Regisièrèd nurnber= 02834975 Ch•rity numbor.. 1023929 PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 111 *ACIPIPTK* 1W1212023 C(XAPANIES H¢JJSE Al8 PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Lwnited by Guarantee) CONTENTS Pagè Reference and Adrninlstratfjve Detsils of Iht Ch•rlty. its Trustees and Advlsers Trust*es' Rtport Independènt Auditors. Report on the Financial Statements Consolidated Statement of Financial Activities 2-12 13. 17 18 Consolidated Balance Sheet Charity Balance Sheet consolidated Statement of cash Flo*Y 23 Notes to th$ Financial Statements 24.S3 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaranteol REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees T Wi111son. Chair P Brolhenon S Trewhella C W*ker-Harrison L Knudson Iresi9ned 29 August 20231 G Wright J Cole P Hansen N Moyo (resigned 22 JaThJary 2023} A SLrthertan company r•glst•r•d number 02834975 Charity r89i$tered number 1023929 RegiSt•r•d offic• Ham Lane House Ham Lane Orton Waierville Peterbortsugh PE2 5UU Company s•cr•tsry A Suthedand Chief e¥e¢utive officer C Leonard (resigned 29 July 20221 S Da¥b*s (appointed 29 Juty 20221 Ind•pen(l•nt auditors Sireets AudTI LLP Chartered A¢counlant5 and Stabjlory Audrtors 38 Tynd311 Court Commeree Road Lynch WrM)¢ Peterborough Cambfid9eshire PE2 6LR 8anker¥ Natsonal Westminster Bank PLC PO BOX 15 Cathedral Square Peiertx)rough Cambridgeshire PEI IHW Solicitors Hegarty LLP 48 Broadway Peterboiough Cambridgeshire PE1 1YW Pag8 1 PETeRBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trvsiees present Iheii annu31 report iogether v*ilh the au&ied financial statements of the C17anty lor the year 1 Ap¥il 2022 10 31 March 2023. The Annual Report serves the purpose5 01 both a Trustees, report and dire¢tors' report undef Company law. The Tcystees confimi that the Annual Report and financial statements of the thJriiable company comply with the current Stalutory reguiremenis. thE Tequiremenls of the chèriiable cornpany's governing document and the provisions ol the Sialement of Recommended Practice ISORPI applicable lo charilies prepanng Iheir accounts In accordance wflh the Finanual Reportlllg Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since Ihe grow and the Chanty qualify as small un(ler section 383 of the Companies Act 2006. the Group Strategic Report required of medium and L8r9e companies under Ihe Companies Act 2006 Istralegic Report and Directors. Reportl Regulab"¢)n$ 2013 has been omitted. Obje¢tiv•s and a¢iivitiqs a. Policie5 and objective5 Our chzrity's purpose, as set out in Ihe objects contained in Ihe Memorandum of A$s￿l8t10n are lo advance the education ol Ihe public and promote involvemeni in all matters concerning enwronmenlal Conservation and to ' preserve, protect and enhance the environment pnrnarily wthin the Peterborough area and elsewhere. The charity's vision is StJslainat4e Places. The ¢harity'$ mission 13 tg proted and enhance the enviroimenl throu9houl Pelerborou9h and be￿d. PECT aims to help preserve, protect and enhanee the environment. We want lo wnprove people's qually of life by ra15ing awareness of environmental issues and nurturirng behaviour chan9e. Our vision is for Sustainable Places and we aim 19 make a real difference fw pewe and planei. PECT'S wortc covers four key areas. The Natural Environment- We recogni5e that b￿1verSitY and access lo nature has a muhilude of Iherapeulic. social and heath benefits. Community & Education- We charnp￿n tonnecled ¢omrnunilies and people bein9 involved in Iheir l¢xal area to prevent social isolab"on. RespOnsi￿e Resource Use- To create a su$r¥nable lutUTe we need lo ensure that every individual and organisation is living wlhin the means ol our planet. We sw)port Innovative $olutrons for a smarter future. Heath & Wellbeing- We wani 10 encourage peoF4e lo become more active and to improve their wellbeing. Whether il's bookir¥J at Ihe food we eat. the ex¢r¢i5e we lake. how we travel, or the ¢on$umer hoices we rnake. b. StrategSes for achleving obl•¢tivès Our outcome5 are rewe￿d by slalf. the eoard and PAembers. These reviews look al what have achieved. if our V￿r￿ Is being delive￿￿ across all of our ovlcomes and 1den￿fyin9 Whe￿ Ihe gap$ are. In shaping our objective5 for the yeaf and [lann￿9 our aciiwtses. the Trustees have considered the Charily Comrnissions widance ¢)n Public Benefit. Page 2 PETERBOROUGH ENVIRONMENT CITY TRUST IA Cgrnpany Limited by Guarant￿1 TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 klARCH 2023 Objectives and activrties lcontinuedl c. Activities undertaken to ¥chie¥È obi•¢ti¥es In yndertaking any activity. it is imw1anl that foNow a set of core values as belovr. People- We have a strong and vibrant team who are c(*nmitted to SU51ainability Expert1se- We use knth￿edge and experience to design and deliver meaningful work wlh real impact. Change- We create sustainable plate$ Ihat are beiier for people and the en￿￿nment Together- We lake coiiabora*ve actw to creaie p9S￿"¥t change d. Main activiti•$ ￿dertakert io further the Charity's purposes for the publie benefit The main audiences for the year were". Business- Helpng businesses to become sustainabl8 through ￿SOurCe efficiency and educalk)n. Communities - Increasing acbon ansj support in Ihe communit*s through propcts that lead to healthier and suslzinable places for people and ihe environment. Education Providing SUPPOrt and re%)ur￿$ to schools. teache15 and sludents through oyr suslainabilrty focused education activity. A¢hi•vements p•rforrnance Key performance indicators This year, Pelerborough Environment City Trusi IPECT} has continued lo worft vthhin the 2020-2025 5trateglC plan The ddivery of several Europea) projects ha$ been a focus for the team. alongside also completing a range ol short- and lorng-te¥m Iniliatives. PECT deliver5 serwtes and contiacts [￿$ kKoiects in collaboration grant giving organisalions. businesses and cornmuni1*5. For the year ended 2023. tolal Incoming resources. both restricted an unrestricted fof the charity was £2.173.611 12022 - £1.651,3871 sthich was mainly funded through grants: contract5 and business consuttancy. but also from donations. rental and Investment income. E¥penditure lor the financial year iotallet1 £1.721.966 12022- £1.381.947I. Net income in the year was £461.645 12022- £269.4401. Closin9 reserves were £1,955.012 01 which £298.Od12 was restricled12022- £1.493.367 of which £344,666 was re$tricledl. The charity's policy to hold reserve5 suffKient tts ensure the continuance of projects and aetivilies. see further on in Ihis report for m(￿e details. The finarncial goal goin9 forward remains. in line vthh the stralegy. 10 generate intomt from a b%idei range of sources. fully covering operational and business development costs and genefatu)g a surplus to be reinvested. Page 3 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaramitel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR EIIDEO 31 MARCH 2023 Achi•v•mènts and ￿rtoM￿anc8 Icontinu•dl b. Review of a¢tivit*s The work of PECT is split across four themes: the natu￿1 enwronrnent, health and wellbeing. communilies and education and responsible resource use. This year PECT has tontinued lo develop nature based solutions and eomrnunty engagement through our work delivering tree planting and wder biodiversity improvement projects. These include Foresl for Pelerborough and John Clare Countryside vt&on, 84nes, P￿￿nating Pete￿rough and Caring for Nature. Our business focused adivity has increased wth a wder appreciation of the need lor all organi5ations lo make improvements lo their en¥ironmental performance. Oui Investors in the Environment accfediialion scheme has seen a large Increase in mernbership. We have continued to delive¥ resource elficiency support through Business Lincolnshire and ¢ehver the resource effiuency 9rants as part of the ERDF funded Eastern New Energy programme and South Eastern New Ener9y_ We have delivered circular economy activities %￿th local aythrwities. social enterpn5e5 an¢ conynunib'es through the Inlerreg prggramme BLUEPRINT. The project aims to assist the transition to a Circulaf Economy In Englancl and France. We have also launches a pilot programme. Bring It 8ack, looking at using reusable containers in various selb'ng. lo transition away from single use disposable packaging. We have also supported or9an15ations 10 reduce their impact thiou9h lower tarbon caterirng ch¢i¢es in the Interseg funded Cool Food Pro. t￿r environmèntal education senrice has r￿n￿nued to deveksp. have delivered another year of the Food Smart food and nutrth.on service th¥ough Cambridgeshire sthoo15. as well as proieet support Junior Forestefs. Our home energy support has increased in line Trmlh Ihe ¢halenging circumstances households find themselves in ¥1 relatio￿ to energy pi¢es arKI the inuease in cost ol liwng. We have also worked wth groups to inC￿8$e cyclin9, reduce isolation and increase undef51anding of food and cooking ski115. Environfflenial Education E¢0 Charter PECT'S Eco Charter sUPPOrts environmental educabon in schods.. encouraging o¥¢r 40.ODO students a year to think sustainably and colle¢lNely reduce their impact on the environment. We acl as a single point of Contact for sthoo15 and olher providers to faulilate a cdlabofalNe and coordinated approach to sustainable education. Funder." Individual Schools. East Cambrid9eshire Districi Counol, Fenland District Council Junior Forester Award The p¢ojeci offers schools the opportunity to take part in The Royal Fo￿$try Society's Junior Forester Award. The Forester award give5 young peopte an in5vJhl inlo a career in fore51ry a5 well as the practical ability lo assist In woodland mana9ement In their sthools and local Communiises. Funder. Ovllook Education Fund, via CambrKlgeshwe Communty FoundatK)n Healthy Schools.. Food Smèrt . PECT is working in partnership ￿th Everyone Health to supwrt prirnary sthools and early yeafs service5 10 aijopt a positive approach towafds nulnbon. Workin9 as part ol a wder 'Healthy Schools, pwrarnme. PECT aim5 to creaie environment5 that suP￿rt children and Ihew familie5 to Improve their well-being acr05S Pelerb(wough and Cambriégeshire. Funder." Everyone Health Page 4 PETERBOROUGH ENVIRONMENT ¢￿y TRVST IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achi•v¢m•nts and perfomian¢• Iconts"nued} NLOW Farm Twinning PECT are workin9 Wth Cambridgeshire ACRE and KKIS Country. to provide schools wth a number of resources lo enable them lo engage in pre and post learning to support fann ¥isits and be able lo create their own wld area5 Wthin their school grounds. Ensunn9 that after the visits have taken pla￿ leaming conilnues within their school around SU$13inability of our ￿)r1d. health and wellbeing ol leaming outdoors and the importance ol these Id spaces an¢Y kn"0 diversity in context 10 food p¥odudion in the area. Funder. Heritage Lottery Fund Natural Environment Forest lor Petèrborough PECT laun¢hed Forest lor Pelerborough in 2010 and aims lo planl over 230.000 tree5 in and around the city by 2030. We have currently plante¢J Over 135.000 tree5. working wth thousands of volunleers. Funders.. VirKlor. DEFRA Green R¢￿very Challenge Flmd. Cow*e Oonations. Individual Donations. Wildflower planting PECT is enhancing the natur￿ heritage ol Ihe city. Impro￿n9 its knodryergty and creating polh'nator-friendly aceas we'￿ working together with Buglife lo reverse the decline in pollinator numbers by creating a network of wil(Inower pathways (B-linesl. 11nking togethef existing habitsls in the city and raising awafeness of Ihe importance of MfiK1flower pL3nlins_ Fvnders". National Lotlery Heriiage Fvnd and Vindor John Clare Countryside celebrab.on of Nafvre As part of the John Clare Couniryside IJCCI projeci. PECT is wthing with parishe5 to develop nature recovery plans and Identify prqecls that would create new natu¥31 habilats or support Ihe management of existing ones. Along5i¢Je the 5UPPOrt to parishes ihe pioj.ed Is also workin9 Wth major land¢)wners in the area to support the doubling nature ambition. Funders". DEFRA Green Recovery Chalenge Fund, Natural EThJlant1. Lango¥ke Trust Caring lor Naturè Caring for Nature is a Skills Training wojecl that offers young people and adulls the opportunity lo gain wgrk experience in the envtronmental conservation sector. The project olters 6-week ¢our5es to unemployed adults and yovng people not In education or Iraining INEETSI. The project ollers participants the opportunrty to learn about and restore the natural environment in the proiecl a￿a. Funder. Fenland District Council Res nslb eUs# Invastors In the Enviry>nment liiEI Investors In ihe Environment IiiEI is PECT'S national environment31accreditat￿n scheme. It Is designed lo help organisalions save money. reduce their Impact on the environmeni. and 9et promoted for their green edentials. iiE h85 gone Irom strength to stren9th. offering a ￿de range of environrnenlal training and online webinars to Ils members. Businèss Support Programmfjs PECT has delivered a range of tra￿1￿9 and education programmes lo support busines5 and community groups undert¥ke resource efficiency prO￿arnme$ and vndersland the impact of Iheir buildings and operaiions. Funder UK Community Renewal Fund - Herlfordshire. Cambiidgeshire County Councl, Lincolnshire County Council Page S PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limilgd by Guarantee) TRUSTEES. REPORT {CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2023 Achievements and wrforman¢e l¢ontinupdl Busin¢s$ Lincolnsknire Small and medium soed bu$￿eSseS in LvKolnshire can access free expert aLfvbce and grants 10 9row their business after a £4million c35n Injectwjn into the county's 8usines5 Lincolnshire Growth Hub. Fundin9 was Secured by linc￿nshire County Council from the European Regionaj Devdopmenl Fund for a Ihree-year progfamme lo boost lo¢al economic gros￿￿. PECT provk1e$ speualisi on-srte resource effiuency support. Funcjer." European Reg￿n31 Development Fund Eastorn New Energy IENEI and Sou¢h E¥stÈrn New Energy ISENEI The New Energy projects aim3 lo build a stronger Local Energy and Low ca￿ Economy in the East of En9land and South Easl. They achieve Ihi$ by prwding supporl to a range of indNiduals arTrd or9ani53lion$. an(1 by Understand￿9 an¢J addre5sin9 the barriers lo the de¢arbonoabon of communities, buildings, transport and live5. The projec15 are led by the Universty ol Easl London. wth a %%i¢er partnership. PECT'S role 15 to provide grants to eligible small and met*um-sued businesses. to help calalyse capital investmenls in energy efficiency Funder. European Re9ional De¥el0￿ent Fund 8lu8prinl BLUEPRINT 15 an Interreg lunded European project asrning to as51St the translion to a Circular Eeonorny in England and France. The project aims lo provide a ¢i￿ular Economy tran￿￿0n framework lo local aulhoiib.es acr055 Englané and France, Increase household recyclin9 iale5 and drive the creation of new jobs for the benefit of local cornmunilies. Funder. Interreg France (Channel) England Prograrnme Cool Food PRO PECT is a key partner in Ihe 'Cool Food Pro. project which builds Ihe a¥Rrd-TrMnning micro project, CotrL Food. The project airn5 to incre35e 5uslainats"lity. lood security. and public well-being acros5 the UK and F¥ance, supporting the development of new practKes that wll he* the caterin9 industry tran5ikn'oTh to being carbon neutral by 20S0. Funder". European Regional Development Fund wa the Interre9 France (Channel) England ptogramme ECDC Climate Chang• PECT is providing 5UPPOrt to Easi Cambndg•shirè's Disirict Cothcl to hdp them design and deliver a range of climate emergency activities. Funder". East cambridgeshi￿ District COU￿ Heat Pump Ready PECT support the developrnent of optimised deployment ol dornestsc heal-pump5 in high-density areas.. using rural Cambri#ge$hire as a test bed for innovative lechnolo9ies to redvce cosls lo consumers, minimise barners to uplake. Improve repeatabtlity of perforrnance and understand impacts on the national 9￿d. PECT supported on the communrty engagement and communicaiKJns on the programme. Funder". City Science IBEISI carbon Reduction PECT wo¥ked with volunteers Irom Peterborough. Huntingdon and Fenland lo reduce their persDnal c3rbon footprint. The team of svstainabilily experts provided tailored support to the volunteers on an on9oin9 ba$is over a 6-month period. Funder". RSA Climate CharwJe and Risk Educaiion Grams Page 6 PETERBOROUGH ENVIRONMENT CITY TRUST {A Company knmited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achiev•m•nts and perforn)anco Icontinuedl "brary For... PECT partne￿d *ilh CIMC+ lo launch a new community hub and h"brary for within Peterborgugh Central L￿)rary. The library for is a popwp sp3ce foi rnJk*ng. leamin9. borrowtsg. and meeting. As pan of the. spaee, rnernbers can bofrow househokj Items lor 3 small rental, helping to reduce consumerism. Funder- National Lottery COmm￿lIY Fund Heallh and Wellb¢in Wonder Woman PECT ran six. free be3Nh and wenbeing cookery classes exclusively for women. The classes supported allenoees lo leain the make easy. n¢)400k dishes. find OLrt more abotrt the hislory of Cooking and some of the rnedicinal qualib.es of herbs. All sessK)ns took place in Giad51one in Peterborough. Fu￿ler." PCVS Enorgy Efficiency proj•cts PECT'5 energy efficiency projec15 aim lo ieduce fuel pgverty and increase the energy efficiency of households. We support ￿SidentS who are stwg91ing lo pay their bills or cannot keep their home he31ed at a sufficient lernperalure During this period. the prqecl has worked across the East of England with a focus on rulal parts of Cambridgeshire, Fenland, Carnbndge and Hunlingdon and Petertjorough. Funder5. Big Enefgy Saving Ne￿Ork IEneryy SawTrJ Trust). Energy ReLlres5. UKPN. CambfKlge City Cotin¢il,. East Cambiidgeshire Dislnct Council On Ya Bike PECT are working Wtl) Nene Park Trust to continve the positive active behaviour ch￿g¢S beyond the panéemic anij tnto our day lo day lives. We know that not everyone Is a confident cyclist or might not have been on a bike for 3 number ol years. Therefore. the partnership has formed to encourage 35 many new and old cydisl$ lo feel safe and comfortable when out cy¢ling around Peierbortrjgh. Funder. LNER Customer & Community Investment Fund Community Filt1ge Fenland PECT have been workin9 10 identify an appropnate brat￿n and community to set up and run a community fridge wthin Whittlesey_ Funder." Fenland Oistrict Council Cook and Eal PECT offered healthy cookery sessions ak)ng￿de gentJÈ gardening w)thshops, combinfn9 healthy eating with ouldoof activity. FunL1er Harry Cureton Fund W8tsr Sa¥ing PECT worked Anglian Waler customers across Pererbortsugh to educate Ihem aboth the importance of water meters an¢ the how lo save watef. Afongside this Pop-ups were held throughout Ihe community lo engage Ihe local community. provth informabon on a T￿ge ol Angban Waler initiabves. Funder Anglian Water . Factors relov•nt to achieve objectiv•s The PECT and GES teams have demonstrated their commitment and prolessionali5m Ihroughout the year. delivenng high-quality service5 and buikjing strong relaiionships wyth lunders. dients and partners. PECT has secured funding from various sources and has enhanced its reputation as a trusted partner in environmental prwed5. Page 7 PETER8OROUGH E14VIRONMENT CITY TRUST IA Cornpany Limited by Guardnteel TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENOED 31 MARCH 2023 Achievements and perfO￿anCe Icontinued) GES has Successfully adapted to Ihe changing mathet condits'oThs anil has provide(J ener9y management serwces for rts se¥en¢h yeaf of operalion. The charity has made efforts ta irnwove its finarKial stabilty by reducing core staff costs. Increasing staff llexibilily across projects and slfeamlining planning. reporting and acwunting processes. These efforts allow the chaiily 10 pursue ils chantable objectives wilh more confidence and effic*ncy. d. Inv¢$thi•nt policy and ￿rforManC0 Under the •Aemorandum and ArtKle5 of ASs￿lation. Ihe charity has the power lo make any In¥e51ment Ihal the Trustee5 see fil. Financial review a. Going concem After maksng appropriate enquiries. the Trustees have a ￿>sOnable expedalion Ihat the Charity has adequate resources lo continue in operational existence fov the loreseeable luture. For thi5 reason. they continue to adDPt the going ¢on¢em ba515 in preparing Ihe financial statements. Further de13ils regardin9 the adoption of the goin9 ¢on¢em basis can be found in the accountng policies. b. R¢serv¢s policy The PECT reserves poli¢y is 10 hold a minimum baknce of £190.000. which broadly equates lo the running costs for a 3 month period. The policy was last re¥ie*ed by Trustees in 2023. As at 31 March 2023 the ch8rily has unre51ricted general funds of £1.656.970 12022- £1.148.7011. PECT'S unre51ricted geneial funds are being used to support the operat￿n Oelivery of a ran9e ol European Funded projects which require the Trusl to fund activities aheacl of Ma￿n9 a fina￿181 daim. G. Material inv•stm*nls policy PECT holds an investment property valued at É210.000 vknid) is included Y•ilhin note 15 01 the financial stalemenls. d. Principal risks and un¢ertainties Thé trustees recognise tha¢ Ihere are potents.￿ risks to whth Ihe Charity may be exposed. The Iruslees have idenb.fied five main a￿3$ of nsk". govemance arKI mana9ement of Ihe charity operat+on21 nsks financial risks environmenlal and extemal factors ompliance wth law and regulati¢Jn The processes for monitoring and mithgation of these risks have been H1enlified and are ￿Corded in a risk register. The Iwslees have delegated the day-to-day implementabon. monrtoring and evaluation of the risk reglster to the management team. Dunng the year the Board rEceived reports f¥om the Chief Executive and agreed action$ 10 rn1119ate any serious risks. Page 8 PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guaranteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENOEO 31 MARCH 2023 t. Principal fvnding The pnnupal fijnding for Ihe charity has been Ihe gcant$ received trom a range of funders for charrtable acbvilies. Structure. govemaneo and managoment - Constitution Gov•rning Oocum•ni The cornpany aThY the group is a ¢harrtabk company limited by guarantee and does not have a share t3Pltal. The charity IS go¥erned by its Memorandum and Articles of Assw8lion dated 9th July 1993. All of the4rustees who are mernbers of the company guarantee lo contritxrte £1 ￿ the event of a winding up. b. Methods C*f appoinlment or ele¢ti¢)n of Tru$te R•eruitm•nt and appointm•nt of Ttu$t•es The diredors of Ihe charitable company Ithe tharity) are its Trustees for the purpose Of the charity law 3niY under the cornpanls Artides are known as members of Ihe 8oaTd. Under the requirernenis of the Memorandum and Articles of A5sociaiion one Ihird of the mernbers of the 8oard retire at each Annual General Meeting (by rotalion. those s¥ho have been lon9esl In o￿lCe since their lasl appointmenll. although they may offer themselves for rellelection. c. Organisational structure •nd d•¢isionrymaking policies Strategic direction for the chwily 15 inlormed by the Members lin¢knding the 10 8oard mernbersl Ihat are Scheduled to meel trrte per year a$ a group and are 9Nen opportw)rtie$ to engage wt4arty by the executive team. A Chief ExecutNe is appointed by Ihe Board io manage the operations ol ihe charity. To facilitate effeclive opeiations. the Chief Execulive has delegated athhoity. ￿thin temis of ￿e￿gatIon approved by the 803fd, for operational matters including finance, key performance indicattsrs. employment and project relateo aclivrty. Green Energy S*iich Lirniled IGESI. a vtholty owned Irading 5L*sidiary. is govemed by a Board ol Directors ¢ons15ting of Sluart Dawks IPECT Chief Execulivel. Sarah Buttigieg IGES Director of OperalK)nsl. Ashley Sutherland IPECT Tiusieel and Steven Trevknella IPECT Trusteel. d. Policies adopted for th• induction and tralning of Trustees Trustee Induction and Training All of ihe Trusiees are lamiliar wilh the practical PToject work of Ihe cha¢ity through regular updates at meetings and hathng been encouraged to get invofved in the community outreach prO￿¢t$, for example. altending the Green Festival. planling trees in the Foresl of Peterborough or attending the Inveslors in the Environmenl awards ceremony. In addition, appropriate training lakes place as arKI when deemed necessary. For new Trustees ihe ind￿tIOn programme allows them to understand.. their roles and re$pon5ibililies as 8 Trustee. the companls corporate polioes and procedures and the companys vIS￿n, mission and slrateglc plan. Page 9 PETERBOROUGH ENVIRONMEIIT CITY TRUST IA Gompany Limited by Guarant￿) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structu￿. governance and managemenl leontinuedl ITh addition, they have access lo Corporate pdKies and Pfocedures. board papers and a9enda5 and are given opportunities lo le*n more aboul operatHJns throu￿ feedback. rev*ws and one-t￿tsne meetings. e. Pay policy for key management personnel Senior Staff The pay of Senior stalf is ￿eed at board ￿Ve1. Details ol salaries paid lo key managernent pe¥50nnel ale disc105ed In note 11. Mem￿r¥ of the Board All members of Ihe Board. as liste¢J under Twstees on Page 1. give Iheii lime voluntarily and receive no benefits Irom the charily. For ye?r ended 31 March 2023, truslees re￿￿ed £nil of expen$es. f. R•lated party r•lationships 'The charbty has a dese relabonship wilh Ihe Trvstees and Iheir assoeiated organisal*)n5 whKh are." Toby Willtson (Chairl Soulhem Water Services- Director Brillsh Waier- Non-Executive Diredor Peler Brotherton Natural England- Director The British Ec¢*gKal Souety Peierborough Cathedral - Council member Steven Trewhella Rivelin Br￿1ge Ltd- Th"reclor Gfeen Energy Swtch knmited- Direcior Regional Flood and Coastal Cornmiitee~ Merrthr In$￿'tUt￿n of Ci*AI En￿neer$- Fellow Charter Management Ins*lute- Fellow James Cole Th& Partnering Initiats've- Dire¢tor NicollE Moyo (resigned 22 JanLtary 20231 larise Ltd- Director Peterborough City Counul- Councillor Ashley Sutherfand 14egarty LLP Soliulors- Partner Green Energy Swtch Limiied- Oirector None of the Tru$tee$ have any beneficial inlefest in the company. A summary of transact￿nS vAth related parties is set out in note 25 to the financi3151atements. Page 10 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH Z023 Plans for future periods A new 2020-2025 strategy was devebpeLI and launched in eatly 2020. The new slrate9y builds on the success of the 2016-2020 Strategic plan. and locus PECT efforts on educating. inspiring change. encoura9ing acliori and building collaboralion. To complement this. the year F4an lor 2023-24 Includes a l¢xus on delivery auoss the four business unils.: Climat• Education Launching a new websile and delivery model for climate educat￿. leaching mor* schools and students wit engaging and inleractive training se551¢WS Investors in th* Envlronrnent Expanding *he ￿e￿￿r￿ of ￿vestorS in Ihe enwronment members, offeriThJ more ¢)ppDrtunities for learning and ollaboration amon9 businesses committed to sustainability ASPECT Environmental Consultsncy A new service aimetj at helping businesses to assess their carbon l¢)otprint and Im￿ement strategies to achieve net zero emissions PECT Focusing PECT activilEs on foul key areas". lood. waste, eneryy and the natural environrnent. promoting healthy and eco-friendty lifest￿e$ for tomn￿nit*S Follow7ng on from last year. processe5 an¢J policies are in ￿ace to assist wth delivery of the new Strategy. Underpinning the strategy is an arm lo continue the charity cover rt tosts through the activities carried out. wlhoul a reliance on gift 3id or e￿ernal grants. There is a ¢oniinued drive towards efficienl use of time an(1 resources as well as a constant push on fundraigng and in¢ome 9ene¥atson activity in tsne with the year ￿an and stralegy. Funds held as custodian At the enil of Ihe year 2023. PECT held the fdl0￿.n9 lund5 for Olher chariiable entr￿e$". - Tourism Maps £15.44812022- £15.4481 Pa9e11 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by GuaTantpel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 31 MARCH 2023 Statement of Trustees. responsibilrfies The Twstees (who a￿ also the iJire¢lors of the Charty for the kxjrposes ol ¢ompany lawl are responsible for preparing the TfUStee5' Report and Ihe ffinancial staternenis In accordance applicable law and United Kingdom Accounting Stand3rds Iunited Kingdom Generally Accepted Acwnting Practicel. Cornpany law ￿qUireS Ihe Trvstees 10 wepare finanrAal statements for each finanual year. Under company law. the Twstees must not approve Ihe financial statements unless they are satisfied Ihat they give z Irue ané fair view of Ihe state of affairs of the Grow) and the Charity and of their incoming resources and application of resources. including Iheir income and expenditure. for Ihal per￿￿. In prepariThJ these financial slalements, the Tru51ee$ are required lo". select suitable a¢countin9 pohcies ar#J then them congslenuy. observe the methods and princi￿e$ of the Charites SORP IFRS 1021.. make judgments and accounting esiimates thal are feasonable ano pwdenl.. stale whether applicable UK Accountin9 Standards IFRS 1021 have been follo¥4Ed. subject lo wy material departures disclosed and explained in the financial slalemenis.. prepare the financial stalernenls on the 9oing concern basis unless it is inappropriate lo wesume Ihat the Group wll continue in bu51ne5S. The Trustees a￿ responsible for keepiwJ adequale accounb.ng records that are sufficienl lo show and explain the Group and the CITarity's transactions and disclose ¥wth reasonable accuracy at any time the financial P051tion of Ihe Group and the Charity and enable Ihem tg ensure that the f￿anCIal statements comply with the Companies Act 2006. They are also ￿spOnsIble for safe9uardin9 the assets ol the Group and the Charity hence lor taking reasonable $leps for Ihe p￿Vents.0￿ and deteciion of fraud and other irregulanlies. Disclosure of infomation to auditors Each of the persons vtho are Trustees al the lime vthen Ihis Trustees. Report is zpproved has tonfirrned that. 50 far as that T¥uslee is awa￿, there 15 no relevant au&1 inforn)at￿n of which the thantable group's audilors are unaware. and Ihat T¥uslee has taken all Ihe steps lttat Qughl lo have been taken as a Trustee in order lo be aware ol any relevant audit Informalion and lo eslablish thai the Charitable 9roup's auditors are aware ol Ihal tnforrnation. Auditors The auditors, St￿tI5 Audit LLP. ha¥e indicaled th*r *ilh"ngness to ¢ontinue ￿ office. The deswJnated Trustees 11 propose a motion reappointin9 the audrtor5 at a meetin9 of the Trustees Approved by order of members of the board and signed on their behalf by.. Tru$lees on 6 December 2023 T Willison (Chair ol Trustees) Page 12 PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limiteil by Guafanteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST Opinion We have audiced the financial statemenls ol Peterborou9h Environment City Trust (the 'parent charitable company'l and its subsidiaries Ilhe 'group'l lor the year ended 31 March 2023 which comprise the Consolidaie¢J Statement of Financial Activities. the ConsdidateL1 Balance Sheet, the Charity Balance Sheet, the Consolidated Statement ol Cash Flows and the related notes. Induding a summary of sKJnificant accountin9 policies. -The financial reportsng framework that has been applied in Iheir preparatw is applicable law and United Kingdom Accounting Standards. induding Financial Reportiftg Star￿ard 102 'The Financial Reporting . Standard applicable in the UK and Republic of Ireland. (United Kingdom Generalty Accepted A¢cwnting Practice). In our opnion the financkal 5talements-. give a twe and lair view of the slate of the Group's aThJ of Ihe parent charitable company'$ affairs as ot 31 March 2023 and of the Gioup's In¢omiTrJ resources and apphcaiion of resources, Includin9 rts income and expendrture for the year then ended.. have been property prepared in accordance Tr•nlh Unrted Kingdom Generally Accepted. Accounting Praci*e". and have been prepared in accordance ￿th Ihe requi¥emtnts of the Companies Act 2006 and the.Charities Ac12011. 8asis for ownlon We conducted ovr audit in accordance wth International Stsndards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities undei those standards a￿ lurther described in the Auditor5, responsibililies for the audit of the financial statements section of our report. We are Indepenllent of the Group in accordance with Ihe ethical requirements Ihat are relevant to our au¢rt of the financial statements In the United Kingdom, Including the Financial Reporting Council's Ethical Slandafd. and * have fulfilled rxjr other ethical responsibilitie5 in accordance wlh Ihese requirements. We bel*¥e thal the audit evidence we have obtsined is sufficient and appropnate to provide a bas15 for our opin￿. Conclusions relating to going con¢em In auditing the financial statements, we have tontluded that the Trustees, use of the 90ing Concem basis ol accounting In Ihe preparation of the financial slatements is appropriale. Based on the work we have perfomed. we have not idenlified any material uncertainties relating to events or conditions that. iThYividually or cdle¢tivety, may casl significanl doubt on the Group's or the parent charitable company's atslily to continue as a goMIg concern for a peno¢J of at leasi tsvefve months ffom when Ihe financial statemenis are autbofised foT Issue. Our responsibilities and the responsibithbes of the Trustees with respect to 90ing ￿ncern are described in the relevant sections of this repM)rt. Page 13 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limiied by Guarantee) INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST I¢ONTINUEDI Other infomiation The other inforrnatson comprises the infomab.on intluded in Ihe Annual Report other than the financial staiernents and our Au(*"lors' Report thereon. The Tru51ees are responsible lor the other information conlained thin the Annual Report. Our opini(M) on the financial staiemenls does Ml cover the other inforrnalion and, except 10 the extent Olhermse explicity stsied In our report. do not express any lomi of assurance conclusion thereon. Our responsibility is to read the olher information and, iri doing 50. cons￿er bthether the olher information is rnaterially Inconsistent the financi31 statements or our knovAedge obtsined in the coijrse of the audit. or otherwise appears to be maierially misstaieLI. If we ideniify such maieria inconsistencies or apparent rnateipal mis5tatemen15. ￿ are required to deterrnine whelher this gives rise 10 a material misstatement in the financial 51atemenls themselves. If. based on the work have performed. we conclude that there Is a mierial missiaiement ol thbs Olher inf￿mat￿Jn, are requi￿ io report that tsci. We have nothing 10 report in this ￿ard. Opinion on other matters pr•$¢ribed by Ihe Companies Act 2006 In our o￿nIOn, based on the work undertaken in the course of the audit.. the informalion given in the Trustees, Report l¢y the finawal year for ￿th1¢h.the financ*1 stalerneTh15 are prepareis Is cons15tent wilh the financial statements. the Trustees, Report has been p￿pared in accordance knith 3ppl￿ble legal requirements. Matters on whl¢h we a￿ reguired to report by exceptl¢)n In the Iyht ol our kno￿edge and understanding of the charitable company and 115 environment obtained in the eour5e ol the audif, we have not Identsfied matenal misstatements in Ihe Trustee5' Report. We have nolhin9 to report in respect of the f￿1￿￿7ng matters ￿ relalion lo whth Companies Act 2006 requires us lo report to you rf. in our O￿nI(MI. the parent tharilable company has nol kepl adequate and suffictent accounting recDrds. or ￿tU￿$ acle4uaie for our audit have nol been ieceived frorn branches not visited by us., or the parenl chaiilable company financial 5131ements are not in agreemenl wlh the accounting records and returns-. or cerlain disd05ures of Trustees. rerrrtmrabon specified by law afe not made.. or we have not received all the InI￿rnation and explafflation$ require lor our audil.. OT Ihe Trustees were not en15Ued to Prepare Ihe financial 51alemenls in a¢¢r>Tdance Ihe srnall companies regime and lake advantage of Ihe small companies. exerrpthMS in prepanng the Truslee5' Report and from Ihe requirement to prepare a Strate9ic Report. Pa9e 14 PETERBOROVGH ENVIRONMENT CITY TRUST IA Company Limitèd by Guaranie•l INDEPENDENT AUDITORS, REPORT TO THE MEM8ERS OF PETERBOROUGH ENVIRONMENT CITY TRUST ICONTINVEOI Responsibilities of Iru$t¢¢5 As explained more fully in the Trustees. Responsibilits"es Statement. the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparabon ol Ihe financial statements and for being satisfied that they give a true and fair view. and for such Internal control as the Trustees determine is necessary to enable the pfep3ration of finantial 5taiements that are tree from Tnatenal mis5tatemenl, theiher due to Iraud or efror. In prepari￿ the financi￿ sialements. the Trustees are ￿Spon￿ble for assessing the Group's and the parenl charilable company's ability lo continue as a going concern. disdosin9, as applicable. matters relaled lo going concern and using the goin9 concem basis ol accounting unless the Tfuslees either inlend lo liquidate the oup or the parent charitable eompany or to Cease operations, or have no fealistic altetnative but to do so. Page 15 PETERBOROUGH ENVIRONMENT GITY TRUST IA Company Limited by Guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PETER8OROUGH ENVIRONMENT CITY TRUST ICONTIMUEDI Auditors. respo￿lbIlItieS for th• aud5t of the fi￿n¢la1 slatgmgnts Our objectives are to obtain reasonable assurance about whether Ihe financial statements as a whole are free Irom materia5 mis51alement. whether due lo fraud or error. and to Issue an Auditor5, Report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wilh ISAS IUKI will always detect a material mis5talement when il exists. Misstaternent5 can arise from fraud or error and are considered material if. individLJalty or in the aggregate, they could reasonably be expected to influence the economie de￿$￿n$ of useis taken on the basis of these finanual statemenls. Irregulanties. Includin9 traud, are Instances of non¢ompliance with laws and regulalths. We design pwocedtyres in ￿"ne wilh our re5ponsibilib"es. oullined above, to delect matenal missiaiemenls In respect ol irregulanties, Including Iraud. The extent to our procethjres are cap3bk of delecling irre9ulantie5, including fraud is detailed belw Our approach to identifyin9 and a55es5ing the risks ol material misstatement in respect of irregularrties, includin9 traud and nonoup and whKh have not been desi9nated for other purposes. De*gnared fvnds comprise Un￿$1￿￿e0 Ihat have been set aside by the Trustees lor parii¢ular purposes. The aim and use of each de*gnated lund is set out in the noies lo the financial 5talemenls. Restricted funds afe lunds vknich are to be used in accordance wilh specific restrictions imposed try donors or vthich have been raised by the Group lor particulai purposes. The costs of raising and adminisiering such funds are charged against the specific lund. The asm and use ol each restricted funiy is set oul in the notes lo Ihe financ¢al siatements. Investrnent incorne. gains and1955e5 are all¢xaied to Ihe appropnaie fund. Page 27 PETER8OROUGH ENVIRONMENT CITY TRUST {A Company Limited by Guaranieel NOTES TO THE FINAPICIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AccoLtnting polici85 (continued Critical accounting •$timates and areas of judgment Estimates and judgments are coniinually evaluated and are based on historical experience anLI othef factors. indu¢Jing expe¢tahons of luture events that are believed lo be reasonable under the circumslan¢es. Critical accounling estimates and a5sunwtions.' The charity Makes eslimales antl assurnplions con¢eming the future. The resulting attounting estimates and assumption5 will. by definition, seldom equal the related actual resuhs. The key sources of estimation uncertainty that have a svJnificani effect on the amounts fecognised in the financial statements are described beb)w". Allocalion of costs - Direct expenses are tharged to Ind￿¥jua1 cost centre5 wherever possible. Where costs cannot be directy attributed to particular acltvilies. Ihey have been allo¢ated on a basis consislent th the use of Ihose resovrces. Intangl￿e fixed assets are recognis¢d al cost or valuation. bess accumulated amortisalion and arny impairment. Amorlisalion lakes place over Ihe eslimaled useful hfe. dovm to 8ssessed resKlual value. The ca[￿ng amount of the charity'5 Intangible fixed asseis is tested as soon as changed eondititsns show Ihal a Deed for irnpairmeDI has arisen. Tangible fixed assets are recognised at cost or ¥alualion. less accumulateij depreciation and any impairment. Depreciation t3kes place over the esbmated useful life, down lo the a5se55ed residual value. The carryiry arnounl of the chanly s tangl￿e fixed assets is tested as soon as changed conditions show that a need for impairrneni has ansen. The valuation of freehohl and Investment property is based on the Tr￿lee$. evaluation of the market, which Is judgement￿ and based on a55umpth?ns. Al the 31 March 2023 the Truslee's commissioned an IndepeThJenl valuer to provhle an estimate of Ihe market value ol the property at the balance sheel dale. This estimated market value has been rellected In the financial statemen15. Page 28 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Incorne from donations and legacies Unt•stricted R•$tricted lund$ lunds 2023 2023 Totsl funils 2023 Ivnds . 2022 Oonat'on5 10.289 5.203 1S,492 18,070 Tolal 2022 3.869 74.201 18.070 lricome from Charitablg a¢livilies Unre$tri¢ted Re5tri¢tsd funds funds 2023 2023 Tolal funds 2023 Total lunds Enwronmenlal consefvatKm and prOtect￿n Grants Govemmenl grants 292.056 175.981 396.105 532.212 468.037 396.105 532,212 245,248 311,091 -356.319 292.056 1.104.298 1.396.354 912,658 Tolel 2022 154.946 75T. 712 912,658 Ineome Irom trading activities Income from non charitsbl• trading acts"vib"•$ Unrestricted fvnds 2023 Total funds 2023 Total funds 2022 Tradin9 income IGESI 745.417 745,417 693,541 rwal 2022 693,541 693,541 Page 29 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 Investsnent Income UnrestrTrcted funds 2023 Total funds 2023 Total funcls 2022 Rental income Bank interest 13,657 2.691 13.6S7 2.691 25,118 2,000 16,348 16.348 27,118 Tol* 2022 27.118 27,118 Expenditure on raislng lurtds Oth*r trading expenses Unrestricted fvnos 2023 Totsl fund$ 2023 T￿aN liinds 2022 Cost of sales Adrninislration expenses Adrnini5tration 51aff costs 84,141 60.548 293.658 10,241 84,141 60,548 293.658 10,241 107,063 62.695 237.269 8,976 Admini51raknon depreciaiion 448,588 448,588 476.003 ToÈ812022 416.003 416,003 Page 30 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guafanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2023 Anaty$i$ of •xp•nthture by a¢llviti•s Activities undertak•n threctly 2023 Support tosts 2023 Totsl funds 20Z3 Tolal .lunds 2022 Environmentsl conseNation and protection 303.828 969,5S0 1.273,J78 965.'944 Total 2022 242. 134 723.810 965.944 Analysis of direct costs Total funds 2023 Tolal lunds 2022 Conferences and events Proect eosts Su1xontra￿ costs 4,J28 91,411 208,089 292 104.498 137,344 303.828 242, 134 Page 31 - PETERBOROUGH ENVIRONMENTCITY TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of expenditure by activities Iconllnuedl Analysls of support cos Total funds 2023 Tolal funds ?Q23 Staff costs Depreciahon Training Rent and rales Light. heal and power Insurance 782.180 2.720 9,723 11,065 5.916 3.4S7 5.258 611.861 5. 762 6.684 14,798 4.170 5. 183 3,606 Repairs and maintenance k li Telephone and fax Compvlers Prinling. poslage and Slationary Cleaning Travel and subsisience 1.140 14.709 2,598 2,800 17.035 40.611 23,493 6,302 3.283 7,500 28,531 1.229 1,368 25,269 1.633 3.287 6.024 Marketing Provision for bad and doubifvl debts Legal Profes￿Onal fee5 Accountancy and bookkeeping fees Governance costs- audjl reMUnerat￿)n Other support costs Bank charges (4.705) 7.679 2,518 7.500 14. 797 809 969.550 723.810 10. Auditors. remunerati¢)n 2023 . 2022 Fees payable ¢0 the Charity's audrtor for the audi¢ ol the Charity's ￿nUal accounts 7,51XI 7,500 Fees payable lo the Charity's auditor in respec¢ ofr All non-audit ser¥i¢es not induded abgve 3.283 1.893 Pa9e 32 PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limilod by Guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Staff costs Group 2023 Grt)UP 2022 Charity 2023 Chanty 2Q22 Wa9es and Salaries 1.07S.838 849. 130 782.180 617.861 1.075,838 849. 130 782.180 671,861 rhe average number of persons employed by the Charity duriryJ ¢he year was as folbws. Group 2023 No. Group 2022 Charity 2023 o. Charily 2022 Management and adminislrab.on Charitable a￿￿tIeS 33 28 24 19 36 37 26 21 No employee re￿r¥e0 remunerati￿ aM￿nting to more Ihan £60.000 in erther year. The lolal reM￿ne￿a￿On and benefits received by key management personnel was £58.667 12022 £51.4291. 12. Trustees, ￿MUneratIon and expenses Dvrin9 Ihe year. no Tiuslees received any remuneratKsn cv other benefils12022- £NALI. During Ihe yeai ended 31 March 2023, no Trustee expenses h3ve been Incurfed (2022- £NILI. Page 33 PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2023 13. Inlangible as5et5 Group Goodwill Co$¢ At 1 April 2022 37.800 Al 31 March 2023 37.800 Amortisation At 1 Apnl 2022 37,800 At 31 M*eh 2023 37,800 Net book value At 31 Mareh 2023 At 31 Mèrch 2022 Page 34 PETERBOROUGH ENVIRONMENT crry TRUST IA Company Limited by Guaran￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AIARCH 2023 14. Tangible ffix•d assets Grwp PAotor Fix￿1¢$ and ¥ehicl•s fittings Computer quipmènt Totsl Cost or valuation Al 1 Apnl 2022 Addition5 Disposals 33.198 1,251 19,7761 13.578 12.0361 14,829 ii'f.-8121 Al 31 March 2023 4,O¢JO 69.590 24.673 98.263 D8preciztion At l Apnl 2022 Char9e for the year On disposals 1.866 998 34.123 10.237 11.8061 30,112 1.506 19,7761 66.101 12,741 111,5821 At 31 March 2023 2,864 42.554 21.842 67.260 Net book Valu• Al 31 Mar¢h 2023 1.136 27.036 2,831 31,003 At 31 March 2022 2. 134 23.925 3.086 29. 745 Page 35 PETER80ROUGH ENVIRONMENT CITY TRUST IA Cornpany Limited by Gwranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. Tanglble fixed assets Icontinuedl Charlty Motor Fixtures and Vehicles fjitin9$ omputer equipment Totsl Cogt or valuation At l April 2022 Additions Disposals 4.000 6.549 33.198 1.251 19.7761 43.747 1.2S1 111,8121 12,036} Al 31 Marth 2023 4.000 4.513 24.673 33.186 0gpf•ciatlon At 1 April 2022 Charge for the year On disposals 1.866 998 6,302 30.112 38.280 2.504 111,5821 19.7761 Al 31 Maich 2023 2.864 4.496 21.842 29.202 Net book value At 31 Marth 2023 1.1 17 2,831 3.984 At 31 March 2022 2. 134 247 3,086 5.467 15. Inv#stm8nt prop•rty Group Freehold investment property Valuation Al 1 Apnl 2022 Surplus on reValUat￿ft 200,000 10.000 At 31 March 2023 210,000 Page 36 PETEReoROUGH ENVIRONMENT CITY TRUST IA Company Limii*d by Guarant•el NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 IS. Investment property l¢onlinuedl Ch8rlty Freehold in¥ostm*nt property Valuation Al 1 April 2022 SurplLts on fevaluation 200,IKIO Al 31 Marth 2023 210,000 Al the 31 March 2023 the Trustee's Gommissioned an independent valuer to provide an eslirnale of the market value of the property at the balan￿ Sheel date. This eslimaied market value has been reflecied In the financial 51atemenlS at £210.000. Investments In subsidiary cornpanies Charity Cost or Valuation At 1 Apnl 2022 Al 31 March 2023 Net book value Al 31 Marth 2023 At 31 M8rch 3022 Page 37 PETERBOROUGH ENVIRONMENT¢trY TRUST IA Company Limited by Gu3rant*•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 16. Debtors Group 2023 Group 2022 Charity 20Z3 Charity 2022 Due within one year Trade debtors 339.369 195.843 67.960 278.261 72,202 267.406 Amounts owed by group ￿dertak￿95 Other debtors Prepayments and accrued inco 69.267 223,811 433.173 425,342 220,330 772.542 487 921 771.563 553.938 17. Crethtors: Amounts falling due one y*aT Group 2023 Group 2022 ¢haYity 2023 Chanyy 2022 Trarle creditors Other iaxalion and sotial security Other creclitors Accruals and Ileferred income 55.358 70.702 55.073 43,IIT I,oii 161.839 33.780 17,410 36.644 1,511 696 154,070 279.718 2T1.885 410,622 261,040 327,919 192,921 Group 2023 Group 2022 Charity 2023 Charity 2022 Deferred in¢orne al 1 April 2022 Resources defeired durin9 Ihe year Amounts released fvom premus peritids 132.238 253,631 1132,238 91,761 132,238 191, 761) 132.238 253.631 1132.2381 97. 761 132.238 (91, T61} 253.631 132.238 253.631 132,238 Deferred incorne represents monies ￿CeNed in advance for variws charilable projects and iiE membership. Page 38 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Lifflited by Guarantee) NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. stsi•mont of fuThd5 stst•ment of lunds- ¢urr•nt yèar Balance at 31 March 2023 8alanc• at 1 April 2022 Transf•rs inlo Gainsl ILosse$l I￿oMe Exp•nditure Unr¢$tritted funds De5ign•t•d funds Desi9naled Funds 9.502 302,345 1263.9B3) 16.0721 41.792 G•n•ral funds General Funds 1.003,298 16,348 441,683 10.000 1,471.329 Subsidiary Company Fund 135.901 745.417 1458.5881 1278.8811 143,849 1.139.199 761,765 1458,588} 162,802 10.000 1.615,178 Totsl Unre5trict•d funds 1.148.701 1.064,110 1722,5711 156.730 10.000 1.656.970 Page 39 PETERBOROUGH ENVIFIONMÉiifciTY TRV5T lAC*￿PanYUmiI￿ by G¥4rant•el NOTÉS TO THE FINANCW STATÉI*I4TS FQR YHE YEAR ENDED 31 PLWICH ¥23 18. Ststemeht DI Ica￿￿￿￿) Tnnslft Galnsl ILossosl Balance at 31 atch 202J Awil 2022 R•51ri¢ted lunds Healthy S¢￿01$ MEES waim Hom•$ 2018 Foresi Fw Pe*rbow Tourism Maps F¢nlArt wil￿lIe C¢￿￿[¥ CO(%L Fotsj 8 cr￿ FotslPro L￿e wThtemil Fenlp EKCT P￿11￿￿11￿ peIert￿ Grow￿g O(¥¥thor Ea?tem Energy BESN 2020 BESN ItegR)n41 Lead 2020 8GL Vol￿1+*r Suw 67. 35.343 39.626 31.353 15.148 $6.332 {ts3.ge6) 90.280 {35.3431 1,5341 6.159 {8.1421 14.543 19.9S3) 42.702 15.410 (4.3441 123.382) {15.W61 12.604) 2.J23 16 29) 1109.0561 9D.168 {123.9061 120.3181 1s7.ieoi 1,701 2.31$ (2.523} (p.wJi (106.7341 9,7157 138,$41} 177.249 {1,34q} (1.08$) 1.085 148 215.430 1191.J701 15.13S CommunKty F[￿9￿$￿￿rth Energy Redteis Gmeffl Rectyery F 10. 1.9SS,012 Pape 4) PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guafanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Statgm¢nt of fvn(ts (coniinu￿I D•si9nat¢d Funds Oe$ignated fvnds are general funds that the charity has deswated to hek speafic projec15 run by the charity. Where there are defiul funds, these be settleil Ihrough 9eneral funds on completion of the projecl or actiwty. Restricted Fwd$ Tbe defiut balances on restricted funds wll be deared by general lunds at the end of Ihe project. The negative fund balances ￿lhI￿ reslricled reserves are cove￿ by the transfer from general reserves al the balance sheet date. Healthy Schods Healthy School$. Food Smart. The pioject is ￿ support pnmary school$ an¢J earfy years serwces t adopt a positive approach toward5 nuirition. E55 Project to plot Ihe technical delivery of Ihe w MEES re9ulation *Mlhin Pelerborough and Cambrid9e Cily. Warm Homes The projects airn to tackle fvel poverty artd inuease energy e￿￿1￿ncY. T￿"9 year PToJecl$ have induded CHESS and Warm Home Cambndge. Forest For Pet•rborough The project started In 2010 aiming to p￿1 over 230.000 trees in arml around the ¢ty and surroundin9 countryside by 2030. Tourism Maps Fun¢$ held for Peterborou9h Travel Ch￿ce from the sales of Petefborou9h Toufism maps. Fund lo be used to promote and support sust3￿at4e iravel across Pelerborough. OOL Food PRO The aim is creating an applKation to encoura9e Cate￿r$ to makin9 behaviotsr ¢harvJ?$ around their 'menus to Inspire habits to ieduce their ca(bon lootprint. B-Lines PECT Is enhancing the natural heiiiage of Ihe city. improving its bh)dwersity ané ￿aling pollinator- friendly areas. We're working 19gether *?th 8uglife to reverse the dechne in pollinator number5 by creating a ne￿Ork of wldfl¢)wer paihways IB-Iines). linking together extsth.ng habilais In the city and ra15ing awareness of the importance of wldnower planting. Whitemill anl Glassmoor Delivery of energy a(fvKe events across Fenland to support ¥e&denlS to lower their energy bills. Training was also undertaken by front line vffjrkers to enable them to provide basic energy advKe to service users. EKCT Pollinating Peterborough Working with five community group5 to create pollinator-frienthy space5 iTh Iheir ne￿ht￿jrh00d, raising awareness of the plight ol bees and powinators. enhancing the undersianding ol the inportance of wildflower plantin9. Pa9e 42 PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Ststgm•nt of lun(ts Icontinu•dl Growing Cgmrnunltie$ 009$thor The project In¥ol¥es wilh resident5 in the Gladstone afea, transfoming and enhancing 20 communal green space5 into attractive. biodiverse places. Eastern New Energy An ERDF fundecl project dehvered under PrKJrity Axis 4 and focused on low Carbon. PECT is delivering an SME grant scherrÉ lo supwt investment by small tr*Jsi￿sseS in energy efficiency and renewable energy. BESN Champion and Regional Lead Working lo support enefgy champions across the Easl of England lo deliver energy sur9eries and provide energy advice to residents. Blueprint Wofking to creale a circular ecwmy and Improve recyclin9 rales across Peterborough. Funding through the Interreg. Comfflunity Fridges March PECT estaNished a community IrKJ9e In N¢y1h March. which is helpro reduct food waste ai Ihe same lime as prowding tree food for the local communily. PECT brought together and trained a team of vdunteers to manage the fridge and the food debvery. ensuring long-term sustainabl￿"1Y of the project.. Energy R*drgs$ Tackling fuel poverty across cam￿"dgesh￿e using ftJndin9 from Energy Redfes5. Gr••n Recovery Forgst For Peterborough To 5UPPOrt communitie5 to plant o¥ei 13.000 trees a5 Part of the wdei Forest for Pelerborough proJecL John Clare Countryside To work wlh communities. parishes and land¢￿er5 to help 5UPPOrt Ibe doubling nature obJeclive5 through a range ol habitat Crea￿"0n progfammes, inswred by the poet John Clare. Junior Forester5 Workin9 Wlth sludent5 to teach them a ranye of fortslry*ased skills and to en¢oura9e them into natuie. The course is designed ¢0 support them as 3 new team over a six-4*eek petiod an¢ getb"n9 hand5 on practs"c¢ skll5. UKPN Cambridge ra¢klin9 fuel poverty a¢r055 Camlyidgeshire using funding Irom UKPN. Business Lincoln5hir¢ Srnall and medium sized busintsses in Lincolnshire tan access free expert advice and grants lo grow their busirsess after lundin9 was secured by Lincolnshire County Counca from the European Regional Developrnenl FunLI loi a three-year programme to boost local economic w04￿h. PECT provhles specialist ofvsite fesource effiuency support. Gr9•n Ro¢ov•ry John Clare Country&de To work with communiiies, parishes anil land0￿￿r$ lo hdp stjpport the doubling nature objeclives through a range of habital creation programmes. Page 43 PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guaranieel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Stst•ment of funds Itonlinuedl RSA Carbon R•duction Empowei and 5UPPOrt indiwduals tts make lifestyle change5 10 live more sustainably and reduce their carbon footprint. Thfotsgh traintng vdunteers io aci as Ambassadors to share learnirvjs and inspire other5 wlhin their communrty to live more 5U513inably. NLOW Fam TvAnnlng Vvorking lo Inspire schools and favmèrs to trezte and enhance wildlife habitats ai farms wiihin ihe CambrKlge$hire Fens. ECOC Climate Change Supp¢)rting East Cambridge 015trict C