Charity registration number 501038 Company registration number 01019263 (England & Wales) {A company limited by guarantee) Durham Wildlife Trust Annual report and financial statements For the year ended 31 March 2025 DURHAM WILDLIFE TRUST CONTENTS Page Legal and administrative infomiation Trustees, Report 3-14 Independent Auditors Report 15-17 Consolidated Statement of Financial Activities 18-19 Consolidated Balance Sheet 20 Charity Balance Sheet 21 Cash Flow Statement 22 Notes to the Consolidated Financial Statements 23-40 DURHAM WILDLIFE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees S Lister (Chair) P Bell M Coates C Gomian A Pensom SDBell Prof W Oxbury R Arrowsmith I Cole K Crozier S Wilson-Laing N Bell H Neve P Davidson Dr V Kent F Butler (Resigned 21 October 2024) (Resigned 21 October 2024) (Resigned 21 October 2024) (Resigned 21 October 2024) (Appointed 21 October 2024) (Appointed 21 October 2024) (Appointed 21 October 20241 (Appointed 21 October 2024) (Resigned 14 April 2025) (Resigned 20 May 2024) Secretary F Butler Management Team J Cokill - Trust Director M Porton - Head of Finance E Routledge - Head of Development and Communications M Dinning - Head of Conservation Company Registration Number 01019263 (England & Wales) Charity Registration Number 501038 Registered office Rainton Meadows Chilton Moor Houghton Le Spring Tyne And Wear DH4 6PU Bankers Barclays Bank PIC Lei￿ster LE87 2BB Unity Trust Bank PO Box 7193 Planetary Road, Willenhall WV19DG CCLA PO Box 12892 Dunmow. Essex CM6 9DL DURHAM WILDLIFE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Auditors Robson Laidler Accountants Limited Femwood House Fernwood Road Jesmond Newcastle upon Tyne NE2 1TJ DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial slatements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charily's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Structure Governance and Mana ement Durham Wildlife Trust is a charitable company limited by guarantee that was first incorporated on the 30th of July 1971 and does not have share capital. The Members of the company are the Trustees who served during the year and are named above. In the event of the charity being wound up. the liability in respect of each member is limited to £1. Durham Wildlife Trust Limited is govemed by its Memorandum and Articles of Association, which have been reviewed and amended since incorporation to ensure that they remain fit for purpose. Those documents are supported by policies and Procedures that are designed to ensure effective governance of the charity's activities and management. Anyone can become a member of the charity by paying a subscription and eligible members can then seek to become a trustee. ointment of Trustees The charity is managed by a Board of Trustees who are Directors of the charitable company, as well as its Trustees for the purpose of charity law. Throughout this report they are referred to as Trustees. The officers of the Trust comprise a Chair, Secretary and Treasurer. As set out in the Articles of Association, all members aged 16 and over are eligible to join the Board of Trustees, provided they are not legally disqualified from doing so. The Board consists of not less than 10 and not more than 15 elected members. The Trust's membership is notified of the opportunity to seek election to the Board prior to the Annual General Meeting (AGMI. A Truslee recruitment procedure is in place and the Board conducts an annual audit of Trustees to identify knowledge and skills gaps that the recruitment process can help to address. Following a nomination process, new Trustees are appointed at the AGM by a vote of Ihe Trust members in attendance. Truslees elected in this way must retire at the fourth AGM following their election. although they are eligible for re-election to serve a second 4-year tenn. After their second 4-year term Trustees must Stand down for a minimum of 12 months before they can seek re-election. The exceptions to this rule are the Chair, who can serve for up lo six years, and the Treasurer, who is elected annually with no stipulation on the maximum period of office. The Board may also co-opt additional Trustees at any time and Trustees appointed by this method must retire from office at the next Annual General Meeting. Trustee Induction and Trainin New Trustees undertake an induction process set out in a written induction procedure. This process provides information on their legal obligations under charity and company law and the management and operation of thp. r.h2rily. An indiietion pack is provided and includes items SLich as the goveming document. Board minutes and audited accounts. New Trustees also meet key employees of the charity and have the opportunity to visit its nature reserves and current project sites. The charity encourages further ongoing training for Trustees, either in-house or through extemal providers, to help them to undertake their role. DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 anisation The Trustees administer the charity, sitting as members of the Board. The Board meets at least four times each year and appoints advisory committees to provide specialist consideration and supp)rt. A Director is appointed by the Trustees to manage the day-to-day operations of the charity. A number of committees, which are usually comprised of several members of the Board and senior members of staff. report directly to the Board. Staff Remuneration Remuneration for all staff is based on comparison against similar roles in the charity sector. Inflation awards are applied equally to all eligible members of staff and the level of award is decided by Trustees and is only awarded if considered affordable. Trustees made a 5 1 inflation award in April 2024. The total salary bill for the year ended 31st March 2025 for the Trust Director and 4 other members ofthe management team was £231,046 including employer pension contributions. During the year the highest salary in the Trust was 2.66 times larger than the lowest salary. Related Parties The charily delivers many of its objectives through partnership working with other voluntary groups, local authorities and government agencies. There is no formal representation of these partners on the charity's Board. During the year none of the Trustees claitned travelling expenses while engaged on Trust business and volunteering. The charily is a member of the Royal Society of Wildlife Trusts (RSWT - charity number 207238), which acts as an umbrella body carrying out lobbying, national campaigning and other functions on behalf of all Wildlife Trusts. Member charities have Ihe use of the Wildlife Trusts logo and benefit from the resources, best practice and experience of other member Trusts. Membership gives Durham Wildlife Trust a national voice and profile, as well as respectability by association for those unfamiliar with its work. However, each member of the RSWT remains an entirely separate charity and is independent in terms of governance. Risk Mana ement The Trustees regularly identify and review the major risks the charity may face. This infomiation is used to develop a Risk Register, which records the systems and procedures which the charity will implement to mitigale the risks that have been identified. The Finance. Audit and Risk committee reviews the Risk Regisler at each of its four meetings a year. Attention is always paid to risks relating to Health and Safety and Safeguarding given the charity's work on practical land management and the engagement and education of children and adults. Health and Safety and Safeguarding are items on the agenda at every Board meeting. Governance processes and Trust policies and procedures are reviewed on an annual basis to ensure they are fit for purpose and reflect current best practice. Strate Durham Wildlife Trust began implementation of a new strategy in April 2023 (2030 From Tees to Tyne), which guides delivery by the charity. The strategy aims to inspire and encourage our staff, supporters and partners to take the action needed to bring nature back between the Tees and the Tyne. The strategy aligns with intemational, UK and Royal Society of Wildlife Trusts (RSWT) goals to deliver 30 % of land and sea protected for nature by 2030 (30 by 30). This global ambition will only be realised through effective local action by communits'es across Ihe world. Durham Wildlife Trust's 2030 Strategy sets out our route map for how working in partnership with the people who live and work be￿een the Tees and the Tyne will deliver 30 by 30. DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The sirategy is a living document that will be reviewed and updated throughout Its life. Individual actions and initiatives will change in the light of better ideas, insights and in response to funding opportunities and operational constraints. Durham Wildlife Trust's 2030 strategy has been created through the passion, commitmenl, expertise and energy of our Trustees, employees and volunteers. For it to be effective it needs the support of everyone across our region- the people, communities, businesses and institutions thal rely on our region's natural environment for their own health and prosperity. Executive summary The key aspects of the strategy are set out below. They reflect the 3 key goals of the strategy.. Nature in Recovery (30°/o of land and sea by 2030) 40,OOOha of additional larid improved for nature and the restoration of natural processes. 1000ha of this to be additional land managed by Durtiam Wildlife Trust. Robust local metrics and data gathering to monitor progress. Exemplary land management of our own eslate. 2. Meaningful Action (1 in 4 people involved) Adopting the 'Team Wilder, approach and a sub-region operational model based on local communities. Embracing supporters of all kinds and diversifying our audiences. Providing improved visitor destinations. Growing our public profile, operational partnerships and influence to bring about real change. 3. Nature-based Solutions (nature central to solving local and global problems) Durham Wildlife Trust is the local leader in Biodiversity Net Gain and other natural capital solutions. There will be an evidenced-based well-being focus across our activities. We will have a strategic approach to projects with nature-based benefits to highlight natural flood management, carbon sequestration, eco-tourism. water quality benefits (e.g. as realised by the Great North Fen). To deliver our Goals the Trust has identified 3 Strategic Transformations.. 1 Community Organising. 2 Embracing Digital. 3 Step Change in Funding. Linked lo these are 3 Enabling Priorities for the Trust= 1 Getting our own house in order. 2 Improving data and evidence base. 3 Investing in our people. The strategy leads to several implications for the Trust and its operations= Finance - transforming to an organisation that consistently generates annual income of more than £6 million. Govemance- delivering greater connection with local communities and increased trustee participation. Branding- ensuring branding matches local delivery needs. Reputation- ensuring new ways of generating income do not compromise our values and culture. Staff recruitment and retention - growing staff numbers to facilitate the delivery of the Strategy. DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Supporters and partnerships - new thinking to be embedded across the organisation. Skills and knowledge - improving our skill and knowledge base lo allow us to deliver our ambitions. Achievements and Performance Nature Recove The Durham Wildlife Trust 2030 Strategy sets bold targets for land acquisition. During 2023 and 2024 several large scale land purchases were made possible via nutrient credits under Natural England's Nutrient Neutralily scheme for the River Tees. These purchases meant that the Trust began 2024-25 with 1334 ha of land. Nutrient Neutrality funding was not available during 2024-25 and land acquisitions have been more modest as a result. In September 2024 Satley Glebe was secured on lease from Durham Diocese. Satley Glebe is 10ha of grassland and woodland to the west of the village of Satley. The Steeley Bum, a tributary of the River Browney runs through the site. placing Satley Glebe c. 3km upstream from Trust reserves at Black Plantation and Ragpath Heath. This adds to Durham Wildlife Trust's landscape scale nature restoration work in the upper reaches of this catchment. The Trust completed the purchase of 4ha of land immediately adjoining Town Kclloc Bank SSSI in November 2024. This new land, which has been fam)ed in an arable rotation for a number of years, sits above the Trust's existing Town Kelloe Bank SSSI nature reserve. As a result, nutrient rich run off from this field has been having a negative effect on the SSSI'S important features. Acquiring this land means that the rare habitats and species of the SSSI are better protected. The new land will be restored to grassland and scrub habitats to complement those on the exisbng nature reserve. The purchase ot this land was supported through funding from Durham County Council. Following the completion of a new lease for Rainton Meadows in January 2024, which provided security of tenure until 2073 and expanded the area of land managed by the Trust. further land became available for purchase. This site had been subject to unsuccessful planning applications for housing, with objections submitted by the Trust highlighting the damage the development would do to the Rainton Meadows nature reserve and the important species it supports, such as the willow tit. To prevent further development proposals being submitted in future. the Trust detem)ined to try and purchase the land, the majority ofwhich consisls of semi-improved grassland, bul also includes ecologically significant grasslands that are part of a Local Wildlife Site. The Trust completed the acquisition of this 16ha of land in February 2025, funded by Biffa Award and private donations. At 31st March 2025, the Trust had a suite of 54 sites under its management, covering 1374ha of land. The expansion of existing nature reserves {e.g. at Rainton Meadows and Town Kelloe Bank) is an important step in making those sites more resilient, particularly with reference to climate change and strengthens existing wildlife networks. Works required under DEFRA agri-environment agreements across the Trust's land holding continLied to be delivered as required and income from this source supports ongoing site management and nature conservation efforts. In January 2024 the Trust secured additional funding through the new Sustainable Farming Incentive. Tlie inCred￿le iii Ilie bi£e uf Tiutsl's esldle ITI ieLeril yedlb, luyellivi willi Glidriy¥b iii l¥yiblciliuii, lias allowed the Trust to explore new methods of nature restorab-on. Statutory Biodiversity Net Gain (BNGI became a legal requirement for most new developments in February 2024. BNG requires developers lo provide at least 110'/o of the biodiversity value (measured in 'units') found on the site prior to their development. BNG can be delivered either fully or in part through on-site habitat or off-site habitat establishment and maintenance. A market has grown for third party providers such as Wildlife Trusts to provide units. Throughout the remainder of 2024 and 2025 the Trust drew up a number of options and delivery plans for BNG provision on its land holding. with the first schemes going live during 2025 - 26. BNG DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 delivery will enable nalure restoration to be tunded over a 30-year agreement period and will increase the resources available to the Trust to deliver nature's recovery. BNG is just one green finance option for land management, with markets in place or emerging around carbon and nutrient off-setting as well as other opportunities. The Trust launched the Skerne Natural Environment Investment Readiness Fund INEIRF) project in October 2024. NEIRF grants up to £100,000 were made available to environmental groups, local authorities, businesses and other organisations to help them develop nature projects in England to a point where they can attract private investment. Round 3 (of which the Trust's project is partl was aimed at supporting England's farmers. The outputs of the Skerne NEIRF will be a blueprint for private landowners and farmers in the Skerne catchment to realise green investment opportunities to diversify their business and deliver nature recovery outcomes. It continues the work delivered wilh farmers in the Skeme under the Discover Brightsvater project. Discover Brightwater drew to a formal close in March 2025 and has successfully completed a wide range of heritage projects across the catchment of the River Skerne. In all, Discover Brigh￿ater secured £4.7m of funding and delivered a wide range of activity across 20 work streams be￿eell July 2018 and December 2024. As a National Lottery Heritage Fund Landscape Partnership scheme, the majority of funding came thariks to players of the National Lottery (approximately £2.6m). but there were also substantial contributions from the Environmenl Agency. Veolia Environmental Trust and Durham County Council. BrIgh￿ater'S success was largely due to the wde range of partners engaged in the project, from delivery partners such as Groundwork NE & Cumbria who also employed some of the project team, Tees Rivers Trust and the local authorities in County Durham and Darlington and to those organisations who offered guidancc as membcr- of thc projcct,. Board. August 2024 saw the commencement of Durham Wildlife Trust's main projects delivered as part of Discover 8rightwater- habitat restoration work at Bishop's Fen and Ricknall Carrs. These schemes have delivered wetland habitat restoration al both sites and Bishop's Fen was formerly opened as a Durham Wildlife Trust nature reserve in October 2024 by The Venerable Rick Simpson, Archdeacon of Auckland. The same event also served as the formal launch of the Great North Fen as part of Brightwater's long-term legacy: an ongoing initiative that aims to deliver 850ha of enhanced habitats and nature recovery across the catchment of the River Skerne by 2042. Activily across the Skerne during the year was complemented by the ongoing work with Northumbrian Water to examine opportunities for Nature Based Solutions that can deliver water quality improvements. The Trust also continued to work with Northumbrian Water on the Bluespaces initiative, which supports projects to improve access and enhance habitats along our watetways and coast. Support for nature recovery efforts was enhanced by investment in roles that support the recruitment and retention of volunteers and better data provision to inform our work. These posts were initially supported by the New to Nature scheme and have helped the Trust to significantly improve the quality and scope of its work. The Trusl's Exmoor pony herd has continued to deliver conservation grazing across nature reserves and the Trust's volunteer Pony Wardens have once again provided indispensable support for the equine members of the Trust's Reserves Team. The Trust secured funding from National Lottery Heritage Fund for the Links with Nature project in May 2024. This 2-year project focusses on sites across the Sunderland Coalfield area, in particular the catchment of the Lumley Park Burn. The project aims to make use of social prescribing to engage volunteers to support delivery of habitat and access improvements on Sunderland City Council owned sites. The council is supporting the projecl with funding it has received to deliver those improvements, demonstrating highly effective partnership working between local government and the voluntary sector. DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Seascapes was a National Lottery Heritage Fund 5UPPOrted partnership project led by Durhi4fTI Herilcly¥ Coast. Durham Wildlife Trust delivered the Intertidal Interactive programme, to encourage people and groups of all ages to enjoy coastal and marine wildlife. This project compleled in September 2024 and highlights included volunteer monitoring programmes for shore birds and cetaceans, beach-based school activities and snorkelling experiences for school aged children. In addition. Seascapes funded the Trust's little tem conseNation efforts along the Durham and Hartlepool coasts. In 2024, the tems nested and bred at Seaton Carew with 185 chicks hatching and an estimated 145 of those fledging. Stronger Shores is a Defra funded project, part of the £200 million Flood and Coastal Innovation Programmes managed by the Environment Agency that is led by South Tyneside Council. The project aims to increase the resilience of the North Eastem coastline. and coastal communities, to flooding, erosion and the impacts of climate change. As part of this programme. the Trust hosl two officers on behalf of the wider North Sea Wildlife Trusts. One role focuses on the importance of these often hidden marine habitats to people and communities along the North East coast and the second is delivering a tesl and trial programme on seagrass and kelp restorabon techniques. Stronger Shores represents a real advance in Durham Wildlife Trust's marine conservation capacity and ambitions. Following the completion of Naturally Native in 2023 the Trust was able to continue to support ongoing voILJnteer work to monitor water vole and control mink populations. The Trust's work in this area was supported by a grant from DEFRA in 2024 and maintains efforts to conserve the iconic water vole from Tees to Tyne. Develo ment and Communications Despite the continuing cost of living Gfisis, membership in 24125 grew by 1 /0 on the previous year. Income from membership subscriptions also grew by l %, following a longer-term trend of a slow increase in the average membership gift. Trust membership recruitment was 7 % higher than the previous year, due to an increase in memberships recruited online through the Durham Wildlife Trust and Wildlife Trusts websites. There were 240/0 fewer membership lapses than the previous year and as a result the retention rate for membership grew by 10/0, to 93 /0. Membership remains a reliable source of regular funds for the Trust and membership performance reflects the supporter led approach the Trusl takes to fundraising. Volunteering remains a key area of development for the Trust. In 24-25 376 volunteers gave 28,485 hours to the Trust, a 17.5 % increase in the number of active volunteers and 3 5.5 % increase in volunteer time compared to the previous year. This activity is reflective of the continued support available to volunteers within the Trust and the increase in the number and variety of volunteering sessions available. In 24125 retail income was £37,303, (2024 £39.589) representing a stnall decrease on the previous year. The Gift Sliop al Rainton Meadows. retail Spa￿ at Low Bain5 and the sale of goods al external events and online have all contributed to the successful retail offering and would not have been possible without the contribution of volunteers, for which the Trust is extremely thankful. General donations income decreased compared to the prior year at £50,065 (2024 £59,406) and this may have been due to donors choosing to contribute to the successful Rainton Meadows appeal which is discussed later. Room hire contributed £6,490 (2024 - £7.815) of additional funds. In addition, legacy income provided £18,51412024 £134,554) of additional funding to supporl the Trust's work. Promotion of gifts in wills continues to be a key area of work for the Development team. Businesses contributed to the Trusts work in 24-25 via business membership contributions and paid for volunteering through the 'Wild Work Day, scheme. generating £4.700 (2024 £3.1001 while also supporting the management of nature reserves. Project development and grants fundraising retnains a core activity for the Tnjst. In financial year 24125, over £1m of project funds were secured through applications to various funders. In addition. Trust Officers supported a number of community groups in their own efforts to secure grants to support nature recovery projects. DURHAM WILDLIFE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 In June 2024, Durham Wildlife Trust launched an appeal to support the purchase of land adjacent to the access road at Rainton Meadows. To facilitate the acquisition of the land by Durham Wildlife Trust, it was initially purchased by another charitable organisation. the Esmee Fairbairn Foundation. The site was then leased to the Trust, which secured it from acquisition by anyone else and provided the time needed to raise the funds to buy the freehold. An application for £540,000 was submitted to Biffa Award to provide the funds needed to complete the land purchase and carry out some initial works on the site. To unlock the Biffa Award, match funding of 10 % was required and the Trust wrote to members to appeal for support. Within one week of writing to members, the £54,000 needed was secured and at the close of the appeal more than £80,000 had been raised. The additional support provided was much needed due to some unexpected additional costs associated with the purchase. Thankfully, Biffa Award granted the funds and the Trust was then able to complete the purchase of the land in February 2025. During the 24-25 financial year, the Trust reached 1,079.620 people online, a decrease on previous years, however X {Twitter) analytics was switched off for non-paying users in June 2024 and therefore those reach figures are no longer included in the total. In 2025 the Trust set up a Bluesky account, as an alternative to X. and this account already has almost 2,000 followers. As in previous years. Trust supporters have been instrumental in providing material and wildlife images to share on social media. Those posts are consistently some of the most popular over the course of the year. However. it was the Rainton Meadows land appeal content that reached the most people during 2024-25. Kittiwake Cam took the top spot for web page visits, despite the camera only running for a brief period of the year. Second in line came the online shop. highlighting its importance. Almost half a million emails wgre sent to subscribers on our emailing list. Content included monthly round-ups with details of events, news and blog updates and ideas for ways to get involved in the Trust. work. along with targeted campaigns to particular groups. Almost 100 pieces of media coverage were achieved across all plaffomis, the bulk of that relating to the Rainton Meadows land appeal. A total of 2,247 people attended Durtiam Wildlife Trust events be￿een April 2024 and March 2025 a decrease of 240/0 from 2,954 attendees in the previous year. Event performance was impacted by a number of factors in 24-25, including the close of the Seascapes project. which accounted for a high number of events in the previous year. Educational activity through traditional school bookings. Wildlife Watch and the Litter Free for Wildlife Project engaged more than 2000 primary school age children over 76 sessions - 49 at Nature Resetves and 27 in schools across the Trust's patch. In addition. the Enrichment Pilot project worked in 10 Secondary Schools in South Tyneside and Sunderland, engaging more than 1,100 secondary pupils in the co-design of a new enrichmenl programme and online portal for their schools. A further 215 young people engaged with regular sessions through Nature Rangers (11-14) and Conservation Rangers {14-18). In 24-25 a partnership with Sunderland University was formed. enabling the Tnjst to deliver nature themed activities on campus for universlty Staff and students, along with providing monthly wildlife themed digital content packs for the university inlranet. Those packs provided the opportunity to learn about local wildlife and fostered a connection to nature amongst the university community. The education team continued its work with adults and local qroups. including receiving funding secured by a number of church groups to deliver conservation activities within church grounds, working with 270 people over 25 sessions in 24-25. Thanks lo funding from the Barbour Foundation. the Trust was able to continue the Nextdoor Nature project. Nextdoor Nature utilises community organising and community listening skills to support communities to take action for nature where they live, offering the training and advice the groups need to be able to care for their local greenspaces. DURHAM WILDLIFE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Governance and Administration Operations Durham Wildlife Trust recognises that to deliver nature's recovery both the ecological and climale crises must be addressed. There are ongoing efforts to reduce the Trust's dimate impact whilst at the same time increasing our conservalion and engagement work. Work to measure carbon emissions and sequestration follows methodologies used across the Wildlife Trust movemenl and effort was made during the year to improve the quality and consistency of the data collected. The carbon emissions for 2024-25 expressed as tonnes of carbon dioxide equivalent are set out below. These figures exclude emissions associated with livestock. Scope 1- direct emissions from buming fossil fuels Scope 2 - indirect emissions from purchased eleclricity Scope 3- indirect emissions from purchased goods and services 16.74 NIL 495.89 Total emissions Efflissions per full time employee 512.63 15.77 Considerable effort has also been made across the Wildlife Trusts to understand Ihe emissions associated with livestock, which are a vital habitat management tool. The Tnjst has used a standard methodology employed by all Wildlife Trusts to calculate the emissions from livestock grazing across our estate, whether our own Exmoor ponies or cattle and sheep provided by others. The carbon emissions for 2024-25 expressed as tonnes of carbon dioxide equivalent arc 5Ct out bclow. Thia is a complex topic os thc emissions relate to methane and other gases, not direct carbon dioxide emissions. This requires a calculation of equivalence and there are different methodologies for doing that. The figures shown below are based on calculations estimating global wanning potential over a 100 year period resulting from the livestock emissions. Total emissions Emissions per livestock unit Emissions per hectare of land 278.49 2.67 0.77 Given that the Trust hopes to continue to expand the resources it has available to deliver its charitable aims and also increase the area of land it manages, the most useful year on year comparison in the future will be between emissions per employee. emissions per hectare of land in our estate and emissions per livestock unit la measure of the type of liveslock) used to manage that land. With support from the Royal Society of Wildlife Trusts, a plan was drawn up in 2024 - 25 setting out how emissions (excluding livestock) can be reduced going forward. The ambition is a 90°/o reduction by 2030, but that will be a challenging target given the difficulties in addressing Scope 3 emissions in particular. A staff group was also established to support the work to reduce emissions. Throughout the year the Trust continued lo focus not only on carbon emissions but its wider environmenlal performance. This work was rewarded with continued Investors in the Environment Silver accreditation. To maintain the level of accreditation requires improved performance, demonstrating the Trust's commitment to lead by example in relation to environmental issues_ During the year there was continued investment in the maintenance of visitor facilities and it is recognised that as visitor centres age and the number of sites increases there will be a need to increase maintenance and repair budgets. Currently a designated fund is in place to fund maintenance and repairs, with a proportion of any annual surplus generated being designated each year for this purpose. A Saturday working model was rolled out during the year, to provide more opportunities for members and supporters to engage with the work of the Trust. Overall, that was a successful innovation. but lessons have 10 DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 been learnt thal will help reff ne the type and number of activities that are delivered. Staff recruitment is under constant review, given how vital staff are to the success of the charity. There was greater availability of potential employees during 2024 - 25, particularly for less specialist roles. but Trustees ensured that salaries and employment conditions were reviewed during the year to ensure Ihey remained competitive. Hybrid working arrangemenls remained in place across the Trust during the year. Public Benefit From l April 2008, section 4 of the Charities Act 2006 requires all charities lo meet the legal requirement that its aims are for the public benefit. The Trustees confinn that they have complied with the duty to have due regard to the Charity Commission's general guidance on public benefit. The Charity Commission states that there are two principles to be met in order to show that an organisation's aims are for the public benefit: firstly, there must be an identifiable benefit or benefits and secondly that the benefit must be to the public, or a section of the public. The Trustees are satisfied that the aims and objectives of the charity, and the activities reported on above, meel these principles. Financial Review In the year to 31st March 2025 Group income was £4,285,760 {2024 £5,266.186). In 2024 exceptional income of £2,638k was received from Natural England in relation to the purchase of land under the Nutrient Neutrality provisions. If this transaction is discounted, then 2025 shows substantial growth over the prior year. The total surplus for the year was £947,728 of which £42,576 was unrestricted, £300.845 restricted and £604,307 designated. Most of the designated surplus came from the funding raised via grant income and public appeal for the purchase of additional land at Rainton Meadows. A key element of Ihe Group's strategy continues to be the acquisition of land to allow nature to be restored over a greater area. In recent years, income to facilitate this has come from grants. large individual donations and public appeals. Most notably over the 2023 and 2024 financial years the Group received £5,844k from Natural England under the Nutrient Neutrality provisions. Due to the long-tenn restrictions included in these provisions the fund balances associated with this land have been included in restricted funds. Where land has been acquired with the help of donations or grants that do not have post purchase restrictions, the associated fund balance has been transferred to designated funds. Trustees continue to take the view that placing newly acquired land in a designated fund provides a mora ma2nin9ful prasèntation of the charity's unrestricted fund position. Driven by its strategy of delivering nature conservation and restoration, the Group expects to hold all land in perpetuity and the fund balances associated with land should therefore be excluded when considering the finances or the Group. A summa of the funds is provided below: Unrestricted Designated 3,634.921 Restricted Total Fund balancc at 31 March 2025 Fund balances in relation to land & property held fo conseNation Fund balances net of land ro ert holdin 822,709 6.645,413 1,882 3,431,570 5,844,033 820.827 203.351 801,380 DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The long-term policy of the Trust remains to eam surpluses on unrestricted ￿nd activities to Continue to strengthen the financial position of the Group to enable further investment delivering the charity's aims. In addition to holding land designated funds also include those aimed at supporting volunteering activity, enhancing energy efficiency. creation of habitat banks and the repair. maintenance (including replacement) of land, buildings, eqLtipment and other assets. Durharn Wildlife Services Ltd Durham Wildlife Services IDWS) is a private company limited by shares and is a wholly owned trading subsidiary of Durham Wildlife Trust. It was incorporated on 9th April 1991 as an Environmental Consultancy and aims to make a profit each year, which, subject to commercial financing needs, is Gift Aided to Durham Wildlife Trust. DWS primarily delivers ecological consultancy services, including species and habitat surveys and the production of land management and habitat creation plans. The year to the 31 st March 2025 saw a turnover of £368,875 compared to the previous year of £236,696. The nel surplus was £62,596 and a donation of £26,095 was paid over to the Trusl. Durham Wildlife Services proposes to pay £62.596 to Durham Wildlife Trust during 2025-26 from its profits. Investment Powers and Polic The Trustees, having regard to the liquidity requirements of the charity's projects programme, some of which receive payment in arrears from grant funders, and to the financial reserves policy, will, where relevant, operate a policy of keeping available fund5 in an intcrcst-bcaring depO￿lt account or a low-risk -harcd deposit fund managed by an Investrnent Manager. Reserves Polic The Trustees have set the reserves policy such that the target for unrestricted net current asset funds equates to six months unrestricted expenditure. The policy uses net current asset funds due to the relatively high value of fixed assets the Group maintains which are not available to fund the Group's operations. The relatively prudent six months cover of expenditure has been adopted to mitigate the risk from the high level of restricted projects the Group undertakes. many of which are funded in arrears. Unrestricted current net asset funds at 31st March 2025 are £720,335 (see Page 20, Consolidated Balance Sheet} and unrestricted expenditure for the year was £1,073.611 giving cover of 8 months. At the year end funds therefore remain over target and the Trustees have approved a deficit budget for the current financial year to address this. Desi nated Fund Polic Trustees have set a designated fund policy to make provision for the repair. maintenance (including replacemen1} of land, buildings, equipment and other assets. It has been determined that 10 % of unrestricted surplus will be designated for this purpose annually, with Trustees having discretion to vary the amounl to reflect the charity's need and circumstances pertaining at the time. Valuation of Freehold Pro During the 2021-22 financial year. Trustees commissioned a valuation of the charity's freehold property. The purpose of the valuation was to ascertain current market value as land values on the asset register reflect purchase cost, not current valuation. As well as providing trustees with a grealer understanding of asset values this informakn'on allowed the potential impairment of the value of land assets to be reviewed. There was no impaimient. Truslees have determined to periodically carry out a freehold land valuation (approximately every 5 years) and to present information on the value of land assets in the annual report based on the additional freehold land acquired that year. Information is presented in the table below. 12 DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Number f sites rea Note Freehold land al 31st March 2022 aluation NBV in Financial tatements is 1,516.120 25 477.6 3.767,819 Freehold land uired 2022-23 Freehold land uired 2023-24 ac Freehold land ac uired 2024-25 otal ost 290.9 4.094.622 102.5 ost 2,954,508 20.0 ost 629,200 33 891.0 11,446,149 Plans for Future Periods The charity continues to instigate fund raising campaigns in order to increase its income generation, particularly in respect of unrestricted funds. It continues to bear down on costs where possible. The current financial policy is to maintain the financial strength of the Trust, while at the same time using available funds to strengthen the Trust's efforts in the fields of conservation and education in a measured way within the limits of the resources available. STATEMENT OF TRUSTEES. RESPONSIBIL￿lEs The Trustees (who are also Directors of Durham Wildlife Trust for the purposes of company law) are responsible for preparing the Board of Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Truslees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to- Select suitable accounting policies and then apply them consistenlly. O Observe the methods and principles in the Charities SORP 2019 (FRS 102)- O Make judgements and estimates that are reasonable and prudent. O State whether applicable UK accounting Standards have beeii folluwed, bubjeLI Iu dliy tnaterial departures disclosed and explained in the financial statements. / Prepare the financial statements on a going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclos@ with reasonable accuracy at any time the financial posikn'on of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware= O There is no relevant audit information of which the charitsble company's auditor is unaware; and O The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditor is aware of that information. 13 DURHAM WILDLIFE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 AUDITOR In accordance with the Companies Act 2006 a resolution proposing the appointment of Robson Laidler Accountants Limited as auditor for the year ending 31 March 2025 will be put to the members. Approved by the Board on . and signed on their behalf by.. S Lister Chair 14 DURHAM WILDLIFE TRUST INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF DURHAM WILDLIFE TRUST Opinion We have audiled the financial statements of Durham Wildlife Trusl (the 'charitable parent company'} and its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Group and Charitable Company Balance Sheel, the Cash Flow Statement and notes to the financial statements, including a summary of significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and parent chariiable company's affairs as at 31 March 2025, and of the group's incoming resources and application of resources, including its income and expenditure. 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 Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intem3tion31 Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial stalements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordancewith these requirements. We believe that the audit evidence we have obtaiiied is suffiLi¥iit ai Id dpyfuyiicjlv Iu VTuvidg d L)dbiè4 fur uur opiiiion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accoL¢nting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information conlained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to rea(J the other informats-on and, In doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. Ifwe identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. 15 DURHAM WILDLIFE TRUST INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF DURHAM WILDLIFE TRUST Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report (incorporating the directors. report) for the financial year for which the financial stalernents are prepared is consistent with the financial statements- and the directors, report has been prepared in accordan￿ with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misststements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums- or certain disclosures of directors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit- or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies. exemptions in preparing the direclors, report and from the requirement to prepare a strategic report. Responsibilities of trustees explained more fully in the trustees, responsibilities statement, the trustees (who are also the dirgctors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable Ihe preparation of financial statements that are free frotn material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audit of financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whetherdue to fraud or error, and to issue an auditorfs reportthat includes ouropinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when it exists. Misstatements can arise from fraud or 8rror and are Gonsidered nialerial if, individually or in the aggregate. they Gould ieasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The risk of material misstatement due to error or fraud has been assessed in conjunction with how internal controls may mitigate any such risk. These controls are reviewed as part of the audit be performing systems walklhroughs to ensure they are operating effectively. Other substanlive testing is also performed on all material balances and therefore any inslances of non-compliance should be identified or considered as insignificant. 16 DURHAM WILDLIFE TRUST INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF DURHAM WILDLIFE TRUST In l(ientltylng an(1 assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team" obtained an understanding of the nature of the industry and sector. including the legal and regulatory framework, in which the charitable company operates and how the company complies with thal legal and regulatory framework. inquired with management and those charged with governance about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud. discussed with management and those charged with governan￿ any non-compliance with laws and regulations and how fraud might occur including assessments of how and where the financial statements may be susceptible to fraud. The risk of management override of controls was also considered an area of potential misstatement due to fraud. Audit procedures perfomied included testing of manual joumal entries and other adjustments and evaluating the business rationale in relation to significant. unusual transactions and transactions entered into oulside the normal course of business. A further description of our responsibilities for the audit of the finane.i21 statp.mp.nt.q iq InrAtp.d nn thp. FinAnp.iAI Reporting Council's website at- www.frc.org.uklauditorsresponsibilities. This description forms part ofour auditorfs report. Use of thts report This report is made solely to the charitable company s members, as a body, In accor(Jance with Ghapier 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those tnatters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone otherthan the charitable company and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. rh MoQifl Michael T Moran BA FCA (Senior Statutory Auditor) For and on Behalf of Robson Laidler Accountants Limited Statutory Auditors Fernwood House Fernwood Road Jesmond Newcastle Upon Tyne Tyne and Wear England NE2 1TJ Date: l ocF4Jery20?5- 17 DURHAM WILDLIFE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestricted Restricted Designated funds funds funds Total 2025 Total 2024 Notes Income and endowments from: Donations and legacies Charitable activities 360,447 369,317 348,446 37.977 45,853 2.427,618 12,830 88,619 494,919 492,633 594,653 3,391,588 4.505,460 361,276 251,108 37,977 16,985 Other trading activities Investments Total income 1.116.187 2,486,301 683.272 4,285,760 5,266,186 enditure on: Cost of raising funds Charitable activities 432.423 641.188 432,423 351,394 78,965 2,905,609 1.920,503 78,965 3,338,032 2.271,897 2,185,456 2,185,456 Total expenditure 1 ,073.611 Net Income l (expenditure) before transfers 42,576 300,845 604,307 947,728 2.994,289 Gross transfers between funds 20 79,072 (112,547) 188.298 33,475 637,782 Net movement in funds 121,648 947,728 2,994,289 Reconciliation of funds Fund balances at 1 April 2024 701,061 6.457,115 2,997,139 10,155,315 7,161,026 Fund balances at 31 March 2025 822,709 6,645,413 3.634.921 11,103,043 10,155,315 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 18 DURHAM WILDLIFE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestricted Restricted Designated funds funds funds Total 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 490,540 282,958 237.518 16.985 2,093 4.217,012 13,590 492,633 5,490 4,505,460 251,108 16,985 Total income 1.028.001 4,232,695 5,490 5,266,186 •ndituro on: Cost of raising funds 351,394 351,394 Charitable activities 607,619 1.267,527 45,357 1,920,503 Total expenditure 959,013 1,267,527 45,357 2,271,897 Net Income l {expenditure) before transfers 68,988 2.965,168 {39.867) 2,994,289 Gross transfers between funds 20 (187.079) (279.348) (118,091) 2.685.820 466,427 426,560 2,994,289 Net movement in funds Reconciliation of funds Fund balances at 1 April 2023 819.152 3,771,295 2,570,579 7,161,026 Fund balances at 31 March 2024 701,061 6,457,115 2,997.139 10,155,315 19 DURHAM WILDLIFE TRUST CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted Designated Funds Funds funds 2025 2025 2025 Total 2025 Total 2024 Notes Fixed assets Tangible fixed assels 15 102,374 5.844,033 3,431,569 9,377,976 8,741,276 Current assets Stock 17 9,681 42.564 835,661 887,906 9,681 217,885 2,031,932 2,259,498 8,797 360,790 1,258,261 1,627,848 Debtors 18 175,321 695,301 870.622 Cash at bank and in hand 500,970 500.970 Creditors: amounts falling due within 1 year Net current assets 19 (167.571) (69,242) (297,618) 1534,431) 1213,809) 720,335 801.380 203.352 1.725,067 1,414,039 Nat assots 822,709 6,645.413 3.634,g21 11,103,043 10.1fjfj,.21£ Reserves Unrestricted funds 822,709 822,709 3,634,921 801,380 701.061 2,997,139 613,082 Designated funds Restricted funds Other Restricted funds Natural England Funded Land Total resenies 20 3,634.921 20 801.380 20 5.844.033 5,844,033 5,844,033 822,709 6,645,413 3,634,921 11,103,43 10,155,315 Natural England Funded Land is subject to 125-year restrictions preventing it being sold or charged and requiring no nutrient inputs on the land. For further details see page 38. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. These financial statements were approved by the Board of Trustees on .29J.oq.{20oS.and are signed on their behalf by.. S Lister Chair Company registration number- 01019263 The notes on pages 23 to 40 form part of these financial statements 20 DURHAM WILDLIFE TRUST CHARITABLE COMPANY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted Designated Funds Funds funds 2025 2025 2025 Total 2025 Total 2024 Notes Fixed assets Tangible fixed assets Investments 15 102.374 5,844,033 12 3.431,569 9,377,976 12 8,741,276 12 16 102,386 5,844,033 3.431,569 9,377,988 8,741,288 Currenl assets Stock 17 9,681 14,652 747,260 771.593 9.681 189,973 1,943,531 2,143.185 8,797 314,481 1,230,660 1,553,938 Debtors 18 175.321 695,301 870,622 Cash at bank and in hand 500,970 500.970 Creditors: amounts falling due within 1 year Net Current assets 19 {147,760) (69.242) (297,618) {514,620) (199,900) 623.833 801.380 203,352 1.628.565 1,354,038 Net assets 726,219 6,645,413 3,634,921 11,006,553 10,095,326 Reserves Unrestricted funds 726,219 726,219 3,634,921 801,380 641,072 2,997,139 613,082 Designated funds Restricted funds Other Restricted funds Natural England Funded Land Total reserves 20 3,634,921 20 801,380 20 5.844.033 5,844,033 5.844,033 726,219 6.645,413 3.634,921 11,006,553 10,095,326 Natural England Funded Land is subject to 125-year restrictions preventing it being sold or charged and requiring no nutrient inpuls on the land. For further details see page 38 These financial -tatements have been prepared in accordance with the special provi3ion3 of Part 15 of the Companies Act 2006 relating to small companies. These financial statements were approved by the Board of Trustees on by: 291.01 lQz125.and are signed on their behalf S Lister Chair Company registration number: 01019263 The notes on pages 23 to 40 fonn part of these financial statements 21 DURHAM WILDLIFE TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flows from operating activities Net cash provided by (used in) operating activities 24 1,420,043 2,484,342 Cash flows from investing activities Purchase of tangible fixed assets Interest received {692,749) 37.977 8,400 (2,964,245) 16,985 14,020 (2,933,240) Disposal of tangible fixed assets Net cash provided by (used in) investing activities 1646,372) Change in cash and cash equivalents 773,671 (448,898) Cash and cash equivalents at the beginning of the year 1.258,261 1,707,159 Cash and cash equivalents al the end of the year 2,031,932 1,258,261 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Durham Wildlife Trust is a company limited by guarantee, registered in England and Wales, (number 01019263) and not having a share capital. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office is Rainton Meadows. Chilton Moor, Houghton-le-spring, Co Durham, DH4 6PU. 1.1 Basis of preparation of financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities: Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investmenls which are included at market value. Tlie financial stalements are prepared in sterting, which 15 the funclional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Durham Wildlife Trust meets the definition of a public benefit entity entry under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 1.2 Basis of consolidation The group financial statements consolidate the financial statements of the charitable company and its wholly owned subsidiary undertaking, Durham Wildlife Services Limited, on a line-by-line basis. separate Statement of Financial Activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. 1.3 Going concern The financial statements have been prepared on a going concem basis as the Trustees believe that no material uncertainlies exist. The Trustees have considered the level of funds and forecast income and expenditure for a period of 12 months after the date of approval of these financial statements. The budgeted income and expenditure is sufficient considering the level of reserves for the charity to be able to continue as a going concern. 1.4 Fund structure 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 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 to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for a particular purposes. The cost of raising and administering such funds are charged against the specific fund, The aim and use of each restricted fund is set oul in the notes to the financial statements. 23 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.5 Income All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity has entitlement to the funds, any perfomiance conditions have been met, the amount can be measured reliably and it is probable that the income will be received Voluntary income is received by way of grants. donations and gifts are included in full in the Statement of Financial Activilies when the trust becomes entitled. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes unconditionally entitled to the grant. Membership subscriptions from both individual and corporate bonds are recognised when the funds are received. Donated serVi￿S and facilities are included at the value to the charity where this can be quantified. The value ofservices provided by volunteers has not been included in these accounts in line with SORP (FRS 102). Assets donated are recognized in full as donation5 and fixed assets. Investment income is included when receivable. Incoming resources from charitable trading activities are accounted for when earned. Grants and fees received for current year expenditure and grants for purchase of fixed assets are recognised in full in the Statement of Financial Activities in the period in which they are received provided that the conditions for reGeipt have been complied with. Income is deferred only where the criteria for recognition as incoming resources in the Statement of Financial Activities does not exist at the balance sheet dates. All legacies are crediled to income in the year in which the Trust becomes entitled to the funds. Income from commercial trading activities is recognised as eamed (as the related services are provided). 1.6 Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transferof economic benefitwill be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be (iirecuy attributed to particu18r headings, they have been allocated on a basi5 con5i51eril willi Ilie ube uf resources. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of tradinq for fundraising purposes includinq the charity's visitor centres and from the commercial trading activities of the company's subsidiary. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those cost- of an indirect nature ne￿SSary to support them. Support costs are Ihose functions that assist the work of the charity but do not directly undertake charitable activities. Govemance costs include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit and costs linked to strategic management. 24 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 All costs are allocated between expenditure categories of the SOFA on a basis designed to refiecl the use of the resource. Costs relating to a partlcular aciivity are allocated directly,. others are apportioned based on the time spent. Irrecoverable VAT is charged as a cost against the expenditure when incurred. 1.7 Fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases= Freehold property Long leasehold Equipment, fixlures & fittings Motor vehicles straight line straight line straight line straight line 25% Improvements to leasehold property are written off in the year in which the expenditure is incurred. No depreciation is charged on nature reserves which are included in both freehold and leasehold land and buildings. The gain or loss arising on the disposal of an asset is detemiined as the difference bet￿een the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities. The group has a policy nol to capitalise individual assets costing under £500. 1.8 Fixed asset investments Investments in subsidiary undertakings are held at cost less impairment. 1.9 Stock Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items. 1.10 Debtors Trade and other debtors are are recognised at the settlement amount due after any trade discount offered. PrepclyITieii15 are valued at the amount prepaid net of any trade discounls etc. 1.11 Cash at bank and in hand Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-term liquid investments with origin21 mAtLiritip.£ nf thrpp. month.s or Ip.8s. and bank overdrafts_ Bank overdrafts are shown within borrowings in current liabilities. 1.12 Creditors and provisions 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 thira pany and the amount due to settle the obligation can be measured or eslimated reliably. Creditors and provisions are recognised at their settlement amount after allowing for any trade discounts due. 25 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.13 Pensions and other post-retirement obligations Tl cl iai.ily operales iiioiiey purcliase peiisioii Sclieme. Amounts payable are included in the Statement of Financial Activities when the related salary is paid. Unremitled amounts are included in creditors 1.14 Financial instruments The charity only has financial assets and financial labilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.15 Taxation The charity is exempt from corporation tax on its charitable activities. Judgements and key sources of estimation uncertainty In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUr￿s. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the pertod in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant accounting estimates which are considered to materially impact the financial statements. Donations and legacies Unrestricted 2025 Restricted 2025 Designated 2025 Total 2025 Subscriplions Donations Legacies 288,397 53,535 18,515 288,397 188.007 18,515 45,853 88,619 360.447 45.853 88,619 494,919 Unrestricted 2024 Restricted 2024 Designated 2024 Total 2024 Subscriptions Donations Legacies 290,931 65.055 134,554 290,931 67,148 134,554 2,093 490.540 2,093 492,633 26 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activities Total 2025 Total 2024 Grants Natural England Land Purchase Other grants Events income Conservation activities Education activities Other income 2,638,339 1,557,172 7,816 197,723 7,020 97,390 4,505.460 3,067,231 6,640 235,521 9,900 72,296 3,391,588 2025 2024 Grant Summary Natural England National Lottery Heritage Fund Durham County Council Royal Society of Wildlife Trusts Sunderland City Counal Northumbrian Water Banister Charitable Trust Groundwork The Swire Charitable Trust Environment Agency Northumberland Wildlife Trust DEFRA Marjorie Coote Animal Charity Trust RSPB Mintingmor Trust Hartlepool Borough Council Gateshead Council The D'oyly Carte Charitable Trust Sir James Knott Trust Other The Catherine Cookson Charitable Trnst The N2tonal Citizpn Sprvir.p. TriJ8t 2,650,000 479,353 77,274 32,948 95,688 128,642 293,500 7,607 75.000 48,609 390 58.094 3,000 5,212 600 12,880 10,500 3,000 10,777 500 4,139 42,517 250 1,528 59,218 68,085 19,200 7,000 673,370 218,851 134,114 91,555 224,699 11,192 33,850 150,000 189,237 5,000 35,851 98,703 250 2,642 252,687 88,000 27,365 The Wild Flower Society Co-op Local Community Fund South Tyneside Council Zephyr Charitable Trust ALA Green Charitable Trusl The Curtin PARP Fund LNER 31,000 27 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 National Highways Agency Barbour Trust Alzheimerfs Research UK The Beryl Evetts & Robert Luff Animal Welfare Trust Natural Environment Investment Readiness Fund Hadrian Trust Biffa Award Sea-changers The Veolia Environmental Trust Impetus Environmental Trust 10,620 35.UOU 5.000 3.500 46.433 1,000 487,364 2,375 200,000 7,573 3,067,231 4,195,511 The Natural England Land grant received in 2024 was specifically to facilitate purchase Eldon Moor Farm, The agreement with Natural England places a 125-year no nutrient inputs obligation on the Group so that the land is managed in such a way as to mitigate nutrient inputs elsewhere in the Tees catchment. During this time the Group is also restricted from disposing of or charging the land. 5. Other trading activities Total 2025 Total 2024 Other trading activities Income from trading subsidiary 12,830 348,446 361,276 14,480 236,628 251,108 6. Investment income 2025 2024 Bank interest receivable 37.977 16,985 28 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Raising funds Total 2025 Total 2024 Raising donations and legacies Staff costs Fundraising expenses 105,359 18,438 123,797 81,297 16,466 97,763 Other trading activities Purchases Promotional expenses Trading expenditure from subsidiary 16,121 6.003 286.502 432,423 24,714 18,316 210,601 351,394 Charitable activities Activities undertaken directly 2025 Support costs 2025 Total 2025 Reserve Projects Education Projects Publications and Affiliations Visitor Centre Conservats'on Projects 71,207 191,588 7,467 81,723 2,461,316 2.813,301 71,207 191,588 29,852 94,789 2,518,173 2,905,609 22,385 13,066 56,857 92,308 Activities undertaken directly 2024 Support costs 2024 Total 2024 Reserve Projects Education Projects Publications and Affiliations Visitor Centre Conservakn'on Projects 214.811 180,926 12,742 64.193 1,358,276 1,830,948 214,811 180,926 35,337 76,701 1,412,728 1.920,503 22,595 12,508 54,452 89,555 29 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Support costs support Govemance costs costs 2025 2025 Support Govemance costs costs 2024 2024 Total 2025 Total 2024 Conservab'on Projects Publications and Affiliations Visitor Centre 28,188 14,998 8,754 51,940 28,669 7,387 4,312 40,368 56,857 22,385 13,066 92,308 26,334 15,042 8,327 49,703 28,118 7,553 4,181 39,852 54,452 22,595 12,508 89,555 10. Governance Total 2025 Total 2024 Auditors fees RWST Membership Magazine & Marketing 7,250 15.561 17.557 10,000 12,742 17,110 40,368 39,852 11. Net income l (expenditure) Total 2025 Total 2024 Auditors remuneration Other non-audit services Depreciation of fixed assets 7,250 10,000 1,200 45,321 56,049 63,299 56,521 12. Financial perfomiance of the charitable company The Consolidated Statement of Financial Activities includes the results of the wholly owned subsidiary The summary, financial perfonnance of the charity alone is" Group 2025 Group 2024 Income Expenditure 3,962,757 (3,051,530) 911,227 5.046,615 {2,061,295) 2,985,320 30 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Group 2025 Group 2024 13. Staff costs Wages and salaries Social security costs Pension contributions 1,017,674 85,946 63,121 1,166,741 890,163 76,091 37,563 1,003,817 The average number of persons employed by the group during the year was as follows Group 2025 Group 2024 Costs of generating funds Charitable activities Management and administration 36 33 43 39 The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows.. 2025 2024 £60,001 - £70.000 The key management personnel of the charity comprise the Trustees and management Team identified on page 1. The total employee benefits of the Management Team of the charity were £231,046 (2024 . £208,367) 14. Trustees, remuneration and expenses During the year. no trustees received any remuneration or other benefits (2024- £nil) During the year ended 31 March 2025. no trustees, expenses have been incurred (2024.. £nil). 31 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Tangible fixed assets Group Equipment, fixtures & fittings Freehold Property Long leasehold Motor Vehicles Total Cost At 1 April 2024 Additions Disposals 9,099,628 629,200 (56,824) 127.567 1.062,004 42,549 (105,277) 113,834 10,403,033 21,000 692,749 (58,722) (221,123) (300) At 31 March 2025 9,672,004 127,267 999,276 76,112 10,874,659 Depreciation At 1 April 2024 Charge for the year Eliminated on disposals 533,610 769 {56,1125) 44,532 981,774 46,701 (105.217) 101,841 1,661,757 8,579 56,049 {58,721) (221,123} (Juu) At 31 March 2025 477,554 44,232 923,198 51,699 1,496,683 Net book value At 31 March 2025 9,194,450 83,035 76,078 24,413 9,377,976 At 31 March 2024 8.566,018 83,035 80,230 11,993 8,741,276 Included within freehold property and long leasehold are nature reserves with a total cost of £9,192,568 and £83,035, respectively. No depreciation has been charged on these amounts. 32 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charity Equipment, fixtures & fittings Freehold Property Long leasehold Motor Vehicles Total Cost At 1 April 2024 Additions Disposals 9,099,628 629,200 (56,824) 127.567 1.061,651 42,549 (104,924) 113,834 10,402,680 21,000 692,749 {58,7221 (220,770) (300) At 31 March 2025 9,672.004 127.267 999,276 76,112 10,874,659 Depreciation At 1 April 2024 Charge for the year Eliminated on disposals 533,610 769 (56,825) 44.532 981,421 46.701 (104,924) 101,841 1,661,404 8,579 56,049 (58,721) (220,770) (300) At 31 March 2025 477,554 44,232 923,198 51,699 1,496,683 Net book value At 31 March 2025 9,194.450 83,035 76.078 24,413 9,377,976 At 31 March 2024 8.566.018 83.035 80,230 11,993 8,741,276 Included within freehold propety and long leasehold are nature reserves with a total cost of £9,192,568 and £83,035, respectively. No depreciation has been charged on these amounts. 16. Fixed asset investments Group 2025 Group 2024 Charity 2025 Charity 2024 Shares on subsidiary undertaking 12 12 Percentage Shareholding 100% Description Company Durham Wildlife Services Limited Country England and Wales Ordinary 33 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Durliam Wildlife se￿ICe5 Limited's principal activity is the provision of ecological consultancy services. The results and summary of assets and liabilities of the company are as follows= 2025 2024 Turnover Cost of sales Administrative expenses Profit for the year 369,525 (304,367) (2,5621 62,596 236,696 (195,4461 (15,1551 26,095 Distribution to Durham Wildlife Trust 26,095 17.125 2025 2024 Total assets 123,516 (27,011) 96,505 75,890 (15,8861 60,004 Total liabilities Shareholders, funds 17. Stock Group 2025 Group 2024 Charity 2025 Charity 2024 Raw rnaterials and consutnables 9,681 8.797 9,681 8,797 18. Debtors Group 2025 Group 2024 Charity 2025 Charity 2024 Trade debtors Prepayments and accrued income 54,516 163.369 217.885 193,400 167,390 360.790 26,604 163,369 189,973 147,091 167,390 314,481 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Crèditors: amounts falling due within 1 year Group 2025 Group 2024 Charity 2025 Charity 2024 Trade creditors Amounts owed to group companies Other taxation and social security Accruals Other creditors VAT 86,642 135,399 86,330 7,200 21,378 328,668 1,069 69,975 514.620 137,376 21,378 342,873 1,069 82.469 534,431 19,325 27,488 15,470 16,127 213,809 19,325 27,488 5,707 10,004 199,900 20. Analysis of funds Gurrent year Balance at 1 Apr 2024 Balance at Transfers 31 Mar 2025 Income Expenditure Unrestricted funds ()eneral lunds 701,061 1.116.187 (1,073,611) 79,072 822,709 Designated funds Land Volunteers Repairs and Maintenance Rainton Meadows Biodiversity Net Gain Fund Habitat Bank Fund Energy Efficiency Fund 2,802,369 34,733 28.971 131,066 673,605 8,461 (59,908) 18,709) 18,599) (543) {1.206) 15,502 (553) 40,535 {130.523) 3.431.568 33,932 60,907 1,206 90,000 18.514 90,000 18,514 2.997.139 683.272 (78.965) 33.475 3.634.921 Total unrestricted funds 3.698,200 1.799,459 1.152,576 112,547 4,457,630 35 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Balance at 1 Apr 2024 Balance at Transfers 31 Mar 2025 Restricted funds Income Expenditure Natural England Funded Land 5,844,033 Discover Bright Water 102,223 Heart of Durham 15,836 Land of Oak and Iron 10,959 Low Barns 11,404 Conservation Projects 390,726 Education Projects 11,491 Living Landscape Projects 48,718 Great North Fern Seascapes Links with nature 5,844,033 3,310 16,353 10,959 11,404 578,623 75,591 30,696 88,404 724,441 46,894 {714,216) (46,377) (109,138) 980,481 231,120 16,004 118,432 46,287 322,642 {787,641) (168,554) (34,026) (30,028) 148,012) {356,602) (4,943) 1.534 1,725 20.000 (13,960) 6,457,115 2,486.301 (2.185,456) (112,547> 6,645,413 Total funds 10,155,315 4,285,760 (3,338,032) 11,103,043 Prior year Balance at 1 Apr 2023 Balance at Transfers 31 Mar 2024 Income Expenditure Unrestricted funds General funds 819,152 1,028,001 959,013 (187,079) 701,061 Designated funds Land Volunteers Repairs and Maintenance Rainton Meadows Catchment Management 2,335,942 43.979 33.022 132.636 25,000 2.570,579 466,427 2,802,369 34,733 28,971 131,066 (9,246) (4,051 } (7.060) (25,000 (45,357 5.490 5,490 466,427 2,997,139 Total unrestrlcted funds 3,389,731 1,033.491 (1,004,370) 279,348 3,698,200 36 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Balance at 1 Apr 2023 Balance at Transfers 31 Mar 2024 Restricted funds Income Expenditure Natural England Funded Land 3.205.694 Discover Bright Water (28,511) Heart of Durham 18,368 Land of Oak and Iron 10,959 Naturally Native 2,310 Low Barns 11,404 Conservation Projects 339,958 Education Projects 23,088 Living Landscape Projects 190,603 Healing Nature 6,870 Great North Fem 14,354) Seascapes 15,094) Links with nature 2.638,339 320,857 51.394 5,844,033 102,223 15,836 10,959 (190,123) (53,926) 200.469 (199,7381 {3,041) 11,404 390,726 11,491 48,718 472,642 144,122 17.890 (427,4841 (164,2051 (178,2591 5,610 8,486 18,484 (6,870) (302,017) 295,588 71.394 20,000 10,783 (64,575) 1,725 20,000 3.771.295 4.232,695 (1.267,527) (279,348) 6,457.115 Total funds 7.161.026 5,266,186 {2,271,897) 10,155,315 Transfers are made between funds when a fund has closed from restricted into unrestricted funds. Designated Funds Volunteers Funds designated, to support all aspects of volunteering and trainee positions at Durham Wildlife Trust. Repair5 and Maintenance FLtnds designated to make provision for the repair. maintenance {including replacement) of land buildings equipment and other assets. Rainton Meadows Funds designated to manage the Trust's Rainton Meadow Nature Reserve. Catchment Management Support for the Trust's work provided by the Garfield Weston Foundation that the Trust has designated to support partnership work with the Rivers Trusts and Northumbrian Water across the catchments of the rivers Skerne and Browney. Land Specific fund created for the unrestricted land held by the charity. 37 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Habitat Bank Fund Fund designed to support and underwrite the creation of habitat banks for the delivery and sale of biodiversity net gain credits. Energy Efficiency Fund Fund designed to improve the energy efficiency of the Trust across all of its operations. RESTRICTED FUNDS Discover Bright Water A National Lottery Heritage Fund Landscape Partnership scheme led by that aims to deliver significant conservation work across the catchment of Ihe River Skeme Heart of Durham A landscape scale project delivering habitat and species conservation across northern and central County Durham that is supported by Northumbrian Water. Land of Oak and Iron A National Lottery Heritage Fund Landscape Partnership scheme in the Derwent Valley to deliver education and conservation projects. Naturally Native A project funded by the National Lottery Heritage Fund that focuses on conservation of the water vole. This project is delivered in partnership with Tees Valley and Norlhumberland Wildlife Trusts. Low Barns Improvements Funding received from Durham County Council Weardale AAP and Norih Pennines and Dales Leader to refurbish and improve the Visitors Centre at Low Bams Nature Reserve. Conservation Projects A fund created during 2020-21 to consolidate smaller conservation projects into a single Department in order to simplify financial management and reporbng. Individual projects are identifiable by Project Codes. Education Projects A fund created during 2021-22 to consolidate smaller education projects into a single Department in order to simplify financial management and reporbng. Individual projects are identifiable by Project Codes. Living Landscapes North Projects A fund created during 2021-22 to consolidale projects delivered across the Trust's living landscapes nature re￿er￿e- into a ingle Department in order to simplify financial management and reporting. Individual projects are identifiable by Project Codes. Natural England Funded Land Over recent years the Charity has entered into aqreements with Natural Enqland to facilitate the purchase of several areas of land. These agreements place a 125-year no nutrient inputs obligation on the Charity so that the land is managed in such a way as to mitigate nutrient inputs elsewhere in the Tees catchment. During this time the Charity is also reslricted from disposing of or charging the land. It is therefore classified as a restricted fund. Great North Fen A long-tem project to deliver large scale habitat restoration across the Durham Carrs and wider catchment of the River Skeme. 38 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Healing Natur@ A project funded by the National Lottery Heritage Fund that focuses on habitat restoration across the Sunderland Coalfield area and associated health and well-being benefits. Seascapes A National Lottery Heritage Fund Landscape Partnership led by Durham County Council that delivers a variety of projects along the coast and coastal walers from the Tyne to the Tees. Durham Wildlife Trust delivers a number of the projects. Links with Nature A Nalional Lottery Heritage funded project delivered in partnership with Sundedand City Council covering thirteen sites in the Sunderland Coalfield area {con￿ntrated on the catchment of the Lumley Park Burn.) The project focuses on habitat and access improvements to Council owned sites and will make use of social prescribing via the Sunderland G.P. Alliance and Links for Life Sunderfand to engage volunteers. 21. Analysis of net assets between funds Unrestricted Funds Designated Funds Restricted Funds Total 2025 Current year Tangible assels Current assets 102,374 887,906 3,431,569 500,970 5,844,033 870,622 9,377,976 2,259,498 Creditors amounts due within one year (167,571) (297,618) (69,242) (534,431) 822,709 3,634,921 6.645.413 11,103,043 Unrestricted Funds Designated Funds Restricted Funds Total 2024 Prior year Tangible assets Current assets 94,873 819,997 2,802,370 194,769 5.844,033 613,082 8,741,276 1,627,848 Creditors amounts due within one year (213,809) (213,809) 701,061 2,997,139 6.457,115 10,155,315 22. Related party transactions There have been no related party transactions during the year (2024 . £nil) 23. Pension commitments The charity operates a money purchase pension scheme. The pension scheme cost of £63,121 (2024.. £37,563) represents amounts payable by the charity. Unremitted amounts of £1,069 (2024 - £5,707) is included in credilors. 39 DURHAM WILDLIFE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 24. Reconciliation of net income to net cash flow from operating activities 2025 2024 Net income l expenditure for year 947,728 2,994,289 Adjustments for Interest received Depreciation Profit and loss on disposal of fixed asset (Increase) I decrease in stock (Increase) I decrease in debtors (Decrease) l increase in creditors {37,977) 56,049 (16,985} 45,321 (8,400) 1884) 142,905 320,622 (12,908) 1,234 122,715 1649,324) Net cash provided by operating activities 1,420,043 2,484,342 25. Analysis of net debt The charitable company had no debt during the year. 40