2023-03-31-accounts - Montgomeryshire Wildlife Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Reference and administrative		details
Trustees' report			2-11
Independent auditor's	report		12 - 15
Statement offinancial	activities		16
Balance sheet			17
Statement ofcash flows			18
Notes to the financial	statements		19-36

				Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
				funds	funds	funds	funds	funds	funds
				2023	2023	2023	2022	2022	2022
			Note
Income from
Donations and legacies				350,000	125,185	475,185		156,523	156,523
Charitable activities				948,421		948,421	873,650		873,650
Trading activities					238,740	238,740		180,019	180,019
Investment income					149	149
Total income				1,298,421	364,074	1,662,495	873,650	336,542	1,210,192
Expenditure
Charitable activities				602,969	298,745	901,714	681,062	225,897	906,959
Trading activities					152,872	152,872		111,397	111,397
Total expenditure				602,969	451,617	1,054,586	681,062	337,294	1,018,356
				695,452	(87,543)	607,909	192,588	(752)	191,836
Gain on revaluation		of
investments			13				16,069		16,069
Net income			8	695,452	(87,543)	607,909	208,657	(752)	207,905
Transfers between		funds	17	(68,895)	68,895		(11,086)	11,086
Net movement	in funds			626,557	(18,648)	607,909	197,571	10,334	207,905
Reconciliation	offunds
Funds at 1April	2022			2,140,747	752,788	2,893,535	1,943,176	742,454	2,685,630
Funds at 31 March 2023				2,767,304	734,140	3,501,444	2,140,747	752,788	2,893,535

			Group		Charity	Charity
			2023	2022	2023		2022
		Note			f
FIXEDASSETS
Tangible assets		11	2,886,726	2,638,872	2,886,726	2,	638,872
Investments		13	37,822	37,822	37,922		37,922
			2,924,548	2,676,694	2,924,648	2,	676,794
CURRENT ASSETS
Stocks		14	39,703	32,684	2,775		2,775
Debtors		15	154,181	293,409	192,758		319,060
Cash at bank and	in hand		453,608	79,657	444,589		76,605
			647,492	405,750	640,122		398,440
CREDITORS: falling due within one year		16	70,596	188,909	68,558		184,267
NET CURRENT ASSETS			576,896	216,841	571,564		214,173
NET ASSETS			3,501,444	2,893,535	3,496,212	2,890,967
CHARITY FUNDS
Restricted funds		17	2,767,304	2,140,747	2,767,304	2,	140,747
Unrestricted funds		17	734,140	752,788	728,908		750,220
TOTAL FUNDS			3,501,444	2,893,535	3,496,212	2,890,967

				2023	2022
Cash flows from operating activities:
Net cash provided by operating	activities			717,747		140,149
Cash flows from investing activities:
Purchase oftangible fixed assets			(343,796)		(290,713)
Net cash used in investing activities				(343,796)		(290,713)
Change in cash &cash equivalents		in the
reporting period				373,951		(150,564)
Cash &cash equivalents at the	start ofthe
reporting period				79,657		230,221
Cash and cash equivalents at the end of
the reporting period				453,608		79,657
Reconciliation of net income	to	net cash flow	from operating	activities
Net income for the reporting	period			607,909		207,905
Adjustments for:
Depreciation			95,942		72,509
(Gain)/loss on investments					(16,069)
(Increase)/decrease in stocks			(7,019)		(16,439)
(Increase)/decrease in debtors			139,228		(81,435)
Increase/(decrease) in creditors			(118,313)		(26,322)
				109,838		(67,756)
Net cash provided by operating		activities		717,747		140,149
Analysis ofcash 8 cash equivalents
Cash in hand				453,608		79,657
Total cash &cash equivalents				453,608		79,657

DONATIONS	AND LEGACIES
	Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
	funds	funds	funds	funds	funds	funds
	2023	2023	2023	2022	2022	2022
Donations/subscriptions		125,185	125,185		156,523	156,523
Legacies	350,000	-	350,000
	350,000	125,185	475,185		156,523	156,523

CHARITA	BLE ACTIVITI	ES - INCOME
		Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
Nature Reserves		102,472		102,472	102,227		102,227
Wider Countryside		156,971		156,971	106,074		106,074
Education	8 Community	514,139		514,139	379,323		379,323
Cors Dyfi	incl DWC	174,839		174,839	286,026		286,026
		948,421		948,421	873,650		873,650

TRADING ACTIVITIES	- INCOME
	Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
	funds	funds	funds	funds	funds	funds
	2023	2023	2023	2022	2022	2022
Grazing		3,750	3,750		4,000	4,000
Consultancy		4,504	4,504		2,471	2,471
Shop 8 cafe sales		158,104	158,104		113,964	113,964
Admissions		65,102	65,102		58,779	58,779
Other		7,280	7,280		805	805
		238,740	238,740		180,019	180,019

		Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
		funds	funds	funds	funds	funds	funds
		2023	2023	2023	2022	2022	2022
Bank interest			149	149
CHARITABLE ACTIVITIES —EXPENDITURE
		Direct	Support	Total	Direct	Support	Total
		2023	2023	2023	2022	2022	2022
					E	E
Project costs		137,006		137,006	228,702		228,702
Wages and salaries		476,131	71,521	547,652	412,759	69,126	481,885
Premises costs			15,930	15,930		14,482	14,482
Operational	costs	10,906	63,415	74,321	9,479	47,703	57,182
Governance	costs		7,036	7,036		5,250	5,250
Membership	costs*		10,830	10,830		30,722	30,722
Travel and motor		12,340	657	12,997	15,831	396	16,227
Depreciation		95,942		95,942	72,509		72,509
		732,325	169,389	901,714	739,280	167,679	906,959

				Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
				funds	funds	funds	funds	funds	funds
				2023	2023	2023	2022	2022	2022
Shop	8	cafe	costs		152,872	152,872		111,397	111,397

This is stated after charg	ing:
		2023	2022
		f
Depreciation oftangible	fixed assets	95,942	72,509
Auditor's remuneration:
- audit		7,036	5,250
- other services		1,380	1,002
Pension costs		23,591	20,519

			2023	2022
				E
Wages and salaries			550,396	481,757
Social security costs			39,111	32,885
Other pension costs			23,591	20,519
			613,098	535,161
The average monthly	number of staff	during the	year was as follows:
			No.	No.
Charitable objectives and support			29	26
No employee received	remuneration	amounting	to more than f60,000 in either year.

		2023	2022
			E
Turnover		158,104	113,964
Cost ofsales and administration	costs	(87,425)	(58,120)
Wages and salaries		(65,447)	(53,276)
Net profit		5,232	2,568
To be gift aided to the Trust		5,232	2,568
Retained in subsidiary
Current assets		45,999	33,505
Creditors —accounts due within	one year	(40,667)	(30,837)
Net assets		5,332	2,668
Share capital		100	100
Profit 8 loss account		5,232	2,568
		5,332	2,668

		Land	Cors Dyfi	Motor	Project/office
		reserves"	property	vehicles	equipment	Total
Cost
At 1 April 2022		649,054	1,987,637	25,195	472,553	3,134,439
Re-categorisation	of
construction costs			(13,632)		13,632
Additions			75,410		210,026	285,436
Additions**			58,360			58,360
At 31 March 2023		649,054	2,107,775	25,195	696,211	3,478,235
Depreciation
At 1 April 2022			168,409	13,195	313,963	495,567
Charge for the year			55,304	4,800	35,838	95,942
At 31 March 2023			223,713	17,995	349,801	591,509
Net book value
At 31 March 2023		649,054	1,884,062	7,200	346,410	2,886,726
At 31March 2022		649,054	1,819,228	12,000	158,590	2,638,872

The following list of reserves represents those for	which the Trust is currently responsible:
	Acres	Total
Glaslyn	535	77,300
Roundton Hill	88	44,336
Dyfnant Meadows	23	15,000
Severn Farm Pond	3	5,394
Llanmerewig Glebe	4	2,875
Ty Brith	14	41,633
Dolydd Hafren	104	43,000
Morfa Dyfi	96	10,829
Llandinam Gravels	94	150,000
Coed Pendugwm (gift)	8
Cwm YWydden (gift)	8
Llyn Mawr (gift)	30
Llandinam Reserve (gift)	1
Red House (gift)	30	30,000
Llyn Coed Y Dinas	20	31,036
Cors Dyfi	41	16,825
Dolforwyn Woods	69	180,826
Leased properties:
1.Llanymynech Rocks	44
2. Pwll Penarth	49
	1,261	649,054

INVESTMENTS
		Group			Charity
		2023	2022	2023		2022
		f				E
Single Farm Payment	Entitlement
Market value at 01.04.22		37,822	21,753	37,822		21,753
Gain on revaluation			16,069			16,069
Market value at 31.03.23		37,822	37,822	37,822		37,822
f100ordinary shares	in subsidiary				100	100
		37,822	37,822	37,922		37,922

14.	STOCKS
					Group		Charity
					2023	2022	2023	2022
					f
	Goods for resale &	stationery			39,703	32,684	2,775	2,775
15.	DEBTORS
					Group		Charity
					2023	2022	2023	2022
	Other debtors				154,181	293,409	192,758	319,060
16.	CREDITORS: amounts		falling due within one		year
					Group		Charity
					2023	2022	2023	2022
					E
	Trade creditors				35,259	45,722	33,821	41,385
	Social security and	other taxes			9,371	11,684	9,371	11,684
	Other creditors					2,209		1,904
	Accruals and deferred		income		25,966	129,294	25,366	129,294
					70,596	188,909	68,558	184,267
17.	STATEMENT OF FUNDS
							Transfers
				Brought			in/(out)-	Carried
				forward	Income	Expenditure	Revaluation	forward
								F
	Designated funds"			468,228				468,228
	General funds			284,560	364,074	(451,617)	68,895	265,912
	Total unrestricted	funds		752,788	364,074	(451,617)	68,895	734,140
	Restricted funds			2,140,747	1,298,421	602,969	68,895	2,767,304
	Total funds			2,893,535	1,662,495	(1,054,586)		3,501,444

STRICTED FUNDS
			Brought forward	Income	Expenditure	Transfers in/(out) *-	Carried forward
						Revaluation
Nature Reserves
Purchase of Llandinam	Gravels
- CCW (now NRW)			11,072			(208)	10,864
Purchase of Dolforwyn	Woods		180,826				180,826
Welsh Government
- Glastir				48,727	(48,727)
- Basic Payment Scheme			14,488	45,884	(45,884)		14,488
- Organic				7,860	(7,860)
Strategic Allocated Funds -		NRW	13,747			(3,437)	10,310
			220,133	102,471	(102,471)	(3,645)	216,488
Wider Countryside
Pumlumon
- Pure Leapfrog				76,808	(45,958)		30,850
Pearl-bordered Fritillaries
- Pioneer Fund —PPL/RSWT				14,458	(14,458)
- Pathways for Pearls	—Hafren
Dyfrdwy				23,319	(19,807)		3,512
Canals, Communities	&Wellbeing
- ENRaW				38,746	(38,746)
Wilder Marches —development
phase				3,640	(1,820)		1,820
				156,971	120,789		36,182
Education &Community
Open Newtown —ENRaW				17,168	(17,168)
Stand for Nature Wales - National
Lottery Community Fund				65,567	(65,567)
Wild Skills, Wild Spaces—
Welsh Government				315,830	(165,831)	(3,296)	146,703
Wild Wellbeing Partnership
Programme - Barcud				11,743	(11,743)
CRM system (membership)		- RSWT	4,800		(4,800)
Green Connections Powys
-Welsh Government				58,990	(58,990)
Team Wilder —NLHF				41,914	(41,914)
MWT Bird Group				2,145	(551)		1,594
Friends of Deri Woods				782	(782)
			4,800	514,139	367,346	3,296	148,297
Other
Dyfi Osprey Project			1,333			(1,333)
Legacy				340,000			340,000
			1,333	340,000		(1,333)	340,000

RESTRICTED FUNDS (continued)
	Brought	Income	Expenditure	Transfers	Carried
	Forward			in/(out)-	Forward
				Revaluation
Cors Dyfi 360Project
Capital
Heritage Fund	450,421			(11,917)	438,504
CAN 3 (NRW)	194,900			(5,185)	189,715
	645,321			(17,102)	628,219
Dyfi Wildlife Centre
Capital
Heritage Fund	529,772	29,966			559,738
Welsh Government
Community Facilities Programme	250,000	50,000			300,000
Garfield Weston	30,000				30,000
Arwain	36,061				36,061
NWWT/ENRaW	36,265	2,125			38,390
MWT	58,915				58,915
Ceredigion CC	2,000	10,800			12,800
Donations	162,188				162,188
Legacy		10,000			10,000
	1,105,201	102,891			1,208,092
Depreciation release	(37,127)			(40,912)	(78,039)
	1,068,074	102,891		40,912	1,130,053
Revenue
Heritage Fund		11,227	11,227
Cors Dyfi Reserve
Car park Isolar energy
Brilliant Basics Fund	118,316	26,224	1,136	5,610	137,794
Boardwalk &security
Nature Networks Fund - NLHF	82,770	44,498		3,003	130,271
Total —Cors Dyfi I DWC	1,914,481	184,840	(12,363)	(60,621)	2,026,337
Total Restricted Funds	2,140,747	1,298,421	602,969	68,895	2,767,304

At 31 M over the	arch 2023 the Trust had total remaining c remaining life ofthose leases as follows:	ommitments under non-cancellable opera	ting leases
		2023	2022
Expiry date:
Within 1	year	4,368	11,997
Between	1 and 2 years	3,350	2,453
Between	2 and 5years	9,332	359
After more than 5years
		17,050	14,809

STATEMENT OFFUNDS	STATEMENT OFFUNDS	STATEMENT OFFUNDS
						Transfers
			Brought			in/(out)-	Carried
			forward	Income	Expenditure	Revaluation	forward
Designated	funds*		468,228				468,228
General funds			274,226	336,542	(337,294)	11,086	284,560
Total unrestricted		funds	742,454	336,542	337,294	11,086	752,788
Restricted	funds		1,943,176	873,650	681,062	4,983	2,140,747
Total funds			2,685,630	1,210,192	(1,018,356)	16,069	2,893,535

RESTRICTED FUNDS
			Brought	Income	Expenditure	Transfers	Carried
			forward			inl(out)-	forward
						Revaluation
Nature Reserves
Purchase ofLlandinam	Gravels
- CCW (now NRW)			11,250			(178)	11,072
Purchase ofDolforwyn	Woods		180,826				180,826
Welsh Government
- Glastir				48,847	(48,847)
-Basic Payment Scheme			(1,581)	45,592	(45,592)	16,069	14,488
- Organic				7,788	(7,788)
Strategic Allocated Funds -		NRW	18,329			(4,582)	13,747
			208,824	102,227	(102,227)	11,309	220,133
Wider Countryside
Pumlumon
- Welsh Government				52,196	(52,196)
- SNPA				1,500	(1,500)
Cefn Croes				6,250	(6,250)
Green Peat/and Recovery
Partnership —NLHF				5,188	(5,188)
Crayfish Monitoring —NRW				4,272	(4,272)
Biodiversity Audits —Hafren		Dyfrdwy		5,768	(5,768)
Curlew Recovery —NRW				30,900	(30,900)
				106,074	106,074
Education 8 Community
Dyfi Osprey Project (re	lift)
- NRW			1,129			(1,129)
Open Newtown				12,385	(12,385)
Stand for Nature Wales	—National
Lottery Community Fund				61,080	(61,080)
Wild Skills, Wild Spaces—
Welsh Government				202,600	(202,600)
Wild We//being Partnership
Programme —Barcud				8,429	(8,429)
Carbon Footprint —PPLJRS		WT		10,000	(10,000)
CRM system (membership)		-RSWT		35,522	(30,722)		4,800
Green Connections Powys
- Welsh Government				49,307	(49,307)
			1,129	379,323	374,523	1,129	4,800
Other
Dyfi Osprey Project			9,626			8,293	1,333
Cors Dyfi 360Project
Capital
Heritage Fund			462,338			(11,917)	450,421
CAN 3 (NRW)			200,085			(5,185)	194,900
			662,423			(17,102)	645,321

			Brought	Income	Expenditure	Transfers	Carried
			Forward			inl(out)-	Forward
						Revaluation
Dyfi Wildlife Centre Capital *
Heritage Fund			494,085	35,687			529,772
Welsh Government
Community Facilities Programme			250,000				250,000
Garfield Weston			30,000				30,000
Arwain			36,061				36,061
EnRAW			36,265	4,167	(4,167)		36,265
MWT			50,575			8,340	58,915
Ceredigion CC			2,000				2,000
Donations			162,188				162,188
			1,061,174	39,854	(4,167)	8,340	1,105,201
Depreciation release						(37,127)	(37,127)
			1,061,174	39,854	(4,167)	(28,787)	1,068,074
Revenue
Heritage Fund				15,277	(15,277)
Arwain				59,378	(59,378)
MWT					(19,416)	19,416
				74,655	94,071	19,416
Cors Dyfi Reserve Carpark Isolar energy
Brilliant Basics Fund				105,301		13,015	118,316
Boardwalk 8 security
Nature Networks	Fund	—NLHF		66,216		16,554	82,770
Total —Cors Dyfi IDWC			1,723,597	286,026	(98,238)	3,096	1,914,481
Total Restricted	Funds		1,943,176	873,650	681,062	4,983	2,140,747