Final accounts for the year ended 31 March 2025

Summary

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Financial statements for the Verderers of the New Forest Higher Level Stewardship Scheme (AG00350016) for the year ended 31 March 2025. The scheme is an agreement with Natural England to deliver environmental land management and capital works through a partnership of the Verderers, the New Forest National Park Authority, and Forestry England, with other stakeholders involved. Total income was £2,044,850, mainly the annual Natural England entitlement of £2,033,099, plus £11,751 of commons payments. Total expenditure was £2,438,254, largely project costs managed by Forestry England (£1,034,771) and the Verderers (£1,266,854), plus £107,559 managed by the National Park Authority and £29,070 of administrative costs. The year ended with a deficit of £393,404 (2024: £82,262). Net scheme assets at 31 March 2025 were £1,744,246, with £2,376,622 cash and £640,936 current liabilities, including £519,824 due to Forestry England.
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THE VERDERERS OF THE NEW FOREST

HIGHER LEVEL STEWARDSHIP SCHEME

Reference AG00350016 “The HLS Scheme”

Statement of Accounts for the year ended
31 March 2025

Contents

Item Page
1 Scheme details 1
2 Income and expenditure account 2
3 Balance sheet 3
4 Notes to the accounts 4
5 Independent accountants’ report 5

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 2025
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 (£393,404) (2024 (£82,262)). 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 2025

2025 (£) 2024 (£)
Income
Income from Natural England – annual entitlement 2,033,099 2,030,699
Other income - -
Commons payments to 2023 VGS – Wellow PC - 2,910
Commons payments to 2023 VGS – Minstead Estate - 3,395
Commons payments to 2023 VGS – Hampshire County Council - 10,292
Commons payments to 2023 VGS – National Trust - 90,000
Commons payments to 2023 VGS – Total - 106,597
Commons payments to 2024 VGS – Wellow PC 2,910 -
Commons payments to 2024 VGS – Minstead Estate 3,395 -
Commons payments to 2024 VGS – Hampshire County Council 5,446 -
Commons payments to 2024 VGS – National Trust - -
Commons payments to 2024 VGS – Total 11,751 -
Total income 2,044,850 2,137,296
Expenditure
Forestry England managed project expenditure – Annual programme 1,034,771 876,298
New Forest National Park Authority managed project expenditure 107,559 138,463
Verderers managed project expenditure 1,215,272 1,125,507
Verderers managed project expenditure – Commons 51,582 51,850
Total project costs 2,409,184 2,192,118
Administrative costs
Administration charge from Forestry England 26,430 25,100
Independent Accountant’s Fee 2,640 2,340
Total administrative costs 29,070 27,440
(Deficit)/Surplus for the year (393,404) (82,262)

The Verderers of the New Forest Higher Level Stewardship Scheme

Notes to the accounts

For the year ended 31 March 2025

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 few projects and is reimbursed by the Verderers for the expenditure incurred. Amounts paid or payable to the parties were as follows:

1 April 2024 to 31 March 2025 (£) 1 April 2023 to 31 March 2024 (£)
Forestry England 1,061,201 901,398
New Forest National Park Authority 107,559 138,463

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 £14,218 in the year.

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