2024-03-31-accounts

Registered number: 02834975 Charity number: 1023929 PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 •ADIAQD4Q' 1911212024 COMPANIES HOUSE

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PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guaranteel CONTENTS Page Reference and Admlnlstratfvo Detalls of the Charlty, It• Trustees and Advlsern Trustees. Report Trusten. Responsibilities Statement Independent Audltors. Report on the Flnanclal Statements Consolidated Slat•ment of Flnanclal Actlvltles 2-12 13 14-18 19 Consolldated Balance Sheet 20-21 Charlty Balance Sheet Consolidated Statement of Cash Flows 22-23 24 Notes to the Financial Statements 25-54

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees T Willison, Chair P Brolherton S Trewhella C Walker-Harrison L Knudson (resigned 29 August 2023) G Wright J Cole P Hansen A Sutherland Company regl•tered number 02834975 Charlty r•gl8tered number 1023929 Registered offic• Ham Lane House Ham Lane Orton Waleniille Peterborough PE2 SUU Company secretary A Sulherland Chlef executlve offlcer S Dawks Independent auditorn Streets Audit LLP Chartered Accountants and Statutory Auditors 38 Tyndall Court Commerce Road Lynch Wood Peterborough Cambridgeshi PE2 6LR Bankers National Westminster Bank PLC PO BOX 15 Cathedral Square Pelerborough Cambridgeshire PE11HW Sollcltors Hegaty LLP 48 Broadway Peterborough Cambridgeshire PE1 1YW Page 1

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmlted by Guafontee) TRU5TEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual Report serve5 the purposes of both a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual Report and financial ststements of the charitable company compty with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORPI applicable to charities preparing their accounts in aceordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Slralegic Report and Directors. Report) Regulations 2013 has been omitted. Objeetlves and activlties a. Policies and objectives Our charity's purpose, as set out in the objects contained in the Memorandum of Association are to advance the education of the public and promole involvement in all matters concerning environmental conservation and to preseNe, protect and enhance the environment primarily within the Peterborou9h area and elsewhere. The chanty's vision is Sustainable Places, The charity's mission is to protect and enhance the environment throughout Peterborough and beyond. PECT aims to help preser¥e, protecl and enhance the environment. We want to improve people's quality of life by raising awareness of environmental issues and nurturing behaviour change. Our vision is for Sustainable Places and we aim to make a real difference for people and planet. PECT'S work covers four key areas.. The Natural Environment - We recognise that biodiversity and access to nature has a multitude of therapeutic, social and health benefits. Community & Education - We champion connected communities and people being involved in their local area to prevent social isolalion. Responsible Resource Use - To create a sustainable future we need to ensure that every individual and organisation is living within the means of our planet. We support innovative solutions for a smarter future. Health & Wellbeing - We want to encourage people to become more active and lo improve their wellbeing. Whether it's looking at the food we eat, the exercise we take, how we travel. or the consumer choices we make. b. Strategies for achieving objectives Our outcomes are reviewed by staff, the Board and Members. These reviews look at what we have achieved, if our work 15 being delivered across all of our outcome5 and idents'fying where the gaps are. In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commissions guidance on Public Benefit. Page 2

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limlted by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities (continued) c. Actlvltl•s undertaken to achlev• objectlves In undertaking any activity, it is important that we follow a set of core values as below. TRUST PECT values and principles are built on trust and guides our actions and decision. We are transparent and accounlable including our aclivities, outcomes, and finances. We will maintain a sale, honest. and supportive environment and be aware of our impact on others. We value openness and the views of others and promote the values of diversity and inclusivity. INTEGRITY We uphold Ihe highest ethical standards and respect Ihe dignity and rights of all people. We are committed to delivering quality services and achieving positive outcomes for our beneficiaries and clients. EXPERTISE We will share our knowledge and insights with our dients, acting as credible and trusfvrforthy source of information and solutions. We will showcase our achievements and impact and collal)orate with others to share our knowledge and successes PASSION We are passionate about creating a positive impact on the environment and Ihe communities we serve. You will have a strong interest and enthusiasm for what we do and why we do it. d. Main activities undertaken to further the Charity's purposes for the public benefit The main audlences for the year were: Business - Helping businesses to become more sustainable through resource efficiency and education. Communities Increaslng actlon and support in the communities through projects that lead to healthier and sustainable places for people and the environment. Education Providing support and resources lo schools, teachers and students through our sustainability focused education activity. Achievements and perforniance a. Key perfomi•nce indlcators This year, Peterborough Environment City Trust (PECTI has continued to work within the 2020-2025 strategi plan. The focus for the team has been completing a range of long and short lerm programmes and expanding the current services. PECT delivers seNices and contracts and runs projects in collaboration with grant giving organisations, businesses and communities. For Ihe year ended 2024, total incoming ￿sOurces. both restricted and unrestricted for the charity was £2,061,956 12023 £2.173,611) which was mainly funded through grants, contracts and business consultancy, but also from donations, rental and investment income. Page 3

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance (continued Expenditure far the financial year totalled £1,670.22612023 - £1,721,966). Net income in the year wa5 £392,878 (2023- £461,645). Closing reserrfes were £2,347,890 01 which £401,382 was restricted (2023 - £1,955.012 of which £298.042 was restricted). The charity's policy to hold rese￿eS sufficient to ensu￿ the continuance of projects and activities, see further on in this report for more details. The financial goal going forward remains. in line with the strategy, to generate income from a wider range of sources, fully covering operational and business development costs and generating a surplus to be reinvested. b. Revlew of actlvltl•s The work of PECT is split across four business units: PECT Charity, Investors in the Environment. Climate Education and ASPECT Consultancy This year PECT has continued to develop nature based solutions and community engagement through our work delivering tree planting and wider biodiversity improvement projects. These include Forest for Peterborough. Pollinating Peterborough, the Woodland Creation Accelerator Fund and Caring for Nature. To celebrate 30 years since PECT'S establishment, PECT launched its '30 for 30 fund, which saw grants of between £250 and £1.000 being paid to nearly 50 community-led projects across the Pelerborough area. Our business focused activity has increased with a wider appreciation of the need for all organisations to make improvements to their environmental performance. Our Investors in the Environment accreditation scheme has seen a large increase in membership accompanied by the development and deployment of new training courses and resources. We have continued to deliver resource efficiency support through Low Carbon Lincolnshire and Cambridgeshire Green Business, and éeliver the resource efficiency grants a5 part of the ERDF funded Eastern New Energy programme and South Eastern New Energy. We have also continued our Bring it Back programme, looking at using reusable containers in various setting, to transition away from single use disposable packaging Our environmental education service has continued to develop as we have launched our new Climate Education website,. we have also delivered another year of the Food Smart food and nutrition service through Cambridgeshire schools. Our home energy sUPPOrt has increased in line with the challenging circumstances households find themselves in in relation to energy prices and the increase in cost of living. We have also worked with groups to increase cyding, reduce isolation and increase understanding of food and cooking skills. PECT Chari Forest for Petert)orough PECT launched the Forest for Peterborough initiative in 2010 with the goal of planting over 230,000 trees in and around the city by 2030. To date, we have planted over 140,000 trees, engaging thousands of volunteers in the process. Funders.. Viridor, DEFRA Green Recovery Challenge Fund, Corporate Donations, Individual Donations. Page 4

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perforniance (contlnu•d Woodland Creatlon Accelerator Fund The Woodland Creation Acceleralor Fund is a government funded projecl between Peterborough City Council and PECT. The project involves leading and coordinating targeted community engagement activities including consultation support and tree planting events. Funder.. Pelerborough City Council Pollinator Parks This is a 10-year project where PECT will be committed to planting and maintaining 400 trees and 100 metres of wildflowers. Funder., National Highways Carlng for Nature Caring for Nature is a Skills Training project that offers young people and adults the opportunity to gain work experience in the environmental conservation sector. The project offers 6-week Courses to unemployed adults and young people not in education or training (NEETS). The project offers participants the opportunity to leam about and restore the natural environment in the project area. Funder. Fenland District Council Healthy Schools: Food Smart PECT Education team is working in partnership with Everyone Health to support primary schools and earfy years services to adopt a positive apprcach toward5 nutrition. Working as part of a wider 'Healthy Schools. programme, PECT aims to Greate environments that support children and their families to improve their well- being acros5 Peterborough and Cambridgeshire. Funder.. Everyone Health NLOW Fami Twinning The education team are working with Cambridgeshire ACRE and Kids County, to provide schools with number of resources lo enable them to engage in pre and post learning to support farm v1Sits and be able to create their own wild areas within their school grounds. Ensuring that after the vi51ts have taken place leaming contir)ues within their school around sustainability of our wodd. health and wellbeing of leaming outdoors and the importance of these wil(i spaces and bio diversity in contexl to food production in the area. Funder.. Heritage Lottery Fund Llbrary For... PECT partnered with CIVIC+ to launch a new community hub and library for within Peterborough Central Library. The library for is a popup space for making. learning, borrowing, and meeling. As part of the space, members can borrow household items for a small rental, helping lo reduce consumerism. Funder.. National Lottery Community Fund Bring it Back This project involves supporting innovation and behaviour change to reduce single-use food and drinks packaging. PECT worked with a range of communilies to understand their specific specific barriers to reusable packaging systems. Funder. Starbucks and Hubbub The Kanifing Environmental Transformation Programme KETP is a flagship proiect for Kanifing Municipal Council (KMCI in partnership with PECT and Peterborough City Council. Funded by the European Union, the project aims to develop a sustainable focus on new, integrated waste managemenl approaches to drive environmental, social and economic transfomiation in the Kanifing municipality. Funder.. European Union Page 5

PETERBOROUGH ENVIRONMENT crry TRUST IA Company Llmited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance (continued) En•rgy Efflcl•ncy proJ•ct• PECT'S energy efficiency projects aim to reduce fuel povety and increase the energy efficiency of households. We support ￿SIdentS who are struggling to pay their bills or cannot keep their home heated at a sufficient temperature. During this period, the project has worked across the East of England with a locus on rural parts of Cambridgeshire, Fenland, Cambridge and Huntingdon and Peterborough. Funders.. Big Energy Saving Network (Energy Saving Trust), Energy Redress, UKPN, Cambridge City Council, East Cambridgeshire District Council Community Fridge Fenland PECT have been working to identty an appropriate location and community to set up and run a community fridge within Whittlesey, which launched In October 2023. Funder.. Fenland District Council Climate Education Support and website PECT'S Eco Charter supports environmental education in Schools., encouraging over 40,000 students a year to think suslainably and colleclively reduce their impact on the environment. The programme act as a single point of contact for schools and other providers to facilitate a collaborative and coordinated approach to sustainable education. This year PECT launch and rollout of the Climate Educalion website marked a milestone in environmental awaTene55 initsatives and created new and exciting avenue5 to support education groups in their sustainability awarenes5. Funder. Individual Schools. East Cambridgeshire District Council. Fenland District Council, Cambridgeshire County Council and Huntingdonshire District Council Investors in tho Environment IIE Investors in the Environment (iiEI is PECT'S nalional environmental accreditation stheme. designed to help organisalions save money, reduce their environmental impact, and gain recognition for their green credentials. Over the past year. iiE has seen significant growih, reflecting a growing commitment to sustainability wthin the business community. iiE has expanded its membership significantty, attracting a diverse range of organisations from various sectors. This growlh highlights the increasing awareness and dediGalion lo environmental stewardship among businesses. iiE now offers a comprehensive range of environmental training programmes and online webinars, equipping members with the skills needed to implement effective sustainability practices. These resources cover topics such as energy efficiency, waste reduction, sustainable procurement. and biodiversity conservation. Organisations accredited by iiE have reported substantial cost savings through improved resource efficiency, including reduced energy and water use and less waste. Accreditalion has also enhanced their reputation, giving them a competitive edge by demonstrating their commitment to sustainability. ASPECT Consullanc Low Carbon Lincolnshire The Low Carbon Lincolnshire project is an ongoin9 workshop programme aiming to support businesses in Lincolnshire and Rutlan(J to become more energy efficient and decrease their carbon output. Tailored workshops delivered by PECT are designed to help small and medium sized businessed begin or continLte their journey to net zero. Workshop topics include Net Zero, Decarbonisation, Energy Management and Supply Chains. Funder.. Lincolnshire County Council Page 6

PETERBOROUGH ENVIRONMENT CITY TRUST {A Company Llmlted by Guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevèments •nd p•rformance lcontlnued) Eastern Nèw Enargy (ENE) and South Ea8t•rn New Energy (SENE The New Energy projects aims to build a stronger Local Energy and Low Carbon Economy in the East of England and South East. They achieve this by providing support to a range of individuals and organisations, and by understanding and addressing the ba￿lerS to the decarbonization of communities, buildings, transport and lives. The projects are led by the University of East London, with a wider partnership. PECT'S role is to provide grants to eligible small and medium-sized businesses, lo help catalyse capital investments in energy efficiency initiatsves. Funder.. European Regional Development Fund Green Buslness Impact Project Working with Allia, the Green Business Impact Programme aims lo support local SMES in their efforts to reduce the carbon fooiprinl of their operations, to understand which actsvllies to priorit15e to have a higher impact on reducing their cart)on loo￿rin1 and lo embed sustainability into business operations and integrate climate change into decision making. Organisations will be supported to understand their current carbon emissions and develop a 5 year Net Zero roadmap lo help facilitate their sustainability joumey. Funder. Cambridge City Council, South Cambridgeshire Di5tricl Council. Huntingdonshire District Council, the Cambndgeshire and Peterborough Growth Hub and the Cambridgeshire & Pelerborough Combined Authority Green Skllls Boolc•mp The Green Skills Boolcamp programme comprises of a series of integrated modules which take participants on a joumey from gaining a broad understanding of sustainability through to a detailed focus on environmental auditing and management and Carbon Literacy. The Programme also cover5 key workplace and sustainability skills and knowledge to support partscipants to become effective sustsinabilily leaders wherever Ihey are in their career. Funder.. CPCA Heat Pump Ready PECT support the development of optimised deplcyment of domestic heat-pumps in high-density areas,. using rural Cambridgeshire as a test bed for innovative lechnologies to reduce costs to consumers, minimise barriers to uptake, improve repeatability of performance and understand impaGts on the national grid. PECT supported on the community engagement and communications on the programme. Funder.. City Science IBEISI c. Factors relevant to achiov• objectlves The PECT and GES teams have demonstrated their commitment and professionalism throughout the year. deliveting highsuality services and building strong relationships with funders, clients and partners. PECT has secured funding from vafiOUS sources and hes enhanced its reputation as a trusted partner in environmental projects. GES has successfully adapted to the changing market conditions and has provided energy management Se￿iceS for its seventh year of opefalion. The charity has made efforts lo improve ils finanaal stability by reducing core staff costs, increasing staff flexibility across projects and slrearnlining planning, ￿porting and accounting processes. These efforts allow the charity to pursue its charitsble objectives with more confidence and efficiency. Page 7

PETERBOROUGH ENVIRONMENT CITY TRUST {A Company Llmlted by Gu•rantee> TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perforrnaDc• Icontlnued) d. Investment policy and performance Under the Memorandum and Artides of Association, the charity has the power to make any investment that the Trustees see fit. Flnanclal revlew a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational exislence for the foreseeable futu￿. For this reason, they continue to adopt the golng concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The PECT reseprfe5 policy is to hold a minimum balance of £190,000, which broadly equates to the running costs for a 3 month period. The policy was last reviewed by Trustees in 2023. As at 31 March 2024 the charity has unrestricled general lunds of £1,946.508 (2023 - £1,656,970). PEcfs unrestricted general funds are being used to support the operation delivery of a range of European Funded projecls which require the Trust to fund activitie5 ahead of making a financial claim. c. Materlal Investments pollcy PECT holds an investment property valued at £210,000 which is induded within note 15 of the financial stalements. d. Principal risks and unc•rtalntles The trustees recognise that there are potential risks to which the charity may be exposed. The trustees have identified five main areas of risk.. govemance and management of Ihe charity operational risks financial risks environmental and external factors compliance with law and regulation The processes for monitoring and mitigation of these risks have been identified and are recorded in a risk register. The trustees have delegated the day-to-day implementation, monitoring and evaluation of the risk register to the management team. During the year the Board received reports from the Chief Executive and agreed actions to mitigate any serious risks. e. Principal funding The principal funding for the charity has been the grants received from a range of funders for charitable activities. Page 8

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management Constitution The company and the group is a charitable company limited by guarantee and does not have a share capital. The chanty is governed by its Memorandum and Artides of Association dated 9th July 1993. All of the trustees who are members of the company guarantee to contribute £1 in the event of a winding up. b. Methods of appointment or electlon ol Trust•a• The directors of the charitable company (the charity) are ils Trustees for the purpose of the charity law and under the company's Articles are known as members of the Board. Under the requirements of the Memorandum and Articles of Association one third of the members of the Board retire at each Annual General Meeting (by rotation, those who have been longest in office Since their last appointment). although they may offer themselve5 for re-election. c. Organlaatlonal structure and declslon￿nakIn9 pollcl•8 Strategic direction for the charity is informed by the Members (induding the 8 Board member51 that are scheduled lo meet fviice per year as a group and are given opportunilies to engage regularfy by the executive team. A Chief Executive is appointed by the Board to manage Ihe operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the Board, for operational matters including finance. key performance indicators, employment and project related activity- Green Energy Switch Limited (GES), a wholly owned trading svbsidiary, is governed by a Board of Directors consisting of Stuart Dawks IPECT Chief Executive), Sarah 8uttigieg IGES Director of Operation61, Ashley Sutherland (PECT Trustee) and Steven Trewhella IPECT Trusteel. d. Policie8 adopted lor the Induction and training of Trustees All of the Trustees are familiar with the practical project work of the charity Ihrough regular updates at meetings and having been encouraged to gel involved in the community outreach projects, for example, attending the Green Festival, planting trees in the Forest of Peterborough or attending the Investors in the Environment awards ceremony. In addition, appropriate Iraining tskes place as and when deemed necessary. For new Trustees the inductron programme allows them to understand.. their roles and responsibilities as a Truslee, the company's corporate policies and procedures and the company's vision. mission and strategic plan. In addition, they have access to corporate policie5 and procedures, board papers and agenda5 and are given opportunities to learn more about operations through feedback, reviews and one-to-one meetings. Page g

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurei governance and management {continued) o. Pay policy for key management pevsonnel The pay of senior staff is agreed at board level. Detsils of salaries paid to key management personnel are disclosed in note 11. All members of the Board, as lisled under Trustees on Page 1. give their time voluntarily and receive no benefits from the charity. For year ended 31 March 2024, trustees reclaimed £nil of expenses. f. R•lat•d party r•lation•hlp• The charity has a close ￿latiOnShIp with the Trustees and their associated organisations which are: To Willison Chair Wessex Water- Director of Strategy Temple Group - Strategic Adviser British Water - Non-Executive Director Peter Brotherton Natural England- Director of Science The British Ecological Society- Committee member Peterborough Cathedral - Lay Canon nTr Rivelin Bridge Ltd - Director Green Energy Switch Limited- Oirector James Col The Partnering Initiative Truslee University of Cambridge Institute for Sustainability Leadership - Executive Director Ashle Sutherland Hegaty LLP Solicitors- Partner Green Energy Switch Limited- Director hloe Walker-Harrison Innovate UK Business Connect- Head of Strategic Portfolio Office All Saints, VA Church of England Prirnary Sthool- Govemor Penn Han YMCA Trinity Group - Head of Commercial Acts'vitses Pelerborough Cultural Alliance - Board member Gemma Wri Azet5 Accountants - Associate Direclor A summary of transactions Wlth related parties is set out in note 25 to the financial statements. Page 10

PETER8OROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods A new 2020-2025 strategy was developed and launched in early 2020. The new strategy builds on the success of the 2016-2020 strategic plan, and focus PECT efforts on educating, inspiring change, encouraging action and building collaboration. The board, staff and stakeholders a￿ cur￿nty working IYI the 2025+ strategy. To complement this, the year plan for 2024-25 includes a focus on delivery across the four busines5 units '. Climate Education Building on the launch of the new website and delivery model for climate education, reaching more schools and sludents with engaging and interactive training sessions Investors in the Environment Expanding the netrwork of investors in the environment mernbers, offering more opportunities for leaming and collaboration among businesses committed to sustainability ASPECT Environmenlal Consullancy A new service aimed at helping businesses to assess their carbon footprint and implement strategies to achieve net zero emissions PECT Focusing PECT activities on four key areas.. food, waste, energy and the natural environment, promoting healthy and eco-friendly lifestyle5 for cammunilies Followng on from last year, processes and policies are in place to assist with delivery of the new strategy. Underpinning the strategy is an aim to continue the charity cover it costs through the activities carried out, without a reliance on gift aid or external grants. There is a continued drive towards efficient use of lime and resources as well as a constant push on fundraising and income generation activity in line with the year plan and strategy. Funds held as custodian At the end of the year 2024, PECT held the following funds for other charitable entitles.. - Tourism Maps £15,44812023- £15.448) Dlsclosure of Informallon to auditors Each of the persons who are Trustees at the b.me when this Trustees. Report is approved has confimied that: so far as thal Trustee is aware, ther8 is no relevant audit infomiation of which the charitable group's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish thal the charitable group's auditors are aware of that information. Page11

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Auditor6 The auditors, Streets Audit LLP, have indicated their willirlgness to continue in office. The designated Trustees will propose a motion reappointing ihe auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 11 December 2024 and signed on their behalf by T Willison (Chair of Trustees) Page 12

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Truslees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Truslees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the finanoal statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for thal period. In preparing these financial statements. the Trustees are required to.. select suitable accounting policies and then apply them con5iStently; observe the methods and principles of the Charities SORP IFRS 102)., make judgment5 and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial 5talemenls on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the Group and the Charity and hence for taking reasonable steps for the prevention and delects'on of fraud and other irregularities. Approved by order of the members of the board of Trustees on 11 December 2024 and signed on its behalf by.. T Wllllson (Chair of Trustees> Page 13

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST Oplnlon We have audited the financial statements of Petert)orough Environment City Trust (the 'parent charitable company'l and its subsidiaries (the 'group'l for the year ended 31 March 2024 which Comprise ihe Consolidated Statement of Financial Activitie5, the Con501idaled Balance Sheet, the Charity Balance Sheet, the Consolidated statement of Cash Flows and the related notes, including a 5umrnary of significant accounts'ng policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Finanrjal Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practice., and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Audits'ng {UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Elhical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe Ihat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu51ons relatSng to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condition5 that, individually or collectively, may cast significant doubt on the Group's or the parent chantable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wth respect lo going concem are described in the relevant sections of this report. Page 14

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED) Other Inforniation The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other informalion contained within the Annual Report. Our opinion on the financial slatemenls does not cover the other information and, except lo the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infornation and, in doing so, Consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audil, or othemise appears lo be materially misstated. If we identfy such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement in the finanaal statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other inforTnats'on, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other mattern pr•scrlbed by the Companlfjs Act 2008 In our opinion. based on the work undertaken in the course of the audit: the infomiallon given in the Trustees, Report for the financial year for vh)ich the financial statements are prepared is consistent with the financial slalements. the Trustees. Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the charitsble company and its environment obtained in the course of the audit, we have nol identified malerial misststements in the Trustees, Report. We have nothing to report in respect of the following matters in ￿latIon lo which Companies Act 2006 requires us lo report to you if, in our opinion.. the parent chantable company has not kept adequate and sufficient accounting records, or relums adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and retums., or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of Ihe srnall companies, exemptions in preparing the Trustees, Report and from the requirement lo prepare a Strategic Report. Page15

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED Responslbllitles of trustees As explained more lully in the Trustees, Responsibilities Ststement, the Trustees (who are also the directors ol the charitable company for the PUTpose5 of company lawl are responsible for the preparab'on ol the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements. the Trustees are responsible for assessing ihe Group's and the parent chaNlab5e company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitsble company or to cease operations, or have no realistic altemative but to do so. Page 16

PETERBOROUGH ENVIRONMENT CITY TRUST {A Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED) Auditors. responsibilities for the audil of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole a￿ free from material misstatement, whether due to fraud or error, and to issue an Auditors, Report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when il exists. Misstatements can arise fram fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect materlal misstatements in respect ol irregularlties, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed belaw.. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured Ihat the engagement team collectively had the appropriate competence. capabilities and skills lo identify or reGognise non<ompliance with applicable laws and regulations,, we identified the laws and regulations applicable lo the company through discussions with directors and other rnanagement, and from our commercial knowledge and experience of the company and sector in which it operates., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations ofthe charitable company, induding the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation., we assessed the extenl of compliance with the laws and regulations identified above Ihrough making enquiries of management and review of legal fees., and identified laws and regulations were communicated within the audit team regularly and the team remained alert lo inslances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement. including obtaining an understanding of how fraud might occur, by". makin9 enquirie5 of management as to where they considered there was suscepkn'bility to fraud, Iheir knowledge of actual. suspected and alleged fraud,. and considering the internal controls in place to mitigate risks ol fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and overnde of controls, we". performed anatytical procedures to identify any unusual or unexpected relationships., tested ioumal entries to identify unusual transactions,. assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indiGalive of potential bias,. and investigated the rationale behind significant or unusual transactions. In response to the risk of i￿egular￿lieS and nonwcompliance with laws and regulations, we designed procedures which included, but were not limited lo agreeing financial statement disclosures to underlying SUPPOTts'ng documentation., reading the minutes of meetings of those Charged with governance; enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. Page 17

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT Ctry TRUST (CONTINUED) There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transacts'ons. the less likely it is that we would becorne awa￿ of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misslatemenls that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberale concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. vi￿.frc.0r .uklaudi nsibilikn'es. This description forms part of our Auditors, Report. Use of our report This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable Company's trustees. as a body. Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thal we might state to the charitable company's members those matters we are required lo state lo them in an Auditor5, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assurne responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report. or for Ihe opinions we have formed. Robert Anderson Bsc FCA (Senlor Stalutory Audilor) for and on behalf of Streets Audit LLP Chartered Accountants and Statutory Auditors 38 Tyndall Court Commerce Road Lynch Wood Peterborough Cambridgeshire PE2 6LR Oate.. 18 Oecernber 2024 Page 18

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmltod by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME ANO EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restricted funds 2024 Total fund8 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities other trading activities Inveslments 14,452 294,161 912,784 18,794 6,580 815,186 21,032 1,109,346 912,784 18,794 15,492 1,396,354 745,417 16,348 Total income 1,240,191 821,765 2,061,956 2,173,611 Expendltur• on: Raising funds Charitabl8 acts'vities 592,901 386,373 592,901 1,077,325 448,588 1.273,378 690,952 Total expenditure 979,274 690,952 1,670,226 1, 721,966 Net Income b•for• net galns on Investments Net gains on investments 260,917 130,813 391.730 451,645 10,000 Net Income before taxatlon Taxation 260,917 1,148 130,813 391.730 1,148 461,645 Net Income after taxatlon Transfers between funds 262,065 27,473 130,813 127,473) 392,878 461,645 18 Net movement in funds 289,538 103,340 392,878 461,645 Reconclllatlon ol fund•: Total funds brought foThvard Net movement in funds 1,656,970 289,538 298,042 103,340 1.955,012 392,878 1,493,367 461,645 Total funds carried forward 1,946,508 401.382 2,347,890 1.955.012 The Consolidated Statement of Financial Activltles includes all gains and losses recognised in the year. The notes on page5 25 to 54 form part of these financial slatements. Page 19

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmited by Guarantee) REGISTERED NUMBER: 02834975 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Tangible assets Investment property 14 150,990 210,000 31,003 210.000 360,990 247.003 Curr•nt assets Debtors Cash at bank and in hand 16 504,408 1.944,676 772,542 1,353,237 2,449,084 2. 125, 779 Creditors: amounts falling due within one year 17 1462,1841 (410, 622) Nel current assets 1,986,900 1, 715, 157 Total assets less curr•nt Ilabllltle8 2,347,890 1,956,160 Provisions for liabilities (1. 148) Net assets 2,347,890 1,955,012 Total net assets 2,347,890 1,955,012 Page 20

PETER80ROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guaranteel REGISTERED NUMBER: 02834975 CONSOLIDATED BALANCE SHEET (CONTINUEO) AS AT 31 MARCH 2024 2024 2023 Not• Charity funds Restricied funds 18 18 401,382 1,948,S08 298,042 1,656.970 Unrestricted fund5 Total funds 2,347,890 1.955,012 The Trustees acknowledge their responsibilities for complying With the requirements of the Act with respect to accounting records and preparation of financial stalemenls. The financial statements have been prepared in accordance with the provlsions applicable to ents'ties subject to the small companies regime. The financial slaternents were approved and authorised for issue by the Trustees on 11 December 2024 and signed on their behalf by.. T Wllllson (Chair of Trustees) The notes on page5 25 to 54 form part of these financial statements. Page 21

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 02834975 CHARITY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments Investment propety 14 127,789 3. 984 15 210,000 210.000 337,790 213,985 Current assets Debtors Cash at bank and in hand 608,893 1,630,979 771,563 1,153,534 2,239,872 1,925,097 Creditors.. amounts falling due within one year 17 (371,0621 (327,919) N•t current a$$et8 1,868,810 1,597,178 Total assets less current liabilities 2,206,600 1,811,163 Net assets 2.206,600 1,811,163 Total n•t a88•t• 2,206,600 1,811, 163 Page 22

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) REGISTERED NUMBER: 02834975 CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 2024 2023 Nole Charity fund• Restricted funds Unrestricted fijnds 18 18 401,382 1.805,218 298,042 1.513.121 Total funds 2,206,600 1,811,163 The Charity's net movement In fijnds for the year was £395,437 (2023- £453, 774). The Trustees acknowledge their responsibilitie5 for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by ihe Trustees on 11 December 2024 and signed on their behalf by.. T Willison (Chair of Trustees) The note$ on pages 25 to 54 fomi part of these financial statements. Page 23

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guararrtee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating activities Net cash used in operats'ng activities 714,768 313,229 Cash flows from investing activities Dividends, interests and rents from inveslrnents Purchase of tangible fixed a55els 18,794 1142,124) 16,348 (14,829) N•t ¢ash lused Inyprovlded by Investlng actlvlllos 1123,330) 1,519 Cash flo￿ from Ilnanclng a¢tlvltl N•t cash providod by financlng actlvltles Change In cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 591,438 314.748 1.353,237 1,038,489 Cash and cash equivalent• at the end of the year 1,944,675 1.353,237 The notes on pages 25 to 54 form part of these financial statement5 Page 24

PETER80ROUGH ENVIRONMENT CITY TRUST (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General inforniation As set out in the Trustee's Report, Peterborough Environment City Trust is a charitable company registered in England and Wale5. The principal office of the company is Ham Lane House, Harn Lane, Orton Waterville, Peterborough, PE2 5UU. The principal objective of the charitable company is to work with communities, schools, businesses, local authorities and voluntary organi5ations to deliver projects that help build sustainable comrnunits'es in Peterborough and beyond. Accountlng polleles 2.1 Basls ol prgparatlon of flnjnclal slatgmonts The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reports'ng Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019>, the Financial Reporting Standard applicable in the UK arid Republic of Ireland (FRS 102) and the Companies Act 2006. Peterborough Environment City Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Chanty and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The results of the Subsidiary that was being liquidated during the year have not been included within these financial statements. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not Presented its own Statement of Financial Acts'vitie5 in these financial statements. 2.2 Going concem The Trustees 85sess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may ¢asl significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authonsats'on for issue of the financial statements and have concluded that the charity has adequate resources lo continue in operational existence for the foreseeable future and there are no material uncertaintses about the charity's ability lo continue as a going COn￿rn, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Page 25

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Income All income is recognised once the Charity has entiuement lo the income. il is probable thal the income will be received and the amount of income receivable can be measured reliably. Grants are induded in ihe Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.Grants have been reclassified as Charitable Activities in the current year and accordingly the comparative has been restated. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the b'me ol the danalion. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the exlent the goods have been provided or on completion of the servicE. 2.4 Expendlturo Expenditure is recognis8d once there is a legal or constructive obligation to transfer economic benefit to a Ihird paty, It is probable that a transfer of economic benefits will be required in settlement and the amounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaknng each actsvity. Dire￿ costs attnbutable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned betsveen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitsble activities Is incurred on directly undertaking the activitses which further the Group's objectives. as well as any associated support G05ts. All expenditure is indusive of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on dep051t is included when receivable and the arnount can be measured reliably by the Group., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 26

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnued 2.6 T•nglble fixed a88•ts and depreciation Tangible fixed assets costing £1,000 or mare are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed a55ets are inits'ally recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cosl les5 accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be induded in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usefijl lives. using the straight-line method. Depreciation is provided on the following bases.. Motor vehides Fixtures and fittings Computer equipment 25Ok per annum on cost 150h and 250A per annum on cost 20•/o and 33% per annum on cost 2.7 Inv¢stmonl$ Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless Ihe value cannot be measured reliably in which case it is measured al cosl less impairment. Investment gains and losses. whether realised or unrealised. are combined and presented as 'GainsllLossesl on investments, in the Consolidated Statement of Financial Activities. Investment5 in subsidianes are valued al cost less provision for impairrnent. Investment propety is held at market value. 2.8 Dobtors Trade and other debtors are re￿gnIsed at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any Irade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investment5 With a short maturity of three months or less from the dale of acqui51tion or opening of the deposit or similar account. 2.10 Liabilities Liabilities are recognised when there is an obligation at the Balance Sheet date as a resull of a past event, il is probable that a transler of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay to settle the debt or the amount it has received as advanced payments for Ihe goods or services it must provide. Page 27

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies l¢ontinued) 2.11 Deferred taxatlon Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and ￿cOgnItIOn in the tax computation. A nel deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of Ihe underfying liming differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. 2.12 Fin3n¢ial instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequenuy measured at their settlement value. 2.13 Op•ratlng leases Rentals under operating leases are charged to the Consolidated Statement of Financial Activities on a Straight line basis over the lease term. 2.14 Fund accounllng General funds are unrestricted lunds which are available for use at the discretion ol the Trustees in fvrtherance of the general obiectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Reslricted funds are funds which are to be used in accordance with specifi¢ restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 28

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting polictes (continued) Crltlcal accountlng estlmates and areas of judgment Estimates and Judgments are conb'nually evaluated and are based on hi5tori¢al experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Crits'cal accounting estimates and assumpts'ons, The charity makes estimates and assumptions concerning the future. The results'ng accounting estimates and assumptions will, by definition, seldom equal the related actual results. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the finanaal statements are described below.. Allocation of costs Direct expenses are charged to individual cost centres wherever possible. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistenl with the use of those resources. Tangible fixed assets are recognised at cost or valuation, less accumulated depreciati'on and any impairment. Depreciation takes place over the estimated useful life, down to the assessed residual value. The carrying amount of the charity's tangible fixed assets is tested as soon as changed condition5 show that a need for impairment has arisen. The valuation ol freehold and investment property is based on the Trustees, evaluation of the market, which is judgemenlal and based on assumptions. At the 31 March 2023 the Trustee's commissioned an independent valuer lo provide an estimate of the market value of the propety al the balance sheet date. This estimated market value has been reflected in the financial statements. Page 29

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons andlogacies Unrestrl¢led Restrfcted fund$ funds 2024 2024 Total funds 2024 rotal funds 2023 Donations 14,452 6,580 21,032 15,492 Total 2023 10,289 5,203 15,492 Income from charltable actlvltle$ Unrestrfcted Restrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Environmenlal conseNation and proleth'on Grants Government grants 294,161 254,492 271.359 289,334 648.663 271,369 289,334 468,037 396, 105 532.212 Total 2024 294,161 815,185 1,109,346 1,396.354 Total 2023 292,056 1. 104,298 1,396,354 Income from tradlng actlvitles Income from non charitable trading activities Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Trading income (GES) 912,784 912,784 745,417 Total 2023 745,417 745,417 Page 30

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment incom• Unrestrlcted funds 2024 Total fund8 2024 Total funds 2023 Rental income Bank interest 9,669 9,125 9,669 9,126 13,657 2.691 Total 2024 18,794 18,794 16,348 Total 2023 16,348 16,348 Expenditure on raising funds Other tradlng exp•ns Unrestricted funds 2024 Total funds 2024 Total funds 2023 Cost of sales Administration expenses Administration staff cosls Administration depreciation 88.432 91,246 397,311 15,912 88,432 91.246 397.311 15,912 84,141 60.548 293, 658 10,241 Total 2024 592,901 592,901 448,588 Total 2023 448,588 448,588 Page 31

PETER80ROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysis of expenditure by actlvities Activities undertaken directty 2024 Support costs 2024 Total funds 2024 Total funds 2023 Environmental conser4ats.on and protection 192,166 885,159 1,077,325 1,273.378 Total 2023 303, 828 969,550 1,273,378 Analy•l8 ol dlrect co•t• Total funds 2024 Total funds 2023 Conferences and evenls Project costs Subcontract costs 3,845 70,739 117,582 4,328 97,411 208, 089 Total 2024 192,166 303,828 Page 32

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysi8 of •xpendilur• by actlvities Iconlinued) Anatysis of support costs Total funds 2024 Total funds 2023 Staff costs Depreciation Training Rent and rates Light. heat and power Insurance Repairs and maintenance Telephone and fax Computers Prints'ng, postage and stationary Cleaning Travel and subsistence Marketsng Provision for bad and doubtful debts Legal and professional fees Accountancy and bookkeeping fees Governance cosls - audit remuneration Other support costs Bank charges 695,219 6,225 12.165 10,533 5,932 5,938 8.648 1,332 22.448 2,818 3,306 13,658 16,14S 6,990 6,160 23,831 7,500 34,671 1,650 782. 180 2, 720 9, 723 11,065 5,916 3,457 5, 258 1,140 14, 709 2,598 2.800 17,035 40,611 23,493 6,302 3,283 7, 500 28.531 1,229 Total 2024 885,159 969.550 10. Audltors. remunerallon 2024 2023 Fees payable to ihe Charitys auditor for the audit of the Charity's annual accounts 7,500 7.500 Fees payable to the Charitys auditor in respect of.. All non-audit services not included above 4,594 3.283 Page 33

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. SL•ff c08t• Group 2024 Group 2023 Charity 2024 Charity 2023 Wages and salanes 1.092,630 1,075,838 695,219 782, 180 1,092,530 1,075,838 695,219 782, 180 During the year the Group made temination payments totalling £2,679 to 1 employee (2023- £nil). The average number of persons employed by the Charity during the year was as follows. Group 2024 Group 2023 Charlty 2024 Charity 2023 Management and administration Chantable activities 33 20 24 42 36 22 26 The number of employees whose employee benefils (excluding employer pension costs) exceeded £60,000 was.. Group 2024 Group 2023 No. In the band £60,001- £70,000 The total remuneration and benefits received by key management personnel was £79,648 (2023 - £58,667). 12. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). Dunng the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 34

PETERBOROUGH ENVIRONMENT CITY TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 13. Intanglble assets Group Goodwill Cost At 1 Aprll 2023 37.800 At 31 March 2024 37,800 Amortisation At 1 April 2023 37,800 At 31 March 2024 37.800 Net book value At 31 March 2024 At 31 March 2023 Page 35

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Tangibl• flxed a$$ets Group Motor Flxture8 and vehicles fittings Computer equipment Total Cost or valuatlon At 1 April 2023 Addition$ 4,000 127,190 69,590 13,284 24,673 1,650 98,263 142,124 At 31 March 2024 131,190 82,874 26,323 240,387 Deproclallon At 1 April 2023 Charge for the year 2,864 4,103 42,554 15,994 21,842 1,940 67,260 22,137 At 31 March 2024 7,067 58,548 23,782 89.397 Net book value At 31 March 2024 124,123 24,326 2,641 150,990 At 31 March 2023 1,136 27,036 2.831 31,003 Page 36

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Llmited by Guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Tangible flxed assets (contlnuedl Charity Motor Fixtures and vehicles fittings Computer equipment Total Cost or valuatlon At 1 April 2023 Additions 4,000 127,190 4,513 1,190 24.673 1.650 33,186 130,030 At 31 March 2024 131,190 5.703 26,323 163,216 Depreciatlon At 1 April 2023 Charge for the year 2,864 4,203 4,496 82 21,842 29,202 6,225 At 31 March 2024 7,067 4,578 23.782 35,427 Net book value At 31 March 2024 124,123 1,125 2,$41 127,789 At 31 March 2023 1, 136 17 2,831 3, 984 Page 37

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 S. Investment property Group and Charity Freehold inveslmenl property Valuatlon At 1 April 2023 210,000 At 31 March 2024 210,000 The Trustees. have considered the market value of the investment property at 31 March 2024 and are satisfied that there are no material changes to the valuation of £210,000 provided by an independent valuer in the previous year. Investments In subsldlary companles Charlty Cost or valuatlon Al 1 April 2023 Al 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Page 38

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Dobtorg Group 2024 Group 2Q23 Charity 2024 Charity 2023 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 419,501 339,369 223,993 310,590 10Z 74,208 67,960 278,261 3,205 81,702 433, 173 425,342 504,408 772,542 608,893 771,563 17. Creditors: Amounts falling due within one year Group 2024 Group 2023 Charity 2024 Charily 2023 Trade creditors Other taxation and social security other creditors Accruals and deferred income 37,308 105,267 55,358 70, 702 4, 844 279, 718 21,278 41,809 33, 780 17,410 4, 844 271,885 319,611 307,976 462,184 410,622 371,062 327,919 Group 2024 Group 2023 Charity 2024 Charity 2023 Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous penods 253,631 132, 238 299,976 253,631 1253,631) (132,238) 253,631 299,976 1253,631) 132,238 253, 631 (132, 238) 299,976 253,631 299,976 253, 631 Deferred income represents monies received in advance for various charitable projects and iiE membership. Page 39

PEfERBOROUGH ENVIRONMENT CITY TRUST (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of fund8 statement ol fund• - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expendlture Unrestrlcted funds Deslgnated funds Designated Funds 41,792 305,709 1298,72S) 26,812 75.S88 General fund8 General Funds Subsidiary Company Fund 1,471.329 143,849 21,698 912,784 (87,6481 1591,7531 324,251 (323,590) 1,729,630 141.290 1.615.178 934,482 1679,401 661 1,870,920 Total Unrestrlcted funds 1,656,970 1,240,191 1978,126) 27,473 1.946.508 Pa9e 40

PETER8OROUGH ENVIRONMENT CITY TRUST IA company Llmlt•d by Guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 18. Ststement of fun(18 I￿ntinUe￿I B•lance a11 Aprll 2023 Transfern Inlout 8Jl•nce al 31 March 2024 Incom• exp•nditur• R¢stricled funds Healthy SchcKJls Fo￿9t For Peterborough Tourism Maps COO.L Fc*)d & Cojl Fcod Pro Gfowng Communities Dcgsthorpe Eastern m￿1 Energy Bluepnnt JuThor Foresters JCC Green Recovery RSA Catsjn Reduct#)n NLOW Farm Twinning EDCD Clim•te Chango Viridcf Tian5fer from General Fund Community Fridge FDC Eco Chart•f FDC Heal Pump Ready Cambridgeshire Kanifing Bring it 8gck Wwm Hrn7es Easl Cambg Cook and Eat Green Ambassa(k)TS SENE PollSnator Parks Central LOT CHESS IUK PANZ Heat Pump Ready Ph85e 2 EOP ChampKJn 2023 EOP Regiorol Lead ￿23 Corin9 for Nature St Ive5 Micro Gnd WCAF LEAD Carnb5 Green Business PECT 30 for 30 Low Carbx 8u5ines5 Lincolnslure Green Skills etr)t¢amp UKPN Enewy measures 90.280 42,702 15,448 IS7,1801 9,287 138,5411 8,135 51.000 17,742 131,1191 128,1691 110,161 32.275 15,448 10,652 124,3381 15,1731 12,2891 127,5711 1811 12,521} 70,888 4,114 1,076 20,250 39.754 11.1861 1811 9.370 4,5 1,220 4,002 12.3321 14.517) 14,5601 1.￿3 12,7831 14,OJ21 14.9721 1103.7641 179 9,980 15,0081 122,228 14751 15241 36,646 18,464 9.880 3.050 19,5B41 13,0001 14251 122,9681 189,8041 14, 1841 14.4S61 12241 151,6501 12, 1091 112,7881 1123,0301 114,7721 158,3401 110,7761 {11,4961 15031 14,0821 119.9051 120.1481 141.1681 (36,6731 117,2131 14,3311 12711 326 136.2211 40,134 98.918 16.870 27.838 7,939 18,724 12,123 4,774 12,837 17,1161 1191 161 117,4981 1741 1211 8,324 7,108 14771 14,501 13181 112.6131 10,219 48.547 8,036 24.150 137.844 3,192 81,338 10.731 12,976 500 3,778 29.200 136.890 41.520 5,908 11,356 12,6841 111,6541 24,977 8.279 8.588 14801 114.1971 9.295 116.742 352 36.673 20.OLbJ 350 2.787 13,9811 1271) 298.042 821.765 1690,9S2} 127,473) 401,382 Total ol lunds 1.955.012 2.061.956 1.689,078 2.347,890 Page 41

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statemant of lunds IcoDtlnu8d} Deslgnated Funds Designated funds are general funds that the charity has designated to help specific projects run by the charity. Restricted Funds The deficit balances on re$tri¢led funds will be cleared by general funds al the end of the project. The negative fund balances within restricted Te8erve$ are covered by the transfer from general reserves at the balance sheet date. Healthy Schools Heatthy Schools.. Food Smart. The projecl is to support primary schools and earfy years sepéices lo adopt a po$itlve approach toward$ nulrlllon. Forest For Peterborough The prolect started in 2010 alming lo plant over 230,000 trees in and around the clly and surroundlng countryside by 2030. Tourlsm Maps Fund5 held for Petefborough Travel Choice from the sales of Peterborough Tourfsm maps. Fund to be used to promote and support sustainable travel across Pelerborough. COOL Food PRO The aim is creating an application to encourage caterers to making behaviour changes around their menus to inspire habi18 to reduce their carbon footprint. Growing Communities Dogsthorpe The project involves with residenls in the Gladstone area. Iranstomilng and enhancing 20 ¢ommun•l green spa￿$ into attractive, biodiver$e places. Ea•t•rn New Eneryy An ERDF funded proiect delivered under Priortly Axis 4 and focused on l¢)w Ca￿On. PECT is deliverlng an SME grant Scheme to support investment by small businesses in energy efficienw and renewabl¢ energy. Blueprlnt Working to ¢reale a circular economy and improve recycling rates across Petert)orough. Fundlng through the Interreg. Junior For•gtero Working with students to teach Ihem a range of foreslry-based skills and lo encourage them into nature. The course is designed to support them working as a new learn over a six-week period and getting hand8 on practice $kllls. Gvgen Recovery John Clare Countryside To work *ith communities. parishes and landowners to help support the doubling nalure objectives Ihrough a range of habitat creation programmes. Page 42

PETER8OROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 18. 8tatemgnl of funds {¢ontlnu¢dl RSA Carbon Redu¢tlon Empower and support individuals to make lifestyle changes to live more sustainably and reduce their carbon footprinl. Through training volunteers to act a5 Ambassadors lo share leamings and Inspire others within theii community lo live more sustainably, NLOW Farm Twinning Working to inspire schools and farmers lo create and enhance wildlife habitats at farnis viilhin the Cambridgeshire Fen8. ECDC Cllm•t• Chango Supporting East Cambridge District Council blith their climate change agenda. Vlrldor Supporting Forest lor Peterborough and B-Llne in the creation of improved habilal$. Communlty Frldge Fenland PECT have been working to identify an appropriate location and community to set up and nJn a community fridge wthin Whittlesey. Funder.. Fenland District Council. Eco Charter PECT'S Eco Charter supports environmental educatlon In schools., encouraging over 40,000 students a year lo think sustainably and colleclively reduce their impact on the environment. We act as a single point of contact for schools and other providers ta facilitate a collaborative and coordinated approach to sustainable education. Funder.. Indlvidual School8, Ea8t cambridgeshi￿ District Council, Fenland District Council H••t Pump RoJdy PECT support the development of oplimised deploymenl of domestic heat-pump5 in high-density areas.. using rural Cambridgeshire as a test bed for innovative technologies lo reduce costs to consumers, minimise barriers to uptake, improve Tepeatability ol performance and understand impacts on the national grid. PECT supported on Ihe community engagement and communications on the pragTamme. Funder.. City Science18EIS) Kanifing Stralegi¢ support relating to waste prevention and communty engagement with and for the Munieipality of Kanifing {KMCX) in the Gambia. Bring it Back Creation of a bring it back relum scheme in and around Peterborough wilh lunding from Hubbub arKI Sta￿ucks. Wami Home8 Distribution ol energy grants to fe$idenl$ across Cambridgeshire. Cook and Eat PECT offered heanhy cookery sessions alongside genlle gardening workshops, combining healthy eatin9 Wlth outdoor activity. Funder.. Hary Cureton Fund Page 43

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. 8tst•m•nt of funds {contlnu8d) Green Ambassado Programme of sustainability support and training for hospitalty businesses in Lincolnshire. SENE An ERDF funded project delivered under pnority axis 3 and focused on low ¢arbon. PECT is delivering the SME grants scheme lo support investment by SME in energy efficiency and renewable energy. Pollinator Parks Long term¥ fund lo support the creation of pollinator parks across Petert￿rou9h. C•ntr•l LOT Commercial aclivilie5. CHESS Tackling fuel poverty across Cambrldgeshire using funding from Energy Redresi. IUK PANZ Pelerborough Accelerating Net Zero, fvnded by Innovate UK, is researchlng appro•che8 to move towards a nel zero e￿nOMY. H¢at Pump Ready PECT support the development of oplirnised deploymenl of domestic heal-pumps in high-density areas.. using rural Cambridgeshire 85 a lesl bed for innovative technologies to reduce cost$ to Consumers, minimise barriers to uplake, improve ￿peatab11rtY of performance and understand impacts on the national gnd. PECT 5UPPOrted on the community engagement and communications on the programme. Funder.. City Science IBEISI EOP Champion and Regional Lead Working lo support energy Champions across East of England to deliver energy surgeries and provide energy advice to re$idenlJ. Carlng for Naturo A Skills Training project that offers young people and adults the opportunity to gain work experience in the environmental ¢onser4ation sector. The project offers &week courses lo unemployed adults and young people not in education or training INEETSI. The project offers participants the opportunity to leam about and restore the natural environment In the prolect area. St l¥•s Micro Grld Training and support to SME across St Ives on 5UStainable business practices. On Ya Blk• PECT are worklng to continue the positive active behavlour changes and encouraging as many new and old cyclists to feel safe and comfortable when out cyding around Pelerborough. Woodl•nd Cr•atlon Accelerator Fund The Woodland Creation Accelerator Fund is a government funded project between PeteTborough City Council and PECT. The project involves leading and coordinating targeted community engagemenl actsvities induding consultation support and tree plants.ng events. Page 44

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guor•nt¢e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ststement of funds (continued) LEAD Working with East Lindsey Dislnct Council, PECT were tasked wth delivering an electric van. fully filled out with a range of retrofrt measures that vlill travel around Lincolnshire taking energy-advice service to residents. Green Busin•ss lrnpact Project Working with Allia. the Green Busine55 Impact Programme aims to support local SMES in their efforts to reduce the carbon footprint of their operations, to understand ￿1¢h activities to prioTltise to have a higher impact on reducing their carbon footprint and to ernbed $u513inabilty into business operations and integrate dimale change into decision making. Organisations will be supported lo understand their ¢urrenl carbon eml$slons and develop 0 5 year Net Zero roadmap to help facililote Iheir sustainability journey. PECT 30 for JO PECT launched ils '30 for 30 fund, vthich saw grants ol between £250 and £1.000 being paid lo nearly SO communily-led projects across the Peterborough area. Low Carbon Buslness Lln¢olnshlre The Low Ca￿On Lincolnshire project is an ongoing workshop programme aiming lo support businesses in Lincolnshire and Ruuand to become more energy efficient and decrease their carbon output. Tailored workshops delivered by PECT are designed to help small and medlum sized businesses begin or conts'nue Iheir journey to net zero. Workshop topics include Net Zero. Decarbonisation, Energy Management and Supply Chains. Gr•en Sklll8 Bootcamp The Green Skills 8oolump programme comprlses 01 3 series ol Snlegrated modules Nthich take participants on a journey from gaining a broad understanding of sustainability through lo a delailed focu$ on environmental audtting and management and Cart*on Literacy. The Programme also covers key workplace and sustainability skills and kno￿edge lo support participants to become effective sustainability leaderg wherever they are in their career. UKPN Energy measures In addition lo PECT'S energy advice service projects, UKPN are funding the purchasing of energy efficiency improvement items. These indude LED bulbs, draughl proofing, and smart technology. These tems will be distributed lo households through phone calls and home visits. The airn of distributing these tems Is lo Improve the comfort of service users home and reduce their eneryy bills and energy usage. Page 45

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds Icontinuedl ststement of funds - prlor yfrar Balance at 31 March 2023 Balance at l April 2022 Trnnsfers in/out Gain (Losses) Income Expendilure Unrestrictod funds D••ign•t•d funds Designated Fundj 9, 502 302.345 (263,983) (6,072) 41,792 G•n•ral lund• General Funds Subsidiary Company Fund 1,(7J3.298 16.348 441,683 10,000 1,471,329 135,901 745,417 (458,588) (278,881) 143,849 1,139,199 761,765 (458,588) 162,802 10,000 1,615, 178 Total Unrastrict•d fund¥ 1, 148, 701 1,064. 110 (722,571) 156, 730 10.000 1.656,970 Page 46

PETER80ROUGH ENVIRONMENT CITY TRUST IA Com￿￿¥ Llmlt•d by Guar•ntrel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. St•tement of lund$ l¢ontinuetl) 84lance al I April 2ff22 Trnnsfe /out G8ins/ (Los$e$J Balance 8131 Marth W23 Incom Exp•ndilurn Restrlcted funds Healthy Schcnls MEES Warm HM)es Fenlond 2018 Forest Fof Petefborwgh ToLtrism Maps Fenlond Wildlife Cwridcn COO.L FocJ & Cool F￿d Pro B-Liros Whitemill Fenland EKCT Pollinatsng Peterbuough Grwn9 CommunlO•$ Do9slhorp• Eastern New Energy BESN Champon 2020 BESN Rogional Lead 2020 BGL Volunteer Support Bluepn'nt Community Fridges Marth Env9y Red￿￿9 Gwrt R8e4very For¢st lor P•lerboroLtgh John Cl&r• CounlrysNl0 Junior Forestefs UKPN Cambridge BuBirss Lincolnshire JCC Green Recovery RSA Cathn Reducti BESN Regional Champion 2021 8ESN R•gion81 L•&d 2027 NLOW Farn TI￿nnIng EDCO Climate Change AW Water Efficiency Winter Energy Grant8 Wondei Woman W8rm Hc¥nes Cambrithje 2022 Viridor Tianslei frryn General Fund Community Fridge FDC E¢0 Charter FOC Heat Pump Ready Cambridgeshire BESN charnpt￿ 2022 8ESN Regional Le8d 2022 Kanifing Brng it Ba Wami Homes East Cambs Cook Eat Green Ambassadors 61,934 35,343 39.626 31.353 15.448 4.344 (23,382) {15.￿6) (2,604) 2,323 I6.￿3 {109.056J 1,344 56,332 f33.986) 90.2 (35,343) (31,534) 6, T59 (8, 142J 14.543 I9.9￿} 42. 702 IS448 (4,344) .188 (123,986) (20,348) (57. IW) 1,704 289 (2,323) 2.315 (T.006) (106. 734) 9,287 (34541) 17T.249 (1,344) (1,085) (148) 148 f17.919J 1.077 f12.J66J {T,921J 2, 721 3, 184 2,318 (1.824J 96.958 6.959 3.801 {10. 743) 1,313 1.812 (1,222) 2,358 245 3.516 215.430 (191,376) 113S (I,OT7) 11,058 5,851 2.2S5 (2,621) (2,318) 1,824 (2,255) 74.661 19,280 (73,3531 (IT,2101 14,976) f563) 81.011 (166,343) (2,399) (390) 9,3TO 4.560 {3,411) 4,256 6.487 3, 125 11.375 (3.218) (9.245) f16, 138) 14. 178) (381 (9,384) (1,298) 1.220 4.CQ2 (2,640) 1,820 (274) (9,465? (1. 796) (82,231) fj7 15.333 202,852 1,607 122,228 (475) (524) 36.646 (475) (524) (9.988) f12, 151) (2.696) (296) f80, 194) (10,949) (186) (2. 113) 46,634 15, 726 12,975 (3,569) {10,279) (296) 18.724 12. 123 4.774 12.837 98,918 23,072 4.960 14.959 Page 47

PETER8OROUGH ENVIRONMENT CITY TrUST {A company Llmlt•d by Gu•rnnte¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Stat•m•nt of lund• Icontlnu•dl Balance at i April 2022 rrnnsle In/out Gain (Lossésj 8olan¢e at 31 2023 Incom? Expendrturn SENE Pdlinalor Paths C￿traI LOT CHESS IUK PANZ Heal Pump Ready Phase 2 EOP Charnpw 2023 EOP Region81 L•ad 2023 Canng lor Naluie Sl Ives Micro Grid On Y• Bik• 33,407 900 (40,523) (919) (6) (6,575) (74) (21) (7, 116) flg) {6) (17.498) (74) (21) 8,324 7. 108 (477) 135 (11,058J 8,324 7, 108 (4771 fll.7273 (17,423) 26.228 16,286 f, 137 344.666 1. 109,501 1999,395) (156. 730) 298.042 To￿1 ol lun0• 1,493.J67 2. 1 TJ,011 1.721,966 10.000 1, 9SS,012 PagE 48

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Lifflited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Summary of funds Summary of funds . current year Balan¢• It 31 March 2024 Balance at 1 April 2023 Transfers inlout Incom• Expenditure Designated lunds General funds 41,792 1,615,178 298,042 305,709 934.482 821,765 1298,7251 1679,401) (690,9521 26,812 661 75,588 1.870,920 401,382 Reslncled funds 127,473) 1,955,012 2,061,956 11,669,078> 2,347,890 Summary ol funds - prlor ye•r Balance al 31 March 2023 8alanG8 al 1 Apnl 2022 Translers Mvout Gains/ (Losses) Incorne Exp8nditurn Oesignaled funds General fund8 Restricted funds 9,502 1, 139, 799 302,345 761, 765 (263, 983) {458, 588) (6,072) 162,802 41,792 1,615, 178 10,000 344,666 1. 109,501 f999,395J (156, 730) 298,042 1.493,367 2,173,611 (1, 721, 966) 10,000 1.955,012 Page 49

PETER8OROUGH ENVIRONMENT CITY TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. An•lysis of n•t •$s•ts botw••n funds Analysis of net assets between funds . currenl period Unrestrlcted Restrlcted funds funds 2024 2024 Tolal funds 2024 Tangible fixed assets Investment property Current assets Creditors due within one year 52.398 210,000 1,985.750 1301,640) 98,592 150,990 210,000 2,449.084 1462,184) 463.334 {160,544) Totsl 1,946.508 401.382 2,347,890 Analy¥ls of net assets bel￿n fund• - prlor perlod Unreslncted funds 2023 Reslncted lunds 2023 Total runds 2023 Tangible fixed assets Investment property Current assets Creditors due within one year Provi￿OnS for liabilities and charges 31,003 210.000 1,707.656 (290,541) (1, 148) 31,003 210.000 2.125, 779 (410,622) (1, 148) 418,123 (120,081) Total 1,656,970 298,042 1,955,012 Page SO

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limited by Gvar•ntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 21. Reconclllatlon of n•1 mov•ment in lunds to nel cash Ilow from operating actlvltl•s Group 2024 Group 2023 Nel income for the period (as per Statement of Financial Activities) 392,878 461,645 Adju8trThenls for: Depreciation charges Galng on investments Dividends, interests and rents from investments Loss on the Sale of fixed assets Decreasellincreasel in debtors Increase in creditors Decrease in deferred tax provision 22.137 12,741 (10,000) (16,348) 230 (284,621) 149,582 (10,794) 268.133 51,562 N•t c••h provld•d by op•ratlno aetSvlll•8 714,768 313,229 22. AnalyiS9 of ca•h •nd ca4h •qulval•nts Group 2024 Group 2023 Cash In hand 1,944.675 1,353,237 Total cash and cash equlval•nts 1,944,675 1,353,237 23. Analysls of ¢hanges In net debt At 1 April 2023 Cash flow5 At 31 March 2024 Cash al bank and in hand 1,353,237 591,439 1,944,676 1,353,237 591,439 1,944,676 Page 51

PETERBOROUGH ENVIRONMENT cirrf TRUST (A Company Limited by Guar•ntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 Operating lease commitments At 31 March 2024 the Group and the Charity had commitments to make future minimum lease payments under nOn￿ncelIable operating leases as follows.. Group 2024 Gmup 2023 Charlty 2024 Charlty 2023 Amounts payable Not later than 1 year Later than 1 year and not later than 5 years 17,618 75,198 5, 645 17,618 75,198 5, 645 92.816 5, 645 92,816 5,645 Group 2024 Group 2023 Company 2024 Company 2023 Amounts recelvable Not later than 1 year Later than 1 year and not later than 5 years 15,600 16,500 7,200 6,600 15,600 16,500 7,200 6,600 32,100 13.800 32.100 13,800 Page 52

PETERBOROUGH ENVIRONMENT CITY TRUST IA Company Limit•d by Guarant¢¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 25. Related party iransa¢tlons Hegarty Sollcltov8 (A Sutherland, a trustee of the charity 1$ also a Director of the above) Peterborough Environment City Trust made sales to Hegarty LLP Solicitors of £nil {2023 - £1,1981- Peterborough Environment City Trust made purchases from Hegarty LLP Solicitors of £3,291 (2023 £1,500). At the balance sheet date, there is £nil due from Hegaty LLP Solicilors12023- £1.198). Gr•0n En•rgy SvAtch Llmltgd (Subsidiary company) Pelefborough Environment City Trust made sales I re¢harge8 to Green Energy Switch Limited of £11,545 {2023 - £10,620). There was an obligation al the year-end for Green Energy Switch to gift-aid the lower of their taxable and dislTibutable profits for the year to Peterborough Environment Cty Tnjsl, and therefore a balance ol £310,590 is owed from the subsidiary company lo the parent company al the year-end, Page 53

PETERBOROUGH EPWIRONMEFIT CITY TRUST IA Compary Limll•d by Guarnnt••l NOTES TO THE FINANCIAL 8TATEMENT8 FOA THE YEAR EP4DED 31 IIARCII 2024 Tho f0lbv￿g￿• • und•rt•king ofth• Ch•rhy.' N•m• ¢ornp•ny Grt•n 2n•igy S*)tch Lwnlle 06625282 Ordln•ry Nim• In¢om• Exp•ndMur• I Surplu¥l ¢h• y•4r Gi88n Energy S%%ii¢h Lim￿¢0 912,7 309,411 141.291 P•oe 54