Herefordshire Wildlife Trust Report ofthe Trustees and Financialstatements for the year ended 31 March 2025 for The Herefordshire Wildlife Trust Limited Registgrod Company Number: 743899 IErbgland ènd Wales) Ragist8red Ch8lrty Number: 220173 Report of the Trustees Statement ol the Trustee's Responsibilities 22 Report of the Independent Auditors 23-26 Consolidated Statement ol Financial Activities 27 Consolidated Balance Sheet 28 Balance Sheet 29 Consolidated Cash Flow Statement 30 Not8S to the Consolidated Cash Flow Statement 31 Notes to the Financial Statements 32-50 The Trustees who are also the directors of th8 charity forihe purposes of th8 Companies Act 2006 present their report with the financial 8taterrents of the charity for the ye8r ended 31st March 2025. The Trustee5 have 8dopted thtr provisions of Accounting ènd Reporting by Charities.. Statement of Recornmended Practic& applicable to charities prepsring their 4cGounts In accordance with the Financial Reporting Standard 8pplicabl8 in th8 UK and the Republic of Ireland IFRS 1021 leffeGtive 1 January 20191. A WllderHereford$hyr8- More Nature Everywhtro. Two ye8rs into our 2023-2026 strategy, A Wilder H8r&fordshire- Mofe Natura Everywhere, we h8ve mede signific8nt progress on the k8y shifts our strategy has prioritised. n8rnely enabling.. Nature recovery at SC8lethrough deeper collaborations. advice and servic&s A greater depth and diversity ot people to take action and carnpaign boldly Growth and diversific8tion in our income through providing seNices, advice and experiences Nature Recov•ry To achieve natur8 recovery at scale. we continue working with a wide fange of partners 8cross the county, across our borders into bothW&le5 and thewider Severn and Wye Catchment. Thisyearwe have espeGI8IIy focused efforts on the dev8lopfnent phase of the Landscape Re¢ovÉry prDgramrne, Wyssc8pes. which focuses on recov&ring our river corridors, as w8118s our Wye Ad8Pt to Climat8 Ch8nge Progrsmme in partnership with R8dnorshireWildliteTrustandWye National Lgndscape, and 8Kpansion ofourTreescap8S workwith GIouc88ter8hire and Woicestérshirewf's. Togeth8rthese schemes iot81 over 15.000 heGtar8s of land tll8nag8d for nature. a tnilestone we can be proud of on th8 way to our goal of 30 percÈnt of 18nd protect8d and managed for naturè by 2030, which equ3tes to roughly 50.000 hect3res of 18nd In HerÉfordshire. We 81so y8w continued work on our own nature res8rves. Highlights include the opening of Oak Trèe Farm. our 18test addition to the Lugg WetL8nds, further Investment in Bodenhgm Lake and Lugg Meadows, and ol course the st8rt of work ai Bartonsh8rn Nature Rèserve, our fl8gship cornmunity r888rv8 in the h88rt of Hereford City. N8tur& Acilon As wèll a8 being collaborgtivÈ, w8 are working hard on being more enabling as we lead action tor nature 8 covery across our county. Th￿S has seen us establish nature and climate action networks to support our comrnunities to grow their power and capacity for collective action. Highlights include a tolourtul processionthfough H&rford Cityto build local supportforincre8sing8reas of w&tlandwildlife habit8twthin the city. as well as days of action io sUPPOrt th8 recovery of key river corridors through mon1toring and natural flood rn8nagetnent action. W8tch thi5 5pBce for mor8. Inspiring learning and connection to nature also continued with a wonderful range of talks and exp8ritnc88, accessible irnprovements at Qu88nswood gnd a brilli8nt InternationalWomen'8 Day Lecture by renuwned sci8ntisi and film mgker, Lizzie Daly. Sustainingour Future By working In both a collaborative and enabling m2nn8r. membership of theTru8t 18 at 8n 811-time high lover 8,000 atthe tirne of writing.) and the nutnbBrof people in the countystandingtogetherfor the naturalwoTtd Is rising rapidly. This places the Trust In 3 good position 8s we continue to respond to the all Ihe local and national chgllenges nature laces as well as growing our retail. cgfe and $8rvices io furth8r support our growth. Lastly, we've sean 8 huge response to our Nature Recovery Fund app&81, which aims to raise a million pounds over three ye8rs to 5UPPOrt natur8's recovery. Six rnonths In, as the ye8r closed. we We￿ at over £200,0001 As we continue to tackltr the twin crise9 of nature Ènd climate. our rnernb8rs, $upport8rs, funders 8nd partners are the heart of making ourvision a reality and as ever. our huge thanks! Alison McLoan 08E- Chair of Trust•88 Jarnie Aud$ley- Chlof Executiva Ottleer E0rlb￿YeAr￿Ddedllm￿[0LL2 OurVis1011 More Ngture Everywhere Our Ml8slon To laad local action for nature's recovery Goals Nature In Recovery Taklng Aciion for N81ur• Sustalnlngour Future Objactivè$ N8nÈg8 our nature reserves to ensure th8y ar8 rich In wildlife Etrategically focus our landholdin Work in partnership to create more, bigger. wilder connected habitats Cannect People to Nature Embed effective govprnance and business pLannin8 Support local groups and busin8ssesto tak8 actiun for nature Continue to grow and diversify funding streams to grow unrestricted incorre. whilst also coniinuingto grow rÉstricted funding D8V8lop an Inclusiv& workplace for all staff and voluntsèrs Dernonstraie how restoring naturé can deliver multiple environmental b8nefits, and help tackle the climate and nature emerg8nc188 Prornote sustBinable land US8 and challengÈ harmful practices and infrasiruciure that thr&at8n nature's recov8ry Develop a bolder catnpaigningvoice and deliver proactiv& Édvoc8Cy Reduce our csrbon footprint and ernbed sustainability practices Publlc Benefit The Trustees h8ve given consideration to the Charity Commission published guidelines on Public Benefit as required under the Charities Act and are satisfied that our work Clearly provides multiple publi benefits in line with our charitab18 obj8CtIV8S. Thase benefits Includ8'. The Trust's nBture reserves are well used by the public and most hava way-marked routas for people to use. At rnost sites we also provida Information ènd int&rpret8tion for visitors. Th8 Trust's natura res8rw8s and activities are available to all, and provisions fDr easy aoces5 are made wherever practicable. Information on our w8bsite Is regularly r8viewÉd and updated. We sre increasingly abla to Influenc8 other landowners to manage land for the benefit of wildlife and cotntnunities through our consultancy work. projects such as Severn TreoSC8P8S 8nd Pertnerships such gs With Marks & Spencer. Much of our work is Llelivered in conjunction with volunteers. These 8ctivitl8s ale wéll r&cognised io improve the health and well-b8ing of volunteers in many ways. Our people 8nttwildlif8 outr8ach programm8s aré airned at totntnunlties, childr&n's tentrÈs, adult groups 8nd th8 wider publit. Sorne of our futTrding enables us to offer free activities socially deprived communltiÈs. Contact with the natural world and the appreciation of wildlife and wild places brings great pleasure to mgny people and is well recognised as contributingtOW8rds health and w811-being. We gather conservation data and provide expert 8dvice to Local Authorit188 and others to ensure th8t planning decision5 are made on a rational basis aftertakingfull aGGount of the public benefit Lastly, thé Trust can exert influence at a local lev81 ihrough its member5 and Dur membership of groups suth as the Local N8ture Partnprship, r8gionally in partnership with neighbokjring Wildlife Trusts and nationally through membership of tha Royal Society of Wildlife Tru5tS. cthioypmenti rformanco Monthly Highlights Apiil: The Woodland Cafe opened at Qu&8n8wood on IS￿ April with the aitn uf $8rving good quality loc8l faod, while makinga profit to re-invest in thÈ Trust'8wider work. The Wyes¢8pes Landscape RecoveryS¢heme Launth&8. Jumo: We partnerwith Ledbury Poetryand H8r&fordshire Libraries on the LedburyYoungP08tsCompetition giving young poets th6 opportunity to explore th8 them8 of RIVERS ihrough poetry. We are awardèd 8 £243,129gr8ritfrorn The National LottaryH8ritage Fund. plus 8 É30,000 grantfromW81sh W8ter, forthé R88toring B8rtonsham Meadow¥ projact. Oak Tree Farm Nature Re8eN8 is officially opened to the public. Staff and volunteers were joined by representatives from NationslHighways, H8r8fordshire Ornithologic81 Club Herefordshire Corrmunity Foundation, who all Contributed to the purchas8 and restoration of the site. The new nature reserve was officially openéd by MP for North Herefordshir8 Elli8 Chowns who cutthe ribbvn. A Day ol Action for Hereford8hire's Rivers.. On 7th September 2D24, community group5 end aGtIDn t8kers came togetherto present thr&8 8vents across the county. ctob The first year of thè Wye Adapt to Clim8te Change prtsj8tt closes with Officers having provided advice on over 8.000 heGtar&s of land with Land managers, farméfs and 18ndowners considering how their Isnd holdings can be made rnore resilieni to clirn8te ch8nge. The projectwill run for a further two years. A step forward for the Bartonshgrn Meadows project". sheep arrive- reiurning graang ￿Vast0¢k to parts of Ihe rnegdow 588sonally is a key pgrt ofthè r8stor8tion management. Fathef Christmas returns to the urchard grotto along with Christmas natur8 crafts, Stor￿eLling 8nd an elf tr3ilthrough th& woodland. We start a project with Hereford College of Art ytudents to creaie engaging content inspired by the Yazor Brook In H8r8ford. Habit8t improvements at Bodenham L8k&, funded through National Highways, Network for Nature progr8rnrne 8nd begun in 2022. conclude. Key successes Include". Creating an addiiional one hectare of reedbed and marginal aquatic p18ns on rhe lake shor8- Restorin4Nvo hectares of floodpltin m88dow grassland, the riverside meadows besidethe Ghur¢h and within th& wildlife refuge area., Creation of fivÈ'hibÈrnÈ¢ula' for toads to shelter over winter., Improvingthe acce59ibility of the site. We celebrate Internation81 Women's Day with keynote speaker Lizzie D8ly and a panel, lanrj 8udi8nce,l of incredible women. Nature Recovery ManHging our nature reserves to ensure ihey are rich in wildlifa and $trat8gl¢ally focus our landholdin We continue io manage our porttolio of nature r8S8rv&s dÉ8Plt& È numb&r of thalltrnges this year. We are currently reviewing our portfolio in ierrns of their ecology and 1nfrasiructure. We have updated 8lte Specific manag8m8nt plans for allour nature rtrsÈrves. An pquiprnent review h35 a150 been condycte(I thisyear. old or damaged machinery has bean sold, and wa ar8 in the proc8ss of approaching funders for support with purchasing new equipment. In 8ddition, we h8ve been working on 8ev8ral project8 on our n8tur& r8S8Nes,' th8 r&&dbed projÈct at Bodenham L8ké,the species recovery project on the Lugg Meadows habit8trestor8tion at 8enonsham Naadows. Th& Bodenh8m R6•dbèd Project, funded by the National Highways Nptwork for N8ture progr8mrne wss completed this year. Two heGtare$ of floDdpl8in meadow have been restored and an additional hectare of reedbeds has been created around the Ea8t8rn 8dg8 of the lake. Lak8sirJe tr88É have bttrn thinnÈd 8nd coppiced allowing more ngtur81 light intothe lakeedge h8bit8ts. Site infr8Structure has also bean improved with a repsired 8ccess track and sign8g&. The Lugg Meadows Spaclès R•covèry Prolaet. funded by Natur81 England, etsntinues to run until Spptember 2025. This project Is improvingthe flooLlpl8in meadow habitst for the benefir of ttvo important plant SP&C18s in particular.. narrDW-leaved water-dropwort and mouset8il. We are p8rtnering with Herefordshire Neadows, Plantlife and the Floodplain Maadows Partnèrship in this projèct and have 50 far.. Und8rtakèn grasslalld surveys, LIDAR end hydrologic815urveys Collected seeds for propag3tion Mapped rnodelled drainage channels Installed dip well data loggers to monitorgroundwater levels Undert8ken detailed soil analysis Tr8in8d volunteers in botanical identificatio Planted ntrrow leaved water dropwort plugs in trigl Brees 8crossthe mepdDw8 Acquired consents for the new bridge ecross the Lugg Rhea Bought the materials for th8 bridg8 which will be installed in July 2025 Installed supplemeatary fencing Our Re5tovinK B4rtonsham Maadows Project begun thi5 year thanks to funding awarded in July by lh& Narional Lottery Heritage Fund Ènd W818h Water. The 8im of the project Is to restore the IQO-acre meadow from intensively farmed arabl& land to 8 species-rich nature resepie. W8 have begun to rn8ngge the meadows by beginning an annual programme of cutting 8n(I removingthtr veg8iation as well as creating a community orchard, replanting hédgerows, Installing fencingand bringing back livastock grazing. We pl? to rèstor& part118 hal of the site backto its former glory as a functional floodplain rn&8dow,- the remaining 17 ha are to be managed as'managed regeneration. with very low intensity grazing to produce a mosaic of gr3ssLand and scrub. Working in partnershlp io cieate morg. bigger. wildèr ¢onnected habitatB Projects are belng ￿&￿Vered In a more joined up w8y with oth&r conservation organisatians which has 18d to the developrrent of some collaborativ8 proieet applications. We continu6 to work in partnership with the local authority, sutveying and developing msnagement plans fDr 1oc8lwildlife sites. Thewya Ad8PtioCllmate ChangelWACCI Project is funded byihe National LotteryClim8teAetion Fund. The prDj8Gt 8tart8d In Sepiember 2023 3nd runs until August 2026. We are working in partnership with R8dnorshirè WiltJlif8 Trust and the Wye Valley Natiunal Landscape to support Land tnÈnag8rs and cornmunitiÈs to consid8r climate resilience in their local ar8as. The WACC team are supporting land managers to idèntify natur8-ba8ed solution opportunities Including tree planting. leaky darn installation, pond creation or meadow ￿$toratiOn. The team supports them to Idenrify funding opportunities to implementthese intètV8ntion8. This yeartheieam h8ve priwided advice to 3618nd rn8naggr5 covering over 6,536 hectares of land across the project area. Through evenrs such as farm w8lk8 and soil sampling the project tims to upskill land rn8nagers and cornmunity members io carry out SUN8ying. The project team held 5 Gommunity-based nature action network av8nts th18y8arwhich h8ve been a gr&atsuccess. Working with local communities the project learn are supporting tham to take action in 8 vBiiety of ways from carrying out Surveys to running¢lirnate conv8rsatlOn 8V8nts to incre8se 8warenèss. We were successful with our collaborative partnership application for 8 Landscape Re¢overy Project known as 'Wytscap6s'. We are delivering the Land M2nagement Plgn element of the proièct in DLiaboT8tion with our partners. The team has b8&n 8ngaÉing with over 46 lÈndowners covering In excess of 4,500ha of land alongthe WyelLugg corridor to develop plans to irnprov8 nature recovery at scale. The Sèvain Tr808capes Project gim5 to expand, connect. protect gnd improv& a 60-mile corridor of enh8nced tree cover from the Lower Wye to the Wyre Fortst. It assists landowners to access funding for tree pl8nting, and now, h8ving 88cur8d additionalfundingfrom the Environrnent Agency, w9 ran also fund tree planting directly, throughour Herefordshire. The project builds upon existing woodl8nds tD contribute to n8iure's fecovery and show that woodland cregtion and conntctivity can go hand in h8nd with d81iv&ring productive 8griculturÈl land, supporting innovaiive Bpproaches to forestry and th8 green economy. W8 always ansure li is'ihe riEht tree in the right p18ce' to enable this. Th8 proitct came to an end in M8rch 2025 but further fundingto incre3se its longevity has now been sourced, allowing th8 team to continue their fantastic work until March 2028. The team will focus thi8 ye8r on creating wood13nds, Id8ntifyin¥ veteran trees 8nd survaying traditional orchsrds for key priority species such as the noble chaff&r bèetle and lesser spotted woodp8ck8r. Dernon5trate how restoring nature ¢an dglivermultiple beneflts, and help ta¢klethe climate and nature 8mgrggncig9 We hÈve been finali5ing our 30-year Biodiversity Net Gain monitoring 8nd m8nagem8nt pL8n for The Goggin and hopa 10 sign 8 $106 agr88ment with the locÈl authorityforthis site during 2025. allowing us to lease money back into the trust forthe conservation work that We undertake. All of our landscap8 scal& projects alrn to deliver multiple benefit5 8tSCgle. Our primaryfocuythis year has b&&n soil managemant and soil heolth, the 9pplic8tion of nature-based solutions and natural flood management and the improvement of habitat connectivity. We now have evidence that dernonstratesthat restoring nature delivers rnultiple benefit8 from mitigating climate change, reducing the impacts of floods, improving wildlife diversity 3nd abundance. We will continue to develop projects that delivèr natu recovery at SC818 through coll8borative partnership applicatiOnS. Promote sustainable Land use and challenge haimful praetlees and infrastructure that thre8tens natura's recovary Thi5 year we have been represented on the local authority's Local Natura R8¢ovary Strategy ILNRSI steering b08rd. We hav& provirled evidenc& and dat2 to support the LNRS proces5. An integrated map and fin81 LNRS report will be available next year and will replace the nature recuvery network mgps. Position statemènt$ on Intensive Poultry Uni15 8n(l Angerobic Digester8 have been d8V81op8d by our technical specialists. and we continue to monitor planning applic8tions for these type5 Of developrnent yo that we can provide tirnely comments into the planning proce8S. We continue to work in collaboration with Farm H•refordshlr•, for èxampte working together to produce the 'Proieci Vfliir river leaflet for larniers. Likewise. we work closely Wlih The Wildlife Trusts agricultural neiwtrrk on Issues such as Intensive Poultry Units and Anaerobic Digesters. both of which we robustly address through the planning process. In collaboration with Glouc8st8rshlre Wlldlif8 Trust and WortÈstÈrshirÈ Wildlife Trust, we have been building our F8rmÈng with Natur6 Consultancy which aims io promot8 SUStainabl8 fartning practices, support farmèrs with Bpplic2tions to join environrnent21 ychemes and deliver habitat surveys. We havtr been surprised 81 the level of Interest in habitat 8ufiley8 8nd BNG from landownèrs. Agricultural land rn4kes up over 75% of Her6fordshireand the way this land is man8g8d h8s a huge impact on the overall biodiversity and the health of our Ioe81 environment. How 18nd is fÈrrned can Blso 8ffect wildlife connectlvlty 8cros8 th8 land8cap8. biodiv&rsity, soil hèalth, water Quality, carbon sequestration nd water infiliration. Forrhis raason, 8ngagingwith farm8rsand landowners has becotne a key component of the Trust's broader conservation 8trat88y. Nature Recovory: Case Studies Wyo Adapt to Climata Change Projèct As part of our WACC proiect we worked with St Mary's School In Credenhill to restore rheii school pond. The school pond had b88n neglected and b8come 8eriou51y overgrown. making it difficult for wildlife to thrive and limiting lis use for le*rning. We st8rted byclearingovergrown plants and removing excesswe reeds and other pl2nts that were blocking light Bnd making the w8ter stagnant. This was tough work as the root bed ol the plants had bean left for so longtheyw8r8 15cm thick in placts. Debris yu¢h as fallen 18aves. br8nGh&s, and other rotting matter were then cleared from the pond and surrounding area. Thè n8xt step w8S to trim ov8rhangingbranches to let In ore sunlight, and Invasive ivywas ramoved to prevent It from chokingtrees anrj orher plBnts. Established shrubs an(1 treesw8r8 a180 Cut b8ck. Ofeourse. as this workwas undertaken, we wtsrk8d carefullyto avoid disturbing any cre8tures living in and 8round the pond. L85tly, WÈ made ihe 8re8 58fe, paths were cleared. and any hazards werè aorted to make the space more accessibl& for pupils. WhiL5t undértaking works we found different speciès of snails. water louse, beetles 3nd spidèrs while cle8ringthe pond. The rnost exciting discovery was spotting both rn8le and f8male Smooih Newts Living in the wster! This Is a fanr8StIC sign thatthe pond is stillan Important h8bit8tforwildlife, 8nd wewantto make sur8 It stays that way. To provide a Safe place for 8rnphibi4ns like nebfts, frogs, and toads to shelter, wè built a hibern8culum near the pond. This was made by layering logs, bricks, and Soil to cre8te hidd8n spaces where animals can hibern8te safely. Nextstepsto Sustain the work intlude r8gularmaintenance to prevent ovèrgrowth, addingrnor8 native and oxygenating pond plants to support even rrore wiidlifÈ, Involving studonts in pond care and nature project and hibernaculum to See which species use it. WEIF Prolèei at Westhopq As PBrt of our Water Environment Improvement Fund grant from the EA we have been working with a landowner In Wesihope. This *r&8 is & stratewcally Important Iocgtion for Natural Flood Management INFMI interventlons to reduce floo¢J risk downstream and improve water quÈlity. 0.3h8 of speci8s-poor grassland was $818Cted io be restored to spe¢ies-rich p8sture. Species rich grasslands heve a gr88ter mix of h8rb ancl gr855 sp8cies with deeper 8nd more complexrooting sy8tem5than Gonv8ntionalsingle spéci88 gra8slands. Thi5 irnprov8s soil structure and health whiGh Incr888es the 8bilityof th&grassl8nd to intefC8Pt and absorb surfac8 waier and rèduces nuirient enrichmeni ol the brook by absorbing nutrients. The landowner fl8il topped and harrowed the parc81, then removed th& cuttings from the sité. Just before sowing. they alsts used a ri(le on mower on the lowest setting to gcarify the ground enough beftrrÉ seed strewing. The fiplds will be m8nagèd via gr8zinE over wint&r months to rètnov8 any winier growth and the shut up from 14arch untiljuly to allowflowers to develop and $81 seed. In August tha parcelwith be grazèd heavily to reduce material which has a similar function tD a hay cut In a traditional hay meadow system. Brief but intense grazing rernoves most of the vég8t8tion frown the SLJmmer months. therÈfor8 r8movingthe excess nutrients contained in the vegetation which dècreases soil fertility 8nd typically leads to Intre8sed bot8nic81 (liversity OV8rtime. HÈrefordshire Wildlif8 Trust sraff visited th8 Slte in February 2025 to 855ess progress, 8nd rhe initial signs were very positive. Three different P05iiive indicator species of acid 8nd neuiral grassLand w&re recorded,. harebelllCamp&nul8 rotundifolièl pignut Iconopodium rngju51 and ox-8ye daisy ILeucsnthemum vuig8rel. Species-rich gra8s1and is now ) SC8rce habitat in the British 18ndscape, with 97% of this habitat lost in the UK since 1945. This grasslan(I restoration 18 thereforè È signific8nt consepiation affort for this scarce habitat and aysociatèd sp8cie8. Savarn Tr08s¢ap•$ Prol•et la partnership between Herefordshire. Gloucestarshire and Worc8St8rshire Wildlif8 Trustsl Tr8Èscapes paid for and ran an exciting project in th& hills above Dorstone with a 1.75 ha scheme wth different tfeditional plsniing typ8s. 0.52h8 of n8tlV8 broadlÈ8ved woodland link up existingold hedgerows and woodland. 0.2ha Willow coppice will be used for cattle browse,. 0.6ha Hazel and Sweet Chestnut coppice will be used forbrowse. hurdles and fencing posts. 0.37ha Natural Regeneration areas will cre8te n&wwoodland edge habitatswith localtree and shrub DNA.. and 8 125m long and 5mwide natwewoodl8n 8h8ltÉrbÉltwill glow and disperse winds and create a wildlife corridor. Th&8& new Wild￿te habitats will 8lso be importantfor mitigating Glimate change byab30rbingcarbon dioxide and raducingwatpr runoff frorn the land. Nature Action Conn6¢tlng People to Natur• In the past. our 8ngag8m8nt work has focused on younger chil(Iren. through our WildPlay progr8mm&, 8nd our adult support8rs. With a new focus across the Wildlife Trust movement on young p8opl&18g8s 14 to 251, w8 h2V8 been È2gerto$ÈÈ howwe tnight engagethis demographic In ourown strategy. Oui Gènaratlon Naturè progr8mtne began in late surnrrerwhen we began a listening pro1&ct, 8UPPOrted with fundingfrom the Brailsford Truyt. Julia Morron. our Yourh and Wellbeing Managèr, reÈthed out via youth groups and college5 to over 100 people to understand how th8y wanr8d to engage with nature and what support and opportunitie5 theyw8nted frorr us. As a result, we have trialled a number of Initlatlve$ this year, as well as responding to new requ8Sts and approaches. Key succ&sses includ8 th& 8tÈrting up of a Youth Forum for the Trust and two collaborations wlth different groups of 5tudenty at Heretord College of Art. In collaboration with. and funding frorn the Howard Bulm&rCharlt3ble Trust, we also launched the Howard Bulm81 Young Nature Chatnpion Awards in January, 8nd the winners will delivertheir neture engagement projects during 2025126. Our RestoringBartonsham Meadows proi8ct has also beèn kÈyto regchingayounger audiencfrand we now hgve a newyouth Rangers Éroup m88ting regularly ai ￿sarY&, attended by 5tudent5frorn Hereford Sixth Form. The project also host&d a young traine8 for six mDnths, Je5SIC8 Roberts, who has sinc8 b8en successful in getting hef first paid, full-time rol8 in tha constrrvation sector For 25 ye8rs now. our WildPlay programme has b88n sparking adventvre, curiosity, and creativity in children across Herefordyhire. How we pLay d8p8nd8 on the venue we're playing 8t Ibui not on the weatherll. Outdoors. we explore our environmant through mini-beast hunis 8nd pond dipping and get practicalwith dan building and Iightinga firtr. This y8ar w8 havé 8ngagèd with rnany children whose parents or carers h8ve been Idantified to U8 as nèeding special attention, repeated guidance or social anxiety support. Our WildPlay Rangers have felt onfident working with 811 the children at our sessions, scheduling additional statt to join g session where necessary. This ye8r, we h8ve continu&d to tun WildPlay activities for families atthe Ministry of Defenc8, forvi81tors to Eastnor Cast18, the Cider Museurn and HaFnpton Court. Our key sessions h8PP8n within comrnunities, however, and locations this year have included Northolme Community Cèntre in Hereford, De8n'5 Hill P8rk and the Markat Place in Ros5-on-Wye and Ledbury and Leominster libraries. We have also run four five- hour 8dventure clubs supported by Herefordshire Council's HolidayActi¥ities and Food progr8mme IHAn. In ioisl, 1,335 childr8n pariicip8t8d in WildPlay activities this yearl We continue io review 8nd refresh our ènga¢ement wilh our mèmbers. Our Discovery D8y5 for tnembtrrs continutrd this year with a dgy at Birches Farm Nature Reserve in June and a fam11y members day at Queenswood In August. We also refr8sh8d our AGM formgt to become a third Discovery Day with a seritrs of presentations, display3and participstorysÈssion$ across an afternoon 8nd evéning. Theday culrnin£ted in a panel discussion in8pired by the question'How do w& recover n81ure in Herefordshir8?' and the ¢tay involved over 100 participants local branch Efoups. voluntè8rs, mambers 8nd staff. W& hav8 81so reviewed 8nd updatèd th& design of our m8teri81swith a nèw members. bookletgnd improv8d 8ng8gement journeyfor nawjoiners and lor mernbery leaving us. We ran 8 diverse progrsrnrne of event5 8Ct6vltle8 through the yeBr with the twn go8ls of connecting morè p8ople with nature whil2 also rÈising income. Activities ranged from nature phoiographyworkshops and forest bathingtofarm experience days and ChristrnÈswre8th m8king85 wellas wholly nature-focused talks and guided walks. Larger events included hosting a F&8tival of WilLfjlife 8t Queenswood organised by CL8N CIC. a Cplebration of Nature-Friendly Food and Traditional Orchar(15 in colLaboration with the Herefordshire Food Alliance, both at Queenswood, and Liuie Daly's Wild Women.. a keynote speech plus panel discus5i0n On th8 roles of women in conserv*ion celebrating Internation81 Wornen's Day held st the Grsen Dragon Hotel. Support localgroup8 and busine$¥es to take actlon for nature Our Nextdoor Ngture proiect, which 8imed to support local Communities to engage with, ènd take action for, naiure. ended in July. Th8 Wildlife Truyts were gwBrded £5 million funding from The Nation81 Lottery H8rit8ge Fund. 8nd, in Her8fordshir8, this allowe(l us to a two-y8ar proiectwhichfocused on Bromyard. Leominster, Ross-on-wye and South Hereford. Key successes includ8rJ co118boraiion of groups in L80minster and rhe creatiun of a n8wL80minster Loc81 Branch Group and the creation of our NÈtur8Action Network. The Nature Aetion Natwork continues 8nd is a spac& for groups and organisations to coma fo togeiher to lèarn from e8ch othtrr 8nd work together on rr8king positivè changes for n8tur8. During the year li has supported a Day of Action for Rivers as well es the Garnpaign opposing the development proposed neKr to Lugg Meadows end explor8d climate 8dapt8tions forcornmunities. Our six Loe8lBr8nchGroups continu8 tothriveand offer our member5, and the wider public. opportuniti8s to connect with nature in their local village, town or city. Most groups run regular meetings with guest speakers while some run community events and practical conservation projeGt5. The Ross-on-wye branch ran a series of wildlife gardening workshop have also established link with local schools, this year engaging with over 200 children and young people The Hereford City branch continue5 to rtTranage th8 Heréford Yazor Brooks Restor8tion Proj8Ct. raising funds, running Practical work p8rties, conducting river fly survèys and runningpublic engagemènt 8vents. Huge thanks go to allour local branch Eroupswho work hard to repr8s&nt the Trusi acros￿ the county and continually inspire and 8ngage with their local cornmunitl8S. We h81d our first eventfor businesses, Wildlife al Work. in SÈptemb&r which included presentations from businèsses already t8kinE Positive action for nature and a chance to nètwork and le8rn from each oth8r. We plan to make this an annual event, growing it esch ye8r. D6velop a bolder eampalgnlng voice and deliver prooctlva advocacy Aplanninggpplication for a hug&development right besid8 Lugg M8adowsSSSI was submitted 10 th8 Local Authority just prior to the start of the year. We worked glongside CPRE Hefefordshire, Plantlit& and coordinètors of the 10¢81 Action Group, running a digital rnobili5atiDn campaign and holding a patked public meetingin April and resulting in over1,000 obi&ctions.The proposal is beingalt&r&d and resubmitted by the developer, so the campaign Continues. To Ènsure nature had a voice at the gener81 election, we participated in The Wildlife Trust's narional ampaign and ran oui own hustings in both our North Herefordshire and Hereford and South H8refordshire constitU8nci&8 att&nded by most of the candidates and large audiences grmed with testing questions. We have also continued to advocate for HerefDrdshire's rivers, ggain attending Tesco'5 AGM to 35k for detailed plan on how they will 8nd th8ir part in the pollution that corne5 from the production of their products. While their response 18ckèd Èny detail or assuranGe5, we hope this contributed to keeping the Issue on the sgenda. Locally, our NatureAction Network held 8 Day ofActionfor Rivers. 7th Seprember 2024. Cornmunityg¥oups and action tak8rs cam8 together to present three events 8cro55 the county. Firstly. in Hereford, the Her&ford City branch of the Trust led a colourful procession of over 100 people through tha city, followingth* Goddess of thewye to highlight localsupportfor increaying aregs of wetland wildlife habitat within the city. S8contJly, starting from the village of Wellington. Holly Thornp50n, Programme Officer with the Wye Adapt to Climate Change Project, led gn intorrn3tive community w8lk along th& W811ington Brook. Lastly, while in R05s-on Wye. Holly Williams. slso 8n Officer on the project. was joinèd by over 20 people to le4rn more about testing water for pollution 8nd recruited some new In March. ourCEOJ8mi6Audsleyattend8d a roundtableto shap& a nèwRiverWyÈ Catchmèntmanagement Plan and the appr08ch to r8searching and monitoring intérvÉntions with Water Ninister, Etntna Hardy MP and Welsh Deputy First Minister, Huw Irranc8-Davie8. Nature Action: Case Studies Botsny study d8yfor chlldren 'Myfavourite thingw8s dissectingrh8 flow8rslPJ W8 deliv8r8d a dayof botanicaLdistov&ryfor children funded by the Wild Flower Society. The children le8rned the different flower families and parts of è flower, using ay8 lÈnsÈs and identification chans. They also looked at sever8lwildflow8r identification books and the sÈssion lÈader introduced how to use their keys. Thèy than w&Trt on a walk and used 3 qugdrani to mark areas of the mesdow to Identify rhe numbers and then use their keys to identify the flowers and which family they are in. They identified common spotted orchid, yellow rattle, tormentil. buttercup and pignut. Two days later a child who 8ttand8d th& sÈ$sion tame ttr ontt of our community pLay days and she approÈch8d the WildPlay fanger who had delivered the botany day to say that she identified 8 bee orchid on a Ioc81 sit8. A visit confirmed the identification, 8nd the child w8s delighted by her findl Nature-who Gare5? Our General Eleciion husiings On a sunny day in late lune, a w68k away from the General Election, we held two Hustings. First, in the 8fternoon, we hosted Jes8& Norman MP and prospective parliarnentary candidates Joe Emmett for the Labour Party, Diana Toynbee for the Green Party ancl Independenr Nark Weaden at the Kinclle Centre to large audientè. In the evening, we welcomed prospective parliamentary c8ndid8tes Ellie Chowns. for th8 Green P8rty 8nd Jonathan Browning tor the Labour Party to a packed parish h811 in Yarpol8 village. Hosted and moderat8d by our Chair of Trusiees Alison Mc18an, discussion at both èvents tovered a r2ngÈ of 8nvironm8ntal 8nd social issu8s. The hustings Ènsured that nature was given a voice in the election and highlighted to thé candidates the import8nce of wildlife and wider environrnental issues ro the people of Her8fordshir&. The Ross-on-wye branch goe5 b8ckto school -During May, thtr Ross branch attended local primary ychoo15, teaching them about the needs of nature. We used pollinating insects. snd hovÈrfli8s in parriculgr. to give &xamples ol lifecyclès and Ihe need lor sh81ter. food and water. Once we tested the students, underst8nding and amazed thern with som8 intérestingfacts, we 5how&d them howto build a hov8rtly18goon an(1 howto b8come citizen scientists and send In their findings as theywatch th8 developrnent of th8 hovertlies throuEh thevarious larval stages and tha pupal stage of the IifÈ cytl8. We've been focusing on years 5 and 6 and hav8 found the student5 highly knowladgeable and very kè8n to do a project aftérwards. We've talked with rnaybe 200 students at fiv schools thi8 year and hope to get to mor? next year.~Andrew d8 la Haye. Chair, Ross-on-wye branch. Sustaining our Future Th8 Board of Trustees undÈrtakes an annu81 review of it8 governance. This year an Independent rèview of governgnce was und8rt8ken by the Royal Society of Wildlite Trusts, identifying a positive traj8Ctory. The review id&ntilied a good skills reviaw proc8ss and action pl*n In place and encourÈg8d the board to consider prioritising the following. 1.To consider as Part of the ski115 audit and 8nalysi5 for recruitment for 2026 to eKplor8 brin@'ng busin8s8 man8gemerTrt experiencè on to the Bo8rd. 2.To considÈr th8 u88 of stantl¥rd ternplates for all Board and Commrtt88 m8eting papers. 3.To consider h8ving8 fixed timetable forwhen th? Board can e¥pect to have atl papers and annexes by, in preparation for meetings. 4.To consider 8 session at Board beMeen Trustees and just the CEO es well as with the wider S&nior Leadership Tearn. 5.Consid2r including Staff Morale temperature check in the CEO report to Board. 6.To h4ve role d88criptions foreach lèad role that ¥ Trustee has Ir&cognising th8t ere in place forthe ChairlVic8 Chair. Secretgry and Treasurer role51- TheTrustwill be refreshing its busin&8s p18n in the yearahead to align with 8 refreshed strat&8y 2026-2029. Grow and dlv*t$lfyfundlng Streama In Septetnbsr w8 publicly launched our E1 Million J-year N#ture Rocovery Fund fundraising app8al. The fund is giving a hug8 boost to our unrestricted income and givps us th8 resource to develop ntw projects 8nd programtnes. Thefund raised overE200,000 sn this firstyearwhich includes over £47,000 of donations from individual support8rs. Thi5 year we welcorned ourfir5t Nature Reserve Guardian business.. The Riverside Inn 8t Aymestrey. a new Investor in Wildlife,Wyevgle Nurseriès plus new corporate members Hoople and the Breedon Group. As p8rr of our donor Èng2gem8nt programtne, we wèlcomed donors to two ev8nts at our nature reservès to showcase progress on projects and to continue to grow our key supporter relationships. Our job evaluation and p8y review coneluded in May 2025 to ensur8 811 staff are remunerated fairly and have clearjob descriptiong. New revised job descriptions were provided ftrr all 8r8ff'. a framework criterion was cr88ted to score job dtrscriptions. The evaluation ensured jobs were align8rJ fairly. and remuneratèd in line with market pgy. Where disparitl88 were identified. sa18ries were adjusted io ensure fairness. All recornThend8d salary adjustments havè now been irnplementéd. The tot81 annual cost of these pay improvernents was £15,173. Including national insurance and pensions, for six members of Staff. Going forward, we now have a dèfinad format for job d&scripiions and 3 cleÈr ev81uation frarnework to strt remuneration for new rolès 8nsuring alignment and f8ir pay. In June, we est8blished Staff Voice, a forum to provide a space tor active listening gnd a pl8ttorm for st8ff to raise Id8as and issu88 to be discus$8d with the managementtearn. Our St2ff Survey in 2024 highlightBd keyareas for improvement to support staff wellbeingwhich resulted in an action plan to fflake further improvementsto the waywe work. We launched new'O¥klie' Employ8e Awards in D8cemb?r to recognlst outstanding BChieVemE￿t5 contributionsfrom staff. Th8s8 awards are designedto recognise thosewho go above and beyond, making a significant impact on our organisation and embodying our core values. We retain8d our Th¥iv& 2t Work Bronze level for the West MidLand5. Thi5 8W8rd underscores our commitm8nt tts fostering a hèalthysupportive work environment. All 5t8ff 'saf8ris' took place to The Doward and Bodenham Lake for tèam building and Integration Bnd for staff across the organisation to le8rn about our nature reserves and their flora and tsun3 We 3lso visited Wye Valley Brewery lone of our cotPDraté'lnv8$tDrs in Wildlife'l to look at the nature-friendly inierventions they had mad8, enjoy a rour ofthe brewery and di5CUSS Otherwayswe Gould eng3ge with buyinesses in ihe futurè. Th8sÈ days outwÈre attpnded by 5t8ff, Trustees 8nil our membership recruit8rs18mployed bysouth Wesrwildlife Fundr8ising Ltdl. Our Health and Safety Policy was ravised and upd8t8d in July 2024 with 8 Health and Safety review led by our Health 8nd S8fetyTrustee le8d to provide assurance that this is t8kan very $8riously at th8 Trust. Over the year w8 have be8n r8viewing and improving our volunteer admini5tr8tion processes snd communications. We have started a new weekly volunteering email newsletter to let sll volunieers know about th8 wid8 rangé of opportunities they c8n get involved in each week as well as upcoming social and training èvènts. Th8 aim of thi5 IS ta rn8ke our 8pproach to volunteering rnore inclusive. with 8Ctiviti88 advèrtised to all voluntee15, and to help volunieers feel better connected to the Trust and b8tt8r informed. We also launched a Volunteer Voice forum in M8rch. This provides a space for volunteers to sharg concern8. ask questions and sugg8St ideas and improv8m8nts to our w8ys of workitig. It is open to all volunteers to 8ttend andl or submit topics for discussion and h8s prov8d a valuable forutn for irnpioved ¢omrnunic8tion. Su•kthth¥our FAiuio ILQu9qnsY￿Qd This year WÈ concluded the di550Lution of our pgrtnership with New Leaf Sustainable Development. Th8 P8rtn8r8hip had previously mgnaged Queenswood 8nd BoderTrharn Lake as a joint ventur8 on 8 99-ytr8r lèase frotn Herefordshire Council. The Truyt are nowthe sole operators of Quaenswood Country Park and Arboretum and Bodenham Lake. In 2024, Qu8enswood w&lcorn8d 212,000 visitors, an increase of 4% on the previous year. It remains th8 m08t visitÈd attrÈrtion In Herefordshire. With the strongvisitor number growth. the cornmercial OUil&ts at Qu88nswood performed WÈIL and gènerated valuable funds to re-invest in both Queenswood and into the wid8rwork of the Trust. The Woodland Cafe at Queenswood complered its first, full year of trading und8r our management and served over 33.000 visitors. During the year. the ream have creaied some great working relationship5 With localsuppliers including Kelsmor ice cre8m IG4rway.l Tudge sauseges (Richard's Casri818nd L8ne Cottage Produce18irtleyl. During ihe ye&r with rhe help of Accessible Herefordshir8, Qu88nswood commenced a project to review accessibility. to ensure all vi8iiof8 can acc&ss nature. This Includ8d È review of Infrastructure, offer and opergting procedures. Following this, we wara successfully award8d a numb8r of grants to undertake key improvamants th2twill 8nsur8 Quèenswood can be ÉnjoyÈd by all. Wtr have 8Ctivelypromotsd our venue hire opportunitias thisyear including publishinga newbrochure. This has r88ulted In a significant ris8 in bookings r8ising unr88trict8d income and brinwng more people to Qu8en$wood. Su$t¥lning our Future: Caso Studies Acce$$ibl& Que8n$wood This project 8im8 to improve acc8ss around Queenswood by r8moving b8rriers and improving ease of access. We conducied an in-dèpth r&view of infrastructure and site operations with the assistance of Accessib18 Her&fordshire, which resulted in a number of recomm8nded improvements. Funding w8S then soughlto allow u5 to improv& access for 811 and we would like to thankthe EvesonTru81. Nineveh Trust, E F 8ulmer Trust. RDwlands Trust and the Tumer Trust who have all Eupported elemen[8 of this project. This has allowed us to purchase two'Tramper' mobility vèhicl?s for visitors to use to followthe tr8il around th& arboretum and planfora wheélchairswing. autornatic, accessible doorsforthe café and visitor centre, and an RNIB taciile'map for aLi,'to be Insta118d in 202516. Nature Reserve Guardlan: Tho Rivor¥ld• Inn. Aymestrey At th8 Start of ihe year, The Rivarside became our first N8ture Reserve Guardian. Tha award-winning pub, which already had 8 reputation for giving n8ture a htrlping hand. comrnitted to fin8ncially support th8 rnanag8m8nt of thiyvery special rèserve forthe year. '1 guess It's an unusu81 move fora pub to step in to crBÈt8 this kind of impact, but herè atthe Riverside we have 8 long history of helping ngture, from providing hedgehog hou88s In our grounds, to growing pollinator friendly plants, to pl8niing native hgdging and a traditional orchard for the benefit of wildlif8. "Tht Goggin is p¥rticulBrly special to me. as I grew up on a f8rm not far away. It's also within w8lking dist8nce of the pub, so our gu8Sts can viglt." R8vlawol the flAantl8L ptssititsn at yearend This year the Trust regi8terÈd Hereford5hire Wildlife Enterprises Limited, 8 trading subsidiary of the Trust. Togetherthe Trust and its subsidiary make up"The Group" ThetotglGroup income fortheyearincreased to £ 2.962,23512023124-. £1,593,3291, this includ8$£718,222 in relation to the recognition of 10096 QWBL assers and a £132,735 gain on the revBluation of Queenswood 5set5. Thi5 represents 8n incre&se of 86% against 2023124. The Group has ganerated a surplus of £763,489 in 2024125 12034124.. £162.180 (leficitl. Excluding the transf8r, rtrvalu8tion ol assets and an investmpnt loss, the Group has made a deficit of £75.877. Unrestricted income increased from £987,369 to £1,448,322 reflecting increases in dtrnations, new embers and the growth of traded services. Resrricr&d incom8 also increased frotn £625,gS9 to £1.513.913 reflecting a higher level of Érant Income 8w8rded to the Trust Hnd the rerognition of 100% of QWBL 8ssets post cessation the partnership 8gream8nt. Several proj8Cts, Including National Highways N4N3218gdenh3m Reedbed. Y8zor Brook Hereford Council 2D24, NHLF Next-door Nature, and Severn Waste IN8ture Action) ended during ?02￿25 and h8V8 been replaced by new projecis which h&ve been won for d81ivery In 2025126 and beyond. Thè strong pipeline of proje¢ts h85 ensured th8tturnover can be maini8ined infutur8. Expenditur8 Wlthin the Group incr?as8d ov8rthe year from È1,779.736 to £2,319,890. Within these tot81s, unrestricted 8xp8ndiiur8 Incr8as&d from £1,046,714 to £1,579,658. There was a small incre8se in restricted expenditure from £733,021 to £740,232 r8flectingth8 changes in the restricted income. The outlook for 2025126 8nd beyond is good as the Group moves b8ck to positions Ihat grow unr8siriet8d incorre. St￿ngthen1￿gthe balsnce sheet reserves. The receipt of a lary8 legacyin MÈrch 2025 hès assured us th8t ourcashflow position is good for the comingyear. Flnat)cl8t 8ff8Ct of signlflcant 6va*Fi$ Spe¢i&s Recovtiy work h8d b88n impacted by a wet 5urnrner and much h88 been carried forward tD 2025126. Delay in Gomrnencement of key projeets has resulted in a reduction in Full Cost Recovery. Ice cream van contract terminated leading io reLluction in cafe Incomè. Flnanclal Re86rves policy Th8 Financé Committ88 règularly revi8WS the level of reserves gV8ilable (both restricted and unrestricted) balancing the nÈ8d to advance the work and developrnent of the Trust Wllh Ihe duty to rnaintain a secure financial base. The Groups unre5trictpd funds arrounted to É210.594 at 31 M8rch 2025131 March 2024.. £244,1221 and restricted funds of £4,801,471131 M8r¢h 2024.. £4.004.4541. The Trustees aim to maintain suffici?nt res8N8Sto ensure the Trust Is able to meet its financial obligstion8 in the &v8nt of 8 sudden significant reduction In income. Accordingly. the minimum threshold for unrestrict8d reserves is r8VI8W8d and agr&&d each year. All budgets and financiel projection5 are a55e55ed wilhin th8 constraints of thi8 thrèshold. 14 Thé Groupsfree resèNas as 31 March 2025 were £186.55912024- £239,372) r8presenting under 3 rnonth5 of the Trust's unrestriGt8d 8nnual expenditur8. This is below our taryet r8nge of 6-9 months, exptrnditufe. The Trust intends to rebuild lis free reserves over ihe next 24 months to rneet our target. W8 will achieve thi5 through.. OnEoing work to deliver growth In membership, donations Bnd leg8ci8S', developing our tradings8rvicÉs (cafe. environment81 markets and consult8ncyl.' careful control of costs, rèvi&w of statf structurè-, and Increased contribution frorn restrictad projects to unrssrricted incomtr. Inv?stm&nt perlormanee Th8 finance committee h8s gdopted a policy of investing funds to produce a fin8ncial return of CPI plus 4%, net of gxpenses. over e five-y8Èr period but obsÉrvin8ethic81 consid8rations consist&ntwiththeTrust's over811 8im8 to ènhance biodiversity, promote wildlife conserv8tlDn and support 8nvironment81 protections. On 31 March 202S. th8 inv88tment held at COIF stood 8t £260,871. a drop of 2%123124.. 265,2061. This f811 W8s in line with world markets which fell as US trade policy conc8rn8 weighed on investor. Gonsumer 8nd business confidence. Overall the COIF Chgrities Ethical Inve5trnent Fund performed well 8gainst most world rnarktrts which fell ev8n more steeply. Principal risks and un¢ertalnties The TTUSt8es regularly r8vi8w the risk8 tha charity fgces and where appropriate establish processes and procedures to mitigat8 those risks identifi8d, including, where appropri8t8, putting in place insurance and Betting aside financial re88rves and taking active steps to Tnaintain positive relationshipy with our key stakeholders. Risks and unc&rtainties are summarised ayfollows.. Maintaining Bn *ppropriate b81ance between restiicted and unrestricted activity 8nd th8r8by Schieving 8 sust8in8ble finanti81 outcome carrylng out the Trust's charitable activitiés within its avai18ble funding envelope. Significantchallenges in recruiting and retainlng staff due towage infLation gnd the volatility in thè UKjobs m?rk8t. Systems breachl IT fraudl cybprcrime, Increased rlsk of data breaches, virus snd rnalw8re attacks and sophisticated attèmpts at online financial crirne. Rising costs and inflationary pressures of energy, rnaterials and supplier costs may lesd to gre8ter unrestricted contribLJtion8 to projects and grtr8t8r likelihood of Iner88sed core costs. Risk of UK Governrnent Policy to reinvigorate the UK economy, not 8ccounting for wildlife and environment81 factors, inste8d fgvouring commercially focused activity including housing development and large infrastructure pl8ns, to the detrimeni of wildlife. Gr68rerpublic awarenessof complexenvironmentalissues challengestheTrustto hBve suff icient resource and capaoityto re8Ct and respond In a timely rnann8r. The occurrence of an &v8nt th8tthre8tens the reput8tional d8mage or integrity of the Trust. Sudden loss of key personnel or our head office communication and IT system5. Pot8ntial for ov8rtradingwiih lirnit8d resource to dèlivÉra large, diverse rang8 of projects. Going concern The bogrd of Trustees consid8r8d th& Status of the Trustasa goingconcern in Sept8mba¥ 2025. considtrring the 2024125 ye8r-end results for unr88tricted and restricted funds and ihe forecasr for 2025126 and 2026127. Withinthis raportW8 have rèviewed the Trusr'sfinBncial performanc8 overth8 lastyBar, thelevelof reserves h?Id, ènd the principal risks and uncertainties that we facè. From a financial perspective. the Trustees consider thatthe charity remain8well placed to manage these risks. This ass8rtion is supporttrd by.. its medium-term financial plan eovering 2025126 Bnd 2026127 that IE reforecast on 8 qU8rterly basis an embedded ongoing stress testing of the fi'nancial plan which includ&s identificBtion of critical adv8rse pertDrFnance to enatsle early mitigarion action totake place. financial improvernent pl4n approved by th8 board of trusteès which forecasts th2 Trust to have significantly enhanced its total r8serv8s by 31 March 2027 and for its ca8h and marketable inve5tment3 to be at 8 level r8pr8s8nting six to seven rnonths of total annual expenditure. a positive relationship with our key fund8r8 and È proven abilityto deliver our charitable 4ciiwties and services. The budget Is approved by the Board ot Trustees on an annu81 basis 2nd pérformance against budget is r8vi8w8d and reforecaston g quarterly b8sis.Th&2025126 budgètand 2026127 plan both aysume surpluses will be d81iv*r8d. A8 noted abovg, our fin8ncial plan to 2026127 for&caststhat we will sust8in e position above our minimum serveyfigure measured on the total liquidity basis. As det8ilecl in our reserves policy and explained h8r&, we hold free reserves to provirJ8 cov8rfor unexpected change8 in ￿nCOrne and expenditure and to allow u8 to adjust our cost base and continue activities. We will conrinu8 to monitor thè sltuation and manage our fin8n¢es sccordingiy. Th&Trust8es therefore have o reasonable expect8tion that thè charity has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these finBncig1 statement8. Accordingly, the financial ststements eontinue to be prep8red on the going tttsncern b8315. 16 kin We &re now two yèars into our three-year srr8tegi. In our final $tr8t8gy year, we look to consolid8te thesa achievernent$, continue to develop our pipeline of proje¢t8 2nd begin to plan forthe futura. Nature Recovary With a number of current projects corning to Ènd in 2025126 and 2026127, we a￿ developing a suite of programm8s to build on these successe5. Wa are partnering with RadnorshirÉ, Worcestershire 8nd Gloucestershire Wildlife Trusts on grant &pplic8tions for landsc8pe-sc8le recovery projÈtts as w811 as developirig projects pur8lywithin Herefordshire which focu5 on geographical areas-the Wuolhope Dome and the Doward-and key spec18s such as the lesser spott8d woodpecker. n 2025126 we 8re forming a working group with th8 remit of developing a sustainable appro8oh to our nature reserve5 following a recent op&rational review of our nature reserves management. Nature Actlon Our Generation Nature progr8mme continues through 2025128 wilh the delivery gf the How8rd Bulmer Young N8ture Chatnpion Awards projects and the developmentoftha Youth Forurn. Ind wewill be $88king grantfunding to continue and expand thiswork. Our WildPlay programme continues to thrive end is fully booked for 2025126. We continue to develop projects to deepen our engagementwith cornmunities in Hereford, focused on the city'5 waterways and watlands. and with communities across th& county 8nd hope to secufè grant funding for new projects in 2025126. Su8tslnln¥our Fyturg This year we Bre embedding Queenswood Counrry P8rk 95 our'FlÈgship' nature r8serve to 8Ct 85 a gateway sit8 lor 811 to 8ccess to nature, completing the Implenient8tion of Acctrssible Queanswood improvernents and growing ourvolunieergroups. .TiJLal Herefordshirewildlife Trust oper8tey to high fundrsising standards. We are rewstered with the Fundraising Regulator and follow its Code of Fundraising Practice and Fundraising Promise. We have a contrsct with south W88t Wildlife Fundraising Limited ISWWFLI to incrÉasè our memb8rship r8eruitm8nt. SWWFL comply with all rÈlBvant standards, including protection of the public. p3rticul8rly vuln8rabl8 peoplè, from unr8asonÈbly intrusivè or porsistentfundraisingapproache5, and undue pressure to donate. SWWFL follow all 8pplicgble regulations, 18ws and the Fundraising Code of Practice and are responsible for dealing with any complaints regarding their 8Ctivities. We set arTrd monitor a range of key p8rfortnance intJiGators for SINWFL. We 8re committÉd to trxcÈllént custorner service and welcome commsnts and feedback 8bout thew8ywe work. EvÈry cofflplaint is taken spriously and dealt with in line with our CornpLgints Policy which we réviewed this year and 15 available on our website an on request. We tryto resolve complaints as quickly and efliciently as possible. and in a personal, lair and confidantl81 way. W8 havè rtrcèivÈd four forrn81 Bomplaints this year. Thpse were with regards to the ending of our Wil(Ilife Watch Club activity sessions.. the experience of a volunteer on induction of a pgrtnership project,. the rnanagefflent ot a spring 3t our Le8 gnd Paget's N8ture Reserve the inreraction between a mernber of staff and volunteer. All complaints were addressed vi& our complaints proceLlure with no outstanding GtIOnS. We will always be cl8ar, open and honest whetTr Gommunicating with SUPPDrter5. We respect theii privacy and contact preferences. We reviewed up(lared our Privacy Policy and Data Reieniion Schedule last year8ndthese aregv8ilableon ourwebsite and by request.Weare reviewingalldaia protection procedures and policies in 2025126. We experienced on8 personal data breach in $8pt8mber 2024 wh8n 8 number of email addresses of members w8r8 wrongly sh2red by noi using the bcc email address function. All affected metnber5 were Immediately Informed and processes put in place to tninimize the risk of this error being repeated. rn nce Mana ement Th8 Trust 18 8 company lirDited by gugr8ntee, 95 defined by thè Cornpani&s Act 2006. Th& Trust was registered ès 8 eharityon 30 November 1962 and incorporated 12 DeCe￿ber 1962 in England Ènd Wales. The charity is managed In accordance with rhe Articles of Association. The current Articles were adopt8d byspeoial resolution passèd on 18th Octob8r2016, with lurtheramendments In October 2020 and October 2022. The Tiust is governed by a Board of Trustees, consisting of up to twalve Trustèe8, meeting normally lour times a year. Trustees are elected 8t the relevant Annual General Meeting IAGMI. Tha Botrd of Tru8r88S has the power to co-opt Trustees for a period up to th8 next Annual C&neral M88ting, to fill casual vacancies. Elected Tru$t8es may seroe a term of up to nine years. subject to re-election everythree years. There gre three COTnmitt88S of the Board covering Finance. Acquisiiion an(1 Disposal of reserves, and People. The Bo8rd also maintains a Nature RecoveryAdvisory Commitiee Trustees are ihe Director5 of the Trust for the purpose of the Comp8nits Act and ar8 tha Officers of rhe Company, with controlof the Tfuyt, its property and fund5. The Chair, Vice Chgir and Honoraryofficars are &18ct8d at the firsi meeting of the 803rd of Trustees followingthe AGM. New Truytees are re¢ruit8d mainly through advert188ments placed with volunteei agencies and within the Trusi's own publicationy. A p3nel of up to three existing Trust88s Intarvi8ws prosp8Ctiv8 candidates and m8kes r8commend8tions for appointtnent, based on an 8SS8ssm8nt of th8 Individual's sknlls and 8xperience against g Tru5te8 rolp description and skills gap audit of the Board. All new Truste88 rÉc8ive an induction pack. which include8 3 copy of the Trustee persong15pecifiGation, the Code of Conduct, the terms end con(litions of service, the 18te5t audited accounts, the Charity's governing documénts 2nd cont8Ct details for other Trustees. The Trust also offers full induction and Trustee mentoring scherne, pairing new Trust88s with existing Trustees. ro help them 10 learn about the Trust. There is a Trusieetrainingbudget for govèrnance-r8lat8d Issu8s, which includes provision fOr￿0'alL Trust, meetings of staff 3nd Trusttres 8ach year. Th8Trust8es hava appointed a Chief Executive Officer,Jamie Auds18y, to manag&th&dÈy-to-dayop8rations of the Trust, including the man8gement of staff and the development snd irnplementation of policiÈs, strategi8s and bu51n8ss plans. Th8 Trust Is 8 member of The Wildlite Trust5 (Twfi fÈdtrration of 46 individualwildlifa Trusts eo-ordinated and supported by the Royal Society of Wildlife Trusts (Charity nurnber 2072381. Rswffacilit8ta8 eff&ctlV8 coordination and coop8ration across the movement 8nd undert3ke8 lobbying and public reLations on beh8lf of all Wildlife Trusts, giving the Trust a n81ional voice and profile. Members have the use of RSWT'S brandingand ben&fit from accessto resource5. best practices and experien¢e of other members. 19 R ferences &Admini Registered Company numb•r.' 743899 (England and Wales) Registered Charity number.. 220173 Regisiered Office: Queenswood Country Park. Dinmore Hill. Leominster HR6 OPY Trustees Alison McLegn- Chsir Jak8 Bharier- Int8rim Tr&asurer Debbie Beaton joe Cole (resigned 7 October 20241 Richard Cryer Iresigned 8 March 20251 Michael Dawson Jacob Dowling Btrcca Hadaw8y Jim Hardy IresiEned 9 lune 20251 Ben Mccarthy lappoint8d 24 October 20241 Jane Se2brook Matt Williams (resigned 4 Nay 20251 Chiof Executive JBtlli2 Audslèy Senior staff Head of Comm8rcial." Max Smith Head of Finance.. Matthew Where8t18ppointed 30 June 20251 He8(1 ot N8ture Action.. Frances Wèèks Head of Nature Re¢ov8ry". Claife Spicar (resigned 11 July 20251 Head ol Nature Recovery.. lan Grafton lappointed 1 September 20251 Opèrations Manag8r.' Eleanor Cherry SeniorSt8tutoryAuditor Lisa We8ver FCCA Auditors Thorne Widgery, Chartered Accountants, statutory Audltors, 2. Wy&v8le 8usiness Park, Wy8vale Way, King's Acre. Hereford HR4 78S B8nker5 CAF Bank Lim1t8d, PO Box 289. West Malling. Kent. ME19 4TA Cooper8tive Bank, 23A St. Aldate Street. Gloucester, GL1 1RU Svllcltors Gabbs LLP, 14 Broad Street. Aereford. HR4 9AP Larnbe Corner LLP, 36137 Bridge sir&tt, Hereford HR4 9DJ Land Agent Peter Kirby, ARICS, Sunderlands & Thompsons LLP, Offa House, 2 St. Peter's Square, Hereford, HR12PQ Invasiment Manager CCLA Investment Manageryent. One Angel Lane. London. EC4R 3AB 20 Statutory Information So far as thè Trustees are awartr, thera is no relevant inforrnation las defined by Section 418 of the Cornpani88Act 20061 ofwhich the charitable comp3ny's auditors are unaw8re. Each Trustee has taken all the steps that they ought to h8ve taken 95 8 Trust88 to make themselve5 4ware of any audit information and to establish that the charitable rompany's auditors Bre gware of that inforrnation. Small Company Exemptlon This report has bÈ&n prepared in 8rcordanc8 with the special provisions of Part 15 of the CDmpani8s Act 2006 relatingto small companies. Auditorts The auditors. Thorne Widg8ry Aecountsncy Litnited. will be proposed for ra-appointrnent at th8 forthcoming Annual General Meeting. 261hSÈp1￿￿èr2O2S Apprc>ved by order of the bosrd of trustees on....................-.... .and signed on its beholf by.. A McLean- Chgir 21 Statement of the Trustee's Re$ponsibllitie$ The trustees (who gre 9150 the directors of The Her8ford8hire Wildlife Trust Limited for th8 purposes of company lawl are responsible for prep8ring the Report of th8 Trust88s and the financial statements In accordance with applicable law and United Kingdom Accounting Standards IUnit&d Kingdorn G8n&r8lly Accepted Accounting Practic&l. Company lawrequir8sth8trust88stts prÈparB financial staternentsforeach financialyegrwhich giv2 3 true ndfairviewofthe state of affair50tthech8ritable companyand ofthe Incomingresources and application of resources, includingthe income and expenditure. of the charitable con)panyforihat period. In preparing those finÈntial statements, thetru5tee5 are required to select suitable accounting policiès and thèn apply th8tn consist8ntly- observe ihe m8fhods 8nd principles in the Charity SORP., m£kejudg8m8nt8 8nd estimates that 3re reasonable and prudent,. state wheth&r applicablè accounting 5tandard5 have been followed. subject to any rvatgri81 dèpÈrturÈs digclosed and explained in the financi41 statements. prepare th8 financial statement5 on the going concern basis unless it is inappropriaie to presume thatthe Gharitable cofflpanywill continue in business. The trustaas are r88ponsib18 for k8eping proper accounting reGords which discL05e with reasonable accuracy at any tim8 the fin8ncièl position ot the charitable compgny 3nd to enable them to ensure that the financial stat&mants comply with the Companies Act 2006. They 3re also responsible for safeguarding the 8s$8ts of th& ch8ritabl8 tompany and hence for tgking re8sonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustè8s are aware.. th8r8 is no relevant 8uditinftrrmation ofwhich the ch8ritablecornpany's Huditors are unaware., and the trustees hav8 taken aLi steps that they ought to have taken to mBke themselves aware of any r8l&vant audit information and to establish that the auditors 8re 8W8re of that inforrnation. The Trustees are responsible for ihe maintenance 8nd Integrity of the corpor8te and financial Information included onthe ¢harit8ble cornpany'sw8bsite. Lagislation in the Unir8d Kingdom gov8rningrhe preparation dissemination of financi81 Erarements may differfrom legislation ln otherjuri8diction8. Report of the trustees. incorporaiing a strategic report, approved by order of th8 board of trustees, as th8 cornpgny director5 on........... 8nd signed on the board's b8halt by.. A MtLeèn-Chair 22 Opinlon We have audited th8 financial statements of The Hereford5hire Wildlife Trust Ltd Ith8'par8nt company'l for the year ended 31 March 2025 which comprise the Consolidatèd St8t8ment of Financial Activities, the Consoldiated Balance Sheet, the Charity Balance Sheet, the Consolidated Cash Flow St8tement and notes to the finan¢ial statements. including a summary of significant accounting polici8s. The financial reporting framevvork thai has been applied In their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acc&pted Accounting Pra¢ti¢el. In our opinion the financial statements.. give a true and fair view of the st8ta of the group 8nd charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resoLJrces, including its income and expenditure, for the year then ended", have been properly prepar8d in accordance with United Kingdom Generally Accepted A¢¢ountinÉ Pr8Ctice- and have been prepared in a¢cordanc8 wilh the r&quir&ments of the Companies Act 2006. Basis for opinlon W8 conducied our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our r8sponsibilities under those standards are further d8scrib8d in the Auditor5, responsibilities for the audit of the financial statements se¢tion of OLJr report. We are independent of the group and charitable company in accordance with the ethi¢al requirements that are relevant to our audit of the financial statements in the UK, including th8 FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in a¢¢ordance with these raquir8m8nts. Wa believe that the aud￿1 evidenc8 W8 have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lusions ratatingto going concern In auditing the financial staiements, we have concluded that the trustees, use of the going concern basis of accounting In Ihe preparation of th& financi81 stat&m8nts is appropriate. Based on the work we have p8rformed, we have not identified any material uncertainti85 r818ting to events or ¢onditions that, individually or collectively, may cast signifi¢ant doubt on the group and charitable company'5 ability to continu8 as a going concern for a period ol at least twelve months frorn when the financial staternents are authorised for i55ue. Our responsibilities and the responsibilities of the trustees Wlth respe¢t to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomation. The other information comprise5 the information included in the Annual Report, other than the finan¢ial statements and our Report of the Independent Auditors thereon. Oui opinion oin the finan¢ial st8t&ments does not cover the other Information and, except to the gxtant oth8nNi$e explicitly stated in our report, we do not expr8SS 8nyform of assurance ¢on¢lusion th8reon. In ¢onne¢tion with our audit of the financial statements, our responsibility Is to read the other information 8nd, in doing $0, ¢onsid&r wh8th8r th8 Other information 15 maierially inconsist8nt with the financial staternents or our knowl8dg8 obtained in th8 audit or otherwise appears to be m8t8ri8lly mi8Stat8d. If w8 identify such fflaterial inconsistencies or apparent material misstatement$, we ara required to determine whether this gives rise to a material mi85tatement in the financial staiements 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 Ihai ia¢t. We have nothingio report in this r8g8rd. Opinions on other matters prescribod bytho CompaniesAct 2006 In tsur opinion, based on the work undertaken in the course of the audit.. the information given in rh8 R8POrt of the Truste&s for the financial year for which th8 financial stat8m8nts ar8 pr8par8d 18 con8i8tent with the finsncial staternents. and th8 Report of th8 Trustees has been prepared in a¢¢ordan¢e with applicable legal requirement5. 23 Matters on whleh wg arg rgquirgd to roPQrt by excgption In the light of the knowledge and understanding of the group and charitable company and its environment obtained in the cour$8 of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to r8POrt in respect of the following m8tt8rs wher8 the Companies Act 2006 requir&s us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received frorn branches not visited by us., or the financial statements are not in agreement with the accounting re¢ords and returns., or certain disclosures of trustees, r8muneration specified by law are not made., or we h8ve not received all the information snd exp18nations we require for our sudit. Responsibilities of trustees As explained more fully In the Statement of Trusiees, Responsibilities, the tru$teos (who are also the directors of the charitable company for the purposes of ¢ompany lawl are responsible for the preparation of the finan¢ial statem8nts and for being satisfied that they give a trLJa and fair view, and for such internal control as the trustaes d8t8rmin8 is n8C85sary to 8nabl8 the preparation of financi81 st8tem8nts that are fr88 from material misst8tem8nt. whether due to frEud or error. In preparing the financial statemellts, the trustees are responsible for asse5s1ng the group and charitsble company's ability io ¢ontinue as a going ¢on¢ern, disclosing, as appli¢able, matters related to going concern and Ltrsing th8 going conc8rn basis of accounting unl&ss th8 trust8es either intend to liquidate the charitab18 company or to cease op8r8tions. or have no re81istlC 81tern8tive but to do so. Our responsibilitles forthe audlt of the flnancial statements Our Dbje¢tiV8s are to obtain reasonable assuran¢$ about wh8thef the financial statements as a whol8 are free from material misst8tement, whether due to fraud or error. and to isskje a Report of the Independent Auditors that in¢ludes our opinion. Reasonable assurance 1$ a high level of assur8nce, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect 8 material misstatement when it &xists. Misstat8ments c£n arise frorn fraud or error and are con5iclered mateiial if, individually or in the aggregate, they could reasonably be expected to influenee the economic decisions of users tak6n on the basis of these financial Statements. The 8Xtent to which OLJr proc8dur8s ar8 capab18 of detecting irregularities, including fraud is detailad below= Fraud and broaches of lawy and regulation$- ability to d¢to¢t Identifying and responding to risks of material misstatement due lo fraud To identify risks of maierial missi?tefflent due to fraud I fraud risks") we assessed events or conditions that could indi¢ate an in¢entive or pressure to commii fraud or provide an opportunity to ¢ommit fraud. Our risk assessmeni procedures includ8d.. Enquiring of trust8e8, the financ8 committ88 8nd inspection of poticy documentation as to the Charity's high-level polici83 and procedures to prevent and detect fraud a5 well as whether they hav8 knowledg8 of sny actual, suspected or alleged fraud. Reading Trustees. meetings and finance committee minutes. Considering performance tsrgets for management. 24 We communicated identified fraud risks throughout the audit team and r8m8ined alert to ony indication5 of fraud throughout the audit. As required by auditing 5tandar(J$, and taking into a¢¢ount our ovefall knowledge of th8 control environment, we perform procedures to address th8 risk of man4gemant OV8rride of controls, in p8rticul8r the risk that management may be in a position to make in8ppropriate Q¢COLJnting entrie5. On this audit we do not believe ihere is 8 fraud risk related to revenue recognition because the revenue is non-judgem8ntal and straighttorward. with limited opportunity for manipul8tion. We diLI not identify any additional fraud risks. We performed procedures in¢luding id8ntifying journal entries to test based on risk criteria and comparing the identified entrie5 to supporting documentation. These included those posted by finance managemenv those posted and approved by the same user/ those posted to unusu81 accounts. Identifying and responding to risks of rnat¢ri81 misstatement du¢ to non-complian¢$ with laws and regul¥tlons We ideritified areas of laws and regulations that could reason8bly be expected to have a material effect on the financial statements from our gen8ral commercial and sector experien¢8, and through discussion with management185 required by auditing standards) and discussed with management the policies and procedures regarding compliance with Laws and regulations. We communicated identified laws and regulations throughout our team and remained 3lgrt to any indications of non-cornpli4n¢e throughout the audit. The poteniial effect of these laws and r8gul£tions on the financial st8temenisvari8s considerably. Firstly, the Ch8rity is subj8Ct to laws and reguLation5 that directly affect th8 fin8nci81 statements including financial reporting legislation. taxation 18gi51ation and thg Charitie5 Act legislation 8nd we assessed the 8Xt&nt of compliance with these law5 and regul8tions as part of our procedure5 on the relat&d financial statem$nt it8ms. Secondly, the Charity 15 subject to many other laws and regulations where ihe ¢ons8quences of noncompliance could hava 2 m8terial effe¢t on amount5 01 dis¢losur8s in the financial $tat8ments, for Instance through the imposition of fines or litigation or the loss of the Charity's license to operat8. We iclentified th8 following areas as those most likely to have such 8n effe¢t.. health and 5Jfety, anti-brib8ry, employrrTrent law, d8t8 protection. at)ti- money 18undering and specific areas of other legislation re¢ognising the nature of the Charity's activities. Auditing standards limit the required audit procedures to identify non-complian¢e with these laws and regulation5 to enquiry of management, Insp8Ction of regulaiory and l&gal corre5ponden¢g, if any. Therefore, if a br88ch of operational r8gul81ions 15 not disclosed to us or evident from r8levant correspondence. an audit will not detect that breach. 25 LL8t LLd Context of the ability of the audit to detect fraud or breaches of law or regulation Owing to the inherent limitation8 of an audit, th8r8 IS an un8voidable risk that wè may not have detected some material misstatements in the financial statements, even though we have properly planned and pertormed our aLJdit accordance with auditing 5t&nd&rds. For example, the further removed non-compliance with laws and regulations Is from the events and transa¢tions reflected in the financial statement5, the less likely the inherently limited pro¢$dures required by aijditing standardswould identify it. In addition, as with any audit. th8r8 remained a high8r risk of non-detection of fraud, as these may involve ¢ollusion, forgery, intentional Dmissions, mi5repre5entation5, or the override of internal controls. OLJr audit procedures are designed io detect msterial misstatement. We are not rèsponsible for preventing non-compliance or fraud and ¢annot be exp8¢ted to dete¢t non-¢omplian¢e with all laws and regulations. A further description of our responsibilities for th8 audit of the finan¢ial stataments is located on iho Fin8n¢lal Reporting Council's website at Mvw.frc.org.uk18uditorsresponsibilities. This description forms parr of our Report of the Indepenclent Auditors. Use of our report This report is made solely to the group and charitable company's members, as a body, in oceordance with Chapter 3 of Part 16 of the Companies A¢1 2006. Our audit work has been undertaken so that we might state to the ch8ritsble company's members those m8tt8rs we are requir8d to state io them in an auditors, report for no other puipose. To the fullest extent permitted by law, we do not 8ccept or assum& responsibilityto anyone Other than th8 charitabl& company and the ¢hgritable company s members as a body, for our audit work. forthis report, or for the opinions we have formed. Mrs Lisa Weaver FCCA Isenior StaiutoryAuditorl for and on behalf of Thorne Widgery A¢countan¢y Ltd Chartarad Accountants Statutory Auditors 2 Wyevale 8u5iness Park Kings Acre Hereford Herefordshire HR47BS Date.. 26th September2025 26 31.3.25 Tot41 funds 31.3.24 Total funL15 Unr88tri¢ted funds Resiri¢ted tunds Note5 INCOMEAND ENDOWMENTS FRON Dc>nations and legaci8S 412,391 751,399 1.163,790 583,790 Charitable activitie$ Landscapes Engagement 256,238 11,496 682,926 64.600 939,164 76.096 529,891 118,965 Othertrading activiti8s Investm8nt income Other income 754,698 7.975 5,524 14,988 769,686 7,975 5.524 224,052 12,783 124,048 Total 1,448,322 1.513,913 2,962,235 1,593,329 EXPENDITUREON Raisingfunds 900,068 900,068 553,670 Charitable activit188 Landscspes Queenswood site Engagement S10.541 711,965 1,222,506 745,620 21,389 201.196 169,049 28.267 197,316 Other 10 257,861 Total 1,579,658 740,232 2,319,890 1.779,736 Net gains/llossesl Dn investm8nts 111,5911 111,5911 24.227 NET INCOMEIIEXPENDITUREI Transfer$ be￿¢en fund$ Other recognlsed ¥aSn$lllo$$e$l Gains on revaluation of fixed assets 1142.9271 109.399 773,881 1109,3991 630,754 1162,1801 23 132,735 132,735 Net movemont in funds 133,5281 797.017 763,489 1162,1801 RECONCILIATION OF FUNDS Total funds brought fotward 244,122 4,004,454 4,248,576 4.410,756 TOTAL FUNDS CARRIED FORWARD 210,594 4,801,471 5.012,065 4,248,576 The notes forrn part of these financial statement5 27 11 March.202& 31.3.25 31.3.24 FIXED ASSETS Tangible assets Inv85tments 4.383,076 260,816 3.556,088 265.206 4.643.892 3,821.294 CURRENT ASSETS Stocks Debtors Investments Cash at bank and in hand 23.074 208,904 27,049 285,560 7.255 245.184 346,601 578,579 565,048 CREDITORS Amounts falling due within one ye8r 1210,4061 1137,7661 NET CURRENT ASSETS 368,173 427.282 TOTALASSETS LESS CURRENT LIABILITIES 5,012.065 4.248,576 NET ASSETS 5.012,065 4.248,576 FUNDS Unrestricted funds.. Gen8r81 fund R&strict8d funds.. Restricted 210,594 244.122 4.801,471 4,004,454 TOTAL FUNDS 5,012,065 4,248.576 The financial statements were approv8d by the 8tsaid of Trusiees and authorised lor issue on 28th SeP￿Mb￿r 2025 and were signed on its behalf by.. A McLe8n - Trustee The note5 form part of these financial statements 28 I￿.￿lo[0fO[d￿￿l[QV1lldlttelt 31.3.25 31.3.24 Notes FIXED ASSETS Tangible as5Bts Investments 15 16 4,382,629 260,915 3.556.088 265,206 4.643,545 3,821,294 CURRENT ASSETS Stocks Debtors Investments Cash at bank and In hand 27,049 285,560 7.255 245,184 18 19 199,857 284,913 484,770 565.048 CREDITORS Amounts f811ing du8 Wlthin one year 20 1116,6971 1137,7661 N￿cuRRENT AsS￿s 388.073 427,282 TOTAL ASSEYS LESS CURRENT LIABILITIES S,011,618 4,248,576 NET ASSETS 5.011,618 4.248,576 FUNDS 23 Unrestricted funds.. General fund Restricted funds.. Restricted 210,147 244,122 4,801,471 4,004,454 TOTAL FUNDS 5.011.618 4,248,576 The financi81 statements were approved by the Board of Trustees and authorised for issue on 28th SeP￿Mb￿r 2025 and were signed on Its behalf by.. A M¢Lean-Trustee The note5 form part of these financial 5tatement5 29 Ibe HorefordshirR Wildlif&IrllsLLfd 31.3.25 31.3.24 Notes cash flows from oporaiin8 a¢tlvltlg$ Cash generated from operations 842,634 1344,0421 Net cash provided by/lus8d inl op8r8ting 8Ctiviti88 842,634 1344,0421 Cash flows from investing a¢tlvltles Purchase of tangible fixed assets Purchase of fixed asset investments Sale of tangible fixed asset8 Sal8 of fix8d ass&t inv8Stm8nts Transfer of 8S8et8 121,1481 146,5751 1247.2551 375 248,179 55 1720,1241 Net cash used in investing activities 1741,2171 145,2761 Change bn cash and ¢*$h equSvalent$ In the reportlng pedod Cash and cash 8quivalents at th8 b8ginning of the reporting pariod 101.417 1389,3181 245,184 634,502 Cash and cash 8quival8nts at the ond of the reporting period 346,601 245.184 The notes form part of these financial statements 30 RECONCILIATION OF NET IN¢OMEI(EXPEND￿uREl TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.25 31.3.24 Nat Incomellexpenditurel forth8 raportlng p$rlod la¥ perthe Statement of Flnan¢lal A¢tivitiesl Adjustm8llts for: Depreciation ch8rg88 Lossesllg8inl on inve8tm8nts Profit on disposal of fixed assets Decrease/lin¢reasel In stocks D8crease/lin¢rea$el in debtors Increaselldecr8asel in Creditors 530,754 1162,1801 47,018 11,591 29,732 125,1511 137SI 15,4751 183,7091 196.8841 3,975 76,656 72.640 Net cash provlded byllused Inl operations 842,634 1344,0421 ANALYSISOFCHANGES IN NETFUNDS At 1.4.24 Cash flow At 31.3.25 Nat cash Cash at bank and in hand 245,184 101,417 346,601 245,184 101,417 346,601 Liquid resources Dep05it5 includ8d in cash Current a55et investments 7,255 17,2551 7,255 17,2551 252.439 94.162 346,601 The notes form part of these financial statements 31 usLLtd ¢Ltg.s io ttteFiDaDOl￿ AC¢OVNTING POLICIES Basis of pr8P8ring the flnancial statements The financial ststements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in a¢¢ordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practic8 applicable to charities prep8ring their accounts in ac¢ordan¢e with the Financi81 R8porting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021 leff8ctive l january 20191,, Finsncial Reporting Standard 102 'The Finan¢ial Reporting Standèrd 8ppIic8ble in the UK and Republic of Ireland. 3nd the Companies Act 2006. The financi81 statements have been prepared under the historical c05t convention, with the exception of investments which are included at market value. as rnodified bythe revalLJation of c&rtain 8ssets. Group Flnoncial Stataments The results of The Herefordshire Wildlife Trust and its Yrfholly owned subsi(Jiary Hereford Wildlife Enterprises Limited have been consolidated 2nd group accounts have been pr8sent&d. All transsction5 between th Ch8rity and its subsidiary have been eliminated on consolidation. A separate statement of financial a¢tivities and Income and expenditure account for th8 Charity itself are not presented because the Charity has taken advantage of the exemptions sfford8d by Section 408 of the Companles Aci 2006 and paragraph 397 of th8 SORP. Going concarn The bosrd of Trustees ¢onsid8r8d the status of the Trust as a going conc8rn in September 2025, Considering the 2024125 year-gnd results for unr8Strict8d 8nd restricted funds and the forecast for 2025126 and 2026127. Within this report we have reviewed the Trust's financial performance over the last year. the Igvfyl of reserves held, and the principal risks and uncertainties that we face. From a financial parspective, the Trustees consid8r that the charity remains well placed to manage these risks. Thi5 assertion is supported by.. its me(JiLJm-t8rm financial plan covering 2025128 snd 2026127 that is rEftsre¢ast on 8 quarterly basis 2n emb&dded ongoing stress testing of the financial plan which includes identification of critical 8dv8rs8 performance to enable early mitigation aciion to take place. a financial improvemeni pLan approved by the board of rru8t88s which forecasts the Trust to have signific8ntly enhynced Its total reserves by 21 March 2027 and for its C8sh and marketable investments to be at a level representing six to seven months of total annu81 expenditure. a positive relationship with our key funders and a provell ability to deliver our chariiable activities and seNices. The budget is approved by the Board of Trustees on an annual basis and perform8nc8 against budget 18 revi&wed 8nd reforeca5t tsn a quarterly basis. The 2025126 budget and 2026127 pL8n both sssume 5urplu8es will be delivered. As noted above. our financial plan to 2026127 for8ca8ts ih8t W8 will sustain a position above our minimum reserves figur& m8asur8d on the total liquidity b8sis. As detailed in our reserves policy and 8xplain8d here, we hold free res&rves to provide cover for unexpected changes in Income and expenditure and to allow LIS to adjust our cost base and continue activities. We will Continue to monitor the situation and manage our finanoes accordingly. The Trustees therefore ttave a reasonable expe¢tation that the ¢harity has adequate r850urce5 to continue in OP8r8tional existence for the foreseeable futur8, being at least 12 months from the d8t8 of approval of these financial statement$. Accordingly, the financial statements continue to be prepared on the going ¢on¢ern basis. 32 ACCOUNTING POLICIES- continued Incoma Incorne, including volLJntary incorne, grants and investtnent income, is recognised in the SOFA when the Charity becomes entitled to it, it is more likely than not thst the income will be received. and the monetèry value of the income cafi be estimated with sufficient a¢¢ura¢y. Entitlement to 18gacy income Is assumed when there is sufficient 8vidence that a gift has been left to the Charity, usually through th8 notification of a Will. Receipt of legacy income 18 deemed prob8b18 when there has been 8 gr8nt of probate. and it has been established that there are sufficient assets in the est8te to pay the legacy and there are no conditions 2ttached to the legacy that are outside the control of the Charity or uncertsinty around the receipt of the gift. Income from pe¢uniary legacies is recognised upon notific8tion or Revenue grants in r8SP&Ct of specific contracts are credited to th8 SOFA in th8 period in whi¢h the expenditure is incurred. Donated 5ervic85 and f8ciLitias Don8ted professional services and donat8d fa¢ilities are reeognised as income vvhen the charity h8s control tsvei the Item, any conditions associated with tha donated item have been met, the receipt of economic benefit from the use by the charity of the item is probabl8 and that economic benefit ¢an be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunt8er tim& is not r8cognised, refer to the trust88s' annu81 r8POrt for more information abouttheir contribution. On receipt, donated professional seNi¢es and donated facilities are recognised on the ba515 of the value 01 the gift to the charity which is the 8mount th8 ch8rity would have been willing to pay to obtain se￿Ice8 or facilities of equivalent èctrnomic benefit on the op8n m8rket- a ¢orresponding amount is then recognised in expenditure in th& period of feceipt. Expenditura Liabilitie8 are recognised 8s exp8ndirure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probabl8 that a rransfer of e¢onomi¢ benefits will be required in settlement and the afnount of the oblig8tion can be measured reliably. ExpenditLJre is a¢¢ounted for on an accru818 basis and has been ¢lJssified under headings that 8ggr8gat8 all cost related to the Eategory. Where costs ¢annot be directly attributed to Particular he8dings they have been allocated to activities on a ba81S consist8nt with the use of resources. Rai8ing fund8 Cost of generating fund5 ar8 those costs incurred In attracting voluntary incorne, and those incurred in trading activities th8t raise funds. Charitable activiti85 Expenditure on charitable activities includes th8 Costs of landscapes. oueenswood and engagement a¢tivities (Jndertaken to further the purposes of the charity 8nd th8ir associ8t8d support costs. Allocation and apportionment of ¢ost$ Support costs includ8 central functions and have beeri 8IIoc8tèd to activity cost C8t8gori88 on 8 basis consistent with the use of resour¢es. 33 AC¢OUNnNG POLICIES-continu8d Tangibla fixed assets Fixed 855ets, other than land and property, Ere stated gt original cost or, if donated, the value at date ol receipt. FRS102 r8quires that provision b& rnade for depreciation of fixed assets having a finite useful life. However, the Trustees are of the opinion that the residu81 value at the end of the estimated useful lite of the nature re5erve5 and freehold propertie5 are not likely to materi8lly differ from its cost. This is because it is the Charity's policy to maintain the nature reserves and freehold properties In such a condition that their value is not diminishÈd by the passagÈ of rime,. the relÈvant expÈnditure is charged against income in the fin8ncial p&riod in which it is incurred. Ther8for8, any 8lem8nt of depr8ciation is consid&r8d to b8 immat8ri818nd no provision is made. Leasehold assets are depreciated 012% and 20%. Vehicles and computer equipment are depreciated at 25% per annum, plant and 8quipm8nt at 15% and fixtures and fittings at l 0% and 20%, so to write off th8 Cost 18ss r8sidu81 v81u8 OV8r their 8XP8Ct8d u88ful (ives. Items costing under £1,000 in the ch8rit8bl8 company ar8 not capitslised. Taxation The charity is exemptfrom corporation tax on its Charitatile aciivities. Fund aecounting Unrgstrictad Funds The genersl fund represent5 unrestricted funds available for use at the cliscretion of the trustees in furthersnce ofthe general objectives of the charity and which have not been designated for other purp05ES. Dèslgnated Funds Designaied funds are unrestricted general funds earmark&d by the trustees for particular purposes. Restricted Funds Restricted fund5 are to be used in accordance with Specific restrictions imposed by donors or which have been raised by the charity for psrticular purposes. The costs of administering and raising such funds are charged againstthe specifi¢ fund to which they relate. Penslon cost8 and oth8r post-ratir8ment benefit8 Th8 Ch8rity operates a d8fin8d contribution Pension 8ch8m8. Contributions are charged as they becorne payab18 in accordance with th8 rules of th& 8chem8. Investments Investments sre valued at mid-market price at the balance sheet date. Realised investment gainsllosses represent the differences on sale of Investments beiween the pro¢egd$ on sale and th8 op8ning market value 8nd/or cost of 8dditions in the p8riod. Unr8alis8d investment gainsllosses represent the differences be￿￿en th8 closing market Value and the opening market Value andlor c05t of additions in the period. Stocks Stocks are valued at th8 lower of cost and net realisable value, after msking due gllowancg for obsolete and slow moving items. ACCOUNTING POLICIES- ¢ontlnued Debtors Trade and other debtors are recognised at the s8ttlement amount due after any discount offered. Prepayments are valued at the amourit prepaid net of any discounts du8. C8sh at bank and in hand Cash at bank and c8sh in hand inclLJd8s cash and short term highly liouid investments with 8 short maturity of three months or less from the d8te of 8CqUlSltion or opening of the deposit or similar account. Crediiors and provi$itsns Cre(Jitors and provisions are recogni5ed wh8r8 the charity has a pr8s8nt obligation resulting from a past event that will probably result In the tran5fef of funds to a third party 8nd the 8mount du8 to settle the obligation Can be measLJred Of estimated relisbly. Creditor5 and provisions are normally r8cognised at Iheir Settlement amount 8fter allowingfor anytrade dis¢ounts due. Hire purchase ond leasing commitment8 Rentals paid under operating leases are ch8rged to the SOFA 88 incurr8d. Joint Vanture$ Th8 above are recognised under the equity methoLI, on initial recognition the investment in a joint ventLJre is recogni5ed at cost. and th8 carrying 8mount 1$ increased or decreased to recognise the investor's Shar8 of the profit or loss of the investee after the dat8 of acquisition. The investor's share of the investee's profit or loss is re¢ognised in the investor's profit or loss. DONATIONSAND LEGACIES 31.3.25 Total fund5 31.3.24 Total funds Unrestricted funds Restricted funds Donations Profit from trading subsidiary Gift aid L8gaci&s Donated services and facilities Membership 52,398 31,435 83,833 88.239 67,410 4,649 11,7421 289,676 67.410 4.649 718,222 289,676 59,179 188,780 719.964 247,592 412,291 751,399 1.183,790 583,790 OTHER TRADING ACTIVITIES 31.3.25 Tot81 funds 31.3.24 Total fund$ Ullrestricled funds Restricted funds Herefordshire wildl￿fe Enterprises Fundraising Shop sales Consultancy sales Timber sale5 619,145 24,204 105,208 2.326 3,815 619,145 24.204 105.208 17,314 3.815 5,699 198,376 8,988 10,989 14,988 754.698 14,988 754,686 224,052 35 otes.tothe.FinaDOi&LStataments.sontir￿ INVESTMENTINCOME 31.3.25 Total fLsnds 31.3.24 Total funds Unr8Strict8d funds Restrict&d funds Investment In¢ome 7,975 7,975 12.783 INCOME FROM CHARITABLE ACTIVITIES 31.3.25 Total activities 31.3.24 Total activities Landscèpes Engagement Proj8Ct grants and sponsorship 939,164 76,096 1.015,260 fj48,655 OTHERINCOME 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Restricted funds Gain on sale of tangible fixed assets Oth8r Incom8 Income r8L8ting to joint V8ntures IQWBLI 375 2.380 121,313 5.524 5,524 5,524 5,524 124,048 RAISING FUNDS Raising donations and leg8CleS 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Restricted funds Staff costs Travel and volunteer expenses Fundraising. mark8ting and app881 c03ts Support costs 72,286 346 131,544 86,606 72,286 346 131,544 86.606 82,881 635 132.260 111,921 290,782 290,782 327,597 Othar tr8dingactlviti8s Her8fordshir8 Wildlif8 Enterprises Purchases Staff c08t5 Shop expenses Support costs 589,774 11,051 1.157 7,015 289 589,774 11,051 1,157 7,015 289 54,492 60,229 50,065 61,287 609,286 609,286 226,073 Aggregate amounts 900,068 900.068 553,670 36 CHARITABLE ACTIVITIES COSTS Support costs (see not& 91 Dira¢t Costs Toials Lan(Jscapes Engagement 1,033,231 109,247 189,275 88,069 1.222,506 197,316 1,142,478 277,344 1,419,822 SUPPORT COSTS Raising donations and legacies Other trading aciivities Landscape5 Engagement 86,606 289 189,275 88,069 364,239 10. OTHER 31.3.25 Total funds 31.3.24 Total funds Unreslricted funds Restricted funds Irrecoverable debt provision on New Leaf's share of Queenswood Expenditure relating to joint ventures 60.949 IQWBLI Support costs 196,912 288,684 306,758 57,481 364.239 306,758 57,481 364,239 546,525 11. NET INCOMEIIEXPENDITUREI Consolidated Net incomellexpenditurel Is slated after charging/lcreditingl'. 31.3.25 31.3.24 Depreciation- own&d 8SS&ts Surplus on dispos81 of fixed 8SSets Auditors audit f8e Operating18ases Goinslllo55esl on investments 47,018 29,732 13751 11,395 13.144 25,151 15.865 13,912 111,5911 37 12. TRUSTEES, REMUNERATIONAND BENEFITS Trustees. received no remuneration or other benefits for th8 year 8nd8d 31 March 2025 nor forthe year ended 31 M8rch 2024. Tru$tees' expenses Duringthe y88r on8 trust8812024.' on81 were reimbur58d for 8xpens8S totalling È27012024.. È3291. 13. STAFF COSTS Charity 31.3.25 31.3.24 Wages and sal8ri88 Socisl security costs Other pension costs 773.269 71.451 36,650 706.918 61,935 32,628 881,370 801,481 Group 31.3.25 31.3.24 Wages and salaries Social security costs Other pension costs 1.040.948 89,412 48,942 706,918 61,935 32,628 1,179,302 801,481 The charit8bl& group operates a defined contribution p8nsion scheme. The pension cost represents contributions payable by the charitable company and amounted to £48,94212024.. E38,0301. The key management personnel of the Trust, eomprise the Chief Executive, Head of Nature Recovery Manager. Head of Action lor Nature, Head of Commercial. Operations Manager and the Head of Finance. The total amount of employee ben8fit8 of the key m8nagem&nt personnel of the trust was £289.632 12024.. £190,969). The 8v&rage rnonth(y number of employee5 duringthe ye8r was as follows= 31.3.25 53 31.3.24 50 Average Employees The number of employee5 whose employee benefits lexcluding employer pension cost51 exceeded £60,000 wss.. 31.3.25 31.3.24 £60,001 - £70,000 38 14. COMPARATIVES FOR THE CHARITY STATEMENT OF FINAN¢IAL ACTIVITIES UnrestricteLt funds Restrieted funds Total funds INCOMEAND ENDOWMENTS FROM Donations and leg8ci8S 527,910 55,880 583.790 Charitable activiti83 Landscapes Eng8g8ment 126.578 73,366 403,113 45,599 529,691 118,965 Other trading activities Investment income Other in¢ome 223,997 12.783 2,735 55 224,052 12,783 124.048 121,313 Total 967,369 625,960 1.593.329 EXPENDITUREON Rsisingfunds 553,670 553,670 Charltable actTrvit188 Landscapes Qu88nswood sile Engagement Other- to b8 split out 326.106 419,514 21,389 95,206 745,620 21,389 201,196 105,990 Other 60,949 196.912 257,861 Total 1,046.715 733,021 1,779.736 Net gains on investments 24.227 24.227 N￿INcomE11EXpENDITUAEj 155,1191 168,0331 1107,0611 68,033 1162,1801 Transfers between funds Net movement in funds 1123,1521 139,0281 1162,1801 RECONCILIATION OF FUNDS Total funds brought forward 367.271 4,043.485 4.410,756 TOTAL FUNDSCARRIED FORWARD 244,119 4,004,457 4.248,576 The above relates to the y8ar ended 31 March 2024. 39 foLthoXQ￿￿.I. MAr.ch 2025 15. TANGIBLE FIXED ASSErs Group and Chairiy Share of Leasehold land and buildings V8nture fixed 85sets lfflprovement to Freehold property property COST OR VALUATION At 1 April 2024 Additions RevalLJations Transf&r to ownership 2,678,044 4,750 883.039 126,426 132,735 1.703,984 1883,0391 At 31 M8rch 2025 2,678.044 1.841.469 126,426 DEPRECIATION At 1 April 2024 Charge for year Transfer to ownership 4,750 34,080 272,640 162.281 1162,2811 At 31 March 2025 311,470 NET 800K VALUE At 31 March 2025 2.678.044 1.529,999 126,426 At 31 March 2024 2,678,044 720,758 126,426 Fixtur8S 8lld fittings Plant and ma¢hin8ry Motor vehicles Computer equipment Totals COST OR VALUATION At 1 April 2024 Additions Revaluations Transfer to ownership 101,561 21,148 31,916 84,490 49,174 2.959,400 21,148 132.735 877.394 3.000 49,720 3.729 At 31 March 2025 125,709 81,636 84,490 52,903 4,990,677 DEPRECIATION At 1 April 2024 Charg8 for year Transfer to ownership 81,093 7,687 2.279 21,524 5,251 40,904 84,490 49,174 403,312 47,018 157,271 3,729 At 31 March 2025 91,059 67,679 84,490 52,903 607,601 NETBOOKVALUE At 31 March 2025 34,650 13,957 4,383,076 At 31 M8rch 2024 20,468 10,392 3,556,088 15. TANGIBLE FIXED ASSETS- continued Cost or valuation at 31 March 2025 is represented by.. Leasehold land and buildings Improvements to property Freehold property Plant and machinery Valuation in 2025 Cost 1,841,469 2,678.044 126,426 125.709 2,678,044 1,841,469 126.426 125,709 Fixtures and Mottsr véhicles Computer equipment Totals Valuation in 2025 Cost 1,841,469 3,149,208 81.636 84,490 52,903 81,636 84,490 52.903 4,990,677 Included In plant snd machinery net bookvalue Is £447 of 8SS8ts relating to the H6reftsrd5hire Wildlife Enterprises. 18. FIXED ASSET INVESTMENTS Group and Chalrty Shares in group und8rt8kings Listed investrnents Totals MARKET VALUE At l April 2024 Additions Disposals Revaluations 55 265.151 7,255 265.206 7.255 1551 111,5901 1551 111.5901 At 31 March 2025 260.816 260,916 NET BOOKVALUE At 31 March 2025 260,816 260,816 At 31 Mar¢h 2024 55 265,151 265,206 There were no inv8Stm8nt assets outside ihe UK. They charity only b81ance sheet includes £100 for share capital in relation to the trading subsidiary which has been eliminated on consolid8tion. 41 to[1t￿y￿a￿A￿LMarch 2025 FIXED ASSET INVESTMENTS- ¢ontlnu*d Cost orvaluation at 31 March 2025 is represented by.. Shares in group undertakings Listed Investment$ Totals VgIu8tion in 202S Cost 260,816 260,816 260,816 260,816 The company's investm8ntS 8tthe balance sheet dale in the share capital of companies include the following.. Subsidiary Herefordshlre WlldLlte Ent¥rpri8es Limitod Registered office: Nature of business.. retail Clas5 of share.. Ordinary holding 100 31.3.25 31.3.24 Aggregate capit81 and reserves Profitfor the year 547 447 The Charity has a wholly owned trading subsidiary. which Is incorporareij on 8th April 2024. in the United Kingdom. The principal activity of Herefordshire Wildlife Ent8rpri88s Limit8d is that of retail and catering sal&s. The Company covenant5 It5 taxable profits to The H8r8fordshire Wildlife Trust. A summary of trading results is shown below. Audited ae¢ounts are fi18d with the Registrar of Companies. 31.3.2025 Turnover Cost of sales 58S,912 1462.1131 Gross Profit 123,799 Administrative expenses 1156,5851 Other operatin8 income 33,233 Prtsyli lorthe Iln0nclaL p8rlod 447 Profit covenanted to parent 28,924 42 16. FIXED ASSET INVESTMENTS- ¢ontlnu¥d JoFnt ventures Queenswood and Bodenham Lake C.l.C Registered office.. Queenswood Country Park, Dinmore Hill. Leominst&r, Herefordshire, England, HR6 OPY Nature of bu8ines$.. Consetwation Class of share.. Ordinary holding 55 31.3.25 31.3.24 Aggregate Capital and ¥e5erve5 55 The investment figure in the Company Bal8nce Sheet also includes £Nil 12023.. £551 which is the nomingl Value of the shares held in Queenswood 8nd Bodenham Lake C.l.C Ico No 102268881. Queenswood and Bodenham Lake C.l.C has remained dorm8nt sinc8 incorporation. Queeriswood and 8odenham Lake C.l.C wos dissolved oll 27th August 2024. Qua8nswood Partnorship Agre8ment Registered office.. NIA- no separate leg81 entity Nature of busines8.' Conservation The Herefordshire Wildlife Trust Limited was In a joint venture arrangement with N&w Leaf Sust8inabl8 DevelDpm8nt Limited io manage and run the operations at Queenswood arid Bodenham Lake. This P8rtnership w8s dissolved or) 25.03.24 and on 01.04.2024 all 8$$ets and liabilities of the partnership has been transferred into the ownership of HWT. There was no separste lègal entity for thi5 jOINt ventur8, 811 oper8tions ar8 8dminist8r8d through the Herefordshire WilLllife Trusl. The Herefordshire Wildlife Trust had a 55% share of the pErtnership agreement, which was entered into on 16th May 2016. which exception of the lease of the sit8 whi¢h. Irt recognition of the joint and several liability of the Trust and New Leaf as the lessees, w88 treated as being held in 50".50 proportion. In 2023124, the Herefordshire Wildlife Trust's 55% Share of incom8, exp8nditur8, assets and liabilities has been recorded in the financial statement5. From 2024125 onwards, all incom&, expenditure. ass8ts and liabilities are recognised within Hwf financial statements. 43 otes 16. FIXED ASSET INVESTMENTS- continuad The r88PeCtive shares of the partners In the jointventure were as follows.. 2024125 Total 2023124 Total Hwr NL HI NL Fund broughtforward Income Expenditure 121,310 99,254 220,564 1196,9111 1160,2081 1357,1991 In year deficit 175,6011 160.9491 1136,5501 Transfer of NL Share of deficit to Hwt 160,9491 60,949 Deficit supported by Hwt uniestri¢t8d funds 136,550 136,550 Balan¢8 ¢arri8d forward The carry fonNard deficit at 31.3.2024 was supported frorn the charity's unrestricted funds, the bregkdown is shown in th8 table below.. 2024125 2023124 New Leaf's share of deficit- Provided in SOFA ss an Irrecoverable unr88tricted funds Hwf shar8 of deficit- Overdrawn fund tr8n5fefred from restrict8d to unrestricted fund818ee note 211 NIA 160,9491 NIA 175,6011 Tot81 in year reduction of unrestricted funds from joint venture deficit5 NIA 1136,5501 17. STOCKS Group 31.3.25 31.3.24 Finished goods 23,074 27,049 18. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Charlty 31.3.25 31.3.24 Trade debtors Amounts owed by group undert8kings Amounts owed by participating interests Orher (Jebttsrs Shar& of joint ventures current asseis 77,760 1,352 23.933 6,899 21.652 12.154 18,715 197,200 5,007 75,252 VAT 1.606 40,729 3,158 Accru&d income Prep8ym8nts 199.857 285,560 Group 31.3.25 31.3.24 Trade debtors Amoullt5 owed by group undertakings Amounts owed by participating interests Other debtors Share ofjoini ventures current asset$ 86,607 23,933 6.899 21,652 12.154 18,715 197,200 5,007 75,252 VAT Accrued incom8 Prepayrnents 40.729 6.316 208.904 285,560 19. CURRENT ASSET INVESTMENTS Group and Charity 31.3.25 31.3.24 Unlisted investments 7,255 20. CREDITORS-AMOUNTS FALL5NG DUEWITHIN ONE YEAR Chailty 31.3.25 31.3.24 Trade creditors Other creditors Share of joint ventures eurrent liabilities Accrued expenses 94,727 1,325 109,887 1,195 14,284 12.400 20.645 116,697 137,766 45 Note 1aLob 2025 20. CREDITORS:AMOUNTSFALLING DUEWITHIN ONEYEAR -continutrd Group 31.3.25 31.3.24 Tracle ¢reditors VAT Oth8r creditors Share of joint ventures CLJrr8nt liabilit188 Accruecl expenses 99,052 86,329 1,325 109,887 1,195 14.284 12,400 23,700 210,406 137,766 Deferred in¢om& 31.3.25 31.3.24 D8f8rr8d income at 1 April Resourc8s deferred in the year Amount8 released trom previous year 15,817 115,8171 Def8rred income related to yant funding. 21. LEASINGAGREEMENTS Minimum lease payrnents under non-cancellable op8rating leases fall due as follows= 31.3.25 31.3.24 Within one year Between one and five years 13,912 29,863 13,912 35,615 43,77S 49,527 22. ANALYSISOFNET ASSETS BEtWEEN FUNDS 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Restricted funds Fixed ass8tS Investments Current assets Current liobitities 24,035 260,816 136.149 1210,4061 4,359.041 4,383,076 260.816 578.579 1210.4061 3,556,088 265.206 565,048 1137,7661 442,430 210,594 4,801,471 5.012,065 4,248,576 46 23. MOVEMENTIN FUNDS Net movemellt in fund5 Transfers be￿feen funds At 31.3.25 At 1.4.24 Unrestricted fund8 Generalfund 244,122 1142,9271 109,399 210,594 Restrletod funds Restricted 4.004,454 906.416 1109,3991 4,801,471 TOTALFUNDS 4.248,576 763,489 5,012,065 Net mOV8ment in funds, included in the above are as follow$'. Incoming resources Resour¢es 8XP8ndad Gains and losses Movement in fund8 Unie$trl¢ted funds Gen8ral fund 1.448.322 11,579,6581 111.5911 1142,9271 Restricted funds Restricted 1.513,913 1740.2321 132,735 906.416 TOTALFUNDS 2.962,235 12,319.8901 121.144 763,042 Comparatives for movemgnt in funds Net movemelll in funds Transfer$ between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 367,271 155,1161 168,0331 244,122 R0$tri¢ted fund5 Restricted 4,043,485 1107,0641 68,033 4,004,454 TOTAL FIJNDS 4,410,756 1162,1801 4,248,576 47 ote8 tolb 23. MOVEMENTIN FUNDS-continued Comp8r8tive net movement funds, included in the 8tsove are os follows- Incoming resources Resources expended Gains and losses Movement in funds Unrestricted fund General fund 967,370 11,046,713) 24,227 155,1161 Ra$trirt$d fund$ Restricted 625,959 1733,0231 1107,0641 TOTAL FUNDS 1.593,329 11,779,7361 24,227 1162,1801 Gains ILoss8s and transfer$ Opening Balance Incoming Outgoing Re$our¢es Re$ouvGe$ Closing Balan¢e R8Stricted Fund8181 Fixed Assets Nature Reserves Ibl Queenswood and Bodenh8m Lake Icl Other tangible assets 2,818.780 13,5021 2.815,278 730,713 1,845 719,964 139.7371 11,7571 132,735 1.543.675 88 3,551,338 719,964 144.9961 132,735 4.359.041 Net Current Assats Engagement Nsture 8Ction Nsture recovery 16,912 47,443 14.7081 751.214 113,7311 143.6301 4,708 170,4771 6,994 436,204 1681,5051 435.436 453.116 793,949 1695,2361 1109,3991 442,430 Total Restricted Fund5 4,004,456 1.513,913 1740,2321 23,336 4,801,471 Fixed assets Current assets 4,750 239,372 11,8831 1.448,322 11.577,7951 21,148 76,660 24,035 186,559 Total Unr¥gtrlcted Funds 244,122 1.448,322 11.579,6581 97,808 210,594 Total Fund$ Charlty 4,248,576 2.962,235 12,319,890> 121,144 5.012,065 The above table details all restricted funds by purpose. 48 23. MOVEMENT IN FUNDS-continued Certain of H￿'S natur8 rèsetves have been acqLtired by way of gift or legacy and th8r8by have been bequeathed to be used in aceordan¢e with any wishes indicated by the donor5 or their representatives. Where this is the case, both the capital and income represented by these reserves may orily be appli8d for the purposes fof which the re8erv8s were donated. Notwithstanding this, historically all HWT'S natur8 r888rves hav8 be8n ¢l8ssified as re8tricted, and this classification has been retained in these accounts. Transfers belwaen funds During the yearthe following transfers between funds have be8n made. Unre$trl¢ted Restricted Movement betrNeen proje¢is 1109.3991 109,399 1109,3991 109,399 24. RELATED PARTY DISCLOSURES The Trust IS 8ffiliated to The Royal Soeiety ot Wildlife Trusts (R$M￿l, a registered Charity that acts as an umbrella group for county wildlife trusts. and provides 8881Stance and ¢o-ordinstioll of activities and campaigning at a UK level. An 8nnual ¢ontributiofj is payable to Rswt. included within Charitable Expenditure. amounting to £11,01912024.. £9,670>. The Trust 81so purchased publications and other sundri8s from th8 Rs￿ amounting to E16,43712024.. £12,209). The trust also mad8 sale8 to Rs￿ 01 £5,54012024.. É8,4511. At the yeirend there was a balance of £73912024.. £9321 due to RS￿. 25. ULTIMATE CONTROLLING PARTY The charity is jointly ¢ontrotled bythe Trustees. 49 202 Herefordshire Wildlife Trusts is part ol o movement made up of 46 Wilijlife Trusts and a Central charity Ithe Royal Society of WildlifeTrustsl. Each is an independent charitywith a shared mission. Help us achieve our vision of 8 wild8r H8refordshire.' more nature. everywhere Join us as a m8mber R8m8mb8r us in your will Sp&ak up for wildlife Volunteer yourtime Partner with us Find oui more at www.h&retordth Get in touch... enquirie5@herefotd&ti 01432 356872 50 Dele 31.3.25 31.3.24 INCOMEAND ENDOWMENTS Donations and 1è8acl8s Donations Profit from tr&ding subsidiary Gift aid Legacies Donated servi¢es and facilities Memb&rship 83,833 88,239 67.410 4,649 718,222 289,676 59,179 188,780 247,592 1,163,790 583.790 Other trading activili88 Herefordshire Wildlif8 Ent8rprises Fundr8ising Shop sales Consultancy sales Timber sales 619,145 24,204 105,208 17,314 3,815 5,699 198,376 8,988 10,989 754,686 224.052 Inve8tment income Investm8nt Income 7.975 12.783 Charltable actlvitie5 Project grant$ and sponsorship 1,015.260 648.656 Oth8r incoma Gsin on sale of t8ngibl8 fixed assets Other Income Income relatingtojoint ventures lQueenswoodl 375 2,360 121,313 5.524 5,524 124,048 Total incorning resources 2,962,235 1.593.329 EXPENDIYURE Raising donations and lega¢le$ Wages Social security Pensions T¥avel and volunteer expens8S Fundraising, marketing and appeal costs 62,901 5,820 3,565 346 131,544 72.970 6,312 3,599 635 132,160 204,176 215,676 Other trading activitie5 Herefordshire Wildlife Enterprises Shop pur¢hases Wages Social security Pellsions Shop expenses 589,774 11,051 1,000 107 50 7.015 54.492 55,416 2.606 2.207 50,065 608,997 164,786 51 31.3.25 31.3.24 Charltable aciivltlos W88es Soci21 security Pensions Travel Office costs Training and Education Vehicle and equipment costs Sundry Legal anct professional fees Reserves and landscapes management costs Project Based Consultancy Long leasehold Plant and machinery Fixtures and fittings Motor vehicles 530,929 46.058 23,979 9,989 53,615 17,721 29.549 28,231 2,888 351,304 1,499 34,080 7.386 5.250 406,477 33,380 17.559 9.273 38,431 12,590 8,575 12,981 6,438 269,333 8,320 17,040 8,981 109 3,282 1,142,478 852,749 Other Irrecoverable debt provision on New Laaf'$ share of QLJeenswood Expenditure relatingto joint ventures IQu8enswoodl 60.949 196,912 257,861 Supptsrt ¢o$t$ Manag$ment Wag8S Social security Pensions Office costs Tr£ining and Education VÈhi¢le and equipment costs Tr2vel Central cost r8charg8 Legal and profe55ional 178,439 19,466 9,056 125,913 1,027 5,256 53 5,814 19,405 172,055 19,637 9,263 105,399 7,981 16.212 947 160,6871 17,837 364,239 288,664 Total r88ources expended 2,319,890 1,779.736 Net income/lexpenditur¢l 642,345 1186.4071 52