OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Registered Charity Number: 208123 Registered Company Number: 00645176

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

SURREY WILDLIFE TRUST

TRUSTEES’ REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Contents

TRUSTEES’ ANNUAL REPORT: FOREWORD FROM THE CHAIR, ANGELA SWARBRICK ................................................................................... 2 OVERVIEW FROM THE CHIEF EXECUTIVE, SARAH JANE CHIMBWANDIRA .......................................... 3 STRATEGIC REPORT ....................................................................................................................................................... 5 LEGAL AND ADMINISTRATIVE INFORMATION ............................................................................................... 23 STRUCTURE, GOVERNANCE AND MANAGEMENT .......................................................................................... 24 ORGANISATIONAL STRUCTURE AND OVERVIEW .......................................................................................... 25 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST .............. 26 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT .......................................................................................................................................... 30 BALANCE SHEETS ......................................................................................................................................................... 31 CONSOLIDATED CASH FLOW STATEMENT ....................................................................................................... 32 NOTES TO THE FINANCIAL STATEMENTS......................................................................................................... 33

1

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

FOREWORD FROM THE CHAIR, ANGELA SWARBRICK

This year has been one of the most challenging for us, as it has been across society, as we have dealt with the impacts of the Covid-19 pandemic. This has shown without any doubt the essential role the natural environment has to play in helping us to meet challenges of the future.

We welcome the convening of two international conventions in 2021, on biodiversity (COP15) and climate (COP26), and recognise the inextricable link between climate change and accelerating loss of biodiversity. In addition we are seeing the increased recognition of the role nature-based solutions can play in delivering better outcomes, not only for people but also for nature.

We remain committed to working with our communities and colleagues in the private and public sectors across Surrey. Only by working together will we be able to address the climate and biodiversity challenges facing us.

It is imperative that we take collective action now to deliver nature-based solutions across the county and reconnect people with nature.

As a Wildlife Trust we remain focussed on delivering positive outcomes for nature in Surrey, not only ensuring we have a diversity of species but also that those species are present in abundance. You will see from this report that despite the challenges we have still been able to achieve some exciting outcomes for nature, and with your help we will continue to fulfil our mission.

2

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

OVERVIEW FROM THE CHIEF EXECUTIVE, SARAH JANE CHIMBWANDIRA

In Surrey we are fortunate to have three national nature reserves and more than 60 nationally protected sites. We also have over 830 local wildlife sites, which are so important in creating the connections that nature depends on.

Not only are we the most wooded county in England with 24% woodland cover, but we care for 13% of the UK’s lowland heathland – a habitat that is globally threatened. Perhaps surprisingly, we also have incredibly diverse rivers and wetlands, with two major river systems, the Mole and the Wey, and wonderful opportunities for wetland creation and restoration on former mineral extraction sites. Our urban areas include more than 20,000 hectares of garden, and we have 21,000 hectares of accessible greenspace and 2,000 kilometres of footpaths.

However, along with the rest of the world, we are also in the midst of a number of different crises all coming to a critical point at the same time. Globally a million species are threatened; across the UK there is an ongoing trend of declining biodiversity; and here in Surrey our State of Nature Report shows a third of our species lost or in decline. We are starting to experience the impacts of climate change, with more severe and frequent wildfires, flooding and other events.

This situation makes it more urgent than ever to recognise the interdependence of our natural, social and economic systems, and to deliver solutions to these crises. Despite – or maybe because of – the challenges of the last year, we are seeing increased awareness of the importance of a healthy natural environment. 38% of adults reported that time in nature was the most important part of their day during lockdown. We now have a significant opportunity to be part of a green recovery, delivering nature-based solutions and providing jobs and business resilience as a result.

Over the last ten years in Surrey we have been developing a natural capital approach, recognising that natural assets provide us with a range of essential services but also that they are currently in decline. To enable nature to recover we must act to reverse this in both urban and rural contexts. For example, you may recently have seen the story of the giant sand martin bank we built at Spynes Mere, east of Redhill, with partners including Coast to Capital LEP, Sibelco and Chessington World of Adventures.

This kind of collaborative approach has led to a range of projects, from hedgerow planting and surveying across a number of sites to wetlands projects such as Kestrel Field at Rye Brook. This resulted in a 200m re-meander and new wetland implemented by partners the Lower Mole Project, local landowners and the community. We were also delighted with the success of our online Youth Action for Nature event, sponsored by the Surrey Hills Society and featuring speakers including Claire Coutinho (East Surrey MP) and Craig Bennett (CEO of The Wildlife Trusts).

3

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Surrey has such a rich natural and cultural heritage that we sometimes take it for granted. Whether we are walking through the Coronation Meadow at Sheepleas, famous for its display of our county flower, the cowslip, being thrilled at the site of red kites overhead, or experiencing clouds of small blue butterflies at Priest Hill, there is something for everyone in these special places. However, we do need to improve access for our less privileged communities.

We were delighted with the success of our many projects and campaigns this year, with one of the most notable successes being a huge range of online talks and events. Other highlights included a successful 30 Days Wild campaign, our work on Action for Insects and a landmark achievement by one of our ecologists. Mike Waite, SWT’s Living Landscapes, Policy & Research manager, found a mature male great fox-spider on an MOD site in Surrey. The species is critically endangered, redlisted and had not been sighted in the UK for more than 20 years.

Mike is part of Surrey’s long tradition of natural history recording, which is vital as we aim to reverse the devastating trends around us. We will continue to provide opportunities for people to develop their recording skills and to increase the number of citizen science projects we undertake.

Surrey Wildlife Trust has been around for 60 years, working with others to understand and care for these special places and the wildlife that lives here. It is more important than ever that we all act now, both as individuals and in our professional lives, to secure the future for nature which we depend on. We must ensure that nature’s part in the Surrey story endures, for the sake of our children and grandchildren.

4

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

STRATEGIC REPORT

Achievements 2020/21

Land Management and Projects

Land management and project activities were maintained despite the challenges presented by the Covid-19 pandemic with many SWT staff furloughed for significant periods and volunteering programmes suspended. Delivery was maintained through the year by prioritising land management staff to support grant-aided work and a greater use of contractors. Some volunteering work parties did take place when lockdown restrictions allowed, albeit in very limited numbers.

Project-based work is increasingly becoming a key means of delivering our overall strategy to recover nature in Surrey and is supporting both our direct and indirect land management activities. Despite the challenges and constraints of the pandemic, we were able to progress several externally funded projects.

Some additional challenges were presented due to a significant increase in the number of visits to all countryside sites, including SWT sites, particularly during the first lockdown.

SWT sites

Thundry Meadows and Dawcombe nature reserves were assessed by Natural England and both remain in favourable condition with future work to maintain and further enhance habitat planned. Blindley Heath was also confirmed in good condition, with monitoring of some areas being put in place to inform management.

At Howell Hill management has maintained the site as a fantastic example of good quality chalk grassland with excellent diversity and abundance of orchids. Nearby Priest Hill continues to develop both biodiversity and abundance of key species such as small blue butterfly and skylarks.

SWT sites within the Holmesdale Biodiversity Opportunity Area (BOA) also benefited as part of the naturally richer project detailed below. At Spynes Mere nature reserve an artificial sand bank to benefit nesting sand martins and bare-ground invertebrates bank was created. The work was overseen by a professional sand sculptor working alongside staff from SWT and the landowner, Sibelco. This particular project attracted national media interest with the press association picking up the story and the resultant reach has been to over 40 million people nationally.

Also at Spynes Mere non-native carp were removed by fisheries contractors assisted by students from Plumpton College. At Bay Pond detailed designs and ecological assessments were finalised in preparation for a new silt trap and wetland in Dobbs Field that will help address issues affecting the ecological integrity of the main pond.

5

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Thinning works were carried out at Graeme Hendry Wood to improve conditions for woodland flora and more than 800 metres of hedges were laid by a professional hedgelayer at Bay Pond and The Moors nature reserves.

Elsewhere on our reserves ongoing external funding from Network Rail funded woodland management work at Wallis Wood and hedgelaying and orchard tree planting at Pucks Oak Barn.

SCC sites

The first year of the new working arrangements with Surrey County Council to deliver conservation work on the council’s Countryside Estate saw good progress on the ground with some key habitat management works funded by DEFRA agri-environment grants.

At Chobham Common National Nature Reserve targeted habitat management was carried out in consultation with the Species Recovery Trust to benefit some of the site’s rarities including Marsh Clubmoss and the Window Winged Caddis Fly. A colony of the rare plant Deptford Pink was also discovered in a new location on the common and the Trust is liaising with Surrey Botanical Society and Plantlife regarding further monitoring and management work for this species.

Also at Chobham seasonal grazing in temporary electric fenced compartments continued in 2020 using SWT’s own Belted Galloway herd. Inevitably some disruption to this was caused by a significant wildfire in August 2020. A total of 30ha of the Common burnt in this major incident which involved the emergency services for several days.

This served to emphasise the importance of our planned programme of wildfire resilience-focussed habitat work. In early 2021 over 9ha of mixed dense scrub, consisting mostly of Common gorse, was removed from key parts of the site to increase wildfire resilience, improve emergency access and benefit open heathland species. Future work for wildfire resilience on all our heathland sites is being planned in consultation with Surrey Fire and Rescue, SCC and other land managers and landowners.

Other heathland management included work at Wisley and Ockham Commons to create further areas of bare ground for structural diversity of the dwarf scrub habitat and a range of heathland species, particularly invertebrates and reptiles.

Surveys for Nightjar, Dartford Warbler and Woodlark on sites across the Thames Basin Heaths recorded excellent numbers for all three species. Sustained heathland restoration and management together with a mild preceding winter are undoubtedly among the factors here.

A decision by the government on the proposed major infrastructure project around the M25/A3 junction development at Wisley and Ockham has been delayed. We have continued to work with Highways England and other organisations to maximise the compensation and enhancement works associated with the scheme, including the proposed construction of a “green bridge” across the A3 connecting areas of lowland heath historically severed by road construction.

6

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Elsewhere on the SCC estate we have delivered scrub removal and conservation grazing on several sites including Norbury Park, Whitmoor Common, Bisley and West End Commons and Hill Park.

At Norbury Park SWT and SCC staff have been liaising with the volunteer group there to develop an integrated conservation and access task programme for the volunteers. Across the estate we continue to work with the Lower Mole Partnership, Downlands Partnership, Butterfly Conservation and other partners on site management activities.

MoD sites

The heath tiger beetle was recorded at Pirbright Ranges/Folly Bog by the People’s Trust for Endangered Species. This is a possible indicator that bare ground levels/habitat conditions, which red deer are helping to create, are currently good for this species.

At Ash Ranges and Barossa habitat enhancement works took place over winter to clear scrub and there were good SPA bird numbers during summer 2020.

Projects

naturally richer

The naturally richer programme funded by the Coast to Capital Local Enterprise Partnership supported habitat restoration work on SWT nature reserves across the Holmesdale BOA. The various sub-projects serve to demonstrate the benefits of investment in “natural capital assets”. This included work at SWT reserves Spynes Mere, Bay Pond and Graeme Hendry Wood as detailed above.

A key component of naturally richer has been the creation of a natural capital account for the Holmesdale BOA and an accompanying register of sites showing where biodiversity net gain (BNG) can be achieved. The intention is that this will be developed as a tool for local planning authorities, developers and landowners to identify opportunities to deliver further habitat restoration.

A grant of £140,000 from the DEFRA’s Green Recovery Challenge Fund has supported the continuance of our conservation grazing operation across the county on both SWT and partner sites.

Although the start of our Preserving Surrey’s Hedgerow Heritage project, supported by the National Lottery Heritage Fund, was delayed, it very quickly and successfully engaged with a variety of audiences. Work with a number of schools in the project area, a series of webinars, Hedgerow Tales events and a creativity competition have all provided a strong basis for this four-year project that is focused in the North Downs. A bespoke app for surveying the condition of hedges has been designed for use by Hedgerow Heroes volunteers and this will inform future management plans.

A programme of hedge planting and hedgelaying with a number of landowners is being planned and will run through the autumn and winter months throughout the project.

7

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The work to rejuvenate hedgerows and establish new hedges will support an increase in essential habitat for pollinating insects - a key theme of our developing Bees Bugs and Butterflies programme.

Throughout the year we have been developing projects under this banner including our Empowering Communities and Wilder Schools projects as well as engaging with local authorities about future management of road verges and public open spaces. We look forward to developing this work further with partners across the county.

River Catchments

The Trust’s hosting of both the Wey Landscape Partnership and the River Mole Catchment Partnership continued in 2020-21.

In the Mole catchment a £70,000 project to re-naturalise a section of the Rye Brook near Leatherhead was made possible with funding from Environment Agency, Mole Valley District Council and the Lower Mole Countryside Trust. The project, which is the latest phase of the Rye to Good programme, was delivered by the Lower Mole Partnership working with specialist contractors and supported by SWT and the South East Rivers Trust.

The end result is a new wetland and a re-meandered channel that has significantly diversified the instream and floodplain habitat and is a testament to effective partnership working.

In the Wey catchment liaison with landowners and consultants continued as part of the Environment Agency funded work to finalise technical designs for the removal of barriers to fish passage on the Tillingbourne at Shalford.

Also in the Wey our Thames Water-funded community rivers project in Cranleigh Waters saw progress with technical designs and stakeholder engagement that will be the foundation for restoration work in 2021-22.

A first Surrey Rivers webinar was held in March 2021 and brought together both the catchment partnerships for a programme of online talks and discussion. This included a keynote talk by Alistair Driver of ReWilding Britain and a whole series of case studies from the Mole and Wey catchments. Around 80 attendees joined us for this virtual event which we hope will now become a regular fixture.

During the year the Trust’s ecological consultancy, SWT Ecology Services, provided expert ecological advice on a wide range of projects for landowners, developers and local and national government. The team worked on around 200 projects providing habitat design, pre-planning advice, ecological surveys, habitat and environment management plans through to post-project compliance and monitoring.

8

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Inspiring Others: Engaging People

Education

This year in response to the Covid-19 situation and repeated lockdowns, education staff were largely furloughed until the end of July 2020. We took this opportunity to pause and re-assess our direction of delivery reflecting on the approach to offer repeat engagement and test a new focus on how to empower schools and communities further to take action for wildlife in Surrey

During this time we were able to develop our Covid risk assessment, review our activities and run a successful and Covid-compliant holiday club and members’ days throughout August. These proved to be popular and a great way to connect with our members and see the enthusiasm for nature that had been built during lockdown. Open days with self-guided trails and staff-led activities gave our members a chance to engage and explore Nower Wood safely.

The relaxing of some restrictions allowed us to see schools at Nower Wood in the autumn term and run our weekly forest school at Bay Pond. Birthday parties resumed with restrictions on numbers and limited all visitors to outside activities only, we also ran another holiday club in October half term which was fully booked.

From 1 November the team returned in full and started to test our new approach that we had been developing; of taking action for nature with school children and working with teachers to deliver outdoor learning in their school grounds. We kick started the new Wilder Schools approach with assemblies and building relationships with key staff. By February we engaged 17 schools to test the work in greater depth and we have already achieved hedgerow planting, creation of no-mow areas, construction of minibeast hotels and planting of pollinator pit stops. We have run habitat sessions as well as flower and pollinator surveys, meadow studies, minibeast hunts and pond dipping in school grounds and engaged children with forest school style activities too. We have provided school grounds advice and are now developing INSET training for the teachers and encouraging them to put forward staff for our Leader in Outdoor Learning courses and Forest School training.

Despite a second lockdown we were able to continue to work with schools in person until December delivering assemblies on Action for Insects and outreach sessions on assessing habitat condition of school grounds to generate ideas of how we could work together to improve them.

As Christmas approached we revised our activities to be largely self-guided wildlife and seasonal trails and crafts around the wood and engaged with over 100 children and their parents.

From Christmas onwards, the pandemic lockdowns affected how we could work with schools, so we decided to take our events and activities online. We started a weekly online nature club for children presenting them with fun and informative wildlife themed sessions from late January onwards. The benefit of online engagement was that we did not have to limit numbers and people could watch them after the event. We were able to set seasonally appropriate crafts and actions for the children to take action to help nature. Families emailed in photos and pictures of the children doing these, so

9

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

more than ever before we have seen the impact of what we do. These actions have included joining a toad patrol, taking part in the big birdwatch, making bird feeders, leaving no mow areas, planting seeds etc. Feedback from parents and teachers on the value of these sessions has been incredible.

Continuing to adapt to digital delivery, we ran several other virtual events (Day of the Dinosaurs had over 100 families sign up) in late March including a virtual youth summit which had a celebrity speaker (Cel Spellman) as well as MP Claire Coutinho, Sarah Jane Chimbwandira and Craig Bennett. We had over 170 sign-ups for this event and we sent the recording out to secondary schools across Surrey as well as TWT. 130 further views of the YouTube video have included school showings so our reach has been far greater than previous face to face events. The money we saved has been used to fund Action for Nature projects in secondary schools in Woking, Cheam and Croydon with pending projects in Reigate, Oxted and another in Croydon. Projects include wellbeing gardens, transforming hard landscaped areas into wildlife-friendly areas and a pollinator project which has included small ponds, no-mow areas and planting a diverse range of nectar-rich plants.

Lifelong Learning

Adult learning continues to provide a great shop window for the Trust and allows attendees opportunities to learn about a broad range of topics from climate change to willow weaving. We took the opportunity to adapt during this year and take some of our courses online. These were well received and offered learning and connection to wildlife at a time where most of us were very isolated. As restrictions eased, we started to deliver some face-to-face courses as many were suited to outdoor delivery while following strict Covid-secure guidance

Development of our Forest School and Leader in Outdoor Learning training courses has been done in conjunction with our new approach for schools and it is part of the journey to pass on our skills and expertise to teachers and leaders. This helps to embed learning within the school environment so that teachers can continue to take action for wildlife with their students without us needing to ‘hand hold’. This gives us greater reach and delivers our key mission.

We have started planning how to develop Bay Pond as a community nature hub to offer training and engagement opportunities for the local community. Initially we are focussing on wildlife gardening. The small wildlife garden on site is being extended and staff are working with the local community to create an accessible space and green corridors throughout the local area. We are continuing to consult and work with the local community to identify support, knowledge and training needs.

Empowering Communities

For a large proportion of the year we suspended all volunteering at the Trust in line with guidance to protect our staff, volunteers and local communities. We held online updates and webinars with our volunteers and voluntary wardens to keep them informed of the work that was going on and other updates about the Trust and their sites and areas of work. The small group of volunteers involved with cattle lookering continued throughout this time due to the need to fulfil animal welfare requirements.

10

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

This break from the practical work gave staff the opportunity to link with key environmental interest groups within our BOA areas and work with them to test the new approach for empowering communities. SWT is looking at developing a suite of toolkits around subjects such as leading volunteer groups, habitat creation and management, species ID, working with local and parish councils, and fundraising. We are initially working with around 20 groups to develop these toolkits along with learning resources and training. We aim to empower them to take action in their local communities with our support where needed. We will look to develop this network so members can connect and learn from each other.

Membership and Fundraising

Membership

In FY20/21 just over 1,500 members joined the Trust which was significantly down on previous years due to the Covid restrictions preventing face-to-face recruitment for almost the whole year. Face-toface recruitment was expected to account for 1,500 memberships in the year but only generated 350 memberships during the short period between August and December when restrictions were eased sufficiently to allow our recruiters to work.

Despite expectations of high attrition, there was only a 30% drop in the number of cancellations compared to the previous year. This helped to achieve growth in overall memberships from 14,263 in FY19/20 to 14,470 in FY20/21.

To combat the lack of face-to-face recruitment, two half-price sales were run during the year: a summer sale in July and August and the usual January half-price sale. In addition, national advertising by TWT as part of the 30 By 30 campaign and a Christmas gift membership incentive also attracted new members. As a result, memberships via the website increased 66% compared to the previous year and accounted for 75% of all memberships recruited. The team worked successfully with the marketing and communications staff to maximise increased opportunities for digital recruitment.

Grants Fundraising

Despite the ongoing pandemic, we have completed the Coast to Capital-funded naturally richer project in Holmesdale. A total of £32,350 grant awarded match funding for the project was secured.

We have made great progress undertaking National Lottery Heritage Fund-supported Preserving Surrey’s Hedgerow Heritage project.

Three applications were submitted to the National Lottery Heritage Fund/Defra Green Recovery Challenge Fund. We were awarded one grant for our project Sure-footed Conservation: Safeguarding Conservation Grazing in Surrey, which totalled £139,800.

11

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

We were successful with our application to the National Lottery Heritage Fund’s emergency funding programme, which was launched during the first lockdown, and secured £48,900 in support of reserves management, infrastructure and Covid transition costs.

An application was also submitted to the Natural Environment Investment Readiness Fund to establish a natural capital investment company for accelerating delivery of habitat banks.

Corporate Fundraising

Corporate partners were offered a fixed period payment holiday and consequently all but two were able to retain their memberships; with new companies joining us income was slightly up on the previous financial year and we retain a solid support base within the business community. Some funding pots are inevitably more restricted – some have disappeared entirely, and some companies have seen large numbers of redundancies, often within the corporate responsibility department, which will lead to contacts and relationships having to be rebuilt over the coming years.

Companies invested in the Coast to Capital project, both financially (contributing to the cost of the sand martin bank) and through time, labour and equipment, which equated to £18,000 (donated by Sibelco and recorded as gifts in kind). An environmental undertaking that had originally been applied for a number of years ago was finally received during the period – a donation of £23,476 for education. Smaller amounts were received to cover the webcam at Nower Wood, volunteer tools and training, heathland restoration and as prizes for the Cutting Hedge competition. Inevitably, with no Pine and Dine or new projects, corporate income was down on the previous year and funding for projects such as Thundry Meadows and the education intern have been carried over to 2021-22. Total income received (not carried over) was approximately £92,000 (including gifts in kind).

Communications and Events

With the rise in the use of digital platforms, media coverage this year has been incredible. With more broadcast media than ever before SWT media reach stands at over 221 million. From Countryfile to BBC News, Channel 4 to Radio 4 and BBC News to Newsround, SWT has successfully penetrated both national and regional broadcast media giving us an enviable reach for a charity of our size. The Great Fox Spider became a household name with an international reach, which was very rewarding for all of those involved in preparing and selling in the story, including TWT media staff.

Social media has also seen an incredible increase in engagement of 70% from 2019, with Instagram outperforming all other platforms. The increased amount of quality content produced by Trust staff, such as reserve guides and family activities greatly contributed to this rise, as well as the fact that people had more time to view in lockdown and there was a thirst for nature content. Campaigns and events online such as 30 Days Wild, Virtual Heath Week and Virtual Rivers Week also increased engagement figures.

12

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

It was a record year for participation in 30 Days Wild both nationally and locally. There were no postal packs due to Covid, so TWT spent more on Facebook advertising. We persuaded David Lindo (under lockdown in Spain) to head up our own Facebook advertising campaign, as well as vloggers Sophie Pavelle and Sustainable Stephanie. This was our most successful video so far. 3,639 people signed up in 2020 (compared with 2,116 in 2019) – a 72% increase.

53 memberships were taken out directly following the campaign – the most of any other of the 46 Trusts, with hundreds more opting in for further contact. In the post-campaign survey, a very high percentage felt happier, healthier and more likely to take action for nature.

For the greater part of the year, all events were put on hold and event staff put on furlough. However, once out of furlough, staff lost no time in developing their expertise to deliver online events with the first major online event being the AGM. This was followed by the development of a schedule of online evening talks and coffee mornings that has been incredibly popular with members, volunteers and people new to the Trust. Talks have been given by Trust staff, staff from other Trusts and celebrity speakers. They have also generated a considerable amount in donations.

Plans for the future 2021/22

Land Management, Projects and Partnerships

The reserves management department has had a high level of staff movement relative to its size. This has now settled down and recruitment for several posts is underway. There has also been a finalisation of a new organisational structure that combines the area-based approach with a centralised work programme to ensure consistency across the trust.

Our project-based approach will continue to develop further and be embedded across the organisation; in doing so we will be looking to strengthen and deepen partnerships with a range of other organisations and landowners.

Piloting and trialling various workstreams within the Bees, Bugs and Butterflies programme will continue, with a focus on providing more connected habitat for insects. A partnership with the Royal Surrey Hospital in Guildford will see the creation of a wildflower meadow and other wildlife enhancements in the environs of their recently established Covid ward. As well as providing new wildlife habitat the project will have wellbeing benefits for patients and hospital visitors and serve as a demonstration for how public spaces can be managed differently.

Alongside this we will be carrying out further engagement with local authorities to influence the management of their road verges. We have been heartened by how several councils are starting to review their mowing regimes to benefit wildflowers and insects and we are seeking to build momentum for wholesale change in this area across the county.

We will also be continuing to work with the farm cluster group in the North Downs to support work on pollinators and will be implementing the Hedgerow Heritage project on the ground with five

13

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

landowners across the project area. Here we will be laying and planting hedges with volunteers as well as continuing the engagement work with range of audiences to highlight and celebrate the importance of healthy hedgerows.

In Holmesdale, another of our priority Biodiversity Opportunity Areas, we will be building on the platform of our naturally richer project to work with others on opportunities for wildlife enhancements on their land through future funding streams.

Our wetland work will include designs for projects that showcase how restoring natural processes can provide local natural flood management. This includes a wetland creation scheme on a farm on the Pipp Brook and a potential mire restoration project on the Wishmoor Stream on Barossa nature reserve.

Work with the Wey and Mole Catchment Partnerships will see the management plans for those catchments move to an online Storymap platform. We will also be producing a short animation about the issues affecting Surrey’s rivers to support work with community groups, schools and other organisations.

It is important that we have robust processes for bringing forward new projects and monitoring progress with existing projects. Staff and Trustees have developed a set of internal processes for project submission, assessment and prioritisation. This will inform future project development and delivery across the organisation.

The Trust will also develop its strategy for nature-based solutions; actions to protect, sustainably manage and restore ecosystems that address the biodiversity, climate, societal and economic challenges we face whilst providing abundant biodiversity. In particular this will focus on biodiversity net gain (BNG); from 2023 there will be a requirement for a minimum of 10% BNG to be achieved on all development. The Trust believes BNG can contribute to nature recovery in Surrey if applied well – although we believe the minimum requirement should be 20% BNG and will continue to lobby for this. We will work with landowners, developers and local authorities to help identify the most appropriate locations for BNG to be applied offsite and work closely with partners to create BNG in development by applying the mitigation hierarchy. We will also start to explore how other naturebased solutions such as carbon restoration and natural flood management can help restore nature in a sustainable way.

Inspiring people

This year has helped us start the journey on developing a new approach to align with TWT’s Team Wilder strategy to influence and engage one in four people taking action for wildlife. Our opportunity to refocus has brought new opportunities and connections deeper within communities to help empower and support.

14

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

We will be continuing to test and learn from our new approach whilst consulting with our various audiences so that we can offer toolkits and learning for people to take action for Surrey’s wildlife in their own patch at home or in their community.

We will do this by continuing our work with Wilder Schools and Empowering Communities and helping to feed them both into a robust nature recovery network across the county.

We will be further developing our strategy and aims to engage and empower one in four of Surrey’s residents to take positive action for natures recovery, contributing to our national and local goal of 30% of land and sea in recovery for nature by 2030.

Digital connections to the Trust have been and will remain important. We have seen the value of using various digital platforms to reach diverse audiences. A hybrid mix going forward will help to balance accessibility with the need for hands on connection to wildlife. As we start to return to a ‘new normal’ we must be innovative and creative in our thinking and delivery.

We will also look at our focus on youth engagement and career pathways into the green sector – and how we can contribute in this area. Virtual careers days, talks, accessible work experience placements and internships are all being explored as part of our commitment to being a Cornerstone Employer. We will work with our networks and the wider business community to make sure that young people have access to the career opportunities they need for this sector.

Volunteering will be assessed and refreshed over the coming months to look at more accessible options to encourage a wider variety of options and experiences. We will continue to develop further projects for volunteers to become more involved in our target BOAs, while supporting our existing volunteer opportunities.

We also look forward to continue to develop our education programmes in light of new habits and activities that have arisen from Covid-19 within schools in line with government guidance. Connection with nature is at the heart of what we do and supporting the mission of the Trust through education is our driving force. Repeat engagement and a deeper connection and relationship with schools through Team Wilder is a goal we are developing through this next year.

At the heart of our engagement work lies the ambition to take people on a journey from first connections with nature through to recognising its value and taking action for Surrey’s wildlife. We will continue to develop innovative, productive interactive relationships with the widest possible range of people in order to achieve this.

Financial Review

The key components of the Trust’s financial strategy are to deliver its mission supported by diversified income streams, careful management of financial risks and liabilities, maintaining liquidity and safeguarding assets. The Trustees have aimed to diversify sources of income so as to limit

15

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

exposure to risk and to take advantage of new opportunities particularly where they generate income and deliver mission. The Trust will continue to invest in growing income in three key areas:

Surrey County Council Agreement

In August 2020, after an 18-month negotiation agreement was reached with SCC to revise responsibilities under the 50-year 2002 agreement for the management of the SCC estate. Under the revised agreement each party focuses on its strengths and core interests: SWT is responsible for managing conservation and wildlife focussed engagement whilst SCC is responsible for managing public access, commercial income generation and property management.

When agreement was reached it was anticipated that the Sawmill would revert to SCC in November 2020. SWT agreed to temporarily continue to manage the business of the Sawmill for SCC whilst they assessed options for the Sawmill and the site on Norbury Park. However, despite the best efforts of the hard-working team the Sawmill was not sustainable without further ongoing support from SCC and therefore the business was closed on 30 April 2021. As a result eight staff were made redundant and the Sawmill site reverted to SCC.

Financial outlook

Brexit

The new 25-year Environment Bill is a positive start but must deliver long-term environmental benefit. A new Environmental Land Management (ELM) regime is being developed to replace existing EU schemes, but the nature of those schemes has not been finalised. Funding from existing

16

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

agri-environmental will remain unchanged until 2024 at which point the UK will start to transition to the ELM regime.

Covid-19

The Covid-19 pandemic had a substantial impact on the Trust’s activities in the 2020/21 financial year. Action was taken early to curtail programmes, including all face to face education, volunteering and membership recruitment and reduce expenditure to maintain cash flow. Funding of £363,000 from the government’s Coronavirus Job Retention Scheme was utilised to help secure jobs during the pandemic and will help the Trust transition through the post-Covid period. Trustees also invested in maintaining key income streams including membership and ecological consultancy. As a result the Trust generated a surplus in 2020/21 and did not have to utilise its financial reserves. However, the combination of likely economic recession, further Covid-19 waves and Brexit mean the future is far less certain and it expects to utilise some of its financial reserves to support it through this period. During 2021 the Trust has refocussed its strategy for delivery of the mission and is developing a three-year financial plan to support it.

Going Concern

In light of the Covid-19 pandemic and likely ensuing recession detailed cash flow projections have been prepared for the period to 31 March 2023 to ensure the Trust remains a going concern. The projections take into account the direct impact of Covid-19 on the Trust’s activities, such as curtailment of engagement due to social distancing as well as risks to income and costs. Transition and investment costs that may arise out the review of activities have also been taken into account. Unrestricted cash reserves and committed facilities have been judged sufficient to ensure the Trust remains a going concern during the 18 months to 31 March 2023 and can fund transition costs as required to ensure it remains financially viable for the long-term.

Principal Sources of Income

The Trust’s activities are funded from a broad-based set of income streams. These include:

17

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted income decreased by £1,732,650 to £4,587,288. This was largely a result of commercial and property income of £1,123,000 arising from the SCC estate reverting to SCC, lower legacy income of £350,000 and the impact of Covid on income generation of £470,000. Set against this grant income from the government’s Coronavirus Job Retention scheme of £363,000 has enabled staff to be retained and secure the finances of the Trust this year. Restricted income fell by £230,960 to £549,320. Income earned across all funds was £5,136,608.

Expenditure

Expenditure fell from £6,421,413 to £4,707,512 largely as a result of varying the contract with SCC and the impact of Covid-19. The reversion of commercial activities and public access management to SCC led to lower costs of £1,258,000. The pandemic meant that engagement activities including education, volunteering and face-to-face recruitment were curtailed through most of 2020/21 and also meant much of the land management winter works programme was deferred to 2021/22; the combined reduction in expenditure was £389,000.

However, a number of programmes and activities did continue where possible during FY20/21 these included some work on Hedgerow Heritage, consultancy and online education and engagement.

An unrestricted surplus of £279,339 was made. A surplus of £109,315 was made on restricted funds which will be expended on restricted projects over the coming 18 months.

Reserves

The Trust’s financial reserves totalled £6,919,128 at 31 March 2021 an increase of £388,658 over the previous year. The Trust’s funds comprise:

Restricted Funds: The Trust has a number of restricted funds where the donor has restricted the purpose for which the funds can be used. At 31 March 2021 the total of such funds was £1,747,544.

Designated Funds: The Trustees have set aside unrestricted funds totalling £940,000 in a Strategic Projects and Investment fund which will be used to support mission projects during the course of the current five-year strategic plan. Plans will be made for the application of these funds during 2021/22. A further £66,000 has been set aside for investment in capital equipment in 2021/22. The funds used to purchase fixed assets are set aside as designated funds as these assets are not liquid funds available to support day-to-day operations. These comprise nature reserves at a cost of £524,505, which are held as part of the charitable objects and premises, vehicles and equipment at net book value of £1,572,146 which are required to deliver the mission.

Following the disposal of the investment property during the year a fund for the refurbishment of the Pirbright head office of £310,000 has been created which will enable much needed improvements to the working environment, IT infrastructure and adapting for Covid-19 social distancing and homeworking requirements. A further £604,000 has been allocated to a Covid-19 working capital fund to ensure the Trust retains sufficient funds during the pandemic and recession. At 31 March 2021 designated funds totalled £4,016,651

18

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Free reserves: These are the readily realisable funds comprising unrestricted net current assets less liquid funds designated by the Trustees for specific purposes or projects. The total of free reserves at 31 March 2021 was £1,154,933.

Results of Trading Subsidiaries

During the year Norbury Park Wood Products (NPWP) made a profit before tax and gift aid payments of £29,583. At 31 March 2021 reserves were £47,528. The sawmill which is the sole business of NPWP was closed on 30 April 2021 in agreement with SCC. The results disclosed above include the results of trading through to 30 April 2021.

SWT Enterprises made a profit before tax and gift aid payments of £nil. At 31 March 2021 reserves were £nil after payment of gift aid to the Trust of £1,121. SWT Enterprises became dormant on 31 March 2021.

SWT Ecology Services made a profit before tax and gift aid payments of £122,685. At 31 March 2021 reserves were £72,685 after payment of gift aid to the Trust of £193,311.

In June 2021 gift aid payments were made by the subsidiaries to the Trust totalling £103,685.

Reserves Policy

The Trust’s cash flow is highly variable during the financial year with a significant proportion of funds being received towards or after year-end. As a result, the amount of unrestricted cash within free reserves can vary by up to £800,000 during the year. Sufficient unrestricted cash needs to be available to ensure that the Trust can continue to meet its commitments to staff, funding and contract partners and statutory bodies should such cash flow volatility or a decline in income or increased cost occur.

Therefore, the Trustees have set a reserves policy that requires unrestricted cash reserves and committed bank facilities rather than total free reserves to be maintained at a minimum level.

Based on a detailed risk analysis the Trustees have set the minimum level of unrestricted cash and committed bank facilities at £350,000. Unrestricted cash and committed facilities at 31 March 2021 totalled £1,486,208 comprising cash at bank of £1,136,208 and a five-year committed bank facility of £350,000 which will ensure that the minimum requirement is met on an ongoing basis. The Trustees set the reserves policy annually by assessing working capital requirements and specific risks facing the organisation. In setting the minimum level of unrestricted cash and committed bank facilities the likelihood of an event causing several linked risks to crystallise is taken into account.

The risk register is reviewed regularly through the year and the impact of changes or new risks on the reserves policy is evaluated and action taken as required.

Principal Risks and Uncertainties: Risk Management

Trustees meet annually to assess the risks facing the organisation and to set the risk strategy. Taking account of mitigating controls, risks are assessed and scored according to their environmental, financial, health and safety and reputational impact and the likelihood they will crystallise. Further

19

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

mitigation will be undertaken to reduce residual risk where appropriate through the execution of the annual operational risk management plan. Trustees monitor risk and the delivery of the operational risk plan at bi-monthly Trustees meetings.

The six principal risks and uncertainties on the organisation’s risk register, taking into account the controls and safeguards already in place, are:

  1. The Trust is responsible for ensuring that staff, volunteers and visitors have safe access to the land it manages. Notwithstanding its health and safety and safeguarding procedures the Trust manages a natural environment in which accidents can happen due to unforeseen circumstances, for example adverse weather.

  2. Unforeseen issues can arise on land the Trust manages meaning that it is ceases to be compliant with major grant schemes or other statutory responsibilities. This can result in major expense in performing remedial works. The Trust works closely with land agents and other advisors to minimise the risk in this area.

  3. A sustained decline in income or increase in costs resulting from economic, contractual, reputational or environmental factors could undermine the financial sustainability of the organisation. The Trust is actively working to reduce its dependence on public funds and broaden its income base.

  4. The Covid-19 pandemic and the resulting recession will have a significant impact on the Trust’s finances. As stated above the Trust is reviewing its activities and finances to ensure that it is financially sustainable for the long-term and able to deliver its mission in the most effective way.

  5. Post-Brexit there could be a significant impact on both the financial sustainability and the delivery of the Trust’s conservation mission. The risks are that:

    • a. The Environment Bill will not provide sufficient legislative protection for wildlife,

    • b. New agri-environmental funding will not provide sufficient support for wildlife friendly farming and habitat improvement projects across Surrey, including those that significantly benefit heathland, woodland and river catchment environments,

    • c. The UK economy will enter a period of uncertainty which will have a significant impact on funding from the Trust’s strategic partners and on the ability of the Trust to generate income to fund its conservation and education mission.

  6. The Trustees continue to evaluate the potential impact of these risks in combination with its Covid-19 planning. Strategies are being developed and executed to ensure the continuation of the mission including working with partners to ensure the protection of wildlife and the environment for the people of Surrey.

  7. The loss of key employees or a reduction in wellbeing resulting in diminished performance of the people delivering the Trust’s Living Landscapes mission.

These risks and associated operational impacts were satisfactorily managed during the year.

20

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Remuneration Policy

The Trustees review remuneration for senior management annually as part of the budgeting and performance review process. Remuneration is set by considering the financial constraints of the charity, benchmarking against other wildlife trusts and other organisations where possible and performance criteria.

Investment Policy

The Trust’s Memorandum and Articles of Association provide the power to make investments. Accordingly, the Trust will invest surplus funds, defined as cash not required for day-to-day liquidity management or short-term funding of strategic projects in investments that have a direct or indirect credit rating no lower than the UK government including with individual banks to the level protected by the Financial Services Compensation Scheme. A low risk approach is taken to investment to reduce exposure to market fluctuations on capital value and bank failure and to maintain liquidity.

Public Benefit

The aims and benefits of SWT are contained in the main body of the Trustees Report under Objectives and the Strategic Report. The Trustees have considered the key principles of The Charity Commission’s general guidance about public benefit and have concluded that the Trust meets all requirements.

Fundraising Standards Board

The Trust fundraises directly from the public and uses third party agencies to fundraise on its behalf for specific campaigns. This included third parties for recruiting new members through face-to-face fundraising and through telephone fundraising. The Trust has agreements in place with its partners to ensure that the legal requirements regulating fundraising practices are adhered to.

The Trust and its third party agencies comply with the Fundraising Regulator’s Code of Fundraising Practice. The Trust monitors adherence to the code by its third party agencies which includes making welcome calls made to new members. The Trust and its third party agencies follow the sector’s guidance on protecting vulnerable people. During the year no complaints were received that required further action to be taken.

Auditors

Following good governance practice the Trustees have decided to rotate auditors for the year ended 31 March 2022. The Trustee Finance and Audit Committee has led the selection process and selected Saffrey Champness LLP. The full Trustee Board approved this proposal on 27 September 2021. A resolution approving the appointment of Saffrey Champness LLP will be proposed at the forthcoming Annual General Meeting.

Trustees’ Responsibilities

The Trustees (who are also the directors of SWT for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with

21

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and the application of these resources, including the full income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Report of the Board of Trustees (including the Strategic Report) to the Members was approved by the Board of Trustees on 27 September 2021 and signed on their behalf by:

Angela Swarbrick

Gerry Bacon

Trustee and Chair

Trustee and Treasurer

22

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

The Trustees serving during the year and since the year end were as follows:

Gerry Bacon Treasurer Nick Baxter Vice-Chair Andrew Beattie Jason Gaskell Christine Howard Ian Smith (resigned 20.2.2021) Peter Smith Peter Sutton Angela Swarbrick Chair Mark Turner Gordon Vincent (retired 14.11.2020) Pam Whyman

The Trust Leadership Team

Sarah Jane Chimbwandira Chief Executive James Adler Director of Biodiversity (until 31.12.2020) Aimee Clarke Director of People Engagement James Herd Director of Reserves Management (from 1.4.2021) Andrew Jamieson Director of Partnership and Project Development Catherine Roberts Director of Human Resources and Support Services Roger Wild Director of Finance and Nature Based Solutions Company Secretary Roger Wild Registered Office School Lane, Pirbright, Woking, Surrey, GU24 0JN Auditor Menzies LLP, Centrum House, 36 Station Road, Egham, Surrey, TW20 9LF Bankers Bank of Scotland, St Andrew Square, Edinburgh, EH2 2YR Website www.surreywildlifetrust.org

23

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Surrey Wildlife Trust (SWT, the Trust) is a registered charity (No: 208123) and a company limited by guarantee (No: 00645176). SWT is constituted through its Memorandum and Articles of Association, the current version of which was approved by the members on 9 November 2019. The Trust, established in 1959, is the only charity dealing with the conservation of all forms of wildlife in Surrey.

Trustees and directors

The Trustees constitute directors of the charitable company for the purposes of the Companies Act 2006 and Trustees of the charity for the purposes of the Charities Act 2011. As set out in the Articles of Association, the Council comprises between three and fifteen trustees. New Trustees are recruited to meet identified skills gaps and their positions are confirmed at Annual General Meetings. New Trustees undergo an induction during which they meet key employees and receive a briefing on the objects of the charity, their legal responsibilities as Trustees, decision making processes, recent financial performance and business plans. Trustees meet at least six times a year to consider SWT’s strategic direction and governance. Additionally, four subcommittees specifically address financial and educational matters, executive remuneration and Trustee recruitment.

OBJECTIVES

SWT exists to protect and enhance the habitats of Surrey and the wildlife they support. We do this for both the inherent value of wildlife but also to create a county where both people and wildlife thrive alongside each other. SWT is founded upon the following objects:

For the benefit of the public, the advancement of environmental protection, improvement and accessibility of:

For the benefit of the public, the advancement of education in:

For the benefit of the public, the advancement of science and natural heritage:

Vision

The Trust’s vision is for a Living Landscape in Surrey that is rich in wildlife and valued by all.

24

SURREY WILDLIFE TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

ORGANISATIONAL STRUCTURE AND OVERVIEW

For day to day management SWT is organised into five departments based at the Head Office in Pirbright:

The five departmental heads form the senior management team, termed ‘The Trust Leadership Team’, under the guidance of the Chief Executive, who reports directly to the Trust’s Chair of Trustees.

Trading Subsidiaries

The Trust has three trading subsidiaries, Norbury Park Wood Products Limited (NPWP), SWT Ecology Services Limited and SWT Enterprises Limited. SWT Ecology Services Limited is active and provides ecological consultancy services. SWT Enterprises Limited traded during the year providing wood products but became dormant on 31 March 2021. NPWP traded during the year providing woodland services and wood products. NPWP ceased trading on 30 April 2021.

The Wildlife Trusts

SWT is an active member of The Royal Society of Wildlife Trusts (RSWT), which operates as an umbrella body for the 47 individual Wildlife Trusts, covering the whole of the UK, the Isle of Man and Alderney. RSWT is itself a registered nature conservation charity (charity number 207238), based in the UK and incorporated by Royal Charter.

Today RSWT is more commonly referred to as 'The Wildlife Trusts' (TWT), and operates as a shared services body for all 47 Wildlife Trusts. All the trusts contribute an annual levy to fund advocacy and representation by TWT at national and international levels.

25

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST

Opinion

We have audited the financial statements of Surrey Wildlife Trust (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance 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 concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability 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 Trustees with respect to going concern are described in the relevant sections of this report.

26

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST FOR THE YEAR ENDED 31 MARCH 2021

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report including the Strategic report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the 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 financial statements that are free from material misstatement, whether due to fraud or error.

27

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST FOR THE YEAR ENDED 31 MARCH 2021

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

28

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SURREY WILDLIFE TRUST FOR THE YEAR ENDED 31 MARCH 2021

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's 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 company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Janice Matthews FCA (Senior statutory auditor)

for and on behalf of

Menzies LLP

Chartered Accountants Statutory Auditor Centrum House, 36 Station Road Egham Surrey TW20 9LF

Date:

29

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations, legacies &
membership
2
Charitable activities:
3
Conservation
Land management
Education
Other trading activities
4
Investments
5
Total
Expenditure on:
Raising funds
7
Charitable activities:
8
Conservation
Land management
Education
Total
Net gains/(losses) on investments
Net income
Transfers between funds
Net movement in funds
Funds brought forward at 1 April
Funds carried forward at 31 March		 Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
1,512,543
51,939
1,564,482
1,912,809
831,994
395,263
1,227,257
1,114,956
1,402,294
88,863
1,491,157
2,038,322
162,482
13,255
175,737
660,343
632,917
-
632,917
1,353,292
45,058
-
45,058
20,496
4,587,288
549,320
5,136,608
7,100,218
1,167,786
7,200
1,174,986
1,972,291
1,023,338
442,108
1,465,446
1,318,277
1,411,003
21,117
1,432,120
2,394,606
593,952
41,008
634,960
736,239
4,196,079
511,433
4,707,512
6,421,413
(40,438)
-
(40,438)
3,939
350,771
37,887
388,658
682,744
(71,432)
71,432
-
-
279,339
109,319
388,658
682,744
4,892,245
1,638,225
6,530,470
5,847,726
5,171,584
1,747,544
6,919,128
6,530,470

· All of the above results are derived from continuing activities.

· All gains or losses are recognised in the year and are included in the Statement of Financial Activities.

30

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

BALANCE SHEETS AS AT 31 MARCH 2021

Note
FIXED ASSETS
Heritage assets
14
Tangible and intangible assets
15
Investments
16
CURRENT ASSETS
Stocks
17
Debtors
18
Investments
19
Cash at bank and in hand
Less creditors due within one year
20
NET CURRENT ASSETS
Total assets less current liabilities
Less creditors due in more than one year
21
NET ASSETS
Represented by:
Restricted funds
22
Designated funds
23
Free reserves
TOTAL FUNDS		 2021
2020
2021
2020
£
£
£
£
638,535
638,535
638,535
638,535
1,572,146
1,669,088
1,572,146
1,669,088
1,656,000
1,370,000
1,656,004
1,370,004
Group
Charity
3,866,681
3,677,623
3,866,685
3,677,627
143,537
259,159
143,537
148,231
1,742,317
1,971,267
1,544,458
1,884,306
510,000
482,984
510,000
482,984
1,651,348
1,534,611
1,625,477
1,500,601
4,047,202
4,248,021
3,823,472
4,016,122
985,284
1,364,391
881,773
1,294,875
3,061,918
2,883,630
2,941,699
2,721,247
6,928,599
6,561,253
6,808,384
6,398,874
9,471
30,783
9,471
30,783
6,919,128
6,530,470
6,798,913
6,368,091
1,747,544
1,638,225
1,747,544
1,638,225
4,016,651
3,999,593
4,016,651
3,999,593
1,154,933
892,652
1,034,718
730,273
6,919,128
6,530,470
6,798,913
6,368,091

The notes on pages 33 to 51 form part of these consolidated financial statements.

These financial statements were approved by the Trustees on 27 September 2021 and signed on their behalf by:

Angela Swarbrick Trustee and Chairman

Gerry Bacon Trustee and Treasurer

31

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

Note
Cash flows from operating activities:
Net cash provided by operating activities
25
Cash flows from investing activities:
(Loss)/Returns on investments and servicing of finance
Interest and rent from investments
Interest paid
Purchase of fixed asset investments
Proceeds on sale of tangible fixed assets
Proceeds on sale of fixed asset investments
Payments to acquire tangible fixed assets
Net cash flows used in investing activities
Cash flows from financing activities:
Capital element of hire purchase payments
Net cash flows used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the start of the year
Cash and cash equivalents at the end of the year		 2021
2020
£
£
487,522
482,919
-
45,058
20,496
(2,437)
(3,685)
(1,165,170)
(1,370,000)
16,579
15,000
838,732
825,500
(40,023)
(77,446)
(307,261)
(590,135)
(36,508)
(30,771)
(36,508)
(30,771)
143,753
(137,987)
2,017,595
2,155,582
2,161,348
2,017,595

The notes on pages 33 to 51 form part of these consolidated financial statements.

32

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

General Information

Surrey Wildlife Trust is a private charitable company limited by guarantee incorporated in England and Wales. Its registered office is School Lane, Pirbright, Woking, Surrey, GU24 0JN. Details of its principal activities are set out in The Trustees' Annual report.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

a) Basis of preparation

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and with applicable United Kingdom accounting standards, the Statement of Recommended Practice: Accounting and Reporting by Charities issued in July 2014 (SORP 2015) and the Companies Act 2006. A separate Statement of Financial Activities for the parent charity is not presented because it has taken advantage of the exemptions offered by Section 408 of Companies Act 2006.

The net surplus of the parent charity for the year was £430,822 (2020: £612,745). Surrey Wildlife Trust constitutes a public benefit entity as defined by FRS102.

Going concern

The Trust reported a net cash inflow of £470,191. Detailed cash flow projections have been prepared for the 18 months to 31 March 2023 in light of the Covid-19 pandemic. These take account of transition costs that may result from re-focussing the Trust and risks to income and costs from the direct impacts of the pandemic and recession on the Trust's activities. The Trustees are satisfied that current and projected levels of cash and committed facilities are sufficient to secure the future of the Trust for the next 18 months and allow it to re-focus as may be necessary due to the Covid-19 pandemic. Accordingly these accounts have been prepared on a going concern basis. The Trust's Reserves Policy is set out in the Trustees' Report.

b) Basis of consolidation

The SOFA and Balance Sheet consolidate the financial statements of Surrey Wildlife Trust and its wholly owned subsidiaries, Norbury Park Wood Products Limited, SWT Enterprises Limited and SWT Ecology Services Limited. The results are consolidated on a line by line basis.

c)[Income ]

Income is included in the SOFA when the charity is legally entitled to the income, reasonably certain of receipt and the amount can be measured with sufficient reliability. The specific bases used are: Donations and sponsorships – are accounted for when the income is received.

Legacies – are accounted for on a receivable basis. Legacies are recognised when the Trust’s interest can be measured which is normally when notification is received of an impending distribution.

Grants and contract income including Government Grants are accounted for on a receivable basis. Revenue grants and contract income relate to operating activities and capital grants relate to acquisitions and capital projects. Grants and contract income subject to donor imposed conditions that specify the period in which the expenditure of resources can take place are accounted for as deferred income and recognised as a liability at year-end. Where receipt of grant and contract income is related to performance of deliverables it is accounted for as the Trust earns the right to consideration by its performance.

Membership income – annual subscriptions are accounted for in full when received. Gift aid income - is accounted for on a receivable basis.

Rental and other income – rental income from properties is accounted for on a receivable basis where the risks and rewards belong to the Trust. Until 31 March 2021 this policy applied to the Surrey County

33

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

Council property portfolio managed by the Trust. Between 1 April and 14 August 2020 the charity managed the property as SCC's agent and the rental income was set against the costs of managing the property.

d) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Raising funds - includes expenditure incurred in trading and property rental activities.

Charitable activities - relates to the work carried out on the core purposes of the Trust, namely land management, conservation and education.

Support costs – are costs that cannot be directly attributed to any of these headings and have been allocated to them, primarily on the basis of staffing levels. Governance costs relating to legal and statutory compliance and the strategic management of the Trust are included in support costs. Termination payments - are accounted for when notice has been given to the employees concerned. Irrecoverable VAT - is charged against the category of expenditure for which it was incurred.

e) Fixed assets – Heritage assets

Heritage assets comprise a number of nature reserves which are held to advance the conservation and educational objectives of the Trust. These assets are not depreciated as their residual value is considered to be higher than the carrying value. Details of the Trust’s nature reserves are set out in note 14.

f) Fixed assets – Tangible assets

Tangible fixed assets costing more than £1,000 are capitalised and are stated at cost. Depreciation is

provided at rates calculated to write off the cost of the assets over their expected useful life as below:

Intangible assets comprise Single Farm Payment entitlements purchased for use on eligible land acquired by the Trust and are amortised over the life of the property lease for which they were acquired.

h) Investments

Government Bonds are categorised as fixed asset investments if the Trustees intend to retain them or a successor bond for more than twelve months after the year end. Cash held on deposit with a maturity date of more than twelve months after the year end is treated as an investment. Investments in subsidiary undertakings are held at cost.

i) Stocks

Stocks are valued at the lower of cost and net realisable value. Net reaslisable value is based upon the estimated selling price less further costs expected to be incurred to completion and disposal.

j) Fund accounting

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Free reserves are unrestricted funds available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income and gains are allocated to the appropriate fund.

34

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

k) Pensions

The Trust contributed to a defined contribution pension scheme for employees further details of which are given in note 13. Pension costs are charged to the financial statements on an accruals basis.

l) Leases

Rentals on operating leases are charged to the SOFA over the lease term. Assets held under finance leases and hire purchase agreements are recorded in the balance sheet as tangible fixed assets and depreciated over their estimated useful lives. Interest is charged to the SOFA in proportion to the balance outstanding. The capital element of future payments is included in creditors.

35

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. ANALYSIS OF INCOME - DONATIONS, LEGACIES AND 2. ANALYSIS OF INCOME - DONATIONS, LEGACIES AND 2. ANALYSIS OF INCOME - DONATIONS, LEGACIES AND MEMBERSHIP
Unrestricted Restricted Total Unrestricted Restricted Total
2021 2020
£ £ £ £ £ £
Donations, legacies and
membership
Donations 110,674 44,739 155,413 117,598 73,835 191,433
Legacies 163,930 - 163,930 515,859 - 515,859
Memberships 1,208,909 - 1,208,909 1,205,517 - 1,205,517
Grants 29,030 7,200 36,230 - - -
1,512,543 51,939 1,564,482 1,838,974 73,835 1,912,809

Entitlement to legacies:

The Trust is aware of possible future receipts from legacies arising on deaths prior to 31 March 2021 where exact sums are not quantifiable and these are believed to be in the order of £80,000 (2020: £11,000).

3. ANALYSIS OF INCOME - CHARITABLE ACTIVITIES

Unrestricted Restricted Total Unrestricted Restricted Total
2021 2020
£ £ £ £ £ £
Conservation
Consultancy 734,782 112,093 846,875 857,537 93,918 951,455
Grants 97,212 272,458 369,670 - 163,501 163,501
Other - 10,712 10,712 - - -
831,994 395,263 1,227,257 857,537 257,419 1,114,956
Land management
Grants 1,173,912 84,182 1,258,094 1,451,215 - 1,451,215
Other 228,382 4,681 233,063 548,070 39,037 587,107
1,402,294 88,863 1,491,157 1,999,285 39,037 2,038,322
Education
Fees 38,597 - 38,597 238,607 - 238,607
Grants 123,885 13,255 137,140 11,747 409,989 421,736
162,482 13,255 175,737 250,354 409,989 660,343
Grant income
Grants have been included in the following income headings:
Donations 29,030 7,200 36,230 - - -
Conservation 97,212 272,458 369,670 - 163,501 163,501
Land management 1,173,912 84,182 1,258,094 1,451,215 - 1,451,215
Education 123,885 13,255 137,140 11,747 409,989 421,736
Other trading activities 48,936 - 48,936 - - -
1,472,975 377,095 1,850,070 1,462,962 573,490 2,036,452

36

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. ANALYSIS OF INCOME - CHARITABLE ACTIVITIES - continued

BIFFA
Coast to Capital
Community Foundation for Surrey
Environment Agency
Heritage Lottery Fund
Job Retention Scheme
Natural England
Rural Payments Agency
SUEZ
Surrey County Council
Tesco Groundwork
Thames Water
Affinity water
The Wildlife Trusts
Other grants		 2021
2020
£
£
-
8,277
162,035
51,551
-
2,747
49,567
67,928
118,100
405,989
363,428
-
575,233
710,792
552,389
698,242
-
36,200
13,200
12,000
495
13,112
-
22,614
4,000
-
11,623
-
-
7,000
1,850,070
2,036,452

Grant income has been received from the following government organisations: Coast to Capital : Funding for the Naturally Richer Surrey project in Holmesdale.

Environment Agency : Funding for the river restoration and improvement partnership work on the Wey, Mole and Eden Catchments led by the Trust. Work is ongoing and subject to an agreed management plan. Heritage Lottery Fund : Funding for the Hedgerow Heritage project and for the Green Challenge Fund Sure Footed Conservation Grazing project.

Job Retention Scheme : Funding contribution to employment costs of furloughed employees.

Natural England : Higher Level and Countryside Stewardship Schemes for conservation work on land managed by the Trust. Work is undertaken in accordance with agreed management plans and is ongoing. Rural Payments Agency : Single Farm Payment scheme.

Surrey County Council : Contribution to the Surrey Biodiversity Information Centre hosted by the Trust.

4. ANALYSIS OF INCOME - OTHER TRADING ACTIVITIES

Sale of wood products
Other trading activities
Grants
Property Income		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
2021
2020
£
£
£
£
£
£
482,787
-
482,787
357,796
-
357,796
77,167
-
77,167
321,483
-
321,483
48,936
-
48,936
-
-
-
24,027
-
24,027
674,013
-
674,013
632,917
-
632,917
1,353,292
-
1,353,292

5. ANALYSIS OF INCOME - INVESTMENT INCOME

Investment interest Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
2020
2020
£
£
£
£
£
£
45,058
-
45,058
20,496
-
20,496
45,058
-
45,058
20,496
-
20,496

37

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. RESULTS OF TRADING SUBSIDIARIES

Surrey Wildlife Trust owns 100% of the share capital of Norbury Park Wood Products Limited which operated a sawmill that manufactured and sold wood products under the Trust's contract with Surrey County Council. In agreement with Surrey County Council the business was closed on 5 May 2021. Arrangements are in place to donate each year by gift aid the company's taxable surplus income to Surrey Wildlife Trust. Its results from 1 April 2020 until closure and net assets at 31 March were:

Income
Cost of sales
Gross profit
Expenditure
Profit/(Loss) before tax
Tax (charge) on profit at 19%
Tax relief in respect of gift aid
Profit/(Loss) after tax and for the year
Gift aid to parent charity
Profit/(Loss) retained for the year
Net assets represented by:
Share capital
Profit and loss account		 2021
2020
£
£
445,844
329,407
157,840
89,417
288,004
239,990
258,421
242,044
29,583
(2,054)
5,621
-
(5,621)
-
29,583
(2,054)
-
21,784
29,583
(23,838)
1
1
47,528
17,946
47,529
17,947

Surrey Wildlife Trust owns 100% of the share capital of SWT Enterprises Limited which sold wood products. These activities ceased in December 2020 and the company is now dormant. Arrangements are in place to donate each year by gift aid the company's taxable surplus income to Surrey Wildlife Trust. Its results for the year and net assets at 31 March were:

Income
Cost of sales
Gross profit
Expenditure
Profit before taxation
Tax (charge) on profit at 19%
Tax relief in respect of gift aid
Profit after tax and for the year
Gift aid to parent charity
Profit/(Loss) retained for the year
Net assets represented by:
Share capital
Profit and loss account		 2021
2020
£
£
36,943
135,866
16,839
50,806
20,104
85,060
20,104
83,940
-
1,120
-
(213)
-
213
-
1,120
1,121
6,379
(1,121)
(5,259)
2
2
-
1,121
2
1,123

38

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. RESULTS OF TRADING SUBSIDIARIES - continued

Surrey Wildlife Trust owns 100% of the share capital of SWT Ecology Services Limited which provided ecological consultancy services. Arrangements are in place to donate each year by gift aid the company's taxable surplus income to Surrey Wildlife Trust. Its results for the year and net assets at 31 March were:

Income
Cost of sales
Gross profit
Expenditure
Profit before taxation
Tax (charge) on profit at 19%
Tax relief in respect of gift aid
Profit after tax and for the year
Gift aid to parent charity
Profit retained for the year
Net assets represented by:
Share capital
Profit and loss account		 2021
£
650,668
150,538
500,130
377,445
122,685
23,310
(23,310)
122,685
193,311
(70,626)
1
72,685
72,686		 2020
£
805,157
150,538
654,619
456,308
198,311
37,679
(37,679)
198,311
99,215
99,096
1
143,311
143,312

7. ANALYSIS OF EXPENDITURE - RAISING FUNDS

Donations & legacies
Membership
Other trading activities
Donations & legacies
Membership
Other trading activities		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
2021
2020
£
£
£
£
£
£
104,272
7,200
111,472
98,774
6,445
105,219
331,907
-
331,907
470,111
-
470,111
731,607
-
731,607
1,396,961
-
1,396,961
1,167,786
7,200
1,174,986
1,965,846
6,445
1,972,291
Direct
Support
Total
Direct
Support
Total
Costs
Costs
2021
Costs
Costs
2020
£
£
£
£
£
£
84,417
27,055
111,472
72,472
32,747
105,219
291,324
40,583
331,907
426,448
43,663
470,111
609,858
121,749
731,607
1,298,720
98,241
1,396,961
985,599
189,387
1,174,986
1,797,640
174,651
1,972,291

39

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. ANALYSIS OF EXPENDITURE - CHARITABLE ACTIVITIES

Conservation
Land management
Education
Conservation
Land management
Education		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
2021
2020
£
£
£
£
£
£
1,023,338
442,108
1,465,446
1,042,181
276,096
1,318,277
1,411,003
21,117
1,432,120
2,344,701
49,905
2,394,606
593,952
41,008
634,960
718,075
18,164
736,239
3,028,293
504,233
3,532,526
4,104,957
344,165
4,449,122
Direct
Support
Total
Direct
Support
Total
Costs
Costs
2021
Costs
Costs
2020
£
£
£
£
£
£
1,194,894
270,552
1,465,446
1,116,783
201,494
1,318,277
1,148,041
284,079
1,432,120
2,097,668
296,938
2,394,606
486,157
148,803
634,960
577,165
159,074
736,239
2,829,092
703,434
3,532,526
3,791,616
657,506
4,449,122

9. ALLOCATED SUPPORT COSTS

General management
Finance, HR, IT and facilities
Marketing, communications
Governance		 Raising
Charitable
Total
Raising
Charitable
Total
Funds
Activities
2021
Funds
Activities
2020
£
£
£
£
£
£
41,722
154,968
196,690
41,699
156,983
198,682
93,595
347,640
441,235
79,784
300,365
380,149
25,435
94,473
119,908
24,111
90,772
114,883
28,634
106,353
134,987
29,056
109,386
138,442
189,386
703,434
892,820
174,650
657,506
832,156

10. TOTAL RESOURCES EXPENDED

10. TOTAL RESOURCES EXPENDED
2021 2020
£ £
The result for the year is stated after charging:
Depreciation on owned tangible and intangible assets 88,096 115,629
Depreciation on assets under hire purchase agreements 17,273 17,273
Operating leases rentals - vehicles 34,692 34,992
Operating leases rentals - land and buildings 104,913 119,565
Hire purchase interest 2,437 3,685
Auditors' remuneration - audit services 20,605 23,148
- other services 8,335 6,715

11. TRUSTEES REMUNERATION

No remuneration was paid to any Trustee. Travel expenses were repaid to one individual (2020: 1) totalling £16 (2020: £59). The Trust provides liability insurance for the Trustees at cost of £2,158 (2020: £2,055) Aggregate donations from Trustees during the year totalled £nil (2020: £nil).

40

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STAFF COSTS AND NUMBERS
Salaries and wages
Social security costs
Pension contributions		 2021
2020
2021
2020
£
£
£
£
2,286,423
2,389,249
1,766,475
1,913,638
216,023
215,841
172,356
176,525
163,976
165,693
137,477
135,553
Group
Charity
2,666,422
2,770,783
2,076,308
2,225,716

A grant of £363,428 was received from the Government's Coronavirus Job Retention Scheme which contributed to the cost of furloughing staff during the pandemic. The Job Retention Scheme grant is included in Income.

The number of employees whose emoluments exceeded £60,000 in the year was:

2021 2020 2021 2020
£70,001 - £80,000 1 1 1 1

At 31 March 2021 the Trust Leadership Team comprised the Chief Executive and four directors (2020: CEO and five directors) responsible for Biodiversity, People Engagement, Partnerships and Projects, Human Resources & Support Services and Finance and Nature-Based Solutions. It received aggregate remuneration of £332,775 (2020: £314,828).

Eight staff agreed redundancy during 2020/21 following the decision taken with Surrey County Council to close the Sawmill. Redundancy payments totalled £25,766 and were fully expensed in the year.

Group Charity
2021 2020 2021 2020
The average staff employed during the year
calculated on a headcount basis 100 107 77 86
The average number of staff employed during the year, calculated on a full time equivalent basis was:
Group Charity
2021 2020 2021 2020
Conservation 22 21 11 12
Donations 2 2 2 2
Education 13 15 13 15
Land Management 20 25 20 25
Membership 3 5 3 5
Other Trading Activites 10 11 2 4
Support 9 8 9 8
Total 79 87 60 71

13. PENSION COSTS

Surrey Wildlife Trust operates a defined contribution pension scheme whose assets are held separately from those of the organisation in an independently administered fund. The pension cost charged to the Statement of Financial Activities was £141,349 (2020: £146,187).

41

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14. FIXED ASSETS - HERITAGE ASSETS GROUP AND PARENT CHARITY

2021
2020
Nature Reserves £
£
COST 638,535
638,535
At 1 April and 31 March 638,535
638,535
**Date ** Reserve Public Access £ Size (Ha) Habitat
1965 Bay Pond Closed Donated 7 Lake, alder swamp & flower meadow
1970 Bagmoor Common Open 3,000 14 Open heath & mixed woodland
1972 Nower Wood Closed 22,000 33 Mixed woodland
1974 Wallis Wood Open Donated 14 Oak & hazel woodland
1981 Thundry Meadows Open 25,000 15 Unimproved wet grassland
1987 Colekitchen Down Open 6,000 3 Unimproved chalk grassland
1987 Vann Lake By Permit 56,771 8 Open water
1987 Underdown Open Donated - Mixed woodland
1988 Thorpe Hay Meadow Open 35,591 7 Unimproved grassland
1992 Cucknells Wood Open Donated 11 Mixed woodland
1992 Vann Lake Wood Open 3,000 4 Mixed woodland
2000 Fir Tree Copse Open 22,065 6 Oak, ash & hazel woodland
2000 Whippets Cant Closed Donated 1 Oak, ash & hazel woodland
2000 Dawcombe By Permit Donated 23 Chalk grassland & scrub
2001 Graeme Hendry Wood Open 14,295 10 Deciduous woodland
2002 The Forest Open 69,321 21 Mixed woodland
2002 Quarry Hangers Open 70,582 11 Unimproved chalk grassland & scrub
2002 Candy’s Copse Open 4,648 - Hazel coppice with standards
2002 Seccombes Wood Open Donated 2 Mixed woodland
2002 Dodds Field Closed 40,000 2 Improved grassland
2003 Papercourt Meadows Open Donated 10 Open water & reedbed
2003 Papercourt Lock Open 97,465 19 Wet grassland
2003 Glovers Pond Open 27,484 3 Lowland heathland
2003 Land nr Backside Com'n Open 12,000 3 Grassland
2004 Land at Compton Open Donated 3 Grassland, mixed woodland & pond
2004 Newdigate Brickworks Open Donated 16 Woodland, grassland, marsh & water
2004 Middlebriars Wood Open Donated 1 Mixed woodland
2006 Pucks Oak Barn Gard'n Open 2,341 - Barn & orchard
2006 Speynes Mere Open 12,545 1 Grassland
2008 Fraser Down Open 97,037 10 Chalk grassland & scrub
2009 The Birches Open 17,390 1 Hazel coppice with standards
2009 Manor Farm Open Donated 25 Reversion to grassland & wet grassland
2012 Priest Hill Open Donated 33 Chalkgrassland
Total 638,535 317

The Trust's nature reserves are held to advance the conservation objectives of the charity and are therefore recognised as heritage assets. Purchased heritage assets are included in the balance sheet at cost. Donated assets are included at nil cost because reliable valuations could not be obtained at the point of acquisition. Public access to sites is generally unrestricted subject to health and safety, operational or conservation restrictions. There have been no disposals or impairments during the last five years.

42

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. FIXED ASSETS - TANGIBLE ASSETS

15. FIXED ASSETS - TANGIBLE ASSETS
Improve-
ments to
Freehold leasehold Office
GROUP & PARENT CHARITY property property Machinery equipment Vehicles Total
£ £ £ £ £ £
COST
As at 1 April 2020 1,488,131 25,926 472,026 182,917 379,563 2,548,563
Additions - 18,953 1,450 3,480 16,140 40,023
Disposals - (5,961) (141,275) (2,500) (32,957) (182,693)
At 31 March 2021 1,488,131 38,918 332,201 183,897 362,746 2,405,893
DEPRECIATION
As at 1 April 2020 168,668 7,557 336,279 97,945 269,026 879,475
Charge for the year 30,048 4,268 22,866 25,282 22,905 105,369
Disposals - (3,168) (115,607) (2,501) (29,821) (151,097)
At 31 March 2021 198,716 8,657 243,538 120,726 262,110 833,747
NET BOOK VALUE
At 31 March 2021 1,289,415 30,261 88,663 63,171 100,636 1,572,146
At 31 March 2020 1,319,463 18,369 135,747 84,972 110,537 1,669,088

Included within the net book value is £99,735 (2020: £129,275) relating to assets held under hire purchase agreements. The depreciation charged on these assets in the year was £17,273 (2020: £17,273).

15. FIXED ASSETS - INTANGIBLE ASSETS

15. FIXED ASSETS - INTANGIBLE ASSETS
COST
As at 1 April
At 31 March
DEPRECIATION
As at 1 April
At 31 March
NET BOOK VALUE at 31 March 2021
16. FIXED ASSETS - INVESTMENTS
Investments in UK Government bonds
Investment in cash and cash equivalents
Subsidiary undertakings		 2021
2020
2021
2020
£
£
£
£
18,100
18,100
18,100
18,100
Group
Charity
Entitlements to Single
Farm Payment
Entitlements to Single
Farm Payment
18,100
18,100
18,100
18,100
18,100
18,100
18,100
18,100
18,100
18,100
18,100
18,100
-
-
-
-
2021
2020
2021
2020
£
£
£
£
952,580
1,370,000
952,580
1,370,000
703,420
-
703,420
-
-
-
4
4
Group
Charity
1,656,000
1,370,000
1,656,004
1,370,004

43

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. FIXED ASSETS - INVESTMENTS - continued

Investments that were held as cash and cash equivalents at 31 March 2021 were placed in deposits of 12 months or more in May 2021 consistent with the charity's investment policy.

Proportion
Country of of Ordinary
incorpora- share Ordinary
Name Activity tion capital held shares held
SWT Enterprises Limited (Company Grazing services and Great Britain 100% 2
registration number 02808025) wood products
Norbury Park Wood Products Limited Manufacture of wood Great Britain 100% 1
SWT Ecology Services Limited (Company Ecology consulting Great Britain 100% 1

The registered office of all subsidiary companies is the same as that of the charity.

17. STOCKS

17. STOCKS
Finished goods for resale
Wood products and raw materials
Livestock
18. DEBTORS
Amounts owed by group undertakings
Trade debtors
Gift aid recoverable
Accrued income
Other debtors and prepayments		 2021
2020
2021
2020
£
£
£
£
14,606
11,861
14,606
414
-
99,481
-
-
128,931
147,817
128,931
147,817
Group
Charity
143,537
259,159
143,537
148,231
2021
2020
2021
2020
£
£
£
£
-
-
18,033
90,837
260,582
349,537
88,993
212,097
18,600
40,023
18,600
40,023
1,413,697
1,461,142
1,373,765
1,434,596
49,438
120,565
45,067
106,753
Group
Charity
1,742,317
1,971,267
1,544,458
1,884,306

19. INVESTMENTS

Investments in cash and cash equivalents 2021
2020
2021
2020
£
£
£
£
510,000
482,984
510,000
482,984
Group
Charity
510,000
482,984
510,000
482,984

Investments were held as cash and cash equivalents at 31 March 2021 and placed in longer term deposits in May 2021 consistent with the charity's investment policy.

44

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. CREDITORS DUE WITHIN ONE YEAR

20. CREDITORS DUE WITHIN ONE YEAR
Amounts owed to group undertaking
Trade creditors
Taxation and social security
Other creditors
Accruals
Deferred income		 2021
2020
2021
2020
£
£
£
£
16,861
56,754
262,804
355,029
232,557
288,141
75,736
96,665
69,738
96,665
30,363
67,816
37,236
67,815
250,970
689,699
178,003
630,318
365,411
155,182
347,378
155,182
Group
Charity
985,284
1,364,391
881,773
1,294,875

Deferred income consists of rent, grants and other income of £365,411 (2020: £155,182) received in advance of the period to which they relate.

During 2019 the Trustees agreed a five year committed loan facility with Charity Bank for £350,000 with the option to repay any loan outstanding after five years over the following twenty years. The facility is secured by a charge registered on the Trust's Pirbright Head Office. At 31 March 2021 the Trust had not drawndown on the facility.

Deferred income brought forward
Released during the year
Deferred during the year
Deferred income carried forward		 2021
2020
2021
2020
£
£
£
£
155,182
282,647
155,182
278,082
64,879
267,509
64,879
262,944
275,108
140,044
257,075
140,044
Group
Charity
365,411
155,182
347,378
155,182

21. CREDITORS DUE IN MORE THAN ONE YEAR

21. CREDITORS DUE IN MORE THAN ONE YEAR
Amounts due under hire purchase agreements 2021
2020
2021
2020
£
£
£
£
9,471
30,783
9,471
30,783
Group
Charity
9,471
30,783
9,471
30,783

45

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

22. RESTRICTED FUNDS

22. RESTRICTED FUNDS
Balance at
Balance at Transfers in 31 March
GROUP AND PARENT CHARITY 1 April 2020 Income Expenditure / (out) 2021
£ £ £ £ £
Priest Hill 416,062 250 (10,100) - 406,212
Hedgerow Heritage 428,087 17,060 (67,868) 10,000 387,279
Surrey BIC 152,751 119,005 (107,585) 14,185 178,356
Naturally Richer Surrey 79,946 165,035 (169,021) 79,026 154,986
Heathland Restoration 154,663 - - (39,577) 115,086
Fraser Down 96,640 - - - 96,640
Wey, Mole and Eden Catchment Part'rships 110,594 70,754 (96,324) - 85,024
Grazing Green Challenge Fund - 69,900 - - 69,900
Treasure Chest 30,517 1,332 - 26,081 57,930
Surrey Wildlife Atlases 34,472 2,352 13,688 - 50,512
Nature Reserves & Projects 31,895 23,159 (18,976) 5,898 41,976
Bees, Bugs and Butterflies 44,081 20,162 (16) (26,081) 38,146
Elizabeth McAlmont Reserve 23,319 (2,525) - 900 21,694
The Birches 17,390 - - - 17,390
The Forest 10,817 - - - 10,817
Carbon Net Zero - 10,000 - - 10,000
Surrey Nature Partnership 6,991 3,936 (6,331) 1,000 5,596
Covid-19 transition grant - 48,900 (48,900) - -
1,638,225 549,320 (511,433) 71,432 1,747,544
Balance at
Balance at Transfers in 31 March
GROUP AND PARENT CHARITY 1 April 2019 Income Expenditure / (out) 2020
£ £ £ £ £
Hedgerow Heritage 20,672 424,552 (18,164) 1,028 428,088
Priest Hill 426,817 250 (7,405) (3,600) 416,062
Surrey BIC 171,878 92,610 (128,684) 16,947 152,751
Wey, Mole and Eden Catchment Part'rships 75,257 106,810 (71,874) 401 110,594
Fraser Down 96,640 - - - 96,640
Naturally Richer Surrey 99,364 63,003 (73,306) (9,116) 79,947.00
Chobham NNR Restoration Fund 74,052 - - - 74,052
Heathland Restoration 69,624 - - - 69,624
Bees, Bugs and Butterflies - 44,631 - (550) 44,081
Surrey Wildlife Atlases 32,419 2,053 - - 34,472
Treasure Chest 36,412 - (6,445) 550 30,517
Elizabeth McAlmont Reserve 22,204 2,525 (1,410) - 23,319
The Birches 17,390 - - - 17,390
Chobham Valley End SANG 10,987 - - - 10,987
The Forest 11,657 - (840) - 10,817
Westfield Common Community Project 12,830 17,545 (19,976) - 10,399
Runfold Wood 9,593 - - - 9,593
Surrey Nature Partnership - 6,255 (264) 1,000 6,991

46

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

22. RESTRICTED FUNDS - continued

22. RESTRICTED FUNDS - continued
GROUP AND PARENT CHARITY
Land Management Projects
Brockham Reserve
Wallis Wood
Holmethorpe Lagoons		 Balance at
1 April 2019
Income
Expenditure
Transfers in
/ (out)
Balance at
31 March
2020
£
£
£
£
£
6,256
971
(403)
-
6,824
3,039
-
-
-
3,039
-
18,900
(16,861)
-
2,039
3,687
175
(4,978)
1,116
-
1,200,778
780,280
(350,610)
7,776
1,638,225

Priest Hill: Fund for the management of the Priest Hill nature reserve at Epsom.

Hedgerow Heritage: Volunteer led project to survey, protect and restore hedgerows across Surrey.

Surrey Biodiversity Information & Record Centre: A project funded by partners for the recording and provision of biodiversity information in Surrey.

Naturally Richer Surrey: A project supported by Coast to Capital LEP which is enhancing habitat and developing Natural capital investment approach to improving biodiversity in the Holmesdale area.

Heathland Restoration Fund: Fund for conservation works on Surrey's heathlands including Chobham NNR. Fraser Down: Heritage asset comprising chalk grassland.

Wey, Mole and Eden Catchment Partnerships: Environment Agency funded project led by the Trust for river restoration on the Wey, Mole and Eden catchment areas.

Grazing Green Challenge Fund: HLF funded project to deliver specialist conservation grazing to protected habitat sites across Surrey.

Treasure Chest: Donations based fund to support restoration projects.

Surrey Wildlife Atlases: Fund for the publication of types and distribution of species of wildlife in Surrey. Nature Reserves and Projects: Funds for various conservation projects on reserves and partner's land including the Westfield Common Community Project and Runfold Wood, Brockham and Wallis Wood reserves. Bees, Bugs and Butterflies: A project to enhance habitat for pollinators on the North Downs chalk grasslands. Elizabeth McAlmont Reserve: Fund for the management of the Elizabeth McAlmont reserve at Compton. The Birches: Heritage Asset land comprising hazel coppice and standards.

The Forest: Fund for the management of mixed woodland near East Horsley.

Carbon Net Zero: TWT funded project to assess the charity's carbon footprint and create a plan for the charity to become carbon net zero or better.

Surrey Nature Partnership: The Trust hosts the Surrey Nature Partnership.

Covid-19 Transition Grant: HLF funded grant to help the charity transition through the covd-19 pandemic. Transfers in comprise contributions from the Trust's unrestricted funds to facilitate restricted fund projects. Transfers out comprise the use of unrestricted resources typically staff time required to complete restricted fund projects.

47

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

23. DESIGNATED FUNDS

GROUP AND PARENT CHARITY
Heritage assets fund
Capital expenditure fund
Strategic projects and investment fund
Tangible & intangible fixed assets fund
Pirbright refurbishment fund
Covid-19 working capital fund
GROUP AND PARENT CHARITY
Heritage assets fund
Capital expenditure fund
Strategic projects and investment fund
Tangible & intangible fixed assets fund
Pirbright refurbishment fund
Covid-19 working capital fund
Investment property revaluation fund		 Balance at
1 April 2020
Income
Expenditure
Transfers in
/ (out)
Balance at
31 March
2021
£
£
£
£
£
524,505
-
-
-
524,505
80,000
-
(14,000)
-
66,000
926,000
14,000
-
-
940,000
1,669,088
40,023
(136,965)
-
1,572,146
450,000
-
-
(140,000)
310,000
350,000
254,000
-
-
604,000
3,999,593
308,023
(150,965)
(140,000)
4,016,651
Balance at 1
April 2019
Income
Expenditure
Transfers in
/ (out)
Balance at 31
March 2020
£
£
£
£
£
524,505
-
-
-
524,505
50,000
-
(50,000)
80,000
80,000
426,000
500,000
-
-
926,000
1,946,459
107,551
(384,922)
-
1,669,088
-
-
-
450,000
450,000
-
-
-
350,000
350,000
800,000
-
-
(800,000)
-
3,746,964
607,551
434,922
-
80,000
3,999,593

Heritage assets fund: This represents the asset value of nature reserves held by the Trust.

Capital expenditure fund: Fund to purchase new capital assets in 2021-22 to support charitable activities. Strategic projects & investment fund: Fund to support major new projects required to achieve the 2018 FiveYear strategic plan and investment in income generating activities.

Tangible & intangible fixed assets fund: This represents the premises, vehicles and equipment required to deliver the mission.

Investment property revaluation reserve: This represents the value of the Deans investment property. Covid-19 working capital fund: To provide a cash reserve to manage uncertainty arising from Covid-19. Pirbright refurbishment fund: Fund to improve the H.O. working environment and IT infrastructure and adapt to Covid-19 social distancing and home-working requirements.

24. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Heritage assets
Tangible & intangible fixed
assets
Fixed asset investments
Net current assets
Creditors due after more
than one year		 Unrestricted Restricted
Total
Unrestricted
Restricted
Total
Funds
Funds
2021
Funds
Funds
2020
£
£
£
£
£
£
524,505
114,030
638,535
524,505
114,030
638,535
1,572,146
-
1,572,146
1,669,088
-
1,669,088
1,250,000
406,000
1,656,000
950,000
420,000
1,370,000
1,834,404
1,227,514
3,061,918
1,779,435
1,104,196
2,883,631
(9,471)
-
(9,471)
(30,783)
-
(30,783)
5,171,584
1,747,544
6,919,128
4,892,245
1,638,226
6,530,471

48

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

25. NOTES TO THE GROUP CASHFLOW STATEMENT

i) Reconciliation of net incoming resources to net cash inflow from operating activities:

Net income for the year
Adjustments for:
Interest and rent on investments
Interest payable
(Gains)/losses on investments
Depreciation
(Profit)/Loss on disposal of tangible fixed assets
(Increase) in stocks
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
ii) Analysis of cash and cash equivalents:
Cash in Hand
Notice deposits (less than 3 months)
Investments maturing in less than 6 months		 2021
2020
£
£
388,659
682,744
(45,058)
(20,496)
2,437
3,685
40,438
(25,500)
105,369
132,902
15,017
237,017
115,622
6,176
228,950
(832,918)
(363,912)
299,309
487,522
482,919
2021
2020
£
£
357,801
483,384
1,293,547
1,051,227
510,000
482,984
2,161,348
2,017,595

26. ANALYSIS OF CHANGES IN NET DEBT

Cash
Cash equivalents
Investments maturing within six months
Investments maturing after six months
Overdraft facility repayable on demand
Finance Lease obligations
Total		 At 1 April
2020
Cash flows
New Finance
Leases
Fair Value
Movement
At 31 March
2021
£
£
£
£
£
483,384
(125,583)
-
-
357,801
1,051,227
242,320
-
-
1,293,547
482,984
27,016
-
-
510,000
1,370,000
326,438
-
(40,438)
1,656,000
3,387,595
470,191
-
(40,438)
3,817,348
-
-
-
-
-
(64,274)
36,508
-
-
(27,766)
3,323,321
506,699
-
(40,438)
3,789,582

49

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

27. COMPARATIVE INFORMATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020

EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020
Note
Income From:
Donations, legacies &
membership
2
Charitable activities:
3
Conservation
Land management
Education
Other trading activities
4
Investments
5
Total
Expenditure on:
Raising funds
7
Charitable activities:
8
Conservation
Land management
Education
Total
Net gains/(losses) on investments
Net income
Transfers between funds
Net movement in funds
Funds brought forward at 1 April
Funds carried forward at 31 March		 Unrestricted
Restricted
Total
Funds
Funds
2020
£
£
£
1,838,974
73,835
1,912,809
857,537
257,419
1,114,956
1,999,285
39,037
2,038,322
250,354
409,989
660,343
1,353,292
-
1,353,292
20,496
-
20,496
6,319,938
780,280
7,100,218
1,965,846
6,445
1,972,291
1,042,181
276,096
1,318,277
2,344,701
49,905
2,394,606
718,075
18,164
736,239
6,070,803
350,610
6,421,413
3,939
-
3,939
253,074
429,670
682,744
(7,776)
7,776
-
245,298
437,446
682,744
4,646,948
1,200,778
5,847,726
4,892,246
1,638,224
6,530,470

28. FINANCIAL COMMITMENTS - GROUP

OPERATING LEASES

The amounts payable in respect of operating leases over their remaining lives are shown below, analysed according to the due date of the payments.

Motor vehicles, plant and machinery
Within 1 year
In 2 to 5 years
Land and buildings
Within 1 Year
In 2 to 5 years
In more than 5 years		 2021
2020
£
£
34,675
39,384
22,001
55,932
56,676
95,316
2021
2020
£
£
76,083
76,083
95,625
102,875
138,000
161,000
309,708
339,958

50

SURREY WILDLIFE TRUST

Registered Company Number: 00645176

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

29. RELATED PARTY TRANSACTIONS

Related party transactions and balances owing at 31 March between SWT and its wholly owned subsidiary companies are shown below:

companies are shown below:
2021 2020
£ £
Related party transactions:
SWT Ecology Services Ltd:
Provision of ecological consultancy to SWT at a discounted rate 17,471 37,118
Supply by SWT of mapping and ecological data 23,341 19,682
Charge from SWT for support services, equipment and loan interest 12,592 12,592
Gift aid paid to SWT 193,311 99,215
SWT Enterprises Ltd:
Charge from SWT for support services, equipment and loan interest 3,272 8,908
Gift aid paid to SWT 1,121 6,379
Norbury Park Wood Products Ltd:
Provision of wood products to SWT at a discounted rate - 5,433
Charge from SWT for support services, equipment and loan interest 24,479 23,424
Gift aid paid to SWT - 21,784
Inter-company balances between SWT and its wholly owned subsidiaries at 31 March:
SWT Ecology Services amount owing to / (from) SWT 18,033 (56,754)
SWT Enterprises amount owing to / (from) SWT - 22,683
Norbury Park Wood Products amount owing to / (from) SWT (16,861) 68,154

All transactions between SWT and its subsidiary companies are settled in cash.

SWT held a charge over the assets of NPWP until the charge was registered as satisfied on 16 June 2021.

30. TAXATION

The Trust is a registered charity and thus is exempt from corporation tax on surpluses generated from its charitable activities. The activities of the Trust's subsidiaries, Norbury Park Wood Products Limited and SWT Enterprises Limited and SWT Ecology Services Limited are chargeable to corporation tax.

31. POST-BALANCE SHEET EVENT

As agreed with Surrey County Council the Sawmill business operated by Norbury Park Wood Products Limited (NPWP) was closed on 30 April 2021. As a result eight staff were made redundant. All the costs relating to the closure have been expensed in the year ended 31 March 2021.

NPWP was a wholly owned subsidiary of SWT and the Sawmill was its only business activity. On 19 July 2021 the Trustees in agreement with directors of NPWP decided to liquidate the company through a members voluntary liquidation. Menzies Business Recovery LLP were appointed as liquidators on 19 July 2021.

51