DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity number: 288749
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2024 Page Trustees, Report Ito8 Legal and Admlnlstratlve Informatlon Independent Examiners, Report io Statement of Flnanclal Actlvltles li Balance Sheet 12 Notes to the Financial Statements 13to20
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 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 2024. 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 Recomrrended Practice ISORPI FRS102 'Accounting and Reporting by Charities" STRucfuRE, GOVERNANCE AND MANAGEMENT The charitv Is rnanaged by the trustee5 who rnake strategic decisions and are 18gally re5pon5ible for the management of risks faced by the charity. The day to day management of the wotsd 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 recorders, group of local interested parties. The woodland manager attends all meeting5 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 I Spencer Mrs Brunt Mr M C Street Mr l Fisher Trustees are identified and selected by trustees for their knowled@e, skills and experience in relevant fields that they can bring to the charity. Specifically these include, forestry, conservation, financial, trust management, governance and local knowled8e. Investment powers The Trust 15 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 function5 are the maintenance of Bentley Wood SSSI and Upper Frenchmoor Copse on the Hamp5hire/wilt5hire border c105e 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 asslstance of grants from the Forestry Commission and Natural England, the woodland owned by the Trust and to provide an environrnent where wildlife can thrive and people'5 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 objective5 and in planning future activities.
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Strate IcRe ort Achievements and performance Report from the Chalrman of the Bentley Wood Trustees The past year, 2024, has been a quietly busy year with a lot accomplished in putting lon8-held plans into action. The Barn roof was renovated after Eiving many years of service. Its replacement and repair were long overdue and marks the first Stage in developing plans for the future use of the Barn and its immediate surrounds in pursuit of the Trust's educational ambitions. The environmental programme of improvements at Forestry Houses and the workshops loft insulation and roof renovation, the installation of solar photovoltaics supporting our energy consumption and reducing our carbon footprint, and the installation of battery storage and an electric vehicle charging point, have all been completed. And more prosaically, we have completed the restoration of the Ben Lane entrance track and re-fenced the roadside boundary along West Dean Lane. Management of the forest and its important wildlife habitats continues, all part of the cyclic yearly round of forestry activity and nature conservation management. As per the Forest Design and Conservation Plan5, we have installed new cattle handling infrastructure in Barnrid8e to accommodate our future wood pasture expansion ambitions and have removed the Norway Spruce in preparation of the same planned expansion of wood pasture habitat. We continue to slowly diversify the beech dominated stand5 in Beechways Copse, using group regeneration lat present Using areas created by the demise and removal of groups of diseased ashl replanting these areas with oak, whitebeam, hornbeam, hazel and wild service, a mix reflecting the composition of woods long before their conversion to hazel dominated coppice in earlier centuries and to beech plantations in the 20th. A similar diversification of Norway Spruce dominated stands in Mapleway Oean Copse has been pursued via group regeneration in windblow areas and replanting with a similar mix of oak, whitebearn, hazel and wild service tree, this time enhanced with disease re515tant elms in the valley bottom. And we have continued with trials of biodegradable tree tubes, (made from sheep's wool reinforced with a shellac varnish derived from cashew nut husk51. It will be some years yet before the durability of these tree tubes becomes clear. They will need to last for about 10 years, but they appear to have weathered the first few years well. The number of deer across our part of the county remains as the single largest threat threat to the biodiversity and management of the woods., llot only Bentley Wood but all the wood5 surrounding u5. We continue to manage the deer, with the aim of reducing their impact driven by the sheer number of fallow deer in the area. Deer are a vital and enjoyable part of the ecology of our native woodlands but their numbers, supported by highly productive surrounding arable land, a complete absence of natural predators and very mild winters, is having a big impact. Two developrnents in 2023 are worth noting. The drone survey undertaken across Bentley Wood and the surrounding countryside has given us a far better appreciation of the numbers of deer and their distribution. This survey will be repeated again in coming years. But numbers remain excessively high, so a decision has been rrade to increase the area of woodland to be fenced against deer in 2024. An unfortunate but necessary development sadly, but one we hope will eventually betome unnecessary as landowner5 and other5 find ways to manage the burgeoning numbers of deer in southern England.
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Report from the Chalrman of the Bentley Wood Trustees Icontlnuedl Thanks to the skill and expertise of our forest management team Bentley Wood is regarded as one of the best managed ancient woodlands in the country and as a result we have many requests by foresters and silviculturists to visit the wood guided by David Larnbert, our forester and conservation managei. In 2023 these "outreach" vi51ts included partie5 from the Wessex Silvicultural Group, who visited in May, a party from English Woodlands. a private forestry company looking into the possibilities of continuous cover forestry and nature conservation management in other similar woods across southern England, and from the Wiltshire Wildlife Trust looking at woodland management for butterflie5 at a Trust or£ani5ed training workshop. Last year. 2023, also saw the initiation of discussions with the newly appointed CEO of the Wiltshire Wildlife Trust over joining up action, planning and the sharing of expertise between Bentley Wood and its staff and WWT staff in the future management of the both the adjacent Blackmoor Copse nature reserve and their recent major acquisition at Great Wood, in the north of the county near Swindon. As in previous years the future of the timber yard tsn the edee of Bentley Wood continues to worry us as Trustees. As said in previous reports, the prospect of large numbers of houses brings with it the possibility of more disturbance on the edge of the woods land of course the nearby Wiltshire Trust Blackmoor Reserve), associated light pollution affecting rare moths and bats, along with possible entroachment from neighbouring gardens and an inevitable increase in people and their pets using the wood. These concerns are shared by the Wiltshire Wildlife Trust. Events unfolded very slowly in 2023, with the site being tidied up and cooperation with the new owners and the Trust allowing for both the debris to be cleared on both sides of the fence and for the repair of Some inexplicable vandalism to the boundary fence. The coming year is likely to be the year when a planninE application is submitted, determining the future of the site. Bentley Wood remains, as intended by it5 founder5, a destination for walking and the enjoyment of wildlife. Visitor numbers remained high throughout the year. As in previous years the numbers of instances of out-of-control doÈs remains high, along with the disturbance they bring to wildlife and to our essential deer stalking activities. How to manage this increase in do8 Usage and reduce disturbance has become a keen topic for discussion. The numbers of dogs jumping into the ponds remain5 a growing coneern because of the glowing use of external parasite treatrnent5, which, when washed off in our ponds. has devastating consequences for pond life like dragonflies and damselflies. We continue to address some of the unwelcome parking issues at the congested Winterslow entrance. This is not a recognised car park and parking here only hamper5 and occasionally prevents acce55 by the woodland management team and potentially by the emergency services should their help ever be required. It is these perennial headaches and problems that make up much of the discussion held by the Trustees. The coming year will see a further unfolding of our now approved Forest Design Plan and the major extension of the lightly grazed wood pasture areas, where so many of the rarer buttethies, moths, plants and other wildlife are to be found. We intend to connect them to each other with much wider rides and open glades connecting areas of woodland. The overall aim remains the creation of far more wildlife habitat across the woodland, connected by open rides and open glade5, areas of native woodland rich in oak and other species suited to our warming summers, while retaining a core asset of Douglas timber supporting the costs of the management of the woods while supplying goods and materials that will be in growing demand in the future. These changes are intended to make all aspects of the wood's wildlife and management more resilient against the evident changes in climate, as the weather becomes more extreme in coming years, Wlth expected droughts in the summer and far wetter winters. Volunteer activities continue to be important with a lot of eonseivation attivity undertaken due to their hard work and commitment in organising tasks and events. Indeed 2023 saw the celebration of the 10th anniversary of the volunteer group, marked by a meeting one very sunny Saturday in early September, with refreshments, speeches, and a guided tour of both sallows and butterfly rich rides led by the nation'5 leading expert of Purple Emperor5 and their fascinating ecology, Matthew Oates.
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Report from the Chairman of thè Bentlèy Wood Trustees Itontinuedl Supporting all this change and activity are our excellent Trustees, also unpaid volunteers offering up their time and expertise, who put in suth 3 lot of work to Secure the future of Bentley Wood. We have had no changes to the make-up of the board of Trustees this past year which has contributed significantly to both continuity and ongoing commitment to plans and ambitions. As ever much of what was done in 2022 and 2023 needs to continue into the years ahead to secure these change5 and embed them in the woodland, delivering the forestry and environment plan5, further work on ponds and recording. managing the visitors and securing our boundaries. But as Wlth last year it remains really important to ensure the work, for Trustees, employees and volunteers alike, remains fun. rewarding and fulfilling and that Bentley Wood continues to 5UStain its wildlife and its character as a place of quiet and fulfilling enjoyment to all. Jonathan Spencer Chairman, Bentley Wood Trust Forèstry Rèport I wrote in last yearfs report about the negative irnpact of the 2022 drought on the woodland Imore on this later) but it turns out there were also unexpected benefits. It is generally accepted that a wet summer following an unusually warm July in the previous year will, in the absence of spring frosts, trigger a heavy mast year in beech woodland. In the UK, given the rarity of warm summers, this only happens every 5 to IS years. 2023 was one of those years and in autumn the sheer volurne of m3St audibly crunched underfoot. It was the first tirne for many years that there w35 a notice3ble 'nut' in the characteristic triangular husk. Much of this seed falls victim to funeal attacks, predation by insects, wood mice, bank voles and birds - notably wood pigeons, of which there were a huge number in the beech stands this winter. Cold weather also takes its toll. Temperatures below minus 6 degrees Celsiu5 are reported to kill any exposed beech seed but some, either trodden into the ground by fallow deer or surviving under a protective blanket of leaf litter and brash, will Eerminate in the following spring and, with the number of deer gradually reducing, we hope to recruit some of this natural regeneration to nurse the small groups of enhancernent planting we have put in over the last few years. Last year's light thinning of the overstorey in Beechwood Copse was tirnely in this respect and 50rne natural regeneration in response to more light reachinfi the forest floor will certainly boost our ambition to diversify the structure of the beech stands, if not the diversity. The heavy mast was not just restricted to beech. Many tree5 produced a bumper trop of seed last autumn. Wild servite trees we planted in 2014 and 2016 flowered and fruited for the first time and the late summer rains swelled the sweet chestnut seed in the husk. Most of this was eaten by fallow deer but in the newly fenced enclosure in Park Copse we Pushed some seed into the ground to hide it from squirrels and we look forward to seeing whether any of this gerrninates in the spring. We adopted a similar approach with acorns that Oiana Cotter had collected and carefully sorted to exclude those bored into by weevils but these, oak being more light demanding, we planted in groups beneath carefully chosen gaps in the canopy. It Was a year of mixed fortune5 for our oak tree5. Those growing as a minor component of the canopy in the north of the wood seeded prolifically whereas thtsse in the south of the wood, where oak is dominant on the heavy clay soils, little or no acorn production was evident. In May we hosted a visit of the Wessex Silvicultural Group. and the health and quality of our oak stands were rnuch commented upon. Come lune and these same stands were for the third year in 5ucce5sion almost entirely defoliated by larvae of tortrix and winter moth5 and in late 5urnmer any 5ub5equent Lammas growth was smothered by powdery mildew. These oaks simply have not had the opptsrtunity to build the reserves required Walking along some of the wood's extensive ride network in early summer I was pleased to see that not all but most of the alder buckthorn, hawthorn and goat willow I had seen defoliated following the drought of the previous year were showing siEns of recovery. Similarly, there were no siEnificant signs of the previous yearfs drought in the beech stands as I feared there might be. That is not to say that there will not be an impact - trees are long-lived organisms and can harbour stress induced fungal infections and diseases for many years before they take effect. The 1976 drought has been cited a5 the cause of much beech 'snap'_ the name given to the stem of otherwise healthy-looking trees snapping at height to leave
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Forestry Report Icontinuedl just a stem some 15 feet or more high which subsequently dies. Beech snap is caused by a wood decay funeus that follows a previous infection by a fungal pathogen on trees weakened by sustained drought. These tall stumps are actually a useful Source of standing dead wood until they collapse and are routinely colonised by woodpeckers whose nest holes are also used by bats and other birds. We leave them together with the fallen tops where we can- there are several in Beechwood Copse that can be seen from the hard tracks. It has been our policy in recent years to thin out the Norway spruce from the mixed stands in the south of the wood and to heavily thin Norway spruce where it form5 a rnonoculture across the central belt. Occasionally, storm5 have and will continue to accelerate this policy but marketing the produce has recently been complicated by the closure of the local sawmill. Giddings, as it was known locally (although it was purchased by Binderholz Timber Group and renamed in 20141 had been proce55ing locally grown 50ft wood since 1942 and was the end point for almost all our spruce logs. Its closure means that produce must now travel as far as Wales to find a market which consequently increases both financial and environmental costs. To make matters worse there are two further problems on the horizon. First, storms are predicted to increase both in number and ferocity because of climate change and the south and particularly the south-east of England are predicted to become too dry to grow NonNay spruce. Second, is the arrival of Ips typographus- the eight toothed spruce bark beetle. Infestations of this visitor from the continent were first discovered in Kent in 2018 and there have been annual influxes since then. Ips typographus is a serious pest of spruce plantations in Europe. It normally feeds and breeds in dead or dying spruce or aged trees exposed to drought but following windblow events the availability of suitable breeding habitat increases to such an extent that a population can attack living trees in numbers able to overwhelm even a healthv tree's natural defences. There is now in place a revised demarcated area encompassing the south-east las far west as Winchester) within which the Forestry Cornmission must be notified of harve5tin8 operation5 in spruce stands to enable, if necessary, mitigating measures to prevent the spread of infected material. All trees in stands where Ips typographus is found must be felled whether infected or not. Although we are outside the current demarcated area, we must be mindful of the possibility of it being extended again in which case we would almost certainly be in it. The general advice is to remove NonNay spruce and replant with le5S 5U5ceptible 5pecie5- 50rnething that we intended to do anyway but maybe not quite so ureently. David Lambert Recorder's Group Report.. Recording in the Wood The annual Recorders, Group meeting, scheduled for late February 2024, was held to review the previous year and plan the forthcorning season. A lot of time and effort went into the 2023 season. Examples include the butterfy transect data, breeding bird and nest box recording and the annual fungus foray. The Trustee5 are aware that there are under-recorded groups, particularly invertebrates, and some work is beinE done by experts in their field to address this matter. There are also many fungi records from the early years11980s and '90sl which needed to be updated. We have been fortunate to commission an expert to do this for us over the 2023-24 seasons. As you will see in the following artitles, we now have records of one species not only new to the wood but also to Britain, several species of wasp that are new to the wood. over fifty new fungi and some very exciting discoveries made during bat surveys. A5 the woodland structUTe has changed 50 rnuch in the past 40 y8ar5, It is import3Nt to know about our gains aNd105se5 and whether these can be attributed to our mana8ement, to climate change, to the impact of so many more visitors or to the general loss of biodiversity in the wider landscape. We are very aware that pollution of the atmosphere and of water by fertilisers, herbicides, inserticides and a multitude of other chemica15 from a whole range of different sources, ha5 impacts far from their point of origin and that nature reserves are not Immune to these threats. No longer is it enough to manage our wood responsibly, although we certainly need to, but we need to be alert to so many threats from the wider environrnent, over which we have no direct control. Pat Woodruffe
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Volunteer Group Artivities The Volunteers had our famous Bentley Wood Bean Pole Celebration Event on Saturday 14 April. Thanks to all the volunteer helpers, and to local woodland craftsman for their thatching spar and hurdle-making demos. The photo exhibition about the Vols and How We Produce Our Woodland Products was appreciated by many visitors. The draw of refreshments and woodland crafts, and of course the bean poles and pea-5ticks themselves, proved irresistible for some 80 people and we took a reeord-breaking £705, which will go towards tools, equipment, glove5 and refreshments for the Vols. Despite Covid and the vagaries of British weather the Volunteers completed 19 conservation sessions, about 690 person hours, that included removing Lawson Cypress. cutting Birch, maintenance work in and around the Draining Field pond and our favourite- hazel coppicing. The Volunteers celebrated their 10th 3nniver5ary with 3 special event in the wood in Septembei. There's a piece about this elsewhere in Nature Notes. In the autumn we started an exciting new long-term project to plant a 270-metre hedge of mixed native trees and shrubs in the Draining Field and fence it to protect it from deer and stock. Native wild flowers will also be grown and planted out along the hedge in future years. There are currently well tsver 30 reÉular, active volunteers and we have welcomed 7 new volunteers this year. Six volunteers received their"IO task" badges in 2023. two volunteers were given "25 task" certificates, and one each got '50 task" 75 task" and"IOO task" certificate5. Congratulations and a massive thank you to all our wonderful volunteers and thanks to the Trustee5 and David Larnbert for supporting u5 alll Sue Walker and Tony Goddard Friends of Bentley Wood Chairman's Report l ended last yearfs report by saying that I hoped you would join with me in welcoming the changes, and new initiatives, that we had agreed with the Trustee5. 50 how have we got on, and what has the reaction beenP We suggested change but not radical change. So, the key events remained.. the Spring and Autumn Drive Thru's, the Spring AGM and the Christmas Party. We continued to host the very popular Bean Pole Celebration run by the Volunteers, as well as the Fungus Foray. We did, though, change the Summer Party, combining it with the Morning of Marvellous Moths and over 50 of you came, making a lot of hard work well worth it. My thanks go to everyone who helped. We also added an evening with the bats where over 30 enjoyed themselves and, as an added bonus, we found glow worms on the way homel The education initiative that we had also promised, became a reality in June when the 1st Lockerley Brownies and Rainbows came into the Wood to explore, learn and pond dip. Twenty six children from Winterslow Prirnary School followed in july, as did the Landford Brownies. One comment made afterwards said it all.. "Just wanted to say a huge thank you to you and your team. The children had such a lovely time exploring the Wood~ Again, thanks to all who helped. We will. l am sure, be continuing with this one. l am very concerned to make the Wood accessible to the young in a safe way and, through access, to educate. Good habit5 acquired young, tend to stick, and the young land their parentsll are the future for the Wood. Lookirig forward, 2024 is likely to be a year of consolidation as we refine these new initiative5. We also hope that the Trustees will make part of the Barn available to us, particularly because we badly need somewhere to take the local Schools, Brownies and Rainbows on wet days. Graham Bennett Chair of the Friend5 of Bentley Wood A full report on the Trust's activities for the year is available to all in the form of 'Bentley Wood Nature Notes 2023 from the secretary.
THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
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 trustees individually throughout the year.
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 by the Trustees in recent years 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 our Investments decreased from £1.537M at 31st March 2023 to £1.465M at 31st March 2024 however our cash balances increased during the year by £147K an overall increase of £75K to our strategic reserve.
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
Our successful application for a further five years of support under Countryside Stewardship will enable the Trust to continue with the restoration of a significant proportion of Bentley Wood SSSI and Upper Frenchmoor Copse. This work will involve extending our existing wood pasture, and pushing back ride edges to create glades that will 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 increase the area of managed hazel coppice which will further benefit wildlife 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.
7
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEE'S RESPONSIBIUTIES The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wale5 requires the trustees to prepare financial staternent5 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.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2015 IFRS1021', make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless it is inappropriate to PTesume that the charity will continue in operation. 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 Charitie5 Act 2011, the Charities IAccounts 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 irre8ularitie5. On behalf of the Board of Trustees A7D289IÈ6UÈAIÈO MrA G Goddard Trustee Date.. lQ...?..4nw.dry.. 2.Q.2.5....
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED31 MARCH 2024 Charity Number 288749 Reglstered Office 55 Elmwood Avenue Fordingbridge Hampshire SP6 IDL Trustees Dr P Woodruffe MrAG Goddard Mr J Spencer Mr S Brunt Mr M C Street Mr J Fisher Key management David Lambert Banker5 HSBC Bank plc 27 High Street RinEwood Hants BH24 IBE Investment managers Sanlam Wealth Planning UK Ltd Monument Place 24 Monument Street London EC3R 8AJ Independent examlner Nick Jones FCCA Fawcetts LLP Chartered Accountants and Statutory Auditor5 Windover House St. Ann Street Salisbury SPI 2DR
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 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 2024. Responslbllltles and basls 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 20111'the Att'l. I report in respect of my examination of the Trust's account5 carried out under section 145 of the 2011 Act and in carrying out rny examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement I confirm that l am qualified to undertake the exarnination because l a rnember of the As50C13tion of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirrn that no material rnatter5 have come to my attention in connection with the examination Eiving me cause to believe that in any material respect.. accounting record5 were not kept in respect of the Trust a5 required by section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) ReEulations 2008 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. 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 acctsunts to be reached. QED738f3471B434 Nicholas lones FCCA Chartered Accountants Fawcetts LLP Windover House St. Ann Street Salisburv SPI 2DR Date.. 10 january.. 2025 10
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Funds Restricted Endowment 2024 Total 2023 Total Unrestrirted Notè INCOME AND ENDOWMENTS FROM: Donations and legacies 4.678 4.678 645 Charitable activities 258,169 258,169 175,774 Investments 31,856 31,856 24,463 Total incomè and endowmènts 294.703 294,703 200,882 EXPENDITURE ON.. Investments- management fees 3,475 3,475 5,563 Charitable activities 215,120 16,064 231,184 164,825 Total expenditure 215,120 19,539 234,659 170,388 Net gains/llossesl on investments 13 31,207 31,207 1103,0041 NET INCOMEIIEXPENDITUREI 79,583 11,668 91,251 172,5101 Transfers between funds 13 100,002 1100,0021 NETMOVEMENT IN FUNDS 179,585 188.3341 91,251 172,5101 RECONCILIATION OF FUNDS- Total fund5 brought forward 90,082 3,217,482 3,307,564 3,380,074 TOTAL FUNDS CARRIED FORWARD 269,667 3.129,148 3,398,815 3.307,564 All of the above results are derived from continuing activities. There were no other recognised gains or1055e5 Other than those Stated above. The notes form part of these financial statements
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2023 2024 2023 Note FIXED ASSETS Tangible fixed assets Investments 1,748,789 1,465.342 3,214,131 1,723,954 1,537.612 3,261,566 CURRENT ASSErs Stocks Debtor5 Cash at bank and in hand 1,692 5,037 194,255 1,116 4,400 47,194 io 200,984 52,710 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 11 16,300 6,712 NET CURRENT ASss 184,684 4S,998 NET ASSETS 3.398.815 3.307.564 CHARITY FUNDS Unrestricted funds Restricted funds Endowment funds 13 13 13 269,667 90,082 3.129,148 3.217,482 TOTALCHARITY FUNDS 12 3.398,815 3.307,564 The financial statements were approved and authorised for issue by the Board of Trustees on lQ...J.Anu.ary...2.Q.kS...... and were signed on its behalf by.. 47D2894BBe844BD. MrA G Goddard Trustee The note5 form part of these financial statements
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 actordance with èpplicable Accounting Standards in the United Kingdom, the Statement of Recommended Practice ISORPI 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 tsn 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 aggreeate 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 re5triction5 IrnP05ed 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 gain5 or 1055es on the investments form part of the fund. Investment mana8ement char8e5 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 Land and woodlands- infrastructure Buildings Motor vehicles not depreciated 5% straight line basis IO% straight line basis 25% straight line basis 25% straight line basis Computers and equipment 13
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Icontlnuedl 1.7 INVESTMENTS Listed investments held in a portfolio are recognised initially èt fair value which is normally the transaction price excluding transaction cost. Subsequently, they are measured at fair value with changes recognised in net gainslllossesl on investments in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliablv. 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 STOCKS Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving item5. 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 Charitie5 Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 14
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES Total 2024 Total 2023 Unrestricted Restricted Endowmènt Forestry income Venison sales Grants received Rents received 75,099 1,190 171,680 10,2(X) 75.099 1,190 171,680 10.200 92,168 1,306 72,1(M) 10,2(X) 258.169 258,169 175.774 3. INCOME FROM INVESTMENTS Total 2024 Total 2023 Unrestrlcted Restrlcted Endowment Dividends from equities Bank interest 31,794 62 31,794 62 24,451 12 31,856 31,856 24,463 (PENDITURE ON CHARITABLE A1vlEs Total 2024 Total 2023 Unrestricted Restricted Endowment Wages Inote 51 Contract forestry work Conservation work Planting Road maintenance Repairs Rental expense Depreciation IProfitl11055 on disposal of 355et Subscriptions & membership fees Support costs Travel expenses Miscellaneous expenses Trustees, and volunteer expenses Accountancy fees Bank charge5 59,999 33,221 21,029 4,178 16,860 28,860 14,250 17,440 551 59,999 33,221 21.029 4,178 16,860 28,860 14,250 33,504 ssl 52,522 10,933 15,441 6,174 3,263 21,701 4,342 26,473 16,064 10,999 10,999 10,065 1,089 7,987 2,281 2,400 154 4,016 1,086 2,5CM) 131 4,016 1,086 2,500 131 215.120 16,064 231,184 164,825 15
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 srAFF COSTS AND EMPLOYEE BENEFITS Staff costs during the year were as follows= 2024 2023 Charltable Actlvltles.. Salaries and wages Ernployers, National Insurance costs 53,991 1,124 55,115 49,082 810 49.892 Pension contributions 4,884 2,630 59,999 52.522 The above also represents the key management personnel remuneration. The average monthly number of employees during the year was as follows.. 2024 2023 No. Management There were no employees who earned in excess of £60,000 per annum or more (including tèxable benefits) during the year12023.' £nill. GOVERNANCE COSTS 2024 2023 Trustee remuneration Independent examiner's remuneration 496 2,500 464 2,4(X) 2,996 2,864 TRUSTEES, REMUNERATION AND EXPENSES 2024 2023 Trustees, expense5 reimbursed Idelivery c05tsltravell 496 464 Number of trustees receiving expenses With the exception of the above, none of the trustees received any remuneration in respect of their duties as tru5tee5 during the year12023.. £nill. There were no other related party transactions during the year. 16
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASS5 Land & woodlands Motor vehlcles Computer5 & equlpment Buildings Total Cost At l April 2023 Additions Disposals 1,673,765 177,922 39,390 13,316 66,603 22,000 110,8491 1,931,606 61,390 110,8491 At 31 March 2024 1,673,765 217,312 13,316 77,754 1,982,147 Depreciation At l April 2023 Charge for the year On disposals 49,513 3,670 97,922 20,172 13,130 46 47,087 9,616 17,7981 207,652 33,504 17,7981 At 31 March 2024 53,183 118,094 13,176 48,90S 233,358 Net Book Value At 31 March 2024 1,620,582 99,218 140 28,849 1,748.789 At 31 March 2023 1,624,252 80,000 186 19,516 1,723,954 FIXED ASSET INVESTMENTS Investment portfolio Investment propèrty 2024 2023 Movement In marketlfalr value: Market/fair value at l April Acquisitions at cost Disposal proceeds Reali5ed gainslllossesl on disposals Unrealised gainslllossesl on revaluation 1,090,674 423,933 1491,6701 114,9611 46,168 377,613 1,468,287 423,933 1491,6701 114,9611 46,168 1,480,647 252.650 1162,0061 18,9641 194,0401 Marketlfair value at 31 March 1,054,144 377,613 1,431,757 1,468,287 Cash held as part of portfolio 33,585 33,585 69,325 Total iNve5tments 1,087,729 377,613 1,465,342 1,537,612 Historical c05t 1,012,758 377,613 1,390,371 1,527,790 Analysis of investments.. Funds Unrestrlcted Endowment 2024 Total 2023 Total Listed investments.. UK quoted shares UK cash held as part of portfolio UK investment property 1,054,144 33,585 377,613 1.054,144 33,585 377,613 1,090.674 69,325 377,613 1,465,342 1,465,342 1,537,612 In the opinion of the trustees the market value of the investment property remains unchanged as at 31 March 2024.
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 10. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 5,037 3,607 793 VAT 5,037 4,400 11. CREDITORS: AMOUNTS DUE WITHIN ONEYEAR 2024 2023 Trade creditors Accruals and deferred income VAT other creditors 10,089 3,752 1,417 1,042 4.058 2,578 76 16.300 6,712 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Net current Fixed assets Investments assets Total Unrestricted general funds Unrestrcted designated funds Restricted funds Endowment funds 64,787 20,197 184.684 249,471 20,197 1,663.805 1.465,342 3,129.147 Net Assets at the end of the year 1,748,789 1,465,342 184,684 3,398,815 Comparative balances for the year ended 31 March 2023- Net current assets Flxed assets Investments Total Unie5tricted general fuNd5 Unrestricted designated funds Restricted funds Endowrnent funds 20,216 23.867 46,000 66,216 23.867 1,679,869 1,537,612 3,217,481 Net Assets at thè end of the year 1,723,952 1,537.612 46.000 3,307.564 18
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 13. FUNDS Balance at 0110412023 Incoming resources Outgoing resources Gains Ilossesl Balance at 3110312024 Transfers Unrestricted funds General fund Designated fund 62,545 27,537 294,703 1211,4501 13,6701 100,(X)2 245,800 23,867 90,082 294,703 1215,1201 100,002 269,667 Restrlcted funds Endowment funds Expendable endowment 3.217,482 119,5391 31.207 1100,0021 3.129,148 Total funds 3,307,564 294,703 1234.6591 31,207 3,398,815 Comparative balante5 for the year ended 31 March 2023.. 8alance at 0110412022 Incoming resources Outgoing resources Gains/ 11055esl Balance at 3110312023 Transfers Unrestrlcted funds General fund Designated fund 107,629 27,537 200,882 1148,7611 197,2051 62,545 27,537 135,166 200,882 1148,7611 197,2051 90.082 Restrictèd funds Endowment funds Expendable endowment 3,244,908 121,6271 1103,CK)41 97,205 3,217,482 Total funds 3,380,074 200,882 1170,3881 1103,0041 3,307,564 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. 19
DoGusign Envelope ID". 97FAA401_F3724FCBA8FD.B8B036F292F8 THE BENTLEY WOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 14. COMPARATIVE BALANCES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Funds Restrlcted 2023 Total Unrestrlcted Endowment INCOME AND ENDOWMENTS FROM.. Donation5 and legacie5 Charitable activities Investments 645 175,774 24,463 645 175.774 24,463 Total income 200,882 200.882 EXPENDITURE ON.. Investments- management Charitable activities 5,563 16,064 5,563 164.825 148,761 Total expenditure 148,761 21,627 170,388 Net gainslllossesl on investments 1103,0041 1103,0041 INCOMVIEXPENDITUREI 52.121 1124,6311 172,5101 Transfer5 between funds 197,2041 97,204 NET MOVEMENT IN FUNDS 145,0831 127/1271 172.5101 RECONCILIATION OF FUNDS: Total fund5 brought forward 135,166 3,244,908 3,380,074 TOTAL FUNDS CARRIED FORWARD 90,083 3,217,481 3,307,564 20