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2022-12-31-accounts

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

TRUSTEES’ REPORT AND ACCOUNTS

FOR THE YEAR ENDED

31 DECEMBER 2022

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

CONTENTS

Page
Legal and Administrative Details 2
Message from the Chair 3
Report of the Trustees 4 – 10
Report of the Independent Auditor 11 – 14
Statement of Financial Activities (including the
Income and Expenditure Account) 15
Balance Sheet 16
Statement of Cash Flows 17
Notes to the Financial Statements 18 - 32

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

COMPANY INFORMATION

Trustees Dr Andrew Kitchener (Chair)
Sylvia Kahn-Freund, MA (Cantab.)
Dr Anthony Mitchell Jones
Alexander Richardson
Dr David Bullock (Appointed 01/01/2022)
Chief Executive Jill Nelson
Charity Number 274206
Registered Office 3 Cloisters House
8 Battersea Park Road
London SW8 4BG
Bankers HSBC plc
16 King Street
London WC2E 8JF
Solicitors Hethertons Solicitors
9 Castlegate
York Y01 9RW
Investment Advisors Investec Wealth & Investment
2 Gresham Street
London EC2V 7QP
Auditor PKF Littlejohn LLP
15 Westferry Circus
Canary Wharf
London E14 4HD

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

MESSAGE FROM THE CHAIR

Message from the Chair

In a busy year, we’ve significantly extended our surveying and monitoring of endangered species and habitats in Britain, published the latest status assessment of hedgehogs, reintroduced dormice in Lancashire, and expanded wildlife-friendly training and advice to landowners and managers. Our conservation research grants are supporting exceptional conservation projects worldwide. Helping us were thousands of amazing people volunteering their time, enthusiasm and donations. It wouldn’t be possible without you. Thank you.

Dr Andrew Kitchener Chair, People’s Trust for Endangered Species

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REPORT OF THE TRUSTEES

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

The Trustees are pleased to present the audited Financial Statements together with the annual report for the year ended 31 December 2022. The Financial Statements have been prepared in accordance with the governing Trust Instrument and the Statement of Recommended Practice – Accounting and Reporting by Charities based on Financial Reporting Standard 102.

Structure, governance and management

People’s Trust for Endangered Species (PTES or ‘the Trust’) was founded in 1977 and is constituted under a Trust Deed dated the 4th day of August 1977. The charity is registered with the Charity Commission for England and Wales, number 274206.

The Trustees meet quarterly to decide the allocation of available funds. Trustees may be appointed by resolution of the continuing Trustees at a duly constituted meeting. On appointment, Trustees are inducted through provision of documentation relating to governance and planning, as well as conservation priorities, discussions with the Chair, Chief Executive and other Trustees, and meetings with all staff.

Day-to-day management of the Trust is carried out by the Chief Executive, supported by 14 full-time and nine part-time members of staff. Staffing levels reduced by one over the year. We continue to employ experienced public relations professionals to enhance our media exposure, with considerable success.

PTES also benefits enormously from the hard work of volunteers, who help us in the office with administrative tasks and expert mapping as well as out in the field recording sightings for our surveys. The interaction between our supporters and volunteers, our expert advisors and the long-term commitment of our staff is critical to our success and the Trustees are grateful to them all.

Aims and objectives

The Trust was formed with the aim of ensuring a future for endangered species both in the United Kingdom and abroad.

The Trust pursues this aim by funding research, which forms the basis of conservation strategies for endangered species.

The Trust also funds conservation work in the field to support specific populations of endangered species faced with immediate dangers.

Public benefit

PTES is an independent environmental charity, which addresses the loss of endangered species worldwide. The loss of biodiversity has a direct impact on us all. It affects world food supplies and water availability, and limits the search for new medicines. It also increases our vulnerability to natural disasters and heightens the effects of accelerated global climate change.

The Trust pursues its charitable objects by seeking solutions to conservation problems based on scientific assessment and putting those solutions into practice.

In reviewing our aims and purposes, and as a regular part of our planning for future activity, the Trustees have taken note of the Charity Commission’s guidance on the public benefit.

Our main activity is detailed within the Review of the Year that follows.

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

REPORT OF THE TRUSTEES

Our mission and purpose

Our mission and purpose are to save our wildlife for the future. Our wildlife is disappearing. Almost two thirds of species in the UK have declined in the past 50 years. Over 65,000 species are on the international alert list. There is nothing natural or inevitable about this. It can be stopped and we can all play a part. That’s why PTES exists.

Our approach

Conserving endangered wild animals and the places where they live is a huge task. We make our limited resources work hard, using scientific evidence to judge where action’s most needed and where we’ll have the greatest impact.

We work with land-owners, local communities, scientists and the public and take swift, sustainable action before it’s too late. From hedgehogs and stag beetles in our gardens, to slow lorises in Indonesian rain forests, we work with passion to save them all.

We can’t do it alone so we use our expertise and experience to inspire thousands of volunteers to monitor wildlife and improve their surroundings for nature.

Our year in the UK

Mammals With one in five wild mammals threatened in Britain, it’s vital we know how their numbers change over time so we can act to protect wildlife.

The Living with Mammals survey has collected over 350,000 records of wild mammals at almost 6000 sites since it began. For the first time it ran throughout the year, laying the ground for a more comprehensive picture of how urban mammal populations are changing.

The State of Britain’s Hedgehogs 2022, published with The British Hedgehog Preservation Society, revealed the latest status of hedgehogs drawing on data from PTES, British Trust for Ornithology, and Game and Wildlife Conservation Trust. The decline continues in rural landscapes, but urban populations may be recovering following a historic decline. Funds are being sought for a pilot National Hedgehog Monitoring Programme.

We awarded research grants and internships to scientists at leading universities and conservation organisations, addressing a range of questions and challenges such as:

We continue to support The Rt Hon Chris Grayling, MP, as ‘species champion’ for hedgehogs in Westminster, and The Rt Hon Hilary Benn, MP, for water voles.

Dormice The continuing decline in hazel dormouse populations is concerning. We reintroduced a second dormouse population in Lancashire, close to last year’s, to create a robust metapopulation as they meet and breed.

We manage the long-running National Dormouse Monitoring Programme and run an extensive training programme for conservationists, ecologists and land managers about the ecology and habitat requirements of dormice.

Over the year we have trialled use of dormouse footprint tunnels alongside hedgerow surveying to relate dormouse occupancy to hedge condition. We have trained ecological consultants to survey and manage areas for dormice. We have also been teaching volunteers to use dormouse footprint tunnels and helping landowners improve their hedgerow management.

Hedgehogs Together with The British Hedgehog Preservation Society, we are developing a national hedgehog conservation strategy, facilitated by the IUCN. Involving many stakeholders and researchers, it will have clear targets and a framework for creating local conservation action plans.

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

To underpin the strategy, a trial National Hedgehog Monitoring Programme is planned with partners at Nottingham Trent University, Institute of Zoology and University of Durham, and volunteers using camera traps to generate population density estimates at different sites across Britain.

Leading fencing manufacturer, Birkdale, partnered with Hedgehog Street to produce a ‘hedgehog hole’ that can be fixed to gravel boards, retaining access for hedgehogs without compromising the structure or strength of the fence.

A competition launched through Hedgehog Street celebrated Britain’s Biggest Hedgehog Street in Keyworth, Nottinghamshire, connecting 42 gardens with a resulting healthy hedgehog population. Over 14,600 more Hedgehog Champions were recruited to Hedgehog Street, and 22,800 more hedgehog sightings were added by the public to our Big Hedgehog Map.

Our hedgehog ecology and management course for green space managers was updated during the year. And we shared the latest research findings on the hedgehog’s decline with hundreds of enthusiasts at hedgehog events.

Water voles Predation by American mink and the loss of healthy riverbanks drove a dramatic decline in water voles in less than 50 years. Our National Water Vole Monitoring Programme helps us find out where the remaining water voles are. As the data build, they are guiding conservation efforts and supporting strategic actions for water voles. Our volunteers surveyed 101 more sites than last year, finding presence or signs of water voles at 85 of the 216 sites monitored. We trialled floating latrine rafts to help volunteers detect water voles, proving to be an effective water vole detection method in hard-to-reach habitats.

New training courses were developed for volunteers, ecologists and land managers about the ecology, field signs, survey techniques and habitat requirements of water voles to launch next survey season. We plan to work with the London Water Vole Recovery Project to train community groups and volunteers on water vole monitoring and mink management.

Invertebrates We focus on invertebrates that depend on dead-wood habitats. Among more than 11,000 records received, through our long-running Great Stag Hunt, was a surprise one from Keswick in Cumbria, a county where we have never recorded stag beetles before. We will focus more closely on Cumbria next year. Some volunteers also walked multiple transects for a European monitoring survey designed to measure stag beetle abundance across their range.

Working with the Wye Valley Area of Outstanding natural Beauty (AONB) partnership, we helped them produce a species action plan for noble chafer beetles in the AONB.

Restoring landscapes

Our woodland nature reserve on the Isle of Wight, Briddlesford Woods , is home to rare mammals including red squirrels, dormice and bats, but also thousands of invertebrate species. Annual butterfly, dragonfly and moth surveys, carried out by dedicated volunteers, help us to increase our knowledge about this unique place. We carried out hazel coppicing, planted trees and managed the woodland rides. Some of the dormouse boxes were relocated into easier positions for our regular monitoring of the site. A ten-year woodland management plan was produced to underpin grant applications.

Hedgerows Together with The Tree Council, the Farming and Wildlife Advisory Group and others, we’re engaging the farming community and wildlife volunteers to protect and restore hedgerows.

Our Healthy Hedgerows app provides hedge owners with bespoke hedgerow management advice in response to six easy questions. Also, conservation volunteer effort through the Great British Hedgerow Survey is building a picture of the state of our hedgerows more generally. Over 90 km of hedgerow have been surveyed and management advice generated for 1192 hedges.

A collaboration with Norfolk Wildlife Trust will result in guidance for land managers, creating site landscapescale hedgerow management plans.

We run hedgerow survey training, produce resource materials and take every opportunity to promote the importance of hedges for wildlife, optimal hedgerow management for wildlife and long-term health. We held 36 hedgerow sessions with conservation groups, tree wardens and farmers, published a management booklet for farmers and a hedgerow tree and shrub ID guide for surveyors. We contributed content for the new Hedgelink website and Hedge Hub learning platform. The Healthy Hedgerows app was promoted at Oxford Real Farming and the Bats and Trees conference run by the Arboricultural Association for arborists and ecologists. We also supported National Hedgerow Week in September.

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Traditional orchards Like managed coppice woodlands and grazing meadows, traditionally managed orchards are important refugia for thousands of species of wildlife. A mosaic of other habitats, including grasslands, woodland edges, and hedgerows, orchards make an ideal home for everything from lichens and mosses, through a myriad of tiny insects, to birds, bats and larger mammals.

Cherished for their cultural heritage and wealth of old and new varieties of orchard fruit, public interest in orchards has never been higher. Through our curation of the national orchard inventories and membership of the UK Orchard Network, we work with governments, the public and land managers alike to protect and promote orchard use, planting and protection. And we are supporting the annual Orchard Blossom Day by promoting events throughout the country.

At Rough Hill , our own traditional orchard in Worcestershire, we began a gradual process of rejuvenating the hedgerow, removing old barbed wire, cutting some trees so they can regrow and be laid in future. Gaps will be planted up next year.

Our year worldwide

Supporting conservation research Our five Conservation Partnerships are supporting exceptional conservationists working in challenging situations - slow lorises in Indonesia, lions in Tanzania, snow leopards in Mongolia, giant otters in Peru, and Persian leopards in Iran.

We continue to support projects that offer a real insight into a conservation problem – work that makes a lasting difference. We targeted some of the world’s most endangered and some lesser-known threatened species: Asian giant tortoises in India, Cambodian crocodiles, cichlid fish in Uganda, gorillas in Cameroon, golden langurs in India, hirola, zebra and giraffes in Kenya, Roach’s mouse-tailed dormouse in Bulgaria, Vicente’s poison frogs in Panama, and African wild dogs in Kenya.

Among our successes were releasing captive-bred northern river terrapins into the wild in the Sundarbans in India. We engaged local communities to find and count highly threatened brown-headed spider monkeys in Colombia. Emergency funding provided during the drought in Kenya bought food and water for hirola, zebra, giraffes and livestock. And breeding fingerling fish helped to restock low populations of tilapia in Uganda.

Sharing the learning 1,421 news articles appeared in the press in 2022 – 742 featuring PTES work and 679 featuring our work through Hedgehog Street. Together we have over 102,568 people following us across Facebook, Twitter, Instagram, LinkedIn and YouTube.

Our people and partners

Volunteers, individual supporters, expert advisors and our committed staff and Trustees are all critical to us making a real and lasting difference to wildlife. Also volunteers contribute to our work at our nature reserves, doing wildlife surveys and supporting us through fundraising events.

Our success relies on the help of many others too. Charitable trusts, individual supporters, expert advisors and the long-term commitment of our staff and Trustees are all critical to us making a real and lasting difference to wildlife. We have partnerships with many organisations. Notable among these are:

ARC Trust, Bat Conservation Trust, The British Hedgehog Preservation Society, BTO, Buglife, Common Dormouse Captive Breeders Group, CPRE, Dorset Mammal Group, European Hedgehog Research Group, Farmer Cluster Network, Forestry England (Jeskyn’s Community Woodland, Thames Chase), Froglife, FWAG, Game and Wildlife Conservation Trust, Garden Wildlife Health Project, Hedgehog Aware, Hedgehog Friendly Campus, Hedgelink, HMP Humber, InvertLINK, Isle of Wight Council, Isle of Wight Natural History Society, Jonathan Cox Associates, Kent Mammal Group, Landscape Therapy, Lincolnshire Dormouse Group, Local Environmental Records Centres, London HogWatch, Mammal Society, Mid-Shires Orchard Group, Moor Trees, Natural England, National Association of Cider Makers, NBN, National Fruit Collection, National Hedgelaying Society, National Trust, Natural Resources Wales, Norfolk Wildlife Trust, Nottinghamshire Dormouse Group, Nottingham Trent University, Nottinghamshire Wildlife Trust, Orchards East Forum, Orchard Network, Paignton Zoo Environmental Park, RSPB, Shropshire Dormouse Group, Surrey Dormouse group, Test Valley Dormouse Project, The Orchard Project, The Tree Council, University of Cumbria, University of Reading, Warwickshire Wildlife Trust, WildChiswick, Wildlife and Countryside Link, Wildlife Gardening Forum, Wildlife Trusts, Wildwood, Yorkshire Dales National Park Authority, and ZSL.

Thank you to all our partners

Fundraising

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REPORT OF THE TRUSTEES

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

Our fundraising is led by our own staff team, which oversees the income we raise from individual givers (through appeals and legacies), recruiting new supporters, bids to trusts and foundations, corporate partnerships, community fundraising and retail. No external professional fundraisers are employed. We are registered with the Fundraising Regulator and are subject to their regulations. No fundraising complaints were reported to us or to the Fundraising Regulator during the year.

Financial supporters

Most of our income comes from individual donors through regular gifts and cash donations. Your generosity and loyalty are boundless and invaluable, and particularly appreciated in challenging times.

We are also greatly indebted to those who gave the ultimate gift to us by leaving a legacy so that we can plan ahead with confidence and respond quickly to need. We received legacies this year from the following estates: Mrs A Arkell, Mr A Austen, Miss E Bickell, Mr J Bowerbank, Miss S Bowers, Mr P Bradley, Mrs S Burley, Mr J Choat, Miss B Dalby, Mrs P Davey, Mr F Dowdney, Mrs M Fanghanel, Mrs R Flowers, Mrs J Fulcher, Mr E Gwynne, Miss J Hallam, Miss A Hamilton, Mr J Huntingford, Mrs H Lynch, Mrs R Martin, Miss K Morant, Mrs E Scott, Mrs L Stephens, Mrs J Stevenson, Mrs L Watson and Miss V Wincup.

During the year we received support from the following trusts and foundations: Daisie Rich Trust, David Cutforth Charitable Trust, Dr A Banister, Hamamelis Trust, Henocq Law Trust, Keith Ewart Charitable Trust, Mrs Jean S Innes Charitable Trust, Mrs Mary A Salmon, RG Hills Charitable Trust, RO Kinnison Charitable Trust, Stephen Cockburn Charitable Trust, The Antrobus Bewlay Charitable Trust, The Derek and Clare Stevens Trust, The Mullion Trust, The Oakdale Trust, The Rowland Trust Fund, The Tisbury Telegraph Trust, The Walker 597 Trust, and Walter Guinness Charitable Trust.

We further enhanced our shop website and added some new environmentally conscious products, produced mainly by small UK-based businesses. Our retail shop in Egham bounced back to life after the forced lockdown periods. Our rent-free status and the government’s furlough scheme meant that costs remained manageable. Our thanks to the managers and volunteers who give so much time and energy.

Thank you to all to our corporate partners: Barry M, Bad Wolf Productions, Big Wild Thought, Michael O’Mara Books, Animex, CJ Wildlife, Seedball, Creature Candy, Taylor Wimpey, Holidaycottages.co.uk, Wild Life Drawing, Head2Heart Books, Wildcare, Tahlia Paiga, Amy Turrell Illustration, and artists Penel Kirk and Kate Priestman. And to our supporters of Hedgehog Street: Birkdale plc, Hopkins Homes, Taylor Wimpey.

Our most sincere thanks go to all our supporters

Forthcoming plans

Due to the exceptional loyalty and generosity of our supporters during an economically volatile year, our income in 2022 is a great source of pride. There is much to look forward to in the coming year, including:

Financial matters

In January, the Trustees agreed a budget for 2022, and discussed the forward commitments beyond, with a prudent eye on expenditure and fundraising potential in response to the continuing uncertainty and constraints posed by the pandemic. Expenditure and income continued to be closely monitored throughout the year. Income levels turned out significantly better than expected owing to the loyalty of our supporters and efforts of our fundraising team. The challenge of maintaining and increasing sources of income remains, given inflationary pressures. We continue to invest significantly in recruiting more supporters, including enhancing our fundraising and marketing budget in the expectation of future income. And we will further invest in our retail

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

capacity to maintain income levels in challenging circumstances. We continue to seek new supporters through social media marketing predominantly.

Financial results

Income for the year amounted to £1,236,301, a decrease on the previous year’s total of £1,761,861.

Total expenditure for the year was lower at £1,509,083 compared with £1,589,453 in 2021. Charitable expenditure amounted to £936,962 (2021 - £1,006,073) including direct grants payable of £181,567 (2021 - £268,416).

The Trust has committed future grant payments of £261,528 (2021 - £332,774) at the year-end. This forward commitment relates to research grants awarded over a period of more than one year.

After accounting for the performance of investments, total funds at the year-end amounted to £3,431,384 (2021 - £3,908,720) of which £397,403 (2021 - £433,839) are held for restricted purposes.

Financial reserves policy

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. The Trustees consider that at this level the Trust can meet its current conservation obligations (excluding grants to third parties) and be responsible employers in terms of long-term commitments or should we have any temporary financial difficulties in raising funds and to make redundancy payments should the need arise. The Trust makes numerous research grants to third-party projects of more than one-year duration, and as many as five years ahead in some instances. Thus, the Trustees consider that further provision within the reserves should be made for research project commitments to be met. The forward commitment is reviewed annually and currently stands at £261,528 .

The balance held as unrestricted funds at 31 December 2022 was £3,431,384 of which £3,033,981 is regarded as free reserves, after allowing for funds tied up in tangible fixed assets. Notwithstanding the above, the trustees consider that the current level of reserves is higher than is immediately needed. Our programme of five-year conservation partnerships anticipates up to five grants of £100,000 each will be awarded on a rolling basis. A commitment to habitat work on hedgerows is continuing, a three-year trial of national hedgehog monitoring is planned, and an update of the habitat inventories for traditional orchards. The level of the reserves is considered by the Trustees on an annual basis and considered as part of the annual budgeting.

Investment policy

The Trustees reserve the right to exclude companies that carry out activities known to be to the detriment of the environment. The investment policy is reviewed annually.

Investment properties

PTES owns three office units at Cloisters House in addition to its own office premises. These offices are commercially let to raise income for conservation work. A desktop valuation was made of the property this year and the value of the properties has been adjusted accordingly. The local market rates are quite volatile as office rentals in London remain dynamic in response to changing work patterns. Also there continues to be a supply of new rental stock in the area. A professional market evaluation will be sought in 2024 (previously 2019).

Related party transactions and Trustee’ expenses and remuneration

No Trustees received any remuneration from the charity during the year. Trustees received reimbursement for expenses between them totalling £2,548 (2021 - £434). These reimbursements were for travel, accommodation and subsistence expenses.

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

Basis of preparation and assessment of going concern

The Trust constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant areas of adjustment and key assumptions that affect items in the accounts are to do with estimating the liability from multi-year grant commitments and forecasting fundraising revenue given the

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

level of reliance on legacy income. The Trustees have approved continuing investment in fundraising to attract more individual givers over the next four years. There are sufficient funds to meet liabilities for at least 12 months from the signing date of the financial statements.

Key management personnel remuneration

The Trustees consider the Board of Trustees and the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. The Grants Manager is also considered key personnel in relation to the allocation of research grants.

The pay of the Chief Executive and all staff is reviewed annually and normally increased in accordance with average earnings. The remuneration is benchmarked with conservation charities of a similar size and activity to ensure that the remuneration is fair and not out of line with what is generally paid for similar roles.

Risks and uncertainties

The economic risk posed by the impact of the pandemic and the conflict in Ukraine on employment, businesses and associated inflationary pressures in the UK is a risk with respect to fundraising. Some sources of funding, such as from trusts and foundations were particularly hit by demand making it harder to make gains. Other risks include data breaches, loss of IT capacity, loss of key staff, inability to deploy volunteers. Trustees approve a risk assessment annually to measure and monitor areas of risk.

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

REPORT OF THE TRUSTEES

Auditor

PKF Littlejohn LLP have indicated their willingness to continue in office.

Disclosure of information to the auditors

We, the Trustees of the charity who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

Approval

This report was approved by the Trustees on 2023 and signed on its behalf.

Ms Sylvia Kahn Freund

Trustee

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

REPORT OF THE INDEPENDENT AUDITOR

Independent Auditor’s Report to the Trustees of The People’s Trust for Endangered Species

Opinion

We have audited the financial statements of The People’s Trust for Endangered Species (the ‘charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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. The trustees are responsible for the other information contained within the report of the trustees. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

REPORT OF THE INDEPENDENT AUDITOR

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements which 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 charity’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 charity 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 as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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:

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

REPORT OF THE INDEPENDENT AUDITOR

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 noncompliance. 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/auditorsresponsibilitieshttp://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99sresponsibilities-forhttps://www.frc.org.uk/auditors/audit-assurance/standards-and-guidance/2010-ethicalstandards-for-auditors-(1). This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

PKF Littlejohn LLP Statutory Auditor

15 Westferry Circus Canary Wharf London E14 4HD

2023

PKF Littlejohn LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006

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THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022

Unrestricted
Notes
Funds
£
Income and endowments from:
Donations and legacies
2
841,423
Charitable activities
3
163,405
Investments
4
22,912
Sale of goods and publications
5
113,086
Other income
6
95,475
_
Total Income and endowments
1,236,301
_
Expenditure on:
Raising funds
7
539,121
Charitable activities
8
933,188
_
Total expenditure
1,472,309
_
Net Income/(expenditure) before net
unrealised/ realised (losses) on
investments
(236,008)
_
Net unrealised/realised (losses) / gains on
investments
16
(204,892)
_
Net (expenditure) and movement in
funds
(440,900)
_
Reconciliation of Funds:
Total funds brought forward
19
3,474,881
_
Total funds carried forward
19
3,033,981
 Restricted
Funds
£
338
-
-
-
-
_
338
_
-
36,774
_
36,774
_
(36,436)
_
-
_
(36,436)
_
433,839
_
397,403
 Total
2022
£
841,761
163,405
22,912
113,086
95,475
_
1,236,639
_
539,121
969,962
_
1,509,083
_
(272,444)
_
(204,892)
_
(477,336)
_
3,908,720
_
3,431,384
 Total
2021
£
1,365,685
195,168
20,617
88,755
91,636
_
1,761,861
_
583,380
1,006,073
_
1,589,453
_
172,408
_
(534,160)
_
(361,752)
_
4,270,472
_
3,908,720

All income and expenditure derives from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on page 18 to 32 form part of these Financial Statements.

15

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

BALANCE SHEET AT 31 DECEMBER 2022

Notes
£
Fixed Assets
Tangible assets
15
921,637
Investments
16
937,752
Investment Property
16
1,166,688
Cash at Stockbrokers
44,890
_
Current Assets
Stocks
17,104
Debtors
17
270,744
Cash at bank and in hand
172,700
_
460,548
Creditors: Amounts Falling Due
Within One Year
18
(87,612)
__
Net Current Assets
Creditors: Amounts Falling Due
After one Year
18
Total Net Assets
Charity Funds
Unrestricted funds
19
Restricted funds
19		 2022
£
£
937,551
1,231,266
1,166,688
94,084
_
3,070,967
11,595
453,738
168,788
_
634,121
(142,471)
_
372,938
(12,519)
_
3,431,384
_
3,033,981
397,403
_
3,431,384
__		 2021
£
3,429,589
491,650
(12,519)
_
3,908,720
_
3,474,881
433,839
_
3,908,720
_

The financial statements were approved and authorised by the Board of Trustees on and were signed on its behalf by:

Ms Sylvia Kahn Freund Trustee

The notes on pages 18 to 34 form part of these Financial Statements.

16

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2022

Notes
Cash flow from operating activities
21
Net cash flow provided by operating
activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
15
Payments to acquire Investments
16
Receipts from sales of investments
16
Dividends and interest from investments
Net cash flow used in investing activities
Change in cash and cash equivalents in
the year
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash at Stockbrokers
Cash and cash equivalents at 31 December		 2022
£
(156,816)
_
(156,816)
_
-
(264,174)
352,796
22,912
_
111,534
_
(45,282)
262,872
_
217,590
_
172,700
44,890
_
217,590
__		 2021
£
40,741
_
40,741
_
-
(326,149)
348,065
20,617
_
42,533
_
83,274
179,598
_
262,872
_
168,788
94,084
_
262,872
__

The notes on pages 18 to 34 form part of these Financial Statements.

17

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

1. Summary of significant accounting policies

The significant accounting policies applied in the preparation of these financial statements are set out below. The accounting policies have been applied consistently throughout the year and in the preceding year, unless otherwise stated.

Basis of Preparation of Accounts and General Information

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 (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommend Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity.

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.

Going Concern

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant areas of adjustment and key assumptions that affect items in the accounts are to do with estimating the liability from multi-year grant commitments and forecasting fundraising revenue given the level of reliance on legacy income. The trustees have approved investment in a significant fundraising drive to attract more individual givers over the next four years.

Income Recognition

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

Income from donations, including gifts and grants that provide core funding or are of general nature, are recognised on receipt, unless there are conditions attached to the donation that require a level of performance before entitlement can be obtained. In this case 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.

Legacy income is recognised when the charity becomes aware that probate has been granted, there are sufficient assets in the estate to pay the legacy and that any conditions attached to the legacy are either in control of the charity or have already been met. On occasion legacies will be notified where it is not possible to measure the amount expected to be distributed with sufficient reliability. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from 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.

The charity receives grant income which provides funding to support the performance activities. Income from other grants are 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.

18

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

1. Accounting Policies (continued)

Income recognition (continued)

Investment income is recognised on a receivable basis. Investment income is earned through holding assets for investment purposes such as shares and includes dividends and interest.

Other income includes rent income which is recognised as the charity’s right to receive payment is established.

Expenditure Recognition

All expenditure is accounted for on an accruals basis. 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:

Grants payable to third parties are included in expenditure on charitable activities. Where unconditional grants are made, these amounts are recognised when a constructive obligation is created, typically when the recipient is notified that a grant will be made to them. Where grants are conditional on performance, then the grant is only recognised once any unfulfilled conditions have been met that are outside of the control of the charity.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office/premises costs, communications costs, governance costs, and management and administration 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 each programme activity based on the size of the programme expenditure as a proportion of the total expenditure on charitable activities and raising funds.

The costs of raising funds (fundraising costs) are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 9.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. The cost of minor additions or those costing less than £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on a straight-line basis:

Motor Vehicles 25%
Fixtures & Fittings 20% - 33%
Roof improvements 4%
Long Leasehold buildings 2%

19

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

1. Accounting Policies (continued)

Investments

Publicly traded investments, or those where fair value can otherwise be measured reliably, are measured at fair value at each balance sheet date, with changes in fair value recognised in ‘net gains/(losses) on investments’ in the SoFA.

Investment property is carried at fair value, which has been valued by and independent valuer which holds the relevant professional qualifications and experience in the are to be able to value the property. No depreciation is provided. Changes in fair value are recognised in the Statement of Financial Activities for the current period. The investment properties are revalued every 5 years. The investment properties were last revalued at 31 December 2021.

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.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Funds

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

Restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor-imposed conditions. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Tax

The charity is an exempt 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 of the Finance Act 2010. It therefore meets the definition of a charitable company for UK corporation tax purposes.

20

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

2. Income from donations and legacies

Legacies
Donations		 Total
2022
£
275,811
565,950
_
841,761
_		 Total
2021
£
737,188
628,497
_
1,365,685
_

Income from donations and legacies was £841,761 (2021 - £1,365,685) of which £841,423 (2021 – £1,254,264) was attributable to unrestricted funds and £338 (2021 - £111,421) was attributable to restricted funds.

3. Income from Charitable Activities

Grants
Other charitable income		 Total
2022
£
152,913
10,492
_
163,405
_		 Total
2021
£
188,033
7,135
_
195,168
_

Income from charitable activities was £163,405 (2021 - £195,168) of which £163,405 (2021 – £195,168) was attributable to unrestricted funds and £Nil (2021: £Nil) to restricted funds.

4. Income from investments

Dividends and interest on investments Total
2022
£
22,912
_
22,912
_		 Total
2021
£
20,617
_
20,617
_

Income from investments of £22,912 (2021: £20,617) was attributable to unrestricted funds.

5. Sale of goods and publications

Pop-up shop sales income
Online sales income
Other sales income
Total sales of products and publications		 Total
2022
£
34,941
52,154
25,991
_
113,086
_		 Total
2021
£
12,800
48,452
27,503
_
88,755
_

21

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

5. Sale of goods and publications (continued)

Cost of Sales:
Opening Stock
Purchases
Closing Stock
Surplus on sales activity		 Total
2022
£
11,595
21,822
(17,104)
_
16,313
_
74,431
__		 Total
2021
£
4,224
27,554
(11,595)
_
20,183
_
68,572
__

Income and expenditure arising from the sales of goods are wholly attributable to unrestricted funds.

6. Other income

Corporate Income
Rental Income
Miscellaneous Income		 Total
2022
£
48,631
44,618
2,226
__
95,475
 Total
2021
£
58,279
30,658
2,699
__
91,636

Other income was wholly attributable to unrestricted funds.

  1. Costs of raising funds
Salaries and staff costs
Investment fund managers costs
Sales activities
Other direct costs
Support costs		 Total
2022
£
216,925
10,057
38,789
173,238
100,112
_
539,121
_		 Total
2021
£
231,494
10,057
48,766
174,226
118,837
_
583,380
_

Costs of raising funds was £539,121 (2021 - £583,380) of which £ 539,121 (2021 - £583,380) was attributable to unrestricted funds and £Nil (2021: £Nil) to restricted funds.

22

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

8. Analysis of expenditure on charitable activities

Current Year
Research grants support
Research grants
Nature reserves
Conservation projects
Education and public awareness		 Salaries
and staff
costs
£
32,839
-
21,250
277,256
27,739
__
359,084
 Direct
costs
£
-
175,742
66,808
102,768
15,282
__
360,600
 Support
costs
£
16,685
-
16,685
133,482
83,426
__
250,278
 Total
2022
£
49,524
175,742
104,743
513,506
126,447
__
969,962

£36,774 of the above costs were attributable to restricted funds (2021 - £62,222) and £933,188 (2021 - £943,851) were attributable to unrestricted funds.

Prior Year
Research grants support
Research grants
Nature reserves
Conservation projects
Education and public awareness		 Salaries
and staff
costs
£
36,029
-
20,280
248,734
25,468
__
330,511
 Direct
costs
£
-
259,665
48,149
115,952
14,124
__
437,890
 Support
costs
£
16,976
-
16,976
118,837
84,883
__
237,672
 Total
2021
£
53,005
259,665
85,405
483,523
124,475
__
1,006,073

23

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

9. Allocation of support costs

Current Year
Management &
Administration
Staff costs
£
Fundraising
46,286
Research grants
7,714
Nature reserves
7,714
Conservation projects
61,714
Education and public awareness
38,571
__
161,999
 Premises
Governance
costs
costs
£
£
46,704
7,122
7,784
1,187
7,784
1,187
62,272
9,496
38,920
5,935
_
_
163,464
24,927

 Total
2022
£
100,112
16,685
16,685
133,482
83,426
__
350,390

Support costs are allocated in accordance with the accounting policy on page 19.

Prior Year
Management &
Administration
Staff costs
£
Fundraising
51,199
Research grants
7,314
Nature reserves
7,314
Conservation projects
51,199
Education and public awareness
36,570
__
153,596
 Premises
Governance
costs
costs
£
£
60,964
6,674
8,709
953
8,709
953
60,964
6,674
43,546
4,767
_
_
182,892
20,021

 Total
2021
£
118,837
16,976
16,976
118,837
84,883
__
356,509

24

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

10. Analysis of grants

Grants totalling £181,567 is reflective of grants paid. Recipients of grants:

Conservation Insight Grant

Grant Recipient Grant Title and Description Grant
Amount
Turtle Survival Alliance Lost Endangered Turtle; Northern River terrapin_(Batagur baska_) in
the Sundarbans		 11,950
Rainforest Concern Creation of protection strategies for black and chestnut eagle at the
Neblina Reserve, Ecuador		 9,848
Neotropical
Primate
Conservation Colombia		 Distribution and conservation ecology of an endangered spider
monkey:_Ateles fusciceps_inColombia		 8,876
Hirola
Conservation
Programme		 Drought response and mitigation in eastern Kenya 15,000
Hope for Nature Population Recovery of_Haplochromis granti_fish in Koome Islands,
Lake Victoria, Uganda		 5,000

Conservation Partnership

Grant Recipient Grant Title and Description Grant
Amount
WildCRU, University of
Oxford		 Project Persian Leopard in north eastern Iran 7,000
Oxford
Brookes
University		 The Little Fireface Project 20,000
WildCRU, University of
Oxford		 Conserving large carnivores through community empowerment in
southern Tanzania		 40,000
Saiga
Conservation
Alliance		 Saiga conservation Resurrection Island 20,000
Snow
Leopard
Conservation
Foundation		 Advancing local capacity for community-managed snow leopard
conservation, Tost LPA, South Gobi Mongolia		 20,000

UK mammal research and conservation grants

Grant Recipient Grant Title and Description Grant
Amount
Trees for Life The Reds Return 6,500
Woodland Trust Fingle Dormouse abitat links 2,000
Zoological Society of
London		 Cornwall badger vaccination project 9,750
BATS Ltd Improvingthe future for two tree-dwellingbat species 2,744
Royal
Zoological
Society of Scotland		 Saving wildcats for life 20,000
Zoological
Society
London		 DRAHS Disease Risk Analysis & Health Surveillance 5,000

Other grants awarded in the year

Total grants payable in the year

£ (22,101) 181,567

25

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

11. Governance costs

Staff costs
Legal and professional fees
Trustees’ expenses
Auditor’s remuneration		 Total
2022
£
10,864
248
2,548
11,173
__
24,833
 Total
2021
£
10,612
60
434
8,915
__
20,021

12. Net income for the year

The net income is stated after charging:

Depreciation of tangible fixed assets
Auditor’s remuneration – Statutory audit		 Total
2022
£
15,914
11,700
__		 Total
2021
£
20,791
8,915
__

13. Trustees’ and key management personnel remuneration and expenses

The trustees consider the board of trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. The grants manager is also considered key personnel in relation to the allocation of research grants.

The pay of the chief executive and all staff is reviewed annually and normally increased in accordance with average earnings. The remuneration is benchmarked with conservation charities of a similar size and activity to ensure that the remuneration is fair and not out of line with what is generally paid for similar roles.

The total amount of employee benefits received by key management personnel during the year was £104,753 (2021 - £102,308) including pension contributions of £8,332 (2021 - £8,056).

The trustees neither received nor waived any remuneration during the year (2021: £Nil).

14. Staff costs and employee benefits

The total staff costs and employee benefits were as follows:

UK employee salaries
Social security
Defined contribution pension costs		 Total
2022
£
640,509
62,800
35,040
_
738,349
_		 Total
2021
£
630,464
55,402
34,663
_
720,529
_

26

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

14. Staff costs and employee benefits (cont)

The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows:

Number of employees
2022 2021
£80,001 - £90,000 - -
£90,001 - £100,000 1 1

During the year the charity paid £8,332 (2021 - £8,179) under a defined contribution pension scheme on behalf of the staff members earning over £60,000.

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

Research grants
Nature reserves
Conservation projects
Fundraising
Education and public awareness
Administrative		 2022
1
1
8
6
1
4
_
21
_		 2021
1
1
8
8
2
2
_
22
_

No trustees received any remuneration from the charity during the year.

Four trustees (2021 – two) received reimbursement for expenses between them totalling £2,548 (2021 - £434). These expenses were made up of travel and accommodation expenses of £2,548 (2021 - £434).

Trustees are required to disclose all relevant interests and register them with the chief executive and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.

27

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

15. Tangible Fixed Assets

Cost
As at 1 January 2022
Additions
Disposals
As at 31 December 2022
Depreciation:
As at 1 January 2022
Charge for the year
Disposals
As at 31 December 2022
Net book value:
At 31 December 2022
At 31 December 2021		 Freehold
Land
Long
Leasehold
Property
Roof
Improvements
Motor
Vehicles
£
£
£
£
499,946
512,785
36,123
12,558
-
-
-
-		 Fixtures
and
fittings
Total
£
£
92,995
1,154,478
-
-
-
108,488
7,902
12,558
-
10,256
1,153
-
-		 87,908
216,856
4,506
15,914
-
118,744
9,055
12,558		 92,414
232,771
499,946
394,041
27,068
-		 581
921,637
499,946
404,297
28,221
-		 5,087
937,551

16. Fixed Asset Investments

Fixed asset investment
Investment property
(a) Fixed asset investments
As at 1 January
Additions
Disposals
Net gains/(losses) on revaluation
Market Value as at 31 December
Historical cost as at 31 December		 2022
£
937,752
1,166,688
_
2,104,440
_
2022
£
1,231,266
264,174
(352,797)
(204,892)
937,751
_
910,266
_		 2021
£
1,231,266
1,166,688
_
2,397,954
_
2021
£
1,168,202
326,149
(348,065)
84,979
1,231,266
_
910,266
_

28

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

Analysis of Quoted Investments

Analysis of Quoted Investments
UK Quoted
Europe Quoted Investments
Overseas Quoted Investments
Historical cost as at 31 December
Material Investments
Investments representing more than 5% of the market value of the portfolio
Vanguard Funds Plc S&P 500 Ucits Etf USD Dis (6.01%)
Baillie Gifford American W3 Dis
(b) Investment property
As at 1 January
Revaluation
Market Value as at 31 December
17.Debtors
Legacies receivable
Other debtors
Prepayments and accrued income
18.Creditors
Amounts Falling Due Within One Year
Trade creditors
Social security & other taxes
Other creditors
Accruals
Grants Payable		 2022
£
477,808
47,006
335,066
_
859,880
_
2022
£
54,362
-
_
2022
£
1,166,688
-
_
1,166,688
_
2022
£
255,881
-
14,863
_
270,744
_
2022
£
28,049
13,475
1,638
18,540
25,910
_
87,612
__		 2021
£
492,781
58,531
358,954
_
910,266
_
2021
£
89,874
65,778
_
2021
£
1,785,827
(619,139)
_
1,166,688
_
2021
£
365,786
-
87,952
_
453,738
_
2021
£
37,227
12,602
4,455
72,852
15,335
_
142,471
__
_

29

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

18. Creditors (cont.)

Amounts Falling Due After One Year

Provision for repairs

2022
£
12,519
__		 2021
£
12,519
__

19. Fund reconciliation

Balance as
at 1.1.22
£
Mammal Trust UK
215,251
Briddlesford Wood
33,943
Briddlesford Wood Capital Grant
157,125
White Rhino and Gorilla
27,520
_
Total restricted funds
433,839
_
General Funds
3,474,881
_
Total unrestricted funds
3,474,881
_
Total funds
3,908,720
 Income Expenditure Investments
Balance as
costs (losses)/gains
at 31.12.22
£
£
£
£
338
(36,774)
-
178,815
-
-
-
33,943
-
-
-
157,125
-
-
-
27,520
_
_
_
_
338
(36,774)
-
397,403
_
_
_
_
1,236,301
(1,472,309)
(204,892)
3,033,981
_
_
_
_
1,236,301
(1,472,309)
(204,892)
3,033,981
_
_
_
_
1,236,639
(1,509,083)
(204,892)
3,431,384
Balance as
at 1.1.21
£
Mammal Trust UK
166,052
Briddlesford Wood
33,943
Briddlesford Wood Capital Grant
157,125
White Rhino and Gorilla
27,520
_
Total restricted funds
384,640
_
General Funds
3,885,832
_
Total unrestricted funds
3,885,832
_
Total funds
4,270,472
 Income Expenditure Investments
Balance as
costs (losses)/gains
at 31.12.21
£
£
£
£
111,421
(62,222)
-
215,251
-
-
-
33,943
-
-
-
157,125
-
-
-
27,520
_
_
_
_
111,421
(62,222)
-
433,839
_
_
_
_
1,650,440
(1,527,231)
(534,160)
3,474,881
_
_
_
_
1,650,440
(1,527,231)
(534,160)
3,474,881
_
_
_
_
1,761,861
(1,589,453)
(534,160)
3,908,720

30

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

Purposes of Restricted Funds:

Sufficient funds are held for each restricted fund in an appropriate form to enable each fund to be applied in accordance with any restrictions imposed.

20. Analysis of net assets between funds

Current Year
Restricted Funds
Briddlesford Wood
Mammal Trust UK
Briddlesford Wood Capital Grant
White Rhino and Gorilla
Unrestricted funds
Total funds
Prior Year
Restricted Funds
Briddlesford Wood
Mammal Trust UK
Briddlesford Wood Capital Grant
White Rhino and Gorilla
Unrestricted funds
Total funds		 Tangible
Fixed
Investments
Assets
£
£
-
-
157,125
-
-
-
_
_
157,125
-
764,512
2,149,330
_
_
921,637
2,149,330
_
_
Tangible
Fixed
Investments
Assets
£
£
-
-
-
-
157,125
-
-
-
_
_
157,125
-
780,426
2,492,038
_
_
937,551
2,492,038

 Net
Current
Assets
£
33,943
178,815
27,520
_
240,278
132,658
_
372,936
_
Net
Current
Assets
£
33,943
215,251
-
27,520
_
276,714
214,936
__
491,650
 Non
Current
Liabilities
£
-
-
-
-
_
-
(12,519)
_
(12,519)
_
Non
Current
Liabilities
£
-
-
-
-
_
-
(12,519)
__
(12,519)
 Total
£
33,943
178,815
157,125
27,520
_
397,403
3,033,981
_
3,431,384
_
Total
£
33,943
251,251
157,125
27,520
_
433,839
3,474,881
__
3,908,720

31

THE PEOPLE'S TRUST FOR ENDANGERED SPECIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

21. Reconciliation of net income to net cash flow from operating activities

Net outgoing resources for year
Dividends, interest and rents from investments
Depreciation of tangible fixed assets
(Gain) / Loss on disposal of fixed asset investments
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase in creditors
Unrealised loss of fixed asset investments		 2022
£
(477,336)
(22,912)
15,914
(38,042)
(5,509)
182,994
(54,859)
242,934
__
(156,816)
__		 2021
£
(361,752)
(20,617)
20,791
(37,516)
(7,371)
(129,478)
5,009
571,675
__
40,741
__

22. Pensions and other post-retirement benefits

Defined contribution pension plans

The Charity makes contributions to a group personal pension scheme. The assets of the scheme are held separately from those of the Charity and are independently administered.

The pension cost charge of £33,840 (2021 - £34,663) represents contributions payable by the Charity to the scheme. The pension expense has been charged to specific programmes where staff are engaged in particular activities. The pension expense included with support costs has been allocated across the activities between unrestricted and restricted funds in accordance with the accounting policy on page 19 .

23. Ultimate Controlling Party

For the whole of the year, the charity was under the control of the Board of Trustees as shown on page two.

24. Financial instruments

The charity holds a number of financial assets (for example debtors and cash) and financial liabilities (for example creditors and provisions for grants payable) which meet the definition of basic financial instruments under the FRS 102 SORP. Details of the measurement bases, accounting policies and carrying values for these financial assets and liabilities are disclosed in the notes above.

32