REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NATURAL ENTERPRISE LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
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 |
Registered Charity number |
Registered office |
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 |
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 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Other income | 6 |
Total |
EXPENDITURE ON |
Raising funds | 7 |
Charitable activities | 8 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 19 | (26,456 | ) | 26,456 | - | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 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 |
CURRENT ASSETS |
Stocks | 15 |
Debtors | 16 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 17 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
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 |
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 | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Shop income | - | 29,664 |
4. | INVESTMENT INCOME |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Deposit account interest | 5,356 | - |
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 |
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 |
Purchases | - | 8,817 |
Closing stock | - | (1,950 | ) | ( |
) | ( |
) |
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 |
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 |
Social security costs |
Other pension costs |
224,025 | 162,194 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Charitable activities |
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 |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
37,006 | - |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (5,211 | ) | 5,211 | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 180,707 | 77,069 |
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 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
All of the fixed assets are used in the direct furtherance of the charity's objectives. |
15. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
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 |
VAT | 4,440 | 7,675 |
Other creditors |
Deferred income |
Accrued expenses |
18. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
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 |