Compa*y Rwstration No. $85247 (England and Wales) Warwi¢kshir¢ Wildlift Trnst Ltd (A Company tAmited by GuaraDltt) CONSOLIDATED FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2023 IRegis¢ered Cb*rity Number 2092(KI) •AD8FVFW* 3010712024 ¢C￿PANIEs HOUSE A14 #50 W*rwi¢kshire Wildlife Trust Lhl CONTENTS Page Legal and Administrative Infonnation Trustees, ReEM)rt Auditor's Re￿)rt 20 Consolidated Statement of Financial Activities 23 Consolidated and Parent Charity Incom¢ and Expendilure Accounts 24 Balance Sheet 25 Siaiemeffl of Cash Flows and Consolidated Swemeni of Cash Flows 26 Accounting Policies 27 Note5 to the Financial Statements 29 Warwiek5hire Wildlife Trnst Ltd Legal and Administrative Infornia¢ion DIRECTORS B Ni¢holson M Wright (appointed 4 D￿eMb￿ 2023) Dr M G M Rartdall C P Waring {TesignEd 20 June 20231 M Bunney {resigned 20 June 20231 K M Reev¢ Ire5i8ned 20 June 2023) J McKenzie D M¢ATdlc Dr H l Brittain A A Gabbiias Dr S Jun¢d L Wilbraham G Litterick C Reading M Sanderson N Rawlinson lapFM)Inted 27 July 2023) D Male lapwintcd 27 July 20231 M Hughes (apwsinted 27 July 2023, resiBn¢d 05 April 2024) Cbair Vitt Chair Trusurer COMPANY SECRETARY Vacant Compny No. 585247 Ch&rity 20921J) REGISTERED OFFICE Brandon Marsh Naiur¢ Certrrt Brandon Lane Coventry West Midland5 CV3 3GW Telephone.. Email= 024 7630 2912 enquires@wkM¢.org.uk AUDITORS BANKERS SOLicrroRS SatY¢ry LLP WestrA)int Pei¢rboTough PE2 6FZ The Co-operniv¢ Bank 6 Warwick Row Coven CVI IEE Wri8hL H&s5all LLP Olympus Avenue Leaminglon Spa CV34 6BF Warwickshire Wildlife Trn$t lid Tru5ttts' Report For the year end¢d 31 tkcember 2023 The Ix)ard of Tn￿tee5 prcsent their annual TtrA)rt 108ether with the audited consoltdatrd financial S¢aternents of the charity and Its subsidiary for the ycar ¢ndd 31 Decunber 2023. The financial statements comply with the Charilies Aa 2011, tht Companies Act 21K16, the Memorandum and Articles of Association and A¢￿￿￿lIng and Re￿nIngbY (Jwiiies.. StaL•nenLof Recommended Practice applirable to charities preparing their aceouni in accordanc¢ with the Finan¢iai R¢p)llirtg Standard appliL*bl¢ in the UK and Republic of Ireland (FRS102) (effective l Janusry 2019). Annugl report 2023 Warwickshire Wildlife TTUSt exisL8 to achieve our vision of an environment rich in wildlife for everyone in WaNckshi Coventry and Solihull. The trust is a re8isiered charity INO. 21Tr32001 and a comp￿Y limi*d by guarantee (No. 585247). We were estsblished in 1970 to proteci our local nanjral htritsge and encourage rkn)plc to rngage. ￿lOY and involvtsj with the naturnl environmenr. We are a membcrship organi5ation. 8ovcrncd by a Mcrnordndum and Article5 of A550cialion. Thc frusl i5managed by a Council of voluntary Tru5we& eleaed fmm member4 who provide the ovtrall straie8ic direction for the development and work of th¢ charity. On a daY-￿41Y basis ¢)ur work is ￿led out by a staff of 207 lat 31 Decernber 2023, includingmiddlemarch Environmental Lt¢ the Trysi's wholly-owned subsidiary consultancy company). assisted hugely by a large numberof volunteers. The Charity's Head Offi¢e is ai Brandon Morsh NaDJre Centre near Coventry and it Own5 Lhe Parkrid8e Centre in Brueton Park, Solihull as well as leasing offices for Middltmarch Environmtntsl Lts4 near Mcriden and the Hams Hall F￿vironMental Centr¢ ncar Coleshill. Watwickshire Wildlife TnLSt is one of 47 irtdepenthi ¢haTilie& whi¢h form a t)aiiorta] kMrtnershJp- The Wildlife Tn￿ts - through ihe Royal Society of Wildlife Trtws. Together we have over 800.(￿10 members and aN)und 2 JOO naiure resetves throughout the UK. The Twsi's junior membtrship is also part of the naiional ￿Vi￿nmen[ club, Wildlife Watch, ￿thieh provides wojects for our m¢mbers and affiliatrd s¢hools, ￿ involving directly with envimmentsl issues. Durin8 2023. the munbership of the Tnjsi in Warwickthire, covert￿ and Solihull trdalled around 26,5¢J). If you wwld like ￿ join, or find our more, pl￿t contact us= Warwickshire Wildlife TrLLSt Brandon March Naiure Cenire Brandon Lane Coven CV3 3GW Tel= (02417630 2912 Email.. en llirie wkwt. Website.. www.waThvick irewildlifetru51.0 Wgrwickshire Wildlife Trust Ltd Trustees, Report- continued For the year ¢nd¢d 31 Decembrr 21123 Our Vision Our vision is of a thrivin8 natural World *fiere wildlife play5 a va]ued role in addressing ihe climate. ecological and human health emergencies. Our Puryose Our purp)se is to bring wldlife ba¢k, and to help tthplt a¢[ fornaiuTe. OurApproafh We are arnbitlous in our dcsire to reversc the decline in naturt. We speak with a bold and wnfidtnt voice. ￿1]ing thc truth atrh)u¢ the swe ofnature artd whal needs to be done w put it into recovery. As part of a grassroots movemenl we are fLrn?ly in our ILK41 communities wherc we look afttt wild places and increase people's experience of the naDJral ￿￿Id. We Iwk w es(ablish comnh)n Cause and wotk in Fwmership with other4 to devek)p new ways ￿ do what's Ti8hi for nawre and delivtr impact in supp)rt of our vision. We demon5tratc what 15 wssible. and In4)1￿ an￿)wera￿d enable people from all ba¢kgrouDds w bring at￿lOur vision with us, embracing ihe diversiry of our society w ¢hang¢ the natural world for the beller. As part of the UK ne¢work of Wtldlife Tn￿5 w¢ work to ensure that (m￿ local xtions athl up ts) have a colledive impact and help address global issues. Othe Str4tegle C￿1 More space for nature with more ￿￿pIe on nature'sside Tw• Kry MeX$￿r£S for W*rwitkshir4 Cov¢Dtry andsollhun 3￿A of land managed forwldlife l in 4 people aaing forwildlife Four Key Measures for WaTWitk5hire WlldliftTr An additional I,(M)) ha under ￿]r managemeni for the recovery ofrtawre A wpport bast of munbtrs, volunteers and partners which properly reflects OurS￿lety Net zero 8Teenhouse 8&5 emissions by 2030 Eliminauon of our dis¢r¢tionary us¢ Or￿sti¢l￿¢S by 2025 Warwickshire Wildlife T￿51 Ltd T￿sleeS, Report- eontinued For tbe year ended 31 De¢¢mber 2023 STRUCTURE. GOVERNANCE AND MANACEMENT Board of Trnstee5 The Council of Trusm is reswnsible for the ovcrall governance of the frust. Tn]stees are eitheT CO•op¢ed during the year or clecttd at the Annual Gtneral Meeting. Co¥OPted T￿￿[te5 mu51 sland for clection at thc Anrtual Gtntral Meetin8 immediately following their appointm¢nL. After ele¢tion ai the Annual Meeiing. Trustees serye for a p¢riod of 3 years and rnay be elecied for 2 further periods of 3 year8 bui t)0 longer unless the Council reM>lves that there are exceptkonal circumstances j￿IlfyIng their re-election. Council elects one of its numt*rs to act &s Ch￿"r for the year at their firs( meeling following the Annual General Mecting. Effective partnership beNeen Tnwees and stsff c4)ntinues to ￿n￿b￿le signifiunily to our success. Trustees have differing experiences and backgrounds and their roles 2nd r¢sp)nsibiliiies rquire them LO have an understanding ot.all aspecL5 Ot the Charity'$ work. fru5tecs meei at a rninimum of four Council m¢etings each year. where review $trdtegy and operational performance and set policie5. 0￿ratin8 plans and budgets. New Trn5Lees are offued an induction proces5 to give them all the inf0rnati￿ they nttd atour the Charity and its work. In addition, Tru5tet training sessions are held &% and when needed. T￿sle¢S are encouraged to attend appro￿￿te extcrnal trainin8 events whcTC these will help their role. The Council del¢ga¢es th¢ exercise ot-¢et12in tasks In conneciiort wirh the managemeni and adminisvailon of the Charity as sei oui in a WTiiten lisi of delegated resp)nsibilitiC5. reviewed annually. Stattmtnt ofTrwttes' Responsibililie5 and Corporattcovernance The Trustees (who are also directors of warwicksh1￿ Wildlife Tnw for tht purposcs of company law) arc resp)nsiblc for pr¢paring ihe Twst¢es' annual repon (including the S￿a￿L¢ Rep)rt) and the financi￿ s&i¢ments for each financial year in ¥c¢ordancewirh appli¢able law and Unired Kingdom AccDw?iing S￿n￿a￿S{unIred Kingdom G￿¢T￿llY ACC¢p¢edA￿0￿iIin8 Praaice). Company law rcquirts the Trustees to wepare financial siatements for each financial year. Under company law, the Trustees must thoi appwove ¢he financial s￿emen￿ unlcss th¢y arc satssficd thcy give a ¢ruc and fair view of the state of aff2irs of the charitable company and of the incoming resources and application of re5wrces, includin8 the income and expenditur4 of the ¢hariiabl¢ wmpany for that peri(*l. In prepariog these financi￿ sthwneots. the Tnwees art required w: Select sul￿b]e a¢￿ting wli¢J¢s and then a￿11Y themconsisEerttly.' ObseThe the methods and wnciples in the Chwiiies SORP 2019 IFRS1021' Make judgements and esumat&s tha( arc reasonable ttndprudenl. whether applicable UK aceounlin8 stsndards have been followed. subjeci ￿ any matrrial departures disclosed and explairted in the financial S￿Ments. and Prepare the financial 5tstemcnts on the Boing conccrn b&%i5 unl&&s it is inarvropri*e ￿ prcsume the charitable compwy will continue in opernuon. The Trnstees are rtsiKJnsible for keepinB adequate accounting records that dis¢lose with trw)nable accuracy at any time the flnancial Posllionof the¢haritsble company andertablethem ￿enSur¢that(he rtoancial sw¢m¢nts ¢omply ivith the Componies Act 2￿6. They ar¢ also resp)nsible for safeguarding the assets of the tharithble ￿mpanY and h¢nc¢ for ￿kIng re4sonabl¢ StrP5 for the prevention and ddeciion of fraud and other irregularilies. Proccs5cs are in place as part of the TNst'5 Quality Mana8ernent System to cn5ure thal perfonnance 15 monitored and the a￿rOPriate managernenL inlonnation is prepred and reviewed monthly by executive mana8ement and regularly by the Board of Trustees. A pn)grdmme of interna] audits is in place, linked to a comprthtnsive risk ￿essMent process. The sy5tern5 of intemal control arc de5i8ned to provide assufdncc5 a8ainsL mthrial mi55tatcmcn( or loss. Thcy include.. A strare8ic five-ycar plan and annual budg￿ and work*lan aprKoved by the Trustte5" Rc8ular ronsidcrdtioD by the Trustees of financial resul￿ variances from budgeL non-fJnan¢ial perforniance indi¢*ors and ￿nchmarkIng reviews: Delegaiion of d0y-ts￿daY management OUt￿rity and se8reg￿lOn olduties; Ideniifi¢a¢ion and management of risks. Wanvickshire Wildlife Trust Ltd Trustees, Report- continued For the year ended 31 December 2023 S¢at¢m¢nt of Trnst¢¢s' R¢sponsibilitie5 and Corporate Governanet{eont5#ued) In so far as the Trustees areawdre: there is no relevant audit infornation of which the charitable company's auditor5 are unaware. and the Trusiees have (aken all ihe steps thar they oughi to have (o make themselves aivare of any relevant audit inforniaiion and to establish that th¢ ouditor is aivart of that information. The Trustees are resp)n$ible for the maintenance and integrity of the cor[￿rn￿ amd financial infornaiion included on the ¢hari12ble ¢ompany's websi¢e. Legislation in the Unitrd Kingdorn 8ovcrnin8 the rKqvdtion and disseminaiion of financial stakmcnts may differ from legislation in othu jurisdictions. Risk M8nag¢ment Inkrnal ri5k5 are minimisd by the implemeniaiiorj of a Risk Martagement Strategy. reviewed annually, and by pr¢xedure5 for the au(horisaiion ofall Lrdnsaclions and projects. Proccdurcsare also in pla¢¢ within th¢ Quality Management Syslern u) ensure compliance wth health and safety of staff. vOlUn￿er$. cli￿￿ and visiwrs and to minirnise our tnvxronmental impacts. Key risks inelude10$5 ofkey staff. ovtt4lyndcncy on a few income streams" managemeThi ofexpertdirure withtn budgtls; cornpetition from other charitse5', risks of memF*rship nUrn￿rs and fundTaising iowne falling- risks of non-¢omplianct with UK government le8j51ation, such &$ environrnental p>licy' and caTnpaigning associ￿ed reputhtional risks. Management have put in place 5y5tems and contro15 to mitigate thcsc Tisks such as HR procedure5,' iraining and Su￿¢s510n planning. developm￿1 of a rdnge of artivitiC5 and income Streams" and a mbuy restrvcs rKJltcy. Management L5 aware that risk rnana8emellt ￿TrOt entirely elimina￿ all risks th the Charity. Th¢ risk TegLMer wa5 fornjally updated and gppn)ved by ARC in 2023. P￿￿)1¢ Bettet The advancement of environmtntsl protection and Lrnprovtmenl is recognised as a charitsbl¢ purp)5¢ and is r¢8arded universally as prothicin8 a ￿bliC So￿￿. WaThvickshire Wildlifc Trust exis¢s ￿ promotr the ￿re and pro¢ecTion of the cnvironrnent and ihcrefore provides a clear public benefJL Thc Wildlife Trnst's philosophy is b￿d on the belief that the naturdl world dcserve5 con5crvin8 for its sake aThJ. since this is widely perceived w be a worthy aim of public policy, IL may fairly ￿ regarded &% a benefit to the ￿b]I¢ at lirgL However. the public b¢nefirs provided by Warwick5hire Wildlife Tn]st 80 much fi]rther. Firstly, our nature reserves ￿e used by the public. and many have access way-mark¢d rouies. Ai most 51tes infornation and interpretation is provided to visiiors. There are a few ¢8stt where there may be a c4)nnict between management re9uiremenLS and unfettered acccs5. where thi5 occur5. wc sLrtvc to kecp any restriaioths ￿ arnit)imun. Secondly. our edue4tion programmes are limed aL sch(K)l& colleg4 aduli gmup5 and the wider publio EAJuu¢Loll Is also. of CDurs4 recognised &8 a than￿ble adivity in its own rI￿L Thirdly. our infonnatloll 8athering and provision of expert advice and opinion ￿ local authoriii¢s and otheJs h¢lp5 to ensure that planning decisions are made on a rdtsonai basis rakirtg fijll account of the public benefitof wldlife. Fourthly. we can exert intluen¢e through our sub*antia] muDbethip at local l¢vel. and nalionally thou8h our membeTShip of the Royal Society of Wildlife TTUSLS. It is also OUT belief the involvemeni of many volun¢eers in our w¢)Tk provides an outlet lor altruisiic endeavn Reduction Strategy the Trust continu¢5 tt) rqxjrt annually on Carb￿ emissions for the Charity. Middlemarch, and Wildlife Fundratsing Central Ltd. These dats are shared with RSWT, are leading on a coordinated approached to carbon accountin8 across the whole rnovemeni. The third iteralion of the Trusi's greenhouse gas inventhry was shared with Council in May and shows that although there w&s some bounee-baek in ernissions following the Severe curtailing of Tru￿ activities ¢au*d by the pandemic, on the whole emissions remained lowet than in th¢ baseliThe year of 2019 with gcxyi Pro￿ towards reductng ernis5ions in aimoj 011 area The overall piciure, howevu. is ont whert this reduction is not in line with the proyd trajcctory. The bi88CSt challcn8e at present lth)ks to the 2mouot of bu&oess travel undertaken by Middlcrnarch as a ￿0wIllg organJs2tion wtth op¢ratiorts reliant on-51te Vi￿15 across the country. The Company has invested in cleantt fleel-vchicle4 which %ems to be making a difference in tems of fvel consumption. however business mileage in personal vehicles is incrwjrtg. Wblder Warwickshire.. our new land 12. Incorne divcr5ifLcation 2023 w&s a development year for the Tru5t'5 new rnajor d0t￿r programm4 leadinB lo revisions across our polLCLes Lo cnablc wealth scrttning in compliance with GDPR. and the developtnent of gift acceptance policies and due diligence processes. In th¢ rneantirn¢ 29 pr05P¢rt m¢¢tiThgs w¢r¢ held and plans 4ewardthip of a major leg*or and two n¢w major Ik)n¢ys w¢r¢ pui inio place. Tru￿ Nature SeTrices Lid {fmaJly wwr BNG Services L￿) began trading and worked wilh several new ¢ontacts and partners. A partnership with a landowler saw the firsl commissioning of work for bi(Miiversity net gain concept planning for 50 ha of mixed habitat near Wasperton. Ir) addits"on. Coventry City Council commissioned TNS to provide thtee BNG concepi plans and Proposals for Brandon Wwl Golf Course which will influeTr￿ the of th¢ site. 'I'h¢ ft¢w company is budgeted to mak¥ # shareholder reiurn to the Trust in 2024. 10 WArwick4hire Wildlife Trnst Ltd Tru$t¢es' Report- ¢ontinlled For the year ended 31 December 2023 13. Acquire Throughout 2023 the Trust invegigated the ￿tentIal of 615 ha oflond across 17 different SiW5. Bids were submitted for four - Nuneaton Road, Over Whiiacre118 ha). Loxlcy iAnd& Welleknurne (35 hal. Bascote. BaKote Heath (23 hal and Land at Long Lawford, Rugby120 hal. These h&J a total cumulative value of £3,517M but were unsu¢¢essful. However, this has had the effect of spreading the word within the local about the type of land we are interested in and in the autumn we were approa¢hed by an agcni offering an off-market sale. In December 2023 heads of tem)s were agreed for the purchase of 20 h? at Lon8 12wford which we will complete in early 2024 subject 10 contra¢t. We also continued lo pursuc thc purchase of Sheep Fic]d and the sheds from Tannx. 23 ha with a &adlin¢ agre¢d to complele in May 2024, 5ubjcct to legal advice. 14. Create An equal part of thc dialogue with Tanna¢ continued to sttk pemiissitsn for an agreernent to ¢reat¢ n¢w habitat at Brandon Reach through a thit1y-yeaT habitat enhancement plan. Tarniac refused ptrni*ssion for US to enter into a funding agreemeni wilh WaNickshiTe County Coun¢il meaning ihal we have had io ¢xplore other approaches with agreement closing on a commission for TNS. As so mueh time has elapsed thc necessary gjrvcys and olculatkon$ have to be repealed, with Tam instructing TNS io cany out that work in the spring of 2024. 15. Showc Through the launch of a wildlife friendly gardth competition at the Land￿ape Show at the NEC in Sepiember 2022 the markeLing and ViSi￿r centre ￿rn$ established a partnership with BBC Gardener's World to showc&se the winnin8 8arden desI￿S ai BBC Gardeners, World Live * the NEC in June 2023. The teams Worked with garden d¢sign¢r Vicky Lin¢oln lo create the Urban Oasis wildlife 83rden. rel￿ale it lo the Parkridge Nature Reserve with the help of the reserve team and volunteers. Thousands of pe(yle engaged ihe at the NEC. and it w&s a ￿eat opp)rtunity to spread th¢ word aboltt #Teamwilder and the xiions pts)ple Can thke in their own wdens to new audience Wilder Warwi¢kshire= other land 16. Action The Work futKled by National Highways at Corlty inbY)lYt41 contractors attempting to recrea* natural prwesses Caused by beavers and wild boar by ring barking tree& creating areas of distttrbance. felling trees. and creating scrapes. Alongside pond crealion this helped 10 restore the landscape character to the are4 and deliva significant biodivusity enhancement. The river and catchment tcam engaged with a farnier in the Alnt caichrnent io convert 2.8 ha of poor perforrning Ciopland into a devcloping species rich wet meadow and pool rnosai< as wcll as planting 0.2 ha Of orchards in the Fillongley connected landscape. W¢ secured £485,(MX) Nawral E￿8[and'S SFtei¢5 Recovery Fund. This will deliver habi￿¢ enhancements for wa￿r vole along canals in Coventsy and Nuneaton. suryey for white Clawed ¢rayfish using eDNA. instsll suitabl¢ n¢ging logs for willow tit a¢ross Tivers in Tame Valley Wetlatmls NIA. and cr¢aLe deeper prKJls within th¢ reedbeds at Brandon to imprtsve conditions for Bittem io breed. A traineeship po4 will be recruital g)on as pan of this ￿ndIng and to wpport ihe slaff delivering tht project. During the surnmer. the Sherbtsurnc Valley Project cornplded the firsr phase of the restordtion work in Lake View Park Coventry. improving the area arouTh3 one of the many weirs on ihe she￿oUrne. One of lis tributaric5. North Brook in Coundon Wedge. was rdumoj io its original route using a meihod called kage ztto restoration. Works were completed in early September and the projea featured on BBC Midlo0(ts Tixlay. The restM)Ths¢ from the public wa% overwhelmingly positive, Wlth people pleaxd ¢0 see ihe Brook now nowng thr(wgh this well-loved public open spav. Thc Tame Vallty Wetlands ieam delivt¥ed the seeond part of the B]￿h¢ Alive project funded by Severn Trent and the Environment Age#¢y on the Packington E*aie. The work complemenied ibe s¢rapes ihai had already been created and added rther in-rivcr features 10 help re-naturalise the area. The in-river works involve creating features ihat slow ihe flow. narrow Ihe channel, deflect water. and trap sedimtmt. Over th¢ coming years these iThterventii)ns will kickstart the process of improving the river wildlifr. Warwickshire Wildlife Trust Ltd Tru5tees' Report- continued For the year ended 31 December 2023 Another year of 'Making More Magi¢a] Meodows,, fuDded by Sev¢m Trent and d¢liver¢d through our Fam Cluster relationship5, has reslklted in a further 20 ha of species rith meadow being iestored. The gouTrd was Prepar￿1, sttd SOWTJ in September and (ktobei, and seedlings have already g¢nnin&ed at all sites. 17. Advice Our Warwickshire Fami CluA¢rs ¢oniinued to grow. with 110 farnjs now part of the three groups covering 22.650 h approximately I￿A of the county. Forty in pers￿ one-on-one advice visils were made io famiers during 2023 and 20 farniers were supported to make applI￿LI0￿S io the DEFRA'S Environmen￿] Land Managemeni scheme thai helps to fund them to manage their farnj in a more env1￿MentallY fn"endly way. As part of our Scvcm Trent A￿lCultural Advice project, we Visi¢ed 3 further 94 farnis, h¢lpin£ to unlock an additional £724:(KX) of Severn Trent fundin8 for farrnets to supp)rt measures to Tcducc pollution. 18. Advocacy Spegking with our bold voice. a5 part of the Wildlife Trusts ￿ater enttgy. we dialed up our ¢ampaigning in 2023, aciively lobbying government on a wid¢ ￿VIrOnMents1 agenda. This included callin8 for the scrdppin8 of the Rctained EU Law Bill and a successful call for HS2 Ltd to be compelled to Use the current. standard, national biodiversity meth¢ meaning the project has a much better than¢e of a¢hi¢ving real nel gain. We also lobbied a8ainst the artcmpts to scrap nutrient neytrality, which is Itss on an issuc in our are4 and celebrated the House of Lord'5 ¢k¢ision ￿ reje¢r contyov¢rsial attempts to scrap the legislaiion which protexts our wat¢Tway5 from further pollution. As part of our #DefendNaiure Campai￿ 154 p￿pIe in area sent [￿cardS to their MPS whil# rnany more twee¢ed their MP our website, and we achieved coverage of the Campai￿ 00 ITV. We highlighted the local elections to our supporters via email, Naiure News. and social medi4 10 encourage pwle to question candidates on how they would support nature. This led to 616 people clickin8 on the'5ee your candida*s' buuon amd a great open ratr of 41%. Stsff w¢re encourdged Lo attrnd'The Big On¢., organis¢d by XR (Extinction Rebellion) outside Westsninster in London. The eveni was promo¢ed on our chaijnels and attended by the wwr Y(wJth Committee. We rea¢h¢d outttTrour suprK)rteTS livin8 in S￿)uth Warwickshireandasked ihem ￿ ¢ommffiion the Local Plan consulthtion. Taking inspiration from the Team Wilder apwoa¢h our pl￿nIllg and biodiver5iLy officer wovided them with coniexi and inforniaiion to allowthern to make infonned decisions and to action individually for Theemail OF¢n rat¢ Wds 65¥0. which is significantly higher than tradiLional 40Y• Otth rates fore-cornrnunication5. IL lcd th a greater level of personalised re5p)n5e from I￿] people 8ivin8 a voice to natu￿ as rArt of sharing their views. 12 Warwickshire Wildlife Trys¢ TTllSte¢s' Report- ¢ontinved For the year ended 31 December 2023 Transfornations To help us achieve more space for natu￿ with more wpl¢ on nabJre'5 si¢k wc will undertske five transfoTmaiive acrims which will result in the Trust becoming a stronger and more effective or8ani5ation. l. Ali our charitable and commercia] in*rests The emergtrtceof a markei in biodtvcr5ity netgain and nature-based services h&$ txoughi the businessof ourtrading subsidiary, Middlcmarch Environmental Ltd, closer ￿ iht work of the charity wilh opportunilies w offer short-, medium- long-ierrn services Lo elienLs. The latier would likely be focussed on the Ion8-trrni manageincnt of land for wldlife M4hich mcans, where this occurs in Warwickshir4 Coventry, and Solihull. that cornmer¢ial aciiviry may tt¢ome an addilional means ￿ achievin8 our strate8ic objectives Wond the ¢s￿blIShed sharing of wofit with Middlemar¢h. Work on this has bten a feature of ihe charity-company relaiionship throughoui the year. with the firsi clients successfully contracied, and has complemented other work io further Strength£￿ and broaden the Culturdl and organiwional 8spe¢ts of the reI￿lOnShip. 2. Worki of ih distributal Wildlife T men #Teamwilder is aiK>U¢ emw)wering and enabling pujple ¢0 tske action for nature and the climat4 resuliin8 in berter decision Making for the cnvironrnent at the local level and acm&s thr four naitons of the UK. Everyone involved in Warwi¢kshir¢ Wildlife TnJsL 15 part ofthe wfeamwilder movement and this means that everyone is part of something bi88er.' a movemeni of p￿>Ple kkiTbg action (o help put nature into recov￿. In ourregion we worked ¢ollabor&ively with Wildlife Tntstsacross the River Severn Basin ￿ share bestpradi¢¢and exchange knowledge on river related delivery. Wc're continuing to cnwe organiwions like Sevem TrenL the EDvironmenl Agency, and Waicr Resources Wex • a straLe8i¢ l¢vel and fostrr cr055 county Project delivery and joined upworkin8. inn comrnuni in ni W¢ fvnded nine projects acr055 Coventry working with a range of pts)ple. With their grdni the Friends of War Memorial Park produced a. 11)0 things ￿ do in the park. iwkld and Culiure Coventry held workslK)Ps with Coventy Rtfu8ee and Migrant Centre to siipport a community garden space at the Herbert Art Gallery & Museum. We ivorked ivith Covtnrry Ciry Council on a citizcll s¢ienr¢ initiative- thc City Nathre Challen8e- with over 1,000 species observ¢d in Coventry and1088cd on 1-Na￿r￿15l. 2023 will se¢ the launch of thc Trust'5 own Creature count for Warwickshirt, Coventry and Solihull. A ntw #Tcamwildcr wcb5ite hub w&s crtattd to inspire and suppjrt pwplc to nab]rc. The hub include5 8 range of resources, lips and infotm*ion individuals. community grou￿ school8 and bu5inew to supportnature'5 r¢¢oYery. 4. Und mali We app)inred io a newly ueaRd role ofDats & GIS oificer in 2022. to ensure that all our deci5i0n making is bwd on strong data. This allowed us ￿ start devcltspin8 a'Baseline Data and Opwnifies Map. for the Actiott for Nature team that captures baseline data tn each ar¢? th¢ team has a wesen¢¢. that measuresour impaet &s we facili¢ale comrnunily action in 8reen space5 and thai can also be used ￿ identify strntr8iC S¢arting poinLS for wot*. We introduced a Digitrl Markering Offtcer role in¢0 the markding drive di8ityl innovation and ¢xplore n¢w ways of cnga8Ln8 1 in 4 people through online platforms. This h&s ￿lowed us ro start LO track, an￿Y5¢ and impTOV¢ th¢ performance of online campai8ns. A targe*d approach to the Big Wjld Walk saw an increase in i)arti¢ipants of 285% on 2021 sign up whi15t improvements ￿ online membeTship re¢rnitmeDI ¢ampai8ns have in¢reas¢d troffjc and Tedu¢¢d cost per¢lick. Developmeni work on A¢¢us Chariry CRM (fom)erly called ThankQ). the Trust's Customer Rcl*ionship Management System, continued through 2022 with the intrgrd(ion ofEvergivit)8, Wildlife Fundraising Central's online recruitment yTrrtal. This auwmation incre￿5 the efficiency of our membership rccruitment signifJ(3ntty. Online campaign5 continut to supwrt lead getheraiion and new audience engagemenL with email consent now held for ovtt 7.000 wann lead5. 13 Warwi¢ksbire Wildlife TThst Ltd Trus¢ee5' Report- continued For the year ended 31 Dtcember 2023 liverin e the sC￿e and divcrsi ffimdin The introduciion of a FUndr￿sIng and Philanthropy Mana8cr rol¢ maTk¢d the 5rarting t￿in1 for the d¢v¢lopmeni of a Maj tknoT programme which will build a of supp)rtus with the capacity for high level 8ivin8. Mernkrship piloL¢d ielemarketing campaigns aimed at increasing our gift aid de¢laraiions. The Programme SU￿￿￿llY increased gift aid per¢enlage by l* 10 86%. and broughi in several thousands of wund5 of additional income. Despite a difficult cconomtc year mtmbtrshtp ai the TnLSt Brew to 26,5(K> nJerrJbcr5 l¢ompared ￿ 25,400 memb¢TS at the end Of 2021) and individual 8ivin8 ￿ the Nature R￿0Very Fund apruj reached £120,000. Thank you to all our rnernber5 and those who have SIIPPDrtcd this appeal. Legaeies continued to demonstrate strot)8 ￿rro￿anCe in 202). We arc incredibly gTaicful ￿ those who r¢membetred the Trnst in theirwill. and whose le8acies will help 10 SUPP)rt naiuie's recovery and brin8 ourwildlife back. EnablingPrioriti¢5 We will work io four enabling wiorities that are the m05t importani foundations we need in place to achieve our goal of bringing wildlife Eéck. Da In 2023 we promthed the Great Big N*ure swv¢y wid¢ly to ettgjre that we received ert￿gh responses to make our local data statistically comparable to national data. We a]50 developed a multi-lay¢red map which Can overlay many &spects ofthe Trusi's work looking at ar￿ of crossover and opportwjities for morejoint working, as well as highlighting key demographi¢s. The Sherbourne Valley Projtct commissioned scanning of the pipe through which the riv¢r flows beneath the city cenire. This cutting.edgc t￿hnologY enabled us to fully map and phoiwaph thc culvert in dctail. The Proc￿ was a150 capturcd on fllm, which will later bc turned into augmented reality at kry Iwations throughout the city f￿nIng a largt part of knw we interpret the river it) arw where it is invi&ble. Working with pmers in the Natural Capital Assessmeni Prowme (prtviously cajled the Habitst BiL*Jiversity Audit projcct) we commissioned satellite irna8cry data c4>ture of Warwtkshire, Coventy, and Solihull. The satellitc irnagery w&5 captured at 50 ¢m re501ution ond was then ¢onv¢rted into UK Habitat Classification Sy#em GIS mapping d￿a which updated ihe field level habitat rnapping for the entlTe area in one season. though further validation from th¢ field will be necessary. The Tame Valley Wrtlands team used National Highways fvndingto ctsmmission conswltants to complete rn¢)rphology and ecologJea] surveys of the river Cole. The consultants outlined Opiions for dis¢ussion with key straiegic partners io develop the shortlist of projects that we will then fw)ding for. The SheTbovrne Valley Pro1￿ 4arted regular D￿nilor1nE of key sites u￿nE 3￿e￿¢ cameTa t￿hnologY to show habitat change5 over tim¢. 2. Organisational Inv¢stment Our IT c￿su[tan￿ Absolute Networks Lt4 were ¢[￿miSSIOn¢d WJ develop and deliver a project plan for a move io Mi¢rosoft SharePoini to support our digitsl transform*ion go￿$. This ha% been reviewe4 and 3 project group ha5 bccn set up to ov¢rs¢e the work in 2024. A Cloud-b￿ health and safety compliance sry51cm chosen after a review procw with a view to ¢nabling th¢ Trust to be much more proactive irt the managemcnt of its employees H&S Compliance. The Trnst eMb￿ked uport a review of its Cyber Security. t*hich is bein8 led by RSWT. The rcview will idcntify any weaknesses that need addre&sing. FollowÉng 3 relum to pre-COVID levels of Calls and enquirie& a new ph(rt call handling system wa$ Install￿ and is in use, enabling callers to the Trust toquickly bc able to ¥d thrOll￿ to the pus(fflld¢panmmt they want to sp￿k to. 14 Warwi¢lLshire Wildlife Trnst Ltd Trustees, Report- continued For th¢ year ¢nded 31 December 2023 A major inV&Sttnent was made through buying access io an online pl*forni ¢aJled Culture Amp which offers modules for staff surveys individua] appraisals with full ￿nfidentiality, e&5y repli¢ability, muliiple ways to analyse and pr¢s¢nt and draw on Tigorous social Kience. plus benthmarking within the UK non-PTofiI seaor and acro&s multiple otheT client T8anisations {6,000+). 3. Mcmbcrship We closed 2023 with 28.224 rneMb￿ finishing 4% ahcad of recNittnrnt targets and showing a 5.IQA Increase In cHJr membership base. Benchmarked against the moveme￿4 we ranked 4 highes* for rnembership ￿Qwth. wtth London WT, Scottish WT and BBowf ahead ofus. Retention t¢￿tinUeS io be excellent al 87Yts. New iniiiaiives have been trialled, such as a voluniary subscription Up￿ade. #TeamWild¢r Conieni has been embedded our membu fA)mmunicaiiuts aTyJ the Customu Relationship Management system is being used to analyse data to feed into strdiegic reporting for measuring levels of engagement in our existing supporter ba5¢. Data from the Gr￿ Big N*ure Suryey has also beet) mapp>J io help us under&and how people are aciing for nature. Irt 2023 we ￿tfullY rcccived the following le8acic5 to suPp￿t our work.. Ron Hill - £54,104, Katherine Mary Jephcott- £l,(K)O, Beryl Moppet- £5,0(KJ, Dcrck Morris- £5,¢￿, Mr and Mrs HeYw￿d - £4,238.64 Iflnal distribjtion), Donald William Higging)n- £59,456, Derek Alan Powers- £250. lan Lennox- £18210. The Trusi's AGM was held at the University of Wamck aThd f¢￿Urts] a series of tslks on species Teintrtyjuchons, including Kent Wry's bi50n. Derbyshire wr's beavers and wwfs domiic¢. The tvent w&s attended by 155 people- th¢ hi8he5t number ofaLtende¢$ ¥1 an AGM in the Trust's hisrory. 4. Communications 2023 saw a stcp change in our digital marketing activity with the intrrylu¢tioTh of a new strategic role to lead on this area of work. The r¢sulls have been ￿tstandINg, with a 34% increasc in signups for 30 Days Wild and a 242Yo incrcasr on Creature Count signups. SigDups for thc Big Wild Walk campai8n Showed a 137Y• Lncrcasc on thc PTCVIOUS year and the second highest number of shgnups of all Wildlife Trnsts. Lead genuwion campaigns have Increased m211ing list by 3.000 people and targeted paid social media Campai￿15 brought in 25 applicaiions to our Youth Coinmittee for 2024. the majority of whom had not heard of the Trnst but were inspired io apply after seeing ow adverts on Instsgram. Similarly, despi¢e the avid att¢n¢ion of recruiling agencies. all short-listed candidatts for the Director of Finance and Support Services role heard about the opportunity via FacelM)ok or Linked]n. 2023 saw a 42% incre&se of views on our s￿la7 media posts acri)ss all channel& frixn 1.6 million in 2022, to 226 nullion in 2023. (￿r 50¢ial media followng has increased by 6.3% over the year with an added 2.CKK> followers across a]1 platfoms. Website views in 2023 were 15% higher than In 2022, with an iThueas¢ of106,(NX) views over th¢ year 10 814,000. We revisited our digital offering for the mcmbership ma8azinc. 3nd a new platform ha% been researched. devel￿, and testcd with intcrnal user ￿0Up5. A str￿8 digit31 offertt)g ￿1[ help drive membership signups from new audiences and help us to build the digiial magazine readcrship. An improvcd USCT cxpericnce will lead to morc members opting to receivc c¢Jntent digitally. allowing us to reduce the number of printed mawnes we prthluce and improve our carbon footprint as a re￿[t. The ￿dU￿1 cosi of printing and distribution will also help usto savc rtKxw. The new plaffoTm will be rolled out in 2024. 15 Warwickshire Wildlife Trust Ltd Trustees, Report- continued For the year ended 31 December 2023 Flnaneial Review Financially. the GTOUP'S income increased from £10.856M in 2022 to £1 1.167M, Ivith ¢￿sts increasing to £1 1.329M compared £10.033M in 2022, leavtng a group dtfjcii for the year of £161.992 (2022.. £82J.247). Given ihe Wrlmjltht financial nature of the world at large and the (mgoing impaa of inflationary price pressure5 in partiwlar, these figurts are impre5SiV¢. Forthe Charity alone, incom< including Middlemarch's GiftAid donation, dtcrtased to £3.696M (2022.. £4.552MI costs increasin8 to £4.40 IM {2022.. £4.427M). Net loss de¢reLsd to £141.783 cornptred ts) £822.700 profjt in 2022. Overdll. the Tn]st'5 ineorne from eharitsble activities decreased by £721k. with grnnL& projects and other income increasing from £3.112k in 2022 down 10£2,39)k thisyear. and income from g￿era￿d fvnds4ecreasing fr(th £1,441k in 2022 to £1,307k thi5ycar,mainly dueLoalar8edecrca5ein le8acics.Subscriptions incTeastdkn£721k{2022-.£676k).withcoTporatr subscripuons remaining fairly S￿ble ai£4k in 2022 versus £8k in 2023. Legacies dttreased significanlly dwing the year from £342k in 2022 to £45K IM)wever these wll vary from ye4r to ycar. Visitor Centres inrtime detreased slighily during the year from £36¢X( in 2022 ￿ £256k thisyear. The ConLingen¢y Fund remained the same al£730,￿l0, in order ￿ provide sufficientcovcr foroperatin8 costs. Other amounts were redesi8natcd to othcT designated funds ￿ *Jp￿rt other charithble artivities. Middlcmarch EnvironrnCnt￿ Lid, OUT subsidiary ecological consultsncy o)mpony. pmdu¢ed very good results in the cont¢xt of the ongoing ¢ircumstan¢¢s of 2022, in what remains an incrwin8ly comWitive consultancy markeL wilh iumover increasing ￿ £7.470M (2022.. £6.304MI. While lo¢al exp￿dI1ur¢ inrrcasrd by £1.102M. the wmpany was able to account f comparable level of Bift aid to the Trust of £562k compared Lo £478k in 2022. The group's increased in the year by £299k12022.. decr￿Se £405k. Whi15t most of thi5 cash 15 earmarked for fijture project5. it nevertheless r¢nec15 a reasonably Strong ￿S][lOn for iK*th the Tnjst and Middltmarch, given the continuin8 Ovtrdll position of the economy in 2023 and the impact of events since then. Investment Policy The Charity's Tnvcstment objective is to optimi5e its return from its investsnents con515tent with a modcrafe level of risk and i( dors not knowin8ly invest in insiiiutions wth obje¢iives o)ntyary to its environmentsl policies. The Charity'5 policy 15 to idcniify c&sh funds surplus to immediaie neeth and investthesurplu5 in 5hort-tcrm investsnents. near fvttds and immediaie ash funds. Short-trrm investsnents represen¢ mottey ithrtiifitd as noi nttded within the forcsetable future and should be invested only in UK knnds with high credit raiin8 and for a period not excttding 12 months. Thr amoun¢S involved are restrictrd (o £100,0￿* per ins(ilU¢ion and 10 be spread throughoui the year to avoid concrnrration of renewal a¢tivity. Near Lzsh funds rcpresents moncy noi required in the immediare byi may be required in the for¢s¢￿ble future and should b¢ invested in institutions with minimal risk to capital and the availability of instant withdrawal. At pruenl tht CharLty tnvtsts the majority of its surplus fi]nds in a COIF account to M￿l￿7s¢ intrTest retum5 whilsi PToviding hi8h level of security. The COIF Charity Funds (Registered ChaTitics No's 21887318036101104624911093084) are Common inves¢meni and deposit fvnds and managed by CCLA. Other high-profil¢ insLiLutions are now being used to invest near fun]re cgsh fund5. Tmmedi* cath fund5 are held within the Charity's bank actouni and rerKesentsmortey that is required for itsday- day activilies. 16 Wanvi¢kshire Wildlife Trust Ltd T￿ste¢S. Report- continued For the year ended 31 December 2023 From March 2021, the charity Iounchtd a Rt£overy Appeal, led by the charity's membership and marketirtg ¢cam. Accordin8ly, th¢ ¢harity Is re8i*r¢d wth the Fundrnising Regtsla￿r. Ivhi¢h Conf1rn￿ ILS C4)mmilment w good fiJndraisiDg praeLice by foll¢)wing the Code of Fundr2i5ing Pwiice and the FuDdTaisirtg Promise. Th¢ chariry did not employ the swvices of a third party for its fundraising aaivilies irt the year and is not aware tha¢ theff have been either any failuffs of compliance or any complaints from membets of the wblic. The rharity is to ensuring ethica] waciic¢5 are followed and in particular, lo protectin8 vulnerable and otherrnemt¢rs of the publi¢ unreay)nable Intrusion, persistence or pre5sur¢ when soliciling donations. Rese￿e5 Policy The Tryst¢es believe ih* the Charity should hold financial ￿erVeSbe￿usc. l) It has no incorne from endownent funding and is eniirely dependent for inry)me on membuship, donalion& grants. and legaci¢5 which ￿ vary from year ￿ year. 2) Il rcquirr5 Ffotection a8ainst unfore5eeTr setbacks and the ability to coniinue operations despite these circum5tsnces' 31 It requires the ability to be able to t￿e advanfa8e of chan8e and opwrtunities to further its objectives. The r￿J￿ceS believe that the minirnum level of unrestricted reserve5 should be thc equivalent of 2 months, operating costs calculated and reviewed annually and belicvc that the Ttserve5 should be buil( up to the dcsired level in 5ta8es consistenl with the ch￿ity's overall financial sx)sition and its needs to maintsin and develop its tharitsble activities. At the cnd of 2022, the Coniingency Fund was Main￿l￿ed ￿ give continued covcr lo rx)5ition of the Charity in wh& remain uncctsin tirnes. At the year end thc Charity had EndDwmeni funds of £1.652k12022: £1.662k)' Restricted funds of £416k12022.. £430kl,' Unrestricted de5ignaled fund5 of £4.782k12022.. £4,783kl and Unrestricted fwi& of £664k (2022.. £782k). The charity also has control over a non-charitable fvnd of £lJ75k {2022.. £lJ96kl. Employees The Charity Sup￿rts equal ON￿rtUnItI£5. The Tnjst's staff operates wmarily from its headquarters office at Brandon Marsh Natu￿ Centre with 50rne out-￿Sted 5tsff in the Parkridge Centre &)lihull and Environmental Swdie5 Centre, Hams Hall, &5 well &s rented 0￿]CeS in WarwiL*. Staff of Middlemarch Environmentsl Ltd operatr from rentrd off1¢¢5 ne8r Milli50ns W¢)od on the outskirts Of Covcntry. Durin8 2023 thcre w&$ a totsl of 207 nff. including 75 at the Trust and 132 at Middlemarch Environmental Lid (2022.. 185, spliL 75..1 10). Pay poliry for seniorstsff The pay of the senior stsff is reviewed by the Audii & RernunerdLion Committee (at le&sL annually) and nornlally Incre￿ed in lint with averdge earning5 or review against perfornion¢e objeaives. In view of the nawre of the Charity, Ihe mistees benchmark againsi pay levels in othcr region￿ tharitie5 of a5imilar size. Pensl•ns The Charity operates a Group Perninal P￿slon scheme. whtte minimum contributions of 4.5% from employees are matrhed by Contributions ol between 4.5•/• and 6% from the Charity or its ¢radin8 company. The schcmc is optional to all staff oncr they have completed a prob￿LO￿ary perio￿ aftd IranSW￿l¢ slKsuld they leave. 17 Warwickshire Wildlife Trns¢ L¢d Truste￿, Rep)rt- continued For the year ended 31 De¢ember 2023 Many Th4nk5 WaTwick5hire Wildlif¢ frust is your organisation and as such is the naturdl home for all those who care alxTrut l(Kal wildlife, wild places. 8eolo8y and the natural cnvironmenL Our work is VI￿ - il's imrM)rtant for the intrgrity of the na￿rnI world on our doorslcp. The quality and hvdlth of our narunl envrronment rs Im￿rtant forour health And wellbeing- and for the futrjre of society. the economy, jobs and grou4h. The TtNst works hard on cvcryone's bEhalf for local wildlife and local people and we can achieve nothing without the SUP[￿rt of membus-and the hard WO￿ and dedicaiion ofail of our volunieers and S￿ff. We would like to offerour Wdnn thanks Sincere Bratibjde to everyone who h&5 contr11￿ted ts) ouractivitie5 and succ&%s in 2023 and, mostof all, for helping make Warwickshir4 Covcntry and Solihull a Fxtter place w live and work. We Can be jumifiably proud of wh* we are achieving. Keep up the SUF*b work in 2024 and thank you for being a partof ii! In approvin8theTTUStees' Re￿)¢We8150arVfQYeth¢ Directors. Tel￿rtinC1uded therein. inourcapacity &scompany dircctOTS. Beth Nicholg)n air Tom t)o¢keJ Man4irtg Dire¢tor, Middlemarch Chief Execuiive Signed on behalf of th U5tte5: Date: 25 J*mt 2024 Beth Ni¢ho150n Ch2ir 18 Warwickshire Wbldlife TThst Ltd Trus¢ees' Report- continued For the year ended JI Dtcember 2023 Man&Eement of the Trn$i 2023 COUNCIL OFTRUSTEL8 B Nicholson M Wrighi {apposnied 4 Dec•nt*r 2023) Dr M G M Randall C P Waring Ire5igned 20 June 2023) M Bunney (resigned 20 June 20231 K M Reeve {re5iBned 20 June 2023) J McKenzie D McATdlc Dr H I Brtitain A A Gabbi Dr S Juncd L Wilbrzham G Littcrick C Reading M Sanderson N Rawlinson lapp)inicd 27 July 2023) D Male lappoinied 27 July 2023) M Hughes (appoint£d 27 July 2023, rtSi8ned 05 Awil 2024) Chair Vi¢¢ Chair Chi¢f Execulive Dr Ed Green MIDLEMARCH ENVIRONMENTAL LTD- BOARD Jonathan Bird Torn Docker Terc5a Bou8hey {apw)inted on 19 Fcbruary 2024) Helen Rushton {appoinLed on 15 April 2024) Harrison Barton Rodnty Aspinwajl DT Ed GTeen John McKenzie Duncan M¢Ardle Fiona White Dr James Hildreth Karen Davies {Company Secretary) TRUST SOLICITORS Wri8ht H&wll LLP, LeamÉnBton Spa TRUST AUDITORS Saffery LLP we51r￿)in( Pderborough PE2 6FZ 19 WarwiCknhi￿ Wildllfe Trust iAd Independent Auditors Report to the Members of Wan¥i¢kshire Wildlife Trnst Ltd For the year ¢nded 31 December 2023 Opinio We have audited the financial stsiemenL% of Warwickshiie Wildlife Tnw Lid (the 'pateni charitable ￿MpanY') and its subsidiary (the 'group'} for th¢ year ended il Deceml*r 2023 which ￿mpriSe the Ccffisolidated S¢atemertt of Finan¢ial Activiti&8, the Con501ida*d and Parent Charity Income and Expenditure Accoun￿ the Group and the Parent Charity Balance Shcel the Stalemeni of Cash Flows and Consolidated Ststementof Cash Flows and noirs ￿ the financial staiements, includin8 518nifJcant accounting pollcics. The financial rep)Eting [￿m￿York that has bcen applied in thcir prepardtion 15 aFvlicable law and United Kingdom A¢¢ouniinE standar￿ includin8 Financial Rwrtin8 Standard 102 The Financial Re￿rting Standard applitable in the UK artd Rewblic of Ireland (Unitrd KinB(kJm Gtnerdlly Accqknl Accounlin8 Practice). In our opinion the financial statcmcnts.. give a true and fair view of ihe stste of the group's and th¢ parent charithble company's affairs as ￿ 31 December 2023, and of the group'5 incoming re50urccs and application of resour¢w including its incom¢ and expenditure. for the year Ihen ended.. have been proper]y prepared in accordance with UnireJJ Kingdom Generdlly Accepted Accounting Practice" and have been prepared in accordance with the rwuir¢rn¢nrs of the Companies Ad2006. Basis for•pinioD W¢ ¢ondu¢ied our audii in accordanct with International Standards on Audiling IUKI (ISAS IUKI) and &ppli¢2ble law. Our re5pon5ibilitie5 under those 5tsndard5 are fi]rther dcscrilxd in the Auditor's resw¥nsibilitics for the audit of the financial statements stction ot OUT report. We are tndepcndent of the grnup and paren¢ Charitable ¢omparty in attordan¢e ivith theethical requircmcnts that are relevanl lo our audiiof the fiii3ncLal slatements in the UK, includin8 the FRC'S Ethical S(andtrd. and we have fulfilled our other ethical re5wnsibilitie5 in accordance with these requiTtsntsits. We believe ihat the audit evidence we have obthined is sufficient and appropTiatr w provide a basts for ouropinion. C•ntlu5i•ns rtlAting to Eoint tollt¢rn In 4uditlD8 the fLnan¢iaJ StsteMen￿ ￿ have wncluded that the Trus*es' use of the goit)g concun basis of a¢countin8 in thc preparation of the financial statements ts approKvia*. Based on the work we have wfomied. we have noi Id￿vrIed material unCert￿ntIeS relatin8 to events or conditions thaL individually or collectively, may c¥1 si8nificant doubl on the 8roup's or parent charitable comparty's ability io continut tr) &5 a 8oin8 concern for a period of at Ic4st twelve months from the d8* then tht financial sts(ements are authori5ed for issue. Our resTx>nsibilitics and the re5Fonsibilitie50f the Trustres with respea to going con¢em ar¢ d¢5ryibed in the relevant sections of thts report. Other infon#atio The oiher informaiion comprises the infomiauon included in the Tru5tt£s' Re￿r4 Oth￿ than the financial s(aiemeots and our auditor'5 re￿rt therron. Thc Tru5*es are resw>nsible for the other infonnation cOn￿n¢d within the consolidated Iinancial slalemenis. Our opinion on the finan¢1￿ sraLanenL5 IkJ¢s nol cover the othu Inform￿lon and. excepi to the exmt otherwise £xplicitly statcd in our rerrf)r4 we do not express any fonll of assurdn¢e conclusion therry)n. Ovr r¢s￿nSIbIlIty 15 to read the other informarion and, in doing so. consider wh¢th¢r the other infornation is fflatrrially inconsistent with the firtan¢iai 5taltrn¢nts or our knowledge obtaincd in the course of the auditOT otherwtse appea￿ ￿ be moieria]ly missiaied. If we identify such material it)cortsistrn¢ies or aFprent maLeria] misslalemenw wt are required to dctermine whether this gtves rise to a material misstatement in the financial 5talements thcm5clves. Ir. based ort the work w¢ haveperfornied, %vcconclude that there is a material misststemeni of this other ijjfomiation, we are required to rqxjrt that facL We havc nothin8 tts rewrt irL this reB¥ 20 Warwlekshlre Wildlife Trnst Ltd Independent Auditors Report to the Members of W*rwickshirc Wildlife Tru5tLtd For the year ended 31 December 2023 Other matters preseribtd by the Compaffjl¢s Aet2tlJ6 In our opinion based on the work undcrtaken in the murse of theaudiL the inforni*iongiven in theTru#ces' Rep)rt{inconJ)rn(ing the stratrgicrep)nand the dir¢ctors' reprrt) for the financial year for which the financi￿ sth*ments are wcpared is con5isLcnt with the financial ststrmer)w and the Sty￿e81¢ Teport and the d1￿CloTs, rewt have bcen wwared in accordarJ¢e with aFvlicable legal )HutTemeDts. Matters whitb we ar¢ rtquirtd t• ¥¢port by exttptio• In the15ght of the knowlcdge and understandin8 of the group and the FHreni charitable company and their environment obtained in the course of tht audi4 wt have noL ideniified m•erial missta*m¢nLS in the Twstres. Annual ReFk)rt and Strategic Report. We have nothing to rewrt in respectof the followingmatters in relation towhich theCornpaniesAct2(K)6 rcquires U5to rcport to you if, in our opinion.. adequate accountin8 records have not be¢n ky by th¢ parenl Charitsble comF4ny. or Tttums adequate for our audit havc noi been received from branches rK)i visited by us" or the parent charitsble company financial stsiements are noi in agreemeni wth the ac¢ouniing records and retums. or cerlain disclosures of dire¢roTs' remurteraiion specified by law are not m*J¢or we have not receiv¢d ajl the infonnalion and expl￿￿10n$ w¢ require forouraudiL RtSPOnsibilities of TThstees As explaincd rnore fully in the Tru5ttts' Reswnsibili(ics Statement 5Ct out on p38e5 5 to 6. the Tru5tccs (who are also the dircctors of tht partnt charitablt company forthe wtp)ses ofcomwy law) are responsible for the preparation of thc financial siatements and for bring satisfied that thcy 8ive a true and fair view. and for such internal control as the Trnstees drtemine is ncces5ary to cnable the Txtparalion of financial ststemtnts that art frtt fmm M￿trial mi&ststcmenL whaher due to fraud or error. In preparing the finat2oal stsiemenw the Trnstees are resp￿sIble for assusing the group's and parent charitsble company's ability to continue &$ a 80in8 conccrn. disc105in& &s applicable, marters related to goin8 conccm and usin8 ihe 80in8 ctsncern basis of accounting unless the trustres either irtthl ￿ liquidatr the gmup w the pami chariTable company or lo ce&se operation4 or have no r¢ali5tic alternative bui to do so. Auditor's rtspon$ibilitie5 fur thc *ydit of the fin¥Dri115talemewts We have been apFaratrly from the Ttit5t in independently administered fund5. Expenditure is alloeaied ￿ aaivities and funds der￿dell[ U[￿)n the staff membcr5' time 5penL Volunteer Help The Trust receives support from a wide variety of volunieeTS. li is not Praaical w platt a value on th¢ time volunleered by all th¢5e person5 due to the varicty of dutie5 p¢rformed. the differencts in time stthi and the sheer number of volun*us who gave (heir lime. Fiyed Assets Deprecialion is not provided on fTechold land which 1$ ¢onsideTed ￿ have a useful life of more than fity years. Depreciation has been provided ot) buildings which comprist construciion of tht fn]5L'5 headquartU5 and the Visiior CcmtTes at Brandon and Brueton Park at a Tate to WTite off the assets over the term of th¢ leasc. Equipmtnt COSLin8 Itss than £l,IK)O individuaj item is written off in the period of acquisition. All other cquipmenl is capitalised a( cost. Cost includes costs direcuy attriiwtable w m*ing th¢ assel ¢apable of 0￿ratIng inttnded. Amortisaiionl depreciation is provided on intangible and thn8ible fixed assets * raies ¢alcul*ed to each &s5ei down to its estimatrd residual value evenly over its expected useful lift, follows.. Motor vehiclts 33% w annum Equipment Traciors 15% w artrtum Compuw equitrni COmpu￿r software aT￿￿rn 10% to 25Y• ￿ annum S￿￿ per annum Investments Fixed and current &sset investsnents arc statcd at historic cos4 net of any impa1￿c￿tIOssc￿ Operating ￿Se$ Rentals payable Underoper￿l￿g leases are charged ￿ the SOFA over the period in whith the is incutrTed. Stoeks Stocks are valued & the lower of cost and real1sablev￿U Deftrred T8Xatio Deferred taxation is provided in full in rtsrKdof ￿xatI￿ deferred by timing differences bdween the weauneni of certain items for wation and accouniing [wpo￿. Thedeferred w balance has not kn dixouThW. Financigl IDslrum¢nts The Trust only h&s financial &55cts and liabilitlC5 of a kind that qualify a5 b85ir rtnancia] insiTumtmts. which are initially rccogni5ed at tran5a¢tion value and sub5cqucntly measured at thcir seulement value. Crltleal Accotythtlhi Estimates •lldJuditmeknts To be able to prepare financial ststemcnts in acconlancewth FRS 102. the Chariry mustmske certain cstirnatesand judgements have an impac( on ihe p)li¢ies and the amount reported in the annual accounts. The estimates and judgements are based on histori￿] exp¢Tiences and other factors in¢luding expe¢tsiion$ of fvwre evenrs thai are beli¢ved ￿ be r¢asonable at the time such &I(ima￿s and judgements ￿t made. 28 Warwick8hlre Wildlife Trnst iAd Note5 to the Financial Ststements For ihe year ended 31 December 2023 Net lTrcorne from Trading Activiiies ofSub5idiary The Chari¢y has a wholly owned trading subsidiary, Middlemar¢h Environmenfa] Limited (company number 025939081, ivhich is inwrtrf)rdted in the UK. The principal aciLVLty of Middlerndrch Environmental Ltd is to provide ewlogicAI ¢onsulw)cy service& The comkmny pays aprop)nion of its tsx8ble profits to the Trustby way of Gift Aid. A summary of thcir tradin8 r&sults is SI￿￿v￿ bElow. A￿dI￿d financial ststrments are filed with the Registrar of Companies. 2023 2022 Turnover including £nil intercompany (2022=£nil) Cosi of sal Gn￿5 profit Other operatin8 ino)me Other operating expenses 7.494.744 (463,382) 7,031,362 6,304.080 522610 5,781.470 (6,460.7621 {5,283,5651 Net profit Taxati¢)n 570.(A)O (3.657) 497,￿5 119,358) 566.943 {562.0641 478,547 1478,000) Gift Aid donation io Warwickshire WildlifeTrust Retained in Subsidiary 4.879 547 Aggregatr assets. liabiliiies and fibT￿S 1,400,816 .396,037 D•nation5 and Legaties lTrcomt Unre5trided funds ReArictrd fuuds Total 2023 Total 2022 A$ restated 676,Ol4 4,048 87J37 160.701 342,898 Sub5CTiPtion5 Corporale subseriNions Donation5 and gifts Income tax recovered undu gift aid L¢gacies 721,019 8,3(K> 67,898 160,052 45.413 721,Ol9 8,300 67,898 160,052 45,413 I.IK12,682 i.(M)2.682 1,270,998 2022 compardtive5 include re5tTiCted donations and legacies of£lS.869 and unrtstricted donations and le8acies of £300,804. Donations and 8ifts include a donation in ki￿1 of freelK)Id land of £nil (2022.. £nil). Warwickshire Wildlife Tryst tAd Notcs to the Financigl St*¢ements- continued For the year ended JI Dtcembtr 2023 3. ChArit•bl¢ A¢tiviti¢s Imcorne Umrestri¢t¢d Funds D¢signAted Undesign4t￿ Rt5tri¢ttd E¢bd•wmtnt [￿#d$ fund5 Tol*l 2023 Tolal 2022 A$ restated Visitor centrts Rcserves and cotnmunity en8a8ernent Ltving landsca Habithi biodiverstty audii Health and wellt¢in8 Developmcnt strategy Nauxre recovery str*epJ 255.096 22.304 255.096 225.895 360,072 403.642 203.591 9,525 l J29,364 143,570 108,423 84.024 1,338,889 143,570 108.423 318.380 1,912,291 103,533 282,077 46,129 234.356 521381 IW972 2J90353 3,111￿77 2022 c￿Mparal1VeS includevisi￿r centyes, in¢omeof£359.712 in unrestricted funds. All other itjcomewasrewrded ivithin restricled funds. 4. Other Tradiag Adivities Intomt Uthr¢sirirted Fuuds IksienAted UTrde$ignat￿ R¢stricted Endowment fuNds fund5 rund5 funds Total 2023 Totsl 2022 Subsidiary tradingcompny Fundrai5in8 7,470244 105,420 7,470,244 105,420 6,304.080 121,828 7J7S664 7￿7￿61 6,425.9118 All other tradin8 activities income in 2022 wasunrestriaed. S. Ratslng F￿ndS Expethdliure Uthr¢siri¢t¢d fytyd5 De5igllated Unde5igTrattd Restrided ETrdowmtnt fvnds fuNds funds f￿ndS Total 2022 21123 Marketing undraising Membership servicing Subsidiary trading company 221.472 96.194 539J40 6 928 389 221.472 96.194 539,340 6 928 389 178,522 427,330 5 825 533 7,78SJ95 7.785J95 6A31J8S 2022 comparativts include markrtin8 costs of £45.6l5 and mcmbcrship servicing ￿$ts of £109.189 in unrestric*d designated fun¢L%. All othcr expenditure rel￿rded within unrestricted undesignated fund& 30 W9nvickshire Wildlife Trnst tAd Notes to tbe Financial Statements-tODtinued For the yar ended 31 December 2023 6. Ch*ritible Adivities EApeThditMre u￿r￿trIcted fvnds Dcslgnaitd Uthd¢slgnated Restricttd Endownjeni funds f¥nd$ ds Total 2022 2023 Visi￿r centres Reserves and community en8a8¢menL Livin8 landscapcs Habitat biodiversity audit Htalth and wellbeing Developm¢nistra(egy Naturc rtcovery strategy Governan¢e costs Voluntrer costs 373.930 383,079 25.443 10.147 409,520 710,459 273.035 844,432 327J80 356,189 35,578 84,454 I￿.910 l J28,947 132,570 134,548 173259 1.685,136 168.148 219,002 274,169 1,835,787 103.5J3 355,107 136,819 13,406 6.250 33,431 23.500 53,712 23.5(￿* 53.712 ,411 J52 2&443 2.09&704 1•.147 3543h46 3,601,8(￿1 2022 comparaiiv¢s include Visilor ¢entr¢s' costsof£132,770 in unrestrl¢￿d undesignated fvnds 8md £l1.021 in endowmeni funds- ReseThes and Community engagemeni of £581.184 in rcstricied fund& Living landseapes costs of £1.671.641 in re5triaed funds. Habitat biodiversity audiL costsof £103533 in r¢s¢ri¢ied funds. Heajth and wellbeing ¢osts of £256,876 in restricted tunds- [kvelo￿n¢rtl sit0￿&Y costs of £136.819 in restricted funds. and Volunieer costs 01. £33.431 in unrestridcd undc518na*d funds. All other expenditure was recordtd within unre5lricted dcsigna*d funds. 7. Total reso¥rce5expended Total 2023 Total 21122 Stsfft•5ts DepTeti¥tiow Other costs Direet chariiabltexpendiiure Visitor¢enir¢s Expenditure on raisLII8 Volunteu Costs 1.871,668 237.892 422.349 42.859 31,411 10.147 ,177.335 161,481 434.657 10.853 3,080,414 409,520 857.006 53.712 3,295,334 273,035 605,852 33.431 2J74.768 41 J58 1.784J26 4.4(W).652 4.207.652 Middlemar¢h Environmen￿1 Limi 5,209.837 81.805 1.169.120 6.460.762 5.825.533 7.784thOS 123J63 2,953.446 1•061.414 10.033.185 2023 2022 Total Te50urtes expeaded art Stated afttr ehxryiThFI {cr¢diting)- Directors, remuncTation Auditors, remuneration Depreciaiion Amortisalion (Profity loss on sale of r￿eda$St￿ Amounts payable under oper￿Ing le&sts 416,959 275.164 48,050 123.363 15.436 {7,969) 130,217 11.5¢XI 134.624 6.301 {35.458) 135.466 31 Warwickshire Wildlife Trust Ltd Notes to the Financial Statements- continued For ¢he year ended 31 December 2023 8. Staff Costs 2023 2022 Wagcs and salaries Social security costs Pet)sion costs 6.890,167 5.363,831 520,198 375,821 605,859 288,579 7.784thO5 6.259J50 The avu4e numberofemploye4 analysed by ￿n￿lOnWas. 2023 No 2022 TTUStactivitLe5 Fundraising and publicity Management and administration Subsidiary trading wmpany 56 58 10 132 2•7 185 The above average ttumbtr of employeescomprise Warwickshire Wildlif¢Trust Middlemar¢h Environmental Limiied 75 75 132 207 185 The following mcmbcrs of the Council of Trustecs rettivtyj r¢muner*ion during the year for duli¢s as non-executive directors of the tradin8 company: J McKenzie D M¢Ardle £7.256 (2022= £6.992) £7,256 (2022= £6.992) All other membtts of the Council of Trustres aa in an unpaidwity. Orte (2022: One) Trnstres received exptrw in 2023 of £478 (2022: £65) r¢l*inB to travel. Key managemeni are consider¢d to be th¢ Chi¢l Executive Officer. the Financi￿ Controller of the Charity and the Ex¢￿Ilve Direciors of the tradin8 subsidiary. The ￿[al employment l*nefits including pension conthbution5 of key managemeni personnel was £454,474 (2022.. £363.573). 32 Warwickshire Wildlife Trust Ltd Notes to the Financial Sta¢¢ments- ¢on¢inutd For the year ended JI Dc¢ember 2023 StAff Costs (cuwlillued) Higher pald $t•ff Employce5' remuneration (excluding F*nsion Cffitributi(KisI irt excess of £60.1￿ for thc year fell within the following bands.. Cb#rity Trldittg CoMpa￿Y 1023 2022 2013 2•12 £60.001- £70,000 £70,001- £80.000 £80,(X)1- £90.OIX) £￿,{K)I - £lOO,tKhJ £1 10,001- £120,(K)O £120,001- £130.Th)0 All of the hightt pad s(aff exceptone are ernployed by Middlemarch Envimnmentsj Li4 thesubSidi￿ undertaking. One (2022.. One} charity employe¢ re¢¢iv¢d remwi¢NLon in ¢x¢¢s5 of£60,(KX). Highest paid dirtttor15ubsidiaryundertakiDg) The highest paid dirrctor received £124,175 (2022= £110.345) and had £5,092 (2022= £4.371) addcd to their pension. 202J 2022 Pension contributions in rtSPtL% olth¢ atov¢ employttsare 36,317 31,293 Th¢ nurnb¢r of employees accrutng retimnent bu)efits incltyknj atKJveis The number of diT¢¢WS ￿ whom retiremeni benefits are a¢¢rning und¢rd¢finrAI ￿trIt￿tion schem¢5 amounied to 4 12022.. 4). 9. Pethslon Arramgethtwts Th¢ Trusi operdtes a defintyj contribulion Group Ptssonal Pthsion Scheme open w all employees. Contyibu(ions w the scherne are chaTgtd to the accounts &5 they fall due. Totsl amounts paid in the year were £391,081 {2022..£375,821). 10. Taxatlon The tsx charge on the profit for the ytar &sfollows: 21123 2•22 Current t&K Irhar8ed at IVA).. UK Corporation (a¥- adjusthient re: wevious year D¢f¢rr¢d tsx Il856 5,030 14J28 (9,199) 3h57 19J58 The aEses where (hc funtsor donor ha5 imposrd restriciions. The tr3n5fers to designated funds originate from tharity surpluses. 21. Deslgnated Funds Movtm¢nt ITr Ruowr¢ B*l#thet 31 De¢ 2022 B*lance 31 Dee 2023 Outgoing TrAn5f Charity Projttts Fund Nature Recovery Fund Inf￿stn]CtUre Invtstsncnt FuThJ Contin8ency Fund 1,010,649 2.542.(￿ 500.( 730.(KKI 1.010.649 2,542,000 502,325 730.0(N) (25.4431 27,768 4.782,649 (25,443) 27,768 4.784,974 Thc transfers to deSigna￿d funds origina* from donations undu Bift aid from the charity's subsidiary companys Middlernarch Environmental Limited. and charity surplusrs. 22. Unde5igTrated Funds Movernent in Re50urtes 31 Det 2022 31 Dec 21123 o￿tgoIng TrA•sf As rtsl*tsd 782.279 I J95P37 Unrestrirted fund Non charitable fvnd 1,803,333 {2,243,858) 320.348 662,102 7.494.744 {6,952.889) 1562,064) 1,375,728 2.178.216 9.298.077 (9.196.747) 1241,716) 2.037.830 Warwickshire Wildlife Trns¢ iAd Notes to the Financial Statements- continued For the year ended 31 December 21)23 23. An4ly$is of Group Net A55¢t$ B¢tw¢¢n F¥Nds N¢¢ T•hEibl¢ Curr¢ttt Fixed Assets A55ets and PT•YiSiOnS Tolal Endowm¢ni$ 1,651.961 1,651.961 Rostrldtd funds 416,164 416.164 Designated fund5 4,784,974 4.784,974 Unre5tricttd funds: ChaTitsble NonrfhaTitsble trading 485.858 196,193 682051 176.244 662.102 1.179.535 1,375,728 355.779 2 037.830 Total 2J34.012 6.556.917 8.890.929 24. Gu￿raNtee5 aud other finaneial eommitrnents Al 31 Dccembcr 2023 the fu(UTe minimum le￿ paymcnts undcr Th)n￿An¢t]Iable ormLin8 Ica5t5 were &s follows.. 'Group Charity 2023 21122 2023 2022 Lsnd and buildings.. Expirtng wi¢hin on¢ year Expirin8 between two and flve year5 255(￿1 27.(K4) 255(Kl 27,(￿#) Other equiprnrn(= Expirin8 Wlthin oneycar Expirirtg between two ahd fivcyeaTS 97,541 98.727 93,29) 75.915 196.268 169.214 25. Tr4n$fer5 betwttnfvnds The Twstees have this year designaied by way of a tsansfer frorn unresiricted Unde518na￿d fund5 £241.716 (2022.. £lJ31,574 as r¢stal¢dl with transfer5 mode ro unresthcied designaied funds of £27.76812022- £1.(63.3421. and £213.948 to res¢ri¢*d fiJnds12022.. £268.232 as restated). Transfers have bccn made ￿ earmark. funds for srKcific future planned actLVlti¢s and to cn5ure various funds do notgo deficiL 26. Members, guaranttt The company is limired by guarantee and thes [￿1 have any slthre ¢apithl. The liability of each member is limited (o £1. 39 Warwickshire Wildlife Trust Ltd Notes to tbt Financial Stotememts- continued For the ye4r ended JI December 2023 27. C•pk¢o1 Commitments As at 31 December 2023. the Tn]st had no c4yithi cornmilments (2022..£nil). 2& Condnttni Llabllltlts The Tnjsr Council was noi aware of ￿Y Coniingeni liabÉliiies at the Imlance shed dat¢ (2022= £nil). 29. Related Party Tr*nsxttloos Key management remuneraLion is shown in the weceding no￿ to these financial 51atements. There ore no fvrther relat¢d party tyansa¢uons thai requirc disclosure. 39. Re￿nCIlIation of n¢t movtmets¢ th fv•ds to n¢t eash flowfr•w operatiTri #etivitt Group Cbirity 21)22 2023 2022 2023 As rtsl*ted As restated Net movemeni in fijnds Add back ￿ charged Deduct amortisaiion of endownults Add back d¢pr¢rialioTh charge Dedu¢t inLerest income slm¥n in itw¢4irtB activitie5 (Profity loss on sale of fJx¢d In¢reas¢ in SLo¢k (Incrra5ey decre￿ in debts)rs (De£rease)l increase in Lyedhtors IncreaseJ(de¢rease) in provisions (161,9921 3,657 823.247 19.358 (131,6361 833.721 (10,1471 41,558 138.799 140,925 52.520 (198,450) (9,102) 532 (37,635) 393,120 137,169 (47.8491 (35,458) (2,249) (274.000) {936250) {198,450) (47,8491 2,209 (2.249) 24,787 1521,895) 532 {55.955) 101.912 Net ea5kn (used iny provid¢d by openting aetivities 266.(￿8 {312276) (253Jl9) 330,223 Jl. Prior petriod adjustmtut There are two prior period ￿J￿￿lents irnpacLin8 thcse financial sial•nents. Tht financial itnpaciof ihese adjustments is Sel out below= Year ended 31 Decernl￿r 2022 Previousty reportrd Adju5¢wtut As restated D)narions and legacies Charitable activxties Net movemenl in funds .157.436 2,64i.710 243.718 113.562 465.967 579.529 1,270,998 3.111.677 823,247 40 Warwickshire Wildlife Trns¢ Ltd Note5 to the FiDan¢ial Siatemehts- contiDued For the year ended 31 December 2023 Changes to the statemtht of fLll*trti*l pDsitio• As at 31 Decewber 2022 Previollsty reported Adjustment As Yestaled Dtbtors Other deEthrs 676243 13,562 789,805 Crcditors Deferred inwm¢ 658.680 (465967) 192,713 Fund5 Restricted funds Unrestricted fvnds 164.C87 468.(A)I 265,851 313,678 429,948 782,279 We hawe reported the effec( on the consolidated fi8ures here howcver all adju51rntnts have Fttn posted at the charity Icvtl and thcrefore the impact on the ¢harity figures is the same as 8b)ve. Ltgacy income Upon review of the legacy income recognised in 2023. itw&8 ￿SesSed that Th4Y) legacies amounting to £113,562 had met the criieria foT recognition in line with ihe Charities SORP as at 31 December 2022, and therefore thould have been accrued. Graty¢ Grant income ￿esSed on a pn)jeci basis during the ¢urrenL year audii and the review highlightrd a numberof balances whi¢h had bcen {kfCr￿d under rondi(ion5 nol allowable by the Charitie5 SORP. The adjustment resulied in a release £465,967 back to income, with the large majority being rcstricttd. Tht adju5tm¢nL at*)ve reflects a change w the trathsfer beiween unrestricted furtds and resthcted funds * the 2022 end as a rr5uIt of the increase in rc5tricted income. 41