Cl)tnp￿￿ regi%tralic)n num￿[.. a3686719 Lharily iYgi%tTatii?n nur￿￿￿.. 1117()541 The PROSPECTS Foundation IA company limited b} guaran￿e) Annual Report and Financial Statements for Ihe Year Ertded 31 OctoEer 2023 KM Chart¢r¢d .4ccountants 151 fio(Ir. Block L The NN'harf Manche%ier Road Lancasliire BBII IJG The PROSPECTS Foundation Contents Rtterence aJd Administrative l)¢tails Trusttts, Report 2to 11 Indcpcndcnt Examincrfs Rcport 12 Staternent of Financial Actii'itie5 Balance Sheet 14 Notes ts) the Firtancial SiaiemenLS Is￿22 The PROSPECTS Foundation Reference Administrative Detai15 Tru5tee5 Mr P Britcliffc MrNLort Mr R Cunliffe Mr D DalN' Mi. S Hemingway Ms C Holines Mr M Hcipley Mrs C E Montagu¢ Mr P I'Inc¢nt-B&r￿.D0d Mrs M Illorden Mr P Worsi%'ick Secretarv Mrs M W'ord¢n Charit). liegi5trntion Number 1076541 CompAn}' RegLStrgtlo]J Number 03686719 Registered Offiee 54 Rroadi¥a Accrington LaiiLa%hire Independent Examiner KM Chartered Accountanis 1st Fl(?(ii-, Bl(Kk C 'I"h¢ Wharf ManLhesler Road Bumle LdllLa%hire Bartker5 Triodos Bank Brunel House I l The Pr()menad¢ Rri5tol BS8 JNN Pag¢ I The PROSPECTS Foundation Trustees, Report Thc trustccs, who arc dircctors tor thc puryoscs ot. companv law, prcscnt thc annual rcpori ts)gcthcr with Ihe rinancial SL%iernents' ofihe Lhariiable company for the yeaT ended 31 OctobeT 202J. Tru5tee5 Mr l) BritLliffe Mr C Cooper Iresigned 12104120231 Mi. N C'.ort Mr R CunlitTe Mi. D Dal), Mr S Herningway Ms C Holrnes Mr Nq HL)pley (Jpwinled 07103120241 Mrs C E Ifontaguc Ir P Vincent-Tlani'ood Mrs M WoTden Mi. P W￿￿￿1LK OKIECTIVES AND ACTIVITIES OUR C.HARITY'S OIIJF.CTS Public Benefit The Iiustees contirm that i¥e hai'e paid due regai)J to the Lharity Commission guidan¢e on public benefit rcponing in dLYiding what actiiitics thc charit! should undcrtakL. The objects of the Foundation, as set out in our Memorandum ot'Association. are as follo￿..8-. A} I'h¢ Adiian¢¢in¢nt ()f F.ni'ironrn¢ntal Prot¢¢lion or Itnproi'¢inent, inLluding'. al I the conseTvalion of floTa. fauna and th¢ natural enTriTonTn¢nt in H}'ndbum generally. a21 the ¢duLulion ol-lhe publiL around li)cal gTIL)bul SUbVdinabl¢ d¢v¢lopmenl and bi￿live￿il).' and a31 the promotion of recyclino and sustainable ii".aste management. Bl The AdvanLement of Citizenship and Communiiy Dei'elopmeni, including.. bl) IhL promoLion ofvolurtlCLring to improi'c thc skills, qualiLics and lifc prospccis for Tcsidcnts ofH)'ndbum; b21 the pi()rn()ti()ll i)f ci)tntnunit}' LaPaLlty building in PLII'5uJnLe (if enviTI)lltnenlal and.4￿￿1￿1ndb1e develi)pmenl purposes., and b31 the piomolion of urban and rural regeneration in ITyndburn. in Telation to sustainable dei'elopment for currLnt and fulurL gcncraiions. OUR CHARJ'I'YTS AC'I'IVI'fJLs BEI-WbLN N0VE￿Ill￿R 2022 AtYD OC-I'OBER 2023 In or(l¢r tv avhi¢N¢ lh¢ ()bj¢bli￿¢S ¥¢1 (?Llt iiEKiTr¢. lh¥ F(?und&ivn iarri¢d i)ut th¢ fi)11(iii'in¥ prv¥ramrne5 lif wi)rk ii'hilst also spending time looking tor tunding to continue proj¢ct5 btN'ond tht end of the tinancial vear. Pag¢ 2 The PROSPECTS Foundation Trustees, Report . Windf&ll Community Benefit Fund EnergieKontor UK Ltd. has created the 'Windtall Fund. for the 25-Jear life of the wind farm on usTha1dt￿1sl1e Nqooi. in Hvndburn. I'he PRO4PF.C'.'I"S Foundation I'e¢eii'es £105.000 per i'¢ar lind¢x-link¢d from Februar¥ 20101 to tmploy a Community Projects Officer and provide a capital fund to support Troluntter oroups in H)'ndbum in d￿ClOpIng projccts in linc iiith our six Sustainabilit}, Ihcmcs. DLiring Lhe }'ear ¥¥e reLeived inconie ol- £167,79Y lor ihe Windlall FLind. Toial expenditure durin¥ Ihe year atnouiited to Ll 54,884 and consisted ot the graiits paid out plu5 wnning costs of tli¢ Fund. 'l-he tormal ass¢ssrnent ot. appli¢alions ha5 1101¥ Tetuimed to in person ni¢¢lings as all Coronoi'iius restriction shavL bLYn Illic￿. ThL Coronavirus changcs lo thL erilcria ha￿¥ IKx"n rcasscsscd. Thc lour lunding dcadlincs pcr year have been reinstaied but llie arnoui)t ai'ailable for Mini grants has remained at £l,OOIJ. 'I'here w'ere two 'i%IL% Ii) Ihe ii'ind by B[C)￿￿le% Jnd Rainb()i%' gri)up% during 2023. Over the tinancial ! ¢ar a total of 14 giwts were ai¥ard¢d. Thi5 includ¢5 9 mini grants totalling £5:243. Grants totallino £63.L)71 N4.-ere paid to Tli¢ PROSPECTS fouiidation toi¥ards the folloi4-ing project5 Ptel Park Pollinats)rs. Hyndbum Woodlands, Lommunil) TreeA¢iion. Ou￿￿Or Le￿"nIng and the Natural Conneciions (Cir¢en Spaces) progrnrnm¢. nverall. £ll)5,61) Iv35 aivarded in grant5 during the ￿ear. b. Rewilding Hyndburn's Green Spaces This programme staited in OLtob¢r 2016 and was du¢ to tlllish in OLlobei' 2023 but aLtually conLluded in April 2023 iihcn thc Project otticcr l¥ft to takc up anoihcr wsition CISC￿,hcrc. Thc rcmaining tunding ￿a8 transtcrrcd 10 the C'i)tnniunit}' TreeALLii)n pn)jeLI. The of the pr()gramrne to Cre￿te and e￿h￿ce h￿hlIat5 for M'ildlife. prim￿nIV on food groi¥ing %ites avixiss ihe iK)rough, w.hilst ￿}150 pruiidingy natural resuurL¢s tu ¢nLI)ui-agTe ()rgFaniL pfd¢tiveb (In a ran¥¢ i)r community gardcns and allotmcnts. Most ot" thc aciii'ilN' was carricd out on lour main sitcs -411oliiieiit. Woodn()ok C'otntniinity- Cjarden, CT1-()￿l￿￿ Wild and the InLredihle Edihle CTarden in Oiikhill I'ark. Working ii'ith i'olunteers. th¢s¢ sit¢s hav¢ b¢¢n improi'ed and local p¢opl¢ haN'e learned about food growin& habitat enhancemenis. bushcraft. tr¢¢ planting and Much more. Durinrp thc financial N'car incomc of £486 was rcccivcd trorn Onward Homcs. Exwditurc incurrcd totajlcd £8,104. £7,772 IF￿Sferrcd 10 thc Communilv TrLLAciion projcct. Habitats and Heritage ill Hyndburn Thi£ wa% Driginall), a 3-5.ear progrnmtne. M,hi¢h started in Ma), 21119 and planned to run until the end of April 2022. Hoiiw'er, owing to actiNiti¢s being curtailed during the C'.oronai.iru5 pandemic and the Project Officei. leak'ing in MaN 2021. the tunder agretd to an txtension until 30th April 2023. A turthei. extension was %ub%eciuenil)' granted dLle tc) the %eLI)nd l)ri)jeLI ()ffiLei leuiiin¥ al the end i)f April 21123 M'iih yJrne iTrf the wc)rk Incolnpl￿c. The project focu5¢d on woodland5 in HTrndliurn and in particular the long.teriii managein¢nt and consern.ation ot. 8 Lancashire County Council w'oodland sites. Part ot. the project i4".as to map all the iwoodlands in the tKiri)u¥h dnd Larry ()ul Lundiliun suriie)'% i)f dt led%t IOO/o l)f ihe iiix)Lildnd% til give d PiLlure uf Ihe health LTrf Ihe LolleLlii.e i￿00dland habiiat in Hlndburn. A daiabase of informaiion il'as Lreaied i4hiLh has been made publicl￿. availablc thTough a nc}￿ I lyndbum Woodland Thcb51tc. The project offered a range of bolunteering •p￿rtUnitieS in practical conseri'ation techniques, 5uri'eying and mapping work and inLluded a comprchcnsi%'c iraining programmc in woodland managcmcni, Thoodland cratts and identif>ing gkills. li offered Ilie opyjrlunitv for local people. sehools and groups to gei involied and also proi'idcd adi.icc on what to scc in ii"oodland5, whcrc to go for ii'oodland w?Ik5 and actibitics indii".iduals call cnjoy in ihc torough's H".oodlands. Pag¢ J The PROSPECTS Foundation Trustees, Report During thc first part of ihc tinancial Ncar practical actiiitics took placc isith voluntccrs including trcc planting. bird box tnaking, hedge tnanagemenl. Iree Ihinning and paih clettranLe. IIYoodland Londilion suThie)' Imining also held and green Moodi4.orking s¢ssion5 1%'¢re very popular. A ￿(M)dland leaflet and iKM)klet were produced and N'o intcrprctation boards hai'c bccn crcatcd. Moncy Mas L41rriL￿ O￿Ly trom thc prcvious tinancial year and CkpcndilurL during this tinanLial )car tolalled L21.885. d. Outdoor Learning 'e secured tunding tor thi5 tlir¢¢ }"eai' progiwnTne trorn the l..rn¢st Cook -fru5t early in 2020 bul du¢ lo corona￿lrUs thc Ouidoor Lcarning ProjcLI Olliccr didn't siart wilh us until NO￿LIn￿"r 2020. The programmc is aimed at helping people conneet with the outdoors and leam en%ironmenial tnanagemeni Ihrough LILli￿111t% ThY)i-kshi)p%. w'iih a %peLifiL li)Lus 1)n i4ay5 11) tniligale climale Lh￿￿e. Untortunatelv. th¢ Project otlicer letl in December 2021 and due to a number ot'rea50n5 the ￿5t was i'acant tor tii'o years. Ilou'ei'er, following a successful IEcNitment process a new Outdoor Ltarning Officer is due to Start ai Lhe beginning olNovembei' 2023. Cr¢cn Influ¢n¢¢rs 'l-hi% Illltiall) a two vear sclieme, i¥liich sthrt¢d in f¢biuary 2021 and. after a short extensioii, Lame to an end at the end of June 202i. Funded by the Ernest Trust the (ireen Intlu¢nLers SLhem¢ abL)Ut i%'oi'king 'ith }oung wplc. mostlv in thc 10- 14 year agc rangc to cncouraoc thcm to gct inN'olN'cd in Cni'ironmcntsl ()ver the Loiir%e of the pr()ject (iur Cjreen Mentor i¥nrked with nver 65a children frotn 12 %Lhool%. Project% h￿ve inLlud¢d gTruiiing begetabl¢s, tre¢ planling, making bird f¢¢d¢rn frum r¢LvLl¢(I materia15, willi)w w.¢uving, 'r￿a[h making. w)od pyrography. pond dipping. citizcn scicncc ￿ork. tilm making and constructing modcl Incotne during the )eaT for the priijeLt t1)t￿lled 17.591 fr(Itn the Etne.4t C()()k Ttu4t. Expenditure during thi% year talled £12,661. f. Peel Park the Copplce LotAI Nature Reserve ILNRI This projcct ￿a5 tundcd b) Ihc Grccn Rccovcri, Challcngc Fund IGRCFI and 14".as a partncrship projcct wilh ihc Ribble Ri￿er$ Trust. A Projeci Ollicer was app)inied in NoTreimber 2021 and Ihe projeul uniil Ihe end or Nlairh 21123. The 31tllS Df the project iiere tn ¢arn' nut the phy%ical Inanag¢m¢nt of the gra£sland, heathland and 'oodland habitats on the LNR, deliNer 12 health Vialks and develop a trtt nursery at I"inker Brook Nursery ill 'OlUntee￿ worked with the Pn)ject otricer to manage ihe area of Pleck M￿10%¥ la recenily acquired and unmanJg¢J aiY£i Iif¥rass1(InJ in Lh¢ Lenli'¥ iTrfih¢ ndlure r¢5¢rvel b). iai'rvin¥ (iut surl'y uni¥anted tTee groi%Tli Irom the area of heather at the top ot- the Coppic¢', and thinning out some of the ash plantaiions. Income duTing the yeaT Ni'as £25,862 trom the GRCF via the Ribble Ri￿er8 Trust. Expenditure during the vear Ivt411¢J £38,494. Pag¢ 4 The PROSPECTS Foundation Trustees, Report g. Pcel Park Pollillator5 The Peel Park Pollinaior projeLt ts)ok oi'er geamlessly from the Peel Park and the Coppice Local Nature Resern'e project in April 202.1. 'l-h¢ nature of the ￿ork shifted slightl}. to conc¢nlrating iiior¢ on just th¢ gra55land and heathland areas in respect to pN)Ilinators and ivas funded by the Lancashire Wildlife I rust Nia lunding t'rom LanLashirc Eniin)nmcnt Fund ILEFI and Naiional Highwass. Moth. butlLrtl) and bcc surn'cis iicrc Larricd out l inlerwdl% aLr(i%% the %umtner m()nih% £ili)ng %￿lih L)Iher gra4%1￿d LX)n4erv&licin aLtivitie%.SULh %eed LX)IleLting. 5cvihing and S￿1¢$ 11) and r¢￿TdIng all ￿'1th th¢ h¢lp of volunle¢r5. Income for thi5 project totalled £21,700 from the Lancashire Wildlife Trust and txpenditure i¥as £22.002. h. NAtural Wc sccurcd tunding tor this project in August 2021 through thc Grccn Rccovcrv Challcngc Fund IGRCFI. The pr()jeLI ran until the end ()f June 21127 and iiivi)li'ed the reLruitmenl lif J Iireeii %paLe% OIIiLer ti%'ii Iidinee% ii'ho worked on 51tes all acros5 H! ndburn carrying out con5ern'ation managtment tasks. A main part ot. the Qrreen Spa¥¢s Oflic¢i' rolt ￿'aS to menloi. the li?iiiees ii.-ith a to thtin moNing iiito other environinental jobs aflei the projeii ended. O%'er the LC)ur%e uf Ihe p￿)]eLl the leatn i%urkeLi i)n 25 dirferenl %ile%, i)Nei 800 pe(Iple jÉ)ined in M iih Ihvir acliNitl¢S Tanging froni, drv qtone IN￿lI1￿s. f(Iraging, rneJd()w management, building rais¢d heds Jnd ￿￿kIng terrariurns. Th¢w put on a series ot. traditional craft w'orkshops, engaged ivith more than 400 school children. i'orked il'iih over 30 Voluntee￿ and recruited a 'green team, of 7 core volunteers. We developed a cotni)r¢heiisiv¢ traiiiing programni¢ for th¢ train¢¢s to deNelop their skills ready fi)r a future careeT in counii)'sidelenNironrnental managernent. At the tnd of the project one of the trainees Steured a pe￿anent role with the Forestry Commission as a Ranger at Gisburn Foresi and the other trainee secured a Ihree year position at Prospects. Incotn¢ of £40,702 re¢eiN'¢d fioin the GRCF via thv Nationiil Lvtt¢iy H¢ritag¢ Fund and the ¢xp¢nditure during the year totalled £79,429. . Commullity TreeAction Wc sccurcd thc funding lor this projcct from Hyndburn Borough Council's Climatc Erncrgcnci, budgct. This is a three Vear prLTrjeLt ￿'hiLh started in Jul!, 2023 ￿'1th the aim LTrt' planting at least 15,000 tre¥5 Iwniribuiing luivards the tree lor ever). resideni iargetl by Ihe end of June 20?6. Most ol. the Irees M'ill be planted on HNndbuTn Borough Council land. Income ot. £5,496 ￿a5 received trom Tr¢¢5 tor Citie5 and supervision tee. Ex￿ndItUre tor the yeaT totalled £17.473. j. Hyndburn Woodlands 'llii% projeLi fullviis i)n fr()m the Habilat5' aiid Heritage pri)jeLt bul h￿5 ￿ etnpha%is un Il'hinney Hill WULNlland. ther Lanc&shire Couiily Council iTriii1dl￿nd￿ air Jlso rnJnug¢d thr()ugh Ili]4 prDj¢¢l plus nihei. wn(?dlllnd related M'ork acro%% H>ndhurn. This pmject.%taned In .lul1, 2023 and ii.ill run for three vea￿. Wt hai'e %ccurcd tunding for this work from Lancashire County Council and Hyndbum Borough Council (Section 106 monies). Income receii'ed in Ihe financial s'eal. iotalled £44.000 and Ihe expenditure li'￿ £7,683. Pag¢ i The PROSPECTS Foundation Trustees, Report k Eco Fe5t 2023 We held our second very successtul Eco Fest 2023 in the Town Square in Accrington in August 202J. Tt enabled U5 to pl￿mOt¢ PIICISPF.C"I'S to a wid¢ auditnc¢ and on the dai ive Inad¢ oi'er l bug hotels and gav¢ ai¥av more than 150 good￿ bags. Hundreds ot. people i'isited our stall and manN' thquired atKiut volunteering with us pcopIL and SIgnL￿ up io our mailing list. WL hosicd ovcr 20 stalls trom oihcr eniironmcntal organisations and Lharities pr()In()ted all thing% eLI) I'lki thlk%, deiii(?n%tratiiin5, pei'fiirm￿Le1 and hand￿[)￿ aLtivitie%. 11 Such a succ¢sS that w¢ air already planning l..co l.est 211241 We received funding for the ei'ent from Hvndburn Borough Council. £6,000 onii.ard Homes, £l.OW Ernest Cook Trust £5.ON and the Ninei'ah Chariiable TrusL £1.500. The total ex￿ndItUre on the testii'al was £13.500. l. Woody (Hyndburnl CIC l)uring ihe >'eai' the l?]iis￿*￿' ci)ntiiiued li) priivide %uptN)rt li) WIM)d) (Hyndhuiiil e.i(". Iregi%leiYd Lhai-il number 07g840871. one ot. oui. linked social ¢nt¢lVl'ls¢s. This con51Sted mainl), ot administration 5UPPOrt tor ii'hiLh in¥oine ot- £1.697.13 was irctived fiDni Woodv. W'ood%, IllTrndbuixl CIC M'as set up by The PROSPELTS Foundaiion eleven yeaiE ago and is legally and finanLiall)' a separaie organisalion. li is c()nipl¢tels- volunle¢i' led and tnost of it'5 in¢om¢ 15 generated frotn woi)dland rnanagein¢nt contract w'ork and 'oo(trtiinber sales. The asset lock for Wi)ody 11 Ivndburnl C'.IC is The PROSPF.CTS Foundation: M.hicli means that assets. (including an). profits) Inust be retained ￿'1th1n the CIC to be used lor the Loinmunity purposes tor .hich il (urmed, i)r ekn be ir&nsferred and used 10 benefil ihe WLTrrk of I>IIO%I)EC"I S. Prospects Community Energy e also prol'ided some small support foT Pr05P¢Cts C.omMunity' F.nergv T.td IPC".F.l. a communit), benefit societ},. set up to take tOr￿ard the teasibilitTr studN and future development ot. a solar meadoii. at our sik at CoaLh Road in Osiialdtwisile. PCE, funded bi, the Rliral Communiil Energy Fund IRCEFI. has been woi'king 'iih 8harener&￿ lia% reLentl)' Jpplied i() H}'ndburn Bi)r()ugh L()UllLiI f()r planning permi%%i()n f()r Ilie photovoltaic arra!,. . Tillker Brook Tree Nursery The Tinker Brook site has been leased by Ihe charity fiDm H)'ndbum Borough Council since 1998. In 2007 ihe Lharity entered inl() a nei%. leJ%e ii'ith the C()unLiI flir the %ite that ivill ttipire in Au¥u%t 2031. The .site 1% curr¢ntlv used on a dav to da) basi% to la¢ililate liortlLultural training and dav care 5ervi¢¢5 foi. p￿pIe iiith learning difticulties. This service is provided b), Tinke1' Brook Support Sen'ices CIC. registered company numbcr 118397i3. As pan of our CTfLYn Rccovcry Ch1i Ilcngc fundcd projcct on PLCI Park and ihc Coppicc. Ivc e%iabli%hed a Iree nursery ai Tinker Br()()k. i%'iili Ihe 4erviLe user%? planling 1,500 Irees from %eed. Tliis is now being conlinueJ b). Ihe Comrnunil) -l-r¢eALiiun anJ Ouidoor I.￿rI7]I￿g pwjectS. o. Coach RoAd Meadows The land at Coach Road Meadoii." was purchased bj Prospects in March 2005. During the I￿r }'ear Prospects Cuinmunilj EnLigv Lid ha% bLL'n liiking Ii)i-ward plans tci dLILI()p a solar ineadow on thL' siie ISLL. aE¥iwel. Ir pl￿ning ￿r[nIS￿l(￿n fi)r the ph(It()ii(?IthiL is granted, PRI)%PEL'I % ivill h￿Tr.e tsi fi)rmallk lea%e the site lo PCE or othtr deNelopMent organisation. thus securing a small annual income. Charlty Development work continual and ttcccs￿r￿ part of our Thork in￿O1veS scLuring cxtcrn81 tunding in ordcr to Lontinuc our charil 'ork. DuTing the )'trar i¥e ivere successful Kviih neTh funding applicaiions 10 LanLashire County C'ouiiLil. Onii?rd Homc5. Ernc5t Cook Trust, Windfall. HNndburn Borough Council. Trcc5 for Litics, Ninci'ah Charithblc Trust, Lancashirc Mlildlitc Tnjst: Thc National LottcTr' Climatc Action Fund, Elcctricit), North 11 cst and Natural Englttnd. Pag¢ 6 The PROSPECTS Foundation Trustees, Report Othcr Chariiv Dcvclopmcnt work has includcd organising and tacilitaiing Managcmcni Committcc and Finance Group tneelings. The AGM held ai B￿xenden Golf Club i%here i%t looked dt Ilie reLenl Tenewable energ> measures in51alled with the help of a Windlall grant. The work has a150 included liaising ii.ith our Treasurer and sthft'to monitor projcci budgcts and tundcr monitoring rcquircmcnts and thc linc managcmcnt ofstatT. The proccss of changing the fomial structurc of Thc PROSPECTS Foundation Irom a registL"rcd Lharili and L()tnpanv litnited by gli￿antee l(1 J ch￿]￿ble InL()rtMirllted ()rg￿l￿all1)n ICI()l 1% %lill i)n hL)Id. l-he advant￿ge% hol¥¢￿'tr ot- the nei¥ 51wctur¢ i￿ould include the tact that a(￿Un[S i¥ill onlN hai'¢ to be fil¢d iiith the Chai'itv c.ommission and not 14'ith Coinpanie5 Houst as ii.-ell., there ivill be no dual regulation; Trustees ￿11] still benetit Irom limiicd liabilitv; and ihc StrueLufc Is SPLcilicalli dcsignLd lor charilics. During the year the Chariiy Man&ger rosi was funded by m&nagemenL (ees. Exrendiiure during ihe year i%•s £30.405. The chai'itv has gone fiDm strength to strength in the last couple of years and during the rnajority ot the 202212023 Near ive had 8 statl., Ihe most in the charity s history. q. The PROSPECTS Pantls The PRO8PECT% Pane15 are ￿ep￿die enlilies and iheii finanLe% du ni)t Iherefciie %hi)Iv in i)ur aLLtiunl￿. Thev are an irntM)rtaiit part (It th¢ PRI)%PEC'I"% m()I'¢m￿t. and d¢lii"¢r a range of iolunteeT p￿ljeCtS in their neighbourhoods that are irnrKirtant to local people. Their is a rtlationship ot. mutualit), beli4.een the Foundation and ihe Panels. The Foundation provides Lentralised services 10 support the work of the Panels. and the Panels fi-¢qu¢iitlv provide vDluiilc¢r .%killed labour lo I￿1)r￿ oli pr()j¢LtS ()ther than tlieir Paiiel8 select a reprtsentative to seTve on the Foundaiion s management Committee. foul. ot Ihe eight Panels are curirntlv active.. Baxenden Communit}, Forurn. ClaNton-le-mI￿Trrs i¥ith Altham Prospects Panel. Huncoat Communit> Forum and Rishts)n ProspeLts Panel. During Ihe y￿r Prospecis siaff supported the panels M'iih a number of pr()jeLI%. r. Volullteer contributions to the PROSPECTS Foundation The trustees are ¢xtremtlN grateful for the contribution that our i'olunt¢¢rs make in terms of giving their o￿n aluable lime. support. &d￿lee and help and we tiill) recognise thai this suppoit is viial in enabling ihe Fc)unddti()ii tl) aLhieve il% ()bjeLlive%. It 1% thi% en()nn()u% ￿1}]Unteer eff()rt IN'hiLh en%ure% that the ivi)rk aLhiei ed PRI)%PF.C'T% is tar. far greater than that represented bv the fonnal 3¢COUllts. It is the backbone of eTrer)'thing 'e do. FINANCIAL REVIE The aiiached siaiernenis shoiy the CLirrerti Sla￿ of ihe finances. Tntal in¢(irnin8 irsnurces i￿￿¢35ed fii?m L36i.7i¥ to £3¥6.9ii an inrr¢&s¢ of L21:235 from th¢ pirviou5 >ear. The total resources expended increased from £295.025 to £350:730 an increase of £55,705 frorn ihe preNious ear. The ntt incoming resources tor the Vear i4.-ere £36.178. ResiriLled inL()tne f()r %PeLifiL aLlI￿ltIe$ li)tslled £)59.C)28. anLI toliil re411iLled expEndiliire wds £332.i99. The O￿tralI balance ort reslriLied funds £318.i08 ai the 31 si Ol'iober 2023. 'l-he 517£ of the balance 15 due to gTants paid in adTrance of ¢xp¢nditUT¢ being incurrtd. -l-he balance ￿.111 be carried forward and spent on specitic schemes. Ini'e5tmeut policy objectii'e5 The Foundation had an iniesiinent in the One Planet Shop. hO￿ever, the shop i%*s closed domm and the inv¢5lment of£25 ha5 b¢¢ii ivrill¢n off. Pag¢ 7 The PROSPECTS Foundation Trustees, Report Policy OD re5ervc5 l-he I ru%tee% have adi)pled a tM)IiLy regarding re*Th'e% ivhiLh en%ure% li'e Jhle tc) meet Jll L)ur Lurrent and futuir liabilities and is reNiewed annuallv and approi'td by the Managernent C'.oillmiitee. As we are 50 d¢i)¢ndent on grants li is considered that the leNel of reseThes needs to be adcquate to maintain core activitie5 and that the cquivalLmt of ihrcc months of iotal LXPLnditurL is appropriaiL (Ecing approximatclv £87.!001. During ihL vcar Ihe unre%lriLled re%eri'e% inLrea%ed f￿)￿ £1 ?5,756 11) £lJ4.9O5. I'he R￿tri.e5 inLlude £15,000 Lied up iii fixed assets. Hence, the fire reserves arnount to £119.905. PLANS FOR FUTURE PERIODS The key tasks that have been identified for the forthcoming vear are as tollows.. StrAtegic ReTrieiv Jnd set Aim% and l)hjeitiTres Jnnuall> len%urin¥ 'l.'i)tnniunit) feature% muLh 'Eni'ironMent'" and that all oui. thernts are ivell I'epresentedl Ensure wide uonsuliation with the broadei. luLal Lommunil). to help influence Lurrenl I'uture progrnmmes. projects and activities Keep under rewiei+ the rndke-up vf Ihe Manage[n￿l Ci)tnmillee in ler[n￿ 1)r Li)tntnunil} iepresenlalii)n and r¢l¢vant skills Rt£onsidei' the convtrsion ofour siatus from a Charilv inio a C.haritsble Incorpoi?ted Organi5alion ICIOI Ensurc climatc changc is at thc cor¢ ot-our dccisions and activitics Maintsin dei'el'cles and walking W*stt and Reeyellng- id¢ntitN'ing morc ways ot"rcducing.- rcusing and rccvcling our ￿aSte Local Food- enLouraging morc loLal. organiL, hcalth), lood, grown by thL Lommunii> lor ihL communiti. Environmcntal Awarrn¢55- rajsirtg awaitnes8 oIoLir work and oleni'ironmenial issues in general STRUCTURE, GOVERN.4NCE AND ￿lANAGEMENT Appointment election of Trustees A% per our ArliLle% ()f A%%ociati()n. the C()Inrniltee shall L()n4i%l ()l-: lal onc rLprcsCntatii'￿ from Cach of thc Approvcd PROSPECTS Pancls, an Approvcd PROSPECTS Pancl bcing a PROSPECTS Piinel thai hils Eeen appro￿e0 bi. the Managemeni Committee Ibl i)ne repre%enlatii'e ()f Hvndburn B()ri)ugh C()unLiI Icl one repre%entatii'e of Lanc&%hir¢ Counn. C.nuncil Idl up to six merntrtrs ot the PROSPEC"TS Foundation, elected at the AGM ILI up to Slx LO￿p[lon$ appoiniLd bj ihc fvfanagctnLni Commiticc in aLLordancc i%'ith ClausL 42. Pag¢ 9 The PROSPECTS Foundation Trustees, Report Inductioll trainiJLg of Tru5tccs The Managernent Comrnittee is re5EK)n5ible for the governance and overall strategic direction of the Foundation. Thcrctorc: trusiccs nccd to bc ai4-.arc and capable ot. mccung thosc rcsponsibilitits for thc bcnctii ot'all inNolicd 4.iih thL Foundaiion and aSSOLidlLd groups and organisaiions. The rtSFM)nsibilit} of LllSUTing IhaL IruslCCS afL ¥iven ￿ app￿}Pri￿te induLlic)n lie4 with the Lurreiit Chairper%()n. ()llLe ITU4tee% ￿re appi)inted, Ihev Tru5tte5 Induction Pack iwhich includ¢s Information on. BaLLg￿)llnd infi)rtniilicin abi)ul The PRO8PECT8 F()undulic?n Rol¢s & Rtt*tK)nsibilit1¢5 vf Tru5t¢¢s Organi￿riOnal C'.harr Chai'it) Commission Icallct'RcsrN)nsibilities ofcharily Trusi¢cs'. AppropTiate ti?ining is ari'anged for'l-ru51ees, following consultation on their training needs. Organisgtional Structur¢ In gcncral. thc trustCC5 havc oi'crall rc5pon5ibility' foi. thc gol'cinancc and 5tratcgic dircction of thc Foundation. Thc digTr-io-da! opcraiionigl busincss ot'thc Foundation is dclL8atcd to the Chariii. DLI'clopmcni Managcr. R¢l8tionships )Trith r¢lat¢d parties The PROSPECTS Pane15 EaLh ol'the PROSPECTS Paiiels has one representhtive appoinied to the PROSPECTS Foundation Mai)a¥emertl C'.ommitt¢e. Risk mathagtment The trust¢¢s haTr¢ a55¢55ed the major risks to which th¢ charity is txpostd. in particular those related to the operation and tinance of the charit>. and are satisfied that systerns are in place to mitigatt their exposure to major risks. l-he Charity. has the following insurance cov¢r in place.. Emplo)'er% Liability. £10 million Products LiabilitN', £5 million Trusicc Liabilit}. £ 1.000,000 Personal Accideni Cover for Siart, Trusiees & Volunteers £lO.000 . Property l)arnage Conlellts Coi'er Lcgal Bxpcrtscs £2iO.000 Pag¢ 10 The PROSPECTS Foundation Trustees, Report Small conipanie5 provisioii statement Thi% rew)rl ha% heen prepared in aLL()i'danLe with the %inall L()Inpanie% regitne undei. the Ci)rnPllnie￿ Act 2006. The annuiil repori was approved b), Ihe IrLlStees ofthe chÉ2ril> on 27 MarLh 2024 and signed on its behL2lf b),: Vinccnt-Bani'ood TTusiee Pag¢ 11 The PROSPECTS Foundation IDdepeDdent Examiner's Report to tbe trustees of The PROSPECTS Foundation ('the Company,) I rewrt to the charity trustees on my examination ot'the accounts ot'the Company tor the year ended 31 October Responsibilities and basis of report As the charitN' 5 trustees of the c.ompany land also its directors tor the purwses of company lam,) vou are responsible tor the preparation ot'the accounts in accordance Thith the requirements ot. the Coinpanies Act 2006 I'the 20U6 ALI-I. Having satistied m!'5elt' that the accounts of the Compan}, are not required to be audited under Part 16 ot. the ?006.4LI eli¥ible f()r independenl exatnindtii)n, I repi)rt in re%peLt <)f tnv exatnindti()n i)f }()ur Lhdrit}' examination I haTre tollowed the T)irection5 giTren by the Charit) Commission under section 14515iibl ot. the 2011 Act. Indepelldent examiner's Statement Since the Compan} s gross income exceeded £2iO,000 Nour examiner Inust be a meinber ot a trf)dN listed in geLtion 145 of the 2011 ALI. l L￿nFiM7 thai l am 4iialified to undertake ihe examination beLause l mernber of th¢ Association of Charit>. Inde￿nd￿t F.xarnin¢rs, ￿h]ch is on¢ of th¢ list¢d bodies. I hai e compltted MN examination. I confirm that no matters hai'e come to my attention in connection ivith the examination giwing me caiise io beliei'e.. aLCÉ)unling reLUTds were not kept in respeLI uf I'he VK()%IJEL-I % buundation ds required by seLIii)ll )8fy of the 2(IU6 Act: or 2. the accounts do not accord ￿'1th those records. or 3. thc acLounts do not complli M ith Ihc aceounting rcquii'cmcnts of SCLtion 396 of thL 2006 Aci oihcr Ihan any requiretneiil thai the dLLuuiILS give a 'itue fdir viu*' whiLh ig nol J tnalter considered a5 pth of dii independeiil eKarninali(In,- nT 4. the accounts have not been prepared in accordance ￿1th the methods and prillciples ot. the Ststement of RLLoinmcndcd Pft)LtILL lor aLLouniing and rewriing by charitlLS lapplieablc 10 charilics preparing IhLir LLI)unl% in JLLurdllnLe with the Tr'inanLiJI Ilepi)rtin¥ %tandJrd JppliLable in the IIK and IlepubliL of Ireland IF'IIS 10211. have no conLeims have corne aLross no oiher mailers in connection wilh the examination io ivhiLh ￿E￿il0n should be dra￿Tr in thi5 retXJTt in order to ¢nabl¢ a PToper und¢￿tandIng of the account5 to ￿ reached. Mai'k I leaton fccA FCIE DChA KM I￿t Flcmir. Blc)ck C The WhaTf Manchcstcr Road Biirnlcv L￿L&shIre BBII IJG 27 m￿rch 2024 Pag¢ 12 Try In u wo The PROSPECTS Foundation (Registration number: 03686719) BAIADce Sheet 115 at 31 October 2023 2023 2022 Nott Fixed issets Tangiblc asscis Currtnt assets Inlesthients Cash ai bank and in hand 25 418,186 456,281 456.281 418,211 Creditors.. Amounts falling due within one year 13 117,8681 115.9761 Net current assets 438.413 402.2.35 Net issets 45J,41J 417,2J) Fund5 of the thority.. RestriL'ted income funds RcsiriciLd funds 318.508 291,479 Llnrestricted income funds Ilnre4liiLled funds 1)4,905 12i,756 Total fvMd5 15 453.413 417.235 For the linancial year ending 31 October 4023 the charili. was enliile4J io exetnplion Irom audil under se£tion 477 of thc Companics ALt 2006 rclating to small companics. DircLtors' rcsponsibiliiics.. The rnenibeT5 liave not Tequired the ¢haTity to obtain an audit of its accounts for the year in question in accordancc with SCLtion 476: and The directors acknoM'led8e their responsibilities for compl>in8 wilh the requirements of the Ath with respe to 4c¢ounting records (ind th¢ prep. in thc dclivcry ot. its activitics and scrn'ices tor 11% hcncliciarics. li includL% both cost% thai can bc allocatcd dircLily t() such aciii'itio% and tho%c cost% ot. an indir¢cl nature necessary lo siippvrt Ihetn. Pag¢ li The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 Grxnt provlslons Provision5 for grants arc madc ii'hcn thc intcntion to makc a grant has bccn communicatcd to thc rccipicnt but thcrc is unccrtaintv atout cithcr thc timing ot'thc srani or thc amount of grani payablc. Governance ¢osts I he8e inLlude the LL)%1s altrihutrdble tl) the Lharit) 8 L()rnpli3llLe with Ll)n%tituti()nal Jnd %tatut(iry requiretnenLs, including independant examination. strategic management and trust¢¢s s meetings and reimbursed expenses. Taxation 'l-he Lharily is L(iii%idered It) Lhe te%i% seL l)Ut in PJragrJph l 8Lhedule 6 (If the FinJnLe ALI 2QI Q artd therefore it meets the detinition ot. a charitable company tor IIK corporation tax purposes. Accordinglv. the Charit￿ IS WlLntIall￿ eALrnpi Irom ia.xation in rcspcct of inLomi or capital gains rcLLivcd w'ithin calcgorics coiered b!, Chapter 3 1)art I l of the Corroration 'l'ax Act 2010 or Section 2iO of the 'l'axation ol Chargeable CTains ALt 1992, to ￿le extent that ￿uLh inLoiiie or gaiii% are applied exclu%ii'el)' In Lliaritable purtK)%e%. Tangible fixed asset5 F)cpreciation is prowidcd at thc folloi4'ing ratcs in ordcr to writc off each assct 0￿¥r its cstimatcd uscful lifc. FTeehold land not proiiided Tr#de debtOTS Tradc dcbtors arc amounts duc from customcrs for s¢Th'iccs rKYform¢d in th¢ ordinary cours¢ of busincss. .1 rad¢ debtors are r¢cognisd initially at the tTan5ac¢ion pric¢. I'h¢y ar¢ subsequentl) tn¢a$u￿d al amort15¢d ￿5t Using the elTeclive inkresl nieihod, I￿9 proi'ision lor impairinenl. A provision for the impaimieni ol- trade dcbtors is CSLqblish¢d w'hcn th¢rc is objcctii'c cvidcncc that th¢ charity ￿.111 noi bc ablc io collcci all amounts duc according to th¢ original t¢nn5 of th¢ r¢c¢iNables. Fund struoture Ilnre.4lriwted illcome fund% are geneTal fund.4 that are available tOT u%e at the trustee% di%cretion in turtherallce of Ihe objeciives ol'ihe eharilN. R¢tstl'lLled incotn¢ fuiids those donJt¢d f(ii' u&¢ in J particulw. Jr¢a or for 5p¢¢ific purtKTr5es. the ws¢ i)f ￿'hiCh is re5trict¢d to that area or pur￿5¢. Pensions gnd other p05t retirement obligations The Lharil) (Iperdle% a defined L()nli-ibulicin pension sLheme whiLh is a pensiiTrn plan undeT i%'hiLh fixed c()nlributi()ns &re paid inti) J pen8ion tund and th¢ Lhai'it>' ha% no legal or cDn%tru¢tii'¢ ()bligatiDn t(1 p￿V furth¢T contributions cvcn it thc lund docs not hold sutf1ci¢nt a55cts to pay all cmplovccs thc bcncfits rclating lo employee serniLe in ihe Lurreni and prior periods. duc. It"contribution paymcnts cxcccd thc contribution duc tor s¥rvicc, thc cxccss is rccogniscd as a prcpa}'mcnt. Pag¢ 16 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 3 Income from donatlons and legache5 Unrestricted runds eneral Total 2023 Re¥ulJr giving Lapitsl d()naliuns 397 197 397 4 Income from eharitable actiwi¢ie5 Total 2023 Total 2022 Restrirted Tink¢r Brook S.S CIC Grants 6.375 336.816 i,7iO 316,025 336.816 343.191 321.775 CJrdnl% i-eceiN-ed, inLluded in the a￿)1,￿. dre r()11()w%-. .nergi¢konloi' l.ocal Authority Grant5 H¢ritag¢ Lott¢i}' Fuiid Dovl%' Carte Charitable Trust Lancashire NN'ildlite Trust Onw'ard Homes Emcsi Cook Charithblc TrusL Other gi-ants Natural England Ribblt RivLts TrusL .4muld Clark 167.799 60,000 40,702 167.799 60.000 40.702 148,806 28.860 38,040 3,500 21.7flfl 1,486 12,591 200 1,486 12.591 200 600 33.318 933 5.000 52.458 7iO 3,760 25,862 25.862 The A%liden Tru£t Nin•'¢h'l ru51 Trees for Lities 1,500 4.976 1.500 4.976 36.¥16 3i6.¥16 316.025 5 Otber illeome Unrestrleted Total 2023 Total 2022 Ge￿eral Re5tri¢te Fees and Lharges Other 14,187 14.187 ?2.684 20,131 22.201 22.684 22.684 14,187 36.871 Pag¢ 17 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 6 Expenditure on tharltable attlvitles Ullre5trictcd Total 2023 Total General Re$¢ri¢te 2021 CTrJnt% Staff wsts Charitable activity Allocatcd 5UPtort costs GoTrcrnancc costs 41.642 170,775 78,895 41,642 176,912 80.096 49.980 2.100 29,163 l i9,446 i6,963 47.403 2,050 6,137 1,201 10.268 525 1.575 332.599 3511.730 ?()5,025 The Ii)ial byanls ￿ld Iu illslitutiuns during the f()Ilcii*%- CTeneral Ciranls lunder £50001 Haxtnd¢n Conitnunity F'on]m HOM¢￿'1st Soci¢t}' Fritnds of Rhydding5 Park C'.10 St.Paul's Parochial Church Council The Dog Inn (Belthoml Ltd 9,642 15,000 9.642 15.000 14,163 7,500 7,500 7,00 10.000 7,(J)a 10.000 41.642 41.642 2().163 7 An#ly5is of govern#nee #Dd support t05ts Governance costs Uure5trictcd funds Gemeral Re5*ricted funds -I'otal 2023 2022 All()cated %uptN)rt L(ISt% 525 1.575 2.05 525 1,575 2. laa 2.(liO 8 Trustees remuneration and expellses No tru5te¢s, nor any p¢rson5 conn¢cted w'ith them, hai.¢ rec¢iv¢d an) remuncraiion trom th¢ charity during the year. No trustees have recei￿ed an). reimbursed expenses from the charits, during the vear. Pag¢ 18 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 9 Stsff costs 'I'he a88re8aie payroll L4)Sts were as follows.. 2023 2022 Staff cost5 during the year were.. Wages and salari 8LTrLial seLurity LogLS' 157.625 14.275 5.012 142.6Y¥ 176,912 l i9,446 'I"he monthly ai'¢rag¢ numb¢r of p¢rsons (including senior manag¢in¢nt I l¢ade￿h1P t¢aml ¢mplov¢d b}. th¢ Lliarii) during the ),￿T eNpr¢s8¢J full tini¢ equii.alenLs i4-a5 JS ti)11(1ii'.4'. 2023 2022 Charitablc activitics Nu ￿Mpl(l￿ee reLeiveLi etni)lutnenls uf tnore thdn £60,0011 durinby ihe vear. 10 TaxatioD The charity is a rtgis*red charityi and is theretort exempt from taxation. Pag¢ 19 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 I l Tanglble fixed A55ets Freehold land Total Cost At l Nol'ember 2022 15,000 15,000 At 31 October 2023 15,000 15,000 Depreciation At 31 OLLober 202) Carrying At ) l October 2023 15,11)0 15,000 At il Octob¢r 2022 15.000 li.000 2 Current asset illi'e5tments 2023 2022 Othcr ini'cstmcnis 25 13 Creditors: amounts falling due within one year 2023 2022 Accruals 17.868 l i,976 14 Leasing ¥gr¢ements I"he total i'alu¢ of luture rniiiimum lease payrnent5 i*a5 as folloii3'. 2023 2022 Within one ye&r In two to fiNe Nears 7.500 7.iOO 40.625 4a.625 48.125 Pag¢ 20 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 IS Funds Balauce at Balance at Ji October 202J Other recogiiised Transfer5 g*in51{105ses) ovember Resources expendtd 2022 resourtes Unrestrieted General Fund 125,756 12)) 134.90) Restrieted Othcr Projccts Windfall Charil> ￿tartage1 Re￿.ilding Habiiais & Heriiage Ouidi)i)i Leaniing ProjeLi Natul'dl LcinneLti()n Ranger PIDgramme Grccn Mcntor i5,1173 94.648 9,435 15.390 23,248 23,064 30,075 170,049 13.667 486 120,2231 190.9131 111.2921 18.1041 121,8851 14401 64.925 109,813 163.9711 19.8101 17.7721 1,363 21.81) 37,727 12,422 13.436 7.D36 40,702 7,591 25.862 5.496 44.000 21,700 {79,4291 112,6611 138.4941 117.4731 17.6831 122,0021 1.00 17.3)21 18041 LNR Coppice Project Communiiy Tree Aciion Hyndburn Woodlands Peel Pdrk Pullinaturs 31.931 46.317 19,720 10.000 20.022 291,479 3)9.628 lJJ2.i991 318,i08 Total funds 417.235 386.933 1350.7301 4)3.413 Pag¢21 The PROSPECTS Foundation Notes to the FiDaDcial Statements for the Year Ended 31 October 2023 Balance at I Novernber Bal&nce at 31 October Resources expe￿￿ed 2021 re5011rees Transfers 2022 Ullrestri¢ted CienerJl bund 104,009 23,)51 11,8041 12i.756 Restrieted Other Projects Winijfall Charli! Managcr Re￿.lIding Habitats & Herithge Ouidoor Leaming Project Tree l)laniing OfficeT Naiural ConneLtitsn% l<>nger Prograrnme Grccn Mcntor LNR Coppicc Projcct 35,656 61,291 6,749 13.769 37,583 149,107 17,249 19,822 -)8,(14U ¥,419 118,1661 {83.4591 114.i631 55,073 94,648 9,435 15.-390 132,?911 130.6421 18.773 7.036 23.064 7,036 80,854 9.794 168,JOII 121.6011 25.174 37.727 12.422 13,436 24,229 242.493 342,207 1293.2211 291,479 Total funds 346.i02 365.758 1295.0251 417.235 16 An*lysls of net assets between funds Unr¢strict¢d 2023 General 2023 Total funds Restrieted '1 angiblc fixed assets Curreiil assets 15,000 137,773 117.8681 l i,000 4i6,281 117.8681 318,508 Total net a55ets 134.905 318,i08 4)3,413 Unresirieted 2022 2022 Total fulld$ General Restricted .1 angible fixed assets Currenl ￿se1* 15.000 1?6.732 I li.9761 15.000 291.479 I li,9761 Tnlal net 125,7)6 291.479 417,23) 17 Related party tran5actiolls TheT¢ were no r¢lat¢d part), transactions in the year. Pag¢ 22