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





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|||||Restricted|Unrestricted|Total|Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|funds|
|||||2023|2023|2023|2022|2022|2022|
||||Note|||||||
|Income from||||||||||
|Donations<br>and legacies||||350,000|125,185|475,185||156,523|156,523|
|Charitable<br>activities||||948,421||948,421|873,650||873,650|
|Trading<br>activities|||||238,740|238,740||180,019|180,019|
|Investment<br>income|||||149|149||||
|Total income||||1,298,421|364,074|1,662,495|873,650|336,542|1,210,192|
|Expenditure||||||||||
|Charitable<br>activities||||602,969|298,745|901,714|681,062|225,897|906,959|
|Trading<br>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<br>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|





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





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|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|





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## 

|||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<br>oftangible|fixed assets|95,942|72,509|
|Auditor's<br>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<br>monthly|number of staff|during the|year was as follows:||
||||No.|No.|
|Charitable<br>objectives and support|||29|26|
|No employee<br>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<br>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|





## 

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## 

|||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<br>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|



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## 

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





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|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<br>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<br>forward|Income|Expenditure|Transfers<br>in/(out) *-|Carried<br>forward|
|||||||Revaluation||
|Nature Reserves||||||||
|Purchase<br>of Llandinam|Gravels|||||||
|- CCW (now NRW)|||11,072|||(208)|10,864|
|Purchase<br>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<br>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<br>Fritillaries||||||||
|- Pioneer Fund —PPL/RSWT||||14,458|(14,458)|||
|- Pathways<br>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<br>&Community||||||||
|Open Newtown —ENRaW||||17,168|(17,168)|||
|Stand for Nature Wales - National||||||||
|Lottery Community<br>Fund||||65,567|(65,567)|||
|Wild Skills, Wild Spaces—||||||||
|Welsh Government||||315,830|(165,831)|(3,296)|146,703|
|Wild Wellbeing<br>Partnership||||||||
|Programme<br>- Barcud||||11,743|(11,743)|||
|CRM system (membership)||- RSWT|4,800||(4,800)|||
|Green Connections<br>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|





## 

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|RESTRICTED FUNDS (continued)||||||
|---|---|---|---|---|---|
||Brought|Income|Expenditure|Transfers|Carried|
||Forward|||in/(out)-|Forward|
|||||Revaluation||
|Cors Dyfi 360Project||||||
|Capital||||||
|Heritage<br>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<br>Fund|529,772|29,966|||559,738|
|Welsh Government||||||
|Community<br>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<br>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<br>release|(37,127)|||(40,912)|(78,039)|
||1,068,074|102,891||40,912|1,130,053|
|Revenue||||||
|Heritage<br>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<br>&security||||||
|Nature<br>Networks<br>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|





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|At 31 M<br>over the|arch 2023 the Trust had total remaining<br>c<br> remaining<br>life ofthose leases as follows:|ommitments<br>under<br>non-cancellable<br>opera|ting<br>leases|
|---|---|---|---|
|||2023|2022|
|Expiry date:||||
|Within<br>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<br>Recovery||||||||
|Partnership<br>—NLHF||||5,188|(5,188)|||
|Crayfish<br>Monitoring<br>—NRW||||4,272|(4,272)|||
|Biodiversity Audits —Hafren||Dyfrdwy||5,768|(5,768)|||
|Curlew Recovery<br>—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<br>Wales|—National|||||||
|Lottery Community<br>Fund||||61,080|(61,080)|||
|Wild Skills,<br>Wild Spaces—||||||||
|Welsh Government||||202,600|(202,600)|||
|Wild We//being<br>Partnership||||||||
|Programme<br>—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<br>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<br>Capital *||||||||
|Heritage Fund|||494,085|35,687|||529,772|
|Welsh Government||||||||
|Community<br>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<br>CC|||2,000||||2,000|
|Donations|||162,188||||162,188|
||||1,061,174|39,854|(4,167)|8,340|1,105,201|
|Depreciation<br>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<br>Carpark Isolar energy||||||||
|Brilliant Basics Fund||||105,301||13,015|118,316|
|Boardwalk 8 security||||||||
|Nature<br>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|