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|||Page|
|---|---|---|
|Trustees' Report||1tot|
|Legal and Admlnlstrathre|Information||
|Independent<br>Examiners'|Report||
|Statement ofFlnandal Acthrldes||10|
|Balance Sheet|||
|Notes tothe Flnandal Statements||12to19|





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|Charity Number|Charity Number||||
|---|---|---|---|---|
|Registered|Office|55 Elmwood<br>Avenue|||
|||Fordingbridge|||
|||Hampshire|||
|||SP6 1DL|||
|Trustees||Dr PWoodruffe|||
|||Mr A G Goddard|||
|||MrISpencer|||
|||Mr 5Brunt|||
|||Mr M CStreet|||
|||MrI Fisher|||
|Key management||David Lambert|||
|Bankers||HSBCBank pic|||
|||21High Street|||
|||Ringwood|||
|||Hants|||
|||BH24 1BE|||
|Investment|managers|Sanlam Wealth|Planning|UK Ltd|
|||Monument<br>Place|||
|||24Monument|Street||
|||London|||
|||ECSRSAI|||
|independent|examiner|Nick Jones FCCA|||
|||Fawcetts<br>LLP|||
|||Chartered<br>Accountants|||
|||and Statutory Auditors|||
|||Windover<br>House|||
|||St.Ann Street|||
|||Salisbury|||
|||SP12DR|||





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|||||Funds||2023|2022|
|---|---|---|---|---|---|---|---|
||||Unrestrkted|Restdsted|E devwueat|Total|Total|
|||Note|E|E|E|E|E|
|INCOME AND ENDOWMENTS FROM:||||||||
|Donations<br>and legacies|||||||1,200|
|Charitable<br>activities||2|175,774|||175,774|120,324|
|Investments||3|24,463|||24,463|18,474|
|Total income|||200,882|||200,882|139,998|
|EXPENDITURE ON:||||||||
|Investments<br>-management|fees||||5,563|5,563|6,253|
|Charitable<br>activities||4|164,825|||164,825|150,401|
|Total expenditure|||164,825||5,563|170,388|156,654|
|Net gains/(losses)<br>on investments||12|||(103,004)|(103,004)|50,915|
|NET INCOME/(EXPENDITURE)|||36,057||(108,567)|(72,510)|34,259|
|Transfers between funds||12||||||
|NET MOVEMENT IN FUNDS|||362I57||(108~7)|(72,510)|34,259|
|RECONGUAllON<br>OF FUNDS:||||||||
|Total funds brought forward|||135,166||3,244,908|3,380,074|3,345,815|
|TOTAL FUNDS CARRIED FORWARD|||f71AIS|.|Mjs&i|MDMS4|~,SNAI74|





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||A|SAT31MARCH 2028|||
|---|---|---|---|---|
|||||2022|
|||Note|||
|FSIEDASSETS|||||
|Tangible fixed assets|||1,723,952|1,747,092|
|Investments|||1,537,612|1,546,177|
||||3,261,564|3,293,269|
|CURRENT ASSETS|||||
|Stock|||1,116||
|Debtors|||4,400|3,261|
|Cash at bank and in hand|||47,196|108,094|
||||52,712|111,955|
|CREDITORS: AMOUNTS DUE WITHIN ONE YEAR||10|6,712|25,150|
|NET CURRENT ASSETS|||46,000|86,805|
|||||S.HOAI74|
|FUNDS|||||
|Unrestricted|funds|12|171,223|135,166|
|Restricted funds||12|||
|Endowment|funds|12|3,136,341|3,244,908|
|TOTAL FUNDS|||~,MI7JWI|~.a@0.074|





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|2.|CHARITABLE AC|l|lVITIES -|INC|OME||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Total|Total|
|||||||Unrestricted|Restrkged|Endowment|2023|2022|
|||||||E|E|E|E|6|
||Forestry income|||||92,168|||92,168|125,748|
||Venison sales|||||1,306|||1,306|1,553|
||Grants received|||||72,100|||72,100|(17,1771|
||Rents received|||||10,200|||10,200|10,200|
|||||||175,774|||175,774|120,324|
|3.|INVESTMENT INCOME||||||||||
||||||||||Total|Total|
|||||||Unrestricted||Endowment|2023|2022|
|||||||6|E|E|E|E|
||Dividends from||equkies|||24,451|||24,451|18,471|
||Bank interest|||||12|||12|3|
|||||||24,4f8|||24,463|18,474|
|4.|CHARITABLE ACI1VITIES -|||EXPENDITURE|||||||
||||||||||Total|Total|
|||||||Unrestricted|Restricted|Elldowmerrt|2023|2022|
|||||||E|E|E|E|E|
||Wages (note 5)|||||52,522|||52,522|50,666|
||Contract forestry work|||||10,933|||10,933|24,722|
||Conservation|work||||15,441|||15,441|3,631|
||Planting|||||6,174|||6,174|1,381|
||Road maintenance|||||3,263|||3,263|2,628|
||Repairs|||||21,701|||21,701|21,267|
||Rentalexpense|||||4,342|||4,342|1,558|
||Depreciation|||||26973|||26,473|27,551|
||(Profit)/loss on||disposal|ofasset||||||(1,973)|
||Subscriptions|&membership|||fees|||||98|
||Su pport costs|||||10,065|||10,065|11,569|
||Travel expenses|||||1,089|||1,089|1,363|
||Miscellaneous||expenses|||7,987|||7,987|3,403|
||Trustees' and|volunteer||expenses||2,281|||2,281|285|
||Accountancy fees|||||2,400|||2,400|2,225|
||Bank charges|||||154|||154|27|
|||||||164,825|||164,825|150,401|





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|Staff costs during the|Staff costs during the|year were as follows:|||||2022|
|---|---|---|---|---|---|---|---|
||||||||E|
|Charitable Acthrlties:||||||||
|Salaries and|wages|||||49,082|46,798|
|Employers'|National|Insurance costs||||810|1,238|
|||||||49,892|48,036|
|Pension contributions||||||2,630|2,630|
|||||||52,522|50,666|
|The above also represents the key management||||personnel|remuneration.|||
|The average|monthly|number ofempkryees|during the year||was asfollows:|2023|2022|
|||||||No.|No.|
|||||||1|1|



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|TRUSTEES' REMUNERATION|AND EKPENSES|AND EKPENSES||2022f|
|---|---|---|---|---|
|Trustees' expenses reimbursed||(delivery costs/travel)|484|288|
|Number oftrustees receiving||expenses|||



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|7.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Land|EI||Motor|Computers<br>gi||
|||||woodlands<br>f||Bugdlngs<br>E|vshides<br>E|equipment<br>f|Totalf|
||Cost|||||||||
||At1April 2022|||1,673,765||177,922|13,316|63,270|1,928,273|
||Additions|||||||3333|3,333|
||Disposals|||||||||
||At31March 2023|||1,673,765||177,922|13,316|66,603|1,931,606|
||Depredation|||||||||
||At1April 2022|||45,843||81,689|13,067|40,582|181,181|
||charge forthe year||||3,670|16,233||6,507|26,473|
||On disposals|||||||||
||At31March 2023|||49,513||97,922|13,130|47,089|207,654|
||Net BookValue|||||||||
||At31March 2023|||1,624,252||80,000|186|19,514|1,723,952|
||At31March 2022|||1,627,922||96,233|249|22,688|1,747,092|
|8.|FIXEDASSETINVESTMENTS|||||lnvastmant|lnvestmeilt|||
||Movement<br>in market/fair|||value:||portfolio<br>E|property<br>E|2023<br>E|2022f|
||Market/fair<br>value at|1April||||1,103,034|377,613|1,480,647|1,358,628|
||Acquisitions atcost|||||252,650||252,650|283,505|
||Disposal proceeds|||||(162,006)||(162,006)|(212,401)|
||Realised gains/(losses)||on|disposals||(8,964)||(8,964)|21,210|
||Unrealised<br>gains/(losses)|||on revaluation||(94,040)||(94,040)|29,705|
||Market/fair<br>value at|31March||||1,090,674|3T/,613|1,468,287|1,480,647|
||Cash held as part of|portfolio||||69,325||69,325|65,530|
||Tots I investments|||||1,159,999|377,613|1,537,612|1,546,177|
||Historical cost|||||1,150,177|377,613|1,527,790||
||Analysis ofInvestments:|||||Funds||2023|2022|
|||||||Un estdcted|Endowment|Total|Total|
|||||||f|f|f|f|
||Listed investments:|UKquoted shares|||||1,090,674|1,090,674|1,103,034|
||UK cash held as part|of|portfolio||||69,325|69,325|65,530|
||UK investment<br>property||||||377,613|377,613|377,613|
||||||||1,537,612|1,557,612|4546,177|





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||Trade debtors||||||
|---|---|---|---|---|---|---|
||Prepayments<br>and accrued income||||3,607|3,261|
||VAT||||793||
||||||4,400|3,261|
|10.|CREDITORS: AMOUNTS DUE WITHIN ONE YEAR||||||
||Trade creditors||||4,058|3,635|
||Accruals and deferred|income|||2,578|5,025|
||Social security and other taxes|||||16,490|
||Other creditors||||76||
||||||6,712|25,150|
|11.|ANALY55 OF NET ASSETS BETWEEN FUNDS||||Net curreltt||
||||Fhed assets|Investments|assets|Total|
||||E|6|E|E|
||Unrestricted<br>general funds||20,216||46,000|66,216|
||Unrestrcted<br>designated|funds|23,867|||23,867|
||Restricted funds||||||
||Endowment<br>funds||1,679,869|1,537,612||3,217,481|
||Net Assets attile end|ofthe year|1,723,952|1437,612|46,000|3,307,564|



|||||||Net current||
|---|---|---|---|---|---|---|---|
|||||Fb(ed assets|Illveahnellta|aaaels|Total|
|||||E|E|E|E|
|Unrestricted|general|funds||20,824||86,805|107,629|
|Unrestricted|designated||funds|27,537|||27,537|
|Restricted funds||||||||
|Endowment|funds|||1,698,731|1~6,177||3,244,908|
|Net Assets|etthe end ofthe year|||1,747,002|1,546,177|068D5|3,300,D74|





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|FUNDS||||||||
|---|---|---|---|---|---|---|---|
|||Balance at|Incoming|Outgoing|Gains/||Balance at|
|||01/04/2022|fasourcas|fesoufcas|(losses)|Transfers|31/03/2023|
|||E|E|E|E|E|E|
|Unrestricted|funds|||||||
|General fund||107,629|200,882|(145,091)||(97,205)|66,215|
|Designated|fund|27,537||(3,670)|||23,867|
|||135,166|200,882|(148,761)||(97,205)|90,082|
|Restricted funds||||||||
|Endowment|funds|||||||
|Expendable|endowment|3,244,908||(21,303)|(103,328)|97,205|3,217,482|
|Total funds||~380074|200002|(170004)|(103328)|.|3.307304|



|Com parativ|e balances fo|rthe year ended|31March 2022:|||||
|---|---|---|---|---|---|---|---|
|||Balance at|Incoming|Outgoing|Gains/||Balance at|
|||01/04/2021|fesoufcas|fasollfces|0oases)|Transfers|31/03/2022|
|||E|E|E|E|E|E|
|Unrestricted|funds|||||||
|General fund||173,297|139,998|(130,666)||(75,000)|107,629|
|Designated|fund|31,207||(3,670)|||27,537|
|||204,504|139,998|(134336)||(75,000)|135,166|
|Restricted funds||||||||
|Endowment|funds|||||||
|Expendable|endowment|3,141,311||(21,261)|49,858|75,000|3,244,908|
|Total funds||3,345,815|139,998|(155,597)|49,858||3,380,074|





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|||FO|RTHE YEAR ENDED 31MARC|H 2023||
|---|---|---|---|---|---|
|||||2023||
|||||E||
|Foresuy income||||||
|Sales - conifers and||hardwood|pulp and permits|91,258|124,689|
|Forestry Commission||Grant (50%)||36,050|34,747|
|Forestry Commission||Grant (50%)- over accrued|||(43,336)|
|Venison sales||||1,306|1,553|
|||||128,614|117,653|
|Forestry expenses||||||
|Contract forestry work||||6,023|14,686|
|Deer stalking|(contract forestry)|||4,910|6,583|
|Wages||||26,261|25,336|
|Repairs||||1,685|1,314|
|Road maintenance||||3,263|2,628|
|Planting||||6,174|1,381|
|Travel||||388|396|
|Miscellaneous||||6,661|2,154|
|||||55,365|54,478|
|Forestry net surplus|||||63,175|
|QQNNERV~ATI<br>N||||||
|Conservation<br>income||||||
|Forestry Commission||Grant (50%)||36,050|34,747|
|Forestry Commission||Grant (50%) - over accrued|||(43,336)|
|Other income||||||
|||||36,050|8,589|
|Conservation<br>expenses||||||
|Wages||||15,757|15,202|
|Conservation|work|||15,441|7,084|
|Travel expenses||||459|237|
|Repairs||||13,861|19,954|
|Planting||||||
|Miscellaneous||||||
|||||46,372|43,115|
|Conservation<br>net surplus/||(deRcit)||(1Os2R)|I51,TIN)|
|OPERATING SURPLUS CARRIED FORWARD||||62,927|11A71|





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|13. COMPARAllVE<br>BALANCES FOR THE STAT|EMENT OF FINANCIAL AC|IIVlllES|||
|---|---|---|---|---|
|||Funds||2022|
||Unfaolficted||Endowment|Total|
||E||E|E|
|INCOME AND ENDOWMENTS FROM:|||||
|Donations and legacies|1,200|||1,200|
|Charitable<br>activities<br>Investments|120824<br>18,474|||120,324<br>18,474|
|Total income|139,998|||139,998|
|EXPENDITURE ON:<br>Investments<br>-management<br>Charitable<br>activities|134,336||6,253<br>16,065|6,253<br>150,401|
|Total expenditure|134,336||22,318|156,654|
|Net gains/(losses)<br>on investments|||50,915|50,915|
|NET INCOME/(EXPENDITURE)|5,662||28,597|34,259|
|Transfers between funds|(75,000)||75,000||
|NET MOVEMENT IN FUNDS|(69338)||103497|$4459|
|RECONCIUATION<br>OF FUNDS:|||||
|Total funds brought forward|||3,141,311|3,345,815|
|TOTAL FUNDS CARRIED FORWARD|||$~,908|$,$80,074|





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|||||FOR|THE YEAR ENDED 31M|ARCH 2023||
|---|---|---|---|---|---|---|---|
||||||||2022|
||||||||6|
|OPERATING SURPLUS BROUGHT FORWARD||||||62,927|11,471|
|)(EBI/L||||||||
|Rental income||||||||
|Rental income||||||10,200|10,200|
|Rental expenditure||||||||
|Rentalexpenditure||||||4,342|1,558|
|Net rental surplus /|(delldt)|||||52)5$|$,642|
|ADMINI<br>Tl||ETR||||||
|Administration<br>income||||||||
|Dividends<br>and|interest received|||||24,463|18,474|
|Other income||||||1,555|2,260|
|||||||26,018|20,734|
|Administration<br>expenses||||||||
|Wages||||||10,504|10,128|
|Depreciation||||||26,473|27,551|
|Accountancy fees||||||2,400|2,225|
|Subscriptions|and membership||||fees||98|
|Travelexpenses||||||242|730|
|Trustees' and|volunteer|||expenses||2,281|285|
|Bank charges||||||154|27|
|(Propt)/loss<br>on||disposal||offixed|assts||(1,973)|
|Repairs||||||6,155||
|Miscellaneous||||||472|631|
|Investment<br>management||||fees||5,239|6,253|
|Support Costs||||||||
|Insurance||||||4,375|4,243|
|Book keeping||||||1,745|3,741|
|Professional fees||||||382||
|Photocopying,||printing|and office expenses|||3,563|3,564|
||||||||57,503|
|Net administration|surplus /|||(delldt)||Ill,see|ime,lNe|
|Overall net operating||surplus||||RlglS|i16.65e|
|Gains / (losses) on Investment||||assets||||
|Realised||||||(14,526)|21,210|
|Uniealised||||||(88,802)|29,705|
|||||||(103,328)|50,915|
|NET MOVEMENT IN||FUNDS||||(72,510)|34459|