Charity Registration No. 1031482 Company Registration No. 02881225 (England and Wales) THE ENVIRONME CENTRE ITEC) ANNUAL REPORT AND FINANCIAL StATEME1rs FOR THE YEAR ENDED 31 MARCH 2024 BUSINESS ADVISORS & ACCOUNTANTS 10 Bridge Street Christchurch Dorset BH23 IEF
THE ENVIRONMENT CENTRE (TEC) CONTENTS Page Company information Trustees report 2-10 Statement of trustees responsibilities li Independent auditor's report 12-15 Statement of linancial activities 16 Balance sheet 17 Statement of cash flows 18 Notes to the financial statements 19-33
THE ENVIRONMENT CENTRE (TEC) COMPANY INFORMATION Trustees Mr P James Ms A S Drakakis Mr A Howison Mr C R Rowland Mr l Nelson Dr A Whitehead MP Other officers A Goulden A Brand Chief Executive Finance Manager Charity number 1031482 Company number 02881225 Registered office 14-15 Brunswick Place Southampton Hampshire S015 2AQ Auditor TC Group 10 Bridge Street Christchurch Dorset BH23 IEF
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governin8 document, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporknng Standard applicable in the UK and Republic of Ireland IFFIS 1021" las amended for accounting periods commencing from l January 20161 Objectives and activities As an inde endent Environmental Chari tEC's missions is: The advancement in education of the public in all matters concerning the environment. The preservation and protection of the environment by. The provision of practical support and advice to all individuals and organisations wanting to enhance their environment and reduce their use of natural resources. Raising awareness of environmental issue5 Wlthin all sections of the community- The adoption of sustainable practices amongst the general public, schools and businesses. The activities of the charity include- For Local Authorities and Government-led or anisattons Support Local Authorities with their responses to the climate emergency and adaptation strategies The Provision of a free phone advice line for front line staff and members of the public on matters such as fuel poverty, energy efficiency, air quality, waste and recycling, water saving and the grants available for energy efficiency home improvements Data interpretation and mapping services Response to local and national consultations Bid writing Services In house training on energy efficiency. sustsinability and fuel poverty Assistance with ongoing HECA reporknng Working with Local Authorities to develop sustainable policies, strategies and action plans Outreach events promoting sustainability through schools, community or council events Offering advice and guidance on accessing funding for environmental projects Strategie5for achieving aims ond objectives For individuals. Free phone advice on- 081)0 804 8601 for Southampton and Hampshire residents or 0800 260 5907 for Portsmouth for imparknal advice on energy efficiency, keeping warm and well in the home and simple ways to live more sustainably Home Visits - to provide bespoke advice on Energy Efficiency and sustainability in the home. Guidance on accessing grants and loans and hand-holding support with applications for funding for the most vulnerable Energy surgeries in public spaces Energy awareness events Outreach Mobile advice at community centres. supermarkets, libraries and similar location5
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Criteria usedfor ossessing success For schools= School assemblies and environment-themed activities Environmental education workshops Road shows. storytelling and fun days to encourage engagement on climate change and sustainabilitv Issues Staff and governor training in energy and environmentsl issues Water. waste and energy audits Public benefit For business.. Energy and Environmental Audits Data interpretation and mapping service5 Guidance on Environmental Management Systems Sustainability Strategies Green Travel Plans In house environmental training In house business road shows Free phone advice line Renewables Feasibility Studies Activities The Trustees review our aims. objectives and activities each year to ensure that we remain focused and have given due regard to public benefit when planning the charity's activities.
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Significont octivitie5 ond ochievements ogoinst objectives We continue to run our major fuel poverty. energy efficiency and air quality projects in Southampton, Portsmouth and Hampshire and have achieved some really impressive results. Over the past year we have: Assisted 5,824 households over the phone, by email and at community events/workshops Facilitated the installation of 273 large energy efficiency measures including external wall insulation, cavity wall insulats"on, loft insulation, solar PV, air source heat pumps and essential heating system repairs or replacements. The installation of these measures has resulted in estimated lifetime energy bill savings of more than £1,095.500 and estimated lifetime carbon savings of more than 1,865 tCO2e. Trained 397 frontline workers on energy. affordable warmth and air quality matters Launched a healthcare professionals air quality project, to recruit clean air champions, in partne rship with Southampton City Council and Global Action Plan. Led local promotion of the first Clean Air Night and hi8hli8hted local action to tackle air pollution during this year's Clean Air Day Won two awards - "Southampton Business Award for sustainability" from Southampton Chamber of Commerce and "Best Partnership 2024" award from National Citizens Advice for Advice in Southampton Created printed and digital resources in various accessible formats This year we've made significant improvements in offering accessible resources to ensure we reach a larger audience. We've created home energy resources in four different languages and in Easy Read la recognised format for audiences with learning difficulties). The Hithng The Cold Spots project website also has a Sultantial accessibility menu including IO0+ languages, dyslexia-friendly tools. screen readers and more.
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Business Plan The flash general election in July has resulted in a change of Government and a significant shift in energy and environmental policy. Highlights include the setting up of a new energy generation company - Great British Energy which will be headquartered in Scotland. Labour have pledged that Great British Energy will partner with energy companie5. local authoriti&, and co- operatives to install thousands of clean power projects. The new Government plan to work with the private sector to double onshore wind, triple solar power, and quadruple offshore wind by 2030. Of particular interest to tEC is that local communities will be invited to come forward with local energy projects. Also of interest The Warm Homes Plan is designed to improve energy efficiency in British homes with investment of an extra £6.6 billion over the next parliament. doubling the previous planned government investment, to upgrade five million homes. The Warm Homes Plan will offer grants and low interest loans to support investment in insulation and other improvements such as solar panels, batteries and low carbon heating designed to cut bills. Again, the plan is to work with the private sector, including banks and building societies, to provide further private finance to accelerate home upgrades and low carbon heating. There are also plans to ensure homes in the private rented sector meet minimum energy efficiency &andards IMEESI by 2030. With reference to the above and in consideration of a number of other local and organisational factors The Board of Trustees and the Senior Management Team have produced a business plan which will help to focus our efforts over the next year. In the next year tEC will seek to- Successfully roll out our new our home energy efficiency retrofit offer in partnership with a ran* of Local Authorities and Third Sector Organisations. Supporting households in the able to pay sector is seen as key to the objectives of the charity. Delivering this service alongside our affordable warmth projects wll provide consistency in the advice given and co-benelits in terms of the advice line and digital offering being accessible and relevant to all homeowners Work with a con50rtium of Local Authorities to identify opportunities to support the role out of ergY efficiency works under the Government's new Warm Homes Plan Continue to work with Southampton City Council on improving it5 Southampton Healthy Homes offer an support its Green City vision and initiatives. Southampton is investing significant resource into Supporting fuel poor households in the city and through their discretionary funding tEC is able to support many more households than would otherwise have been the case. Investigate opportunities to 5UPPOrt community energy projects in Southampton and beyond Continue to successfully deliver Hitting the Cold Spots project and look for additional funding to expand the reach and scope of the scheme. Work with the other Local Authorities on their Net Zero plans particularly with regards to decarb(nising housing and improving air quality- Secure funding outside of the Local Authorities to allow us to engage with the public on issues of climate change and sustainable lifestyles. Endeavour to expand our work looking at minimum energy efficiency standards in the Private Rented Sector
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Build upon our success in delivering Air Quality work and seek additional funding to deliver activities aimed at highlighting the issue and improving air quality in the region. Continue to successfully work with a consortium of local charities to deliver Advice in Southampton work and expand the visibility of the group. Deliver work under the Flexible Eligibility element of ECO, and LAD/HUG schemes for Southampton, Hampshire and Portsmouth Authoritr"es. Continue working closely with Southampton City Council, Portsmouth City Council and Hampshire County Council on projects of mutual benefit - particularly Fuel Poverty and energy efficiency Projects Continue to work with the Southampton Warmth for All Partnership and Hampshire Energy Efficiency partnership to promote our services, 'earn from other schemes and investigate opportunities to support large scale regional energy efficiency and fuel poverty projects. Continue to investigate opportunities to diversify away from delivering energy efficiency and Fuel Poverty projects. Of particular interest are community energy projects, renewable technologies, battery storage, Air Quality, Waste, Circular Economy and Water projects. Continue to develop our communications strategy and raise the profile of the organisation Continue to improve the staff development, training and remuneration package Continue to establish and maintain a strong network of relevant contacts
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Management The following risks have been identified as relevant to the business.. Financial risks from working with financially challenged Local Authority partners is a real risk to the organisation. Whi15t the likelihood of any LA'S issuing a section 114 notice has diminished slow payment and a lack of consistency in terms of contract and payment profiles remains a cause for concern. There is a potential that by seeking to deliver able to pay retrolit work alongside our existr.ng affordable warmth and air quality projects that we will overextend ourselves. This is compounded by the fact thit certain funding bodies do not allow sufficient mobilisation time or resource for project management and organisational costs. There is increasing competition from a number of organisations operating in the retrofit and fuel poverty arena. Whilst we don't view these as a particular risk at present there is the potential for them todilute our message and. in the worst case. for vulnerable households not to receive the full range of support that is available to them through Local Authority and tEC managed schemes. Whilst a significant increase in the number of staff at tEC has allowed us to support many more vulnerable households it has had an impact on the team leads and particularly the SMT. Training, HR and ongoing support all take time away from other duties and create competing priorities. We are dealing with an increasing numbers of clients with complex needs that often require multip interventions. This is extremely time consuming and often very difficult to manage in conjunction wf(h other elements of our projects. The SMT and team leads are under some pressure. We work in a fast paced environment and run complicated multifaceted projects. Our linance manager for example currently only works 3 days a week and is having to deal with nearly double the number of staff and invoices than when she first joined tEC Burn out of certain key members of staff is a concern Hybrid working has now fi'rmly bedded in and in the majority of cases brings with it benefits for both the organisation and employee. However it does also continue to present challenges in terms of how best to support staff members and how to monitor and review their work when they are at home. There still remain some operational risks from COVID and flu with the potential of multiple stafl contracting the virus and associated risks to land from) our client group There continues to be concern over the effects of the economic downturn. and the increasing costs of living. At the same time demand for our services is increasing exponentially. Recruiting staff remains challenging and we are having to look at our offer carefully as other organisations increase their pay in response to a shortage of suitable candidates.
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Miti ation Strate A number of strategies have been initiated in order to mitigate identified risks- The board and SMT continue to be mindful of staff capacity, particularly with the senior managers who have been working extremely hard on their own projects and also on a variety of additional initiati5 to improve organisational processes. We will continue to monitor and look to recruit quickly where necessary. We may also need to consider additional support for the linance and office manager. The board and SMT are acutely aware of the need to carefully consider which projects to bid for ard work on. There are many opportunities presently and we are committed not to chase funding or to agree to work which will put additional strain on staff. New projects must not only align with our charitable aims and business plan they must also be deliverable, and not at the expense of staff well-being. Again the SMT will carefully monitor staff workload and capacity and look to redeploy and recruit quickly if more projects come on line. Emphasis has also been placed on partnership working with other TSO'S to allow tEC to expand its operations and access alternative sources of funding. Strong emphasis continues to be placed on securin8 additional funding to deliver existing projects going forward and we continue to talk to our partners about the need for more staff resource to support growing numbers of residents contacting us. We have recruited another two members of staff to help cope with the increased demand on our services. It is likely that we will look to recruit again in the near future We will update and adopt a range of policies and procedures, particularly around our support structures, training, remote working and reviews. These are designed to complement the new projects coming online and continued hybrid working arrangements. The aim is for us all to feel confi'dent with what we are doing and feel engaged and supported. We continue to follow COVID and flu recommendations and have adopted a range of measures including advising staff to get their vaccinations. wash their hands regularly, where masks when appropriate, ventilate the office space and stay away from work ifthey feel unwell. We continue to work closely with Southampton City Council and other Hampshire Authorities to investigate opportunities of mutual benefit. The Chief Executive will continue to network and develop new business links with relevant Individ15 and organisations. The board have created a risk register to help identify. prioritise and further mitigate the identified risks. Financial review Reserves policy The incoming resources for this accounting period amounted to £1,787,44412023 £1,479,340) of which the operating surplus on activities was £151,41312023 £147,333). The aim is to achieve a minimum of reserves of the equivalent of six months of overheads expenses. Under the memorandum and Articles of Association. the charity has the power to invest in any way the trustees wish, however to trustees continue to maintain the remit not to invest in anything other than its stsff. As at the year end charity had reserves of £632.974 12023 £481.561) of which £48,846 12023- £94.2621 represented restricted funds and £30.00012023 - £30.OCrfJI designated funds.
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Governin Document The Charity is constituted as a Company limited by Guarantee and governed by a Memorandum and Articles of Association incorporated on 16 December 1993. It is registered with the Charity Commissioners under charity number 1031482. The Board of Trustees with advice from the Charities Commission amended their Memorandum and Arkncles in June 2020. Each member agrees to contribute £1 in the event of the charity winding up. ointment of Trustees As set out in the Articles of Association the trustees are approved by a unanimous vote of the existing board of trustees following a successful interview process. The process includes the Chief Executive obtaining satr"sfactory references and ensuring that the nominated trustees fully understand their obligations to the charity- New trustees can be nominated throughout the year and are approved to the board at the quarterly board meetings. There is no limit to the time a trustee may serve. As the majority of the work undertaken by the charity is in partnership with local authorities of Hampshire and the Isle of Wight, the charity welcomes nominees from these authorities. Nominee5 appointed f rom local authorities are subject to the appointment process of these bodies and the guidelines on appointment to public cffice as they apply to Local Government nominees. Trustee introduction and trainin Before being nominated new trustees are briefed by the Chief Executive on their legal obligations under the charity and company law. the content of the Memorandum and Articles of Association, the committee. decision making processes and minimum commitment expected from the new trustee. They also learn in situ about the organisation structure. business plan and recent financi31 performance of the charity. Having been nominated, the new trustee will meet key employees and be provided with access to operation procedures. They will be encouraged to attend appropriate events to gain greater knowledge of the charity's activities and to help in the undertaking of their role. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- Mr PJame5 Ms A S Drakakis Mr A Howison Mr C R Rowland Mr l Nelson Dr A Whitehead MP Recruitment ond oppointment of trustees None of the trustees has any beneficial interest in the company. All of the trustees are members d the company and guarantee to contribute £1 in the event of a winding up. The company's current policy concerning the payment of trade creditors is to follow the CBI'S Prorry)t Payers Code (copies are available from the CBI, Centre Point. 103 New Oxford Street, London WCIA IDUI. The company's current policy concerning the payment of trade creditors is to- settle the terms of payment with suppliers when agreeing the terms of each transattion; ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and pay in accordance with the company's contractual and other legal obligations.
THE ENVIRONMENT CENTRE (TEC) TRusfEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Induction ond training of trustees Or anisation The Board of Trustees administers the charity and meets formally on a quarterly basis. however meetings on specific matters are arranged as and when required. The Chief Executive is appointed by the trustees to manage the day to day operation of the charity. To facilitate effective operations. the Chief Executive has delegated authority. within terms of delegation approved by the trustees, for operational matters including linance, employment and activity performance. The trustee5 are supplied with financial information quarterly and an activity and funding report every six months lor more frequently should need arise). Related arties The charity's continued success lays in its steadfast commitment and ability to remain independent apolitical and non-campaigning- The charities wholly owned subsidiary, Environment Centre Enterprises Limited, was established to operate any commercial environmental work deemed to not be solely charitable. but which supported environmental best practice or materia15 to support environmental best practice. In 2023124 and the previous year this company did not undertake activity or trading. Auditor In accordance with the company's article5. a re501ution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting. The trustees report was approved by the Board of Trustees. Mr PJames Trustees 18 December 2024 10-
THE ENVIRONMENT CENTRE (TEC) STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of The Environment Centre {TECI for the purpose of compary law, are responsible for preparing the Trustees Report and the tinancial 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of r&ources, including the income and expenditure, of the charitsble company for that year. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent- prepare the linancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the fi'nancial position of the charity and enable them to ensure that the fi'nancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hee taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
THE ENVIRONMENT CENTRE (TEC) INDEPENDENT AUDITOR'S REPORT TO THE TRuEE5 OF THE ENVIRONME CElRE ITEC) Opinion We have audited the tinancial statements of The Environment Centre (TECI (the 'charity'l for the ar ended 31 March 2024 which comprise the ststement of financial activities, the balance sheet. the statement of cash flows and notes to the linancial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndard5, including Financial Reporknng Standard 102 The Financial Reporting Standard applicoble 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 charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PraCti- and have been prepared in accordance with the requirements of the Companie5 Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the finonciol statements section of our report. We are independent of the charity in accOrdare with the ethical requirements that are relevant to our audit of the tinancial statements in the UK, including the FRC'S Ethical Standard, and we have fullilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to goin8 concern In auditing the financial statements, we have concluded that the directors, 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 identitied any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the linancial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the directors With respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the tinancial statements and our auditor's 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 informatijn and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inbrmation and, in doing so, consider whether the other information is materially inconsistent with the financial ststements or our knowledge obtained in the course of the audit. or otherwise appear5 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 fi'nancial statements themselves. If, based on the work we have performed, we conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 12-
THE ENVIRONMENT CENTRE (TEC) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRuEE5 OF THE ENVIRONME CElRE ITEC) Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees report,. or sufficient accounting records have not been kept- or the linancial statements are not in agreement with the accounting records- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the fi'nancial statements and tor being satistied 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 charity's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unle55 the trustee5 either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's 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 auditor's 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 IUKI will always detect a material mi55tatement when it exi5t5. Misstatements (an 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 fi'nancial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities. including fraud. is detailed below: Extent to which the audit was consided capable of deterting irregularities. including fraud The objectives of our audit, in respect to fraud. are= to identify and assess the risks of materia misstatement of the financial statements due to fraud: to obtain sufficient appropriate audit evidence regarding the asse55ed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identifi.ed during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. 13-
THE ENVIRONMENT CENTRE (TEC) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRuEE5 OF THE ENVIRONME CElRE ITEC) Our approach was as follows.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sertor experience. and through discussion with the trustees and other management las required by auditing standards}, and discussed with the trustees and other management the policies and procedures regarding compliance with law5 and regulations,. We considered the legal and regulatory frameworks directly applicable to the financial ststements reporting framework IFRS 102 and the Companies Act 2Ci161 and the relevant tax compliance regulaticns in the UK; We considered the legal and regulatory principles in the Charity SORP We considered the nature of the industry, the control environment and business performance, incknding the key drivers for management's remuneration. We communicated identilied laws and regulations throughout our team and remained alert to any ilICatiOnS of non-compliance throughout the audit. These include Health and Safety, employment law, building insurance, public liability insurance and licencing. The Trustees use an external lirm for Health and Safety and employment law, as they believe this will ensure up to date knowledge and systems are used. We considered and reviewed the procedures and controls that the company has established to addrss risks identified, or that otherwise prevent, deter and detect fraud. and how senior management monitors those programmes and controls. These include the review of authorisation limits for bank transactions and authorisation for BACS payments. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. These include Health and Safety, Employment Law and Licencing. Where the risk was consK4ered to be higher, we performed audit procedures to addre55 each identified fraud risk. These procedures induded- testing manual journals. reviewing the financial statement disclosures and testing to 5UPPOrting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the tinancial statements, even though we have properly planned and perform ed our audit in accordance with auditing standards. For example. the further removed norkcompliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the financi31 statements, the less likely the inherently limited procedures required by auditing Standards would identify it. The risk is also greater regarding irregularitie5 occurring due to fraud rather than error. a5 fraud involves intentional c0ealMent, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all lav and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at.. htt www.frc.or Our-work Audit Audit-and-assurance Standards-and- uidance Standards-and- uidance- forauditors Auditors-res onsibilities-for-audit Descri tion-of-auditors-res onsibilities-for-audit.as This description forms part of our auditor's report. 14-
THE ENVIRONMENT CENTRE (TEC) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRuEE5 OF THE ENVIRONME CElRE ITEC) 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. 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 (ther purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Dean Pullen FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditor Offi'ce.. Christchurch 18 December 2024 TC Group is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2Crf)6 15-
THE ENVIRONMENT CENTRE (TEC) STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds Totsl Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Notes Income from: Donations and legacies Charitable activities Investments 1,000 575,047 6,413 154,623 1.050,361 155,623 1.625,408 6.413 12,422 637,778 1,713 10,056 817,371 22,478 1.455,149 1,713 Total income 582,460 1,204,984 1,787,444 651,913 827,427 1,479,340 Expenditure on: Charitable activities 385,631 1.250,400 1.636,031 533,826 798,181 1.332,007 Total expenditure 385,631 1.250.400 1.636.031 533,826 798,181 1.332,007 Net income/(expenditure) 196,829 145.4161 151,413 118,087 29,246 147,333 Transfers between funds 14,3221 4,322 Net movement in funds 196,829 145.4161 151.413 113,765 33,568 147,333 Reconciliation of funds: Fund balances at l April 2023 387,299 94,262 481,561 273,534 60,694 334,228 Fund balances at 31 March 2024 584,128 48,846 632,974 387,299 94,262 481,561 The statement of tinancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 16-
THE ENVIRONMENT CENTRE (TEC) BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 12 32,084 11,230 13 32,085 11,231 Current assets Debtors Cash at bank and in hand 14 252.111 429.492 306.818 222.156 681.603 528.974 Creditors: amounts falling due within one year 15 {80.7141 {58,6441 Net current assets 600,889 470,330 Total assets less current liabilities 632,974 481,561 The funds of the charity Restricted income funds Unrestricted funds 18 48,846 584,128 94,262 387,299 19 632,974 481,561 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 18 December 2024 Mr Pjames Trustees Company registration number 02881225 (England and Wales) 17-
THE ENVIRONMENT CENTRE (TEC) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating artivities Cash generated from operations 24 227.161 17,951 Investing activities Purchase of tangible lixed assets Investment income received {26.2381 6,413 {10,1321 1,713 Net cash used in investing activities 119,8251 18,4191 Net cash used in financing activities Net in¢aSe in cash and cash equivalents 207.336 9,532 Cash and cash equivalents at beginning of year 222,156 212,624 Cash and cash equivalents at end of year 429,492 222,156 18-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information The Environment Centre ItECI is a registered charity. registration number 1031482. company number 2881225, limited by guarantee in England and Wales. The registered office 15 Equity & Law House. l¢15 Brunswick Place, Southampton, S015 2AQ. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 IFRS 1021" las amended for accounting periods commencing from l January 20161. The charity is a Public Benefit Entity as delined by FRS 102. The tinancial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The tinancial statements have been prepared under the historical cost convention. The principal aOunting policies adopted are set out below. 1.2 Going concern At the time of approving the tinancial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the linancial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for 5cIfiC purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specitic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions hale been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 19-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Legacies are recognised on receipt or otherwise if the charity has been notitied of an impending di stribution, the amount is known. and receipt is experted. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure All expenditure is recognised once there is a legal or construttive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributable to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and deprecation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable expenditure comprises those costs incurred by the charity in the delivery of its aCtiVleS and Services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include the costs attributable to the charity's compliance with constitutional and statutory requirements, including independent examination. strategic management and trustee's meeting and reimbursed expenses. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and Subsequently measured at cost or valuation, net of depreciation and any impairment105ses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following base5- Fixtures and fittings Computers Motor vehicles 33% straight line 20% straight line 8 years reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement ot tinancial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporhng date. Changes in fair value are recognised in net income/lexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-term liquid investments with origin31 maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. -20-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its tinancial instruments. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity 15 demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Taxation The charity is considered to pa55 the test5 set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporatr"on Tax Act 2010 or Seth"on 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. 1.13 Trade debtors Trade debtors are amounts due from customers for services performed in the ordinary course of business. trade debtors are recognised initially at the transaction price. They are subsequently measured at amorhsed cost using the effective method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms on receivables. 1.14 Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of the busine55 from 5upplier5. Accounts payable are cla55ified a5 current liabilities if the charity does not have unconditional right, at the end of the reporting period, to defei settlement of the creditor for at least twelve months after the reporting date, they are presented as non current liabilities. Trade creditors are recognised initially at the transattion price and subsequently measured at amortised cost using the effective method. 21
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and a550ciated a55umption5 are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects ClY that period, or in the period of the revision and future periods where the revision affects both current and future periods. The trustees have considered whether there are any critical judgements required in the preparation of these accounts and have concluded that there are non requiring disclosure. Income from donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Grants 1,000 154.623 155.623 972 10,056 11,028 11,450 11,450 1,000 154,623 155,623 12,422 10,056 22,478 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Environmental project activities 575,047 1.050,361 1.625.408 637,778 817,371 1.455,149 -22-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestrirted funds funds 2024 2023 Interest receivable 6,413 1,713 Expenditure on charitable activities 2024 2023 Direct costs Staff costs Depreciation and impairment Office expenses Light and heat Travel and subsistence 664,704 5,384 34,635 3,349 3,373 25,734 14,293 872,875 600 513,898 2,009 19,611 2,406 3,696 22,002 28,771 728,632 485 Repairs and maintenance lincluding rent and rates} Advertising Books. periodicals and project materials Bank charges Irrecoverable VAT Bad debt5 4,059 3,085 2,365 1,629,006 1,326,960 Share of support and governance costs (see note 7) Support 7,025 5,047 1.636,031 1.332,007 Analysis by fund Unrestricted funds Restricted funds 385,631 1,250,400 533,826 798,181 1.636,031 1.332,007 -23-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities Total 2024 Total 2023 Consultancy Other accounting fees Auditors remuneration 2,249 236 61 4.776 4,750 7.025 5,047 Net movement in funds 2024 2023 The net movement in funds is Stated after charging/{creditingl'. Depreciation of owned tangible fixed assets 5.384 2,009 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 26 21 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 600,834 46,388 17,482 464,913 35,555 13,430 664,704 513,898 -24-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees (Continued) No employee received emoluments of more than £60,LK)O during the year. The total employee benefits of the key management personnel of the charity were £110,005 {2023 - £102.9541. There were no employees whose annual remuneration was more than £60,000. 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tangible fixed assets Fixtures and ComrterS Motor ¥ehicle5 Totsl Cost At l April 2023 Additions 15.743 74,919 1.356 90,662 26,238 24,882 At 31 March 2024 15.743 76.275 24,882 116,900 Depreciation and impairment At l April 2023 Depreciation charged in the year 15,743 63,689 4,299 79,432 5,384 1,085 At 31 March 2024 15.743 67.988 1,085 84,816 Carrying amount At 31 March 2024 8.287 23,797 32,084 At 31 March 2023 11,230 11,230 -25-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Fixed asset investments Add investments I C05t or valuation At l April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 64.703 176.843 10.565 41,586 258,052 7,180 252.111 306,818 15 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Accruals and deferred income 40.326 33.364 7.024 31,789 15,451 11,404 80,714 58,644 16 Government grants Government grants and support are recognised under the accruals basis and recognised in the period to which the income relates. -26-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to prolit or loss in respect of delined contribution Schemes 17.482 13,430 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 18 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specilic conditions by donors as to how they may be used. At l April 2023 Incoming sources Resources expended Transfers At 31 March 2024 Hitting the Cold Spots- HH52 Southampton City Council Innovation and Enforcement Grant Carbon Offset Fund Covid Winter Fund Francis Winham Foundation 43,713 2,606 29.500 168.729 173,2131 {168,7581 2,577 2,508 2,856 2,592 12,5051 190,3071 90,307 2,856 2,592 12,230 22,401 154.623 458.194 {142,3931 {452,4311 119,4261 HCC- C4C Grant 16,638 19.426 HSF3 Capital Hampshire Energy Advice Service 3,923 203.632 99,999 {201,5811 199,7861 5,974 213 HSF4- SCC 94,262 1,204,984 11,250,400) 48,846 -27-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Restricted fund5 (Continued) Previous year: At l April 2022 Incoming sources Resources expended Transfers At 31 March 2023 1,596,362 126,0581 1,596,362 43,713 Hitling the Cold Spots- HHS2 Clean Air Network Resilient Community fund Southampton City Council Innovation and Enforcement Grant Innovation and Enforcement Grant Covid Winter Fund Switched on Portsmouth Francis Winham Foundation HCC- C4C Grant HSF3 Capital Hampshire Energy Advice Service Public Health 40,271 90 29,500 1901 187 7,567 17,7541 {147,3281 149.933 2,606 10.173 {7,6651 2,508 130.660 {127,8041 2,856 2,592 2,592 14,1181 110,0561 {383,3621 121,2741 4,118 10,056 400.000 40.700 16,638 19,426 66.578 162,6551 11071 3,923 107 60.694 827.427 {798,1811 4,322 94,262 -28-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Restricted fund5 (Continued) The specitic purposes for which the funds are to be applied are as follows: Hitting the Cold Spots (HHS2IRDF/WCC) Ringfence funding for energy efficiency improvements. particularly boiler repairs and replacements. on behalf of Hampshire County Council. Big Energy Saving Network (BESN) - Providing advice to vulnerable consumers on energy issues and training frontline workers to enable them to provide advice on energy issues to their clients. Clean Air Network {CANI Co-facilitation of the Southampton Clean Air Network which brings together individuals and organisations committed to reducing air pollution in the city, so that they can support and share resources with each other. and encourage and inspire others to take action. Resilient Community Fund ISSEN) - A 2 year project designed to reach out to multiple Vulnerab and disadvantaged communities in Hampshire, who might not otherwise be able to access help and advice. tEC support5 household5 in these communities With faCt0-faCe energy advice at outreach event5 or through referrals from engaged services. By reaching out to these communitie5 we aim to reduce their risk of fuel poverty and support them with staying warm and well in their homes. Southampton City Council (SCC) - Heating and installation at various addresses on behalf of Southampton City Council. Innovation and Enforcement Grant- To raise property standards by ensuring that all properties being rented out not only meet the Minimum Energy Efficiency Standards IMEESI but are free from any category one and two hazards a5 defined by housing health and safety rating system IHHSRS). with a particular focus on heating and insulation ofthe property. Covid Winter Fund - Delivery of utility voucher sUPPOrt on behalf of Portsmouth City Council (Covid Winter Fundl. HSF4-SCC- The Household Support Fund vulnerable households- particularly those with older people and/ or disabled/chronically unwell occupants. The grant covered staff costs as well as grant increased Ixjr capacity/enabled us to provide energy and keep warm advice and support, targeted towards practical eMs1 measures to help households keep warm or reduce energy and water costs -29-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Restricted fund5 (Continued) Carbon Offset Fund- All major developments in Southampton should (as far is a reasonably practicable) comply with the cities ambition for new builds to be Zero Carbon. The primary aim of the Carbon Off*t Scheme is to achieve significant carbon reductions on site and to get as close to zero carbon as possible. Once all efforts have been made to achieve this Standard any additional calculated carbon emissions will be offset by paying into a carbon offset fund. Offset payments are then collected from developers at an agreed rate using the Section 106 mechanism and ring fenced for carbon reduction/fuel poverty interventions for low income or vulnerable households. tEC administers this fund on behalf of Southampton City Council and is paid a management fee for doing so. Switched on Portsmouth ISOPI - A two year project designed to reach out to vulnerable and disadvantaged communities in Portsmouth to reduce their risk of fuel poverty and support them to stay warm and well in their home. It will complement, and extend the reach of existing activities through a single point of contact for affordable warmth advice and support in the city- Francis Winharn Foundation A charitable trust that we apply to. on behalf of older resident5 for heating/ energy efficiency works. Hampshire Energy Athiice Service - Hampshire Energy Advice Service (H EASI support vulnerable households across Hampshire who are struggling to keep warm and well. The project aims to increase the provisicn of affordable warmth advice across the region to meet the significant increase in demand as a result of the energy crisis. Through our proposed activities we will directly support 3,800 households over the plM)ne, via email, with face-to-face energy advice at events & on&to-one appointments. It will enhance collaboration between partners, maximize efficiency and build capacity to tsckle fuel poverty across Hampshire. In addition we will provide practical support through distributing energy saving packs to those most in need. HCC C4c Grant The Hampshire County Council Connect for Communities grant was to provide practical support for low income and vulnerable households. HSF3 - Capital - The grant was awarded for project work relating to Household Support Fund 3 Ilst October 2022 - 31st March 20231, energy and keep warm support targeted towards vulnerable households particularly those with older people andlor disabled occupants. The grant was used to provide practical items/measures to households and for TEC staff costs directly related to the purchasing and distribution of items, and the administration and reporting requirements of this funding. -30-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subjert to specilic conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l April 2023 Incoming sources Resources expended Transfers At 31 March 2024 Designated General funds 30,000 357,299 130,0001 {355,6311 30.000 {30,0001 30,000 554,128 582.460 387,299 582,460 {385,6311 584,128 Previous year: At l April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Designated General funds 30,000 243.534 30,000 357,299 651.913 {533,8261 14,3221 273,534 651,913 {533,8261 14,3221 387,299 The designated fund represents amounts designated by the Board in respect of a potentr.al office Me, dilapidations. IT and offi'ce equipment, staff training and development, match funding and upkeep of the company vehicle. There is no specific date of expected expenditure for the designated fund. 20 Analysis of net assets between funds Unrestricted funds Restricted funds Total 2024 2024 2024 At 31 March 2024: Tangible assets Investments Current assets/lliabilitiesl 32.084 32,084 552,043 48.846 600,889 584,128 48,846 632,974 31
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Analysis of net assets between funds (Continued) Unrestricted funds 2023 Restrirted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current a55ets/lliabilitiesl 7.956 3.274 11,230 379,342 90.988 470,330 387,299 94,262 481,561 21 Operating lease commitments Lessee At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases. as follows.. 2024 2023 Within one year Between two and five years 14,809 6,100 13,974 18,147 20.909 32,121 22 Related party transartions There were no related party transactions dvring the current or prior year. 23 Charity status The Charity is a Charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an arnount not exceeding £1 toward5 the assets of the Charity in the event of liquidation. -32-
THE ENVIRONMENT CENTRE (TEC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Cash generated from operations 2024 2023 Surplus for the year 151.413 147,333 Adjustments for- Investment income recognised in statement of financial activities Depreciation and impairment of tangible lixed assets 16,4131 5,384 11,7131 2,009 Movements in working capital.. Decrease/lincreasel in debtors Increase in creditors 54.707 22.070 1154,3491 24,671 Cash generated from operations 227.161 17,951 -33-