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2025-03-31-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 2025

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 7
Trustees' Responsibilities Statement 8
Independent Auditors' Report on the Financial Statements 9 - 13
Consolidated Statement of Financial Activities 14
Consolidated Balance Sheet 15 - 16
Charity Balance Sheet 17 - 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 - 47

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 2025

Trustees P Brotherton
J Cole
P Hansen
P Holland (appointed 2 April 2025)
A Sutherland
S Trewhella
C Walker-Harrison
T Willison, Chair
G Wright
Company registered
number
02834975
Charity registered
number
1023929
Registered office
Ham Lane House
Ham Lane
Orton Waterville
Peterborough
PE2 5UU
Company secretary
A Sutherland
Chief executive officer
S Dawks
Independent auditors
Streets Audit LLP
Chartered Accountants and Statutory Auditors
38 Tyndall Court
Commerce Road
Lynch Wood
Peterborough
Cambridgeshire
PE2 6LR
Bankers
National Westminster Bank PLC
PO BOX 15
Cathedral Square
Peterborough
Cambridgeshire
PE1 1HW
Solicitors
Hegarty LLP
48 Broadway
Peterborough
Cambridgeshire
PE1 1YW

Page 1

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance 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 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

PECT exists to create sustainable places where the environment and communities can thrive together. The charity’s mission is to protect and enhance the environment throughout Peterborough and beyond, by encouraging practical action and supporting systemic change across communities, education and business.

To achieve these aims, PECT delivers a broad programme of activities focused on four interconnected areas: protecting and restoring the natural environment, improving public health and wellbeing through nature-based approaches, embedding environmental education at all levels of learning, and enabling clean growth through sustainable business and skills development.

b. Strategies for achieving objectives

Over the course of the 2024/25 year, PECT delivered more than 40 impactful projects that responded to the challenges of climate change, biodiversity loss, fuel poverty, and unsustainable consumption. These projects reflected the closing year of PECT’s 2020–2025 strategy, which has guided the charity’s direction over the past five years. A new three-year strategy for 2025–2028 has been developed to build on this work and respond to emerging needs.

The Trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit when setting the charity’s aims and objectives and in planning and reviewing its activities.

PECT delivers public benefit by making environmental action accessible and meaningful to a wide audience. The charity’s work supports low-income and vulnerable households to reduce energy costs, provides free and low-cost resources for schools and educators, restores green spaces for community use and biodiversity, and enables local businesses to transition towards more sustainable operations.

All activities are designed to maximise social as well as environmental outcomes, with a strong emphasis on fairness, inclusion and long-term impact.

Achievements and performance

a. Review of activities

This has been a year of strong performance and tangible impact for PECT. We supported over 1,000 households across Cambridgeshire with energy advice, retrofitting measures and financial assistance through our fuel poverty programmes, including CHESS, Energy Outreach, and Heat Pumps for Friday Bridge.

Page 2

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

In education, PECT continued to lead on national environmental learning. Our Healthy Schools programme embedded health and sustainability in schools across Cambridgeshire, while the launch of our Climate Education platform created new opportunities for educators and young people to engage with climate change through curriculum-aligned content and practical action.

Our biodiversity and nature-based programmes made a significant contribution to restoring local ecosystems. Forest for Peterborough reached its annual tree-planting target and our new Tree Nursery in Castor was established to support future planting and community engagement. Further habitat improvement work took place through John Clare Countryside and Pollinator Parks, increasing biodiversity and access to nature for local communities.

PECT maintained a strong presence in the business sector through Investors in the Environment and projects such as the Green Business Improvement Programme and Peterborough Accelerating Net Zero. We also helped to upskill over 100 people through green skills Bootcamps delivered in partnership with local authorities, with participants trained in areas such as retrofit, energy efficiency, and environmental consultancy.

Circular economy initiatives, including Bring it Back and the Central Library of Things, enabled local residents to borrow rather than buy, reducing waste and encouraging sustainable consumption habits.

b. Investment policy and performance

Under the Memorandum and Articles of Association, the charity has the power to make any investment that the Trustees see fit.

Financial review

a. Going concern

The Trustees have assessed the charity’s financial position and are satisfied that PECT has adequate resources to continue in operational existence for the foreseeable future. As such, the financial statements have been prepared on a going concern basis. The assessment takes into account current reserves, income diversification, active pipeline management, and the ability to scale expenditure if required.

b. Reserves policy

During the year, PECT generated income from a combination of grant funding, commissioned contracts, consultancy services, and trading income through its wholly owned subsidiary, Green Energy Switch Ltd (GES). GES continues to make a significant contribution to PECT’s financial sustainability through annual Gift Aid payments.

For the financial year ended 31 March 2025, PECT recorded total income of £1,793,175 and total expenditure of £1,352,174. At year-end, total reserves stood at £2,815,380 of which £2,353,167 were unrestricted.

The charity maintains a Reserves Policy to ensure financial stability and operational continuity in the event of unforeseen circumstances. The policy is reviewed annually by the Board. As of March 2025, the target level of free reserves is £245,000, representing approximately three months of core operational expenditure. At yearend, the charity’s free reserves were in line with this target, providing a secure financial base for delivering charitable activities and managing potential risks.

Page 3

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

c. Material investments policy

PECT adopts a cautious approach to investments. The charity does not hold long-term or speculative investments and instead maintains cash reserves in interest-bearing accounts with reputable UK financial institutions. The Board of Trustees reviews banking arrangements and interest rates regularly to ensure prudent financial management. The charity does not currently invest in equities or third-party funds but may consider ethical investment opportunities in future, subject to Board approval and alignment with its environmental values. PECT holds an investment property valued at £210,000 which is included within note 15 of the financial statements.

d. Principal risks and uncertainties

The charity operates a comprehensive risk management framework overseen by the Board and Senior Leadership Team. Risks are reviewed on a quarterly basis and mitigation plans are in place to address key issues.

Key risks include the loss of key funding streams, rising costs, and uncertainty in public sector commissioning. These are managed through proactive diversification of income, strong financial controls, and active engagement with funders and stakeholders.

Operational risks, including staff capacity and cyber security, are addressed through training, succession planning, investment in IT systems, and robust internal policies.

PECT continues to monitor the external environment closely, particularly in relation to political and economic changes that could affect funding, regulation, or demand for services.

e. Principal funding

The principal funding for the charity has been the grants received from a range of funders for charitable activities.

Structure, governance and management

a. Constitution

PECT is a charitable company limited by guarantee and does not have share capital. The charity is governed by its Memorandum and Articles of Association dated 9th July 1993 and amended on 30th January 2019. In accordance with these documents, all Trustees who are members of the company guarantee to contribute £1 in the event of a winding up. PECT is also the parent of Green Energy Switch Limited (GES), a wholly owned trading subsidiary.

b. Methods of appointment or election of Trustees

The Board of Trustees is responsible for the overall governance and strategic direction of the charity, ensuring that its activities remain aligned with its charitable purposes and legal obligations. Trustees are also directors of the charitable company for the purposes of company law. Under the Articles of Association, one third of the Board is required to retire at each Annual General Meeting by rotation, based on those longest in office since their last appointment, though retiring members may stand for re-election.

Page 4

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

Currently Strategic direction is shaped by the charity’s Members, which includes the Board members. The wider membership is engaged twice yearly at scheduled meetings and regularly through communications with the executive team.

At the Annual General Meeting held in 2024, the company members voted to adopt revised Articles of Association. These changes transitioned the charity to a fully trustee-led structure, removing the wider company membership and placing governance solely with the Board of Trustees. The revised Articles are being submitted to the Charity Commission for formal registration and will underpin a streamlined, modernised governance framework for the charity going forward.

The day-to-day management of the charity is delegated to the Chief Executive, who is appointed by the Board. The Chief Executive has authority to make operational decisions in areas including finance, staffing, project delivery and key performance monitoring, within the framework of policies and delegations approved by the Board.

Green Energy Switch Limited is governed by its own Board of Directors, comprising Stuart Dawks (PECT Chief Executive), Sarah Buttigieg (GES Director of Operations), Ashley Sutherland (PECT Trustee), and Steven Trewhella (PECT Trustee). The trading subsidiary operates commercially and donates its profits to PECT via Gift Aid to support the charity’s core mission.

d. Policies adopted for the induction and training of Trustees

Trustees are appointed through a process of skills-based recruitment, reflecting the needs of the charity and its future direction. New Trustees are provided with an induction programme that includes information about the charity’s governance, vision and mission, policies, and operational structures. They are also invited to participate in community projects such as tree planting, educational events and sustainability awards, to gain a deeper understanding of the charity’s work. Ongoing training is offered when appropriate.

e. Pay policy for key management personnel

The pay of senior staff is determined at Board level and is reviewed to ensure it remains fair, competitive and aligned with sector benchmarks. Details of remuneration for key management personnel are disclosed in Note 11 of the financial statements.

All members of the Board serve on a voluntary basis and received no remuneration or benefits from the charity. No expenses were reclaimed by Trustees during the year ended 31 March 2025.

Page 5

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

f. Related party relationships

PECT maintains open relationships with all Trustees and their associated organisations.Trustees are required to declare any interests at the start of each Board meeting, and a register of interests is maintained. The charity works closely with a number of organisations with which Trustees are affiliated, including:

Peter Brotherton

Natural England - Director of Science The British Ecological Society – Committee Member Peterborough Cathedral – Lay Canon

Penny Hansen

Peterborough Cultural Alliance – Board Member

Pete Holland

East Mercia Rivers Trust - Trustee

James Cole

The Partnering Initiative – Trustee University of Cambridge Institute for Sustainability Leadership – Executive Director

Ashley Sutherland

Hegarty LLP Solicitors (Partner) Green Energy Switch Ltd (Director)

Steven Trewhella

Rivelin Bridge Ltd - Director Green Energy Switch Ltd – Director

Chloe Walker-Harrison

Knowledge Transfer Network Ltd (T/as Innovate UK Business Connect) – Company Secretary

Toby Willison (Chair)

Wessex Water - Director of Strategy Temple Group - Strategic Adviser British Water - Non-Executive Director

Gemma Wright

Azets Accountants – Associate Director

None of the Trustees have any beneficial interest in the charity. Transactions with related parties are disclosed in Note 26 to the financial statements.

Page 6

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

Plans for future periods

Looking ahead, PECT will launch a new three-year strategy that builds on the progress of the past five years. This strategy will focus on deepening impact, scaling successful models, and increasing the resilience of communities in the face of environmental and economic pressures.

Key priorities will include expanding nature recovery and urban greening initiatives, further developing climate education in schools, growing our support for vulnerable households through targeted energy interventions, and enhancing green job pathways through training and employer engagement.

PECT will also explore new partnerships, strengthen our digital capacity, and invest in the development and wellbeing of our team. At the heart of our future plans is a commitment to fairness, collaboration, and creating places where both people and nature can flourish.

Funds held as custodian

At the end of the year, PECT held £15,448 on behalf of another charitable entity for the purpose of maintaining and distributing Tourism Maps (2024: £15,448). These funds are not available for general charitable use and are reported separately.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ T Willison (Chair of Trustees)

Date: 17/12/2025

Page 7

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial 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 that period. In preparing these financial statements, the Trustees are required to:

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 assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on its behalf by:

................................................ T Willison (Chair of Trustees)

Date: 17/12/2025

Page 8

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST

Opinion

We have audited the financial statements of Peterborough Environment City Trust (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting 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 Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (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 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 9

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED)

Other information

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 information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 10

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the 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 preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 11

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page 12

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PETERBOROUGH ENVIRONMENT CITY TRUST (CONTINUED)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware 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 misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate 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: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to 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 that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Anderson BSc FCA (Senior Statutory Auditor)

for and on behalf of

Streets Audit LLP

Chartered Accountants and Statutory Auditors 38 Tyndall Court Commerce Road Lynch Wood Peterborough Cambridgeshire PE2 6LR

Date: 9 January 2026

Page 13

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net income before taxation
Taxation
Net income after taxation
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
20,447
395,635
1,068,585
51,334
1,536,001
758,908
389,765
1,148,673
387,328
-
387,328
19,331
406,659
1,946,508
406,659
2,353,167		 Restricted
funds
2025
£
25,400
1,017,171
-
-
1,042,571
-
962,409
962,409
80,162
-
80,162
(19,331)
60,831
401,382
60,831
462,213		 Total
funds
2025
£
45,847
1,412,806
1,068,585
51,334
2,578,572
758,908
1,352,174
2,111,082
467,490
-
467,490
-
467,490
2,347,890
467,490
2,815,380		 Total
funds
2024
£
21,032
1,109,346
912,784
18,794
2,061,956
592,901
1,077,325
1,670,226
391,730
1,148
392,878
-
392,878
1,955,012
392,878
2,347,890

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 47 form part of these financial statements.

Page 14

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee) REGISTERED NUMBER: 02834975

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Investment property
15
Current assets
Debtors
16
Investments
17
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Net assets
Total net assets		 643,131
700,000
1,480,400
2,823,531
(383,148)		 2025
£
40,291
124,706
210,000
374,997
2,440,383
2,815,380
2,815,380
2,815,380		 504,408
-
1,944,676
2,449,084
(462,184)		 2024
£
-
150,990
210,000
360,990
1,986,900
2,347,890
2,347,890
2,347,890

Page 15

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 02834975

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

2025 2024
Note £ £
Charity funds
Restricted funds 19 462,213 401,382
Unrestricted funds 19 2,353,167 1,946,508
Total funds 2,815,380 2,347,890

The Trustees acknowledge their responsibilities 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 the Trustees and signed on their behalf by:

................................................

T Willison

(Chair of Trustees)

Date: 17/12/2025

The notes on pages 20 to 47 form part of these financial statements.

Page 16

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee) REGISTERED NUMBER: 02834975

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
14
Investments
Investment property
15
Current assets
Debtors
16
Investments
17
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Net assets
Total net assets		 698,466
700,000
1,222,555
2,621,021
(297,315)		 2025
£
114,432
1
210,000
324,433
2,323,706
2,648,139
2,648,139
2,648,139		 608,893
-
1,630,979
2,239,872
(371,062)		 2024
£
127,789
1
210,000
337,790
1,868,810
2,206,600
2,206,600
2,206,600

Page 17

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 02834975

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

2025 2024
Note £ £
Charity funds
Restricted funds 19 462,213 401,382
Unrestricted funds 19 2,185,926 1,805,218
Total funds 2,648,139 2,206,600

The Charity's net movement in funds for the year was £ 441,539 (2024 - £395,437) .

The Trustees acknowledge their responsibilities 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 the Trustees and signed on their behalf by:

................................................

T Willison

(Chair of Trustees)

Date: 17/12/2025

The notes on pages 20 to 47 form part of these financial statements.

Page 18

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 20 to 47 form part of these financial statements		 2025
£
259,423
51,334
(75,032)
(23,698)
-
235,725
1,944,675
2,180,400		 2024
£
714,768
18,794
(142,124)
(123,330)
-
591,438
1,353,237
1,944,675

Page 19

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

As set out in the Trustee's Report, Peterborough Environment City Trust is a charitable company registered in England and Wales. The principal office of the company is Ham Lane House, Ham Lane, Orton Waterville, Peterborough, PE2 5UU.

The principal objective of the charitable company is to work with communities, schools, businesses, local authorities and voluntary organisations to deliver projects that help build sustainable communities in Peterborough and beyond.

2. Accounting policies

2.1 Basis of preparation of financial statements

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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and 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 Charity 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 Activities in these financial statements.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast 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 authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 20

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but 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 time of the donation.

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 extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount 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 undertaking each activity. Direct costs attributable 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 between 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 charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount 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 21

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.6 Intangible assets and amortisation

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following bases:

Computer software - 25 % per annum
Goodwill - 20 % per annum

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included 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 useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Motor vehicles - 25% per annum on cost
Fixtures and fittings - 25% per annum on cost
Computer equipment - 33% per annum on cost

2.8 Investments

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 the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Investment property is held at market value.

Page 22

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer 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 it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.12 Financial 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 subsequently measured at their settlement value.

2.13 Operating 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 accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives 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.

Restricted funds are funds which are to be used in accordance with specific 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 23

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting 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 financial 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 consistent with the use of those resources.

Tangible fixed assets are recognised at cost or valuation, less accumulated depreciation 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 conditions show that a need for impairment has arisen.

The valuation of freehold and investment property is based on the Trustees' evaluation of the market, which is judgemental and based on assumptions. At the 31 March 2023 the Trustee's commissioned an independent valuer to provide an estimate of the market value of the property at the balance sheet date. This estimated market value has been reflected in the financial statements.

Page 24

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Income from donations and legacies

Donations
Total 2024		 Unrestricted
funds
2025
£
20,447
14,452		 Restricted
funds
2025
£
25,400
6,580		 Total
funds
2025
£
45,847
21,032		 Total
funds
2024
£
21,032

5. Income from charitable activities

Environmental conservation and protection
Grants
Government grants
Total 2025
Total 2024		 Unrestricted
funds
2025
£
395,635
-
-
395,635
294,161		 Restricted
funds
2025
£
316,254
261,517
439,400
1,017,171
815,185		 Total
funds
2025
£
711,889
261,517
439,400
1,412,806
1,109,346		 Total
funds
2024
£
548,653
271,359
289,334
1,109,346

6. Income from trading activities

Income from non charitable trading activities

Trading income (GES)
Total 2024		 Unrestricted
funds
2025
£
1,068,585
912,784		 Total
funds
2025
£
1,068,585
912,784		 Total
funds
2024
£
912,784

Page 25

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Investment income

Unrestricted
funds
2025
£
Rental income
16,921
Bank interest
34,413
Total 2025
51,334
Total 2024
18,794		 Total
funds
2025
£
16,921
34,413
51,334
18,794		 Total
funds
2024
£
9,669
9,125
18,794

8. Expenditure on raising funds

Other trading expenses

Unrestricted
funds
2025
£
Cost of sales
57,573
Administration expenses
158,070
Administration staff costs
536,685
Depreciation & amortisation
6,580
Total 2025
758,908
Total 2024
592,901		 Total
funds
2025
£
57,573
158,070
536,685
6,580
758,908
592,901		 Total
funds
2024
£
88,432
91,246
397,311
15,912
592,901

Page 26

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities

Environmental conservation and protection
Total 2024		 Activities
undertaken
directly
2025
£
302,646
192,166		 Support
costs
2025
£
1,049,528
885,159		 Total
funds
2025
£
1,352,174
1,077,325		 Total
funds
2024
£
1,077,325

Analysis of direct costs

Conferences and events
Project costs
Subcontract costs
Total 2025		 Total
funds
2025
£
9,965
59,497
233,184
302,646		 Total
funds
2024
£
3,845
70,739
117,582
192,166

Page 27

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Training
Rent and rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Computers
Printing, postage and stationary
Cleaning
Travel and subsistence
Marketing
Provision for bad and doubtful debts
Legal and professional fees
Accountancy and bookkeeping fees
Governance costs - audit remuneration
Other support costs
Bank charges
Total 2025
10.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above		 Total
funds
2025
£
820,651
36,135
14,457
19,694
12,046
5,795
16,646
1,468
19,418
3,170
6,118
10,297
34,807
2,548
8,095
3,875
10,000
22,041
2,267
1,049,528
2025
£
10,000
5,646		 Total
funds
2024
£
695,219
6,225
12,155
10,533
5,932
5,938
8,648
1,332
22,448
2,818
3,306
13,658
16,145
6,990
6,160
23,831
7,500
34,671
1,650
885,159
2024
£
7,500
4,594

Page 28

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Staff costs

Wages and salaries Group
2025
£
1,357,336
1,357,336		 Group
2024
£
1,092,530
1,092,530		 Charity
2025
£
820,651
820,651		 Charity
2024
£
695,219
695,219

During the year the Group did not make any temination payments (2024 - £2,679 to 1 employee).

The average number of persons employed by the Charity during the year was as follows:

Management and administration
Charitable activities		 Group
2025
No.
3
38
41		 Group
2024
No.
3
39
42		 Charity
2025
No.
2
22
24		 Charity
2024
No.
2
20
22

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 - 1
In the band £70,001 - £80,000 1 -

The total remuneration and benefits received by key management personnel was £83,093 (2024 - £79,648).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 29

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Intangible assets

Group

Cost
At 1 April 2024
Additions
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Computer
software
£
-
58,600
58,600
-
18,309
18,309
40,291
-		 Goodwill
£
37,800
-
37,800
37,800
-
37,800
-
-		 Total
£
37,800
58,600
96,400
37,800
18,309
56,109
40,291
-

Computer software represents the cost of developing Green Energy Switch's web portal and is being amortised on a straight line basis over 4 years.

Page 30

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Tangible fixed assets

Group

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Motor
vehicles
£
131,190
-
(4,000)
127,190
7,067
31,932
(4,000)
34,999
92,191
124,123		 Fixtures and
fittings
£
82,872
25,605
(39,288)
69,189
58,548
6,580
(25,743)
39,385
29,804
24,324		 Computer
equipment
£
26,322
1,707
-
28,029
23,779
1,539
-
25,318
2,711
2,543		 Total
£
240,384
27,312
(43,288)
224,408
89,394
40,051
(29,743)
99,702
124,706
150,990

Page 31

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Tangible fixed assets (continued)

Charity

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Motor
vehicles
£
131,190
-
(4,000)
127,190
7,067
31,932
(4,000)
34,999
92,191
124,123		 Fixtures and
fittings
£
5,701
21,072
-
26,773
4,578
-
2,665
7,243
19,530
1,123		 Computer
equipment
£
26,322
1,707
-
28,029
23,779
1,539
-
25,318
2,711
2,543		 Total
£
163,213
22,779
(4,000)
181,992
35,424
33,471
(1,335)
67,560
114,432
127,789

Page 32

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Investment property

Group and Charity

Valuation
At 1 April 2024
At 31 March 2025		 Freehold
investment
property
£
210,000
210,000

The Trustees' have considered the market value of the investment property at 31 March 2025 and are satisfied that there are no material changes to the valuation of £210,000 provided by an independent valuer in the year ended 31 March 2023.

Charity
Cost or valuation
At 1 April 2024
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Investments
in
subsidiary
companies
£
1
1
1
1

Page 33

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2025
£
403,407
-
102
239,622
643,131		 Group
2024
£
419,501
-
3,205
81,702
504,408		 Charity
2025
£
198,514
267,538
102
232,312
698,466		 Charity
2024
£
223,993
310,590
102
74,208
608,893

17. Current asset investments

Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Unlisted investments (liquid) 700,000 - 700,000 -

Page 34

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 Group
2025
£
71,392
99,712
212,044
383,148
Group
2025
£
299,976
194,630
(299,976)
194,630		 Group
2024
£
37,306
105,267
319,611
462,184
Group
2024
£
253,631
299,976
(253,631)
299,976		 Charity
2025
£
59,521
28,995
208,799
297,315
Charity
2025
£
299,976
194,630
(299,976)
194,630		 Charity
2024
£
21,278
41,809
307,975
371,062
Charity
2024
£
253,631
299,976
(253,631)
299,976

Deferred income represents monies received in advance for various charitable projects and iiE membership.

Page 35

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Designated Funds
General funds
General Funds
Subsidiary company
Total Unrestricted funds		 Balance at 1
April 2024
£
75,589
1,729,629
141,290
1,870,919
1,946,508		 Income
£
408,508
58,908
1,068,585
1,127,493
1,536,001		 Expenditure
£
(372,993)
(16,772)
(758,908)
(775,680)
(1,148,673)		 Transfers
in/out
£
326
302,731
(283,726)
19,005
19,331		 Balance at
31 March
2025
£
111,430
2,074,496
167,241
2,241,737
2,353,167

Page 36

PETERBOROUGH ENVIRONMENT CITY TRUST (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Restricted funds
Healthy Schools
Forest For Peterborough
Tourism Maps
Growing Communities Dogsthorpe
Blueprint
Junior Foresters
Transfer from General Fund
Eco Charter FDC
Kanifing
Bring it Back
Warm Homes East Cambs
Pollinator Parks
Central LOT
CHESS
IUK PANZ
Heat Pump Ready Phase 2
EOP Champion 2023
EOP Regional Lead 2023
Caring for Nature
WCAF
LEAD
Cambs Green Business
Low Carbon Business Lincolnshire
Green Skills Bootcamp
UKPN Energy measures
JCC Green Recovery
EA Maxey Cut
Castor Tree Nursery
HFF Peterborough
LCC Skills Bootcamp
EOP Champion 2024
Viridor
EOP Regional Lead 2024
CPCA Wave 5 Bootcamp
Natural Cambrideshire Heritage Skills
John Stretton Trust Buckles
Total of funds		 Balance at 1
April 2024
Income
Expenditure
Transfers
in/out
Balance at
31 March
2025
110,161
48,250
(31,544)
-
126,867
32,275
10,000
(34,652)
-
7,623
15,448
-
-
-
15,448
4,114
-
(1,532)
-
2,582
(1,186)
(220)
-
1,406
-
(81)
15,000
(2,945)
-
11,974
18,464
-
-
(13,675)
4,789
326
-
-
(326)
-
16,870
50,790
(49,915)
-
17,745
27,838
-
(27,865)
27
-
7,939
-
-
(7,939)
-
5,908
13,037
(4,274)
-
14,671
11,356
-
(7,957)
(3,399)
-
(2,684)
134,650
(142,963)
7,939
(3,058)
(11,654)
304,150
(269,373)
-
23,123
24,977
-
(29,072)
4,095
-
8,279
175
(7,283)
(1,171)
-
8,588
-
(9,767)
1,179
-
(480)
-
-
-
(480)
9,295
29,200
(7,377)
-
31,118
116,742
38,035
(48,070)
-
106,707
352
68,480
(66,252)
-
2,580
2,787
59,485
(39,945)
-
22,327
(3,981)
42,000
(29,323)
(8,696)
-
(271)
31,088
(28,481)
(2,336)
-
-
-
(1,237)
1,237
-
-
22,500
(9,986)
-
12,514
-
4,955
(4,848)
-
107
-
55,400
(19,432)
-
35,968
-
48,965
(50,216)
-
(1,251)
-
5,250
(6,906)
3,507
1,851
-
15,910
(1,698)
-
14,212
-
6,488
(4,441)
(1,179)
868
-
24,973
(19,015)
-
5,958
-
6,010
(6,010)
-
-
-
8,000
(30)
-
7,970
401,382
1,042,571
(962,409)
(19,331)
462,213
2,347,890
2,578,572
(2,111,082)
-
2,815,380

Page 37

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Designated Funds

Designated funds are general funds that the charity has designated to help specific projects run by the charity. These funds include the following projects:

IIE & IIE Training Centre: Sustainability certification and training for businesses and professionals.

Climate Education (formally Environmental Education): National platform helping schools integrate sustainability into teaching.

ASPECT Consultancy: Customised energy, net zero and sustainability advice services for commercial clients.

Restricted Funds

The deficit balances on restricted funds will be cleared by general funds at the end of the project. The negative fund balances within restricted reserves are covered by the transfer from general reserves at the balance sheet date. These funds include the following projects:

Healthy Schools – Food Smart: Promoting nutrition and sustainability in primary and early years settings.

Forest for Peterborough: Ongoing urban and rural tree planting aiming to reach 230,000 trees by 2030.

Tourism Maps: Funds held for Peterborough Travel Choice to promote sustainable travel.

Growing Communities Dogsthorpe: Transforming communal green spaces with residents in Gladstone.

Blueprint: Interreg-funded circular economy engagement across Peterborough.

Junior Foresters: Equipping young people with forestry skills and nature connection.

Eco Charter FDC: Supporting sustainability initiatives in Fenland schools.

Kanifing: Waste prevention and community engagement collaboration within Gambia.

Bring it Back: Local reuse and return scheme, funded by Hubbub and Starbucks.

CHESS: Fuel poverty reduction through direct advice and interventions.

Pollinator Parks: Creating pollinator-friendly urban green spaces in partnership with community groups.

Central Library of Things: Establishing a sharing economy hub within Peterborough’s central library.

UK PANZ (Peterborough Accelerating Net Zero): Support for net zero transition funded by Innovate UK.

Heatpump Ready – Friday Bridge: Community engagement in heat pump deployment trials.

EOP Champion & Regional Lead: Energy outreach across the East of England supporting residents and energy surgeries.

Page 38

PETERBOROUGH ENVIRONMENT CITY TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Caring for Nature: Skills training in conservation for NEETs and unemployed adults.

Woodland Creation Fund: Tree planting and support for biodiversity improvements in urban Peterborough.

John Clare Countryside: Biodiversity-focused land restoration, community engagement and planting.

LEAD – Energy Van: Mobile energy advice provision in rural Lincolnshire.

Green Business Improvement (Cambs): Tailored support for SMEs to reduce carbon emissions.

Low Carbon Business (Lincs): Funded sustainability support for Lincolnshire SMEs.

Green Skills Bootcamps (CPCA/Leicester CC): Training in Sustainability and environment management in partnership with Change Agents UK.

UKPN Energy Efficiency: Targeted advice and improvements for residential energy use.

PECT Tree Nursery: Establishing a community-led source of native tree stock.

Healthy Future Fund: Social prescribing and health through nature for Peterborough residents.

Viridor 2024: Capital equipment purchase to scale Forest for Peterborough operations.

Natural Cambs Heritage Skills: Training in environmental and heritage-based skills.

John Stretton Trust: Supporting local environmental engagement.

Page 39

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Designated Funds
General funds
General Funds
Subsidiary Company Fund
Total Unrestricted funds		 Balance at
1 April 2023
£
41,792
1,471,329
143,849
1,615,178
1,656,970		 Income
£
305,709
21,698
912,784
934,482
1,240,191		 Expenditure
£
(298,725)
(87,648)
(591,753)
(679,401)
(978,126)		 Transfers
in/out
£
26,812
324,251
(323,590)
661
27,473		 Balance at
31 March
2024
£
75,588
1,729,630
141,290
1,870,920
1,946,508

Page 40

PETERBOROUGH ENVIRONMENT CITY TRUST (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Restricted funds
Healthy Schools
Forest For Peterborough
Tourism Maps
COO-L Food & Cool Food Pro
Growing Communities Dogsthorpe
Eastern New Energy
Blueprint
Junior Foresters
JCC Green Recovery
RSA Carbon Reduction
NLOW Farm Twinning
EDCD Climate Change
Viridor
Transfer from General Fund
Community Fridge FDC
Eco Charter FDC
Heat Pump Ready Cambridgeshire
Kanifing
Bring it Back
Warm Homes East Cambs
Cook and Eat
Green Ambassadors
SENE
Pollinator Parks
Central LOT
CHESS
IUK PANZ
Heat Pump Ready Phase 2
EOP Champion 2023
EOP Regional Lead 2023
Caring for Nature
St Ives Micro Grid
WCAF
LEAD
Cambs Green Business
PECT 30 for 30
Low Carbon Business Lincolnshire
Green Skills Bootcamp
UKPN Energy measures
Total of funds		 Balance at 1
April 2023
Income
Expenditure
Transfers
in/out
Balance at 31
March 2024
90,280
51,000
(31,119)
-
110,161
42,702
17,742
(28,169)
-
32,275
15,448
-
-
-
15,448
(57,180)
10,652
(24,338)
70,866
-
9,287
-
(5,173)
-
4,114
(38,541)
1,076
(2,289)
39,754
-
6,135
20,250
(27,571)
-
(1,186)
-
-
(81)
-
(81)
9,370
(2,332)
(2,521)
(4,517)
-
4,560
-
-
(4,560)
-
1,220
1,563
(2,783)
-
-
4,002
-
-
(4,002)
-
-
9,980
(5,008)
(4,972)
-
122,228
-
-
(103,764)
18,464
(475)
9,880
(9,584)
179
-
(524)
3,850
(3,000)
-
326
36,646
-
(425)
(36,221)
-
(296)
40,134
(22,968)
-
16,870
18,724
98,918
(89,804)
-
27,838
12,123
-
(4,184)
-
7,939
4,774
-
(4,456)
(318)
-
12,837
-
(224)
(12,613)
-
(7,116)
48,547
(51,650)
10,219
-
(19)
8,036
(2,109)
-
5,908
(6)
24,150
(12,788)
-
11,356
(17,498)
137,844
(123,030)
-
(2,684)
(74)
3,192
(14,772)
-
(11,654)
(21)
81,338
(56,340)
-
24,977
8,324
10,731
(10,776)
-
8,279
7,108
12,976
(11,496)
-
8,588
(477)
500
(503)
-
(480)
14,501
3,778
(4,082)
(14,197)
-
-
29,200
(19,905)
-
9,295
-
136,890
(20,148)
-
116,742
-
41,520
(41,168)
-
352
-
-
(36,673)
36,673
-
-
20,000
(17,213)
-
2,787
-
350
(4,331)
-
(3,981)
-
-
(271)
-
(271)
298,042
821,765
(690,952)
(27,473)
401,382
1,955,012
2,061,956
(1,669,078)
-
2,347,890

Page 41

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 Transfers 31 March
April 2024 Income Expenditure in/out 2025
£ £ £ £ £
Designated funds 75,589 408,508 (372,993) 326 111,430
General funds 1,870,919 1,127,493 (775,680) 19,005 2,241,737
Restricted funds 401,382 1,042,571 (962,409) (19,331) 462,213
2,347,890 2,578,572 (2,111,082) - 2,815,380
Summary of funds - prior year
Balance at
Balance at Transfers 31 March
1 April 2023 Income Expenditure in/out 2024
£ £ £ £ £
Designated funds 41,792 305,709 (298,725) 26,812 75,588
General funds 1,615,178 934,482 (679,401) 661 1,870,920
Restricted funds 298,042 821,765 (690,952) (27,473) 401,382
1,955,012 2,061,956 (1,669,078) - 2,347,890

Page 42

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
51,286
Intangible fixed assets
40,291
Investment property
210,000
Current assets
2,408,669
Creditors due within one year
(357,079)
Total
2,353,167		 Restricted
funds
2025
£
73,420
-
-
414,862
(26,069)
462,213		 Total
funds
2025
£
124,706
40,291
210,000
2,823,531
(383,148)
2,815,380

Analysis of net assets between funds - prior year

Tangible fixed assets
Investment property
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
52,398
210,000
1,985,750
(301,640)
1,946,508		 Restricted
funds
2024
£
98,592
-
463,334
(160,544)
401,382		 Total
funds
2024
£
150,990
210,000
2,449,084
(462,184)
2,347,890

Page 43

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Decrease in deferred tax provision
Net cash provided by operating activities
23.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
24.
Analysis of changes in net debt
At 1 April
2024
£
Cash at bank and in hand
1,944,676
Liquid investments
-
1,944,676		 Group
2025
£
467,490
58,360
(51,334)
2,666
(138,723)
(79,036)
-
259,423
Group
2025
£
2,180,400
2,180,400
Cash flows
£
(464,276)
700,000
235,724		 Group
2024
£
392,878
22,137
(18,794)
-
268,133
51,562
(1,148)
714,768
Group
2024
£
1,944,675
1,944,675
At 31 March
2025
£
1,480,400
700,000
2,180,400

Page 44

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Operating lease commitments

At 31 March 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Amounts payable
Not later than 1 year
Later than 1 year and not later than 5 years
Lease Income
Amounts receivable
Not later than 1 year
Later than 1 year and not later than 5 years		 Group
2025
£
21,485
53,713
75,198
Group
2025
£
6,750
-
6,750		 Group
2024
£
17,618
75,198
92,816
Group
2024
£
15,600
16,500
32,100		 Charity
2025
£
21,485
53,713
75,198
Company
2025
£
6,750
-
6,750		 Charity
2024
£
17,618
75,198
92,816
Company
2024
£
15,600
16,500
32,100

Page 45

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

26. Related party transactions

Hegarty Solicitors

(A Sutherland, a trustee of the charity, is also a Director of the above)

Peterborough Environment City Trust made sales to Hegarty LLP Solicitors of £225 (2024 - £Nil).

Peterborough Environment City Trust made purchases from Hegarty LLP Solicitors of £2,108 (2024 - £3,291).

At the balance sheet date there were no outstanding balances (2024: £Nil).

Azets

(G Wright, a trustee of the charity, is also an Associate Director of the above)

Peterborough Environment City Trust made purchases from Azets of £1,740 (2024 - £Nil).

At the balance sheet date there were no outstanding balances (2024: £Nil).

Green Energy Switch Limited

(Subsidiary company)

Peterborough Environment City Trust made sales / recharges to Green Energy Switch Limited of £16,188 (2024 - £11,545).

There was an obligation at the year-end for Green Energy Switch to gift-aid the lower of their taxable and distributable profits for the year to Peterborough Environment City Trust, and therefore a balance of £267,538 is owed from the subsidiary company to the parent company at the year-end.

Page 46

PETERBOROUGH ENVIRONMENT CITY TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

27. Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name Green Energy Switch Limited

Company Class of Holding number shares 06625282 Ordinary 100%

The financial results of the subsidiary for the year were:

Name Income Expenditure Profit/(Loss) Net assets
£ £ / Surplus/ £
(Deficit) for
the year
£
Green Energy Switch Limited 1,068,585 775,096 293,489 167,242

Page 47