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2022-03-31-accounts

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Charity number: 288749

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page
Trustees' Report 1 to 7
Legal and Administrative Information 8
Independent Examiners' Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 19

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report together with the financial statements of The Bentley Wood Charitable Trust (the charity) for the year ended 31 March 2022.

The trustees confirm that the annual report and financial statements of the charity comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) FRS102 "Accounting and Reporting by Charities".

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is managed by the trustees who make strategic decisions and are legally responsible for the management of risks faced by the charity. The day to day management of the wood is delegated to the woodland manager. The trustees seek additional advice from statutory bodies which include the Forestry Commission, Natural England and also Bentley Wood's in-house advisory group of local interested parties. The woodland manager attends all meetings of the trustees and regularly reports and updates the chairman between the quarterly meetings.

Trustees

The trustees who served during the year and up to the date of this report were as follows:

Dr P Woodruffe Mr A G Goddard Mr J Spencer Mr S Brunt

Other changes in trustees who served are as follows:

Mr MC Street - appointed 11 November 2021 Mr J Fisher - appointed 11 November 2021

Trustees are identified and selected by trustees for their knowledge, skills and experience in relevant fields that they can bring to the charity. Specifically these include, forestry, conservation, financial, trust management, governance and local knowledge.

Investment powers

The Trust is subject to provisions of the Trustee Act 2000.

OBJECTIVES AND ACTIVITIES

The Trust was established under a deed dated 31 January 1984.

The Trust's main functions are the maintenance of Bentley Wood SSSI and Upper Frenchmoor Copse on the Hampshire/Wiltshire border close to Salisbury and the investment of Trust monies in Shares, Securities and Personalty at the absolute discretion of the trustees.

The Trust's objectives are to enhance, with assistance of grants from the Forestry Commission and Natural England, the woodland owned by the Trust and to provide an environment where wildlife can thrive and people's quality of life can be enhanced.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

Strategic Report

Achievements and performance

Report from the Chairman of the Bentley Wood Trustees

Last year’s report started with the observation that we can all agree 2020 was a year unlike any other. Well, this year’s report is going to look and sound a little like the 2020 report. The limitations of the Covid pandemic were much reduced though the impact of visitors remained high. The lockdown may have eased, and we have been able to move around with a lot more freedom, but we have retained many of the same challenges that presented themselves in 2020, and Bentley Wood now has a far higher profile as a destination amongst many more people. High numbers of visitors, lots of dog walkers, numbers of incidents where visitors have not adhered to (or even known of!) the guidance that allows both wildlife to thrive and for all visitors to feel welcome and enjoy the extra special environment that Bentley Wood offers, have all been features of 2021. As such it has been far harder to write the report for 2021 than it was for 2020. Time has flown past, and it has sometimes been difficult to clearly recall distinctions between years! The weather though has made a huge difference to the wildlife; 2020 was one of the great butterfly years but the wet summer of 2021 one of the most disappointing.

We have started to address some of the unwelcome parking issues at the congested Winterslow entrance. It is worth stating here that this is not a recognised car park and parking here hampers and occasionally prevents access by the woodland management team and potentially by the emergency services should their help ever be required. We have completed a successful programme of forestry operations and nature conservation operations in spite of the poor weather conditions. We have also been engaged in a rather challenging boundary issue determining a new fenceline with the old sawmill near Forestry Houses; this situation has yet to be fully resolved. Volunteer activities have continued though they have been and continue to be restricted and curtailed by Covid complications. Again, our thanks go to Sue Walker and her team for their hard work in organising tasks and events and tackling the difficulties presented by the shifting sands of Covid regulations and ever impending changes to the rules. Wildlife recording has continued.

A great deal of work was completed on the ambitious ponds project, which was started some years back. The first ponds have been created, with three new ponds excavated in late summer in the Eastern Clearing area. They have now filled with water (unsurprisingly) and, to allow the water to clear, have been fenced against deer to help them establish as wildlife resources. We are in discussions as to whether some native newts and amphibians should be reintroduced to this pond

Another interesting development has been the use of GPS collars to monitor the activity and whereabouts of the Shetland cattle using the Eastern Clearing and Barnridge Meadows. The data should prove really useful in the planned extension of the grazing areas aimed at bolstering the populations of rare butterflies and plants that are largely confined to these open wood pasture enclosures.

We have continued to develop the Environmental Plan for the Trust, to address the sustainability and carbon footprint of our own activities; most progress here has been on searching for genuinely biodegradable and non-plastic tree guards, and on alternative non fossil oils and fuels for machinery use. We have put further work into the major revisions of the Forestry Management Plan and the nature conservation management plan, ahead of their submission in 2022 and 2023 (the Countryside Stewardship scheme ends in December 2022 but of course both plans have to be complementary, integrated and agreed in principle before submission).All these activities have risen in importance given the news coverage highlighting the biodiversity crisis both worldwide and across the UK, and with the profile of climate change raised by the COP26 Conference on Climate Change held in Glasgow in November.

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

Report from the Chairman of the Bentley Wood Trustees (continued)

The coming year will be one of developing plans further, with thought given to making our woodlands more resilient to climate change by establishing or encouraging more mixed native stands, and with more thought given to the extensive beech plantations, which can be prone to disaster and are rather dull biologically. At the moment we are thinking that some areas must be allowed to grow old and grand while others are replaced over time with mixed stands of oak, lime and hornbeam. The bluebells in the area should continue to thrive in the native woodland that emerges from these changes. We intend to retain a core area of tall high forest Douglas fir, providing for both future income for the management of the woods and a source of material for the low carbon economy; timber and fuel and who knows, perhaps feedstocks for the emerging new alternatives to plastics based on plant fibres and cellulose? The careful management, felling and harvesting of trees is a crucial part of moving towards the future low carbon economy.

Supporting these changes, we very warmly welcomed two new Trustees with the appointment of James Fisher and Mark Street. James brings a raft of new talents with expertise in IT, photography and a keen interest in natural history. Mark has long experience as a senior land agent and professional links to both the National Trust, where he manages their Wiltshire and Dorset estate, and to the Wiltshire Wildlife Trust where he is Chairman. James is very much a local, living in Winterslow; Mark is from Wiltshire though living rather further away near Westbury.

Our saddest news records the loss of our bookkeeper Jacquie Elkins, who managed our accounts for some 15 years. Jacquie died earlier in the year after a struggle with cancer.

Much of what was done in 2020 and 2021 needs to continue into the coming year.... developing the forestry and environment plans and working towards their adoption, the work on ponds and recording, managing the visitors and securing our boundaries. But as with last year it remains really important to ensure the work, for Trustees, employees and volunteers alike, remains fun, rewarding and fulfilling. Bentley Wood remains (in my now very extensive experience of UK woods!) one of the most valuable and interesting woods in lowland England and the exciting work ahead makes it even more so

Jonathan Spencer

Chairman, Bentley Wood Trust

Forestry Report:

This, the penultimate year of our Countryside Stewardship Scheme woodland improvement grant, saw a continuation of our ongoing woodland restoration programme and work carried on in much the same vein as previous years.

The harvesting contractors were delayed by the unseasonably wet weather that blighted much of the summer, but, when they did finally arrive, the rains abated and they were able to work continuously for a couple of months in reasonably dry conditions and we went on to have a productive year. In Barnridge Copse we thinned the Corsican pine with the intention of improving air circulation in the remaining trees’ crowns. All the pine stands in Bentley are suffering from Dothistroma needle blight which, left unchecked, kills infected trees. By reducing the humidity in the canopy, we hope to reduce the impact of this fungal disease.

Trees need space both above and below ground to grow into if they are to develop the broad even crowns and extensive root systems that will stand them in good stead in the context of the stresses posed by future climate change and the biological challenges that will inevitably arise in response to it. In Howe Copse West we continued the restoration of the oak plantations by thinning out much of the remnant Norway spruce nurse crop. By and large these oak stands are of very good quality and it is very encouraging to be able to now see the final crop trees. Provided they are regularly, but lightly, thinned over the next 70 years, should go on to make a valuable crop.

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

Forestry Report continued:

Ninety-five per cent of Bentley Wood was planted between 1954 –1962 by the Forestry Commission. Coalpits Copse is one of the few plantations that retains trees that predate the FC planting and is one of my favourites stands. In 1940 it was planted with oak and larch and the Forestry Commission beat this up with further oak, beech, Norway spruce and western hemlock in 1960 and this, together with much volunteer ash, made for an attractive mixture. When I thinned this stand back in 2009 I favoured a lot of the ash at the expense of the beech which had been badly damaged by grey squirrels in the past. Sadly, but inevitably, that same ash has now succumbed to ash dieback and we have had to remove much of it. This however will afford the oak the opportunity to broaden their crowns further and, in the long-term, together with some of the beech in the adjacent stand, will be left to develop old growth characteristics.

In October the harvester moved into Pheru Copse to thin out some of the poorer beech together with more diseased ash alongside the adjacent ride. Beech, being intolerant of drought conditions, is one of a number of species predicted to suffer in the future due to changes in our climate. The thinning created a number of small gaps in which we have since planted oak, lime and hornbeam.

In addition to the wool-based tree shelters I reported trialling last year (so far so good) another plastic-free version is in development. This bio shelter differs radically from previous polypropylene types (which at best were only photodegradable) in that after a few years' service the shelter disintegrates and the fragments are recycled by soil bacteria leaving no harmful substances behind. No plastic litter in the wood and no shelters to collect and recycle? It all sounds too good to be true. We have managed to get hold of a few to trial and we will use them to protect the small group regeneration plantings in Pheru Copse from browsing roe deer.

Protecting young trees with tree tubes isn't always practical or appropriate; naturally regenerated tree and shrub saplings for example don’t respond well to having a shelter clapped over them when they are already habituated to the existing light and humidity outside a shelter, and fallow bucks seem to regard my tree tubes as little more than ‘practice’ when warming up for the rutting season proper - I have lost hundreds of trees (and tubes) in this manner and no longer plant anywhere near known rutting stands. So, on the recommendation of some encouraging trials elsewhere, this year we have started testing a deer deterrent product based on a rainfast emulsified solution of sheep’s fat, which, using a knapsack sprayer, is applied to selected trees twice a year. Deer, apparently, find the smell disgusting and give the tree a wide berth.

You might have seen some curious green trays whilst walking in the woods this year. In partnership with Liverpool University and Public Health England we are hosting a project looking for a relationship between tree mast production and densities of ticks and Lyme disease infection rates. Tree mast has been shown to increase small animal densities which are important blood hosts for larval ticks and consequently increasing host-seeking (questing) nymph density. The trays, which are located in different stand types; oak, beech and Norway spruce, collect the seed as it falls from the trees. Preliminary results suggest it was a good beech mast year but a terrible year for acorns - possibly due to the oak defoliation in early summer when feeding Tortrix moth larvae entirely defoliated individual oak trees in the south of the wood. I don’t think it is a coincidence that very few fallow deer have been seen in the oak stands this winter.

Over the coming year we hope to thin the Douglas fir and red cedar in Richwellsted Copse before moving on to thin the spruce in Dean Copse and Howe Copse East. If the weather is kind, we will also thin the pine east of the Draining Field and continue the group selection felling in the beech. We will also be applying for a further woodland improvement grant which will fund our restoration and conservation programme for another 5 years.

David Lambert

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Advisory Group Evolves into the Bentley Wood Recorders’ Group:

Long ago, in 1989, one of the founder trustees, Ralph Whitlock, brought together a group of people who had expressed interest in the development of the wood and who had knowledge, skills and experience which The Trust badly needed in those early days.

Although the individuals have, in many cases, changed, the format of the group has remained much the same. Members have undertaken a wide variety of tasks from the building of the barn to recording a staggering 1000+ species of moths. The group’s existence gave the Trustees the opportunity to discuss management plans, particularly felling and thinning operations, and to better appreciate any conflicts between forestry operations and conservation interests.

The advent of the pandemic prevented our two or three annual meetings from taking place, although we did manage a meeting outdoors during the summer of 2020. A year later we started to think about an end of season meeting and came to realise that there were many who recorded in the wood who never had the opportunity to come together for discussions and the exchange of ideas. Bird and butterfly transect walkers are good examples. So, in late October 2021 we planned a meeting to which all who helped with the recording effort would be invited. Unfortunately, by this time Covid numbers were once again of concern and we resorted to a Zoom meeting in the interests of safety. Although online discussions proved off-putting to some, it did allow others to participate and indeed to volunteer their help with certain tasks in 2022. It’s never too late to come forward so, if you would like to help or to join in with an activity and learn more, please let us

Our aim is to continue with this new format, inviting as many people as possible who are involved with conservation and recording activities. Ideally, we will try to arrange a spring meeting, to plan projects for the season ahead, and an end of season get together to discover what has been achieved. There is also the possibility of a summer walk in the wood to places of particular interest or concern or where management plans are due to be implemented. These changes in emphasis, and the enhanced role of the group now has in supporting and undertaking the biological recording across the woodland and other land managed by the Bentley Wood Trust, has encouraged us to rename the group the Recorders Group. This more accurately describes its main role and the bulk of its activity and interest. The group of course retains an important role in providing conservation advice and input as we strive to enhance the wood and its wildlife.

Tony Goddard and Pat Woodruffe

Volunteer Group Activities:

At the start of 2021 no volunteer tasks were possible but in late March we managed to squeeze in five tasks in Dean Copse over just nine days, with a Covid-safe limit of ten volunteers per task. All the tasks were, amazingly, over-subscribed so we operated a “names in the hat” policy!

Nothing more was possible until early September when we got going again with a limit of sixteen volunteers. Again, we were often over-subscribed and trying to give everyone a chance to participate. So, we arranged three tasks each month instead of the usual two and managed to clear an area of birch and work on the pond at the Draining Field, clear Lawson cypress near Geoff’s Seat and continue our long-term hazel coppicing project at Dean Copse. In December we started opening up some paths in the Witt Road area. We kept going, despite Covid Omicron, with safely reduced volunteer numbers (ten to twelve per task). Sadly we decided to cancel a planned task between Christmas and New Year because of Covid and the weather. Safeguarding our volunteers and their families and the NHS was paramount.

In the autumn we were also delighted to have been put forward by one of our volunteers, Mark Greco, to receive funding from the local Waitrose “Give a Little Love” scheme. We were awarded an amazing £1000 – which has allowed us to buy more hand and specialised tools, work and pond gloves, and safety equipment. It also funded two St John Emergency First Aid Training Courses for leaders Tony and Sue.

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

Volunteer Group Activities continued:

The Waitrose funding also allowed us to set up a Conservation Volunteer Reward/Award Scheme with an enamel badge awarded after ten tasks and certificates of appreciation after 25, 50, 75, 100, 125 and 150 tasks! By the end of the year we’d awarded fourteen badges and nine certificates – six of them for 25 tasks. Bill Symonds received his 50 tasks certificate, Phil Read his 75 tasks certificate and Dave Lawman his 100 tasks certificate! There are many more badges and certificates to award as we see volunteers during 2022.

A massive thank you to all forty regular volunteers who’ve “put their names in the selection hat” and turned up again and again. We’ve also been delighted that ten new volunteers joined the group over the autumn and winter and swelled the happy throng!

Getting double-vaccinated, boosted and using lateral flow tests, plus a thorough Covid risk assessment, followed at all times, allowed us all to enjoy working safely and happily and give lots back to the lovely, special Bentley Wood!

Here's hoping that we can all continue to work through 2022. If anybody is interested in joining in, just get in touch.

Sue Walker and Tony Goddard

Friends of Bentley Wood Chairman’s report:

At last! We now do seem to be getting back to something like normal, albeit cautiously. Last year’s (first ever) Zoom AGM seems an age away!

This year, therefore, we have planned for you a full set of events, extending over the whole of 2022. You will have received your programme showing the return of the Bean Pole Day, the Early Morning Birdsong Walk, the Pop up Café, the Moth Morning, the Summer Barbeque, the Bats evening and, of course, both of the Drive Thru’s as well as the AGM and Christmas Party. The 2021 Christmas party was held at lunchtime in the Winterslow Village Hall. I know that change to the programme was well received, so we will be continuing that. Please come and support these events!

I have, as always, a huge number of people to thank. First, a massive thank you to all 40 of our wonderful volunteers who have, under Sue and Tony, continued their activities, despite the pandemic restrictions, and done a superb job. Over the past year they have completed tasks in Dean Copse and the Draining Field as well as work around Geoff’s Seat and at Witt Road, to name but a few projects – well done everyone, we are very grateful. In addition, Marc Greco succeeded in obtaining a Waitrose Award for the Volunteers under their “Give a Little Love” Scheme – a great achievement. Many of you will now also have received the badges that Sue and Tony designed as a mark of your hard work.

Thank you also to the Committee who, despite lockdown, managed to deliver the Summer Barbeque, the Autumn Drive Thru, and the Christmas party. These events could not have taken place without the willing help and skills of Chris Loach, Janet Stevens, Carole Broadbent and Gordon Verity who variously baked cakes, made sandwiches and sorted out the bar! Equal thanks go to Ailsa McKee and to James Macpherson who together organised the ever successful Fungus Foray (I learned a great deal!) as well as to Tessa Fisher who organises the Riding Permits in the Wood.

So, it has not been a year of dead stop. That is true also of some of the changes in the management of the Wood that have seen their genesis this year. Jonathan Spencer, as the new Chair of the Trustees, outlined at the Christmas Party that Bentley Wood is one of the largest and most important ancient woodlands in southern England. He explained that it is important as a nature reserve, as a place of recreation and enjoyment, as a source of timber and wood fuel and as a model for other communities and conservation initiatives elsewhere. The SSSI and Forestry Management Plans are under review. The Trustees plan to upgrade the woodland management to expand its already significant contribution to nature conservation with particular reference to the rarer special species in the Wood, whilst also supporting both timber production and wood fuel production in support of the emerging low carbon economy. Your support for those changes is key. In addition, three new ponds have been dug over this last year as part of the Ponds Project and £1,000 of FOBW funds invested in them. You will also have seen the continued arrival of new benches within the Wood and the smart new

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

Friends of Bentley Wood Chairman’s report continued:

On a related front, I made representations to the Planning inspectorate, on behalf of you all that Bentley Wood and Frenchmoor Copse be included in the new local Neighbourhood Plan and be accorded “Treasured Asset” status as a further way of safeguarding the Wood for future generations. Those representations have been accepted. Accordingly, if the Referendum on that Plan is successful, then the Wood will have that Planning status for years to come.

A full report on the Trust’s ac�vi�es for the year is available to all in the form of ‘Bentley Wood Nature Notes 2021’ from the secretary.

Financial Review (including reserves policy)

The attached financial statements show the current state of the finances which the trustees consider to be sound. During the year it has been the trustees’ objective to achieve the greatest possible revenue from sustainable forestry activities such as thinning and felling and to obtain the maximum grant aid from appropriate sources to achieve the Trust’s objectives. The financial management policy for the year is driven by the working cash flow budget produced by the forest manager in consultation with the trustees and the trustees’ bookkeeper. This cash flow budget aims to identify income from grants and planned sustainable timber harvesting and the expenditure involved in timber production and conservation works. The trustees aim to achieve a cash flow budget that breaks even. The forest manager, working closely with the bookkeeper, manages the cash flow budget and presents quarterly budget reports, collated by the bookkeeper, to the trustees at quarterly meetings. In addition to quarterly meetings the woodland manager frequently reports and updates the i di id ll h h h

In order to assure sustained and sufficient annual revenue to support the Trust's conservation activities in the long term, the Trustees have adopted a strategy of building and maintaining a strategic reserve. In 2009, the Trustees set a target for this reserve of £1M. This figure was based principally on an estimate of income required to be generated from the reserve to support annual conservation expenditure should Government grants be significantly reduced, a situation considered to be likely in the current climate. An additional element was included to provide cash-flow protection for (a) timber and firewood net income variations in future years, and (b) the possible impact on costs and revenue of epidemic tree diseases, feared to pose an increasing risk. To maintain the reserve's capacity to generate required levels of annual income as inflation reduces its value over time, the reserve target has been inflated by a corresponding amount year by year. An additional aim developed this year by the Trustees is to protect the integrity of the habitat in Bentley Wood by ensuring the sympathetic management of a buffer zone around the wood. This may be by cooperation with neighbouring landowners but also possibly by land acquisition. To enable the Trustees to act quickly should appropriate land become available an addition to the strategic reserve target has been made. A further increase to the strategic reserve target has been made to allow for rising costs that are affecting our operations. The Trustees have therefore increased the target from £1.2M to £1.7M. During the year the strategic reserve increased from £1.426M at 31st March 2021 to £1.546M at 31st March 2022.

The Trustees’ policy is to continue to manage its finances so as to achieve budget surpluses when it is reasonably able to, thereby building the strategic reserve to the level required. Taking into account inflation pressures and other risk factors, the level of the reserve will continue to be reviewed from time to time.

Plans for Future Periods

December 2022 marks the end of our current Countryside Stewardship grant. Over the course of the year, we will be completing the application process that will secure funding for a further five years enabling the Trust to continue with the restoration of a significant proportion of Bentley Wood and Upper Frenchmoor Copse by the removal of exotic tree species and the promotion of native broadleaves. An element of this work will involve pushing back ride edges to create glades and increase habitat for those rare species that make Bentley Wood such a special place. The Trust also aims, with the help of the Volunteer group, to reinstate further areas of hazel coppice to the benefit of wildlife across the woodland and there are also plans to create more rain fed wildlife ponds. Also, with the help of the volunteers and local school children, canopy gaps arising from storm damage will be replanted with native broadleaves and shrubs to diversify both the species mix and age structure of the woodland.

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF TRUSTEE'S RESPONSIBILITIES

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the Board of Trustees

Mr A G Goddard Date:………………………………….. 10 January 2023 Trustee

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THE BENTLEY WOOD CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

Charity Number 288749
Registered Office 55 Elmwood Avenue
Fordingbridge
Hampshire
SP6 1DL
Trustees Dr P Woodruffe
Mr A G Goddard
Mr J Spencer
Mr S Brunt
Mr M Street
Mr J Fisher
Key management David Lambert
Bankers HSBC Bank plc
27 High Street
Ringwood
Hants
BH24 1BE
Investment managers Sanlam Wealth Planning UK Ltd
Monument Place
24 Monument Street
London
EC3R 8AJ
Independent examiner Nick Jones FCCA
Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

INDEPENDENT EXAMINERS' REPORT TO THE MEMBERS OF

THE BENTLEY WOOD CHARITABLE TRUST

I report on the accounts of the charity for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I confirm that I am qualified to undertake the examination because I a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Nicholas Jones FCCA Chartered Accountants Fawcetts Windover House St. Ann Street Salisbury SP1 2DR

Date:………………………………………………….. 10 January 2023

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
Funds 2022 2021
Unrestricted Restricted Endowment Total Total
Note £ £ £ £ £
INCOME AND ENDOWMENTS FROM:
- -
Donations and legacies 1,200 1,200 1,870
Charitable activities 2 120,324 - - 120,324 254,255
Investments 3 18,474 - - 18,474 16,190
Total income 139,998 - - 139,998 272,315
EXPENDITURE ON:
- -
Investments - management fees 6,253 6,253 5,196
Charitable activities 4 134,336 - 16,065 150,401 187,503
-
Total expenditure 134,336 22,318 156,654 192,699
Net gains/(losses) on investments 12 - - 50,915 50,915 172,158
-
NET INCOME/(EXPENDITURE) 5,662 28,597 34,259 251,774
Transfers between funds 12 (75,000) - 75,000 - -
NET MOVEMENT IN FUNDS (69,338) - 103,597 34,259 251,774
RECONCILIATION OF FUNDS:
-
Total funds brought forward 204,504 3,141,311 3,345,815 3,094,041
TOTAL FUNDS CARRIED FORWARD 135,166 - 3,244,908 3,380,074 3,345,815
----- End of picture text -----

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above.

The notes form part of these financial statements

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DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST BALANCE SHEET

AS AT 31 MARCH 2022

----- Start of picture text -----
2022 2021
Note £ £
FIXED ASSETS
Tangible fixed assets 7 1,747,092 1,764,849
Investments 8 1,546,177 1,426,515
3,293,269 3,191,364
CURRENT ASSETS
Stock 600 8,456
Debtors 9 3,261 111,089
Cash at bank and in hand 108,094 60,284
111,955 179,829
CREDITORS: AMOUNTS DUE WITHIN ONE YEAR 10 25,150 25,378
NET CURRENT ASSETS 86,805 154,451
NET ASSETS 3,380,074 3,345,815
FUNDS
Unrestricted funds 12 135,166 204,504
Restricted funds 12 - -
Endowment funds 12 3,244,908 3,141,311
TOTAL FUNDS 11 3,380,074 3,345,815
----- End of picture text -----

The financial statements were approved and authorised for issue by the Board of Trustees on …………………………………... 10 January 2023 and were signed on its behalf by:

Mr A G Goddard Trustee

The notes form part of these financial statements

11

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention with the exception of listed investments which are included on a market value basis, and in accordance with applicable Accounting Standards in the United Kingdom, the Statement of Recommended Practice (SORP) FRS102 "Accounting and Reporting by Charities" and the Charities Act 2011.

1.2 INCOME

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Dividends on listed investments are recognised when the underlying security is quoted as ex-dividend.

Revenue in respect of timber and venison sales is recognised at the date of delivery to the customer.

1.3 EXPENDITURE

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure includes attributable VAT which cannot be recovered.

1.4 ALLOCATION AND APPORTIONMENT OF COSTS

All costs are allocated between expenditure categories in the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis.

1.5 FUND ACCOUNTING

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

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund where allowable. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

All fixed assets are initially recorded at cost.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Land and woodlands not depreciated Land and woodlands - infrastructure 5% straight line basis Buildings 10% straight line basis Motor vehicles 25% straight line basis Computers and equipment 25% straight line basis

12

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (continued)

1.7 INVESTMENTS

Listed investments held in a portfolio are recognised initially at fair value which is normally the transaction price excluding transaction cost. Subsequently, they are measured at fair value with changes recognised in net gains/(losses) on investments in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the SoFA.

1.8 STOCK

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.9 FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Debtors are measured at their recoverable amount. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.10 TAXATION

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

13

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2. CHARITABLE ACTIVITIES - INCOME

Unrestricted
£
Forestry income
125,748
Venison sales
1,553
Grants received
(17,177)
Rents received
10,200
120,324
VESTMENT INCOME
Unrestricted
£
Dividends from equities
18,471
Bank interest
3
18,474
HARITABLE ACTIVITIES - EXPENDITURE
Unrestricted
£
Wages (note 5)
50,666
Contract forestry work
24,722
Conservation work
3,631
Planting
1,381
Extraction
-
Road maintenance
2,628
Management fees
-
Repairs
21,267
Rental expense
1,558
Depreciation
11,486
(Profit)/loss on disposal of asset
(1,973)
Subscriptions & membership fees
98
Support costs
11,569
Travel expenses
1,363
Miscellaneous expenses
3,403
Trustees' expenses
285
Accountancy fees
2,225
Bank charges
27
134,336		 Restricted
£
-
-
-
-
-
Restricted
£
-
-
-
Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
£
-
-
-
-
-
Endowment
£
-
-
-
Endowment
£
-
-
-
-
-
-
-
-
-
16,065
-
-
-
-
-
-
-
-
16,065		 Total
2022
£
125,748
1,553
(17,177)
10,200
120,324
Total
2022
£
18,471
3
18,474
Total
2022
£
50,666
24,722
3,631
1,381
-
2,628
-
21,267
1,558
27,551
(1,973)
98
11,569
1,363
3,403
285
2,225
27
150,401		 Total
2021
£
97,313
1,488
145,254
10,200
254,255
Total
2021
£
16,031
159
16,190
Total
2021
£
49,443
13,925
13,980
1,820
450
24,990
4,000
12,839
4,609
27,088
-
680
20,580
733
10,068
347
1,951
-
187,503

3. INVESTMENT INCOME

4. CHARITABLE ACTIVITIES - EXPENDITURE

14

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

5. STAFF COSTS

Staff costs during the year were as follows:
Charitable Activities:
Salaries and wages
Employers' National Insurance costs
Pension contributions
The above also represents the key management personnel remuneration.
The average monthly number of employees during the year was as follows:
Management		 2022
£
46,798
1,238
48,036
2,630
50,666
2022
No.
1		 2021
£
45,710
1,103
46,813
2,630
49,443
2021
No.
1

There were no employees who earned in excess of £60,000 per annum or more (including taxable benefits) during the year (2021: £nil).

6.
TRUSTEES' REMUNERATION AND EXPENSES
Trustees' expenses reimbursed (delivery costs/travel)
Number of trustees receiving expenses		 2022
£
285
1		 2021
£
347
1

With the exception of the above, none of the trustees received any remuneration in respect of their duties as trustees during the year (2021: £nil).

There were no other related party transactions during the year.

15

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

7. TANGIBLE FIXED ASSETS

Land &
woodlands
£
Cost
At 1 April 2021
1,673,765
Additions
-
Disposals
-
At 31 March 2022
1,673,765
Depreciation
At 1 April 2021
42,173
Charge for the year
3,670
On disposals
-
At 31 March 2022
45,843
Net Book Value
At 31 March 2022
1,627,922
At 31 March 2021
1,631,592
8.
FIXED ASSET INVESTMENTS
Movement in market/fair value:
Market/fair value at 1 April
Acquisitions at cost
Disposal proceeds
Realised gains/(losses) on disposals
Unrealised gains/(losses) on revaluation
Market/fair value at 31 March
Cash held as part of portfolio
Total investments
Historical cost
Analysis of investments:
Listed investments: UK quoted shares
UK cash held as part of portfolio
UK investment property		 Motor
Buildings
vehicles
£
£
180,720
28,566
-
-
(2,798)
(15,250)
177,922
13,316
65,456
26,707
16,233
83
-
(13,723)
81,689
13,067
96,233
249
115,264
1,859
Investment
Investment
portfolio
property
£
£
981,015
377,613
283,505
-
(212,401)
-
21,210
-
29,705
-
1,103,034
377,613
65,530
-
1,168,564
377,613
1,025,783
377,613
Unrestricted
Endowment
£
£
-
1,103,034
-
65,530
-
377,613
-
1,546,177
Funds		 Computers &
equipment
£
49,152
14,118
-
63,270
33,018
7,564
-
40,582
22,688
16,134
2022
£
1,358,628
283,505
(212,401)
21,210
29,705
1,480,647
65,530
1,546,177
1,403,396
2022
Total
£
1,103,034
65,530
377,613
1,546,177		 Total
£
1,932,203
14,118
(18,048)
1,928,273
167,354
27,550
13,723
-
181,181
1,747,092
1,764,849
2021
£
975,288
456,926
(245,744)
38,136
134,022
1,358,628
67,887
1,426,515
1,274,308
2021
Total
£
981,015
67,887
377,613
1,426,515

In the opinion of the trustees the market value of the investment property remains unchanged as at 31 March 2022.

16

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
9. DEBTORS 2022 2021
£ £
Trade debtors - 20,733
Prepayments and accrued income 3,261 90,356
3,261 111,089
10. CREDITORS: AMOUNTS DUE WITHIN ONE YEAR 2022 2021
£ £
Trade creditors 3,635 21,021
Accruals and deferred income 5,025 2,400
Social security and other taxes 16,490 1,957
Other creditors - -
25,150 25,378
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Net current
Fixed assets Investments assets Total
£ £ £ £
-
Unrestricted general funds 20,824 86,805 107,629
- -
Unrestrcted designated funds 27,537 27,537
Restricted funds - - - -
Endowment funds 1,698,731 1,546,177 - 3,244,908
Net Assets at the end of the year 1,747,092 1,546,177 86,805 3,380,074
Comparative balances for the year ended 31 March 2021:
Net current
Fixed assets Investments assets Total
£ £ £ £
-
Unrestricted general funds 18,846 154,451 173,297
- -
Unrestricted designated funds 31,207 31,207
Restricted funds - - - -
Endowment funds 1,714,796 1,426,515 - 3,141,311
Net Assets at the end of the year 1,764,849 1,426,515 154,451 3,345,815
----- End of picture text -----

17

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

12. FUNDS
Balance at
01/04/2021
Incoming
resources
Outgoing
resources
£
£
£
Unrestricted funds
General fund
173,297
139,998
(130,666)
Designated fund
31,207
-
(3,670)
204,504
139,998
(134,336)
Restricted funds
-
-
-
Endowment funds
Expendable endowment
3,141,311
-
(21,261)
Total funds
3,345,815
139,998
(155,597)
Comparative balances for the year ended 31 March 2021:
Balance at
01/04/2020
Incoming
resources
Outgoing
resources
£
£
£
Unrestricted funds
General fund
243,470
272,315
(167,489)
Designated fund
34,877
-
(3,670)
278,347
272,315
(171,159)
Restricted funds
-
-
-
Endowment funds
Expendable endowment
2,815,694
-
(21,540)
Total funds
3,094,041
272,315
(192,699)		 Gains/
(losses)
£
-
-
-
-
49,858
49,858
Gains/
(losses)
£
-
-
-
-
172,158
172,158		 Transfers
£
(74,999)
-
(74,999)
-
74,999
-
Transfers
£
(174,999)
-
(174,999)
-
174,999
-		 Balance at
31/03/2022
£
107,630
27,537
135,167
-
3,244,907
3,380,074
Balance at
31/03/2021
£
173,297
31,207
204,504
-
3,141,311
3,345,815

General fund: This represents funds which have been accumulated for the general purposes of the charity.

Designated fund: This has been created in respect of fixed assets which were grant funded. The annual depreciation of the assets is charged against this fund.

Restricted fund: No restricted fund was received in the year.

Endowment fund: The expendable endowment represents the capital of the Trust established by the Trust Deed dated 31 January 1984 plus further funds held in the investment portfolio. Income on the endowment investments is treated as unrestricted income.

18

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

13. COMPARATIVE BALANCES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM:
Transfers between funds
TOTAL FUNDS CARRIED FORWARD
Investments - management fees
Total expenditure
NET INCOME/(EXPENDITURE)
Total funds brought forward
Charitable activities
Investments
Total income
RECONCILIATION OF FUNDS:
EXPENDITURE ON:
NET MOVEMENT IN FUNDS
Net gains/(losses) on investments
Charitable activities		 Unrestricted
£
256,125
16,190
272,315
-
171,159
171,159
-
101,156
(174,999)
(73,843)
278,347
204,504		 Funds
Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
£
-
-
-
5,196
16,344
21,540
172,158
150,618
174,999
325,617
2,815,694
3,141,311		 2021
Total
£
256,125
16,190
272,315
5,196
187,503
192,699
172,158
251,774
-
251,774
3,094,041
3,345,815

19

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 MARCH 2022

The following pages do not form part of the statutory financial statements.

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
£ £
FORESTRY
Forestry income
Sales - conifers and hardwood pulp and permits 124,689 97,313
Forestry Commission Grant (50%) 34,747 29,291
Forestry Commission Grant (50%) - over accrued (43,336) 43,336
Venison sales 1,553 1,488
117,653 171,428
Forestry expenses
Contract forestry work 14,686 8,221
Deer stalking (contract forestry) 6,583 5,704
Wages 25,336 24,749
Repairs 1,314 66
Road maintenance 2,628 24,990
Planting 1,381 1,820
Extraction - 450
-
Depreciation 6,180
Travel 396 367
Subscriptions and membership fees - 60
Miscellaneous 2,154 6,699
Support Costs
-
Photocopying, printing and office expenses
54,478 79,306
Forestry net surplus 63,175 92,122
CONSERVATION
Conservation income
Forestry Commission Grant (50%) 34,747 29,291
Forestry Commission Grant (50%) - over accrued (43,336) 43,336
Other income -
(8,589) 72,627
Conservation expenses
Wages 15,202 14,849
-
Management 4,000
Conservation work 7,084 13,980
Travel expenses 237 220
Repairs 19,954 2,292
- -
Planting
Miscellaneous 638 1,899
Support Costs
-
Photocopying, printing and office expenses
43,115 37,240
Conservation net surplus/ (deficit) (51,704) 35,387
OPERATING SURPLUS CARRIED FORWARD 11,471 127,509
----- End of picture text -----

DocuSign Envelope ID: 91D5CFCD-AA16-4B1C-9C64-3E8E0D0867FE

THE BENTLEY WOOD CHARITABLE TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2021 2020
£ £
OPERATING SURPLUS BROUGHT FORWARD 11,471 127,509
RENTAL
Rental income
Rental income 10,200 10,200
Rental expenditure
Rental expenditure 1,558 4,609
Net rental surplus / (deficit) 8,642 5,591
ADMINISTRATION OF THE TRUST
Administration income
Dividends and interest received 18,474 16,190
Other income 2,260 1,870
20,734 18,060
Administration expenses
Wages 10,128 9,846
Depreciation 27,551 20,907
Accountancy fees 2,225 1,951
Subscriptions and membership fees 98 620
Travel expenses 730 147
Trustees' and volunteers' expenses 285 347
Bank charges 27 -
-
(Profit)/loss on disposal of fixed assts (1,973)
-
Repairs 10,481
Miscellaneous 631 1,471
Investment management fees 6,253 5,196
Support Costs
Insurance 4,243 4,041
Book keeping 3,741 3,865
Professional fees - 7,401
Photocopying, printing and office expenses 3,564 5,273
57,503 71,546
Net administration surplus / (deficit) (36,769) (53,486)
Overall net operating surplus (16,656) 79,614
Gains / (losses) on investment assets
Realised 21,210 38,136
Unrealised 29,705 134,022
50,915 172,158
NET MOVEMENT IN FUNDS 34,259 251,774
----- End of picture text -----