THE PEOPLE'S TRUST FOR ENDANGERED SPECIES TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES CONTENTS Page Legal and Administrative Details Message from the Chair Report of the Trustees 4-12 Report of the Independent Auditor 13-15 statement of Financial Activities (including the Income and Expenditure Accounti 16 Balance Sheet 17 statement of Cash Flows 18 Notes to the Financial Statements 19-35 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES COMPANY INFORMATION Trustees Dr Andrew Kitchener IChair} Sylvia Kahn-Freund, MA Icanlab.) Dr Anthony Mitchell Jones Dr David Bullock Chief Executive Jill Nelson Ilo 31112120231 Nida Al-Fulaij (from 01101120241 Charity Number 274206 R¢gi$tered Officg 3 Cloisters House 8 Battersea Park Road London SW8 48G Bankers HSBC plc 16 King Street London WC2E 8JF Solicitors Hethertons Solicitors 9 Castlegale York Y01 9RW Invg$trnont Advisors Investec Wealth & Investment 2 Gresham Street London EC2V 7QP Auditor PKF Littlejohn LLP 15 Westferry Circus Canary Wharf London E14 4HD THE PEOPLE'S TRUST FOR ENDANGERED SPECIES MESSAGE FROM THE CHAIR Message from the Chair 11 has been another busy and productive year for People's Trust for Endangered Species and we're delighted with our achievements. We held another successful national dormouse Conferen￿ at the UnNersity of Reading where we launched our third State of Brilian's Dormi￿ report. In spring, the National Hedgehog Monitoring Programme pilot officially began, using a world-first combination of trail cameras, Artificial Intelligence IAII and volunteers to produce robust hedgehog population estimates. We continue lo support critical conservation work around the world. in addits'on to investing in early career conservationists in the UK. None of our successes would be possible without the generous gifts from our many donors and we are also indebted lo our fantastic team of st2ff, volunteers and supporters. Thank you for standing up for wildlife with People's Trust for Endangered Species. Your support makes all the difference. And finally, I would like lo thank Jill Ne150n, our CEO, on behalf of the board. Jill retired al the end of thi5 year after almost twenty years at the helm of PTES. During that lime she led the charity through ils many successes and triumphs. and guided the organisation safely through the pandemic. We wish her a happy retirement. Dr Andrew Kitchener Chair, People's Trust for Endangered Species THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES The Trustees of People's Trust for Endangered Species are pleased lo present the audited financial statements together with the annual ￿port for the year ending 31 December 2023. The fi'nancial statements have been prepared in accordance with the governing trust instrument and the Slalement of Recommended Practice- Accounting and Reporting by Charities based on Financial Reporting Standard 102. structure, govemance and management People's Trust for Endangered Species {PTES or'lhe Trusl'l 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 lo decide the allocation of available funds. Trustees may be appointed by resolution of the continuing Trustees at a duly constituted meeting. On appoinlmenl, Trustees are inducted through provision of documentstion relating to governance and planning, as well as conservation priorities, discussions with the Chair, Chief Executive Officer and other Trustees. and meetings with all staff. Day-to-day management of the Trust is carried out by the Chief Executive Officer. During 2023 23 staff were employed, 15 full-time and eight part-time members of staff, two of whom were on maternity leave. Staffing levels reduced by one over the year. We continue to employ an experienced public relations professional 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 collecting data 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 Suc￿sS and the Trustees are grateful lo Ihern all. Aims and objectives The Trust was formed with the aim of ensuring a fvture for endangered species around the globe and here in the United Kingdom. PTES pursues this aim by funding resear¢h, the findings of which are used lo underpin conservation strategies for endangered species. The Trust also funds consetwalion work in the field to support specific populations of endangered species facing varied threats. Public benefit PTES is an independent environmental charity, which addresses the threats causing the loss of endangered species worldwide. The loss of biodiversity and resulting changes lo ecosystems have a direct irnpact on people in addition to the direct effeels on species and their habilals. 11 affects world food supplies and water availability. It also increases our vulnerability to natural disasters and heightens the effects of accelerated global climate change. The Trust pursues its charitable objectives by seeking solutions lo conservation problems based on scientific assessment and putting those solutions into practi￿. We support a programme of conservation research and sustainable conservation action worldwide We identify key partners lo lead the practical conservation and research we support. ensuring we invest in people on the ground who we know will make a real difference We engage in monitoring and Surveillan￿ of key species and habitats We have a particular interest in mammals and invertebrates, and their habitats in the UK We protect the biodiversity of our own nature resetves We promote public awareness and education in conservab'on and the natural world 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. THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Our mlsslon and purpo$e 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 inlernalion8121ert list. There is nothing natural or inevitable about this. 11 can be stopped and we can all play a part. That's why PTES exists. We work with scientists, conservationists, landowners, government. and the general public. Together, we're bringing our wildlife baek from the brink. Our approach ConseNing endangered wild animals and the places where they live is a huge task. We make our limited resources work hard, using scientific eviden¢e lo judge where action's most needed and where we'll have the greatest impact. We work with landowners, local communities, scientists and the public and lake swift, sustainable action before il's loo late. From hedgehogs and slag beetles in our gardens, lo slow lorises in Indonesian rain forests and large cats in Africa, we work with passion lo save them all. We can't do it alone so we use our expertise and experience lo inspire thousands of volunteers lo monitor wildlife and improve their surroundings for nature. Review of the year Ouryear In the UK Nearly one in six of more than ten thousand species assessed in 2023 {16°knl are at risk of being lost from Great Britain. This figure is much higher for some groups with one in four wild lerreslrial mammals threatened. We focus where the need is greatest and where we can have the most impact. These animals and habitats can often be overlooked bul they're vital for a healthy environment. This year we continued to focus our efforts on key mammal species, widespread bul threatened habitats and our wildlife leaders of the future. Hazel domiice PTES continues to lead on annual conservation translocations lo return this native species to its former range as part of the species recovery programme. In June, along with our partners the Common Dormouse Captive Breeders Group, Wildwood Trust, Paignton Zoo, Zoological Society of London, and with funds from Natural England, we released 2 population of 38 hazel dormice into a woodland on the Calke Abbey estate in Derbyshire. In the autumn box check, evidentr of breeding was found, one of our measures of success al a release site. A lolal of 5,434 dormouse records were collected throughout 2023 including 408 litters as part of the National Dormouse Monitoring Programme INDMP). The lolal number of individual box visits during the year was 110,015. The slightly oplimislic results of the data analysis concluded that the estimated annual mean for 2023 is well up on the 2021 and 2022 values for all months except June. with the result that the trendlines are levelling out, a true testament lo the joint concerted efforts of PTES staff, our volunteers and other partnets. In November, al our national domiou5e conference held al the University of Reading. we launched our State of Brltsln's Dormice 2023. This is the third report, following published in 2016 and 2019, giving a comprehensive overview of how one of most threatened mammals is faring. Our conference was well-attended by almost 250 people and chaired by trustee Tony Milchell-Jones. Talks covered a range of topics including Biodiversity Net Gain impacts, hedgerow management and hibernation. PTES contributed our NDMP data for analysis by the UK Centre for Ecology & Hydrology ICEHI on behalf of Defra as part of the English species abundan￿ indicator. The indicator is used lo tmck whether the government is on track lo meet ils targets in the Environment Act 2021. Hedgehogs We18unched an innovative new pilot project to get robust population estimates for hedgehogs and co-occurring mammal species, the National Hedgehog Monitorin9 Programme {NHMPI. The NHMP is a partnership between PTES. the British Hedgehog Preservation Society18HPS}, Nottingham Trent University, Zoological Society of London, London Hogwatch, Durham University, Mammalweb and Conservation Al, paruy supported with generou5 funding from Natural England. The NHMP will generate both national trends and local density estimates of hedgehogs and other species. The pilot is lesling the feasibility of applying a citizen science framework lo a national camera trapping monitoring programme and investigating whether il is possible to use citvzen scientists lo help tag millions of camera trap images in combination with Al tools to filter out blanks and THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES images of humans. Eight hubs monitored 13 siles across the country in 2023 generated over 400,000 sequences consisting of over million images. Work progressed significantly on the development of a National Hedgehog Conservation Strategy INHCSI with the help of the IUCN Conservation Planning Specialist Group. Stakeholders came together from research. farming, government, industry and conservation for workshops in Manchester over four days lo agree a workplan of objecb'ves. Our public engagement campaign Hedgehog Street, run in partnership with BHPS, continues to grow. There are now over 127,200 registered Hedgehog Champions and 178,600 hedgehog sightings on the BIG Hedgehog Map. Various engagement campaigns continue to encourage our volunteers to be active in championing hedgehogs. Many champions wrote lo fencing companies to ask them lo provide options that have 'hedgehog highways, or holes in the panels. We had positive outcomes including a commitment from Jewson lo offer customers gravel boards with features to help hedgehogs. Water voles In 2023, we re￿iVed data from 176 National Water Vole Monitoring Programme INWVMPI sites across 46 counties in England, Scotland, and Wales. 271 surveys were carried out in total, as some siles have multiple transects. Water vole signs Ilatrines, feeding signs, burrows, and sightingsl were detected on 53 siles. Analyses of data collected be￿een 2015 and 2023 showed that more siles sutveyed in 2015 were revisited in 2023 than in any year since 2018. Fewer water vole signs were found per 100m in 2023 compared with previous years. PTES, with additional funding from Natural England, has commissioned two water vole experts, to review the effectiveness of the conservation translocation of water voles. The work involves developing best practice guidelines lo inform future conservation translocations. We were a key partner in the London water vole recovery programmg alongside partners Zoological Society of London. Greenspace Information for Greater London and London Wildlife Trust, funded through the Mayor of London's Rewild London Fund. Invertebrates PTES continues lo engage volunteers through work on other species. We have been running the Great Stag Hunt for over ￿enty years. This year over 14,000 stag beetles, including 200 larvae, were spotted by thousands of volunteers. As expected, southeast England had the highest number of records, with a staggering 2,269 beetles recorded in Hampshire. 2,154 in Greater London and 1,355 in Surrey. We also continued to promote the Stag Beetle Count, a wider European partnership survey that gathers data on how populations are changing year on year. And to encourage all our volunteers to create and map log piles, critical habitsl for stag beetles and other saproxylic species. Restoring landscapes PTES owns and manages a nature reserve on the Isle of Wight. Briddlgsfords Woods. It is one of the few places in the UK where endangered hazel dormi￿ and red squirre15 can both be found. Two specie5 of rare bal, barbaslelles and Bechslein's. also breed there. Consequently, the woodlands have been designated as bolh a Site of Special Scientific Interest and a Special Area for Conservation, giving il the highest legal protection. We are in the process of creating 27 hectares of wood pasture across eight fields, removing the callle for years lo allow thorny scrub such as hawthorn and bramble to grow. We were awarded a grant by the Isle of Wight National Landscape's FIPL (farming in protected landscapes} fund. This will pay for 16 wooden tree cages, made from sweet chestnut and oak felled at Briddlesford Woods. 120 trees and shrubs will be planted inside each wooden cage. Hedger0V￿ are icons of the countyside, supporting a myriad species of wildlife lone study in Devon found over 2,000 species within an 85m stretch of hedge), and acting as a huge asset lo farmers. They protect crops (through beneficial insects that predate crop peslsl. act as wind shelters and host essential pollinator communities, as well as providing shade, shelter and browse for livestock. Our hedgerow work is informing and supporting famiers leam what condition their hedges are in. and providing bespoke management guidance lo restore them. We have also been partnering with Defra to develop guidance for the new Sustainable Farming Incentive {SFII options, and a company called Land App, the Seading mapping software for land management in the UK, used for estate management, habitat baselining for Biodiversity Nel Gain, Countryside Stewardship, to embed our Healthy Hedgerow survey app functionality in their package for landowners. THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Fruit trees age in a unique manner, creating habitats that cannot be replaced or replicated which is why PTES continues to prolecl, map and champion traditional orchards. The orchards themselves are especially important for wildlife because they encompass several different types of habitats, including hedgerows, meadow grassland and woodland. PTES, with partners al the Orchard Network, marked the second annual Orchard Blossom Day in April, with over 50 local events being held nationwide. We also continue to identify and map traditional orchards, providing support ft)r local communities when any are al threat from development. At our traditional orchard nature reserve in Worcestershire. Rough Hill, we carried out extensive scrub control during the year. Bramble had started lo climb up some of the old apple trees and suffocate them,. we cleared the scrub from the trees, repaired the fencing and opened up the grassland. A small herd of Dexler cattle will browse the new bramble shoots and help keep species-rich grassland open. PTES was proud lo be a key partner in the release of the fourth State of Nature report, released in September. We were one of 60 research and conservation organisations that provided data from monitoring schemes and biological recording cenlres, to provide a benchmark for the status of the UK'S wildlife. The alarming figures revealed that on average species abundance in the UK has declined by 190/0 since the 1970s. A quarter of our terrestrial mammals are facing extinction. We continue to support The Rt Hon Chris Grayling, MP, as 'species champion. for hedgehogs in Westminster, and The Rl Hon Hilary Benn, MP, for water voles. Throughout the year PTES staff played a key role contributing to various activities led by Wildlife and Countryside Link, the largest environmental and wildlife coalition in England. We engaged with various policy issues particularly through the Nature Policy, Trees and Woodlands and Convention on Biolog￿Cal Diversity's Global Biodiversity Framework largels groups. PTES staff also played key roles as committee members and as co-chair on IUCN groups, the Inlerregional Committee for Europe and Central Asia IICENCAI and National Committee UK Species Survival Working Group. In addition to our own work protecting species and the habitats they depend on, we also continued to support research and conservation on British species through our UK Mammal Grant and Conservation Internship Grant programmes. We provided funds lo established and budding scientists and conservalionisls al leading universities and wildlife organisalions to answer critical questions and cary out practical work lo.. learn whether bats will use featUTes that mimic those found in veteran trees for roosting and breeding to provide guidance on woodland management practices analyse our National Dormouse Monitoring Programme data to investigate whether shifting baselines have altered the perception of the overall dormouse decline and whether the species should be reclassified as Endangered on the Red List for Britsin's Mammals investigate to what extent hedgehog populations in and around London are connected through analysis of their genetics Iranslocale small populations of red squirrels lo newly established forests in the Highlands to bolster their range throughout Scotland study the impact of roads on small rural hedgehog populations. identifying those most at risk of exlinclion release 22 captIv&b￿d Scollish wildcats lo the Cairngomis as part of landmark efforts to save this charismatic species from extinction within Scotland investigate whether analysing points on footprints can be used lo help us beller understand hazel dormouse numbers as a non-invasive monitoring tool study the data collected on hazel dormice movements to see how they use their woodland habitats release and track choughs into the wild in Kent in areas of restored chalk grassland, bringing the species back lo the county for the first lime in 200 years collect baseline data on diptera al a rewildling site in London to track the success or failure of the management analyse images of the seabed lo identify where invasive species are impacting the recovery of kelp and more efforts need lo be targeted gather critical infomialion on three micromolh species around the UK- Tiree ￿lS1, Affric ￿ltcher and currant shoot borer moth that have critically limited ranges THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Our year around the world PTES continues to invest in grassrool champions that work to protect threatened species and the communities that live alongside them in countries around the world. Our five exeeptional Conservation Partners are working in challenging conditions to conserve lions and other large camivores in Tanzani2, Persian leopards in Iran, slow lorises and other forest animals in Java, snow leopards in Mongolia and saiga antelope in Uzbekistan. We continue to support projects that offer real insights into how to tackle key conservation problems, work that makes a lasting difference, through our Conservatlon Inslght Grant programme. We targeted some of the world's most endangered and some lesser-known threatened species.. Asian giant tortoises and northern river terrapins in India, Cambodian crocodiles, wild dogs in Kenya, gorillas in Cameroon, golden langurs in India, hirola, zebra and giraffes in Kenya, Dinagal moonral and Dinagal hairy-tailed rats in the Philippines, Roach's mouse-tailed dormice in Bulgaria, black and chestnut eagles in Ecuador and black spider monkeys in Colombia. Among our successes were the release of ten Asian giant tortoises into a protected are8 of Nagaland in northeast India, the discovery of critical nesting sites for black and chestnut eagles in Neblina Reserve, Ecuador, the removal of introduced trout and erection of livestock fencing to protect El Rincon stream frogs on a plateau in Patagonia and the continued return of caplive-bred Cambodian crocodiles to the rivers of the Cardamom Mountains. Spreading the word We had almost 1200 news articles featured throughout the media, with over 800 highlighting the work of PTES and over 350 focussing on our hedgehog partnership with BHPS. Most media coverage was the result of 14 press releases issued throughout the year. Our lop stories included the research on our hazel dormouse data indicating that they should be reclassified as Endangered, our Living with Mammals, Nation81 Water Vole Monitoring Programmg and Great stag Hunt survey launches, and a campaign to encourage our Hedgehog Champion community lo promote the development of hedgehog friendly fencing products. We featured on the Today Programme, Farming Today, BBC Radio 4's Inside Science, ITV News, the New Scientist, BBC Countryfile and many more. PTES now has over 110,000 social media followers on X Iformedy Twitter), Facebook, Instagram, Linkedln and YouTube. Our people and partners Our success relies on the help of so many. Volunteers, individual supporters, charitable trusts, expert advisors and our commilled staff and Trustees are all critical to us making 8 Te81 and lasting difference to wildlife. Thousands of volunteers also provide vital contributions to our work at our nature reserves, doing wildlife surveys and supporting us through fundraising events. We have partnerships with many organisations. Notable among these are-. ARC Trust, Bat Conservation Trust, The British Hedgehog Preservation Society, BTO, Buglife, CEH, Common Dormouse Captive B￿ederS Group, Conservation Al, CPRE, Defra, Dorset Mammal Group, Durham University, European Hedgeho9 Research Group, GIGL, Famer 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 Vvight Council. Isle of Wight IUCN CPSG, IUCN NCUK, Natural History Society, Jonathan Cox Associates, Kent Mammal Group, Landscape Therapy, Lincolnshire DoTmouse Group, Local Environmental Records Centres, London Hogwatch, London Wildlife Trust, Mammal Society, Mammalweb, 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, Naturescol Norfolk Wildlife Trust, Nollinghamshire 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, Vincent Imldlife Trust, WanNickshire Wildlife Trust, Wildchiswick, Wildlife and Countryside Link, Wildlife Gardening Forum, Wildlife Trusts, Imldwood, Yorkshire Dales National Park Authority, and ZSL. Thank you to all our partners, our work would not be possible without you. THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Fundraising Our fundraising is led by our own staff, which oversees the income we raise from individual givers (through appeals and legacies), recruiting new supporters, bids lo 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 lo 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 ullim8te gift to us by leaving a legacy so that we can plan ahead with confidence and respond quickly lo need. We received legacies this year from the following estates.. Mrs De Raaf, Mr Farfey Hill, Mrs Appleton, Mrs Perrin, Mrs A Hallam, Mrs A Arkell, Miss N Giebel, Mrs J M Ne21, Mr J A Hicks, Dr W Howells. Miss A Hamilton, Mr B T Lawrence, Miss B Dalby, Mr C Garratt, Mrs L Walson, Miss L Toombs, Mr J Lowe, Mrs S Thomson, Mrs A Jenkins, Ms J Haylock, Mrs P Wright, Mrs G Trevor, Mr R Pattie, Mrs S King, Mrs J Fulcher, Mr E Gwynne, Mr T Linehan, Mrs P Millward, Mrs U Mond, Mrs C Hodgson, Mr J Hicks. Mr J Visser, Miss D Watkiss, Mrs B Richmond. Ms D Cawson. Mr Fielder, Mr E Gwynne, Mr D Poulsom and Miss A Hutchison. During the year we received support from the following trusts and foundations.. The Pauline Bishop Charitable Trust, The Rowl8nd Trust Fund, The Walker 597 Trust, W81ter Guinness Charitable Trust, Stella Symons Charitable Trust, Mrs Mary A Salmon, The Leslie Mary C2rter Charitable Trust, The Mullion Trust, Henocq Law Trust, The Reed Foundation, Mrs Jean S Innes Charitable Trust, The Derek and Clare Stevens Trust, The Tisbury Telegraph Trust, Mr William Eynon, Mitchell TTUSI, Daisie Rich Trust, Keith Ewart Charitable Trust, Sharegift, William Haddon Charitable Trust, David Culforth Charitable Trust, The Derek and Clare Stevens Trust, Mrs Jean S Innes Charitable Trust, Dr A Banister, J & P Benson Trust, Keith Ewart Charitable Trust, Mrs Mary A Salmon and The Antrobus Bewlay Charitable Trust. We continue lo also raise vital funds through both our online shop and our retail charity shop in Egham. Our staff ensure that our online shop is stocked with environmentally conscious products, produced mainly by small UK-ba5ed businesses. Our charity shop in Egham is possible through its rent-free slalus. Thank you lo all to our corporate partners.. Amazon Smile, Amy Turrell Illuslralion, Arta Foods, Aviva Community Fund, Barry M Cosmetics. Big Wild Thought, CJ WildBird Foods Ltd, Easy Fundraising, Gift Republic, Head 2 Heart Books, Hopkin Homes, Kate Prieslman Art, Making A Difference Cards, Ms Penelope Kirk, Mombooks, Original Collages, Recycle 4 Charity, Save Our Wld Isles Fund, Savoo Ltd, Seedball, Tahlia Paige, The Travel Chaptef, Vvlldcare, W'lcllife Drawing and Work For Good Ltd. Our most sincerg thanks go to all our supporters. Forthcoming plans There is much lo look forward to in the coming year. We will continue our work with our partners on the London Water Vole Recovery Programme., as part of those efforts, we will contribute considerable funding lo match mink-control efforts in north London by providing equipment to expand south of the Thames Finalise and launch our National Hedgehog Conservation Strategy Start work on a Hazel Dormouse Conservation Strategy Fund a new Conservation Partner in India, SUPPOrting a champion carrying out vital work for primates in Assam Commission and pul up 15 barn owl nest boxes in our nature resetve, Briddlesford Woods on the Isle of Wight, lo form a key new monitoring sile in the east of the island Build al least 16 tree cages as part of our plans to create 27 hectares of wood pasture at Briddlesford Nature Reserve Grow the reach of our Conservation Internship Programme Further invest in our partnership work with Defra and the statutory agencies as Biodiversity Net Gain is implemented and the Environmental Land Management scheme is further developed Identify opportunities lo work with a greater number of partner organisalions both in the UK and around the wodd THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Financial matters In January, the Trustees agreed a budget for 2023, and discussed the forward commitments beyond, with a prudent eye on expenditu￿ and fundraising potential in response lo the continuing uncertainty and conslrainls posed the economic climate. Expenditure and income continued to be closely monitored throughout the year. Income levels lumed out significantly up on 2022 owing to the loyalty of our supporters, the efforts of our fundraising team and a considerable grant from Natural England lo launch our pilot National Hedgehog Monitoring Programme. The challenge of maintaining and increasing sources of income remained throughout the year, given inffationary pressures. We continue lo invest significantly in recruiting more supporters, including enhancing our fundraising and marketing budget in the expectation of future income. We continue to seek new supporters through social media marketing predominantly. Financial results Income for the year amounted to £1,802,584. an increase on the ptevious yearfs total of £1,365,644. Total expenditure for the year was higher at £1,742,902 compared with £1,509,083 in 2022. Charitable expenditure amounted lo £1,203,57012022 - £969.9621 including direct grants payable of £348,557 (2022 - £181,567). The Trust has committed future gmnl payments of £840,80512022 ~ £261,528) at the year-end. This forward commitment relates to research grants for projects running for more than one year. After accounting for the perfom)ance of inveslmenls, total funds at the year-end amounted to £3,432,55412022 £3,560,389) of which £384,21012022- £403,384) are held for restricted purposes. Financial reserves policy The Trustees aim lo maintain free reserves in unreslricled funds at a level which equates to approximately six months of unrestricted charitable expenditure. The Trustees consider that al this level the Trust can meet its current conservation obligations (excluding grants lo third parties) and be responsible employers in terms of long-lerm 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 currenly stsnds al £840,805. The balance held as unreslricled funds al 31 De￿mber 2023 was £3,048,344 of which £2,138,697 15 regarded as free reserves, after allowing for funds lied up in tangible fi'xed assets. This includes nature ￿SerVeS valued al £499.946. Briddlesford Woods Nature Resetves is 158 hectares of semi-natural ancient woodland, arable farmland, lowland meadow, parkland and grazing marsh. PTES also owns a 4-heclare traditional fruit orchard on the river Avon in Worcestershire. The charity also owns five office units with a cloistered building in Ballersea on a 999 year leasehold. PTES uses of the offices for its own staff and rents the other three units to other charitable organizations including units lo the Bal Conservation Trust. These units and the associated leasehold were valued at £920,000 as of2023. PTES also has an investment portfolio which was valued al £897,062 at December 2023. Investment pollcy The Trustees reserve the right lo exclude companies that carry out activities known to be lo the detriment of the environment. The investrnent policy is reviewed annually. Related party transactions and Trustee. expenses and r¢muneration No Trustees received any rernuneration from the charity during the year. Trustees received reimbursement for expenses between them tolalling £4,56912022 - £2,548). These reimbursements were for travel, accommodation and subsistence expenses. Trustees are required to disclose all relevant interests and register them with the Chief Executive Officer and, in accordance with the Trust's policy, withdraw from decisions where a conflict of interest arises. 10 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE TRUSTEES Basis of preparation and assÈssmÈnt of going concern The Trust conslitules a publiG benefit enlty as defined by FRS 102. The Trustees Gonsider that there are no material uncertainties about the Trust's ability lo continue as a going concern. The most significant areas of adjustment and key assumptions that affect items in the accounts are lo do wlh eslimaling the liability from multi-year grant ccxnmilmenls alld forecasting fundraising revenue given the level of reliance on legacy income. The Trustees have approved continuing investment in fundraising lo allract more individual givers over the next three years. There are SLrfficienl tunds lo meet liabilities for at least 12 months from the signing dale of thè financial stalemenls. Key management personnel remuneration The Trustees consider the Board of Trustees and the Chief Executive OffI￿r as comprising the key managernenl personnel of the charity in ¢harge of diiecting and controllillg the charity and running and operating the charity on a day-lo-day basis. The Conservation Research Manager is also considered key personnel in relation to the allocation of research grants and managing various conservation programmes. The pay of the Chief Executive Officer and all staff is reviewed annually and normally increased in accordance th average earnings. The remuneration is benchmarked with conservation charities of a similar svze and activity to ensure that the remun¢ralion is fair and not out of line with what Is generally paid for similar roles. Risks and uncertainties The economic risk posed by the residual impact of the pandemic, the conflict in Ukraine and the political environment 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 hil by demand making it harder lo make gains. Other risks include data breaches, loss of IT capa¢ily, loss of key staff, inabilty to deploy volunteers. Trustees approve a risk assessment annually lo measure and monitor areas of risk. Auditor PKF Litllejohn LLP have indicated their willingness to continue in office. Disclosure of inforniation to the auditors We, the Trustees of the charity who held office al the dale of approval of these Financial Slalemenls as sel out above each Confirm, so far as we are aware, that.. There is no relevant audit information of which the charity's auditors are unaware,. and We have taken all the steps that we ought lo have taken as Trustees in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Approval This report was approved by the Trustees on 11 SerE 2024 and siqned on ils behalf. Dr Anthony MitchellJones Trustee THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE INDEPENDENT AUDITOR Independent Audltor's Report to the Trustees of People's Trust for Endangered Specles Oplnlon We have audited the financial statements of People's Trust for Endangered Species {the 'charity') for Ihe year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheel, 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 I￿land {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for Ihe audil of the financial statemenls section of our report. We are independent of the charity in accordance with Ihe ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fvlfilled 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 Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is approprsate. Based on the work we have performed, we have not identified any material uncertainties relating lo 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 aulhoiised for issue. Our responsibilities and Ihe 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, olherthan the financial statements and our auditor's report thereon. The trustees are responsible for the other informats'on contained within the report of the trustees. Our opinion on the financial statements does not cover the other infomation and we do not express any fom) of assurance conclusion thereon. Our responsibility is lo 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 othe￿ise 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 malerial misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 12 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE INDEPENDENT AUDITOR Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulalions 2008 require us to report to you if. in our opinion.. the infomation given in the financial statements is inconsistent in any material respect wilh the trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records. or we have not received all the infomiation and explanalions we require for our audit. 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 inteinal 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 relaled to going concern and using the going concern basis of accounting unless the trustees either inlend lo liquidate the charily or to ￿ase operations, or have no realistsc alternative but to do so. Auditor's responsibilities for the audlt of the flnan¢lal 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 misslalement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will a￿ayS 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 Ihe economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-complian￿ 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.. We obtained an understanding of the charity and the sector in which it operates to identify laws and regulations that could reasonably be expected lo have a direct effect on the financial statements. We obtained our understanding in this iegard through discussions with management, industy research, application of cumulative audit knowledge and experience of the sector. We detemiined the principal laws and regulations relevant to the charity in this regard to be those arising from the Charities Act 2011 and Charities {Accounts and Reports) Regulations 2008. We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by Ihe charity with those laws and regulations. These procedures included, but were nol limited to enquiries of management, review of minutes and review of legal corresponden￿. We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition lo the non-rebuttable piesumption of a Tisk of fraud arising from management override of controls, Ihat there is a risk around revenue recognition in relation to income from the legacies and granls. 13 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES REPORT OF THE INDEPENDENT AUDITOR As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited lo.. the testing of journals., reviewing accounting estimates for evidence of bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the nomial course of business. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo 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 con￿alment, 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.or .uklaudilorsres onsibilitieshtt ".Ilwww.frc.or .ukJauditorslaudit- assurancelauditor-s-res onsibilities-for-Ihe-audit-of-the-fi/descri tion-of-the-auditor /oE2 /080'/o99s- res onsibilities-forhtt s.'lkn.frc.or .uklaudilorslaudit-assurancelslandards-and- UIdan￿/20lo-ethlca1- standards-for-auditors- . This description forms part of our auditor's report. Use of our report This report is made solely to Ihe charity's trustees. as a body, in accordan￿ with Part 4 of Ihe 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 stale 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 Ihe charity's trustees as a body, for our audit work, for this report, or for the opinions we have fonned. ////• PKF Littlejohn LLP Statutory Auditor 15 Westferry Circus Canary Wharf London E14 4HD 2024 PKF Littlejohn LLP is eligible for appointment as auditor of the charity by virtue of its eligibilily for appointment as audilor of a company under section 1212 of the Companies Act 2006 14 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023 Restated Total 2022 Unrestricted Restricted Funds Funds Total 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Sale of goods and publications Other income 1,222,988 298,904 27,330 117,415 46,487 89,460 1,312,448 1,019,397 298,904 163,405 27,330 22,912 117,415 113.086 46,487 46.844 Total Income and gndowments 1,713,124 89.460 1,802,584 1.365,644 Expendlture on: Raising funds Charitable activities 539,332 1,094,936 539,332 1,203,570 539,121 969,962 108,634 Totsl expenditure 1,634,268 108,634 1,742,902 1,509,083 Net Incomellexpenditurg} before net unrealisedl realised (losses} on investments 78,856 119,1741 59,682 1143.439} Net unrealisedlrealised Ilossesl I gains on investments 16 1187,5171 1187,5171 1204.892) Net lexpendlturel and movoment in funds 1108,6611 {19.174) (127,8351 (348,3311 Reconciliatlon of Funds.. Total fvnds brought fotward Irestaledl. 19 3.157,005 403,384 3,560,389 3,908,720 Total funds carrled fopNard 19 3.048,344 384,210 3,432,554 3,560,389 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 34 form part of these Financial Statements. 'Reconciliation of funds Funds brought forward al 1SI January 2023 Unrestricted Funds 3,033,981 123,024 3.157,005 Restricted Funds 397,403 5,981 403,384 Total 2022 3,431,384 129,005 3,560,389 As previously staled Prior period adjustment As restated 26 15 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES BALANCE SHEET AT 31 DECEMBER 2023 Restated 2022 Notes 2023 Fixed Assets Tangible assets Investments Investment Property Cash al Slo¢kbiokers 15 16 16 909,647 897,062 920,000 9,991 921,637 937,752 1,166.688 44,890 2,736,700 3,070.967 Current Assets Stocks Debtors Cash al bank and in hand 11,074 566,446 218,018 17,104 399,749 172,700 17 795,538 589,553 Creditors.. Amounts Falling Due Within One Year 18 187.1651 {87,612) Net Current Assets 708.373 501,941 Creditors.. Amounts Falling Due After one Year 18 112,5191 112,5191 Total Net Asset5 3,432,554 3,560,389 Charity Funds Unrestricted funds Restricted funds 19 19 3,048,344 384,210 3, 157,005 403,384 3,432,554 3,560,389 The financial slalemenls were approved and aulhorised by the Board of Trustees on and were signed on i(s behalf by.. 11 .i +-trckn- Dr Anthony Mitchell-Jones Trustee 11 7014 The notes on pages 18 10 34 form part of these Financial Slalements. 16 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 Notes 2023 2022 Cash flow from operating activitie8 21 {116,7731 1156,816} Net cash flow provlded by operating aetivrties 1116,773) 1156,8161 Cash flow from investing activities Payments lo acquire tangible fixed assets Payments lo acquire Investments Receipts from sales of investments Dividends and interest from investments 15 16 16 1425,0121 {264.1741 524,874 352,796 27,330 22,912 Net cash Ilow used In investing activitles 127,192 111,534 Change in cash and cash equivalents In the year 10,419 {45,2821 Cash and cash equlvalents at 1 January 217,590 262,872 Cash and cash equivalents at 31 December 228,009 217,590 Cash and cash equivalent$ consists of: Cash at bank and in hand Cash al Stockbrokers 218,018 9,991 172,700 44.890 Cash and cash equivalents at 31 December 228,009 217,590 The notes on pages 18 to 34 form part of these Financial Stalemenls. 17 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 1. Summary of significant accountlng poli¢ies 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 staled. Basis of Proparation ot Accounts and General Information The charity conslitules a public benefit enlily as defi'ned by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement 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 1021 the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The fi'nancial slalemenls have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the exlenl required to provide a 'true and fair. view. This departure has involved following the Accounting and Reporting by Charities Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 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 undei the historical cost convention. The financial ststements are prepared in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these fi'nanci81 statements are sel out below. These policies have been consistently applied lo all years presented unless otherwise slated. 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 tr) do with estimating the liability from mulli-year grant commitments and forecasting fundmising revenue given the level of relian￿ on legacy income. The trustees have approved investment in a significant fundraising drive lo attract more individual givers over the next four years. Incomo Recognition All incoming resources are included in the Statement of Financial Activities {SoFAI when the charity is legally entitled lo the income, after any performance conditions have been met, when the amount can be measured reliably and when il is probable that the income will be received. Income from donations, including gifts and grants that provide core funding or are of gener81 nature, are recognised on re￿ipl, unless there are conditions allached 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 mel or the fulfilmenl of those conditions is within the control of the charity and il 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 lo the legacy are either in control of the charity or have already been met. On occasion legacies will be notified where il is not possible lo measure the amount expected lo be distributed with sufficient reliability. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from twding activities includes income earned from trading activities lo raise funds for the charity. Income is received in exchange for supplying goods and services in order lo raise funds and is recognised when entl￿ement has occurred. The charity receives grant income which provides funding to support the performance activities. Income from other gonts are recognised al fair value when the charity has enlitlemenl after any performance condition5 have been mel, il is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are defe￿d. 18 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2023 1. Accounting Pollcles leontinuod) Income recognltlon (continued) Investment income is recognised on a re￿1vable 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 lo receive payment is established. Expenditure Rgcognition All expenditure is accounted for on an accruals basis. Expenditure is reeognised where there is a leg81 or constructive obligation lo make payments to third parties, il is probable that the settlement will be required and the amount of the obligation can be measured reliably. 11 is calegorised under the following headings.. Costs of raising funds includes those costs incurred in attracting donations, and those incurred in trading activities that raise funds., 2nd Expenditure on charitable activities includes expenditure associated with the main objectives of the charity and include both direct costs and support costs relating lo these activities. Grants payable lo third parties are included in expenditure on charitable aclivilies. Where unconditional grants are made, these amounts are recognised when a construckn've obligation is created, typically when the recipient is notified that a grant will be made lo them. Where gfftnls are conditional on performance, then the grant is only recognised once any unfulfilled conditions have been mel 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 diteclly represent charitable activities and include officelpremises 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 allribuled to particular headings they have been allocated lo 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 aclivilies. The analysis of these costs is included in note 9. Stocks Stocks are staled al 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 lo ils 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 staled al cost less depreciation. The cost of minor additions or those costing less than £1,000 are not capitalised. Depreciation is provided at rate5 calculated to write off the cost or valuation of fixed assets, less their esb'mated residual value, over their expected useful lives on a straighl-line basis.. Motor Vehicles Fixtures & Fittings Roof improvements Long Leasehold buildings 25% 40 2V, 19 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 t)ECEMBER 2023 1. Accounting Policies {continuedl Inv8stments Publicly traded investments, or those where fair value can otherwise be measured reliably, a￿ measured at fair value al each ba12nee sheet dale, with ch2nges in fair value recognised in 'net gainslllossesl on investments, in the SOFA. Investment property is Carried 81 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 propety. 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 al 31 December 2021. Debtors and croditors receivable I payable within ong year Debtors and creditors with no stated interest rale and ￿CeIvable 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, il is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Funds UnTestricted funds are available for use atthe discretion of the Trustees in furtherance ofthe general objective of the charity and which have not been designated for other purposes. Restricted funds are monies raised for, and their use restricted lo, a specific purpose or donations subject lo 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 lo the financial slatemenls. Employee Benefits en employees have rendered service lo the charity, short-term employee benefits lo which the employees are entitled are recognised at the undiscounted amount expected lo 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 lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010. It thereft)re meets the definition of a charitable company for UK corporation tax purposes. Pyior year adjustment A prior year adjuslmenl has been made lo reflect the transactions previously omilled from the 2022 financial slalements. As a consequence, the 2022 balantts have been reslaled. Further information on the change has been disclosed in Note 26. 20 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 2. Income from donations and legacies Total Restated Total 2022 2023 Legacies Donations Corporate donations 486,760 671,542 154,146 404,816 565,950 48,631 1,312,448 1,019,397 Income from donations and legacies was £1,312.448 12022 £970,766) of which £1,222,988 12022 £964,447) was attributable to unreslricled funds and £89,460 12022 £6,319) was allributable lo resthcted funds. 3. Income from Charitable Actlvities Total 2023 Total 2022 Grants other charitable income 269,961 28,943 152,913 10,492 298,904 163,405 Income from Charitable activities was £298,90412022 - £163,405) of which £298,90412022- £163,405} was allributable lo unreslricled funds and £Nil12022.' £Nill to reslricled funds. 4. Income from invostments Total 2023 Total 2022 Dividends and interest on investments 27,330 22,912 27,330 22,912 Income from investments of £27,330 (2022.. £22,912} was attributable to unrestricted funds. 5. Sale of goods and publications Total 2023 Tots 2022 Pop-up shop sales income Online sales income Other sales income 37,050 69.348 11.017 34,941 52,154 25,991 Totsl sales of products and publications 117,415 113.086 21 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 5. Sale of goods and publications {continuedl Total 2023 Total 2022 Cost of Sales.. Opening Stock Purchases Closing StoGk 17,104 14,801 111,075} 11,595 21,822 {17,1041 20,830 16,313 Surplus on sales actlvity 96,585 96,773 Income and expenditure arising from the sales of goods are wholly allributable to unrestricted funds. 6. Other income Total 2023 Total 2022 Rental Income Miscellaneous Income 44,441 2,046 44,618 2,226 46,487 46,844 Other income was wholly allributable to unrestricted funds. 7. Costs of raising funds Total 2023 Total 2022 Salaries and staff costs Investment fund managers Costs Sales activities Other direct costs Support costs 230,113 10,057 37,226 160,890 101,1)46 216,925 10,057 38,789 173,238 100,112 539,332 539,121 Costs of raising funds was £ 539,332 {2022- £539,121) ofwhich £ 539,33212022- £539,121) was attributable lo unrestricted funds and £Nil12022.. £Nill to restricted funds. 22 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 8. Analysis of expenditure on charttable actlvltles Current Ygar Salarles and staff costs Direct costs Support ost$ Total 2023 Research grants support Research grants Nature reserves Conservation projects Education and public awareness 28,565 16,842 45,407 268,812 89,419 659,033 140,899 268,812 49,912 185,361 37,066 22,665 338,944 19,627 16,842 134,728 84,206 409.801 541,151 252,618 1,203,570 £108,634 of the above costs were attributable lo restricted funds 12022 £36,774) and £1,094,936 12022 £933,188) were attributable lo unreslricled funds. Prior Year Salaries and staff costs Dlrect costs Support costs Total 2022 Research grants support Research grants Nature reserves Conservation projects Education and public awareness 32,839 16,685 49,524 175,742 104,7d3 513,506 126,447 175,742 66,808 102,768 15,282 21,250 277,256 27,739 16,685 133,482 83,426 359,084 360,600 250,278 969,962 23 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 9. Allocation of support costs Current Year Management & Premlses Governanc8 Administration costs costs staff costs Total 2023 Fundraising Research grants Nature reserves Conservation projects Education and public awareness 52,125 8,688 8,688 69,500 43,438 52,988 8,831 8,831 70,651 44,157 7,989 1,332 1,332 10,652 6,658 113,102 18,851 18,851 150,803 94,253 182,439 185,458 27,963 395,860 Support costs are allocated in accordance with the accounting policy on page 19. Prior Year Management & Premises Govemance Administratlon costs costs Staff costs Total 2022 Fundraising Research grants Nature reserves Conservation projects Education and public awareness 46,286 7,714 7,714 61,714 38,571 46,704 7,784 7,784 62,272 38,920 7,122 1,187 1,187 9,496 5,935 100,112 16,685 16,685 133,482 83,426 161,999 163,464 24,927 350,390 10. Analysis of grants Grants tolalling £348,557 is reflective of grants paid. Recipients of grants.. Conservation Insight Grants Grant Recipient Grant TStle and Descrlptlon Grant Amount 7,967 Turtle Survival Alliance Recovering India's most endangered turtle.. northèm ￿Ver terrapin the Sundarbans Conservation ol black and chestnut ea les in Neblina Reserv6, EcuadoF Distribution and conservation ecology ol endangered black headed spider monke s in in Colombia Estirnating the abundan￿ of endernic arboreal poison frogs in the mountain rainforest, Panama Building a road to recover for Asian giant tortoises in Nagaland, Northeast Rainfoiest Concem Neotropical Prim8te Conservation Columbia Panama Wildlife Conservation Turtle Survival Alliance 8,876 930 9.979 M ala Research Centre The Habitat Foundation African Wildlife Foundation ConseTvalion and reslor81ion of African wild do sinKen DNA metabarcodin the food of elusive Roach's mouse-tailed dormice Supporting the creation of Bagyeli gorilla guardians in campo Ma'an Reserve, Cameroon Cambodian crocodile conservation captive breeding and re5ease ro ramme 7,420 7,500 9,821 Fauna & Flora 5,0(M) 24 THE PEOPLE'S TRUST FOR ENDANGERED SPECIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 310ECEMBER 2023 Conservation Partnership grants Grant Reclplent Grant Title and Description Grant Amount 20.000 20,000 Sai a Conservation Allian Snow Leopard Conservation Foundation Little Fireface Project Sai a antelo conservation on Resurrection Island, Aral Sea, Uzbekistan Advancing the local capacity for community-managed snow leopard conservation in Tost Nature Reserve South Gobi Mon Consetvation ol slow loris through education and farrner ernpowemient in Java 20.000 UK mammal research and conservatlon grants Grant Recipient Grant Tltle and Dèscription Grant Amount 2,804 Ba18 Ltd Improving the future for two tr88 dwelling bat species.. barbastelles and Bechstein's bats Captive breeding and releasing Scottish wildcats Royal Zoological Swiety of SGolland Zoological Socièty London Spiie5 Ecology 20.000 Disease risk analysis and health S=surveIllan￿ of Biilish wildlife Water vole conservation translocation review and development of best raclice uidelines National Hedgehog Monitoring Programme National Hedgehog Monitoring Piogramme National Hedgehog Monitoring ProgramrTre 5,Ot)O 16,625 Nottingham Trent Un￿ersItY Matnmal Web Zoologi