World Land Trust Annual Report 2020

ANNUAL REPORT & FINANCIAL STATEMENTS 31 December 2020

© Dan Bradbury

Registered company no: 02552942

World Land Trust Year ended 31 December 2020

© Natalie Singleton

Contents

Foreword

1

WLT’s year of impact in numbers

3

Report of the Trustees

4

Reference and administration details

24

Independent Auditor’s Report to the members of World Land Trust

26

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30

Summary income and expenditure account

31

Group and charity balance sheets

32

&RQVROLGDWHG VWDWHPHQW RI FDVK ࢊRZV

33

Notes to the accounts

34

List of Council members

57

List of project partners

58

worldlandtrust.org

World Land Trust Year ended 31 December 2020

© James Muchmore

Foreword

Report from our Chair The year 2020 was like no other. As the COVID-19

But those are just the biggest and most eye-

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catching projects. WLT continues to support our

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partners with funding for many smaller land

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purchases, habitat restoration work and a growing

the challenges of home schooling, caring for others

number of rangers on the ground.

and getting their work done. Across the world, in South and Central America, Africa, Asia and Eastern Europe our partners‘ work on the ground was disrupted too. And for a while, understandably, the input of donations was much reduced. +RZHYHU WKH LQLWLDO VKRFN RI WKH SDQGHPLF was swiftly followed by the realisation that our VXSSRUWHUVȆ JHQHURVLW\ IRU QDWXUH ZDV QRW ZDYHULQJ GHVSLWH WKH GLࢇFXOWLHV DQG XQFHUWDLQWLHV LQ DOO RI RXU OLYHV LQ IDFW LW ZDV VWURQJHU WKDQ HYHU /DVW \HDU , reported that WLT had raised £5.6 million in 2019 – the highest total in the charity’s history – and today I am happy to tell you that in 2020 we broke that record by raising £7.1 million, a new all-time record.

Higher income translated into higher impact for WKH YHU\ KDELWDWV WKH ZRUOG FDQQRW DࢆRUG WR ORVH ,Q ZH VHQW e WR VDYH DFUHV RI WDSLU and manatee habitat in Colombia and a further £100,000 to safeguard a forest corridor for Critically Endangered gorillas in Cameroon.

0RVW PRPHQWRXV RI DOO ZDV ODVW \HDUȆV 6DYH the Chocó campaign. Thanks to the staggering

These successes were only made possible by the incredible generosity of WLT supporters. Last year, :/7 ZLWQHVVHG D JURZWK RI UHJXODU JLYLQJ WKURXJK our WLT Friends programme, as well as new major corporate supporters. We thank you all.

7KDQNV WR JOREDO HYHQWV OLNH &23 LQ *ODVJRZ DQG WKH LQGHIDWLJDEOH ZRUN RI 6LU 'DYLG $WWHQERURXJK DQG :/7ȆV RWKHU KLJK SURࢉOH 3DWURQV WKH VSRWOLJKW ZLOO FRQWLQXH WR IDOO RQ WKH ELRGLYHUVLW\ DQG FOLPDWH crises throughout 2021 – and WLT aims to continue WR JURZ DV DQ DJHQW RI SRVLWLYH FKDQJH LQ ZLOGOLIH FRQVHUYDWLRQ 6R P\ ࢉUVW IXOO \HDU DV &KDLU RI 7UXVWHHV KDV EHHQ TXLWH D \HDU IRU WKH RUJDQLVDWLRQ RXU VWDࢆ our donors and other supporters, our partner organisations and for the world. I am pleased to VD\ WKDW , WKLQN WKDW :/7 HQWHUHG HYHQ VWURQJHU WKDQ LW HQWHUHG QRW MXVW LQ ࢉQDQFLDO WHUPV EXW DOVR LQ FODULW\ RI SXUSRVH DQG ZLWK DQ HYHQ JUHDWHU team spirit. Let’s see what 2021 has in store for us!

Dr Mark Avery, Chair

response to our Big Match Fortnight (BMF), the DSSHDO WR VDYH VRPH RI WKH ODVW RI WKHVH IRUHVWV LQ (FXDGRU WRRN RQO\ WZR ZHHNV 2FWREHU 2020) to reach its original £500,000 target – one of the fastest BMF raises in WLT’s history – and went RQ WR UDLVH e LQ WKH IROORZLQJ ZHHNV ZHOO RYHU RQH PLOOLRQ 86 GROODUV WR VDYH DQ HFRV\VWHP IDFLQJ REOLYLRQ

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raising funds so that our partners can keep habitats

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and Communications people who last year ensured

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to a new reality of remote working.

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reinforced by the new organisations in America and

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Africa we welcomed to the WLT fold in 2020. The

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last year piled unimaginable pressure on the men

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and women who protect habitats with support from

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WLT. But they all – especially the tireless rangers on

the direct protection of a Cyprus-sized expanse of

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endangered species were kept safe, and catastrophic

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Because WLT and its partners prioritise strategically SODFHG UHVHUYHV ȁ WKH UDLQIRUHVW FRUULGRUV DQG UHVHUYH EXࢆHU DUHDV ȁ WKH DFUHV GLUHFWO\ VDYHG E\

ࢉUHV ZHUH SUHYHQWHG RU H[WLQJXLVKHG :H DUH SURXG to continue to support such crucial work to protect the nature-based solutions that help address the FOLPDWH DQG ELRGLYHUVLW\ FULVHV ȁ HVSHFLDOO\ DV ZH HQWHU a critical year for summits where global leaders must agree exactly how we will meet these challenges, and HQVXUH WKH IXQGLQJ LV DYDLODEOH WR GR VR

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our partners to connect more than 20,000,000 acres

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the size of Scotland.

to meet many of the incredible people who make

7KHUH LV DOVR D FOHDU QDUUDWLYH FRPLQJ WKURXJK WKDW shows the resilience and commitment of all the people who make our work possible. I think of the donors who enabled us, despite the hardships faced by so many, to reach – and exceed – our appeal targets so swiftly: the marathon runners, the artists, WKH VFKRRO SXSLOV DQG DOO RWKHU FRPPLWWHG LQGLYLGXDOV ZKRȆYH GHYRWHG VRPH RI WKHLU SUHFLRXV WLPH WR World Land Trust 2

Year ended 31 December 2020

this work happen on the ground. The passion and professionalism of these partners, combined with WKH SDVVLRQ DQG JHQHURVLW\ RI RXU VXSSRUWHUV JLYHV me enormous hope that together we will continue to grow WLT’s impact in 2021, and beyond.

Dr Jonathan Barnard, CEO

A year of conservation milestones Impact of WLT’s programmes in 2020

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Report of the Trustees

The Trustees present their annual Trustees’ Report

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2011, the Companies Act 2006, the Memorandum

of the charity and its subsidiaries for the year

and Articles of Association and Accounting and

ended 31 December 2020, which are also prepared

Reporting by Charities: Statement of Recommended

to meet the requirements for a directors’ report

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and accounts for Companies Act purposes. The

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2020) to reach its original £500,000 target, going on

to many threats and pressures, land acquisition

to raise a total of £925,000 from supporters in the

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dollars will allow WLT partner Fundación Jocotoco to

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partners, funding the protection and sustainable

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management of habitats and their wildlife. As

was not included in WLT’s 2020 count as the land

land prices increase, and opportunities arise in

purchase process remains underway.

countries where land purchase is not possible, this DOVR LQFOXGHV ORQJ WHUP OHDVH IRU FRQVHUYDWLRQ WKH FUHDWLRQ RI FRPPXQLW\ UHVHUYHV DQG RWKHU

Major appeals aside, partner land purchases and declarations in 2020 were funded through

mechanisms to ensure long-term protection.

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During 2020, WLT helped to safeguard a total of

and Ecuador), Action Fund (Colombia, Ecuador,

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partner projects in Brazil, Colombia, Ecuador,

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and music band Nightwish (Mexico). Meanwhile,

acres added in 2020 mean that as of the end of last

years of support from Carbon Balanced donors

year, donations since we were founded had helped

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RI UHVHUYHV WKURXJK OHDVHV DQG RWKHU DSSURDFKHV (1,906,670 acres or 771,602 ha). $GGLQJ WR WKH FRXQW ZHUH :/7ȆV ࢊDJVKLS DSSHDOV RI WKH \HDU VXFK DV ȅ6DYLQJ 7KH %DUEDFRDVȆ Forests and Wetlands’, a £295,000 campaign launched in February that allowed WLT partner )XQGDFLµQ %LRGLYHUVD &RORPELD WR SXUFKDVH DQG SURWHFW DFUHV KD RI WDSLU DQG PDQDWHH habitat in Colombia. WLT’s following appeal – ‘A Future for Gorillas’ – reached its £100,000 target later in the year, allowing WLT partner ERuDeF to start a three-year process to create two (12,355 DFUHV RU KD DQG DFUHV RU KD

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The raising of £925,000 by WLT’s Save the Chocó appeal, nearly twice the original target, handed a lifeline to forests home to endangered Jaguar populations. © Jo Dale

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Reserve management

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In 2020, donations from WLT supporters to our

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acres of habitat. 2020’s tree planting means WLT

includes funding for a ranger for a minimum of

had, as of the end of December 2020, funded

three years after acquisition and during 2020, our

throughout its entire history a total of 2,292,361

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and beyond.

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Between January and December 2020, donations to

threatened habitats and the life in them. In Armenia,

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project, while planting continued apace at WLT

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(73,211 saplings planted in 2020), Borneo’s Genting

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inspire local people to care about the natural world

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world’s rarest parrots.

day in the long run. $ERYH Donations to WLT’s Plant a Tree programme allowed to bring last year trees in their tens of thousands to Ecuadorian forests home to El Oro Parakeet.

Left: In Venezuela, Provita’s Keepers of the Wild doubled down on ȴHOG YLVLWV WR HQVXUH endangered parrots remained protected at a time of COVID-19 chaos. k $VRFLDFLµQ &LYLO 3URYLWD

World Land Trust 6

Year ended 31 December 2020

Report of the Trustees

Partnerships and communications During 2020, WLT focused on maintaining a strong

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donations in 2020. Full-year stats, infographics,

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year when many people re-connected with nature.

each programme and WLT partner project, while

Increased communications capacity within WLT PDGH LW SRVVLEOH WR VHW XS QHZ FRQYHUVDWLRQ channels with our network of 32 partners. In a uniquely challenging year for the organisations WLT funds, it became possible to source and report many of the breakthroughs their work produced, such DV WKH H[SDQVLRQ RI FUXFLDO UHVHUYHV WKH GLVFRYHU\ RI QHZ VSHFLHV DQG JHQHUD WKH EHQHࢉWV WKHLU FRQVHUYDWLRQ ZRUN LV EULQJLQJ WR ORFDO FRPPXQLWLHV

a dedicated three-part series cast a light on the milestones and challenges our partners had experienced – a window opened for our supporters LQWR GD\ WR GD\ FRQVHUYDWLRQ ZRUN 6RFLDO PHGLD DFWLYLW\ LQFUHDVHG GXULQJ WKH \HDU ȁ ZLWK WUDࢇF H[SHULHQFLQJ DQ LQLWLDO LPPHGLDWH ULVH RYHU VSULQJ DQG VXPPHU ȁ DQG WKH WHDP DOVR GRXEOHG GRZQ RQ :/7ȆV HࢆHFWLYH QHZVOHWWHU formats. Our print newsletter (WLT News) went out

and more.

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year, WLT’s digital newsletter (eBulletin) went out

of-year materials, where WLT was able to showcase

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Held just before the pandemic took hold worldwide, WLT Partners’ Symposium in Guatemala offered a chance to meet and celebrate the conservationists WLT supports around the globe.

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Report of the Trustees

Support from individuals, corporates, trusts and foundations :/7ȆV FRQVHUYDWLRQ LPSDFW LV RQO\ SRVVLEOH EHFDXVH

programme allowed to purchase and protect 2,597

of our supporters, and in 2020 their commitment

acres of critically threatened Dry Chaco habitat – the

went beyond anything the Trust had seen before.

Chaco Taguá Biological Corridor in Argentina – and

,QFUHGLEOH VXSSRUW IURP LQGLYLGXDO GRQRUV ZDV D major part of WLT’s raising of a record £7.1 million in income in 2020. Between January and December last

enabled our partners to safeguard part of the last RI %UD]LOȆV $WODQWLF )RUHVWV KRPH WR WKRXVDQGV RI species.

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Through their support to our Action Fund, WLT

of whom were new donors), and the number of

corporate supporters funded last year urgent land

regular supporters through the WLT Friend scheme

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experienced its highest annual increase in the Trust’s

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history. The year also left monthly milestones:

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donations recorded in December 2020 topped those

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in any other month since WLT’s foundation.

trees to restore degraded habitat in Malaysian

WLT is also incredibly grateful to all the charitable WUXVWV IRXQGDWLRQV DQG FRPSDQLHV WKDW KDYH FKRVHQ WR NHHS WKH FRQVHUYDWLRQ RI RXU SODQHW KLJK RQ their agendas. Last year, and despite the multiple challenges faced by businesses on account of the pandemic, support to WLT from all these sources continued to increase.

Grants from charitable trusts and foundations SURYHG LQVWUXPHQWDO IRU RXU DSSHDOV WKH\ allowed us to secure the match funding required E\ WKH ȅ6DYH WKH &KRFµȆ FDPSDLJQ DV ZHOO DV FRQWULEXWLQJ WRZDUGV WKH ȅ6DYLQJ WKH %DUEDFRDVȆ Forests and Wetlands’ campaign and supplying more than half of the funds required by the ‘Future for Gorillas’ campaign. Foundations’ support extended to WLT’s programmes, with major contributions PDGH WRZDUGV RXU .HHSHUV RI WKH :LOG VFKHPH Businesses were also generous last year in their support of WLT’s urgent appeals, but largely – and most importantly – their contributions continued to be dedicated to our core programmes. In 2020, corporate support to our landmark Buy an Acre World Land Trust 8

Year ended 31 December 2020

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Report of the Trustees

Plans for future periods In 2019 we reported that the charity continued

management. We made good progress on

working on its 5-year strategic plan to 2020 where

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we were seeking to secure an additional one

stakeholders during 2020 but due to the COVID-19

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impacts that needed management and meant that

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the new strategic plan was delayed until 2021. The

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new strategic plan will not fundamentally alter our

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formally in place we will continue to work tirelessly

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and protect more threatened habitats.

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the size of the organisation and our funding. The

retention. Whilst this has not reached our target

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of 5,000 by the end of 2020, we are seeing

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strong engagement and commitment from

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those supporters and in 2021 we will continue

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loyal support from our growing cadre of regular JLYHUV :/7 KDG WR IDFH ERWK D FKDQJH LQ &(2 DQG WKH FRURQDYLUXV SDQGHPLF GXULQJ WKLV VWUDWHJ\ period, so it is notable as a considerable success that the organisation has emerged from both major changes in a strong and robust position, ZLWK D FDSDEOH DQG PRWLYDWHG ZRUNIRUFH DQG ZLWK JURZLQJ UREXVWQHVV DQG DJLOLW\ LQ LWV JRYHUQDQFH and operational systems. WLT is in a strong position to enter the next strategy period.

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area of support further.

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worldlandtrust.org

9

Report of the Trustees

Plans for future periods (continued)

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the entire workforce to remote working due to

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World Land Trust 10

Year ended 31 December 2020

Report of the Trustees

Our purposes and activities Our principal purposes, as set out in our Articles of

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Association are:

work by:

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World Land Trust (WLT) was established on a simple

(both the Alliance as an entity and its members) by always working through local

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remains true and through the Trust adopting an

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approach that takes in an entire landscape, rather

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WLT’s charitable purposes fall within the charitable GHVFULSWLRQ RI WKH DGYDQFHPHQW RI WKH HQYLURQPHQW RU LPSURYHPHQW 7KH EHQHࢉWV IURP :/7ȆV ZRUN FRYHU WKH IROORZLQJ DUHDV ZKLFK DUH FRQVLVWHQW ZLWK WLT’s purposes, aims and strategies:

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within this report, which enables WLT to look to

awareness.

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worldlandtrust.org

11

Report of the Trustees

Financial review 7KH FRQVROLGDWHG ࢉQDQFLDO SRVLWLRQ RI :/7 DQG

projects and appeals during the year. Our engaged

its subsidiaries are shown in the Statement of

and committed group of Friends continued to grow

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global COVID-19 pandemic in 2020, the charity,

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which is wholly reliant on raising funds from

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area of support.

KDYH SUHGLFWHG WKDW WKLV ZRXOG UHVXOW LQ WKH EHVW fundraising year in its history. Total income for the year is reported at £7,122,000 (2019: £5,696,000), a LQFUHDVH DJDLQVW 7KH FKDULW\ VDZ JURZWK across all income streams in a time where we faced considerable uncertainty. As reported under the risk management section of this report the charity faced additional challenges due to COVID-19 but the incredible support from our donors, both existing DQG QHZ KDV HQDEOHG WKH FKDULW\ WR QDYLJDWH WKLV GLࢇFXOW WLPH DQG ࢉQLVK WKH \HDU LQ D SRVLWLRQ RI VWUHQJWK WR GULYH WKH LPSDFW RI RXU Zork going

Despite the challenges presented by COVID-19 total expenditure for WLT was £6,317,000 (2019: e ZLWK EHLQJ VSHQW RQ FKDULWDEOH DFWLYLWLHV :LWKLQ FKDULWDEOH H[SHQGLWXUH ZDV RQ ODQG DFTXLVLWLRQ RQ UHVHUYH PDQDJHPHQW RQ UHIRUHVWDWLRQ DQG RQ partnerships and communications. During 2020 WKH 7UXVWHHV UHYLHZHG WKH DFFRXQWLQJ WUHDWPHQW for grant recognition, subsequently the charity has made the decision to change its accounting policy WR EHWWHU UHࢊHFW WKH VXEVWDQFH ZKHQ :/7 KDV PDGH

forward.

a commitment to a partner. Consequently, the

We recognise that legacy income remained

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D VLJQLࢉFDQW proportion of income in 2020 at e e $W WKH \HDU HQG e RI OHJDF\ LQFRPH ZDV LQFOXGHG DFFUXHG LQ GHEWRUV e :H DUH KXJHO\ JUDWHIXO that donors choose to remember us in this way, and

charity has made a prior year adjustment to more RYHUVHDV SDUWQHUV 7KLV PHDQV WKDW LQ VRPH FDVHV expenditure is now recognised earlier than under WKH SUHYLRXV DFFRXQWLQJ SROLF\ 7KLV LV GHWDLOHG IXUWKHU LQ QRWH WR WKH DFFRXQWV

look to ensure that they are allocated to projects

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which maximise that impact of their bequest. We

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continue to be mindful that legacies are made up of

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support costs for the organisation represented just

from year to year so plan prudently and manage

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WLT’s wholly owned trading subsidiary, World Land

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Trust Trading Ltd (WLTT), continued to trade and

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made a surplus in 2020. The majority of the work

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from our Action Fund, but also supported other key

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World Land Trust 12

Year ended 31 December 2020

Report of the Trustees Reserves policy WLT continues to apply a risk-based approach to its

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and infrastructure systems for the charity to be able

and monitored by the Administration and Finance

WR FRQWLQXH WR RSHUDWH HࢇFLHQWO\ DQG HࢆHFWLYHO\ WR

Committee and Trustees quarterly. Considering the

maximise the impact of our work.

COVID-19 pandemic additional monitoring took place between the Chair of Trustees, Honorary Treasurer, CEO and COO fortnightly for much of 2020 with additional reporting on an ongoing basis WR WKH 7UXVWHHV 7KH 7UXVWHHV IRUPDOO\ UHYLHZHG the policy in December 2020 and considered it appropriate for the charity to continue to hold within 10 to 16 weeks of operating expenditure as IUHH UHVHUYHV 6LQFH &29,' KDV RFFXUUHG GHVSLWH WKH LQFUHGLEOH VXSSRUW WKH FKDULW\ KDV UHFHLYHG LQ 2020, the Trustees are mindful that the longerterm economic impact and what that might mean RQ LQFRPH OHYHOV KDV QRW \HW IXOO\ PDWHULDOLVHG DQG FRQWLQXH WR PDLQWDLQ FOHDU RYHUVLJKW RI WKH ࢉQDQFLDO position of the charity. :KHUH UHVHUYHV DUH KHOG RYHU DQG DERYH WKH SROLF\ OHYHO 7UXVWHHV UHYLHZ DQG FRQVLGHU DSSURSULDWH action, if any, for those funds. At the end of 2020, WKH 7UXVWHHV DSSURYHG D WUDQVIHU RI e . IURP General Fund to Action Fund to support ongoing XUJHQW FRQVHUYDWLRQ SURMHFWV DQG e . WR WKH 6WUDWHJLF 'HYHORSPHQW )XQG WR HQDEOH WKH FKDULW\ WR

+ROGLQJ D OHYHO RI XQUHVWULFWHG UHVHUYHV HQDEOHV the charity to quickly respond to additional SURMHFW IXQGLQJ UHTXHVWV PDQDJH DGYHUVH IRUHLJQ exchange exposure and ensure the continuity of the RUJDQLVDWLRQ LI LQFRPH LV DGYHUVHO\ DࢆHFWHG LQ WKH short term.

It is the policy of the Trustees to retain General )XQG UHVHUYHV FDVK EDODQFHV UHDGLO\ UHDOLVDEOH LQYHVWPHQWV FXUUHQW DVVHWV OHVV FXUUHQW OLDELOLWLHV

HTXLYDOHQW WR EHWZHHQ WR ZHHNV RSHUDWLQJ H[SHQGLWXUH $W FXUUHQW OHYHOV WKH WDUJHW UHVHUYH ZLOO EH EHWZHHQ e DQG e $W WKH %DODQFH 6KHHW GDWH :/7ȆV IUHH UHVHUYHV ZHUH e e

7KH 7UXVWHHV DUH VDWLVࢉHG WKDW WKH OHYHO RYHU DQG DERYH WKH UHVHUYHV WDUJHW UDQJH LV FXUUHQWO\ appropriate due to the uncertainty and impact of the COVID-19 pandemic and its longer-term impact on the ability for WLT to raise funds and potential ODUJHU ࢊXFWXDWLRQV LQ H[FKDQJH UDWHV GXH WR WKH impact of the pandemic on the global economy.

Designated funds Total designated funds held at the year-end were £3,610,000 (2019: £3,065,000). Designated funds comprise of the following funds set aside by Trustees for the charity.

Designated Fund Action Fund

Balance at 31 December 2020 000

Balance at 31 December 2019 000

731

359

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13

Report of the Trustees Restricted funds Total restricted funds held at the year end were e e 7KHVH DUH GRQDWLRQV IRU UHFHLYHG IRU VSHFLࢉF FRQVHUYDWLRQ SURMHFWV LQFOXGLQJ

•

work with our other partners such as Ecominga,

RI WKH :LOG DQG 3ODQW D 7UHH )XOO GHWDLOV RI WKHVH UHSRUWHG XQGHU WKH )LQDQFLDO 5HYLHZ WKH 7UXVWHHV UHYLHZHG WKH JUDQW DFFRXQWLQJ SROLF\ LQ DQG subsequently a prior year adjustment (as reported

securing priority land purchase at Manduriacu,

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to our partners. The prior year adjustment relates VSHFLࢉFDOO\ WR UHVWULFWHG IXQGV

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ZRUN RU SURMHFWV ZKHUH ZH KDYH UHFRJQLVHG D future commitment to our partners. All of these SURJUDPPHV RU SURMHFWV KDYH VRXUFHV RI IXQGLQJ LGHQWLࢉHG ZKLFK ZLOO EH UDLVHG GXULQJ WR UHYHUVH WKH GHࢉFLWV Other major funding highlights, in addition to those

programme at Nangaritza.

In India we continued our strategic work with WTI on supporting the D’Ering Dibru Elephant project. :LWK RXU SDUWQHU 1DWXUH .HQ\D ZH FRQWLQXHG

RXU UHIRUHVWDWLRQ SURMHFW DW 0RXQW .HQ\D DQG

$EHUGHUHV )RUHVW UHVHUYHV LQ DGGLWLRQ WR IXUWKHU and purchase to extend the Dakatcha woodland

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DQG ZLWK 1&( LQ GHYHORSLQJ RXU FDUERQ EDODQFHG

corridor as well as the Sarus Crane Wetlands

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DSSHDO ȅ6DYH WKH &KRFµȆ ZLWK RXU SDUWQHU Fundación Jocotoco, we continued to

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In Ecuador, in addition to our main autumn

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area secured in 2019.

In 2020 we commenced work with Tanzania

)RUHVW &RQVHUYDWLRQ *URXS LQ 7DQ]DQLD RQ WKH

FRDVWDO IRUHVW SURMHFW IRU ZKLFK ZH KDYH UXQ D spring appeal in 2021 to support this critical

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Endowment fund

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At the end of 2020 WLT, in conjunction with a FRQVRUWLXP RI RWKHU FRQVHUYDWLRQ RUJDQLVDWLRQV committed $1 million to help secure the protection of 236,000 acres (95,500 ha) of

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rainforest in Belize.

2XU .HHSHUV RI WKH :LOG SURJUDPPH IXQGHG UDQJHUV LQ WKLUWHHQ FRXQWULHV D YLWDO UHVRXUFH in protecting the areas of land brought under

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FRQVHUYDWLRQ E\ :/7 $ORQJVLGH RXU ȅ6DYLQJ 7KH %DUEDFRDVȆ )RUHVWV DQG :HWODQGVȆ IRU )XQGDFLµQ %LRGLYHUVD &RORPELD ZH also supported the land purchase for the

H[SDQVLRQ RI WKH *XDQDFDV UHVHUYH WR consolidate the feline corridor in Tropical Mountain Cloud Forest.

World Land Trust 14

Year ended 31 December 2020

)XQG HQGRZPHQW VHW XS RQ EHKDOI RI &RQVHUYDWLRQ ,QWHUQDWLRQDO WR VXSSRUW WKH 6DQ 5DIDHO UHVHUYH LQ 3DUDJXD\ 7KH WDUJHW LV WR DFKLHYH D WRWDO return on the fund to enable ongoing security and protection. :/7 RZQV D UHVHUYH DW .LWHV +LOO *ORXFHVWHUVKLUH ,Q WKLV ZDV UHFODVVLࢉHG DV DQ HQGRZPHQW WR UHࢊHFW WKH LQWHQWLRQ WKDW WKH ODQG VKRXOG EH KHOG LQ perpetuity.

Report of the Trustees Risk management WLT has a risk management strategy in place which

The risk register is a standing item on the agenda at

comprises:

each Administration & Finance Committee meeting

•

$Q DQQXDO UHYLHZ RI WKH SULQFLSDO ULVNV WKDW :/7

and reported quarterly at Trustee meetings. Risks

•

4XDUWHUO\ UHYLHZ RI KLJK OHYHO ULVNV DW WKH

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DQG LWV VXEVLGLDU\ IDFH E\ WKH ERDUG RI 7UXVWHHV Administration and Finance Committee and 7UXVWHH PHHWLQJV Establishment of policies, systems and

are considered in four key areas: operational, JRYHUQDQFH DQG PDQDJHPHQW ࢉQDQFLDO H[WHUQDO $OO LGHQWLࢉHG ULVNV DUH DVVHVVHG IRU ERWK OLNHOLKRRG RI RFFXUUHQFH DQG SRWHQWLDO ࢉQDQFLDO DQG UHSXWDWLRQDO LPSDFW WR JLYH D JURVV ULVN 0LWLJDWLQJ FRQWUROV DUH WKHQ FRQVLGHUHG JLYLQJ D QHW UHPDLQLQJ ULVN

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ZKHUH SRVVLEOH

The risk-management strategy forms part of the

Implementation of procedures designed to

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minimise or manage any potential impact on WLT should the risk materialise.

SURJUHVV IRUPDOO\ HYHU\ \HDU 'XULQJ &29,' has brought a new set of risks for all of our VXSSRUWHUV VWDࢆ SDUWQHUV DQG SHRSOH DVVRFLDWHG ZLWK :/7 7KHVH ULVNV LQFOXGH

Risk

Mitigations in place

COVID-19 impact on WLT

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ࢉQDQFLDO VXVWDLQDELOLW\

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• • • • • +HDOWK DQG VDIHW\ RI VWDࢆ and human resources management

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Reforecast 2020 plans and scenario planning for further reductions in donation income with mitigating plans as to how we can reduce expenditure. $SSURYHG EXGJHW IRU LQFOXGHV VFHQDULR SODQQLQJ WR PLWLJDWH UHGXFWLRQV LQ GRQDWLRQ LQFRPH DQG WKH LPSDFW RQ IXWXUH H[SHQGLWXUH Fortnightly meetings with Chair of Trustees, Honorary Treasurer, CEO and COO to monitor organisational health and key indicators through an organisational RAG report.

5HYLHZ RI FRQVHUYDWLRQ SURJUDPPHV DQG IRUZDUG FRPPLWPHQWV :HHNO\ PRQLWRULQJ RI GRQDWLRQ LQFRPH DQG WUHQGV E\ ([HFXWLYH WHDP 2QJRLQJ FDVKࢊRZ PRQLWRULQJ DQG VHQVLWLYLW\ DQDO\VLV Clear and transparent communication with donors to inform them of how their donations are making a continued impact. $OO VWDࢆ PRYHG WR UHPRWH ZRUNLQJ GXULQJ QDWLRQDO ORFNGRZQV ZLWK OLPLWHG QXPEHUV RI VWDࢆ UHWXUQLQJ WR WKH RࢇFH WR ZRUN LQ OLQH ZLWK JRYHUQPHQW JXLGDQFH DQG RQJRLQJ FRQVXOWDWLRQ ZLWK VWDࢆ )OH[LEOH ZRUNLQJ DUUDQJHPHQWV IRU VWDࢆ ZLWK D IRFXV RQ RXWSXWV UDWKHU WR DOORZ LQGLYLGXDOV WR PDQDJH WKH FRPSHWLQJ GHPDQGV RI GHSHQGHQWV and home schooling and looking after other dependents. &RQVXOWDWLRQ ZLWK VWDࢆ RQ WKH IXWXUH RI ZRUN DQG K\EULG ZRUNLQJ WR HQDEOH WKH RUJDQLVDWLRQ DQG VWDࢆ WR PD[LPLVH SURGXFWLYLW\ 7KH implementation of a trial on hybrid working is anticipated from July 2021.

1R LQWHUQDWLRQDO WUDYHO XQWLO IXUWKHU QRWLFH DQG WUDYHO ZLWKLQ WKH 8. RQO\ RQ DQ DSSURYHG EDVLV E\ WKH &(2 )DFLOLWDWLRQ RI VRFLDO RSSRUWXQLWLHV WR HQVXUH ZLGHU VWDࢆ ZHOOEHLQJ DQG keeping in touch. worldlandtrust.org

15

Report of the Trustees Risk

Mitigations in place

COVID-19 impact on our international NGO partners

•

sustainability

•

• •

7KH &29,' SDQGHPLF KDV QRW RQO\ DࢆHFWHG :/7 EXW DOVR RXU international NGO partners. Our programmes team work closely with all our partners to assess the impact on their organisations. During 2020 we saw some projects delayed due to COVID-19 on our partners SURMHFWV :H KDYH PDLQWDLQHG FORVH OLDLVRQ DQG PRQLWRULQJ WR HQVXUH that our partners are able to maintain critical operational functions as well as ensuring their own wellbeing and safety. :H DUH UHYLHZLQJ RQ D ULVN EDVLV SDUWQHUV DW KLJKHU ULVN GXH WR EHLQJ ZKROO\ RU PDLQO\ UHOLDQW RQ :/7 DV WKHLU VROH IXQGHU LQGLYLGXDO FRXQWU\ HFRQRPLF DQG SROLWLFDO ULVNV DQG LQࢊDWLRQ ULVNV :H KDYH GHYHORSHG DQ DQQXDO VXVWDLQDELOLW\ DVVHVVPHQW FKHFNOLVW WR use to help aid our understanding of our partners sustainability and will use this to be better placed to understand our partners risks and the potential impact on our work.

Liaising with the partners on our joint programmes and the impact on timing of work due to COVID-19.

Our committed and highly skilled team continue to manage those risks and maximise the support to our RYHUVHDV SDUWQHUV ZKHUH IXQGLQJ LV EHFRPLQJ PRUH FULWLFDO 2XU RWKHU SULQFLSDO ULVNV DUH LGHQWLࢉHG DV Risk

Mitigations in place

Financial sustainability:

•

•

Ensuring our long-term ࢉQDQFLDO VWDELOLW\ LV FULWLFDO LI ZH DUH WR GHOLYHU RXU VWUDWHJLF REMHFWLYHV :/7 is wholly funded through public, corporate and trust and foundation support.

We aim to maximise the disbursements of funds to our local NGO partners on the ground and operate on D FRVW HࢇFLHQW RYHUKHDG base. Our main internal cost is a committed and KLJKO\ VNLOOHG VWDࢆ WHDP If our income were to UHGXFH VLJQLࢉFDQWO\ ZH ZRXOG QRW EH DEOH WR IXOࢉO our operating plans which would reduce the scale of

• • •

• • •

•

our impact.

World Land Trust 16

Year ended 31 December 2020

7KH &29,' SDQGHPLF KDV QRW RQO\ DࢆHFWHG :/7 EXW DOVR RXU international NGO partners $GPLQLVWUDWLRQ DQG )LQDQFH &RPPLWWHH RI WKH %RDUG WR UHYLHZ GHWDLOHG plans making recommendations to the Board of Trustees.

0DLQWDLQ D ULVN EDVHG UHVHUYHV SROLF\ 2SHUDWLRQDO PDQDJHPHQW RI FXUUHQF\ DQG LQࢊDWLRQ ULVN WR PLQLPLVH RXU H[SRVXUH DQG PD[LPLVH WKH IXQGLQJ DYDLODEOH IRU RXU SDUWQHUV )XQGUDLVLQJ SODQV WR FRQWLQXH WR GHYHORS DQG HYROYH D GLYHUVH LQFRPH base for the organisation.

'HYHORSPHQW RI NH\ WDUJHWV DQG LQGLFDWRUV WR PRQLWRU WKH KHDOWK RI WKH organisation.

'XULQJ WKH FRURQDYLUXV SDQGHPLF JRYHUQPHQW HQIRUFHG ORFNGRZQV fortnightly meetings were held with the Chair of Trustees, Honorary 7UHDVXUHU &(2 DQG &22 WR PRQLWRU NH\ ࢉQDQFLDO LQGLFDWRUV 7KH frequency of these meetings has decreased due to the ongoing strong ࢉQDQFLDO SHUIRUPDQFH RI WKH FKDULW\ EXW ZRXOG EH UHLQVWDWHG VKRXOG WKHUH EH DQ DGYHUVH LPSDFW RQ RXU DELOLW\ WR UDLVH IXQGV 3URYLGH FOHDU DQG WUDQVSDUHQW FRPPXQLFDWLRQ WR RXU VXSSRUWHUV DQG partners on the funding we need to raise and how it can be disbursed.

Report of the Trustees Risk Human resources:

•

+LJKO\ VNLOOHG PRWLYDWHG and coPPLWWHG VWDࢆ WHDP LV FUXFLDO IRU GHOLYHULQJ our work successfully. We RSHUDWH ZLWK D VPDOO VWDࢆ team which could lead to key person dependency in certain roles.

Mitigations in place

• •

•

• •

•

Equal opportunity recruitment process. ,QYROYHPHQW RI VWDࢆ LQ GHYHORSLQJ RXU VWUDWHJ\ ZLWK SDUWLFXODU IRFXV RQ YDOXHV FXOWXUH DQG NH\ SHUIRUPDQFH LQGLFDWRUV Annual performance appraisal and opportunities for professional GHYHORSPHQW RI VWDࢆ 3URPRWLRQ DQG LPSOHPHQWDWLRQ RI D FRPSUHKHQVLYH HPSOR\HH wellbeing programme.

2QJRLQJ GHYHORSPHQW RI D VXLWH RI EHQHࢉWV WR VXSSRUW DQG UHZDUG RXU VWDࢆ (QVXULQJ RWKHU VWDࢆ ZLWKLQ WHDPV XQGHUVWDQG DQG DUH DEOH WR undertake aspects of others roles if they are away, incapacitated or not DYDLODEOH WR HQVXUH NH\ SURFHVVHV FRQWLQXH

Working with our international NGO partners:

•

We work through local, independent NGO partners WR GHOLYHU RXU FRQVHUYDWLRQ impact in the countries where they operate. Our SDUWQHUVKLSV DUH YLWDO IRU our success and place KHDY\ UHOLDQFH RQ WKH knowledge and expertise of our partners. Many of our partners face similar and more challenging risks than WLT including sustainability, political and economic instability and lack of accountability.

•

•

• • •

Through due diligence undertaken to identify suitable partners led by WKH &(2 DQG 'LUHFWRU RI &RQVHUYDWLRQ $OO SDUWQHUV DUH YHWWHG E\ WKH &RQVHUYDWLRQ $GYLVRU\ 3DQHO DQG DSSURYHG E\ WKH %RDUG RI 7UXVWHHV SULRU WR DQ\ IRUPDO SDUWQHUVKLS being established.

5HJXODU PRQLWRULQJ DQG YLVLWV XQGHUWDNHQ (YHU\ SDUWQHU KDV D VHQLRU PHPEHU RI WKH 3URJUDPPHV 7HDP DVVLJQHG as their key relationship manager.

Ongoing partnerships with NGO partners building long-term relationships based on mutual trust and respect

worldlandtrust.org

17

Report of the Trustees Risk

Mitigations in place

Reputational damage:

•

There is an inherent risk of the charity’s reputation being damaged or DGYHUVHO\ DࢆHFWLQJ LWV 3DWURQV 7UXVWHHV VWDࢆ partners and supporters through all of the other risks with the impact that this could damage trust in the organisation and funding and impact our relationships with our SDUWQHUV RYHUVHDV

• • • • • •

Regular monitoring of risk by Board of Trustees and Administration and Finance Committee. &KDLU RI 7UXVWHHV DQG &(2 KDYH UHJXODU PHHWLQJV WR GLVFXVV RQJRLQJ progress.

Through due diligence of partners and ongoing monitoring.

Compliance with all external regulatory bodies. &OHDU RSHUDWLRQDO SODQV DQG VXSSRUWLQJ SODQV WR GHOLYHU WKH RXWSXWV Clear and transparent communication to supporters and NGO partners.

&RQࢊLFWV RI ,QWHUHVW

•

&RQࢊLFWV ZLWK ORFDO communities and indigenous groups with tradition claims to land we are looking to secure

• • • •

World Land Trust 18

Year ended 31 December 2020

Experienced local NGO partners who work in partnership with these communities.

Through due diligence and information collation prior to undertaking programmes of work.

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Report of the Trustees ,QYHVWPHQW SROLF\ :/7 UHYLHZV LWV SROLF\ IRU DQ\ LQYHVWPHQW RI IXQGV

LV FRQVLGHUHG LQ FRQMXQFWLRQ ZLWK FRVW RࢊLYLQJ

held when it becomes appropriate, and at least

increases and the ability for the Trust to be able to

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FRQWLQXH WR PDLQWDLQ DQG SD\ DOO VDODULHV HYHQ LI WKH

PD[LPLVH WKH YDOXH RI LWV IXQGV ZKLOVW LQFXUULQJ

organisation’s income reduced. WLT is committed to

PLQLPDO ULVN LQ LQYHVWPHQWV WKDW DUH HWKLFDOO\

SD\LQJ WKH /LYLQJ :DJH DV VHW E\ WKH /LYLQJ :DJH

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in equities and bonds. Remaining funds are held RQ FDVK GHSRVLW DW WKH EHVW LQWHUHVW UDWH DYDLODEOH RQ QRWLFH SHULRGV WKDW KDYH GXH UHJDUG WR WKH timescales and currency requirements of WLT’s SURMHFWV ZLWK D ࢉQDQFLDO LQVWLWXWLRQ DSSURYHG E\ Trustees. Where funds are managed by an external LQYHVWPHQW PDQDJHU D WDUJHW EHQFKPDUN LV VHW DQG SHUIRUPDQFH DJDLQVW WKH EHQFKPDUN LV UHYLHZHG RQ a regular basis.

Environmental policy and management $OO RXU DFWLYLWLHV DUH GHVLJQHG WR DGGUHVV WKUHDWV WR the world’s most threatened habitats and species DQG WR KDYH D SRVLWLYH LPSDFW RQ ELRGLYHUVLW\ :H DUH FRPPLWWHG WR PLQLPLVLQJ WKH QHJDWLYH LPSDFWV RI RXU RZQ RSHUDWLRQV RQ WKH HQYLURQPHQW :H KDYH DQ LQWHUQDO *UHHQ 7HDP VWDࢆ YROXQWHHULQJ IURP across the organisation, that continues to work on

Remuneration policy

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:/7 EHOLHYHV LQ UHZDUGLQJ VWDࢆ IDLUO\ IRU WKH

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created real opportunities for change, and at an WR ZRUN WR HQVXUH WKDW ZH PLQLPLVH DQ\ QHJDWLYH impacts that arise from our operations.

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of Work” and see that there is a continued appetite

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for remote working. We are embracing this change

which was introduced at the start of 2021 externally

and will continue to seek to utilise technology to

benchmarking all roles within the organisation

reduce our carbon footprint.

against externally purchased market data and tailored to WLT’s type of organisation, size and location. This framework will enable WLT to ensure it LV WUDQVSDUHQW DQG IDLU DV ZHOO DV FRPSHWLWLYH ZLWKLQ

:H DUH WDNLQJ WKH RSSRUWXQLW\ WR YROXQWDULO\ GLVFORVH our energy and carbon impact and the results RI WKLV DUH VKRZQ EHORZ 'XULQJ ZH KDYH

the sector it operates in the future.

lower emissions due to the COVID-19 pandemic

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internationally and this has continued into 2021 as

a number who work part time (25 full time

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is committed to a year-on-year per capita reduction

by the Administration and Finance Committee.

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The Administration and Finance Committee are

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responsible for setting and recommending CEO

strategy and targets towards net zero.

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VDODU\ WR WKH ERDUG RI 7UXVWHHV 7KH SD\ RI VWDࢆ

worldlandtrust.org

19

Report of the Trustees WLT Energy and Carbon Report WLT Emissions Summary

2020

2019

Emissions (tC02e)

Emissions (tC02e)

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kWh

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2

includes home working

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Emissions/FTE

2.0330

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(QHUJ\ HࢇFLHQF\ DFWLRQV GXULQJ during

Methodologies used in calculation of emissions:

2020 the charity was responding to the ongoing

WLT follows DEFRA guidance on emissions reporting

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and broadly follows the Greenhouse Gas (GHG)

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charity establishes what the future of work will look

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like for our operations, and how we can implement

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PHDVXUHV WR LQFUHDVH RXU HQHUJ\ HࢇFLHQF\

footprint.

World Land Trust 20

Year ended 31 December 2020

Report of the Trustees Our approach to fundraising WLT is a registered charity and works within the SDUDPHWHUV VHW E\ &RGH RI )XQGUDLVLQJ 3UDFWLFH DQG the Charity Commission. WLT is registered with the )XQGUDLVLQJ 5HJXODWRU :H KDYH LQ WKH SDVW DQG ZLOO continue in the future to be respectful of our donors and supporters wishes and all our fundraising DFWLYLWLHV DGKHUH WR RXU SULYDF\ SROLF\ ZKLFK FDQ EH

As a fundraising organisation we ensure that:

•

PHWKRGV WKDW WKH\ KDYH DJUHHG WR LQ OLQH ZLWK WKH :/7 SULYDF\ SROLF\

•

found on our website (https://www.worldlandtrust.

RUJ SULYDF\ SROLF\ VWDWHPHQW :/7 HQVXUHV WKDW LW JLYHV LWV VXSSRUWHUV DQ RSSRUWXQLW\ WR XSGDWH WKHLU

of fundraising. We use a combination of digital and traditional methods of fundraising.

The digital newsletter continues to be our main and most consistent means of contact with our supporters. The digital newsletter goes out monthly WR VXSSRUWHUV ZKR KDYH UHTXHVWHG WKH\ UHFHLYH WKH PDLOLQJ DQG KDYH WKH RSWLRQV WR XQVXEVFULEH DV DQG when they wish.

Alongside our digital newsletter we continue to produce a printed newsletter (WLT News). As with

If a supporter requests to change their contact information, their wishes will be updated in timing fashion without question.

•

SUHIHUHQFHV HYHU\ WLPH ZH FRPPXQLFDWH ZLWK WKHP $V ZLWK RWKHU RUJDQLVDWLRQV ZH KDYH YDULHG PHWKRGV

We will only contact our supporters by the

WLT does not fundraise through cold calling, door to door, nor approaching people in the street to ask for subscriptions or donations.

•

:H ZLOO QHYHU EX\ RU VHOO DQ\RQHȆV FRQWDFW

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:H HQVXUH WKDW QR RQH HYHU IHHOV SUHVVXUHG WR

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information. support WLT. :H DLP WR EH WUDQVSDUHQW LQ RXU DFWLYLWLHV ZLWK LQIRUPDWLRQ UHDGLO\ DYDLODEOH RQ WKH :/7 ZHEVLWH ,I WKH DQVZHUV DUH QRW DYDLODEOH WKH\ FDQ EH UHTXHVWHG YLD WKH FRQWDFW XV VHFWLRQ RQ WKH website https://www.worldlandtrust.org/contact-us/

all digital communications, donors can opt out of UHFHLYLQJ WKLV DW DQ\ SRLQW GXULQJ WKH \HDU Our supporters are key to our success and without them we would not be able to carry out RXU FKDULWDEOH REMHFWLYHV 5HODWLRQVKLSV DUH WKH foundations that WLT is built on so we ensure that ZH WUHDW DOO VXSSRUWHUV ZLWK WKH KLJKHVW OHYHO RI respect. We ensure that all complaints are dealt with by the appropriate person within the organisation and are escalated when appropriate. In 2020 no complaints were made to WLT. The WLT complaints procedure can be found in the following location of WLT’s website https://www.worldlandtrust.org/ world-land-trust-complaints-proceedure/

worldlandtrust.org

21

Report of the Trustees Structure governance and management Governing document

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and procedural policies.

as a company limited by guarantee and was incorporated in England on 29 October 1990. It was

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registered as a charity with the Charity Commission

DQ LQGXFWLRQ GD\ WR PHHW VWDࢆ DQG PRUH IXOO\

RQ 'HFHPEHU 7KH DࢆDLUV RI :/7 DUH

understand the operational workings of WLT.

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7UXVWHHV DUH VXSSOLHG ZLWK UHOHYDQW OLWHUDWXUH

by the board of Trustees who are also the Directors

guidance and articles published by the Charity

of the Charity. The liability of the Members in the

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appropriate.

sum not exceeding £10.

Organisational structure

Recruitment and appointment of Trustees

The board of Trustees meets quarterly and is

The Trustees are nominated for election based on

supported in its duties with an Administration and

their skills, expertise and knowledge that they can

Finance Committee and Nominations Committee.

EULQJ WR JXLGLQJ WKH FKDULW\ WR IXOࢉO LWV FKDULWDEOH

The Administration and Finance Committee are

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GHOHJDWHG WKH UHVSRQVLELOLW\ RI UHYLHZLQJ :/7ȆV

new Trustees. The Trustees are required to retire

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after two terms of three years, following which they

management and organisational issues and

will be eligible for re-election after the expiry of a

recommending to the Trustees. The Nominations

period of at least two years for two further terms of

Committee is responsible for undertaking the

three years.

selection process of new Trustees, Council members and CEO. All decisions or recommendations which

Trustee induction and training

DULVH IURP WKH &RPPLWWHHV DUH UDWLࢉHG E\ WKH %RDUG 5HSUHVHQWDWLYHV IURP WKH ([HFXWLYH VXSSRUW ERWK

1HZ 7UXVWHHV DUH SURYLGHG ZLWK D FRS\ RI

Committees as appropriate.

WLTs Trustee Handbook, which includes key documentation such as Articles of Association,

A full list of Committee members during the year

Charity Commission guidance on duties as a

are detailed below.

Administration & Finance Committee

Nominations Committee

Myles Archibald (Chair & Honorary Treasurer)

Myles Archibald (Chair)

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.HQ %XUQHWW

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World Land Trust 22

Year ended 31 December 2020

Report of the Trustees The board of Trustees is also supported by a

The charity’s wholly owned subsidiary, World Land

Council. The Council members are appointed by

Trust Trading Limited was established to carry out

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7UXVWHHV DQG VWDࢆ RQ FRQVHUYDWLRQ IXQGUDLVLQJ DQG

WKH 7UXVWV (FRV\VWHPV 6HUYLFHV SURJUDPPH VXFK DV

communication matters and any other matters as

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UHTXLUHG E\ :/7 SULPDULO\ GHOLYHUHG WKURXJK WKH

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FRQVHUYDWLRQ DQG GHYHORSPHQW ZRUNLQJ JURXSV

FRQWLQXHV WR XQGHUWDNH DOO WKH FRPPHUFLDO DFWLYLWLHV

The Council comprises the Trustees, Honorary

of WLT such as sales of retail goods.

2ࢇFHUV &RPPLWWHH 0HPEHUV DQG RWKHU DSSRLQWHG LQGLYLGXDOV $GGLWLRQDO DSSRLQWHG LQGLYLGXDOV DUH supporters appointed for their expertise and LQWHUHVW LQ WKH DFWLYLWLHV RI :/7 7KHLU IRUPDO responsibilities are those of members of WLT and DV VXFK DUH UHVSRQVLEOH IRU YRWLQJ RQ DSSRLQWPHQW of Trustees at the Annual General Meeting. A full list of Council members is detailed on page 56 of these accounts. $ &KLHI ([HFXWLYH LV DSSRLQWHG E\ WKH 7UXVWHHV WR manage the day to day operations of the charity.

7R IDFLOLWDWH RSHUDWLRQDO HࢆHFWLYHQHVV WKH &KLHI ([HFXWLYH KDV GHOHJDWHG DXWKRULW\ DSSURYHG E\ WKH 7UXVWHHV IRU RSHUDWLRQDO PDWWHUV LQFOXGLQJ ࢉQDQFH HPSOR\PHQW DQG FRQVHUYDWLRQ UHODWHG DFWLYLWLHV 7KH &KLHI ([HFXWLYH LV VXSSRUWHG E\ NH\ PDQDJHPHQW SHUVRQQHO DV LGHQWLࢉHG RQ SDJH and a wider VHQLRU PDQDJHPHQW WHDP DQG VWDࢆ

Related parties and co-operation with other organisations WLT has a wholly owned related organisation in Australia. WLT Australia Limited was established

:/7 KDV VWURQJ SURMHFW SDUWQHUV ZKR GHOLYHU WKH FRQVHUYDWLRQ ZRUN RQ WKH JURXQG ZRUOGZLGH 2QH of the founding principles of WLT was that local in FRXQWU\ SURMHFW SDUWQHUV GHOLYHUHG WKH FRQVHUYDWLRQ ZRUN 2YHU WKH \HDUV WKLV KDV GHYHORSHG LQWR WKH $OOLDQFH IRU &RQVHUYDWLRQ QHWZRUN $ IXOO OLVW RI project partners is detailed on page 57 of these accounts.

WLT also continues to build and strengthen its UHODWLRQVKLSV ZLWK RWKHU OLNH PLQGHG FRQVHUYDWLRQ organisations. We look to collaborate and increase RXU FRQVHUYDWLRQ LPSDFW WKRXJK WKHVH UHODWLRQVKLSV This may include:

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sharing of knowledge in the international

identifying suitable projects where joint funding

FDQ EH SURYLGHG ZRUNLQJ ZLWK RWKHU

FRQVHUYDWLRQ ZRUOG WKURXJK ZRUNLQJ ZLWK or membership of organisations such as the

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,8&1

RQ -DQXDU\ DQG LV D FRPSDQ\ OLPLWHG E\ guarantee, registered in New South Wales under the Corporations Act 2001, and recognised as a charity (ABN 79603569697, ACN 603 569 697). WLT Australia has a separate board of Directors, with WLT its sole PHPEHU DQG WKHUHIRUH WKH ࢉQDQFLDO UHVXOWV RI :/7 Australia are consolidated.

worldlandtrust.org

23

Report of the Trustees Reference and administration details Charity Number:

1001291

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Patrons 6LU 'DYLG $WWHQERURXJK 20 &+ )56 6WHYH %DFNVKDOO 0%( 'DYLG *RZHU 2%( &KULV 3DFNKDP &%( Honorary President Dr Gerard A Bertrand Directors and Trustees The directors of the charitable company (the charity) are its Trustees for the purposes of charity law. The 7UXVWHHV DQG RࢇFHUV VHUYLQJ GXULQJ WKH \HDU DQG VLQFH WKH \HDU HQG ZHUH Trustees

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Alistair Gammell

Myles Archibald (appointed December 2020)

Anne Harley

Nick Brown

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Rohini Finch

Emma Tozer

Myles Archibald

Honorary Treasurer

Elizabeth Stone

Company Secretary

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Advisors

World Land Trust 24

Year ended 31 December 2020

Report of the Trustees 7UXVWHHVȆ UHVSRQVLELOLWLHV LQ UHODWLRQ WR WKH ࢉQDQFLDO VWDWHPHQWV The Trustees (who are also directors of World

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Land Trust for the purposes of company law) are

the Companies Act 2006. They are also responsible

responsible for preparing the Trustees’ Report

for safeguarding the assets of the charitable

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company and the group and hence for taking

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of fraud and other irregularities.

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and of the incoming resources and application of

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resources, including the income or expenditure,

other jurisdictions.

of the charitable company and the group for that SHULRG ,Q SUHSDULQJ WKHVH ࢉQDQFLDO VWDWHPHQWV WKH Trustees are required to:

•

select suitable accounting policies and then apply

•

REVHUYH WKH PHWKRGV DQG SULQFLSOHV LQ WKH

WKHP FRQVLVWHQWO\ &KDULWLHV 6253 )56

In so far as the Trustees are aware:

•

WKHUH LV QR UHOHYDQW DXGLW LQIRUPDWLRQ RI ZKLFK

•

WKH 7UXVWHHV KDYH WDNHQ DOO VWHSV WKDW WKH\ RXJKW

WKH FKDULWDEOH FRPSDQ\ȆV DXGLWRU LV XQDZDUH DQG

WR KDYH WDNHQ WR PDNH WKHPVHOYHV DZDUH RI DQ\

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•

make judgements and estimates that are

•

VWDWH ZKHWKHU DSSOLFDEOH 8. $FFRXQWLQJ

In preparing the Report of the Trustees the Trustees

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KDYH WDNHQ DGYDQWDJH RI WKH H[HPSWLRQ DYDLODEOH WR

departures disclosed and

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H[SODLQHG LQ WKH ࢉQDQFLDO VWDWHPHQWV

Report.

•

the auditor is aware of that information

UHDVRQDEOH DQG SUXGHQW

SUHSDUH WKH ࢉQDQFLDO VWDWHPHQWV RQ WKH JRLQJ concern basis unless it is inappropriate to

Signed on behalf of the Trustees

presume that the charitable company and the group will continue in operation.

The Trustees are responsible for keeping adequate

'U 0 $YHU\

accounting records that disclose with reasonable

Chair and Trustee

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$SSURYHG RQ -XO\

worldlandtrust.org

25

Independent Auditor’s Report to the members of World Land Trust Opinion

WKH )5&ȆV (WKLFDO 6WDQGDUG DQG ZH KDYH IXOࢉOOHG

:H KDYH DXGLWHG WKH ࢉQDQFLDO VWDWHPHQWV RI :RUOG

ZLWK WKHVH UHTXLUHPHQWV :H EHOLHYH WKDW WKH

Land Trust for the year ended 31 December 2020 ZKLFK FRPSULVH &RQVROLGDWHG VWDWHPHQW RI ࢉQDQFLDO DFWLYLWLHV WKH 6XPPDU\ LQFRPH DQG H[SHQGLWXUH

our other ethical responsibilities in accordance DXGLW HYLGHQFH ZH KDYH REWDLQHG LV VXࢇFLHQW DQG DSSURSULDWH WR SURYLGH D EDVLV IRU RXU RSLQLRQ

account, the Group and charity balance sheets, the

Conclusions relating to going concern

&RQVROLGDWHG VWDWHPHQW RI FDVK ࢊRZV DQG QRWHV

,Q DXGLWLQJ WKH ࢉQDQFLDO VWDWHPHQWV ZH KDYH

WR WKH ࢉQDQFLDO VWDWHPHQWV LQFOXGLQJ D VXPPDU\

concluded that the Trustees’ use of the going

RI VLJQLࢉFDQW DFFRXQWLQJ SROLFLHV 7KH ࢉQDQFLDO reporting framework that has been applied in their SUHSDUDWLRQ LV DSSOLFDEOH ODZ DQG 8QLWHG .LQJGRP Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard DSSOLFDEOH LQ WKH 8. DQG 5HSXEOLF RI ,UHODQG 8QLWHG .LQJGRP *HQHUDOO\ $FFHSWHG $FFRXQWLQJ 3UDFWLFH

JLYH D WUXH DQG IDLU YLHZ RI WKH VWDWH RI WKH

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group’s and parent charitable company’s net PRYHPHQW LQ IXQGV LQFOXGLQJ WKH LQFRPH DQG

H[SHQGLWXUH IRU WKH \HDU WKHQ HQGHG

•

%DVHG RQ WKH ZRUN ZH KDYH SHUIRUPHG ZH KDYH QRW LGHQWLࢉHG DQ\ PDWHULDO XQFHUWDLQWLHV UHODWLQJ WR HYHQWV RU FRQGLWLRQV WKDW LQGLYLGXDOO\ RU FROOHFWLYHO\ PD\ FDVW VLJQLࢉFDQW GRXEW RQ WKH JURXSȆV DELOLW\ WR continue as a going concern for a period of at least are authorised for issue.

group’s and of the parent charitable company’s

WKH ࢉQDQFLDO VWDWHPHQWV LV DSSURSULDWH

WZHOYH PRQWKV IURP ZKHQ WKH ࢉQDQFLDO VWDWHPHQWV

,Q RXU RSLQLRQ WKH ࢉQDQFLDO VWDWHPHQWV

•

concern basis of accounting in the preparation of

Our responsibilities and the responsibilities of the Trustees with respect to going concern are GHVFULEHG LQ WKH UHOHYDQW VHFWLRQV RI WKLV UHSRUW

Other information

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The Trustees are responsible for the other

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information. The other information comprises the

3UDFWLFH DQG

information included in the Report of the Trustees

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DQG WKH &KDLUȆV VWDWHPHQW DQG &KLHI ([HFXWLYHȆV

requirements of the Companies Act 2006.

VWDWHPHQW 2XU RSLQLRQ RQ WKH ࢉQDQFLDO VWDWHPHQWV

•

Basis for opinion We conducted our audit in accordance with

GRHV QRW FRYHU WKH RWKHU LQIRUPDWLRQ DQG H[FHSW WR the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion

,QWHUQDWLRQDO 6WDQGDUGV RQ $XGLWLQJ 8. ,6$V

thereon.

8.

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,Q FRQQHFWLRQ ZLWK RXU DXGLW RI WKH ࢉQDQFLDO

under those standards are further described in the Auditor’s responsibilities for the audit of the ࢉQDQFLDO VWDWHPHQWV VHFWLRQ RI RXU UHSRUW :H DUH independent of the group in accordance with the HWKLFDO UHTXLUHPHQWV WKDW DUH UHOHYDQW WR RXU DXGLW RI WKH ࢉQDQFLDO VWDWHPHQWV LQ WKH 8. LQFOXGLQJ

World Land Trust 26

Year ended 31 December 2020

statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent ZLWK WKH ࢉQDQFLDO VWDWHPHQWV RU RXU NQRZOHGJH obtained in the audit or otherwise appears to be materially misstated. If we identify such material

Independent Auditor’s Report to the members of World Land Trust inconsistencies or apparent material misstatements, we are required to determine whether there is a PDWHULDO PLVVWDWHPHQW LQ WKH ࢉQDQFLDO VWDWHPHQWV RU a material misstatement of the other information. ,I EDVHG RQ WKH ZRUN ZH KDYH SHUIRUPHG ZH conclude that there is a material misstatement of this other information, we are required to report that IDFW :H KDYH QRWKLQJ WR UHSRUW LQ WKLV UHJDUG

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

•

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•

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E\ WKH SDUHQW FKDULWDEOH FRPSDQ\ RU

•

WKH SDUHQW FKDULWDEOH FRPSDQ\ ࢉQDQFLDO

DFFRXQWLQJ UHFRUGV DQG UHWXUQV RU

•

•

•

statements are not in agreement with the certain disclosures of Trustees’ remuneration VSHFLࢉHG E\ ODZ DUH QRW PDGH RU ZH KDYH QRW UHFHLYHG DOO WKH LQIRUPDWLRQ DQG H[SODQDWLRQV ZH UHTXLUH IRU RXU DXGLW RU the Trustees were not entitled to prepare the

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FRPSDQLHVȆ UHJLPH DQG WDNH DGYDQWDJH RI WKH small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report.

the directors’ report prepared for the purposes

RI FRPSDQ\ ODZ IRU WKH ࢉQDQFLDO \HDU IRU ZKLFK

WKH ࢉQDQFLDO VWDWHPHQWV DUH SUHSDUHG LV

FRQVLVWHQW ZLWK WKH ࢉQDQFLDO VWDWHPHQWV DQG

•

the strategic report and the directors’ report LQFOXGHG ZLWKLQ WKH 5HSRUW RI WKH 7UXVWHHV KDYH been prepared in accordance with applicable

Responsibilities of Trustees for the ࢉQDQFLDO VWDWHPHQWV As explained more fully in the Trustees’ responsibilities statement set out on page 25, the Trustees (who are also the directors of the charitable

legal requirements.

company for the purposes of company law) are

Matters on which we are required to report by exception

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In the light of the knowledge and understanding of

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the group and the parent charitable company and

from material misstatement, whether due to fraud

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or error.

ZH KDYH QRW LGHQWLࢉHG PDWHULDO PLVVWDWHPHQWV LQ the Report of the Trustees (which incorporates the directors’ report).

UHVSRQVLEOH IRU WKH SUHSDUDWLRQ RI WKH ࢉQDQFLDO WUXH DQG IDLU YLHZ DQG IRU VXFK LQWHUQDO FRQWURO DV the Trustees determine is necessary to enable the

,Q SUHSDULQJ WKH ࢉQDQFLDO VWDWHPHQWV WKH 7UXVWHHV are responsible for assessing the group’s and the parent charitable company’s ability to continue as

:H KDYH QRWKLQJ WR UHSRUW LQ UHVSHFW RI WKH IROORZLQJ

a going concern, disclosing, as applicable, matters

matters in relation to which the Companies Act 2006

related to going concern and using the going

requires us to report to you if, in our opinion:

concern basis of accounting unless the Trustees either intend to liquidate the group or the parent FKDULWDEOH FRPSDQ\ RU WR FHDVH RSHUDWLRQV RU KDYH QR UHDOLVWLF DOWHUQDWLYH EXW WR GR VR

worldlandtrust.org

27

Independent Auditor’s Report to the members of World Land Trust Auditor’s responsibilities for the audit of WKH ࢉQDQFLDO VWDWHPHQWV

:H HYDOXDWHG PDQDJHPHQWȆV LQFHQWLYHV DQG

2XU REMHFWLYHV DUH WR REWDLQ UHDVRQDEOH DVVXUDQFH

of controls), and determined that the principal risks

DERXW ZKHWKHU WKH ࢉQDQFLDO VWDWHPHQWV DV D ZKROH are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance LV D KLJK OHYHO RI DVVXUDQFH EXW LV QRW D JXDUDQWHH WKDW DQ DXGLW FRQGXFWHG LQ DFFRUGDQFH ZLWK ,6$V 8.

will always detect a material misstatement when it

opportunities for fraudulent manipulation of the ࢉQDQFLDO VWDWHPHQWV LQFOXGLQJ WKH ULVN RI RYHUULGH were related to income and grant recognition. Audit procedures performed by the engagement team included:

•

Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and

exists. Misstatements can arise from fraud or error

IUDXG

DQG DUH FRQVLGHUHG PDWHULDO LI LQGLYLGXDOO\ RU LQ WKH aggregate, they could reasonably be expected to

•

5HYLHZLQJ WKH FRQWUROV DQG SURFHGXUHV RI

LQࢊXHQFH WKH HFRQRPLF GHFLVLRQV RI XVHUV WDNHQ RQ

WKH JURXS UHOHYDQW WR WKH SUHSDUDWLRQ RI WKH

ࢉQDQFLDO VWDWHPHQWV WR HQVXUH WKHVH ZHUH LQ SODFH

WKH EDVLV RI WKHVH ࢉQDQFLDO VWDWHPHQWV Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, RXWOLQHG DERYH WR GHWHFW PDWHULDO PLVVWDWHPHQWV LQ respect of irregularities, including fraud. The extent

throughout the year, including during the

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•

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SUHYHQW DQG GHWHFW LUUHJXODULWLHV

•

Identifying and testing journals, in particular

to which our procedures are capable of detecting

journal entries posted with unusual account combinations, postings by unusual users or with

irregularities, including fraud is detailed below:

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Based on our understanding of the group and the

•

Challenging assumptions and judgements

HQYLURQPHQW LQ ZKLFK LW RSHUDWHV ZH LGHQWLࢉHG WKDW the principal risks of non-compliance with laws and regulations related to charity and company law applicable in England and Wales, and we considered WKH H[WHQW WR ZKLFK QRQ FRPSOLDQFH PLJKW KDYH D PDWHULDO HࢆHFW RQ WKH ࢉQDQFLDO VWDWHPHQWV :H DOVR FRQVLGHUHG WKRVH ODZV DQG UHJXODWLRQV WKDW KDYH D GLUHFW LPSDFW RQ WKH SUHSDUDWLRQ RI WKH ࢉQDQFLDO statements such as the Companies Act 2006, fundraising regulations and the Charities Act 2011.

made by management in their critical accounting estimates, in particular donation and legacy recognition, recognition of grant income and the UHFRJQLWLRQ RI JUDQW H[SHQGLWXUH WKH YDOXDWLRQ DQG UHFRJQLWLRQ RI FDUERQ FUHGLWV DQG SURYLVLRQV for bad and/or doubtful debts.

A further description of our responsibilities for the DXGLW RI WKH ࢉQDQFLDO VWDWHPHQWV LV ORFDWHG RQ WKH Financial Reporting Council’s website at: www.frc. org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

World Land Trust 28

Year ended 31 December 2020

Independent Auditor’s Report to the members of World Land Trust Use of our report This report is made solely to the charitable company’s members, as a body, in accordance with &KDSWHU RI 3DUW RI WKH &RPSDQLHV $FW 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 UHSRUW RU IRU WKH RSLQLRQV ZH KDYH IRUPHG

6WHYHQ +DUSHU 6HQLRU 6WDWXWRU\ $XGLWRU

)RU DQG RQ EHKDOI RI +D\VPDFLQW\UH //3 6WDWXWRU\ $XGLWRU July

30 2021

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worldlandtrust.org

29

Consolidated statement of financial activities For year ended 31 December 2020 Unrestricted Funds Note £’000 ,QFRPH DQG HQGRZments Donations and legacies &KDULWDEOH DFWLYLWLHV 2WKHU WUDGLQJ DFWLYLWLHV ,QYHVWPHQW LQFRPH Other

Restricted Funds £’000

Endowment Funds £’000

Total 2020 £’000

As restated Total 2019 £’000

3 4 5 6

3,715 277 11

3

3,029

-

36

-

6,780 277 11 51 3

5,441 168 24 59 4

7,122

5,696

7

8 8 8

461

4,401 799 414

444 3,703 1,088 606

8

220

22

-

242

208

6,317

6,049

1HW JDLQV ORVVHV RQ LQYHVWPHQWV

43

235

848

(118)

23

(2,301)

2,301

-

-

-

7

-

90

97

(107)

945

(225)

5,486

5,890

28

-

(316)

-

(316)

(179)

5,170

5,711

22

6,115

5, 486

Total income Expenditure Raising funds &KDULWDEOH DFWLYLWLHV Land acquisition 5HVHUYH PDQDJHPHQW Reforestation 3DUWQHUVKLSV DQG communications Total expenditure

Net income/(expenditure) Transfer between funds Other (losses)/gains Net movement in funds Reconciliation of funds Total funds brought forward DV SUHYLRXVO\ VWDWHG 3ULRU \HDU DGMXVWPHQW Total funds brought forward as restated Total funds carried forward

7KH 6WDWHPHQW RI )LQDQFLDO $FWLYLWLHV LQFOXGHV DOO JDLQV DQG ORVVHV UHFRJQLVHG LQ WKH \HDU AOO LQFRPH DQG H[SHQGLWXUH GHULYH IURP FRQWLQXLQJ DFWLYLWLHV $ IXOO FRPSDUDWLYH 6WDWHPHQW RI )LQDQFLDO $FWLYLWLHV LV LQFOXGHG DW QRWH ThH QRWHV RQ SDJHV IRUP SDUW RI WKHVH ࢉQDQFLDO VWDWHPHQWV World Land Trust 30

Year ended 31 December 2020

Summary income and expenditure account For year ended 31 December 2020 2020 £’000

As restated 2019 £’000

7,069 (14) 34

5,637 98 44

Gross income

7,089

5,779

Expenditure Interest payable Depreciation and impairment charges

6,248 4 19

5,977 5 22

Total expenditure

6,271

6,004

818

(225)

Income *DLQV ORVVHV RQ LQYHVWPHQWV ,QWHUHVW DQG LQYHVWPHQW LQFRPH

Net income/(expenditure)

7KH QRWHV RQ SDJHV IRUP SDUW RI WKHVH ࢉQDQFLDO VWDWHPHQWV

worldlandtrust.org

31

Group and charity balance sheets

&RPSDQ\ 1XPEHU

at 31 December 2020

Group

Charity

As restated

Fixed assets Intangible assets Tangible assets ,QYHVWPHQWV

Current assets Stock Debtors &DVK DW EDQN DQG LQ KDQG

Liabilities Creditors: amounts falling due within one year

As restated

2020

2019

2020

2019

Note

£000

£000

£000

£000

14 15 16

1

1

17 18

22

22

19

1HW FXUUHQW DVVHWV

7RWDO DVVHWV OHVV FXUUHQW OLDELOLWLHV

20

Creditors: amounts falling due after one year Total net assets

Funds of the charity 8QUHVWULFWHG IXQGV 5HYDOXDWLRQ IXQG

23

Designated funds Restricted funds Endowment funds

23 24 25

3,610

3,065

3,610

3,065

Total charity funds

22

7KH XQFRQVROLGDWHG VXUSOXV RI WKH &KDULW\ ZDV e GHࢉFLW e

$SSURYHG E\ WKH 7UXVWHHV RQ -XO\ 'U 0 $YHU\ Chair of Trustees

The notes at pages form part of these accounts.

World Land Trust 32

Year ended 31 December 2020

U 0 $UFKLEDOG 0 Trustee & Honorary Treasurer

Consolidated statement of cash flows For year ended 31 December 2020 Group

&DVK ࢊRZV LQ RSHUDWLQJ DFWLYLWLHV &DVK ࢊRZV IURP LQYHVWLQJ DFWLYLWLHV 'LYLGHQGV UHFHLYHG

,QWHUHVW UHFHLYHG

3XUFKDVH RI WDQJLEOH ࢉ[HG DVVHWV 3URFHHGV IURP VDOH RI LQYHVWPHQWV 3XUFKDVH RI LQYHVWPHQWV

([FKDQJH UDWH PRYHPHQWV RQ LQYHVWPHQWV

2020

2019

Note

£000

£000

27

2,801

(887)

1HW FDVK SURYLGHG XVHG LQ E\ LQYHVWLQJ DFWLYLWLHV

&DVK ࢊRZV IURP ࢉQDQFLQJ DFWLYLWLHV ,QWHUHVW SDLG

Net change in cash and cash equivalent in the reporting period

2,741

(815)

Cash at bank and in hand at the beginning of the reporting period

2,679

3,601

5,517

2,679

5,517

2,679

1HW FDVK XVHG LQ SURYLGHG E\ ࢉQDQFLQJ DFWLYLWLHV

&KDQJH GXH WR H[FKDQJH UDWH PRYHPHQWV

Cash at bank and in hand at the end of the reporting period Cash and cash equivalents &DVK DW EDQN DQG LQ KDQG

&DVK KHOG E\ LQYHVWPHQW PDQDJHU

Cash at bank and in hand at the end of the reporting period

worldlandtrust.org

33

Notes to the accounts 1.

Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation XQFHUWDLQW\ LQ WKH SUHSDUDWLRQ RI WKH ࢉQDQFLDO VWDWHPHQWV DUH DV IROORZV a) Basis of preparation 7KH ࢉQDQFLDO VWDWHPHQWV KDYH EHHQ SUHSDUHG LQ accordance with Accounting and Reporting by &KDULWLHV 6WDWHPHQW RI 5HFRPPHQGHG 3UDFWLFH applicable to charities preparing their accounts in accordance with the Financial Reporting

months from the date of these accounts).

The Trustees therefore continue to adopt the JRLQJ FRQFHUQ EDVLV LQ SUHSDULQJ WKH ࢉQDQFLDO statements. d) Income All income is included in the Statement of )LQDQFLDO $FWLYLWLHV 6R)$ ZKHQ WKH FKDULW\ is legally entitled to the income after any SHUIRUPDQFH FRQGLWLRQV KDYH EHHQ PHW WKH amount can be measured reliably and it is

6WDQGDUG DSSOLFDEOH LQ WKH 8. DQG 5HSXEOLF RI

SUREDEOH WKDW WKH LQFRPH ZLOO EH UHFHLYHG

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For donations to be recognised the charity

-DQXDU\ ȁ &KDULWLHV 6253 )56 WKH

ZLOO KDYH EHHQ QRWLࢉHG RI WKH DPRXQWV DQG

Financial Reporting Standard applicable in the

the settlement date in writing. If there are

8. DQG 5HSXEOLF RI ,UHODQG )56 DQG WKH

conditions attached to the donation, and

Companies Act 2006.

WKLV UHTXLUHV D OHYHO RI SHUIRUPDQFH EHIRUH

7KH 7UXVW PHHWV WKH GHࢉQLWLRQ RI D SXEOLF

entitlement can be obtained, then income is

EHQHࢉW HQWLW\ XQGHU )56 $VVHWV DQG liabilities are initially recognised at historical FRVW RU WUDQVDFWLRQ YDOXH XQOHVV RWKHUZLVH VWDWHG LQ WKH UHOHYDQW DFFRXQWLQJ SROLF\ QRWH E *URXS ࢉQDQFLDO VWDWHPHQWV 7KH ࢉQDQFLDO VWDWHPHQWV FRQVROLGDWH WKH UHVXOWV of the charity and its wholly owned subsidiaries World Land Trust Trading Limited and WLT Australia Limited on a line-by-line basis. A VHSDUDWH 6WDWHPHQW RI )LQDQFLDO $FWLYLWLHV and Income and Expenditure Account for the charity has not been presented because the

deferred until those conditions are fully met RU WKH IXOࢉOPHQW RI WKRVH FRQGLWLRQV LV ZLWKLQ the control of the charity and it is probable WKDW WKH\ ZLOO EH IXOࢉOOHG *LIW $LG UHFHLYDEOH on donations is recognised as unrestricted income.

1R DPRXQW LV LQFOXGHG LQ WKH ࢉQDQFLDO VWDWHPHQWV IRU YROXQWHHU WLPH LQ OLQH ZLWK WKH 6253 )56

For legacies, we recognise income at the SRLQW WKDW ZH KDYH HQWLWOHPHQW EHLQJ SUREDWH granted, and we can measure the expected

FKDULW\ KDV WDNHQ DGYDQWDJH RI WKH H[HPSWLRQ

distribution with reasonable accuracy.

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2Q RFFDVLRQ OHJDFLHV ZLOO EH QRWLࢉHG KRZHYHU

2006.

it is not possible to measure the expected

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World Land Trust 34

WKH IRUHVHHDEOH IXWXUH EHLQJ DW OHDVW WZHOYH

Year ended 31 December 2020

GLVWULEXWLRQ 2Q WKHVH RFFDVLRQV LI VLJQLࢉFDQW the legacy is treated as a contingent asset and disclosed. ,QFRPH IURP WUDGLQJ DFWLYLWLHV LQFOXGHV LQFRPH HDUQHG IURP IXQGUDLVLQJ HYHQWV DQG WUDGLQJ DFWLYLWLHV WR UDLVH IXQGV IRU WKH FKDULW\

Notes to the accounts Income (continued) ,QFRPH LV UHFHLYHG LQ H[FKDQJH IRU VXSSO\LQJ JRRGV DQG VHUYLFHV LQ RUGHU WR UDLVH IXQGV DQG is recognised when entitlement has occurred. ,QYHVWPHQW LQFRPH LV HDUQHG WKURXJK KROGLQJ DVVHWV IRU LQYHVWPHQW SXUSRVHV ,W LQFOXGHV GLYLGHQGV DQG LQWHUHVW ,W LV LQFOXGHG ZKHQ WKH amount can be measured reliably. Interest LQFRPH LV UHFRJQLVHG XVLQJ WKH HࢆHFWLYH LQWHUHVW PHWKRG DQG GLYLGHQG LQFRPH LV UHFRJQLVHG DV WKH FKDULW\ȆV ULJKW WR UHFHLYH payment is established.

H 'RQDWHG VHUYLFHV DQG IDFLOLWLHV

f) Fund accounting 8QUHVWULFWHG IXQGV DUH DYDLODEOH IRU XVH DW WKH discretion of the Trustees in furtherance of the JHQHUDO REMHFWLYHV RI WKH FKDULW\ DQG ZKLFK KDYH QRW EHHQ GHVLJQDWHG IRU RWKHU SXUSRVHV Designated funds comprise unrestricted funds WKDW KDYH EHHQ VHW DVLGH E\ WKH 7UXVWHHV IRU particular purposes. The aim and use of each designated fund is set out in the notes to the ࢉQDQFLDO VWDWHPHQWV Restricted funds are funds which are to be XVHG LQ DFFRUGDQFH ZLWK VSHFLࢉF UHVWULFWLRQV LPSRVHG E\ GRQRUV RU ZKLFK KDYH EHHQ UDLVHG

Donated facilities and donated professional

by the charity for particular purposes. The cost

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of raising and administering such funds are

YDOXH ZKHQ WKHLU HFRQRPLF EHQHࢉW LV SUREDEOH

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it can be measured reliably, and the charity has

use of each restricted fund is set out in the

FRQWURO RYHU WKH LWHP )DLU YDOXH LV GHWHUPLQHG

QRWHV WR WKH ࢉQDQFLDO VWDWHPHQWV

EDVHG RQ WKH YDOXH RI WKH JLIW WR WKH FKDULW\ For example, the amount the charity would be willing to pay in the open market for such IDFLOLWLHV DQG VHUYLFHV $ FRUUHVSRQGLQJ DPRXQW is recognised in expenditure.

Gifts in kind donated for resale are included at IDLU YDOXH EHLQJ WKH H[SHFWHG SURFHHGV IURP sale less the expected costs of sale. Where HVWLPDWLQJ WKH IDLU YDOXH LV SUDFWLFDEOH XSRQ receipt it is recognised in stock and ‘Income IURP RWKHU WUDGLQJ DFWLYLWLHVȆ 8SRQ VDOH WKH YDOXH RI WKH VWRFN LV FKDUJHG DJDLQVW ȅ,QFRPH IURP RWKHU WUDGLQJ DFWLYLWLHVȆ DQG WKH SURFHHGV are recognised as ‘Income from other trading DFWLYLWLHVȆ :KHUH LW LV LPSUDFWLFDEOH WR IDLU YDOXH WKH LWHPV GXH WR WKH YROXPH RI ORZ YDOXH LWHPV WKH\ DUH QRW UHFRJQLVHG LQ WKH ࢉQDQFLDO statements until they are sold. This income is recognised within ‘Income from other trading DFWLYLWLHVȆ

Endowment funds represents those assets which must be held permanently by the charity or where there is a requirement to spend or apply the capital.

7KH 6DQ 5DIDHO 5HVHUYH LQ 3DUDJXD\ DUH LQYHVWPHQWV KHOG IRU WKH IXUWKHUDQFH DQG EHQHࢉW RI RQJRLQJ RSHUDWLRQDO FRVWV DW WKH UHVHUYH ,QFRPH DULVLQJ RQ WKH HQGRZPHQW fund can be used in accordance with the WULSDUWLWH DJUHHPHQW ZLWK &RQVHUYDWLRQ ,QWHUQDWLRQDO )RXQGDWLRQ DQG *X\UD 3DUDJXD\ Any capital gains or losses arising on the LQYHVWPHQWV IRUP SDUW RI WKH IXQG ,QYHVWPHQW PDQDJHPHQW FKDUJHV DQG OHJDO DGYLFH UHODWLQJ to the fund are charged against the fund.

8. .LWHV +LOO LV UHVHUYH KHOG LQ *ORXFHVWHUVKLUH JLIWHG DV D OLYLQJ OHJDF\ 7KH ODQG LV FODVVLࢉHG as an endowment fund due to the requirement to hold the asset into perpetuity, and it is therefore a permanent endowment.

worldlandtrust.org

35

Notes to the accounts J ([SHQGLWXUH DQG ,UUHFRYHUDEOH 9$7 All expenditure is accounted for on an accruals

•

of the obligation can be measured reliably. It is categorised under the following headings: &RVWV RI UDLVLQJ IXQGV LQFOXGHV RI GLUHFW VWDࢆ costs, exteUQDO FRVWV VXFK DV DGYHUWLVLQJ DQG marketing and other costs associated with DWWUDFWLQJ YROXQWDU\ LQFRPH &RVW RI UDLVLQJ IXQGV DOVR LQFOXGHV LQYHVWPHQW PDQDJHU IHHV and costs associated with attracting trading LQFRPH DQG ([SHQGLWXUH RQ FKDULWDEOH DFWLYLWLHV LQFOXGHV those costs incurred by the charity and trading subsidiar\ LQ WKH GHOLYHU\ RI LWV DFWLYLWLHV DQG VHUYLFHV WR EHQHࢉFLDULHV ,W LQFOXGHV FRVWV VHQW WR RYHUVHDV SDUWQHUV WR XQGHUWDNH RXU FKDULWDEOH DFWLYLWLHV LQ WKH UHOHYDQW JHRJUDSKLFDO ORFDWLRQV DQG WKH VWDࢇQJ FRVWV DQG PHHWLQJ DQG WUDYHO H[SHQGLWXUH UHTXLUHG WR OLDLVH HYDOXDWH DQG PRQLWRU WKRVH DFWLYLWLHV *UDQWV WR RYHUVHDV SDUWQHUV DUH UHFRJQLVHG where either a OHJDO REOLJDWLRQ RU D FRQVWUXFWLYH obligation arises, and the conditions are not in control of the charity.

7KH 7UXVWHHV FRQVLGHU WKDW D FRQVWUXFWLYH REOLJDWLRQ LV FUHDWHG

•

ZKHUH DSSURYDO RI WKH JUDQW DQG communication to the partner occur prior to year-end and there is an established practice LQGLFDWLQJ :/7 ZLOO IXOࢉO LWV FRPPLWPHQW 7KLV relates to where the charity has a longerWHUP UHODWLRQVKLS ZLWK DQ RYHUVHDV SDUWQHU and historic practice is that the charity has IXOࢉOOHG JUDQW IXQGLQJ Uequirements and not ZLWKGUDZQ IXQGLQJ DW D ODWHU GDWH RU

World Land Trust 36

Year ended 31 December 2020

communication to the partner occur prior to year-end and payment is within three

basis and has EHHQ FODVVLࢉHG XQGHU KHDGLQJV that aggregate all costs related to the category.

Expenditure is recognised where there is D OHJDO RU FRQVWUXFWLYH REOLJDWLRQ WR PDNH payments to third parties, it is probable that the settlement will be required and the amount

ZKHUH DSSURYDO RI WKH JUDQW DQG

months as it is considered that this indicates that the conditions were out of the control of the charity at the year end and therefore a liability has been created.

The charity has changed its accounting policy on recognition of grants in 2020 and this is GHWDLOHG LQ QRWH ,UUHFRYHUDEOH 9$7 LV FKDUJHG DV DQ H[SHQVH DJDLQVW WKH DFWLYLW\ IRU ZKLFK H[SHQGLWXUH DURVH h) Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly XQGHUWDNH FKDULWDEOH DFWLYLWLHV 6XSSRUW FRVWV LQFOXGH ࢉQDQFH + 5 , 7 JHQHUDO RࢇFH DQG SUHPLVHV DQG JRYHUQDQFH FRVWV ZKLFK VXSSRUW WKH FKDULWDEOH DFWLYLWLHV RI WKH FKDULW\ 7KHVH FRVWV KDYH EHHQ DOORFDWHG EHWZHHQ FRVW RI raising funds and expenditure on charitable DFWLYLWLHV 7KH EDVHV RQ ZKLFK VXSSRUW FRVWV KDYH EHHQ DOORFDWHG DUH VHW RXW LQ QRWH i) Operating leases Operating lease rentals are charged to the 6WDWHPHQW RI )LQDQFLDO $FWLYLWLHV RYHU WKH SHULRG of the lease.

M ,QWDQJLEOH ࢉ[HG DVVHWV Intangible assets are amortised on a straight OLQH EDVLV RYHU WKHLU XVHIXO OLYHV 7KH XVHIXO OLYHV RI LQWDQJLEOH DVVHWV DUH DV IROORZV Type

Useful Economic Life Basis

Trademarks

5 years

In line

3URYLVLRQ LV

ZLWK

made for any

strategic

impairment.

plan to 2020

Notes to the accounts EH PHDVXUHG UHOLDEO\ 2WKHU LQYHVWPHQWV DUH

N 7DQJLEOH ࢉ[HG DVVHWV 7DQJLEOH ࢉ[HG DVVHWV DUH VWDWHG DW FRVW RU GHHPHG FRVW RU YDOXDWLRQ OHVV DFFXPXODWHG depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

'HSUHFLDWLRQ LV SURYLGHG RQ DOO WDQJLEOH ࢉ[HG DVVHWV DW UDWHV FDOFXODWHG WR ZULWH Rࢆ WKH FRVW OHVV HVWLPDWHG UHVLGXDO YDOXH RI HDFK DVVHW RQ D V\VWHPDWLF EDVLV RYHU LWV H[SHFWHG XVHIXO OLIH DV follows: Type

Useful Economic Life

2ࢇFH IXUQLWXUH ࢉWWLQJV DQG

UHGXFLQJ

equipment

balance

&RPSXWHU HTXLSPHQW

VWUDLJKW line

On transition to FRS 102, the Trustees took WKH WUDQVLWLRQDO UHOLHI DYDLODEOH DQG UHYDOXHG the freehold property to deemed cost and a SROLF\ RI RQJRLQJ UHYDOXDWLRQ KDV QRW EHHQ DGRSWHG 7KH YDOXDWLRQ ZDV SUHSDUHG E\ 2 1 &KDSPDQ ,QGHSHQGHQW 6XUYH\RUV +DOHVZRUWK The Trustees are of the opinion that due to the program of repairs and maintenance WKH SURSHUW\ ZLOO QRW EH OHVV WKDQ WKH YDOXH in the accounts and therefore depreciation is not charged. An annual impairment UHYLHZ LV XQGHUWDNHQ E\ WKH 7UXVWHHV DQG QR LPSDLUPHQWV KDYH EHHQ LGHQWLࢉHG O )L[HG DVVHW LQYHVWPHQWV ,QYHVWPHQWV DUH UHFRJQLVHG LQLWLDOO\ DW IDLU YDOXH ZKLFK LV QRUPDOO\ WKH WUDQVDFWLRQ SULFH excluding transaction costs. Subsequently, WKH\ DUH PHDVXUHG DW IDLU YDOXH ZLWK

measured at cost less impairment. ,QYHVWPHQWV LQ VXEVLGLDULHV DUH PHDVXUHG DW cost less impairment. m) Stock Stock includes carbon credits which are a tradable monetary security which is equal to one tonne of a greenhouse gas, such as Carbon Dioxide. The credits are stated at the lower of FRVW DQG QHW UHDOLVDEOH YDOXH 3URYLVLRQ LV PDGH ZKHUH QHFHVVDU\ IRU VORZ PRYLQJ LQYHQWRU\ n) Debtors Trade debtors and other debtors are recognised at the settlement amount due.

3UHSD\PHQWV DUH YDOXHG DW WKH DPRXQW SUHSDLG net of any trade discounts due. Accrued income LV YDOXHG DW WKH DPRXQW GXH o) Cash at bank and in hand Cash at bank and in hand includes cash and VKRUW WHUP KLJKO\ OLTXLG LQYHVWPHQWV ZLWK D short maturity date of three months or less.

S &UHGLWRUV DQG SURYLVLRQV &UHGLWRUV DQG SURYLVLRQV DUH UHFRJQLVHG ZKHUH the charity has a present obligation resulting IURP D SDVW HYHQW WKDW ZLOO SUREDEO\ UHVXOW LQ the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and SURYLVLRQV DUH QRUPDOO\ UHFRJQLVHG DW WKHLU settlement amount.

Grant creditors are recognised in line with the SROLF\ VHW RXW LQ QRWH J DERYH

changes recognised in ‘net gains / (losses) RQ LQYHVWPHQWVȆ LQ WKH 6R)$ LI WKH VKDUHV DUH SXEOLFO\ WUDGHG RU WKHLU IDLU YDOXH FDQ RWKHUZLVH

worldlandtrust.org

37

Notes to the accounts The critical accounting judgements and

T 3HQVLRQV

HVWLPDWHV UHODWH WR

7KH 7UXVW RSHUDWHV D GHࢉQHG FRQWULEXWLRQ

• grants that are recognised based on the new

pension scheme which employees are entitled

accounting policy as described in note 1 (g)

to join and is funded by contributions from the

and details of the impact of the change are

employee and employer. The contributions

GHWDLOHG LQ QRWH

made for the accounting period are treated as

• deferred income where amounts are set aside

an expense as they become payable and were

to meet the future expenditure of monitoring

£39,000 (2019: £31,000).

DQG HYDOXDWLRQ RI WKH FDUERQ FUHGLWV 7KH amounts are based on an estimate of

r) Redundancy

IXWXUH VWDࢇQJ FRVWV DQG H[WHUQDO FRVWV RI

Where an obligation to make a redundancy or

undertaking monitoring. These are estimated

termination payment exists, the costs incurred

WR EH RQH PRQWKȆV VWDࢆ WLPH SHU DQQXP DQG

by the charity are accounted for on an accruals

ELDQQXDO PRQLWRULQJ YLVLWV RU DGGLWLRQDO GXH

EDVLV DQG LQFOXGHG ZLWKLQ HPSOR\HH EHQHࢉWV s) Foreign currency Foreign currency transactions are initially

diligence remotely. (u) World Land Trust is a company limited by guarantee and registered in England and Wales

recognised by applying to the foreign currency

FRPSDQ\ QXPEHU ,WV UHJLVWHUHG

amount the spot exchange rate between the

address is Blyth House, Bridge Street,

functional currency and the foreign currency

+DOHVZRUWK 6XࢆRON ,3 $%

at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. (t) Critical accounting judgements and estimates ,Q SUHSDULQJ WKHVH ࢉQDQFLDO VWDWHPHQWV WKH 7UXVWHHV KDYH PDGH MXGJHPHQWV HVWLPDWHV DQG DVVXPSWLRQV WKDW DࢆHFW WKH DSSOLFDWLRQ of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in WKH ࢉQDQFLDO VWDWHPHQWV (VWLPDWHV DQG MXGJHPHQWV DUH FRQWLQXDOO\ HYDOXDWHG DQG are based on historical experience and other IDFWRUV LQFOXGLQJ H[SHFWDWLRQV RI IXWXUH HYHQWV WKDW DUH EHOLHYHG WR EH UHDVRQDEOH XQGHU WKH circumstances.

World Land Trust 38

Year ended 31 December 2020

2.

Gifts in Kind 7KH YDOXH RI YROXQWHHUV FRQVXOWDQWV DQG corporate entities time and resources is HVWLPDWHG DW e e :H KDYH LQFOXGHG WKH YDOXH ZKHUH LW LV TXDQWLࢉDEOH EXW UHFRJQLVH WKDW WKH 7UXVW UHFHLYHG D VLJQLࢉFDQW OHYHO RI VXSSRUW ZKLFK ZH DUH XQDEOH WR UHOLDEO\ quantify.

This has not been recognised in the Statement RI )LQDQFLDO $FWLYLWLHV DV VHW RXW LQ 6HFWLRQ H

of the accounting policies.

Notes to the accounts ,QFRPH IURP GRQDWLRQV DQG OHJDFLHV

2020 Total Funds £000

2019 Total Funds £000

*LIWV /HJDFLHV *UDQWV

7RWDO

2020 Total Funds £000

2019 Total Funds £000

2020 Total Funds £000

2019 Total Funds £000

2

,QFRPH IURP FKDULWDEOH DFWLYLWLHV

&RQWUDFWXDO LQFRPH

,QFRPH IURP RWKHU WUDGLQJ DFWLYLWLHV

6DOHV RI FDUGV Sales of artwork 2WKHU

3

7RWDO

2020 Total Funds £000

2019 Total Funds £000

,QYHVWPHQW LQFRPH

%DQN LQWHUHVW DQG GLYLGHQGV UHFHLYDEOH

worldlandtrust.org

39

Notes to the accounts 7.

Analysis of expenditure on raising funds

2020 £000

2019 £000

Costs of raising voluntary income: 'LUHFW VWDࢆ FRVWV

0DUNHWLQJ 35 (YHQWV

2WKHU GLUHFW IXQGUDLVLQJ FRVWV

$SSRUWLRQPHQW RI VXSSRUW FRVW DQG JRYHUQDQFH FRVWV

2 10

5 9

Cost of trading operations ,QYHVWPHQW PDQDJHU IHHV Total

8.

Analysis of Expenditure on Charitable Activities Land Reserve Partnerships & Acquisition Management Reforestation Communications £000 £000 £000 £000 'LUHFW VWDࢆ FRVWV

([SHQGLWXUH WR SURMHFW SDUWQHUV

2WKHU GLUHFW SURMHFW FRVWV

7UDYHO DQG 0HHWLQJ FRVWV

Apportionment of support DQG JRYHUQDQFH FRVWV

Total 2020 £000

Land Reserve Partnerships & Acquisition Management Reforestation Communications £000 £000 £000 £000

As restated Total 2019 £000

All grant expenditure is paid to institutions. A list of project partners is included on page 57.

Prior year:

'LUHFW VWDࢆ FRVWV Expenditure to project SDUWQHUV 2WKHU GLUHFW SURMHFW FRVWV 7UDYHO DQG 0HHWLQJ FRVWV Apportionment of support DQG JRYHUQDQFH FRVWV

World Land Trust 40

Year ended 31 December 2020

Notes to the accounts 9.

Analysis of support and governance costs Basis of Apportionment

General Support £000

Governance £000

Total 2020 £000

6WDࢆ FRVWV 7UDYHO DQG PHHWLQJ FRVWV )LQDQFH , 7 +5 3UHPLVHV DQG JHQHUDO RࢇFH PDQDJHPHQW

6WDࢆ WLPH 7\SH RI PHHWLQJ 6WDࢆ WLPH DQG JRYHUQDQFH 6WDࢆ WLPH 6WDࢆ WLPH

6WDࢆ WLPH DQG JRYHUQDQFH

7RWDO

General Support £000

Governance £000

Total 2019 £000

Prior year: Basis of Apportionment

6WDࢆ FRVWV 7UDYHO DQG PHHWLQJ FRVWV )LQDQFH , 7 +5 3UHPLVHV DQG JHQHUDO RࢇFH PDQDJHPHQW

6WDࢆ WLPH 7\SH RI PHHWLQJ 6WDࢆ WLPH DQG JRYHUQDQFH 6WDࢆ WLPH 6WDࢆ WLPH

6WDࢆ WLPH DQG JRYHUQDQFH

7RWDO

2020 £000

2019 £000

17 2 1

19 97

20

15 2 1

22 (97)

10

10. Movement in total funds for the year

This is stated after charging: Auditor’s remuneration

– Charity – Subsidiary – WLT Australia

%DQN ORDQ LQWHUHVW SD\DEOH Depreciation Foreign exchange gains/(losses) *DLQ ORVV RQ LQYHVWPHQWV

Loss/(gain) on disposal of assets

worldlandtrust.org

41

Notes to the accounts 11. $QDO\VLV RI VWDࢆ FRVWV 7UXVWHH UHPXQHUDWLRQ DQG H[SHQVHV and the cost of key management personnel

Salaries and wages Social security costs 3HQVLRQ FRVWV

6WDࢆ UHFHLYHG HPROXPHQWV LQ WKH IROORZLQJ EDQG £90,000 - £100,000 e e

£60,000 - £70,000

2020 £000 723 59

2019 £000 696 56

2

1

1

Salaries and wages include termination payments of £nil (2019: £60,000). There were no amounts outstanding at the year end.

7KH FKDULW\ 7UXVWHHV ZHUH QRW SDLG RU UHFHLYHG DQ\ RWKHU EHQHࢉWV IURP HPSOR\PHQW ZLWK WKH 7UXVW RU LWV VXEVLGLDULHV LQ WKH \HDU eQLO 1R FKDULW\ 7UXVWHH UHFHLYHG RU ZDV HQWLWOHG WR UHFHLYH DQ\ remuneration (2019: £nil). During the year the Trust no reimbursement to Council members in respect of WUDYHO DQG VXEVLVWHQFH ZHUH PDGH RQH e

7KH HPSOR\HH EHQHࢉWV RI WKH NH\ PDQDJHPHQW SHUVRQQHO IRU WKH JURXS ZHUH e e

7KH QXPEHU RI HPSOR\HHV LQ WKH NH\ PDQDJHPHQW SHUVRQQHO JURXS ZHUH

7KH PRQWKO\ DYHUDJH KHDG FRXQW ZDV VWDࢆ VWDࢆ DQG WKH PRQWKO\ DYHUDJH QXPEHUV RI IXOO WLPH HTXLYDOHQW HPSOR\HHV LQFOXGLQJ SDUW WLPH VWDࢆ GXULQJ WKH \HDU ZHUH DV IROORZV

Raising funds &KDULWDEOH DFWLYLWLHV Support (FRV\VWHPV VHUYLFHV 7RWDO VWDࢆ QXPEHUV

2020 £000 9

5

World Land Trust 42

Year ended 31 December 2020

2019 £000 7

5

Notes to the accounts 12. Related party transactions The Trust has considered the disclosure UHTXLUHPHQWV RI WKH &KDULWLHV 6253 DQG EHOLHYHV that the following related party transactions, all of which were made on an arm’s length basis, require disclosure.

Donations from Trustees (including connected persons and parties), in aggregate, totaled £59,611 GXULQJ e

13. Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in 3DUDJUDSK 6FKHGXOH )LQDQFH $FW DQG WKHUHIRUH LW PHHWV WKH GHࢉQLWLRQ RI D FKDULWDEOH FRPSDQ\ IRU 8. FRUSRUDWLRQ WD[ SXUSRVHV

14. ,QWDQJLEOH )L[HG DVVHWV Intangible assets consist of trademarks. In 2015 World Land Trust purchased the WLT Carbon Balanced trademarks back from a company with whom the trading company had had a contractual arrangement with. Intangible assets at 31 December 2020 were held at £nil (2019: £1,000)

worldlandtrust.org

43

Notes to the accounts 15. Tangible Fixed Assets

)UHHKROG Property £000

&RQVHUYDWLRQ Land £000

)L[WXUHV Fittings £000

,7 Equipment £000

Total £000

-

-

-

21 -

21 -

Depreciation $W -DQXDU\ Charge for the year Disposals

-

-

2 -

17 --

19

At 31 December 2020

-

-

16

160

176

Net book value $W 'HFHPEHU

$W 'HFHPEHU

&RQVHUYDWLRQ Land £000

)L[WXUHV Fittings £000

,7 Equipment £000

Total £000

75 -

19 -

105 21 -

199 21 -

75

19

126

220

-

1 -

16 -

17 -

-

11

92

103

75

9

29

113

a) Group Cost or valuation $W -DQXDU\ Additions Disposals $W 'HFHPEHU

b) Charity

Cost or valuation At 1 January 2020 Additions Disposals At 31 December 2020 Depreciation $W -DQXDU\ Charge for the year Disposals

At 31 December 2020 Net book value $W 'HFHPEHU At 31 December 2019 World Land Trust 44

Year ended 31 December 2020

Notes to the accounts 16. ,QYHVWPHQWV

Group

£000 1,563 30

(12)

Charity 2019 £000 £000 1,757 1,553 71 30

90 (12)

Total valuation at 31 December

Comprising of: 8QOLVWHG VHFXULWLHV /LVWHG 8. DQG 2YHUVHDV VKDUHV 8. LQYHVWPHQW IXQGV

Total

Restriction analysis: 8QUHVWULFWHG Endowment

Total

2020 £ 2

2019 £ 2

Valuation at 1 January Additions at cost 'LVSRVDOV 1HW JDLQ ORVV RQ UHYDOXDWLRQ Exchange gain/(loss)

£000 1,767 71

90

Valuation At 31 December &DVK KHOG E\ LQYHVWPHQW PDQDJHU

2020

Charity

Subsidiary undertakings Shares in subsidiary undertakings

Group

Details of subsidiary undertakings at the balance sheet date are as follows: Name

Nature of Business

& owned

:RUOG ODQG 7UXVW Trading Ltd

&RQVHUYDWLRQ contracting

:/7 $XVWUDOLD /WG

&RQVHUYDWLRQ charity

7XUQRYHU Expenditure 1HW SURࢉW Gift aid payable

Results £’000

230

-

Net Assets £’000

,QFRPH Expenditure 6XUSOXV GHࢉFLW

16 30

The charity holds 1 share of £1 in its wholly owned trading subsidiary company World Land Trust Trading /LPLWHG &RPSDQ\ QXPEHU ZKLFK LV LQFRUSRUDWHG LQ WKH 8QLWHG .LQJGRP 7KHVH DUH WKH RQO\ shares alloWWHG FDOOHG XS DQG IXOO\ SDLG 7KH DFWLYLWLHV DQG UHVXOWV DUH VXPPDULVHG DERYH 7KH FKDULW\ KROG VKDUH RI $8' LQ LWV ZKROO\ RZQHG VXEVLGLDU\ :/7 $XVWUDOLD /LPLWHG ZKLFK LV LQFRUSRUDWHG LQ $XVWUDOLD 7KHVH DUH WKH RQO\ VKDUHV DOORWWHG DQG FDOOHG XS 7KH DFWLYLWLHV DQG UHVXOWV DUH VXPPDULVHG DERYH

worldlandtrust.org

45

Notes to the accounts 17. Stock

Retail good for resale &DUERQ RࢆVHWV

Group

2019 £000

2020 £000

Charity 2019 £000

2

2

22

22

-

-

2019 £000

2020 £000

Charity 2019 £000

2020 £000

6WRFN RI e ZDV UHFRJQLVHG DV DQ H[SHQVH GXULQJ e

18. Debtors

Group

2020 £000

7UDGH GHEWRUV 2WKHU GHEWRUV /RDQ WR RYHUVHDV SDUWQHU Amount due from subsidiary 3UHSD\PHQWV DQG DFFUXHG LQFRPH

225

221

/RDQV 7UDGH FUHGLWRUV 7D[ DQG VRFLDO VHFXULW\ FRVWV $FFUXDOV DQG GHIHUUHG LQFRPH *UDQW FRPPLWPHQWV

2020 £000

2019 £000

As restated Charity 2020 2019 £000 £000

19. Creditors: amounts falling due within one year As restated Group

20. Creditors: amounts falling due after one year As restated Group

/RDQV $FFUXDOV DQG GHIHUUHG LQFRPH *UDQW FRPPLWPHQWV

2020 £000

2019 £000

As restated Charity 2020 2019 £000 £000

The bank loan is secured on the Blyth House property owned by World Land Trust Trading Limited. The ORDQ ࢉQDQFLQJ LV LQ WKH IRUP RI D VHFXUHG ORDQ ZLWK D YDULDEOH LQWHUHVW UDWH SURYLGHG E\ %DUFOD\V %DQN 3OF 7KH DERYH ORDQ LQFOXGHV e e UHSD\DEOH E\ LQVWDOOPHQWV GXH DIWHU ࢉYH \HDUV World Land Trust 46

Year ended 31 December 2020

Notes to the accounts 21. 'HIHUUHG ,QFRPH 'HIHUUHG LQFRPH FRPSULVHV FRQWUDFWXDO DPRXQWV UHFHLYHG LQ DGYDQFH IRU FDUERQ EDODQFHG SURMHFWV ZKLFK ZLOO EH UHOHDVHG RYHU IXWXUH \HDUV WR PDWFK DJDLQVW WKH UHODWHG SURMHFW H[SHQGLWXUH

Balance at 1 January 2020 Amount released during the year Amount deferred in the year Balance at 31 December 2020

Group £000 96 2 -

Charity £000 -

As restated 2019 £000

:LWKLQ GHIHUUHG LQFRPH e e LV IDOOLQJ GXH DIWHU PRUH WKDQ RQH \HDU

22. Analysis of total funds At the 31 December 2020 total funds comprise: Note 8QUHVWULFWHG IXQGV 23 Designated funds 23

2020 £000

2020 £000

2019 £000

3,610

3,065

Restricted funds Endowment funds

Total Funds

24 25

6,115

5,170

worldlandtrust.org

47

Notes to the accounts 23. Analysis of unrestricted and designated Net gains/ ORVVHV

£000

Balance 31 December

£000

Total

([SHQGLWXUH 7UDQVIHUV £000 £000

Net gains/ ORVVHV

£000

Balance 31 December

£000

Unrestricted funds: *HQHUDO )XQG 5HYDOXDWLRQ 5HVHUYH

Designated funds: $FWLRQ )XQG 5HYROYLQJ )XQG /HJDF\ )XQG 3DUWQHUVKLS )XQG 3URMHFWV )XQG Strategic 'HYHORSPHQW )XQG

Prior year:

Balance 1 January

£000

,QFRPH £000

Balance 1 January

£000

,QFRPH £000

Total

Unrestricted funds: *HQHUDO )XQG 5HYDOXDWLRQ 5HVHUYH

Designated funds: $FWLRQ )XQG 5HYROYLQJ )XQG /HJDF\ )XQG 3DUWQHUVKLS )XQG 3URMHFWV )XQG Strategic 'HYHORSPHQW )XQG

World Land Trust 48

([SHQGLWXUH 7UDQVIHUV £000 £000

Year ended 31 December 2020

Notes to the accounts 23. Analysis of unrestricted and designated (continued) Unrestricted funds description: The General Fund represents the working FDSLWDO DQG RSHUDWLQJ ࢉ[HG DVVHWV RI WKH JURXS DQG LV DQDO\VHG LQ QRWH 7KH 5HYDOXDWLRQ 5HVHUYH UHSUHVHQWV WKH PRYHPHQW RQ UHYDOXLQJ the property to deemed cost under the transitional arrangements allowed by FRS 102.

Designated funds description: 7KH $FWLRQ )XQG LV D GHVLJQDWHG IXQG WR SURYLGH IXQGLQJ IRU FRQVHUYDWLRQ ZRUN ZKHUH LW LV PRVW urgently needed or where we are unable to raise funds through appeals or other sources, allowing the Trust to react to the changing circumstances faced by our partners. We DFWLYHO\ VSHQG IXQGV ZLWKLQ WZHOYH PRQWKV 5HJXODU JLYHUV GRQDWLRQV DUH HDUPDUNHG WR WKLV fund allowing replenishment on an ongoing EDVLV WR VXSSRUW RQJRLQJ FRQVHUYDWLRQ ZRUN ,Q ZH VSHQW e . DQG WUDQVIHUUHG e . to support programme work. At the end of WKH 7UXVWHHV DSSURYHG e . IURP WKH General Fund to support programme work in 2021 to enable us to continue to support critical FRQVHUYDWLRQ ZRUN WKDW ZH PLJKW QRW EH DEOH WR raise funds through appeals or other sources of fundraising.

7KH 5HYROYLQJ )XQG LV D GHVLJQDWHG IXQG WR SURYLGH IXQGLQJ IRU XUJHQW FRQVHUYDWLRQ projects for which the Trust has yet to raise funds through an appeal or from other sources.

7KH 7UXVW SURYLGHV IXQGLQJ WR WKH SDUWQHUV WR XQGHUWDNH FRQVHUYDWLRQ ZRUN LQ OLHX RI IXWXUH IXQGV FRPLQJ LQ 'XH WR WKH YDU\LQJ QDWXUH of the projects or programmes supported the timeframe for disbursement of the fund and subsequent repayment thereby allowing new SURMHFW DQG SURJUDPPH VXSSRUW YDULHV RQ DQ LQGLYLGXDO SURMHFW DQG SURJUDPPH EDVLV The Legacy Fund represents unrestricted OHJDF\ LQFRPH UHFHLYDEOH ZKLFK ZLOO EH GLVEXUVHG WR VXSSRUW FRQVHUYDWLRQ SURMHFWV DQG programmes of the Trust. This fund includes legacies that are accrued and are included in debtors on the balance sheet. The Trust

DFWLYHO\ GLVEXUVHV IXQGV ZKHQ DSSURSULDWH SURMHFWV RU SURJUDPPHV DUH LGHQWLࢉHG 'XULQJ ZH e PLOOLRQ WR VXSSRUW FRQVHUYDWLRQ SURJUDPPHV :H DQWLFLSDWH that funds will be expended within a two year period but recognise that some legacies take an appreciable amount of time from initial recognition to completion of the legacy.

7KH 3DUWQHUVKLS )XQG LV IRU PHHWLQJ WKH WUDYHO DQG VXEVLVWHQFH FRVWV RI YLVLWV IURP RYHUVHDV partners and Symposium costs. The fund was fully expended in 2020 for the symposium in Guatemala.

7KH 3URMHFWV )XQG UHSUHVHQWV XQUHVWULFWHG IXQGV DSSURYHG E\ WKH 7UXVWHHV WR VXSSRUW VSHFLࢉF FRQVHUYDWLRQ SURJUDPPHV 7KH 7UXVW KDV EHHQ IRUWXQDWH WR EHJLQ UHFHLYLQJ XQUHVWULFWHG income, particularly legacy, and this has enabled the organisation to be able to fund NH\ SURMHFWV ZKLFK PLJKW RWKHUZLVH QRW KDYH been supported. The remaining funds will be GLVEXUVHG RYHU WZR \HDUV 7KH 6WUDWHJLF 'HYHORSPHQW )XQG LV D GHVLJQDWHG IXQG WR SURYLGH IXQGLQJ IRU WKH LQYHVWPHQW and growth of the Trust. During 2020 the Trust expended £50,000 in engaging the support of H[WHUQDO FRQVXOWDQWV WR FRPPHQFH WKH UHYLHZ RI D UHYLVHG &50 V\VWHP HQJDJHPHQW ZLWK DQ DJHQF\ WR VXSSRUW WKH GHYHORSPHQW RI UHJXODU JLYLQJ RࢆHULQJ WR GRQRUV GHYHORSPHQW RI DQ LPSURYHG GRQRU MRXUQH\ H[SHULHQFH RQ WKH website and other external consultant support for organisational growth. At the end of 2020 WKH 7UXVWHHV DSSURYHG IXUWKHU IXQGV WR EH WUDQVIHUUHG LQWR WKH 6WUDWHJLF 'HYHORSPHQW Fund from the General Fund to support the FRQWLQXHG IXWXUH LQYHVWPHQW LQ WKH ZRUN IRU WKH 7UXVW LQFOXGLQJ WKH FRQWLQXHG GHYHORSPHQW DQG LPSOHPHQWDWLRQ RI D UHYLVHG &50 V\VWHP H[SHFWHG GXULQJ DQG LQYHVWPHQW LQ WKH GHYHORSPHQW RI RXU UHJXODU JLYLQJ RࢆHULQJ to donors (expected in late 2021 after a pilot campaign in Summer 2021), IT infrastructure for hybrid working and other infrastructure GHYHORSPHQW ZRUN H[SHFWHG RYHU

worldlandtrust.org

49

Notes to the accounts Analysis of Transfers between Funds:

Note

Transfer from General Fund Transfers from Action Fund Transfers from Legacy Fund 7UDQVIHUV IURP &RPPLWWHG 3URMHFW )XQG Transfer between Strategic 'HYHORSPHQW )XQG DQG *HQHUDO )XQG

2WKHU WUDQVIHUV

1 2 3

Unrestricted £000 (322)

Designated £000 322 (1,039) (1,031)

Restricted £000 1,039 1,031

Notes for 2020 $ WUDQVIHU ZDV DSSURYHG IURP *HQHUDO )XQG WR $FWLRQ )XQG WR SURYLGH DGGLWLRQDO IXQGLQJ WR VXSSRUW IXWXUH FRQVHUYDWLRQ SURMHFWV 7UDQVIHUV ZHUH PDGH WR D YDULHW\ RI UHVWULFWHG SURMHFWV DV WKH\ ZHUH VXLWDEO\ LGHQWLࢉHG GXULQJ 2020.

3. Transfers were made to restricted projects as they ZHUH VXLWDEO\ LGHQWLࢉHG GXULQJ LQFOXGLQJ VLJQLࢉFDQW ODQG SXUFKDVHV LQ %HOL]H e N DQG *XDWHPDOD e .

7UDQVIHUV ZHUH PDGH WR PDWFK SD\PHQWV H[SHQGHG GXULQJ VXSSRUWLQJ FRQVHUYDWLRQ

SURJUDPPHV LQ 3HUX DQG $UJHQWLQD $ WUDQVIHU RI e . ZDV PDGH IURP *HQHUDO )XQG WR VXSSRUW WKH GHYHORSPHQW RI IXWXUH LQFRPH DQG LQIUDVWUXFWXUH GHYHORSPHQW IRU WKH 7UXVW e . ZDV WUDQVIHUUHG WR *HQHUDO )XQG WR PDWFK expenditure in 2020.

7UDQVIHUV ZHUH PDGH WR VXSSRUW D YDULHW\ RI UHVWULFWHG FRQVHUYDWLRQ SURMHFWV DQG DQ DOORFDWLRQ of legacy funding taken to General Fund in line with the deceased’s wishes to support the core FRVWV RI WKH FKDULW\ e .

Prior year

Unrestricted £000

Designated £000

(1,373)

Restricted

7UDQVIHUV IURP $FWLRQ )XQG Transfers from Legacy Fund 7UDQVIHUV IURP &RPPLWWHG 3URMHFW )XQG Transfer between Strategic 'HYHORSPHQW )XQG DQG *HQHUDO )XQG 2WKHU WUDQVIHUV

Note £000

2

1,373

Notes for 2019 7UDQVIHUV ZHUH PDGH WR D YDULHW\ RI UHVWULFWHG SURMHFWV DV WKH\ ZHUH VXLWDEO\ LGHQWLࢉHG GXULQJ 2019.

2. Transfers were made to restricted projects as they ZHUH VXLWDEO\ LGHQWLࢉHG GXULQJ LQFOXGLQJ V LJQLࢉFDQW ODQG SXUFKDVHV LQ *XDWHPDOD e N

&RORPELD e .

(FXDGRU e .

DQG %UD]LO e .

3. Transfers were made to match payments H[SHQGHG GXULQJ VXSSRUWLQJ FRQVHUYDWLRQ SURJUDPPHV LQ 3HUX World Land Trust 50

Year ended 31 December 2020

7UDQVIHUV WRWDOOLQJ e . ZDV DOORFDWHG WR *HQHUDO Fund to match expenditure in 2019 including the costs of recruiting a new CEO. 7UDQVIHUV ZHUH PDGH WR VXSSRUW D YDULHW\ RI UHVWULFWHG FRQVHUYDWLRQ SURMHFWV LQFOXGLQJ 0RXQW .HQ\D :DWHU SURMHFW e .

ODQG SXUFKDVH LQ &RORPELD e .

DQG VXSSRUW IRU ODQG DFTXLVLWLRQ DQG PDQDJHPHQW LQ $UPHQLD e .

Notes to the accounts 24. Analysis of restricted funds Balance 1 January

£000

,QFRPH £000

([SHQGLWXUH £000

-

-

(9)

9

-

-

By country:

$UJHQWLQD Armenia Belize %ROLYLD %RUQHR %UD]LO &DPHURRQ &RORPELD (FXDGRU *XDWHPDOD +RQGXUDV ,QGLD .HQ\D 0H[LFR 3DUDJXD\ 3DWDJRQLD 3HUX 3KLOLSSLQHV 7DQ]DQLD Venezuela 9LHWQDP =DPELD 8.

6

2

(229) (759)

(10)

229 751

10

6SHFLࢉF SURMHFWV Big Match/ $XWXPQ $SSHDO %X\ DQ $FUH &DUERQ .HHSHUV RI WKH :LOG :LOGࢉUH $SSHDO 3ODQW D 7UHH Other

Total

Balance Net gains/ 31 December 7UDQVIHUV ORVVHV

£000 £000 £000

worldlandtrust.org

51

Notes to the accounts 24. Analysis of restricted funds (continued) Prior year:

6SHFLࢉF SURMHFWV %LJ 0DWFK $SSHDO %X\ DQ $FUH &DUERQ .HHSHUV RI WKH :LOG 3ODQW D 7UHH Other

Balance 1 January

£000

,QFRPH ([SHQGLWXUH £000 £000

7UDQVIHUV £000

Balance Net gains/ 31 December ORVVHV

£000 £000

1

1

(9)

7

-

-

(335)

5

(190)

526

6

Total

By country: $UJHQWLQD $UPHQLD Belize %ROLYLD %RUQHR %UD]LO &RORPELD (FXDGRU *XDWHPDOD +RQGXUDV ,QGLD .HQ\D 0H[LFR 3DUDJXD\ 3DWDJRQLD 3HUX 3KLOLSSLQHV Tanzania 9HQH]XHOD 9LHWQDP =DPELD 8.

World Land Trust 52

Year ended 31 December 2020

Notes to the accounts 24. Analysis of restricted funds (continued) Description of funds: 7KH DERYH IXQGV OLVWHG E\ FRXQWU\ UHSUHVHQW IXQGV UHFHLYHG VSHFLࢉFDOO\ IRU FDUU\LQJ RXW FRQVHUYDWLRQ ZRUN ZLWKLQ WKRVH DUHDV 6SHFLࢉF SURMHFWV DUH GHWDLOHG EHORZ Buy an Acre is for land acquisition in countries where we can secure land for approximately £100 per acre. &DUERQ UHFHLYHV GRQDWLRQV IURP LQGLYLGXDOV WR support our carbon sequestration projects. The IXQG LV LQ GHࢉFLW DW WKH HQG RI EXW IXWXUH donations in 2021 are anticipated to clear this balance.

7KH .HHSHUV IXQG LV LQ GHࢉFLW DW WKH HQG RI 2020. This was due to recognition of 2021 funding DSSURYHG E\ WKH 7UXVWHHV LQ 'HFHPEHU Donations to support this programme will be raised in 2021. )XQG EDODQFH IRU 3ODQW D 7UHH LV LQ GHࢉFLW DW WKH end of 2020. This was due to recognition of 2021

• •

•

•

•

•

•

IXQGLQJ DSSURYHG E\ WKH 7UXVWHHV LQ 'HFHPEHU 2020. Donations to support this programme will be raised in 2021.

7KH %ROLYLD IXQG KDV D GHࢉFLW EDODQFH DW WKH HQG RI 2020. This arose due to future funding commitments being recognised at the end of DQG ZH ZLOO VHHN WR UDLVH IXQGV WR FRYHU WKH programme costs in 2021.

7KH ,QGLD IXQG KDV D GHࢉFLW EDODQFH DW WKH end of 2020. This arose due to a 5 year funding commitment made to support project work in 2020 to the partner. We will seek to raise the IXQGV GXULQJ WKURXJK D YDULHW\ RI GRQRU ZKR are interested in supporting India.

7KH 7DQ]DQLD IXQG KDG D GHࢉFLW EDODQFH DW WKH HQG of 2020. Funding for this programme will be UDLVHG LQ YLD D VSULQJ DSSHDO DQG WKH GHࢉFLW will be cleared.

25. Analysis of endowment funds Balance 1 January

£000

,QFRPH £000

([SHQGLWXUH £000

6DQ 5DIDHO )XQG 8. ȁ .LWHV +LOO

Prior year:

6DQ 5DIDHO )XQG 8. ȁ .LWHV +LOO

Balance 1 January

£000

,QFRPH £000

([SHQGLWXUH £000

Balance Net gains/ 31 December 7UDQVIHUV ORVVHV

£000 £000 £000

Balance Net gains/ 31 December 7UDQVIHUV ORVVHV

£000 £000 £000

Description of funds: 1. The San Rafael Fund, an expendable endowment, ZDV VHW XS ZLWK PLOOLRQ IURP &RQVHUYDWLRQ International in 2013 and is represented by Fixed $VVHW ,QYHVWPHQWV 7KH IXQG LV DYDLODEOH IRU WKH operational running costs of the San Rafael

UHVHUYH LQ 3DUDJXD\

8 . ȁ .LWHV +LOOV UHSUHVHQWV D SHUPDQHQW endowment of land owned by WLT in Gloucestershire which was gifted as a legacy.

worldlandtrust.org

53

Notes to the accounts 26. Analysis of group net assets between funds General £000

Designated £000

As restated Restricted Endowment £000 £000

As restated 2019 Total £000

7DQJLEOH ࢉ[HG DVVHWV

,QWDQJLEOH ࢉ[HG DVVHWV

,QYHVWPHQWV

&DVK DW EDQN DQG LQ KDQG

2WKHU QHW DVVHWV OLDELOLWLHV

&UHGLWRUV IDOOLQJ GXH DIWHU RQH \HDU

Prior year:

General £000 7DQJLEOH ࢉ[HG DVVHWV

,QWDQJLEOH ࢉ[HG DVVHWV

,QYHVWPHQWV

&DVK DW EDQN DQG LQ KDQG

2WKHU QHW DVVHWV OLDELOLWLHV

&UHGLWRUV IDOOLQJ GXH DIWHU RQH \HDU

Restricted Endowment £000 £000

Designated £000

27. Reconciliation of net income/(expenditure) WR FDVK ࢊRZ IURP RSHUDWLQJ DFWLYLWLHV

Net income/(expenditure) for the year Adjustments for: Amortisation charges Depreciation charges *DLQV ORVVHV RQ LQYHVWPHQWV 'LYLGHQGV UHFHLYHG

,QWHUHVW UHFHLYDEOH

,QWHUHVW SD\DEOH

Decrease in stock 'HFUHDVH LQFUHDVH LQ GHEWRUV ,QFUHDVH LQ FUHGLWRUV

Net cash provided/(used in) by operating Activities

World Land Trust 54

Year ended 31 December 2020

2020 Total £000

Group 2020 £000

As restated 2019 £000

19

22

1

Notes to the accounts •

3ULRU \HDU DGMXVWPHQW )ROORZLQJ D UHYLHZ RI WKH DFFRXQWLQJ WUHDWPHQW RI grant recognition, the charity has made the decision WR FKDQJH LWV DFFRXQWLQJ SROLF\ WR EHWWHU UHࢊHFW WKH substance of its commitments. Consequently, the charity has made a prior year adjustment to more FOHDUO\ UHࢊHFW ZKHQ JUDQWV DUH FRPPLWWHG WR RXU RYHUVHDV SDUWQHUV 3UHYLRXVO\ JUDQWV WR RYHUVHDV partners were only recognised where there was D OHJDO REOLJDWLRQ RU LI DSSURYDO RI WKH JUDQW DQG communication to the partner occurred prior to \HDU HQG 8QGHU WKH UHYLVHG DFFRXQWLQJ SROLF\ JUDQWV DUH UHFRJQLVHG DV D FRQVWUXFWLYH REOLJDWLRQ and therefore a liability, where the following conditions arise.

•

ZKHUH DSSURYDO RI WKH JUDQW DQG communication to the partner occur prior to year-end and there is an established practice LQGLFDWLQJ :/7 ZLOO IXOࢉO LWV FRPPLWPHQW 7KLV relates to where the charity has a longer-term UHODWLRQVKLS ZLWK DQ RYHUVHDV SDUWQHU DQG KLVWRULF SUDFWLFH LV WKDW WKH FKDULW\ KDV IXOࢉOOHG grant funding requirements and not withdrawn IXQGLQJ DW D ODWHU GDWH RU ZKHUH DSSURYDO RI WKH JUDQW DQG communication to the partner occur prior to year-end and payment is within three months as it is considered that this indicates that the conditions were out of the control of the charity at the year end and therefore a liability has been created.

7KH LPSDFW RI WKH FKDQJH LQ DFFRXQWLQJ SROLF\ RQ WKH ࢉJXUHV ZLWKLQ WKH ࢉQDQFLDO VWDWHPHQWV FDQ EH VXPPDULVHG DV IROORZV £’000 ,QFUHDVH LQ H[SHQGLWXUH RQ 62)$ Increase in grant coPPLWPHQWV LQ FUHGLWRUV Reduction in restricteG IXQGV

2020

2019

2018

7KLV FKDQJH LQ DFFRXQWLQJ SROLF\ KDV UHVXOWHG WKH IROORZLQJ EDODQFHV EHLQJ UHVWDWHG DV IROORZV £’000 5HVWULFWHG IXQG EDODQFHV SUHYLRXVO\ UHSRUWHG Additional grant expenditure recognised

Restricted fund balances as restated

2019

(316)

2018

(179)

449

496

6XUSOXV GHࢉFLW SUHYLRXVO\ UHSRUWHG

5HYHUVDO RI JUDQW H[SHQGLWXUH DULVLQJ IURP SULRU \HDU restatement

'HࢉFLW VXUSOXV DV UHVWDWHG

(225)

82

(316)

(179)

(541)

(97)

Additional grant expenditure recognised as a prior year adjustment on fund balances brought forward 'HࢉFLW DIWHU FXUUHQW \HDU SULRU \HDU DGMXVWPHQW

29. Legal status of the Trust :/7 LV D FRPSDQ\ OLPLWHG E\ JXDUDQWHH DQG KDV QR VKDUH FDSLWDO ,Q WKH HYHQW RI WKH FKDULW\ EHLQJ ZRXQG up, the liability in respect of the guarantee is limited to £10 per member of the charity.

worldlandtrust.org

55

Notes to the accounts 30. Operating leases (Group and Charity)

Equipment

Total commitments in relation to operating leases expiring are as follows: Within one year :LWKLQ WZR WR ࢉYH \HDUV

2020 £000

2019 £000

1

2

&RPSDUDWLYH VWDWHPHQW RI ࢉQDQFLDO DFWLYLWLHV (31 December 2019)

Unrestricted Funds £’000

Restricted Funds £’000

Endowment Funds £’000

As restated Total 2019 £’000

5,441 168 24 59 4

2,672

3,009

15

5,696

Expenditure Raising funds &KDULWDEOH DFWLYLWLHV

Land acquisition 5HVHUYH PDQDJHPHQW

Reforestation 3DUWQHUVKLSV DQG FRPPXQLFDWLRQV

167

332

271

3,371

606

6

444 3,703 1,088 606 208

Total expenditure

6,049

1HW JDLQV ORVVHV RQ LQYHVWPHQWV

235

Net income/(expenditure)

(118)

7UDQVIHU EHWZHHQ IXQGV

-

(95)

9

(21)

(107)

,QFRPH 'RQDWLRQV DQG OHJDFLHV &KDULWDEOH DFWLYLWLHV 2WKHU WUDGLQJ DFWLYLWLHV ,QYHVWPHQW LQFRPH 2WKHU

Total income

Other gains/(losses) Net movement in funds

(225)

Reconciliation of funds 7RWDO IXQGV EURXJKW IRUZDUG 3ULRU \HDU DGMXVWPHQW

5,890 (179)

Total funds brought forward as restated

5,711

Total funds carried forward as restated 3ULRU \HDU DGMXVWPHQW

5,486 (316)

Total funds carried forward as restated

5,170

World Land Trust 56

Year ended 31 December 2020

List of Council members :/7 LV IRUWXQDWH WR KDYH D &RXQFLO ZKLFK SURYLGHV DGYLFH DQG JXLGDQFH WR WKH 7UXVWHHV &RXQFLO members are appointed by the Trustees, and DGYLVH 7UXVWHHV DQG WKH ([HFXWLYH RQ FRQVHUYDWLRQ fundraising, marketing and communications and other matters useful to WLT. 7KH &RXQFLO FRPSULVHV 7UXVWHHV +RQRUDU\ RࢇFHUV Committee members and other appointed LQGLYLGXDOV &RXQFLO PHPEHUV DORQJ ZLWK 7UXVWHHV DQG +RQRUDU\ 2ࢇFHUV DUH 0HPEHUV RI WKH &KDULW\

During 2020 the Council comprised the following LQGLYLGXDOV H[FOXGLQJ 7UXVWHHV DQG 2ࢇFHUV Albertino Abela Myles Archibald (retired, 9 December 2020) Dr Simon Barnes Dr Iain Barr Mark Carwardine .HYLQ &R[ Dr Lee Durrell Dr Simon Lyster Nigel Massen Bill Oddie 5LFKDUG 3RUWHU George Sawtell 0LUDQGD 6WHYHQVRQ Dr Nigel Simpson

worldlandtrust.org

57

List of project partners Africa

Central and South America

(QYLURQPHQW DQG 5XUDO 'HYHORSPHQW )RXQGDWLRQ &DPHURRQ $FWLYH

.DVDQND 7UXVW =DPELD

1DWXUH .HQ\D .HQ\D

7DQ]DQLD )RUHVW &RQVHUYDWLRQ *URXS 7DQ]DQLD

:LOGOLIH DQG (QYLURQPHQWDO 6RFLHW\ RI =DPELD

Central and South America $VRFLDFLµQ $UPRQ¯D %ROLYLD

$VRFLDFLµQ &LYLO 3URYLWD 9HQH]XHOD

Asociación Ecológica de San Marcos de Ocotepeque (Honduras) &RUR]DO 6XVWDLQDEOH )XWXUH ,QLWLDWLYH %HOL]H

)XQGDFLµQ %LRGLYHUVD &RORPELD &RORPELD

)XQGDFLµQ %LRGLYHUVLGDG $UJHQWLQD $UJHQWLQD

Fundación EcoMinga (Ecuador) )XQGDFLµQ *XDQDFDV &RORPELD $FWLYH

Fundación Jocotoco (Ecuador) Fundación Melimoyu (Chile) )XQGDFLµQ 1DWXUD %ROLYLD %ROLYLD

Fundación Naturaleza para el Futuro (FuNaFu) (Argentina) )XQGDFLµQ SDUD HO (FRGHVDUUROOR \ OD &RQVHUYDFLRQ (Guatemala) )XQGDFLµQ 3DWDJRQLD 1DWXUDO $UJHQWLQD

)XQGDFLµQ 3UR %RVTXH (FXDGRU

Grupo Ecológico Sierra Gorda (Mexico) *X\UD 3DUDJXD\ 3DUDJXD\

1DWXUD $UJHQWLQD $UJHQWLQD $FWLYH

1DWXUDOH]D 7LHUUD \ 9LGD 1$7,9$ %ROLYLD

Naturaleza y Cultura internacional Ecuador (Ecuador) 1DWXUDOH]D \ &XOWXUD 3HUX 3HUX

Naturaleza y Cultura Sierra Madre (Mexico) 1DWXUDOLD &RPLW« SDUD OD &RQVHUYDFLµQ GH (VSHFLHV 6LOYHVWUHV 0H[LFR

3URJUDPPH IRU %HOL]H %HOL]H

5HVHUYD (FRORJLFD GH *XDSLDFX %UD]LO

Africa $SSOLHG (QYLURQPHQWDO 5HVHDUFK )RXQGDWLRQ ,QGLD

)RXQGDWLRQ IRU WKH 3UHVHUYDWLRQ RI :LOGOLIH DQG Cultural Assets (Armenia) Hutan (Malaysia) Iranian Cheetah Society (Iran) 9LHW 1DWXUH &RQVHUYDWLRQ &HQWUH 9LHWQDP

Wildlife Trust of India (India) 3KLOOLSLQH 5HHI DQG 5DLQIRUHVW /($3

UK 7KH &RQVHUYDWLRQ 9ROXQWHHUV

World Land Trust 58

Year ended 31 December 2020

© Fundación Jocotoco

World Land Trust Blyth House Bridge Street Halesworth Suffolk IP19 8AB, UK Tel: 01986 874422 Fax: 01986 874425 Email: info@worldlandtrust.org

worldlandtrust.org

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