DORSET WILDLIFE TRUST Financial Statements for the year ended 31 March 2025 CONTENTS Page Reference and Administrative Details Chair's Report Report of the Dirertors lincluding the Strategic Report) 5-19 Independent Auditor's Report 20-24 Consolidated Statement of Firbancial Attivitles 25 Consolidated Summary Income and £xpenditure Account 26 Consolidated and Charity Balance Sheets 27 Consolidated and Charity Cash Flow Statements 28 Note5 to the Financial Statements 29-57
DORSET WILDLIFE TRUST Financial statement5 for the year ended 31 March 2025 Reference and adminlstrative details The registered name of the Charity is Dorset Wildlife Trust. It is registered with the Charity Commission in England and Wales with the number 200222. Dorset Wildlife Trust is registered at Companies House with the number 00688439. Registered office 8rooklands Farm, Forston, Dorche5ter, Dorset. DT2 7AA. Members of the Board The charitable companls Board, known a5 the Council is made up of the Company Director5 who are also Trustees of the charity. The Trustees of the charity who have held office in the year ended 31 March 2024 and to date are.. M G Kibblewhite PhD, MBA. FRSC, FIAgrE J Davies MBE J White M8E, Bst l Alexander Bsc (Honsl. DMS, CEnv R Cole BA JDGaye S Goldsack L Henley-Lock 8Sc IHoThsl R Hulf CEng, FCA A Littler BSC. CEng, MIQ G Ninnim FCA G Pugh Bsc (Econl, FCA l Reynolds BA, MA L Sherlock MA (Honsl P Sterling FCIEEM, FRES J Stobart Bsc (Honsl, MSC A V Wheatcroft 8A, MSC Ichair of Council) Ivice Chairl Ivice Choir) (Resigned 2 December 2024} IAppointed 2 December 20241 IAppointed 2 Oecember 20241 IResigned 19 June 20241 IResigne(12 December 20241 (Appointed 2 December 20241 Dorset Wildlife Trust is the sole trustee of the Helen Brotherton Trust, a permanent endowrnent fund, established a5 a separate leBal entily in June 2019 and a linked-charity (Charity Commission registration umber 200222-11. Dorset Wildlife Trust has three wholly owned subsidiaries: DWT Services Ltd (Company reElStration number 02293763F company directors who have held office in the yearended 31 March 2024.. B Bleese BSC. FRGS J Davies MBE S E Patterson G Pugh BSC (Econl, FCA A V Wheatcroft BA. MSC
DORSET WILDLIFE TRUST Financial statements for the year ended 31 March 2025 Reference and administrative detalls contlnued Dorset Ecology Limited Icompany registration number 080980971- company directors who have held office in the year ended 31 March 2025: J Davies MBE JDGaye S E Patterson N R Webb BSC, PhD, DSC, C Biol FSB (Resigned 2 December 2024} (Resigned 5 August 20241 The National Wildlrfe Garden Limited (Company registration number 109487991- company directors who have held office during the year ended 31 Marth 2025- B Bleese J Davies MBE J Gaye M Kibblewhite PhD. MBA, FRSC, FIAgrE S E Patterson J White MBE, BSC (Resigned 2 December 20241 President, Wice Presidents and Patrons Dr G McGavin L Bunce L Haskins J McDavid J Powne P Scupholme P We5tgate J Westgate Sir J Eliot Gardiner S Fine King (President) (Vice President) (Vice President) (Vice President) (Vice President) (Vice President) (Vice President) (Vice President) IPatronl IPatronl Chief Executive and senior managemenl team B Bleese BSC, FRG5 l Davenport BS S E Patterson A Pollard BSC, MSC S Thompson Chief Executive (Direttor of Nature Based Solutions) (Director of Finance and Resourcesl (Director of Nature Recovery Networks) (Dirertor of Marketing & Fundraisingl
DORSET WILDLIFE TRUST Financial statements lor the year ended 31 March 2025 Reference and adminlstrative detsils continued Company Secretary S E Patterson Bankers. NÈtWÈst Group, Ground Floor. Link House, 25 West Street, Poole. BH21 IPE Soli¢Stors Battens, Maltravers House, Petters Way. Yeovil, Somerset, BA20 ISH Stone King LLP, Upper Borough Court, Upper Borough Walls, Bath 8A1 IRG Investment Advisors TrinityBridge (formerly Close Brothers Asset Management), 10 Crown Place, London EC2A 4FT CCLA Investment Management, l Angel Lane, London EC4R 3AB Auditors Moore (South) LLP, 33 The Clarendon Centre, Salisbury Busine55 Park, Dairy Meadow Lane, Salisbury, Wiltshire SPI 2TJ VAT Advisor Alison Hone Limited, 39 Sea Serpent Road, 8racklesham. West Sussex P020 8GA
DORSET WILDLIFE TRUST Chair's Report For the year ended 31 March 2025 Our m05t important stakeholders are the more than 27.000 members of the Trust, including the more than 470 volvnteers who do valuable practical work to support our programmes. Successful efforts have been made to 5UStain memberships during the cost-of-living crisis and to reach into communities that are under- represented, such as younger urban citizens. A key thWaY is the dlgital one. Our virtual events attract large audiences, and we support lively and extensive social media engagement. Investment in this pathway aims to create a large digitally connected community with awareness and Ljnderstanding of Dorset's natural treasures and how these underpin the local economy* and what tan be done to conserve and enhance them. And these initiatives can support a progressive shift towards a more 'bottom-up' approach. in which the Trust prioritises listening to, and respondlng effectively, to the concerns and aspirations of the whole community. All our reserves are open access to the public without entrance char8es and are widely used for amenity, alongside their con5eivation role. A major development was the opening of the Stunning Fine FoL&ndation Lookout on Brownsea 151and, in partnership with the National Trust and Lottery funding. This adds to the existing status of the island as an iconic destination and provides visitors with an immersive and memorable nature experience. Meanwhile, our centre5 at Chesil, Kimmeridge and Kingcombe are being enhanced and promoted strongly. with activities for young and old. We intend to keep fotused on making our reserves better known and to increase visits to them as part of engaging and informing as wider community as possible. Our core task is conservation, and we are constantly seeking Opportunities for increasin8 both its Scale and effectiveness. This relies especially on the generosity of individuals arsd organisations. They have made possible. for example, the purchase of land at Lyscombe and Brackett5 Coppice, and the construction of the Fine Foundation Lookout. And the many generous responses to specific appeals and annual donations from members, all underpin aur conservation work. In parallel, our grant income has grown, including for species recovery, peat restoration and to support our facilitation of conseNation in the farmed landscape. Excessive nutrient inputs to the Poole Harbour catchment are badly degrading this natural system. Policy measures to reduce nutrient inputs include a levy on new residential developments to create a fund for actions to offset additional nutrient input5. It is our belief that these actions should both reduce nutrient irnputs and lead to enhanced biodiversity. This is why we have accepted public funds from the administering authorities to purchase and manage land to deliver nutrient neutrality. This 15 allowing us to acquire large areas for nature recovery that will deliver lasting benefits to nature and the local economy. The expertise and sustained hard work of staff, volunteers and trustee5 15 the foundation of our continuing success as an organisation. The trustees have recently reviewed aspects of their governance, continue to recruit new trustees to refresh the Council, and working with the Chief Executive, we seek to maintain effectiveness within a positive culture that supports Staff, who are often under considerable pressure. The result Is Increaslng Impact for nature with financial sustainability. Mlgiuu Mark Kibblewhite Chair- Dorset Wildlife Trust I September 2025
DORSET WILDLIFE TRUST Report of the Directors (including the Strategic Report} For the year ended 31 March 2025 The Board have pleasure in presenting their report together with the audited accounts tor the year ended 31, March 2025. The Board have adopted the provisions of the charities SORP IFRS 102) - Accounting and Reporting by Charities.. Statement of Recommended practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland leffective I January 20191 in preparingthe annual report and financial statements of the charity. The accoLJnts have been prepared in accordance with the Companies Act 2006. Objectives and activities Dorset Wildlife Trust is required by charity and company law to act only within the objects of its Articles of Association which are as follows.. For the public benefit: 111 To promote for the benefit of the public the conservation protection and improvement of the physical and natural environment both on land and sea. in particular but not exclusively in Dorset by: estsblishing and maintalning nature reseNes, wildlife habitats and natural spaces- surveying, recording, researching and studying the natural environment- and engaging people with their envirorbment through events. centres. volunteering and/or other means. 1111 To advance the education of the public in and inform them about the conservation, protection and improvement of the physical and natural environment, and the natural Sciencès both on land and sea in particular but not exclusively in Dorset bv= providing walk, tslk5, events, meetings, digital and other means of communications; and advocating good practice and promoting environmentally sustainable lifestyles and working. Dorset Wildlife Trust IDWTI aims to safeguard Dorset's wildlife areas for the future,.and actively encourages sympathetic management of the cotsntryside and coast as a whole. Over 4.970 acres of land are owned or leased by DWT a5 nature reserves. Support comes from the D,5 membership, as at 31 March 2025 26,928 12024: 27.3951 individuals or 14,77012024.. 14,9371 households and a network of over 470 active volunteers during the year, as well as a number of sUPPOrtive corporate members and sponsors. We play a leading role. in partnership with other organisations. to conserve and enhance Dorseys wildlife and wild places. focussing on-. delivering advancements in conservation through our network of t)ature reserves and wildlife sites, to help protect threatened wildlife habitats and species,. and engaging people and communities by working with landowners, farmers, local authorities. businesses and young people. and influencing the behaviour of all sectors of society.
DORSET WILDLIFE TRUST Report of the Directors (including the Stratezic Report} For the year ended 31 March 2025 (continued) Public benefit statement The Trustees CDnfirm that they have complied with the duty in sertion 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit,. The Trusvs public benefit is enshrined in it5 charitable objects as outlined above. We have referred to the guidance contained in the Charity Commission's general guidance on publi¢ benefit when reviewing our aims and objectives and in planning our future activities. The advancement of environmental protection and improvement is recognised 35 3 charitable purpose and 15 regarded universally 25 producing a public good. The Dorset Wildlife Trust exists to promote the care and protection of the environment and therefore provides a clear public benefit. The Wildlife Trusts, ITWTI philosophy is based on the belief that the natural world deserves conserving for its own sake and, since this is widely perceived to be a worthy aim of public policy, it may fairly be regarded as a benefit to the public at Large. However, the public benefits provided by the Dorset Wildlife Trust go much further. Firstly, our nature reserves are used by the public, and many have access on way-marked routes. At many sites information and interpretation 15 provided to visitor5. There are a few cases where there may be a conflitt between management requirements and unfettered access, but where this occurs we strive to keep any restrittions to a minimum. Secondlyi our education programmes are aimed at schools, colleges, adult groups and the wlder public. Education is recognised as a charitable activity in its own right. Thirdlyi our information gathering and provision of expert advice and opinion to local authorities and others elps to ensure that planning decision5 are made on a rational basis taking full account of the public benefit of wildlife. Fourthly, we can exert influence through our substantial membership at local level, and nationally through our membership of the Royal Society of Wildlife Trusts. It Is also our belief that the involvement of manv volunteers in our work provides an outlet for altruistic endeavour which is of special benefitto those involved as well as delivering benefits to the wider public. Promoting the enjoyment of the natL4ral world is an important part of what we do: tontart with the natural world and the appreciation of wildlife and wild places provides great pleasure to many people and contributes towards wellbeing and health. Our nature reserves and activities are available to all and we try to make special provision for the disabled and disadvantaged wherever possible.
DORSET WILDLIFE TRUST Report ol the Directors (including the Strategic Report) For the year ended 31 March 2025 (contlnued) Strategic report Deli¥erlng Charltable Objects and Publlc Benefit Dorset Wildlife Trust is dedicated to safeguarding Dorset's wildlife and wild spaces, fostering deeper public engagement with nature, and supporting climate resilience through evidence-based conservation and education. In 2024-2025, all activities contributed to these aim5 and delivered clear public benefit in line with Charity Commission guidance. Overvlew of Actlvltles and Achievements Conservation Dellvery This year saw substantial progress in landsc3pe-scale Conseation. Through the Dorset Peat Partnership, Dorset Wildlife Trust led restoration efforts over 163 hectares on 15 sites. building 199 dam5, infilling 6,920 metre5 Qf drainage ditches. and reducing water loss and tarbon emissions acr055 Vltal peatland ecosystems. The Speties Recovery Project achieved population or range Increases In all ten focus species, with significant successes including breeding population5 of great crested newts, marsh fritillaries returning to Powerstock Common. and thrivin8 colonies of heath tiger beetles and lesser horseshoe bat5. Land acquisitions enhanced our reserve netrk. notably at Tadnoll & Winfrith and Bracketys Coppice. These included a gift of buildings and land worth £175,000 with commercial lettSng potential. Lyscombe Nature Reserve saw the installation of grazing infrastructure and planning approvals for the removal of redundant farm building5 and agricultural engineering, enabling river re-naturalisation. Marine conservation progressed through innovative use of photogrammetry in Marine Protected Areas, informing management decisions and highlighting anthiopogenic pressures on fragile seabed habitats. Dorset Wildlife Trusys Wilder Landstapes te3m sUPPOrted nature recovery progress on nearly 25,000 hectare5 of land across Dorset through Landscape Recovery projerts and farm cluster facilitation. Engaging People with Nature Community engagement remains central to our mi55ion. with over 105 events and 23 member walks drawing nearly 2,000 people to our reserves and centres. Flagship programmes like Health and Nature Dorset (HANOI, Nextdoor Nature. and the South Western Rail partnership have broadened our reach Into underrepresented communities, schools, and special groups. Notably. our marsh fiitillary Farming in Protected Landscapes IFIPLI projett has trained volunteers and worked with landowners to improve over 160 hectares of butterfly habitat. A new volunteering strategy will be launched in Autumn 2025 to engage local communities in nature reseNe stewardshlp roles. Online, we saw 480,[0 website sessions and strong growth across social media plarforms, supported by new Digital Development Manager. Our digital transformation will include optimised supporterjourneys, new income channels. and improved campaign performance. Financial Performance and Organisational Resilienie Dorset Wildlife Trust finished the year with a £1.223,Th)O unrestricted surplus a significant turnaround from the budgeted £670,000 deficit. This wa5 achieved through prudent cost management and substantial legacy income of £1.603.000, with a further E500.000 in legacy pipeline. Membership income exceeded targets despite recruwtment challenges. Retention remained high. and performance at South West Wildlife Fundraising Limited has been under formal review and is now showing
DORSET WILDLIFE TRUST Report of the Directors lincluding the Strategic Report) For the year ended 31 March 2025 (continued) improved performance following the appointment of a new area manager. New busine55 development and individual giving initiatives are also progressing well. Strategic st3ffing developments included the appointment of a Data and Insights Officer. improving fundraising analysis, segmentation, and cross-platform integration. The BIE Give Green Match Fund ralsed over £40,(KIO and showcased our potential for national-scale public fundraising. A Corporate Sponsorship Package has opened new opportunities for business partnerships. staff wellbeing remained a priority. Following the termination of our previous Employee Assistance Provider, a new provider was appointed. A 72% staff survey response rate showed positive year-on-year trends and reinforced our commitment to a healthy, inclusive workplace. Major Projects and Infrastructure The Wlld Brown5ea project achieved key milestones with the opening of the Fine Foundation Lookout, refurbished Villa infrastrutture, and new access and interpretation facllltles. The Villa's holiday accommodation wlll be completed for launch in late 2025. At Wild Woodbury. high construction cost estimates led to a revlsed strategy, seeking a commercial development partner with a view to selling development right5 while retaining land ownership. Market engagement is undeaYI Wlth decisions due mid-2025. Environmental Sustainability and Net Zero Dorset Wildlife Trust continues to lead by example on organi5ational climate action. All main sites are now powered by renewabSe energy, with heating via biomass, air-50urce or ground-source 5y5tÈms. Only three sites remain on oil, and transition plans will be developed throughout 2025. Overall, the Trust 15 close to carbon neutral but our priority remains to reduce actual carbon outputs. strategic Priorities for 2025-2026 Next year, t)orset Wildlife Trust will.. Complete the review of our Wilder Dorset 2030 strategy and update indicators. Estsblish a Chief Operating Officer role to lead business, finance, and income transformation. Launch a Buslness Development Unlt with a plan dLJe by September 2025. Submit a major National Lottery Heritage bid for Nature CoTrnertion: North Dorset, a flagship community engagement and nature recovery initiative. Implement our digital and fundraising transformation agendas. Acknowledgements The dedication of all our staff, trustees, volunteers, member5, funders, and partners have made this yearfs achievements possible and set the Stage for an even stronger year ahead.
DORSET WILDLIFE TRUST Report of the Dlrectors (including the Strategic Report) For the year ended 31 March 2025 (continued) Financial review A review of the financial position at the end of the reporting period Dorset Wildlife Trust has had another successful year with tjvo further land acquisitions. land acquired at Tadnoll was funded by 3 nutrient neutrality grant and land at Bracketts Coppice was funded by the Helen Brotherton Endowment fund. In addition, the charity received a gift in kind of buildings adjacent to Bracketts Coppice. The charity is also now formally managing the land at St Leonards in Ringwood under a Landscape and Ecological Management Plan as part of a $106 agreement which means that the £486,000 income received and treated as deferred in the prior year has now been recognised in the Statement of Financial Activities in the current year. The National Lottery Heritage Funded Wild Brownsea project to build a new visitor facility overlooking the lagoon on Brownsea Island was completed in March 2025. Work to refurbish the Villa on Brownsea Island which hosts further educational facilities, warden and visitor accommodation continue5 Wlth planned completion by September 2025. The Charity Commission approved the release of the Brownsea Island Endowment fund during the year to be spent specifically to enhance visitor access to the nature reserve and the £121,000 was released to the Brownsea development designated fund. The land at Lyscombe acquired in March 2024 funded by a grant of £5 million from Natural England has now tjeen transferred to a Permanent Endowment fund as per the Deed of Agreement with Natural England to manage the land for 125 years as a Mitigation Site as part of the Nutrient Credit trading scheme established by N3tural Englat)d. In March 2025 Council designated unrestricted funds totalling £60,000 to fund specific future planned projects and these are detailed in note 22lb) to the flnantial statement5. The results for the year under review show an overall surplus of £1.90 million split between a surplus of £1.22 million on unrestricted funds and £681,0(N) on restricted fund5. The unrestricted surplus include5 £1.6 million of unbudgeted accrued legacy income which will cover the budgeted deficit of E670.000 for the year and allow further drawdown on reserves in forthcoming years once fund5 are received. Dorset Wlldlife Trust continues to extlude legacy income from its budget due to its unpredictability and to restrict drawdowns from free reseeS towards future budgeted activities in order to maintain sufficient free resetves for the stability of the charity. This has allowed us to invest more of our ongoing free reserves to try to protect fLtnd5 from inflationary pressures whilst maintaining sufficient working capital to servi ongoing activities. The restricted surplus of E681,000 includes £170,000 capital grant from Dorset Council to acquire the land at Tadnoll and also the recognition of the St Leonards S106 income of £486,000 referred to above. Dorset Wildlife Trust hosts the Local Nature Partnership (LNPI.. all contributions received towards the funding of the LNP are treated as restricted funds and 311 relevant costs are expended from those funds. There is a balance of £48,000 {2024= £46,000) on the LNP fund relating to activities for 2025126. The Dorset Peat Partnership is Managed by Dorset Wildlife Trust to deliver the Climate Fund Peatland Discovery grant scheme funded by Natural England. Grant income due for the year is £626,fM)O to cover expenditure during the year of £600.000 with a net transfer of £15,000. There is a net balance carried forward of £92.000 to 2025126.
DORSET WILDLIFE TRUST Report of the Dirertors lincludinB the Strategic Reportl For the year ended 31 March 2025 Icontinuedl Dorset Wildlife Trust is in a strong p05ition at the year end with unrestricted funds of £7.18 million of which £3.15 million 3re held in investments, £2.3 million as fixed asset5. £1.6 million accrued legacy income £149,0(K) 35 net current working assets. The reduction in restricted funds of £4.20 million is due to the transfer of the £5 million Lyscombe natkjre reSee to the newly created Permanent Endowment fund. Against this £98,000 was transferred into restricted funds from the designated Brownsea development fund as matched funding for the restricted Wild Brownsea projett. Total restricted funds at the balance sheet date were £13.64 million. The Endowment funds at the balance sheet date were £6.2 million12024.. EI.3 millionl as a result of the new £5 milllion Ly5combe Endowment and the release of the £121,000 Brownsea Island Endowment fund. The Endowment funds are invested in £6.2 million of heritage assets with a £11,000 of cash remzining in the Helen Brotherton Endowment fund. Finantial reserves Free ReseThes The Trustees believe that, because of the uncertain nature of much of it5 income, it would be prudent for the charity to hold a level of free financial reserves (general unrestricted funds less those held a5 fixed essetsl for the following purposes.. To provide adequate short-term IiqLbidityJ and cover temporary timing difference5 in grant claims,. To provide reliable funding over the longer term,. To enable the Trust to respond quickly to unexpected opportunities, such as the purchase of land for nature reserves (the first of its charitable objects),. To absorb setbacks and manage change should a major income stream fail. The Trustees have determiried that the level of free reserve5 held by the charity should not normally fall below six months, total budgeted costs of the following year for both unrestricted and re5tritted fund expendtture. The Finance Committee monitor the level of reserves and report regularly to Council. Council, advised by the Finance Committee, review the Policy annually. Free Reserves Calcult7tion Z025 £'ooo 2024 General unrestricted fund5 Less tangible fixed assets Less Heritage assets Less investment property Free resee5 6,594 11,4681 18151 230 5,285 11,3771 18151 230 At the balance sheet date free financial reserves represented approximately nine months of our budgeted tgtal costs for the coming year 12024.. six months). Designated reserves Designated funds are those unrestricted reserves that the Trustees have designated for particular purposes. The total value of funds designated for specific projects as at 31 March 2025 totals £583,000 12024- £669,000). The projects are detailed in note 22b of the financial statements. 10
DORSET WILDLIFE TRUST Report of the Direttors {including the Strategic Report) For the year ended 31 March 2025 (continued) Investment power5 and policy Under the charity's governing document trustee5 are authorised to invest monies not immediately required for the furthering of the objects of the Trust in such manner, and upon such securities as may be deemed expedient, provided that monies subject or representing property subjert to the jurisdiction of the Charity Commission shall only be invested in such Securities and with such santtion as may for the time be prescribed by law. Governance The Finance & Resources Committee acts in accordance with the investment strategy approved by the Covncll. Wlth the approval of Council, the Finance & Resources Committee moy delegate the management of investment to one or more 3Uthorized fund managers on a discretionary basis in line with letters of instruction issued in line with this policy. The charity has nominated a list of 2Uthorized signatories. two of which are required to sign instructions to investment managers. The Council ha5 delegated authority to the Finance & Resources Committee to make investment decisions based on independent advice from the investment managers in circumstances requiring urgent action to mltigate the rlsk of substanilal losses to the charity. Such a decisiorb requires a quorum of three Trustees members of the Finance & R'esources Committee. Investment Policy Dorset Wildlife Trust's investment policy has two guiding principles- Protect the real value of capital of the investment over the period in which it is invested. 2. Optimise the total return of the investment over the period in which it is invested. Ethical Investment Policy Dorset Wildlife Trust has established an ethical investment policy which excludes investments in companies based on the level of environmental impact from the activities of those companies and the actions taken by those companies to mitigate negative impact5. Investment Objectives The charity seeks to produce the best financial return within an occeptable level of risk. The investment objective for the unrestricted long-teim reserve5 15 to generate a return in excess of inflation over the long term to support the on-going actwities of the charity. The investment objective for the unrestricted short- term reserves and restricted reserves is to preserve the capital value with a minimum level of risk. Unrestricted assets should be readily available to meet unexpected cash flow requirements. Rlsk The key risk to the long- term reseeS is future inflation. and the assets should be invested to mitigate this risk over the long term. The Trustees understand that this is likely to mean that investments will be concentrated in real a55ets and that the capital value will fluctuate. The short- term reserves are held to provide financial spcurity and may be required at short notice. As such excess capital volatility is unde5iiable and liquidity of investments of these assets should is required. The base currency of the investment portfoli05 is Sterling. Cash The ChariW5 cash balances should be deposited with institutions with a minimum ratlll8 of A- or invested in a diversified money market fund including Common Deposlt Fund5.
DORSET WILDLIFE TRUST Report of the Dlrectors (including the Strategic Report) For the year ended 31 March 2025 (continued) The Charity will draw down the cash in line with the budgeted expenditure and maturities of cash deposits should match the budget schedule. The Charity utilizes the CCLA Charities Official Investment Deposit fund to hold cash not immediately required for day- to day operations. Time Horizon The charity has divided its reserves into those expected to be held for 3 long- term time horizon and those that may be needed in the shortterm. Investment Strategy The Charity's investments were split between two independent professional investment managers each with differing approach to investment which, to some degree, should reduce the overall risk. close Asset Management manages £2.9 million at the balance sheet date including £1.7 million in short-term gilts. The risk profile of the other funds in the portfolio is medium with the priority being to make long- term gains and to take advantage of the greater long-term returns that may be available from higher risk assets. The increased weighting in higher risk a55ets is likely to increase the volatility of returns which can be mitigated to a degree by holding a spread of different investrnent types. A further £2.3 million is invested in CCL4 Charity Official Ethical Investment Fund. This represent5 restricted funds relating to four SANGS agreements and a S106 agreement all invested for the long-term to deliver returns fur the period of the a¥reements ranging from 50 to 80 years. The investment objective of the fund is to provide real long-term growth in capital values and rising income from 8 Portfolio managed within a clear risk control framework. The fund is an actively managed, diversified portfolio of a55ets designed to help protect funds from the effects of inflation. It has an emphasis on real assets, predominantly global equities but also includes property and infrastructure. Management, Reporting and Monitoring The investment managers are required to produce valuations and performance reports quarterly and are required to report in person to the Finance & Resources Committee on at least an Bnnual basis. The charity manages its own cash deposit5 and ha5 norninated a list of authorized SiEnatories, two of which are required to sign instructions to the deposit taking institution. The Finance Director monitors the cash positlon and prospective cash flow schedule and reports this to the Finance Committee at each quarterly meeting. The Committee reports formally to Council as approprlate. Fundraising Activities Our fundralslng standards Data protection Dorset Wildlife Trust is registered with the Information Commissioner's Office as a data controller. Dorset Wildlife Trust revised its Data Protection Policy and Notlce to ensure compliance with the General Data Protection Regulation IGDPRI. This information is publicly available on Dorset Wildlife Trust's website. 2. Fundraising Regulator Dorset Wildlife Trust is a member of the Fundraising Regulator. the independent regulator of charitable fundraising. The Regulator sets and promotes the standards for fundraising through the Code of 12
DORSET WILDLIFE TRUST Report ol the Directors (including the Strategic Report) For the year ended 31 March 2025 (continued) Fundraising Practice. Dorset Wlldllfe Trust follows thÈ standards of the Code of Fundraising Practi in all of its fundraising activities. Our fundralslng standards are publlshed on ourwebsite along with our fundraising complaints procedure. Complainants who are unsatisfied with how Dorset Wildlife Trust responds are referred to the Fundraising Regulator for further investigation. 3. Breache5 of fundraising standards There were no identified breaches of the Code of Fundraising Standards during the year. OUT fundraising method5, including fundraising agencies l. Face-to-face fundraising South West Wildlife Fundraising Limited ISWWFLI SWWFL is a company limited by guarantee, established by eight Wildlife Trusts, to engage in mutual trading and provide the Member Trusts with new members. SWWFL fundraisers attend booked venue5 Qr events. where they engage with the public. Dorset Wildlife Trust has a data processing agreement in place with SWWFL that stipulates how the two organisations will share and protect the data of the Dorset Wlldllfe Trust members signed-up by SWWFL. There is also an agreement in place between the two organisations which stipulates that SWWFL fundraisers must adhere to the Fundraising Regulatorfs Code of Fundraising Practice. It a150 States that SWWFL fundraisers must protect vulnerable people and members of the public from behaviour which is an unreasonable intruslon on a person's privacy. is unrea50nably persistent and which places undue pressure on a person to give money. The agreement also requires SWWFL to report any complaints to Dorset Wildlife Trust promptly. SWWFL is a corporate member of the Chartered Institute of Fundraising, and all their fundraisers are trained on data protection law5 and best fundraising practices using the Fundraising Regulatorfs Code of Fundraising Prattice. SWWFL fundraisers use a solicitation statement to explain to the public how they are paid and how much of any donation will benefit Doiset Wildlife Trust. 2. Telephone fundraising Quality Telephone SeThIs Ltd IQTSI QTS is a south-west based professional telephone fundraising agency that IS Used by many Wildlife Trusts to help with supporter retention and development. Dorset Wildlife Trust contracts with QTS to undertake fundraising campaigns such as recruiting new members, upgrading membership subscriptions and re-rec.ruiting lapsed members. QTS adheres to the Fur)draising Regulatorfs Code of Fundraising Practice and the stipulations regarding the Telephone Preference Service. Dorset Wildlife Trust also has a data processing agreement in place with QTS which stipulates how they will share and protect and process the data of Dorset Wildlife Trust members. 13
DORSET WILDLIFE TRUST Report of the Directors Ilncluding the Strateglc Report) For the year ended 31 March 202S (continued) 3. Individual giving fundraislng Oorset Wildlife Trust undertakes a range of fundralsing activities to generate additional income, primarilv focussed at members. These activities include amongst others. digitsl adoptioris and appeals, which involve mailing, email, website and social media promotion. These fundraising activities may also be promoted to the wider public through social media, paid advertising and press releases. Our legacy fundraising is focussed around Inviting longstanding members to attend a series of events around OL+r nature reserves, where they can hear haw legacies have benefitted our work and learn about the manogement of these sites. Legacy marketing also regularly features in Dorset Wildlife, our membership magazine. Last year we created a legacy enquirer pack, available to download from our website should anyone qUIre more irbformation about leaving a gift in their Will. In spring 2026 we plan to run a cold legacy door drop to encourage non-members to consider leaving Dorset Wildlife Trust a gift in their will. 4. Dwf Services Ltd. DWT SeNices Ltd sells a range of retail goods to the public through a number of visitor centres. 5. Corporate fundraising Dorset Wildlife Trust runs a corporate membership scheme, whereby businesses pay an annual membership subscription in return for benefits. In addition, we encourage our torporate partners and wider corporate contacts to SUPPOrt our work through donations, sponsorship, advertising or voluntary work. 6. Grants & Trusts Securing funding from grants and trusts is a major part of Dorset Wildlife Tru5t'5 fundraising work and involves significant resource from the Conservation teams collaborating in construrting funding blds. Monitoring fundraising artivities Agreements are in place with the agencies that carry out fundraising services on behalf of Dorset Wildlife Trust. These agreements stiPLJlate the required standards of fundraising that must be adhered to, data protection protocols and how any issues with regards to fundr815ing practices must be reported back to Dorset Wildlife Trust. Dorset Wildlife Trust holds regular meetings with the agencies where any Issues with fundraisin& activities are discussed and resolved. The Director of Fundraising & Marketing signs off on all fundraising attivitles. The approach used for each fundraising campaign is discussed in Fundraising & Marketing team meetings, and Fundraisin8 and Marketin8 Management Team meetings. Some of these activities are also discussed at quarterly Marketing Committee meetings, which involve Trustees. Each quarterthe Marketing Committee receives a report on any complaints Dorset Wildlrfe Trust has received during that period. Complaints about fundralslng During 2024-2025 Dorset Wildlife Trust received a total of 60 complaint5 from the public, of which 7 related to fundraising activities. All complaints were responded to directly and where appropriate the memberf5 preferences updated on the database. 14
DORSET WILDLIFE TRUST Report of the Dirertors (including the Strategic Report) For the year ended 31 March 2025 {contlnued) PrDtectlng vulnerable people In accordance with the Furtdrai5ing Regulatorfs Code of Fundraising Practice our fundraisers take reasonable Steps to treat a donor fairly, enabling them to make an informed decision about any donation. This includes considering the needs of any potential donor who may be in a vulnerable circumstance or require additional care and support to make an informed decision. Our fundraisers will not exploit the credulity. lack of knowledge, apparent need for care and support or vulnerable circumstance of any donor at any point in time. If one of our fundraisers reasonably believes that a supporter is unable to make a decision or 15 in a position which does not allow them to make a donatlon. then a donation is not to be taken or accepted. Our fundraisers must not use behaviour whlch Is an unreasonable intrusion on a person'5 privacy, is unreasonably per515tent andlor which places undue pressure on a person to give monev. The agreements we have with fundraising agencies include requirements to protect vulnerable people. Structure, governance and management Oorset Wildlife Trust is governed by its Articles of Association and is a company limited by guarantee with the number 688439 and charity number 200222. The charity's governing body is the Council to which Trustees are elected by members at the Annual General Meeting (normally around December each year). Council may co-opt additional Trustees to fill vacancies between AGMS, but suth persons must face election by members at the next AGM. Trustees endeavour to maintain a ba13nce of skills and expertise on the Council when seeking new or replacement Trustees and to that end a skills audit has been conducted. Offir5 of the Trust Ichair and Vice Chairs) are appointed by Councll from those elected by member5. Dorset Wildlife Trust is the sole trustee of The Helen Brotherton Trust which is registered with the Charlty Commission as a linked-charity. DWT Services Ltd. the charitvs trading sijbsidiary, was primarily involved in the sale of goods, holiday lets and other services. Profits generated are transferred to it5 parent company Dorset Wildlife Trust on an annual basis as a gift aided charitable donation. Both Dorset Ecology Limited and The National Wildlife Garden Limited are dormant subsidiarie5 of Dorset Wildlife Trust. The directors of DWT Services Ltd and the two dormant companies are appointed by the Council of Dorset Wildlife Trust and confirmed annually. Dorset Wildlife Trust's organi5ation can be summarised as follows: The Council of Trustees, which meets every quarter to review performance and set DWT policy and strategy. Council is supported and advlsed by flve committees: - Conservation Committee. Finance & Resources Commlttee. Health and Safetycommittee. Fundraising & Marketing Committee. - Personr¢el and Remuneration Committee. Council ha5 responsibility for all decisions of Dorset Wildlife Trust. Committees may only make decisions on Council's behalf where they have been formally delegated defined powers by the Council. othe1$e, all committees make recommendation to Council only. Only members of the committees appointed by Council are entitled to vote on advice or recommendations to Council. 15
DORSET WILDLIFE TRUST Report of the Directors lincluding the Strategic Report) For the year ended 31 March 2025 (continued} The only committee with delegated powers is the Finance & Resources Committee where exceptionally, and when a delay in decision-making presents a substantive risk to the charity's assets, named Trustee members of the Finance & Resources Committee may collectively make urgertrt investment detislons on behalf of Council. The Chief Executive has deleEated responsibility for financial and operating performance, and all staff. Dorset Wildlife Trust has several joint volunteer/st2ff groups that deal wTLh reserves, special events, and projects such as Living Churchyards, Site5 of Nature Conservation Interest ISNCII Forum, Agriculture Forum and Environmental Performance Group. Volurbteers provide assistance and 5UPPOrt in a wide variety of ways, practically and with admlnistrative tasks. How does the charity make decisions7 The Council makes decisions on polity as recommended by Committees and management. Implementation of those policies and operating decisions are delegated to the Chief Executive who may delegate authority through the management structure. The Council can over-ride any operating decision that it feels is not consistent with the Strategic Plan, Dorset Wildlife Trust policies or legal requirements. Induction and training of Board members Trustees, skills are vieWed regularly to ensure that the balance is suitable. New trustees undergo an induction process which involves meeting with officers and senior Dorset Wildlife Trust staff and are provided with an infgrmation pack detailing their responsibilities, governance. financial and other inftsrmatlon relating to the structure and operation of the Trust. All Trustees are invited to attend a range of training events relating both to governance issues and specific area5 of the charitls work. Arrangements for setting the pay and remuneratlon for the key management personnel. On at least a three-year basis, pay and remuneration are benchmarked by Personnel and Remuneration Committee IPRCI against other Wildlife Trusts and the wider sector. PRC then makes recommendations to Council. PRC may recommend an annual Increment to salary levels if owr can afford it. The rise is commonly determined by market rate comparisons cambined with affordability. The wider The Wildlife Trust ITWTI network Dorset Wildlife Trust is one of 46 Wildlife Trusts in the UK that together make up The Wildlife Trusts Network. Together, the Wildlife Trusts have over 900,000 members and more than 2,600 nature reserves covering over 97,000 hectares in their care. Dorset Wildlife Trust feeds into and may choose to adopt policies developed by, and participate in activities run by. The Wildlife Tru5t5 network. On a regional basis Dwf works closely wlth other Wildlife Trusts in the south-west including on joint projetts and initi?tives. Relationship wlth the charity and related parties including its subsidiarie5 The charity group consists of Dorset Wildlife Trust la charitable company limited by guarantee having no Share capital), the Helen Brotherton Trust, a permanent endowment fund formerly held within the charity and of which the charity Is the sole trustee, and three wholly owned subsidiary companies- a trading subsid12ry company, DWT Services Ltd la company limited by shares) and two dormant subsidiary companies, Dorset Ecology Limited and The National Wildlife Garden Limited. both are companies limited by shares. Separate Articles of A550Clation govern each company. Risk management The Finance and Resources Committee review and update the Corporate Risk Register at each meeting throughout the year reporting to Council any significant increases in risk to which the charity might be exposed in light of current prevailing circumstances. The perceived risk5 are categorised and prioritised by 16
DORSET WILDLIFE TRUST Report ol the Directors (including the Strategic Report) For the year ended 31 March 2025 Icontlnued) potential impact and likelihood of occurrence and appropriate risk managemeTbt strategies are implemented. There is a risk management policy in place with systems and procedures to mitigate risks identified. The key risks to Dorset Wildlife Trusvs operation that have been identified and priorstlsed for 2025-2026 are summarised below.. stmtegic risk offuiling to wioritise GTCtivities, cGpacity ond resources would Mean that Dorset Wildlife Trust is unable to respond to new opportunitie5 or chonge5 in policy. In the last few years Dorset Wildlife Trust has been well positioned to take advantage of opportunities arising from current planning and government initiatives for nitrate off-setting and nutrient mitigation schemes. This has enabled Dorset Wildlife Trust to create two new reserves a5 well as expanding existing nature reserves. The acquisitions along with the increased demands of managin& restoring and maintaining the new reserves and additional infrastructure has put considerable pressure on key staff. Trustee5 are mindful of ensuring that with the expansion of the conservation activities care must be taken that there are adequate resources to support and manage the increased activities and also to take advantage of future opportunities. In May 2025 plans for restructuring the Senior Leadership Team were put in place which include the recruitment of a Chief Operating Officer who will oversee the development and delivery of new and existing revenue streams and oversee the financial strategy, sustainability and operational efficiency of the charity. A Visitor Business Unit has a150 been established to increase income streams through our centres, retail, cafes and letting properties with the support of a marketing plan for these activities. Chonges in local or notionol government policies moy have a negotive impoct on the work of noture conservotion organisotions. The govemment have committed to reform the planning system wlth the re-instalment of local housing targets. review of green belt5 and seeking to reduce delays in decisions. This could have a significant impact in Dorset if nDt managed positively. At the time of writing the Planning and Infrastructure Bill threatens to weaken environmentsl legislation and proposa15 to change the system for Biodiversity Net Gairb may bring negative impacts. Both local authorities ore due to i55ue new Local Plans for consultation soon and Socal housing targets have significantly increased. At the same time a new Local Nature Recovery Strategy 15 bein8 produced. Dorset Wildlife Trust participates in key areas of both local and r)ational policy work, directly and through our umbrella organisation The Wildlife Trusts. We also work with the Dorset Local Nature Partnership and throuEh engaEementwth Local Authorities. Natural England and others seeking opportunities for influence. High worklood combined with externol pre55ures which impoct on cost-of-living results in increosed leve15 of stress afflongst staff. Dorset Wildllfe Trust offers flexible hybrid working to help staff maintain a healthy work-life balance while keeping team communications at appropriate levels. Regular contact is maintained with all staff via monthly one-to-one meetings as part of the performance management systems. The Chief Executive also meets with als staff individually and an annual staff survey is carried out to provide staff with the opportunity to raise concerns. Dorset Wildlife Trust subscribes to an Employee Assistance Programme and provides accredited Mental Health support training on a voluntary basis for staff. Externalfinancialpressures such as price rises deloys in supply chains ondinstability let7d to reduction in income, increose in costs ond un inability to meet delivery targets and obligutions. Although slgniflcant capital grants have been recognlsed durlng the year, underlying income streams and ongoing costs are closely monitored and corrective action taken when necessary to offset major impacts. Employer tax increases have been budgeted for from April 2025 and additional matched funding ha5 been required where this cost cannot be recovered from project funder5. Work is ongoing to secure significant additional funding for nature re5erwes through the new agri- 17
DORSET WILDLIFE TRUST Report of the Dirertors (including the Strategic Report) For the year ended 31 fvlarch 2025 Icontinuedl environmental schemes as well as the exploring new opportunities for BNG and r)utrient funding schemes. Third pGrtyface tofocefundroislng company South West Wildlife Fundroising LAmited (SWWFLJ foils to maintoin membership recruitment levels resulting in a declining income or lapse mtesfrom SWWFL recruited member5 rise 5AgnificGTntly. DDrset Wildlife Trust is heavily reliant upon SWWFL for membership recruitment and has experiented poor performance in recrultment levels over the last year. Steps have been taken to address this with strategic discussions with SWWFL management and there has been some improvement post year end. The need to diversify membership recruitment is a high priority and alternative recruitment avenues are being developed such as digital lead generation and face to face recruitment at visitor centres. FL7ilure to obtain Gdequote incomefrom membership andfundroisffng activities. Annual fundraisin8 plans are prepared as part of the budgeting procedure and evaluated in the budget risk assessment. The implementation of the plan and income generated are monitored on a continuous basis by manager5 and quarterly by the Marketing Committee and Finance & Resource Committee. Where additional resources might be required to meet funding targets this 15 assessed on a cost-benefit analy515 at the budgeting stage. In August 2024 a high risk of income shortfall in some key area5 of fundraising was identified. An improved income monitoring system was implemented and remedial f undrèising plan5 were developed. These include a restructuring of the Fundraising and Marketing Team with a focus on expanding data-driven digital income generation streams and improved major donor and corporate donor programmes. Work is also focussed on major new funding application5 following the completion of two large projects and the impending completion of another two major funded projects at the end of 2025-26. The legacy pipeline remains stable and the legacy tampaign introduced in 2023-24 continues to boost legacy pledges. Incret7sed competition forfunding from existing and new orgonisations and devolved operations of locol Juthorities. Dorset Wildlife Trust closely monitors potential fundlng sources and opportunities and has a grant approval proce55 to ensure all applications are completed to the highest standard. Slatement of the Board's responsiblllties The Trustees (who are also directors of Dorset Wildlife Trust for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees to prepare financial statements for each financial year which glve a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to: selett suitable accounting policies and then apply them conslstentlv. observe the methods and principles in the Charities SORP. make judgemerbts and estimates that are reasonable and prudent. state whetherapplicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements orn the going concern basis unless it is Inappropriate to presume that thÈ charity will continue in business. Trustees are responsible for keeping proper accounting records that disc105e with reasonable accuracy at any time the financial position of the charitable company ar)d enable them to ensuTe that the flnancial statements comply with the Companies Act 2006. They are a150 resptsnsible for safeguarding the a55ets of the charitable 18
DORSET WILDLIFE TRUST Report of the Directors (Including the Strategic Report) FOF the year ended 31 March 2025 (continued) company and the group and hence fortaking reasonable steps for the prevention and detection of fraud and other irregularities. ststement as to disclosure of informatlon to auditors The members of 8oard who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the members of Board have confirmed that they have taken all steps that they ought to have taken as members of Board in order to make themselves aware of any relevant audit informatiotb and to establish that it ha5 been communicated to the auditor. The Report of the Members of Board, which includes the Strategic Report were approved by the Board on I September 2025 and slgned on their behalf= Nkillklk M G Kibblewhite Chair of Trustees 19
DORSET WILDLIFE TRusr Independenl auditorfs report to the members and trustees of Dorset Wildlife Trust Opinion We have audited the consolidated financial statements of Dorset Wildlife Trust Ithe 'charitable parent company'l and its subsidiary I'the gTOUP'I for the year ended 31 March 2025 which tomprise the Consolidated Statement of Financial Activities, Consolidated Summary Income and Expenditure Account, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flow5 and r)otes to the financial statement5, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable irL the UK and Republic of Ireland" Iunited Kingdom Generally Accepted Accounting Practicel. In our opinion, the consolidated financial statements.. give a true and fair view of the state of the group's and charitable parent company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordartce with United Kingdom Generally Accepted Accountlng Prattice and: have been prepared in accordance with the requirement5 of the Companies Act 2006. Basis for opinion We condLJCted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's responsibilitles for the audit of the con501idated financial statements section of our report. We are independent of the group and charitable parent company in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordarnce with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going toncern In auditing the financial statements, we have concluded that the director5, use of the going concern ba515 of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any materlal uncertainties relating to events or conditions that, Indlvldually or collectively, may cast significant doubt Dn the group's and company's abilitv to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the direttors with respect to going concern are described in the relevant section5 of this report. Other informatlon The other information tomprises the information included in the Trustees, annual report (incorporating the Directors, report) other th3n the consolidated financial Statements and our auditorf5 report thereon. The Trustees are responsible for the other information contained within the Trustees, Annual Report. Our opinion on the consolidated financial statements does not cover the other information and, except to the externt otherwise explicitly stated in our report, we do not expres5 any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the consolidated financial statements or our knowledge obtained in thè audlt or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material mi5Statement in the consolidated financial statements or a material misstatement of the other information. If. based on the work 20
DORSET WILDLIFE TRUST Independent auditovs report to the members and trustees of the Dorset Wildlife Trust (continued) we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiztion given in the Trustees, Report Iwhich includes the Directors. Report) prepared for the purpose of company law, for the flnancial year for which the tonsolidated financial statements are prepared is consistent with the ronsolidated financial statements- and the Directors, Report. which is included in the Trustees, Report, has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the charitable parent company and their environment obtained in the covr5e of the audit, we have not identified material misstatements in Directors, Report. included in the Trustees. Report. We have nothing to report in respert of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accountlng records have not been kept by the charitable parent compar¢y, or returns adequate for our audit have not been received from branches not visited by us- or the charitable parent company's financial statements are rbot in agreement with the accounting records,. or certain disclosures of Trustees, remuneration specified by law are not made,- or we have not received 311 the information and explanations we require for our audit,. or the Trustees were not entitled to prepare the con501idated financial statements in accordance with the small companies, regime and take advantage of the small companies, exemption5 in preparing the Trustees. Report and from the requirement5 to prepare a Strategic Report. Responsibilities of Trustees As explained more fully in the statement of trustees responsibilities, the Trustees, who are also the Direttors of the charitable parent company forthe purpose of company law. are responsible for the preparation of the onsolidate¢l financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements. the Trustees are responsible for assessing the group, and the charitable parent company's ability to continue as a going concern. disclosing. as applicable. matter5 related to going concern and using the going concern b05[5 of accounting unless the Trustees either intend to liquidate the group or the charitable parent company or to cease operation5. or have no realistic alternative but to do so. AudstOT'S responslbillties for the audit of the ¢ons01idated financial statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an audltor's report that includes our opinion. Reasonable assurance 15 a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. 21
DORSET WILDLIFE TRUST Independent auditorfs report to the members and trustees of the Dorset Wildlife Trust Icontinuedl Misstatements can arise from fraud or error and are considered materlal If, individually or in the aggregate, they cauld reasonably be expected to influence the economic decisions of users taken on the basis of these consolid3ted financial statements. A further description of our responsibilities for the audit of the consolidated financial statements is located on the Financial Reporting Council'5 website 8t- http'./lwww.frc.org.uk/auditorsre5ponsibilities. This description forms part of our auditor's report. Irregularities, including fraud, are instances of non-compliance with law5 and reBulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularitie5, intluding fraud. The extent to which our procedures are capable of deterting irregularities, including fraud, is detailed below. Explanation a5 to what ejrtenl the audit was considered capable of deterting irregulartties, including fraud The objettives of our audrt in respect of fraud, are,. to identify and assess the risks of material misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evider>ce regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detertion of fraud rests with both management and those charged with governance of the charitable company and the group. Our approach was as follows-. The engagement partner selected a team for the audit, led by persons who had knowledge of the sector and who had the required competence and skllls to be able to identify or recognise non- compliance with laws and regulations. We assessed the risk of irregularities as part of our audit planning, and ongoing review, including those due to fraud. Management override was identified as a Significant fraud risk due to the ability of management to bypass controls and disclosure requirements. Completeness and cut-off of income was iderstified a5 a significant risk.. in particular recognition of legacies, donations grants and membership income. ClasslfTcation of income was identified a5 a significant risk in relation to the correct allocation of incorne between restricted and unrestricted funds. We also had to ensure that the expenditure against restricted income was in line with the income restri£tions. The valuation and c5assification of heritage assets and fixed assets was deemed a significant risk due to the nature of the asset5 and the potential for impairment or omitted disclosures. We obtained an understanding of the legal and regulatory frameworks applicable to the charitable parent company and the group and considered that the most significant are the Companies Act 2006, The Charities Act 2011, the Charity SORP, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation. We obtained an understanding of how the charitsble parent company and the group complies with these requirements through discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non- compliance or suspected non-compliance with law5 and regulatiorns. Consideration wa5 also made of the internal contro15 in place to mitigate the identified risks. We assessed the control environment. documenting the systems, tontrols and processes adopted. The audit approach incorporated a combination of controls where appropriate, arbalytical review and substantive procedures involving tests of transactions and balances. Any irregularities noted were discussed with management and additional corroborative evidence was obtained as required. 22
DORSET WILDLIFE TRUST Independent auditor's report to the members and trustees of the Dorset Wildlife Trust (continued) The consolidated financial statements of the group incorporate the results of the Subsidiary company. Moore (South) LLP are the auditor5 to the whole group and the same approach has been adopted to the Subsidiary company as appropriate to that entity. To address the rlsk of fraud through management override. we-. performed analytical procedures, tested journal entries and related p.arty transactions to identify any unusual transactions or unexpected relationships. assessed whetherjudgements and assumptions made in determining the accounting estimates were indicative of potential bias. tested a sample of trarb5actions that could be influenced by actions of management, and reviewed the nature of the disclosure5 Wlthin the financial statefflents to ensure they meet the requirements of accounting standards and relevant legislation. In response to the risk relatlng to income completene55 and cut-off, we- reviewed the accounting policies adopted for consistency of applitation and compliance with acceptable accounting practices. performed analytical ProdureS to identify any unusual or unexpected variations in recorded income. agreed a 5aTnple of income receipts from source documentation into the accounting retords. reviewed the terms and conditions of a sample of grants received to ensure the income is accounted for in the correct period. reviewed board mintste5 and correspondence for evidence of any further unrecorded income. obtained details of legacies due to be received at the year end from source documentation and ensuring that none were omitted from the account5 and those included were at the correct value,. and disCU5sed with management that there was no further income they were aware of that needed to be accounted for. In response to the classification of income between restricted and unrestricted fLtnds we: 3greed a sample of income receipts from Source documentation into the accounting records to ensure any restrictions to the income were correctly identified in revenue. agreed a sample of expenses incurred to ensure they had been allocated to the correct fund. and reviewed the analysis of funds for any misallocations of income or expenditure. In response to the classification and valuation of heritage assets and fixed a55ets we.. reviewed and discussed the assessment of impairment made by management and trustees. and reviewed the nature of the assets held to ensure appropriately classified. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedure5 required to identify non-compliance with laws and regulatlons to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if any. Materlal mlsstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. We commur)icate with those charged with governance regarding. among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 23
DORSET WILDLIFE TRUST Independent auditorfs reportto the members and trustees of the Dorsei Wildlife Trust (continued) Use of our report Thi5 report is made solely to the charitable parent companvs members, as a body* in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable parent company's members those matters we are required to state to them in an auditor5, report o oth purpose. To the fullest extent permitted by 13w, we do not accept or assume resp arnyo other than the charitable parent company and the chzritable parent ¢ompanVs me ody, f our audit work, for this report, or for the opinions we have formed. rs Ro ac Donald (Senior Sta for and on behalf of Moore Isouthl LLP Chartered Accountants Statutory Auditor ditorl 33 The Clarendon Cerntre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshi SPI 2TJ Moore Isouthl LLP is eligible for appointment as audltor of the charity by virtue of its eligibility for appointment as auditor of the company under section 1212 of Companies Act 2006. 24
DORSET WILDLIFE TRUST Consolidated Statement of Financial Activities For the year ended 31 March 2025 Note5 Unrestr5cted Funds Restrkted Endowment Funds Funds Year ended 31 Marth 2025 £'ooo Year ended 31 March 2024 £'ooo £'ooo INCOME & ENDOWMENTS FRof¥l: Donations & legacies Charitable activities Other trading actlvbties Investments Other. 3,260 251 214 163 29 921 2,482 4.181 2.733 214 165 29 10,593 1.767 214 92 TOTAL INCOME EXPENDITURE ON: Raising fund5 Charitable activitie5 other 1,049 1,698 1.051 4.388 1,079 3.279 2,6 TOTAI EXPENDITURE NET INCOMEIIEXPEl+JDITURE) FOR THE YEAR BEFORE ILOSSE5}IGAINS ON INVESTMENTS 1,170 712 1.883 8.336 Net Ilossesl/gain5 on investtnent5 47 31 19 193 NET INCOMEIIEXPENDITURE) 1.217 681 1.902 8.529 Transfers between funds NETMOVEMENTIN FUNDS 1,223 14,2041 4.883 1,902 8.529 TOTAL FUNDS BIFWD 22-24 TOTAL FUNDS C/FWty 22-24 The group has no recognised gains or losses other than those included above. The Con501idated Statement of Financial Activities has been prepared on the basis that all operation5 are continuing operations. The comparative figures are disclosed in note 34 to the financial statements. The notes on pages 29 to 57 form part of these financial statements. 25
DORSET WILDLIFE TRUST Consolidated Summary Incorne and Expenditure Account For the year ended 31 March 2025 Notes 2025 £'ooo 2024 Income Gains on irnvestments lrnterest and investment income Gross income in the financial year 7,157 17 162 12,602 193 92 Expenditure Depreciation & charges for impairnient of fixed assets Total expendlture In the financial year 5,288 15 4,237 121 Net income before tax for the financial year 1,898 8.529 Tax on net income from ordinary actlvlties 14 Net Income for the year The group'5 income and expenses all relate to continuing operations. The notes on pages 29 to 57 form part of the financial statements. 26
DORSET WILDLIFE TRUST Consolidated and Charity Balance Sheets Company Number 00688439 For the year ended 31 March 2025 Group 31 March 2025 Company 31 March 31 March 2025 2024 31 March 2024 Notes £'(x)o £.0 FIXED ASSETS Tangible assets Heritage assets Investments 15 16 17 4,025 14,490 5,(X)3 4.641 14,793 5A53 4.018 14,490 5,(Q3 14.793 5A53 24,892 23.518 24,887 23.511 CURRENT ASSETS Stock Debtors Cash at bank and in hand 18 19 216 2.629 955 139 2,871 1.573 198 2,622 871 121 2,866 1.507 3,8 4,583 3.691 4.494 CREDITORS.. Amounts falllng due within one year 20 11.6451 12.9561 11.6021 12.9241 NET CURR£NT ASSErs 2,155 1.627 2.089 1.570 TOTAL NET ASSETS 26 RESERVES AND FUNDS CAPITAL FUNDS Erbdowtnent funds 229 INCOME FUNOS General funds 22 lal 22 Ibl 6.594 5.285 6.523 5.221 Designated funds 583 669 583 Unrestrtcted funds 7.177 5.954 7.106 5.890 Restricted funds 23 13,641 17,845 ,641 17.845 TOTAL FUNDS 14 The parent company made a surplus for the year of £1,893.00012024= surplus E8,535,000). The notes on pages 29 to 57 form part tsf these financial 5tatementS. Approved by the Directors on I September 2025 and signed on their behalf by.. M G Kibblewhite..................................................... chair of Trustee5 27
DORSET WILDLIFE TRUST Consolidated and Charity Cash Flow Statement5 For the year ended 31 March 2025 Group 31 March 2025 Company 31 March 2025 31 March 2024 31 March 2024 Note5 £'o £'ooo £'ooo Cash flow5 from operating activities- Net ¢175h provided by opemtlng artlvities 31 640 622 Cash flows from Investing activities Divldends, interest & rents from investments Investmert mariageThent costs Proceeds from SBle of ftted assets Purchase of fixed a55ets Proceeds from sale of inve5trnents Purchase of investments 94 IZ81 89 1411 89 1411 1281 {8991 1.811 17,9141 2.886 18991 1.811 17.9141 2,886 Net Cash u5edin rnvestment ottivities Cash flows from financing attivitÉes Deferred SANG incorne Repayment of borrowing Nettosh (used in}/9enemtedbyfinuncing urtivitles 486 486 486 486 Change in cash ta5h Equivalents In the flnat)cial year 16181 169 16361 192 Cash and cash equlvalents at the beginnlng gf the year Cash and tash equlvalents at the end of the year 32 955 871 The notes on pages 29 to 57 form part of these financial statements. 28
DORSWILDL1FE TRUST Notes to the financial statements Forthe year ended 31 March 2025 ACCOUNTING POLICIE5 Dorset Wildlife Trust is a company limited by guarantee and incorporated in England and Wale5. The address of the registered office is Brooklands Farm, Forston. Dorchester. Dorset DT2 7AA. Basis of preparation The financial sLatements have been prepared under the historical cost convention. with the exception of investments and Stocks of biological assets, which are shown at market value, and freehold land and buildings. which have been revalued. The financial statements have been prepared in accordance with the charity Commission Statement of Recommended Practice ISORPI on Accounting and Reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Art 2006. The Helen Brotherton Endowment Fund is established as a separate legal entity known as the Helen Brotherton Trust of which Dofset Wildlife Trust IS the sole trustee. The Helen Brotherton Trust 15 included in the company financial Statements as it Is a link-charity. The Trustees confirm that the charity is a public benefit entity, as defined in FRS 102. The financial statements are prepared on a going concern basis. The Trustees have carefully reviewed the future prospects of the charity and its future cash flows. Having assessed this, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from signing of these financial statements. Group financial statements The Statement of Financial Activities ISOFA}, Consolidated Summary Income and Expenditure Account and Balance Sheet consolidate the financial statements of the charitv and its subsidiary undertakin8s. The results of the subsidiaries are consolidated on a line by line basis. No separate SOFA has been presented for the charity alone as permitted by section 408 of the Companies Act 2006. Fund Accounting 1.3.1 Unrestricted Funds These funds can be used for any of thÈ charitV5 purp05e5. 1.3.2 Restrirted Funds These funds have been given to the charity for a particular purpose to be vsed in accordance wlth the wlshes of the donor. 1.3.3 Endowment Funds These fund5 have been given to the charity for a particular purpose to be used in accordan with the wishes Df the donor. The capital can generally not be realised. 29
DORSET WILDLIFE TRusr Notes to the financial statements For the year ended 31 March 2025 (continued) I. ACCOUNTING POLICIES {continuedl 1.3.4 Designated Funds These funds which have been set aside by the Trustees out of unrestricted general fund5 for specific future purposes or projerts. Income All income is included in the SOFA when the charity is legally entltled to the income, the monetary vaSue can be measured reliably and it is more likely than not that the econDmic benefits a550ciated with the gift or transaction will flow to the charity. Membership subscription income is accounted for as received. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notific4tion ha5 been made by the executorlsl to the Trust that a distribution will be made, or when a distribution 15 received from the estate. Receipt of a legacy. in whole or in part, is only considered probable when the amount can be measured reliably and the charity ha5 been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charitv Is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed If material. Grant5 receivable (including government grantsl are accounted for when there is sufficient information to enable the claim to be made or the claim has been made and there is clear indication to suggest that the claim wlll be met. Performance related grants are accounted for when the conditions of the grant have been met. Grants received relating to agreements for Suitable Alternative Natural Green Spaces ISANGSI and other compensatory schemes are treated as deferred income until Such time as the formal establishment of the SANG5 ha5 been completed and approved by the local planning authorityj the condition5 for which are all outside the control of the charity. This includes the relevant planning permission being obtained to enable the designated land to be managed as a SANGS,- the formal trarnsfer of the management of the SANGS to Dorset Wildlife Trust,. and where the SANGS relates to specific developments, the completion of certain targets by the developer. When the SANGS has been formally established, the charity recognises the whole grant in the relevant accounting period. Income from investments and Gift Aid is accoLJnted for when it is receivable or the charivs right to it becomes legally enforceable. Volunteer help and Gifts in kind The charity receives support from a wide variety of volunteers. It is not practical to place a value on the time volunteered by all these persons due to the variety of duties performed, the difference in time spent and the sheer number of volunteers who give of their time. Gifts in kind are valued on the following basis.. Land values are a5 Stated in transfer documentation- where no value is quoted a best estimate of value by the trustees is used. Shares are valued at market value at the time of receipt. 30
DORSET WILDLIFE TRUST Note5 to the financial Statements For the year ended 31 March 2025 (continued} ACCOUNTING POLICIES Icontinuedl Expendlture All expenditure is accounted for on an accruals basis inclusive of any VAT which cannot be fully recovered and has been classified under headlngs that aggregate 311 costs related to that category. Costs of Raising Funds con515t of expenditure relating to appeals, communications requesting funds, Servicing of mernbership, grant applications and other general publicity as part of fundraising together with associated support activities and cost of sales. Support CQ5t5 are indirect costs incurred in providing support for activities related dlrectlyto the objects of the charity. The method of allocation of support COSt5 to the different activities is dependent on the type of tOSts and details are given in note 10 to the financial statements. Tangible fixed 05setS Fixed 35set5 are stated at original cost, less depreciation. with the exception of revalued freehold land and buildings. Assets donated subsequent to l February 1996 are included at their value on the date of receipt, except where the Directors, believe that the cost of valuation would be excessive. Assets below a value of £500 are not capitalised. Depreciation is provided at the followlng annual rates in order to write off each asset over its estimated useful life. Freehold Land Freehold Property and Improvements Leasehold Property and Improvements Farrn Building5, Hides and Fencing Tools and Equipment 2 _ 4tIA Straight line Straight line over period of lease 4- IOYO Straight line 5 - 25% straight line All assets are carried at historical costlsubject to the statement above regarding donated assets). except for the freehold land and buildings which had been revalued prior to the implementation of Financial Reporting Standard 102. As permitted by the standard. asset5 which had been previously revalued are included in the balance sheet on that basis which is now regarded as deemed cost. Acquisitions of fixed assets are accounted for when the purchase contract becomes unconditional. Herltage Assets Heritage a55ets are assets of historical, artistic or scientific importance that are held to advance preservation. Conservation and educational objectives of charities at a national or local level. Such assets are central to the achievement of the purposes of such charities and Include land. buildings and strutture5 that are conserved and are central to the educational objectives of such charities. They include land relating to the habitat needs of species. or the environment generally. The Trust's policy for the acquisition of heritage assets is set down in its Land Atquisition Guidelines. These Guidelines have been established to ensure that where opportunities arise 31
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 20Z5 Icontinved) ACCOUl+lTING POLICIES {contlnuedl for land acquisition, the benefits of potential ownership are measured against the criteria of the long-term strategic objectives of the Trust. All purchased heritage assets are carried at historical cost, except for the freehold land and buildings which had been revalued prior to the implementation of Financial Reporting Standard 102. As permitted by the standard, assets which had been previously revalued are inc5uded in the balance sheet on that basis which is now regarded as deemed c05t. Heritage a55ets gifted to the Trust are carried at the valuation at the date of receipt of the gift in kind. Heritage assets are reviewed annually to ensure thatthere has been no indicator of impairment affecting the valuation. Depreciation is provided on heritage assets on the following annual rates.. Freehold buildings- 2% Leasehold land & buildings- over the life of the lease Investments Listed Investments and the investmont property are Included at their market value at the period end date. Investments in subsidiarie5 are measured at cost less accumulated impairment. 1.10 Stock and biological assets Stock of goods for resple is stated at the lower of cost and net reallsable value, after making due allowance for obsolete and slow- moving items. Stock of raw materials is stated at the lower of cost and net reali5able value. Due to the nature of livestock, this aspect of stock is restated annually to the fair market value prevailing at 31 March each year. Livestock is valued using the local aurtion prices published by specialist auctioneers for the aurtion nearest to the balance sheet date and based on breed and age of livestock,- a provision is made for auctioneer commission costs. i.ii Pension contrlbutions The Trust contributes to 3 defined contribution pension scheme (Group Personal Penslon Plan), which is open to all staff after a three- month service period. The assets of the scheme are held separately from those of the charity. The contrlbutions to the defined contributiori scheme are charged to the statement of financial activities in the period they become pay3ble. 1.12 Leasing Rentals payable under operating leases are charged on a straight- line basis over the term of the lease. Assets held under finance leases are included in fixed assets and the capital element of the related lease commitment is shown as obligations under finance leases within creditor5. The lease rentals are treated as consisting of capital and interest elements. The capital element 32
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 (continued) ACCOUNTING POLICIES (contSnued) Is applied to reduce the outstanding obligations and the interest element is charged against the statement of financial activities over the period of the lease. 1.13 Financial Instruments The charity only has flnanclal assets and financial liabilities of a kind that qualify as baslc finBncial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of finance leases which are measured at the amortlsed c05t. 1.14 Judgements in applying accountlng policies and key sources of estimation Estimates and judgments are evaluated at each reportlng date and are based on historical experience as adjusted for current market conditions and otherfactors. Management makes estimates and assumptlDns concerning the future in preparing the financial statements and the actual results will not always reflect the account estimates made. The estimates and assumptions that potentially have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities of the Group are outllned below- Fixed A55ets'. As described above. the Trust reviews the residual values, estimated useful lives and depreciation rates of its tangible fixed assets at each reporting date to identify where any evidence of significant change exist5 since the last reporting date. For the year ending 31 March 2025, the Trust ha5 provided to depreciate assets by £150,000 12024- £121,000). Bad Debt Provision.. At each reporting date and throughout the year. the Trust's debtor balance is reviewed to identify any impairment required. and Specific provisions are made against this balance. The value of these provi5ion5 45 at 31 March 2025 are £Nil {2024: £Nill. Recognition of legacy income: Where notifications of legacies are received prior to the balance Sheet date but the income has not been received. an accrual for legacy iT)come will be made if probate has been Eranted and a copy of the estate5, accounts are available to determine the probable amount due and that there are sufficient assets in the estate to pay all liabilities and benefici3ries. 33
DORSET WILDLIFE TRUST Notes to the financial ststements For the year ended 31 March 2025 (continuedl 2. DONATIONS AND LEGACIE5 Unrestrlcted Restrirted Endowment Funds Funds Funds £'ooD £'ooo Total 2025 £'ooo Membership income Grants and donations Gifts in kind Legacies 1.255 227 175 1,255 1.148 175 921 921 The gift in kind 15 a donation of freehold barn and studio adjacent to the land purchased at Bracketts Coppice and valued professionally by an independent Surveyor. Prior year comptirotives Membership income Grtsnts und donotion5 Legucie5 2024 1,247 5,284 1,247 171 8.113 25 3. CHARITABLE AcfiviTIES Grants and contracts Primary purpose trading 2025 2,233 500 2.233 249 251 Z51 Prior year compuratives Grants Gnd contracts Prlmarypurpose troding 2Q24 1,483 12 262 274 1,471 22 4. OTHER TRADING ACTIVITIES 2025 76 99 30 Retail Facilitieslresource hi Rental income 76 99 30 Fundraisin 214 214 Prior year compart7tives Rett7il Facilities/resource hire Rentrjl income 2024 79 79 38 79 79 38 18 Fundroisino 18 214 214 34
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 l+Aarch 20ZS (contlnued) Unrestrlcted Restrlcted Endowment Funds Funds Funds Total 2025 5. INVESTMENT INCOME £'ooo 122 £'o £'o( £'ooo 122 Interest Dividend riental income 34 36 163 165 Prior yeor comparatives Interest Dividend Rental income 2024 40 40 32 li 45 79 li 92 Total 2025 6.OTHER INCOME Insurance claims Sundry income Profit on sale of fixed assets 14 14 29 29 Prior yeor compurotives Wayleaves Sundry income Profit on sale offixed assets 2024 21 22 27 28 Unrestricted Restricted Endowment Funds Funds Funds Total 2025 7. EXPENDITURE ON RAISING FUNDS £'ooo £'ooo £'ooo £'ooo Raising donations an.d legacies Membership serviclng & recruitment Trading company costs Investment management 383 521 118 27 521 118 28 35
DORSEf WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 Icontinvedl 7. EXPENDITURE ON RAISING FUNDS (continuedj Prior yeor comparative5 Roisino donations ond legacies Iwembership seNicing & recruitment Trgding company costs Investment manogement Unrestricted Restricted Endowment Funds Funds Funds £'ooo £'ooo Total 2024 £'ooD 372 372 558 108 34 558 108 41 8. CHARITABLE ACTIVITIES Total 2025 £'ooo 1,103 1,576 £'ooo 407 758 533 £'ooo 696 818 £'ooo Nature ReseTve management Nature Network Recovery Nature Based Solutions Prior year comporutives Nature Reserye monagement Nature Network Recovery Nature 8used 5olution5 2024 1,068 943 649 419 181 734 762 534 g.TOTAL EXPENDITURE Dlrect staff Costs Other Dirert Costs Support Costs Totsl 2025 £'o 371 É'ooo 398 28 £'ooo 254 £'ooo 1,023 28 1,103 1.576 Raising fijnds Investment management Nature reserve management Nature Network Recovery Nature Based Solutions 498 374 231 240 219 944 667 669 666 824 Prioryear comporotives ALJising funds Investment manogement Nuture reserve management Nature Network Recovery Noture Bosedsolutions 2024 341 436 261 1,038 41 41 361 303 475 478 400 586 229 240 207 1,068 943 937 36
DORSET WILDLIFE TRUST Notes to the flnancial statements For the year ended 31 March 2025 (Continued) 9. TOTAL EXPENDITURE (continued) Total expenditure 15 Stated after charEing- Group 2025 Group 2024 £'ooo Auditors, remuneration Audit (Company £14,425,. 2024- £14,614) Non-audit Icompany£l.550; 2024: £9501 20 21 Depreciation on owned assets Profit on sale of fixed asset5 150 121 37
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DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 11.TRADING INCOME The Company has a wholly owned trading subsidiary, Dwf Services Ltd (Company Number 22937631. which is incorporated in England and Wales. A summary of the trading results of the subsidiary to 31 March 2025 is shown below. Audited accounts are filed at Companies House. 2025 £'ooo 2024 £'ooo Turnover Cost of sales 177 (891 158 1841 Gross profit Other operating charges 88 144) 74 1421 Profit for the year before tax 32 A donation under Gift Aid of £33,889 was paid during the year to the charity out of distributable profits brought forward12024: £37,607). Capital and reserves of the subsidiary at 31 March 2025 were £69,265 12024.. £59,367). 12.STAFF COSTS Z025 £'ooo 2024 £'ooo Wages and salaries Social security costs Other pension c05ts 2,313 200 109 1,939 169 98 Staff costs for the Group and Campany Pension costs are allocated across activities in line with the allotatlon of wages and salarie5. The total amournt of employee emoluments for the five key management personnel during the year was £308,56612024.. five personnel £298,501). Employers, national insurance contributions totalling £27,127 12024.. £24,399) were made and pension contributions of £13,40212024.. £13,031) were made to a defined contribution scheme for the year for those personnel. The highest paid employee is the Chief Executive who received emoluments of £74,88812024.. £73,089) and pension contributions of £3.74412024.. £3.6541. The number of employees with emoluments over £60,000 per annum is as follows- 2025 2024 £60,001- £70,000 £70,001- £80,000 40
DORSET WILDLIFE TRUST Note5 to the linancial statements For the year ended 31 March 2025 (continued) 12. STAFF COSTS {continuedl The average weekly number of persons lincluding part time staffl employed during the year analysed by function was.. Group 2025 Company 2025 2024 2024 Management and administration RaisinE funds Nature reserve management Nature Recovery Networks Nature Based Solutions 12 15 17 19 21 84 li 14 17 14 19 75 12 15 17 19 21 84 li 14 17 14 19 75 EquNalent full-time staff 73 64 73 64 None of the Trustees received remuneration during the year (2024: £nill. No expenses were reimbursed to trustees during the year I2024- £nill. During the year £1.19812024.. £1,309) was paid direct to third parties in respect of 2 trustees attendiT)g the Rswf AGM and conferences ofwhich £673 was reimbuised by trustees. The charity has Directors and Officer5 Liability insurance in place and the cost for the year was £3.46412024'. £3.4641. 13.PENSIONS COSTS The charity operates a defined contribution group personal pension Scheme. The assets of the schemes are held Separately from those of the charity in independently administered funds. The pension cost charge represent5 contributions payable by the charity to the funds and amounted to £108,75012024- £98,455). A5 at the balance sheet date pension tontributions outstanding totalled £18,20012024.' £14,384). 14.TAXATION No corporation tax is charged in the accounts due to the charitable statu5 of the company. The trading subsidiary is liable to corporation tax on taxable profits. 41
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 (continued) 15. TANGIBLE FIXED ASSETS Farm Freehold Leasehold Bulldings, Too15 and Property and Property and Hides and Equipment Improvements Improvements Fencing £'ooo GROUP Total £'ooo COST A5 at l April 2024 Additions Disposals Transfers 2.904 175 176 328 11091 656 1,349 19 1,366 246 5,795 768 11091 16561 As at 31 March 2025 712 DEPRECIATION & IMPAIRMENT As at l April 2024 Charge for the year Disposals As at 31 March 2025 214 18 128 443 29 985 91 1,770 147 109 109 28 232 472 NET BOOK VALUE As at 31 March 2025 As at 31 March 2024 The net book value of assets held under finance leases 15 £Nil12024- £Nill. 42
DORSET WILDLIFE TRUST Notes to the financial Statements Forthe year ended 31 March 2025 (contlnuedl IS. TANGIBLE FIXED ASSETS {ttsntinuedl Farm Freehold Leasehold Buildings, Tools and Property and Property and Hides and Equipment Improvements Improvements Fencing £'ooo £'ooo ' COMPANY Total £,]0 COST As at l April 2024 Additions Disposals Transfers As at 31 March 2025 2,904 175 176 328 11091 656 1,349 19 1,308 246 5,737 768 (1091 656 712 DEPRECIATION & IMPAIRMENT As at l Aprll 2024 Charge for the year Disposals As at 31 March 2025 214 18 128 933 89 1.719 145 109 29 109 28 232 47 NET BOOK VALUE A5 at 31 March 2025 23 As at 31 March 2024 375 The transfer of £656.000 costs to Leasehold Property relates to the Constrction of the new Look Out on 8rownsea Island which was included as assets under construction under Hides and Fencing in the prior year. Additional costs of £143,000 incurred during the year brought the works to completion in March 2025- as such no depreciation ha5 been provided on the Look Out thls year. Also included with Leasehold Property are £185.000 of costs relating to ongolng malor capltal works on the 8rown5ea Villa which once completed next year will be depreciated over the period of the lease. 43
DORSEf WILDLIFE TRUST Notes to the financial ststements Forthe year ended 31 March 2025 (continued) 15. TANGIBLE FIXED ASSETS Icontinuedl The property known as 8rooklands Farm was revalued in March 2000 by Hull, Gregson & HLJII, Chartered Surveyors. This valuation is regarded as the deemed cost. As stated in the accounting policy, the Trust carrie5 the freehold land and buildings at a valuation of £460,000. The assets were revalued in 2000 and have not been updated since. The historical cost of these assets is £585,858. The net book value of assets held under finance leases is £Nil 12024: £Nill. The comparable amounts of land and buildings included at valuation, dEtermined according to the historical cost accounting rules, are as follows.. Cost at l April 2024 and 31 March 2025 586 Depreciation At l April 2024 Charge for the year 281 12 As at 31 March 2025 293 Net book value as at 31 March 2025 Net book value as at 31 March 2024 16. HERITAGE ASSETS Freehold Property Leasehold Property GROUP AND COMPANY Total COST OR VALUATION As at l April 2024 Additior15 14,455 306 356 14,811 306 As at 31 March 2025 356 DEPRECIATION As at l April 2024 Charge for the year 21 3(K) 321 As at 31 March 2025 23 301 324 NET BOOKVALUE As at 31 March 2025 A5 3t 31 March 2024 Heritage assets include land relating to the habitat needs of species. or the environment generallv. 44
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 (continued) 16. HERITAGE A55ET5 Icontinued The five year financial summary of heritage asset transactions is as follows= 2025 £'ooo 130 176 2024 £'ooo 2023 £'ooo 2022 £'ooo 2021 Acquisition5 Land at Bracketts Copplce Land at Tadnoll Land at Kingcombe Land at West Holme Land at Lyscombe Land at Wild Woodbury Land at Lower Common, Verwood 414 603 5.912 (1951 3,139 Totsl acqulsltlons 306 195 The charity completed the purchase of 8.26 hectares of freehold land adjacent to the existing Tadnoll and Winfrith Nature Reserve on 22 November 2024. Th'e purchase was funded by a nutrient mitigation grant from Dorset Council. The charity completed the purchase of 7.02 hectares of freehold land adlacent to the exlgting Bracketts Coppice Nature Reserve on 31 January 2025. The purchase was funded bythe Helen Brotherton Permanent Endowment Fund. 45
DOR5ETWILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 Icontlnued) 17.INVE5TMENTS-GROUP AND COMPANY Group 2025 £'ooo 5.003 2.242 {1,818) 26 2024 £'ooo 4,007 3,689 13.0101 317 Carrying value as at l April 2024 Additions to investments at cost Disposals at carryirbg value Net gain on revaluation Carrying value a5 at 31 March 2025 Analysis of investments Quoted investments Investment properties 5,223 230 4,773 230 Market Value 2025 £'ooo 1,791 247 638 131 81 27 Market Value 2024 £'ooo 1,706 253 596 139 54 39 Fixed Interest Securities UK Equities Overseas Equities Alternatives Commoditie5 Property CCLA Charities Ethical Investment Fund Investment property 2025 £'ooo 230 2024 £'ooo 230 Value as at l April 2024 Revaluation during the year Value as at 31 March 2025 230 230 The investment property is a freehold property at Elmview Terrace, Gillingham. The property wa5 valued at £230,000 by an independent surveyor a5 at 31 March 2023. The company also holds investment5 of £812024: £81. These include £4 being the nominal value of the shares held in it5 wholly owned subsidiary DWT Service5 Ltd, £2 being the nominal value of the shares held in the wholly owned Subsidiary Dorset Ecology Limited and £2 being the nomlnal value of the shares held in the wholly owned subsidiary The National Wildlife Garden Limited. The trading results of DWT Services Ltd are given in note 11. Dorset Ecology Limited and The Nationzl Wildlife Garden Limited are both dormant companies. The registered office of all three subsidiaries is Brookland5 Farm, Forston. Dorchester, Dorset Df2 7AA. 46
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 20251continued) 18. STOCK Group Company 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Goods For Resale Farm Livestock and Deadstock Raw Materials 18 189 18 112 189 112 216 139 198 121 19.DEBTORS: FALLING DUE WITHIN ONE YEAR Group Companv 2025 £'ooo 2024 £'ooo 2025 £'OOD 2024 £'ooo Trade debtors Amount5 due from subsidiary undertaking Other debtors Prepayments and accrued income 600 189 603 190 62 1.967 1.349 1.333 62 1.957 1,349 1,327 Prepayments and accrued income include £1.593,000 of accrued legacy income12024: £498,000) and £235.0 of accrued grant income12024- £508.0001. 20.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company 2025 £'ooo 381 2024 £'ooo 314 2025 £'ooo 379 2024 £'ooo 314 Trade creditors Afflounts owed to subsidiaries Other taxe5 and Social security costs Other creditors Obligations under hire purchase and finance agreement5 Wlthin one year Accruals and deferred income 51 98 1.042 97 48 98 1.038 97 1,115 1.503 1,076 1.475 Accruals and deferred income include £930.293 relating to payments received for the management of two SANGS- one at Frome Valley Road where the management of the site has not yet been transferred to the tharity and one at Corfe Mullen where planning consent has not yet formally been granted. 47
DORSET WILDUFE TRUST Notesto the financial statements For the year ended 31 March 2025 Icontinuedl 20.CREDITOR5: AMOUNTS FALLING DUE WITHIN ONE YEAR Icontinuedl An analysis of deferred income movements included within Accruals and deferred income is given below. Movements in deferred income Group Companv 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Deferred income as at l April 2024 Release of deferred income Income deferred during the year Deferred income as at 31 March 2025 1,439 15101 31 960 953 1201 506 1,419 14891 933 486 930 The release of deferred income of £510,000 relates to £486.000 received for the management of land at St Leonards in Ringwood under a section S106 agreement which was formally transferred to the charity during the year, £3,000 relates to the release of deferred HLS re-alignment receipts and £21,000 release of deferred letting income in the tradir)g subsidiary as does the new income deferral of £31,000 at the year end. 21.ENOOWMENT FUNDS Realised gains/ Revaluation5 GROUP AND COMPANY l April 2024 £'ooo 31 March 2025 £'ooo Income Expenditure £'ooo Transfers £'ooo £'ooo £'ooo Brownsea Island Endowment Helen Brotherton Endowment Fund Lyscombe Endowment Fund 121 11211 1,225 iii 1,229 5,QOO 5.000 Reolised goins/ Revoluotions £'ooo GROUPA*VD COMPANY l April 2023 £'ooo 31 Murch 2024 £'ooo Incctme Expenditure Tronsfers £'ooo £'ooo Brownsea 151(Jnd Endowment Helen Brotherton Endowment Fund 129 (ij (8J 121 1,198 io (4) 21 1,225 13 The Brownsea Island Endowment Fund was set up to fund the upkeep of the reserves on Brownsea Island. On 2 December 2024 Council passed a resolution under S282 of the Charitie5 Act 2011, proposing the Brownse3 Island Endowment Fund should be reSeased and spent specifically on the works being carriÈd out to enhance visitor access to, and protection of, the Dorset Wildlife Trust Brownsea Island nature reserve. 48
DORSET WILDLIFE TRUST Notes to the financial statements Forthe year ended 31 March 2025 Icontlnued) 21.ENDOWMENT FUNDS Icontlnuedl The Charity Commission confirmed the resolution on 5 February 2025 and the fund of £120,957 has been transferred to the unrestricted designated Brownsea development fund. The Helen Brotherton Endowment Fund w45 set up under the terms of a bequest from Miss 8rotherton. Income from the fund may be used for the acquisition of new reserves, the management of existing reserves. the prornotion of recording and monitoring of wildlife and to promote education and enjoyment of the charitws nature reserves with an ernphasi5 On local people and youth. The Endowment Fund is established as The Helen Brotherton Trust. a separate legal entity but a linked charity- During the year £129.640 was used to fund the acquisition of land at Bracketts Coppice. At the balance sheet date the Endowment Fund has £1,218,385 in heritage assets and the balance of £10,525 is held in investments and cash. The Ly5combe Endowment fund is a permanent endowment fund established in the Deed ofAgreement with Natural England whereby a capitsl sum of £5M was paid to Dorset Wildlife Trust to acquire the land as a Mitigation Site as part of the Nutrient Credit trading scheme established by Natural England. Under the agreement Dorset Wildlife Trust will manage the land as a Mitigation Site for a term of 125 years. This fund was treated as a Restricted fund in the prior year accounts. Income earned during the year represents Interest receivable and investment income- expenditure during the year includes investment management charges. 22{al UNRESTRICTED FUNDS- GROUP General Designated Fund Fund £'ooo £'ooo Total £'ooo Balance as at l April 2024 5,285 669 5,954 Movement In fund5 for the year Transfer between funds 1,265 1481 1381 1,217 Balance as at 31 March 2025 $83 UNRESTRICTED FUNDS- COMPANY General Deslgnated Fund Fund £'ooD £'ooo Total £'ooo alan a5 at l April 2024 5,221 669 5,890 Movement in funds for the year Transfer between fund5 1,258 44 48) 138) 1.210 Balance as at 31 March 2025 583 49
DORSET WILDLIFE TRUST Notes to the financial statements Forthe year ended 31 March 2025 {contlnued} 22 Ibl DESIGNATED FUNDS- GROUP ANDCOMPANY l April New Outgoing 2024 Designation5 /Release £'ooo £'ooo £'(rfJo 31 March 2025 £'ooo Ash Die back fund 8rexit impact fund Brownsea development fund Environmental performance fund Explore Dorset fund Headquarters development fund Imerys fund Peachey Legacy fund Nature Reserve Fencing fund Wild Woodbury site development fund 160 50 1231 1501 1991 161 1141 121 137 io 121 40 32 65 18 38 31 32 20 20 200 39 124 1711 129 39 122 121 669 181 267 583 The Council approved two new designations of funds in March 2025 for activities identified as requirlng significant Investments to be set aside over the coming few year5. The Ash Die back fund is being used to cover the costs of dealing with the removal of affected trees on our nature reserves. During the year £23,000 was drawdown. Nature Reserve Fencing Programme fund was put aside to support an ongoing programme to replace fencing on our reserve5. During the year there was no drawdown due to grant funding available. The Brownsea development fund was designated to support the National Lottery Heritage Funded Wild Brownsea projert. This project has been completed but the continued development of improved facilities at the Brownsea Villa for education and engagement Is ongoing. The Brownsea 151dnd Endowment fund has been released Isee note 211 and transferred to this designated fund. During the year £99.000 has been drawn down leaving £32,000 towards the completion of thi5 final phase of the development. The Explore Dorset designated fund is to cover the costs of a programme of replacihg and updating interpretation on Nature Reserves and visitor centres. During the year £14,000 was drawn down leaving £18,000 to carry forward. The Headquarters development fund was established to put funds aside to asses5 the charitvs fLrture requirements for its headquarters as part of 3 Strategic estates review and in light of the changing work environment. During the year Council concluded that the existing prernises were the only current viable option. There was a small drawdown of £2,000 and Council designated a further £20,000 to enable refurbishment works on the existing premises to be planned to improve the working environment for staff. The Brexit impact fund was designated to ease the tran51tion in agri-environmental funding arrangements that supports the conversation work on our nature reserves. There has beÈn a final drawdown of £50,O¢JO in the current year to offset costs of wardens on nature reserves. 50
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 (continued) 22b. DESIGNATED FUNDS~ GROUP & COMPANY (continued) The Environmental performance fund was designated in 2022 to invest in the charitS strategic goal of achieving net zero carbon footprint by 2030. During the year £6,000 was expended on the purchase and installation of three electric vehicle chargers. A further £40,000 was designated by Council in March 2025 to enable proposed installation of solar panels and alr source heat pump at various sites and the replacement of a diesel van with an electric vehicle. The Imerys fund is an unrestricted donation designated for specific conservation work in river catchment areas. There has been no drawdown during the year. The Peachey Legacy fund was designated by Council in Mar(h 2024 from a large legacy which was originally bequeathed to the Kingcombe Trust. Dorset Wildlife Trust merged with the Kingcombe Trust in 2010 ar)d hence the legacy passes to Dorset Wildlife Trust as an unrestricted legacy. Funds of £200,000 have bee designated for the Kingcombe Centre and it is planned to utilise £50,000 toward5 capital costs for the Centre and the balance of £iso,000 will be utilised over three years to Support the ongoing activities of the Centre. During the year £21,(NJO was drawn down towards capital costs and £50.000 towards the running costs of the Centre. The Wild Woodbury site development fund was designated towards the costs of planning the development of the redundant farm complex at Wild Woodbury. Follgwing di5CU5sions, the initial plans were deemed to be unviable in the current economic climate and alternative methods of development are being investigated. There was a small drawdown of £2.000 during the year. 23. RESTRicfED FUNDS- GROVP & COMPANY Balance at l April 2024 Revalu Transfers Balance at ations 31 March 2025 £'ooo Income Expendlture £'ooo £'ooo £'ooo £'ooo £'ooo Heritage Assets- Nature Re5eNe5 Lyscombe Nature Reserye West Holme Nature Reserve Fixed Assets fund ReseNe Acquisition fund Appeals Funds Nature Reserve Management Nature Recovery Networks Nature Based Solutions Local Nature Partnership Dorset Peat Partnership Species Recovery Pmlect 5t Leonard's S106 Fund Corfe Mullen SANGS Frome Valley SANG5 Wild Woodbury SANGS Fundraising development 6,308 5,662 838 15,6621 7.146 603 2,539 147 127 603 2,523 1301 14 13231 1701 176 57 185 275 654 922 16861 17111 165 144 318 630 817 46 81 381 65 626 93 14801 1631 16001 1951 721 48 92 {151 52 486 181 141 181 Iiii 530 37 42 894 34 36 930 14 1251 31 51
DORSET WILDLIFE TRUST Notes to the financial statements For the year ended 31 March 2025 (continued) 23. RESTRICTED FUNDS- GROUP & COMPANY Icontinuedl BLTlarJce at l Apri12023 Revolu ation5 Tronsfers Bolance ot 31 Morch 2024 £'ooo Income Expenditure £'ooo £'O(YO £'OOO Heritage Assets- Aloture Reserves Lyscombe Nature Reserve West Holme Nuture ReSee FixedAssetsfund Visitor Centres Reserve Acquisition Funds Appeols Funds Nattjre Reserve Monugement Noture Recovery Network5 6.139 (3) 172 662 6,308 5.662 600 603 2,539 (33) 2,572 (8171 (1,358? (92) 817 280 219 1,225 147 127 199 288 397 724 1409J (165) (2) {570) 185 277 Noture Based Solutions Local Nature Portnership Dorset Peat Partnership St Leonard's S106 Fund Corfe Mullen SANGS Frome VGlley 5ANGS Wild Woodbury SANGS Fundraising development 1,151 74 389 62 340 (334) (goj (274) (389) 817 45 81 52 34 36 930 15 52 34 57 60 (2J {26) 896 183 196 The Heritage Assets - Nature Reserves fund represents land acquired as nature reserves with restricted funds. The transfer of E838,000 relates to the £176,000 purchase of land at Tadnoll in November 2024 and the reallocation of £662,000 of major donor funding from the Lyscombe Nature Reserve fund following reclassificatlDn of the capital sum of £5M received from Natural England to a Permanent Endowment fund for the purchase of the Lyscombe site. The Lyscombe Nature Reserve fund represented the land acquired in March 2024 funded by Natur31 England and other major donors. The fund has been reclassified a5 3 £5M Permanent Endowment Fund representing the capital Sum received from Natural England, and the balance of the acqui51tlOn CQ5ts £662,000 funded by major donors moved to Heritage Assets. The West Holme Nature Reserve fund represent5 land acquired in October 2023 funded by 2 grant agreement with Dorset Council and 8ournemouth Christchurch and Poole Council. Under thi5 agreement a capital sum of £599,203 was granted to purchase and manage the land to enable the Councils to meet their respective duties under the Conservation of Habitats and Specie5 Regulations 2017 to mitigate against the production of nitrates by development elsewhere. The grant aEreement is for 80 years. The Fixed Assets fund represents all fixed a55ets held that were purchased usirsg restricted funds where the Use or disposal of the asset is restricted in line with the original grant or donation. This fund was set up in 2023-24 as part of the implementation of a new accounts system and fixed 3ssets held in other funds have 52
DORSET WILDUFE TRUST Note5 to the financial statements For the year ended 31 March 2025 (continued) 23. RESTRICTED FUNDS- GROUP & COMPANY {contlnued} been transferred to this fund. The transfer of £14,000 during the year is an adjustment form the Nature Based Solutions ftjnd. The Reserve Acquisltlon fund represents legacies. donations and grants received specifically for the acqLtisition of land. The transfer of £323.000 includes the utilisation of £176,000 funds raised for the acquisition land at Tadnoll and moved to the Heritage Assets fund and a further £147,000 moved to the Nature Reserves Management fund. This represents major donor funds which the donor has agreed to furbd the restoration work of the new land at Tadnoll over the next three years. The Appeals fund represents donations and capital giants received from appeals for money for specific purposes. The transfer of £73,000 includes £30,000 of major donor funds drawn down to the Nature Reserves Management fund for the Kingcombe National Nature Reserve. £22,000 of major donor funds utilised for Traineeships, £17,000 of badger funds transferred to the Nature Based Solution fund and £3.500 of the Bat fund to the Nature Reserves Management fund. The Nature Reserve Management fund predominantly represents agri-environmental funding received and expended on the restoration and upkeep of our nature reserves. Other funds held include sums from other sources relating to latKI management costs. The transfer of £180,000 reflects the £147,000 transfer from Reserves Acquisition fund for the restoration of the new land at Tadnoll. £30.000 from the Appeals fund for work on the Kingcombe National Nature Reserve and £3,51XI of Bat funds. The Nature Network Recovery fund represents restrlcted funding received, usually in the form of grants, for the specific purpose of raising awareness of the natural environment and large-scale landscape project5. The transfer includes £99.000 transfer from the designated Brownsea Development fund and £22.000 from Appeals fund as contribution towards Traineeships. The Nature Based &)lution funds represent restricted funding recelved for community engagernenL farm liaison projects, rewilding projects, work monitoring biodiversity in the county and working with other partners. The net incoming transfer of £3,000 includes transfer of £17,000 badger funds from the Appeals fund less transfer of £14,000 to Fixed Assets fund. The Local Nature Partnership ILNPI is hosted by Dwt and the LNP manager Is employed by DWT. The fund includes contributions received and related costs of the partnership and the balance carried forward represents contributions received in March 2025 towards 2025126 costs. The Dorset Peat Partnership Is managed by DWTto deliver the Climate Fund Peatland Discovery grant scheme funded by Natural England. The fund includes grant income due for the year and expendlture incurred and the transfer of £15,000 is a correction from the prior year. The St Leonard's S106 fund represents the investment valuation of funds invested in CCLA Charitles Ethical Investment Fund. The capital sum of £486,000 was received in the previous year being the sum due under a 5106 agreement signed in 2015 to which Dorset Wildlife Trust was not a party but was nominated as the recipient of capital sum to manage the designated site at the former 5t Leonard's Military Hospital in accordance with the agreed Landscape and Ecological Management Plan. The18nd wastransferred to Dorset Wildlife Trust on 29 June 2023 for £1. The funds have now been recognised as income during the year as the conditions for the formal transfer of the management of the site have been satlsfied. The Corfe Mullen SANGS fund represents the net investment revaluation of funds invested in CCLA Charities Ethical Investment Fund. The SANGS agreement of 2017 provided for Dorset Wildlife Trust to receive £252,000 towards lunding the management of land owned by Dorset Wildlife Trust at Merley Park Road. 53
DORSET WILDLIFE TRUST Notes to the financial slatements For the year ended 31 March 2025 (continued) 23. RESTRIED FUNDS-GROUP & COMPANYlcontinued) Corfe Mullen as a SANGS. The funds are invested in CCLA Charities Ethical Investment Fund with a decrease in valuation of £4,000 at the balance sheet date. The transfer of £7,000 relates to a corrertion to the b31ance brought forward. The initial receipt of the gront has not been recognised as income as the conditions for the formal transfer of management the SANGS have not yet been satisfied; the £252,000 has been included in creditors as deferred income. The Frome Valley SANGS fund represent5 the net investment revaluation of funds invested in prior years and to date. The SANG5 funds of £678,000 were received in 2021 and are currently invested with CCLA Charities thical Investment Fund. The grant is a one-off receipt and the period of the grant is 80 year5. The grant is a restricted fund and will confer financial obligatlons over the period of the grant in managing the SANGS. The initial receipt of the grant has not been recognised as income as the conditièns for the formal transfer of managing the SANGS have yet been satisfied,. the £678,000 has been included in creditors as the deferred income. The transfer of £14,(xX) relates to a prior year recalculation of investment allocations upon sale of the old Ruffer portfolio. The Wild Woodbury SANGS fund represents the grant of £895,035 received as part of an agreement signed on 25 August 2023 with Dorset Council to manage 12.5 hectare5 of freehold land owned by the charity at its, Wild Woodbury site as an Suitable Alternative Natural Green Sp3ce ISANGSI. The grant is a one-off receipt and the period of the grant is 80 years. The grant is a restricted fund and will confer financial obligation5 over the period of the grant in managing the SANGS. At the balance sheet date. £76,OLNJ wa5 held as Fixed Assets, £768,000 a5 investments and £50,000 as cash. 24.ANALYSIS OF GROUP NET ASSETS BETWEEN FUND5 Unrestricted Designated Funds Funds £'ooo Restricted Endowment Funds Fund5 £'o Total Funds £'ooo Fund balances at 31 March 2025 are represented by- Tangible fixed assets Herltage assets Investments Net current assets 1,468 815 3,145 1,166 3,178 7,760 2,308 395 6,218 14.793 5,453 2.155 583 li 583 Unrertrirted Designated Funds Funds £'ooo £'ooo Restricted Endowment Funds Funds £'ooo £'ooo Total Funds Fund bolGnces at 31 Morch 2024 ore represented by.. Tangiblefixed ussets Heritage 05set5 Investments Net current assets 1,377 815 2,820 273 2,648 12,586 1,986 625 4,025 14,490 5,003 1,627 1,089 197 60 669 569 54
OORSETWILDLIFE TRUST Notes to the financlal statements For the year ended 31 March 2025 (continued) 25. SHARE CAPITAL The Cornpany is limited bv Buarantee and does not have any share capital. 26.COMMITMENTS UNDER OPERATING LEASES At 31 March 2025 the charity had non-cance113ble commitments under operating leases expiring as follows.. Land & Building5 Other 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Lease payments Falling due within one year Falling due between two and five years Falling due after five years 3S 99 143 33 ioi 142 18 23 27. RELATED PARTYTRANSACTIONS As at 31 March 2025 the charity had an outstanding debtor of £2,587 {2024- £2141 due from Services Ltd. its wholly owned trading subsidiary. During the year the charity charged Dwt Services Ltd £18,823 12024: £17,280) for use of facilities and resources and received a donatlon from DWT SeNices Ltd of £33,889 12024.. £37,607). Donations reteived from trustees during year totalled £012024.. £74,978). Detai15 of key management personnel compensation are disclosed in note 12. 28. CAPITAL COMMITMENTS As at 31 March 2025 the Group and the charity had outstanding contracted capital commitments of £46,780 12024: £175,754) and authorised but not contracted capital commitments of £Nil12024= ENill. 29. CONTINGENT ASSETS As at 31 March 2025 the charity had contingent a55etS totalling approximately £5(10,(K)012024.' ENill. These relate to two estates of which the charity is a residual beneficiary but for which there are currently no finalised estate accounts or notification from executors as to the amounts expected to be paid out. A5 such it is not possible to measure the amount due with reasonable accuracy to recognise the income in the attounts. 30. POST BALANCE SHEET EVENTS There are no post balance sheet events to report. 30. CONTROL The charity 15 controlled by Its Trustees acting in accordance with the terms of the governing documents. 55
DORSET WILDLIFE TRUST Notes to the financial Statements For the year Ènded 31 March 2025 (continued) 31. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Group Company 2025 2025 £'D(K) £'OCKI 2024 £'ooo 2024 £'ooo Net income for the year Adju5tedfor.' Gifts in kind Losses/lgainsl on investments Net investment income Depreciation charges (Profit) on disposal of fixed 35sets Decreaselllncreasel in stocks Decreasellincre3sel in debtors IDecreasel/increase in creditors 1,902 8,529 1,893 8.535 11751 119 1137 150 61 771 313 11751 1191 11371 148 161 1771 317 11931 1521 121 61 28 11,3321 11931 1521 119 161 30 11,3091 640 622 32. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2025 £'ooo Companv 2025 2024 £'ooo 2024 £'ooo Cash in hand Cash for re-investment Total cash and cash equivalents 956 1.457 116 872 1,391 116 955 871 33. ANALYSIS OF CHANGES IN NET DEBT GROUP At start of Cash flows New finance leases other non- cash change5 At end of year year £'ooo £'ooo Cash Cash equivalent 1,457 116 15011 117 618 956 955 COMPANY At start of Cash flows year New rinance leases £'ooo Other non- cash changes £'ooD At end of vear £'ooD £'ooo £'ooo Cash Cash equivalent 1,391 116 15191 117 636 872 871 56
DORSETWILDUFE TRUST Notes to the linancial statements For the year ended 31 March 2025 Icontinuedl 34. DISCLOSURE OF COMPARATIVES FOR STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds Restricted Endowment Funds Funds Year ended 31 March 2024 £'ooo £'ooo £'ooo £'o(y) INCOME & ENDOWMENTS FROM: Donations & legacles Charitable 3Ctivitie5 Other trading activities Investments Other 2,455 274 214 79 27 8,138 1,493 10.593 1.767 214 92 li TOTAL INCOME li EXPENDITURE ON: Raising funds Charitable activitie5 Other 1,072 1.945 1.079 3,279 1.334 TOTAL EXPENDITURE NET IEXPENDITURE}IINCOME FOR THE YEAR BEFORE GAINS/(LOSSES) ON INVESTMENTS 32 8,298 8,336 Net gainsl Ilossesl on investments 13 193 NET INCOME 29 8.481 19 8,529 Transfers between funds 196 196 NET MOVEMENT IN FUNDS {1671 8,677 19 8,529 TOTAL FUNDS 8IFWD TOTAL FUNDS CIFWD 57