**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 2023 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|
||A J Birch|
||T N Meadows|
||L Brazg|
||RA Woodbine Houston (appointed 15 June 2023)|
||N G Patkar (appointed 15 June 2023)|
|**Accountant and Independent Examiner**LK & 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 2023** 

## **STRUCTURE AND GOVERNANCE** 

The Trustees present their report and the audited financial statements for the year ended 28 February 2023. 

## **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 the Foundation has sufficient cash reserves for 2023 and beyond. However, the Trustees have assessed that future funding may be at risk due to a continued economic slow-down  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. As part of these adjustments the Foundation continues to work from a virtual office model in order to save costs and has stripped back all but essential operating costs and staff. The aim is to be both as lean and flexible an organisation to see us through what is a period of transition. 

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 three month operating reserve currently set at £10,000 as a contingency to cover overheads previously agreed by the Trustees. It has no permanent endowment and provides for capital expenditure within its budget. 

2 



**The Conservation Foundation** 

## **Report of the Trustees for the Year Ended 28 February 2023** 

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. 

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. 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: 

D E Fane E A Kinmouth A J Birch T N Meadows L Brazg 

3 



**The Conservation Foundation** 

## **Report of the Trustees** 

**for the Year Ended 28 February 2023** 

## **FINANCIAL REVIEW** 

The income of the Foundation was £113,411 in the year to 28 February 2023 (2022: £155,151). 

The Foundation had two wholly-owned subsidiaries during the year 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. Subsequent to the year end the Foundation disposed of it’s shares in Living Earth Limited. 

The continued decrease in income of the Foundation was primarily due to the winding down of a project which started 1 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 it has been possible to maintain the Foundation’s unrestricted funds at £12,805 (2022: £51,075), while restricted funds stand at £142,734 (2022: £113,502). 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 this was agreed to be reduced to £10,000, 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 have historically been 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_ 

4 



**The Conservation Foundation** 

## **Report of the Trustees for the Year Ended 28 February 2023** 

_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** 

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 started in earnest in 2022. Earth Active, a globally experienced team of bespoke ESG advisors, was identified as a possible suitable owner and a process of negotiation took place. 

2022 therefore  represented a period of consolidation for The Conservation Foundation with an effort  to streamline both its operational costs and areas of activity. It was agreed that The Foundation would 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. In addition a new award scheme entitled ‘Young Conservation Leaders Award’ was established. 

During this period The Foundation  has continued to ensure its commitment to maintaining its profile and unique contacts amongst the public, the conservation community, supporters, potential sponsors and associates. It has done this by continuing to manage its website to ensure that this reflects its 40 years plus continuing heritage and current programmes, monitoring daily all its e-mail addresses ensuring that all communications receive a response. Vicarage House maintains an excellent reception service which ensures that all telephone and postal communications receive an immediate response. 

Throughout this reporting period the Foundation raised its profile by launching an awareness of its 40[th] anniversary, an achievement which it plans to continue to promote. 

The consolidation is being managed by the Chair of Trustees and Executive Director to ensure that the Foundation maintains its full exterior profile along with its internal administration which involves its relationship with banks, accountants, Charity Commissioners, Companies House, and other legal and statutory authorities etc. 

The year in question continued to be affected by the constraints caused by Covid, but the list below shows that all our consolidation plans and programmes have been maintained despite the reduction of personnel with the departure of Neil Maddison (Head of Operations)  and Alison Willis (Project) Lead from the team. 

**Heritage Trees:** We have continued to support the research work being undertaken by members of the Ancient Yew Group and continued to deal with enquires concerning the maintenance and protection of ancient yews throughout the country. 

**Elm trees** are experiencing increased interest and the Foundation has been in the forefront of creating elm awareness taking a major role in a research programme being run by Kew Gardens in association with Defra which has involved the Foundation’s 40 years of records, a major conference and the compilation of a new book _Great British Elms_ which records the Foundation’s long association with elm trees which Kew will publish in 2024.  The Director has maintained the Foundation’s t elm profile by being actively involved in Elms4London which aims to plant resistant elms in all London Boroughs. 

The Foundation’s **Mulberry** project, _Morus Londinium_ , continued to attract considerable interest with the Project Director providing media coverage, advice and guiding walks. The Foundation has been seeking to raise further funding to maintain the current programme and update its records in preparation for a possible programme extension. 

The Foundation used its links with **London Plane Trees** to help promote an opera staged at Holland Park in May which featured a song sung to a Plane. 

5 



**The Conservation Foundation** 

## **Report of the Trustees for the Year Ended 28 February 2023** 

## **Achievements and performance (continued)** 

## **Unlocking Nature** 

**Tools Shed** the Prison Service continued to undergo major problems as a result of Covid, however the Foundation maintained its links with Edinburgh and Hatfield prisons and held development meetings with Exeter, Wandsworth, Wormwood Scrubs and the Prison Service. 

**Green Health** the Foundation’s plans for a therapeutic garden at Chelsea Flower Show were shortlisted by Project Giving Back. Unfortunately, after much design and development work and deliberation by the judges our Proposal was not chosen. However, further project development work continues. 

**Awards** The Foundation presented a number of awards throughout the year through its **Young Conservationists** and **Marine Lives** initiatives working in association with Exeter University. It also supported environmental education in partnership with Bloom Education. 

This period saw the completion of the Foundation’s association with Foresters which culminated in a Zoom seminar linking Forester members and Foundation experts. 

2022 also saw a the successful conclusion of the **P4G GeoFutures** project looked to unlock low cost, clean, reliable geothermal power in Kenya and Ethiopia. 

Work continued to ensure future homes for the Foundation’s unique archives at Kent University and Lambeth Palace Library. 

More details and examples of the Foundation’s activities can be found on its website at www.conservationfoundation.co.uk. 

## **Future developments** 

The Foundation continues to look to bring in new Trustees to oversee and support the work it does with two new Trustee’s , Nandita Patkar and Roselle Houston, already having already been appointed.  It will continue its consolidation programme that began last year and look to cement the future of its three main programme areas of Unlocking Nature, Heritage Trees and Marine Lives. The newly established Young Conservation Leaders Award will also take a central role in the future active of The Foundation with another two academic institutions being brought on board for their students to receive awards. In celebration of its 40 years of inspiring, enabling and celebrating positive environmental change The Foundation aims to support the conservationists of tomorrow with particular focus on widening participation and making conservation accessible to all. 

6 



**The Conservation Foundation** 

## **Report of the Trustees** 

**for the Year Ended 28 February 2023** 

## **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 

- 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 

- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis 

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 2006. 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 21 November 2023 and signed on its behalf by: 


..................................................................... T N Meadows - Director and Trustee 


21 Nov 2023 

REGISTERED CHARITY NUMBER: 284656 

7 



## **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 2023. 

## **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: 

1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or 

2. The accounts do not accord with those records; or 

3. 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 

4. 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: 21 November 2023** 

8 



## **The Conservation Foundation** 

**Statement of Financial Activities (Incorporating the Income and Expenditure Account) for the Year Ended 28 February 2023** 

|**Notes**<br>**INCOME FROM:**<br>**Charitable activities**<br>Donations and legacies<br>4<br>Grants<br>4<br>Investment income<br>3<br>**Total income**<br>**EXPENDITURE ON**<br>Expenditure on Charitable Activities<br>5<br>**Total expenditure**<br>**NET INCOME/(EXPENDITURE)**<br>Transfers between funds<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**<br>**funds**<br>**£**<br>8,196<br>-<br>77<br>8,273<br>38,999<br>38,999<br>(30,726)<br>-<br>(30,726)<br>43,531<br>12,805|**Restricted**<br>**funds**<br>**£**<br>9,000<br>96,138<br>-<br>105,138<br>83,449<br>83,449<br>21,689<br>-<br>21,689<br>121,045<br>142,734|**28.02.23**<br>**£**<br>17,196<br>96,138<br>77<br>113,411<br>122,448<br>122,448<br>(9,037)<br>-<br>(9,037)<br>164,576<br>155,539|**28.02.22**<br>**£**<br>10,106<br>145,026<br>19|
|---|---|---|---|---|
|||||155,151<br>212,445|
|||||212,445|
|||||(57,294)<br>-|
|||||(57,294)<br>221,870|
|||||164,576|



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 £9,037 (2022 loss: £57,294). 

9 



**The Conservation Foundation (company number: 01626506)** 

## **Balance Sheet As at 28 February 2023** 

|**Notes**<br>**FIXED ASSETS**<br>Intangible assets<br>11<br>Tangible assets<br>12<br>Investments<br>13<br>**CURRENT ASSETS**<br>Debtors<br>14<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>15<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted funds<br>Restricted funds<br>16<br>**TOTAL FUNDS**|<br>|1,989<br>224<br>7<br>3,465<br>183,612|**28.02.23**<br>**£**<br> <br>2,220<br>153,319<br>155,539<br>155,539<br>12,805<br>142,734<br>155,539||2,984<br>267<br>7<br>17,751<br>194,710|**28.02.22**<br>**£**<br> <br>3,258<br>161,318|
|---|---|---|---|---|---|---|
|||187,077<br>(33,758)|||212,461<br>(51,143)||
||||||||
|||||||164,576|
|||||||164,576|
|||||||51,074<br>113,502|
|||||||164,576|



## **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: 

- That for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 

- 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 2023; 

- That the company as a charity is not subject to audit under the Charities Act 2011; and 

- • 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 21 November 2023 and were signed on their behalf by: 


............................................. 21 Nov 2023 T N Meadows – Director and Trustee 

10 



**The Conservation Foundation** 

## **Cash Flow Statement** 

## **for the Year Ended 28 February 2023** 

|**Cash flows from operating activities:**<br>Net cash provided by operating activities (see note below)<br>**Cash flows from investing activities:**<br>Purchase of fixtures, fittings and equipment<br>Net cash (used in) investing activities<br>**Change in cash and cash equivalents in the reporting period**<br>**Cash and cash equivalents at the beginning of the reporting period**<br>**Cash and cash equivalents at the end of the reporting period**<br>**Reconciliation of net income/expenditure to net cash flow from operating activities**<br>Net expenditure for the reporting period (per statement of financial activities)<br>Depreciation<br>Loss on disposal of fixed assets<br>Decrease/ (increase) in debtors<br>(Decrease)/ increase in creditors<br>Net cash provided by operating activities<br>**Analysis of cash and cash equivalents**<br>Cash at bank|**28.02.23**<br>**£**<br>(11,098)<br>-<br>-<br>(11,098)<br>194,710<br>183,612<br>(9,037)<br>1,037<br>-<br>14,287<br>(17,385)<br>(11,098)<br>183,612|**28.02.22**<br>**£**<br>(34,547)|
|---|---|---|
|||(15)|
|||(15)|
|||(34,562)<br>229,272|
|||194,710|
|||(57,294)<br>1,532<br>-<br>160,672<br>(139,457)|
|||(34,547)|
|||191,710|



11 



**The Conservation Foundation** 

**Notes to the Financial Statements for the Year Ended 28 February 2023** 

## **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. 

Based on these assessments 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:- 

- The donor specifies that the grant or donation must only be used in future accounting periods, or 

- 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. 

12 



**The Conservation Foundation** 

**Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **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. 

13 



**The Conservation Foundation** 

## **Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **3. INVESTMENT INCOME** 

|**Unrestricted**<br>**funds**<br>**£**<br>Deposit account interest<br>78<br>Investment income in 2022 comprised £19 in unrestricted funds.|**Restricted**<br>**funds**<br>**£**<br>-|**28.02.23**<br>**28.02.22**<br>**£**<br>**£**<br>78<br>19|
|---|---|---|



## **4. GRANTS, DONATION AND CONTRACT INCOME** 

|Donations<br>Grants|**Unrestricted**<br>**funds**<br>**£**<br>8,196<br>-<br>8,196|**Restricted**<br>**funds**<br>**£**<br>-<br>105,138<br>105,138|**28.02.23**<br>**£**<br>8,196<br>105,138<br>113,334<br>|**28.02.22**<br>**£**<br>10,106<br>144,026|
|---|---|---|---|---|
|||||155,132|



Donations and grants in 2022 comprised £106 in unrestricted and £155,026 in restricted funds. 

## **5. EXPENDITURE ON CHARITABLE ACTIVITIES** 

|Project expenditure<br>Consulting and project management<br>Premises costs<br>Travel and subsistence<br>Entertainment<br>Loss/(gain) on foreign exchange<br>Depreciation<br>Support costs (see note 6)|**Unrestricted**<br>**funds**<br>**£**<br>-<br>1,667<br>17,662<br>-<br>-<br>-<br>1,037<br>18,633<br>38,999|**Restricted**<br>**funds**<br>**£**<br>79,198<br>3,900<br>255<br>-<br>-<br>-<br>-<br>96<br>83,449|**28.02.23**<br>**£**<br>79,198<br>5,567<br>17,917<br>-<br>-<br>-<br>1,037<br>18,729<br>122,448|**28.02.22**<br>**£**<br>98,461<br>87,344<br>19,141<br>1,998<br>100<br>(9,833)<br>1,532<br>13,752|
|---|---|---|---|---|
|||||212,445|



Expenditure on charitable activities in 2022 comprised £79,416 from unrestricted and £133,029 from restricted funds. 

## **6. SUPPORT COSTS** 

|Executive director fees<br>General office costs<br>Accountancy|**Support**<br>**£**<br>11,189<br>2,671<br>-<br>13,860|**Governance**<br>**£**<br>-<br>-<br>4,869<br>4,869|**Total**<br>**£**<br>11,189<br>2,671<br>4,869|
|---|---|---|---|
||||18,729|



14 



**The Conservation Foundation** 

## **Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **7. NET EXPENDITURE** 

Net expenditure is stated after charging/(crediting): 

|Net expenditure is stated after charging/(crediting):|||
|---|---|---|
||**28.02.23**|**28.02.21**|
||**£**|**£**|
|Audit fees|-|-|
|Deficit on disposal of fixed assets|-|-|
|Website Development amortisation|995|1,492|
|Depreciation - owned assets|43|41|



## **8. TRUSTEES’ REMNERATION AND EXPENSES** 

The charity has paid consultancy fees and reimbursed expenses to one Trustee - Mr. D Shreeve £11,189 (2022 £14,050). 

## **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**<br>At 1 March 2022<br>Additions<br>Disposals<br>At 28 February 2023<br>**DEPRECIATION**<br>At 1 March 2022<br>Charge for year<br>Disposals<br>At 28 February 2023<br>**NET BOOK VALUE**<br>At 28 February 2023<br>At 28 February 2022|**Website**<br>**Development**<br>**£**<br>11,376<br>-<br>-<br>11,376<br>8,392<br>995<br>-<br>9,387<br>1,989<br>2,984|**Totals**<br>**£**<br>11,376<br>-<br>-|
|---|---|---|
|||11,376<br>8,392<br>995<br>-|
|||9,387<br>1,989|
|||2,984|



15 



**The Conservation Foundation** 

## **Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **12. TANGIBLE FIXED ASSETS** 

|**13.**<br>**FIXED ASSET INVESTMENTS**<br>There were no investment assets outside the UK.<br>**COST**<br>At 1 March 2022<br>Additions<br>Disposals<br>At 28 February 2023<br>**DEPRECIATION**<br>At 1 March 2022<br>Charge for year<br>Disposals<br>At 28 February 2023<br>**NET BOOK VALUE**<br>At 28 February 2023<br>At 28 February 2022<br>**COST**<br>At 1 March 2022<br>Additions<br>Disposals<br>At 28 February 2023<br>**DEPRECIATION**<br>At 1 March 2022<br>Charge for year<br>Disposals<br>At 28 February 2023<br>**NET BOOK VALUE**<br>At 28 February 2023<br>At 28 February 2022|**Computer**<br>**Equipment**<br>**£**<br>19,874<br>-<br>-<br>19,874<br>19,862<br>5<br>-<br>19,867<br>7<br>12|**Fixtures &**<br>**Fittings**<br>**£**<br>15,632<br>-<br>-<br>15,632<br>15,377<br>38<br>-<br>15,415<br>217<br>255<br>**Share in**<br>**Group**<br>**Undertakings**<br>**£**<br>7<br>-<br>-<br>7<br>-<br>-<br>-<br>-<br>7<br>7||**Totals**<br>**£**<br>35,507<br>-<br>-<br>35,507<br>35,239<br>43<br>-<br>35,282<br>224<br>267<br>**Totals**<br>**£**<br>7<br>-<br>-|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
|||||7<br>-<br>-<br>-|
|||||-<br>7|
|||||7|
||||||



16 



**The Conservation Foundation** 

## **Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **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|||
|||**28.02.23**|**28.02.22**|
|||**£**|**£**|
|Aggregate capital and|reserves|14,272|14,272|
|(Loss) for the year||(2,414)|(2,414)|



## **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:<br>% holding<br>Ordinary<br>100<br>Aggregate capital and reserves<br>(Loss)/profit for the year<br>**14.**<br>**DEBTORS**<br>Trade debtors<br>Amounts owed by group undertakings<br>Prepayments and accrued income<br>Other Debtors<br>**15.**<br>**CREDITORS: Amounts falling due within one year**<br>Trade creditors<br>Amounts owed to group undertakings<br>Accruals and deferred income<br>Other creditors|**28.02.23**<br>**£**<br>14,922<br>16,633<br>**28.02.23**<br>**£**<br>3,000<br>-<br>217<br>248<br>3,465<br>**28.02.23**<br>**£**<br>22,022<br>8,794<br>2,910<br>32<br>33,758|**28.02.22**<br>**£**<br>(1,711)<br>(2,322)<br>**28.02.22**<br>**£**<br>14,000<br>14,000<br>3,503<br>248<br>17,751<br>**28.02.22**<br>**£**<br>20,804<br>22,794<br>7,513<br>32|
|---|---|---|
|||51,143|



17 



**The Conservation Foundation** 

## **Notes to the Financial Statements** (continued) **for the Year Ended 28 February 2023** 

## **16. ANALYSIS OF FUNDS** 

|**Year Ended 28**<br>**February 2023**<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**<br> <br>**Year Ended 28**<br>**February 2022**<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|**At 1 March**<br>**2022**<br>**£**<br>43,531<br>121,045<br>164,576<br>**At 1 March**<br>**2021**<br>**£**<br>127,323<br>94,547<br>221,870|**Incoming**<br>**Resources**<br>**£**<br>8,273<br>105,138<br>113,411<br>**Incoming**<br>**Resources**<br>**£**<br>125<br>155,026<br>155,151|**Resources**<br>**Expended**<br>**£**<br>(38,999)<br>(83,449)<br>(122,448)<br>**Resources**<br>**Expended**<br>**£**<br>(76,374)<br>(136,071)<br>(212,445)|**Transfers**<br>**£**<br>-<br>-<br>-<br>**Transfers**<br>**£**<br>(7,543)<br>7,543<br>-|**At 28**<br>**February**<br>**2023**<br>**£**<br>12,805<br>142,734|
|---|---|---|---|---|---|
||||||155,539|
||||||**At 28**<br>**February**<br>**2022**<br>**£**<br>43,531<br>121,045|
||||||164,576|



## **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. 

18 



**The Conservation Foundation** 

## **Notes to the Financial Statements (continued) for the Year Ended 28 February 2023** 

## **17. NET ASSETS BY FUND** 

|**Year Ended 28 February 2023**<br>Tangible Assets<br>Current Assets<br>Creditors - amounts falling due within one year<br>Net Assets<br>**Year Ended 28 February 2022**<br>Tangible Assets<br>Current Assets<br>Creditors - amounts falling due within one year<br>Net Assets|**Unrestricted**<br>**funds**<br>**£**<br>1,953<br>44,610<br>(33,758)<br>12,805<br>**Unrestricted**<br>**funds**<br>**£**<br>2,965<br>99,252<br>(51,143)<br>51,074|**Restricted**<br>**funds**<br>**£**<br>267<br>142,467<br>-<br>142,734<br>**Restricted**<br>**funds**<br>**£**<br>293<br>113,209<br>-<br>113,502|**28.02.23**<br>**£**<br>2,220<br>187,077<br>(33,758)|
|---|---|---|---|
||||155,539|
||||**28.02.22**<br>**£**<br>3,258<br>212,461<br>(51,143)|
||||164,576|



## **18. RELATED PARTIES** 

Related party disclosures are included above in the relevant note to the accounts. 

19