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2022-03-31-accounts

Legal and administrative
information
Introduction
from the Chairman
Trustees' Re ort consistin
ofthe followin
Structure and management 4
Environmental,
Social &Governance		 6
Risk Management 7
Trust vision, objectives and strategic plans 9
Review ofyear ended 31 March 2022 10
Financial
review and results for the year		 16
Trustees'
responsibilities
and approval		 21
Independent
auditor's
report		 22
Statement offinancial
activities		 26
Balance sheet 27
Cash flow statement 28
Notes to the financial statements 29

Affinity Water National
Lottery Community
Fund
Arts Councii England National
Lottery Heritage
Fund
Christopher
Laing Foundation		 People's Postcode Lottery
Dacorum
Borough Council		 Postcode Planet Trust
Environment
Agency		 Royal Society of Wildlife Trusts
Friends ofTewin Rural Payments
Agency (DEFRA)
Graham
and Henrietta
Somervell's		 Wildlife Trust Seeds of Change
Great Big Green Week Community Fund StAlbans City &District Council
Green Recovery Challenge
Fund delivered
Heritage
Fund
in partnership
with Natural		 by The National
England
and the		 Lottery
Environment		 Stevenage
Borough Council
Tarmac Limited
Agency Tesco Community
Grants
Harpenden
Town Council		 Thames Water
Hertford Town Council The Banister Charitable
Trust
Hertfordshire
Community
Foundation		 The Debs Foundation
Hertfordshire
County
Council		 The Linder Foundation
Hertfordshire
County Council Locality Budget		 (Cllr Crofton, Cllr Eames- The Tree Council
Petersen,
Cllr Kaye, Cllr Stevenson)		 Three Rivers District Council
Highways
England		 Veolia Environmental
Services
HS2 Caine Valley Regional
Park Panel		 Waitrose
&Partners
HS2 Ltd Wetford Borough Council
John Davis Welwyn
Hatfield
Borough Council
Kate
Ay lett		 West Herts Environment
Forum
Lee Valley Regional Park Authority Wild Trout Trust
London Borough of Hillingdon Woodland
Trust
We continue to champion
wildlife through		 our advocacy work with local government,
MPs and business leaders		 on
specific subjects such as the impact of Brexit and the future ofagri-environment
funding
and wildlife legislation.		 We
continue
to play a full role within the Wildlife		 Trusts federation in national campaigns.
We have continued
to engage
with Natural
England,
the Environment		 Agency, the Colne Valley Regional Park, the Lee Valley Regional Park
Authority,
the Chilterns
AONB, local authorities		 and businesses
in order to		 support ajoined-up
approach
to delivering
nature's
recovery and recognise that		 the future ofwildlife
is integrally
linked		 to addressing
climate change.
Working
with local authorities
continues to		 be a priority for the Trust in terms ofhaving
local impact and benefiting
local communities.
Special thanks go		 to County Cllrs Croffon, Eames-Petersen,
Kaye, and Stevenson
for their support
through
their Locality Grants.

Unrestricted Restricted Total Total
Funds Funds 2022 2021
Note f000 f000 f000 f000
income from:
- Donations
and		 legacies:
Membership
subscriptions		 2 1,170 1,170 1,057
Donations,
gifts		 and grants 4(a) 84 488 572 476
Legacies 82 5 87 3
- Other trading activities:
Fundraising
activities		 58 59 182
Investment
and		 other income 34 34 59
Income from charitable activities:
- Fees and contracts 4(b) 24 483 507 399
Total income 1,452 977 2,429 2,176
~EChih
Costs ofraising funds 5 655 10 665 464
Expenditure
on		 charitable activities:
Conservation
and nature		 reserves 5 874 771 1,645 1,561
Total expenditure 1,529 781 2,310 2,025
Net gains/(losses)
on investments		 12(a) 22 22 161
Net income (55) 196 141 312
Transfers
Net movement in funds 6 (55) 196 141 312
Fund balances brought forward 2,001 3,241 5,242 4,930
Fund balances carried forward 1,946 3,437 5,383 5,242

31 March 31 March 31 March 31 March
2022 2022 2021 2021
Note 8000 5000 FOOO EOOO
Fixed Assets
Tangible fixed assets 9 243 258
Intangible
Fixed assets		 10 33 42
Nature reserves 11 1,857 1,853
Investments 12 1,255 1,247
3,388 3,401
Current Assets
Debtors 13 224 271
Short term investments 14 251 249
Cash and cash equivalents 14 1,733 1,522
2,208 2,042
Creditors: Amounts
falling due within one
year		 15 ~213 201
Net Current Assets 1,995 1,841
Net Assets 5,383 5,242
Funds
Unrestricted
funds:
General funds 17 765 914
Designated
funds		 17 1,181 1,087
Restricted funds 18 3,437 3,241
Total Funds 5,383 5,242

31 31 31 31
March March March March
2022 2022 2021 2021
f000 f000 EOOO OOOO
Cash flows from o eratin activities
Net movement
in funds		 141 312
Adjustments
for:
Depreciation 38 21
Losses / (gains) on fixed and current investments (22) (177)
Investment
manager fees		 8
Investment
and interest income		 (34) (59)
Movement
in debtors		 47 32
Movement
in creditors		 13 7
Movement
in provision
Cash generated
from operating		 activities 183 144
Cash flows from investin activities
Investment
and interest income		 34 59
Repayment
offixed asset investment
Purchase
oftangible
fixed assets
Purchase
of nature reserves		 loan 15
(15)
~4		 (75)
~199
Net cash used in investing activities 30 (215)
Change
in cash and cash		 equivalents in the 213 (71)
reporting
period
Cash and cash equivalents at the beginning ofthe 1,771 1,842
reporting
period
Cash and cash equivalents at the end of the
reporting
period		 1,984 1,771

2. Household
memberships		 2. Household
memberships		 2022
No.		 2021
No.
Total Memberships at the start ofthe year 12,319 12,342
Net change 634 (23)
Total Memberships at the end ofthe year 12,953 12,319

3.Comparative
Statement ofFinancial Activities		 3.Comparative
Statement ofFinancial Activities		 Unrestricted
Funds		 Restricted
Funds		 Total
2021
6000 f000 6000
Income from:
- Donations
and legacies:
Membership
subscriptions		 1,057 1,057
Donations,
giRs and grants		 69 76
Legacies 3 3
-Other trading
activities:
Fundraising
activities		 174 182
Investment
and other income		 59 59
- Income from charitable activities:
Grants 400 400
-Fees and contracts 30 369 399
Total income 1,392 784 2,176
~Ex
Cht
Costs of raising funds 464
Expenditure
on charitable		 activities:
Conservation
and nature		 reserves 811 750 1,561
Total expenditure 1,260 765 2,025
Net gains/(losses)
on investments		 161 161
Net income 293 19 312
Transfers (36) 36
Net movement
in funds		 257 55 312
Fund balances brought forward 1,744 3,186 4,930
Fund balances carried forward 2,001 3,241 5,242

4.(a) Donations,
gifts and grants		 Unrestricted Restricted Total Total
2022 2022 2022 2021
8000 EOOO 8000 8000
Affinity Water 58 58
Astonbury
Wood Appeal		 207 207
Bannister Charitable
Trust		 12
CJRS (Job Retention Scheme) 19
Environment
Agency		 48 48 89
Heritage
Lottery Fund		 100 100 156
Hertford
Town Council		 30
Herts Community
Foundation		 15
Highways
England		 10 10
HS2 —Caine Valley Bats 26
Linder Foundation 13
People Postcode Lottery
Rural Payments
Agency (Defra) *		 35 10 10
35		 10
40
Other 49 55 104 66
Total 84 488 572 476

Unrestricted Restricted Total Total
4.(b)Fees and contracts 2022
8000		 2022
EOOO		 2022
EOOO		 2021
OOOO
Affinity Water —Biodiversity Management 59 59 62
Rent for Angling
Licences		 11 11
Consultancy 19 19 11
Hertfordshire
County Council		 - HERC 45 45 44
HS2/HLF —Colne Valley 180 180 78
Harpenden
TC - People 8 Wildlife Officer		 22
StAlbans
District Council		 33 33 25
Tarmac - Panshanger
P &WO		 52 52 21
HERC Data search invoices 60 60 52
HERC Annual
Licences		 24 24 19
Stevenage
Borough Council		 10
Other 13 24 44
Total 24 483 507 399

Expenditure Expenditure
on Raising on Charitable
5.Analysis oftotal expenditure funds
2022		 activities
2022		 Governance
2022		 Total
2022		 Total
2021
8000 FOOO 8'000 8000 8000
Direct costs: Note
Staff 8 volunteer
costs		 291 745 1,044 970
Nature reserves
and		 project 393 393 338
expenditure
Publications,
newsletters		 & publicity 102 110 104
Annual
contribution		 to RSWT* 47 47 48
Depreciation 6/9 7 24 38 21
Membership
recruitment		 8 servicing 255 255 115
Audit and accountancy fees 2 3 11 11
Council expenses 1 1
Sub total 563 1 317 19 1,899 1,607
*Royal Society ofVttldlife Trusts
Supportcosts:
Staff &volunteer costs 7 41 137 43 221 232
Finance 4 1 5 5
Office 22 70 20 112 96
Information
technology		 11 34 9 54 61
Legal and professional fees 2 14 3 19 24
Sub total 80 256 75 411 418
Total 643 1,573 94 2,310 2,025
Allocation
ofGovernance		 costs 22 72 (94)
Total (post allocation) 665 1,645 2,310 ~2025

8.
Net movement		 in funds
2022 2021
EOOO 6000
Net movement
in funds is stated after charging:
Auditors'
remuneration
-statutory
audit
—other services
Operating
lease rentals
- plant and machinery 11 8
Depreciation —owned assets 29 21
and crediting;
Interest receivable 5 8
7.Staff costs and numbers 2022 2021
6000 6000
Salaries
Social security costs		 1,018
96		 1,016
99
Employer's
pension		 80 73
Total 1,184 1,188
2022 2021
The average
number		 ofemployees during the year was: No. No.
Conservation
and Nature Reserves		 12 12
Support and Administration 7 6
Fundraising
and Publicity		 11 9
Projects 8 8
Total 38 35

9.Tangible fixed assets
Land,
Buildings &
Reserves Office Office Motor Plant and
Infrastructure
f000		 Equipment
6000		 Refurb
K'000		 Vehicles
6000		 Equipment
FOOO		 Total
6000
Cost
At 1 April 2021 256 137 47 29 469
Additions 5 3 15
Disposals
At 31 March 2022 261 140 7 47 29 484
Depreciation
At 1 April 2021 67 48 47 29 211
Charge for the year 7 22 29
Eliminated
on disposals
At 31 March 2022 94 70 47 29 240
Net Book Value
At 31 March 2022 167 70 244
At 31 INarch 2021 169 89 258
10.Intangible Assets 10.Intangible Assets Net Book Cost Depreciation Net Book
Value E'000 K'000 Value
1 April 31 INarch
2021 2022
Customer Relationship Software 42 33
11.Nature Reserves Cost Additional Cost
1 April 2021 Blagrove 31 March
E'000 6'000 2022 K'000
Cost of Nature Reserves 1,853 4 r 857

2022 2021
12.
Fixed asset investments		 6000 EOOO
Listed investments
(a)		 1,255 1,233
Loan to Wildlife Fundraising (Central) Ltd (b) 15
Total 1,255 1,248
a)
Listed investments		 2022 2021
f000 EOOO
Market value at 1st April 1,233 1,064
Additions
Gross Unrealised
(losses)/gains		 22 177
Investment
manager fees		 (8)
Market value at 31 March 1,255 1,233
Analysis
by type offund
Sarasin —Alpha CIF for Endowments 791
Sarasin —Growth
Fund		 806
Sarasin —Alpha CIFfor Income & reserves 315
Sarasin —Climate Active Endowment Fund 317
Black Rock —Charinco Common Investment Fund 56 57
Black Rock —Charishare
Restdicted		 Common Investment Fund 76 71
Market value at 31 March 1,255 1,233
Historical costat31 March
978 978

13.Debtors
Due within one year: 2022
OOOO		 2021
6000
Trade debtors 55 61
Gift Aid debtor 64 36
Prepayments and accrued income 105 174
As at 31 March 224 271

14.Short term investments
and cash and cash		 14.Short term investments
and cash and cash		 equivalents 2022
EOOO		 2021
FOOO
Short term investments:
Fixed notice accounts (notice exceeding 3months		 *) 251 249
Funds are held in a 12month notice account with Close Brothers.
Cash at banks:
Current accounts 1,733 1,522
Total Cash 8 Cash equivalents 1,984 1,771
15.Creditors: Amounts
falling due		 within one year 2022 2021
8000 FOOO
Life Members'
Subscriptions		 10 12
Trade creditors 23 24
Other creditors, accruals and deferred income 154 133
Taxation and social security 26 32
As at 31 March 213 251
2021 Releases Additions 2022
Deferred Income 8'000 K'000 K'000 8'000
Rattys Lane S.106 58 58
Contractual Income (prepaid) 40 (18) 30 52
Corporate Memberships (Annual) 6 (6) 7 7
Event Income (prepaid)
Total		 104 ~24 7
44		 7
124

Fund balances at 31 March 2022 Restricted Unrestricted Funds Total
as represented
by:		 Funds Designated General Funds
6000 6000 EOOD 8000
Fixed assets 142 134 276
Nature reserves 1,818 39 1,857
Investments 200 449 606 1,255
Cash and cash equivalents 1,395 608 (270) 1,733
Short term investments 124 12? 251
Other net current assets/(liabilities) (118) 129 11
Total Net Assets 3,437 1,181 785 5,383
Fund balances at 31 March 2021 Restricted Unrestricted Funds Total
as represented
by:		 Funds Designated General Funds
6000 8000 6000 8000
Fixed assets 169 131 300
Nature reserves 1,817 36 1,853
Investments*
Cash and cash equivalents		 215
1,137		 443
521		 590
(136)		 1,248
1,522
Short term investments 123 126 249
Other net current assets/(liabilities) (97) 167 70
Total Net Assets 3,241 1,087 91? 5,242

17.Total funds At at
1stApril
2021
8000		 Income
FOOO		 Expenses
8000		 Investment
gsinsl
(losses)
EOOD		 Transfer
sf000		 As at
31"March
2022
EOOO
Unrestricted
Funds
General
Fund		 914 1,370 (1,526) 7 765
Endowment
Fund*		 791 15 806
Legacies Fund* 296 82 (3) 375
Total Unrestricted
Funds		 2,001 1,453 (1,529) 22 1,946
Restricted
Funds
(note 19)		 3,241 977 (781) 3,437
Total Funds 5,242 2,429 (2,3'I0) 22 5,383

Investment At
At
1stApril		 Income Expenses gsinsl
(losses)		 Transfers 31stMarch
2021
2020 KOOO 5000 8000 FOOO OOOO f000
Unrestricted Funds:
General
Fund		 763 1,389 (1,260) 21 914
Endowment Fund 651 140 791
Legacies Fund 330 3 (36) 296
1,744 1,392 (1,260) 161 (36) 2,001
Restricted Funds 3,186 784 (765) 36 3,241
Total Funds 4,930 2,176 (2,025) 161 5,242

2022 2021
Operating
leases which expire:		 Other
fQQO		 Other
f000
Within one year 13
Between one and five years 29
42