IRIS Accounts Production v24.1.4.33 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY Ms L A Clarke G R Biss B G P Friend R Lovegrove P D Thomas FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033181412023-03-31033181412024-03-31033181412023-04-012024-03-31033181412022-03-31033181412022-04-012023-03-31033181412023-03-3103318141ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-3103318141ns15:PoundSterling2023-04-012024-03-3103318141ns0:Trustee22023-04-012024-03-3103318141ns0:Trustee32023-04-012024-03-3103318141ns0:Trustee12023-04-012024-03-3103318141ns0:Trustee42023-04-012024-03-3103318141ns0:Trustee52023-04-012024-03-3103318141ns11:FRS1022023-04-012024-03-3103318141ns11:IndependentExaminationCharity2023-04-012024-03-3103318141ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103318141ns11:FullAccounts2023-04-012024-03-3103318141ns11:CharitiesSORP2023-04-012024-03-3103318141ns16:EnglandWales2023-04-012024-03-3103318141ns11:RegisteredOffice2023-04-012024-03-3103318141ns0:TotalUnrestrictedFunds2023-04-012024-03-3103318141ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3103318141ns0:Activity82023-04-012024-03-3103318141ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-3103318141ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3103318141ns0:Activity82022-04-012023-03-3103318141ns0:Activity92023-04-012024-03-3103318141ns0:TotalUnrestrictedFundsns0:Activity92023-04-012024-03-3103318141ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3103318141ns0:Activity92022-04-012023-03-3103318141ns0:Activity102023-04-012024-03-3103318141ns0:TotalUnrestrictedFundsns0:Activity102023-04-012024-03-3103318141ns0:Activity10ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3103318141ns0:Activity102022-04-012023-03-3103318141ns0:Activity112023-04-012024-03-3103318141ns0:Activity11ns0:TotalUnrestrictedFunds2023-04-012024-03-3103318141ns0:Activity11ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3103318141ns0:Activity112022-04-012023-03-3103318141ns0:TotalUnrestrictedFunds2023-03-3103318141ns0:TotalRestrictedIncomeFunds2023-03-3103318141ns0:TotalUnrestrictedFunds2024-03-3103318141ns0:TotalRestrictedIncomeFunds2024-03-3103318141ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-3103318141ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-03-3103318141ns10:WithinOneYear2024-03-3103318141ns10:WithinOneYear2023-03-3103318141ns10:LandBuildingsns10:LongLeaseholdAssets2023-04-012024-03-3103318141ns10:FurnitureFittingsToolsEquipment2023-04-012024-03-3103318141ns10:MotorVehicles2023-04-012024-03-310331814122023-04-012024-03-310331814112023-04-012024-03-310331814112022-04-012023-03-3103318141122023-04-012024-03-3103318141122022-04-012023-03-3103318141132023-04-012024-03-3103318141132022-04-012023-03-3103318141142023-04-012024-03-3103318141142022-04-012023-03-3103318141ns10:OwnedAssets2023-04-012024-03-3103318141ns10:OwnedAssets2022-04-012023-03-3103318141ns0:TotalUnrestrictedFunds2022-04-012023-03-3103318141ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3103318141ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-3103318141ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3103318141ns0:TotalUnrestrictedFundsns0:Activity92022-04-012023-03-3103318141ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3103318141ns0:TotalUnrestrictedFundsns0:Activity102022-04-012023-03-3103318141ns0:Activity10ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3103318141ns0:Activity11ns0:TotalUnrestrictedFunds2022-04-012023-03-3103318141ns0:Activity11ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3103318141ns10:LandBuildingsns10:LongLeaseholdAssets2023-03-3103318141ns10:FurnitureFittings2023-03-3103318141ns10:MotorVehicles2023-03-3103318141ns10:ComputerEquipment2023-03-3103318141ns10:FurnitureFittings2023-04-012024-03-3103318141ns10:ComputerEquipment2023-04-012024-03-3103318141ns10:LandBuildingsns10:LongLeaseholdAssets2024-03-3103318141ns10:FurnitureFittings2024-03-3103318141ns10:MotorVehicles2024-03-3103318141ns10:ComputerEquipment2024-03-3103318141ns10:LandBuildingsns10:LongLeaseholdAssets2023-03-3103318141ns10:FurnitureFittings2023-03-3103318141ns10:MotorVehicles2023-03-3103318141ns10:ComputerEquipment2023-03-3103318141ns10:BetweenOneFiveYears2024-03-3103318141ns10:BetweenOneFiveYears2023-03-3103318141ns10:AllPeriods2024-03-3103318141ns10:AllPeriods2023-03-31
REGISTERED COMPANY NUMBER: 03318141 (England and Wales)
REGISTERED CHARITY NUMBER: 1083233














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NATURAL ENTERPRISE LTD

NATURAL ENTERPRISE LTD

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 22

NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objects and aims
The objects of the Trust are to:

-undertake economic and environmental development through the delivery of programmes, projects and contracts;
-promote and support sustainable development, strategic planning and delivery in the fields of economic and/or environmental development and social inclusion;
-promote and support education, training and retraining to improve the skills of the workforce and to promote the development of industry, commerce and enterprise of all forms for the benefit of the community;
-promote the development of existing businesses and the establishment of new businesses;
-provide a means of securing corporate and individual involvement on the Isle of Wight to develop business links with and between enterprises, authorities and agencies to develop and foster working relationships that will enhance the prosperity of the area and to stimulate public awareness;
-collect, analyse and disseminate economic, environmental and other information on all subjects of interest to the Members, partners and others;
-promote social inclusion in the sustainable economic and environmental development;
-offer commercial services for the conservation, protection, reinstatement and improvement of the physical and natural environment to include the research and development of environmental thinking, policy and strategy and advise businesses on environmental sustainability and social responsibility;
-seek, assess and secure investment in the areas of economic and environmental development;
-support this work by entering into any arrangements with any government, authority, department, person or institution, whether European, national, local or otherwise, that may seem conducive to the Company's objects or any of them; and to obtain from any of them any grant assistance, rights, privileges, licences, contracts and concessions; and to carry out exercise and comply with any such arrangements, grant assistance, rights, privileges, licences, contracts and concessions.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit.

Public benefit
All the activities of the Trust focus on delivering community benefit and are in accordance with the objects of the Trust.

The Trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.


NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


ACHIEVEMENT AND PERFORMANCE
Review of the business
Another good year with all the core work being successfully delivered and a number of important projects progressing well.

The objective for Gift to Nature remains to provide residents and visitors open and free access to the Island's Countryside and natural environment. During the year we continued to benefit from the funding secured from the National Lottery Reaching Communities Fund to allow site enhancements and greater community engagement.

The Gift to Nature shop had another indifferent year and after very careful consideration the decision was taken to serve notice to the landlord to close the shop in April 2024.

We delivered another successful year of the Non Native Plants project, with its work to protect the island's natural environment by controlling the spread of invasive plants. This work is co-ordinated and managed by the Natural Enterprise team with tremendous help from a strong band of volunteers. Landowners both from the public and private sectors are benefiting from this work. This is set to continue in 2024/25.

Our work co-ordinating and leading the Island Rivers Partnership on behalf of the Environmental Agency has continued, with over 20 local and national groups and organisations engaged. This partnership has developed well and provides a coherent and dynamic approach to the development of the Island's watercourses. Complementary site specific projects are being delivered.

Support for the Royal Isle of Wight Agricultural Society manifested itself in another buoyant Royal Isle of Wight County Show, with increased visitors numbers and exhibitors. The Society's well established Education Day was once again oversubscribed and was a great success.

Work on the Appley Tower project progressed well with the tower renovation work expected to be completed by mid 2024. A key part of the project is to promote the history of the tower to a wider cross section of the community which has been achieved in a number of different ways to include the creation of a play and display material.

Natural Enterprise now holds a 25 lease over the tower and 4 newly constructed beach huts. When the renovation work is complete the tower will reopen to the public as an art gallery, operated by Monkton Arts.

With Defra funding via the Future Farming Resilience Fund (FFRF) support to farmers and land managers in the post Brexit Agricultural Transition period has continued.

A number of other smaller community benefit projects were undertaken in 2023/24, all consistent with the Trust's objects to support the Island's natural environment and rural economy.

Our partnership working and collaborative ethos continue to be key principles to our work.

Governance remains strong with the Trustees and Directors meeting on a regular basis, both formally and informally.

FINANCIAL REVIEW
Financial position
Total income for the year amounted to £632,295 (2023 - £399,547). Costs of generating funds amounted to £50,144 (2023 - £43,870). Costs of charitable activities amounted to £569,866 (2023 - £345,247).

Unrestricted and restricted funds carried forward at the end of the year amounted to £209,316 (2023 - £200,509) and £71,175 (2023 - £67,697) respectively.

Investment policy
The trustees have the power to invest in such assets as they see fit.

NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


FINANCIAL REVIEW
Reserves policy
The reserves policy remains the retention of a level of unrestricted funds, not committed or invested in fixed assets, equivalent to six months operational costs. This reserve provides a buffer against sudden or unexpected financial change and would allow the charity time to adjust accordingly.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Natural Enterprise is constituted under a Memorandum and Articles of Association incorporated 13 February 1997, and amended 5 October 2010, 11 June 2019 and 22 July 2020, and is a registered company (33181410). It is also a registered charity (1083233).

Induction and training of new trustees
All members of the trustee board are inducted and trained in a timely fashion and understand their responsibilities. New Trustees undergo orientation related to their obligations in respect of charity and company law, the memorandum and articles of association, and the decision making process.

Risk management
The risk management strategy is to consider and regularly review the main risks the charity may face. Systems are in place to mitigate these risks and to implement procedures to minimise the impact of difficult events. A Risk Register is maintained and updated on a regular basis. It is the view of the Trustees that prudent risk management should aim to increase the level of financial protection, and organisational flexibility and is achieved by the current reserves policy.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03318141 (England and Wales)

Registered Charity number
1083233

Registered office
Shide Meadows Centre
Shide Road
Newport
Isle of Wight
PO30 1HR

Trustees
The trustees serving during the year were as follows:

Mrs L A Clarke - Vice Chairman
B G P Friend - Chairman
G R Biss
R Lovegrove
P D Thomas

No trustee held any interest in the company during the two years ended 31 March 2024.

The Memorandum and Articles of Association gives prescribed minimum and maximum numbers of Trustees allowed, being no less than two and no more than sixteen.


NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

Approved by order of the board of trustees on 30 October 2024 and signed on its behalf by:





B G P Friend - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NATURAL ENTERPRISE LTD


Independent examiner's report to the trustees of Natural Enterprise Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








J Palmer
The Association of Chartered Certified Accountants

Bright Brown Limited
Chartered Accountants
Isle of Wight

Date: .............................................

NATURAL ENTERPRISE LTD

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 51 5,629 5,680 7,355

Charitable activities 5
Gift to Nature - 133,921 133,921 115,536
Charitable activities 255,779 151,779 407,558 197,427
Island Rivers - 15,000 15,000 15,000
Royal IW Agricultural Society 34,816 - 34,816 28,903

Other trading activities 3 - 29,664 29,664 31,466
Investment income 4 5,356 - 5,356 1,991
Other income 6 300 - 300 1,869
Total 296,302 335,993 632,295 399,547

EXPENDITURE ON
Raising funds 7 9,754 40,390 50,144 43,870

Charitable activities 8
Gift to Nature - 125,307 125,307 125,799
Charitable activities 212,534 178,234 390,768 167,739
Island Rivers - 15,040 15,040 14,703
Royal IW Agricultural Society 38,751 - 38,751 37,006
Total 261,039 358,971 620,010 389,117

NET INCOME/(EXPENDITURE) 35,263 (22,978 ) 12,285 10,430
Transfers between funds 19 (26,456 ) 26,456 - -
Net movement in funds 8,807 3,478 12,285 10,430

RECONCILIATION OF FUNDS
Total funds brought forward 200,509 67,697 268,206 257,776

TOTAL FUNDS CARRIED FORWARD 209,316 71,175 280,491 268,206

NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

BALANCE SHEET
31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 14 9,008 - 9,008 10,255

CURRENT ASSETS
Stocks 15 - 1,950 1,950 5,940
Debtors 16 121,537 - 121,537 69,144
Cash at bank and in hand 365,449 69,223 434,672 423,066
486,986 71,173 558,159 498,150

CREDITORS
Amounts falling due within one year 17 (286,676 ) - (286,676 ) (240,199 )

NET CURRENT ASSETS 200,310 71,173 271,483 257,951

TOTAL ASSETS LESS CURRENT LIABILITIES 209,318 71,173 280,491 268,206

NET ASSETS 209,318 71,173 280,491 268,206
FUNDS 19
Unrestricted funds 209,318 200,509
Restricted funds 71,173 67,697
TOTAL FUNDS 280,491 268,206

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


NATURAL ENTERPRISE LTD (REGISTERED NUMBER: 03318141)

BALANCE SHEET - continued
31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2024 and were signed on its behalf by:





B G P Friend - Trustee

NATURAL ENTERPRISE LTD

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 10,547 (114,268 )
Net cash provided by/(used in) operating activities 10,547 (114,268 )

Cash flows from investing activities
Purchase of tangible fixed assets (4,297 ) (2,553 )
Interest received 5,356 1,991
Net cash provided by/(used in) investing activities 1,059 (562 )

Change in cash and cash equivalents in the
reporting period

11,606

(114,830

)
Cash and cash equivalents at the beginning
of the reporting period

423,066

537,896
Cash and cash equivalents at the end of the
reporting period

434,672

423,066

NATURAL ENTERPRISE LTD

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024 2023
£    £   
Net income for the reporting period (as per the Statement of Financial
Activities)

12,285

10,430
Adjustments for:
Depreciation charges 5,544 7,049
Interest received (5,356 ) (1,991 )
Decrease/(increase) in stocks 3,990 (334 )
Increase in debtors (52,393 ) (24,930 )
Increase/(decrease) in creditors 46,477 (104,492 )
Net cash provided by/(used in) operations 10,547 (114,268 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 423,066 11,606 434,672
423,066 11,606 434,672
Total 423,066 11,606 434,672

NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES

Basis of preparing the 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 102) '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)', 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.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Long leasehold - Straight line over 125 years
Fixtures and fittings - 20% on reducing balance and Straight line over 3 years
Motor vehicles - 25% on reducing balance

The cost of fixed assets is their purchase costs, together with any incidental expenses of acquisition.

The trustees consider the writing down periods are adequate to reflect the useful economic lives of the assets and therefore that no impairment review is necessary.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure charged against the restricted fund represents revenue costs incurred during the year for the purpose specified.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Donations 51 5,629 5,680 7,355

3. OTHER TRADING ACTIVITIES
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Shop income - 29,664 29,664 31,466

4. INVESTMENT INCOME
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Deposit account interest 5,356 - 5,356 1,991


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Activity £    £   
Management IWC Gift to Nature 63,869 63,184
Town and parish councils Gift to Nature 34,141 31,417
Grants Gift to Nature 20,002 4,001
Car park income Gift to Nature 15,909 16,934
Project income Charitable activities 94,371 33,279
Grants Charitable activities 313,187 164,148
Grants Island Rivers 15,000 15,000
Project income Royal IW Agricultural Society 34,816 28,903
591,295 356,866

Grants received, included in the above, are as follows:
2024 2023
£    £   
Gift to Nature 20,002 4,000
Other grants 88,989 103,011
Island Rivers 15,000 15,000
Future Farming Resilience Fund 125,684 59,872
Appley Tower 98,514 1,266
348,189 183,149

6. OTHER INCOME
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Other income 300 - 300 604
Insurance claims - - - 1,265
300 - 300 1,869


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. RAISING FUNDS

Raising donations and legacies
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Fundraising expenses 9,754 - 9,754 5,446


Other trading activities
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Opening stock - 5,940 5,940 5,606
Purchases - 8,817 8,817 14,381
Closing stock - (1,950 ) (1,950 ) (5,940 )
Staff costs - 16,160 16,160 13,477
Other operating leases - 7,000 7,000 6,042
Rates and water - 866 866 846
Insurance - 589 589 490
Light and heat - 489 489 854
Staff costs - 80 80 69
Post and stationery - 340 340 142
Travelling - 52 52 371
Computer costs - 391 391 364
Licences and subscriptions - 437 437 268
Repairs and renewals - 95 95 221
Sundry expenses - 28 28 76
Bank charges - 1,056 1,056 1,157
- 40,390 40,390 38,424

Aggregate amounts 9,754 40,390 50,144 43,870


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 9)
£   
Gift to Nature 125,307
Charitable activities 390,768
Island Rivers 15,040
Royal IW Agricultural Society 38,751
569,866

9. DIRECT COSTS OF CHARITABLE ACTIVITIES
2024 2023
£    £   
Staff costs 207,865 148,717
Insurance 7,459 5,535
Light and heat 6,784 2,753
Telephone 1,107 1,035
Postage and stationery 2,473 2,582
Advertising 3,626 6,776
Sundries 286 6,798
Local projects 248,247 115,241
Bank charges 1,099 1,034
Professional fees 34,255 13,469
Motor expenses 5,866 6,429
Travelling expenses 259 305
Staff costs 5,942 1,966
Bookkeeping 1,920 1,920
Rates and water 1,102 205
Repairs and renewals 4,082 5,798
Computer costs 8,525 6,253
Licences and subscriptions 205 311
Unclaimable input VAT 21,770 8,371
Independent examination fees 1,450 1,400
Independent examiners fee for non-IE work - 1,300
Depreciation 5,544 7,049
569,866 345,247


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 5,543 7,049
Other operating leases 7,000 6,042

11. TRUSTEES' REMUNERATION AND BENEFITS

During the year, the charity paid Mr G Biss a gross remuneration of £48,878, and made employer pension contributions of £6,225 on behalf of Mr G Biss, for his role as the managing director. This is authorised under a provision as stated in the charity's governing document.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


The charity reimbursed expenses totalling £1,247 to 1 trustee.

12. STAFF COSTS
2024 2023
£    £   
Wages and salaries 196,873 144,162
Social security costs 9,835 5,028
Other pension costs 17,317 13,004
224,025 162,194

The average monthly number of employees during the year was as follows:

2024 2023
Charitable activities 9 8

No employees received emoluments in excess of £60,000.


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 405 6,950 7,355

Charitable activities
Gift to Nature - 115,536 115,536
Charitable activities 188,369 9,058 197,427
Island Rivers - 15,000 15,000
Royal IW Agricultural Society 28,903 - 28,903

Other trading activities - 31,466 31,466
Investment income 1,991 - 1,991
Other income 1,265 604 1,869
Total 220,933 178,614 399,547

EXPENDITURE ON
Raising funds 3,696 40,174 43,870

Charitable activities
Gift to Nature - 125,799 125,799
Charitable activities 155,219 12,520 167,739
Island Rivers - 14,703 14,703
Royal IW Agricultural Society 37,006 - 37,006
Total 195,921 193,196 389,117

NET INCOME/(EXPENDITURE) 25,012 (14,582 ) 10,430
Transfers between funds (5,211 ) 5,211 -
Net movement in funds 19,801 (9,371 ) 10,430

RECONCILIATION OF FUNDS
Total funds brought forward 180,707 77,069 257,776

TOTAL FUNDS CARRIED FORWARD 200,508 67,698 268,206


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


14. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1 18,852 840 15,224 34,917
Additions - 3,964 - 332 4,296
At 31 March 2024 1 22,816 840 15,556 39,213
DEPRECIATION
At 1 April 2023 - 13,702 420 10,540 24,662
Charge for year - 3,579 210 1,754 5,543
At 31 March 2024 - 17,281 630 12,294 30,205
NET BOOK VALUE
At 31 March 2024 1 5,535 210 3,262 9,008
At 31 March 2023 1 5,150 420 4,684 10,255

All of the fixed assets are used in the direct furtherance of the charity's objectives.

15. STOCKS
2024 2023
£    £   
Stocks 1,950 5,940

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,209 59,506
Other debtors 64,700 4,653
Prepayments 5,628 4,985
121,537 69,144


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,683 2,271
VAT 4,440 7,675
Other creditors 5,139 6,676
Deferred income 242,767 197,725
Accrued expenses 23,647 25,852
286,676 240,199

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£    £   
Within one year 403 5,958
Between one and five years 1 -
404 5,958

19. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.23 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 195,488 36,293 (26,456 ) 205,325
Future Farming Resilience Fund 5,021 (1,028 ) - 3,993
200,509 35,265 (26,456 ) 209,318
Restricted funds
Gift to Nature 66,992 3,515 - 70,507
Island Rivers 705 (39 ) - 666
Appley Tower - (26,456 ) 26,456 -
67,697 (22,980 ) 26,456 71,173
TOTAL FUNDS 268,206 12,285 - 280,491

NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 170,346 (134,053 ) 36,293
Future Farming Resilience Fund 125,956 (126,984 ) (1,028 )
296,302 (261,037 ) 35,265
Restricted funds
Gift to Nature 169,214 (165,699 ) 3,515
Island Rivers 15,001 (15,040 ) (39 )
Appley Tower 98,513 (124,969 ) (26,456 )
West Wight Greenway 53,265 (53,265 ) -
335,993 (358,973 ) (22,980 )
TOTAL FUNDS 632,295 (620,010 ) 12,285


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 180,707 19,992 (5,211 ) 195,488
Future Farming Resilience Fund - 5,021 - 5,021
180,707 25,013 (5,211 ) 200,509
Restricted funds
Gift to Nature 76,661 (9,669 ) - 66,992
Island Rivers 408 297 - 705
Appley Tower - (5,211 ) 5,211 -
77,069 (14,583 ) 5,211 67,697
TOTAL FUNDS 257,776 10,430 - 268,206

NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 161,062 (141,070 ) 19,992
Future Farming Resilience Fund 59,872 (54,851 ) 5,021
220,934 (195,921 ) 25,013
Restricted funds
Gift to Nature 154,554 (164,223 ) (9,669 )
Island Rivers 15,000 (14,703 ) 297
Appley Tower 9,059 (14,270 ) (5,211 )
178,613 (193,196 ) (14,583 )
TOTAL FUNDS 399,547 (389,117 ) 10,430


Gift to Nature is the flagship conservation project of Natural Enterprise Ltd, looking after 174 hectares of the Isle of Wight's countryside. We deliver conservation projects in the public realm of the Island each year and specifically we:

- look after countryside and green spaces on the Isle of Wight
- help people improve the land they manage
- run lots of interesting and fun events to inform people about the importance of the Island's natural
environment
- promote routes to access the countryside
- look after special habitats and species
- give advice and support to people about how to do these things for themselves

Island Rivers is a project to develop a whole island approach to the development and protection of rivers across the Isle of Wight.

The Future Farming Resilience Fund represents funding received from Defra which allows the delivery of a range of support measures to farmers and land managers.

The Appley Tower fund represents funding secured to undertake renovations to the tower and delivery of a heritage engagement programme.


NATURAL ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.