Charlty reglstration nurnber 1070131 Company rogistralion number 03386853 (England and Wales MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE CONTENTS Pago Trust88s' report Statement of trustse3' responsibilities 10 Independont auditt)Vs report Ststsment of )Inanci81 activities 14 Balance sheet 15 Statement of cash flc>w$ 16 Notes to the financial statèments 17-36 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE LEGALAND ADMINISTRATIVE INFORMATION Trustoo$ Cllr J Rostron V Cunningham L E Hammond B Glover K J McMonag18 J A Garside R K Milfs S J GraTrJer Dr M Watson ALRigg Cooper B T Araia C Dodds L P8pprfII C Maughan Mr T Gralnge Mr P Gavlgan C Maughan {Appolnted 6 July 2023) (Appolnted 25 March 2024) Charlty number 1070131 Company numbor 03386853 Rogistorod office Sandy Flatts Lan8 Acklam Mkldlesbrough United Kingdom TS5 7YN Audltor Azets Audit Services Wynyard Park House Wynyard Avenue Wynyard United lfjngdom TS22 5TB Bankors CcTroperat5v8 Bank PO Box 250 Skelmerdale Lancashlr8 Unlted Kingdom WN8 6WT Sollcltors Middlèsbrough Council PO Box 99A Town Hall Middl8sbrough United Kingdom TS12QQ MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees of Middlesbrough Environment City Trust Ltd (MEC) are pleased to present their annual report for the year ending 31st Marth 2024. together with thè financial statements. Charlty Details The following people w8r8 trustoes of MEC durirvJ the year: Cllr J Rostron K J Mcmonagle S J Granger P Gavigan V Cunningham J A Garslde Dr M Watson B T Araia B Glover R K Mllls ALRlgg C Maughan R•glst•Md Offle•: Sandy Flatts Lane, Acklam, Middlesbrough, TS5 7TN Auditors: Azets Audit Servicos. Wynyard Park House. l*Vynyard Avenue, Wynyard. Stod(toTron-T88s. TS22 5TB Bankorn: The Co-operative Bank pk. Customer se￿iceS. PO Box 250. Skelmersdale. WN8 6wr Th6 financlal stat8m8nts have been propared in accordanc8 wilh the ac(x)unting polici85 Set out In note 1 to the financial Ststern￿ts and comply with the charivs govemirKJ docum8nt. th8 Companies Act 2008 arKI "Accountlng and Reporting by Charities: Ststement of Recommended Practi¢e applicabl8 to charlties preparing their acGounts in accordance with the Financial Reportlng Standard applicable in the UK and R8public of Ireland (FRS 102)" {efferAive 1 January 2019). MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objoctiv•s and activities Purposots and Actlvllles of MEC MEC'S tharitable objects are to: (a) Advance the education of the public and promote pubkc involvement in all matters conceming environmental sustainability in the borough of Middlesbrough and the wider Tees Valley area. Preserve. protect and enhance the 8nvironm8nt within th8 borough of Middlesbrough and the wider Te88 Valley area. Protact and enhance the health and we114)eing of people in the borough of MKldlesbrough and the wider Tees Valley area in partI￿lar but not exclusively by providiThJ inf0M￿tion. advice and services regarding physical actiirity. dietary health and mental well-being. {b) (¢) Following a pandemic. cost of Aving crtsis and the financial dffKulties experl8nced by many k)cal councils It Is fair to say that we are emerging from a season of significant turt)ul8nc8 and entering a time of 8XCiting transition. Turfoul8nce. which can be 8 cause for discomfort and tension. Is also often the bedfellow of transformati￿1. It can challenge the hitherto 'received wisdom. opening dcoThvays to new Ideas. naw approache8 and to peop18 and groups who are explorlng new approaches to d8llver th8 same or better benefits to the individuals and cornrnuntlies we serv8. In anticipation of beginnin9 a period of transfomiation an interlm CEO was appolnted to begin this process and, Importanty. to Id8nfjfy and appolnt a ￿manent CEO wlth th8 vi￿on, éxp8ri8ncè and determlnatlon to guide MEC and to see li prosp8r thought thls par￿￿ of transition and transformation. This appoinknent has b8&) made. In a nutshell our current and future initiatives will continue with thelr focus on health, w811being and sustalnalxlity for individuals, communttles. the envlronment and Ihe economy in and b8yond the Tees Valley. However, rath8r than foltowlng one of the older frameworks we realise that In the highly intsrconnected wcffld in which we live the 8UCC8SS of any element within our purpose is to an extent dependent upon each of the other aspects of our Wc￿. This requires a more dynamic understarKling and approach to ensuring that the delivay of our objedr¥es ueates an impact regjlling in posltlve and sustainabl8 charKJes In our continualty (thanging enNironment. MEC has previously a(k)pted the 'One Planet Living. approach and has. historicalty. overseen the implementation of One Planet Livlng in Middlesbrough. The period of trdnsition in whith we haJi8 found ourselves has prompted. perhaps even necessitated. plans to reframe our strategy into a more flexble approach to both understand the challenges we all face arKI how best to articulate possible solutions. Atthcwgh wa are beginning the movo away from a mr8 rigid templated strLiciure of 'One Planet LiviryJ' we remain fully commltted to the Underf￿ng principlas but feel th8y are better articulated through a more Ilexible 'eo)system' approach vthich we will continue to develop over the next financial year. The principles we remain committed to arg: Engaging Cornmunltles in Cllmats Change and Encouraglng Mor8 PnMl8nt Use of Resources Promoting Heallhier Lrfestyles Encouragiro Greater Use of Sustalnabl8 Transport Contributing to Physical Environrrentsl Improvements Education and Awareness-raising Pethaps the best way to illustrate the ways we have worked out these principles during the year arn real lifa examples and pl￿ureS of'projects In actlon.. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 MEC Activities and impact MEC.. Cllmate Actlon Mlddlesbrough We doubled our output for engaging with young people and schools. Our Climale Action Clubs have been hugely popular. with schools on a waiting list to start. Our lessons and assemblies have helped arm young people with the knowledge they need to take the dimate action m8ssag8 hom8 to their families. Trees In Ihe Ground FEEDBACK the coryw4te i*h(nteff tr¢cpkning dllp ¥ I ljrfls't'd the two days and felt it l¥2s good 10 fYji,'I' %iime of rheir own time to Lio something good. They all wanted to thdnk you l()r your professionalism and Icnowledge of liv thL'y were doing it-. We saw our outy)ut for tr88 plantlng Increasing by the bigg8St number yét - almost 8000 trees in one quarter alone. &tes included s¢hools, publlc land and nature reserves including RSPB Salthome and 8Iu8 B811 Beck. En agin with Business Voluntsers from Cummins, Bardays and Wates group jolned us at green spa￿5 across Middlesbrough to meet our season's aim lo plant 5,000 Ire8s in the ground. and to create natural habitat for wildlife and people. This year. we decided to plant a hedge along a busy road in central Middlesbrough which will create a wildlife corridor as well as a visual and sound barrier for people using the small greenspace, footpath and cycle path next to the road. The first day with Cummin8 resulted in a good stsrt with 350 trees planted - 70 m8tres of h8dg8, For the next event, Cummins asked rf we could accommodate a larger group of over 20 volunleers. Snce we had a long stretch still to Flant along the road verge, wa agr8•J to continue the planting of the hedge. At the end of the day. Cummins employ8es had planted another 1000 trees and extended th8 hedge to 470 metres! MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and porforrnanco Hope Hack Event We were Invlt8d to ￿ th8 Environmental Facilitators al a Hope Colledvel Cl8veland Police event which was designed to give young p￿pIe the opwrtunlty to volce th8ir concams ab)ut current Issu8$ and expkfe Innovative solutions to these Issu8s. The. event was well attended with young people dIs￿SSIng the Issu8s that wore Important to them In thls arèna, vthich thgy presented to the audience folhjwlng much discussN)n. W•ar l( don't waste it March saw our hugely successfvl campaign to reduce old clothlng golro to landfill., and provlde freè clothing to those in need. Altogether, we supported over 200 peoplè. Communlty Actlon We have seen a record number of communlty actlon across Middlesbrough. indudlng allotment days, food training and W0￿shops. CAM is c(AlaboratirKJ with a new project, Communttles Growlng Together. to fulher th8 outcom8s and Impact for both. ho •tFntwd t¢*4antI￿h•d1?•t[￿nlkn￿5 Rdwith@rees*sWetoday- pl￿￿•TrIn¢lldits￿ ltsIKllt••¥ • y MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 .AAI food partnership The Middlesbrough Food Partnership (MFP) has continued ts collaboration with key slakeholders and broadened its netr￿rk to Tndude more voluntary. community, arKI social ente￿￿1$8 (VCSE) organisations. We have been adively involved in several initialives. including the Good Fo(*fj Local North East pilot and Dynarric Food Procurnment. and we secured a small grant from Thirteen to support food-basod projects wiihin the Ix)mmunty. In a significant collatK)rative effort, Teesside Universty. NHS Tees Esk arKI Wear Valley. and PAEC WOTked together on an NIHR-fiJrKled project liued increasing accessibility of affordable healthy food to adults liwng with S8vere Mentsl.Illness in Middlesbrough - in to communi needs: Ex lori 'Ihee él ns of add in which reached regional news. Additionally, durlng thls tlme. the MFP ha8 b88n Y￿rking towards achieving Ihe Sustsinable Food Places Gold Award. This process included submlttlng an application and hostlng a two4ay visit from the Sustainable Food Places team. Th8 new Sandy Flatts Communlty Garden. a space for locals to Come and leam how to grow food, get exercise and socialize, has been developed fom a boggy, w88dy fl8ld In January to a productiv8 shared allotm8nt space. Co&hhLVkitief GtOWi4y TogetAe In 6 monlhs we have had over 35 volunteers working.with us. some are regulers vtho ￿me most weeks and also attend the seasonal cookery training we run alonside the growng. As well as th8 physical and Mental health benetlts. the project also helps 8as8 soclal Isolatlon and we are running an end of season social meal for the volunteers hère at MEC In Novernber. One of our volunteer groups. Bridgg Hill Day Servlce for adults with leaming dlsabllltles. sent thls feedback: The groups rnally enjoyed being given the chance to help transfonn the plot. From seelng tt on the Ilrst session. to the changes made on th6 3nl, th8y w8re really impre889d with what Can be achieved in such a short anh)unt of MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 During the year MEC supported the openlng of 6 naw Eco Shops in schools and communlty s8ttlngs withln the T88s Valley area taklng th8 totsl of Eco Sh)ps to 31. Our partnership with Fareshare NE providgj 122 kik6 of surplus food to Eco Shops vthi¢h othepthvise would have gone to landfill. The number of Eco Shop visitors aVe￿3ed over 1.235 per week which represents the provision of 9,880 m8als par week. We continued to work cbsely funders to and tog8ther fadlltatsd the purchase of frldge and freezer8 to Eco Shops enablng them to prolLYKJ the sh8lf1rf8 of stock and offer a greater Choi￿ of, and ac￿$, to afft)rdabl8 food. MEC worked wlth T88sside University to Ca￿Y out a research project around th8 provision and us8 of sodal supermarkets that Involved participatw)n from over 200 young people. Communlty Engagomènt Here are a numbor of examples of vgrlous communlties were involved in MEC programs: Erx) Shop c(x)king classes induding a communal meal Food seIf4ufficien￿ workshops NHS Health Champions confer8nc8 Over 180 people participating In 'cllmate frfendv cookery sessions. using ingredients from our Eco Shops. At the Headstart Conference, hosted by Teessid8 University we ran workshops Mverfng wellbeing. Imyoving confidence, celebrating suGGess, and the environment & energy saving. Our achl8vem8nts, through our partn8rshlps, programs, projects and Communty engagement, evidence the succ6ss8s and 'r8al lif8. impart of MEC as we strive to effectively and efficlently d8llver benefits in Ilne with our core objectives. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. Governan￿ and Managomont Goveming Document MEC is a wmpany limited by guarantee gov8m8d by its Memorandum and Articles of Association incorporated 13th May 1997. Apwntment of Twstees MEC is managed by a Board of Management made up of the director5 of the charitable company and who are also its trustees fcy the purposes of charity law. As set out in the Artides of Association, the Board of Management must (x)nsist of not less than three and a maximurn number of 16. Trustees of the Board of Management are drawn from the public. private. academic, voluntary and community sectors of Middlesbrough. Nomlnations for new m8mbers are made to the Board of Management for approval. There is an active recruilmgnt process by the Trustees to encourag6 new members onto the Board of Management as vacancias aris8. MemlHs of the Board of Management are subject to rotation. At the Annu81 General Meeting. one third of the Board members retire. these being the lotvJest serving members. Retiring membgrs are eligible for reappointment. The Board of Management has undertaken a skills audit to assess the str8ngths of the Board and identfy skills neèds. Thls wlll be used in the recrultment process for new membèrs as w811 as infomiing future training for trustee8. A Dir8Ctor Is appointed to manage the day4048y operations of MEC. A management team o)mpri$ing the Diréctor, Senior Projécts Offic8r. Partnership Liaison Officer and Flnance Officer report to the Board of Management. Relat8d Paths MEC dellvers most of Its objectives through partn8rshlp working with oth8r voluntsry organlsallons. govemmant agencies. statutory bodles and Local Authorities. Of thes8. Mlddl8sbrough Council nominat8s four representatives to the Board of ManagemenL No oth8r organlsation currently appolnts representstivgs to the Board Managem8nt. Middlesbrough Council seconds two core members of staff to MEC. namety the Director. Sénior Projects Officer. The relationship between the Council and MEC Is documented in a Memorandum of Understsnding, which L8 negotiated each yèar b8iween Ihe two parties. Vlh8n seconded. the staff &t onty In th8 Interest of the charity. sk Manag8fflent Stratsgy The Truslees undertake a risk revie¥¥ on an annual basis as part of ￿ business planning pr(Kess. The information is used to develop a rbsk register which r￿ordS the pr￿dureS and systems that MEC will implement to mitigate the risks that have been identified and trj minimise the irnpad on the charity should the risks materialise. other signifirAnt areas of risk are identified in the Business Plan. contlnuing to deliver the aims and objectiV8s of the Chaiity in the current period of austerity and at a time of increasing demand for the services of the charity. mainiaining a diversity of income sources" increasing regulation. and de81ing with the1055 of key staff. MEC has developed a wide funding basè which is not overdependent on one source of incc¥ne: the Trustees see ThHintsining this broad base as a priority. Staff havè a wide base of skills and extensive experience. Systems are in place to aid the retention of staff. including staff supervision and appraisal systems. The Trustees are also awar8 of thos8 govemment policy areas that impact on the work of the organisation and monitor these. Financial ￿Sk5 and Fraud Eath year the Trustees undertakè an assessment of financial risk8 as part of the overall Risk manag￿￿nt Strategy. which forms part of lh8 annual business planning proc888. Particular attentKJn is drawn to risk of fraud. From the assessment, Ihe prfnclpal rlsks are Identified and approprlatè m8asures introduced to reduc8 these rlsks. Serious Incid8nts In line with Charity C¢Jnmlsslon guidance. the Trustees VAII r8POrt any serious in¢id8nts bolh to th8 Charity Commission and in the Annual Report. There have been no serious Inddents to report in the year 2023124. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financlal roview Overall P8rfonnanc8 MEC continued to maintain a sound finandal positlon durfro the year. with funding recelved from a variety of sources including grants and contracts. The charity beneffted from the close working relationship with Middlesbrough Council, esp9cially through the in-kind support wovided by the seconded staff. Rosujts The net surplus of ￿ndS for the year w8s £431.236. which constitutes £369,414 unspent but committed restrtc funds and £61,822 of unrestricted funds. The Trustees propose that the balance oflhe net surplus be transferred to the reserv85. Inveslment Powers and Policy Th8 Trustees, noting the nature of the charity's projed Program￿￿, which includes signtficant sums of grant paid in arrears, and the Financial R858rves Policy, have OP8ratsd a pollcy of maintaining availabl8 ￿ndS in an Interest- bearing dèposit account wlth Gompetitive levels of interest. In additi(m. some unrestrrcted funds ￿re placed. during tha year. in short-tenn investsn8nts funds yiolding a higher reknrn, with the interest reinvested into the charitable aclivities of the organlsauon. R&seNes Policy MEC has in place a Reserves Policy. whlch forms part of its Financial Regulations. The Tru8tees rev18w both the polky and the level of r888rv8S annually. MEC will rnaintaln sufficlent unrestrfcbd reserves to ertsure the Charity can ￿dresS th8 followng potential outgoings: Sufficient funds to cov8r th8 runnlng costs of th8 charity for a period of six months, assuming tFHt all extemal sourcès of funding ￿a$8. Th1318 cons￿jered sufflclent tlm8 to acc8SS Other extemal funding if thls Is avallable. Funds to wver all redundancy costs and notlce perfods elther Incurred as prolocts end or at the end of the 8iX-month period. Funds to Cover all other winding up c08ts of the charity at the and of th8 six-month perfod. A contlng8ncy against project overspends and short4emi cash flow difficulties resultlng, for example. from th8 payment of grants or other eam8d Incom8 In arr&qrs. The actual amount of free reseNes requlred to meet these potential outgolngs Is Ca1￿lated at the start of each. finan(aal year. In thèlr most recent review. the Trustees concluded that the level of free reserve needed by MEC is £408,51X. Thé current level of free r8sarv88 is £312,868. Plans forfuiuro perlods MEC must still foous its attention on the longer iemi, and th8 moré significant threat from th8 dlmgté and ecological ises along viith rising energy costs. The Trustees are vgry aware of the challenges resultlng from cuts in public expenditure, impacting dlre&ty on the op8rati￿ of the Charlty as V￿11 as significanuy increasing demand for its seryices. They recognise the need for the expedient use of resources to be combined with an imaginative Vision that seeks to find innovative ways to address the challenges of sustainable living in Middlesbrough and improving Quality of Lrf8 for the town's communities. They will remain vigilant in the management of resources in such cha118nging times. MEC Is already dellvering cycling. walking and affordable wamith iniliatives in the adlolning borough of StocktoTron- Tees. Redcar & Cl8veland and Hartlepool. Furthor opportunitias will be investigated for partnership WOTking across the widerTeas Valley area. The work of the CharFty has been boosted through the Indusion of a partnership of kjcal organisations, led by MEC. In the first tranch8 of projects supported by the Nalional Lottery Community Fund Climate AC￿On PrcNJramme. This Inttlatlve continues to support the engagemgnt of communities. especialty young peopl8, in tac￿ing climate change at a local level. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Audltor In accordance with the Companys articles, a resclution proposing that Azets Audit Services be reappolnted as audltor of the company will be put at a Gèn8ral Me8ting. The trustses, r8POrt was approved by the Board of Manag8m8nt Committee. S J Granger Trustaa i?1.12.1.. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMrrED A COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The management committee. who are 81so the directors of Middlesbrough EnVIr￿ment City Trust Limibd for the purpose of company law, are responsibl6 for preparing the Trust88s' Rèport and the financial stat8m8nts In accordanca ￿ryth appll¢able law and United Klngdom Accountlng Standards (United iangdom Gonerally A￿pted Accounting Practice). Company Law requlres thÈ management comffdttee to prapare financial statements for each financlal whith give a true and fair view of the state of affalrs of the charity and of the Incomlng resources and application of resources. Indudlng the Income And e¥penditure, of the charitable company for that year. In prepartng these financial statements. tho man48m8nt committee are required to: - select suitable aco)untlng pollcles and then apply them consIstent￿, - obserrfe the methryjs and principlas in th8 Charltles SORP; - make Judg8ments and 8Stirnates that are reasonab18 and prudenc and - prepare the finanL¥al ststements on the going concern basis unless rt is inapprwiate to presuffe that the charity wlll continue In op8ratlon. The management ￿Mmittee are reyJnsibl8 for k88ping adequale accountlng r8cords that dlsclose with reasonable aC￿r8¢Y at any tlm8 th8 flnanclal posllion of the charity and enabb thern to en8ur8 that the financlal statements comply wlth thè Compani8s Act 2006. They are also responslbla for safeguardlng the assets of lh8 charity and hence for taking re&8onable Steps ft)r the pr8v8ntlon and détedi(m of fraud and other Irregularttles. 10- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MANAGEMENT COMMIThEE OF MIDDLESBROUGH ENVIRONMENT crry TRUST LIMITED Oplnlon We hava audlted the financial statements of Mlddlesbrough Envlronm8nt City Tnjst Limited (tho 'charfV) for the year ended 31 March 2024 which ¢omprise the statement of finanoal 8ctlvlt18s, the balance sheeL thè ststement of cash flows and the notes to the fina￿la1 statements. Indudlng a summary of significant accounling policies. The financial r8POrtlng framework that has been applied in their pr8paratkin Is applicabl8 law and Unlt&J Kingdom Accounting St8nd8rds, Inc￿dIng Finan¢ial R8portlng Standard 102 Tha FlnanGlal Reporting St8nd8rd ap￿Icabl8 In the UK and Republic of Ir8land (United Kingdom Generally Accepted Aco)unllng Pra¢tlce). In our opinion, the financlal stateThnts: glve a true and fair vlew of the state of the chadtab18 companvs affair8 as at 31 March 2024 and of its incomiThJ resources and appllcatlon of resources. for thè year th8n énd￿. have been properly prepared in accordance wlth Unlted Kingdorn G8n8rally A(￿ptsd Accounting Practic8; and have b88n pr8par8d in ac￿rdance with the requirements of the Companles Act 2006. Basb for oplnlon We ¢onducted our audlt In accordance with Intsrnational Slandards on Audltlng (UK) (ISAS (UIQ) and appllcabl8 law. Our responsibilitles under those standards ar8 furth8r d88cribed in the Auditorfs ￿Spon￿bIll￿aS for the audtt ol the finanu'al statements section of our report. We are indep8nd8nt of the charity in accordance with the ethical requirements that are relevant to our a￿jIt of the financial statements In the UK including the FRC'S Ethlcal Standard, and we have fuffilled our other eth1￿1 responslbllltles in acc(Ydanc8 wlth these requirements. We b81i8V8 that the audit evidence we have obtained is sufficlent and approprfate to provide a basis for our opinion. Concluslons relatlng to golng conc•rn In audltlng the flnancial statéments, we have concluded that the trustees, use of the golng concem basis of a¢¢ounllng In the pr8parallon of thé financlal statements is appropriats. Based on the work we have performed, we havé not Id8ntlfi8d any mgtsrial uncertalntles relating to events or conditions tha( Individually or ¢o118ctlv8ly. may cast significant doubt on the tharivs abilty to contlnue as a going concem for a p8ris)J of at least tsvelve months from when the financial stat8m8nts are authorised for issue. Our responsibilities and the responslblllties of the management committee wlth rasp8Ct to going concem are describ8d in th8 r818vant sections of this rèpo othor Inforniallon The other Infomiatlon comprfses the infrjmiatlon included in the annual report other than the finar¢lal statements and our auditorfs report ther8on. The management commltte8 are responsible for the other information Contained withln the annual report. Our oplnlon C￿ the financial 8tat8m8nts do88 not cover the othèr Infomiatbn ar￿ we do not express any fonn of assurance concluslon th8reon. Our responsiblllty Is to read the other infomiation and. In doing so. consider whether the other information is materfally InCC￿S1$tenl tha financial ststements or our knowledg8 obt8lnad In the course of the audlt, or otherwise appears to be materlally misstat8d. If we identify such material inconsistend8s or apparent material mlsststements. we are requlred to determine vtheth8r thls giv&s rise lo a rrAterial misstatsm8nt In th8 financial statsments theThtsdves. If, b&%ed on the work we have p8rfomed. we condud8 that there Is a material misstat8ment of this other infomiallon, we are required to r8POrt that fact. We have nothing to report In thls regard. Matters on which wo are requlred to r￿Ort by oxcopllon We hav8 nothing to report in respect of the foltowlng matters In relation to whlch th8 Charities (Accounts and Reports) Regulations 2Cp)8 require us to report to you rf, in our oplnlon: the infonnation given in the financial statements is inconsistent In any material respect with th8 truste8S' report,. or $uffi¢l8nt accxjunting recwls hav8 not b88n kept: or the financial statements ar8 not In agreemènt with the accounting records; or have not recelved all the infomiallon and explanatic￿5 we r8qulre for our audit. 11 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDrroR'S REPORT {CONTINUED) TO THE MANAGEMENT COMM￿fEE OF MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED Responsibllltles of management commlttae As explained more fully in the staternent of trustees, responsibilitles. the management commlttaa. who are also the dirodors of the charity for the purpose of company law. are resportsible for Ihe preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the nagement commltt88 d8t8miin8 is necessary to enable the preparation of financial statsments that are free from matsrlal misstat8men( whether due to fraud or error. In preparlng thè financial stat8m8nts, the management commlttee are responsible for assesslng the tharitys ability to continue a8 a golng concem. dlsdoslNJ. as applicable. matters r8lated to golng ￿nCeM and using the golry conc8m basis of accountlng unless the managem8nt commltt88 either intend to Ilquldate tho tharltable company or to cease operations, or have no reallstic altsmative but to do so. Audltorfs r•sponslbllltl•s for tho audlt of the flnanclal statements We have been appointed as auditor under Secti(￿ 144 of the Chaiities Act 2011 and report in attOrdan￿ with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonabl8 assurance about whether the financial statsments as a whob are free from material misstatemenc whether due to fraud or error. and to issue an auditors report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guamtee that an audit conducted in accordance wTrth ISAS (UK) will always detect a material misstat8ment when it exists. Misstatements can arise from fraud or error and are consklered material rf. individualty or in the aggregate. they (x)uld reasonably be expected to influenGe the economic decisms of user¥ tsken on the ba8is of these financial statements. A fvrthgr de8(¥iption of our responslblllU8s Is avallable on the Financial Reporting Councll's website at". httpsjl wdw.frc.org.ukJaudltorsresponsibililias. This deS￿1p110n fonn8 part of our audltofs r8porL 12- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMIThEE OF MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED Extenl to whlch the audlt was considornd capabl• of detscting irrogularltlas, Includlng fraud Irregularities. including fraud, are Instances of nOn￿)MplianCe with laws and regulations. W8 d8slgn procedures in lin8 with our responsibilities, outlinad above and on the Financial R8POrtlng Council's web8ile, tt) dot8Ct materlal mi88tatement8 in r8SP8Ct of irregularities, including fraud. W8 obta]n arKI update our understanding of the entity, its adivllles, Its control environment, and likely future developménts, includlng In relation to the legal and regulatory framework appllcabla and how the entity is complying vAth that framework. Basèd on this understanding, we identfy and assess the risks of materfal mlsstatement of the finandal statam8nts. whether du8 to fraud or error, design and p8rfomi aud￿ procedures responsive to those rlsks. and obtain audSt 8vld8nce that is 8uffieiént and appropriate to provide a b8sis for our opinion. This includes consideration of the rtsk of acts by the enlty that wer8 contrary to applicable law8 and ￿gUlatIOnS, Induding fraud. In response to th8 risk of Irregularities and n0￿mplIanCe wlth law8 and r8gul8tion8, Including fraud. we designed procedur88 which includ8d.' Enquiry of management and those charged wlth governance around actual and potsntiol litigation and daim8 as wèll as actual. susp8Gted and allegad fraud; R8vlewlng minLrtes of m88tings of those charged Yoryth gov8mance; Assesslng the extent of compliance wlth the laws and regulations considered to have a direct materlal effect on the flnanclal statements or the op8r8tlons of the entity through enquiry and Inspection. Reifjewing financlal statement dlsclosures and t8Stlng to supporting documentation to assoss complianr vth appllcable laws and rogulatlons: perfo￿1ng audlt work over the risk of management bias and ov8rfd8 of controls. including testing of journal entrie8 and other adjustments for approprlateness. evaluating the buslness rational8 of Significant . transactions outside the nomial course of business and reviewlng accountlng estimatss for indicators of pot8ntial bias. Becaus8 of the Inherent limitations of an audit. there is a risk Ihat we wlll not detect all irreguladtles, Indudlng those leading to a mat8dal mlsststement In the financial Ststements or not￿OMpliance with regulation. This rlsk Increases the more that compllance wlth a law or w￿allOn is removed from the èv8nts and transactions reflected In the financial statements, as w8 wlll be less likely to bécom8 aware of instances of norKompllance. The rlsk of not d8tectlng a material misstatement resulllng from fraud is high8r than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, mlsrepresentstions. or th8 ov8rrid8 of int8mal rJ)ntrol. Use of our rnport Thls report is mad8 sol8ly to th8 charity's trustees, as a body, In accordance wlth part 4 of the Charftles (Ac(x)unts and Reports) Regulations 2008. Our audit work has been und8rtaken so that we might stale to the charfty's trustees those matters we are required lo stat8 to them in an auditovs report and for no other purpose. To the fullest ext8nt permitted by law, do not accepl or assum8 responslbility to anyone othèr than the charity and the charity's trustees as a iM)dy, for our audlt work. for this reporL or for the opinions we have fornad. Graham F gerald BA FCA DChA (S•nior Statutory Audltor) for and on bohalf of Azéts Audll 8ervlco8 Statutory Audltor Wynyard Park House Wynyard Avenue Wynyard United Kingdom TS22 5TB 28ts Audlt S8rvlces18 eligibl8 for appolntsment as auditor of tha charfty by vlrtue of its eligibillty for appohknent as auditor of a o)mpany under section 1212 of the Companies Act 2006. 13- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfcted Restricted funds funds 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Donations and legades Charitable activities Investments 108291 2.766 1.490.846 24,457 108.291 1,493.612 24.457 144.664 144,684 53,254 1.107,713 1,160,967 3.606 3,606 Tolal Incomo 135,514 1,490,846 1.626.360 201.524 1,107,713 1.309,237 Charitable activitses 111,387 1,083,737 1.195.124 182.140 1,127,072 1,309,212 Net incomlng revjurcos before transfers 24',127 407,109 431.236 19,384 (19.359) 25 Gross transfers betsveen funds 37.695 (37.695) ITT.800) Nat Income for tha yearl Not movement In funds 61.822 369.414 431.236 (58.416) 58.441 25 Fund balances at 1 April 2023 448.108 1.083.257 1,531,365 506,524 1,024,816 1.531.340 Fund balanc•s at 31 March 2024 51YJ,930 1,452.671 1.962,601 448,108 1.083.257 1.531,365 The statement of finarKial actlvttles Incl￿8 all galns and losses r8cognls8d In the y8ar. All incorne arFd expenditure derive from continulng actMtI88. The statement of financial activities also complies with the requirements for an inmme and expendi￿re account under the CompanlesAct 2006. 14- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Note8 Flxod assots Tanglble assets 11 40.555 34.027 Current assets Debto Cash at bank ar¥J in hand 12 70,609 1.981,046 53.143 1.556.712 2.051,655 1,609,855 Crqditors: amounts falllng due within one y￿r 13 (129,6091 (112,517) Net current assets 1,922,046 1.497,338 T•)tal as86ts lass curront Ilabllltles 1,962,601 1.531,365 Income funds Restricted funds 15 1,452,671 1,083,257 D8signated fvnds Generai unrèstricted funds 210,720 299.210 69,762 378,346 509.930 448.108 1.962.601 1.531,365 The company Is enlltled to the exemption from the audlt r8qutr8m8nt conlained in section 477 of the Companles Act 2006. for thè year ended 31 March 2024, although an a￿￿1t has been carried out under seclion 144 of the Charities Act2011. The diredor acknovledges his responsibilities for complyirKJ with the requirements of the Companies Act 2006 with respect to accounting rècords and the preparation of financial statements. The members have not r8quired the company to obtaln an audlt of Its flnancial st8t8m8nts und8r tho r8quirem8nts of the Companies ACÉ 2006, for the year In question in accordance wlth secllon 478. These financial statements hav8 been prepared in accordance wilh the provisions applicable to companie5 subject to the small companias regime. ncial stst8m8nts were approved by the Management Committee on ...... 11 l.,11.ut over S J Granger Trustsa Company roglstratlon number 03386853 15- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from opernting admtles Cash genérated from operations 19 414.197 54.663 Inv￿lIng activitig Purth8s8 of tangible fixed assets Proceeds from disposal of tanglbl8 fixed 8ss8ts Investment In￿me received (14,320) (28,095) 7.122 3,606 24,457 Net ￿$h gon•ratod froml{us•d In) Invèstlng actlvhlos 10,137 <17.367) Net cash usod in financing a¢tiviti•s Not Increase In cash and cash oqulvalants 424,334 37,296 Cash and cash 8quival8nts at beginning of year 1,556,712 1,519.416 Cash and cash 8qulval8nts at end of year 1,981,046 1,556.712 16- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity infomiatlon Mi(kllesbrough Environment Cty Trust Llmited is a private company Ilmlted by guarantee i￿[￿rated in England and Wales. The registered offic8 Is Sandy Flatts Lane, A¢klam, Mlddl8sbrough. TS5 7YN. United Kirydom. 1.1 A¢¢ountlng convenllon The finandal statem8nts have been prepared in accordanc8 With the chariV8 gov8ming document, the Companies Act 2Ch)6 and 'A¢¢ountlng and Reporting by Charltl8s: Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with th8 Flnanaal Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102). (as amended for accounting ￿rknds commendng from 1 January 2019). Tha charlty Is a Public Benefft Entity as defined by FRS 102. The financial statém8nts are prepared in sterling, which is the functional currerw of th8 charSty. Monetary amounts In these financial $tat8m8nts are rounded to the nearest £. The financial statements have been prepared under th8 hlstorical cost convention. The princip818ccountlng poliaes adopted are set out telow. 12 Golng concern At the time of approving the financlal statements. the management commlttee have a reasonable 8XP8Ctation that the charity has adequate resources to contlnue in operational exlst8nc8 for the foreseeable fU￿re. Thus the managèm8nt commltte8 continue to adopt the going concem basis of accounting In preparlng the financlal statements. 1.3 Charftablo funds Unrgstrictsd funds are available for use at the discr8tlon of the management committe8 in furtheMc8 of Iheir d￿rItable objective5. R8strlcted funds are subjèct to sp8cMc conditions by donor5 as to how they may be used. The Wry￿8$ and US8s of th8 restrlcted funds are set out In th8 not8S to the financial statem8nts. Endowment funds are subject to specific ¢onditlons by donors that the capital must b8 malntalned by the charity. 1A Incomo Income Is recognls8d vthen the charity is ￿gallY 8ntitl8d to it after any perfonnanc6 conditk)ns have been met. the amounts can be measur8d rellably. and bt is probable that Incom8 will be received. Cash d(￿atiOnS are recognised on recelpt. Other donations are re¢ognlsed once the charity has been notified of thè donatlon, unl888 perfornance ￿nditionS requlre deferral of the amount. Incom8 tax re￿Verable In relation to donatlons r8c8lv8d under GiftAid or deeds of covenant is recognised at the tlme of tha donatlon. Legades are recognised on re¢elpt or otherwlse If the charity has b88n nollfi8d of an impending distribution, the arnount Is knovm, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expondlturo All expendltur8 Is accounted for on an accruals basis and has been classified under headlngs that aggregate all costs related to th8 category. Expendlture is recognis8d wher8 there is a legal or ￿nStrUCtive obligation to make payments to third p8rt18s, It Is probable that the $8ttlem8nt wlll be required and the amount of the obligation can be measured reliably. I￿e￿Verable VAT Is charged as an expènsè agalnst the acfjvity for which expenditure arose. 17- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounllng pollchs (Conlinugd) Dlrect charltable 8XP8ndltur8 Includes the dlrect costs of th8 actmttes and depreciation on r8lated assets. Where suth costs rèlate to ffrt)rè than onè fvnctK)nal cost category. they have been spllt on an apwopriato 1.6 Tangible ilxed asséts Tangible fixed assets are initrally Measured at ￿$t and subsequenty m8a5ured at cost. net of depreciation and any impainnent losses. DepreGiation is recognised so as to vnite off the cost or valuation of assets less th￿r residual values over their useful lives on the following bases: Plant and equipment 10%-25% straight line The galn or loss arlsing on the dlsposal of an asset Is detemiined as the difference beiween the sa19 proceeds and th8 carrying value of the asset. and is rec(¥ni8ed in the Statement of financlal athltles. 1.7 Impalrnient of fixed assets At each reporting end date. the charlty revlews the carrylng amounts of Its tangible assets .to det8min8 whether th8r8 Is any Indlcallon Ihat thos8 ass8ts hav8 sufferéd an impairment loss. If any such Indh2titin exists. thè re¢overable amount of the a88et is estimatsd in order to deterniine the extent of the impaimient loss (if any). 1.8 Cash and cash oqulvalents Cash and cash 8quiva18nts Indude cash In hand. deposlts held at call wlth bank& other Sho￿tern liquid Investments with original maturitiés of three months or less, arKI bank overdrafts. 1.9 Flnanclal Instruments The tt￿rfty has elected to apply the provisions of SeLlion 11 'BaS￿ Financial Instruments. of FRS 102 to 811 of ts financial instrurnents. Finaniial instrurnents are rec(yJni8ed in the tharity's balance sheet when th8 charity becomes party to the (x)ntraciual provisions of th8 instrument. Financial assets and liabilities are offset. ￿ryth Ihe net amounts presented in the. ffinancial ststements. when ther8 is a18gally anforcaabla right to sèt off tha reLX)gnised amounts and there is an intention to settle on a net basis or to reali5e the asset and settle the liability simultaneously. Bask flnanclal assets Basic financial assets, vthith include debt¢)rs and cash and bank balances, are Inltlally measured at transaction price including transaction costs and are subsequently carrfed at amc*tised cost uslng the effectlv8 interest mothod unless the arrangement consttiutes a finandng transacAlon. where the transacfjon is mèasur8d at the present value of the future receipts disix>unted at a market rate of InteresL Flnancial as8ets lasslfied.as recebiable wlthln on8 year are not amortlswj. 18- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aceountlng poliel•8 (Continued) Impalnnent of llnano.al ass•ts Financial assets. other than those held at fair value through income and expenditure, are assessed ftjr indicators of impairment at each reporting date. Financial assets are impaired where there is objectwe evidence that. as a resuli of one or more events that occurred after the inilial recognition of the finanrial asset. the estimated future cash kn hav8 been affected. If an asset is impaired, the impairment loss is the differen￿ between th8 carying amount and the present value of the estimated cash flow5 discounted at the assefs original effective interest rate. The impairment loss Is re¢OgnIs￿ in net in￿me/{expenditura) ft)r the year. If there is a decrease in the impaimierrt loss arfsing frorn an event occurring after th8 impaimi8nt v￿S recognised. the impaimient is reversed. The reversal is suth that the current carrying amount does not exceed what the carying amount would have been, had the impairment not previously been recognised. The Impaimient reversal is recognised in net incon)el(8XP8ndiiure) for the year. Derecognltlon of financial a8￿ts Flnanclal assets are dereo)gnised ¢xly when the contractual rights to the cash flows from the asset expire or are settled. or when the charlty transfers the financial assèt and substantially all the risk8 and rewards of ownership to another entlty. or If som8 slgnltkant rfsks and rewards of ownèrship ar8 retalned but control of the asset has transferred to another paty that Is abl8 to sell the asset in its entirety to an unr8lat8d third paty. Baslc flnanqal lia￿'11t1•S Baslc financial liabilities, including creditors and bank loans are Initially recognised at transacli¢)n prl¢e unless the arrang8ment constitutes a finan(xng transaction, where the d8bt instrument Is measured at the present value of tha futurè paymènts dlscounted at a market rats of interest. Financial li8bilitl8s dassffled as payable wlthln one year are not amrtised. D6bt instruments ar8 subs8qu8nUy carrled at amortised cost, using the 8ff8Ctlv8 Intar8St rat8 meth(MJ. Trade creditors are obligations to pay for good$ or services that have been acquired in the ordinwy course of operations from suppliers. Amounts payable are classified as current liabl￿￿eS if paymenl is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors ar8 recognised Initially at transaclion price and subsequently measured at amortised cost using the effective interest method. Dorncognltlon of flnancial Ilabllltles Financial liabilities are d8reix)gnised when the Chari￿s contractual obligatK)ns ey4)ire or are discharged or cancelled. 1.10 Employee bonofits The cost of any unused holiday 8ntitl8ment Is recognised in the period in which the employee's services are rec6ived. Ternlnatlon benefits are re¢ognised Immedlately as an expense when the charity is demonstrably committed to terrninate the employment of an employee or to provide temination beneffts. Pension contributions in respect of d8fin8d contrlbutlon schemes are recognised as the Mntrlbutlons fall due. Two m8mb8rs of staff are members of a defined benefft scheme, however It is not possible to ascertain the Scheme asséts and liabllltles attrfbutabie to the charity, therefore this has beèn accounted for on the same basls as the defined ￿ntrI￿￿Jti0n schem8. 19- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estlmatos and Judg•m8nts In the appllcaion of the tharitys accounting policie5. the management committee are required to make jtyments, estimatss and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical exwience and other factors that are considerod to be relevant. Actual rnsults may differ from the8e 8stimat8S. Th8 8Stlmat8s and underlying a68umpl1¢￿S are ravlewed on an ongolng basls. Revisions to acc￿nting estimates are recognised in the p@ric￿ in which th8 8Stlmats Is r8vls8d where the revtslon affects l￿FY that period. or in the period of the revlslon and fubjre periojs where the revision affects both current and future perlods. t>onatiofjs and legacl•s Unrestri¢t0d Unrostrict 2024 2023 Other Surmjry Income Middlesbrough Council - Salaries (t)onation in KirMJ) Middlesbrough Council - Rent {Donation in Klndy Middlesbrough Councll - Utilitl8s (Donatlon In lfjnd) 6.445 78,846 6,000 17.000 9.710 134,954 108.291 144,664 -20- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable actlvllles Summary Restrlcted UnmtrlGtgd Total 2024 2023 Incorr￿ for Encouraging the Prudent Use of Resources Income for Promoting Healthy Lifestyles Income for Encouraging Greatsr Use of Sustainable Transport Income for Contributing to Physical Environmental Improvgments Incom8 for Education and Awareness Raising 461,234 863,9fy) 461.234 863,960 504.608 343.356 110,085 5,740 115,825 171.721 9,89) 45,677 9,890 42.703 33.873 107.409 (2.974) 1.490.846 2,768 1,493,612 1,160,967 Total 2023 Income for Encouraging the Prudent Use of Resources Income for Promoting Healthy Lifestyes Income for Encouraging Greater Use of Sustsinable Transport Income for Contributing to Physlcal Environmental Improvements Income for Education and Awareness Ralslng 504.068 343.356 504,068 343.356 132,091 39,630 171,721 33,873 93.785 33.873 107,409 13.624 1.107,173 53,254 1,160,427 21 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitabl8 aeliviti•s (Continuod) Income for Encouraglng the Prudont Usa of Resources R06trICt￿ Unr•strl¢l•d Total 2024 Total 2023 Staying Put Eco Grant Warm Homes R8dre88 Climate ActIC￿ Programme Blg Local Fu81 Vouch8rs 13,093 76.514 404,461 10,0()J 133,665 327.569 133,665 327.569 461,234 461,234 504,608 R￿trIa￿d Unr••trfd Tot•1 2023 Staylng Put Echo Grant Wami Homes R6d￿sS Cllmate Adon Programme Blg Local Fuel VrAKhers 540 13.093 76.514 404,461 10,000 540 13,093 76,514 404.461 10,000 504.068 504,609 ' -22- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charftable a¢tivitlo8 Icontlnuad) Income for Promotlng Hoalthy Utestylos R•strl¢tod Unre•irfctpd Total 2024 Totsl 2023 Public Health (Lifestyle Choice) Sustainable Food Cities You've Got This YGT Expenses Boro Active Explorers Teas Hub Eca) Shop Online Dashboard Rooted in Nature Growing Active YGT YGT Administrator Proiert Kitch8n NIHR& SMI Communltl8s Growlng Together Tees Valley Heatlng on Prescrfptlon 114.322 16,545 114.322 16,545 114,255 39,558 8.211 4,500 26.219 34,175 20,729 4,5 26.219 34,175 20,729 23.267 31,536 39,734 66,795 20,000 23,529 420 27,256 37,500 558,765 23,529 420 27,256 37,500 558,785 863,960 863,960 343,356 Restrlctod Unr•strlct•d Total Public He81th (Lifestyle Choice) Sustainable Food Cities YOU￿ Got This Boro Active Explorers Tees Hub Eco Shop Onlina Dashboard Rootsd In Natur8 Growng A¢￿ve YGT YGT Administrator 114,255 39,558 8.211 23,267 31,538 39.734 66.795 20.000 114,255 39,558 8.211 23,267 31,536 39.734 66,795 20,000 343.356 343,356 .23- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED ACOMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable activities (Continued) In¢oma for En¢ouraglng Greater Uso of Sustalnab Transport R•8trlthd Unr•gtrlct•d Tot•1 2024 2023 Departsnent for Transport {Blk8abilty) Local Sustalnable Transport Fund (Bike Academy) Stockton PedeBtrlan Tralnlng Hartlepool Pedestrian Training Shopmoblllty Income Hartlepool Bikeablllty Stoclrton Bikeability 48.328 48,328 73,231 16,885 6,Q30 33,600 5.745 16,620 19,610 280 5,460 5,460 2,821 18,600 40.336 2,821 18.600 110,085 5.740 115,825 171,721 Trital 2023 Department for Transport {Bikeabilty} Local Sustainable Transport Fund (Bik8 Academy) Stod Lrj 0> g> ¢ry r o ¢0 ts) Cq aj 0> Ec Jioajoo o) y**CYN to0￿00)r ¢ts0 4 ￿ In > Ir> r f£* ¢0 r a> ¢£4 )¢Dory 4X* Sli'l&£&81 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payabla 2024 2023 Grants to institutions.. - Senior Over 50s Club - Trinityyouth - Trtnity Centre - Ecoshop sét up - North Onnesby School - North Ormesby FC - NORAC -NOHub - Sue Green - Janet Clanc8y - North Omesby Hub. 380 2,542 500 1,330 3,000 500 500 322 25,520 500 500 100 100 38,890 66.312 8,372 -29- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payabl• {Continu•d) Trlnlty Youlh Funding to 8UPPQrt a parent and toddler group. Trlnlty Contre Funding for 8 8 book club event. Eco Shop Fundlng provlded to; Ubuntu Multlcultural C8ntr8. Streets Ahead. Park End Primary School, Marton Community Group, Corpus Christl Prlmary School, Berwick Hi118 Prfmary School, Whale Hill Primary School, Kader Academy. Unlty Clty Academy, Coulby Newham. TV Togeth8r, C¢Jmmunity Flrst Support Nelwork. Acth T88s Va118y, Glonéer Credit Union. Genesls Project. Tees Valley Womens Cèntre, Hemllngton H811, Health IAllag8 CIC, St Johns, Beech Grov8. St Hlldas. James Cook Unlverslty Hospitsal and Beckon Hill to the set up of Eco Shops. North Orni•sby School Funding to provide branded sweatshlrts for puplls. North Om* FC Fundlng for new training equipment. NORAC Funding to purchas8 w8bcBms'erKI 8ecurity pens. NO Hub To cover the cost of a messy play 8v8nt. Janet ClanrAy Contribution to neighl)ourhood tldy up and plants. Back Alley Makeovor I S Green To cover th8 Cost of planters and ¢omposL Sènlor Ovér SO8 Club To provlde banners arKI decorations for 8 Community street party. North Omie$by Hub To install a new kftchen. Managomant C•)mmlttee None of the manag8m8nt cx)mmittee (or any persons connected wlth th8m) recelved any remuneratlon, expertses or b8n8ffts from the charity during the year. MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees Numbor of employ008 The av8rage monthly number of employees during the year was: 2024 Number 2023 Number Seconded stsff Project staff 31 28 34 Employrnent costs 2024 2023 Seconded staff {donatlon In klndl Wagès and salaries Social security costs Other pension costs 78.846 544,442 32.001 23.890 135.400 495.553 22,514 1&192 679,179 671,659 Ther8 W8r8 no 8mployee8 whose annual remuneration was £60,000 or more. 10 Taxation The Charity Is exempt from tax on incom8 and gains falling within section 505 of the Taxes Act 1988 ￿ section 252 of the Taxation of Chargeable GainsAct 1992 to the extent that thes8 are applied to its charitable objects. 11 Tanglblo flxod as5ot• Plant and wulpm•nt Cost At 1 April 2023 Additions 89.540 14.320 At 31 March 2024 103,860 Dapreclatlon and Impairmenl At 1 April 2023 Deweclatlon dRrged in th8 year 55.513 7.792 At 31 March 2024 63.305 Canying amount At 31 March 2024 40,555 At 31 March 2023 34,027 31 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Debtors 2024 2023 Amounts falllng due wlthln onè year". Trade debtors PrepayThents and accnjed income 15,482 55,127 49,513 3.630 70.609 53,143 13 Cradllors: amounts falllng due wlthln one year 2024 2023 Notes Other taxation and social se￿r[ty Deferred 1￿me Trade cr8dltors Other creditors Accruals 8.239 19.509 18.961 57.715 25,185 6,970 14 7,527 49,606 48,414 129,609 112,517 14 Deforred Incorno 2024 2023 Other defer￿ income 19,509 The above relates to r8strid8d grant income which has been receiv8d to contrlbut8 towards the costs of ¢)verhead$ for the followlng year. Deferred income is included In tho ￿nancIal ststemants as follows: 2024 2023 D8f8rred Income Is Indud8d wlthln: Current liabilities 19,509 Movemgnts In the year. Deferred Income at 1 Ap￿1 2023 Released from prevlous periods Resources deferred in the year 10,000 (10,000) 19.509 Deferred income at 31 March 2024 19,509 -32- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Movemont in Fund¥ The income funds of th8 charity indude restricted fiJrKls comprising the following unexpended balan¢é$ of donatlons and grants held on trust for sp8clfic purposes: Movament In funds Balance at 1 Incomlng Rasources April 2023 r6sourcos exp•nd•d Transforn Balanco at 31 March 2024 EncouragirKJ the Prudent Usa ol Resources Promoting Healthy Lrfe5tyles Encouraging Greater Use of Sustsinable Transport Contrlbutlng to Physical Envlronm8ntal Improvements Education and Awar8n8ss Ralslng 304.069 474.677 461.234 863.960 (421,6341 (363,623) 139,937) 9.167 303.732 84,181 190,399 110.085 (158,854) 1.761 143,391 1.405 112.707 9.890 45.677 (20,799) (118,827) 10,909 (19,595) 1,405 19,962 Total Roslrietod Funds 1,083.257 1.490.848 11,083,737) (37,695) 1.452.671 Unrestlctad fund8 General fvnds Designated Funds.. -Prernise5 fund -Education and Awareness Raising -Encouraging Greater Use of Sustainabte Transport 237.389 132,748 (95,668) 38.399 312.868 82.849 (2.974) (1,114) 70 78,831 127.870 5.740 (14,6051 (774) 118,231 Total funds 1,531.365 1.626.360 (1.195.124) 1,962,801 The transfers belween funds have aris8n followlng a full review of fund balances by managemnt at the year -33- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 15 Movomont In Funds (Continuod) The Income fijnds of tha charity includ9 restricted funds comprising tha following unexpended balancès of donatlons and grants held on trusl for $F￿¢￿C purposes." Movement In funds Balanco at 1 Incoming Resour￿ Aprfl 2022 rnsourc•s •xpgnded Transfers Balan￿ at 31 March 2023 En￿uragIng the Prudent Use of Resources Promotlng Healthy Llfestyies Encouraging Greater Use of Sustainable Transport COntrfbu￿ng to Physlcal Environméntal Improvements Educatb?n and Awareness Raislng 284,864 438.648 504.608 343.356 (483,695) (316.229) 18.292 8,902 304.069 474,677 148,752 132,091 (115.276) 24.832 190,399 6.161 166,391 33,873 93,785 (56,405) (155,467) 17.n6 1,405 112.707 Total R•stricted Fund• 1.024.816 1.107.713 (1,127,072) TT,800 1.083.257 Unrn8tlctad funds General funds Designated Funds: 4Yemls8s fund ducatlon and Awareness Raising ncouraging Greater Use of Sustainabl8 Transport 436,762 148,270 (146,127) (201.516) 237.389 18.301 13.624 (8,786) 59.710 82.849 51,461 39.630 (27.227) 64,006 127,870 Total funds 1,531,340 1,309,237 (1.309.212) 1.531.366 16 Analy•ls of net assets botween funds Restrlcted Unrn•trl¢tsd funds funds Total Fund balances at 31 Marth 2024 are represented by: Tanglble assets Currfjnt as8etsl{liabilities) 13,993 1.438,678 26,562 483.368 40,555 1,922,046 1.452.671 509.930 1,962,601 MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMrrED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Anatysls of not a88ets between funds {Contlnuad) R•stricted Unr•strlct8d funds funds Total FurKI balan￿ at 31 March 2023 are represented by: Tangible ass8ts Current a8setsl{labifrtie6) 19.048 1,064,209 14.979 433.129 34.027 1.497.338 1,083,257 448.108 1,531.365 17 Oporallng lease ¢ommllm•nts At the reporting end date the charity had ￿tstandIng commliments for future minimurn18asè payments und8r In￿ancelIable operating leases. whlch fall due as follows: 2024 2023 Wlthln on8 year B8tween ￿0 and five years In over five years 6,914 26,286 24,000 6,914 27,200 30,000 57,200 64.114 18 Relatod party transactlons Remunoratlon of key management personnel The remuneration of key management personnel is as foltows. 2024 2023 Aggregate compensation 168.946 189,943 Key management personn81 includes £78.846 which relatés to those seconded from Middlesbrough Coundl. Cost is recognised in line with tha donation in kirKI as per the requirements of Statement of Recommended Practi¢e for Charftles. -35- MIDDLESBROUGH ENVIRONMENT CITY TRUST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Relatsd party tran5actlons (Continued) Transacllons wlth related partles During the year the charity provided funding to a prDject partner totalling £61.483 (2023 - £79.096). with £1.980 (2023 - £16.546) Included wlthln creditors at the balance sheet date. A Trustee of the charity is th8 CEO of th8 abov8 projed partnar. Teg5 Valley Wlldllfe TrusL During the year the charity provided funding to a project partner totslling £19,582 (2023 - £29.682). *ryth £953 (2023 - £6.283) Indud8d wlthln Creditors at the balance Sheet date.. A Trustee of th8 charlty Is al80 a Trusts8 of the above projèct pather, The Other Perspectlve CIC. 19 Cash generated from operatlons 2024 2023 SurpbJs for the year 431,236 25 Adjuslments for: Investsnent income recognis&J in ststement of financial activities Dewecialion and irnpairment of tangible fixed assets (24,457) 7.792 (3,606) Movements in v￿rkIng capital: (Increaseyde¢rease in debtors (DeLYease) in creditors Increasel(decrease) in doferred Income (17,466) (2,417) 19,509 70,208 (5,648) {10.000) Cash generatad from oporatlon• 414,197 54.663 20 Anatysls of changes In net lund$ The L*arfty had no debt during the year. -36-