Charity Number: 1074983
Company Number: 03527370
LANCASHIRE
ENVIRONMENTAL FUND
LIMITED (BY GUARANTEE)
Trustees. Report and Accounts
For The Year Ended
31 December 2023
MOORE & SMALLEY

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
CONTENTS
Charity Details
Report of the Trustees
Independent Auditor's Report to the Members
statement of Financial Activities
Balance Sheet
statemenl of Cash Flows
12
Notes to the Accounts

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
CHARITY DETAILS
Company Name
Lancashire Environmental Fund
Charity registration number
1074983
Company reglslration number
03527370
Trustee5
J Drury
F McGinty
A J Hughes
S Turner
Secretary
Lancashire County Council
Fund Manager
A Rowett (Resigned 1110612023)
E Morgan (Appointed 1010712023)
Auditor
MHA
Richard House
Winckley Square
Preston
PR1 3HP
Legal advisor
Company Secretary
PO Box 100
County Hall Democratic Services
Lancashire County Council
Preston
PR1 OLD
Principallcontact address
clo Lancashire Wildlife Trust
The Barn
Berkeley Drive
Bamber Bridge
PR5 6BY
Registered address
Company Secretary
PO Box 100
County Hall Democratic Services
Lancashire County Council
Preston
PR1 OLD
Members
Community Futures
Lancashire County Council
Suez Recycllng & Recovery UK Limited
Lancashire Wildlife Trust

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and
the audlted financial statements of the charity for the year ended 31 December 2023. The trustees have adopted
the provisions of the Statement of Recommended Praclice ISORP) "Accounting and Reporting by Charities" (FRS
1021 in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies sel out in the notes lo the
accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting
by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in Oclober 2019.
structure, governance and management
Lancashire Environmental Fund Limited (hereafter referred lo as'the charitable company") is a charitable company
limited by guarantee, incorporated on 13 March 1998 and registered as a charity on 1 April 1999. The charitable
company is governed by its memorandum and articles of association. The power of appointing and removing
trustees is vested in the members by way of an instrument in wriling signed by each member, each member having
the power to appoint one trustee.
The crileria used by Lancashire Environmental Fund Limited lo determine the pay and remuneration of key
management personnel are the same as those used by Lancashire Wildlife Trust from whom staff are seconded.
Lancashire Wildlife Trust use comparisons to external charilies for similar roles as a basis for determlning the pay
and remuneration of key management personnel.
Trustees of the charity
The directors of Ihe charitable company are ils trustees for the purposes of charity law. The trustees who have
served during the year and since the year end are set out on page 1. Truslees are appointed by the Board. The
Board's Legal Officerwill update the Truslees on changes lo the law affecting the scheme. The Fund Manager will
provide induction for new members.
The trustees delegate the assessment of applications lo an assessment group, which is chaired by the fund
manager. The fund manager is assisted by a small team and co-ordinates the daily operation of the charity. The
trustees meet quarterly to approve or refuse grants based on the recommendations of the assessment group.
Risk review
The board has conducted its own review of the major risks lo which the charity is exposed and systems have been
established to miligale those risks. Significant external risks are mitigaled by Professional Indemnity Insurance.
Internal risks are minimised by segregation of duties and checking procedures.
The major risks to which the charity is exposed due to ils management and administration being provided by LV
have been reviewed by the trustees of LWT. Inlemal risks relevant lo Ihe charity are being minimised by the
implementation of procedures for authorisation of all transactions. Risk management priorities of Lwf, impacting
on the management and administration of the charity, are quality systems, succession planning for key staff and the
regular review of systems.
Future legislative changes to the Landfill Communities Fund could result in Suez Recycling & Recovery UK Limited,
the landfill operator, deciding lo withdraw from the scheme. If this happens, the Lancashire Environmental Fund
Limited will have lo wind up after running down the existing general unrestricted fund balance.
The Fund could also face further challenges as a result of possible legislation to cap administration fees at 7.50/0 of
projecl expenditure. This represents an extremely challenging target for such a relatively small fund which does not
enjoy the benefits of economies of scale which other larger Landfill Communilies Fund distributors have.
However, the Trustees have made and will continue to make significanl efforts to reduce administration fees
wherever possible.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
The Lancashire Environmental Fund primarily distributes monies raised from the Landfill Tax paid by Lancashire
County Council. The current contract for waste management expires on 31sl March 2025 and the expectation is that
Ihe amount of Landfill Tax that the fund is likely to receive will reduce slgnificantly thereafter. Dependin9 on how
much this reduction is and also upon the administration costs of running the Fund il may well be thal Ihe continued
operation of the Fund becomes unviable. If this is indeed the case, alternative arrangements for the distribution of
any future and existing funds will have to be made.
The Fund relies on the continued support of Lancashire County Council who pay many ofthe third party contributions
required to enable the Landfill Tax income to be released.
Connected Charities and Organlsations
Lancashire Wlldllfe Trust Limited
The trustees consider Lancashire Wildlife Trust Limited {"LWT") to be a connected charity as it is a member of the
charitable company with the power lo appoint one trustee to the board. J Drury was a trustee of LWT until October
2019 and remains a trustee of Lancashire Environmental Fund. In addition, LWT provides management,
organisational, administrallve and supervision services to the charitable company under an agreemenl and both
parties operate from Cuerden Valley Park near Bamber Bridge. The charilable company has no employees of its
own, but subconlracls one full lime and two part time employees from Lancashire Wildlife Trustwhowork exclusively
on the charitable company's affairs.
Ouring ihe year, a total of £63,975 (2022.. £67,283) was payable for these services and other management,
organisalional, administrative and supervision services.
is established to promote the conservation of nature for Ihe purpose of study and research and to educate the
public in the understanding and appreciation of nature, Ihe awareness of its value and the need for its conservation.
During the year Ihe charitable company awarded grants tolalling £99,510 (2022.. £135,755) to Lwf in connection
with Ih05e objectives.
Lancashlre County Council
The trustees consider Lancashire County Council lo be a connected organisalion as it is a member ofthe charitable
company with the power to appoint one trustee to the board. S Turner is both a trustee of the charitable company
and Deputy Leader of Lancashire County Council.
One of the current functions of Lancashire County Council is to provide and maintain public open spaces including
country parks, greenway bridle paths, footpaths elc for the pleasure and enjoyment of the people of Lancashire.
During the year the charitable company awarded grants lotalllng £0 (2022.. £30,000) to Lancashire County Council
in connection with this objective.
Community Futures
The trustees consider Community Futures to be a connected charity as it is a member of the charitable company
with the power to appoint one trustee to the board. F McGinty is the Community Futures appointee and a Trustee
of the charitable company. The aim of Community Futures is to promote and develop social and community activity
in Lancashire, working through voluntary groups and in partnership wilh public authorities.
Suez Recycling & Recovery UK Limited
The trustees consider Suez Recycling & Recovery UK Limiled to be a connected organisation as it is a member of
the charitable company with the power to appoinl one Iruslee to the board. A J Hughes is the Suez Recycling &
Recovery UK Limited appointee and a Trustee of the charitable company. Suez Recycling & Recovery UK Limiled
are the waste management company Gontracled by Lancashire County Council to dispose ofthe waste in the county
which goes to landfill.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
Objectlves, actlvltles and public beneflt
The principal activity. of the charitable company is the support for environmental projects via an Entrust registered
environmental body which receives18ndfill lax credits and awards grants to environmental projects which meet the
criteria specified by the Landfill Tax Regulations 1996 (As Amended)..
Providing and maintaining public amenities and parks, within 10 miles of a landfill site, when the work
benefits the natural social or built environment.,
The provision, conservalion, restoration or enhancement of a natural habitat, maintenance or recovery
of a species within 10 miles of a landflll site.,
Restoring and repairing buildings which are for religious worship, or architeclural or historical interest
within 10 miles of a landfill site.
The trustees have had due regard to guidance published by the Charity Commission on public benefit.
Grant making policy
The charity invites applications for funding of environmental projects across the Lancashire area. Institutional
applicants are invited to submit a summary of their proposals in a specified format. The applications are reviewed
against specific criteria by the fund manager. Projecls may be funded over varying periods of time, therefore cost
and progress is monitored on a continuous basis.
The Iruslees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and
5etling the grant making policy for the year.
Achievements and performance
During the year, the charitable company awarded a total of £1,620,531 {2022'. £1,331,210 to 75 projects (2022.. 68
projeclsl while maintaining sufficient resources to enable charitable aclivilies going forward.
The Fund distributes grants on a quarterly cycle on a demand led basis. This makes il difficult to set specific targets
for the number and type of project applications received and supported. To ensure the number of applications is
maximised, the Fund Manager regularly attends funding events in Lancashire to promote access to Ihe fund.
Financial review
All of the £1,258,513 {2022: £1,265,423) landfill tax income was received from Suez Recycling & Recovery UK
Limited in the year. The Irustees anticipate the charitable company will continue to be dependent on this income
source.
The expectalion going fO￿ard is that the amount of waste going lo landfill and therefore the landfill tax income paid
to the Fund will start lo reduce as alternative contracts for disposal of waste are entered into by LCC.
In addition to the grants awarded of £1,620,531 {2022'. £1,331,210), previously awarded balances to1311ing £137,672
12022.. £112,159) were written off and this resulted in a net grant cost for the year of £1,482.859 (2022- £1,219,051).
At the year end, grant balances tolalling £1,845,449 (2022.. £1,637,692) remained unpaid.
Further to the cosls of grant awards, governance and support costs of £116,156 (2022.. £119,981) were incurred
and the excess of expendilure over income for the year was £273,778 (2022: £49,420 excess of expenditure over
income).

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
At the year end, Lancashire Environmental Fund was holding a balance of £166,081 {2022'. £146,137) as an agent
for Lancashire County Council. This amounl is being used to cover the third party conlribulion payments required
to draw down funds to enable payments of grants awarded under all the Grant schemes including the Green Grant
scheme. During the year an amount of £2,159 (2022: £333) interest on these monies held was received. Amounls
tolalling £565 (2022.. £7081 were disbursed to Suez Recycling & Recovery UK Limited to facilitate the drawdown of
funds for the Green Grant scheme lotalling £5,13912022'. £7,077). £40,00012022.' £40,000) was paid to secure
funding under the other grant schemes during the year.
Investment policy
Surplus funds are héld on deposit with Nationwide Building Society and The Royal Bank of Scotland, to ensure a
competitive interest rate as well as security and fund accessibility.
Interest earned is reviewed regularly by the Finance Officer. The trustees consider the returns achieved lo be
satisfactory in the current investment climate.
Reserves pollcy
The general unrestricted fund balance of £794,06212022.' £1,067,840) which remains unallocated will be applied to
future awards.
The level of general unrestrlcted funds is reviewed before grant commitments are made to ensure that the balance
of these funds is always sufficient to cover current and proposed grant commitments and ongoing administration
costs. The trustees are concerned lo maximise the benefit to the community of their grant making policy. The
trustees, however, have lo work within the statutory framework set out in the Landfill Tax regulations and the
compliance control of Enlrusl, the regulator of the Landfill Tax Credit Scheme.
£150,000 of unrestricted funds have previously been set aside in a designated reseNe to provide for transitional
costs, in the evenl of landfill operations ceasing as a result of stalutory changes to the Scheme or a decision of the
landfill operator. The reserve was calculated on the basis of an 18 month wind-up at an annual cost of£100,000 to
provide support for existing grant-funded projects. The trustees have reviewed the level of the designated reserve
and have decided to keep it as this level, subject to continuous review in Ihe future.
The tolal fund balances at 31 December 2023 were £944,062 (2022.. £1,217,840).
The required level of free reserves is currently £nil as the designated fund has sufficient resources to provide for
foreseeable transitional Gosls. The actual level of free reserves at 31 December 2023 amounted to £794,062 (2022:
£1 ,067,840). Reserves were built up in the early years due lo uncerlainty over the continued funding from Landfill
operations. At that time it was Ihe Trustees intention to hold sufficient funds to provide for five years of grant and
adminislralive expenses following cessation of funding. This is no longer the case and the Trustees are actively
looking lo reduce the amount of free resewes held.
It is the intention of the Trust to continue to reduce reserves through the issuing of grants. The rate at which reserves
are distributed is limiled by the number and value of applications received, and by the number of those applications
that meet the requirements as set out in the Objectives and in the Landfill Tax Regulations. The Trust actively
encourages applications through advertising and promotion of the scheme.
Future plans
The Trust will continue lo offer grants in line with the objects subject to the potential impact of the factors highlighted
in the risk review.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
Auditor
MHA are deemed lo be re-appoinled under section 48712) of the Companies Act 2006.
Trustees, responslbllltles
The Iruslees {who are also directors of Lancashire Environmental Fund Limited for the purposes of company lawl
are responsible for preparing the Trustees, Report and the financial stalements in accordance with applicable law
and Uniled 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 stale of affairs of the charitable company and of the incoming resources and application of resources,
including the income and expendilure, of the charitable company for the year. In preparing these financial
statements, the Irustees are required to=
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charltles SORP 2019 (FRS102)-
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained In the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any lime the financial position of the charitable company and enable them to ensure Ihat the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities.
In so far as the trustees are aware:
Ihere is no relevant audit information of which the charilable company'5 auditor is unaware., and
the trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the audilor is aware of that informalion.
In preparing this report the Trustees have taken advantage of the small companies exemption provided by the
Companies Act 2006.
The report was approved by the board on 10th July 2024 and signed on ils behalf by
S Turner
Trustee
H Ma¢Andrew- Lancashire County Councll
Secretary

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
FOR YEAR ENDED 31 DECEMBER 2023
Opinion
We have audited the financial statements of Lancashire Environmental Fund Limited (the 'charilable company,) for
the year ended 31 December 2023 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the
Cash Flow Slalemenl and notes lo the financial statements, including significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
R&publiG of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements=
give a true and fair view of Ihe state of the charitable company's affairs as al 31 December 2023, and
of ils incoming resources and application of resources, including its income and expenditure, for the
year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducled our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)} and applicable
law. Our responsibilities under those slandards are further described in the Auditor's responsibilities for the audlt of
the financial statements section of our report. Wa are independent of the charitable company in accordance with
the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We
believe that the aLFdit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Concluslons relating to golng concern
In audiling the financial statements, we have concluded that the Irustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriale.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubt on Ihe charitable company's ability to continue
as a going concern for a period of at least Iwelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in Ihe Irustees annual report, other than the financial
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 statemenls does not cover the other information and, except to the
extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is to read the other information and, in doing so, consider whelher the other information is materially
inconsistent with Ihe financial statements or our knowledge obtained in the course of the audit or otherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether this gives rise to a material misslatement in Ihe financial statements themselves. If,
based on the work we have performed, we conclude Ihat there is a material misstatement of this other informatlon,
we are required to report Ihat fact.
We have nothing lo report in this regard.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS (CONTINUED)
FOR YEAR ENDED 31 DECEMBER 2023
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit-
the information given in the trustees, report {incorporatlng the directors, report) for Ihe financial year for
which the financial statements are prepared is consistent with the financial statements., and
the directors, report has been prepared in accordance wilh applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misslatements in'the directors, report.
We have nothing lo report in respect of the following matters in relation to which Ihe Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial slatements are not in agreement wilh the accounting records and returns., or
certain disclosures of directors. remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemption in preparing the directors,
report and from the requirement lo prepare a strategic report.
Responslbillties of Trustees
As explained more fully in the trustees, responsibllities statement sel out on page 6, the trustees (who are also the
directors of the charitable company for the purposes of company law) are responsible for the preparation of the
rinancial statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial stalements, the trustees are responsible for assessing Ihe charitable company's ability lo
continue as a going concern, disclosing, as applicable, matters relaled lo going concern and using the going concern
basis of accounting unless the trustees either intend lo liquidate the charitable company. or to cease operations, or
have no realistic allernalive bul lo do so.
Auditor's responslbilities 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 (UK) will always detect a material misslalemenl when it exisls. Misslatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence
the economic decisions of users taken on the basis of these financial slalemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We dasign procedures in
line with our responsibillties, outlined above, to delect material misstatements in respect of irregularities, including
fraud. The specific procedures for this engagement and the exlenl to which these are capable of delecling
irregLtlarilies, including fraud is detailed below..
Obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing
on those laws and regulations that have had a direct effect on the financial statements. The key laws and
regulations we considered in this contexl include Charities Act and Entrust regulations. In addition, we
consider compliance with employee legislation, as fundamental to the Charity's operations-,

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS (CONTINUED)
FOR YEAR ENDED 31 DECEMBER 2023
Discussions with management, including consideration of known or suspected instances of noncompliance
with laws and regulations and fraud.,
Enquiry of management and those oharged with governance around actual and potential litigation and
claims.,
Performing audit work over the risk of management override of controls, including testing of journal entries
and other adjuslmenls for appropriateness, evaluating the business rationale of significant transactions
outside the normal course of business and reviewing accounting eslimales for bias.,
Auditing the risk of fraud in revenue, including through the testing of the cut off of income at the year end
and proof in total of donations to ensure revenue is complete in the financial slatemenls and recognised in
the correcl 8ccounling period.,
Reviewing minutes of meelings of Ihose charged with governance; and
Reviewing financial stalement disclosures and testing to supporting documentation lo assess compliance
with applicable laws and regulations.
Because of the inherent Ilmitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk increases
the more that compliance with a law or regulation is removed from the events and transactions reflected in the
financial statemenls, as we will be less likely lo become aware of instances of non-compliance. The risk is also
grealer regarding irregularilies occurring due to fraud ralher than error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
https'.Ilwww.frc.org.uklOur-WorklAudiUAudit-and-assurancelStandards-and-guidancelSlandards-and-guidance-
for-auditorslAuditors-responsibililies-for-auditlDescription-of-auditors-responsibililies-for-audit.aspx
This description forms part of our auditor'5 report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we mighl state to the charitable
company's members those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company's members as a body, for our audit work, for this report, or for the opinions
we have formed.
N(((olo Pk(N
Nicola Mason
For and on behalf of MHA, Slatulory Auditor
Preston, United Kingdom
MHA is the trading name of Maclntyre Hudson LLP, a limited liability partnership in England and Wales (registered
nLFmber OC312313}

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2023
Designated
funds
2023
General
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
1,258,513
66,724
1,258,513
66,724
1,265,423
24,189
Total Incorne
1,325,237
1,325,237
1,289,612
Expenditure on:
Charitable activities
1,599.015
1,599,015
1.339,032
Total expenditure
1,599,015
1,599,015
1,339,032
Net movement in funds
(273,778)
(273,778)
(49,420)
Fund balance blf at 1 January 2023
150,000
1,067,840
1,217,840
1,267,250
Fund balance clf at 31 December 2023
150,000
794,062
944,062
1,277,840
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Current assets:
Debtors
Cash at bank and in hand
48,456
2,929,127
21,085
3,009,073
Total current assets
2,977,583
3,030, 158
Liabilities:
Creditors: amount falling due wilhin
one year
10
(2,033,521)
(1,8t2,318)
Net current assets.
944,062
1,277,840
Net assets less current liabilities
944,062
1,217,840
The funds of the charlty:
Unrestricted..
General
Designated
794,062
150,000
1,067,840
150,000
Total funds
944,062
1,217,840
These financial statements have been prepared in accordance with the provisions applicable lo companies
subjecl lo the small companies regime.
The financial statements were approved and authori5ed for issue by the Board on 101h July 2024 and signed on its
behalf by..
S Turner- Trustee
Company Regislration Number: 03527370
The noles on pages 13 to page 22 form part of these financial slatements.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2023
2023
2022
Note
Cash inflows from operatlng actlvities:
Net cash provided by/(used In) operatlng
actlvltles
12
(146,670)
39,609
Cash flows from investing activities:
Interest receivable
66,724
24,189
Net cash provided by/(used In) Investing
activities
66,724
24,189
Change In cash and cash equivalents in the year
(79,946)
63,798
Cash and cash equlvalents at 1 January 2023
3,009,073
2,945,275
Cash and cash equivalents at 31 December 2023
2,929,127
3,009, 073
-12-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2023
Accounting policies
General information and basis of preparation
Lancashire Environmental Fund Llmited Is a company limiled by guarantee and does not have a share
capital. The liability of the members is limited and is not to exceed £1 per member. The address of the
registered office is given In Ihe charity information on page 1 of these financial slatemenls. The nature of
Ihe charity's operations and principal activities are detailed in the Trustees Report on pages 2 10 6.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared in accordance wilh Accounting and Reporting by Charities.. Slalement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard
applicable in the Uniled Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies
Act 2006 and UK Generally Accepted Accounting Practice.
The financial stalements are prepared on a going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in slerling which is
the functional currency of the charity and rounded lo the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise slated.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity and which have not been designated for olher purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for partlcular
purposes. The aim and use of each designated fund is sel out in Ihe notes to the financial statements.
Income recognltion
Income arising from the Landfill Tax Credit Scheme is included in Ihe Statement of Financial Activities
{SoFAI when the charity is legally entitled to the income after any performance condilions have been met,
the amount can be measured reliably and it is probable that the income will be received.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further
detail is given in the Trustees, Annual Report.
Investment income is earned through holding assels for investment purposes such as shares and property.
It includes interest received from interest bearing deposit accounts. 11 is included when the amount can be
measured reliably. Interest income is recognised using the effective inlerest melhod.
Expenditure recognition
All expendllure is accounted for on an accruals basis and has been classified under headings that aggregate
all oosts related to the category. Expenditure is recognised where there is a legal or constructive obligation
lo make payments to third parties, it is probable that the settlement will be required and the amount of the
obligalion can be measured reliably.11 is categorised under the following headings..
Expenditure on charilable activities includes grants awarded.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED}
YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
Expendlture recognition (contlnued)
Grants payable to third parties are within the charitable objectives. Grants are due for payment when the
grantee makes an approved claim. Previously grant liabilities were treated as falling due within one year
unless the terms of the grant offer anticipated payment after one year from the balance sheet date and by
reviewing the current status of the projecl at the year end and when it was anticipated to be completed.
Grants are released to the income and expenditure account when:
projects are cancelled by the grant applicants;
the original grant application exceeds the final amount claimed on project completion.
Support costs allocatlon
Support costs are those that assist the work of the charity but do not directly represent charitable activities
and include office costs, governance costs, administrative payroll costs. They are incurred directly in support
of expenditure on the objects of the charity.
The analysis of these costs is included in note 5.
Debtors and creditors recelvablelpayable within one year
Debtors and creditors with no staled interest rate and receivable or payable within one year are recorded
at transaction price. Any losses arising from impairment are recognised in expenditure.
Ernployee benefits
When employees have rendered service to the charity, short-term employee benefits to which Ihe
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that
service. Staff costs are recharged to the charity by Lancashire Wildlife Trust.
Going concern
The financial slalemenls have been prepared on a going concern basis as the trustees believe thal no
material uncertainties exist. The truslees have considered this when making assessment of the level of
funds held and the expected level of income and expenditure for 12 months from aulhorising these financial
slalements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to
be able lo continue as a going concern.
Judgements and key sources of estimation uncertalnty
There have been no significant judgements (apart from those involving estimates) made in the process of
preparing the financial slalemenls.
There have been no key assumptions concerning the future and other key sources ofestimation uncertainty
at the reporting dale that have a significant risk of causing a material adjustment to the carrying amounts of
assels and liabilities within the next financial year.
-14-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Donations and legacies
2023
2022
Landfill tax income
1,258,513
1,265,423
1,258,513
1,265,423
All of the income from donations and legacies in the current and previous year was unrestricted.
Investments
2023
2022
Interest receivable from interest bearing deposit accounts
66,724
24,189
All of the income from investments in the current and previous year was unreslricted.
Charitable actlvltles
2023
2022
Grants (note 8)
Governance and support costs (note 5)
1,482,859
116,156
1,219,051
119,981
1,599,015
1,339,032
All of the expenditure on charilable aclivities in the current and previous year was unrestricted.
-15-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Governance and adminlstration of the charitable company
2023
Basis of
apportlonment
Support
costs
Governance
2023
Entrust levy
Staff costs
Publicity
Audit fee
Stationery
Senior mgt charge
Office Expenditure
Other
Income
Slaff lime
Usage
Usage
Staff lime
Staff lime
Staff time
Staff time
43,052
57,020
76
43,052
57,020
76
6,042
41
5,668
3,831
426
6,042
37
2,834
3,448
2.834
383
426
9,689
106,467
116,156
2022
Basls of
apportionment
Support
costs
Governance
2022
Entrust levy
staff costs
PubliGIty
Audil fe8
Stationery
Senior mgr charge
Office Expendilure
other
Income
staff time
Usage
Usage
Slaff time
Slaff time
Staff time
Staff time
43,069
60,276
1,452
43,069
60,276
1,452
5,700
52
5,668
3,509
255
5,700
47
2,834
3,158
2,834
351
255
9,145
110,836
119,981
The 2023 and 2022 costs were all charged to unreslricted general funds.
During the year the charitable company, which has no employees of ils own, subcontracled one (2022.. one)
full-lime and two (2022.. two) part-time employees from Lancashire Wildlife Trust lo work exclusively on the
charitable company's affairs. All these employees undertook work relating lo the provision of granls.
The aggre9ate payroll costs of three persons were as follows-
2023
2022
Gross salaries
Social security costs
Pension contributions
52,107
3,598
1,315
54,344
4,090
1,842
57,020
60,275
No employee received emoluments of more than £60,000.

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Audltor's remuneration
2023
2022
Auditor's remuneration (net of VATI..
For audit services
5,035
4, 750
Trustee and key management personnel remuneration and expenses
The directors, who are also trustees, of the charilable company are non-executive, are not remunerated
and as such are nol regarded as employees. None of the trustees received any reimbursement of any
expenses. Indemnity insurance of£99512022'. £1,001) was purchased during the year, to protect the charity
and its truslees from any loss arising from the actions of the trustees.
The key management personnel of the charity comprise only the fund manager. The total cost of key
management personnel of the charity (including employer's pension and National Insurance contributions)
was therefore £34,915 (2022.. £41,372).
Grants
2023
2022
Balance payable brought forward
1,637,692
1,558,240
Previously awarded grants released
New grants awarded in Ihe year
Nel grant cost in year (note 4)
(137,6721
1,620,531
(172, 159)
1,331,210
1,482,859
1,219,051
3,120,551
2,777,291
Grants paid in Ihe year
Grants previously paid in advance returned
(1,275,102)
(1, 139,599)
Balance payable carried forward
1,845,449
1,637,692
Being:
Due within one year (note 10)
1,845,449
1,637,692
During the year the oharilable company awarded 75 grants (2022: 68 grants). All grants in the year were
awarded to institutions and all were amenity related.
An analysis of new commitments (grants awarded) in the year is shown below.
Previously awarded grants released relate to grants where the intended recipient no longer meets the
criteria for granl award or does not require the full grant award any longer.
-17-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Grants (continued)
Grant Awarded
Community Facility Improvements
Bolton le Sands Community Centre Solar panels
Building for Growth, Moorlands Church, Lancaster
Rammy Men Kitchen Expansion & Access, Stubbins Vale Mill, Ramsbottom
Solar panels, Low Moor Reading Room and Club, Clitheroe
Barton & Myerscough Village Hall Energy Generation and Storage
Trawden Forest Community Cenlre, Modular Building and Sensory Garden
New Pathway, West End Community Hall, Oswaldtwistle
Hurst Green Village Hall Replacement Windows
Sanctuary Cookalongs Kitchen Improvements, Catherine Beckett Centre, Preston
New Roof at Cowpe Institute
Storeroom Renovation, Mellor Brook Community Cenlre
Rewiring Victoria Institute, Calon
Washroom Refurbishment at Catlerall Village Hall
Kitchen Refurbishment at Padiham Road Methodist Church
Claughton Memorial Village Hall Regeneration
Wesl Bradford Community Hub Renovation
Developing New Day Church CommLtnity Hub
Efficient Warmth, Greenhill Community Hub, Skelmersdale
Sound & IT at Garstang Methodist Community Hub
Community Network Outreach Service, Leyland, Community Kitchen
New Footpath at Salesbury Memorial Hall
Ingol & Tanterton Community Trusl, local Treasures Inexlricably Linked
Over Kellel Jubilee Bells
Kitchen Upgrade al West Craven Baptist Church
Knowle Green Village Hall Nel Zero
PCC of St Michaels & All Angels Church, Croston, Boiler Replacement
Sl Andrews Church Ashton, Roof Renovation
Roof Replacement at Tarlelon Scout Group Community Centre
New Community Facilities at Whalley Old Grammar School Community Centre
Community Kitchen al Williams Hall Vocational Centre, Nelson
Solar Solution al Parbold Community Hall
Central Healing Boiler at Sion Baptist Church, Burnley
Young Inskip People Centre, Refurbishment and Development
Solar panels at st Marys Clitheroe Communlty Hall
Poullon Le Fylde Community Hall Sustainable Roof Phase 2
St Pauls PCC Low Moor, Clitheroe Enhancing Community Space
Communlty Kitchen at St Laurence's Church, Chorley Wellness Hub
£2,480
£40,000
£18,960
£14,250
£36,630
£20,000
£11,250
£9,000
£40,000
£30,000
£3,517
£40,000
£18,550
£10,000
£40,000
£40,000
£31,120
£48,280
£7,000
£10,540
£27,200
£39,890
£7,900
£3,950
£20,000
£18,950
£21,430
£27,830
£40,000
£40,000
£39,200
£32,625
£7,310
£16,630
£40,000
£11,000
£40,000
Total
£905,492
Habitat Creatlon and Management
Lancashire Wildlife Trust, Aughton Woods & Lawsons Meadow Resloralion
Adlington Pollinator Project
Lancashire Wildlife Trusl Booths Invasive Species
Woodlands Trust, Improvements at Swindells Woodland, Billington
RSPB Leighton Moss, Lower Hide Replacement
£40,000
£1,000
£26,760
£9,040
£40,000
Total
£116,800
-18-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Grants (continued)
Grant Awarded
Parks, Gardens and Open Spaces
Waterfool Forward, Trickells Memorial Ground Improvements
Friends of Newton Community Park, Phase2 Transformation
Enhancing Community Space at Padiham War Memorial Ground
Lancashire Wildlife Trust, Palhs for All Al Boillon Woods, Brockhole5
Sallerforth Parish Council Community Garden
Hyndburn Leisure, Clayton Community Garden
Making Freemans Wood, Lancaster, Accessible,
Tanlerton Village Centre Ltd, Garden Project
Thornlon Clevel,'eys FC Gamble Road Landscaping Scheme
£40,000
£28,150
£40,000
£32,750
£40,000
£2,160
£40,000
£17,000
£40,000
Tolal
£280,060
General Environmental Improvements
stanhill Village Community Association, Kemp Delph Improvements
Waddington Parish Council Village Habitat creation and Access
£40,000
£11,075
Total
£51,075
Play Areas and Recreational Facilities
Sycamore Grove Playpark Refurbishment, Marsh Community Centre, Lancaster
Carnforth Community Swimming Pool Extension
Improvemenls to Draper Avenue Play Area, Eccleston
Thornton Cleveleys Sports Club Play Area
Friends of Memorial Park, Padiham, Wheeled Sports Facility
Childrens Play Equipment, Ribchester Playing Fields Trust
Grindleton Recreation Ground, Multi Use Games Area Renovation
Kidtopia, Mercer Park, Clayton with Altham Prospects
The Last fence, Read & Simonslone Communily Tennis Club
Fell View Play Area Improvements, Calon with Littledale Parish Council
Hapton Pump Track, Hapton Parish Council
£28,775
£40,000
£40,000
£5,000
£5,000
£16,500
£13,060
£40,000
£20,250
£13,500
£40,000
Total
£262,085
Green Grants
Balance Equipment at Bay Cotlage Play Area, Heysham
Garstang Millenium Trust Bird Hide & Feeding Station
Friends of Whalley Moor Woodland, Queens Memorial Bench
Friends of Haslingden Cemelery, Green Shoots Project
Fooipalh Access Improvements, Ramsgreave Parish Council
New Tools for Fairfield Association Nature Reserve
£512
£1,000
£906
£1,000
£650
£951
Total
£5,019
Overall Total
£1,620,531
-19-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Debtors
2023
2022
Accrued income
48,456
21,085
All accrued income related lo unrestricted general funds.
10
Creditors: amounts falllng due within one year
2023
2022
Grants awarded {note 8)
Other creditors
Accruals
1,845,449
182,024
6,048
1,637,692
168, 920
5, 706
2,033,521
1,812,318
During the year ended 31 December 2023 Lancashire County Council paid £nil12022: £nil) lo the fund lo
cover the cost of third party contributions necessary to draw lahdfill lax income to finance the Green Grant
Scheme golng forward. In the event ofthe Green Grant Scheme ceasing lo exist, the monies are to be used
specifically to pay third party contributions lo draw landfill tax income lo be allocated to Lancashire
Environmental Fund's other remaining grant schemes. At the year end an amounl of £26,080 {2022'.
£24,487) was held within other creditors.
During the year ended 31 December 2023 Lancashire County Council paid £80,000 (2022.. £80,000) lo the
fund lo cover the cost of third party contributions necessary lo draw landfill tax income to finance the Main
Grant and Small Grant Schemes going foward. At the y,ear end an amounl of £140,001 (2022.. £121,650)
was held within other creditors.
-20-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
Summary of funds
Total
unrestricted
fund
General Designated
fund
Fund
Fund balances at 31 December 2023
Represented by:
Current assets
Current liabilities
2,827,583
(2,033,521 }
150,000
2,977,583
(2,033,521)
794,062
150,000
944,062
Movements in funds
Balance brought foNard
Nel ouigoing funds
1,067,840
{273.778)
150,000
1,217,840
{273,7781
Balance carried forward
794,062
150,000
944,062
Total
unrestricted
fund
General Deslgnated
fund
Fund
Fund balances at 31 December 2022
Represented by:
Current assets
Current liabillties
2, 880,158
(1,812,318)
150,000
3,030, 158
(1,812,318)
1,067,840
150,000
1,217,840
Movements In funds
Balance brought forward
Net incoming funds
1,117,260
(49,420)
150, 000
1,267,260
(49, 420)
Balance carrled forward
1,067,840
150,000
1,217,840
The general fund relates to surplus funds from landfill tax credit receipts not yet paid oul as granls.
A designated fund of £150,000 has been sel up by the Trustees to provide for future transitional expenses
in the event that landfill operations cease.
-21-

LANCASHIRE ENVIRONMENTAL FUND LIMITED (BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
12
Reconciliation of net Incomel(expenditure) to net cash flow from operating actlvities
2023
2022
Net incomel(expendilurel for the year
(273,7781
(49,420)
Interest receivable
{Increase)Idecrease in debtors
Increaselldecrease) in creditors
{66,724}
{27,371)
221,203
(24,189))
(73,880)
127,098
(146,6701
39,609
13
Related party transactions
SUEZ Recycllng & Recovery UK Limited ('SUEZ'I is a member of the charitable company with the power to
appoint one trustee lo the board. A J Hughes is a Director of Suez 8nd a trustee of the charitable company.
During the year landfill tax monies payable to the charitable company from SUEZ amounted lo £1,258,513
{2022'. £1,265,423).
Lancashire Wildlife Trust {'Lwf'i is a member of the charitable company with the power to appoint one
trustee to the board. J Drury was a trustee of LWT until Oclober 2019 and remains a trustee of LEF. During
the year provided management, organisational, adminislralive and supervision services to the
charitable company forwhich £63,97512022: £67,283) was charged in the income and expenditure account.
A balance of£179,207 {2022- £167,175) was due to LWT at 31 December 2023. This comprised outstanding
grants of £172,965 (2022.. £154,955) and service charges of £6,242 (2022.. £12,220). Grants totalling
£99,510 (2022.. £135,755) were awarded lo LWT during the year. Grants of £2,617 (2022.. £nil) previously
awarded to LWT have been written back during the year.
Lancashire County Council {'LCC') is a member of the charitable company with the power to appoint one
trustee to the board. S Turner was the Chairman of the charitable company and a member of LCC. A
balance of £nil (2022.. £30,000) was due lo LCC as at 31sl December 2023 (2022: £30,000). Grants totalling
£nil (2022- £30,000) were awarded to LCC during the year. Grants of £285 {2022'. £nill previously awarded
lo LCC have been written back during the year.
It is the company policy that trustees musl inform the board of their interests in grant applications at the
slart of board meetings. The interested trustee will not participate during the consideration of these
applications. In the case of the Chairman having an interest in an application, the chair is taken by the Vice-
Chairman.
-22-