REGISTERED COMPANY NUMBER: 01626506 (England and Wales) REGISTERED CHARITY NUMBER: 284656
Strategic Report, Report of the Trustees and Financial Statements For The Year Ended 28 February 2022 for
The Conservation Foundation
The Conservation Foundation
Company/Charity Information
| Registered Company number | 01626506 (England and Wales) |
|---|---|
| Registered Charity number | 284656 |
| Registered office | Vicarage House |
| 58-60 Kensington Church Street | |
| London | |
| W8 4DB | |
| Directors & Trustees | D E Fane |
| E A Kinmouth | |
| N J Zinzan (resigned 30 June 2021) | |
| A J Birch | |
| T N Meadows | |
| L Brazg (appointed 14 May 2021) | |
| D A Shreeve (resigned 28 March 2021) | |
| Accountant and Independent ExaminerLK & Associates Limited | |
| 2A High Street | |
| Thames Ditton | |
| Surrey | |
| KT7 0RY | |
| Bankers | Barclays Bank PLC |
| 1 Churchill Place | |
| London | |
| E14 5HP | |
| CAF Bank | |
| 25 Kingshill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
1
The Conservation Foundation
Report of the Trustees for the Year Ended 28 February 2022
STRUCTURE AND GOVERNANCE
The Trustees present their report and the audited financial statements for the year ended 28th February 2022.
Governing Document
The charity was incorporated by trust deed on 1 April 1982 and registered as a charity on that date.
Recruitment and Appointment of Trustees
As set out in the new Articles of Association (adopted 25 July 2018), the Board of Trustees nominates the Chair of the Trustees. The Board has powers to appoint additional Trustees in-line with skills required.
Trustees are selected according to their knowledge and experience, which must be relevant to the specific needs of the Foundation at the time of recruitment. In particular, the Board considers succession planning and diversity issues.
Induction and Training of New Trustees
New Trustees are invited to meet the existing Trustees and members of the Foundation team and familiarise themselves with the work of The Conservation Foundation. Further training is provided on an on-going basis in line with the identified needs of Trustees.
Public Benefit statement
The Trustees confirm they have complied with Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charities and Public Benefit”.
Risk Management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have assessed the major risks to the charity, particularly those relating to operational areas of the charity, its investments, and finances.
One of the key risks year on year is the potential for lower income to support core costs due to the restriction of activities of grant-making bodies or individual/corporate project sponsors. The Trustees believe that by monitoring reserve levels, ensuring controls exist over key financial systems and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
By prudent management prior to and during the pandemic, the Foundation has sufficient cash reserves for 2022 and beyond. However, the Trustees have assessed that future funding may be at risk in the expected economic slow-down following the pandemic and recognise that it may become increasingly difficult to find funding sources that cover core costs.
As a mitigation, the organisation will continue to manage core costs tightly, with quarterly budget reviews, and adjustments if required. A key expense has been rent for the office in the Royal Geographical Society which we continued to have limited access to during 2021 but for which the Foundation was still required to pay. The Trustees in line with the management team decided it was time to shut down the office permanentlry and move to a virtual office model.
The organisation works continuously to review new means and sources of fundraising and will make this a priority.
Investment Policy
The Conservation Foundation receives income for ongoing projects over a three to five year time horizon and budgets to expend all anticipated income, except for retaining a prudent amount in reserves, including a £60,000 contingency to cover overheads previously agreed by the Trustees. It has no permanent endowment and provides for capital expenditure within its budget.
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The Conservation Foundation
Report of the Trustees
for the Year Ended 28 February 2022
Consequently, the Trustees do not consider it prudent to invest income for the longer term. Its policy is to retain funds as cash and place them on bank deposit at the best rates available.
The Foundation uses Barclays Bank and the Charities Aid Foundation (CAF) Bank and has current and deposit accounts with both.
Remuneration for key personnel
The Board has an ad-hoc Financial Sub-committee of three Trustees who oversee the remuneration of the Executive Director and all those who help to deliver the Foundation’s projects either as project staff (consultants) or volunteers. Currently, the Foundation does not have any employees. The level of remuneration for project staff is varied according to the availability of core funds, but their remuneration can also be derived directly from project fees.
Relationships
The Board recognises the value of working with a range of cross-sectoral partners and will continue to operate in a spirit of inclusivity; seeking new partnerships where appropriate to help create, fund, and deliver new projects in pursuit of the Foundation’s objects. The Board ensures that relationships with suppliers are kept under review to maintain optimum levels of service.
Going Concern
The trustees have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. In particular, the trustees have continuously assessed and managed successfully the risks of operating during the pandemic.
The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charity’s forecast and projections and have taken account of pressures on income given the global pandemic. After making enquiries the trustees have concluded that there is reasonable expectation that the Charity has enough resources to continue in operational existence for the foreseeable future.
The Charity therefore continues to adopt the going concern basis in preparation its financial statements.
REFERENCE AND ADMINISTRATIVE
Trustees
The Trustees in office during the year were:
Ms D E Fane, Chair of the Board of Trustees Mrs E A Kinmouth Mr A J Birch (appointed 25 July 2018) Mr T N Meadows (appointed 25 July 2018) Ms L Bragz (appointed 14 May 2021) Mr D A Shreeve, Executive Director (resigned 28th March 2021) Mr N J Zinzan (resigned 30 June 2021)
Support to the Trustees has been provided by Mr Ian Moore.
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The Conservation Foundation
Report of the Trustees
for the Year Ended 28 February 2022
FINANCIAL REVIEW
The income of the Foundation was £155,151 in the year to 28 February 2022 (2021: £579,285). The Foundation has two wholly-owned subsidiaries which are private companies limited by shares and registered in England and Wales. Financial details for these companies are included in the body of the accounts. The accounts are unconsolidated as the group is ‘small’ according to the Companies Act 2006.
The decrease in income of the Foundation was primarily due to the winding down of a project which started 01 July 2020 funded by the World Resources Institute and managed by the International Geothermal Association to help minimise the environmental risks associated with the exploration for geothermal resources in biodiversity rich locations; the Foundation provides managerial and marketing expertise.
With prudent management during the Covid-19 pandemic it has been possible to maintain the Foundation’s unrestricted funds at £51,075 (2021: £127,323), while restricted funds stand at £113,502 (2021: £94,547).
The Trustees have been careful to ensure that the general reserves of the Foundation should be maintained by controlling overhead spend. Where possible, projects are set up to provide a contribution to the general funds through fixed cost recovery.
Previously, the Trustees have agreed to keep no less than £60,000 in a general reserve for contingencies, as far as is possible given spending commitments, thus accounting for more than the level of annual overhead that might be needed. The unrestricted funds ensure that the Foundation can develop its activities and seek additional funding while continuing to manage existing projects.
Fundraising will continue in the new financial year. The Conservation Foundation does not currently employ third party fundraisers and does not rule out fund raising with the general public.
We follow the Charity Commission’s and the Institute of Fundraising’s guidance on best practice in fundraising.
During the year there were no complaints about fundraising.
Objectives and activities
The Foundation achieves its objects primarily through the creation and management of environmental and conservation projects both in the UK and internationally, funded by grants and sponsorship, and the dissemination of information to improve wider public awareness of environmental matters. The intent of these projects is to benefit the environment and contribute to its management and conservation by working with individuals and local communities, and with commercial and non-commercial partners who may provide ad-hoc funding.
The Conservation Foundation does not award grants per se to other charities, but some elements of incoming resources are for direct disbursement to schemes managed for a fee by Conservation Foundation Enterprises Ltd. (CFEL). These are broadly categorised as Award Schemes, whereby individuals and projects are recognised through small donations for their commitment to environmental endeavour.
Income is generated by fixed cost recovery from some projects to pay for the costs of managing charitable projects and supporting activities. The work is delegated to a small team which consists of the executive director and with assistance from the following part-time staff: Head of Operations, Marketing Assistant, and accountant/Bookkeeper, with support from fee earning consultants and volunteers.
The activities are overseen by a board of trustees who are unpaid, and, apart from the executive director are nonexecutive. The new Articles of Association adopted in 2018 allow for a range of new governance structures to be setup as the Trustees deem appropriate for enhancing the delivery of the Foundation’s objectives. Under the new Articles, the Charity Commission permitted the inclusion of social well-being, as follows:
“The charity’s objects (‘Objects’) are specifically restricted to promoting the conservation and preservation for the public benefit and social well-being of lands, buildings and all forms of animal and plant life of outstanding
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The Conservation Foundation
Report of the Trustees
for the Year Ended 28 February 2022
architectural or historic or scenic or aesthetic or scientific interest.”
The Foundation does not have a formal volunteer programme but uses volunteer assistance according to both need and the opportunity to help individuals with appropriate skills who wish to engage in environmental activities.
Achievements and performance
The Foundation updated its strategic plan in March 2020 and set the following Objectives by 2022, to be:
-
Implementing at least five UK and five developing world, community orientated projects that contribute to achieving the Sustainable Development Goals (SDG).
-
Able to demonstrate its contribution to environmental and community good in measurable ways using qualitative and quantitative impact metrics.
-
A stable organisation with yearly income exceeding expenditure by £25,000 with a smooth cash flow.
-
Operating from a UK office that has a minimum five-year tenancy agreement.
-
Employing one full time Director and other staff as appropriate.
The impact of Covid-19 continued to affect the Foundation’s ability to attract external support for its activities drastically impacting the above objectives. However, throughout the year the Foundation continued to promote its objectives with an ongoing programme maintaining both projects and contacts.
Tools’ Shed : The Foundation agreed with the Lottery to extend the project until 31 December 2021 to enable it to design and facilitate an exit plan to enable collections and giveaways to end by this date. The Lottery funded part of the project was succesfully brought to a close and signed off by both sides in January 2022. Tools Shed programmes in Edinburgh and Hatfield Prisons have been maintaned through money raised by the Foundation and at the same time discussions with social enterprises working with ex-offenders to seek alternative Tools Shed opportunities outside the prison service hve started. Further contacts were also made with the Probation Service.
Native Elm Programme : Contacts and virtual elm events were continued to maintain the Foundation’s unique links with elm experts and enthusiasts allowing the development of a possible publication with Kew Publications along with discussions to involve the Foundation elm records in a new Defra-funded resarch programme with Kew. The Elm records cover 40 years of propagation and distribution to gardens, local authorities, individuals, schools, farms etc throughout the UK. This includes monitoring parent trees.
Restoring Prison Orchards : Although prisons remained closed during Lockdown, work continued by prisons, staff and prisoners to increase potential new sites and restore old orchards supported partly by the charitable donations from trusts and foundations.
Marine Lives: A donation of £5000 enabled the Foundation to research the Foundation’s first awards to young marine scientists at Exeter University. The first Awards will be given out in June 2022 using this donation.
Growing a Better Future : Discussions began with Foresters Financial on a possible scheme to enable its UK operations in specific locations – Birmingham, Chelmsford, Bristol and Sheffield – to become involved in local community projects. Foresters are a mutual organisation founded in 1874 with more than 3 million customers and members in the US, Canada and the UK. Meetings involve staff in California and Calgary, Alberta. The UK Head Office is in Bromley, Kent.
40th Anniversary : Despite Covid restrictions on events and gatherings, the Foundation began to consider opportunities to celebrate its 40th anniversary starting March 2022,
P4G GeoFutures : The project was expected to close in December 2021, but following staff illness was extended in order to finalise the project.
More details and examples of the Foundation’s activities can be found on its website at www.conservationfoundation.co.uk.
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The Conservation Foundation
Report of the Trustees for the Year Ended 28 February 2022
The appointment of Lucy Bragz to the Board of Trustees continues the Foundation’s intention to look for new Board members with appropriate experience in the charitable and business sectors to enhance the management capability of the Foundation and the diversity of the Board. Trustees Nick Zinzan and David Shreeve steped down from the board.
Mr Neil Maddison, appointed in 2019 as part time Head of Operations, and reporting to the Executive Director, continued to manage the day to day activities of the Foundation, oversee the work of various project managers both in the UK and internationally and help to strengthen the governance of the Foundation through a review of key policies and processes.
During Covid 19 lockdown, the Foundation took the opportunity to build up its Social Media presence and recruited a part-time Marketing Assistant. Work continued on improving the accounting systems.
More details and examples of the Foundation’s activities can be found on its website at www.conservationfoundation.co.uk.
In November of 2021 Trustees agreed that a separation should take place between the UK based Conservation Foundation activities and the more complex international projects of the sort managed through Living Earth. Consequently, the process of looking for a new home for Living Earth should begin. Earth Active, a globally experienced team of bespoke ESG advisors, was identified as a possible suitable owner.
Future developments
Moving forward in 2022 the plan is for the The Conservation Foundation to streamline both its operational costs and areas of activity. The Foundation will focus around three programme areas: Unlocking Nature, Heritage Trees and Marine Lives building on the 40 years of experience working in these fields whilst reinforcing the core values of the charity to inspire, enable and celebrate positive environmental action.
The Foundation is also looking to eatablish a new award programme - The Young Conservation Leaders Award aims to support the growth of a new generation of conservation leaders by providing a one-off financial grant to help enable young people to take up learning and development opportunities irrespective of their financial circumstances.
Neil Maddison’s contract as part time Head of Operations, was not renewed at the completion of three years as part of the decision to separate the Conservation Foundation from Living Earth.
TRUSTEES RESPONSIBILITY STATEMENT
The Trustees (who are the directors of Conservation Foundation for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the year then ended.
In preparing those financial statements, which give a true and fair view, the trustees are required to:
-
select suitable accounting policies and then apply them consistently
-
make judgements and estimates that are reasonable and prudent
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Observe the methods and principles in the Charities SORP.
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis
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The Conservation Foundation
Report of the Trustees
for the Year Ended 28 February 2022
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the charity and taking reasonable steps to prevent fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
The trustees confirm that as far as they are aware, there is no relevant audit information of which the charity's auditors are unaware. They have taken all the steps that they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the Board of Trustees on 17 November 2022 and signed on its behalf by:
..................................................................... T N Meadows - Director and Trustee
REGISTERED CHARITY NUMBER: 284656
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The Conservation Foundation
Independent Examiner’s report to the Trustees of The Conservation Foundation
I report to the charity trustees on my examination of the accounts of the company for the year ended 28 February 2022.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the accounts of the company are no required to be audited under Part 16 of the 2006 Act and are eligible for independent examinations, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
Accounting records were no kept in respect of the company as required by section 386 of the 2006 Act: or
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The accounts do not accord with those records; or
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The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Laura Kenyon LK & Associates Limited
2a High Street High Street KT7 0RY
Date: 17 November 2022
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The Conservation Foundation
Statement of Financial Activities (Incorporating the Income and Expenditure Account) for the Year Ended 28 February 2022
| Notes INCOME FROM: Charitable activities Donations and legacies 4 Grants 4 Investment income 3 Total income EXPENDITURE ON Expenditure on Charitable Activities 5 Total expenditure NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 106 - 19 125 76,374 76,374 (76,249) (7,543) (83,792) 127,323 43,531 |
Restricted funds £ 10,000 145,026 - 155,026 136,071 136,071 18,955 7,543 26,498 94,547 121,045 |
28.02.22 £ 10,106 145,026 19 155,151 212,445 212,445 (57,294) - (57,294) 221,870 164,576 |
28.02.21 £ 76,918 502,125 242 |
|---|---|---|---|---|
| 579,285 559,192 |
||||
| 569,383 | ||||
| 9,902 - |
||||
| 9,902 211,968 |
||||
| 221,870 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure has arisen from continuing activities.
The loss for Companies Act 2006 purposes is £57,294 (2021 profit: £9,902).
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The Conservation Foundation (company number: 01626506)
Balance Sheet As at 28 February 2022
| Notes FIXED ASSETS Intangible assets 11 Tangible assets 12 Investments 13 CURRENT ASSETS Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds Restricted funds 16 TOTAL FUNDS |
2,984 267 7 17,751 194,710 |
28.02.22 £ 3,258 161,318 164,576 164,576 51,074 113,502 164,576 |
4,476 293 7 178,422 229,272 |
28.02.21 £ 4,776 217,094 |
||
|---|---|---|---|---|---|---|
| 212,461 (51,143) |
407,694 (190,600) |
|||||
| 221,870 | ||||||
| 221,870 | ||||||
| 127,323 94,547 |
||||||
| 221,870 |
Trustee statements required by the Companies Act 2006
In approving these financial statements, the trustees, who are directors for the purposes of company law, hereby confirm:
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That for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006
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That no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 28 February 2022;
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That the company as a charity is not subject to audit under the Charities Act 2011; and
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That we acknowledge our responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The accounts were approved by the Directors on 17 November 2022 and were signed on their behalf by:
............................................. T N Meadows – Director and Trustee
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The Conservation Foundation
Cash Flow Statement
for the Year Ended 28 February 2022
| Cash flows from operating activities: Net cash provided by operating activities (see note below) Cash flows from investing activities: Purchase of fixtures, fittings and equipment Net cash (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Reconciliation of net income/expenditure to net cash flow from operating activities Net expenditure for the reporting period (per statement of financial activities) Depreciation Loss on disposal of fixed assets Decrease/ (increase) in debtors (Decrease)/ increase in creditors Net cash provided by operating activities Analysis of cash and cash equivalents Cash at bank |
28.02.22 £ (34,547) (15) (15) (34,562) 229,272 194,710 (57,294) 1,532 - 160,672 (139,457) (34,547) 191,710 |
28.02.21 £ 29,792 |
|---|---|---|
| (1,756) | ||
| (1,756) | ||
| 28,036 201,236 |
||
| 229,272 | ||
| 9,902 2,253 1,756 (162,186) 178,067 |
||
| 29,792 | ||
| 229,272 |
11
The Conservation Foundation
Notes to the Financial Statements for the Year Ended 28 February 2022
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with: 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 in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Conservation Foundation meets the definition of a public benefit entity under FRS102.
The financial statement are presented in sterling and are rounded to the nearest pound.
Going concern
The Trustees have considered the company's balance sheet, trading activity and estimated cash flows for a period of at least 12 months from the date these financial statements were signed and have concluded that the charity will continue to be able to meet its obligations as these fall due. The Trustees have also 'stressed' their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of the Covid19 pandemic, alongside further measures that they can take to mitigate the impact.
Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing these financial statements.
Income
Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt, and the amount can be measured with sufficient reliability.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when:-
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The donor specifies that the grant or donation must only be used in future accounting periods, or
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The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Charitable expenditure comprises those cost incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
1. ACCOUNTING POLICIES (continued)
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Furniture & equipment 10% straight line Computer equipment 33% straight line
Intangible fixed assets
Amortisation has historically been provided for on a reducing balance basis at a rate of 33%. This rate is reviewed each year to ensure intangible fixed assets are stated in line with their useful life.
Operating Leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight-line basis over the lease term.
Fund accounting
Unrestricted funds which are general funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Operating Leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight-line basis over the lease term.
2. RESERVE POLICY
Previously, the Trustees have agreed to keep no less than £60,000 in a general reserve for contingencies, as far as is possible given spending commitments, thus accounting for more than the level of annual overhead that might be needed.
The reduced level of overheads mean a lower level of unrestricted reserves are now needed to ensure that the Foundation can develop its activities and seek additional funding while continuing to manage existing projects.
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
3. INVESTMENT INCOME
| Deposit account interest | Unrestricted funds £ 19 |
Restricted funds £ - |
28.02.22 28.02.21 £ £ 19 242 |
|---|---|---|---|
Investment income in 2021 comprised £242 in unrestricted funds.
4. GRANTS, DONATION AND CONTRACT INCOME
| Donations Grants |
Unrestricted funds £ 106 - 106 |
Restricted funds £ 10,000 145,026 155,026 |
28.02.22 £ 10,106 144,026 155,132 |
28.02.22 £ 76,917 502,125 |
|---|---|---|---|---|
| 579,042 |
Donations and grants in 2021 comprised £57,558 in unrestricted and £521,485 in restricted funds.
5. EXPENDITURE ON CHARITABLE ACTIVITIES
| Project expenditure Consulting and project management Premises costs Travel and subsistence Entertainment Loss/(gain) on foreign exchange Depreciation Support costs (see note 6) |
Unrestricted funds £ - 45,193 19,141 - 100 - 1,532 13,450 79,416 |
Restricted funds £ 98,461 42,151 - 1,998 - (9,883) - 302 133,029 |
28.02.22 £ 98,461 87,344 19,141 1,998 100 (9,833) 1,532 13,752 212,445 |
28.02.22 £ 439,099 95,971 15,808 1,756 - - 2,255 6,558 |
|---|---|---|---|---|
| 559,192 |
Expenditure on charitable activities in 2021 comprised £81,856 from unrestricted and £487,527 from restricted funds.
6. SUPPORT COSTS
| DIRECT COSTS Executive director fees General office costs Accountancy |
Support £ 6,000 3,650 - 9,650 |
Governance £ - - 4,102 4,102 |
Total £ 6,000 3,650 4,102 |
|---|---|---|---|
| 13,752 |
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
7. NET EXPENDITURE
Net expenditure is stated after charging/(crediting):
| Net expenditure is stated after charging/(crediting): | ||
|---|---|---|
| 28.02.22 | 28.02.21 | |
| £ | £ | |
| Audit fees | - | 4,650 |
| Deficit on disposal of fixed assets | - | 1,756 |
| Website Development amortisation | 1,492 | 2,204 |
| Depreciation - owned assets | 41 | 49 |
8. TRUSTEES’ REMNERATION AND EXPENSES
The charity has paid consultancy fees and reimbursed expenses to one Trustee - Mr. D Shreeve £14,050 (2021 £12,445).
9. EMPLOYEES’ REMUNERATION
There were no employees during the current or prior year.
10. TAXATION
As a registered charity, The Conservation Foundation is potentially exempt from taxation of income and gains falling within s520 to s537 of Income Tax Act 2007 and s256 of the Taxation of Chargeable Gains Act 1992. No tax charge has arisen in the year.
11. INTANGIBLE FIXED ASSETS
| COST At 1 March 2021 Additions Disposals At 28 February 2022 DEPRECIATION At 1 March 2021 Charge for year Disposals At 28 February 2022 NET BOOK VALUE At 28 February 2022 At 28 February 2021 |
Website Development £ 11,376 - - 11,376 6,900 1,492 - 8,392 2,984 4,476 |
Totals £ 11,376 - - |
|---|---|---|
| 11,376 6,900 1,492 - |
||
| 8,392 2,984 |
||
| 4,476 |
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
12. TANGIBLE FIXED ASSETS
| 13. FIXED ASSET INVESTMENTS There were no investment assets outside the UK. COST At 1 March 2021 Additions Disposals At 28 February 2022 DEPRECIATION At 1 March 2021 Charge for year Disposals At 28 February 2022 NET BOOK VALUE At 28 February 2022 At 28 February 2021 COST At 1 March 2021 Additions Disposals At 28 February 2022 DEPRECIATION At 1 March 2021 Charge for year Disposals At 28 February 2022 NET BOOK VALUE At 28 February 2022 At 28 February 2021 |
Computer Equipment £ 19,859 15 - 19,874 19,859 3 - 19,862 12 - |
Fixtures & Fittings £ 15,632 - - 15,632 15,339 38 - 15,377 255 293 Share in Group Undertakings £ 7 - - 7 - - - - 7 7 |
Totals £ 35,491 15 - 35,507 35,198 41 - 35,239 267 293 Totals £ 7 - - |
|
|---|---|---|---|---|
| 7 - - - |
||||
| - 7 |
||||
| 7 | ||||
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
13. FIXED ASSET INVESTMENTS (CONTINUED)
The company’s investments at the balance sheet date in the share capital of companies include the following:
Conservation Foundation Enterprises Ltd
Registered office: 4 Whitehall Park Road, London, W4 3NE Nature of business: Supporting The Conservation foundation
| Class of share: | % holding | ||
|---|---|---|---|
| Ordinary | 100 | ||
| 28.02.22 | 28.02.21 | ||
| £ | £ | ||
| Aggregate capital and | reserves | 14,272 | 16,688 |
| (Loss) for the year | (2,414) | (1,691) |
Living Earth Limited
Registered office: Vicarage House 58-60 Kensington Church St, C/O Conservation Foundation, London, W8 4DB Nature of business: Educational support services
| Class of share: % holding Ordinary 100 Aggregate capital and reserves (Loss)/profit for the year 14. DEBTORS Amounts owed by group undertakings Prepayments and accrued income Other Debtors 15. CREDITORS: Amounts falling due within one year Trade creditors Amounts owed to group undertakings Accruals and deferred income Other creditors |
28.02.22 £ (1,711) (2,322) 28.02.22 £ 14,000 3,503 248 17,751 28.02.22 £ 20,804 22,794 7,513 32 51,143 |
28.02.21 £ 611 1,075 28.02.21 £ 14,000 164,422 - 178,422 28.02.21 £ 9,416 24,367 156,785 32 |
|---|---|---|
| 190,600 |
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
16. ANALYSIS OF FUNDS
| Year Ended 28 February 2022 Unrestricted funds Restricted funds TOTAL FUNDS Year Ended 28 February 2021 Unrestricted funds Restricted funds TOTAL FUNDS |
At 1 March 2021 £ 127,323 94,547 221,870 At 1 March 2021 £ 158,274 53,694 211,968 |
Incoming Resources £ 125 155,026 155,151 Incoming Resources £ 57,800 521,485 579,285 |
Resources Expended £ (76,374) (136,071) (212,445) Resources Expended £ (81,856) (487,527) (569,383) |
Transfers £ (7,543) 7,543 - Transfers £ (6,895) 6,895 - |
At 28 February 2022 £ 43,531 121,045 |
|---|---|---|---|---|---|
| 164,576 | |||||
| At 28 February 2021 £ 127,323 94,547 |
|||||
| 221,870 |
Description of Funds:
Unrestricted funds
These comprise core funding collected to cover the day to day running of the charity.
Restricted funds
The comprise funds raised for four broad areas:
Living earth - to build the environmental, social and economic resilience of communities in landscapes where there are multiple demands on natural resources, bringing together businesses, donors and investors to develop shared models for sustainable development.
Unlocking nature - to increase biodiversity and wellbeing throughout communities.
Marine lives - to support sea and fresh water research and conservation activities aimed at improving protection and reducing pollution of marine environments.
Heritage trees - to promote the importance and protect the future of Britain’s heritage tree population.
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The Conservation Foundation
Notes to the Financial Statements (continued) for the Year Ended 28 February 2022
17. NET ASSETS BY FUND
| Year Ended 28 February 2022 Tangible Assets Current Assets Creditors - amounts falling due within one year Net Assets Year Ended 28 February 2021 Tangible Assets Current Assets Creditors - amounts falling due within one year Net Assets |
Unrestricted funds £ 2,965 99,252 (51,143) 51,074 Unrestricted funds £ 4,483 165,903 (43,063) 117,661 |
Restricted funds £ 293 113,209 - 113,502 Restricted funds £ 293 241,791 (147,537) 71,954 |
28.02.22 £ 3,258 212,461 (51,143) |
|---|---|---|---|
| 164,576 | |||
| 28.02.21 £ 4,776 407,694 (190,600) |
|||
| 221,870 |
18. RELATED PARTIES
Related party disclosures are included above in the relevant note to the accounts.
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