Approved accounts for the year ended 31 March 2024

The Verderers of the New Forest Higher Level Stewardship Scheme

Statement of accounts

for the year ended 31 March 2024

Contents

1 The Verderers of the New Forest Higher Level Stewardship Scheme

Scheme details

Scheme name:

The Verderers of the New Forest Higher Level Stewardship Scheme

Number:

AG00350016

For the year to

31 March 2024

Board Voting Members

• Verderers of the New Forest
• New Forest National Park Authority
• Forestry England

Non-voting Members

• Natural England Hants & IOW
• Commoners Defence Association

The Verderers of the New Forest have entered into an agreement with Natural England to carry out environmental land management and capital works in the New Forest.

The objectives of the HLS Scheme will be implemented by a partnership of the Verderers of the New Forest, The New Forest National Park Authority and Forestry England.

Financial Review

The Scheme has an (deficit)/excess of income over expenditure for the year of £(82,262) (2023: 15 months £60,710). The Scheme’s assets and liabilities are reflected in the balance sheet on page 3.

2 The Verderers of the New Forest Higher Level Stewardship Scheme

Income and Expenditure Account

For the year ended 31 March 2024

3 The Verderers of the New Forest Higher Level Stewardship Scheme

General Fund Balance Sheet

As at 31 March 2024

The notes on page 4 form part of these financial statements.

Approved on 30 October 2024 and signed on behalf of the Board of the Verderers of the New Forest Higher Level Stewardship Scheme by

Edward Heron

Official Verderer

4 The Verderers of the New Forest Higher Level Stewardship Scheme

Notes to the accounts

For the year ended 31 March 2024

1 Accounting policies

Basis of preparation

The accounts are prepared under the historical cost convention.

Income

Income from Natural England is recognised in the period to which the Scheme relates. Grants received after the period end that relate to the scheme period are reflected in income as accrued income. Any income (allocated from the period’s grant) that relates to project expenditure incurred after the period end is included in creditors as deferred income. Any unallocated income is carried forward in accumulated fund. Any other income is recognised when receivable.

Expenditure

Expenditure is accounted for on the accruals basis and is recognised in the period the costs are incurred by the scheme and the project partners. Any costs not paid or paid to third parties or reimbursed to the partners before the period end are accrued and included in creditors and accruals.

2 Related party transactions

New Forest National Park Authority and Forestry England are partners to the Scheme. Each partner manages a number of projects and is reimbursed by the Verderers for the expenditure incurred. Amounts paid or payable to the parties were as follows:

The amounts payable included in the above are separately disclosed in the balance sheet.

Amounts paid to individual Verderers from the Verderers’ Grazing Scheme totalled £9,304 in the year.

5 The Verderers of the New Forest Higher Level Stewardship Scheme

Accountants Report on the unaudited statement of accounts for the year ended 31 March 2024

In accordance with the letter of engagement letter we have compiled the financial information of the Verderers of the New Forest Higher Level Stewardship Scheme for the year ended 31 March 2024 from the accounting records and information and explanations you have given us.

The financial information has been compiled on the accounting basis set out in note 1 and is not intended to achieve full compliance with United Kingdom generally accepted accounting policies.

Our report has been prepared under the terms of our engagement with the Board of HLS and for no other purpose. No person is entitled to rely on this report other than the Board of HLS or any person expressly authorised to do so by our prior written consent. Save as above, we do not accept responsibility for the report to any other person or for any other purpose and we hereby expressly disclaim any and all such liability.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute.

You have approved the financial information and have acknowledged your responsibility for it, for the appropriateness of the accounting policies adopted and for providing all information and explanations necessary for its compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information.

Date 5 November 2024

PKF Francis Clark is the trading name of Francis Clark LLP, a limited liability partnership registered in England and Wales (registered number OC349116)