DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**Registered number: 00695346 Charity number: 262777**
## **SUFFOLK WILDLIFE TRUST**
**(A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Trust, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 15|
|**Independent Auditors' Report on the Financial Statements**|16 - 19|
|**Consolidated Statement of Financial Activities**|20|
|**Consolidated Balance Sheet**|21|
|**Trust Balance Sheet**|22|
|**Consolidated Statement of Cash Flows**|23|
|**Notes to the Financial Statements**|24 - 50|
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|James Alexander, Chair|
|---|---|
||Joan Hardingham|
||Susan Hooton|
||Stephanie Jones|
||Robyn Llewellyn|
||Anna Saltmarsh|
||Calum Thomson, Honorary Treasurer|
||Timothy Woodward|
||Nicholas Cross (appointed 6 January 2023)|
||Dr Sharon Goddard (appointed 6 January 2023)|
|**Company registered**
**number**
00695346
**Charity registered**
**number**
262777
**Registered office**
Brooke House
The Green
Ashbocking
Ipswich
Suffolk
IP6 9JY
**Chief executive officer**
Christine Luxton
**Independent auditors**
Peters Elworthy & Moore
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
**Bankers**
Barclays Bank PLC
Princes Street
Ipswich
IP1 1PB
**Solicitors**
Birketts
Providence House
141-145 Princes Street
Ipswich
IP1 1QJ||
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
**(A Company Limited by Guarantee)**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **INTRODUCTION**
As Members of Suffolk Wildlife Trust, we share a commitment to the natural world and to playing our part in securing a wilder future.
The commitment of our Members makes it possible for Suffolk Wildlife Trust to think bigger and be ambitious for our county. Together we can inspire more people to get involved and harness the collective impact of individual and community actions for wildlife.
With Members in every community of Suffolk, the Trust has a mandate to speak up for nature and we are determined to use that voice to the full. I am proud of the leadership your Trust is bringing to our county with our vision for a wilder Suffolk. We want to bring nature back, so wildlife in our county is thriving and abundant once again - and we need everyone to play their part.
Suffolk Wildlife Trust is an inspiring and impactful charity with a compelling vision for our county to be wilder. We are uniquely placed to mobilise our county, to work together to secure the change nature needs.
## **James Alexander, Chair of the Board of Trustees**
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees present their annual report together with the audited financial statements of the Trust for the year 1 April 2022 to 31 March 2023. Reference to ‘the Trust’ includes the results of Suffolk Wildlife Trust and its wholly owned subsidiary SWT Trading Ltd, ‘the Group’. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
## **STRATEGIC REPORT**
Our strategic report is set out below and covers:
- Objectives and activities
- Achievements and performance
- Financial review
- Structure, governance and management
- Statement of Trustees’ responsibilities
## **OBJECTIVES AND ACTIVITIES**
## **a. Policies and objectives**
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regards to the Charity Commission’s general guidance on public benefit Charities and Public Benefit. Suffolk Wildlife Trust’s charitable purpose is enshrined in its objects. The Trust delivers its public benefit through its network of over 50 nature reserves (most of which are freely accessible to the public), five education centres and through the provision of expert advice and guidance.
The objects for which the Trust is established are:
1. For the benefit of the public, to advance, promote and further the conservation, maintenance and protection of:
- (i) wildlife and its habitats;
- (ii) places of natural beauty;
- (iii) places of zoological, botanical, geographical, archaeological or scientific interest and
- (iv) features of landscape with geological, physiographical, or amenity value in particular, but not exclusively, in ways that further biological conservation.
2. To advance the education of the public in:
- (i) the principles and practice of sustainable development and
- (ii) the principles and practice of biodiversity conservation.
3. To promote research in all branches of nature study and to publish the results.
Fundraising efforts are directed to four key areas:
- Maintaining and growing core funding through membership recruitment and retention
- Raising awareness of legacy funding and building the commitment of potential donors
- Securing new funding for new or time limited projects
- Growing earned income through our subsidiary SWT Trading
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **b. Strategies for achieving objectives**
Our vision for our county is
‘A Wilder Suffolk, where nature is thriving and abundant, because everyone is doing more to help’.
Our 2030 strategy is all about ‘scaling up’ our impact - to put nature on a path to recovery at the scale and pace that is needed in the decade to 2030.
We have three overarching strategic goals to achieve this: Goal 1: Nature is recovering at scale, in wildlife-rich landscapes & seas Goal 2: Nature & climate are part of everyday life and decision-making Goal 3: Our people are Suffolk’s leaders for nature
The scale of the shift we are seeking to effect is reflected in the ‘tipping points’ to secure lasting impact, which are the scientific underpinning of our strategy:
Ecological tipping point: 30% of Suffolk’s land & sea in recovery for nature Behavioural tipping point: 1 in 4 people taking action for nature & climate
## **c. Activities undertaken to achieve objectives**
Goal 1 - Nature is recovering at scale, in wildlife-rich landscapes and seas
Scaling-up our impact means protecting the wildlife we’ve got and bringing back what we’ve lost. To achieve this we will focus on four key areas of activity:
i) Landscape recovery
Working with others to unlock the nature potential of the wider landscape - a nature recovery network ii) Nature reserves
Cherishing our nature reserves as exceptional places for wildlife which anchor the nature recovery network and can seed nature’s recovery
iii) Species recovery
Championing the distinctive species of Suffolk’s towns & countryside
iv) Advocacy
Speaking out for nature in Suffolk - on land and sea
- Goal 2: Nature & climate are part of everyday life and decision making
Our shift from involving to enabling means changing how we work.
To achieve this we will focus on five key areas of activity:
i) Equality, diversity and inclusion (EDI)
- Removing obstacles and being relentless in our ambition to make the world of nature a place for everyone i) Nature connection
- i Harnessing the power of nature connectedness as a catalyst for nature action
- iii) Meaningful action
- Embracing a community organising approach to grow a movement for wildlife in Suffolk iv) Empowering young people
- Mobilising a new generation of young and diverse changemakers.
- v) Raising our voice
- Celebrating & inspiring more action & impact
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## Goal 3: Our people are Suffolk’s leaders for nature
Nature needs us to be a high performing team.
To achieve this we will focus on five key areas of activity:
i) Clarity
Everyone knows what they need to do to achieve our Mission to ‘Bring nature back’ ii) Culture
Our people have freedom to fulfil their potential and are empowered by our supportive, Mission-driven culture
iii) Leadership
Everyone has the leadership, resources & training they need to succeed
iv) Equality, diversity & inclusion (EDI)
Removing obstacles and being relentless in our ambition to make the world of nature a place for everyone
## **d. Investment policies**
Our approach to our financial investments is aligned to our values and is detailed in our Savings, Investment and Reserves policy, which is reviewed annually by the Board:
The Trust believes that taking account of environmental, social and governance (ESG) issues is an intrinsic part of being a good long-term investor, for both ethical and financial reasons.
The funds we have available to invest include legacy gifts, once transferred to our ownership, given to the Trust to benefit the natural world. Our approach reflects the need to keep them safe and use them wisely to invest in projects that fulfil the Trust’s objectives.
To do this The Trust will invest in low-risk and liquid financial products, such as funds or term deposits held or managed by highly rated UK regulated financial institutions. We seek to ensure the investment objectives of the products in which we invest are at least equivalent to the ethical policies of the Trust.
## **e. Grant making policies**
Suffolk Wildlife Trust is not a grant-making charity.
## **f. Volunteers**
Action for Suffolk’s wildlife, led by local people, is Suffolk Wildlife Trust’s great strength. Our volunteers keep the Trust rooted in our local communities and play a vital role in delivering our Mission to Bring Nature Back.
Every aspect of our work for nature is enriched and enhanced by volunteers, collectively giving over 70,000 hours last year, in every corner of the county… managing nature reserves, monitoring species, welcoming visitors, leading guided walks, checking livestock, sharing their love of nature with children, serving coffee, delivering magazines, inspiring their community, championing species recovery, fundraising or giving habitat management advice.
The scale and breadth of volunteer activity across the Trust is simply magnificent. From our Board of Trustees to our teenage Young Wardens, our volunteers bring integrity and community to everything we do and make Suffolk Wildlife Trust the vibrant, ambitious, grounded charity that nature needs us to be.
The Board recognises the significant contribution of the volunteers and thanks them individually and collectively.
Each year, Suffolk Wildlife Trust recognises a volunteer or voluntary group who have made an outstanding contribution to our work. This year, we were delighted to present our ‘Volunteer of the Year’ award to the SOS Swifts project. SOS Swifts is a project partnership between Suffolk Bird Group and Suffolk Wildlife Trust. It has
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
captured the imaginations of communities across the county and, as well as providing the nesting sites swifts need, is building a new and motivated network of community advocates for nature.
SOS swifts epitomises the ‘everyone playing their part in bringing nature back’ philosophy of the Trust. With more than 1,000 swift boxes up in Suffolk already, it’s a magnificent example of the impact for nature a small group of dedicated volunteers can have, and what our Team Wilder approach aims to inspire more of.
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. Main achievements of the Trust and review of activities**
This year we introduced our bold new strategy ‘Bringing Nature Back’ to move us towards this. It focuses our efforts to 2030 on mobilising our county to scale-up the pace of change in wildlife’s favour. To protect the wildlife we still have and bring back what we’ve lost.
The Trust’s ambition to make the decade to 2030 the one in which we bring nature back underpins the decisions made by your Board of Trustees about where to focus the charity’s resources. Ecological science indicates we need to restore a minimum of 30% of the world’s terrestrial and marine habitats to enable nature to thrive.
If we are to turn around the fortunes of nature, 30% needs to be a collective target - global, national and local - which every sector of society helps to achieve. Suffolk Wildlife Trust is uniquely placed to mobilise local action for nature in our county and so championing 30% by 2030 (30 by 30) is central to our 2030 strategy.
To do this we are working proactively with others to focus our collective efforts on ensuring 30% of Suffolk is well managed for wildlife by 2030. We estimate Suffolk has only half of the habitat needed for an effective nature recovery network. The scale and pace of change society must commit to is unprecedented, but vital.
This year we have already begun to see the positive impact of the investment in our new team of Farmland, River and Community Wildlife Advisers. They are helping to inspire and support the step change in our impact outside our nature reserves - to champion landscape-scale approaches to nature’s recovery.
We are now working with landowners and managers of 41 of the county’s larger landholdings (50 ha and over) to support land management decisions which benefit nature.
421ha (1040 acres) of new County Wildlife Site have been designated thanks to our surveys. County Wildlife Sites are areas of private or publicly owned land in Suffolk which are of county or regional importance for wildlife. They play a key part in the conservation of Suffolk’s biodiversity, with 950 sites amounting to over 11,000ha (27,000 acres) covering almost 5% of the county.
Our community advisors have worked with 31 community groups and parish councils to support nature-based decisions on 72ha (178 acres) of land, 29 churchyards and burial grounds totalling 22ha (54 acres) and 6 businesses covering 11ha (27 acres).
Throughout the year, our Planning and Advocacy team have been relentless in trying to positively influence planning policy and where developments are proposed, fighting nature's corner. 89% of our responses to planning applications resulted in improved outcomes for biodiversity. This could be through applications being refused, changed to avoid impacts, or improved by including measures to replace lost wildlife habitat. We will never be able to respond to every planning application and so we focus our efforts on developments that pose the greatest risk to wildlife and where the outcomes will set precedents for how planning and development consider and protect wildlife.
Year on year, in the same way that we lost so much of our wildlife in Suffolk, this investment in advice, support and advocacy will help to bring nature back - piece by piece. A new hedge, a restored pond, wildlife gardens, field margins, community spaces, businesses, new natural woodlands, wilder rivers, creating connectivity across
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
the landscape and nudging Suffolk closer to the 30% we need.
We want our county to once again bask in the abundance of wildlife which enriches and brightens all our lives. Over the course of the year, through our magazines and e-newsletters, Trust Members will have seen our ambition and determination to succeed. The support of our members makes this possible and roots us in the communities we live in.
Across Suffolk, we care for 6821 acres (2761 ha) of wildlife habitat in our 51 nature reserves, encompassing all the habitat types that make our county unique:
|•|Ancient woodland|585 acres / 237ha|
|---|---|---|
|•|Valley fen|522 acres / 211ha|
|•|Wetland & reedbed|2416 acres/ 978ha|
|•|Coastal & intertidal|693 acres / 281ha|
|•|Species rich grassland|179 acres / 73 ha|
|•|Heathland & acid grassland|942 acres / 381ha|
|•|Other semi habitats|478 acres / 193ha|
|•|Rewilding|1006 acres / 407 ha|
As we look to have more influence on the landscape beyond our reserves, we will of course continue to cherish our nature reserves. They are the jewels of Suffolk’s countryside. Indeed our reserves will have a renewed sense of purpose as the ecological hotspots that can seed nature’s recovery into the surrounding landscape. This year we seized the rare opportunity to establish an entirely new nature reserve – Martlesham Wilds, which illustrates this perfectly.
At over 120ha (300 acres), adjoining the Deben estuary and close to Martlesham and Woodbridge, the chance to buy Martlesham Wilds was an exceptional opportunity to create a wild place of immense value to wildlife and people. The Deben estuary is an extraordinary setting for this new nature reserve, nationally and internationally important for its waders and wildfowl and within the Suffolk Coast and Heaths Area of Outstanding Natural Beauty. Wildlife desperately needs wilder landscapes that are bigger, better and more joined-up. Martlesham Wilds will be such a place.
Buying Martlesham Wilds, an arable farm that thanks to its organic stewardship is already home to a wonderful array of plants and invertebrates was an ambitious move, reflecting our focus on the need to act now if we are to turn around the fortunes of nature by 2030. Under our ownership, the patchwork of hedge-lined fields that roll gently down to the river will gradually ‘wild’ into an intricate mosaic of natural habitats maintained by grazing. The emergence of this new pastoral landscape will be thrilling to watch.
A substantial legacy gift from Pam and George Ford put the reserve purchase within our reach and over 2250 individual donations helped us complete the funding. Our thanks to them all.
At a time when even once common species are struggling in the wider countryside, we need more wild areas where populations of birds, insects and other animals can recover and help repopulate the wider landscape – indeed they are vital to achieving 30 by 30.
We want to make the world of nature a welcoming and inclusive place, so everyone can play their part in bringing nature back to our towns and countryside. The decision to buy Martlesham Wilds reflects this and it is already becoming a focus for involving and inspiring the communities nearby. Indeed, over the past year, we have shifted the focus of our engagement activity across the county to reach out more proactively to the communities around our reserves.
Under our ‘Team Wilder’ banner, working with others to support and enable everyone to play their part in bringing nature back where they live, work or go to school. This collective, county-wide community-led action will help to restore the abundance of everyday nature and bring wildlife to the fore in individual and community decision making.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
We need everyone to play their part – and our superpower to make this happen, as it has always been, is our localness and the grassroots action this unlocks.
## **b. Key performance indicators (KPIs) to 2030**
The Board assesses the delivery of our 2030 strategy against the impact we strive to create:
- Suffolk’s landscape will better reflect the Lawton principles with more, bigger, better and joined-up
- space for nature, within a fully developed Nature Recovery Network.
- Our nature reserves, including two new rewilding reserves, will be hotspots of biodiversity which anchor
- the Nature Recovery Network and seed nature’s recovery.
- Landscape change will be reflected in increased species abundance and habitat connectivity.
- • Nature will be valued.
- Space for nature will be embedded in local decision-making frameworks - and decision-makers will be
- held to account by community champions and local advocacy.
- Action by individuals and communities contributes to positive change for nature - with action escalating
- independently through county networks we have enabled.
- The Trust’s sphere of influence will have grown and we will be a younger, more diverse, county
- movement for nature.
- We will have the resources to deliver our 2030 impact through scale-able growth that keeps pace with
- our ambition.
## **c. Factors relevant to achieve objectives**
We have remained alert to the impact of external economic and geopolitical factors, including the cost of living crisis and the potential impact of this on fundraising and visitor spend at our centres. Avian flu has also been of concern and has the potential to impact significantly on our activities including our centres.
## **d. Fundraising activities and income generation**
The support of our members underpins the charity’s day to day activities and our long term strategic planning. We are grateful to all our members for their support. Membership at the end of March 2023 was 13,753 households (26,595 members), meaning we have held steady despite the economic challenges facing many households.
We have continued to secure grant funding for the delivery of specific projects in line with our strategic focus and agri-environment grants for land management.
This year has seen a specific focus on income generation through retail and catering at our centres to provide an earned income stream.
We would like to thank the following members and supporters for their generosity in remembering the Trust in their will this year:
David Albon Elizabeth Durand Wendy Kinch Inez Benham William Arnott Fowler Roy Miles Olive Bennett Richard Gornall Jean Rochester Winston Briggs Richard 'Gus' Govett Anthony Stacey Stella Bunn Vera Hockaday Fraser Sutherland Hazel Cawston Jennifer Johnson Terence Taylor John Chaplin Shirley Key Stone Mary Thompson
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **e. Investment policy and performance**
Our approach is detailed in our Savings, Investment & Reserves policy.
We spread the investment of funds between a defined list of:
- Instant access and very short-term deposit accounts or cash funds (up to 95 days notice) to ensure all
- operating expenditure commitments are delivered.
- Short-term deposit accounts or cash funds (1 to 3-year maturities) to ensure all capital expenditure
- commitments are delivered.
- Liquid investment funds that meet the Trusts objectives and are managed predominantly in accordance
- with the Trusts values.
The Finance & Resources Committee approve a list of financial products and/or institutions that meet the criteria outlined in this policy and also set maximum levels of funds to be invested in each.
During the year our investments decreased in value by a small amount.
## **FINANCIAL REVIEW**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
Free reserves are funds held in case of any sudden decline in income and to ensure that contractual obligations to staff, premises and funding partners can be met with confidence. The Trustees' policy is to hold free resources sufficient to meet 6 months unrestricted expenditure and associated core staff costs. Free reserves sufficient to meet these objectives were maintained throughout the 2022/2023 year.
For 2023/2024, in accordance with this policy, the free reserve levels have been calculated at £2,003k. Free reserves are monitored at every Board meeting.
Funds above this level can be designated to specific projects, particularly the acquisition of land as nature reserves and advisory and engagement activity to support the delivery of our 2030 strategy to Bring Nature Back.
As part of ongoing financial planning, the Trustees review the level of unrestricted and restricted funds at each Board meeting. Funds are allocated between restricted and unrestricted funds in accordance with the wishes of the donor. As a significant proportion of unrestricted income is derived from membership subscriptions, the Trustees pay particular attention to the level of membership.
## **c. Principal risks and uncertainties**
The Trustees are responsible for the identification and assessment of the major risks to which the charity is exposed. The risk management strategy considers these major risks and the effectiveness of the arrangements for managing them. Anything that might undermine our ability to fulfil our charitable objectives is considered including:
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
|`RISK`|`IMPACT`|`MITIGATION TO ADDRESS THE RISK`|
|---|---|---|
|`Poor`
`Governance`|`The Trust would be unfocused with an inability to`
`move forwards, resulting in poor delivery of its`
`charitable objectives:`
•
`Trustees and/or Leadership Team acting`
`outside charitable objectives`
•
`Trustees insufficiently independent of`
`Leadership Team`
•
`Reputational damage to the charity`
•
`Inadequate procedures to enable and protect`
`whistle-blowers`|`Strong governance framework, including`
`Articles of Association, Trustee Code of`
`Conduct, Governance Standing Orders,`
`Scheme of delegation, Annual Agenda`
`Plan`
`Trustee-only time included in Annual`
`Agenda Plan`
`Conflict of interest captured in the Register`
`of Interests`
`The strategy is directly aligned to the`
`Charitable objectives`|
|`Inability to`
`recruit and`
`retain`
`sufficient`
`staff and`
`volunteers`|`Loss of capacity and continuity resulting in an`
`inability to meet charitable objectives:`
•
`Loss of key members of Leadership Team`
`and / or specialist staff`
•
`Failure to retain or recruit staff`
•
`Failure to retain or recruit sufficient`
`volunteers`
•
`Failure to manage staff & volunteers so they`
`fulfil their objectives`|`Investment in staff and volunteers is key`
`strand of 2030 strategy`
`Focus on organisational values and`
`culture and aligning work practices to`
`these`
`Direct line of sight from all roles to`
`Charitable objectives to align to`
`individual’s values and job satisfaction`
`Active communication between staff,`
`volunteers and Trustees to ensure issues`
`are identified and resolved.`|
|`Failure to`
`manage`
`Health &`
`Safety risks`
`appropriately`|`Harm to visitors, volunteers or staff leading to`
`reputational damage and financial loss impacting`
`on delivery of charitable objectives:`
•
`Serious injury or fatality involving member of`
`staff or volunteer`
•
`Serious injury or fatality involving member of`
`the public`
•
`Failure to comply with current regulations`|`Oversight by Health & Safety &`
`Safeguarding Board Committee`
`Named Lead Trustee for Health & Safety`
`Health & Safety Policy and processes and`
`recording, including Codes of Practice,`
`Risk assessments and related policies`
`Ongoing review of risk assessments for all`
`activities and sites`
`Safeguarding Working Group ensures staff`
`input`
`Ongoing training programme for staff and`
`volunteers`|
|`Failure to`
`protect`
`individuals`
`from harm`|`Harm to individuals leading to reputational`
`damage and financial loss impacting on delivery`
`of charitable objectives:`
•
`Inadequate safeguarding procedures for`
`staff, volunteers and visitors`|`Oversight by Health & Safety &`
`Safeguarding Board Committee`
`Named Lead Trustee for Safeguarding`
`Safeguarding`
`Policy,`
`processes`
`and`
`recording, including codes of practice, risk`
`assessments and related policies`
`Health & Safety & Safeguarding Working`
`Group ensures staff input.`
Ongoing training programme for staff and
volunteers|
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**This draft produced on 4/7/2022 18:25**
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
|Loss or
damage to
data|Reputational damage (eg breach of GDPR),
financial loss and inability to continue operations
and delivery of charitable objectives:
•
Cyber attack
•
Loss of personal data
•
Loss of organisational data|Policy and training for staff & volunteers
covering data security and adherence to
GDPR
IT security including firewalls and use of
cloud-based servers
External IT support and internal IT
manager|
|---|---|---|
|Other
operational
risks
associated
with running
a multi-
faceted
organisation|Inability
to
deliver
charitable
objectives,
reputational damage and financial loss through:
•
Inadequate security of physical assets
•
Failure to fulfil contractual obligations to
external bodies
•
Failure to comply with current legislation
•
Delivery of time-limited projects impacts
other operational activity
•
Loss of reputation due to adverse publicity|Governance framework: Scheme of
delegation and significant new projects are
approved by the Board of Trustees
Insurance, training and physical security at
Trust sites
Annual internal review & monitoring of
reserve operations
Management framework for all projects
Communications oversight by Leadership
team|
|Financial|Reputational damage, financial loss and inability
to continue operations and delivery of charitable
objectives:
•
Poor financial controls leading to loss
•
Failure to comply with financial regulations
•
Loss of funds due to major financial
institutions in which we invest collapsing|Oversight by Finance & Resources Board
committee
Hon Treasurer acts as Trustee lead for
finance
Savings, Investment and Reserves policy
covering all investments managed by the
Trust
Financial reporting to the Board
Scheme of delegation for financial sign off
Effective annual budgeting procedures
and monitoring|
|External
environment
in
areas
such as:
Climate
change
State of UK
economy
Geopolitical
risks
UK political
climate
and
pathogens
Pests|Environmental and geopolitical risks impact
aspects of the Trust’s operation possibly leading
to reduced ability to deliver charitable objectives:
•
Loss of fundraising income
•
Loss in value of investments
•
Increase in costs to sustain existing activity
•
Loss of habitat
•
Change in habitat
•
Inability to deliver charitable objectives|The Board and Leadership team regularly
discuss the potential impact of these risks
and flex the Trust’s activities to manage
their impact as far as possible.|
|Failure to
manage risk|Failure to effectively implement, monitor, record
or report mitigating controls|Oversight by Board through review and
reporting as part of annual agenda plan|
`Page` 11
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees consider risk at every Board meeting and review the strategy in depth on an annual basis. They are satisfied that systems are in place to mitigate our exposure to the major risks where possible.
## **d. Financial risk management objectives and policies**
The Trustees are responsible for the identification and assessment of the major risks to which the charity is exposed (see ‘c’ above). The risk management strategy considers these major risks and the effectiveness of the arrangements for managing them. Anything that might undermine our ability to fulfil our charitable objectives is considered including:
- responsibility to our staff, supporters, volunteers and visitors
- reputation
- assets - both physical and financial
- retaining staff and volunteers
- the external environment
- sources of income
The Trustees consider the strategy at every Board meeting and undertake a full review on an annual basis. The Trustees are satisfied that systems are in place to mitigate our exposure to the major risks where possible.
Financial risk is addressed further in the Trust’s Savings, Investment & Reserves policy which is primarily designed to ensure and promote the charity’s financial resilience to deliver its strategic objectives. The annual review of the policy considers both the historic and anticipated future nature and sources of income, and capital and revenue expenditure commitments.
The objective of the Savings, Investment and Reserves Policy:
- i) To protect the Trust’s financial assets.
- ii) To enable the Trust to fulfil the objectives of the charity and to be able to access funds as expenditure is required.
- iii) To hold sufficient free reserves to ensure the Trust is able to meet its working capital commitments in the short term and also to ensure sufficient liquid reserves are available to meet medium term demands. iv) To optimise financial return, commensurate with a low level of risk and a high level of liquidity, within a socially responsible investment policy.
## **e. Principal funding**
We apply for and are pleased to receive grant funding for our nature reserves, species conservation and learning and engagement activities from a wide range of funders. These range significantly in size depending on the project, and each one is a vital piece of our funding jigsaw that enables us to fulfil our charitable objectives. These funders include charitable trusts, grant making bodies, government agencies, businesses, community groups and individual gifts through personal gifts, legacies and fundraising.
Membership remains our largest unrestricted year on year source of funding that underpins everything the Trust does and embeds our activity in communities across Suffolk.
We continue to operate a dedicated Legacy Fund within the Trust’s Designated Funds through which Trustees determine how unrestricted legacies are allocated. This ensures the targeted use of these funds to deliver our strategic impact for wildlife and also allows us to publicly acknowledge the importance of these generous gifts.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. Constitution**
The Trust is registered as a members limited liability company and was set up by a Memorandum of Association on 20 November 2002.
## **b. Methods of appointment or election of Trustees**
The management of the Group and the Trust is the responsibility of the Trustees who are elected and co opted under the terms of the Trust deed. Any member of the Trust can put themselves forward as a Trustee. Nominations are considered each year at the AGM and nominees, if elected, have a term of three years. Trustees are eligible to stand for a second term but if re elected for two consecutive terms they are required to take a year's break before standing again.
The Chair may offer themselves up for re-election beyond the initial two three-year terms up to a maximum of three additional years.
The Trust aims to have a broad range of skills amongst its Trustees relevant to the running of the organisation and monitors this through the Board skills register.
## **c. Organisational structure and decision making policies**
The affairs of the Trust are managed by the Board of Trustees, through the Chief Executive.
The Board is comprised of up to twelve members made up of:
i) Chair, Honorary Treasurer (appointed at the first Board meeting following the AGM) ii) Up to eight ordinary Trustees iii) Up to two additional co opted Trustees
The Trust has six main activity areas each with its own Head of Department Wildlife conservation & recovery, Land-based projects, Community engagement & learning, Income Generation, Finance & Resources and Communication. These Department Heads report to the Chief Executive and, with the Chief Executive, form the Leadership team.
Finance reports produced by the Head of Finance & Resources are sent to the Board quarterly.
There is a separate wholly owned trading subsidiary, S.W.T Trading Limited that continues to trade successfully and make valuable contribution to the Trust's income. The subsidiary's main activities consist of sale of goods, consultancy and other services.
Members of the Board of Trustees may be called upon to contribute a sum of £1 each in the event of the company going into liquidation.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **d. Policies adopted for the induction and training of Trustees**
There is a structured induction process for new Trustees which includes meeting key staff, receiving governance, strategy and financial documents and visits to gateway nature reserves.
The Chair will introduce Trustees to the first meeting of the Board they attend and may arrange for an established Trustee to act as mentor to the new Trustee.
## **e. Pay policy for key management personnel**
The annual review of payroll is approved by the Board of Trustees using CPI as an indication of cost of living increase and external benchmarking against other Wildlife Trusts and the natural heritage sector. On occasion there can also be interim reviews.
## **f. Related party relationships**
There are no related party relationships to disclose.
## **g. Financial risk management**
The Trustees have assessed the major risks to which the Group and the Trust are exposed, in particular those related to the operations and finances of the Group and the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **h. Trustees' indemnities**
Trustees are covered under the Trust’s Management Liability Policy to a value of £1million.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees (who are also the Directors of the Trust for the purposes of company law) are responsible for preparing the Trustees' Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Trust and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **DISCLOSURE OF INFORMATION TO AUDITORS**
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's
- auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
## **AUDITORS**
The auditors, Peters Elworthy & Moore, have indicated their willingness to continue in office. The designated Trustees will propose a motion appointing the auditors at the Trust's Annual General Meeting.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**James Alexander** Chair
Date: 3 October 2023
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUFFOLK WILDLIFE TRUST**
## **OPINION**
We have audited the financial statements of Suffolk Wildlife Trust (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Trust Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2023 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUFFOLK WILDLIFE TRUST (CONTINUED)**
## **OTHER INFORMATION**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUFFOLK WILDLIFE TRUST (CONTINUED)**
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the Responsible Individual ensured that the engagement team collectively had the appropriate
- competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the Group through discussions with Trustees and other management, and from our knowledge of charity and company law and experience;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Charitable Company, including the Companies Act 2006, Charities Act 2011 and UK taxation legislation, as well as those laws and regulations relating to
- the group's operations such as and data protection,health and safety and employment legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit; and
- we reviewed the minutes of Trustees' meetings to identify any references to non-compliances with laws and regulations.
We assessed the susceptibility of the Group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUFFOLK WILDLIFE TRUST (CONTINUED)**
To address the risk of fraud through management bias and override of controls, we;
- tested journal entries to identify unusual transactions;
- we evaluated the assumptions and judgements used by management within significant accounting estimates and assessed whether these indicated evidence of management bias; and
- performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing any correspondence with relevant regulators such as the Charity Commission.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
## **USE OF OUR REPORT**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Kathryn Hebden (Senior Statutory Auditor)**
for and on behalf of **Peters Elworthy & Moore** Chartered Accountants Statutory Auditors Salisbury House Station Road Cambridge CB1 2LA
Date: 03 October 2023
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**INCOME FROM:**
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other income
8
**TOTAL INCOME**
**EXPENDITURE ON:**
Raising funds
9
Charitable activities
10
**TOTAL EXPENDITURE**
**NET INCOME BEFORE NET**
**(LOSSES)/GAINS ON**
**INVESTMENTS**
Net (losses)/gains on investments
**NET INCOME**
Transfers between funds
22
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
22
Net movement in funds
**TOTAL FUNDS CARRIED FORWARD**
22|**Unrestricted**
**funds**
**2023**
**£000**
**2,134**
**248**
**994**
**56**
**27**
**3,459**
**1,151**
**2,242**
**3,393**
**66**
**(44)**
**22**
**208**
**230**
**7,437**
**230**
**7,667**|**Restricted**
**funds**
**2023**
**£000**
**726**
**1,498**
**319**
**-**
**-**
**2,543**
**26**
**1,932**
**1,958**
**585**
**-**
**585**
**(208)**
**377**
**20,858**
**377**
**21,235**|**Total**
**funds**
**2023**
**£000**
**2,860**
**1,746**
**1,313**
**56**
**27**
**6,002**
**1,177**
**4,174**
**5,351**
**651**
**(44)**
**607**
**-**
**607**
**28,295**
**607**
**28,902**|Total
funds
2022
£000
4,458
1,438
1,223
22
512|
|---|---|---|---|---|
|||||7,653|
|||||814
3,330|
|||||4,144|
|||||3,509
59|
|||||3,568
-|
|||||3,568|
|||||24,727
3,568|
|||||28,295|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 24 to 50 form part of these financial statements.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 00695346**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**FIXED ASSETS**
Tangible assets
15
Heritage assets
16
**CURRENT ASSETS**
Stocks
18
Debtors
19
Investments
20
Cash at bank and in hand
25
Creditors: amounts falling due within one
year
21
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Restricted funds
22
Unrestricted funds
22
**TOTAL FUNDS**|**44**
**2,482**
**1,829**
**3,296**
**7,651**
**(1,576)**|**2023**
**£000**
**3,790**
**19,037**
**22,827**
**6,075**
**28,902**
**21,235**
**7,667**
**28,902**|41
1,939
1,874
5,309
9,163
(352)|2022
£000
3,756
15,728|
|---|---|---|---|---|
|||||19,484
8,811|
||||||
|||||28,295|
|||||20,858
7,437|
||||||
|||||28,295|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**James Alexander** Chair
## Date: 3 October 2023
The notes on pages 24 to 50 form part of these financial statements.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 00695346**
## **TRUST BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**FIXED ASSETS**
Tangible assets
15
Heritage assets
16
**CURRENT ASSETS**
Stocks
18
Debtors
19
Investments
20
Cash at bank and in hand
25
Creditors: amounts falling due within one
year
21
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Restricted funds
22
Unrestricted funds
22
**TOTAL FUNDS**|**11**
**2,476**
**1,829**
**3,201**
**7,517**
**(1,482)**|**2023**
**£000**
**3,783**
**19,037**
**22,820**
**6,035**
**28,855**
**21,235**
**7,620**
**28,855**|11
1,810
1,874
5,170
8,865
(292)|2022
£000
3,748
15,728|
|---|---|---|---|---|
|||||19,476
8,573|
||||||
|||||28,049|
|||||20,858
7,191|
||||||
|||||28,049|
The Trust's net movement in funds for the year was £806k (2022 - £3,469k).
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**James Alexander** Chair
## Date: 3 October 2023
The notes on pages 24 to 50 form part of these financial statements.
Page 22
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**CASH FLOWS FROM OPERATING ACTIVITIES**
Net cash used in operating activities
24
**CASH FLOWS FROM INVESTING ACTIVITIES**
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of intangible assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Purchase of nature reserves (heritage assets)
**NET CASH USED IN INVESTING ACTIVITIES**
**CASH FLOWS FROM FINANCING ACTIVITIES**
Cash inflows from new borrowing
Repayments of borrowing
**NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES**
**CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR**
Cash and cash equivalents at the beginning of the year
**CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR**
25
The notes on pages 24 to 50 form part of these financial statements|**2023**
**£000**
**477**
**56**
**28**
**-**
**(368)**
**-**
**-**
**(3,309)**
**(3,593)**
**1,303**
**(200)**
**1,103**
**(2,013)**
**5,309**
**3,296**|2022
£000
4,605
22
512
(181)
-
21
(1,396)
(761)|
|---|---|---|
|||(1,783)
-
(76)|
|||(76)
2,746
2,563|
|||5,309|
Page 23
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**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. GENERAL INFORMATION**
Suffolk Wildlife Trust is a charitable company limited by guarantee and incorporated in England and Wales. Its registered office, which is also the principal place of business, is Brooke House, The Green, Ashbocking, Ipswich, Suffolk, IP6 9JY.
## **2. ACCOUNTING POLICIES**
## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Suffolk Wildlife Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Trust and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Trust has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
The financial statements are presented in pound sterling rounded to the nearest one thousand.
## **2.2 GOING CONCERN**
In approving these accounts, the Trustees have assessed whether the use of the going concern is appropriate and whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.
With the level of unrestricted funds and liquid assets available, the Trustees consider the organisation is in a stable financial position. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The Trustees consider that the budgeted cashflow is sufficient with the level of unrestricted reserves for the Trust to be able to meet its liabilities as they fall due. For this reason, the Trustees consider it appropriate for the financial statements to continue being prepared on a going concern basis.
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## **SUFFOLK WILDLIFE TRUST**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.3 INCOME**
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Trust has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid Will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Trust, can be reliably measured.
Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donated services or facilities are recognised when the Trust has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Trust of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Trust's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Trust which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.4 EXPENDITURE**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 GOVERNMENT GRANTS**
Revenue government grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred.
## **2.6 INTEREST RECEIVABLE**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.7 TAXATION**
The Trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 26
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**(A Company Limited by Guarantee)**
## **SUFFOLK WILDLIFE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets costing £5,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Trust assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
|Freehold property|- 4 - 5% on cost|
|---|---|
|Long-term leasehold property|- Over the term of the lease|
|Plant and machinery|- 20% on cost|
|Other fixed assets|- 10% on cost|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Financial Activities.
## **2.9 HERITAGE ASSETS**
Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.
At each reporting date the Trust assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
## **2.10 INVESTMENTS**
Current asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Page 27
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.11 STOCKS**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.12 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.13 CASH AT BANK AND IN HAND**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.14 LIABILITIES AND PROVISIONS**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.
## **2.15 FINANCIAL INSTRUMENTS**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.16 PENSIONS**
Contributions made to individuals' personal pension schemes are charged to the Statement of Financial Activities in the period in which they relate.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.17 FUND ACCOUNTING**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Trust makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
## **Legacies**
The Charity is in receipt of legacies. Where a legacy has not been settled at the year end and the criteria for recognition is met an element of judgement may be required to reasonably estimate the final sum if not all settled in cash subsequent to the year end. Any estimates are based on advice from solicitors in determining estate values which in turn may use market values for assets such as properties and investments. Data from appropriate agents and readily available market data are used in determining the estate value.
## **Heritage assets**
Heritage assets includes land acquired as arable land and therefore land that is held at the cost of arable land. As part of the Trust’s charitable objectives, land is purchased to be rewilded and therefore there are instances where, if required to be sold today, land may not achieve its cost value without additional expenditure being required. Each year, the Trust internally reviews the value of our land holding in comparison with current market values and can confirm we do not view that the total value of land is impaired, therefore it remains at cost.
Page 29
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT (CONTINUED)**
## **Depreciation**
Based on the useful economic lives which are set out in the accounting policies. These estimates are the best estimate based on past experience and expected performance and are regularly reviewed to ensure they remain appropriate.
## **4. INCOME FROM DONATIONS AND LEGACIES**
|**Unrestricted**
**funds**
**2023**
**£000**
Member Subscriptions & Donations
1,000
Legacies
1,134
Government grants
-
**TOTAL 2023**
2,134
TOTAL 2022
1,806|**Restricted**
**funds**
**2023**
**£000**
649
77
-
726
2,652|**Total**
**funds**
**2023**
**£000**
**1,649**
**1,211**
**-**
**2,860**
4,458|Total
funds
2022
£000
3,512
886
60|
|---|---|---|---|
||||4,458|
|||||
In 2022 the Trust received a Government Growth grant of £50,000 and government funding of £10,000 under the Coronavirus Job Retention Scheme. There were no such grants in this year.
In 2022 donations includes a donated asset of £1.9m. There were no such exceptional donations this year.
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|**Unrestricted**
**funds**
**2023**
**£000**
Grants
4
Fees receivable
21
Learning and other income
223
248
TOTAL 2022
189|**Restricted**
**funds**
**2023**
**£000**
1,498
-
-
1,498
1,249|**Total**
**funds**
**2023**
**£000**
**1,502**
**21**
**223**
**1,746**
1,438|Total
funds
2022
£000
1,249
18
171|
|---|---|---|---|
||||1,438|
|||||
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **6. INCOME FROM OTHER TRADING ACTIVITIES**
## **Income from fundraising events**
|**Unrestricted**
**funds**
**2023**
**Restricted**
**funds**
**2023**
**£000**
**£000**
Fundraising
86
319
Rental income
12
-
98
319
TOTAL 2022
68
290
**Income from non charitable trading activities**
**Unrestricted**
**funds**
**2023**
**£000**
S.W.T Trading - Merchandising
500
S.W.T Trading - Consulting
396
896
TOTAL 2022
865
**7.**
**INVESTMENT INCOME**|**Total**
**funds**
**2023**
**£000**
**405**
**12**
**417**
358
**Total**
**funds**
**2023**
**£000**
**500**
**396**
**896**
865|Total
funds
2022
£000
290
68|
|---|---|---|
|||358|
|||Total
funds
2022
£000
487
378|
|||865|
||||
|**Unrestricted**
**funds**
**2023**
**£000**
Dividend income
56
TOTAL 2022
21|**Restricted**
**funds**
**2023**
**£000**
-
1|**Total**
**funds**
**2023**
**£000**
**56**
22|Total
funds
2022
£000
22|
|---|---|---|---|
|||||
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **8. OTHER INCOMING RESOURCES**
|Profit on disposal of assets
TOTAL 2022|**Unrestricted**
**funds**
**2023**
**£000**
27
512|**Total**
**funds**
**2023**
**£000**
**27**
512|Total
funds
2022
£000
512|
|---|---|---|---|
|||||
## **9. EXPENDITURE ON RAISING FUNDS COSTS OF RAISING VOLUNTARY INCOME**
|**Unrestricted**
**funds**
**2023**
**£000**
Costs of raising voluntary income
14
Wages and salaries
202
National insurance
28
Pension costs
26
270
TOTAL 2022
164|**Restricted**
**funds**
**2023**
**£000**
4
23
-
-
27
-|**Total**
**funds**
**2023**
**£000**
**18**
**225**
**28**
**26**
**297**
164|Total
funds
2022
£000
32
113
11
8|
|---|---|---|---|
||||164|
|||||
Page 32
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. EXPENDITURE ON RAISING FUNDS (CONTINUED)**
## **SWT TRADING EXPENSES**
|**Unrestricted**
**funds**
**2023**
**£000**
Trading expenses
427
Wages and salaries
386
National insurance
34
Pension costs
33
880
TOTAL 2022
650|**Total**
**funds**
**2023**
**£000**
**427**
**386**
**34**
**33**
**880**
650|Total
funds
2022
£000
331
282
20
17|
|---|---|---|
|||650|
||||
## **10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£000**
Conservation Management & Maintenance of
Reserves
1,351
Education & Community Projects
477
Membership
344
IT Support & Maintenance
70
2,242
TOTAL 2022
1,738|**Restricted**
**funds**
**2023**
**£000**
1,740
82
110
-
1,932
1,592|**Total**
**2023**
**£000**
**3,091**
**559**
**454**
**70**
**4,174**
3,330|Total
2022
£000
2,504
425
269
132|
|---|---|---|---|
||||3,330|
|||||
Page 33
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES (CONTINUED)**
## **Summary by fund type (continued)**
In 2023 Conservation Management & Maintenance Reserves includes a contribution of £65,840 (2022 - £69,760) to the Royal Society of Wildlife Trusts (RSWT) the Federation's central charity. This enables RSWT to act on the collective behalf of all individual Wildlife Trusts including but not limited to in respect of Government legislation, i.e. Agricultural Bill, Environment Bill, Marine Act; and provision of shared services including advertising, and Customer Relationship Management.
## **11. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Conservation Management & Maintenance of
Reserves
Education & Community Projects
Membership
IT Support & Maintenance
TOTAL 2022|**Activities**
**undertaken**
**directly**
**2023**
**£000**
2,914
482
441
-
3,837
3,050|**Support**
**costs**
**2023**
**£000**
177
77
13
70
337
280|**Total**
**funds**
**2023**
**£000**
**3,091**
**559**
**454**
**70**
**4,174**
3,330|Total
funds
2022
£000
2,504
425
269
133|
|---|---|---|---|---|
|||||3,330|
||||||
Page 34
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **ANALYSIS OF SUPPORT COSTS**
|**Governance**
**costs**
**2023**
**Support**
**costs**
**2023**
**£000**
**£000**
IT support
-
70
Office costs
-
140
Governance costs
15
-
Finance costs
112
-
127
210
TOTAL 2022
147
133
**12.**
**AUDITORS' REMUNERATION**
Fees payable to the Trust's auditor for the audit of the Trust's annual
accounts
Fees payable to the Trust's auditor in respect of:
All non-audit services not included above|**Total**
**funds**
**2023**
**£000**
**70**
**140**
**15**
**112**
**337**
280
**2023**
**£000**
**9**
**2**|Total
funds
2022
£000
27
106
13
134|
|---|---|---|
|||280|
|||2022
£000
14
-|
## **13. STAFF COSTS**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2023**
**£000**
**2,393**
**226**
**204**
**2,823**|Group
2022
£000
1,902
165
137
2,204|**Trust**
**2023**
**£000**
**2,007**
**192**
**171**
**2,370**|Trust
2022
£000
1,620
145
120|
|---|---|---|---|---|
|||||1,885|
Page 35
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. STAFF COSTS (CONTINUED)**
The average number of persons employed by the Trust during the year was as follows:
|**Group**
Group
**2023**
2022
**No.**
No.
Charitable Activities
**86**
80
Cost of generating funds
**12**
9
Support costs
**6**
7
**104**
96
The average headcount expressed as full-time equivalents was:
**Group**
Group
**2023**
2022
**No.**
No.
Total
**96**
73|**Trust**
**2023**
**No.**
**56**
**12**
**6**
**74**
**Trust**
**2023**
**No.**
**71**|Trust
2022
No.
54
9
7|
|---|---|---|
||||
|||70|
|||Trust
2022
No.
53|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**Group**|Group|
|---|---|---|---|
|||**2023**|2022|
|||**No.**|No.|
|In the band £60,001|- £70,000|**1**|-|
|In the band £70,001|- £80,000|**1**|1|
The key management personnel (KMP) includes the Trustees and those Members of staff who are senior management personnel to whom the Trustees have delegated responsibility in the day-to-day running of the charity. T he total amount of remuneration (including Employers NIC and Pension contributions) received by the 7 Members of the KMP for their services was £398,538 (2022 - £396,285).
## **14. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).
Page 36
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **15. TANGIBLE FIXED ASSETS**
## **GROUP**
|**COST OR VALUATION**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|**Long-term**
**leasehold**
**property**
**£000**
**4,271**
**161**
**-**
**4,432**
**978**
**149**
**-**
**1,127**
**3,305**
3,293|**Plant and**
**machinery**
**£000**
**1,781**
**204**
**(28)**
**1,957**
**1,382**
**163**
**(28)**
**1,517**
**440**
399|**Other fixed**
**assets**
**£000**
**537**
**3**
**-**
**540**
**473**
**22**
**-**
**495**
**45**
64|**Total**
**£000**
**6,589**
**368**
**(28)**
**6,929**
**2,833**
**334**
**(28)**
**3,139**
**3,790**
3,756|
|---|---|---|---|---|
Page 37
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **15. TANGIBLE FIXED ASSETS (CONTINUED)**
## **TRUST**
|**COST OR VALUATION**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|**Long-term**
**leasehold**
**property**
**£000**
**4,271**
**161**
**-**
**4,432**
**978**
**149**
**-**
**1,127**
**3,305**
3,293|**Plant and**
**machinery**
**£000**
**1,683**
**201**
**(28)**
**1,856**
**1,292**
**159**
**(28)**
**1,423**
**433**
391|**Other fixed**
**assets**
**£000**
**537**
**3**
**-**
**540**
**473**
**22**
**-**
**495**
**45**
64|**Total**
**£000**
**6,491**
**365**
**(28)**
**6,828**
**2,743**
**330**
**(28)**
**3,045**
**3,783**
3,748|
|---|---|---|---|---|
Page 38
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **16. HERITAGE ASSETS**
## **GROUP AND TRUST**
## **Assets recognised at cost**
|Carrying value at 1 April 2022
Additions|**Wildlife**
**reserves**
**2023**
**£000**
15,728
3,309|
|---|---|
|||
||19,037|
There were no proceeds from disposals and no impairment charges in the past 5 years.
## **Acquisition and management of wildlife reserves**
Suffolk Wildlife Trust manages 51 nature reserves extending to 6,821 acres. Approximately 4,733 acres are freehold owned and almost 1,258 acres are leased on terms ranging from 25 years to 999 years. The balance is managed under a variety of different arrangements, some contractual, some by private agreement with the landowner and the remainder on Farm Business Tenancies. The landholding encompasses the complete spectrum of land-cover types found in Suffolk ranging from coastal habitats to woodlands; grassland and agricultural land. Over two-thirds of the landholding is designated in one form or another for its wildlife interest while a third is internationally designated.
The acquisition and management of nature reserves is an integral part of the Trust's strategy to protect Suffolk's wildlife. Our nature reserves are freely accessible for people to see wildlife amongst Suffolk's finest habitats and landscapes. The Trust is responsible for managing some of the most wildlife-rich habitats in Suffolk that are also places of great natural beauty. The Trust will continue to acquire such habitats as well as restoring high quality habitat on land with suitable potential. Each acquisition opportunity will be assessed on its merits. Protected designated sites (SSSIs) are of interest where there is additional benefit from being in Trust ownership. Unprotected County Wildlife sites or other land with the potential for habitat restoration or creation will be considered but such Sites must meet other key criteria.
Page 39
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **16. HERITAGE ASSETS (CONTINUED)**
## **Analysis of heritage asset transactions**
## **GROUP AND TRUST**
|**PURCHASES**
Wildlife reserves - cost
Wildlife reserves - transfers
**TOTAL ADDITIONS**
**DISPOSALS**
Wildlife reserves
**TOTAL DISPOSALS**|**2023**
**£000**
3,309
-
3,309
-
-|**2022**
**£000**
2,661
71
2,732
-
-|**2021**
**£000**
163
-
163
-
-|**2020**
**£000**
31
-
31
(1)
(1)|**2019**
**£000**
2,207
-|
|---|---|---|---|---|---|
|||||||
||||||2,207|
||||||-|
|||||||
||||||-|
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
**SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
# **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **17. FIXED ASSET INVESTMENTS**
## **PRINCIPAL SUBSIDIARIES**
The following was a subsidiary undertaking of the Trust:
**Name Company Registered office or principal Principal activity number place of business** S.W.T. Trading Limited 02221844 Brooke House, The Green, Sale of goods and Ashbocking, Ipswich, Suffolk, provision of IP6 9JY consultancy services **Class of Holding Included in shares consolidation** Ordinary 100% Yes
The financial results of the subsidiary for the year were:
||**Name**|**Income**|**Expenditure**|**Expenditure**|**Profit/(Loss)**|**Profit/(Loss)**|**Net assets**|
|---|---|---|---|---|---|---|---|
|||**£**||**£**||**/ Surplus/**|**£**|
|||||||**(Deficit) for**||
|||||||**the year**||
|||||||**£**||
||S.W.T. Trading Limited|**896,345**||**(885,566)**||**10,779**|**40,971**|
|**18.**|**STOCKS**|||||||
|||**Group**||Group||**Trust**|Trust|
||||**2023**|2022||**2023**|2022|
||||**£000**|£000||**£000**|£000|
||Finished goods and goods for resale||**44**||41|**11**|11|
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **19. DEBTORS**
|**DUE WITHIN ONE YEAR**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Grants receivable|**Group**
**2023**
**£000**
**477**
**-**
**905**
**10**
**1,090**
**2,482**|Group
2022
£000
292
-
760
66
821
1,939|**Trust**
**2023**
**£000**
**297**
**180**
**903**
**6**
**1,090**
**2,476**|Trust
2022
£000
187
3
760
39
821|
|---|---|---|---|---|
||||||
|||||1,810|
Included in other debtors are unrealised legacies of £834,723 (2022 - £701,240).
In the prior year, grants receivable of £189,867 related to grant entitlement towards capital expenditure in the Gateway to Southern Broads (HLF) Project until 2022.
## **20. CURRENT ASSET INVESTMENTS**
|Listed investments
Unlisted investments|**Group**
**2023**
**£000**
**1,368**
**461**
**1,829**|Group
2022
£000
1,396
478
1,874|**Trust**
**2023**
**£000**
**1,368**
**461**
**1,829**|Trust
2022
£000
1,395
479|
|---|---|---|---|---|
||||||
|||||1,874|
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2023**
**£000**
**1,103**
**137**
**177**
**-**
**159**
**1,576**|Group
2022
£000
-
146
92
5
109
352|**Trust**
**2023**
**£000**
**1,103**
**122**
**152**
**-**
**105**
**1,482**|Trust
2022
£000
-
128
63
-
101|
|---|---|---|---|---|
|||||292|
In July 2022, The Trust drew down on a loan amounting to £1,303k. Interest is charged at 0% per annum. The loan is due to be repaid by August 2024 with repayments due quarterly. Payments made during the year amounted to £200k.
Repayments are variable as they are based on the value of fundraising, donations and legacy income received by the Trust and as such, should the Trust be successful in raising the required funding, the lendor is legally entitled to repayment of the balance within the next 12 months.
The Trust expect to have paid this balance off within the next 12 months and therefore have included the full balance within one year.
|Deferred income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods|**Group**
**2023**
**£000**
**54**
**101**
**(54)**
**101**|Group
2022
£000
5
54
(5)
54|**Trust**
**2023**
**£000**
**47**
**69**
**(47)**
**69**|Trust
2022
£000
-
47
-|
|---|---|---|---|---|
|||||47|
Deferred income relates to course fees, progammes and grazing rent paid in advance.
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DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**UNRESTRICTED**
**FUNDS**
**DESIGNATED**
**FUNDS**
Designated
Funds
**GENERAL**
**FUNDS**
General Funds
Wildlife reserves
and equipment
**TOTAL**
**UNRESTRICTED**
**FUNDS**
**RESTRICTED**
**FUNDS**
Bequests &
donations
Wildlife
Reserves &
Equipment
Gunton Meadow
Pecks Piece
Gunton Warren
Carlton Marshes
Conservation
management
Reserves
maintenance|**Balance at 1**
**April 2022**
**£000**
**2,009**
**1,732**
**3,696**
**5,428**
**7,437**
**3,715**
**15,788**
**93**
**70**
**5**
**358**
**551**
**136**|**Income**
**£000**
**-**
**3,459**
**-**
**3,459**
**3,459**
**685**
**-**
**-**
**-**
**-**
**10**
**990**
**716**|**Expenditure**
**£000**
**-**
**(3,297)**
**(96)**
**(3,393)**
**(3,393)**
**(58)**
**(238)**
**-**
**-**
**-**
**(353)**
**(546)**
**(622)**|**Transfers**
**in/out**
**£000**
**459**
**(459)**
**208**
**(251)**
**208**
**(3,355)**
**3,469**
**(93)**
**(70)**
**-**
**(15)**
**-**
**(144)**|**Gains/**
**(Losses)**
**£000**
**-**
**(44)**
**-**
**(44)**
**(44)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31 March**
**2023**
**£000**
**2,468**|
|---|---|---|---|---|---|---|
|||||||**1,391**
**3,808**|
|||||||**5,199**|
|||||||**7,667**|
|||||||**987**
**19,019**
**-**
**-**
**5**
**-**
**995**
**86**|
Page 44
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - CURRENT YEAR (continued)**
|Education &
community
projects
Other
**TOTAL OF**
**FUNDS**|**Balance at 1**
**April 2022**
**£000**
**83**
**59**
**20,858**
**28,295**|**Income**
**£000**
**142**
**-**
**2,543**
**6,002**|**Expenditure**
**£000**
**(82)**
**(59)**
**(1,958)**
**(5,351)**|**Transfers**
**in/out**
**£000**
**-**
**-**
**(208)**
**-**|**Gains/**
**(Losses)**
**£000**
**-**
**-**
**-**
**(44)**|**Balance at**
**31 March**
**2023**
**£000**
**143**
**-**|
|---|---|---|---|---|---|---|
|||||||**21,235**|
|||||||**28,902**|
Page 45
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - PRIOR YEAR**
|**UNRESTRICTED**
**FUNDS**
**DESIGNATED**
**FUNDS**
Designated
Funds - all
funds
**GENERAL**
**FUNDS**
**(as restated)**
General Funds
Wildlife reserves
and equipment
**TOTAL**
**UNRESTRICTED**
**FUNDS**
**RESTRICTED**
**FUNDS**
Bequests &
donations
Wildlife
Reserves &
Equipment
Gunton Meadow
Pecks Piece
Gunton Warren
Carlton Marshes
Conservation
management
Reserves
maintenance|Balance at
1 April 2021
£000
2,009
1,006
2,780
3,786
5,795
3,780
14,145
96
73
8
264
191
340|Income
£000
-
3,461
-
3,461
3,461
483
1,900
-
-
-
413
617
614|Expenditure
£000
-
(2,474)
(79)
(2,553)
(2,553)
(27)
(201)
(3)
(3)
(3)
(300)
(257)
(739)|Transfers
in/out
(restated)
£000
-
(320)
995
675
675
(521)
(56)
-
-
-
(19)
-
(79)|Gains/
(Losses)
£000
-
59
-
59
59
-
-
-
-
-
-
-
-|Balance at
31 March
2022
(restated)
£000
2,009
1,732
3,696|
|---|---|---|---|---|---|---|
|||||||5,428
7,437
3,715
15,788
93
70
5
358
551
136|
Page 46
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - PRIOR YEAR (CONTINUED)**
|Education &
community
projects
Other
**TOTAL OF**
**FUNDS**|Balance at
1 April 2021
£000
35
-
18,932
24,727|Income
£000
106
59
4,192
7,653|Expenditure
£000
(58)
-
(1,591)
(4,144)|Transfers
in/out
£000
-
-
(675)
-|Gains/
(Losses)
£000
-
-
-
59|Balance at
31 March
2022
£000
83
59|
|---|---|---|---|---|---|---|
|||||||20,858|
|||||||28,295|
Page 47
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
**(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **22. STATEMENT OF FUNDS (CONTINUED)**
## **Purposes of restricted funds**
Bequests and donations - Bequest restricted by the donor for specific purposes, primarily land purchase and restoration.
Wildlife Reserves & Equipment - This represents our Wildlife Reserves and Equipment that are restricted assets.
Gunton Meadow - Section 106 mitigation funds to draw down for reserve management. During the year, transfers have been made from restricted funds to unrestricted funds where the original contractual restrictions have expired or been met and the remaining funds have therefore become unrestricted.
Pecks Piece - Forestry Commission Woodland creation grant. During the year, transfers have been made from restricted funds to unrestricted funds where the original contractual restrictions have expired or been met and the remaining funds have therefore become unrestricted.
Gunton Warren - Reserve management costs paid in advance by East Suffolk Council.
Carlton Marshes - Grants for habitat work at Carlton Marshes including from Defra Green recovery Fund, Highways England.
Conservation management - Grants & donations for specific species projects (including dormouse, water vole, swift, hedgehog) osprey introduction project, pond creation & restoration projects.
Reserve maintenance - Grants for specific projects on reserves and annual management contract for Trimley marshes from Felixstowe docks, as the reserve was created as compensation for habitat destroyed.
Education & Community projects - Grants & donations for specific people engagement projects including projects with teenagers, Wilder Suffolk book printing, projects in Ipswich and Woodbridge, holiday clubs.
Other - Donations to go towards supporting areas that have struggled due to COVID-19.
## **Designated Funds**
Unrestricted funds above the free reserves level may be designated to specific projects particularly the acquisition of land as nature reserves, strategic capital investment and large-scale projects.
The Trustees will consider the funding of projects outside the level of restricted fund awards which they feel are of merit and which they wish to support in line with their objectives.
## **General funds**
The Wildlife Reserve & Equipment fund represents our Wildlife Reserves and Equipment that are unrestricted assets.
## **Prior year restatement**
During the prior year transfers between unrestricted fixed assets and general funds had not been correctly allocated, amounting to £835,000. The opening balances have therefore been restated. The total unrestricted funds remains the same and therefore there is no impact on the balance sheet or the income statement for the prior or current year.
Page 48
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **23. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Unrestricted**
**funds**
**2023**
**£000**
Tangible fixed assets
589
Heritage assets
3,219
Current assets
4,271
Creditors due within one year
(412)
7,667
TOTAL 2022
7,437|**Restricted**
**funds**
**2023**
**£000**
3,201
15,818
3,380
(1,164)
21,235
20,858|**Total**
**funds**
**2023**
**£000**
**3,790**
**19,037**
**7,651**
**(1,576)**
**28,902**
28,295|Total
funds
2022
£000
3,756
15,728
9,163
(352)|
|---|---|---|---|
||||28,295|
## **RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 24. ACTIVITIES**
|Net income for the year (as per Statement of Financial Activities)
**ADJUSTMENTS FOR:**
Depreciation charges
Gains/(losses) on investments
Dividends, interests and rents from investments
Profit on the sale of fixed assets
Increase in stocks
Decrease/(increase) in debtors
Increase in creditors
Donated assets
**NET CASH PROVIDED BY OPERATING ACTIVITIES**|**Group**
**2023**
**£000**
**607**
**334**
**44**
**(56)**
**(27)**
**(3)**
**(543)**
**121**
**-**
**477**|Group
2022
£000
**3,568**
283
(59)
(22)
(512)
(3)
3,228
22
(1,900)
4,605|
|---|---|---|
Page 49
DocuSign Envelope ID: ECF2977E-D65B-4AE2-A071-745518F0B80D
## **SUFFOLK WILDLIFE TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **25. ANALYSIS OF CASH AND CASH EQUIVALENTS**
|Cash in hand
**TOTAL CASH AND CASH EQUIVALENTS**|**Group**
**2023**
**£000**
**3,296**
**3,296**|Group
2022
£000
5,309|
|---|---|---|
||||
|||5,309|
## **26. ANALYSIS OF CHANGES IN NET DEBT**
|Cash at bank and in hand
Debt due within 1 year
Liquid investments|**At 1 April**
**2022**
**£000**
**5,309**
**-**
**1,874**
**7,183**|**Cash flows**
**£000**
**(2,013)**
**(1,103)**
**-**
**(3,116)**|**Other non-**
**cash**
**changes**
**£000**
**-**
**-**
**(45)**
**(45)**|**At 31 March**
**2023**
**£000**
**3,296**
**(1,103**
**1,829**|
|---|---|---|---|---|
|||||**4,022**|
## **27. PENSION COMMITMENTS**
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £203,515 (2022 - £137,818). Contributions of £NIL (2022 - £16,922) were payable to the fund at the balance sheet date and are included in creditors.
## **28. MEMBERS' LIABILITY**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
## **29. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year. During the prior year, the previous Chair of Trustees, Nigel Farthing, was a partner at Birketts, one of the legal advisors of the Trust. During the prior year professional fees of £11,319 were paid to that firm, the majority of which were in connection with property transactions. At 31 March 2022 there was an amount of £6,979 due to Birketts.
Page 50