Res4stered number: 00561833 Charlty numb•r: 210531 LEICESTERSHIRE AND RUTLAND WILDLIFE TRUST LIMrrED (A company Ilmlted by guarantse) Trustees. report and financial sLqtements For the year ended 31 March 2025 LEICESTERSHIREANDRufLANDMLDLFETRUST UMITED (A c(xry>*ry Ilmlt¢d by Page Rofer•nco and a¢knlnlstratlv• d¥taHs irfth•Trrf IsTrust••s and *fvlsers Tnmteos. roptyt Klep•ndw)t audllors. r•porton Ih¢fin¥Klal slal•m•rts C¢)nsolid*ed st*emert of finaniya acllvll•s 3-19 24-25 Consolld*od ba•K• $h••t 26-27 Tru¥t balance shert Consolid*gd statemert d cash11 N¢tos to th• financlal slatem•rts 31-65 LEICESTERSHIREAND RUTLAPa) WILDLFE TRUST LIMrrED (A ¢ompw Ilmlt•d by Refer￿ and a(knlnSstra¢lve dots11s of t￿ Tnot, 11sTn￿e•S and advlsers fortho year •rnled 31 M¥¢h 2025 Prèsldènt &r Da4IdAtt￿WJh OM, CH, CVO. CBE. FRS Vlce Presldent Pettr W¥d MA LLB Patron5 Laty Gretton ￿0. JP Dr KCVO. OBE CowKil of Mwg•m•nt Trynl1r￿C (olaeted by Meml>•rs of Bob Be¥ne the Charlty) Moffat Peler Williams Andrew T Anlhtmy Bithle Helen Nott Silviu Petro¥￿ {resigned 234J N￿Ornter 2024) At4gal Wilkin ANJY Abtott {•poinled 2Sd NovemF*r 2024) Jthn Athert￿ {4yiinled 23rd Novam￿r 2024) Taras Bains {•￿InIed NOVem￿r 2024) Gemma Harpgr {app(Inl￿1 2&d 2024) Ch*lie Hewlt lappc4nted 23d 2024, resigrnd 2P Jlly 20251 Ylly HLntsr 2>0 Novembw 2024) Compary r•gSstw•d (K)561833 numt Charlty r•gist* numb•r 210531 Regi$t¢r¢d offi The ijd klim 9 S¢)ar L Leicester LE3 5DE Chalr Ann Tcthin5 Co Vi¢e4halrs H¢Morwy Secre Peter Wiliam5 Honor￿ Trth8swer TtK*pe Chld Executfvè Olfic•r Matththv Cwt LEICESTERSHIRE ANoRLrrLAND￿LDL￿ETftvsT LMITED (A Ilmlt•d ty guvant••) Reference and admlnlslTatlv• d￿all¥ of t￿T￿￿t. its Trustws and advls•rs (￿rtIN￿dI for Ihe yew enctsd 31 Ir￿•Pendent audtors PKF Smith Ccxw statUt￿Y Ajjthtc 2 Lace Market Sqw ￿1￿h￿n NG11PB Bankers HSBC Barl( Kl¢ 31 Street Leicester LE16EP Solldtors l The princiFles arKI waclice of sustainable develwnent.. Illl The principles and practice of bicdversity ￿ natLwe C(￿￿er¥*i0n. c} To promote research in all lyanches ol st￿ty cl natwal *fjrldthhwil b8 for kxrtlic benefit, a￿1 to rec(Kd and publish useful results th8re(rf. Our Purpose Our purFM)se is to brirbJ wildlfe b￿. to emFVAW P8($19 lo l*e meaniryfvl *tion for natwe, to (xeale S(￿lety where n*ure malters. Our Vlslon Our vision is of 8 nalwal tKrfld, wilh (xrwk•te arKI ttyiryJ avalu&J rdein adthessltYJ the clmale d ecdtrfJi¢al emergencies. inskmred ew*v•vered to take xt1￿ nature. Tho Tru$l'$ S¢rat•gy to203tr. BrlNJng Nat￿ 8a( The Trust is three years into its Strat￿Y to 20￿. Narfwe 8ack. Thi8 SlratVJy is response to the nattwe It r&c*Jrises that the I￿n Iheals d clmale treakth)wn d ecological collapse are Ihe mosl irr¥￿t￿* Is$￿ of cwr tim. Our work cv6Y the past 69 years has W￿￿ted sryne of the rnsl inwt*l for nature, now our efforts nwst step w a gear. As well as wdecting the fragments rA wikllfewrich habiLit that we have left wthin LeiceslershireaTrJ Rulland, ne&J to start restoring ecosyslemsat scale- ￿ need to natLre Into recovery. Leicestersh￿ aThJ Rutland Wildfife T￿￿1 is positirrnj to iNswe lead the posttwe ecologtal ¢hange Ihal wll be n¢èJed a¢ross c￿r ¢￿*le$. LEICESTERSHIREAND RUTLAIXIWLDLFETRUST UMITED (A c4Jmpw Ilmlt•d by guwantee) For t￿y￿ end•d 31 PAar¢h 2025 Objectlvos and actlvitlM Icontinuad) AJlhwJh 8 knaly-ba5wJ wwj ¢￿ty. we are a national M￿eMert of 46 Wildlife Trusts, all wlth a shared pwe. As members rA inftuentiol we part of a collecaive covair¥J thé wholg of the UK wth over 944.OCL) manbers. 38.OCKJ voturrtgws, 3.61x1 staff aThJ 600 I￿￿tee8, all wowkiThJ together throuJh a central unlt. the Rtryal &xiety of Wildlrfe Trusts I'T￿ Trusts.). The Trust ¥wJks in close Cdlaboratl￿ QLr fekw Wilifjfe TrL6ts. as as clher partneryJ, ir¥Jivi¢knls c￿nMUnities, to achleve a wI￿r firtwe. dtws to be pwl of this wder le￿. The f￿l￿VIng par￿lar*S swnmarise t￿ Tnst's Stralegy 2022-2030: BrirVir￿ Natwe Back. Detaled work programmes for each year will thve its WKI otyeclives. Our Approach.. We are ambili(Nts in c￿r desire to reverse dec11r￿ in natLwe. We need to Ir￿rease a￿r￿JarKe and diversity by rest￿1￿ cr&*ing hth'tat$ al $cae. We SFeak authentic811y with a bdd confid8nt voic8. committo th8 Inrth atKrtrt the slate of nature and be clear al￿ what needs to thn8 to FKrt il in recovwy. Fimily rTh)t￿ in ow ILxalCcffnM￿ilIeS. ￿ lojk 4ierwild p*5. increasing peoFl&'s ￿￿j￿$ta￿lI￿j of. and ccwmeclion lo. the natLYal *t¥ld. We I(￿ loeslabllsh cLYnmon *KI th in pwtrwship wilh cthers lo develop n￿, irrnvative ways to pul nalure in recovery. We deM￿trate what is ￿$Sible. i￿8&¥re. anpvhpr. and en*e pecyle fr(Mn all backgrryJNIs. cultures, idenlilles. ￿da￿litieS tobriThJ knut cu visionwthus, emtKacing the diversity of society to chaNJe the natural ￿rfId for the tetter. If￿ getour approach right inLeiCesl￿1*e?￿j Rull**J. each WildlifeTrust does the v*wll have a cdleclive impxt that gels it rlgm n*icAwlly ar*J W atsgss global [*0￿eMS. Our Goals.. Nalure in Lgicgslershlre•MJ is Inr￿￿yv1jth thverse wikllife aThJ nat￿￿ proces8e8 reating wiklgr land ¥tse peo￿8 n*ure tlwTrve. Peopte in L￿CeS18r$IN.rear#fj RullaNI are tthir>J a¢tiffi fcf natLre the cl'mate, resuStirvJ In better decision-making f(w Ihe ￿VIronn￿￿ al tth the Ictal Iw81 and national level. Natur8 in LeIcestershirew￿ RutlwNJ Is F4ayir*J a y4￿j rde in help1￿j to athjress local and gk)bal wd)fems. Tl* Rg4Lir&J Tr￿￿1￿matic￿s. Developir#J rw rde as a tr￿ted SOLYce exwtise WoTkin9 effectivdy rwtionally Iccalty Inspiring. organising ￿ mot#lisirvJ comThxiti8s UndergcAr#J a'rcxA ￿ branch, digital transf(xm*ion Deliverir*J astepcwe ￿ the iliersityoffwxfiTrJ for natLYe's r￿ery Thè Enabling Pri(xilies: ResporKlirtsJ lo the climate and ecd(*Jical wnergerw- gettiry our (Ybvn h￿￿e in ordef Ensurir¥J our nalwe reser4es and la￿Sc￿-s¢ale iThliatives aw the fwrtrjation fLY nalure's recovery Develop clear and consistenl evidencth&l [￿1cleS Inve51 in a higNy-ski1gd ￿dd1VerSe slaff voluntsw nei*r*k. IxNkl a movwnent-*ide lewning ¢utture ￿th autlKyity and a c(rfit*nt v(•ce. irtslilliNJ 1n¢T￿lIVj our impaGI aThJ inf*JgnGe The d8livery cl ihis Strategy is trAsis f¢x the Trugt's dty40• wtyk. saf*3uarding vildife by: LEICESTERSTrIREAND RUTLANDWILDLFETRUST LIMrrED (A c(¥np*ry Ilmltod by gwant•g) Trustws. report (cortlrnwdl For the year ended 31 March 2025 ObJ•ctlv•s acllvltl•s {contlrn*d) Working to wd8cI and enhan￿ bio(*versity We care fcf 37 natLre resw¢s ¢overirbJ almc£l 1.31J) trrti¥es {aro￿l 3.210 acres}spre•J acros5 Leic￿terShff8 and Rutland. From wcojland lo meachyws. wetl*bJ lo heaths. these r￿￿￿eS contain a rich variely of and plant species, vr*ny r¥e. In th8 wder counlTrsid8 we work *ith I￿0￿MerS. Icul ￿￿k￿*1es. agerries. bLtsinesses. other partners and stakewders to amount cl l￿d that is b￿ng rnanag￿ fcy b￿rIt of nature. The Trust's LNIIYJ Landscape Areas provide the g￿￿ra￿¢01 tlws Roswch andsurvey We mnbtor. stuty and sweythewilolle rfrAKcwnlies toithntify $￿tal pl&es and imFwknl speu6S. to infcthi mwement and t￿￿te nature c(Thervalion. ￿ to tffotecl ktal biodiv8rsily. We offer wayone the char￿e lo exwierKe Ihe wilthfe ￿lId plxes with to our nature res￿eS across Ihetwo counties, a￿1 also trffowjh ow eryagew*nl activlies and events, volunteeriTrJ, o Visit￿ centres, aThJ wc¥kiThJ witrin (xff CLrnW¥t*s. Inspring ondethKaling We we passi￿* at*Xrt inswiThJ evtryN*. of dl •Jes aKI frcth al b￿0￿JS, to l(we care for wldlif arKI wild ￿aces. We have wth]r￿Me5 a wide vwiety of &tr¥fiias, groups ￿ events for families aTrJ children. we want to help all cunm￿ltieS ediwes eKKwietKe and have access to nature and its b8neficial impacts. Advcc8cy andspeakingup fornatwe We caryyagn fLT wilthfe. wotectirg tlyeaterttd lrtilats l*e wlbJl¢xer meathwts aThJ rare s￿16$ s￿h as ospreys, otters, bals, a￿1 waler voles. The knve kw 8￿nS ￿ ir￿cTFm￿*ed irrto ￿ Tn￿'S aryxjal Flan. vknth identifieg th8 prior*ies fc* e&h year. aThJ sets out thework that needs to be wi￿1 (*rt lo &hieve them. Pr<>3res$ 4ainsl this detailed work plan is subject to r￿Ular review ty management •¥J th8 C(AllKil of the Tr￿l The vuk c￿led out in the year ended 31 March 2025 is sel (MJI in ￿ Strategic Repxt secti￿. Publlc 8on•flt Statement The Courtil c¢Jffirm that Ilw have Cfjn￿ied with the thrty in seclKm 4 of the Charlies kt 2006 to have due regard lo the Charity Commlssion's general gU1￿Ce cn benefit.. Eh¥ities and Public Benefit.. The Trust¥ w￿lIC benefil is en5Fwined in its ch*itatrAe Ciyecls as thrtlned above. The Tntsi fuifis its 014ects aTrJ delivers its rAIbl￿ berEfil throLvJh rts c￿e &tNrties of proteclinj and enhancing the ￿lI￿rfe and wild plac85 of Lwceslershire and RUtI￿d WKI eryagiThJ V4?Ih natwe. Grant4naklng polldes The Trust yrates a smal gr•rts sctrvne its .(tsrTr￿ Fryest LTrvirwJ L*thcapes" w4ect, lo assist larmers arnl IaThJch￿8fS in Ihal area wxtical n*we CO￿er￿allr￿ sch8mes. LEICESTERSHIRE ANDRirrLAPK)WILDLFETRUST UMITED (A Ilnthd by gurnto•) Tntst•68' r•pwt (cont1n￿d) Forthe yew ended 31 2025 ObJ•ctlv•s actfvitles (cOntIn￿￿) G Charftable and PolItk￿ Oonatlons Trust maje no ch￿18￿￿e Lf pAtlical ¢*Jnatrcrts Ih8yW. strat•glc Rewt We we pleased lo rep)rt SIJr¥rK￿ [roJr￿S *I￿e+ed thwing the year erthd 31 2025 in the delivery cl (wr Straegy to 20JTr. Brin￿rtg NatW8 Back. ThL8 vLMI( i% txilt ￿ a great of fO￿￿latIOnal eff(xi in previ years. aml il has been very rthvardirKJ to see M￿y￿¥S c(￿￿10 ￿￿tion1hiS year. This aclivity is detailed below. The infoinatNM the R￿1*￿1 PwfOr￿￿nCe. FIn￿CIal Revivw, Risk Man￿eMent Statement and Sunmnwy of Fulwe Pl￿. f(rn Stratogic Rewt f(* th9 wrp)ses of the Companies ALt 2tw)6. Tli5 ReF*yI feviews Ihe PWKMJ 1 hwil 2024 lo 31 Mwch 2025 ouUin85 th8 wiyJress and achievements cvfjr the CQLYse of the yw. Natur• re¢ov• The Tnsts nature rwArves Fwlide fcrf ￿ anazirKJ dNwsity of wldlfe. Some iare arKI t￿gate￿￿, as well & gNirg pe(We the to expwiwKe leam thrt thè rth vwiety of halytats that were orKe despre•J. We care for 37 nature re40rv￿ wer almc611,31X) hecL¥es (￿er 3.210 ac*es). i￿l￿dIr￿j ovtr 19 Site5 of *¢¢ial Scientific Interest {SSSII. two NatKJnal Natwe Reserves a s￿la1 Protection Area. quisitions At the eTrJ of lasl year reF#xled t￿ty w￿$111l￿1S **wch *Yre in tran. These transfers rA I￿ were Com[￿ed in 2024125. Land at G￿t 8ovnlen. dc￿ated by th8 Adler faylly in n￿m(ty d their son. has Lwn nam8d the James Adler Nature Resefve. Th￿ i% a dgllghrf￿ sile d 21.37 ha (52.8 &res). very clcBe to the village and to the River Welland. which rur￿ through IhB WI￿. The resepie. vthich is C￿entty graaThJ larKI. ￿711 be maroged to increase aThY imwtrle hatltats avadat4e. wykiry valh the natwa tY(t&ses d the rivtr to e5tabli8h damp grag4and and wel wc(¥Jand habitat. We *il to the sitq WKI ojr i>gat B¢Jwthn L(Kal Group is very invdv&J in tlis txoC￿. A O)rwtion from Damd Homes ￿ 2.4 I￿ (5.9 &ras) at Won wa5 ffinals￿ thwing the year. This site. compri%iTrJ a lake wwllarnl. is aQ'xent to ￿ extstirKJ reseNe and In close wwmity to (￿r existirvJ Soar Valey natur8 r8S8rves. It will ￿1p exp&Trl the c4xtly f￿ nature reci)very Nlrythin that area. Th2 Trust hz an actNO F￿￿rne of assessiTrJ wiisitkn glt6s ex￿oriT￿j (￿ferent m&hods of fuTrdirwJ WKI financing lo acqimre ttr*m. A l¥ge pwi (rf tlis s ￿lId1￿j (xy nelwLwk d lctal partnèts aTh slaket#Ydets. ¢reatiTrJ a C(￿ml￿1ty d irterests for nature in ccAmties. We are currentty Investigating a Thjmber d options fcf exp￿￿ of (yjr nabxe re$￿e estste. LEICESTERSHIREAND RVTLANDMLDLFETRUST UMITED (A ¢(onpwry Ilnthd by gu¥*ee) Trusl•es' r•p(xl (cortlnu•d Forlhe yew endgd 31 Mwch 21nS Stratsgic Rowt (¢¢)ntlnu•d) In ordgr to or6ure ow rwlure reseNe tstate COntin￿S lo prowde surficant S￿9S where nalNe wldlrfe can Ilowish, al crtjr reseNes are su¥"ect to m￿agem￿tt tlans detailNJ type aNJ inlenstty CA wc*lK need￿ to be carried oul in ary one year. Fcff 2024125. imF4ementa1i￿1 d Ih*e m8tWg8m8nl FAans conlirwed ¢ffe¢tNely. and th Ihe i￿j1Spgn￿*10 assislarKe of our teams of h8bilat manageffMI volunteers. Thanks lo gener￿ dcThlir￿$. c4r NatLre Reserve5 in 2m124 SLPtKJrted a groal deal of Mfjrk a¢ross o natwe reswves durirKJ 2024125. ifK4u(Ir¥J patw al Ketton Q￿, a newlwn raft a C055irpton Me*Jcr•VS. J the purchase equipment. F￿l￿r ￿pea￿fUnthd w(¥k *ill follvw. ir￿1￿11¥j at Kelh*n 8ridge. Ajtsr Ston8s. ¥NJ Kellon OJarry resgryes. FL*Kts from Envyonmert Age￿Y LL5 to fxilitate a rerAxemenl tr&lLY a rthy mvwer fcf Soar Valley reseNes. a replacement k)￿¥￿ sc11￿ fry the eastern reserves. wetland irryrovement ￿rk a KBlham BriOJe Nature Res￿e. In a¢*Jition, Natur￿ ErylaTh*s ConseNation Enhancement SCh￿e furnled 1,641 m of ferLlrKJ at Lwhtrfw￿h Big Mekn* togetlw with c&Ue tr￿h5. a cattle ccAral, gates. We al80 ￿rIed out swJnific•* Iree ShrL￿ plan1K￿ at Cossingtm Meadtrlts. RLrtlaThY Water, Launde Big Wc arKI Pritt's Cowce reser¥es. Th• wldw Gountry51d• LaThJs¢ape-$¢ole ¢c*SeNatI￿ ts a mw tsus Trnst's 2030 straggy. In order to provide more fcf r￿t￿8 to thrive. we are thing with laThJrMrws •KI othgr part￿5 to bring nwye land into management in a way that is sympalhelr lo nature. Thi% Y￿ ￿ inuease the s¢* aKI rarye of diff&enl habllats acrc6s our orea. helping biodivetslty to spre*l. Tntsys LiiiTrJ L8Thtswe weas F￿Nde the gec*￿￿¥Cal franework f Ms work. SoLthwast Le1Cest￿sh￿e ￿ LEcomiry ￿ wea ol intew fo¢￿ the Tr￿1. On Ihe ba¢k of acquisition of the James Adler Re$￿Ve (see above) we ￿re able to exteThJ links wilh other major lanthMiers in the area. We are delighted lo b8 W￿knng with HaTbC￿￿h Dtstrbrt co￿￿11 follix¢ryJ their w4uisilion of ovw 53 hectares I1￿ acfesl (rf fomier I￿r￿￿￿j rv Great BTh¥dBn. w*ich was 8rminced in March ￿. This is a unique wojecl of nalional sIgnfra￿ to rest(*e natwe at a laThJsc4e sco18, trxiThJir¥J ￿n&fits lo wildlrfe. people and communities. proiecl wdl work to rth•Ad a natw&depFeted wea, re*slatlBling n&ural processeg and buldiry a nelwork of nature sites ￿TeW11¢￿Ie can thrive. We are lockirrJ fcTh¥d to ow V￿rk with the District Council, ar¥J *ith other key in that area. Gr8ener Golf OLr Greertr Gc4f irMtiatNe achi•￿j a n11￿1(Tr th8 y￿. *ilh 14 clth in Lethtershire aTrJ Rulland sigrhed up to help increase bicxjivetsly in wder￿￿e￿ areas of Ihwr courses. The great SUPPKJrt ￿(lA1ded by the ¢ILth meant that we were able lo f￿￿1 a Fr(4￿1 oifrw t*￿ wil be w(￿l￿￿j to est&)lish management plans with all the participarts. Losl Rwlways W8 svC£8ssf￿yy d81Nered the Lost Raways finled by Nalwal ErwJknl. Thts tystemal￿alty assessed the conswvaicm value of the ccrfritkn wovided ty di$￿ed Irth d former ra￿aY bnes a¢r￿S the counties, including OPFOrtwilies for peryle togetcloswto nature. TIMS re9￿ch Wil alcw us tO¢r￿19 largeled ¢or6erval'on measures. 8ThJ th& project has caujht the Imaginatic￿ of wr regic*)al partners. together wlh England and Natural ErolaThJ. LEICESTERSHIREAND RUTLAM)WILDLFETRUST UMITED (A cw)*ry lIn￿ed For the year ended 31 M•r¢h 2025 Strat•glc R•port {¢ontlrn*d) Lc¢al Nature Recovery Str*egy Tl* Twst was a key thiser to the Leicest¥. Le1¢ffit￿5￿1fj R￿l￿d L(tal Nature Recovery Slral83y. whiGh had it$ public c0r6dta1ic￿ thrirKJ the yew. Ckr experience Ircrfn t￿ Twsfs decades leading tl* nature CLTh8fvation ajonda across COLmties w&8 fulty i￿Orp￿*1 *ll￿n the Slralo3y. wth close al*Jnmenl with previous. existing aThJ futwe areas of n*ure rttovuy WOTk. Strategy will carry legal vwhl *KI will help enswe great￿ attenti(￿ is to tmodiverstty enhancement and nature r￿0Very in I￿al aut￿rity rdicies in the futwe. Tr Strategy was ath¥t￿y in July 2025. Ru¢laTrl Water successes Tlis year saw fvrtt*rStreThJI￿n4n9 of the local Ospyw ccrfnmwity in arouThJ Rutlarnl Water Nature Reser¥8. In t¢knl t￿e were 11 nests, arKI 25 ctmcks rased. raSi￿a (Ner￿1 tota ncw to 278. Staff and v0hJnteg￿ pry￿essed 3.178 i¥rds overlhe l*Y> ccrfKst￿I Eff(rl RrrfJir¥J Sle4 aKJ 520 Sand Martin Ch￿kS were rir#Jed ¥ross the fv40 artificial nesliNJ th9￿$. (her 85.(W wetland bir￿ thwe ￿(￿ded ￿rIr•j the ￿ Ilrsi sIgThf￿I gr(hvih has t*en seen on the Osprey Inslagram C￿nI vthwe cross.platf￿ffl conlerrt p￿151￿￿ has irtegrated. A fu￿ 8KamFle of for gr8atar eff￿r￿an8SS is kne YwTthe 'slMYts' have Introduced on th8 osprey YouTLth channel Inste￿ of the traditi(mal viden clips that have i*en previwsty uploaded. Th lop viewed video had 2,884 views la 10% decroase c(¥rpar￿ tts last year). whereas the lop viewed video'short had 8lmosl 1.6 ￿llion ViV•Y5 by crxnparIs￿. The slx¥ts are beiNJ as a way lo replKe exi4lrg oswej bltyJ$. have been re$￿Ice￿heavy, Ilme- consumirKJ 8ThJ very slow io prt>kno, t*irMJ wb115￿ website n*ang that they are effective only available to a closed aLKIler￿'. 'Shorts' we rrwch q￿er and &3si8r to prc*Juce and COnt￿n customized and far ￿her c(y)tenl, they have a m￿h h*J￿r enga3wiHrt rae th￿ trath'tional land$¢tye ¢liF6. and Can sh8red &ross variws platfm s￿h as Ins¢awi Th*ich remcwes the need lo re¢reat¢ Il* samè content in different formats. The Tru51's website attracted 624 users, otwl¥ch 05prey ￿bPageS SFrtifi¢ally. A lolal of £52.000 reveNe in the year was lo t4*bste ccrfrtent. ir¢lL*JiThJ memberships. thjwtions. and Gift Aid. and broadenl th• Trust's su In order lo carry 25, inclu¢*rg new pathways at Ketton Quarry, a tern raft al cossin0￿7 Mea(hM, and the pwchase tyiuwent. Further a&yeal.funded V+rJrk ￿11 folow, incl￿1￿ at Kelham Brithje. Altar Stc**s KettC￿ reserv8S. Our major appeal the yew "Restue. R￿lain w¥J Rry￿. TtkE ￿ laLmched in Oct(*er 2024, Is aimed at sutw(YtirKJ gewal natwe reLovw ellc*l righ xross ￿ ryganisalion's wJrk. The tota ra￿d In yew was £37.469 irthlro Gift Tms l*lrAI vrith tunilng sc¥n8d th8 restoration W￿kS required followiThJ uiminal damage at Rulland Water Cloud W(K)d nalure raseNes. It also paved the way In Har￿rc￿gh Distri¢X C￿J￿11 partnetshipknyjrk a￿1 fxillat•J the recruitm￿{ of a Nalure R￿0Very off￿tt, all hglF¥ThJ to demvw m￿ningfi￿ cha¥Je aKI a step closer tiwads vBicfft of a *ilder, rN)re connected landsc8P8. The impact of Ihis aF¢*al 9￿S btyc*KI ithi(knl prLiecls. k has Strwglhe￿ wr partnerslMF6, irrreased (K Cap￿ltY, arml dem￿strated just much can te &hieved wlw Fecpie come t(*jet￿r for nalwe. We t￿k part iDThe Give lo r&sefiJMts to deve1cyn￿￿ of a prryramn￿. This raise(I £4.165 incbthying a matclbfwKled ￿¥j Gift Our Oswey Fur¥J Appeal, vtt￿h has been rmnirs kn the past ttrree ye￿. rexh8d ts t¥gd of £25,INXI durirrj t￿ fi￿￿1￿ year. This has rKh¥ been clos8J. rat• Su We are vwy gralaful lo the t￿Sines￿S w#J tt*t u$ duriThJ 2024V25. We ¢urwlty Voryk with 75 I￿al WKI ￿ltieS. w(withThJ us vlith varfed typès dfinancial support * wel as pirrfJ ￿ c¥ry our ￿1$$1(￿ to a wder aut*ence. These include grant-m*iThJ l￿leS, large cor￿atiOns, Irxal rthrKits'es. academic insliluti(Th, smdl tAtsinesges. lo¢al ¢tsrrn¥ty groups. During Ihg year wfr wek(Mned E4thw*ts. CME Je•. abj WhtfrAvay FIr￿e es Corp￿al0 supporters. and mom¢xlal fun(1 Legacies n*mtyial fundir#J are of hLbJe Val￿ lo ￿ Trust in FYowdirwJ sthlartial irKoTh which allows investmert in the gr￿￿h and dev81￿￿￿1 ofts ch¥ity ils ￿. In thè year end￿ 31 March 2025. t￿ Tn￿1 receSved leg&y incc¥ne of £306.438. We ar¢ extremety grateftrf fcff the gerwosty irf5￿￿terS wtrK) rememb8r the Trust in tsir *i115. partrula in the last year the late Mr Harold Keith Braid, Mr Pwl BUxt￿, Ms Jemifer Ccd. Mrs M￿ene Crockw. Mr Jotrn Ajbert Leslie Hunt, Mr Mich* Geofftey Naisbitt. Mrs Doreen Jessle Machin. Mr Leslie Rc￿ad Merril¢ Rhona Millson. Mrs Patricia Jane m￿e. Mrs Smagh Muller. ￿ Mr J(*m Wlliam Small. We we also grateful lo ￿￿Ved a (rf {k)nal￿ frc•n friends famity in mem¢xy of hwed ¢)rw. In Ihe year 31 M¥ch 2tr25 we received £2.￿5 in swh Legacies a￿1 In Merni￿arn donatio￿ makea tren￿K￿m (liffere￿et0 anwnl of conservation woth lh8 Tn6t is able lo &hievè. 12 LEJCESTERSHIREAND RUTLANDWILDLFETRUST UMITED (A ¢omp•ry Ilmll•d ty F(*tho ￿ ondad 31 Mar¢h 2025 Stratsg1¢ Repwt Icontlrnwd) Su Lelc6stsrshlr• and Rutland WlldlfoTrust-the rol• of volw The Tntsl relies on the SLfV)rt loyalty of w ments$. cffl tkE dedtaled woth of Lccal Groups that [￿de g￿ded walks. 18CtLres L*s, furKkaistng events ltr￿ghlyjI the year. and on more than 730 volunteers wFb) we 1nvdV￿ in virtuaty wery asW of T￿1,$ The finaThJal $tstemgnls of Trust trwLs￿l1Or￿. in partrular dctslion$ arbj similar contribut￿r&. but the value of th8 time arrtl efforts of ￿ed$ of unpad volunleers SUPF*Yt the work of the Tr￿1 1$ not q￿ntffied. The Trusfs vclwrteers we actwe in rwrtrous areas of the Tr￿t'S work. TW provide major assistancq irtludir@ in aroas $u¢h a8 consep1all￿ *rKk, *ildI￿e mont1￿1r9 recordirg, retail activities, adminislraion. l￿d-raISir0, community awareness aTrJ eThJagement, yoAh imidvement, governance. aThJ financial and tecthical advice and help. ktNitie5 swh as Rutlaryl Osprey Project wwld not be possible wlh(xrt the krge of volurleer I¥￿￿$ In all, we estirrole almost 24,0(Kl vc4unteer hr￿S across the v*thdeof Ihe TrLsI's wc*k were given t*rirg the year. spread across various &*egLvles of vital *vk. details are giv8n in the seclions above. As SFecified ty the Ch*i(ies SORP {FRS 102). ￿ monetary value i5 Wt such conlritwtiorE, varigd as they are. rw ¢*)8s the Tntst feel it is ￿[1￿1 or FYokn*ve to do so. Hcwever, ts shw scale of voYunle8fs' input IS clew. It ks therefore approwiate thatlhis help1sfcffma1￿ ¥Mlgratituts exwessa. ftr what ourv(Aunlgers help the Trust lo achi8v& The part F4ayed by vcknteeJs rwns 8 ethanl of Tr￿t'S work, and wilhoL such grass-roots activity. the continuiThJ SLKcess ol ￿ Trust w0￿j be possible. Flnanclal revlew & Overall res￿¢5 for lh• y Thè C￿￿011d818d StateTh￿ cl Fin￿481 f(Y thè Trust arwj its Sthldi￿. Le￿ester$I￿re Vlildlife (Sa18sI Llmlted, I1￿Jether conslitLling GroLP"I sh(thE a not I￿e8$¢ inf￿h￿S fty Iheyear of £868.194 {2024: decrease in fuThJs £410.455) after revaluation of inveslmenls, ￿ tc&l reserves of £5.857.346 12024.. £4.989,152}. Included within the r￿t irtrease cl fuNJs fcf the yew is the amcL¥M of £534,1x￿(2o24. £0) beiro the valuatlon of l￿d gffl￿ (K left as a1o3W to Icrn) (Y ext￿ n*Lre reserves inVo￿ed m cashfi(h (s8e mte 15). The Trust's c(xe irtcme, otthr￿ ifja memtEtship sthcriFlicYts. (kmatKTh IwJ8ryes. alkvts the Trust lo continue its central wort of maintsiThr¥J eXFO￿ling ils natwe r&erves and carryiro ￿ its educational 8n¢J advocacy ¥wrk. Other sourca8 of fLWKliry ￿eP￿ed the year ￿ in the main 8pplied lo spe¢ific y4.￿ts, gewaliro nwtchiv¥J expetxlilure. The results for the year shrm ￿ wcess d in¢crfne tyer eX￿lture before tax. transfws behyeen fvrth, and variws gans aThJ Icsses on unrestricted fvrxys. irr1￿1rvj desKJnated ft*Kl5, of £297.245 (2024.. deficil £380,329}. Most areaE of unr851iicted income Sa+V sunifKant Inw￿ement in the year. Legxies inLYeased by £220.945 and membership ir¢om& including glt aid rose by 7%. I>￿tS more than ¢*JutAed ￿ in¥&1m￿l i￿ome ￿ aided by a £47.099 gain on di$pc6al of an investr￿1 WOFwty. In total ￿￿estr￿ted ir￿[￿ne was 3WA hKJher than the icff y￿. Unrestrided eXp￿¥Y11t￿e fell £219.￿8 in e(ryarIS￿ v4ilh 2023124 lar9ety because of thè pn"c* year exceplional pension Gosl £257,(W. P&ttry as a resdt ofthe rethKed c¢%1 iMA a&0 to lryNer costs of generatiry funds, ￿r prcwti(m of overal eXp￿￿￿tUre spent (m chwlaile imw(ved frlyn 72% in the ryior yew to 85% in 2024125. The consolidated bal¥￿e SW at the yewoTrJ continues lo shchv ￿ Gr¢YJP in a strorNJ asset position. Cash baances. which hwe irK¥eased, ¥bil allcrw the GrLXP lo con11rn￿ to invest in n8w wqects and t￿IneSS d8vdopm&rt. •KI will provide Ihe le*tirre ￿J¢d to lo genwate in¢reases in unrestricted income 13 LEICESTERSfrIREAND RUTLANDWILDLFETRUST LIMITED {A ¢(¥ry>￿ Ilmlt•d by Trustem. rep￿1 I￿￿1￿￿dI Forth? yew end•d 31 March 2025 stream5 ￿1r¥j from t￿5 e&ler irv￿tr￿n1. The fin￿la1 rewves of Gro￿ we discussed wirripal actNity thèV4thc4ty<•M￿1 sthithay. Lerestwshre Wldife ISal85) Lirrrited, is natwe ¢wtswvation contr&ts *ildlrfe consukncy. rdail watKrn. The subsidiary made ￿ ￿erall prLtht year b81c￿e lax. crf £31,851 {SY24: £24,878). Of th&se wofits £29,281 (2024.. £19,882) has been set aside lo be given as lo the Trust. b. Flnanclal r•serws The chariti￿ SORP IFRS102) raqures a ch•ity lo st*e lyp8 of fin￿lar re5eNes l TrK4ds. and to compare le4el of Itthe r￿￿￿eS malcha5 LP to Iwel of reserves the trustees feel is apEYcf)riale gwen their plans fcK future adNifjes of Chari￿. Vltwe it fa15 sMYt. the trustees need lo explain what steps they are taknThJ lo rectify the situation. In this c(rtext th8 T￿￿1 vieK financial r*ervgs &s those hBld in Is unrestr￿ted fuNts. In a(kJition lo the Ch¥itatAe kcwrwjated FLnJ. Il* bal￿￿e of which slood al £330.994 at the ye8r-efKI 12024.. £225,2￿1. fvrther ￿restr￿t￿ are W *ittr¥n the O&ignat•J Funds descrfbed in thg The Tr￿le8$ establish the apprL¥)riate I￿￿1 d westrided re6aves above those alre￿ drg4erKed for fulwe plans or krKywn lia￿lilieS within ts D￿ty3nated F￿d$> by lo ensLre that level of Ihe Trusfs 'free reseThes' maets a ¢M)s￿ bertth•k related lo the I￿8t•￿ expenditure for ￿estr￿ted aLaNities. The Tnslees define 'free res￿Ves. as the unrestrrled net assds d Group, plus cash L¥ nearday nmniry of the Tr￿t ts carrred rArt ty a team of 32 W￿0Yed staff. headed by the Chief ExecLrtNe off￿r {CEOI, rewrtiry lo th8 CoLwKI. Pty aThJ r￿[￿rat￿ cl the Trust's cyeratimal sl8ff, irrludirvJ key management personnel. is e&abli$lxd by refererte lo an (werall ￿allrO stDxtLre eSta￿l￿h8d by the CwnGil. The salary ts￿d$ wthin this structure are reviewed pwi(thally with reference lo market conditlons. T[L￿teeS formulate, in ¢(￿Ulta￿(M Vlith staff. the strategy for Ihe Tn6L its ils development. Th8 Comcil Ihw oversees Ihe delivery of the CNerall strategy, ￿ well as @r￿￿1r￿j al rncessary gr￿eManc& requiremwts are met. Progress ajainst thL8 Str8tgJy is nKYMt(fed regulwty ty C{x￿11 and staff. 1$ m8asur8d ￿jairst perfmnce targets. The Trust'5 wholly-owned subsidiary, Leres1Ws￿ Wbklrfe (Sales) Lin*ed, pr(Nid8s an int￿ra1 contrilxrtion lo the delivw of theTrusl's charitable djjecls, the SLthi¢thwls suWuses, arEirg frcln its crmsuftancy and retail OFerations. go to supwt the Trust's CVer*iry￿. As nolod above. Leicestershre avj Rul1￿ W1￿￿e Trust is 46 I￿lIvi(￿jaI Wldlife Trusts which are part the Wildlrfe Tntsts federation. Whi&1 the Tnst rwnwns an 1ThdeF￿ent charity. il w(¥ks vrith this national nelwc#l( in progressing it5 major conservation initiative5. ThroughcKrt our w(xk to delNer our SlrataJy. Ihe Trust keeps in clrse ci)nt￿l vrilh the kycgress wlhin Wildrfe Tr￿1 mcwemenl in ddiveriTrJ natiL￿￿ 2030 Slralegy. Ow aim thill be to erfjure thal Trust plays a f￿1 parl in deliverirnj ow local eI￿lert of that nati￿￿ effort. Tl4s will contirw ￿rir￿j thè ComW￿ year. 17 LEICESTERSH1REAI￿ RUTLANDMLOLFETRUST ￿M￿ED (A c(ry￿ Ilmbt•d by wrnte•) Tnmtees. rem (corrtlNed) Forth• ￿ ended 31 March 2025 d. Govwnance r•vle A comprehertsfve re￿eW of the Trusls g￿erna￿ commerKed in 202J24 aTrJ cortinved Ikjriryj the year. An extwnal a(fviscY was arbj a￿￿K￿￿￿$ ￿re designed. reoted in test wacb'ce in the charity sec1￿. t#)th wlhln WlthrfeTrusts rrb3V￿￿rrt arKI D￿t￿lly. AcomrKthensiveTrustee r￿ruitMent WO3ramme was sel in train, re$￿tIng in the appc1ntr￿rt of srK w Trustees * the N(Nemtor 2024 AGM. The prcKe&5 will be completed at Ihe 2025 AGM with thg a rw set (rf Pitides of Assttialion. updaled lo ensure the Tri￿1,$ g￿en￿n9 thcunerl clearty twt Fwlice. Plans for fuluro wlods F￿t￿r strer•Jlheni￿￿ of Infrastr￿a￿e. syslwis ar￿1 SUPPKYter rela1Fo￿hlpS gNes a stronger base vthKh lo undertake the many ayatirg I￿qt in hand. Thè next financial year (2025126) v4ill see a wmber d key devebjpmtnts. Our ¢ornwehenspie of g￿ernarte (sge **y49} VAI be ¢c•npleted ty the 202S AGM. when memt¢rs will vote on a Set of ArtKles d Asscciatim. After agreat deal ofw￿k cffj Improving Lxf IT systems ￿ Ffcc•JLres, we ￿e1Ved in Juty 2025 xcredlation for Jr ¢yber$ecurf(y wolcK(*. h a(klilicw). Y￿ have b8en i￿reas1￿j ￿ strer¥JtheniTrJ our staff team generally. and Wo CC￿11￿9 lo target w(#1￿lIve inccthe $tr&m. w11c￿arfY for unreslricled fuThJs. The f￿$1 Ftsse of ¢knm*e r&ntr(xJuclion in L￿ost￿s￿ t(K* [l￿e in JLTh 2025. ow work wlh th8 Leices18rshire Ruil¥¥J Dcm)m RttcNery Stwirg (kw). We fcTward to further re inlrojuclions. In our landscap8-scal8 natLKe recovrfy w￿. w i1w￿aY￿* in the HwtrA)rough rewldlng project wll be enlerir¥3 its r￿st development phase aThJ W￿ I￿esee a great deal of from knal armj national stakthjders 8nd age￿Ie$ in this key irltiative. Ar¥J we are alreaty prepwing f(*cefetrMaticms in 2026. vknen the Tnst be markirg 70 years sSnce Its ttealion, So years of RutlarKI Waler Natwe R&eNe. 30 years of RUlJ￿￿ Osweys. We we r4anring events and actrwities thT0￿hC￿rt thè year, Th)t jL(%t to toast ow wcfk in the pasi tKrt crlrialty *0 lo hkJhlkJhl how mLrh still ne￿ to b8 drme. details V*ill be cIrc￿￿j tow¥ds erKI d 2025. 18 LEICE8TER8FIREANDRUTLANDMLDLFE TRUST LIMITED (A Comp￿ Ilmlted Trustees. repwl [￿￿10￿ For the y•* endèd 31 M¥¢h 2025 Statement of Trusto0s' rosp￿IbIlIti0s The Tr￿lee$ are also t1￿ (treclcffs of Il* Tr￿*1 ftr the pur[￿￿ of compary Iw•V) are responsiblg foT preparing th8Trustees' reFth arnj lh&fi￿1n¢laI slateffwts in a¢cOrd￿¢e with applicable law aThY United Kingdom Accounting Sl￿Wds (LknIt￿ lfjrrfJ¢kJn Acc(xmtiNJ Practice). Company law reqL*es ts Truste85 to Fyepgre statmwts for &ich financial . Unthr c￿npanY law, the Trustees must nc4 apwove the fin￿cIal sl*eTr￿ Ilw are sattsf*ed that Ilw giv8 a true and fair view of the stale of affaws of the Gr(Kp the Tr￿1 arxl of their incunirg re50Lwces and a[￿l¢abon of resources, including their income exp&Mllture, thai VK#J. Irb wep¥iry Uwe financaal stalem8nls, th8 Tntstees are required lo.. seleet $￿table 8CCOLrting K*Jlicies *y C(￿sistent1Y'. observe the melh(xls aThJ principles d the (*wilies SORP IFRS 102).. makeju(h3ments and accou)tirKJ estimates thal are reasonabk and [￿dent. slate vth8th8r applicable UK*£c(¥mtiNJ StaThJards (FRS 102} have been fdl¢y•ttI. subjectto any material detortures disc105ed arbj explained in the financial slatemenls: prye the finan¢ial $tatemwrts on the grAry co￿eMbaS1S txl8ss il is inaFvopriate to presume that the GroL¥J 4MII continue in business. The Tr￿teeS are responsiblefu kwxng *Jequateacccwnling Ihal are 5uffrienl to $lTh¥ and explain the Group and the Trust's trar6actions disc105ewith reasonat48 accuracy at any timethe finartia position of the Group and Try￿t and 8nable ttrrfi to ensLwe that the financial Stalen￿rtS comply wth the com￿1•S Act 2006. They are abo rgsponsiblg lor sa￿Uar￿1¥￿ assets cl the Gr(w a¥J th8 Tr￿1 and fcf Likir rea$c￿eble steps the prevwrtion and detection of frwj and other Irreg￿arlIles. DIKlosw• of Inforniatlon to auditors Each of the perSfx￿ wtK* areT[￿￿tee5 at Ihe tr*$ TnL8iees' rwt is approved has crmfirm•J that.. sofar as that Trust8eis Jware. ttrve is ro￿1￿4)tajthI irfcrfm8tionof ￿thiCh1he ch￿t￿)le grou￿5 aU(litc￿S are unaware, and thal Trustee has taken all Ihe stythai cujht to have t￿ taken as a Tmsteein order to b8 aware of ￿Y relevant￿1 Inf￿natI(￿ arKI toesl&lish charilth grw)¥ a￿lIOrS are awwe of that informalicffl. Audit¢)rs In accOrdw￿e with tt* Companies Act 2(M)6, a resdutirm pYoFK)sing the reTrappointM￿l of PKF Smith Cooper Audit Limited as Audit￿ *tyll be kxII lo the ￿￿tsTs at I￿ knal General Meeting. Approved by Lyder of the tr￿)bers ofthe Trustees arnl s￿3￿￿ on their beh*f by: MrsE A Tomllnson {Chair of Trustees) Date.. 19 LEICEsTERSFIREANDRitrLAND￿LDLFETRUST LWAITED (A ¢tynpwy limit•d by wxanl•e) Independ•# a￿lIors. report 10t￿ L¢l¢•stwsNr8 Ruuand wlldllfeTn￿t Llmlted Oplnlon We have the fina￿la1 stalen*nts d Lereslwshre and Rlttla￿ Wikjlfe Tntsl Limited {the 'parent charilat4e ¢¢)mpaw? and its sthBidiari8s (t￿ .￿oup￿ lor ts year ended 31 March 2025 whi¢h cOMpr￿e the Ccfftsolidated statement of finwKial adNth'8s, the cc￿s011d8l8d baa￿ sheet, the Trust bala￿e sheet, the C¢xsolidated statement of cash fl(rws arKI the related TrXes. ir¢kJding a SUMM￿ of shjnlficanl ￿COuntir icies. financial rep(￿r￿j fram&YoTk that has teen applied in their pr8paration is aF￿￿able law 8nd United KiTrJdom Act¢yJnting Standards, incI￿1r￿j FinanGia ReF*Ytir¥J Standard 102 The Fina￿1￿ Rek￿lr9 Standard applicable in the UK and R￿￿1¢ of Ir*rf (Urllted Generaly *￿ePted kcwnling Practice). In ow oyThon It* financlal stalan&*s: g￿e a Inje a￿1 fair view of the state of the Grcw's and crf ihe pareni charlable crThpany's affairs as al 31 March 2￿25 and of the GroLPS ineorrMryJ iesowce5 •KI Wwlbcation of ros(Kvces, irKluding its irLome and eX[￿j11￿8 for the ye¥ then end￿. have been pr￿Y.S trustees, as a body, in ￿Vd￿¢9 with Ch¥Jter 3 of Part 16 of the Cijmpanies Act 2LY6, and lo the charl￿￿ Comp￿,9 trustees. a5 a bcmty, Part 4 of the Charities IAccounl$ and ReF*Xtsl Rojulations 2(K)8. OLf wjrt V•Drk has teen urmjertaken so that we mpyhl state to the charitable company¥ tr￿leeS th(6e matters we requir￿1 lo sL*e to th￿ in an A￿*tOrS, report and for other purpose. To the fullest extent Fe¥mitt•J ty Iw. v* <10 rnt &cept or assume r&￿SIbilty lo anyone other than the charitable ¢cthpany and its menknrs, as a LKty. IC￿ ow *Jdrt wth. thi& rep￿1, or for the opiniong we have formed. f(LS SrfL ILJit Sarah Flear ISenl¢r statuw audilor for on behalf of PKF Smith Coop•r Audlt Umlted Statutory Auditors 2 Lace Market Square Nottingham NG11P8 Dale.. 41io125 LEICESTERSHIREAND RUTLANDMLDLFETRUST UIATED (A￿￿P￿ lknlted by ￿l￿a￿ee> Conwlldated St*wnert of lIn￿ClaI actlvltlos qIKn Leiceslashre RutlaNI Wiklfe Trust Llryiled is •) Ir￿(￿WaIed clwity and a registered charity in England and Wales. Lknited Kirod(xn. The company ￿ charity registration numt¢rs and the a(Idress of th8 r83i5tered office can te f&nJ in the Refererce aThl AdmiThstralNe Delals page of these ffinancial staterW￿$. Th8 Trust is a comp8ny fimited bj glwartee a¥J &s s￿h has rn isswl share capi¢a. The Trust WC￿ for the proteL*(m ￿h￿Cern￿rt of W1￿fe a￿1 vAd plac& in Lel¢eslershlr8 and Rutland. The Tn￿1 is dedicated lo securiro a tKJsitvie ILrture for ¥Adife as wel a5 impr¢Nlng people's understaTrJir¥J. apweciation wlldlfe. Accounting polid Z1 Basls d prepwation of fin•nclal statwn•nts The finarKaal stateme￿5 have been Fryed in ￿¢￿d￿ V•ith Charilias SORP IFRS 1021- LcountirvJ and Repxtiry by Charities.. St*emenl d Recommended PraCt￿e ap￿ICable lo charitias preparirvJ their &C￿nts in acccthe *fjlh FlnarKial Rwting StaThJard ¥plicable in the UK and Republic c4 Ireland IFRS 1021 {effectNe 1 Jarw 2019}. Ihe FinarKial R8FQrting Standard applicable in the UK aTrJ RWic crf Ireknd IFRS 102) ￿ Ihe Compwwes Aet 20CI%. L*estershire and Rutlar¥J Wlthfe TrLL8t Linmted meets t1￿ definition cl a PLtsl¢ benefit entity undèr FRS 102. Assets and liabilli8s are iThlialty rwrNSed * hislorical cost or trans&lion value unless otherwise ststed in the relevant FK4icy. Grw fmancial slat8rnents Th8se fina￿la1 Statements ¢rMrW￿e re5￿ts of the LeKgstershYe and Rular¥J Wibjlife Trwql Limited and its subsidiary. C￿ts￿ldated on a h'rE-bykn basis. AJI the fin￿￿1￿ staements are made up to 31 March 2U2S. All intra4JfoLV trar6x1wy￿. balwKes aTrJ uyealised gains cffj tr￿sa¢bonS with th8 subsKliary we eliminatd cm conscAidation. unredI5￿ low are abo diminaled urless the transaction provid8s evidence of an imparmenl of assel tr￿ferred. Thg Trusl's Statem￿tt ofF1n8rti￿ Activities As permitted ty Sadi￿ 408 of the Crynparmes l*t 2(￿. the Tr￿1 has nc4 presented its CA*n Sto18nwnt ol Financial ActiMts"es & it prepxaj w) XCfAmts tt* Tntst's inthvidual balw)cesheet stsxvs the Trust's nei movement d furnts in the fi￿9nCl8l year. In aLxordanGe with FRS 101 ts Tntst has laen th*rtage of Ihe exemplms from the fdl(P*Yi thsclosure req￿rementS. secti1￿ 7 'Slal8ment c< Cash Flows.. ￿es￿tati￿ d a St*en￿>t ￿ Cash Row re18ted Th*es and disclaswes for the Tntst. Soction 33, Related Pwty Discthwes.. c(ryWsali￿ ltrkey monagemenlpersonnd. Tl* financial st*ments are tYepwgJ in sterlr¥J, 15 the fU￿t￿al ¢￿TencY d the charty, and are roLWKled to Ihe ￿rest £1. The follwryng wirtipal ￿XIn￿r￿j wAicies have teen awlieil". Ptye 31 LEICESTERSTrIREANORUTLANDWILDLFETRUST UMITED (Ac(4wry Ilnthed ty bmwantee) For Ihè year •nded 31 March 2025 A¢¢￿thIng pdld•s {contlrM 12 Golng ¢onc•rn The Gr(￿P ¢¢￿InUeS lo IMFIe￿ its Stratw lo 2030: 8rirging NatLre B￿k in a s￿l￿nable way. The inwementatton d the strategy wll fd(yw a limelaAe kee￿ the need for fin*Kial resilien¢e firmly in rnir*J. The Trust contlNes to hwrfe ¢*h aKI the Trustees have the Gr￿P.S luture plans for the next two fin￿cIal years. delaled in cw&ervalNe forecasts of actNity and welate(l eash-flow imFh8ets. Bas￿ ￿ this ￿ availat4e cash raserve5. Tntslees cortsider the TrLtsI has adequate funds and sU￿le￿ cash1￿4￿ to meet ils li*llltles arKI those of its subsldlary undertaking. as faN due for at ￿1 12 m¢rt￿% fr(xn the date of approval cl Ihe fin￿lat slatem8nts. The TrLolees &so considw that Tr￿t'S anlicipated futwe objectives can be met. The financia stalemwts theref(Me teen a goir¥J corwn basis. 13 Incu All inccrfne 1$ reco3nised (we Ihe Tntst has &rtIlle￿ lo the irrc￿. il 15 tsl the inc(xne will be re¢eiYgd &¥J the reC9vab￿ can be measwed reliaNy. Vc4untsry i￿lIne. IrrI￿rIr￿j nwnknrsLtscriFlicKts and log￿es. are rectsJrised wh8ro tlwe is entitlement. {*d￿l11ty of rwi. arml the arTh)unt can bemeaswed rdiably. Donatlcw of 18TrJ or other assets at fair value at dae of receipt. Any193acy enti(lemenl is tthen as the ￿ller th. the thle on Trust is aware that pr¢A)ale has been gr￿ted. the estsle has teen finaised and ncrtifK*iffi has be￿ m*Je by the oxecutorls) totr* Trusl ltst a will be rw*.' ￿ a th"strIbAl(￿ is receNBd from the eslale. R￿elpt of a legacy. in whde in parL 15 ￿ ¢<￿1dered wthable when amount can b8 measured reli*4y the Trust ￿ be￿ rKrtified rl exec￿￿.$ intenlh)n to make a dtstribulion. Where a has been notified tothe Trust<¥ aware oflhe granting tsjl the critwia for inccmne recc9nitty￿ hwe r￿t be￿ nEI. then that leg￿Y is treated as a contirygnt &5sei a)d cIos8d if m8terial. Grants ar8 included in ￿ Statement of finaKia &tNitigs on a receNable basls. b￿ance of ir￿c￿e receTried fc￿ SFrfifr wrpw Ixrt exp￿￿ during the pericrtJ is shown in thg relevant fur￿$ on Balance sheel. Where 6 T￿e1ved in tharre of ￿t￿lement cl receipt, its recogn[tic￿ is deferred arKI in Cre{*t￿ as deferr￿1 i￿orne. Where erbliljemenl 0￿Ul$ before incryne is r￿￿Ve￿I. income is ￿￿ed. Rental lrtome on assets leased o￿all￿) le￿ k% rwnlsthl rm a Stralgm4F￿ basis 04er lease term. Investmenl I￿(¥￿e is recryJr¥s&l on a weivat4e basis. Inccffle thr￿[ fr(*n charitatle ac*Nitits is r￿j￿ed lh8 Tntst i%1gg8ly entiw to income and the amwnl ￿ be measLKed reliatly. P￿e 32 LEICESTERSHIREAND RUTLANDWILDLFETRUST UMITED {A ¢OMp￿ Ilmited by gu•r*rto•1 Notes to the Ilnrtlal strtemenls F¢r the yw •nd•d 31 March 2025 Accounllng polld•s {contlrMw Z4 Exp•ndltur• ExFerKliture is reccgnBed orte there is a leJal cr Cix￿tr￿tive lo transfer eCon0￿C b￿rit to a third party, it B rrobable that atransfer of ecorrf)mic benefrts wll be required in setllement atKI the arnL￿nt of the ob1valK￿ can be measur&J reliably. EX￿r￿11ture 15 dassified under charitable &tNity rattr￿r th￿ th8 typ8 Lrf ex￿ In c*der to ￿eful I￿rMatiOn to ￿er$ of the financial statwnents. ExperKlilure ￿ ratsing ff￿ts i￿ludeS al eX￿d[tire incured by It￿ &oup to raise fiJr¥Js its charilable purposes aThl includ85 c￿1$ of all fundraising xtivities events and non&dwltable tradir*J. Exp8n(fture cn chwrtth C<￿V￿e trAh (Jrect exwThthture, 1rns￿lI￿￿ dired staff CL%ts tributable to the ￿t￿ty. ￿ supwl ¢c6ts. Where ccsts ￿Thnot be dlrectty attributed to particular h￿1￿J5 Ilw have been a￿ated to xtivities on a basis consistent with w of the re50ur¢es. 4PW)rt governance cosls wli¢h ¢am)t attribute(I to a spedfk actswty have b8en SF4ii r(&ss the cost categories C￿ the same FW¢a)twJe as staff costs inC￿red. l expenthtwe is irt1￿1Ve of Irrecover7th VAT. IS Gowrnm•nt want$ G￿err4￿nt grants rdatiryJ to assets are treated as defe￿ed income and releas￿ to the Consdidated stalement of fina￿131 thlies the completion of the rdevant wrformance related coThJItir￿. Other grants that *e sL*)jeL* to perf(ymanC￿e1ated conditions ae credited lo the cons￿￿*1￿ statement offinayial actwities as the granl wrxeeds are receNed. (>ants recewed ior lo Iho reVe￿e reCOg￿lOn criteria beiro satisfied are recognised as a Ilablllty. 16 Taxatlon Trust is cortsidered to pass the tests set tx# in Paragraph 1 Schedule 6 of the Finance Act 2010 therefLYe it meots the definiti¢￿ (rf a chwl&)le cCrfn￿ f(r UK corpyation lax wrtrf)ses. Accordirgfy. the Tn￿¢ is wAentl￿Y exempl frlyn tsxabw in respecl of irrtyne or caFMtal gains recewed thin categoies covwed by Chapter 3 P•t 11 of ts CorpLration Tax Act 2010 or Section 256 of the Taxation of Chargeable GaIr￿ Ad 1992, to the exlenl that $u¢h irLLTh or gain5 are appli&J excI￿Ne to charitatrfe wrwjses. non4haritable sth(thary V4ill be to Cwation Tal on any g¥t aided lo the CharIt￿le parent. Z7 Tanglblo f￿•d assets and d•w•w•t TarwJitle fr<8d assas cc6tirg £5.(W r/ nve are capitalised retogni8ed *then fthure ecorK)mic t*nefits are wobable and the cost0rv￿￿ of Il* assetca) be n￿aSured reliab￿. All Otherex￿nd11Ure is charg8d lo the SOFA in the year irwrred. Tawit4e fwed assets ￿e iThtialy at ¢(Bt. Aftw reco3Iwb￿ urKler the co* mo(kl. tsnglble fixed assets we measwed at cost less a¢xunulataJ deprecialion arKI any accumulated impairment k6ses. AJI costs irrwred to briryj a laryitje fcJethw ￿th net gains Ioss85 from ievalua11c￿ and disposas Ihrwhout th& year. The fair vakje d an investmeni q￿led on a recoJThsed sl¢x* exchaThJe is deemed to be the qLthlIC￿ from t￿1 stock eXCh￿e. Investmert properties wel￿114Y rws(v•J at CLXI measwe¢J at fair value at exh bal￿Ge sheel date. Chay in fair we recc¥Jrms￿ in the SOF Investm* in sthmtharies •eval￿1 at cost less rrnvision inwairmenl. PaJe 34 LEICESTERSHIRE ANDRUTLANDWILDLIFETRUST UMITED (A Ilmlted by gU￿￿e0) For tho yew wxtsd 31 lknch 2025 A￿)untIng pollclos (CO￿1n￿d) Z9 Slo¢ks st￿ks corsists of $￿p sl(K* purchas￿ fLY resalè. Stc•* s valued al the lower of cc6t and net reaisatrle vdue after tsJe alk7warte (*Jwlete SI￿￿.mOVIng stsxks. At each rel￿1r¥j date. the Tnslees asses$ St￿*$ are impair*J or if any iMpalm￿nt foss reCogn￿￿d in peric#ts has reversed. Anyexcess dthe C￿rylrg WllOLmt ofst(** cver its estimated sellir#J wi¢è Itss costs to c(MWe sell is reC￿rIsed as an imwm*nt Ioss in the SOFA 110 Debtors Trade and other (1rd￿j1￿ irKoffÈ) yth￿h we r&8vable valhin on8 year we reccMJnise(l at the settlerrtnt ￿nI after ffj trade ithscount offered. Shlvt-term debtors are Subsequ￿1￿ m*ured at anK¥tised ¢(Bt. bg•rvJ transaction wice kns any rnnts settled and ary im￿Mient losses. 111 Cash at bank arxl in hand Cash al bank arKI in inebj￿ cash arnl slwt4emi hgNy Iqimd investments wlh a SI￿ maiurdy of tlYe8 months (Y less frcffj date of acqusitirm or opening d the (*FK)5it or slmllar &counl. 112 Llabllltles Liabilities wovi5icffls are rwntsed when th8r8 is an ot4hJation al the Balance sheet date as a result of a past evenL it is wobable that a tra￿fer of eCcrn￿ benefit ￿111 be r4utred in settlement, •KI the settlwY*rt ￿ te e5￿Mated reli*ly. 113 financlal InstrUmw￿$ The GroL4) thy firwKial assets finarKial labilthes d a kiThl that qualify a5 bas￿ financial instruments. Bas￿ financial Instny￿ts are Ir￿131￿ reccyJni5ed at Irans￿tIOn Val￿ aThJ subsequently ured at ther setllement Wa￿ V•ith the exception of investmerts in share aTrJ property. The inveslments are Iritialy r￿(￿Tr5ed at trarwkn Val￿ ￿ subsequentP4 measured at fair v81ue Ilwough the SOF 114 (Ip•ratlng l•as•s Rentals paid under cperatirvj leases ¢h*yed to C(wlidated statem￿1 of fi￿ar￿181 aclivilies on a straghl-line basis over ￿ lease18rm. Page 35 LEICEsTERSHIREANDRUTLA14￿￿LDL￿E TRUST UMITED IA 11m1t￿ by Notes to the firAnclal sL*emenl$ Forlhe year end•d 31 March 2025 Acc￿1￿9 pol1cl￿ (contlrnmd) Z15 P•nslons Current Tr￿1 ￿￿S￿ne1 wti*e in a defined $l*el￿der schm. Some past Trust personnal partiapaled In a bernfil scheme that has been cksed to new memb8rs and further accrual of pensic¥). The FerL8ion Ch￿ repr&ents paythe ty the Grow to th8 in resp8cI of the year. The a&sets d tF* scheme are held syalety from ttr¥)se ofth8 Trustin an in￿pendentlY administered fLmd. Diffwences te1w￿ ety*ilxrtior6 pay&tyle In year CL￿tri1￿￿tIOnS paid ae shown either as a¢¢ruats of prepaymerts. n6db8nefitschem8 The Trust ￿￿1paleS in The WFlolle Trust Pwtslc￿ sche￿￿. vthh Is a muli-empkyer pension SCh￿e ￿1¢h woviths benefits to its meMt￿. TyF•caly defi￿ of benefit thal ￿ emplLyee wl rBcewe c retirement. ￿%￿lY ¢Je￿tht f￿1c*S s￿h8$ age. years (rfservicearKI crmpen5ation. TIE lia)ility recojntsed on the SI￿1 in resFrft d defined benefft wtslon pl￿$ 13 the ¥ab￿ of tho defir*d benefrt al the of the reFthirg pwiod I￿$ fair value of plan assets. defiwd ber￿11 ctly81￿ ￿ calc￿ated amually ty iThYependenl a¢1Vari￿ usiThJ the projected Lnil uedil meth(yJ. The ￿￿ent of the defiwy benefit obllgallon is delerrrined by discountirg the eslimaled fulure c&h ￿1￿j irteresl rates of li3Wuality Corpc￿ate t¥)nds that are de￿ffiInated in the currency in ffth Ihe benefits will te paid. that have lernis of malwlty approximatir¥J to the twms related thligati(xL R&measurwent gains t05ses wisiry trc#n experience adjuslmwls aThJ chaThJe$ in ￿tuaTIal assumrAicrs are to other gains aThJ Ic6ses in the in which tlw arlse. The amunl C￿e￿ ￿ c¥etht to inter￿1 ￿￿nSeS is a net int8r8St Calculat￿ ty apF4ying the 118LNlity discount rate to the r*t defiwj Fmefit Ilajility or asset. 116 Fund a¢￿untIng Accm1￿8t￿ Gharitst4e fuThJs fuThts are UnrestrKI￿ funds *thi¢h We available fly use al the dis(xetion of Tr￿tee$ in firther￿￿e of ts gen8rd 04ectives of the GrOl￿ wt4ch have not been designated for other wrF(6es. Oesignaled lurKts ¢tynF￿e w￿St￿led fixbjs thal h￿e tmn set agde by the Tr￿tee$ fc* part*ular poses. ThE aim •KI use(rfeach (ksignatvJfwKI Is set in tlp nL*es to the financial slalemenls. Restr￿ed fu￿18 ¥e fwKis we to te in ￿*danCe ￿th specfr rastrklions impos•J ty donors ￿ which have be8n r•sed by the GrrA¥) f¢¥ part*ul* purposeB. costs of raislrKJ aTrJ Iminislerirwj such fiThts ¥e Chary￿1 4ainst t1￿ strtific I￿s. The aim and use of each restricted fLmd is set In th8 mtes to the fin￿141 slalww4s. P4e LEICESTERSHIREAND RUTLANDWILDLFETRUST UMrrED {A ¢omp•ry Ilmll¢d by gwantse) Ilot•s to the fir￿￿la1 stat•m•nls For th• y•ar•ndgd 31 M¥¢h 2025 Crfllcal ac¢ountlry •sllmat•s and ar￿$ of Judyne Estimates a￿1 I￿rnents are eYau*aJ arwj we based cffi 11stor￿al experience and other f￿lOrs. incluthThJ expectat￿ dftlureeverts Ihat*e believed lo tAg reasonable under the ¢ircumstw￿e$. Crltl¢al accounting estimates assLW)TAicxts: The Tnst makes estimales ¥KJ assii7wiKTh the futwe. Ttrt resL*tirg ￿oUntIng estimate8 Kl as5umpti(*is wil. ty defi￿110n. sethm eq￿j there1a1￿ actua The eslimates and assumptions that have a sYrUf￿ant ri* of causiNJ a material al.￿lMa* to th8cwryiThJ amounts of assets and liabilities vthhin the next flnarKial ye¥ ¥¢ thscussed bel(w. Pension scheme The present vaue ofthe (lefin￿l benefil li&ilty on a Mnber of that are determined on acluarial basis usiro a vaTlety d aSS￿rA1¢￿￿. The aSsuMpti￿S US￿ In detemiining the net cost or Inc(xne for pertsicfks iThSude the th￿OUnt rae. Any char•Jes in these a5sumptior6, whKh are dis¢lc6ed In Note 29, wlll impacl the of liaExltty. Furthermre. a rc414c¥w8rd app[￿h whlch woiects results the latest Valuatic￿ F*rf￿m￿j cm 1 Ppril 2024 has been used by the actuary in valuirvJ the penSIc￿ li&)Ihly at 31 March 2025. Ary differwKes belween the figur￿ derNed from the roll forward approaGh and a full￿t￿lay Va￿all￿ w(xAd impxt wryirrd arKurt of the penslon Ilability. The Trustees ths rK*l c(mid¢r thatthere is area 7hYyJd have asvJnif¢ant effect on amounts recoJni$ed in fift￿81 stalen￿tS. PwJe 37 LEICESTERSHIREANDRWLANDWILDLFETRUST uMrrED IA c Nol•s to th• financ14 stalements Forlho yw 31 Al¥ch 2025 11 Trustees. r•mun•ratlon and D￿Ing the ye8r, no Trustees received ary r&))wwatM)n otsr Wits (2024- £NIL). DwirKJ the year ended 31 M￿h 2tr25. ￿Tru$teeexp￿s have trA8n ir￿urred {2024. £NIU. 1& T¥xatlan 2025 2024 Ctyporatlon tax Curronl lax on nèt incomd{expww*lwe) f(Ythe ye¥ (1.066) Taxallon on n¢t 1￿Me1{exp￿dI1￿e) (1,066) As Th)ted in the aCcC￿￿"[W3 pol￿1&. the Trust * FQtentralty exempl frcrfn taxation in resFeCt of ir￿orne LY Ca￿tal gair6 reGgved vAIIN"n Cataj￿1& c(vered b4 Chapter 3 Pat 11 of th8 CorFwation Ta< kl 2010 Section 256 of Ihe T*ation of Charge*)le Gans 1992. to the ext*rt thai swh I￿(￿r￿ or gains are 8ppl*d exCI￿1vety to charitable Fw¥xes. Thwe are r¥) fact(Ks likdy toaffttt ￿￿etaX charges. P￿e 43 LEICESTERSFIREAND RUTLANDWILDLFETRUST UMThED limlted by 9￿￿te0) Notes to Ilnandal statements For th• yw •nded 31 Marth 2025 Livesttxk is val￿1 ai iheir fatr at 31 M￿h 3Y25ty the Trustee5. I￿lL￿ded witlin l￿d and l￿1￿￿1r1jS at#)ve Is treemd Iw#J and ￿lIding$ wfjlh a nel to)k value at 31 March 2￿25 of £249,703 (2024.. £264,276) l(¥YJ leaselKld t￿lId1￿J$ with a ￿1 twk value 8131 Mwch 2025 of £717.231 {2024.. £767.99n. H8ritage assets reiwtsail Tr￿$ reswves, mainlained in acerAdance ￿1th the Trntsvs charit*Ae obl.￿ts and stat&J developm￿￿ Strategy, i￿lUde puL4i¢ ￿e$S aTrJ ￿cati(￿l purwses. The Tr￿1 continualty seek lo exp￿ its wtfc4ioof nature resttve5. in Ine wth the above and followr•3 its quisition p)licy. The rwlure reser¥8s are an essential part d th8 Tnsfs work a￿1 cons￿￿ttlY It i8 nol Trustl rdicy to of Group and Tntst Adilllons 3)2425 Z2>24 1.22 21 102,133 I￿ luded wthln Herila3e Asset yew 15 dcfftat•J la￿1 of £509,000. This land has i*èn vall￿1 by the Trust usiry Pl￿lidY av*l8t4e data M land Val￿ aThJ recent professi￿1 valuatiL￿5 of Ajso included within Herits3e Assgt ad￿tK￿5 thrirvJ the yew is l￿d gNen tlwh a leg&y of £25.000. T￿$ land has been profeSsi¢￿IlY valued by the exec￿ d the wll. P4e 46 LEICESTERSHIRE AND RUTLANDWILDLFETRUST UMITED (A comp￿ Ilmlt•d by &W￿￿t¢*) N￿¢9 to the fin*Klal statam•nts For yw ended 31 Ilar¢h 2025 1& InY•stm¢nt propwty Group and Trust The Group's ar*J Trust's investsnent prwiies ccwise trAMldings and ralaled larKI at ￿ near Charnw( L(￿e Nature Reserve. and part of Th& Old Nlll. 9 Soar L*)e, Leicesler which is leas￿ to a Ihird party. Investment proportles Valu8tlon At 1 April 2024 Disposals Deficit on reval￿1 740.000 1290.0001 130.0001 Al 31 March 2ff25 The part of the prok* a The Old Mi•. Soar L￿, Leicester s leased ojt and Irealed as an investmffit property wa8 revalu&J ai a far vth of £1(KI.¢M by MaI￿r JJnie. Charter￿1 Survey￿￿. as 31 March 2016. TheTnJslees are oflhe r¥*rwon that Ihè lairv8lue has maerialty 8t t1￿ bal￿8 sheet date. historical ¢ost of the inveslrrtht rKwties is £239.176 (2024.. £281.183). The revaluatic￿ reseThe of £180.824 {3Y24.. £498.0￿> irtluded in Designated F￿d$ wilhin Ihe Balance Shget ￿lSe$ frcrfn yew-eThl reVaI￿1(￿LS d invqstm&* tr(yrties ￿ Inv￿lMents, thebr histuical Costs. 17. Flxed ass•t Investm•nts U$t•d Invostment$ Group Cost Qr valuatbon At 1 A￿11 2024 AdditiL￿s Disp05als R8vauatiLx 213.239 32.774 1244199) 1298 At 31 March 2025 516 Page47 LEICESTERSHIREAND RufLAHD￿LDLFETRuST LIMITED (A ¢¢ryry Ilmlted by Noto$ 10 thg fin¥hclal stateme￿$ For th• year ended 31 March 2025 17. Fix•d assot Inwstm•nts IconllN* Investmert In trading subsidiary u￿•d inv•slmenls Total C05t or valuat1￿) Al l Awil 2024 Additi￿$ Dl$posals Revalualions 213,239 32,T14 (245,199) 1(Kl 213,339 31774 (245,199 12981 At 31 M￿1 dlJ2 516 11)0 616 Oth•r Inwstments TrLtst. aoro with siK dher Wldlfe Trusts. ha5 e51attshed Wildl￿e FurKITaisiro (￿traI) Lknlted (company rKJmtr*r (183T2218). a CoM￿Y ￿mIed ty guw*ilee. TNS eorrpany undert*es member5hlp recrLitment f(* the Se￿ Wildkfe Trusls inV￿ad. As a membw of the ¢tynpany. the Trust¥ li8biffitie5 are limit￿ to £1. b￿rrfj the amount that eaeh member u￿￿akeS lo contr1t￿te lo the assels of the company in evert ￿ il ￿lThJ Mffxnj LP. Invoslmont In tradlng $￿sId1¥Y The investment in Leiceslerstyre bmkthle (Sales) (company T￿rnber 02347573), a company incorpvaled in Il* UK. re￿￿ents a 1(MP/ty l¥Sdir#J trading subsidiary's share capital. The conyanys registered offKe is atThe Old ￿11. 9 ￿0. Leicesler, LE3 5DE. Le1￿t￿shirfj Wildlrfe (Sales) Limited undertakes nature COr￿erVal(￿ ccffitr&Ls ￿ *fjldrfe c(m$￿ta￿. tC4Jelher v￿th its rtslSrg operations. The traL*rg c(¥npary thnat8s its l&x&Ye wofitlo theTnEI. sul4eL*tO Suir￿lent distributatde reswves L￿n9 available. A sirnwy ol its trathry ￿Ults tth. 2024 Prollt and loss •cGow Turrther ExpeThlture Othw in¢off Interest r￿¢1¥￿ Fair value movements 469,045 (448,954 (450.1ni 46.307 4.975 3.842 (120) Profit bdore Luatlon 31.851 23.812 Taxation Profit for th•y•ar 31,851 24.878 Page 48 LEICESTERSMREAND RUTLANDWILDLIFETRUST UMITED (A ¢amp•w Ilmil￿ by Nrt¢s to Ihe financlal sI*•m￿ts For Ihe yw endBd 31 March 2025 Arnj the below strb)vrs a Sun￿ ￿ its sh￿1 px>siti(m as at 31 m*ch2￿25. 2024 Balanco sh•¢t Fixed aTrJ assets Current li*)ililies 233.308 1217.5941 208.663 {195.519) Total net as80ts 1&714 13. 144 Caled up share c8tMtal Profit aNI loss reserves 100 15,614 100 13,044 Totsl equlty 15,714 13, 144 Taxable profits of £29,281 {2024: £19.882) (knaled fr(wn sthithary to the Trusi are included in the Trusts inlerc(*npany receivat4e baknce at the yew eTrJ. 18. Slocks 2ff25 2024 Sly) siock 6,129 19. Debtors Group Trust 2025 Trusl 2024 2024 Due wlthln one year Trade del￿or$ Amourt$ trh*d ty group ￿l￿1￿j$ (Xher debtors Prepayments accrued irKome Tax recoverable on gift aid 51,080 50,330 59.743 33,534 64,256 8,195 124,867 67. 715 306.371 31K371 41.820 124, 867 67, 715 235. 172 458.264 290.372 P￿¢ 49 LEICESTERSHIREANDRLrrLAK)WlLDLFETRUST UPIITED (Ac¢xnpw Ilmlt•d by guwant••) Notes to the fina￿la1 slatements For the yw eThl•d 31 March 2025 Cr￿ltOrs." Affl￿ntS falllry wlthln on•y Group 2025 Trust 2025 Trust 2024 2024 Olher loals Trade creditors Other taxation s￿101 Other ¢￿￿torS knruals dderred irK a3 57.216 2Q687 11.205 16& 154 89.152 18.862 1.910 1n938 62,173 13.212 40.623 16.521 11.205 5&65Q 2￿162 263,562 140,311 132.299 Gr4)4) Trust 2025 Trust 2024 2024 Deferred Income at 1 fv4>ril 2024 Rgsources deferr•J thJirvJ the y Arnounls releas&J frcffl wevirm penLNk 47.497 $3.629 (47.497) 400 2.430 (4LXI) 74.352 153,629) 12,430) 74,352 53.629 400 2.430 Deferred inccme relates lo afv￿8s wilh res￿ io ¢￿￿{ancY fees arwj grarts P74d in adv￿Ce of entitlemgnL Page 50 LEICESTERSHIRE AND RUTLANDWILDLFETRUST UMITED Ilrrtt•d by Noles to the fIn￿￿oI stat•merrts For the yew ended 31 March 2025 Cr¢ditors: Amounts lalllng aft•r more than one Group 2025 Trust 2025 Tn￿1 2024 2024 Other loans 16.813 25,113 16.813 25,713 Other loans relate to a lo￿ fr(m Ihe ROY￿ ScKiety of Imldife Tnjsls. Th8 loan is interest free and is repayable in annual instalments. Wtth the final payThw* (k* in SeFrtember 2027. Flnanclal InslTum•nts Gro 2025 Trust 2025 Twst 2024 2024 Flnanclal assets Financial assets m&%wed at f￿r va thrcAJgh Ir￿M0 eXp￿lt￿ 1.801.038 1.336. 745 1.630.260 1. 192,832 Group 2025 Trust 2025 Trust 2024 2024 Flnandal Ilablliti•s Flnancial liabilities measLwed al ￿rtiSed (11Q175) (94,604J {87,8141 (78.012) Financial assets measured at far v4[* thr¢￿h irt(#ne aNI eX￿￿11t￿e c¢Jnprlse bart arnl cash in hand and listed investments. FinwKial liabilities at aTrKYtised cc6t ¢cthK*ise crwthtors. rknr credlllxs aThJ olher h)ans. Page 51 LEICESTERSHIREAND RLrrLANDWILDLFETRUST UMITED (A Ilmlied ty sMw•rte•} Not•s to the financlal statements For th•y•ar •nded 31 March 2025 21 Provlslons Group •KI Trust Rswr Ponslon fvnd Ilablllty At 1 Awil 2024 Chwged to WAas excepticwf itw 257,000 23.735 1280.735) A detall inVesthJatic￿ into past Ser￿￿ costs payaLrfe lo memlvs (rf the RS¥Yf pension scheme w corKluded duriThJ the year. res￿1￿ in a liknilty to th8 TrLSt of £280.735 this liability has been inCl￿ded In the thfingj t￿￿ri1 pensi￿ gLheme liabilty Shry￿n balance sheet as at 31 M*ch 2025. The wovision Incl￿ in firrar￿181 sL￿eme[rts in ts previcmjs year is thèrefrKe no lorKJer required. P4e 52 152 J o 22uuB2 a8=118 E% ¢>> r¥ * J WJ zuw z(r r£iOJii I i È I I LEICESTERSHIREAND RuTLAND￿LDLFETRuST uMrrED (A Ilmlt•d by gMM*rt¢¢) Notes to thè fln*Klal s¢•ltsn¢nts For th• year ended 31 March 2025 2& Analysi$ of rnt ass•l$ b•lwwn fwKts R•strlcted Unrestrictsd fund5 Tolal funds T￿Jible fixed assets Fixed asset inves1v￿¢S Investment WLVty Currenl assets c¥￿Ill0r$ th wthin one ye Creditors d￿ in more than year Provlsiorts fLY liat￿lItIeS aml charges 2.￿.077 1,214,630 3,714,707 516 516 420,Cth 420,000 1,8tKI,468 2.21&184 {298,1621 {298,162} 116,8131 (16.813) {178.0861 {17&086) 414.716 Total 2.914.793 2,942,553 S857,346 Analysls of n•t ass•ts batw••n fwKls. wlor Restricted Unr8Stricf8d Tot 2024 Tangible fixed assets Flxed asset investments Investment property Curr¢nt assets Creditor$ due wlhin ye¥ Creditors due in more than (Th year Provisio￿ for lia￿litIeS charges 1,955.285 1,264,563 3,219.848 211239 213,239 740.(XKI 740,1KKI 87&539 1.361, 740 (212.363) (263,562) (25, 173) (25, 113) (257,CW) (257,(k￿) 486,201 (51. 199) Total 2390,287 2.598.865 4,989, 152 P￿e 60 LEICESTERStrIREAND RUTLANDWILDLFETRUST UMITEO IA compwry Ilmll•d by gwants¢) Notss to Ihe finandal sL*emants For th•year Mded 31 Marth 2025 Rtton¢iliatlon of nèt m¢)vement In funds lo cashflow from oporating xtivitl•s Group 2025 Group 2024 Net inc0melext*￿ll1vT8 f(Y yw (as p8r sL2teMU￿ of FinwKial Activiliesl 825,128 (400, 720) AdJuslm•nts for: Depreciaion charyes ement in pr(Nisic Lossesl{gains) on investments Dividencts. Inte￿1$ and rerts fr(#n inveslmenls (Prrfrtl crf) the sale Lrf fixed assets (Prrfrtl M disr￿$¥1 cl investmthtt wq)ttty D￿reaS￿linCreaseI in stc¢ks D￿reaSe/[ln¢rease> in debltys IrKr8asel{decrease) in creditus Defined benefit pension sch8m8 Cost less C￿arIt￿On5 payaAe Pension fironce clkqrges ￿ th1Th$tratK￿ cosis Taxation charge Donalicffl in kind 109.075 {257.IXIOI 298 188,4461 (8.20n (47.099) (3.0671 (173.361) 300 222.978 28.474 108.055 257.L (2 741) (93.066) (4.941) 2, 702 82.620 (43, 182) (s6,￿) 25,373 (1,066) (534.OOD) N•t cash provlded by1{uS￿ In) opwatlng x¢ivltkns 101.073 (126,034) 27. Analws of ¢ash and rA$h equlv4•nls Group 2025 Gmup 2024 Cash in h*¥J 1,800.522 1. 121506 P¥Je61 LEICESTeRSHIREAND RirfLANDWILDLFETRU8T UMITED (A Ilmlted ty ww*rt•• Notes to the ftnanclal statements For the yew ended 31 M¥ch 2025 21 Anal￿0$ 01 ¢hrys In n•t debt Othgr non cash At 31 March ehang05 At 1 Awll 2024 Calh fl¢>ws Cash at WKI in hwxj Debt due ￿1th1n 1 ye¥ Dei* due after 1 y 1.123.506 1&300} 677,016 300 1,800,522 (8,31JO) 116,813) 18,300) &3 1.09D,093 681316 1,775,409 The Trust currertly operat¢s s¢1￿. a) a stake￿￿￿ thfined Contrib￿lC￿ sch8me cwale(l ty si￿dard Life ¥NJ avai1&4e 10 811 anthees. Pension ¢c￿triE￿I1¢y￿8 for £55,532 (2024: £76.271); ar¥J b) The Wildife Trusts Pensi￿ S￿￿. ¥hwch is described in detall belNI.' The Wlldllf• Trusts Penslon Sclw The Tmsl, togdher •Woyas, parbciW9s in lh8 defin&J benefft section of the Wildlrfe Tntsts Pe￿4(￿ &heme Ilhe Scheme). C¥a admirislws Scheme and Its assets. vthich are held sepwately from ttr¥Jse rl Tr￿sL The IlabllSlles set ¢JJt in thi8 rb)te have tw c*Ll*ed based on rasuNs of the Scheme FuThJiThJ Assessment as at 1 April 2022. Lwdated to 31 March 2025. The present value cl the defined benefll obligalh)n vrts meas￿￿ LtsirYJ wojKled Lfit iyethl met￿. The Employers have •Jreed a fuThJirvJ plan vith the Tr￿le8$. wlweby cL￿tri￿M￿L0nS mad& into ts Scheme in order to remove the funding deficit based on each Err￿￿￿er,$ sh*e ol Ihe tcU Scho￿* liabil*ies. calcthated by Ihe Scheme P£tuary as al Ihe most recent SCI￿rne FuTrth'rwJ AsseSsm￿t (¢w￿tty. 1 Wil 2022). The dlsclc6ures set out bd¢y are based on calculatic*)s as at 31 2025 indeFwdwM qUaIrfi￿ actuary. The c￿tr1￿￿10nS payaAe by Tfusl tot￿ Scheme for the year were £57.75712024: ￿,068). Principa xtuarial assumplicxL8 * the Bthe slwt d*e (gxwes58d as weighted aver￿eS).' At 31 March At 31 March 2024 Discount rate Futur8 salary Ir￿reaseS {RPI) Fulure pensi(￿ increases Posl-retlr￿￿nt m(Ktality 3.40 275 175 P¥Jeff2 LEICESTERSHIREAND RuTLAHD￿LDLFETRUST UMITED IA limiled by sw¥ant¢e) For •nd•d 31 M¥¢h 2025 Pwslon commllMw￿ {c4>nllrK Al 31 March Al 31 March 2025 2024 Years Ye8rs M(￿a￿Y rates (in y&¥s} - for a maleaged 65nthv - at 651ry a male aged 45 rkny - for a female aged 65 n( - 0165 f¢y 8 fem* aged 45 22.3 23.6 24.8 26.2 23.6 262 The Gr¢)￿'S shareclthe assets in Ihe $ch￿￿vaS. At 31 March At 31 March 2025 2024 Equilies 178.673 194.079 226, 11 489,263 794, 727 Cash & LDI'S Tot•1 fair of •¥s¢ts 910,090 Th8 actual relum cffj scheme assets vas a loss c1£31.474 (2024." gan of £18.194). TheanMJJnts recognis•J in the CLN)srAid8twJ stalanent d fin￿￿la1 xtivities are as fdlcws: 2025 2￿4 Past service costs Nel interest linccrfneyexpense AdnNThstrative expwtses Total *nount r•cognis•d in Con•4lidat•d $L*¢M￿ of flnxlal actlvltl•s 280,735 13,131) 31,605 (2,814) 2& 187 25,373 Movements in we5ent V¥1￿ of tl* defir*d ￿t ￿19atkIl as fcllows: 2025 2ff24 OpE￿I￿j defined tenefit obligati( Actuarial (gainsvlosses Benefits paid Past service cosls Interest cost 858,457 (96,985) 141,212) 280.n5 40.647 863.540 1.512 (45.894) 39,299 Closlng dolingd bwrfit obligatiryi 1.041.642 858,457 Page63 LEICESTERSFIREAND RUTLAND￿LDLFETRvST LIMITED IA 11m1t￿ by Notes to Iht finan¢ial statements For th• y•ar ended 31 March 2025 2& P•n￿0Th ¢ommltments (conllnu• M0ven￿nIS in the far vak* cl Ihe shweal St￿ assds we as follo•VS: 25 2024 CWiThJ fasr vaue d schem8 assets Interest income Aclwial losses trib￿lC￿S by enwloy Administrati￿ costs 8￿erits p&d Reversal ofdwwJnitiorv(dereCL*3Tht￿) Ikl s￿￿U5 851457 863,540 42.113 (23.919) SO,￿8 (2& 187) (45.894) (&264) 175252) 51,751 (31.605) (41,214 51.633 Closlng falr valu• of assets 858,457 T1￿ *Trxmts Ir￿1￿ in fv BawKe Sheel wisiry Irun the Trusvs oLligatic￿s in respect of defined benefit pl￿$ are as lo￿￿. 2025 2024 Presént vaue of defirwd benefit (*ligaticn Fair vab* cl ￿an assets 11,041,642) (858,457J 858,457 O•fln•d b•n•fil ￿n￿on sdwne I￿lIlty (171086) 3Q Op•ratlng l•as• commltrn•rts At 31 March 2025 the Gr(yJp and the Trust had ccrnilThths to m&%e minirnun lease payments under non•¢￿Ce1[abIe operatiTrJ 1&2ses as fcll(Avs: Gr¢Jup 2025 Trust 2025 Trust 2024 2024 Not later than 1 y 418 P4•64 LEICESTERSHIREAND RiITLANDMLDLFE TRUST LIMITED limll¢d by gu¥artee} Notes to the Ilnanclal statem￿S For the yw ended 31 Marth 2025 Cxoup and Trn￿t as L•ssor At the year eThY. the Gr￿ Tntsl t*d e¢Yrtr&la ￿ Iwwnts. urKler n￿￿￿cellable rwatirrfJ leases. the followng fUt￿e nMThmLWn lease payments". 2025 2024 Less than one year Later than 1 year and nrrt l*er than 5 y￿$ 10.020 10.020 15.865 15.865 25,885 31. CeAwKII of Trust••s Tntslees referred to inthe inf(rtion tothe ¢(xBtltute thwtors oflhe r￿P￿ly. 32 R•lat•d party transactlons During the year. the TrLBt recharged charges aThl certain exp&)ses lo its trading SLtsldi Leicestershre Wildlfe {Salesl ￿Mited amlu￿1￿ 10 £34.268 (2024: £110.6721 and were recharged expen$es of £52,928 {2024'. £79,823) At the y erMI, theTnsl was £59.743 {2024.. £64.2561 from Lei¢e$twshire Wikllrfe (Sales} ￿Mit￿l. DWINJ the year. IheTrusl VRS charged £135.42512024: £222,13241 by WFCL f¢y ils reuuilmenl $eNices. I￿luded witlMn creditors al 31 M¥ch 2)25 was ￿ arr¥)urt (rf £16,25812024". £28.0371 to WFCL. Dwlrvj the yew, the Trust received tknmlicm 1cl41iNJ £11XI.CKXI (2024: £1C(I,C(Q> frc4n trustees. Page SS