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2023-03-31-accounts

Company number 00730536

WILTSHIRE WILDLIFE TRUST LIMITED

REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

WILTSHIRE WILDLIFE TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS Page
Reference and administrative details 1 – 2
Chairman’s Report 3
Report of the Trustees (including Strategic Report) 4 - 15
Statement of Trustees’ Responsibilities 16 - 17
Independent Auditors Report 18 - 20
Consolidated Statement of Financial Activities (including Income and Expenditure Account) 21
Consolidated and Charity Balance Sheet 22
Consolidated and Charity Statement of Cash Flows 23
Notes to the Financial Statements 24 - 47
The following pages do not form part of the statutory Financial Statements
Detailed Charity Income and Expenditure Account 48 - 49

WILTSHIRE WILDLIFE TRUST LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

Registered Charity Number 266202

Company Registration Number 00730536

Patron Robert Floyd

Ambassador Professor Sir J Lawton

TRUSTEES President Vacant

Chair

Mr M Street

Treasurer Mr P Luck

Council Members

Mr J Barlow Mr M Jolley Major General (Retd) C Fattorini Mr M Allez Ms C Pfarre Ms S Wyatt Mr P Maynard Mr T Gilson Mrs F Goff

The President, Chair, Vice Chair, Treasurer and Council Members are Trustees of the Charity. The Patrons and Ambassadors are not Trustees.

KEY MANAGEMENT PERSONNEL

Dr G J Mantle MBE - Chief Executive

Miss L M Hale – Head of Finance & Resources Mr D Haasjes - Head of Business Development & Community Engagement Mrs S Stork - Head of Conservation and Land Management Mr J Ravine - Head of Fundraising and Communications

Company Secretary

Miss L M Hale

Auditors

Sumer Audit, County Gate, County Way, Trowbridge, Wiltshire BA14 7FJ

Solicitors

BLB Solicitors, 1 Edgar Buildings, George Street, Bath, BA1 2DU Stephens Scown LLP, Osprey House, Malpas Road, Truro, TR1 1UT

Bankers

Barclays Bank. 37 Milsom Street, Bath, BA1 1DW NatWest Bank. 250 Bishopsgate, London, EC2M 4AA

Equity Investment Managers

M&G Charities, PO Box 9038, Chelmsford CM99 2XF and Barclays Wealth, 1 Churchill Place, London, E14 5HP

Pension Advisors

Castle Sundborn, The Old Bank, 10 High Street, Malmesbury, Wiltshire, SN16 9AU

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WILTSHIRE WILDLIFE TRUST LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

Registered Office and Head Office

Wiltshire Wildlife Trust Limited Elm Tree Court, Long Street Devizes, Wiltshire SN10 1NJ Telephone: (01380) 725670

Email: info@wiltshirewildlife.org Website: www.wiltshirewildlife.org

South Wiltshire Office

Wiltshire Wildlife Trust Limited Langford Lakes Nature Reserve Duck Street, Steeple Langford Salisbury, Wiltshire SP3 4NH

North Wiltshire Office

Lower Moor Farm Oaksey Nr Malmesbury Wiltshire SN16 9TW

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WILTSHIRE WILDLIFE TRUST LIMITED CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2023

We celebrated a number of milestones last year, including our 60th Anniversary year, securing the largest ever grant we have received to support the acquisition of Great Wood, an ancient woodland near Brinkworth, as well as running the first market for biodiversity credits in Wiltshire thanks to the Government’s Green Recovery Challenge Fund.

Our new strategy ‘A Wilder Wiltshire’ gives us a clear direction for the next seven years and with our new Chief Executive, Jo Lewis, who joins us from the Soil Association, we have a leader to steer us through this period with focus, creativity and determination. Wiltshire Wildlife Trust would not be what it is today without the leadership of our outgoing CEO, Gary Mantle, over the last 33 years. Suffice to say that as you read through this report, many of the areas of impact are because of Gary’s foresight and ability to create partnerships and secure funding for so many projects. Highlights have included the creation of the Care Farms, which have been continuing to support young people in Wiltshire, as well as the acquisition of some of Wiltshire’s and the UK’s top sites for wildlife, such as the ancient hay meadows at Clattinger Farm. We all owe him a huge thank you.

Behind the outward facing activities, there is a very important function that can sometimes be overlooked; Louise Hale leads a small but essential Business and Finance team in the Trust. It is thanks to Louise and her team that we are able to present this report and the annual accounts that sit behind it.

You will see that the Trust’s financial health is solid, although we are not immune to the challenges that inflation brings. I am pleased to say that our membership remains healthy and that we are growing the number of our volunteers across many projects.

I would like to finish by saying a huge thank you to everyone who has supported the Trust over the past 12 months. Your support has been essential in delivering a Wilder Wiltshire and you should feel pride in what we have achieved.

Mr M Street Chair of Trustees

23 August 2023

If you believe…

To find out more about how you can help the environment, visit our website www.wiltshirewildlife.org

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

OBJECTIVES AND ACTIVITIES

The Trust’s Memorandum of Association sets out its objects which may be summarised as the promotion of wildlife and its habitats and places of natural beauty, interest or value, particularly to further biodiversity; to protect the environment, particularly by reference to sustainable development and recycling waste; and to advance the education of the public in such areas.

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.

How our activities deliver public benefit

Wiltshire Wildlife Trust’s vision is to create a sustainable future for wildlife and people. We have a core belief that nature is valuable in itself and fundamental to everyone’s wellbeing. We believe that the work we do makes a genuine difference to both nature and people.

Our Purpose is “to provide leadership to drive nature’s recovery, connecting all generations with nature and empowering them to take meaningful action for nature and the climate”.

To achieve our purpose, we have set ourselves three goals:

  1. Nature is in recovery

  2. People are taking action

  3. Nature is valued

These goals are supported by People, Finance, Communications, Digital working and ensuring our house is in order. We have 153 staff and over 1,300 active volunteers who are an essential part of the Trust’s resources. The current strategy identifies the need to invest and train in our staff and volunteers, adopting a Team Wilder approach and adopting new ways of working. The Trust has good governance practices and strives to protect and maintain income and assets and deliver a step change in the scale and diversity of funding for natures recovery.

We have over 22,500 members and look after 41 nature reserves. This year we have continued to protect habitats in Wiltshire with the acquisition of Great Wood and investment through the Bristol Avon Catchment Market in agroforestry at Mill Farm and ponds and scrapes at Morningside Meadows. The Taking Action for Insects project has transformed surveying and monitoring and the works at Bay Meadows has secured the site for the local community for the future. Education and Wellbeing remain a key priority for the Trust and engaging people in nature through our programmes and centre activities.

We are grateful to our supportive members and partnership working with corporates, schools, local communities and public bodies who enable us to deliver our strategic objectives. Grants awarded by the Green Recovery Challenge Fund, Big Lottery Community Fund, National Lottery Heritage Fund, European Social Fund and The National Lottery Community Fund enable us to support the recovery of nature, help connect people with nature and live more sustainably.

All our Trustees are volunteers and give their time freely. The list of volunteers is almost endless; without its volunteers, the Trust would not be able to undertake as much as it does or be as effective as it is. Those volunteers working with projects involving children or other vulnerable groups are approved by the Disclosure and Barring Service.

STRATEGIC REPORT

The information that follows including the Review of Activities, Financial Review, Principal Risk and Uncertainties and Plans for Future Periods forms the Director’s Report and the Strategic Report for the purpose of the Companies Act 2006.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENTS AND PERFORMANCE

Welcome to this report of 2022/23, and my final introduction as CEO of the Trust. Despite the challenges facing us all today, I hope that this impact report and our new seven-year strategy shows what can be achieved and gives you a sense of optimism for the future.

A key goal in our ‘Wilder Wiltshire’ strategy is to get nature and climate at the heart of decision making. This past year, the Trust has taken a more proactive approach to campaigning, setting out the urgent actions and leadership needed from Government to tackle the biodiversity and climate crises; from increasing incentives for farmers, to retaining vital environmental protections from EU law. Thanks to everyone who joined in the national ‘Defend Nature’ campaign. The battle isn’t won yet and the Trust will continue to press the Government to deliver on its climate and nature commitments. We will also continue to lead by example. We have committed to doubling the land we manage for nature by 2030, and have made great strides towards achieving this goal by purchasing Great Wood, 175 acres of ancient woodland. A big thanks to our Treasurer, Peter Luck, The Underwood Trust, Biffa Award, and everyone who contributed to this magnificent achievement. I look forward to hearing how nature bounces back in the woodland over the coming years.

Achieving nature’s recovery is an ongoing struggle, but one that brings immense satisfaction and fulfilment when it can be seen in action. From the creation and enhancement of wetland habitats at Landford Bog, Langford Lakes and Lower Moor Farm, to the planting of trees in Swindon and at Green Lane Wood and Mill Farm, the long-term benefits for our local wildlife will be profound.

We have also expanded the reach of our Care Farms, increased nature connectedness among participants on our wellbeing programmes and run more outdoor family events than ever before. These all help us achieve our goal of getting 1 in 4 people taking meaningful action for nature and benefitting from having nature in their lives.

Despite the many uncertainties and challenges still facing us, I retire as CEO confident that the Trust and its supporters can achieve our shared vision of a sustainable future for wildlife and people. I now pass on the rewarding work of guiding nature’s recovery across our beautiful county to Jo Lewis, and give my sincere thanks to the extraordinary staff, trustees, volunteers, members and donors who have helped the Trust achieve so much over the years. I’d also like to thank The Hills Group for their unswerving support throughout my 33 years at the helm.

It has been a privilege and a joy to dedicate my life to this worthy cause, and I look forward to seeing what comes next.

Dr Gary Mantle MBE Chief Executive August 2023

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

New Strategy: Creating a Wilder Wiltshire

This spring, we launched our new seven-year strategy, which sets out how we will restore nature rapidly at scale, and inspire people to live more sustainably.

1. Nature will be in recovery

By 2030, Wiltshire and Swindon's habitats, species and natural processes will be in recovery and 30% of land will be managed for nature. To achieve this, we will lead by example by:

2. People will be taking action

3. Nature will be valued

By 2030, nature will play a central and valued role in helping to address local, national and global problems. To achieve this, we will:

Supporting nature’s recovery

An extraordinary year for the conservation and land management team saw the conclusion of our flagship Taking Action for Insects Project (TAfI), successful delivery of large-scale woodland and freshwater habitat improvement works, and the start of new endeavours at Mill Farm, and new nature reserves Bay Meadows and Great Wood.

As always, volunteers have been key to our success, with 7,944 hours recorded over the past year and 1,658 volunteers attending tasks for the TAfI project alone.

Swindon

The recently extended Swindon Forest Meadows Project, a partnership with Swindon Borough Council, logged 2,748 volunteer hours during 2020-23.

Volunteers have helped the project achieve so much including:

North Wiltshire

We provided more habitat for pollinators such as the marsh fritillary butterfly, including Devil’s-Bit Scabious, their larval food plant, well into the future:

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

South Wiltshire

On our woodland nature reserves, we opened up 2km of rides for the benefit of woodland butterflies - we've recorded twice as many pearl bordered fritillaries since last year.

At Coombe Bissett Down, our work to revert cultivated land to natural grassland has continued to improve habitat for wildlife, with invasive brome species covering 60% less area this year.

At Langford Lakes, the reedbed has been enhanced thanks to funding from National Highways as part of the Network for Nature programme. This work has tripled the amount of reedbed habitat for wetland invertebrates and wading birds. Landford Bog has been greatly improved with the installation of around 40 leaky dams throughout the site. These have kept surface water on the site until June this year, much later than previously; raft spiders have been flourishing as a result.

The Bristol Avon Catchment Market

The Bristol Avon Catchment Market (BACM), a collaboration led by Wiltshire Wildlife Trust, resulted in the successful delivery of the first online biodiversity market in the UK using environmental credits. The team have developed the market from concept to operation, implementing and influencing the development of legislative guidance.

The BACM also supported six ecology trainees, who were then employed as Assistant Ecologists. Defra’s Green Recovery Challenge Fund enabled this innovative market model to demonstrate how private finance can support nature’s recovery. Delivered projects resulted in the creation and/or enhancement of:

Water Team

The Water Team have had an exciting year developing and completing projects, and coming up with new schemes.

One of the highlights has been the completion of a wetland creation project at Lower Moor Farm nature reserve, made possible through funding from Crapper & Sons. We excavated a series of new wetland scrapes and ponds, and used the resulting gravel to create islands in Cottage Lake opposite the Dragonfly Café. These new wetland features are already attracting declining amphibians, birds and mammals.

We completed wetland scrapes at our new nature reserve Bay Meadows to provide habitat for endangered water voles, aquatic invertebrates such as dragonflies, and wading birds.

Bank regrading work on the Western Arm of the Hampshire Avon, tree planting in the headwaters of the River Wylye, and multiple woody debris projects around the county all helped slow water run off which reduces flood risk. We also delivered 19 new or restored ponds for Great Crested Newts, and the Wessex Water Guardians programme went from strength to strength, with more volunteers monitoring the condition of our rivers and recording wildlife.

WSBRC

229,091 new species records were added to the Wiltshire and Swindon Biological Records Centre (WSBRC) database, taking the total number of records to over 3.2 million.

We undertook a major project to identify and map 133 threatened species that are critically important in Wiltshire. This project, funded by Natural England through the Species Recovery Programme, is vital for informing upcoming Local Nature Recovery work.

Our Ancient Woodland Inventory project is now working with local experts to survey parcels of ancient woodland to ensure these irreplaceable sites are protected.

Through the Nurturing Nature project across the Cranbourne Chase AONB, we have been engaging local people and improving wildlife recording. This year, 49 training events were undertaken with 2,483 hours logged by 148 volunteers.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Farming

The last 12 months have seen us make major improvements to our farm infrastructure, including;

These improvements give us greater control, flexibility and efficiency in the way we manage our conservation grazing, resulting in meadows that have a greater diversity and abundance of species.

Adult Wellbeing

Our Wellbeing Programme in Swindon is all about connecting people with the natural world, and over the last year, we have inspired and supported participants to live more sustainably:

The National Lottery Reaching Communities Fund has supported this programme.

We delivered two 12-week wellbeing programmes in Marlborough, funded by Marlborough Area Board and National Lottery Heritage Fund. Participants contributed over 220 volunteer hours to help develop the Trust’s new Bay Meadows nature reserve for the benefit of local wildlife and people.

Through these activities, we achieved an 87% increase in nature connectedness as measured by the ‘Inclusion of Nature in Self’ scale.

“The Wellbeing Programme is different to other mental health groups, because you’re outdoors and you can look at what’s around you. We’ve helped nature, made a positive contribution, and it’s been enjoyable.” Swindon Wellbeing Programme participant

YEW Team

Our Youth Education and Wellbeing Team have had a successful year engaging young people around the county through nature and improving their well-being:

The Care Farms

In the last year, our Care Farms have worked with 119 children and young people in nature, helping 99 to retain their places at school , with the remainder being home educated or on full-time alternative provision packages.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The Willows Care Farm has grown considerably, with more than 30 students attending each week. We built a new office and staffroom thanks to funding by Garfield Weston Foundation, and the old office has become an additional outdoor learning space, enabling us to support and nurture more children and young people in nature based activities.

“The Willows Care Farm has been an exceptional support to our son who looks forward with enthusiasm to his Wednesday session. Promoting mental wellness, core life skills, social interactions, carpentry and outdoor projects could well lead to meaningful work for our son.”

Care Farm student’s carer

UASC Programme

The Unaccompanied Asylum Seekers and Refugee Children Programme (UASC), commissioned by Wiltshire Council and launched in partnership with The Harbour Project in Swindon, delivered eight successful events and 35 activities over the past year.

“I have enjoyed every trip, and I would like to do more, thank you for the opportunity to take part. Also I have made new friends and I do keep in contact with them.” Azad Mahmoudi, programme participant

These activities give the young people a sense of belonging in the UK and help them overcome past trauma by providing opportunities to have fun and make new friends:

Communications and campaigns

Improved accessibility and engagement online

Immediately following the launch of our new website, website visitors increased 48% in March 2023 compared to the previous year and has continued this trend to date.

Website accessibility has improved, with easier navigation and various viewing options including dyslexia-friendly fonts and colour contrasts. Easy-read and visual pre-arrival guides have also been produced alongside video introductions for our most popular nature reserves, making them more accessible than ever before.

30 Days Wild campaign

30 Days Wild is the UK’s biggest nature challenge run by The Wildlife Trusts and kindly supported by players of People’s Postcode Lottery. In June 2022, 1,649 people took part across Wiltshire by doing one wild thing each day throughout the month to connect with nature.

Defend Nature campaign

Our Defend Nature campaign was launched in autumn 2022 when the UK Government tried to forge a ‘sunset clause’ on the Retained EU Law Bill that would bulldoze hundreds of important environmental laws that protect wildlife and habitats by the end of 2023.

As a result of our campaign, which was promoted heavily in the press, on social media and by email, 97 people in Wiltshire sent postcards to their MPs demanding that they challenge the bill. Thanks to this support, we helped raise the alarm and the Government announced it would be scrapping the ‘sunset clause’.

Waste Free February

164 people took part in our Waste Free February campaign in February 2023, reducing their waste throughout the month to help the environment.

This campaign attracted a lot of media coverage, including an interview on the BBC with one of our Young Ambassadors at the Melksham Community Larder.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Media coverage

Media coverage of the Trust’s campaigns, projects and sustainability messages increased 29% compared to the previous year, as we took a more proactive role in campaigning and highlighting the impact of our work. This included 45 radio and television appearances, such as an interview on BBC News about the importance of sustainable farming. This coverage helped to communicate how we are supporting nature’s recovery and inspired more people to engage with nature, live more sustainably and support the Trust’s work.

Carbon Footprint

The Trust recognises the threat to wildlife and people from climate change and is committed to being net carbon positive. This means minimising our emissions and optimising the carbon stored, captured and sequestered through land management of our nature reserves.

For the year 2021-22, our calculations show that we continue to capture and store more carbon than we emit. Accurate measurement is difficult and our calculations are based on the best available information. Each year, additional indirect sources of carbon emissions (known as Scope 3) have been included in the calculations. Even with these additions, during 2021-22 we calculate that the Trust has removed 1,784 tonnes of carbon dioxide equivalent (t CO2e).

This was a significant increase compared to previous years, largely due to using improved data to calculate carbon exchanged on our nature reserves, but also in part thanks to the creation/extension of wet grassland nature reserves at Upper Minety Meadows and Bay Meadows, enabling us to capture more carbon year-on-year.

Emissions from conservation grazing livestock made up the majority of the Trust’s carbon emissions: 65%. However these were down on previous years due to a reduced number of animals and more accurate categorisation. Questions have also been raised about whether the metrics widely used to convert methane emissions from livestock to carbon exaggerates their impact - we used the ‘Farm Carbon Toolkit’.

Other emissions have increased compared to last year. This is partly due to including more items within our Scope 3 calculations, but also because of the increased work carried out by the Trust. Wiltshire is a large county, therefore travel made up 26% while energy use was 7% of our emissions.

How is the footprint calculated?

The Wildlife Trusts’ Greenhouse Gas Inventory Tool has been used to calculate a figure for carbon emissions from operations. This tool uses the UK Government’s ‘conversion factors’ to calculate emissions, which are updated each year to reflect changes; for example, the 2021 update decreased the CO2e factor for electricity by 9% due to an increase in renewable electricity generation and a reduction in coal use in the UK.

To give an overall ‘Carbon Footprint’ for 2021-22, we calculated the carbon capture and sequestration rates that best matched the different habitats and management of our nature reserves, using a variety of sources and the lower rates where a range of rates were identified for similar habitats.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Which carbon emissions are used?

Resources included in this calculation are fossil fuels used in hand tools, small machinery and fleet vehicles, and electricity usage. Emissions from the following are also included: livestock, waste and recycling, water used and sewerage at sites without treatment facilities, staff travel, commuting and working from home, volunteer travel, transmission and distribution of grid electricity and emissions which come from extracting, refining and transporting fossil fuel before we use it.

Looking ahead

Annual action plans will enable us identify opportunities to reduce our carbon emissions further in key areas and our staff and volunteer Sustainability & Carbon Reduction Group is helping to put these plans into action.

FINANCIAL REVIEW

For the year ended 31[st] March 2023 the Trust is reporting a surplus of £1,679,415. Donations and legacies have decreased by £768,202 when compared to 2022 due to less legacy income received in the current year. Charitable activity income has increased by £2,247,129 with the acquisition of Great Wood and an increased project funding for the Green Recovery Challenge Fund projects and activities at Bay Meadows. Other trading activities have increased by £70,130 as a result of the increased scale of activity at the Nature Centre and Cafes.

We are extremely thankful for the ongoing financial support from our funders and members, local authorities, environmental agencies, grants and the landfill tax contributions from The Hills Group and Crapper and Sons. As a result of this funding we have been able to secure, maintain and enhance our nature reserves which are embedded in our people engagement and accessed by all visitors. Our talented, hardworking staff and volunteer teams have made this possible on the ground.

Expenditure has increased in the year by £1,183,735 when compared to 2022. The scale of Charitable Activities has increased in 2023 with growth in Education and Wellbeing and Conservation projects being delivered across Trust sites. The WSBRC has delivered a number of programmes during the year to improve the data held across the county with a specific emphasis on surveying and monitoring.

The accounts show a gain on investments of £152,045 reflecting the increase in value of the investment properties at the year end.

During the year £1,816,208 was expended on capital, of which £1,700,000 was associated with acquiring Great Wood and £80,798 on the construction of The Care Farm Office at The Willows. The remainder was in line with the capital replacement programme for Farming and Property maintenance.

The Trust Consolidated Balance Sheet at the end of March 2023 remains strong with assets of £17.5 million. This consists of £14.8 million fixed assets including £358,322 of investments. The bank balance of £1,764,471 is easily accessible therefore liquid assets are available to meet the creditors liability.

Notes 22 and 23 show the range of projects undertaken by the Trust and the remaining balances at year end in the Restricted, Designated and Unrestricted Funds.

The Trust’s financial situation remains strong, we continue to seek opportunities to raise additional funding for projects and strive for efficiency to ensure we can easily adapt to future challenges.

Investment Policy

The Trust’s policy regarding cash not immediately needed for working capital is to place it in a range of investments, depending on the Trust’s requirements in the medium to long term and on the economic outlook. Thus, the Trust has investments in short-term money funds, in equities and in property to provide the Trust with a higher total return than available from money on deposit, reducing risk by investing across a range of investments.

As at 31[st] March 2023 the Trust had £22,767 invested in the Charities Official Investment Fund (COIF), a short-term and immediately available money fund (2022: £22,546) and £3 in a savings account with Barclays Wealth (2022: £3). A further £1,741,704 (2022: £1,665,620) was held in easy access deposit accounts mainly with Barclays to provide immediate regular needs.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

At the end of the year the Trust retained 19,500 Charifund units which had a market value of £289,223 (2022: £308,048). Charifund is an independent fund managed by M & G Securities Limited. The Trust also held £69,099 of shares (2022: £75,818).

The Finance Committee reviews the performance of the Trust’s investments and reports to the Council on a quarterly basis.

Financial Reserves Policy

At the year-end date the group had total funds of £17,492,775 of which £11,558,847 were restricted, £4,390,343 designated and £1,543,585 unrestricted. Details of restricted and unrestricted funds are provided in notes 22 to 23 to the accounts.

Restricted funds will be realised according to the funding agreements in place and the time remaining for the project. At the year-end £1,062,766 is held as unspent income Restricted Funds.

The total “free” reserves at the year-end date is £449,292. This takes into consideration the amount of reserves the group holds after making allowance for any restricted funds, the amount of any designations, commitments (not provided for as a liability in the accounts) or carrying amount of functional assets which the group considers to represent a commitment of the reserves they hold.

The Trustees have adopted a policy regarding financial reserves which should ensure that:

The level of reserves is reviewed on a quarterly basis by the Finance Committee.

Performance of the Trading Subsidiary

Wiltshire Wildlife Trust Limited has a 100% shareholding in a trading subsidiary called Wiltshire Environmental Enterprises Limited. No activity was undertaken during the financial year. Only interest and accounting adjustments have been recorded.

Market Value of Land and Buildings

The nature reserves owned by the Trust represent areas of land held for conservation purposes. These are all stated either at cost or, if gifted to the Trust, at the market value at the date of the gift.

The freehold buildings comprise the offices out of which the Trust operates, together with farmhouses and other buildings acquired with nature reserves. The Trust properties are held to generate rent or provide staff accommodation. These are treated as mixed motive investments stated at fair value.

Principal Risks and Uncertainties

The Trustees have examined the principal areas of the Trust’s operations and considered the major risks that may arise in each of these areas. In the opinion of the Trustees, the Trust has established resources and review systems, which under normal conditions should allow the risks identified by them to be mitigated to an acceptable level in its day-to-day operations. At each meeting of the Council and of its committees, those present are asked to disclose if they are aware of any new risks or any material change in the level of likelihood of any existing risk or in the impact of its occurrence.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

A WILDER WILTSHIRE – Challenges and plans for the future

Our vision for Wiltshire and Swindon is simple; we need a sustainable future for wildlife and people. This means reversing the loss of wildlife, restoring ecosystems, using natural solutions to help tackle the climate crisis, halting toxic chemical use, reducing waste, using renewable resources, living within the limits of finite natural resources, conserving soils, protecting air and water quality, and providing opportunities for people to benefit from a healthy natural environment.

To help achieve this vision the Wiltshire Wildlife Trust will lead by example in delivering nature’s recovery, connecting communities and generations with the natural world and empowering them to take meaningful action for nature and to mitigate the challenge of climate change. At the same time we will continue to work with others who share our vision. This is our Purpose.

It is clear that the next few years we be challenging; we face an ecological and climate emergency and this is already impacting the three pillars of sustainable living: nature, people and our economy. The Trust has launched the 2023 to 2030 strategy which sets out how Wiltshire Wildlife Trust will restore nature rapidly and at scale to deliver our vision and purpose.

The Trust will continue to lead and support the transition of society to live more sustainably, continuing to raise awareness of the likely impacts of climate change and the need to develop adaptation and mitigation measures. We will seek to get our ideas integrated into the mainstream, in education, public health, planning policy, waste management, the construction industry and green economy, so that they become part of normal ways of working. As well as showing that our ideas work in practice, we will develop our communications and advocacy to help environmentally friendly behaviours become adopted within mainstream thought.

People are part of nature. But we're losing touch with it and this is causing us great harm. Children are suffering from 'nature deficit disorder'. Adults and children need to reconnect with nature. The evidence shows that getting out into nature improves our mental and physical health. Urban green spaces that are rich in wildlife boost our immune systems. We must fill the spaces close to where we live with wildlife. Prevention of mental and physical health problems is better and cheaper than treatment.

We want to see an increased abundance of nature, experienced by people in their daily lives. We will support nature’s recovery through our nature reserves and by working with farmers and other landowners to create nature recovery networks based on spatial connectivity and ecosystem function. We will ensure that our work is based on sound knowledge and evidence and that we use this to influence and inform decisions made by others.

Additional challenges include:

In order to achieve our mission the Trust has 3 goals to 2030;

Goal 1 - Nature is in recovery: Wiltshire and Swindon's habitats, species and natural processes are restored To achieve this we will:

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Goal 2 - People taking action: People are taking informed and meaningful action for nature and the climate and benefitting from having nature in their lives

To achieve this we will:

Goal 3 - Nature is valued: Nature plays a central and valued role in helping to address local, national and global problems

To achieve this we will:

To enable the Trust to achieve these goals and meet our targets we need to develop new ways of working and secure the resources and support necessary, therefore by 2030 we have identified five areas for change:

  1. People – through a Team Wilder approach we will inspire communities and build on citizen science projects. We will also continue to invest in a highly skilled and diverse staff network and build a movement wide learning culture

  2. Finance – protect and maintain our income and assets.

Deliver a step change in the scale and diversity of funding for natures recovery

3. Communications – increased advocacy and campaigning and support journeys

4. Digital - internal processes and systems and external communications

5. Getting our own house in order – ensure our reserves have a clear purpose and plans for Climate Change

Adaptations, review and extend our carbon reduction strategy and action plan and promote no use of toxic chemicals

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust is a company limited by guarantee incorporated in England and is governed by its Memorandum and Articles of Association. It is also a charity registered in England. It is subject to both the Companies Act and the Charities Act.

The Trust is governed by a Board of Trustees known as the Council who are elected by the Trust’s members. The Trustees are the directors of the company for Companies Act purposes. The Council meets at least four times per year. Its work is supported by a number of committees (Finance, Personnel, Conservation Management, Conservation Policy, Health and Safety and Sustainability, Education and Wellbeing), each of which has its own terms of reference. Some committees include co-opted experts who are not Trustees.

Overall responsibility for all aspects of the leadership, direction, performance and probity of the Trust is vested in the Council.

In particular the Council has responsibility for:

Page 14

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Council has delegated to the Chief Executive Officer the following responsibilities:

The Council has determined that decisions on certain matters are reserved to the Council (or, in certain cases, to specified Committees of the Council or, where expedition is required and subject to certain safeguards, to the chair or other designated member of that Committee). Such matters include major unbudgeted expenditure not covered by matched funding, major long term arrangements or contracts, significant changes in investments and major changes to the Trust’s management structure or to employee benefits, as well as approval of strategies, budgets and other matters directly relevant to the Council’s fulfilment of its functions described above.

The Council has also delegated to Committees the task of monitoring various aspects of the Trust’s performance and of reporting back to the Council (with recommendations where appropriate). All Committee minutes (excepting Personnel) are presented to the Council together with any recommendations for decision requiring the approval of Trustees.

Selection and Appointment of Trustees

The Council reviews at least once a year the skills and experience that the Trust needs amongst its Trustees. When a vacancy arises for a Trustee, a selection process is undertaken with a view to filling any unmet need. The Trust will place advertisements onto the website, relevant publications or individuals will be approached on an informal. A recruitment search agency will be used if appropriate.

Trustees are elected at the AGM for a three-year period and are permitted to complete two consecutive three-year terms following which they must stand down for at least one year. A special resolution may be sought if a Trustee continues to serve on the Board. A person may be appointed as a Trustee by the Council between AGM’s but must offer themself for election at the next AGM. All nominations for a person to be elected as a Trustee at the AGM are presented to the members of the Trust together with the names of their proposer and seconder.

A prospective Trustee submits a curriculum vitae which is considered by the currently serving Trustees. There is also an interview with the Chair, a Trustee with similar experience and the Chief Executive of the Trust before the nomination as Trustee is submitted to Council for approval. Trustees are encouraged to join the Trust via the various Committees.

Trustee Induction and Training

New Trustees are provided with an induction pack, which includes information on Wiltshire Wildlife Trust Limited and its activities, as well as an explanation of their responsibilities as Trustees. They are also invited to meet the SLT. An existing Trustee will normally be identified to act as a mentor to the new Trustee. After the new Trustee’s first meeting, the Chair will discuss with him/her any issues arising, any training needs and which committee/activities of the Trust the Trustee would like to support.

Arrangements for setting the pay and remuneration for the key management personnel

The Trust considers the key management personnel comprise the Trustees, the Chief Executive, Head of Business Development and Community Engagement, Head of Conservation, Head of Fundraising , Marketing and Communications and the Head of Finance and Resources. The key personnel of the Charity are in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in notes 9 and 33 to the accounts.

Trustees are required to disclose all relevant interests and register them with the Chief Executive or Head of Finance and Resources in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.

Page 15

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The pay of the charity’s Chief Executive, senior personnel and all other staff are reviewed annually and cost of living increase considered as part of the budgeting process. Annually the Trust receives notification of the cost of living and salary levels of chief executives and senior staff across the Wildlife Trust movement. This helps individual trusts make informed decisions regarding future remuneration of staff. This is fully considered as part of the full budget process for the following financial year. The remuneration is also bench-marked with similar charities in the sector of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.

Relationship with the charity and related parties including its subsidiaries

The Trust has a wholly owned trading subsidiary, Wiltshire Environmental Enterprises Ltd (Company No 01674944), which has not traded in 2022-23.

The Trust is a corporate member of the Royal Society of Wildlife Trusts. This consists of 46 wildlife trusts across the British Isles, working towards a common vision of ‘an environment rich in wildlife for everyone’.

The Trust is a corporate trustee of the Keeper’s Trust, a charity set up to promote biodiversity in North Wiltshire.

The Trust is one of 11 members of the South West Wildlife Fundraising Limited (SWWFL), which provides membership recruitment services.

The Trust holds two Directorships with Wiltshire Wildlife Community Energy (WWCE) which is a community-owned sustainable energy company. The purpose of the company is to benefit the local community through increased resilience, cheaper energy costs, greater local value added and through the recycling of the profits into projects that will mitigate against climate change.

Fundraising Practices

Wiltshire Wildlife Trust is a member of the South West Wildlife Fundraising Limited which provides membership recruitment services. The contact preferences for new members are recorded upon registration and adhered to with regards to communications and appeals. Other supporters opt in to receive information from the Trust under our GDPR policy.

Our Head of Fundraising and Communications, Fundraising Manager and Trusts and Grants Officers are employed to apply for Trusts and Grants from recognised bodies for new projects and match funding. In addition appeals and campaigns are undertaken in line with the Institute of Fundraising Code of Conduct.

The Trust is registered with the Fundraising Preference Service and supports the work of the Fundraising Regulator. The Telephone and Mail Preference Service are also adhered to.

The Charity protects vulnerable people and members of the public by having strict policies in place and consent for communication. There have been no complaints to date.

Statement of Trustees’ Responsibilities

The Trustees (who are also the directors of Wiltshire Wildlife Trust Limited for the purposes of company law) are responsible for preparing their Report of the Trustees (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 which give a true and fair view of the state of affairs of the Trust and the group and of the incoming resources and application of resources, including the income and expenditure, of Trust and the group for that period. In preparing these financial statements, the Trustees are required to:

Page 16

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and the group 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 Trust and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to Disclosure of Information to Auditors

In so far as the Trustees are aware, there is no relevant audit information of which the Trust’s auditors are unaware, and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Auditors

A resolution to reappoint Sumer Audit as auditors will be put to the members at the Annual General Meeting.

In approving the Report of the Trustees, we also approve the Annual Review included therein, in our capacity as company directors.

By order of the Trust Council

----- Start of picture text -----
Mr M Street Mr P Luck
Chair Treasurer
----- End of picture text -----

Date: 23 August 2023

Page 17

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of Wiltshire Wildlife Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Group and the Parent Charitable Company Balance Sheet, the Group and Parent Charitable Company Cash Flow Statement and related notes to the financial statements, 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:

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Page 18

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2023

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement set out on pages 16-17 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 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.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act.

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 auditor’s 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:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

Page 19

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2023

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 auditor’s 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Gare Senior Statutory Auditor For and on behalf of Sumer Audit, Statutory Auditor Chartered Accountants County Gate, County Way Trowbridge, Wiltshire, BA14 7FJ

Date: ……………………………………. 19 December 2023

Page 20

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
£
824,401
2,187,106
197,315
97,533
27,721
3,334,076
151,514
113,541


1,254,591
1,916,489
91,755
244,677
3,772,567
152,045
(286,446)


30,550
(255,896)




3,981,994
2,207,830
6,189,824


5,933,928		 Restricted
£
16,855
3,769,736
50
-
-
3,786,641
-
-


1,334,862
261,377
206,541
-
1,802,780
-
1,983,861


(30,550)
1,953,311




11,813,366
(2,207,830)
9,605,536


11,558,847		 2023
£
841,256
5,956,842
197,365
97,533
27,721
7,120,717
151,514
113,541


2,589,453
2,177,866
298,296
244,677
5,575,347
152,045
1,697,415


-
1,697,415




15,795,360
-
15,795,360


17,492,775		 2022
£
1,609,458
3,709,713
127,235
95,843
29,567
5,571,816
182,481
83,619

1,810,325
1,901,097
166,743
247,347
4,391,612
276,807
1,457,011

-
1,457,011


14,338,349
-
14,338,349
15,795,360

The statement of financial activities contains all gains and losses recognised during the year. All income and expenditure derive from continuing activities. The notes on pages 24 to 47 form part of these accounts

Page 21

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED AND CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023

Note
Fixed Assets
Tangible assets
12
Heritage assets
13
Investments
14
Mixed motive investments - properties
14
Current Assets
Stocks and work in progress
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
18
Total net assets
Charity Funds
Capital Fund
Restricted nature reserves
22
Other Funds
Restricted funds
22
Unrestricted funds:
General funds
23
Designated capital funds
23
Designated other funds
23		 Group
2023
2022
£
£
2,517,121
2,551,053
9,073,253
7,373,253
358,322
383,866
2,876,580
2,698,991
14,825,276
13,007,163
199,420
194,725
1,047,244
1,204,558
1,764,471
1,688,169
3,011,135
3,087,452
(303,107)
(249,169)
2,708,028
2,838,283
17,533,304
15,845,446
(40,529)
(50,086)
17,492,775
15,795,360
10,496,081
8,832,671
1,062,766
772,865
1,543,585
1,759,893
2,876,580
2,698,991
1,513,763
1,730,940
17,492,775
15,795,360		 Charity
2023
2022
£
£
2,517,121
2,551,053
9,073,253
7,373,253
368,322
393,866
2,876,580
2,698,991
14,835,276
13,017,163
199,420
194,725
1,047,270
1,204,169
1,744,222
1,667,133
2,990,912
3,066,027
(302,947)
(248,569)
2,687,965
2,817,458
17,523,241
15,834,621
(40,529)
(50,086)
17,482,712
15,784,535
10,496,081
8,832,671
1,062,766
772,865
1,533,522
1,749,068
2,876,580
2,698,991
1,513,763
1,730,940

17,482,712
15,784,535		 Charity
2023
2022
£
£
2,517,121
2,551,053
9,073,253
7,373,253
368,322
393,866
2,876,580
2,698,991
14,835,276
13,017,163
199,420
194,725
1,047,270
1,204,169
1,744,222
1,667,133
2,990,912
3,066,027
(302,947)
(248,569)
2,687,965
2,817,458
17,523,241
15,834,621
(40,529)
(50,086)
17,482,712
15,784,535
10,496,081
8,832,671
1,062,766
772,865
1,533,522
1,749,068
2,876,580
2,698,991
1,513,763
1,730,940

17,482,712
15,784,535
13,017,163
194,725
1,204,169
1,667,133
3,066,027
(248,569)
2,817,458
15,834,621
(50,086)
15,784,535
8,832,671
772,865
1,749,068
2,698,991
1,730,940
15,784,535

The notes on pages 24 to 47 form part of these accounts.

The financial statements were approved and authorised for issue by the Trustees on 23 August 2023. Signed on behalf of the board of Trustees:

………………………………… ……………………………………… Mr M Street Mr P Luck The notes on pages 24 to 47 form part of these accounts Company number: 00730536

Page 22

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED AND CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note
Cash flow from operating activities
30
Interest paid
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed
assets and heritage assets
Receipts from sales of tangible fixed
assets
Receipts from sales of investments
Dividends and interest received
Rents received from investment
properties
Net cash flow from investing activities
Cash flow from financing activities
Repayment of long-term loans
31
Repayment of hire purchase
Net cash flow from financing activities
Increase / (decrease) in cash & cash
equivalents
Cash and cash equivalents at 1 April
2022
Cash and cash equivalents at 31
March 2023
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31
March 2023		 Group
2023
2022
£
£
1,799,763
876,245
(1,831)
(916)
1,797,932
875,329








(1,816,208)
(980,304)
8,109
143,000
-
-
22,737
21,903
74,796
73,940
(1,710,566)
(741,461)








(11,064)
(11,327)
-
-
(11,064)
(11,327)




76,302
122,541




1,688,169
1,565,628




1,764,471
1,688,169












1,764,471
1,688,169
1,764,471
1,688,169		 Charity
2023
2022
£
£
1,800,594
877,305
(1,831)
(873)
1,798,763
876,432






(1,816,208)
(980,304)
8,109
143,000
-
-
22,693
21,903
74,796
73,940
(1,710,610)
(741,461)






(11,064)
(11,327)
-
-
(11,064)
(11,327)



77,089
123,644



1,667,133
1,543,489



1,744,222
1,667,133









1,744,222
1,667,133
1,744,222
1,667,133		 Charity
2023
2022
£
£
1,800,594
877,305
(1,831)
(873)
1,798,763
876,432






(1,816,208)
(980,304)
8,109
143,000
-
-
22,693
21,903
74,796
73,940
(1,710,610)
(741,461)






(11,064)
(11,327)
-
-
(11,064)
(11,327)



77,089
123,644



1,667,133
1,543,489



1,744,222
1,667,133









1,744,222
1,667,133
1,744,222
1,667,133
876,432


(980,304)
143,000
-
21,903
73,940
(741,461)


(11,327)
-
(11,327)

123,644

1,543,489

1,667,133



1,667,133
1,667,133

Page 23

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1) Accounting policies

a) General information and basis of preparation

Wiltshire Wildlife Trust Limited is a charitable company limited by guarantee registered in England and Wales. The address of the registered office is given in the legal and administrative information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are provided in the Report of the Trustees.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Group financial statements

These group financial statements consolidate the results of the charity and its wholly-owned subsidiary Wiltshire Environmental Enterprises Limited, both of which make up their financial statements to 31 March. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006.

Cash held at the year end by supporter groups is incorporated within the financial statements where amounts have been advised to the Trust.

c) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. 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 budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

d) Funds

Unrestricted funds - Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

- Designated funds 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 - 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 aim and use of each restricted fund is set out in the notes to the financial statements.

Restricted Nature Reserves Capital Fund - All income which increases this fund is dealt with in the income and expenditure account. Expenditure is of a capital nature and thus represented by an addition to the nature reserves owned by the charity and included in tangible fixed assets on the balance sheet.

e) Income recognition

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity, for example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Page 24

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1) Accounting policies (continued)

No amount is included in the financial statements for volunteer time in line with the Charities SORP (FRS 102). Further detail is given in the Report of the Trustees.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Landfill tax income is credited to the income and expenditure account and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Other income includes any income not falling into other income categories.

f) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

g) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include management, finance, information technology, human resource, volunteering, corporate, governance and contribution towards RSWT and SWWT costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Salaries are allocated by reviewing time spent by each employee on the activities and attributing cost accordingly. Other costs are allocated on a percentage basis as detailed overleaf.

2023 2022
• Raising funds 3% 2%
• Creating living landscapes across Wiltshire 47% 43%
• Lead and support the transition of society towards more sustainable living 41% 46%
• Ensure our work is based on sound knowledge and evidence 6% 4%
• Member support 3% 5%

The analysis of these costs is included in note 7.

Page 25

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1) Accounting policies (continued)

h) Tangible Fixed Assets Fixed assets are stated at original cost less accumulated depreciation or, if donated, the value at date of receipt less accumulated depreciation. Expenditure on assets is capitalised if the expenditure amounts to £2,000 or more.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life as follows:

Freehold buildings and improvements - between 25 years and 50 years
Agricultural buildings - over 25 years
Vehicles, equipment, furniture and fittings - between 3 years and 10 years
Computer equipment - over 3 years

i) Heritage assets

The Charity’s objects include the conservation of nature for the purpose of study and research and to educate the public in understanding and appreciation of nature, the awareness of its value and the need for its conservation. As such the Charity owns and maintains a number of nature reserves that fall into the definition of heritage assets in accordance with FRS 102. These assets have been capitalised at cost at the date of acquisition, and being land in nature have not been depreciated.

The costs of maintaining the heritage assets are expensed through the Statement of Financial Activities as incurred, as part of the Trust’s charitable activities.

j) Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the Statement of Financial Activities. Where investment properties are reclassified as functional fixed assets due to change of use they are transferred at the prevailing market rate.

k) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.

Investments in the subsidiary are stated at cost less any provision for impairment.

l) Mixed Motive Investments

A mixed motive investment is an asset held by the charity that provides a financial return but also contributes to the investing charity’s purposes.

The Charity holds a number of residential properties which generate a commercial rent. These properties are located on the Charity’s nature reserves, and retaining ownership allows the charity to better control how these sites are maintained and developed - thereby helping protecting these important sites. Mixed motive investments are valued at fair value.

m) Stock and Work in Progress

Livestock are included at discounted market valuation. Other stocks and work in progress are stated at the lower of cost and net realisable value.

The cost of work in progress includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

n) Cash at bank and in hand

Cash at bank and cash 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.

o) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

p) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Page 26

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1) Accounting policies (continued)

q) Concessionary loans

Concessionary loans include those payable to a third party which are interest free or below market interest rates and are made to advance charitable purposes. Loans are repayable on demand within one year and are measured at cost, less impairment.

r) Financial Instruments

The charity has only 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 and investment properties and listed investments which are measured at fair value.

s) Leases

Assets acquired under hire purchase agreements are capitalised and depreciated over the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals paid under operating lease commitments are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

t) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

A Group Personal Pension scheme (on a defined contribution basis) is offered to the employees of Wiltshire Wildlife Trust Limited and its subsidiary. Contributions payable for the year by the employer are charged in the Statement of Financial Activities.

u) Tax

The charity is a charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

v) Judgements and key sources of estimation uncertainty

The key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities include investment property valuations (note 14) and stock (note 15).

2) Income from donations and legacies

Membership income
Donations and appeals
Gift Aid
Legacies
Total
3)
Income from charitable activities
Grants
Landfill tax
Charitable Trust (project specific)
Other
Total		 2023
£
625,241
87,309
141,566
(12,860)
841,256
2023
£
2,177,522
2,111,060
69,400
1,598,860
5,956,842		 2022
£
605,768
187,645
153,297
662,748
1,609,458
2022
£
1,878,238
490,438
38,372
1,302,665
3,709,713

Page 27

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3) Income from charitable activities (continued)

A breakdown of grant income received is as follows:

Natural England
Local Authorities
Wiltshire Council
Swindon Borough Council
Salisbury City Council
Environment Agency
Wessex Water
National Lottery Heritage Fund
National Lottery Community Fund
National Lottery Community Fund
and the European Social Fund
Rural Payments Agency (European
Agricultural Fund for Rural
Development and Defra)
Crest Strategic Projects
Groundwork UK
Animal & Plant Health Agency
Curlew Recovery Partnership
Historic England
Department of Work and Pensions
Woodland Trust
Wiltshire Wildlife Community
Energy Ltd
Shaw Trust
Defence Infrastructure
Organisation
New Forest Park Authority
Wessex Rivers Trust
The Wildlife Trusts
HMRC - Coronavirus Job
Retention Scheme
The People's Postcode Lottery
The Tree Council
National Highways
North Wessex Downs AONB
Quartet Community Foundation
Other grants		 Unrestricted
£
12,500
5,334
-
-
-
20,000
18,845
-
-
241,163
12,500
-
-
-
-
1,882
-
18,279
-
-
930
-
-
-
-
249
-
-
-
14,537
346,219		 Restricted
£
106,328
511,150
10,472
6,564
24,456
20,597
602,349
90,654
70,922
53,539
12,500
-
6,799
-
16,003
8,606
20,000
-
6,675
7,000
5,382
19,410
-
-
-
-
179,476
30,421
20,000
2,000
1,831,303		 2023
£
118,828
516,484
10,472
6,564
24,456
40,597
621,194
90,654
70,922
294,702
25,000
-
6,799
-
16,003
10,488
20,000
18,279
6,675
7,000
6,312
19,410
-
-
-
249
179,476
30,421
20,000
16,537
2,177,522		 2022
£
93,120
254,197
77,358
-
17,465
50,430
440,540
133,251
69,373
460,553
50,000
1,000
6,500
4,250
19,727
34,234
28,487
-
-
51,601
-
25,700
31,338
156
23,400
2,242
-
-
-
3,316
1,878,238

4) Income from other trading activities

Page 28

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Fundraising Events
Retail
Total
Income from investments
Rental income
Income from UK investments
Bank and building society interest
Other interest
Total		 2023
£
192,048
5,317
197,365
2023
£
74,796
22,444
190
103
97,533		 2022
£
105,815
21,420
127,235
2022
£
73,940
21,901
2
-
95,843

5) Income from investments

6) Expenditure

Activities Support
undertaken costs 2023 2022
directly (note 7)
£ £ £ £
Expenditure on:
Raising funds
Recruiting new members 147,995 3,519 151,514 182,481
Fundraising, donations and legacies 102,984 10,557 113,541 83,619
Total 250,979 14,076 265,055 266,100
Charitable activities
Creating living landscapes across
Wiltshire		 2,249,097 340,356 2,589,453 1,810,325
Lead and support the transition of
society towards more sustainable 1,891,609 286,257 2,177,866 1,901,097
living
Ensure our work is based on
sound knowledge and evidence		 259,088 39,208 298,296 166,743
Support of members 220,772 23,905 244,677 247,347
Total 4,620,566 689,726 5,310,292 4,125,512
Total expenditure 4,871,545 703,802 5,575,347 4,391,612

Page 29

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7) Analysis of support costs

Year ended 31 March
Management
Finance
Information
Technology
Human Resources
Corporate
Volunteering
Governance
Contribution towards
RSWT and SWWT
Total
Year ended 31 March
Management
Finance
Information
Technology
Human Resources
Corporate
Volunteering
Governance
Contribution towards
RSWT and SWWT
Total		 Charitable Activities
Raising funds
Create
living
landscapes
across
Wiltshire
Lead and
support the
transition
of society
towards
more
sustainable
living
Ensure our
Work is
based on
sound
Knowledge
and
Evidence
Recruiting
new
members
Fundraising,
donations
and
legacies
Total
Support
of
members
£
£
£
£
£
£
2023
61,366
51,612
7,069
4,310
634
1,903
126,894
73,050
61,439
8,415
5,131
755
2,266
151,056
50,472
42,449
5,814
3,545
522
1,565
104,367
12,170
10,236
1,402
855
127
377
25,167
111,116
93,454
12,800
7,804
1,149
3,447
229,770
7,767
6,532
895
545
80
241
16,060
4,467
3,757
515
314
46
139
9,238
19,948
16,778
2,298
1,401
206
619
41,250
340,356
286,257
39,208
23,905
3,519
10,557
703,802
2022
50,726
53,270
4,672
5,935
585
1,754
116,942
51,968
54,574
4,787
6,080
599
1,797
119,805
37,582
39,466
3,462
4,397
433
1,300
86,640
13,700
14,387
1,262
1,603
158
474
31,584
70,880
74,434
6,528
8,292
817
2,451
163,402
5,403
5,674
498
632
62
187
12,456
3,628
3,810
334
424
42
125
8,363
15,399
16,171
1,418
1,802
178
533
35,501
249,286
261,786
22,961
29,165
2,874
8,621
574,693

Page 30

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8) Net income for the year

Group net income for the year is stated after charging / (crediting)

2023 2022
£ £
Depreciation of tangible fixed assets 149,027 125,013
(Profit) / loss on disposal of tangible fixed assets (6,997) (73,716)
Operating lease rentals 17,500 18,055
Auditor’s remuneration for audit services 18,000 16,500
Auditors’ remuneration for accountancy and other services 5,700 7,033

9) Trustees’ and key management personnel remuneration and expenses

The Trustees neither received nor waived any remuneration during the year (2022: £nil).

The total amount of employee benefits received by key management personnel is £279,946 (2022: £249,993). The Trust considers its key management personnel comprise the Trustees, the Chief Executive, the Head of Business Development and Community Engagement, the Head of Fundraising and Communications, the Head of Conservation and the Head of Finance and Resources.

No expenses (2022: £nil) were reimbursed to Trustees and no expenses (2022: £nil) were paid directly to third parties.

10) Staff costs and employee benefits

Total staff costs and employee’s benefits were as follows:

Salaries and wages
Social security costs
Pension costs
Other employee benefits
Death in service
Permanent health insurance
Staff costs for the charity
Staff costs for Wiltshire Environmental Enterprises Limited
Total staff costs for the group		 2023
£
2,468,451
201,256
191,326
50,737
35,371
2,947,141
-
2,947,141		 2022
£
1,996,103
157,840
163,359
36,739
23,211
2,377,252
-
2,377,252

Redundancy of £923 was paid in the year 2023 (2022: £nil) were made during the year.

During the year one employee received total employee benefits (excluding employer pension costs) of between £80,000 and £90,000 (2022: one employee £70,000 to £80,000).

Page 31

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10) Staff costs and employee benefits (continued)

The average actual number of employees during the year was as follows:

Trust officers and support staff
Consultancy activities
Total		 Group
2022
2021
150
122
-
-
150
122		 Charity
2022
2021
150
122
-
-
150
122

The average number of full time equivalent employees during the year was as follows:

Trust officers and support staff
Consultancy activities
Total		 Group
2022
2021
95
77
-
-
95
77		 Charity
2022
2021
95
77
-
-
95
77

11) Comparative Group Statement of Financial Activities (including income and expenditure account) – as restated

Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on:
Raising funds
Recruiting new members
Fundraising, donations and legacies
Charitable activities
Creating living landscapes across
Wiltshire
Lead and support the transition of society
towards more sustainable living
Ensure our work is based on sound
knowledge and evidence
Support of members
Total expenditure
Net gains on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
£
1,491,460
2,140,815
127,175
95,843
29,558
3,884,851
182,481
83,619
855,794
1,723,918
61,509
247,347
3,154,668
276,807
1,006,990
(394,632)
612,358
5,577,466
6,189,824		 Restricted
£
117,998
1,568,898
60
-
9
1,686,965
-
-
954,531
177,179
105,234
-
1,236,944
-
450,021
394,632
844,653
8,760,883
9,605,536		 2022
£
1,609,458
3,709,713
127,235
95,843
29,567
5,571,816
182,481
83,619
1,810,325
1,901,097
166,743
247,347
4,391,612
276,807
1,457,011
-
1,457,011
14,338,349
15,795,360

Page 32

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12) Tangible assets Group and charity

Freehold
Buildings		 Vehicles &
Equipment		 Furniture
& Fittings		 Total
£ £ £ £
Cost
At 1 April 2022 2,876,664 654,905 276,181 3,807,750
Additions 102,496 10,950 2,762 116,208
Disposals - (11,288) - (11,288)
At 31 March 2023 2,979,160 654,567 278,943 3,912,670
Depreciation
At 1 April 2022 628,975 472,371 155,351 1,256,697
Charge for the year 76,148 52,133 20,746 149,027
Eliminated on disposals - (10,175) - (10,175)
At 31 March 2023 705,123 514,329 176,097 1,395,549
Net book value
At 31 March 2023 2,274,037 140,238 102,846 2,517,121
At 31 March 2022 2,247,689 182,534 120,830 2,551,053

13) Heritage assets

The Trust’s nature reserves are held to advance the conservation objectives of the charity and therefore are recognised as Heritage assets. Such assets are central to the achievements of the Trust. Purchased heritage assets are included in the balance sheet at cost. Donated assets are only included in the balance sheet where a reliable valuation can be obtained at the date of donation. Other nature reserves are leased or rented at a nominal value.

35 different nature reserves have been purchased or donated throughout the life of the Trust. In addition, a further 6 nature reserve sites are being leased or rented at a nominal rental.

Public access to the sites is generally unrestricted subject to health and safety, temporary operational or other restrictions such as within leases or conveyance documents.

Five year summary of heritage asset transactions

Group and charity 2023 2022 2021 2020 2019
£ £ £ £ £
Cost brought forward
7,373,253		 7,224,473 6,247,798 6,247,798 5,326,090
Purchased additions in year 1,700,000 202,100 380,000 - 921,708
Donated additions in year - - 596,675 - -
Disposals in year - (53,320) - - -
Cost carried forward 9,073,253 7,373,253 7,224,473 6,247,798 6,247,798

It is not practical to separately identify the amount spent on maintaining these assets as it is so integral to the general work of the Trust.

Page 33

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14) Investments

Investments
Mixed
motive
investments		 Listed
investments		 Other
investments		 Total
- properties
£ £ £ £
Charity
Cost or valuation
At 1 April 2022 2,698,991 383,866 10,000 3,092,857
Additions - - - -
Disposals - - - -
Gains / (losses) on revaluation 177,589 (25,544) - 152,045
At 31 March 2023 2,876,580 358,322 10,000 3,244,902
Carrying amount



At 31 March 2023 2,876,850 358,322 10,000 3,244,902
At 31 March 2022 2,698,991 383,866 10,000 3,092,857
Group

Cost or valuation
At 1 April 2022 2,698,991 383,866 - 3,082,857
Additions - - - -
Disposals - - - -
Gains / (losses) on revaluation 177,589 (25,544) - 152,045
At 31 March 2023 2,876,580 358,322 - 3,234,902
Carrying amount


At 31 March 2023 2,876,580 358,322 - 3,234,902
At 31 March 2022 2,698,991 383,866 - 3,082,857
Investments at fair value comprise:
Group Charity
2023 2022 2023 2022
£ £ £ £
Mixed motive investments -
properties		 2,876,580 2,698,991 2,876,580 2,698,991
Listed investments – Equities 358,322 383,866 358,322 383,866
Other investments - - 10,000 10,000
3,234,902 3,082,857 3,244,902 3,092,857

Page 34

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14) Investments (continued)

Mixed motive investment - properties

Investment properties were subject to an independent, professional valuation at 31 March 2016. The valuation was undertaken by James Del Mar BSC Hons, FRICS on behalf of Knight Frank LLP. The fair value of investment properties is determined by reference to market value as defined within RICS Valuation – Professional Standards. The Land Registry house price index has been used to estimate movements in the market within Wiltshire, the movement in value during the year was insignificant and no adjustment to the values have been applied. Full professional revaluations will be conducted with sufficient regularity to ensure that the carrying value in the accounts does not differ materially from the fair value of the asset.

The historic cost equivalent of investment property included at fair value is as follows:

Cost
Accumulated depreciation
Net book value		 2023
£
1,547,216
(567,418)
979,798		 2022
£
1,309,716
(535,682)
774,034

Equity investments

Equity investments are held in the M&G Charifund – Equities Investment Fund for Charities (Income) and traded in quoted public markets. The charity was gifted shares in 16 different companies in 2021. The fair value of these investments is determined by reference to the equivalent market value, using the bid price at the balance sheet date.

Other investments

Other investments are measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and fair value cannot otherwise be measured reliably. Included within other investments is a shareholding in a 100% owned subsidiary, Wiltshire Environmental Enterprises Limited, a company incorporated in the United Kingdom. At the year end date, the aggregate capital and reserves of the company amounted to £20,063 (2022: £20,825). Further details concerning the activities and assets of this company are given in note 28.

15) Stock

Group Charity
2023 2022 2023 2022
£ £ £ £
Livestock and hay 199,420 194,725 199,420 194,725

Page 35

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16) Debtors

Trade debtors
Grant debtors
Gift aid debtor
Other debtors
Prepayments and accrued income
VAT debtor
Amounts owed by group undertakings		 Group
2023
2022
£
£
514,758
574,247
372,134
196,716
35,693
36,905
-
-
124,659
384,913
-
11,777
-
-
1,047,244
1,204,558		 Charity
2023
2022
£
£
514,758
574,247
372,134
196,716
35,693
36,905
-
-
124,659
384,913
-
11,375
26
13
1,047,270
1,204,169		 Charity
2023
2022
£
£
514,758
574,247
372,134
196,716
35,693
36,905
-
-
124,659
384,913
-
11,375
26
13
1,047,270
1,204,169
1,204,169

Included within prepayments and accrued income is £7,621 (2022: £13,771) due in more than one year.

17) Creditors: Amounts falling due within one year

Mortgage
Trade creditors
Other creditors
Other taxes and social security
Accruals
Deferred income		 Group
2023
2022
£
£
10,040
11,548
87,954
40,658
30,492
30,679
64,879
42,010
106,537
94,540
3,205
29,734
303,107
249,169		 Charity
2023
2022
£
£
10,040
11,548
87,954
40,658
30,492
30,679
65,419
42,010
105,837
93,940
3,205
29,734
302,947
248,569		 Charity
2023
2022
£
£
10,040
11,548
87,954
40,658
30,492
30,679
65,419
42,010
105,837
93,940
3,205
29,734
302,947
248,569
248,569

Included within creditors above are pension creditors of £19,935 (2022: £17,701). The concessionary loan was repayable on demand, was interest free, and was repaid within the year.

Page 36

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18) Creditors: Amounts falling due after more than one year

Mortgage
19)
Deferred income
Charity and group
Balance deferred at 1 April 2022
Amount released to income
Amount deferred in the year
Balance deferred at 31 March 2023
20)
Secured creditors
Mortgages repayable by
instalments:
Within one year
Within one – two years
Within two – five years
In more than five years
Total		 Group
2023
2022
£
£
40,529
50,086
Donations,
legacies and
grants
Other
trading
activities
£
£
17,699
12,035
(15,096)
(12,035)
602
-
3,205
-
Group
2023
2022
£
£
10,040
11,548
10,580
11,758
29,949
38,328
-
-
50,569
61,634		 Charity
2023
2022
£
£
40,529
50,086
2023
2022
£
£
29,734
32,743
(27,131)
(15,044)
602
12,035
3,205
29,734
Charity
2023
2022
£
£
10,040
11,548
10,580
11,758
29,949
38,328
-
-
50,569
61,634		 Charity
2023
2022
£
£
40,529
50,086
2023
2022
£
£
29,734
32,743
(27,131)
(15,044)
602
12,035
3,205
29,734
Charity
2023
2022
£
£
10,040
11,548
10,580
11,758
29,949
38,328
-
-
50,569
61,634
61,634

The mortgage is secured on the property known as Elm Tree Court, Long Street, Devizes, and is for a term of 20 years from April 2008. Interest is charged at 1.125% above bank base rate and monthly repayments are made. The net book value of Elm Tree Court as at 31 March 2023 was £237,363 (2022: £246,502).

21) Commitments under operating leases

Total future minimum lease payments under non-cancellable operating leases are as follows:

Group and charity
Not later than one year
Later than one year and not later than five years		 2023
£
1,980
3,960
5,940		 2022
£
17,500
5,940
23,440

Page 37

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22) Restricted funds

Year ended 31 March 2023

CAPITAL FUND
Nature Reserves Capital Fund –
Land
Nature Reserves Capital Fund –
Buildings
OTHER FUNDS
Water Team Core
Green Lane Wood
Swindon Reserves Management
WSBRC - Bio Records
The Swindon Wellbeing
Programme
Wellbeing Project
Morningside Farm
Semley Woodlands
West Wiltshire Reserves
UASC
The Willows Care Farm
Emmett Hill
Great Wood
Action for Insects
Bristol Avon Catchment Market
Bay Meadows		 Balance
1.4.22
Capital
(as
restated)
£
7,373,253
1,459,418
8,832,671
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,832,671		 Balance
1.4.22
Income
(as
restated)
£
-
-
-
217,883
24,928
84,411
141,857
39,127
14,614
26,577
33,738
53,700
36,730
34,852
(1,187)
-
51,892
11,796
1,947
772,865
772,865		 Net
movement
in funds
£
1,700,000
(36,590)
1,663,410
465,005
(9,590)
(23,031)
39,881
(6,569)
(3,373)
(8,000)
(5,285)
(53,700)
(30,009)
(27,598)
1,187
8,226
(10,140)
18,787
(65,890)
289,901
1,953,311		 Balance
31.3.23
Capital
£
9,073,253
1,422,828
10,496,081
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,496,081		 Balance
31.3.23
Income
£
-
-
-
682,888
15,338
61,380
181,738
32,558
11,241
18,577
28,453
-
6,721
7,254
-
8,226
41,752
30,583
(63,943)
1,062,766
1,062,766

Page 38

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22) Restricted funds (continued)

Year ended 31 March 2022 (as restated)

CAPITAL FUND
Nature Reserves Capital Fund –
Land
Nature Reserves Capital Fund –
Buildings
OTHER FUNDS
Water Team Core
Green Lane Wood
Swindon Reserves Management
WSBRC - Bio Records
Milestones
The Swindon Wellbeing
Programme
Purchase and Restoration of Chalk
Grassland, Coombe Bissett
Wellbeing Project
Morningside Farm
Semley Woodlands
West Wiltshire Reserves
UASC
The Willows Care Farm
Emmett Hill
Action for Insects
Bristol Avon Catchment Market
Bay Meadows		 Balance
1.4.21
Capital
£
7,224,473
1,260,293
8,484,766
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,484,766		 Balance
1.4.21
Income
£
-
-
-
94,254
62,838
78,365
87,022
(1,499)
20,892
52,046
20,537
28,577
34,065
37,700
11,778
-
(1,631)
-
-
-
524,944
524,944		 Net
movement
in funds
£
148,780
199,125
347,905
123,629
(37,910)
6,046
54,835
1,499
18,235
(52,046)
(5,923)
(2,000)
(327)
16,000
24,952
34,852
444
51,892
11,796
1,947
247,921
595,826		 Balance
31.3.22
Capital
£
7,373,253
1,459,418
8,832,671
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,832,671		 Balance
31.3.22
Income
£
-
-
-
217,883
24,928
84,411
141,857
-
39,127
-
14,614
26,577
33,738
53,700
36,730
34,852
(1,187)
51,892
11,796
1,947
772,865
772,865

This note gives details of some of the areas of work for which the Trust receives Restricted Funds. It should be noted that the figures shown refer only to the Restricted Funds allocated to an area of work and do not reflect the total income applied to that area of work.

Income and expenditure for all areas of work are also funded from designated and unrestricted income. Any small deficit balances at the year end reflect expenditure in advance of related income being received.

Page 39

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22) Restricted funds (continued)

The Nature Reserves Capital Fund: Is represented by the nature reserves owned by the charity. Any decision taken to dispose any of these nature reserves may be subject to discussions with the original funders. It also includes the value of the farmhouse and buildings acquired at the same time as the land at Clattinger Farm, Blakehill Farm and Langford Lakes Nature Reserve.

The Water Team Core: Delivers various projects and programmes throughout Wiltshire and Swindon to improve waterways.

Green Land Wood: Funds for Green Lane Wood are to be used to mitigate the effects of a large housing development adjacent to the woods.

Swindon Reserves Management: A project to maintain the Nature Park at Tadpole Farm Housing Development and undertake work in association with Swindon Borough Council to enhance and maintain the Meadows in and around Swindon.

The Wiltshire and Swindon Biological Records Centre (WSBRC): Is a ‘One Stop Shop’ for biological records and other data in Wiltshire and Swindon.

Milestones: The programme connects vulnerable young people aged 11-24 to their local, natural environment by offering opportunities to participate in practical activities and widen their knowledge and appreciation of local green spaces.

The Swindon Wellbeing Programme: Funded by the National Lottery Community Fund to support mental and emotional wellbeing through nature based activities.

Purchase and Restoration of Chalk Grassland, Coombe Bissett: The project reconnects the SSSI and the County Wildlife Site at Homington and Coombe Bissett. The project funded by the National Lottery Heritage Fund will restore the land to chalk grassland and further protect, maintain and enhance the priority habitat and threatened species it supports. In addition, it will provide improved access, volunteer, training and education activities.

Wellbeing Project: Is funded by Wiltshire Council and uses outdoor activities in nature as a therapeutic measure to prevent ill health and support mental health recovery.

Morningside Farm: Funds held to undertake essential capital works, improve the site condition and support the volunteer group with conservation and monitoring.

Semley Woodlands: Monies set aside to undertake essential works to the woodlands at Semley and for ongoing maintenance.

West Wiltshire Reserves: Funds held for monitoring, improvement and capital works of reserves in West Wiltshire.

UASC: A project funded by Wiltshire Council to support the Social and Emotional Mental Health for Unaccompanied Asylum Seeking and Refugee Young People in Wiltshire

The Willows Care Farm: Monies held to undertake the capital works at the new Care Farm based at Mill Farm, Broughton Gifford

Emmett Hill: A project to support the long term recovery of the Marsh Fritillary Butterfly.

Action for Insects: Green Recovery Challenge Fund monies received to take action for insects across a number of Trust reserves to support conservation grazing, surveying and monitoring and help to halt and reverse the decline in invertebrate populations across the County.

Bristol Avon Catchment Market: a collaborative project funded by the Green Recovery Challenge Fund to kickstart a Market for nature-based solutions.

Great wood: This is a long-term project that will restore Great Wood to its former glory.

Bay Meadows: a Heritage Lottery funded project to acquire the site, undertake capital improvements to enhance habitat and the nature park. Restricted match funding has been secured for the overall project.

Included within the investment properties fund are net unrealised gains of £1,874,496.

Page 40

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23) Unrestricted funds

Year ended 31 March 2023

Designated
nature recovery
funds
Nature recovery
Investment
properties
(including
revaluation
reserve)
Designated funds
Land Acquisition
Fund
Lower Moor Farm
Climate Change
Swindon Allotment
Landscape
Ecology
Bay Meadows
Jones Mill
Youth Education &
Wellbeing
Unrestricted
funds
General fund
Funds of charity
Funds of subsidiary
company
Funds of group		 Balance
1.4.22
Capital
(as
restated)
£
2,698,991
2,698,991
-
-
-
-
-
-
-
-
-
1,091,635
3,790,626
-
3,790,626		 Balance
1.4.22
Income
(as
restated)
£
1,054,825
1,054,825
126,203
282,404
60,279
6,101
103,931
60,000
-
37,197
676,115
657,433
2,388,373
10,825
2,399,198		 Net movement
in funds
£
1,990
177,589
179,579
(126,203)
(137,264)
(15,807)
702
(8,662)
(2,262)
57,500
12,829
(219,167)
(215,546)
(255,134)
(762)
(255,896)		 Balance
31.3.23
Capital
£
2,876,580
2,876,580
-
-
-
-
-
-
-
-
-
1,094,295
3,970,875
-
3,970,875		 Balance
31.3.23
Income
£
1,056,815
1,056,815
-
145,140
44,472
6,803
95,269
57,738
57,500
50,026
456,948
439,227
1,952,990
10,063
1,963,053

Page 41

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23) Unrestricted funds (continued)

Year ended 31 March 2022 (as restated)

Designated
nature recovery
funds
Nature recovery
Investment
properties
(including
revaluation
reserve)
Designated funds
Land Acquisition
Fund
Langford Lakes
Development
Lower Moor Farm
Development
Lower Moor Farm
Conservation
Care Farm
Operations
Climate Change
Swindon Allotment
Landscape
Ecology
Bay Meadows
Youth Education &
Wellbeing
Unrestricted
funds
General fund
Funds of charity
Funds of subsidiary
company
Funds of group		 Balance
1.4.21
Capital
£
2,211,604
2,211,604
-
-
-
-
-
-
-
-
-
-
-
891,032
3,102,636
-
3,102,636		 Balance
1.4.21
Income
£
527,563
527,563
126,203
77,305
95,850
77,126
33,441
51,591
5,653
120,489
60,000
18,568
666,226
1,020,454
2,214,243
11,760
2,226,003		 Net movement
in funds
£
527,262
487,387
1,014,649
-
(77,305)
46,674
62,754
(33,441)
8,688
448
(16,558)
-
18,629
9,889
(162,418)
862,120
(935)
861,185		 Balance
31.3.22
Capital
£
2,698,991
2,698,991
-
-
-
-
-
-
-
-
-
-
-
1,091,635
3,790,626
-
3,790,626		 Balance
31.3.22
Income
£
1,054,825
-
1,054,825
126,203
-
142,524
139,880
-
60,279
6,101
103,931
60,000
37,197
676,115
657,433
2,388,373
10,825
2,399,198

The charity’s income includes funds that are designated by the charity in agreement with the funder for use on particular activities and projects.

Page 42

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23) Unrestricted funds (continued)

This note gives details of some of the areas of work for which the Trust receives Designated Funds. It should be noted that the figures shown refer only to the Designated Funds allocated to an area of work and do not reflect the total income applied to that area of work. Income and expenditure for all areas of work are also funded from restricted and unrestricted income.

Nature Recovery: A designated fund to support the recovery of nature.

Investment properties (including revaluation reserve): the mixed motive investment properties are located on the Trusts Nature Reserves. These are retained to ensure sites can be strategically managed therefore are used for staff accommodation and residential letting.

Land Acquisition Fund: Appeal, legacies, donations and land sale proceeds to be used for future land acquisitions.

Langford Lakes Development: Funds set aside for the enhancement of the visitor facilities at the nature reserve lying alongside the River Wylye at Steeple Langford.

Lower Moor Farm: Funds are to support and develop visitor facilities and conservation objectives at the Lower Moor Farm complex.

Care Farm Operations: Includes lakeside based at Lower Moor Farm and The Willows based at Broughton Gifford. The Care Farms enable young people to work with nature in a farming and horticultural environment. It promotes physical and mental health and wellbeing through therapeutic and educational activities.

Climate Change: Monies allocated from the WWCE Community Fund and other grants to support climate change mitigation in Wiltshire.

Swindon Allotment: Funds received to support the Swindon Allotment group in association with the Swindon Wellbeing project.

Landscape Ecology: Grants and donations received to support the employment of a Landscape Ecologist.

Swindon Lagoons: A project to enhance the reserve at Swindon Lagoons.

Bay Meadows: Monies received from The Hills Group to undertake capital works on the Bay Meadows site.

Youth Education and Wellbeing - offers a wide range of workshops, events and training to schools and community groups through nature based activities.

Jones Mill: A designated fund to ensure the adequate maintenance of Jones Mill.

24) Transfer between funds

Transfers totalling £30,550 were made during the year to reflect the movement in fixed assets and financing of them.

Page 43

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25) Group analysis of net assets between funds

As at 31 March 2023

As at 31 March 2022 (as restated)
Designated
£
Tangible fixed assets
-
Heritage assets
-
Investment property
2,698,991
Other investments
383,866
Stock and work in progress
-
Debtors
-
Cash
1,360,326
Current liabilities
(13,252)
Creditors more than one
year
-
4,429,931
Designated
£
Tangible fixed assets
-
Heritage assets
-
Investment property
2,876,580
Other investments
358,322
Stock and work in progress
-
Debtors
233,826
Cash
921,615
Current liabilities
-
Creditors more than one
year
-
4,390,343
 As at 31 March 2022 (as restated)
Designated
£
Tangible fixed assets
-
Heritage assets
-
Investment property
2,698,991
Other investments
383,866
Stock and work in progress
-
Debtors
-
Cash
1,360,326
Current liabilities
(13,252)
Creditors more than one
year
-
4,429,931
Designated
£
Tangible fixed assets
-
Heritage assets
-
Investment property
2,876,580
Other investments
358,322
Stock and work in progress
-
Debtors
233,826
Cash
921,615
Current liabilities
-
Creditors more than one
year
-
4,390,343
 General
Fund
£

1,091,635

-

-

-

194,725

594,338

60,246

(181,051)

-

1,759,893
General
Fund
£
1,094,293
-
-
-
199,420
304,816
111,812
(166,756)
-
1,543,585		 Nature
Reserve
Capital
Fund
£
1,459,418
7,373,253
-
-
-
-
-
-
-
8,832,671
Nature
Reserve
Capital
Fund
£
1,422,828
9,073,253
-
-
-
-
-
-
-
10,496,081		 Other
Restricted
Funds
£
-
-
-
-
-
610,220
267,597
(54,866)
(50,086)
772,865
Other
Restricted
Funds
£
-
-
-
-
-
508,602
731,044
(136,351)
(40,529)
1,062,766		 Total
Funds
£
2,517,121
9,073,253
2,876,580
358,322
199,420
1,047,244
1,764,471
(303,107)
(40,529)
17,492,775









4,429,931

26) Contingent liabilities

At the balance sheet date, the Trust Council were not aware of any material contingent liabilities (2022: £nil).

27) Contingent assets

At the balance sheet date, the Trust Council were not aware of any material contingent assets. The charity had received a large proportion of legacies outstanding in 2021 and accrued the balance of £97,771 for outstanding legacies.

Page 44

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

28) Subsidiary company – Wiltshire Environmental Enterprises Ltd

The charity has a wholly owned trading subsidiary, Wiltshire Environmental Enterprises Ltd, company number 01674944, which is incorporated in the United Kingdom. The principal activity of Wiltshire Environmental Enterprises Limited was environmental consultancy work, no activity was undertaken in 2022. The company is able to gift aid its taxable profits to Wiltshire Wildlife Trust Limited.

A summary of the financial performance of the subsidiary is shown below:


Turnover
Cost of sales and administration expenses
Gross profit
Administrative expenses
Operating profit
Interest receivable
Amount gift aided to Wiltshire Wildlife Trust Limited
Loss on ordinary activities before taxation
Tax on loss on ordinary activities
Loss for the financial year
The aggregate of assets and liabilities were:
Current assets
Current liabilities
Total net assets
Aggregate share capital and reserves		 2023
£
-
-
-
(806)
(806)
44
-
(762)
-
(762)
20,249
(727)
20,063
20,063		 2022
£
-
-
-
(937)
(937)
2
-
(935)
-
(935)
21,438
(613)
20,825
20,825

29) Financial results of the charity

The gross income for the year of the charity alone is £7,120,673 (2022: £5,571,816) and the surplus for the year of the charity alone is £1,698,177 (2022: £1,457,946).

30) Reconciliation of net income to net cash flow from operating activities

Net income for the year
Rents received from investment properties
Dividends and interest receivable
Interest payable
Depreciation of tangible fixed assets
Profit on disposal of tangible fixed assets
(Gains) / losses on investments
(Increase) / decrease in stock
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities		 Group
2023
2022
£
£
1,697,415
1,457,011
(74,796)
(73,940)
(22,737)
(21,903)
1,831
916
149,027
125,013
(6,997)
(73,716)
(152,045)
(276,807)

(4,695)
(14,205)

157,314
(66,554)

55,446
(179,570)
1,799,763

876,245
 Charity
2023
2022
£
£
1,698,177
1,457,944
(74,796)
(73,940)
(22,693)
(21,903)
1,831
873
149,027
125,013
(6,997)
(73,716)
(152,045)
(276,806)
(4,695)
(14,205)
156,899
(66,385)
55,886
(179,570)
1,800,594

877,305		 Charity
2023
2022
£
£
1,698,177
1,457,944
(74,796)
(73,940)
(22,693)
(21,903)
1,831
873
149,027
125,013
(6,997)
(73,716)
(152,045)
(276,806)
(4,695)
(14,205)
156,899
(66,385)
55,886
(179,570)
1,800,594

877,305
877,305

Page 45

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

31) Reconciliation of net cash flow to movement in net debt

Group

Debt due within one year
Debt due after one year
Total debt
Cash and cash equivalents
Total net funds
Charity
Debt due within one year
Debt due after one year
Total debt
Cash and cash equivalents
Total net funds		 2022
£
(11,548)
(50,086)
(61,634)
1,688,169
1,626,535
2022
£
(11,548)
(50,086)
(61,634)
1,667,133
1,605,499		 Cash
flows
£
(210)
11,274
11,064
76,289
87,353
Cash
flows
£
(210)
11,274
11,064
77,075
88,139		 2023
£
(11,758)
(38,812)
(50,570)
1,764,458
1,713,888
2023
£
(11,758)
(38,812)
(50,570)
1,744,208
1,693,638

32) Financial commitments

Contractual commitments for the acquisition of tangible fixed assets contracted for but not provided in the financial statements amounted to £nil (2022: £nil).

33) Related parties

The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Wiltshire Wildlife Trust is one of 11 members of South West Wildlife Fundraising Limited (SWWFL). James Ravine, Head of Fundraising and Communications is a director of SWWFL from March 2022. Dugald McNaughtan was a director from April to August 2021. During the year payments totalling £143,211 (2022: £123,800) were made to SWWFL in respect of commission payable on member recruitment.

A Trustee, Julian Barlow is a Trustee on the Wiltshire Wildlife Community Energy Limited (WWCE) Board with Damian Haasjes, Head of Business Development and Community Engagement a representative on the Community Group. Income of £19,100 (2022: £1,532) was received from WWCE during the year. WWCE fund 50% of the costs of the Carbon Reduction Champion to undertake engagement and community activities associated with the caron reduction remit. Income of £5,000 (2022: £5,000) was received from Chelworth Community Solar, 100% subsidiary of WWCE.

As described in note 36, one of the Trustees underwrote an initiative to raise funds directly to a landfill operator under the Landfill Community Fund Tax Credit scheme. This transaction was effectively between the landfill operator, the wider membership and the Trustee directly and outside of the Charity’s control.

Page 46

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

34) Financial instruments

The carrying amount of the charity’s financial instruments are as follows:

Group
Financial assets
Measured at fair value through net income:
- Fixed asset listed investments (note 14)
Debt instruments measured at amortised cost:
- Trade debtors (note 16)
Financial liabilities
Measured at amortised cost:
- Mortgages (notes 17 – 18)
- Trade creditors (note 17)
Charity
Financial assets
Measured at fair value through net income:
- Fixed asset listed investments (note 14)
Debt instruments measured at amortised cost:
- Trade debtors (note 16)
- Amounts owed by group undertakings (note 16)
Equity instruments measured at amortised cost less impairment:
- Fixed asset unlisted investments (note 14)
Financial liabilities
Measured at amortised cost:
- Mortgages (notes 17 - 18)
- Trade creditors (note 17)		 2023
£
358,322
514,758
50,570
87,954
138,524
2023
£
358,322
514,758
26
514,784
10,000
50,570
87,954
138,524		 2022
£
383,866
574,247
61,634
28,540
90,174
2022
£
383,866
574,247
13
574,260
10,000
61,634
28,540
90,174

35) Ultimate controlling party

The Trustees consider that the charity is jointly controlled by the Trustees and that there is no ultimate controlling party.

36) Funds held as agent

In line with the requirements of the Landfill Community Fund Tax Credit scheme – a Landfill Operator sometimes requires a third party contribution of up to 10% of any grants made under the scheme.

The Charity held £227,853 (2022: £27,725) as agents. £200,000 of this related to funds raised directly by the membership payable to a Landfill operator under the under the Landfill Communities Fund arrangements. This sum was repayable to a Trustee who underwrote the arrangement. Furthermore, the Charity held £27,853 (2022: £28,725) on behalf of small local environmental organisations which has been excluded in the same way, for which movements are immaterial.

37) Prior year adjustment

The prior year adjustment represents the re-classification of the investment properties (including revaluation reserve) as designated funds on the basis that the trustees consider this to more appropriately reflect the status of those properties.

Page 47

WILTSHIRE WILDLIFE TRUST LIMITED DETAILED CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023


INCOME
Donations and legacies
Membership subscriptions
Gift Aid
Donations and appeals
Donations
Appeal income
In Memoriam donations
Legacies
Total donations and legacies
Income from charitable activities
Grants
Landfill tax
Biffa
Hills Group
Other Landfill tax
Charitable Trust
Other
WSRBC Income
Income generated from WWT facilities
Nature Reserve Income
Grounds and Education services
Other
Total income from charitable activities
Income from other trading activities
Group events
Sarsen trail
Other Fundraising activities
Retail
Total income from other trading activities
Income from Investments
Rent receivable
Income from investments
Bank and building society interest received
Other interest
Total income from Investments
Other income
TOTAL CHARITY INCOME
TOTAL CHARITY EXPENDITURE
(LOSS) / GAINS ON INVESTMENTS
NET INCOME OF CHARITY FOR THE YEAR		 2023
£
£
625,241
141,566
63,238
11,004
13,067
87,309
(12,860)
841,256
2,177,522
1,707,156
335,000
68,904
2,111,060
69,400
88,616
139,815
1,325,916
44,513
1,598,860
5,956,842
195
-
191,853
5,317
197,365
74,796
22,444
146
103
97,489
27,721
7,120,673
(5,574,541)
152,045
1,698,177		 2023
£
£
625,241
141,566
63,238
11,004
13,067
87,309
(12,860)
841,256
2,177,522
1,707,156
335,000
68,904
2,111,060
69,400
88,616
139,815
1,325,916
44,513
1,598,860
5,956,842
195
-
191,853
5,317
197,365
74,796
22,444
146
103
97,489
27,721
7,120,673
(5,574,541)
152,045
1,698,177		 2022
£
£
605,767
153,297
77,937
106,679
3,029
187,645
662,747
1,609,456
1,878,238
340,000
150,438
490,438
38,372
82,076
111,867
1,084,655
-
1,278,598
3,685,646
141
-
105,674
21,420
127,235
73,940
21,901
2
-
95,843
53,634
5,571,814
(4,390,675)
276,807
1,457,946		 2022
£
£
605,767
153,297
77,937
106,679
3,029
187,645
662,747
1,609,456
1,878,238
340,000
150,438
490,438
38,372
82,076
111,867
1,084,655
-
1,278,598
3,685,646
141
-
105,674
21,420
127,235
73,940
21,901
2
-
95,843
53,634
5,571,814
(4,390,675)
276,807
1,457,946
1,707,156
335,000
68,904		 340,000
150,438
841,256
2,177,522
2,111,060
69,400
1,598,860
5,956,842
197,365
97,489
27,721		 1,609,456
1,878,238
490,438
38,372
1,278,598
3,685,646
127,235
95,843
53,634
88,616
139,815
1,325,916
44,513		 82,076
111,867
1,084,655
-
195
-
191,853
5,317		 141
-
105,674
21,420
74,796
22,444
146
103		 73,940
21,901
2
-
7,120,673 5,571,814
(5,574,541)
152,045		 (4,390,675)
276,807
1,698,177 1,457,946

This page does not form part of the statutory financial statements

Page 48

WILTSHIRE WILDLIFE TRUST LIMITED DETAILED CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

EXPENDITURE
Salaries
Pension contributions
Staff recruitment
Travel
Training
Reserve maintenance and improvements
Rent and rates
Light, heat and cleaning
Telephone
Printing and stationery
Insurance
Wiltshire Wildlife Magazines
Display and publicity
Resource materials
Repairs and renewals
Software support
Event costs
Meetings
National and regional contributions:
- RSWT
- SWWT
Subscriptions
Fundraising
Legal fees
Audit, accountancy and VAT consultancy
Bad debts
Sundries
Depreciation
(Profit)/Loss on disposal of fixed asset
Mortgage interest
Bank charges
ENTRUST
Irrecoverable VAT		 2023
£
2,669,707
191,326
8,684
65,937
41,348
1,275,470
18,438
51,289
34,720
41,329
161,003
22,333
79,394
78,485
186,564
42,962
102,233
1,936
41,250
68
22,134
170,553
25,586
33,473
1,098
38,358
149,027
(6,997)
1,831
10,157
13,659
1,186
5,574,541		 2022
£
2,153,940
163,379
7,500
62,222
51,755
850,564
17,953
31,761
32,107
48,229
117,564
17,996
56,406
101,060
134,677
25,304
56,577
900
35,500
-
26,505
198,802
54,839
30,088
(7,775)
37,010
125,013
(73,716)
873
10,780
13,995
8,867
4,390,675

The acquisition of Nature Reserves and other capital assets is not shown in the expenditure figures above which represent revenue costs only. These acquisitions are added to the balance sheet figure for heritage assets or fixed assets as shown in notes 12,13 and 14 to the statutory accounts. During the year capital additions were as follows:

Funds expended on capital additions
Donated assets
Funds expended on heritage asset additions		 2023
£
116,208
1,700,000
1,816,208		 2022
£
778,204
-
202,100
980,304

This page does not form part of the statutory financial statements

Page 49