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2024-12-31-accounts

Charity number: 263103

THE OTTER TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

THE OTTER TRUST

CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 24

THE OTTER TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Roger Walsh Ben Potterton Andrew Goodall Charity registered number 263103 Principal office The Earsham Wetland Centre Old Harleston Road Earsham Bungay Suffolk NR35 2AF Independent Examiner C B Accounts Ltd Harvest Cottage Airfield Road Fersfield IP22 2FF Accountant Berry & Warren Limited 54 Thorpe Road Norwich Norfolk NR1 1RY

Page 1

THE OTTER TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2023 to 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and 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 published on 16 July 2014.

Objectives and activities

a. Objects and Activities for the public benefit

The Trust has reviewed it’s aims and objectives, and the Trustees have decided to make no changes.

The main object of the Trust is advancing the education of the public in conservation of the natural environment generally, with an emphasis on scientific study and research, in particular of otters.

The main activity of the Trust is to manage, conserve and preserve the wildlife characteristics of wetland habitat for otters and other wetland species, in an environmentally friendly and sustainable way.

The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning future activities and setting the grant making policy for the year.

b. Grant-making policies

The Trust has established its grant making policy to achieve its objects for the public benefit. The Trust's aim is to improve the education of the public in conservation and support scientific study and research into conservation areas.

The Trust invites applications for research grants from institutions and individuals specialising in conservation.

An initial submission is requested from potential applicants which is then reviewed. If the project fits with the charity's objectives a full business plan and financial information needs to be provided. The Trustees then consider all funding requests and may request further information if they consider it necessary.

Page 2

THE OTTER TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance

2024 is my first full year as chairman of The Otter Trust, enabling me to follow the weekly management of the charity throughout the seasons. A year that started with extreme flooding at our Dickleburgh and Earsham sites, included some fantastic community events, partnerships with schools and universities, a wide range of collaboration with partner organisations and some outstanding habitat creation and enhancement throughout the Waveney Valley of Norfolk and Suffolk.

During 2024 I was also able to witness the international conservation commitment of The Otter Trust, starting with a trip marking 50 years of the Trusts work in Sri Lanka. As part of our ongoing support for wetland conservation in West Africa, we supported the Osprey Leadership Foundation and Kartong Bird Observatory to enable Emmanuel Jatta to complete some environmental training in the UK, spending a 5 week placement at our Norfolk base.

Another highlight was the completion of a land swap at Dickleburgh, that enabled us to own all of the land within the flood ‘bowl’ of the Moor. The new fields form part of the wider Bronze Age settlement at Dickleburgh and we hope that collaborations with Historic England, Norwich Museum and Natural England will enable us to fully investigate the buried history within this site.

Our plant conservation projects were reviewed and increased this year. With the support of David Appleton, our regional Black Poplar Tree Project became a national initiative, in partnership with the National Trust and Tree Council. We will start 2025 with a national working group and a new collaboration with the Wellcome Sanger Institute.

We completed our 2024/25 Capital Works application with support from Norfolk FWAG and look forward to spending £170,000 on improvements to both our Earsham and Dickleburgh sites in the coming year.

I would like to thank Andrew Goodall for his support and guidance during his time as an interim trustee and welcome Tom Proctor as an incoming trustee. Tom has been associated to The Otter Trust for many years and has stepped in on numerous occasions to support our conservation projects and provide animal management advice.

Dickleburgh Moor

The extensive flooding of the Waveney Valley in December 2023, resulted in the breaching of the internal drainage board flood bank and approximately 60 acres of flooding across the site. Following a site inspection in January 2024, we worked with partner organisations to pump the flood water back into Dickleburgh stream, during a process that took approximately 3 months to complete. Although the accumulation of silt and debris from the flooding was frustrating, the habitat that it created was appreciated by a wide range of birds, giving us one of the highest species counts that we have achieved at this site. Avian highlights throughout the year included Greater Scaup, Temminicks Stint, Knot and Black Tern.

The Norfolk Fungus Study Group visited in May, with 75 species being recorded, including six that were new species for the county: Epichloe bromicola, Mastigosporium album, Psathyrella longicauda, Pyrenopeziza polygoni, Scutellinia olivascens and Stictis arundinacea.

Page 3

THE OTTER TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance (continued)

The Norfolk and Norwich Naturalist Society also visited during May, with James Emerson and Stewart Wright discovering another new insect for the county: Aphalaria maculipennis. In June we hosted the Trees Outside of Woodland meeting for Norfolk County Council, Defra and the Tree Council. Our team were able to show the group our tree conservation projects and explain the importance of wetland trees.

During July we hosted a group from Norfolk and Suffolk County Council to discuss our projects and the proposals for the regional Local Nature Strategy. We also hosted a group from Butterfly Conservation, Dutch Butterfly Conservation, Natural England and Defra to discuss the possibility of collaborating on a number of invertebrate conservation projects.

On the 22nd July we held an outside performance of Wind in the Willows for our neighbours and supporters, taking the opportunity to plant a Black Poplar tree in memory of our former chairman Sir Edward Evans-Lombe.

In September we hosted the Suffolk and Norfolk Tree Warden meeting for the Tree Council, with lectures from the John Innes Institute and guided tours of the site. We also hosted a group from the Broads Authority to produce a 360-degree filming trial and welcomed Robert Still from Princetown University Publishing, who photographed some of our rare wetland plants for an upcoming publication.

In October the Norfolk Bryophytes Group visited and recorded 23 mosses and 4 liverworts on our former arable fields and wet woodland, many new for the site and South Norfolk. Professor Simon Blockley brought a group of students from Royal Holloway University of London to continue geographical surveys.

Other visiting groups this year included the Suffolk Wildlife Trust Valley Fens and Waveney Heritage.

Earsham Wetland Centre

Our Wetland Centre was used by visiting groups throughout the year. We hosted several groups from local primary schools, including 165 pupils from Harleston Primary Academy and held a free educational open day, that was attended by several hundred families. We would like to thank the educational team from the Broads Authority for helping us with the educational visits and open day. During the year a new polytunnel, enabling us to expand our community tree nursery project and give us space to grow an additional 2000 Black Poplar saplings. A second tunnel was erected to maintain our collection of rare fen plants, this additional space was used to grow plants to exhibit at the Suffolk Show and propagate Pulmonaria obscura plants for our species recovery project. We would like to thank the Bishop of Suffolk for supporting the Pulmonaria project and encouraging churchwardens from across the Diocese of Suffolk to engage with our project and allow us to plant these endangered plants into suitable church yards.

We completed otter surveys throughout the Waveney Valley and within the catchments of the north Suffolk Rivers. We are grateful to Tom Proctor for completing otter surveys across West Norfolk, updating our records and providing additional reports to the regional mammal recorders.

Page 4

THE OTTER TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

a. Investment policy and performance

All funds held on account are with Lloyds Bank. The Trustees have considered other investment options but believe the safest, low risk option in the current economic climate is to hold funds on account rather than investing in stocks and shares. Funds also need to be readily accessible for when grant making opportunities arise.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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

A reserves policy exists to sufficiently maintain the two Otter Trust properties for a sufficient period.

Both sites are prone to flooding and animal disease is also a consideration. The reserves policy will also enable us to bid for support grants from other organisations that are payable upon receipt.

There are no concerns about the charity's ability to continue to operate and total reserves held at the year end were £659,681 (2023: £708,703).

The free reserves of the charity at 31 December 2024 (being the unrestricted current assets, excluding livestock, less unrestricted current liabilities) amount to £31,857 (2023: £69,857).

All the funds of the Trust are unrestricted at the year end.

c. Financial Results

Income for the year was £114,411 (2023: £143,617). Of this, £46,813 was from donations and legacies (2023: £127,938)

A deficit of £49,022 (2023: £120,215) was incurred in the year.

d. Financial risk management objectives and policies

The Trustees continue to review the major risks to which the Charity is exposed, and are establishing systems to mitigate any risks not already covered by the Charity's existing systems and risk management strategies and controls.

The Trustees have identified the key risks as damage to land/property at Earsham and Dickleburgh. Insurance at both sites is considered to be sufficient.

Structure, governance and management

a. Constitution

The Otter Trust is a registered charity, number 263103, and is constituted under a Scheme.

Page 5

THE OTTER TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Scheme.

c. Organisational structure

The Trust was originally established by a trust deed which was registered with the Charity Commission on 26 October 1971.

The Trust is governed by the scheme dated 2003 which replaces the original trust deed, and the scheme was amended in 2004 and 2006.

All trustees are issued with the Charity Commission booklet setting out the duties and responsibilities of trustees. New trustees also receive the latest financial statements and management accounts, and other briefing documentation explaining the organisational structure and practices, and are invited to attend the offices.

The current Trustees are actively seeking new Trustees to join them. Candidates are expected to have a good wildlife knowledge and experience.

d. Pay policy for key management personnel

The Trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.

All Trustees give of their time freely in their role as trustee. One Trustee was remunerated in the year for additional services provided to the Charity. Details of trustee expenses and related party transactions are disclosed in note 10 and 18 to the accounts.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

Page 6

THE OTTER TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Roger Walsh Chairman of Trustees

Date: 29/10/25

Page 7

THE OTTER TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's report to the Trustees of The Otter Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024 which consists of the statement of financial activities, balance sheet and the related notes.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. 4. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 8

THE OTTER TRUST

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 07/11/2025

Claire Butler MAAT – C B Accounts Ltd Harvest Cottage Airfield Road Fersfield IP22 2FF

Page 9

THE OTTER TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Donations and legacies
3
Grants
5
Interest
4
Other income
5
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 62,814
Unrestricted
funds
2024
£
46,813
527
4,257
114,411
163,433
163,433
(49,022)
708,703
(49,022)
659,681		 Total
funds
2024
£
46,813
62,814
527
4,257
114,411
163,433
163,433
(49,022)
708,703
(49,022)
659,681		 Total
funds
2023
£
127,938
13,425
1,253
1,000
143,617
263,832
263,832
(120,215)
828,918
(120,215)
708,703

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 25 form part of these financial statements.

Page 10

THE OTTER TRUST

BALANCE SHEET AS AT 31 DECEMBER 2024

Fixed assets
Note
Tangible assets
11
Current assets
Stocks
12
Debtors
Investments
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total net assets
Charity funds
Unrestricted funds
14
Total funds		 60,917
-
-
31,857
92,773
(32,216)		 2024
£
599,123
599,123
60,557
659,681
659,681
659,681		 60,917
-
-
69,857
130,774
(29,499)		 2023
£
607,428
607,428
101,275
708,703
708,703
708,703

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Roger Walsh Trustee Date: 30/10/25

The notes on pages 12 to 24 form part of these financial statements.

Page 11

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

The Otter Trust is a general purpose charity, established in England and Wales with Charity Reference Number 263103. The principal address is The Earsham Wetland Centre, Old Harleston Road, Earsham, Bungay, Suffolk, NR35 2AF.

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 Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Otter 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.

2.2 Going concern

The Trustees have reviewed the level of cash and investments held at the year end alongside movements in value since the year end and considered the level of anticipated expenditure. Based on this, they have a reasonable expectation that the Charity can meet its liabilities as they fall due and have therefore prepared the accounts on a going concern basis.

Page 12

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken on a case by case basis as the earlier of the date on which the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. If the legacy is in the form of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of the asset being able to be reliably measured and title to the asset has passed to the charity. Where legacies have been notified or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Grants and donations are only included in the SoFA when the general income recognition criteria are met.

Sales are included on the date of sale.

Interest on funds held in deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT and is accounted for on an accruals basis.

2.5 Government grants

Government grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.6 Tangible fixed assets and depreciation

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.

Page 13

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life..

Depreciation is provided on the following basis:

Land - not depreciated Building and enclosures - 10% reducing balance Plant and machinery - 20% reducing balance Motor vehicles - 10% reducing balance Fixtures and fittings - 15% reducing balance Computer equipment - 25% reducing balance Other equipment - 20% reducing balance

2.7 Stocks

Stocks held for sale are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Stock includes animals and birds, carried at cost, which are not 'held for sale'.

2.8 Investments

Investments in cash held on deposit are measured at fair value.

2.9 Debtors

Trade and other short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad debt and doubtful debts.

2.10 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 one month or less from the date of acquisition or opening of the deposit or similar account.

2.11 Creditors

Creditors 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. Creditors are normally recognised at their settlement amount after allowing for any trade discount due.

Page 14

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.12 Financial instruments

The Charity 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.

2.13 Fund accounting

Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity 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.

Page 15

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies

Donations
Legacies
Donations
Legacies
Interest received
Interest received		 Unrestricted
funds
2024
£
580
46,233
46,813
Unrestricted
funds
2023
£
125,950
1,988
127,938
Unrestricted
funds
2024
£
527		 Restricted
funds
2024
£
-
-
-
Restricted
funds
2023
£
-
-
-
Total
funds
2024
£
527		 Total
funds
2024
£
580
46,233
46,813
Total
funds
2023
£
125,950
1,988
127,938
Total
funds
2023
£
1,253

4. Interest received

Page 16

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. Other incoming resources

Unrestricted
funds
2024
£
Total
funds
2024
£
Grants
62,814
62,814
Other Income
4,257
4,257
67,071
67,071
The charity has received grant funding from the following institutions this financial year:
Natural England
17,200
Norfolk County Council
9,926
Natural England Species Recovery Program
31,688
Northumbrian Water
4,000
62,814
Other Income Breakdown
UK Power Networks
455
Rental Income
950
Rural Payment Agency
2,852
4,257		 Total
funds
2023
£
13,425
-
13,425

6. Analysis of grants

The charity did not make any charitable grants/donations to other institutions during the 2024 financial year

Page 17

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Analysis of expenditure by activities

Activities
undertaken
directly
2024
£
Charitable activities
153,779
Activities
undertaken
directly
2023
£
Charitable Activities
223,588
Analysis of direct costs
Salaries and pension costs
Depreciation
Other direct costs
Animal upkeep and welfare costs
Insurance costs
Repairs, maintenance, property costs and equipment
Subcontractor costs		 Grant
funding of
activities
2024
£
-
Grant
funding of
activities
2023
£
14,990		 Support
costs
2024
£
9,654
Support
costs
2023
£
25,254
Total
funds
2024
£
90,905
16,470
16,637
13,387
7,755
7,489
1,136
153,779		 Total
funds
2024
£
163,433
Total
funds
2023
£
263,719
Total
funds
2023
£
109,681
18,918
14,487
30,843
7,059
18,388
24,213
223,588

Page 18

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Bank charges
Accountancy & Audit Fees
Motor and travelling expense
8.
Independent examiner's remuneration
Fees payable to the Charity's independent examiner		 Total
funds
2024
£
318
486
8,850
9,654
2024
£
-		 Total
funds
2023
£
632
6,041
18,851
11,398
2023
£
3,000
9.
Staff costs
Wages and salaries
Pension contributions
The average number of persons employed by the Charity during the year was
Average number of employees during the year		 2024
£
87,138
3,767
90,905
as follows:
2024
No.
3		 2023
£
103,474
6,207
109,681
2023
No.
3

Page 19

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

The Trust considers its key management personnel to comprise the trustees.

The total employment benefits including employer pension contributions of the key management personnel were £35,863 (2021: £29,242).

10. Trustees' remuneration and expenses

During the year, Ben Potterton was paid remuneration from an employment with the Charity for his services in providing onsite support. The value of Trustees' remuneration and other benefits was as follows:

2024 2023
£ £
Ben Potterton Remuneration 35,000 35,000
Pension contributions paid 863 863

During the year ended 31 December 2024, no trustees claimed any expenses

Page 20

THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions/Deductions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
land (at
cost)
£		 Building &
Enclosures
£
200,567
6,988
207,555
164,832
3,574
168,406
39,149
35,735		 Plant and
machinery
£
134,497
-
134,497
89,644
8,971
98,615
35,882
44,853		 Motor
vehicles
£
18,995
-
18,995
13,802
519
14,321
4,674
5,193		 Fixtures
and
fittings
£
55,766
(940)
54,826
44,277
1,723
46,000
8,826
11,489		 Computer
& office
equipment
£
7,977
279
8,256
5,991
496
6,487
1,769
1,986		 Other
equipment
£
6,829
81
6,910
894
1,187
2,081
4,748
5,935		 Total
£
926,868
8,166
502,237
1,757
503,994
-
-
-
503,994

502,237
935,033
319,440
16,470
335,910
599,123
607,428

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THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. Stocks

Livestock
Coffee shop, farm shop and gift shop		 2024
£
60,370
547
60,917		 2023
£
60,370
547
60,917

Livestock included in stocks is held to further the charity's purpose and is not for sale.

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors		 2024
£
-
22,684
9,532
32,216		 2023
£
2,100
17,906
9,493
29,499

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THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Statement of funds - prior year
Balance at
1 January
2023
£
Unrestricted funds
General funds
828,918		 Balance at 1
January
2024
£
708,703
Income
£
143,617		 Income
£
144,411
Expenditure
£
(263,832)		 Expenditure
£
(163,433)
Transfers
in/out
£
-		 Balance at
31
December
2024
£
659,681
Balance at
31
December
2023
£
708,703

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THE OTTER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Current assets
Creditors due within one year
Ttl		 Unrestricted
funds
2024
£
599,123
92,773
(32,216)
659,681
Unrestricted
funds
2023
£
607,428
130,774
(29,499)
708,703		 Total
funds
2024
£
599,123
92,773
(32,216)
659,681
Total
funds
2023
£
607,428
130,774
(29,499)
708,703

Total

16. Related party transactions

B Potterton provided onsite support to the charity during the year and remuneration of £35,863 (including national insurance and pension contributions) was paid in respect of this (see also note 10). In the previous year this totaled £35,863. Charity Commission approval was received, reference C-C5M6/263103, on 4 May 2019.

No other trustee or person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.

Page 24