REGISTERED CHARITY NUMBER: 296531
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024
FOR
THE WETLAND TRUST
GMP Audit Limited, Statutory Auditor
20 Eversley Road
Bexhill on Sea
East Sussex
TN40 1HE
THE WETLAND TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
|
Page |
Page |
|
Report of the Trustees |
1 |
to |
5 |
Report of the Independent Auditors |
6 |
to |
8 |
Statement of Financial Activities |
|
9 |
|
Balance Sheet |
|
10 |
|
Cash Flow Statement |
|
11 |
|
Notes to the Cash Flow Statement |
|
12 |
|
Notes to the Financial Statements |
13 |
to |
26 |
Detailed Statement of Financial Activities |
27 |
to |
29 |
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5TH APRIL 2024
THE WETLAND TRUST
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
5thApril2024.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity is governed by its charitable trust deed created on 12 March 1987.
The charity was set up to promote and conserve natural bio systems by creating and restoring the
habitatsofexistingandrarespeciesofplants,insects,birdsandmammalslocaltothePannelValley in
Icklesham, East Sussex and elsewhere for the benefit of the public.
The charity also supports the study of ecology, conservation and scientific research of the above and
publishes the results, in addition to the active promotion of public education in flora and fauna.
Thecharityachievestheseaimsbycontinuingtomanagethelandinanenvironmentallyand ecological
wayinordertocreatefurtherbio-diversity.Themeasureofsuccessisseeingthespeciesof plants,
insectsandbirdsincrease.Surveysinrecentyearshaveshownthatthespecieslistfortheentiretyof the
WetlandTrustlandincludesaround350speciesofbird,aswellasaround50othervertebrate species,
almost 1900 invertebrates and 700 plants.
In planning our activities for the year we kept in mind the Charity Commission's guidance on public
benefit.Thefocusofouractivityremainstoprotectandconserveplantandanimalhabitatsinthe local
area and around the world.
Volunteers
Fromtimetotime,individualsinterestedinornithologyandespeciallybirdringing,willcometosite in
ordertolearnhowtoringbirds.Allbirdringersrequireapermit.Ringerswillreceivetrainingand in
returnfortheirassistanceinringingbirdsonthetrust'sland,theymayreceiveaccommodationfor the
duration of their visit. These visits are short term and no other benefits or remuneration are given.
Page 1
THE WETLAND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities, achievements and performance
Throughouttheyearthecharityhascontinuedtomaintainandconservethenaturereserveinthe Pannel
Valley,EastSussexandthesurroundingfarmlandunderitscontrol.Thissupportsthelargevariety of
migrating and breeding bird species and the native flora and fauna.
Theoutbreakofhighlypathogenicavianinfluenza(HPAI)in2022impactedthemajorityofEngland's main
seabirdcoloniesresultinginmassmortalitiesofbothadultandjuvenileseabirdsacrossarange of
species.TheWetlandTrustworkedwiththeRSPBtoimprovethebreedinghabitatavailabilityand create
areasofrelativesafetyfrompredationfortherelevantbreedingbirdspecies(particularlyternsand gulls)
viatheprovisionofnewnestinghabitatonTheWetlandTrustland.Thiswasenabledbyinstalling new
fencing and tern rafts in order to provide a safe and protected environment for the breeding season.
Workcontinuestomaintainthelandwhichismadeupofflower-richgrassland,scrub,reedbeds, wet
grassland,freshwaterditchesandancientsemi-naturalwoodland.Thisistoensurethatthearea is
attractivetothelargenumbersofmigratingandbreedingbirdspeciesthatareknowntousethis area
and to promote the bio-diversity of the flora and fauna.
TheWetlandTrustsiteishometooneofthemostprolificbird-ringingoperationsintheUK.In2023 over
15,000birdswereringed.Thetrusthasbeenresponsibleforthetrainingofover1,000ringersfrom more
than50countriessinceitscreation.Theringerscometositeonavolunteerbasisinordertolearn and
train to become bird-ringers.
TheTrustcontinuestosupportoverseasornithologyprojectsnotablyresearchinThailandinto migratory
and endangered species.
TheTrustisnolongerpartoftheCountrysideStewardshipScheme.TheBasicPaymentSchemefor farms
runbytheRuralPaymentsAgencyfinishedin2023andrelatedfuturepaymentsto2027are being
steadilyreduced.Thiscanbeseeninthefactthatthegovernmentgrantshavereducedfrom£29,566 in
2023to£24,724in2024.TheTrusteescontinuetolookforalternativesourcesoffunding. Donations
fromthechairmanandrelatedgiftaidintheyearended5April2024totalled£356,250 (2023:£390,000).
It has been agreed that further donations will be made by the chairman in the next financial year.
TheinterestontheloantothetradingsubsidiaryisatacommercialrateandalignedtotheBank of
Englandbaserate.Theinterestreceivablewas£97,553in2023increasingslightlyto£103,270in 2024.
The Trustees will continue to support the trading subsidiary in the next financial year.
Rentalincomehasincreasedyear-on-yearfrom£96,211in2023to£103,240in2024.The Trustees
continuetomonitortheconditionoftheproperties,ensuresuitabletenantsandlookatwaysto diversify
in order to maintain this income stream.
All income is used to maintain the land and properties and further the objectives of the Trust.
Thecharity'stradingsubsidiarycompanyWinchelseaFarmFoodsLimitedwasincorporated8 November
2006.Thecompany'smainactivitiesaretherunningofashop.Duringtheyearended5April2024 the
company made a loss of £151,262.
Page 2
THE WETLAND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024
FINANCIAL REVIEW
Principal funding sources
Thechairmancontinuestoprovideloansupporttothetrust.Donationstothetrustbythechairman are
providedonatimelybasistomeetfinancialcommitments.Rentalincomederivedfromlettingout the
trust'spropertiesandfarmingsubsidiescontinuetobeasourceoffunding.Allthesefundingsources are
used to meet the day to day running costs involved in managing the land.
Inadditiontothesesourcesthetrustwillseekoutotherfundingsourcesfromenvironmental partners
with similar aims and objectives, as and when appropriate.
Reserves and investment policy
It is the policy of the charity to maintain unrestricted funds that can meet the management and
administration and support costs of the trust.
Itisanticipatedthatthetrust'slevelofreserveswillbemaintainedandwillbesufficienttosupport the
day to day running of the charity and its future activities.
Thetrust'sportfolioofinvestmentpropertiesisconstantlyunderreviewinordertomaximisethe income
andinvestmentpotential.Intheyearunderreview,therehasbeenarelossinthevalueof the
investmentpropertiesasbasedonavaluationbyanindependentprofessional.Thislossis consistent
withthevaluationoftheUKpropertymarketasawholeduringthesametimeperiod.The investments
areheldaslongtermandtheTrusteesarenotundulyconcernedaboutthereducedvaluationat this
stage and will continue to monitor and review the position.
Fixedassetsof£3,942,506andinvestmentpropertyof£5,733,769representthemajorityofthe charity's
reserves at 5 April 2024.
The reserves are reviewed on a regular basis.
FUTURE PLANS
TheTrustplanstocontinueandbuildonitscurrentactivities,andpossiblytoextendtheboundariesof its
naturereserveatIckleshamasandwhensuitablelandbecomesavailableforpurchase.Any land
purchasedwillbemanagedonanenvironmentallyfriendlybasis,andwhereverpossible,restored to
increasethebio-diversityinterest.TheTrustwillcontinuetosupportconservationactivitiesinavariety of
less developed overseas countries. In recent years these have included Thailand and Kenya.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
TheWetlandTrustisadministeredbyaboardoftrustees,allofthemservingalongsidethe paid
employeesthatoverseealltheprojectsonadaytodaybasisunderdelegatedauthority.The trustees
meet twice each year and receive regular reports from the staff between meetings.
Recruitment and appointment of new trustees
The power of appointing new trustees of the charity is vested in the settlor.
Anewtrusteemaybeappointedatanytime,eitherbywayofreplacementoraddition,solongas the
total number of trustees do not exceed eight at any time.
Atrusteemaybeappointedordischargedbyresolutionofameetingofthetrustees,providedthat a
memorandumissignedandsealedbyapresidingtrusteeandiswitnessedbytwootherpersonsat the
meeting.
Page 3
THE WETLAND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
NewtrusteesvisittheTrusttogainanunderstandingoftheworkundertakenandreceivean induction
pack on appointment as a trustee.
Key management remuneration
TheTrusteesreviewthepayofallemployeesonanannualbasis.Salariesaresetatalevelthat reflects
the work undertaken and the level of experience and expertise required.
Related parties
Thecharitycontinuestobeheavilyreliantonfinancialsupportfromthechairmanofthetrustees,SJ R
Rumsey,whichisprimarilyspentonthemanagementandmaintenanceofthePannelValley Nature
Reserve, together with support to various overseas conservation projects.
Risk management
TheboardofTrustees,workingcloselywiththepaidemployees,areawareofthemajorriskstothe trust
andworkwithallpartiestomitigateagainstthoserisksbyestablishingsystemsandprocedures to
manage those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
296531
Principal address
Elms Farm
Hog Hill
Winchelsea
East Sussex
TN36 4AH
Trustees
Mr S J R Rumsey
Mrs A Rumsey
Mr E W Rumsey
Auditors
GMP Audit Limited, Statutory Auditor
20 Eversley Road
Bexhill on Sea
East Sussex
TN40 1HE
Solicitors
Maddox Legal
Octagon Point
5 Cheapside
London
EC2V 6AA
Bankers
Coutts & Co
440 Strand
London
WC2R 0QS
Page 4
THE WETLAND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
ThetrusteesareresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatements in
accordancewithapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accounts and
Reports)Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestoprepare financial
statementsforeachfinancialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharity and
oftheincomingresourcesandapplicationofresources,includingtheincomeandexpenditure,of the
charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharityandtoenablethemtoensurethatthe financial
statementscomplywiththeCharitiesAct2011,theCharity(AccountsandReports)Regulations2008 and
theprovisionsofthetrustdeed.Theyarealsoresponsibleforsafeguardingtheassetsofthecharity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 31st January 2025 and signed on its behalf by:
Mr S J R Rumsey - Trustee
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE WETLAND TRUST
Opinion
WehaveauditedthefinancialstatementsofTheWetlandTrust(the'charity')fortheyear ended
5thApril2024whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCash Flow
Statementandnotestothefinancialstatements,includingasummaryofsignificantaccounting policies.
Thefinancialreportingframeworkthathasbeenappliedintheirpreparationisapplicablelawand United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 5th April 2024 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors'
responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the
charityinaccordancewiththeethicalrequirementsthatarerelevanttoourauditofthe financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical
responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcern basis
of accounting in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelating to
eventsorconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sability to
continueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are
authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in
the relevant sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent
Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information
and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial
statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we
identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine
whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,based on
theworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisother information,
we are required to report that fact. We have nothing to report in this regard.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE WETLAND TRUST
Matters on which we are required to report by exception
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrusteesareresponsiblefor the
preparationofthefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolas the
trusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sability to
continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusing the
goingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharityorto cease
operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportin accordance
with the Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are
freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a
guaranteethatanauditconductedinaccordancewithISAs(UK)willalwaysdetecta material
misstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if,
individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisions of
users taken on the basis of these financial statements.
Theextenttowhichourproceduresarecapableofdetectingirregularities,includingfraudis detailed
below:
-
Discussions with management which included consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
-
Reviewing, evaluating and testing systems and controls to assess their effectiveness to prevent and detect irregularities.
-
Identifying, reviewing and testing of journal entries.
-
Challenging assumptions and judgements made by management in respect of significant accounting estimates.
Thereareinherentlimitationsintheauditproceduresdescribedaboveandthefurther removed
non-compliancewithlawsandregulationsisfromthateventsandtransactionsreflectedinthe financial
statements,thelesslikelywewouldbecomeawareofit.Also,theriskofnotdetectinga material
misstatementduetofraudishigherthantheriskofnotdetectingoneduetoerror,asfraudmay involve
deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the
FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescription forms
part of our Report of the Independent Auditors.
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE WETLAND TRUST
Use of our report
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4ofthe Charities
(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstate to
thecharity'strusteesthosematterswearerequiredtostatetotheminanauditors'reportandfor no
otherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to
anyoneotherthanthecharityandthecharity'strusteesasabody,forourauditwork,forthisreport, or
for the opinions we have formed.
GMP Audit Limited, Statutory Auditor
20 Eversley Road
Bexhill on Sea
East Sussex
TN40 1HE
3rd February 2025
Page 8
THE WETLAND TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024
2024
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
356,350
-
356,350
Charitable activities
4
Nature Reserve
26,740
37,489
64,229
Investment income
3
206,509
-
206,509
Total
589,599
37,489
627,088
EXPENDITURE ON
Raising funds
5
97,822
-
97,822
Charitable activities
6
Nature Reserve
589,989
37,489
627,478
Individuals - Ecological & conservation
research
24,492
-
24,492
Other
81,680
-
81,680
Total
793,983
37,489
831,472
Net gains/(losses) on investments
(181,750)
-
(181,750)
NET INCOME/(EXPENDITURE)
(386,134)
-
(386,134)
RECONCILIATION OF FUNDS
Total funds brought forward
10,988,297
-
10,988,297
TOTAL FUNDS CARRIED FORWARD
10,602,163
-
10,602,163 |
2023
Total
funds
£
390,250
35,132
193,764
619,146
115,939
553,662
24,468
89,581
783,650
(546,610)
(711,114)
11,699,411
10,988,297 |
|
|
The notes form part of these financial statements
Page 9
THE WETLAND TRUST
BALANCE SHEET 5TH APRIL 2024
2024
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
FIXED ASSETS
Tangible assets
13
3,942,506
-
3,942,506
Investments
Investment property
14
5,733,769
-
5,733,769
Social investments
15
60,032
-
60,032
9,736,307
-
9,736,307
CURRENT ASSETS
Stocks
16
8,905
-
8,905
Debtors
17
2,217,754
-
2,217,754
Cash at bank and in hand
9,564
-
9,564
2,236,223
-
2,236,223
CREDITORS
Amounts falling due within one year
18
(120,147)
-
(120,147)
NET CURRENT ASSETS
2,116,076
-
2,116,076
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,852,383
-
11,852,383
CREDITORS
Amounts falling due after more than one
year
19 (1,250,220)
-
(1,250,220)
NET ASSETS
10,602,163
-
10,602,163
FUNDS
23
Unrestricted funds
10,602,163
TOTAL FUNDS
10,602,163 |
2023
Total
funds
£
3,962,324
6,565,519
60,032
10,587,875
11,390
2,063,238
17,084
2,091,712
(51,916)
2,039,796
12,627,671
(1,639,374)
10,988,297
10,988,297
10,988,297 |
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
31st January 2025 and were signed on its behalf by:
Mr S J R Rumsey - Trustee
The notes form part of these financial statements
Page 10
THE WETLAND TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 5TH APRIL 2024
Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Interest element of hire purchase
payments paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Sale of investment property
Interest received
Net cash provided by investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
New hire purchase in year
Capital repayments in year
Advanced to Group
Trustee loan advance/(repayment)
Net cash (used in)/provided by financing activities
Change in cash and cash
equivalents in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period |
2024
£
(131,417)
(97,968)
(231)
(229,616)
(60,544)
17,800
650,000
103,270
710,526
-
-
27,288
(4,548)
(122,016)
(389,154)
(488,430)
(7,520)
17,084
9,564 |
2023
£
(7,799)
(88,550)
-
(96,349)
(1,346)
-
-
97,553
96,207
1,250,000
(1,159,902)
-
-
(120,378)
37,540
7,260
7,118
9,966
17,084 |
|
|
|
The notes form part of these financial statements
Page 11
THE WETLAND TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 5TH APRIL 2024
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net expenditure for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Losses on investments
(Profit)/loss on disposal of fixed assets
Interest received
Interest paid
Interest element of hire purchase and finance lease rental
payments
Decrease in stocks
(Increase)/decrease in debtors
Increase in creditors
Net cash used in operations |
2024
£
(386,134)
79,081
181,750
(16,519)
(103,270)
97,968
231
2,485
(32,500)
45,491
(131,417) |
2023
£
(711,114)
66,971
546,610
1,531
(97,553)
88,550
-
-
78,453
18,753
(7,799) |
|
|
|
2.
ANALYSIS OF CHANGES IN NET DEBT
|
At 6/4/23 |
Cash flow |
At 5/4/24 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
17,084 |
(7,520) |
9,564 |
|
17,084 |
(7,520) |
9,564 |
Debt |
|
|
|
Finance leases |
- |
(22,740) |
(22,740) |
Debts falling due after 1 year |
(1,639,374) |
389,154 |
(1,250,220) |
|
(1,639,374) |
366,414 |
(1,272,960) |
Total |
(1,622,290) |
358,894 |
(1,263,396) |
The notes form part of these financial statements
Page 12
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
havebeenpreparedunderthehistoricalcostconvention,asmodifiedbytherevaluationof certain
assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Grantsarerecognisedinaccordancewiththeperformancemodelwithentitlementbeingwhen the
grantsareformallycommunicatedtothecharity,whenconditionsforitsreceipthave been
complied with, and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
related to the category.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Allocation and apportionment of costs
Wherecostscannotbedirectlyattributedtoparticularheadingstheyhavebeenallocated to
activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life:
Freehold property |
- 2% on cost |
|
- 5% on cost |
|
- 20% on cost |
Land |
- Nil |
Plant and machinery |
- 25% on reducing balance |
Office equipment |
- 33% on cost |
Motor vehicles |
- 25% on reducing balance |
Social investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares are measured at cost less accumulated impairment.
Investment property
Investment property is shown at fair value.
continued...
Page 13
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
1. ACCOUNTING POLICIES - continued
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for
obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Duetothenatureofthecharityalltheactivitiesareconsideredunrestrictedunless specifically
restricted.
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Debtors and creditors
Debtorsaremeasuredattheirrecoverableamounts,theamountthecharityanticipatesit will
receive from a debt or the amount it has paid in advance for goods or services.
Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfrom a
pasteventthatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountdue to
settletheobligationcanbemeasuredorestimatedreliably.Creditorsandprovisions are
recognised at their settlement amount.
Hire purchase and leasing commitments
Assetsobtainedunderhirepurchasecontractsorfinanceleasesarecapitalisedinthe Balance
Sheet.Thoseheldunderhirepurchasecontractsaredepreciatedovertheirestimateduseful lives.
Thoseheldunderfinanceleasesaredepreciatedovertheirestimatedusefullivesorthelease term,
whichever is shorter.
TheinterestelementoftheseobligationsischargedtotheStatementofFinancialActivities over
the relevant period. The capital element of the future payments is treated as a liability.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charity's
pensionschemearechargedtotheStatementofFinancialActivitiesintheperiodtowhich they
relate.
continued...
Page 14
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
2. DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Rents received
Interest on loan to Winchelsea Farm Foods Limited
4.
DONATED GOODS, FACILITIES OR SERVICES
Activity
Other income
Nature Reserve
Sale of crops and animals
Nature Reserve
Government grants
Nature Reserve
RSPB - HPAI Seabird
Colony Resilience &
Recovery Project
Nature Reserve |
2024
£
356,350
2024
£
103,239
103,270
206,509
2024
£
646
1,370
24,724
37,489
64,229 |
2023
£
390,250 |
2023
£
390,250 |
|
|
2023
£
96,211
97,553 |
|
|
|
193,764 |
|
|
|
|
2023
£
3,196
1,220
29,566
1,150 |
|
|
|
35,132 |
General volunteers
Fromtimetotime,individualsinterestedinornithologyandespeciallybirdringing,willcometo site
inordertolearnhowtoringbirds.Allbirdringersrequireapermit.Ringerswillreceive training
andinreturnfortheirassistanceinringingbirdsonthetrust'sland,theywill receive
accommodationforthedurationoftheirvisit.Thesevisitsareshorttermandnootherbenefits or
remuneration are given. No monetary value has been recognised in the accounts.
The government grants are from the Rural Payments Agency.
RSPB - HPAI:
RecoveryprogrammefollowingAvianfluandimprovingtheenvironmentfornestingseabirds. This
project was completed in 2023/24.
RSPB - Wetland enhancement:
WetlandenhancementofthePannelValley.Thisprojectisduetocommencein2024/25 with
completionduein2025/26.Thetimingoftheworkisbasedonthemigrationandnesting patterns
of the birds.
continued...
Page 15
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
5. RAISING FUNDS
Investment management costs
Staff costs
Carters properties
Little Ashes
White Swan
Elms Farm
Rye & Winchelsea Properties
Camden Cottage
Luxford Farm
Jordans Farm
Letting expenses
Rental property selling fees
Support costs |
2024
£
34,419
12,115
789
3,896
21,681
(14,621)
140
2,015
379
600
21,957
14,452
97,822 |
2023
£
33,507
5,600
4,265
4,222
20,024
22,475
236
5,368
284
-
-
19,958 |
|
|
115,939 |
Investmentmanagementcostsconsistsoftherepairsandotherexpensesincurredon the
investment properties.
6. CHARITABLE ACTIVITIES COSTS
Nature Reserve
Individuals - Ecological &
conservation research |
Direct
Costs (see
note 7)
£
592,345
-
592,345 |
Grant
funding of
activities
(see note
8)
£
-
24,000
24,000 |
Support
costs (see
note 9)
£
35,133
492
35,625 |
Totals
£
627,478
24,492 |
|
|
|
|
651,970 |
continued...
Page 16
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Livestock feed and vets
Donations and subscriptions
Travel and accommodation
Equipment
Habitat management
Track and fencing
General costs and tools
Vehicle and equipment maintenance
Health and safety
HPAI project costs
Opening value of livestock
Closing value of livestock
Consultancy expenses
Depreciation
8.
GRANTS PAYABLE
Individuals - Ecological & conservation research
9.
SUPPORT COSTS
Management
£
Investment management costs
12,582
Nature Reserve
18,307
Individuals - Ecological & conservation
research
492
31,381 |
2024
£
295,707
38,868
734
-
2,590
13,303
17,005
11,041
86,727
804
41,497
11,390
(8,905)
2,503
79,081
592,345
2024
£
24,000
Governance
costs
£
1,870
16,826
-
18,696 |
2023
£
241,810
27,252
1,226
188
-
8,293
19,943
14,998
78,176
1,204
1,150
11,390
(11,390)
2,796
66,971
464,007
2023
£
24,000
Totals
£
14,452
35,133
492
50,077 |
|
|
|
Investmentmanagementcostsconsistsoftherepairsandotherexpensesincurredon the
investment properties.
continued...
Page 17
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
9. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
Individuals
Investment
- Ecological
management
Nature
& conservation
costs
Reserve
research
£
£
£
Insurance
11,866
11,866
-
Administration and IT
716
5,580
492
Bookkeeping services
-
861
-
12,582
18,307
492
Governance costs
Investment
management
Nature
costs
Reserve
£
£
Wages
460
4,139
Social security
51
458
Pensions
37
331
Auditors' remuneration
1,058
9,522
Auditors' remuneration for non audit
work
255
2,295
Legal and professional fees
9
81
Loan arrangement fees
-
-
1,870
16,826 |
2024
Total
activities
£
23,732
6,788
861
31,381
2024
Total
activities
£
4,599
509
368
10,580
2,550
90
-
18,696 |
2023
Total
activities
£
22,488
5,808
754
29,050
2023
Total
activities
£
4,450
514
356
7,260
2,550
-
65,901
81,031 |
|
|
|
10. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5thApril2024nor for
the year ended 5th April 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended5thApril2024norfortheyear ended
5th April 2023.
continued...
Page 18
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024
11. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
2024
£
288,390
27,982
19,230
335,602 |
2023
£
240,342
23,789
16,506 |
|
|
280,637 |
Totalremunerationreceivedbykeymanagementpersonnelintheyearwas£41,400 (2023:
£40,150).
The average monthly number of employees during the year was as follows:
Nature reserve
No employees received emoluments in excess of £60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
390,250
Charitable activities
Nature Reserve
35,132
Investment income
193,764
Total
619,146
EXPENDITURE ON
Raising funds
115,939
Charitable activities
Nature Reserve
553,662
Individuals - Ecological & conservation
research
24,468
Other
89,581
Total
783,650
Net gains/(losses) on investments
(546,610)
NET INCOME/(EXPENDITURE)
(711,114) |
Nature reserve
No employees received emoluments in excess of £60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
390,250
Charitable activities
Nature Reserve
35,132
Investment income
193,764
Total
619,146
EXPENDITURE ON
Raising funds
115,939
Charitable activities
Nature Reserve
553,662
Individuals - Ecological & conservation
research
24,468
Other
89,581
Total
783,650
Net gains/(losses) on investments
(546,610)
NET INCOME/(EXPENDITURE)
(711,114) |
2024
10
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
- |
|
2023
8
Total
funds
£
390,250
35,132
193,764
619,146
115,939
553,662
24,468
89,581
783,650
(546,610)
(711,114) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 19
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024
12. |
COMPARATIVES FOR THE STATEMENT |
COMPARATIVES FOR THE STATEMENT |
OF FINANCIAL ACTIVITIES - continued |
OF FINANCIAL ACTIVITIES - continued |
OF FINANCIAL ACTIVITIES - continued |
|
|
|
|
|
Unrestricted |
Restricted |
Total |
|
|
|
|
fund |
funds |
funds |
|
|
|
|
£ |
£ |
£ |
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
|
Total funds brought forward |
|
|
11,699,411 |
- |
11,699,411 |
|
TOTAL FUNDS CARRIED FORWARD |
|
|
10,988,297 |
- |
10,988,297 |
13. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
|
|
Fixtures |
|
|
|
|
Freehold |
Plant and |
and |
Motor |
|
|
|
property |
machinery |
fittings |
vehicles |
Totals |
|
|
£ |
£ |
£ |
£ |
£ |
|
COST |
|
|
|
|
|
|
At 6th April 2023 |
5,543,335 |
732,482 |
18,457 |
47,768 |
6,342,042 |
|
Additions |
- |
60,544 |
- |
- |
60,544 |
|
Disposals |
- |
(50,410) |
(1,157) |
- |
(51,567) |
|
At 5th April 2024 |
5,543,335 |
742,616 |
17,300 |
47,768 |
6,351,019 |
|
DEPRECIATION |
|
|
|
|
|
|
At 6th April 2023 |
1,613,579 |
700,380 |
18,453 |
47,306 |
2,379,718 |
|
Charge for year |
56,123 |
22,844 |
- |
114 |
79,081 |
|
Eliminated on disposal |
- |
(49,129) |
(1,157) |
- |
(50,286) |
|
At 5th April 2024 |
1,669,702 |
674,095 |
17,296 |
47,420 |
2,408,513 |
|
NET BOOK VALUE |
|
|
|
|
|
|
At 5th April 2024 |
3,873,633 |
68,521 |
4 |
348 |
3,942,506 |
|
At 5th April 2023 |
3,929,756 |
32,102 |
4 |
462 |
3,962,324 |
Includedinfreeholdpropertyis£3,611,251(2023-£3,611,251)ofassetsthatare not
depreciated.
continued...
Page 20
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
13. TANGIBLE FIXED ASSETS - continued
Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
COST
Additions
DEPRECIATION
Charge for year
NET BOOK VALUE
At 5th April 2024
At 5th April 2023
14.
INVESTMENT PROPERTY
FAIR VALUE
At 6th April 2023
Disposals
Revaluation
At 5th April 2024
NET BOOK VALUE
At 5th April 2024
At 5th April 2023 |
|
Plant and
machinery
£
40,545
10,136
30,409
-
£
6,565,519
(650,000)
(181,750)
5,733,769
5,733,769
6,565,519 |
|
|
|
|
|
|
|
|
|
Investmentpropertiesarerevaluedannuallybyanindependentestateagent,apartfrom one
valued by the trustees.
Fair value at 5th April 2024 is represented by:
Valuation in 2017
Valuation in 2018
Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
Cost |
£
305,000
142,326
(93,288)
265,714
129,167
140,574
(546,610)
(181,750)
5,572,636
5,733,769 |
|
|
continued...
Page 21
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
15. SOCIAL INVESTMENTS
MARKET VALUE
At 6th April 2023 and 5th April 2024
NET BOOK VALUE
At 5th April 2024
At 5th April 2023 |
Other
investments
£
60,032
60,032
60,032 |
|
|
Included in Programme Related Investments are the following:
NHBSLimited,acompanywhichsupplylibrariesandorganisationsaroundtheworldwith natural
history, environment and science title books.
WinchelseaFarmFoodsLimited,a100%subsidiary,isacompanyinwhichitsprincipalactivity is
that of running a shop.
16. STOCKS
Livestock
17.
DEBTORS
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Loans to group undertakings
Aggregate amounts |
|
|
|
continued...
Page 22
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
18. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Hire purchase (see note 21) |
|
22,740 |
- |
|
Trade creditors |
|
18,096 |
30,282 |
|
Taxation and social security |
|
21,750 |
6,414 |
|
Other creditors |
|
57,561 |
15,220 |
|
|
120,147 |
|
51,916 |
|
Other creditors includes deferred income of £1,250 (2022: £3,100) being rent received |
|
|
in advance. |
19. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans (see note 20) |
1,250,000 |
|
1,250,000 |
|
Other creditors |
|
220 |
389,374 |
|
|
1,250,220 |
|
1,639,374 |
20. |
LOANS |
|
|
|
|
An analysis of the maturity of loans is given below: |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Amounts falling between one and two years: |
|
|
|
|
Loan from Trustees |
|
220 |
389,374 |
|
Amounts falling due between two and five years: |
|
|
|
|
Bank loans - 2-5 years |
1,250,000 |
|
1,250,000 |
21. |
LEASING AGREEMENTS |
|
|
|
|
Minimum lease payments under hire purchase fall due as follows: |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Net obligations repayable: |
|
|
|
|
Within one year |
|
22,740 |
- |
continued...
Page 23
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
22. SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
Hire purchase contracts |
2024
£
1,250,000
22,740
1,272,740 |
2023
£
1,250,000
-
1,250,000 |
|
|
|
Thebankloanissecuredbyachargedated19January2023onthreepropertiesheld within
Investment Properties with a combined Fair Value totalling £2,394,000.
Thehirepurchaseissecuredontheequipmentwhichitrelatestountilsuchtimeastheoption to
purchase is exercised.
23. MOVEMENT IN FUNDS
At 6/4/23
£
Unrestricted funds
General fund
10,988,297
TOTAL FUNDS
10,988,297 |
Net
movement
At
in funds
5/4/24
£
£
(386,134) 10,602,163
(386,134) 10,602,163 |
|
|
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
RSPB - HPAI
TOTAL FUNDS |
Incoming
resources
£
589,599
37,489
627,088 |
Resources
expended
£
(793,983)
(37,489)
(831,472) |
Gains and
losses
£
(181,750)
-
(181,750) |
Movement
in funds
£
(386,134)
-
(386,134) |
|
|
|
|
|
continued...
Page 24
THE WETLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2024
23. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At 6/4/22
£
11,699,411
11,699,411 |
Net
movement
in funds
£
(711,114)
(711,114) |
At
5/4/23
£
10,988,297 |
|
|
|
10,988,297 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
619,146
619,146 |
Resources
expended
£
(783,650)
(783,650) |
Gains and
losses
£
(546,610)
(546,610) |
Movement
in funds
£
(711,114)
(711,114) |
|
|
|
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 6/4/22
£
11,699,411
11,699,411 |
Net
movement
in funds
£
(1,097,248)
(1,097,248) |
At
5/4/24
£
10,602,163 |
|
|
|
10,602,163 |
continued...
Page 25
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024
THE WETLAND TRUST
23. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,208,745
(1,577,633)
Restricted funds
RSPB - HPAI
37,489
(37,489)
TOTAL FUNDS
1,246,234
(1,615,122)
|
Gains and
Movement
losses
in funds
£
£
(728,360)
(1,097,248)
-
-
(728,360)
(1,097,248) |
|
|
24. EMPLOYEE BENEFIT OBLIGATIONS
Thecharityoperatesadefinedcontributionpension.ContributionsarechargedtotheStatement of
Financial Activities in the period to which they relate.
Thetotalcontributionspaidintheyearareshowninthestaffcostsnotetotheaccounts.At the
balance sheet date £1,879 (2023: £1,589) was owed by the charity.
25. RELATED PARTY DISCLOSURES
The following transactions occurred in the year in connection with related parties:
ThereisaloantoWinchelseaFarmFoodsLimited,awhollyownedtradingsubsidiary, of
£2,168,681(2023-£2,046,665).Theloanwasmadeonanarmslengthbasisandinterest is
chargedatcommercialrates.Thisloanisrepayableondemandbutthetrusthasindicated its
willingnesstodeferanyrepaymentofthisloanuntilaftermorethanoneyear.ThedirectorMrS J
RRumseyhasgivenapersonalguaranteeinsupportofthefullamountoftheloanowedto The
Wetland Trust.
ThereisaloanfromthetrusteesMrSJRandMrsARumsey,of£220(2023:£389,374). No
interestischargedontheloan.Theloanisdueaftermorethanoneyearandisnotdiscountedas it
is from trustees.
DuringtheyearthetrusteeMrSJRRumseydonated£356,250tothecharitywithout any
conditions.
Page 26
THE WETLAND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Rents received
Interest on loan to Winchelsea Farm Foods
Limited
Charitable activities
Other income
Sale of crops and animals
Government grants
RSPB - HPAI Seabird Colony Resilience &
Recovery Project
Total incoming resources
EXPENDITURE
Investment management costs
Wages
Social security
Pensions
Carters properties
Little Ashes
White Swan
Elms Farm
Rye & Winchelsea Properties
Camden Cottage
Luxford Farm
Jordans Farm
Letting expenses
Rental property selling fees
Charitable activities
Wages
Carried forward |
2024
£
356,350
103,239
103,270
206,509
646
1,370
24,724
37,489
64,229
627,088
28,980
3,121
2,318
12,115
789
3,896
21,681
(14,621)
140
2,015
379
600
21,957
83,370
254,811
254,811 |
2023
£
390,250
96,211
97,553 |
|
|
193,764
3,196
1,220
29,566
1,150 |
|
|
35,132 |
|
|
619,146
28,105
3,154
2,248
5,600
4,265
4,222
20,024
22,475
236
5,368
284
-
- |
|
|
95,981
207,787
207,787 |
This page does not form part of the statutory financial statements
Page 27
THE WETLAND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024
Charitable activities
Brought forward
Social security
Pensions
Livestock feed and vets
Donations and subscriptions
Travel and accommodation
Equipment
Habitat management
Track and fencing
General costs and tools
Vehicle and equipment maintenance
Health and safety
HPAI project costs
Opening value of livestock
Closing value of livestock
Consultancy expenses
Freehold property
Plant and machinery
Motor vehicles
Grants to individuals
Other
(Profit) / loss on sale of tangible fixed
assets
Interest payable
Hire purchase
Support costs
Management
Insurance
Administration and IT
Bookkeeping services
Governance costs
Wages
Social security
Pensions
Auditors' remuneration
Auditors' remuneration for non audit work
Carried forward |
2024
£
254,811
24,352
16,544
38,868
734
-
2,590
13,303
17,005
11,041
86,727
804
41,497
11,390
(8,905)
2,503
56,123
22,844
114
24,000
616,345
(16,519)
97,968
231
81,680
23,732
6,788
861
31,381
4,599
509
368
10,580
2,550
18,606 |
2023
£
207,787
20,121
13,902
27,252
1,226
188
-
8,293
19,943
14,998
78,176
1,204
1,150
11,390
(11,390)
2,796
56,123
10,696
152
24,000
488,007
1,031
88,550
-
89,581
22,488
5,808
754
29,050
4,450
514
356
7,260
2,550
15,130 |
|
|
|
This page does not form part of the statutory financial statements
Page 28
THE WETLAND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024
2024
£
Governance costs
Brought forward
18,606
Legal and professional fees
90
Loan arrangement fees
-
18,696
Total resources expended
831,472
Net expenditure before gains and
losses
(204,384)
Fair value movement
Increase/(decrease) in fair value of
investment property
(181,750)
Net expenditure
(386,134) |
2023
£
15,130
-
65,901
81,031
783,650
(164,504)
(546,610)
(711,114) |
|
|
This page does not form part of the statutory financial statements
Page 29