The trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "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 charity's principal objectives are to promote the conservation and study of wildlife including birds, mammals and insects in the natural environment forming their habitat and to promote knowledge of and interest in such wildlife.
The management of the charity's land is designed to sustain and enhance wildlife habitats and biodiversity. In managing areas of ancient woodland, moorland, limestone grassland, hay meadows and wetland, the charity seeks to retain vegetation that is natural in type and displays natural processes. Where land is managed by grazing, the policy is to enhance biodiversity by regulating stock levels and prohibiting the application of herbicides, artificial fertilisers and livestock slurry. Hay meadows are managed to enhance floristic richness and safeguard ground nesting birds and the trustees are receiving assistance from Cumbria Wildlife Trust for hay meadow restoration projects on their Hartley and Haybridge lands. Hedgerows and stone walls are maintained by traditional practices. The charity continues to work with Natural England, the Forestry Commission, tenant farmers and other partner bodies to further our nature conservation aims both on our land and across the wider neighbouring landscapes.
Public benefit statement
In interpreting the objectives and planning the activities of the charity the trustees have given careful consideration to the Charities Commission guidance on public benefit.
The advancement of environmental protection and improvement is recognised as a charitable purpose and is universally regarded as producing a public good. The charity exists to promote the care of wildlife and its habitats and its management of land provides a clear public benefit. The value of several areas of the charity's land has been recognised by their designation as either a Site of Special Scientific Interest or a County Wildlife Site, and through conserving these areas following recognised good practice the charity contributes to national conservation goals and enhances public benefit. The public enjoys access to a considerable part of the charity's land, and benefits from enjoyment of outstanding scenery and rich wildlife. At Haybridge the ongoing development of educational visits, guided wildlife and birdwatching walks and outdoor therapy sessions adds further clear public benefit. Facilities for visits have been improved with the provision of an education shelter and benches and new interpretation signage and leaflets. At Hartley further work is planned to improve the quality of footpaths and produce leaflet guides to the area to encourage more visitors and enhance their knowledge of the flora and fauna around them.
At Hay Bridge work continues under the 10-year Countryside Stewardship agreement, which began on 1st of January 2024.
During the year wood pasture has been created and restored with the construction of deer fenced enclosures and the planting of over 2,000 trees, along with 1,500 plug plants, devils-bit scabious and primroses. Butterfly transects and moth recording are carried out on a regular basis and will be extended to cover the land at Hartley.
Outdoor therapy sessions in conjunction with MIND continue to be held at Hay Bridge and further funding has been obtained to enable the continuity of this valuable work.
The reserves manager has updated the IT systems and now produces regular newsletters for Hay Bridge members. His work in this area has resulted in a considerable increase in the number of members and hence also in subscription income.
At Hartley, a Farming in Protected Landscapes Grant was obtained in the previous financial year for the creation of a footpath in the Hartley Lakes Field and also across the higher land for public access. The footpath is now open and there has been good feedback from the local community.
At Hartley we have continued to work closely with our farming tenants, Mark Jenkinson and Roger Smithson to deliver some of our conservation objectives. On our behalf Mark Jenkinson is delivering a Countryside Stewardship Higher Tier scheme which includes the creation of upland wood pasture and restoration of hay meadows. Roger Smithson has a mid tier Countryside Stewardship agreement focussing on hay meadows and pastureland.
The Foundation owns a number of houses, farm buildings and industrial units at Hartley. These properties are let to provide income and so support the conservation work of the charity. During the year a comprehensive review of both the condition and management of these properties was carried out by independent property agents. As a result of this, repairs have been carried out to bring the properties up to a reasonable standard and where appropriate new tenancy agreements have been put in place.
A five year strategy plan has been agreed and is monitored on a regular basis.
The Trustees have continued to strengthen their policy of strict control over expenditure. Income for the year amounted to £313,332 (2025 - £284,827) and expenditure for the year amounted to £334,089 (2025 - £212,506). The charity generated a net deficit before investment gains of £20,757 (2025 - net surplus before investment loss of £72,321).
Total investment gains of £44,297 (2025 - losses of £127,931) were generated in the year.
As a result the charity's total funds stood at £5,563,050 (2025 - £5,539,510) as at 31 March 2026, including unrestricted funds of £5,485,163 (2025 - £5,480,394) and restricted funds of £77,887 (2025 - £59,116). The restricted funds represent the net book value of capital assets acquired as part of the Natural England Higher Level Stewardship Agreement project and unspent funds for the Hay Bridge Peake's Pond project, and the MIND/Full Cycle project.
The charity's reserves policy has been to maintain unrestricted funds, not committed to tangible fixed assets or investment, equivalent to at least six months expenditure. The basis of this policy being that reserves are needed to meet the cash flow requirements of the charity and the trustees are confident that at this level they would, in the short term, be able to continue the current activities of the charity in the event of a significant drop in funding. A review is currently ongoing to assess whether this policy remains appropriate in light of recent and future expected changes to the charity's income and expenditure.
Investment policy and objectives
During the year the charity’s financial investments were managed by Hugh Beaumont of Mindful Financial Planning. The investment strategy is reviewed each year. The current investment policy statement includes the following objectives:
to generate a distributable return, comprising income and capital withdrawals, of at least 2.6% per annum over rolling five year periods to contribute toward the charity's activities;
to maintain the value of capital in real terms over the medium to long term; and
to maintain an investment strategy in keeping with the aims of a conservation charity, paying due regard to environmental, ethical and social considerations.
The trustees have appointed Hugh Beaumont of Mindful Financial Planning Ltd, a trading style of Lyncombe Consultants Ltd, a firm authorised and regulated by the Financial Conduct Authority, to act as investment advisor to the charity.
The investment advisor provides quarterly portfolio valuations and comments to the trustees. On at least an annual basis the trustees, in conjunction with the investment advisor, will review the portfolio returns risk and asset allocation, compare the investment returns with a suitable benchmark, rebalance the portfolio as required, replace funds where alternate funds are considered to provide better opportunities, realise profits to replenish the cash reserve as appropriate, and review the portfolio costs and charges.
Jim Shaw, the reserve manager, continues his work under the Countryside Stewardship Scheme at Hay Bridge, ably assisted by a team of regular volunteers. He also works with the tenant farmers at Hartley and local volunteers to enhance the existing nature conservation achievements.
The trustees have produced a five year strategy document, which lays out the following strategic priorities:
Hartley land - exploration of grant opportunities particularly around education and interpretation projects, along with the development of nature recovery across the landscape
Hay Bridge Reserve – ongoing management of the 10-year Countryside Stewardship Agreement; working with educational organisations to promote knowledge and interest in wildlife; exploring ways of expanding the reserve
Financial Viability -looking at different income streams and ways of working with other similar charities
Hartley Residential and Commercial Property – review of profitability and longer term strategy
Governance – review of structure and and operation of trustee board
The strategy document is reviewed at trustee board meetings, with specific tasks delegated to the relevant trustee committee, which will then report back on progress.
The charity is a company limited by guarantee and is governed by a memorandum and articles of association.
The charity was incorporated on 18 November 2010 and remained dormant until 31 March 2011 when the net assets of a charitable trust known as The John Strutt Conservation Foundation (charity no. 1073619) were transferred to it.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Additional trustees are appointed by the board of trustees and there is no statutory period of service. The memorandum provides for a minimum of three trustees and there is no limitation placed on the maximum number of trustees.
At the periodic trustees' meetings the trustees agree the broad strategy and areas of activity for the charity including the management of its lands and investment assets. The day-to-day administration of the charity's property portfolio during the year was undertaken by GSC Grays, who also assist with grant appliactions. The charity's investment portfolio is managed by Hugh Beaumont of Mindful Financial Planning Ltd appointed as the charity's investment advisor. The charity's solicitor is Kilvington Solicitors of Kirkby Stephen. The charity's accountants are Xeinadin.
The Trustees operate with two sub groups, ‘Governance and Finance’ and ‘Conservation and Education’ sitting below the Main Trustee Board. This is to ensure the Charity complies with its stated conservation and education objectives and functions/managed in accordance with the Charity Commission and other relevant Regulatory and Advisory bodies.
A review of the operation of Trustee Board is ongoing to identify further skillsets required and ensure effective collaborative working.
The trustees designated Helen Loxam and Peter Welsh as trustees with special responsibility for their estate at Haybridge, Dave Swalwell and Peter Welsh as trustees with special responsibility for the land at Hartley and Winton, and Maggie Hough as Treasurer.
All new trustees are required to read the Charity Commission guidance on the website to ensure they are fully aware of their responsibilities as trustees. All trustees have completed safeguarding training during the year, and will be attending Health and Safety presentations during the coming year.
All trustees give their time freely and no trustee remuneration was paid in the year.
In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of The John Strutt Conservation Foundation for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that 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.
Opinion
We have audited the financial statements of The John Strutt Conservation Foundation (the ‘charity’) for the year ended 31 March 2026 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement principal ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the charitable sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
understanding the design of the company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC, the company’s legal advisors and any other relevant regulator or body.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The John Strutt Conservation Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Low Hay Bridge, Bouth, Ulverston, Cumbria, LA12 8JG.
The accounts have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include investment properties and fixed asset investments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from charitable activities includes rental income net of VAT and government subsidies and is recognised when receivable by the charity. Rental income received in advance at the balance sheet is deferred into the following period.
Investment income, in the form of investment dividends and rental income, is recognised when receivable by the charity.
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities has been included in these cost categories.
Expenditure on raising funds represents those costs associated with generating the investment income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Entitlements are initially recognised as an asset at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Entitlements are considered to have a useful life of 4 years and are amortised on that basis.
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
All assets are capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
The trustees have considered the nature and use of the Foundation's land and buildings. The trustees have always maintained the assets at a high standard for the education and enjoyment of visitors and promotion of the Foundation's aims. In respect of the assets which represent land and other buildings used for the Foundation's educational and conservational aims they consider that depreciation would be inappropriate due to the prospective long life of these assets.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
The fair value of the investment properties has been arrived at on the basis of a valuation carried out as at 31 March 2025 by GSC Grays who are independent to the Charity. The 2025 valuation was made by reference to market evidence of transaction prices for similar properties for residential properties, and applying appropriate market yields to current net rental income for commercial property units. The Trustees consider that there have been no significant changed to the valuation as at 31 March 2026.
Rental income
Government subsidies and other income
Repair, maintenance and conservation costs
Operational costs
Support costs
Irrecoverable VAT
Support costs includes amounts payable to the auditors of £5,375 (2025 - £4,850) for the audit and £10,835 (2025 - £13,603) for the preparation of the annual accounts and other accountancy services.
Also included in support costs is £nil interest payable (2025 - £484) in relation to a bank loan repaid in the previous year.
None of the trustees (or any person connected with them) received any remuneration during the year. Travel expenses, subsistence and other expenditure on behalf of the foundation totalling £409 (2025 - £1,342) has been reimbursed to one trustee in the year (2025 - two trustees) in their capacity as a trustee.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Investment properties are measured at fair value, with changes in fair value being recognised in net income/(expenditure). The fair value of the investment properties has been arrived at on the basis of a valuation carried out as at 31 March 2025 by GSC Grays who are independent to the charity. The 2025 valuation was made by reference to market evidence of transaction prices for similar properties for residential properties, and applying appropriate market yields to current net rental income for commercial property units. The Trustees consider that there have been no significant changes to this valuation as at 31 March 2026.
All investments are carried at their fair value. Investments in equities, fixed interest and other securities are all traded in quoted public markets for which market prices are readily available.
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
The Natural England Higher Level Stewardship Scheme fund relates to the Haybridge Moss and Hulleter Moss project. The remaining balance within this fund represents the net book value of capital assets that were acquired and created as a result of the project.
The Peakes Pond Haybridge fund relates to a legacy that was left for the benefit of Haybridge. This was fully expended during the year.
The Haybridge Nature Reserve fund comprises monies received following the closure of The Haybridge Nature Reserve Society together with subsequent membership fees which are to be spent on conservation of the Haybridge Nature Reserve and for the benefit of the members.
Income was received from Countryside Stewardship for the purpose of purchasing tree cages, deer gates and other customised works.
A donation was received during the year to fund the mink project which was ongoing at the year end.
In the current year several donations were received including from: The Frieda Scott Trust, The Sir John Fisher Foundation, the National Lotter and Rawdon Smith to be spent on the MIND/ Full Circle project at Haybridge.
There were no disclosable related party transactions during the year.