OpenCharities

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

2021-03-31-accounts

Registration number: 00724133 Charity number: 218711

CUMBRIA WILDLIFE TRUST LIMITED ANNUAL REPORT AND ACCOUNTS

31 MARCH 2021

CUMBRIA WILDLIFE TRUST LIMITED

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Legal and administrative information 1
Chair’s Report 2
Trustees’ Report:
Objectives and activities 4
Main achievements of the year 6
Financial review 13
Structure, governance and management 15
Statement of Trustees’ responsibilities 17
Independent Auditor’s Report to the Members 18
Consolidated Summary Statement of Financial Activities 21
Consolidated and Charity Balance Sheets 22
Consolidated Cash Flow Statement 23
Notes to the Accounts 24

CUMBRIA WILDLIFE TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2021

President Lord Inglewood

Vice Presidents

Mrs S P Bonner Sir Martin Holdgate Mrs S Garnett Mrs S Johnson Dr G Halliday Dr A Powell Mr S D Hill Mrs M Sutcliffe

Board of Trustees

Chair David Sharrod Treasurer Julie Barrett Company Secretary John Handley (until 2 July 2020) Jane Wilson (from 2 July 2020) Chair of Conservation Committee Dr Peter Woodhead Chair of Development Committee Prof Graham Hooley Individual members Dr Philip Byle Emily Coates Dr Volker Deecke Lady Cressida Inglewood Gemma Jones (from 21 January 2021) David Sharrod Fiona Southern (from 2 July 2020) Jane Wilson

Chief Executive Stephen Trotter

Senior Managers David Harpley, Helen Duxbury, Chris Haddock

Principal and Registered Office

Plumgarths, Crook Road, Kendal, Cumbria LA8 8LX

Auditor

Crowe U.K. LLP, Chartered Accountants & Statutory Auditor, 3[rd] Floor, The Lexicon, Mount Street, Manchester M2 5NT

Solicitors

Milne Moser, 100 Highgate, Kendal, Cumbria LA9 4HN

Investment Managers

Baring Asset Management Ltd., 155 Bishopsgate, London EC2M 3XY CCLA Investment Management Limited, Senator House, 85 Queen Victoria Street, London EC4V 4ET

Bankers

National Westminster Bank plc, 2 High Street, Windermere, Cumbria LA23 1WY CCLA Investment Management Limited, Senator House, 85 Queen Victoria Street, London EC4V 4ET Cumberland Building Society, Cumberland House, Cooper Way, Parkhouse, Carlisle, Cumbria CA3 0JF Furness Building Society, 51-55 Duke Street, Barrow-in-Furness, Cumbria LA14 1RT Shawbrook Bank Ltd, Lutea House, The Drive, Great Warley, Brentwood, CM13 3BE Virgin Money, Jubilee House, Gosforth, Newcastle-upon-Tyne NE3 4PL

Cumbria Wildlife Trust Ltd

Registered in England as company no. 00724133 - a private company limited by guarantee Registered as an Environmental Body with Entrust No. 093225 Registered Charity No. 218711

1

CUMBRIA WILDLIFE TRUST LIMITED

CHAIR’S REPORT

YEAR ENDED 31 MARCH 2021

This has been a tough year for all of the Trust’s members, supporters, volunteers and staff. Trustees and staff have been deeply concerned about the health and wellbeing of all our members, supporters and staff across Cumbria and beyond throughout the year.

The prolonged Covid-19 pandemic and the stop-start lockdowns throughout 2020-2021 have been a severe test of endurance for everyone who cares about Cumbria’s wildlife and natural environment. Many people have been personally affected by the disease and the Trust’s sympathy and best wishes go to all of those who have been impacted directly or indirectly. We’ve missed our supporters, visitors and friends on our nature reserves and at events. We can’t wait for a degree of normality to return at some point in 2021-2022 and to see people in three dimensions once again.

Despite the restrictions and constraints, our work and activity to protect wildlife on our nature reserves has largely been sustained throughout 2020-2021, even though many of our staff were ‘furloughed’ during the lockdowns when they were unable to work due to Government restrictions. As our offices have been closed for a prolonged period and the majority of staff have been working remotely, it has been difficult and sometimes impossible for us to maintain normal levels of service and response levels during the year. We apologise for this but hope that you understand and appreciate the reasons for this.

Our nature reserves are mostly in good heart; entirely thanks to the hard work of our teams of volunteers and staff. They remain some of the best places to see and enjoy special wildlife in Cumbria. We continue to work to make them even better for wildlife as the core of the future nature recovery network that we must build across Cumbria.

The initial fears of Trustees about the Trust’s finances in the pandemic were eased as we accessed new and unforeseen sources of income, particularly for projects beyond our nature reserves. During the year, we successfully applied for Emergency Covid funding from the National Lottery Heritage Fund and received grants from the Esmée Fairbairn Foundation and the Cumbria Community Foundation. Thanks to our supporters, levels of individual donations increased and the Trust received several legacies from longstanding supporters for which we are extremely grateful and humbled.

The good news is that along with a number of savings we’ve made, this has resulted in a surplus over the annual budget. Trustees immediately designated these funds for re-investment in delivery of the Trust’s charitable objectives.

The Trust continues to undertake a significant amount of project work to bring back wildlife and repair habitats beyond its reserves.

Prior to Covid, the Trust had been preparing a number of large projects for submission to several funders including the National Lottery Heritage Fund. These were put on hold during the pandemic as many funders temporarily closed their usual activities.

On the other hand, a number of short-term funding opportunities (typically for periods of 12 to 18 months rather than the previous norm of projects spanning 3 to 5 years) became available and the Trust’s staff have pulled out all of the stops to apply for many of these, often in partnership with other organisations. Several of these were successful during the year including bids to the Green Recovery Challenge Fund for our peatland work, marine work and funds to restore 50 ha of wild flower meadows in the South of Cumbria. The Trust is delivering the latter Meadow Makers project in partnership with Plantlife.

The Trust leads the Cumbria Peat Partnership and during the year we helped establish a new initiative called the Great North Bog which we hope will help to attract essential funding for peatland recovery across the North of England in the coming decades.

Excitingly, the Trust is also leading a programme to promote a coordinated approach to marine conservation in the Irish Sea, thanks to support from Esmée Fairbairn Foundation, John Ellerman Foundation and the National Lottery Heritage Fund over the next five years. This will follow up and deliver further action to protect the Marine Protected Area network that the Trust has successfully campaigned to designate with the support of members.

2

CUMBRIA WILDLIFE TRUST LIMITED

CHAIR’S REPORT

YEAR ENDED 31 MARCH 2021

This year we have also signed a memorandum of agreement with United Utilities and the John Muir Trust to work to deliver landscape-scale nature recovery and greater resilience in the Thirlmere catchment.

Thanks to the efforts of volunteers in Kendal and supported by staff, the Trust has continued to deliver natural flood management measures, for example, in Birds Park in Kendal – helping to slow the flow of water and increasing the level of resilience to flooding in parts of Kendal.

Importantly, the Trust contributed to the production of the pilot Cumbria Local Nature Recovery Strategy (led by Cumbria County Council and with other partners). This is a bold plan for bringing wildlife back to the county and it now awaits the enactment of the Environment Bill (for which we have long campaigned) before it can become a ‘live’ statutory document. The Trust continues to host the Cumbria Local Nature Partnership which has also been instrumental in this process.

The biggest impact of the Covid lockdowns was probably the reawakening of popular interest in the everyday wildlife on people’s doorsteps. As the roar of traffic gave way to peaceful silence, we all benefitted from the sounds and sights of nature near to where we live. The Trust invested a great deal of time and effort in promoting and supporting this refreshed engagement amongst people of all ages. We worked hard to provide additional newsletters, content for our social media channels and a wholesale switch to providing online rather than faceto-face events, including for the Annual General Meeting in December.

This switch was an extraordinarily successful if unexpected ‘benefit’ of the lockdowns and the Trust will be continuing to offer both online and physical events in future years. The ability to reach larger numbers of people reached its zenith for the online talk by Professor Dave Goulson. As part of the Get Cumbria Buzzing! Project, an amazing live audience of 1400+ people from Cumbria and further afield logged on for an inspiring talk on insects and what we can do about their declines.

The renewed appreciation of nature seems to have translated into a wave of goodwill towards Cumbrian wildlife amidst the uncertainty and stress of the crisis. The year has seen a significant increase in the number of new members joining the Trust. By the end of September 2021, membership numbers had risen to an amazing 15,000 members. We warmly welcome these new members alongside existing ones and thank all members for supporting Cumbrian wildlife.

We owe a huge debt of thanks to all of our Trustees, volunteers, supporters, funders and staff for their hard work and commitment to the cause of wildlife during this exceptionally difficult period. We are especially grateful to all of our members and supporters for your amazing support for wildlife in Cumbria in these difficult times. Without you, none of our achievements would have been possible. Thank you .

This has been a challenging but successful year for the Trust and we look forward to better times in 2021-2022.

David Sharrod Chair

3

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

The Trustees, acting as directors of the company, submit their Annual Report and Audited Accounts for the year ended 31 March 2021.

Objectives and activities

The Trust’s principal activity is the conservation of wildlife in Cumbria. Cumbria Wildlife Trust was established in 1962 to look after the wildlife and wild places of Cumbria and has the following Vision, Mission and Objects:

Vision

The Trust’s vision is a Cumbria which is rich in wildlife on land and in the sea, and where people are close to nature.

Mission

Our mission is to bring about a nature recovery network, living seas and a society where nature matters.

Objects

The Trust’s objects set out in the Memorandum of Association were modernised in 2002 and are:

These objectives are central to the top three priorities of our 2020-25 Five Year Strategy which are:

Nature recovery and delivering nature-based solutions playing a leading role in tackling the wildlife crisis and climate emergency on land and sea:

… directly through increasing the urgency, scale and scope of our work programmes and by becoming even more influential leaders of change by, for example, delivering peat, grassland and woodland restoration programmes and providing more ecological advice to farmers and landowners. We will speak up for Cumbrian wildlife and energise more people to take action to create a Wilder Cumbria and a Nature Recovery Network across the county. We will continue to increase the area of land in our care.

People and wildlife

making wildlife and local nature even more relevant and important in the lives of people and local communities:

… by expanding and improving our work to engage people with nature through events and learning-for-all programmes. We will improve both the physical and intellectual access to our nature reserves. We will also develop our base at Gosling Sike and its role in supporting health and wellbeing programmes in partnership with others in the City of Carlisle.

4

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Raising our game

to meet the scale of the challenges ahead:

… we will improve our governance arrangements to become even more transparent and accountable in meeting the needs and expectations of our beneficiaries. We will get better at what we do and how we deliver it so we can have an even greater impact for people and wildlife.

Generating new income and resources will be key so that we can increase the scale of our work to match the scale of the wildlife crisis. We will be forward looking and invest in new IT systems and processes to improve our efficiency and effectiveness and to drive reductions in the environmental footprint of our activities. We value our people and will seek to expand our capacity and capability by recruiting more staff and volunteers and by investing in their professional training and personal development.

Public Benefit Statement

The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

5

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Main achievements of the year

With well over 3,000 hectares of land under its management, species and habitat projects to run, and the population of Cumbria to inspire in the cause of protecting the county’s wildlife, Cumbria Wildlife Trust has plenty to do! We continue to be especially grateful to the many individuals and organisations who have supported our work during another successful year. Examples of the Trust’s achievements in the year are briefly summarised in the following pages which, though not exhaustive, will hopefully provide a flavour of our vital long-term work.

Creating Wildlife Havens through bigger, better nature reserves Creating Wildlife Havens through bigger, better nature reserves
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Habitat restoration and
enhancement works:
Deliver habitat works at
South Walney and
Eskmeals Dunesunder
the Dynamic Dunescapes
project.
Ensure theStaveley
Woodlandsproject is
successful by delivering the
tree growing/planting
scheme and continuing to
engage with the local
community.
Develop plans for
improving the hay
meadows atBowber Head
Farm.
Reserves management:
Ensure a smooth transition
to the new Countryside
Stewardship scheme for
our northern group of
reserves.
Deliver the requirements of
the Countryside
Stewardship Agreements,
including ambitious capital
works programmes for
eastern and southern
reserves.
Update Management Plans
for South Walney,
Whitbarrow, Drumburgh,
Park Wood, Lowick
Common and Meathop
Moss.		 TheDynamic Dunescapesproject carried
out works to restore important sand dune
habitats on the Cumbrian coast to conserve
specialised wildlife and help it to thrive. This
included the removal of invasive vegetation
at Eskmeals, 1.5ha of dune restoration at
South Walney and the creation of new ponds
aimed at encouraging re-population by the
rare natterjack toad.
Volunteers continued to tend theStaveley
Woodlandstree nursery, and there has
been an 85% success rate of trees grown
from seed. Our Staveley Woodlands Officer
attended the Parish Council to discuss
project progress and to outline future plans.
A blog was posted to the community mailing
list about larch disease found in Craggy
Wood and the options for managing it.
A detailed botanical survey atBowber Head
was completed. Several species of interest
have been rediscovered including two
species of fragrant orchid and melancholy
thistle which, although typical species of
Northern hay Meadows, are not as abundant
as expected. The team worked up a bid in
partnership with Plantlife to secure funding
for a year-long grassland restoration project
across the county, with a focus on the
Bowber Head meadows.
The revision of Nature Reserve Management
Plans and extensive capital improvement
works to our eastern and southern nature
reserves were delayed by the COVID-19
pandemic. Although some capital works,
such as fencing and scrub removal were
undertaken, most of the programme will now
be delivered in the 2021/22 financial year.		 Ensure the success of habitat
works delivered byDynamic
Dunescapesat South Walney
and Eskmeals Dunes.
Continue work atStaveley
Woodlandsincluding tree
growing, woodland planting,
removal of diseased larch and
engagement with the local
community.
Improve the meadows and
grassland atBowber Head
through our new_Meadow_
_Makers_project.
Carry out an extensive capital
works programme as part of
Countryside Stewardship
agreements for eastern and
southern nature reserves
(delayed by COVID-19).
Begin the process of bringing
Lowick Commoninto
favourable management:
investigate the introduction of
grazing, bracken control and
options for managing ponds.
Monitor and, where necessary,
remove potentially dangerous
ash trees.
Identify nature reserves
vulnerable to wild fire and
prepare fire plans.
Revise Management Plans for
South Walney, Whitbarrow,
Drumburgh Moss, Meathop
Moss and Lowick Common.

6

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Creating Wildlife Havens through bigger, better nature reserves(continued) Creating Wildlife Havens through bigger, better nature reserves(continued) Creating Wildlife Havens through bigger, better nature reserves(continued)
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Monitoring and
surveying, including:
Monitor important bird
breeding atSouth Walney,
FoulneyandRockcliffe.
Monitor the outcome of the
white-faced darter
reintroduction at
Drumburgh Moss.
Monitor reserves as defined
in their Management Plans.
Increase the area of land
under management as
Nature Reserves:
Take on management of
Holme Park Quarry LNR
andClawthorpe Fell NNR.
Formalise the lease on the
Staveley Woodlandslink.
Acquire additional land
close toGosling Sikeand
adjacent toBrown Robin.
Explore opportunities to
expand reserves at
Foulshaw,Meathopand
Nichols Moss.
Improve the visitor
experience on flagship
reserves:
Continue with access
improvements atSmardale
and Waitbyand explore
opportunities for an access-
for-all path from Kirkby
Stephen to Newbiggin-on-
Lune.
Develop the osprey
experience atDrumburgh
Moss.
Create a singleStaveley
Woodlands Nature
Reservethrough access
improvements and
interpretation.		 There was no seasonal warden atFoulneythis
year due to the lockdown. The tern colonies
were either predated or disturbed and failed to
fledge any chicks. However, it was a record-
breaking season for waders with a big increase
in numbers of lapwing, oystercatcher, redshank
and ringed plover all successfully rearing
chicks. A permanent fence was installed at
South Walneyin advance of next year’s
breeding season; it should completely exclude
terrestrial predators from the gull colony.
Plans to continue with the white-faced darter
reintroduction atDrumburgh Mossthis year
were disrupted by COVID-19; only limited
material was translocated. There may be
further opportunities in 2021.
There has been no further progress on taking
over the management ofHolme Park Quarry
LNRandClawthorpe Fell NNR.
Talks were held with the landowner about
planting trees next winter on theStaveley
Woodlandslink.
The purchase of additional land atDrumburgh
Moss,Nichols MossandBrown Robin
nature reserves was approved by the Board.
Acceptance of a gift of land nearGosling Sike
was halted, at least temporarily, due to
concerns over ownership and tenancy
arrangements which pose a significant risk to
our plans for the site.
Path improvement work on theSmardale
nature reservewas delayed by lockdown and
by access issues during viaduct repairs. Just as
these were resolved, a persistent spell of wet
weather caused further delays and the work
has been put on hold until later in 2021.
Visitors gave positive feedback on the new
bird hide installed atDrumburgh Moss.
Twelve tonnes of stone were used to improve
access from the car park. A sign had to be
erected asking visitors not to feed the ponies
which provide conservation grazing on the
reserve.
Work began on unifying the two parts of
Staveley Woodlandswith the renewal of
interpretation.


Employ seasonal wardens to
monitor the important bird
breeding sites atSouth
Walney,Foulney Islandand
Rockcliffe Marsh.
Acquire and integrate new
nature reserves in line with the
Cumbria Local Nature
Recovery Strategy.
Take over the management of
Holme Park Quarry LNRand
Clawthorpe Fell NNR.
Ensure a smooth transition to
new Countryside Stewardship
agreements forBowber Head
andStaveley Woodlands.
Develop plans for the
Foulshaw,Meathopand
Nichols mossesincluding an
enhanced visitor experience
and a potential paludiculture
project to grow sphagnum for
other peatland restoration
sites.
Continue to improve access
fromSmardaleto Waitby.
Continue to explore the
possibility of creating an
access-for-all path from Kirkby
Stephen to Newbiggin-on-Lune.
Develop a‘wild experiences’
offer at one or more reserves.
Develop access and provide
interpretation atBowber
Head.
Complete access and provide
interpretation to link the two
woodlands to create a single
Staveley Woodlands Nature
Reserve.

7

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Standing up for Wildlife through conserving habitats and species and securing living seas Standing up for Wildlife through conserving habitats and species and securing living seas Standing up for Wildlife through conserving habitats and species and securing living seas
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Peatland restoration:
Identify a pipeline of
potential peatland
restoration sites.
Secure additional funding
for peatland and Natural
Flood Management (NFM)
work.
Meadow restoration:
Continue to deliver hay
meadow restoration
through theMeadow Life
project.
Continue to deliver the
grassland restoration
elements of the
Westmorland Dales
Landscape Partnership
project.
Seek further grassland
restoration opportunities.
Pollinator project:
Continue to deliver theGet
Cumbria Buzzing
pollinator project, focusing
on the restoration of
community sites and
community engagement.		 Extensivepeatland restorationwas
completed this year in the Shap Fells,
Armboth Fells and Tebay areas. A grant from
the Environment Agency allowed us to survey
3,000ha of peatland to identify new
restoration projects, and Management plans
have been written for 440ha of new sites.
Meetings were held to discuss the next round
of government grants and how this fits with
our future ambitions for peatland restoration,
much of which will be delivered through the
emergingGreat North Bogpartnership.
Landowners were consulted as part of the
Kent Catchment Peatland Project. NFM
advice was provided to United Utilities as part
of the Thirlmere Resilience partnership.
Meadow restorationon sites owned by the
John Strutt Conservation Foundation and the
National Trust was postponed due to budget
freezes within these organisations. Three sites
were restored as part ofWestmorland Dales
Haytime.
We partnered with Plantlife in a successful bid
to the Green Recovery Challenge Fund for a
project to create and restore wildflower
meadows across England.
Get Cumbria Buzzingwon a national
Highways England award for excellence for
improving habitats for pollinating insects on
Cumbria's A-roads. Judges noted this is a
very impressive collaborative project which is
delivering huge benefits to the community and
environment through partnership working.
Habitat enhancement works were carried out
at 19 out of 29 identified community sites in
the Solway Coast Area of Outstanding Natural
Beauty and sites owned by Allerdale Borough
Council.		 Lead theCumbria Peat
Partnershipand produce a
new strategy as part of the
Great North Boginitiative.
Carry out extensivePeatland
Restorationand secure
further funding for this.
Continue to deliver Natural
Flood Management.
Contribute to delivery of the
Thirlmere Resilience project.
Restore 50ha of grassland for
theMeadow Makersproject,
including 12ha at Bowber Head
Farm, along with some public
engagement events.
Support Cumbria County
Council (CCC) and Cumbria
Local Nature Partnership
(CLNP) to complete the ‘live’
Local Nature Recovery
Strategy and to create the
Nature Recovery Network
identified by the Strategy.
Complete theGet Cumbria
Buzzingpollinator project and
seek opportunities to continue
this work.

8

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Standing up for Wildlife through conserving habitats and species and securing living seas(continued) Standing up for Wildlife through conserving habitats and species and securing living seas(continued) Standing up for Wildlife through conserving habitats and species and securing living seas(continued)
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Other activities:
Support theBack On Our
Map(BOOM) species
reintroduction project on
identified reserves.
Ensure the continued
success of thewhite-faced
darterreintroduction at
Drumburgh Moss.
Lead theCumbria Beaver
Group. Provide public
relations and
communications support to
partners running
reintroduction trials.		 BOOM:Most of the work to reintroduce
species to several of our nature reserves was
delayed by the COVID-19 pandemic but over
1,000 cowslips were planted at Whitbarrow
reserve to provide habitat for the Duke of
Burgundy butterfly.
TheCumbria Beaver Groupcontinued to
meet online throughout the pandemic and will
be expanding to include stakeholders from
the local fishing and farming communities.
The enclosed release trial progressed well
and was promoted with video clips of the
beavers at work via social media and an in-
depth interview with local press.
A record number ofGrey seals(over 500)
was recorded at the colony on South Walney.
The breeding pair ofOspreyreturned to
Foulshaw Moss, raising hopes of chicks for
the eighth consecutive year. The pair has
produced a total of 18 chicks since 2014.
Assist theBOOMproject.
Support theCumbria Beaver
Groupby managing PR and
communications, and providing
a secretariat.
Contribute to delivering the
Red Alert red squirrels
conservation project.
Develop and secure funding
for work with local
communities to deliver
activities in key nature
recovery zones.
Set up and deliverFarm
Advice/Land Management
services to support landowners
in managing land for nature.
Marine conservation:
Continue to influence the
designation and
appropriate management of
Marine Protected Areas
including Highly Protected
Marine Areas.
Influence the improved
sustainability offisheries
managementand new
developments at sea.
Develop and co-ordinate a
newIrish Sea marine
policy network.
Host a six month, full-time
Marine Internship.
Undertake research in
partnership with small-scale
fishermen as part of the
Cumbrian Creel Project
and deliver theMy Local
Catchsustainable seafood
and engagement project to
local communities on the
west coast of Cumbria.		 Advocacy workcontinued, particularly
around the Mersey Tidal proposal and next
round of Offshore Wind Leasing. Our Marine
Team is working closely with The Wildlife
Trusts to provide regional information to
inform consultation responses.
Funding was secured from the Esmée
Fairbairn Foundation for a five-yearIrish Sea
Partnership project. The network will
strengthen links across the North West
Wildlife Trusts and the Sustainable Water
Action Network (Republic of Ireland) to
ensure ecological coverage of the Irish Sea.
TheMarine Internshiphosted another two
interns funded by The Crown Estate.
TheCumbrian Creelproject was delayed by
COVID restrictions and also by Brexit which
indirectly delayed delivery of the creels.
Agreements with the participating fishermen
are being drawn up for work in 2021.
My Local Catchwas also delayed by the
pandemic but a Project Officer was recruited
soon after the year-end.		 Continue to influence the
designation and appropriate
management ofMarine
Protected Areas.
Continue to influence improved
sustainability of fisheries and
new developments at sea,
including delivering theMy
Local Catchproject on
Cumbria’s west coast and the
Cumbrian Creel project.
Lead a collective impact work
programme through theIrish
Sea Networkand deliver a
diverse marine programme
across the northwest.
Support twoMarine Interns.
Continue long-term monitoring
programmes (e.g. grey seals).
Identify aseagrass
restorationproject (linked to
blue carbon sequestration)

9

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Inspiring People to value nature and leading the way on local wildlife conservation Inspiring People to value nature and leading the way on local wildlife conservation Inspiring People to value nature and leading the way on local wildlife conservation
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Public engagement:
Support and deliver a
programme of inspiring
events including guided
walks, wildlife talks and
conservation work days.
Link with national Wildlife
Trust campaigns such as
30 Days Wild_and_Our
Wilder Future.
Deliver the people
engagement element of the
Dynamic Dunescapes
project.
Create engaging
publications and produce
informative, accessible
interpretation and signage.
Use email and social media
to increase our
engagement.
Review the role and
activities of Local Support
Groups.
Develop a_People and_
Wildlife Strategy.
Volunteering:
Work with Lancashire
Wildlife Trust to explore
potential for the_MyPlace_
ecotherapy project.
Grow our corporate
volunteering.
Explore volunteering
opportunities for local
young climate activists.
Organise a new annual
event for our volunteers.
Review and update the
Trust’s Volunteering Policy
plus supporting documents
and codes of practice.		 As a result of restrictions resulting from the
pandemic,public engagementactivity
majored on the digital offering through which
engagement increased significantly. Many
online events were provided through which a
much-increased audience was reached.
It was an exceptional year for membership
recruitment and retention, with a net gain of
over 1,000 members.
The_Dynamic Dunescapes_project delivered
a wide programme of activities: including
online talks; training volunteer surveyors as
part of a national ten-year pioneering Citizen
Science project; a_Dune Detectives_family
event which recorded over 70 different
species including the first Small Blue butterfly
at South Walney for 40 years; and the family-
friendly John Muir Discovery Award helping
people connect with nature and care for wild
places.

A group of staff and Trustees worked on our
People and Wildlife Strategy.
Most volunteering activities, including Local
Support Groups, were halted by the
pandemic but when acceptable within safety
guidelines some small groups of our regular
volunteers were active outdoors.
With staff on furlough both within the Trust
and partner organisations, exploring new
schemes for corporate and community
volunteering and implementing
recommendations from our Volunteering
Review were put on hold until the next
financial year.		 Deliver our events programme
with a blend of online and face
to face events.
Continue to grow our
membership and supporters.
Continue to promote national
Wildlife Trust campaigns.
Complete the_Dynamic_
Dunescapes_project.
Develop our role in delivering
nature-based health &
wellbeing outcomes. Deliver
_The Bay_project (tackling
social isolation alongside
nature’s recovery), further
develop Gosling Sike as a hub
for education, public
engagement and health &
wellbeing and identify other
potential projects.
Complete our_People and
Wildlife Strategy, linked to The
Wildlife Trusts’ outcome of one
in four people acting for nature
by 2030.
Develop Local Support Groups
and their role.
Develop a post-COVID action
plan for bringing back
volunteers, to include a
position on vaccination
requirements for volunteering
and events.
Run a new annual event for
volunteers.
Carry out a minimum of 1,000
volunteer conservation work
days on nature reserves.
Review & update the Trust
volunteering policy and
supporting guidance.

10

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Inspiring People to value nature and leading the way on local wildlife conservation(continued) Inspiring People to value nature and leading the way on local wildlife conservation(continued) Inspiring People to value nature and leading the way on local wildlife conservation(continued)
What we planned to do in the
year		 Some of the things we did in the year What we plan to do in the
next year
Education and training:
Undertake a review of the
Trust’s people engagement
and educational activities.
Co-ordinate the delivery and
evaluation of at least 20
education and eight training
workshops/courses for schools,
staff, members and volunteers.
Co-ordinate and manage the
Trust’s annual Members’ and
Volunteers’ Conference.
Liaise with relevant Further and
Higher Education courses in
Cumbria; assist with three
annual University
undergraduate placements.
Increase learning opportunities
and health & wellbeing
activities at Gosling Sike.		 Developing the_People and Wildlife_
Strategy_involved a comprehensive
review of all the educational and public
engagement activities undertaken by the
Trust.
School sessions and outreach work were
halted due to restrictions imposed by the
pandemic.
All our workshops and training sessions
moved to digital platforms but this
facilitated a larger audience. The_Birds
for Beginners_series attracted well over
400 attendees and received excellent
feedback. A regular_Nature Detectives
slot, looking at Nature’s calendar and
seasonal changes, was delivered via
BBC Radio Cumbria.
Due to the pandemic, the annual
Members’ Conference was cancelled.
The AGM was held digitally following
Charity Commission recommendations.
The event, which included presentations
and a short film, attracted members who
don’t normally attend the AGM and some
excellent feedback was received.
We hosted two undergraduate student
placements this year. One was a
residential placement at South Walney
Nature Reserve assisting the Warden
and helping deliver_Dynamic_
_Dunescapes._The other was a new
placement opportunity, assisting the
Cumbria Local Nature Partnership
Manager, primarily with GIS mapping for
the pilot Local Nature Recovery Strategy.
We joined a North Cumbria Arts, Health
and Wellbeing Partnership to prepare for
a project designed to help people in
Carlisle to recover from COVID-19
through the power of social prescribing.
This is part of the ‘Thriving Communities’
programme and will be delivered from
Gosling Sike.		 Complete the_People and_
Wildlife Strategy.
Oversee the delivery of a
minimum of 20 wildlife
workshops through the Trust’s
education service.
Co-ordinate and manage the
Trust’s annual Members’ and
Volunteers’ Conference.
Provide three undergraduate
student placements and at
least two secondary school
work experience placements.
Manage the Trust’s
conservation apprentice
scheme in partnership with the
Yorkshire Dales Millennium
Trust.
Develop and implement an
agreed action plan for diversity
and inclusion across the
organisation.
Investigate developing more
training and development for
naturalists.
Develop more_Wildlife Watch_
groups.
Look into how we could
support local communities to
act for nature.
Deliver citizen science
opportunities of the_Dynamic_
_Dunescapes_project including
surveying, species recording
and ID skills training.
Develop education and training
through new projects.
Develop outreach and learning
through a Foulshaw Moss /
Osprey education programme.

11

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Raising Funds and efficiently managing our resources to enable our vision and mission Raising Funds and efficiently managing our resources to enable our vision and mission Raising Funds and efficiently managing our resources to enable our vision and mission
What we planned to do in
the year		 Some of the things we did in the year What we plan to do in the
next year
Secure the funds required
to realise the Trust’s
ambitions for Gosling Sike.
Progress initial ideas for
new income streams for the
Trust.
Secure funding to continue
priority projects: marine,
peatland restoration,
grassland restoration,
pollinators, nature reserve
projects and acquisitions.
Identify funding options to
progress opportunities at
Bowber Head Farm.
Launch and develop a
regular giving scheme
linked to our social media
followers.
Prepare and submit
Countryside Stewardship
and Woodland Grant
Scheme applications.
Work on the integration of
our website and CRM
database and streamlining
of the Trust’s back office
processes to increase our
efficiency and
effectiveness.
Move to a new finance
system.
Implement
recommendations from a
governance review.		 £246,000 was secured from the Heritage
Emergency Fund to help us with post-COVID
recovery and future resilience. This included
funding for strategic evaluation reports on
developing our offer at Gosling Sike and
establishing environmental/ecological
consultancy as well as emergency works on
our nature reserves (e.g. to address some ash
die-back problems and repair bridges and
boardwalks to improve visitor access).
Other grants secured included:
£249,000 for peatland restoration through the
Green Recovery Challenge Fund; £300,000
from the Environment Agency for peatland
restoration on the Shap Fells; £80,000 from
Cumbria Waste Management Environment
Trust to create a ‘bee haven’ at The Swifts, a
former golf driving range now managed by
Carlisle City Council; £90,000 from the John
Ellerman Foundation, £48,000 from the
Maritime and Fisheries Fund and £203,000
from the National Lottery Heritage Fund
(NLHF) for our marine work; and £145,000
for our grassland work via a Plantlife bid,
mainly from NLHF.
Due to the pandemic, the regular giving
scheme was postponed.
Park Wood, Pickles Wood, the Hutton Roof
Coppice area, Grubbins Wood and Wreay
Woods were entered into new agri-
environment grant schemes.
Integration of various back-office processes
was progressed including the change of
finance system which went live from 1 April
2020 despite the lockdown. These changes
helped us deal with the demands of working
remotely.
Due to the challenges imposed by the
pandemic, the Governance Review was
postponed and has been re-scheduled for
the autumn of 2021.		 Further develop ways to attract
natural capital funding (e.g.
biodiversity net gain, wild
carbon, catchment funding,
peatland code and blue
carbon).
Develop and submit funding
bids to replace projects which
end in the next 12 months and
design new projects in light of
new approaches to online
working.
Establish a new conservation
‘match funding’ pot.
Further progress new income
streams including consultancy,
the plant nursery and visitor
experiences.
Implement a fundraising
campaign for conservation
work at Bowber Head Farm.
Launch the regular giving
scheme.
Implement further back-office
improvements.
Create and implement a
revised way of working which
blends office-based and home
working.
Combine online meetings with
face to face meetings.
Complete the governance
review and implement
recommendations.

All fundraising and member recruitment activities were undertaken by Cumbria Wildlife Trust staff. The Trust is committed to the fundraising codes of practice upheld by the Fundraising Regulator and our senior fundraising staff are members of the Institute of Fundraising. Our aim is to build a long-term relationship with our supporters. No complaints were received during the year concerning our fundraising activities.

12

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Financial Review

Together with grants arising from the UK Government’s response to the COVID-19 pandemic, an unusual level of donations and legacies boosted the Trust’s income for the year to £4,011,673 (2019/20 - £3,342,561). Most of the income is restricted to expenditure on specific conservation activities and a significant part of it is held in the Trust’s funds to facilitate conservation work in 2021/22, provide match funding for work that is not fully funded and mitigate reductions to agri-environment grants that are expected to have a significant impact over the next several years. Despite the restrictions imposed by the pandemic, significant capital works were undertaken in the second half of the year and expenditure on charitable activities was 28% higher than in 2019/20.

In brief, the comparative results of the two years are as follows:

Financial highlights 2020/21 2019/20
£’000s £’000s
Income excluding legacies and Bowber Head Farm 3,425 2,275
Legacies 587 308
Bowber Head Farm - 760
Total income 4,012 3,343
Less: Total expenditure 2,918 2,406
Net income before investment gains and losses 1,094 937
Gains/(losses) on investments 170 (79)
Net movement in funds 1,264 858
Total funds at the year-end 9,017 7,753

The Trust’s work was impeded by strictures resulting from the pandemic and many staff had to be furloughed for parts of the year. The financial effect of this was partially offset by the Coronavirus Job Retention Scheme from which the Trust received £142,589. Despite lockdowns, significant conservation work was completed and much preparatory work was undertaken to pave the way for the Trust’s activities in 2021/22 and beyond. Gathering resources for such activities and, in particular, to fund the skilled staff who manage them, is a task that demands considerable time and expertise. Much of the funding is in the form of grants from a combination of sources including charitable trusts, the National Lottery and government bodies such as Defra, Natural England and the Environment Agency. Where these sources prove insufficient, the balance is supplied by voluntary income such as legacies, donations and membership subscriptions. Despite concerns over the likely impact of the pandemic on income, it turned out to be a truly remarkable year - especially for donations from Trust members and other individuals. Grants from emergency funds provided resources to support a switch to primarily online methods of keeping in touch with the public and providing informative events. This helped produce a huge increase in the number of donations and a significant growth in membership. Achievements against fundraising objectives set for the year were as follows:

Objective Achievement
£’000s £’000s
Membership subscriptions 624 632
Donations (excluding the gift of Bowber Head Farm)
77		 260
Legacies 150 587

The total number of Trust memberships rose by 8% in the year to 8144 at 31 March 2021. At well over £600,000 the unrestricted income contributed annually in the form of membership subscriptions is essential to the Trust’s long-term financial stability. Maintaining good relations with our members is at the core of the Trust’s ethos and Trust members demonstrate a life-long commitment to our work. Many donate generously to the Trust’s work, either to support specific purposes or for use completely at the Trust’s discretion. Some members remember our work in their wills and this was particularly apparent in 2020/21; only once in the last 25 years has legacy income been greater. These sources of voluntary income don’t just enable us to do many things which would not otherwise be possible but are also vital to the Trust’s long-term financial health. The Trust aims for a long-term relationship with its supporters, takes a non-aggressive approach to fundraising and is protective of the data provided to it by each individual.

13

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Financial Reserves Policy and Investment Performance

The objective of the Trust's investment policy is to avoid the erosion of its reserves by inflation and thereby increase the value of its assets to make more funds available to benefit wildlife. To this end, it invests funds for the longer term which are not needed to meet short-term cash requirements and, in so doing, it will not knowingly invest in entities whose activities may reasonably be perceived to be contrary to the objects of the Trust. At the year-end, 83% of the Trust's investment portfolio was held in the Barings Targeted Return Fund. Until 17 January 2020, the objective of this fund was to produce a return of CPI plus 5% on a three-year rolling basis with less than equity market risk. On that date, the objective was lowered to CPI plus 3%. Performance over the year was a gain of 20.3% and over the 12 years since inception was an annual return of 7.3% compared with a target of 7.0%. However, Barings has subsequently closed the Targeted Return Fund. A suitable long-term alternative is being sought.

Overall, the Trust's long-term investments produced a net gain of £170,451 during the year compared with a net loss of £79,055 in 2019/20. The balance sheet value of the investment portfolio at 31 March 2021 was £1,032,373 (31 March 2020 - £861,922).

Review of Financial Reserves

The Trust’s Financial Reserve Policy recognises the need for a free reserve which is sufficient to manage the risks and fluctuating financial needs of the Trust and the importance of this policy has recently been demonstrated by the impact of COVID-19. The Trust defines its free reserves as those which are readily available, thus excluding fixed assets, and not restricted or designated to particular purposes. The agreed target for this reserve, which is reviewed annually, is currently set at £600,000. At 31 March 2021 free reserves were £600,091 (31 March 2020 - £632,283).

ch 2020 - £632,283).
2020/21 2019/20
£’000s £’000s
Restricted funds held as fixed assets, mainly nature reserves 3,658 3,658
Restricted funds held as current assets 1,672 1,055
Endowment funds 75 66
Designated funds held as fixed assets 1,162 1,182
Designated funds held as investments 870 776
Designated funds held as current assets 722 116
Unrestricted funds held as fixed assets 258 268
Free reserves 600 632
Total funds at the year-end 9,017 7,753

Restricted and designated funds held as fixed assets (primarily nature reserves and buildings) are expected to be retained by the Trust in order to carry out its charitable objectives. Restricted funds held as current assets will be expended in future years on the purposes to which they were restricted. Designated funds include funds received as “one-off” donations and legacies without any absolute restriction on their use which have been designated by the Trustees in accordance with the donors’ general preferences. Those held as current assets and investments are expected to be expended as appropriate opportunities arise. In the case of funds designated to the purchase of nature reserves it can be a number of years before suitable land becomes available. Designated fund investments include a farm valued at £325,000 which was left to the Trust in a legacy but which is not expected to be realised until the farm tenancy has ceased. Further details of the restricted, designated and endowment funds are provided in notes 21 to 25 of the accounts.

Risk Management and Fundamental Uncertainties

The Senior Management Team and Audit & Risk Committee conducted a Risk Management Review on behalf of the Board as part of the Trust’s annual planning and budgeting process. This was conducted in line with Charity Commission guidance CC26 - Charities and risk management prior to submission to the Board for discussion and agreement. COVID-19 remained in the ‘Extreme’ category and two other risks were considered to be greater than ‘Moderate’ – the impact of Brexit and changes to Funding Priorities. The systems and procedures in place to minimise or manage identified risks were also evaluated as part of the review. Consideration of the risks to which the charity is exposed remains a continuous process and any new or increased risks are reviewed when they are identified.

14

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

The Trustees’ reviews of the adequacy of the Financial Reserve include consideration of the Trust’s expected working capital requirements and significant risks to major income sources including a severe reduction in legacies; a major reduction in grants and donations due to a loss in reputation or other external factor; a major reduction in Trust membership. The Trustees are also conscious of the continuing uncertainties surrounding agri-environment grant schemes and are actively monitoring the situation and any likely effects on the Trust’s income.

Overview

Despite the disruption caused by COVID-19 throughout 2020/21 and beyond, Cumbria Wildlife Trust continues to grow and much has been achieved in the year. Much of the success is due to the generosity of members and other donors and to the hard work and ingenuity of staff and volunteers. The Trustees acknowledge the collective effort required to produce another productive year and congratulate the Chief Executive and his staff and many volunteers for this achievement.

Strategic report

The information above including Objectives and activities, Main achievements of the year and Financial review forms the Strategic report for the purpose of the Companies Act 2006.

Structure, Governance and Management

Cumbria Wildlife Trust is a registered charity (charity number 218711) incorporated as a company limited by guarantee (company number 00724133) and governed by its Memorandum and Articles of Association. The Trust was formed in 1962 as the Lake District Naturalists’ Trust and on local government re-organisation in 1974 it changed its name to the Cumbria Naturalists’ Trust. It changed its name again in 1981 to the Cumbria Trust for Nature Conservation and finally, in 1989, to Cumbria Wildlife Trust Limited.

The Trust is governed by a Board of Trustees. A Treasurer, a Secretary and the Chairs of the Trust’s Conservation and Development Committees are appointed, as Trustees, by the Board. Eight individual Trustees are elected by the Trust’s members. The Board, which meets at least six times a year, elects one of its number as Chair. The Trustees have adopted the Charity Governance Code and are guided by its principles and recommended practice for good governance.

The Trust has several committees which advise the Board: a Conservation Committee, a Development Committee, an Audit and Risk Committee, a Health and Safety Committee and a Salaries Review Committee. Each of these is chaired by a Trustee and meets to consider issues and policy matters. Ad-hoc working groups are set up to consider particular issues and topics. The Trust also has a countywide network of Local Support Groups which are accountable to the Development Committee.

The Chief Executive is responsible to the Chair and attends and reports to all meetings of the Board. The Board is responsible for setting the strategic direction of the Trust, particularly through the annual planning process, and approving various matters when they exceed set authority limits. Day-to-day management is delegated to the Chief Executive and, through him, to the Senior Management Team which in addition to the Chief Executive comprises the Conservation Manager, the Development Manager and the Finance and Administration Manager. The Senior Managers also report regularly to the relevant committees. Shortly prior to the first lockdown, the Board commenced a review of its governance arrangements including, in particular, the aim of identifying further improvements to the effectiveness of its committees. This process is ongoing. Together with the Trustees, the Chief Executive and Senior Management Team are the Trust’s key management personnel. The remuneration of the Chief Executive and Senior Management Team is reviewed annually by the Salaries Review Committee with reference to the annual rate of inflation and to the remuneration of similar posts in other organisations.

During the year, Cumbria Wildlife Trust Limited had one subsidiary, Wildlife Cumbria Ltd, which has been dormant since 2003.

15

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Cumbria Wildlife Trust Environmental Body

Cumbria Wildlife Trust is registered as an ‘Environmental Body’ which enables it to receive and distribute funds made available by landfill operators through the landfill tax credit scheme. It received no income in the year (2019/20 - £55,500) but made expenditure from funds received in the previous year.

Trustees

The Trustees of Cumbria Wildlife Trust during the year are listed in the Legal and Administrative Information at the beginning of this report. Any member of the Trust not disqualified by law or other regulation can become a Trustee and nominations for Individual Trustees are submitted to the Annual General Meeting (AGM); those elected serve a four-year term. The Trust operates an eight-year rule for both Appointed and Individual Trustees. Individual Trustees are eligible to serve for two consecutive four-year terms before they must stand down. The Board of Trustees has discretion to extend the term of the Chair or any Appointed Trustee by up to four additional years.

The eight-year rule results in a regular turnover of Trustees and an ongoing process of re-vitalisation with new blood. It is rare for there to be a contested election at the AGM and the normal procedure is to carry out a regular skills audit of Trustees in order to identify skills gaps which may arise from Trustee resignations or from operation of the eight-year rule. Vacancies for Individual Trustees are often filled initially by the co-option of suitably skilled candidates who are then eligible for election at the following AGM.

Most new Trustees are longstanding Trust members and active volunteers with proven understanding of the purpose of the organisation. A formal induction process is undertaken by new Trustees who are provided with reference materials which include Charity Commission guidance. Quarterly activity reports are provided by staff to the Trustees and Board meetings include regular briefings by specialist staff on their specific areas of activity. Other ongoing training needs are met as they are identified.

Cumbria Wildlife Trust’s Policies

The Board of Trustees has established a suite of policy statements. These cover nature conservation topics, such as Nature Reserve Acquisition and Disposal, Wildlife Sites, Reserve Management and Education, and operational policies covering Monetary and Financial Reserves, Equal Opportunities, Health and Safety, and Ethical Fundraising. Policies are updated on a three or five year basis and new policies are added when necessary. In the interests of openness, policies are available to members and the public on request.

Associated Organisations

Cumbria Wildlife Trust is an independent autonomous charity. Each county in England and Wales, or in some instances a group of counties, has a similar charity which, together with sister charities in Scotland and Northern Ireland, come together to form The Royal Society of Wildlife Trusts (RSWT), known collectively as 'The Wildlife Trusts'. As an autonomous umbrella charity established to conserve nature nationally and support individual Wildlife Trusts, RSWT represents the individual Wildlife Trusts on a national basis and employs staff with national responsibilities.

The individual Wildlife Trusts work together both nationally and regionally to benefit wildlife although each Trust retains its independence and autonomy. The three Wildlife Trusts in the northwest region: Cumbria, Lancashire and Cheshire, work together on a small number of projects as ‘The North West Wildlife Trusts’, in partnership but not as a legal entity. Seven northern Trusts also meet together to discuss mutual benefit and collaboration.

The Trust also works with a large number of other organisations in pursuing its aims and objectives. Partnerships with local authorities, statutory agencies and other voluntary bodies are a hallmark of the Trust’s way of working. The Trust acts as the lead partner in both the Cumbria Local Nature Partnership and the Cumbria Peat Partnership. The Trust is also a partner in a project led by Northumberland Wildlife Trust to conserve red squirrels. This project employs a number of people who work in Cumbria one of whom is housed in the Trust’s Northern Office. Many of the Trust’s conservation projects are operated as partnerships.

16

CUMBRIA WILDLIFE TRUST LIMITED

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

Statement of Trustees’ Responsibilities

Company law requires the Trustees, as company directors, to prepare financial statements for each financial year which give a true and fair view of the affairs of the charitable company and the group; and of the surplus or deficit of the group for the year. In preparing those financial statements, the Trustees are required to:

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

So far as each of the Trustees is aware at the time the report is approved:

Auditor

The auditor, Crowe U.K. LLP, will be proposed for reappointment in accordance with Section 485 of the Companies Act 2006.

The Trustees have taken advantage of the small companies exemptions provided in Section 415A of the Companies Act 2006.

Approved by the Trustees on 11 October 2021.

Signed on behalf of the Trustees

Julie Barrett Registered office: Plumgarths Crook Road Kendal Cumbria LA8 8LX

17

CUMBRIA WILDLIFE TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CUMBRIA WILDLIFE TRUST LIMITED

YEAR ENDED 31 MARCH 2021

Opinion

We have audited the financial statements of Cumbria Wildlife Trust Limited for the year ended 31 March 2021 which comprise Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

18

CUMBRIA WILDLIFE TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CUMBRIA WILDLIFE TRUST LIMITED

YEAR ENDED 31 MARCH 2021

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 17, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were

19

CUMBRIA WILDLIFE TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CUMBRIA WILDLIFE TRUST LIMITED

YEAR ENDED 31 MARCH 2021

the Companies Act 2006, Charities Act 2011 and employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and completeness of income. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, sample testing from grant and contract documentation and a proof in total of membership fees from the membership database.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Jayson Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor The Lexicon Mount Street Manchester M2 5NT 18 October 2021

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

20

CUMBRIA WILDLIFE TRUST LIMITED

CONSOLIDATED SUMMARY STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2021

Notes
Income and endowments
Charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
3
Donations, legacies and
other voluntary income
4
Other trading activities
5
Investments
6
Other
7
Total income and endowments
Expenditure on:
Charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
Raising funds
Total expenditure
8
Net gains/(losses) on
investments
16
Net income/(expenditure)
Transfers between funds
21 to 24
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Designated
funds
Restricted
funds
Endowment
funds
Total
2021
Total
2020
£
£
£
£
£
£
2,439
-
138,290
-
140,729
50,620
473,347
-
296,046
-
769,393
1,321,084
75,562
-
1,428,687
-
1,504,249
903,447
551,348
1,863,023
-
2,414,371
2,275,151
1,220,406
-
332,314
-
1,552,720
999,883
31,317
-
-
-
31,317
39,016
7,559
-
-
2,310
9,869
10,868
3,396
-
-
-
3,396
17,643
1,814,026
-
2,195,337
2,310
4,011,673
3,342,561
242,293
3,222
90,126
-
335,641
319,317
440,273
4,949
287,262
-
732,484
756,058
310,465
25,465
1,086,610
-
1,422,540
864,750
993,031
33,636
1,463,998
-
2,490,665
1,940,125
308,859
4,545
113,848
-
427,252
465,835
1,301,890
38,181
1,577,846
-
2,917,917
2,405,960
161,121
-
-
9,330
170,451
(79,055)
673,257
(38,181)
617,491
11,640
1,264,207
857,546
(715,690)
718,000
-
(2,310)
-
-
(42,433)
679,819
617,491
9,330
1,264,207
857,546
900,258
2,073,560
4,712,897
65,861
7,752,576
6,895,030
857,825
2,753,379
5,330,388
75,191
9,016,783
7,752,576

The statement of financial activities contains all gains and losses for the year and all activities relate to continuing operations. The profit for the purposes of the Companies Act 2006 is the net incoming resources before unrealised losses/gains. These financial statements have been prepared in accordance with FRS102.

The notes on pages 24 to 43 form part of these financial statements.

21

CUMBRIA WILDLIFE TRUST LIMITED (Registered number: 00724133)

BALANCE SHEET

YEAR ENDED 31 MARCH 2021

Notes
2021
2020
£
£
Fixed assets:
Intangible assets
12
11,313
18,017
Tangible assets
12
1,469,669
1,493,321
Heritage assets
13 to 15
3,595,885
3,595,885
Investments
16
1,357,373
1,186,922
Total fixed assets
6,434,240
6,294,145
Current assets:
Stock
688
688
Debtors
17
1,337,680
613,470
Investments (term deposits)
435,276
435,276
Cash at bank and in hand
1,273,670
501,723
Total current assets
3,047,314
1,551,157
Liabilities:
18
(464,771)
(92,726)
Net current assets
2,582,543
1,458,431
Total net assets
9,016,783
7,752,576
The funds of the charity
Unrestricted funds:
Designated funds
21
2,753,379
2,073,560
General funds
857,825
900,258
Restricted funds
22
5,330,388
4,712,897
Endowment funds
23
75,191
65,861
Total charity funds
9,016,783
7,752,576
Group
Creditors: Amounts falling due within one year		 2021
2020
£
£
11,313
18,017
1,469,669
1,493,321
3,595,885
3,595,885
1,357,473
1,187,022
Trust
6,434,340
6,294,245
688
688
1,337,680
613,470
435,276
435,276
1,273,670
501,723
3,047,314
1,551,157
(464,871)
(92,826)
2,582,443
1,458,331
9,016,783
7,752,576
2,753,379
2,073,560
857,825
900,258
5,330,388
4,712,897
75,191
65,861
9,016,783
7,752,576

In preparing these financial statements, and the notes on pages 24 to 43, the Trustees have taken advantage of the small companies exemptions provided in Section 415A of the Companies Act 2006. They were approved and authorised for issue by the Trustees on 11 October 2021 and are signed on their behalf by:

David Sharrod Chair

Julie Barrett Treasurer

The notes on pages 24 to 43 form part of these financial statements.

22

CUMBRIA WILDLIFE TRUST LIMITED

CONSOLIDATED CASH FLOW STATEMENT

YEAR ENDED 31 MARCH 2021

Cash flows from operating activities:
Net income/(expenditure) for the reporting period (as
per the statement of financial activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rents from investments
Loss/(profit) on the sale of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Gift of land and buildings
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Purchase of heritage assets
Proceeds from sale of investments
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the year:
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Cash and cash equivalents comprise the following:
At the end of the year:
Cash in hand
Notice deposits (less than 1 year)
Total cash and cash equivalents at the end of the year
At the beginning of the year:
Cash in hand
Notice deposits (less than 1 year)
Total cash and cash equivalents at the beginning of the year
Note to the Cash Flow Statement: Analysis of changes in net debt
1 April
2020
Cash
Flows
£
£
Cash and cash equivalents
Cash
501,723
771,947
Cash equivalents
435,276
-
936,999
771,947		 Cash flows from operating activities:
Net income/(expenditure) for the reporting period (as
per the statement of financial activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rents from investments
Loss/(profit) on the sale of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Gift of land and buildings
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Purchase of heritage assets
Proceeds from sale of investments
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the year:
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Cash and cash equivalents comprise the following:
At the end of the year:
Cash in hand
Notice deposits (less than 1 year)
Total cash and cash equivalents at the end of the year
At the beginning of the year:
Cash in hand
Notice deposits (less than 1 year)
Total cash and cash equivalents at the beginning of the year
Note to the Cash Flow Statement: Analysis of changes in net debt
1 April
2020
Cash
Flows
£
£
Cash and cash equivalents
Cash
501,723
771,947
Cash equivalents
435,276
-
936,999
771,947		 2021
2020
£
£
1,264,207
857,546
63,978
47,243
(170,451)
79,055
(9,869)
(10,868)
-
(1,250)
-
-
(724,210)
80,121
372,045
(251,867)
-
(801,800)
795,700
(1,820)
9,869
10,868
-
1,250
(33,622)
(55,757)
-
-
-
200,000
(23,753)
156,361
936,999
782,458
1,708,946
936,999
1,273,670
501,723
435,276
435,276
1,708,946
936,999
501,723
550,088
435,276
232,370
936,999
782,458
Non-cash
changes
31 March
2021
£
£
-
1,273,670
-
435,276
936,999
771,947		 -
1,708,946

The notes on pages 24 to 43 form part of these financial statements.

23

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Cumbria Wildlife Trust is a private charitable company limited by guarantee. Further information is included on page 1.

Basis of Accounting

The financial statements have been prepared under the historical cost convention, with the exception of fixed asset investments which are valued at their market value at the balance sheet date. The financial statements have been prepared in accordance with the Statement of Recommended Practice 2015 “Accounting and Reporting by Charities”, the Companies Act 2006 and Financial Reporting Standard 102 (FRS102). The Trustees consider the charity to be a public benefit entity.

Going concern

The COVID-19 pandemic had a significant, immediate impact on the Trust’s operations which, during the ‘lockdowns’ were significantly reduced. However, steps taken to utilise the various support mechanisms instigated by the UK government and other funders proved very successful in mitigating the potential impact of the pandemic on the Trust’s income streams. The Trustees are conscious of the fact that much of that impact, particularly on grants and donations, may only be revealed over the next 12 to 24 months.

The Trust meets its ordinary working capital requirements through its free reserves the level of which is reviewed at least annually to account for identified risks and working capital requirements which are assessed according to annual budgets, forecasts and changes as they occur. At the year-end, the Trust’s free reserves were approximately £600,000, the level set by the Trustees.

Having regard to the above, the Trustees believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Basis of Consolidation

These financial statements consolidate the results of the charity and its wholly-owned subsidiary Wildlife Cumbria Limited on a line by line basis. They also include, on a line by line basis, the results of the Trust’s support groups and affiliate groups, as detailed in note 27. A separate Statement of Financial Activities, or income and expenditure account, has not been prepared for the charity itself as permitted by section 408 of the Companies Act 2006.

Fund Accounting

Cumbria Wildlife Trust’s accounts are an amalgamation of over one hundred individual funds. These divide into legally distinct categories which are defined as follows:

Unrestricted Funds

Unrestricted or general funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity.

Designated Funds

Designated funds have been set aside out of unrestricted funds and are designated by the Trustees for specific purposes.

Restricted Funds

Restricted funds are funds subject to specific trusts or conditions which are declared or made by the donor, or with the authority of the donor (e.g. an appeal). Details of the funds and of the restrictions are given in the notes to the accounts.

Endowment Funds

Endowment funds are capital funds which the Trust is legally prevented from spending and must retain intact as part of the Trust’s capital. These endowment funds are held in fixed asset investments and interest-bearing bank accounts to provide income for the Trust’s activities.

24

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

Incoming Resources

Life and annual membership subscriptions are included in full in the period they are received.

Restricted income is included in the restricted income and expenditure account when receivable.

Where the donor requires the sum to be invested to provide income for the Trust’s purposes, it is treated as an endowment gift. Endowments are credited to income when receivable.

Donations under Gift Aid, together with the associated income tax recovery, are recognised as income when the donation is made.

Each legacy and bequest entitlement is recognised as an incoming resource once a reasonably reliable estimate of its value can be made and when it is reasonably certain of ultimate receipt.

Grants receivable for activities are credited to income upon entitlement.

Incoming resources in the form of donated assets (other than cash) are included in income at market value and, where appropriate, they are capitalised.

Income from the Trust’s lottery is recognised in the accounting period to which it relates.

Contract income is earned from the provision of services to other organisations and is recognised in the year in which it is earned rather than when it is received.

Cash in transit is included as income where it was in the post or was being transferred to the Trust’s bank account at the year end.

Deferred Income

Where lottery income is received in advance of the period to which it relates, that income is recognised on the balance sheet as deferred income until such time as it is receivable.

Resources Expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Cost of raising funds comprises the costs associated with attracting voluntary income and the costs of other income generation.

Charitable expenditure comprises direct expenditure including direct staff costs attributable to the Charity's activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources as detailed below.

Governance costs include those costs incurred in the governance of the Charity's assets and are associated with constitutional and statutory requirements.

Support costs include the central functions and have been allocated to activity cost categories on the basis of staff numbers.

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity. Costs of providing pensions are charged to the Income and Expenditure Account in the period in which contributions are made, in accordance with FRS102.

25

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

Fixed Assets and Depreciation

Depreciation is not provided on freehold and long leasehold land or land acquired by the Trust for nature reserves.

Nature reserves are considered to be heritage assets.

Long leasehold is considered to have a useful life of more than 50 years.

Depreciation is provided on all tangible fixed assets, other than land and nature reserves, at rates calculated to write off the cost or fair value less estimated residual value of each asset over its expected useful life as follows:

Freehold Buildings 2% to 5% per annum straight line Computer Equipment 33% per annum straight line Plant & Equipment 20% per annum straight line Motor Vehicles 25% per annum straight line

Freehold buildings are depreciated to write down the cost less estimated residual value over the remaining useful life in equal annual instalments.

Intangible fixed assets are amortised at rates calculated to write off the cost or fair value of each asset over its expected useful life as follows:

Computer Software

20% per annum straight line

Donated assets, other than nature reserves, are included at fair value at the date of acquisition. It is the policy of the Trustees to expense minor additions to fixed assets, defined as those costing less than £2,000, in the year in which they are incurred.

Heritage Assets

The nature reserves held by the Trust for the furtherance of its charitable activities are disclosed as heritage assets within the balance sheet. Nature reserves that have been acquired recently have been recognised at cost where the Trust has purchased the asset or market value where the land has been gifted to the Trust. Nature reserves acquired before 1990 were not capitalised at the time of acquisition and are recognised at market value ascertained by the Trustees with reference to current agricultural land values. The Trust’s management policy in respect of its heritage assets is summarised in Note 15. The costs of maintaining the heritage assets are expensed through the Statement of Financial Activities as incurred, as part of the Trust's charitable activities.

Further information on heritage assets is given in Notes 13, 14, 15 and 31 to the accounts.

Investments

Fixed asset investments are stated at their market value at the balance sheet date with any gain or loss on revaluation being recognised in the Statement of Financial Activities in the period. Current asset investments are deposits which, at the balance sheet date, are available at less than one year’s notice.

The Trust’s investment property, Lunds Farm, is stated at fair value as determined by the directors.

Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

26

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

Judgments in applying accounting policies and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Useful economic lives of tangible and intangible assets

The annual depreciation charge for tangible and intangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The Trustees do not consider that enhancements to nature reserves made for the purpose of improving their conservation value, or for ease of access, increase their economic value and they are therefore not capitalised. See note 12 for the carrying amount of the property plant and equipment, and the Fixed Assets and Depreciation section (above) of this note for the useful economic lives for each class of assets.

27

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

2.
CONSOLIDATED SUMMARY STATEMENT
Notes
Income and endowments
Charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
3
Donations, legacies and other
voluntary income
4
Other trading activities
5
Investments
6
Other
7
Total income and endowments
Expenditure on:
Charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
Raising funds
Total expenditure
8
Net gains/(losses) on
investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 OF FINANCIAL ACTIVITIES FOR THE PREVIOUS YEAR
Unrestricted
funds
Designated
funds
Restricted
funds
Endowment
funds
Total
2020
£
£
£
£
£
1,123
-
49,497
-
50,620
335,672
-
985,412
-
1,321,084
44,833
-
858,614
-
903,447
381,628
1,893,523
-
2,275,151
965,919
-
33,964
-
999,883
39,016
-
-
-
39,016
8,038
-
-
2,830
10,868
17,643
-
-
-
17,643
1,412,244
-
1,927,487
2,830
3,342,561
227,993
2,893
88,431
-
319,317
440,667
16,900
298,491
-
756,058
215,640
14,621
634,489
-
864,750
884,300
34,414
1,021,411
-
1,940,125
460,339
5,496
-
-
465,835
1,344,639
39,910
1,021,411
-
2,405,960
(69,176)
-
-
(9,879)
(79,055)
(1,571)
(39,910)
906,076
(7,049)
857,546
(6,488)
1,461
7,857
(2,830)
-
(8,059)
(38,449)
913,933
(9,879)
857,546
908,317
2,112,009
3,798,964
75,740
6,895,030
900,258
2,073,560
4,712,897
65,861
7,752,576

The statement of financial activities contains all gains and losses for the year and all activities relate to continuing operations. The profit for the purposes of the Companies Act 2006 is the net incoming resources before unrealised gains and losses. These financial statements have been prepared in accordance with FRS102.

28

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

3. INCOME FROM CHARITABLE ACTIVITIES

Year to 31 March 2021

Inspiring people
Creating wildlife havens
Standing up for wildlife		 Unrestricted
grants
Restricted
grants
Donations
Landfill
tax credit
income
Other
income
Total
2021
£
£
£
£
£
£
-
89,878
48,440
-
2,411
140,729
449,250
209,188
88,914
-
22,041
769,393
-
1,381,160
48,242
-
74,847
1,504,249
449,250
1,680,226
185,596
-
99,299
2,414,371

Year to 31 March 2020

Inspiring people
Creating wildlife havens
Standing up for wildlife		 Unrestricted
grants
Restricted
grants
Donations
Landfill
tax credit
income
Other
income
Total
2020
£
£
£
£
£
£
-
34,461
15,504
-
655
50,620
315,679
194,183
768,878
25,500
16,844
1,321,084
-
823,662
5,472
30,000
44,313
903,447
315,679
1,052,306
789,854
55,500
61,812
2,275,151

The above grants were receivable during the year and any residual balances are included in debtors or cash in hand and at bank as appropriate.

4. GENERAL GRANTS, DONATIONS, LEGACIES AND OTHER VOLUNTARY INCOME

Donations
Legacies
Coronavirus job retention scheme grant
Other grants
Membership subscriptions
Membership subscriptions
Subscriptions received
Business support scheme		 2021
2020
£
£
73,911
90,884
586,635
308,686
142,589
-
117,556
5,671
632,029
594,642
1,552,720
999,883
624,729
581,617
7,300
13,025
632,029
594,642

5. OTHER TRADING ACTIVITIES

Trading income
Lottery income
Fundraising events
Income from room hire		 2021
2020
£
£
8,321
7,677
19,734
18,972
3,262
10,082
-
2,285
31,317
39,016

29

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

6. INCOME FROM INVESTMENTS

INCOME FROM INVESTMENTS
Interest and dividends
Rental from investment property
OTHER INCOME
Local support groups
Other miscellaneous income
EXPENDITURE
Year to 31 March 2021
Expenditure on charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
Total
Expenditure on raising funds
TOTAL EXPENDITURE
Year to 31 March 2020
Expenditure on charitable activities:
Charitable activities:
Inspiring people
Creating wildlife havens
Total
Expenditure on raising funds
TOTAL EXPENDITURE		 Activities
undertaken
directly
£
240,837
586,871
1,181,489		 2021
2020
£
£
5,475
6,857
4,394
4,011
9,869
10,868
2021
2020
£
£
20
5,174
3,376
12,469
3,396
17,643
Support
costs
Total
2021
£
£
94,804
335,641
145,613
732,484
241,051
1,422,540
481,468
2,490,665
111,361
427,252
592,829
2,917,917
Support
costs
Total
2020
£
£
69,019
319,317
138,550
756,058
162,101
864,750
369,670
1,940,125
110,957
465,835
480,627
2,405,960
2,009,197
315,891
2,325,088
Activities
undertaken
directly
£
250,298
617,508
702,649
1,570,455
354,878
1,925,333

7. OTHER INCOME

8. EXPENDITURE

Support costs are allocated on the basis of the number of full time equivalents engaged in each activity.

30

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

8.
EXPENDITURE (continued)
ACTIVITIES UNDERTAKEN DIRECTLY
Expenditure on charitable activities
Personnel costs
Contractors and consultants
Materials and equipment
Publications and information
Events
Depreciation
Other costs
Expenditure on raising funds
Trading costs
Membership scheme costs
Lottery costs
Fundraising costs
Total cost of activities undertaken directly
MEMBERSHIP SCHEME COSTS
Personnel costs
Membership magazines and other materials
Postage, IT and other office costs
Depreciation
Other costs
SUPPORT COSTS
Governance costs
Personnel costs
Trustees' expenses
Trustee training
Professional indemnity insurance
Auditor's remuneration
Other governance costs
Other support costs
Personnel costs
Property expenses
Royal Society of Wildlife Trusts levy
Postage, IT and other office costs
Insurance
Depreciation
Other costs		 2021
2020
£
£
1,018,543
1,052,264
735,342
325,082
67,994
47,177
30,904
29,144
3,382
46,795
19,943
12,698
133,089
57,295
2,009,197
1,570,455
4,056
3,633
248,669
289,921
11,421
10,405
51,745
50,919
315,891
354,878
2,325,088
1,925,333
144,949
184,767
44,814
48,592
41,504
30,599
6,704
6,704
10,698
19,257
248,669
289,919
2021
2020
£
£
32,411
21,453
-
390
-
2,097
3,528
962
11,962
10,008
2,327
2,012
50,228
36,922
327,500
266,048
61,644
74,597
32,941
33,640
41,137
7,124
23,867
16,905
37,332
27,840
18,180
17,551
592,829
480,627

31

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

9. NUMBERS AND EMOLUMENTS OF STAFF

Staff costs are broken down as follows:
Payroll costs
Training including bursaries
Other staff costs
Trust vehicles
Volunteer expenses		 2021
2020
£
£
1,528,517
1,444,269
11,148
38,298
12,058
46,084
13,010
19,864
1,600
3,325
1,566,333
1,551,840
analysed by function, was:
Charitable activities:
Inspiring people
Creating wildlife havens
Standing up for wildlife
Raising funds
Support
The average number of employees in the year,		 2021
Total
number
Full-time
equivalent
7
5
10
8
16
13
8
6
11
8
52
40		 2020
Total
number
Full-time
equivalent
7
5
13
10
15
11
11
8
10
7
56
41

One member of staff received emoluments totalling more than £60,000 (2019/20: one). The total remuneration of the Chief Executive and three Senior Managers in the period was £195,302 (2019/20: £186,447).

A stakeholder pension scheme with Aviva is available to Trust staff. Pension costs have been allocated to activities and funds according to the work undertaken by each member of staff.

10. TRUSTEES' REMUNERATION, EXPENSES AND DONATIONS

The Trustees of the Charity did not receive any remuneration during the period (2019/20: £nil). No travel and subsistence expenses were claimed by Trustees or paid on their behalf (2019/20: £71).

Donations received from three members of the Board totalled £20,655 (2019/20: total donations of £5,852 received from three Board members.)

11. RELATED PARTY TRANSACTIONS

David Sharrod, the Chair of Trustees of Cumbria Wildlife Trust, was Chief Executive of Yorkshire Dales Millennium Trust during the year but exercised no control over the award of grants to Cumbria Wildlife Trust. During the year ended 31 March 2021, the Trust received income from Yorkshire Dales Millennium Trust totalling £3,000 (2019/20: £34,218).

32

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

12. FIXED ASSETS Group and Trust

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Depreciation on disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Tangible assets
Property
Equipment
Vehicles
£
£
£
1,497,027
314,513
83,280
-
33,622
-
-
-
-
1,497,027
348,135
83,280
98,482
236,421
66,596
25,590
25,187
6,497
-
-
-
124,072
261,608
73,093
1,372,955
86,527
10,187
1,398,545
78,092
16,684		 Intangible
assets
Total
Software
£
£
1,894,820
47,472
33,622
-
-
(13,950)
1,928,442
33,522
401,499
29,455
57,274
6,704
-
(13,950)
458,773
22,209
1,469,669
11,313
1,493,321
18,017

Intangible assets shown above is computer software used in the adminstration of the organisation. Based on its specification and the Trust's plans, the Trustees expect the software to have a useful life of at least five years. Amortisation of the software is shown as membership scheme costs in Note 8 and thus as expenditure on raising funds in the Statement of Financial Activities.

The net book value at 31 March 2021 represents fixed assets used for:

Charitable activities
Inspiring people
Creating wildlife havens
Standing up for wildlife
Generating funds
Fundraising
Membership
Headquarters		 Tangible assets
Property
Equipment
Vehicles
£
£
£
-
1,705
-
35,582
22,050
10,188
-
32,764
-
35,582
56,519
10,188
-
-
-
-
-
-
-
-
-
1,337,373
30,007
-
1,372,955
86,526
10,188		 Intangible
assets
Total
Software
£
£
1,705
-
67,820
-
32,764
-
102,289
-
-
-
-
11,313
-
11,313
1,367,380
-
1,469,669
11,313

33

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

13. HERITAGE ASSETS Group and Trust

HERITAGE ASSETS
Group and Trust
Cost or valuation
At 1 April 2020
Additions
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 £
3,595,885
-
3,595,885
3,595,885
3,595,885

14. FIVE YEAR FINANCIAL SUMMARY OF HERITAGE ASSET TRANSACTIONS Group and Trust

Group and Trust
Additions:
Purchases
Donations
Total		 2021
2020
2019
2018
2017
£
£
£
£
£
-
-
121,671
23,044
43,000
-
372,000
-
76,500
-
-
372,000
121,671
99,544
43,000

There were no disposals during this period.

15. HERITAGE ASSETS ACQUISITION AND MANAGEMENT POLICY

Cumbria Wildlife Trust owns some of the finest wildlife habitats in Cumbria and many of these are of national and European importance. Twenty four of the Trust’s nature reserves are scheduled as Sites of Special Scientific Interest under the Wildlife and Countryside Act. Fifteen of the Trust’s nature reserves are also of international importance being designated as Special Areas of Conservation and four of these are also Special Protection Areas and/or Ramsar Sites. The Trust manages two of the finest limestone pavements in Europe at Hervey Reserve on Whitbarrow and at Hutton Roof Crags, four of the finest lowland raised mires in Europe at Drumburgh Moss, Foulshaw Moss, Meathop Moss and Nichols Moss and five internationally important coastal sites at South Walney, Eskmeals, Rockcliffe Marsh, Humphrey Head and Foulney Island. Eycott Hill is both a Geological and Biological SSSI. It is the type locality for the Eycott Hill Volcanics Group and is important in understanding the formation of the Lake District. The upland mires at Eycott are nationally important and considered some of the best in the country. Many of the Trust’s other reserves are nationally significant such as Clints Quarry, a former limestone quarry; Orton Moss, Newton Reigny Moss, Burnsbeck Moss and Hale Moss are all important mossland sites; woodland and grassland at Smardale are also of national interest. Other reserves contain important examples of ancient woodland such as at Barkbooth, Grubbins Wood and Brown Robin, or flower rich grassland as at Bowber Head Farm, Latterbarrow and Waitby Greenriggs.

34

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

15. HERITAGE ASSETS ACQUISITION AND MANAGEMENT POLICY (continued)

The Trust has for many years operated a detailed Nature Reserves Acquisition Policy which is regularly reviewed and updated. This requires that land proposed for acquisition by purchase or to be accepted as a gift is itself of significant wildlife benefit or enhances the wildlife benefit derived from land already managed by the Trust. Other matters taken into account include access, ease of management and funding for the purchase and annual management costs. Some of the Trust’s existing reserves do not meet the current acquisition criteria. However, there is a presumption against disposal of such sites except where the costs of continued essential management are likely to be considerable or the Trust is not the owner of the land but holds it on a lease or management agreement, or if it is abundantly clear that the site is never likely to meet the criteria of ecological quality and integrity.

The Trust’s Nature Reserves Management Policy is directed towards maintaining and/or enhancing features identified as important for wildlife. This entails keeping up-to-date management plans, which are implemented by specialist staff, honorary reserves managers and volunteers, and monitoring the effectiveness of work carried out. Where appropriate, monitoring activities include counting bird populations, annual butterfly transects and assessing plant populations. The policy includes endeavouring to ensure safe access to reserves for quiet enjoyment and educational use in accordance with the Trust’s Reserves Access Policy which presumes in favour of open access where practicable. Further information is contained in Note 31 and in the Trust’s Nature Reserves Guide which is available from the registered office.

35

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

16. FIXED ASSET INVESTMENTS Analysis of investments at 31 March 2021 by fund

Group
Market value at 1 April 2020
Additions/(disposals)
Net investment gains/(losses)
Market value at 31 March 2021
Cost at 31 March 2021
Trust
Market value at 1 April 2020
Additions/(disposals)
Net investment gains/(losses)
Market value at 31 March 2021
Cost at 31 March 2021		 Investment
Property
Subsidiary
companies
Total
£
£
£
325,000
-
1,186,922
-
-
-
-
-
170,451
861,922
Investment
Portfolio
£
-
170,451
325,000
-
1,357,373
1,032,373
-
-
686,807
686,807
Investment
Property
Subsidiary
companies
Total
£
£
£
325,000
100
1,187,022
-
-
-
-
-
170,451
Investment
Portfolio
£
861,922
-
170,451
325,000
100
1,357,473
1,032,373
-
100
686,907
686,807

During 2016, the Trust was bequeathed Lunds farm under the will of Helga Frankland. The farm, which at that time was independently valued at £325,000 on the basis that there is a sitting tenant, is not considered to be suitable for use as a nature reserve. It has therefore been treated as an investment property which the Trust expects to hold until it is no longer tenanted.

Subsidiary Companies

The charity held the following subsidiary company, registered in the England and Wales as company no. 01951495, which was dormant in the period.

01951495, which was dormant in the period.
Main Trading Activity % share held
Wildlife Cumbria Limited Dormant 100

The surplus of the unconsolidated parent is the same as the consolidated entity, being £1,264,207.

Analysis of investment portfolio at 31 March 2021 by category of holding

Unit trusts
Total listed investments
Unlisted investments		 Group
Trust
Group
Trust
2021
2021
2020
2020
£
£
£
£
1,032,373
1,032,373
861,922
861,922
1,032,373
1,032,373
861,922
861,922
-
100
-
100
1,032,373
1,032,473
861,922
862,022

The market values of the Trust's investments at 31 March 2021 were as follows:

Barings Targeted Return Fund - Accumulation Units
COIF Investment Fund - Accumulation Units
Barings Targeted Return Fund - Income Units		 % of total
£
holding
791,145
76.6
70,190
6.8
171,038
16.6
1,032,373
100.0

36

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

17. DEBTORS

Trade debtors
Grants receivable
Prepayments and accrued income
Other debtors		 Group
Trust
Group
Trust
2021
2021
2020
2020
£
£
£
£
13,614
13,614
13,784
13,784
778,636
778,636
310,877
310,877
545,280
545,280
288,143
288,143
150
150
666
666
1,337,680
1,337,680
613,470
613,470

No provision for bad debts was deemed necessary at 31 March 2021.

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income
Deferred income included above (Group and Trust)		 Group
Trust
Group
Trust
2021
2021
2020
2020
£
£
£
£
177,997
177,997
36,559
36,559
34,021
34,021
97
97
-
100
-
100
252,753
252,753
56,070
56,070
464,771
464,871
92,726
92,826
At 1 April Released in
Received
At 31 March
2020
in the Year
in the Year
2021
3,558
(3,558)
2,692
2,692

Deferred income represents grants received prior to commencement of the related activities and payments made in advance for entries in the Trust's lottery.

19. FINANCIAL INSTRUMENTS

Investments
Investments (term deposits)
Cash at bank and in hand
Trade debtors
Other receivables
Financial liabilities measured at amortised cost:
Trade creditors
Other creditors
Financial assets that are debt instruments
measured at amortised cost:
Financial assets at fair value through the
Statement of Financial Activities:		 Group
Trust
Group
Trust
2021
2021
2020
2020
£
£
£
£
1,032,373
1,032,473
861,922
862,022
435,276
435,276
435,276
435,276
1,273,670
1,273,670
501,723
501,723
13,614
13,614
13,784
13,784
778,786
778,786
311,543
311,543
2,501,346
2,501,346
1,262,326
1,262,326
177,997
177,997
36,559
36,559
34,021
34,121
97
197
212,018
212,118
36,656
36,756

The fair value of the financial assets at the balance sheet date has been based on the market price.

37

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

20. TRADING SUBSIDIARY - WILDLIFE CUMBRIA LIMITED

The Trust has one wholly-owned trading subsidiary which is incorporated in England and Wales as company registration no. 01951495.

Balance Sheet
Debtors
Total current assets
Net Assets
Capital and Reserves		 2021
2020
£
£
100
100
100
100
100
100
100
100

21. DESIGNATED FUNDS

The unrestricted income funds of the Trust include the following designated funds which have been put aside out of unrestricted funds by the Trustees for specific purposes.

Designated for:
Buildings, Vehicles and
Equipment
Creating Wildlife Havens
Standing up for Wildlife
Life membership fund		 At 1 April 2020
At 31 March 2021
Current
assets
Fixed
assets
Designated
this year
Utilised/
realised
Current
assets
Fixed
assets
£
£
£
£
£
£
24,504
879,070
-
20,147
-
883,427
61,189
1,038,475
324,553
-
326,284
1,097,933
22,717
40,000
390,447
17,273
395,891
40,000
7,605
-
3,000
761
-
9,844
116,015
1,957,545
718,000
38,181
722,175
2,031,204

The Trust has a policy of designating part of the legacies received each year to provide for future land purchases and other planned improvements. Additionally, where a donor has not restricted a donation but has indicated a preference for the way in which a legacy or other donation is to be spent, the Trust designates such amounts to specific purposes in accordance with the donor's wishes. The Trust's numerous designated fund balances at the end of the period, as summarised above, are held for the following purposes:

Buildings, Vehicles and Equipment - for the purchase or maintenance of the Trust's buildings and equipment. Funds held as current assets are expected to be expended during the next two years.

Creating Wildlife Havens - for the purchase and management of the Trust's nature reserves. Current assets will be expended as suitable opportunities arise.

Standing up for Wildlife - for the Trust's conservation work other than the purchase and management of the Trust's nature reserves. Expenditure of these funds is planned to take place over the next three years.

Life membership fund - life membership income received each year is added to this fund to be released over ten years.

The value of Fixed Assets shown above includes Heritage Assets and Investments.

38

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

22. RESTRICTED FUNDS

RESTRICTED FUNDS
At 1 April 2020 At 31 March 2021
Current Fixed Current Fixed
Fund name assets assets Income Expenditure assets assets
£ £ £ £ £ £
Creating Wildlife Havens 517,799 3,498,938 296,046 287,262 516,695 3,508,826
Standing Up for Wildlife 420,049 33,768 1,516,224 993,912 949,400 26,729
Living Seas 5,000 - 142,716 80,698 60,983 6,035
Inspiring people 64,196 2,193 135,537 90,126 110,094 1,706
Conservation Legacy Fund 45,927 - - 12,000 33,927 -
Other Funds 2,155 122,872 104,814 113,848 1,486 114,507
Restricted funds total 1,055,126 3,657,771 2,195,337 1,577,846 1,672,585 3,657,803
The Trust's restricted funds have been received from a variety of donors as grants or donations to support the
Trust's work of protecting or enhancing wildlife species and habitats and educating others to do the same.
Except where anonymity has been requested, the principal donors in this financial period are listed in note
32 and the activities to which the grants are restricted are as listed in the table above. Where funds have
been received in advance of expenditure, it is expected that they will be expended within one year of receipt
and they are therefore held by the Trust in readily accessible interest-bearing accounts. Where funds have
been applied to purchase land or equipment, the value at the balance sheet date is shown in the column
headed Fixed Assets.
Further details of individual funds are available from the Trust's registered office.
PERMANENT ENDOWMENT FUNDS
Incoming Transfers to
At 1 April endow- Investment Gain/(Loss)
general
 At 31 March
2020 ments Income on reval'n funds 2021
£ £ £ £ £ £
Mary Miles: any sums over
£5,000 for general Trust use 5,000 - 2 - (2) 5,000
Kirby Fund: income for
general Trust use 60,861 - 2,308 9,330 (2,308) 70,191
65,861 - 2,310 9,330 (2,310) 75,191

23. PERMANENT ENDOWMENT FUNDS

Transfers are made to unrestricted funds from endowment funds where the income earned on the fund is not subject to any restrictions.

24. TRANSFERS BETWEEN FUNDS

Transfers have been made from unrestricted funds to designated funds to safeguard funds for specific purposes identified by the Trustees. In 2020/21 the Trustees transferred £718,000 from unrestricted funds to designated funds for future expenditure.

Transfers are made to unrestricted funds from endowment funds where the income earned on the fund is not subject to any restrictions.

39

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

25. ANALYSIS OF NET ASSETS BY FUNDS

At 31 March 2021 (Group)

Fixed Assets
Fixed Asset Investments
Current Assets
Current Liabilities
At 31 March 2020 (Group)
Fixed Assets
Fixed Asset Investments
Current Assets
Current Liabilities		 Unrestricted
funds
Designated
Funds
Restricted
funds
Endowment
funds
Total funds
£
£
£
£
£
257,734
1,161,330
3,657,803
-
5,076,867
417,308
869,874
-
70,191
1,357,373
647,554
722,175
1,672,585
5,000
3,047,314
(464,771)
-
-
-
(464,771)
857,825
2,753,379
5,330,388
75,191
9,016,783
Unrestricted
funds
Designated
Funds
Restricted
funds
Endowment
funds
Total funds
£
£
£
£
£
267,975
1,181,477
3,657,771
-
5,107,223
349,993
776,068
-
60,861
1,186,922
375,016
116,015
1,055,126
5,000
1,551,157
(92,726)
-
-
-
(92,726)
900,258
2,073,560
4,712,897
65,861
7,752,576

The net assets stated above are also those of the Trust. However, unrestricted funds of the Trust include an additional £100 of investments and £100 of current liabilities due to its investment in its dormant subsidiary.

26. CAPITAL COMMITMENTS

No amounts were contracted at the end of either year which are not provided in the financial statements.

27. LOCAL AND SPECIAL INTEREST GROUPS

The Trust has eight local support groups based across Cumbria which organise events and raise money for the Trust. The Trust also has special interest groups comprised of individuals interested in a particular aspect of nature conservation. Due to the Coronavirus pandemic, very few events took place in the year. Those groups which raised or spent funds using separate bank accounts during 2020/21 have prepared accounts to 31 March 2021. These figures are summarised below and have been incorporated into the Trust’s financial statements within cash at bank and in hand.

Local support groups
Special interest groups		 At 1 April
2020
Income
Expenditure
At 31 March
2021
£
£
£
£
2,703
20
360
2,363
5,301
875
133
6,043
8,004
895
493
8,406

28. COMPANY LIMITED BY GUARANTEE

The Trust is limited by guarantee and does not have a share capital. The liability of each member is limited to a maximum of £1.

29. POST BALANCE SHEET EVENT

After the year end, the charity has learnt that the tenant of Lunds Farm passed away in early October 2021. At the time of the approval of the financial statements, their estate has yet to be finalised.

40

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

30. ENVIRONMENTAL BODY

The Trust has been approved as an Environmental Body (reg. no. 093225) for the purpose of handling and distributing funds made available by landfill operators under current legislation. Under that legislation a government agency, 'ENTRUST', oversees the operations of Environmental Bodies and applies a levy to fund its own operations. The movement of funds (including opening balances) is included in the SOFA and Consolidated Balance Sheet. Details of the income and expenditure on a cash basis for the year, before consolidation, are summarised below:

Income & Expenditure Account

Income & Expenditure Account
Transfers in from other Environmental Bodies
Grants distributed
Surplus/(deficit) of income over expenditure
Balance Sheet
Bank balances
Debtors
Current assets
Creditors due within one year
Net assets
Represented by:
Accumulated revenue surplus brought forward
Surplus/(deficit) for the year
Accumulated revenue surplus carried forward		 2021
2020
£
£
-
55,500
20,002
44,000
(20,002)
11,500
2021
2020
£
£
498
20,500
-
-
498
20,500
-
-
498
20,500
20,500
9,000
(20,002)
11,500
498
20,500

Movement in funds held for expenditure on projects by Cumbria Wildlife Trust during the Year

Income received from other environmental bodies
Total income available
Expenditure on projects by Cumbria Wildlife Trust
Funds held at 31 March
Projects funded by landfill operators during the Year
Funder/Project
CWMET: Drumburgh Ospreys
Income available from previous years		 CWMET
Total
£
£
-
-
20,500
20,500
20,500
20,500
(20,002)
(20,002)
498
498
Entrust No.
Expended
Allocated
£
£
093225.088
20,002
-
20,002
-

41

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

31. NATURE RESERVES AT 31 MARCH 2021

Cumbria Wildlife Trust started managing nature reserves as early as 1963 and has continued acquiring reserves ever since. It currently manages 46 reserves extending to 3,289 hectares. 1,251 hectares are owned by the Trust whilst 2,038 hectares are held under lease, licence or management agreement. The reserves are distributed across the county and cover most Cumbrian habitats including raised mires, limestone pavements, coastal sites, woodlands, grasslands and wetlands. The following table includes details of all of the Trust's nature reserves.

Reserve name **Owned (O) ** Purchase (P) Date of Area Grid Main Habitat
Leased (L) or Gift (G) Acquisition **(Hectares) ** Reference
Allan Willson O P 1987 1.8 NY457526 Woodland
Argill Woods O P 1984/1986 7.4 NY844141 Woodland
Augill Pasture L 1998/2000 2.8 NY817147 Grassland
Barkbooth Lot O/L G/P 1975/2004/07/08/ 27.3 SD415906 Grassland/Woodland
Boathouse Field O G 1979 0.7 NY253231 Carr
Bowber Head Farm O G 2020 36.0 NY736033 Grassland
Bowness-On-Solway O G 1966/1976 7.3 NY207618 Scrub/Open Water
Brown Robin O G 1977 26.9 SD415790 Woodland
Burns Beck Moss O P 1995 15.1 SD595880 Mire
Christcliff O G 1984 0.4 NY185007 Mire
Clawthorpe O G 1996 2.0 SD535781 Grassland
Clints Quarry O P 1984 9.2 NY009124 Quarry
Craggy Wood O P 2018 14.7 SD474985 Woodland
Dorothy Farrers O P/G 1969/95/2000 4.6 SD480983 Woodland
Drumburgh Moss O P 1981/2013 132.5 NY256590 Mire
Dubbs Moss O P 1972 7.4 NY104288 Grassland
Enid Maples O G 1970 2.8 SD526897 Woodland
Eskmeals L 1971 67.0 SD087944 Sand Dune
Eycott Hill O P 2013 216.0 NY387295 Upland Mosaic
Foulshaw Moss O P 1998/2000/2017 360.0 SD460820 Mire
Foulney Island L 1974 145.7 SD243655 Shingle Island
Gosling Sike Farm O G 2009 to 2012 14.6 NY416039 Grassland/Woodland
Grubbins Wood L 1975 9.3 SD445780 Woodland
Hale Moss O P 1972 2.9 SD510776 Fen
Hervey O/L P 1970 100.0 SD442871 Grassland/Pavement
Howe Ridding Wood L 1998 28.8 SD435876 Woodland
Humphrey Head L 1992 23.0 SD391738 Cliff/Grassland
Hutton Roof O P/G 1977/1992 99.0 SD550780 Grassland/Pavement
Ivy Crag Wood O G 1969 1.6 NY245265 Woodland
Juniper Scar O G 1986 0.4 NY475012 Scrub
Latterbarrow O P 1986 4.0 SD440828 Grassland
Lowick Common O G 2017 106.0 SD290846 Grassland
Meathop Moss O/L P 1963/1998/2000 82.7 SD445820 Mire
Newton Reigny O G 1969 0.3 NY478312 Fen
Next Ness O P 1991 2.0 SD302787 Woodland
Nichols Moss O P 2000 7.1 SD430830 Mire
Orton Moss O/L G 1979/1997/2009 18.1 NY338543 Woodland
Park Wood L 1998 14.7 SD567781 Woodland/Grassland
Rockliffe Marsh L 1969 1,120.0 NY340637 Saltmarsh
Smardale Gill O P 1978/1991/2016 49.3 NY703054 Woodland/Grassland
South Walney L 1963 487.0 SD215620 Shingle
Tarn Sike O P 1981 2.6 NY665076 Grassland/Scrub
Thacka Beck L 2011 5.9 NY507307 Woodland
Waitby Greenriggs O P 1981 4.4 NY757086 Grassland
Willow Pond O G 1982 0.2 NY346002 Pond
Wreay Woods L 1990 17.7 NY444500 Woodland

42

CUMBRIA WILDLIFE TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

32. SUPPORTERS OF CUMBRIA WILDLIFE TRUST

The many achievements in the year would not have been possible without generous and wide-ranging financial assistance from the Trust’s supporters. Thanks go to individual members, corporate members, donors, grantgiving organisations and legators. Some of those supporters are listed below.

Contributors of grants, donations, etc. during the year:

Allerdale Borough Council Highways England Alpinetrek (Arc’teryx Equipment) inov-8 British Birds Charitable Trust John Ellerman Foundation Crown Estates Lake District National Park Authority Cumbria Community Foundation Maritime and Fisheries Fund Defra National Lottery Heritage Fund Eden District Council Natural England Environment Agency Park Cliffe Ltd Esmée Fairbairn Foundation People’s Postcode Lottery Fern+Fell South Lakeland District Council Furness Building Society United Utilities Grasmere Gingerbread Vine House Farm Groundwork UK (Tesco bags of help) Yorkshire Dales Millennium Trust Heightec Yorkshire Dales National Park Authority

Donations were also received from many Cumbria Wildlife Trust members and other individuals towards a large number of projects, nature reserves and special appeals.

Legators:

Legacies were received from the wills of the following individuals whose generous gifts will support wildlife and wild places in Cumbria. The Trust would like to gratefully thank and acknowledge them and their families:

Kathleen Atkinson Freda Beachell Jeffrey Bond
Edith Cook Barbara Crossley Bunty Ellison
Betty Green Christine Hill Lois Howard
Dorothy Jex Mark Johnson Rosemary Maine
Graham Matthews Bridget Morley-Pearce Marjorie Perks
Elaine Stuttard Arthur Todhunter Mary White
Joan Wynne
Corporate members during the year:
Platinum members inov-8
Gold members Lyon Equipment, United Utilities
Silver members Avanti Gas, Cyclife UK Ltd, H&H Reeds Printers Ltd, WCF Ltd
Bronze members Arnison Heelis Solicitors, Cedar Manor Hotel, Center Parcs, The Cumbria
Grand Hotel, Holiday Cottages.co.uk, Lafarge Tarmac, Russell Armer, Storrs
Hall Hotel, University of Cumbria
Standard members Aggregate Industries, AlpKit, Cumbria Property Services, Daffodil Hotel, English
Lakes Ice Cream, Fortis Remote Technology, Good Life Cottage Company,
Lakeland Cottage Company, Lakeland Hideaways, Lakeland Limited,
Lakelovers, Pure Leisure Group, TheLakeDistrict.org, Wildroof Landscapes
Complimentary members Aerial Artwork, Cumbria Waste Management, Furness Building Society, Radiata
Trees, 2 Sisters Food Group, Vine House Farm

43