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2022-03-31-accounts

ANNUAL REPORT AND ACCOUNTS 2021-22 /￿-."

STRATEGIC REPORT . 5
More space for nature 6
A movement
for nature		 .8
Telling Somerset's story 10
Developing
our charity		 12
Financial
review
.		 .14

STRUCTURE, GOVERNANCE
AND MANAGEMENT		 STRUCTURE, GOVERNANCE
AND MANAGEMENT		 20
STATEMENT OF TRUSTEES' RESPONSIBILITIES 24
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SOMERSET WILDLIFE TRUST . 25
FINANCIAL STATEMENTS 28
Consolidated
statement
offinancial activities		 29
Consolidated
and Trust balance sheets as at 31March 2022		 30
Consolidated
statement
ofcash flows for the		 year ended 31March 2022 . 31
Notes forming part ofthe financial statements forthe year ended 31March 2022 . . 33
GIFTS AND DONATIONS 50
KEY PEOPLE AND ADVISERS 51

For nature to recover we need more people taking action for nature, a critical mass of at least one in four to tip the balance in nature s favour.

~ Donations
appeals		 and 2,052 913 125
Grants 1,613 1,260 28
~ Membership 835 757 10
Legacies 637 202 215
~ First Ecology 571 473 21
Data Services and
SLAs		 168 124 35
Other 123 44 180
Other fundraising
activities		 55 36 53
~ Investment
income		 17 13 31
~ Charitable
activities		 2,261 1,689 34
First Ecology 552 441 25
~ Membership
recruitment		 288 187 54
Raising funds 250 228 10
More space for
~ nature
—nature		 866 798 9
reserves
A movement
nature		 for 697 475 47
More space for
nature
—nature		 515 260 98
recovery
Telling
Somerset's		 story 183 155 18

It is only by gathering evidence of the abundance and diversity of wildlife and habitat condition that we will be able to make the best decisions for nature's recovery.

*1 With nature and the climate in crisis. we made a commitment in ournew strategy to be bold and act quickly.

FINANCIAL STATEMENTS IJ We grew in 2021-22 to support our ambitious plans and refocussed. our work to match ourgoals.

income from:
Donations
and legacies		 2 981,112 237,304 2,306,530 3,524,946 1,871,246
Charitable
activities:
More space for nature —nature recovery 99,652 610.002 709,654 164,407
More space for nature —nature reserves 490.077 248.910 738.987 626.881
A movement for nature 1,300 264,410 265,710 415,105
Telling Somerset's story 167,623 20,196 187,819 126,664
Other trading activities (including First Ecology) 4 626.663 626.663 509,555
Investments 17.332 17.332 13.496
Other income 95,265
Expenditure on:
Raising funds (including First Ecology] 7 1,089,564 1,089,564 856,350
Charitable
activities:
More space for nature —nature recovery 7 97.737 416.858 514.595 260.496
More space for nature —nature reserves 7 519,859 2 346,359 866,220 798,341
A movement for nature 7 363.134 334,007 697,141 475,089
Telling Somerset's story 7 162,816 20,196 183.012 154,S46
Net gain/(loss) on investments 34,344 34.344 183.097
Transfers between funds 21 (163.064) 558.421 (1.539.682) 1.144.325
Reconciliation offunds
Fund balances brought forward at 1April 2021 1.180.022 3.512.684 593.242 1.741.433 7.027.381 5.566.487

Fixed assets
Tangible assets 12 1.256.804 847.651 1.231.934 832.560
Heritage assets 12 4.272.386 3128.562 4.272.386 3.128.562
Investments 13 935,695 908,540 935,698 908,543
6.464.885 4.884.753 6.440.018 4,869,665
Current assets
Stock 14 1.329 1.690 1.329 1.690
Debtors 15 1.099.864 685.603 1.127.960 698.147
Deposit accounts 2.153.802 1.802.732 2.153.802 1.802.732
Cash at bank and in hand 967.220 346.515 956.063 333.459
4.222.215 2.836.540 4.239154 2.836,028
Liabilities
Creditors: amounts falling due within one year 16 615,977 248,493 608,204 233,048
Net current assets 3r606,238 2,588,047 3r630,950 2602,980
Total assets less current liabilities 10,071,123 7,472,800 10,070,968 7,472645
Provisions for liabilities 17 288.819 445.419 288.819 445.419
Thefunds ofthe charity
Endowment
funds		 2,885,758 1,741,433 2,885,758 1,741,433
Restricted funds 1,386,188 593,242 1,386.188 593.242
Designated
funds		 4,308,407 3,512,684 4,308,407 3,512,684
Unrestricted
funds		 1,201,951 1.180,022 1,201,796 1,179.867
Cash ffows from operating activities
Net cash provided
by operating
activities		 25 2,54',261 1,101,245
Cash
ow from investing activities
Dividends,
interest and rental income		 17.332 13.496
Proceeds from the sale ofproperty,
plant and equipment		 35,000
Purchase ofproperty,
plant and equipment		 (1,634.007) (155.886)
Proceeds from sale of investments 96.684 139,039
Purchase of investments (101.599) (150.978)
Net cash used in investing activities (1,586,590) (154,329)
Cash and cash equivalents
at the beginning		 ofthe reporting period 2.172.425 1.225.509

There is now a r41 opportunity to better align nature. food production and sustainable livelihoods that will benefit us all.

Membership' Membership' 835,332 835,332 756,831 756,831
Donations and appeals 145.780 1,906,530 2.052,310 775.314 137.369 912,683
Legacies 237.304 400.000 637.304 196.732 5.000 201.732

More space fornature - nature recovery More space fornature - nature recovery
Natural
England		 29,331 29,331 12,732 12,732
Statutory
body grants		 93.923 93.923 30.715 30.715
Othergrants 486,748 486.748 101.881 101.881
Consultancy
fees		 99,652 99,652 19,079 19,079
99,652 610,002 709,654 19,079 145,328 164,407
More space fornature - nature reserves
DEFRA 469,823 469,823 411,269 411,269
Statutory
body grants		 76,577 76,577 4,150 4,150
Landfill tax credit scheme 35,705 35,705 65.422 65,422
Othergrants 136.628 136.628 121.078 121.078
Grazing licences and property lettings 15,709 15,709 14,506 14,506
Wood and firewood sales 4,545 4,545 10,456 10,456
490,077 248,910 738,987 436,231 190,650 ege,ssf
Amovement fornature
Education
provision		 1.300 1.300
Statutory
body grants		 68,333 68,333 5,000 120,478 125,478
Other grants 196,077 196,077 289,627 289.627
1,300 264,410 265,710 5,000 410,105 415,105
Telling Somerset's story
Statutory
body grants		 4,000 4,000 200 200
Othergrants 16.196 16.196 1.997 1.997
Service level agreements 82.625 82,625 78,861 78.861
Data services 65.247 65,247 43,336 43.336
Sales income 19.751 19.751 2,270 2.270
167,623 20,196 187,819 124,467 2,197 126,664

Shop sales 2,345 2,345 2.433 2,433
Fundraising
events		 16,142 16.142 3.270 3.270
Other fundraising activities 36.853 36.853 30,586 30.586
First Ecology 571,323 571,323 473,266 473,266

Dividends
receivable
from equity shares		 15.393 15.393 11.778 11.778
Interest receivable from investment
funds		 934 934
Interest receivable from bank and deposit accounts 1,939 1,939 784 784

Expenditure on raising funds
Cost ofraising funds 186,906 53,832 240.738 167,660 49,829 217,489
Membership recruitment and retention 260,080 27,426 287.506 156,310 30.396 186,706
Merchandising costs 1.713 1,713 2,094 2,094
Investment
management		 fees 7.915 7,915 8,838 8.838
First Ecology 447,781 103,911 551,692 343,481 97,742 441,223
904,395 185,169 1,089,564 678,383 177,967 856,350
Charitable activities
More space for nature - nature recovery 447,010 67,585 514,595 204,616 55,880 260,496
Mores space for nature - nature reserves 764,085 102,135 866.220 701.702 96,639 798.341
A movement for nature 545.306 151.835 697.141 339.077 136.012 475.089
Telling Somerset's story 145,309 37,703 183,012 116,707 37,839 154,546
1,901,710 359,258
2,260,968		 1,362,102 326,370
1,688,472
upport cost breakdown by activity
Finance 7,558 1,758
20,388		 13.570 20,085 21,038 7,397
91.794		 90,530
HR/staff support 3.399 791 9.169 e.toe 9.035 9.465 3.326
41.291		 28.822
Office costs 7,281 1,694
19,638		 13,069 19,345 20,268 7124
88,419		 82,541
Property and
vehicles		 motor 4,701 1,093
12,687		 8,444 12,499 13,097 4,605
57,126		 50,657
Recoverable VAT (3,155) (1.577) (9.464) (1.577) (15.773) (34r638)
Marketing 18,781 18,540 848 564 10,069 47,043 308
96,153		 106,758
Information
technology		 5,811 1.351
15.673		 10.432 15.439 16,176 5,687
70,569		 62.002
National
and
support		 regional 3,612 840 9,743 6,485 9,598 10,056 3,535
43,869		 46,136
Insurance 560 130 1.510 1.005 1.488 1.558 548
6.799		 5.147
Governance 5,284 1,229
14,255		 9,487 14,041 14,711 5,173
64,180		 66,382

Depreciation 81.030 65,084
Auditors'
remuneration
Audit fees —current auditor 12.450 14.392
Audit fees —previous auditor (1,749)
Taxation compliance —current auditor 330 1,110
(Profit) on disposal offixed assets (35.000)

Wages and salaries 1,666,840 1,378,719
Social security costs 149.040 120,687
Pension costs 111.254 92.927
Charitable activities 58 49
Raising funds 10
Governance

Reimbursement
ofTrustees' travel and
subsistence costs		 969
Donations received from Trustees 1.389 1.053

Cost
At1April 2021 3.128,562 103,946 739,830 398,782 164.024 197,752 4.732,896
Additions 1.143.824 395.858 35.820 58,505 1434.007
Disposals
At31March 2022 4,272,386 103,946 1,135,688 434,602 164,024 256,257 6,366,903
Depreciation
AtlApril2021 103.760 105.922 287.721 115.106 144.174 756.683
Charge forthe year 22.803 20.161 12,234 25.830 81.030
Disposals
At31Mareh 2022 103,762 128,725 307,882 127,340 170,004 837,713
Net book value
At31March 2021 3,128,562 186 633,908 111,061 48,918 53,578 3,976,213
Charity
Cost
At1April2021 3,128,562 103.946 739,830 372,942 164,024 151,759 4,661,063
Additions 1,143,824 395,858 22,192 55,882 1,617,756
Disposals
At31March 2022 4,272,386 103,946 1,135,688 395,134 164,024 207,641 6,278,819
Depreciation
At 1April 2021 103,760 105,922 270,966 115,106 104,187 699,941
Charge forthe year 22.503 16.923 12.234 22.596 74.558
Disposals
At31March 2022 103,762 128,725 287,889 127,340 126,783 774,499
Net book value
At31March 2021 3,128,562 186 633,908 101,976 48,918 47,572 3,961,122

Cost ofacquisitions 1,143,824 107,584 500
Value ofdonated assets
Carrying
amount ofdisposals
Proceeds ofdisposals* 35,000
Value ofimpairment
*Proceeds ofdisposals in 2022 represents the sale of land that was donated tothe Trust.

Cost
At1April2021 653.770 23.178 676.948 680.146
Additions 101,599 146,188 247,787 346,321
Disposals (74,981) (158,292) (233,273) (349,519)
Revaluations
Unrealised gains at 1April 2021 231,592 231,592 51,933
Net gains /(losses) arising on revaluations in the year 34,344 34,344 183,097
Disposals/reverse revaluations (21.703) (21.703) (3,438)
Charity
Cost
At 1April 2021 3 653,770 23,178 676,951 680,149
Additions 101,599 146,188 247,787 346.321
Disposals (74.981) (158.292) (233.273) (349.519)
Revaluations
Unrealised gains at 1April 2021 231.592 231.592 51.933
Net gains/(losses) arising on revaluations m the year 34,344 34,344 183,097
Disposals/reverse revaluations (21,703) (21.703) (3.438)

Trade debtors 420.513 88.035 365.239 37.429
Other debtors 64,032 25.020 60.113 18.809
Prepayments
and accrued income		 485,419 365,114 379,930 319,404
Legacies receivable 129,900 207,434 129,900 207,434
Amounts
owed by subsidiary		 company 192.778 115.071

Amounts
falling due within one year
Trade creditors 265,065 155,670 263,007 144,935
Other creditors and ace ruals 350,912 92.823 345,197 88,113

Provisions
At1April2021 445,419 600.000 445.419 600.000
Provisions recognised in the year
Provisions released in the year (156,600) (154,581) (156,600) (154.581)

Financial assets measured
the income and expenditure		 at fair value through
account		 935695 9Q8 540 935f98 9Q8 543
'
I |

2022
Financial assets measured at fair
value through the income and 15.393 34.344 15.393 34.344
expenditure account
2021
Financial assets measured at fair
value through the income and 12,712 183,097 12.712 183.097
expenditure account

Within one year 10,847 10,847
Due one to five years
20.STATEMENT OF FUNDS
unrestricted
funds
Income fund 1.180.022 2.383.759 (2.233.110) (163.064) 34.344 1.201.951
Totalunrestricted
funds		 1,180,022 2,383,759 (2,233,110) (163,064) 34,344 1,201,951
Designated
funds
Nature reserves 1.387.315 (2) 1.387.313
Operating
freehold		 633.103 373,055 1.006,158
Nature reserves development 16,354 16,354
Development
reserve		 1.235.799 237.304 90.841 1.563.944
Innovation
fund		 40,113 (6,571) 33,542
Nature reserves fund 200,000 200,000
Honeygar 35.000 35.000
Somerset Environmental Records Centre 66.096 66.096
Total designated
funds		 3,512,684 237,304 (2) 558,421 4,308,407
Restricted funds
More space for nature —nature recovery 37.551 2.832.126 (416,858) (1.539,682) 913.137
More space for nature —nature reserves 270.109 310.590 (346.359) 234.340
A movement
for nature		 285,582 287136 (334,007) 238,711
Telling Somerset's story 20,196 (20,196)
Total restricted funds 593,242 3,450.048 (1,117,420) (1,539,682) 1,386188
Endowment
funds
Nature reserves 1,741,433 1,144,325 2,885,758
Total endowment
funds		 1,741,433 1,144,325 2,885,758

Designated funds
Operating
freehold reserve		 373,055 (14,885)
Development
reserve		 90.841 500.000
Innovation
fund		 (6.571) (2.489)
Honeygar 35,000
Somerset Environmental Records Centre 66.096
Restricted funds
More space for nature —nature recovery (1.539.682)
More space for nature —nature reserves (108,944)
A movement
for nature		 (29,486)
Endowment
funds
Nature reserves 1.144.325 107.584
Unrestricted
funds		 (163,064) (451,780)

Tangible and heritage lixed assets 249,961 2,393,471 2,885,758 5,529,190
Investments 935,695 935,695
Current assets 921,091 1,914.936 1,386.188 4.222.215
Current
liabilities		 (615.977) (615.977)
Provisions for liabilities (288,819] (288,819)

Turnover 573,188 475,301
Cost ofsales 403,265 306,541
Gross profit 169,923 168,760
Administrative expenses 97.432 77,974
Taxation
Net profit after taxation 72,491 90,786
Paid under gift aid to Trust 72,491 90,786
Profit brought forward 152 152
Assets 197.990 127.956
Liabilities (197.835) (127.801)

Net income/(expenditure)
forthe reporting		 Net income/(expenditure)
forthe reporting		 period (as per the statement oflinancial activities) 2,754,923 1,460,894
Adjustments
for:
Depreciation
charges		 81,030 65,084
(Gains) on investments (34.344) (183.097)
Dividends,
interest and rents from investments		 (17,332) (13,496)
(Profit) on disposal offixed assets (35,000)
(Decrease) in provision for liabilities (156.600) (154.581)
(Decrease) in defined benefit pension liability (220.867)
(Increase)/decrease
in debtors		 (414,261) 75,318
Decrease/(increase)
in stocks		 361 (31)
Increase in creditors 367.484 72.021

Cash at bank and in hand 967,220 346,515
Deposit accounts (less than 3months) 2,153,802 1,802,732
Investment
cash holdings		 11,074 23,178

Income from:
Donations
and legacies		 1.532.145 196.732 142.369 1.871.246
Charitable
activities:
More space for nature —nature recovery 19,079 145,328 164,407
More space for nature —nature reserves 436.231 190.650 626.881
A movement
for nature		 5,000 410,105 415,105
Telling Somerset's story 124,467 2,197 126,664
Other trading activities 509,555 509.555
Investments 13.496 13.496
Other income 95,265 95,265
Expenditure
on:
Raising funds 970,216 970,216
Charitable
activities:
More space for nature —nature recovery 130.585 2 129,909 260,496
More space for nature —nature reserves 567.04S 231.296 798.341
A movement
for nature		 158,553 202,670 361.223
Telling Somerset's story 152,349 2,197 154,546
Current service pension cost/(credit]
Provision for Ash Dieback liability
Net gains on investments 183,097 183,097
Transfers between funds (451.780) 482.626 (138,430) 107.584
Reconciliation offunds
Fund balances brought forward at1 April 2020 692,215 2.833.328 407.095 1.633.849 5.566,487

Unrestricted
funds
Income fund 692.215 2.735.238 (1.978.748) (451.780) 183.097 1.180.022
Total unrestricted
funds		 692,215 2,735,238 (1,978,748) (451,780) 183,097 1,180,022
Designated funds
Nature reserves 1,387.317 (2) 1,387,315
Operating
freehold		 647.988 (14.885) 633.103
Nature reserves development 16,354 16,354
Development
reserve		 539,067 196,732 500,000 1,235,799
Innovation
fund		 42,602 (2.489) 40,113
Nature reserves fund 200.000 200.000
Total designated
funds		 2,833,328 196,732 (2) (482,626) 3,512,684
Restricted funds
More space for nature —nature recovery 22.132 145.328 (129,909) 37.551
More space for nature —nature reserves 279.610 330.739 (231.296) (108.944) 270.109
A movement
for nature		 105,353 412,385 (202,670) (29,486) 285,582
Telling Somerset's story 2.197 (2.197)
Total restricted funds 407,095 890,649 (566,072) (138,430) 593,242
Endowment
funds
Nature reserves 1.633.849 107.584 1.741.433
Total endowment
funds		 1,633,849 107,584 1,741,433
29.ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS 2021
Tangible and heritage fixed assets 214,362 2,020,418 1.741,433 3,976,213
Investments 908.540 908.540
Current assets 751,032 1,492,266 593.242 2,836,540
Current liabilities (248,493) (248,493)
Provisions for liabilities (445,419) (445,419)

-.wkth ctdircunirnitmentson plan to reduce our o environmentalimp.ac

34 Wellington Road Taunton Somerset TA15AW 01823 652400 somersetwildlife.org Charity numbar 238372 Company number 818162 Somerset Wildlife Trust