2024-03-31-accounts

Company number 00730536

WILTSHIRE WILDLIFE TRUST LIMITED

REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

WILTSHIRE WILDLIFE TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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
Independent Auditors Report	17 - 19
Consolidated Statement of Financial Activities (including Income and Expenditure Account)	20
Consolidated and Charity Balance Sheet	21
Consolidated and Charity Statement of Cash Flows	22
Notes to the Financial Statements	23 - 46
The following pages do not form part of the statutory Financial Statements
Detailed Charity Income and Expenditure Account	47 - 48

WILTSHIRE WILDLIFE TRUST LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024

Registered Charity Number 266202

Company Registration Number 00730536

Patron

Robert Floyd

TRUSTEES President

Vacant

Chair

Mr M Street

Treasurer

Mr M Jolley (from August 2023) Mr P Luck (to August 2023)

Council Members

Mr J Barlow Major General (Retd) C Fattorini Mrs S Wyatt Mr P Maynard Mr T Gilson Mrs F Goff Dr Richard Gantlett (from October 2023) Dr Philip Heads (from October 2023) Mrs Dagmar Junghanns (from October 2023) Mr M Allez (to August 2023) Ms C Pfarre (to October 2023)

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

KEY MANAGEMENT PERSONNEL

Mrs J Lewis - Chief Executive (from August 2023) Dr G J Mantle MBE - Chief Executive (to September 2023) 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 2024

Registered Office and Head Office

Wiltshire Wildlife Trust Limited Elm Tree Court, Long Street Devizes, Wiltshire SN10 1NJ Telephone: [phone]

Email: [e-mail] 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 2024

After seven years as a Trustee and three as the Chair this will be my final Foreword to the Impact Report and Annual Accounts. I am very pleased to be handing over to the very astute Phil Heads our new Chair who will lead the Trustees well.

The last 12 months have seen another record level of investment of funds in our charitable purposes with all of the executive functions within the Trust working at full pace, you will see some of the examples on the following pages.

As we move forward under the new leadership of Jo Lewis with a refreshed Director team we have set some important foundations in delivering our strategy. We’re building partnerships, leading the way in financing nature outcomes, and creating more space for nature on farms. We also continue to offer vital educational programs and support nature-based wellbeing for all ages and communities.

In the year we have been very fortunate to receive a very generous gift of a precious stretch of the River Wylye, upstream from our Langford Lakes reserve from the CH Dixon Charitable Trust. This has come at a time when we are leading on the River Wylye Chak Stream Landscape Recovery Project. This will allow for better connectivity and management of the river ecosystem, benefiting both the new stretch and the existing reserve.

There will be some careful planning needed if we want to continue growing the scale of our delivery but I am sure that with both our 2030 goals and your ongoing support we can make Wiltshire a better place for everyone. However you contribute, thank you, you do make a difference.

Mr M Street Chair of Trustees

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2024. 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 over 140 staff and over 1,800 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 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 23,000 members and look after 42 nature reserves and complexes. This year we have continued to protect habitats in Wiltshire with the acquisition of Bishopstone and Dixon Meadows at Hanging Langford. The Swindon Forest meadows project has created volunteer opportunities and the Bristol Avon Catchment Market has continued to support the establishment of projects for nature. Education and Wellbeing remain a key priority for the Trust by 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 Banister Trust 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.

IMPACT REPORT

The information that follows including the Building a Wilder Wiltshire, 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 2024

A WORD FROM OUR CHIEF EXECUTIVE

In my first year as CEO, I have had the privilege of witnessing first-hand the positive impact the Trust has on so many special landscapes and so many people’s lives across Wiltshire and Swindon.

Connecting people with nature is a big focus for the Trust. I find it so inspiring to hear the stories of how our Care Farms and Wellbeing teams offer renewed hope to those facing mental health challenges. We recognise that numbers and statistics will never do justice to such transformative impacts. This nature based provision changes lives.

I am delighted that five new Wildlife Watch groups for families have been established this year, taking us to eight across the county. Our volunteers contributed 11,785 hours in support of our mission. Our Swindon Forest Meadows collaboration with Swindon Borough Council mobilised volunteers from all walks of life to plant a phenomenal 12,000 trees this year. All helping us to realise our ambition to encourage 1 in 4 people to take action for nature.

We were pleased that BBC Countryfile shone a spotlight in March on our two new nationally important reserves at Great Wood and Bay Meadows, safeguarding threatened ancient woodland and chalk-stream habitats for a wide range of species such as goshawks, otters, water voles and brown trout. A huge thank you to Biffa Award, the National Lottery Heritage Fund, The Hills Group, The Underwood Trust and all those who donated to our appeals.

Wiltshire is above all a farming county and farmers need support to lead nature’s recovery and restore the abundance of much-loved farmland birds like skylarks, yellowhammers, lapwing and grey partridge.

We are thrilled to share the exciting news that Wiltshire Wildlife Trust has taken on management of 200 acres of farmland at Great Chalfield Manor for the next half-century, as part of an exciting new collaboration with the National Trust and Great Western Community Forest. We plan to balance the needs of nature’s recovery and climate-resilient food production at Great Chalfield. Additionally, we aim to support farmers in understanding the new incentive framework for nature-friendly farming.

This collaboration brings Wiltshire Wildlife Trust back to the family home of our former chair and current patron, Robert Floyd, whose father Charles was one of the Trust’s founders. Great Chalfield has always been a special place, where space is made for nature in the farmed landscape. Our aim now is to create a learning hub for farmers that showcases how nature and trees can be an integral part of a regenerative farming system. We look forward to sharing our progress in our next Impact Report.

Jo Lewis Chief Executive

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Building a Wilder Wiltshire: The Wildlife Trust’s Strategic Plan

We are confronted by an ecological and climate crisis that is already affecting the three foundational elements of sustainable living: nature, people, and the economy. Our vision is to see a significant increase in the abundance of nature, which people can experience and enjoy in their everyday lives. Our 2030 strategy builds upon our previous accomplishments to restore nature at scale, and to inspire people to live in a more sustainable manner. Our goals are:

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:

• Doubling the area of land owned and managed by the Trust to 2,400 hectares.

• Restoring species abundance and diversity across Wiltshire and Swindon.

• Restoring natural processes on our land and in rivers.

People will be taking action

By 2030, people will be taking informed and meaningful action for nature and the climate and benefitting from having nature in their lives. To achieve this, we will:

• Empower 1 in 4 people to take significant and transformative action for nature.

• Help improve the health and wellbeing of people through their engagement with nature.

• Provide opportunities for all children and young people in Wiltshire to experience the joy of nature and kindle a lasting interest in wild places.

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:

• Get nature and climate at the heart of decision making.

• Create and promote nature-based solutions with partners to address the climate and nature emergencies.

• Support sustainable, healthy, productive and resilient ecosystem services across Wiltshire and Swindon.

Our Reserves

A Year of progress for Wiltshire’s Wildlife Conservation Land Management Team who protect over 40 nature reserves across Wiltshire.

Five woodlands in North Wiltshire were improved. 5 hectares were replanted with native broadleaved trees to combat ash dieback. 5 hectares of conifers were replaced with 4,600 native saplings.

Our nature reserves exemplify our commitment to leading by example. They provide the space and conditions for species to flourish, natural processes to re-establish, and ecosystems to become resilient. From restoring chalk grasslands for endangered butterflies to creating crucial nesting habitats for migrating birds, our reserves are not just stunning landscapes but are leading the way in nature’s recovery

The past year brought both challenges and triumphs for Wiltshire’s natural landscapes. While persistent rain tested the resilience of our dedicated staff, they worked tirelessly to mitigate the impact of the weather. We’ve begun implementing measures to fortify our reserves against extreme weather resulting from climate change, including projects aimed at alleviating flooding risks for neighbouring communities.

North Wiltshire reserves

At Lower Moor Farm nature reserve we installed a new path to significantly improve the accessibility of the site and protect the delicate habitats. These efforts, combined with Rhododendron removal, pond expansion and restoration at Great Wood, enhance biodiversity through creating thriving habitats. Botanical surveys revealed the richness of our flora, recording 358 different species, including 29 new additions. We actively enhanced chalk habitats on our grassland reserves, specifically targeting the needs of the Duke of Burgundy and marsh fritillary butterflies. This crucial work safeguards the future of these vital and vulnerable species.

South Wiltshire reserves

In South Wiltshire, conservation initiatives flourished. There were big changes at Langford Lakes nature reserve. We installed a new sand martin bank and hide overlooking Long Pond providing a crucial nesting habitat for these migrating birds. The bank also has viewing areas and live stream video cameras. We also acquired Dixon Meadows which sit adjacent to Langford Lakes and provides walking access to the River Wylye, a rare and ecologically important chalk stream. At Blackmoor Copse nature reserve we employed a different type of worker. A heavy horse was used to create a 400 metre clearing; horses are an ideal alternative to machinery as they can help protect ancient woodland soils.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Green Lane Wood and Biss Wood Complex

At Green Lane Wood and Biss Wood, a 10-year management programme is underway to enhance and protect the natural habitat. This integrates community engagement projects, ecological monitoring, habitat surveys, and infrastructure improvements, ensuring a holistic approach to conservation. The programme also looks to create buffer zones around the reserves, further safeguarding the biodiversity within the woodland.

The local community were invited to join a talk and walk about woodpeckers and bats in Green Lane Wood. This drew in an enthusiastic crowd who actively contributed to the project by searching for woodpecker holes in Green Lane Wood. These holes could potentially become future roosts for the rare Bechstein’s bat. This demonstrates the success of the Trust’s efforts to involve the community in monitoring and conservation activities.

Swindon Forest Meadows Project and Swindon Reserves

175 volunteers dedicated over 5,000 hours to the Swindon Forest Meadows project and 12,000 trees were planted across 11 sites

The Swindon Forest Meadows Project, in partnership with Swindon Borough Council, engaged 175 volunteers who dedicated over 5,000 hours to conservation efforts. A collaboration with the Great Western Community Forest and Trees for Climate, saw an amazing 12,000 trees planted across 11 sites. This, coupled with the establishment of a new tree nursery at Westcott Allotments, helps secure a sustainable future for our woodlands in Swindon.

The formation of a new self led volunteer group at Clouts Wood nature reserve to monitor and record at the site, led to the discovery of new populations of the nationally scarce rugged oil beetle. This underscores the growing community involvement in safeguarding local wildlife.

Farming

In Wiltshire, a county deeply rooted in farming, conservation grazing helps us balance the relationship between agriculture and environmental stewardship. Our practices create thriving habitats that support a greater variety of wildlife. We have made several improvements including updating the fencing at Lower Moor Farm which facilitated smoother calving operations by splitting the cows into two groups during calving season.

The farm team helped with our ambition to connect 1 in 4 people to nature by hosting an educational visit from Hardenhuish school, allowing young people to learn about the key activities our farming and estates team undertakes.

Water Team

Our Water Team is dedicated to the health and vitality of Wiltshire’s rivers, chalk streams, and wetlands. From restoring natural river flows to improving water quality and creating thriving habitats, this team works to ensure Wiltshire’s waterways are resilient and teeming with life.

Delivered habitat restoration advice across 9000ha of river. 15 ponds created or restored providing habitats for Great Crested Newts. Conducted restoration work on 64ha and 15km of river.

West Chisenbury Wetland

Wiltshire Wildlife Trust’s Water Team have been conducting pioneering work at West Chisenbury. This involved restoring a section of the River Avon, reestablishing its natural course and reconnecting it to its floodplain to create a thriving wetland ecosystem rich in diverse plants and animals. Crucially this is a first of its kind project on a chalk stream creating a natural braided river system, specifically designed to capture phosphates without the need for manmade materials or hard engineering.

We estimate that the three wetlands created at West Chisenbury will remove 18 kilos of phosphates per year. Removing phosphates significantly improves water quality as it prevents harmful algal blooms, protecting aquatic life and maintaining a balanced ecosystem. This project built on the team’s successes at Smallbrook Meadows, which created a network of wetland areas that provide breeding grounds, feeding areas, and refuge for numerous chalk stream species such as wild brown trout and water vole.

Together, the West Chisenbury Wetland and the restored wetlands at Smallbrook Meadows represent a major achievement in habitat restoration and conservation, benefiting local wildlife populations and contributing to the broader ecological health of the region.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Wylye Valley Landscape Recovery

In Autumn 2023 the team were successful in securing the highly competitive and prestigious Landscape Recovery Funding from Government for the ambitious Wylye Chalk Stream Project. Collaborating closely with Wessex Rivers Trust, landowners and farmers, the project aims to restore and protect 22km of this vital chalk river, a globally rare and threatened habitat.

The project aims to develop new ways to fund projects that will improve the health of this iconic river. This includes restoring the river’s natural flow and improving water quality, which will help to create better habitats for wildlife along its banks.

Volunteer action

Throughout the year, 80 active volunteers dedicated their time to monitor and protect our rivers through the Riverfly and Water Guardians projects. We were also grateful to a team of volunteers who assisted with the removal of non-native invasive species from our waterways through Himalayan balsam bashing. Their contributions were also vital during a busy spring of tree planting, an initiative that enhances water storage and alleviates pressure on rivers during periods of peak flow.

The Bristol Avon Catchment Market

The Bristol Avon Catchment Market (BACM), a partnership between Avon Wildlife Trust, Wiltshire Wildlife Trust and EnTrade, has achieved a remarkable milestone: launching the UK’s first two online biodiversity markets. This demonstrates how private investment can play a crucial role in restoring nature.

In March 2024, the BACM hosted its first conference, bringing together a diverse group including landowners, conservation experts, local authorities, and businesses. The aim of the conference was to explore how to make these nature markets work for everyone, ensuring that both nature and community’s benefit.

The BACM team is actively helping landowners develop projects that will enhance wildlife habitats. In addition, training has been provided to support 8 ecology trainees, all of whom have now found jobs in the conservation sector. This means more skilled professionals are working to protect and restore our natural world.

Wiltshire and Swindon Biological Record Centre

The Wiltshire and Swindon Biological Record Centre (WSBRC) collects, manages, and shares vital information about wildlife in Wiltshire and Swindon, supporting conservation efforts and informed decision-making. Last year they supported many local and national monitoring and analysis initiatives, including a National Hedgehog Monitoring Programme.

Working with the People’s Trust for Endangered Species, WSBRC is supporting an innovative pilot project, part of a 3 year National Hedgehog Monitoring Programme. This has attracted a team of enthusiastic volunteers, working across 5 survey areas using 30 camera traps to record hedgehog and other wildlife sightings. The project will aid our understanding of Hedgehog distribution and inform future projects to help reverse the decline of this species. Other species partnership projects focused on learning more about our threatened tree sparrows and lapwings, which will inform projects to help them recover.

The Nurturing Nature project which WSBRC played a key part in, collaborating with Cranbourne Chase National Landscape, won the Wiltshire Life Awards Conservation Project of the Year and was highly commended in the New Forest Nature Awards. The project saw over 100 events and 233 volunteers contributing 6,884 hours of work, the project recorded 215 species and 1,000 species records. The ongoing Ancient Woodland Inventory Update Project has identified over 7,300 wood parcels in Wiltshire, more than six times the previous data of 1,200. This provides extremely valuable information for working with landowners to achieve better woodland management.

WSBRC fulfilled 418 data search requests, providing verified species, habitat, and site data to a variety of clients. Additionally, full county data was provided to four clients, and partial coverage to another four, enabling them to make betterinformed decisions about nature in their work. Excitingly, as a result of its proven leading expertise, WSBRC won consultancy contracts from The North Wessex Downs National Landscape and The Royal Society of Wildlife Trusts.

Adult Wellbeing Team

“I like noticing the little things, the patterns in nature. We need reminding of these things, that it is not our planet, that we are guests here.” Adult Wellbeing Participant.

The Adult Wellbeing team supported 144 participants across five wellbeing groups, contributing over 2570 volunteer hours to supporting our nature reserves.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Swindon Wellbeing and Wild Transitions Groups delivered a range of engaging and inspiring activities including creating wild areas in gardens, creating habitats for insects and feeding local wildlife. Results from our participant survey show that there has been a 71% increase in nature connectedness among participants, reflected in improved well-being, a deeper appreciation for the natural world, and increased proenvironmental behaviour.

Groups are also making changes at home. Participants have adopted sustainable practices, reducing food waste, reducing energy use, and choosing sustainable travel.

Our participants are actively involved in benefitting their community, from advocacy and influencing to promoting sustainable shopping and engaging in habitat conservation activities.

Youth Education and Wellbeing Team

The Youth Education and Wellbeing Team’s (YEW) dedication to environmental education has empowered over 5,000 children to become stewards of their local environment.

Our YEW Team delivered a range of engaging activities including interactive workshops, and hands-on experiences at Blakehill and Coombe Bissett Down which have provided children with a deeper understanding of the natural world. They have been inspired to take action, such as planting trees in their school grounds, contributing to a greener and healthier future. Notably, the Children’s Parliament at Pembroke Park Primary School led a schoolwide assembly on climate change, demonstrating the ripple effect that this type of education can achieve.

The team’s commitment to nurturing well-being extends beyond formal environmental education.

5,000 children became stewards of their local environment.

We continue to provide tailored support for individual young people with complex needs through alternative provision programmes. These programmes, along with our nurture groups, create safe and supportive spaces for young people to experience personal growth and a connection with nature.

Working in partnership with Wessex Archaeology the team delivered Project Rejuvenate - a series of 12 sessions based around connecting nature and heritage. Following the sessions 9 out of 10 students recorded a positive shift in their wellbeing.

Care Farms

The Lakeside and Willows Care Farms worked with 167 students last year, providing not only therapeutic support but also a long lasting connection with nature and the environment. Across the Care Farms, we supported 60% of students to transition fully back in to mainstream or special school education, equipping them with valuable life skills and a heightened appreciation for the environment. Attending the Care Farm on a weekly basis enabled the remaining 40% to maintain their places in school or formed part of home education packages, offering them a unique learning experience grounded in the natural world and sustainable horticulture.

Attending the Care Farm has an impact beyond our provision, with one class teacher stating: “attending the alternative provision has [an] overwhelming positive impact on his wellbeing and learning overall. On return to school, there is a notable improvement in concentration, engagement and attitude to learning.”

Our innovative Day 6 Provision programme, for students who have lost a school placement is run in partnership with Wiltshire Council. This has been a remarkable success. We have enabled a child who was permanently excluded from school to reintegrate into mainstream education with peers of a similar age. Through these interactions and their experiences in nature, students gain not only social skills but also develop a sense of environmental stewardship that will benefit them and the planet for years to come.

‘This is the only place I can be myself!’ Care Farm student.

Thank you to our supporters

We are incredibly grateful to our dedicated community of supporters, comprising of our generous donors, passionate volunteers, and engaged members. Each one plays a crucial role in enabling our conservation work across Wiltshire and Swindon.

Volunteers

Our amazing volunteers are vital to our work. In 2023-24, we had 704 new volunteers join our cause, a testament to the enthusiasm for protecting Wiltshire’s wildlife. Their remarkable contribution of 11,785 hours is equivalent to 7 full time staff and this allowed us to achieve so much more. Our volunteers are the leaders of our Wildlife Watch Groups, igniting a passion

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

for nature in the next generation of conservationists. They are the dedicated stewards of our reserves, ensuring habitats flourish. And they are the champions of Wiltshire’s green spaces, safeguarding their beauty for all to enjoy.

Our Members

We are thankful for our members for their support and dedication to our cause. Feedback is invaluable to us, which is why we recently conducted a member survey to better understand our member’s experiences and priorities. The survey showed that a remarkable 92% of respondents rated their membership experience as excellent or good, with many specifically mentioning the invaluable role of our nature reserves with Langford Lakes and Lower Moor Farm getting a special mention.

Members join us not only to support local conservation, but also to spend time in nature with friends and family while experiencing Wiltshire’s rich wildlife. Their passion fuels our dedication to making a lasting difference for both nature and the people of Wiltshire.

Fundraising and Engagement

Our Fundraising and Engagement team play a vital role in connecting the work of the trust with our stakeholders and inspire them to take action by supporting events, volunteering, or donating to our cause.

Online Engagement

Our social media efforts have ignited a strong connection with our community. We’ve seen a surge in engagement across our channels, with several posts generating a lot of reactions and comments. This enthusiastic response has not only expanded our reach but also fuelled a healthy growth in followers.

Our top posts included:

• The opening of Bay Meadows in November 2023.

• A picture of an adder at Jones’ Mill in June 2023.

Linkedin followers increased 91% YouTube subscribers increased 15% Instagram followers increased 11% Facebook followers increased 5%

Expanding Engagement

Our Wildlife Watch groups grew to 8 groups in 2023-24 from 3 in 2022-23 and they continue to go from strength to strength, including new groups in the north and the south of the county giving a really a good geographical spread.

In 2023, we took a big step forward by launching the first digital edition of our magazine. This initiative has been well received, providing a more sustainable way for our members and supporters to stay connected with our work.

Fundraising

Our Saving Critical Critters appeal made a real difference for Wiltshire’s wildlife. Thanks to the generous donations from our supporters, we were able to raise enough funds to create special habitats for wild bees and oil beetles, helping these important species thrive in our county.

We are pleased to have garnered support from a range of Trusts and Foundations whose funding has enabled us to achieve so much including enhancing natural spaces and inspiring and training young conservationists.

Our Corporate Membership programme now includes 20 companies, reflecting a growing commitment from the business community to safeguard our environment.

Media Coverage

Media coverage of the Trust’s campaigns and projects skyrocketed by an impressive 61% compared to the previous year. This surge included a remarkable 48 radio and television appearances, notably the BBC Countryfile episode in March 2024, which shone a spotlight on our work to create our newest Bay Meadows and Great Wood nature reserves. This amplified media presence has allowed the Trust’s positive impact on nature’s recovery to reach a wider audience, inspiring more people in Wiltshire and Swindon to engage with nature, adopt sustainable practices, and actively support the Trust’s work.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Carbon Footprint

To help limit climate change and support actions to adapt to it, WWT has committed to balance its carbon emissions. The Trust aims to reduce emissions from its operations as far as possible while increasing carbon captured and stored through land management of our nature reserves.

Using calculation tools developed by The Wildlife Trusts, WWT completes a detailed, annual carbon footprint to measure and take responsibility for its impact. Gathering the carbon emissions data helps focus and inform our actions to reduce emissions, alongside consideration of other factors for WWT to meets its objectives as a conservation charity.

During 2022-23 travel and transport formed 89% of our emissions – the higher figure is partly due to improved staff commute data and also reflects the size of Wiltshire as a county and the spread of our nature reserves.

Energy consumption is a large contributor to our carbon footprint, and monitoring electricity use across our sites is crucial for identifying opportunities to reduce emissions. Actions that followed include re-organising our main office space in Devizes to help save over 15,000 kWh electricity. Our energy use data also supported a renewable energy audit to explore opportunities to install additional schemes across our sites.

The Wildlife Trusts have led on research and development of a tool to calculate emissions from livestock used for conservation grazing (an essential tool for managing our northern reserves) which gives WWT an emissions total for 202223 of 759 tonnes of carbon dioxide equivalent (t CO2e) using a widely accepted method.

Adding Great Wood to our nature reserves in 2023 resulted in a higher figure for carbon removed during that year but it’s difficult to quantify carbon captured and emitted annually by a variety of habitats with massive variation so we’ve used conservative estimates.

While the calculations are sometimes an imperfect measure and can improve over the years, they do provide a baseline to help us reduce our carbon. We’re grateful for the support from our fantastic volunteers to help collate the details for the calculation.

FINANCIAL REVIEW

For the year ended 31[st] March 2024 the Trust is reporting a surplus of £1,115,928. Donations and legacies have increased by £703,704 when compared to 2023 with the acquisition of Bishopstone Meadows, the gift of Dixon Meadows and a number of legacy notifications received during the year. Charitable activity income is line in with 2023 income with a range of income sources secured to deliver activity to support natures recovery and deliver environmental education. Other trading activities has decreased however this has been offset by an increase in other income and strong performance from our investments resulting in £124,442 of income for the year.

Wiltshire Wildlife Trust continue to be thankful for the ongoing financial support from our funders and members who enable us to maintain and enhance our nature reserves for wildlife and make them accessible to people. In addition, funding from local authorities, environmental agencies, grants and the landfill tax contributions from The Hills Group and Crapper and Sons allow the Trust to deliver more across Wiltshire and increase accessibility to our offering. Our talented, hardworking staff and volunteers make all of this possible and are key to delivery of our Strategy.

Expenditure has increased in the year by £744,587 when compared to 2023. The scale of Charitable Activities has increased in 2024 with growth in activity in the Youth Education and Wellbeing and Care Farms. The Water Team and WSBRC have also increased in scale of projects being delivered and staff recruited and the work undertaken in the final year of the Bristol Avon Catchment Market leaves a legacy for the environmental credits market.

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WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The accounts show a loss on investments of £32,989 at the end of the financial year, which reflects the decrease in value of the investments at this point in time.

During the year £824,519 was expended on capital, of which £660,000 was associated with acquiring Bishopstone and Dixon Meadows. 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 2024 remains strong with assets of £18.6 million. This consists of £15.5 million fixed assets including £355k of investments. The bank balance of £1.6 million is easily accessible therefore liquid assets are available to meet liabilities.

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 is positive at 31[st] March 2024. There is adequate cash to meet known liabilities, and the Leadership Team continue to improve efficiency and source additional funding. However additional resource is required to deliver the 2030 Strategy therefore opportunities will be explored to secure additional funding for projects and drive efficiency further with investment in new systems and processes.

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 2024 the Trust had £24,071 invested in the Charities Official Investment Fund (COIF), a short-term and immediately available money fund (2023: £22,767) and £3 in a savings account with Barclays Wealth (2023: £3). A further £1,098,139 (2023: £1,741,704) was held in easy access deposit accounts with Barclays to provide immediate regular needs with £500,004 held in Natwest.

At the end of the year the Trust retained 19,500 Charifund units which had a market value of £283,940 (2023: £289,223). Charifund is an independent fund managed by M & G Securities Limited. The Trust also held £70,637 of shares (2023: £69,099).

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 £18,608,703 of which £12,695,150 were restricted, £4,332,556 designated and £1,580,997 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 £1,580,266 is held as unspent income Restricted Funds.

The total “free” reserves at the year-end date is £517,595. 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:

• a) Excluding those funds represented by fixed assets or funds designated for the purchase and maintenance of fixed assets, general reserves should not exceed more than 9 months’ budgeted expenditure which is £1,876,316;

• b) There are adequate funds or future sources of funding to ensure that the charity is able to meet all current and known future liabilities. The aim is to maintain the level of such general reserves at a minimum of three months’ budgeted expenditure, which is £625,439. This does not include restricted and designated budgeted expenditure.

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

Page 12

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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.

Challenges and plans for the future

The Trust has embarked on a new Strategy which takes us to 2030 and our goal is to ensure that every area of work can demonstrate an impact/improved effectiveness in some way, so that we can show our funders, members and the public what we’ve achieved, learn as we go along, and share best practice.

We will work with other Wildlife Trusts to measure and evaluate any shifts in indicators of societal change and the extent to which these might be attributed to the work of the Wildlife Trusts. Further work is required in defining what will be measured and what investment will be needed to collect and analyse the information. The alignment of individual Trust strategies to the collective strategy for The Wildlife Trusts should make the collection and analysis of data easier.

We will contribute to the work being carried out nationally by The Wildlife Trusts and continue to work with other Wildlife Trusts to explore new ways to work and collectively produce metrics and KPI’s for carbon collection and climate change.

Our strategy 2030 provides a high-level framework. It will be supported by detailed Business Plans which will set out detailed targets for the Trust and will inform, and be informed by, individual work programmes for Teams. Multiyear financial forecasting will also be a priority to take into consideration changes in government spending including agricultural subsides, changes to national living wage and staff costs, changes in disposable income and increase in competition for grants and the allocation of resources for strategic investment. Whilst the costs associated with ash dieback continue to affect the Trust, a full audit has been undertaken to ascertain the extent to which our reserves have been affected by this disease and how the Trust can address it.

Wiltshire Wildlife Trust has continued to grow in recent years in income and membership. We have been able to invest in further land and property acquisition and infrastructure and develop and expand our programmes of work. These achievements and activity has ensured that the Trust is well placed both financially and strategically to face future challenges.

We are facing the inextricably linked ecological and climate emergencies and need to see an increase in the scale and pace of action. At the same time, it is clear that nature has never been so important for people; many visitors stumbled across our Reserves during lockdown and discovered the therapeutic benefits that nature can provide. The Trust enables people to value nature for personal wellbeing especially through the Care Farms, Adult Wellbeing, and Youth Education Teams. The Nature Centres also provide access to nature for those with health conditions or impairments.

The diverse and abundant wildlife found on our nature reserves helps tackle the shifting baseline syndrome, reminding people of the rich natural world we should expect to see everywhere. Our reserves play an important role as biodiversity hotspots contributing to Wiltshire’s nature recovery strategy and network.

Page 13

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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:

• Agreeing the future direction of the Trust and its activities, setting objectives and strategic guidelines;

• Agreeing policies on major issues affecting the Trust;

• Ensuring that the activities of the Trust and its liabilities are consistent with its financial resources, both in the short term and the long term, as well as being compliant with the law and all relevant ethical constraints;

• Monitoring the performance of the Trust and all its activities;

• Ensuring that the policies, objectives, strategies, values and standards of the Trust are consistent with best practice and those of the Wildlife Trust movement;

• Maintaining a balanced and appropriately qualified team of Trustees.

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

• Executive leadership of the Trust;

• Management of its staff and suitable arrangements for delegation and control;

• Delivery of the work programmes and financial performance;

• Development and maintenance of business systems and procedures;

• External relationships, with the support of the Trustees;

• Development of corporate strategy and long term plans.

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.

Page 14

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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.

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 2023-24.

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.

Page 15

WILTSHIRE WILDLIFE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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:

• Select suitable accounting policies and ensure they are applied consistently;

• Observe the methods and principles in the Charities SORP 2019 (FRS 102);

• Make judgements and estimates that are reasonable and prudent;

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust and the group will continue in operation.

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

Mr M Street Mr M Jolley Chair Treasurer

Date: 12[th] September 2024

Page 16

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2024

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 2024 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:

• give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 March 2024, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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:

• the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

• the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group’s or parent charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

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 17

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2024

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Report of the Trustees (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the 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:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement set out on pages 16 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 18

WILTSHIRE WILDLIFE TRUST LIMITED INDEPENDENT AUDITORS REPORT TO MEMBERS OF WILTSHIRE WILDLIFE TRUST LIMITED FOR THE YEAR ENDED 31 MARCH 2024

• Enquiry of management and those charged with governance about any known or suspected instances of noncompliance with laws and regulations and fraud;

• Understanding of management's internal controls designed to prevent and detect irregularities and fraud;

• Reviewing minutes of meetings of those charged with governance;

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

• Performing analytical procedures to identify any unusual or unexpected relationship that might indicate a risk of material misstatement due to fraud;

• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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: 23 December 2024

Page 19

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

	Note	Unrestricted	Restricted	2024	2023
		£	£	£	£
Income from:
Donations and legacies	2	1,211,673	333,287	1,544,960	841,256
Charitable activities	3	2,397,765	3,193,316	5,591,081	5,956,842
Other trading activities	4	154,769	-	154,769	197,365
Investments	5	124,344	98	124,442	97,533
Other		48,977	4,622	53,599	27,721
Total income		3,937,528	3,531,323	7,468,851	7,120,717
Expenditure on:
Raising funds
Recruiting new members		134,274	-	134,274	151,514
Fundraising, donations and legacies		159,380	-	159,380	113,541
Charitable activities
Nature is in Recovery		1,608,588	2,070,429	3,679,017	2,589,453
People are taking action		1,915,596	144,196	2,059,792	2,177,866
Nature is valued		59,018	-	59,018	298,296
Member support		228,453	-	228,453	244,677
Total expenditure	6	4,105,309	2,214,625	6,319,934	5,575,347
Net gains / (loss) on investments		(32,989)	-	(32,989)	152,045
Net income		(200,770)	1,316,698	1,115,928	1,697,415
Transfers between funds	24	180,395	(180,395)	-	-
Net movement in funds		(20,375)	1,136,303	1,115,928	1,697,415
Reconciliation of funds:
Total funds brought forward:		5,933,928	11,558,847	17,492,775	15,795,360
Total funds carried forward		5,913,553	12,695,150	18,608,703	17,492,775

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 23 to 46 form part of these accounts

Page 20

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED AND CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

Note Fixed Assets Tangible assets 12 Heritage assets 13 Investments 14 Mixed motive investments 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 2024 2023 £ £ 2,445,033 2,517,121 9,733,253 9,073,253 354,577 358,322 2,933,641 2,876,580 15,466,504 14,825,276 227,830 199,420 1,841,647 1,047,244 1,622,217 1,764,471 3,691,694 3,011,135 (549,495) (303,107) 3,142,199 2,708,028 18,608,703 17,533,304 - (40 529) 18,608,703 17,492,775 11,114,884 10,496,081 1,580,266 1,062,766 1,580,997 1,543,585 2,847,336 2,876,580 1,485,220 1,513,763 18,608,703 17,492,775	Charity 2024 2023 £ £ 2,445,033 2,517,121 9,733,253 9,073,253 364,577 368,322 2,933,641 2,876,580 15,476,504 14,835,276 227,830 199,420 1,841,647 1,047,270 1,602,709 1,744,222 3,672,186 2,990,912 (549,492) (302,947) 3,122,694 2,687,965 18,599,198 17,523,241 - (40 529) 18,599,198 17,482,712 11,114,884 10,496,081 1,580,266 1,062,766 1,571,493 1,533,522 2,847,336 2,876,580 1,485,220 1,513,763 18,599,199 17,482,712	Charity 2024 2023 £ £ 2,445,033 2,517,121 9,733,253 9,073,253 364,577 368,322 2,933,641 2,876,580 15,476,504 14,835,276 227,830 199,420 1,841,647 1,047,270 1,602,709 1,744,222 3,672,186 2,990,912 (549,492) (302,947) 3,122,694 2,687,965 18,599,198 17,523,241 - (40 529) 18,599,198 17,482,712 11,114,884 10,496,081 1,580,266 1,062,766 1,571,493 1,533,522 2,847,336 2,876,580 1,485,220 1,513,763 18,599,199 17,482,712
			14,835,276
			199,420 1,047,270 1,744,222
			2,990,912
			(302,947)
			2,687,965
			17,523,241 (40 529)
			17,482,712
			10,496,081 1,062,766 1,533,522 2,876,580 1,513,763
			17,482,712

The notes on pages 23 to 46 form part of these accounts.

The financial statements were approved and authorised for issue by the Trustees on 12[th] September 2024. Signed on behalf of the board of Trustees:

………………………………… ……………………………………… Mr M Street Mr M Jolley

The notes on pages 23 to 46 form part of these accounts Company number: 00730536

Page 21

WILTSHIRE WILDLIFE TRUST LIMITED CONSOLIDATED AND CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

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 Payments to acquire investments 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 2023 Cash and cash equivalents at 31 MARCH 2024 Cash and cash equivalents consist of: Cash at bank and in hand Cash and cash equivalents at 31 MARCH 2024	Group 2024 2023 £ £ 610,354 1,799,763 (1,962) (1,831) 608,392 1,797,932 (738,214) (1,816,208) (86,305) - - 8,109 - - 41,699 22,737 82,743 74,796 (700,077) (1,710,566) (50,569) (11,064) - - (50,569) (11,064) (142,254) 76,302 1,764,471 1,688,169 1,622,217 1,764,471 1,622,217 1,764,471 1,622,217 1,764,471	Charity 2024 2023 £ £ 611,331 1,800,594 (1,962) (1,831) 609,369 1,798,763 (738,214) (1,816,208) (86,305) - 8,109 - - 41,463 22,693 82,743 74,796 (700,313) (1,710,610) (50,569) (11,064) - - (50,569) (11,064) (141,513) 77,089 1,744,222 1,667,133 1,602,709 1,744,222 1,602,709 1,744,222 1,602,709 1,744,222	Charity 2024 2023 £ £ 611,331 1,800,594 (1,962) (1,831) 609,369 1,798,763 (738,214) (1,816,208) (86,305) - 8,109 - - 41,463 22,693 82,743 74,796 (700,313) (1,710,610) (50,569) (11,064) - - (50,569) (11,064) (141,513) 77,089 1,744,222 1,667,133 1,602,709 1,744,222 1,602,709 1,744,222 1,602,709 1,744,222
			1,798,763 (1,816,208) 8,109 - 22,693 74,796
			(1,710,610) (11,064) -
			(11,064) 77,089 1,667,133
			1,744,222
			1,744,222
			1,744,222

Page 22

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 23

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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:

• Costs of raising funds comprise the costs associated with attracting donations and legacies and income from trading activities and recruiting new members.

• Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.

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.

		2024	2023
•	Raising funds	2%	3%
•	Creating living landscapes across Wiltshire		47%
•	Lead and support the transition of society towards more sustainable living		41%
•	Ensure our work is based on sound knowledge and evidence		6%
•	Member support	3%	3%
•	Nature is in recovery	61%
•	People are Taking Action	33%
•	Nature is Valued	1%
•	Recruiting new members	1%

The analysis of these costs is included in note 7.

Page 24

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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. The Charity has also invested in the Rights to Biodiversity Units in a collaborative scheme with the Avon Wildlife Trust and Entrade. The funds invested will potentially create a financial return to the Charity that can be used to generate further Biodiversity Units, which have a commercial value, as well as providing a direct environmental impact. Mixed motive investments are initially valued at cost but the subsequently re-valued to 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 25

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 Income from charitable activities Grants Landfill tax Charitable Trust (project specific) Other Total	2024 £ 648,808 425,696 143,823 326,633 1,544,960 2024 £ 2,327,478 755,958 636,089 1,871,556 5,591,081	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

3) Income from charitable activities

Page 26

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 Cranborn Chase AONB Public Health 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 Nicholson South West Animal & Plant Health Agency 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 Tree Council National Highways North Wessex Downs AONB Quartet Community Foundation Armed Forces Covenant Fund Landmarc Support Services Ltd National Trust Persimmon Wain Homes (Severn Valley) Other grants	Unrestricted £ - - - - - - - - - - - 257,453 - - - - - 17,568 - - - - - - - - - - 5,000 - - 2,339 282,360	Restricted £ 70,480 394,991 191,654 19,185 50,860 31,999 41,878 70,250 456,969 92,252 - - - - - - 23,115 - - 37,234 - - - 307,242 30,421 20,000 40,745 118,016 - 30,000 6,000 11,827 2,045,118	2024 £ 70,480 394,991 191,654 19,185 50,860 31,999 41,878 70,250 456,969 92,252 - 257,453 - - - - 23,115 17,568 - 37,234 - - - 307,242 30,421 20,000 40,745 118,016 5,000 30,000 6,000 14,166 2,327,478	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

Page 27

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4) Income from other trading activities

Fundraising Events Retail Total Income from investments Rental income Income from UK investments Bank and building society interest Other interest Total		2024 £ 151,362 3,407 154,769 2024 £ 82,743 22,627 18,940 132 124,442		2023 £ 192,048 5,317
				197,365
				2023 £ 74,796 22,444 190 103 97,533

5) Income from investments

6) Expenditure

Expenditure on: Raising funds Recruiting new members Fundraising, donations and legacies Total Charitable activities Nature is in recovery People are Taking Action Nature is Valued Support of members Total Total expenditure	Activities undertaken directly £ 130,025 146,634 276,659 3,162,730 1,778,310 50,936 201,552	Support costs (note 7) £ 4,249 12,746 16,995 516,287 281,482 8,082 26,901	2024 £ 134,274 159,380 293,654 3,679,017 2,059,792 59,018 228,453 6,026,280 6,319,934	2023 £ 151,514 113,541
				265,055 2,589,453 2,177,866 298,296 244,677
	5,193,528 5,470,187	832,752 849,747		5,310,292
				5,575,347

Page 28

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7) Analysis of support costs

		Charitable	Activities		Raising funds	Raising funds
						Fundraising,
		People are			Recruiting	donations
	Nature is in	Taking	Nature is	Member	new	and
	recovery	Action	Valued	Support	members	legacies	Total
	£	£	£		£	£	£
Year ended 31 March	2024
Management	83,355	45,445	1,305	4,343	686	2,058	137,192
Finance	76,178	41,532	1,192	3,969	627	1,881	125,379
Information Technology	76,929	41,943	1,204	4,008	633	1,899	126,616
Human Resources	23,400	12,758	366	1,219	193	578	38,514
Corporate	206,008	112,317	3,225	10,734	1,695	5,086	339,065
Volunteering	10,389	5,664	164	542	85	256	17,100
Governance	12,152	6,625	190	634	100	300	20,001
Contribution towards RSWT and SWWT	27,876	15,198	436	1,452	230	688	45,880
Total	516,287	281,482	8,082	26,901	4,249	12,746	849,747
Year ended 31 March	2023
Management	61,366	51,612	7,069	4,310	634	1,903	126,894
Finance	73,050	61,439	8,415	5,131	755	2,266	151,056
Information Technology	50,472	42,449	5,814	3,545	522	1,565	104,367
Human Resources	12,170	10,236	1,402	855	127	377	25,167
Corporate	111,116	93,454	12,800	7,804	1,149	3,447	229,770
Volunteering	7,767	6,532	895	545	80	241	16,060
Governance	4,467	3,757	515	314	46	139	9,238
Contribution towards RSWT and SWWT	19,948	16,778	2,298	1,401	206	619	41,250
Total	340,356	286,257	39,208	23,905	3,519	10,557	703,802

Page 29

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8) Net income for the year

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

	2024	2023
	£	£
Depreciation of tangible fixed assets	147,685	149,027
(Profit) / loss on disposal of tangible fixed assets	1,699	(6,997)
Operating lease rentals	20,980	17,500
Auditor’s remuneration for audit services	25,000	18,000
Auditors’ remuneration for accountancy and other services	3,981	5,700

9) Trustees’ and key management personnel remuneration and expenses

The Trustees neither received nor waived any remuneration during the year (2023: £Nil).

The total amount of employee benefits received by key management personnel is £354,661 (2023: £314,291). 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 (2023: £Nil) were reimbursed to Trustees and no expenses (2023: £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	2024 £ 2,578,722 208,144 182,199 49,814 37,691 3,056,570 - 3,056,570	2023 £ 2,468,451 201,256 191,326 50,737 35,371
		2,947,141
		-
		2,947,141

Redundancy of £21,055 was paid in the year 2024 (2023: £923) were made during the year.

During the year one employee received total employee benefits (excluding employer pension costs) of between £70,000 to £80,000 (2023: one employee £80,000 to £90,000).

Page 30

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024 2023 143 150 - - 143 150	Charity 2024 2023 143 150 - - 143 150

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

Trust officers and support staff Consultancy activities Total	Group 2024 2023 90 95 - - 90 95	Charity 2024 2023 90 95 - - 90 95

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

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 £ 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) 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 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
			17,492,775

Page 31

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12) Tangible assets Group and charity

	Freehold Buildings	Vehicles & Equipment	Furniture & Fittings	Total
	£	£	£	£
Cost
At 1 April 2023	2,979,160	654,567	278,943	3,912,670
Additions	22,165	51,778	4,271	78,214
Disposals	-	(49,496)	(111,867)	(161,633)
At 31 March 2024	3,001,325	656,849	171,347	3,829,521
Depreciation
At 1 April 2023	705,123	514,329	176,097	1,395,549
Charge for the year	79,704	47,333	20,648	147,685
Eliminated on disposals	-	(48,372)	(110,374)	(158,746)
At 31 March 2024	784,827	513,290	86,371	1,384,488
Net book value
At 31 March 2024	2,216,498	143,559	84,976	2,445,033
At 31 March 2023	2,274,037	140,238	102,846	2,517,121

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	2024	2023	2022	2021	2020
	£	£	£	£	£
Cost brought forward	9,073,253	7,373,253	7,224,473	6,247,798	6,247,798
Purchased additions in year	660,000	1,700,000	202,100	380,000	-
Donated additions in year	-	-		596,675	-
Disposals in year	-	-	(53,320)	-	-
Cost carried forward	9,733,253	9,073,253	7,373,253	7,224,473	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 32

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14) Investments

Mixed motive investments - properties £ Charity Cost or valuation At 1 April 2023 2,876,580 Additions - Disposals - Gains / (losses) on revaluation (29,244) At 31 March 2024 2,847,336 Carrying amount At 31 March 2024 2,847,336 At 31 March 2023 2,876,580 Group Cost or valuation At 1 April 2023 2,876,580 Additions Disposals Gains / (losses) on revaluation (29,244) At 31 March 2024 2,847,336 Carrying amount At 31 March 2024 2,847,336 At 31 March 2023 2,876,580 Investments at fair value comprise: Mixed motive investments - properties Mixed motive investments – rights to biodiversity units Listed investments – Equities Other investments		Mixed motive investments – rights to biodiversity units £ - 86,305 - - 86,305 86,305 - 86,305 - - 86,305 86,305 - Group 2024 £ 2,847,336 86,305 354,577 - 3,288,218	Mixed motive investments – rights to biodiversity units £ - 86,305 - - 86,305 86,305 - 86,305 - - 86,305 86,305 - Group 2024 £ 2,847,336 86,305 354,577 - 3,288,218	Listed investments £ 358,322 - - (3,745)		Other invest- ments £ 10,000 - - - 10,000 10,000 10,000 - - - - - - - Charity 2024 £ 2,847,336 86,305 354,577 10,000 3,298,218	Other invest- ments £ 10,000 - - - 10,000 10,000 10,000 - - - - - - - Charity 2024 £ 2,847,336 86,305 354,577 10,000 3,298,218	Total £ 3,244,902 86,305 - (32,989)
				354,577				3,298,218
				354,577				3,298,218
				358,322				3,244,902
				358,322 - - (3,745)				3,234,902 86,305 - (32,989)
				354,577				3,288,218
				354,577				3,288,218
				358,322				3,234,902
				2023 £ 2,876,580 - 358,322 - 3,234,902				2023 £ 2,876,580 - 358,322 10,000 3,244,902

Page 33

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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	2024 £ 1,547,216 (598,362) 948,854	2023 £ 1,547,216 (567,418)
		979,798

Mixed motive investments – Rights to Biodiversity Units

In Collaboration with Avon Wildlife Trust and Entrade, the Charity has acquired and ‘banked’ the Rights to Biodiversity Units from Projects from Round 2 of the Bristol Avon Catchment Market, for sale to developers once the Biodiversity net gain obligation commences. Funds invested will be spent on the development and operation of the Catchment Market, or on nature-based solutions projects generating environmental credits in Avon and Wiltshire if the market were to end.

The Rights to Biodiversity Units were purchased close to the financial year end and the cost and fair value are deemed to be materially the same. The Charity will make fair value adjustments in subsequent periods when there is further information to on the fair value of the assets.

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 £19,505 (2023: £20,063). Further details concerning the activities and assets of this company are given in note 28.

15) Stock

	Group		Charity
	2024	2023	2024	2023
	£	£	£	£
Livestock and hay	227,830	199,420	227,830	199,420

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16) Debtors

Trade debtors Grant debtors Gift aid debtor Other debtors Prepayments and accrued income VAT debtor Amounts owed by group undertakings	Group 2024 2023 £ £ 835,643 514,758 512,685 372,134 143,400 35,693 6,004 - 343,915 124,659 - - - - 1,841,647 1,047,244	Charity 2024 2023 £ £ 835,643 514,758 512,685 372,134 143,400 35,693 6,004 - 343,915 124,659 - - - 26 1,841,647 1,047,270	Charity 2024 2023 £ £ 835,643 514,758 512,685 372,134 143,400 35,693 6,004 - 343,915 124,659 - - - 26 1,841,647 1,047,270
			1,047,270

Included within prepayments and accrued income is £7,621 (2023: £7,621) 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 2024 2023 £ £ - 10,040 263,822 87,954 29,944 30,492 107,715 64,879 142,861 106,537 5,153 3,205 549,495 303,107	Charity 2024 2023 £ £ - 10,040 263,822 87,954 29,944 30,492 107,715 65,419 142,858 105,837 5,153 3,205 549,492 302,947	Charity 2024 2023 £ £ - 10,040 263,822 87,954 29,944 30,492 107,715 65,419 142,858 105,837 5,153 3,205 549,492 302,947
			302,947

Included within creditors above are pension creditors of £17,302 (2023: £19,935). The concessionary loan was repayable on demand, was interest free, and was repaid within the year.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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

Group 2024 2023 £ £ Mortgage - 40,529 19) Deferred income Charity and group Donations, legacies and grants Other trading activities £ £ Balance deferred at 1 April 2023 3,205 - Amount released to income (602) - Amount deferred in the year - 2,550 Balance deferred at 31 March 2024 2,603 2,550 20) Secured creditors Group 2024 2023 £ £ Mortgages repayable by instalments: Within one year - 10,040 Within one – two years - 10,580 Within two – five years - 29,949 In more than five years - - Total - 50,569 The mortgage was repaid in full during the year. 21) Commitments under operating leases Total future minimum lease payments under non-cancellable operating leases Group and charity Not later than one year Later than one year and not later than five years	Charity 2024 2023 £ £ - 40,529 2024 2023 £ £ 3,205 29,734 (602) (27,131) 2,550 602 5,153 3,205 Charity 2024 2023 £ £ - 10,040 - 10,580 - 29,949 - - - 50,569 are as follows: 2024 2023 £ £ 17,452 1,980 79,342 3,960 96,794 5,940	Charity 2024 2023 £ £ - 40,529 2024 2023 £ £ 3,205 29,734 (602) (27,131) 2,550 602 5,153 3,205 Charity 2024 2023 £ £ - 10,040 - 10,580 - 29,949 - - - 50,569 are as follows: 2024 2023 £ £ 17,452 1,980 79,342 3,960 96,794 5,940
		50,569
		2023 £ 1,980 3,960
		5,940

Page 36

WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

22) Restricted funds

Year ended 31 March 2024

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 Meadows Farm Semley Woodlands Nature Recovery Network UASC The Willows Care Farm Great Wood Action for Insects Bristol Avon Catchment Market Bay Meadows Bishopstone	Balance 1.4.23 Capital £ 9,073,253 1,422,828 10,496,081 - - - - - - - - - - - - - - - - - 10,496,081	Balance 1.4.23 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	Net movement in funds £ 660,000 (41,197) 618,803 254,678 (338) 68,558 29,308 (16,363) 33,478 (8,577) (18,453) 35,000 (6,721) 10,737 (3,226) (41,752) 55,722 63,943 61,506 517,500 1,136,303	Balance 31.3.24 Capital £ 9,733,253 1,381,631 11,114,884 - - - - - - - - - - - - - - - - - - 11,114,884	Balance 31.3.24 Income £ - -
					-
					937,566 15,000 129,938 211,046 16,195 44,719 10,000 10,000 35,000 - 17,991 5,000 - 86,305 - 61,506
					1,580,266
					1,580,266

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

22) Restricted funds (continued)

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 £ 7,373,253 1,459,418 8,832,671 - - - - - - - - - - - - - - - - - 8,832,671	Balance 1.4.22 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	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

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.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

The Swindon Wellbeing Programme: Funded by the National Lottery Community Fund to support mental and emotional wellbeing through nature based 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: this was a collaborative project funded by the Green Recovery Challenge Fund to kickstart a Market for nature-based solutions which finished in March 2024.

As described in note 14, the Charity has invested funds to acquired and ‘banked’ the Rights to Biodiversity Units from Projects from Round 2 of the Bristol Avon Catchment Market, for sale to developers once the Biodiversity net gain obligation commences. These funds are held as part of the restricted fund as mixed motive investments.

.

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.

Bishopstone: the remaining funds to undertake the capital works for conservation grazing on site at Bishopstone.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23) Unrestricted funds

Year ended 31 March 2024

Designated nature recovery funds Nature recovery Investment properties (including revaluation reserve) Designated funds Lower Moor Farm Climate Change Swindon Allotment Landscape Ecology Bay Meadows Jones Mill Youth Education & Wellbeing Care farms Unrestricted funds General fund Funds of charity Funds of subsidiary company Funds of group	Balance 1.4.23 Capital £ - 2,876,580 2,876,580 - - - - - - - - - 1,094,295 3,970,875 - 3,970,875	Balance 1.4.23 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	Net movement in funds £ (17,304) (29,244) (46,548) 38,902 (16,792) (1,017) (19,568) (57,738) - (10,026) 55,000 (11,239) 37,970 (19,817) (558) (20,375)	Balance 31.3.24 Capital £ - 2,847,336 2,847,336 - - - - - - - - - 1,063,405 3,910,741 - 3,910,741	Balance 31.3.24 Income £ 1,039,511 -
					1,039,511
					184,042 27,680 5,786 75,701 - 57,500 40,000 55,000
					445,709
					508,087
					1,993,307
					9,505
					2,002,812

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23) Unrestricted funds (continued)

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 £ 2,698,991 2,698,991 - - - - - - - - - 1,091,635 3,790,626 - 3,790,626	Balance 1.4.22 Income £ 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

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

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

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

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.

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.

Care Farm: balance of monies held to undertake infrastructure improvements for outdoor education activities.

Included within the investment properties fund are net unrealised gains of £1,845,252.

24) Transfer between funds

Transfers totalling £180,395 from unrestricted funds to restricted funds were made to reflect movements to investment properties and restricted fixed assets.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

25) Group analysis of net assets between funds

As at 31 March 2024

As at 31 March 2023 Tangible fixed assets Heritage assets Investment property Other investments Stock and work in progress Debtors Cash Current liabilities Creditors more than one year Tangible fixed assets Heritage assets Mixed motive investments Other investments Stock and work in progress Debtors Cash Current liabilities Creditors more than one year		Designated £ - - 2,876,580 358,322 - 233,826 921,615 - Designated £ - - 2,847,336 354,577 - 320,991 845,644 (35,992) - 4,332,556	General Fund £ 1,094,293 - - - 199,420 304,816 111,812 (166,756) - 1,543,585 General Fund £ 1,063,402 - - - 227,830 584,350 13,617 (308,202) - 1,580,997	Nature Reserve Capital Fund £ 1,422,828 9,073,253 - - - - - - - 10,496,081 Nature Reserve Capital Fund £ 1,381,631 9,733,253 - - - - - - - 11,114,884	Other Restricted Funds £ - - - - - 508,602 731,044 (136,351) (40,529) 1,062,766 Other Restricted Funds £ - - 86,305 - - 936,306 762,956 (205,301) - 1,580,266		Total Funds £ 2,445,033 9,733,253 2,933,641 354,577 227,830 1,841,647 1,622,217 (549,495) -
							18,608,703
							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
		4,390,343

26) Contingent liabilities

At the balance sheet date, the Trust Council were not aware of any material contingent liabilities (2023: £nil).

27) Contingent assets

At the balance sheet date, the Trust Council were not aware of any material contingent assets. The charity has an outstanding balance of £305,473 (2023:£97,771) in outstanding legacies.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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	2024 £ - - - (794) (794) 236 - (558) - (558) 19,508 (3) 19,505 19,505	2023 £ - -
		- (806)
		(806) 44 -
		(762) -
		(762)
		20,789 (726)
		20,063
		20,063

29) Financial results of the charity

The gross income for the year of the charity alone is £7,468,615 (2023: £7,120,673) and the surplus for the year of the charity alone is £1,116,487 (2023: £1,698,177).

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 2024 2023 £ £ 1,115,928 1,697,415 (82,743) (74,796) (41,699) (22,737) 1,962 1,831 147,685 149,027 - (6,997) 32,989 (152,045) (28,410) (4,695) (794,403) 157,314 259,045 55,446 610,354 1,799,763	Charity 2024 2023 £ £ 1,116,487 1,698,177 (82,743) (74,796) (41,463) (22,693) 1,962 1,831 147,685 149,027 - (6,997) 32,989 (152,045) (28,410) (4,695) (794,377) 156,899 259,201 55,886 611,331 1,800,594	Charity 2024 2023 £ £ 1,116,487 1,698,177 (82,743) (74,796) (41,463) (22,693) 1,962 1,831 147,685 149,027 - (6,997) 32,989 (152,045) (28,410) (4,695) (794,377) 156,899 259,201 55,886 611,331 1,800,594
			1,800,594

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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	2023 £ (10,040) (40,529) (50,569) 1,764,471 1,713,902 2023 £ (10,040) (40,529) (50,569) 1,744,222 1,693,653	Cash flows £ 10,040 40,529 50,569 (142,254) (91,685) Cash flows £ 10,040 40,529 50,569 (141,513) (90,944)	2024 £ - -
			- 1,622,217
			1,622,217
			2024 £ - -
			- 1,602,709
			1,602,709

32) Financial commitments

Contractual commitments for the acquisition of tangible fixed assets contracted for but not provided in the financial statements amounted to £nil (2023: £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.

South West Wildlife Trusts Limited (SWWT) was wound up during 2022. A refund of £7,600 was received in 2023.

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. During the year payments totalling £123,437 (2023: £143,211) 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, Damian Haasjes, Head of Business Development and Community Engagement is a representative on the Community Group with Jessica Thimbleby, Carbon Reduction Champion administering the fund.

Income of £24,641 (2023: £19,100) 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 and rents the area for the Chelworth Community Solar.

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WILTSHIRE WILDLIFE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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)	2024 £ 354,577 835,643 - 263,822 263,822 2024 £ 354,577 835,643 - 835,643 10,000 - 263,822 263,822	2023 £ 358,322 514,758 50,569 87,954
		138,523 2023 £ 358,322 514,758 26
		514,784 10,000 50,569 87,954
		138,523

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 £31,378 (2023: £236,423) as agents relating to funds directly raised through appeals and major donors payable to a Landfill operator under the under the Landfill Communities Fund arrangements.

Furthermore, the Charity held £36,349 (2023: £27,853) on behalf of small local environmental organisations which has been excluded in the same way, for which movements are immaterial.

Page 46

WILTSHIRE WILDLIFE TRUST LIMITED DETAILED CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

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 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	2024 £ £ 648,808 143,823 317,305 86,809 21,582 425,696 326,633 1,544,960 2,327,478 413,389 285,972 56,597 755,958 636,089 105,651 171,490 1,576,194 18,221 1,871,556 5,591,081 - 151,362 3,407 154,769 82,743 22,627 18,704 132 124,206 53,599 7,468,615 (6,319,139) (32,989) **1,116,487 **	2024 £ £ 648,808 143,823 317,305 86,809 21,582 425,696 326,633 1,544,960 2,327,478 413,389 285,972 56,597 755,958 636,089 105,651 171,490 1,576,194 18,221 1,871,556 5,591,081 - 151,362 3,407 154,769 82,743 22,627 18,704 132 124,206 53,599 7,468,615 (6,319,139) (32,989) **1,116,487 **	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
	413,389 285,972 56,597		1,707,156 335,000 68,904
		1,544,960 2,327,478 755,958 636,089 1,871,556 5,591,081 154,769 124,206 53,599		841,256 2,177,522 2,111,060 69,400 1,598,860 5,956,842 197,365 97,489 27,721
	105,651 171,490 1,576,194 18,221		88,616 139,815 1,325,916 44,513
	- 151,362 3,407		195 191,853 5,317
	82,743 22,627 18,704 132		74,796 22,444 146 103
		7,468,615		7,120,673
		(6,319,139) (32,989)		(5,574,541) 152,045
		**1,116,487 **		1,698,177

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Page 47

WILTSHIRE WILDLIFE TRUST LIMITED DETAILED CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

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	2024 £ 2,786,866 182,199 25,994 61,672 83,447 1,731,147 23,499 69,326 40,763 40,023 157,609 20,262 168,115 96,308 146,610 41,354 75,469 4,645 45,880 - 39,924 143,276 47,451 31,533 39,725 34,143 147,685 1,699 1,962 10,164 11,577 8,812 6,319,139	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

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 Funds expended on investment additions Funds expended on heritage asset additions	2024 £ 78,214 86,305 660,000 824,519	2023 £ 116,208 - 1,700,000
		1,816,208

This page does not form part of the statutory financial statements

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