Registered number: 14690360
Charity number: 1209520
SPACE FOR THE WILD
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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SPACE FOR THE WILD
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Charity, its Trustees and advisers
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Independent examiner's report
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Statement of financial activities
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Notes to the financial statements
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SPACE FOR THE WILD
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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J Doherty (appointed 27 February 2023, resigned 3 July 2023)
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M Doherty (appointed 27 February 2023)
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P Kelly (appointed 3 July 2023)
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A Kerr (appointed 7 May 2023)
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K Newton (appointed 3 July 2023)
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S Sheppard (appointed 27 February 2023)
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Company registered number
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Charity registered number
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1 Claydon Business Park
Great Blakenham
Ipswich
Suffolk
IP6 0NL
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Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL
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SPACE FOR THE WILD
(A company limited by guarantee)
CHAIRMAN'S STATEMENT
FOR THE PERIOD ENDED 29 FEBRUARY 2024
It is with great pride that I present the first annual report and financial accounts for Space for the Wild, covering the period ending 29 February 2024. Our charity was founded with the belief that protecting the natural world is not just a necessity, but a responsibility that we all share. As we reflect on our first year, it is clear that the work we have embarked on is vital for the future of our planet, and we are excited by the progress we have made.
Our Vision and Mission
Space for the Wild was created to address the pressing need to protect our planet, our habitats and our wildlife, both indigenous and exotic.
Our mission is to preserve the beauty and integrity of natural habitats while fostering a deeper connection between people and the environment. We aim to create habitats, push for regenerative farming, rescue and rehabilitate wildlife.
Key Achievements
In our inaugural year, we have laid a good foundation for future growth, with a number of significant milestones:
∙Community Engagement:
Public support has been a cornerstone of our mission. Through our awareness campaign, we have engaged many individuals who are passionate about preserving the natural world. These supporters have become an integral part of our work, helping to expand our reach and influence.
∙Fundraising Success:
I am pleased to report that our fundraising efforts have been positive. Thanks to the generosity of our donors, we have achieved our initial financial targets. This strong financial position has enabled us to support our first project.
Financial Performance
For the year ending 29 February 2024, Space for the Wild achieved a total income in excess of £120,000, reflecting strong support from donors and corporate supporters. Our total expenditure for the year was £115,000 with the majority of funds being directed toward our first project, that of saving Diego, a Brown Bear facing death due to the closure of his Park, giving way to the development of a leisure facility. We are proud to have achieved a positive balance in our first year, allowing us to carry forward reserves into 2024 for the continued expansion of future projects.
Future Outlook
We remain committed to ensuring that our operations are sustainable and that every donation we receive is used effectively to drive change and support our objectives. We also aim to grow our base of supporters, bringing even more individuals into our mission to protect the wild spaces that are critical to the health of our planet.
Appreciation
I would like to extend my heartfelt thanks to everyone who has made our first year such a success. To our donors and corporate supporters, your help has been invaluable. I am also grateful to my fellow trustees for their leadership and tireless work in delivering our mission.
As we move into our second year, I am confident that Space for the Wild will continue to grow and thrive, making an ever-greater impact on the world’s natural environment. Together, we are building a future where nature is respected, protected, and restored for generations to come.
M Doherty
Chair of Trustees
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SPACE FOR THE WILD
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE PERIOD ENDED 29 FEBRUARY 2024
The Trustees present their annual report together with the financial statements of the Charity for the period 27 February 2023 to 29 February 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Charity's objects are restricted specifically, and only for the public benefit to promote, for the benefit of the public the conservation, protection and improvement of the physical and natural environment, biodiversity and natural habitats of endangered species by:
(a) promoting the creation of new natural habitats and environments anywhere in the world;
(b) promoting the conservation, protection and re-establishment of existing natural habitats;
(c) advancing the education of conservation bodies and the general public in matters pertaining to, but not limited to; the conservation of at risk or endangered wildlife, protection of the natural environment and the impacts of agricultural and forestry production;
(d) carrying out and disseminating and publishing scientific study and research on the natural environment, at risk or endangered animals and the conservation of natural habitats; and
(e) promoting humane behaviour towards at risk or endangered species by providing care, protection and treatment for those species and to educate the public in the prevention of cruelty and suffering among animal species identified as becoming at risk, endangered or are in need of care and protection by reason of poor circumstances or ill usage.
Our charitable activities are focused on delivering these objectives in a measurable and impactful way, and we are proud of the achievements made during our first year.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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SPACE FOR THE WILD
(A company limited by guarantee)
Achievements and performance
a. Main achievements of the Charity
Our first year has been a period of significant growth and development, laying a strong foundation for future success. Key achievements for the year include:
∙Supporting the Big Bear Rescue Project:
Space for the Wild enabled the rescue of Brown Bear Diego from Orsa Predator Park in Sweden, which was closed during the year to make way for a leisure facility, when any animals that could not be rehomed would be euthanised.
∙Public Engagement and Awareness:
Our public awareness campaign reached many individuals, fostering a deeper understanding of the importance of wild spaces and the need to protect animals in need.
∙Successful Fundraising:
We are pleased to report that our fundraising raised £122,000. This was achieved through a combination of individual donations an auction and holding a Charity Ball. These funds have been critical in enabling us to launch and sustain our projects, as well as establish a reserve for future activities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Results for the year and reserves policy
The financial position of Space for the Wild for the year ending 29 February 2024 is positive, reflecting the success of our fundraising efforts and prudent management of resources .
The Statement of Financial Activities for the year is set out on page 9 of the financial statements. The surplus for the year is £6,710, giving total unrestricted reserves carried forward of £6,710.
It is the aim of the charity to maintain unrestricted funds which are free reserves of the charity at a level which equates to approximately 12 months of unrestricted expenditure. We have established a reserves policy to ensure the charity is financially resilient.
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SPACE FOR THE WILD
(A company limited by guarantee)
Structure, governance and management
Space for the Wild was incorporated in February 2023 and recently registered as a charity, governed by our constitution which outlines our objectives, structure, and the responsibilities of the Trustees. The Board of Trustees is responsible for setting the strategic direction of the charity, ensuring it operates within its charitable purposes, and overseeing the proper management of funds and resources.
During this first year, the Trustees have worked diligently to establish robust governance procedures, ensuring that the charity operates with transparency and accountability. The charity has appointed a board of Trustees, who meet regularly to review progress, evaluate risks, and set future priorities.
a. Constitution
The charity is constituted as a company limited by guarantee, and is governed by a Memorandum and Articles
of Association, last updated in August 2024.
b. Methods of appointment or election of Trustees
New Trustees are appointed through a formal process, ensuring that individuals with the right skills and experience are added to the Board. We also provide ongoing training and development opportunities to ensure Trustees are well-equipped to carry out their responsibilities effectively.
c. Risk Management
∙Financial risk:
To mitigate financial risk, we have developed a diversified income strategy, reducing reliance on any single source of funding. Regular financial reviews are conducted to ensure we are on track with our targets and that funds are being used effectively. The key risks identified include:
∙Reputational risk:
As a new charity, it is vital to build and maintain a positive reputation. We have established clear communication guidelines, a code of conduct for all staff and volunteers, and strict environmental policies to ensure we uphold the highest standards of integrity.
d. Plans for the Future
As we move into our second year, Space for the Wild is focused on expanding our conservation efforts and increasing our impact. Our strategic priorities for the coming year include:
∙Expanding Conservation Programs:
We aim to launch new conservation initiatives in additional regions, focusing on protecting critical habitats and increasing biodiversity.
∙Growing Public Engagement:
We will continue to develop our education and outreach programs, building a stronger community of supporters and volunteers who are passionate about protecting wild spaces.
∙Strengthening Financial Sustainability:
Diversifying our income streams remains a priority. We will pursue additional fundraising campaigns to ensure a stable financial base for future growth.
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SPACE FOR THE WILD
(A company limited by guarantee)
Structure, governance and management (continued)
e. Conclusion
The Trustees are proud of the progress made during our first year and are confident in the charity’s future. We are deeply grateful to our donors for their commitment and support. With continued dedication, Space for the Wild is well-positioned to make a lasting and meaningful impact on the protection of our planet, our habitats and our wildlife.
We look forward to another year of growth, collaboration, and achievement in our shared mission to safeguard the natural world.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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SPACE FOR THE WILD
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 29 FEBRUARY 2024
Independent examiner's report to the Trustees of Space for the Wild ('the Charity')
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I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 29 February 2024.
Responsibilities and basis of report
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As the Trustees of the Charity (and 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').
The Company was incorporated on 27 February 2023, with charitable purposes, and registered as a charity at Charity Commission on 9 August 2024. At the date of approval of the financial statements the Company is a registered charity, and has operated within its charitable purpose during the period. As such I report and have conducted my examination as if the Company were a Charity for the period.
Having satisfied myself that the accounts of the Charity 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 the Charity's accounts 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
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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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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).
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
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SPACE FOR THE WILD
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
Signed: Dated: 26 February 2025
Christopher Yeates FCA DChA
Larking Gowen LLP
Chartered Accountants
Ipswich
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SPACE FOR THE WILD
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the period.
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The notes on pages 11 to 16 form part of these financial statements.
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SPACE FOR THE WILD
(A company limited by guarantee)
REGISTERED NUMBER: 14690360
BALANCE SHEET
AS AT 29 FEBRUARY 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
Space for the Wild is a charitable Company, limited by guarantee without share capital. It has a Charity number of 1209520 and Company number of 14690360. The registered office address can be found on the Charity information page in these financial statements. The principal activity is to promote, for the benefit of the public the conservation, protection and improvement of the physical and natural environment, biodiversity and natural habitats of endangered species.
2.Accounting policies
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Basis of preparation of financial statements
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The Company was incorporated on 27 February 2023, with charitable purposes, and was registered as a charity at Charity Commission on 9 August 2024. At the date of approval of the financial statements the Company is a registered charity, and has operated within its charitable purpose during the period, the financial statements have therefore 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Space for the Wild meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
2.Accounting policies (continued)
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Liabilities and provisions
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Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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Income from donations and legacies
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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Income from fundraising events
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Expenditure on raising funds
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Analysis of expenditure by activities
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Grant funding of activities
2024
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
6.Analysis of expenditure by activities (continued)
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Analysis of support costs
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Independent examiner's Fee
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Grants to Institutions
2024
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Grant to The Essex Pig Company Limited
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The grant is to support the rescue of a Brown Bear, ‘Diego’, from a zoo in Orsa Predator Park in Sweden and to provide him with a new enclosure at Jimmy’s Farm and Wildlife Park in Suffolk, UK.
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Independent examiner's remuneration
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Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts
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Trustees' remuneration and expenses
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During the period, no Trustees received any remuneration or other benefits.
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During the period ended 29 February 2024, no Trustee expenses have been incurred.
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Statement of funds - current period
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Balance at 29 February 2024
£
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Restricted Funds:
The restricted funds were raised in order to support the rescue of a Brown Bear, ‘Diego’, from a zoo in Orsa Predator Park in Sweden and to provide him with a new enclosure at Jimmy’s Farm and Wildlife Park in Suffolk, UK. The funds were raised via a GoFundMe crowdfunding page, a Charity Ball held in October 2023 and fundraising appeals across social media.
Transfer was made from unrestricted to restricted funds to cover the shortfall in restricted funds.
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SPACE FOR THE WILD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
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Related party transactions
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The Essex Pig Company Limited is controlled of M Doherty and a close family relative, and is a related party of the Charity. During the year the Charity committed to a grant of £100,000 to The Essex Pig Company Limited to support their project to rescue a Brown Bear, ‘Diego’, from a zoo in Orsa Predator Park in Sweden and to provide him with a new enclosure at Jimmy’s Farm and Wildlife Park in Suffolk, UK, which is operated by The Essex Pig Company Limited. The grant had not been paid at the year end and is included in creditors.
In addition, included in debtors is £77,450 due from The Essex Pig Company Limited for expenses incurred on behalf of The Essex Pig Company Limited due to timing, in relation to the intended project. These were reimbursed to the Charity on release of the agreed grant.
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