Company r¢8iStration numb¢r: 03686719
Charity registration numlrr.. 1076541
The PROSPECTS Foundation
(A company limited by suarante¢)
Arniual Report and Financial Statcmentg
for the Year Ended 31 October 2024
SPECTS
HYNDBURN'S COMMUNITY-OWNED
ENVIRONMENTAL CHARITY
Charte￿d Accountsnts
1st Floor, Block C.
The Wharf
Manchester Road
Burnley
Lancashire
BBII IJG

The PROSPECTS Foundation
Contents
R¢fcrence and Athninistrative Detsils
Tn￿le¢s, R¢port
2tolO
Independent Examiner's Report
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Fitianciai Statements
14to22

The PROSPECTS Foundation
Reference and Admlntstrative Details
Trustees
Mr P Britcliffe
Mr S Button
MTNCort
Mr R Cunliffe
Mr D Dal)"
Mr S Hemingway
Ms C Holme8
Mr M Hopl¢y
Mr J Scal¢s
Mr P Vin¢¢nt-Barwood
Mrs M WoTden
Mr P Worswick
Setretsry
Mrs M Worden
Charlty Registradon Number
1076541
CompaDy Reglstration Number
03686719
Regi$tered Office
54 Broadway
Accrington
Lancashire
BB5 IEW
Independent ExAminer
Chartered Ac¢ountgDts
1st Floor, Block C
The Wlwf
Manchester Road
Burnley
Lancasbire
BBII IJG
SolEtitor$:
Wood¢￿￿ Haworth & Nuttall
IA Strawberry Bank
Preston New Road
Blackburll
Lancashire
BB2 6AA
Bankt
Triodos Bank
Brunel House
I l The Promenade
Bristol
BS8 3NN
Page I

The PROSPECTS Foundation
Trustees, Report
The trustees. who are directors for the Purposes of company law. Present the annual report together with th¢
financial statements of the ¢lwitabl¢ company for th¢ year ¢Dd¢d 31 October 2024.
Trustees
Mr P Britcliffe
Mr S Button (appointed 3110712024)
MrNCort
Mr R Cunliffe
Mr D Daly
Mr S Hemingway
Ms C Holme5
Mr M Hoplcy (appointed 0710312024)
Mrs C E Monts8ue (resigned 0310512024)
Mr J sc￿e8 (appointed 3110712024)
Mr P Vincent-Barwood
Mrs M Worden
r P Worswick
STRUCTURE, GOVERNANCE AND MANAGEMENT
AppointJnent and election of Trustee
As per our Articles of Association, the Committee sball consist of..
(a) one representative5 from each of the Approved PROSPECTS Panels. an Approved PROSPECTS Panel being
a PROSPECTS Panel that bas been approved by the Management Committee
(b) otte representative of Hyndburn Borough Council
(c) one repreS¢Thtati￿ of Lancushire County Council
(d) up to six members of th¢ PROSPECTS Foundation. elected at the AGM
{e) up ts> six co-options appointed by the MAnagement Committee in accordance with Clause 42.
Inductlon and tralnlng of Trusteei
The M4nagement Cotiwrtitttt is resp)nsible for the goven)ance and overall strategic direction of the Foundation.
Therefore. t￿StreS need to be aware and capable of m￿tillg tho8¢ r¢spoDsibiJiiies for the benefit of all involved
with the Foundation and associated groups and organisations. The responsibility of ensuring that trvste¢s are
given an appropriate induction lics with the cuffent Chal￿erSon. Once trusteeB are appointc(L tbey are given a
TnLStees Induction Pack which includes infonnation on:
• Background inforn)ation about Tbe PROSPECTS Foundation
i Roles & Respon8ibilities of Trustees
. Organisational Chart
• Charity Commission leaflet 'Responsibilities of Charity Trustees..
Appropriatc trailling is ar£anged for Trustees, following consultstion on their trnining needs.
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The PROSPECTS Foundation
Trustees, Report
Organi5Ationa] Structurc
In general. the tNstees have overall responsibility for the govenw￿e and strategic direction of the Foundation.
The day-to-day operational business of the Foundation is delegated to the ChaTity Development Manager.
The PROSPECTS Panels
Each of the PROSPECTS Panels has one T¢pr¢sentative appointed to the PROSPECTS Foundation Managcmenl
Comrnittee.
Rlsk managernent
The trustees have assessed the major risks to whicb the charity is CXP05ed, in particular those related to the
operation and finance of the charity and are satisfied that systems are in place to mitigate tkneir exposure to major
risk5,
The Charity has the following insurance coi'er in place..
. Employers Liability. £10 million
Public Liabillty. £5 million
Products Liability, £5 million
. Trustee Liability. £1,000,000
. Person81 Ac¢id¢nt Cover for Slaff, Trustees & Volunteers £10,000
. Property Damage
• Contents Cover
• Legal Expenscs £250.000
oR1E￿IvEs AND ACTIVITIES
OUR CHARfTY'S OBJECTS
Publlc Benefit
The trustees confirni that we have paid duc regard to the Charity Commission guidance on public benefit
reporting in deciding what 8clivities the charity should undertake.
The objects of the Foundatio￿ as set out in our Memorandum of Asswiation, are 85 follows:
A) The Advancement of EnviroDmental Prote£tion or ]mprovcment, includin8:
l) the ¢onseryatioD of flora, fauna and the Datural environment in Hyndburn generally:
a2) the edu¢ation of the public around local and global sustainable development and biodiversity. and
a3) the promotion of recycling and sustainable waste n)anagetnenL
B) The Advancement of Citizensbip and Community Development, including..
bl) the promotion of volunteering to improve the skills, qualities and life prospects for residents of
Hyndburn;
b2) the promotion of community capacity building in pursuance of environmental and sustsinable
developrnent purpose5" and
b3) the promotion of urban and nwaj r¢gen¢ration in Hyndburn, in relation to Sustainable development
for current and ￿tllre generations.
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The PROSPECTS Foundation
Trustees, Report
OUR CHARITY'S ACTJVJTIES BETWEEN NOVEMBER 2D23 AND OCTOBER 2024
In order to achieve the objertives set out above, the Foundation carried out the following programme5 of work
whilst also spending time looking for funding to continue projects beyond the end of the financial year.
a. Windfall Con)muDlty Benefit Fund
EnergieKontor UK Ltd. has creatrd the 'Windfall Fund. for the 25-yeaT life of the wind farn) on Oswaldtwistle
Moor in Hyndburn. The PROSPECTS Foundation receives £105.000 per year (iiidex-linked from February
2010) to employ a Con]munity Projects Officer and provide a capital fund to support volunteer groups i
Hyndburn in developing proje¢ts in lin¢ with our six Sustainability themes.
During the year we received income of £185,335 for the Windfall Fulld. Total expenditure during the yeat
amounted to £175,025 and Consisted of the grants Paid out plus the ruDDing costs of the Fund.
There are ihree funding deadlines per year for Small and Large graTJt5, Mini grants can be applied for at any
time. Th¢ alliount available for Mini grants bas remaill￿ at £1,000 P¢T proje¢L Srnall grants aTe up to £5,000 per
project and L8T8e grants are above £5.000. There were no community or school visits to the v4ind fam thi5 year
due to no staff being available from Deutsche WindteKhnik Ltd (EK contractor) to facilitat¢ this.
Over the financial year a total of 33 grants were paid out, including 19 rnini grants totalling £15.602, 9 Small
grants tolalling £26,340 and 5 Large grants totalling £81,633. Included in these totals are the grdnts paid to The
PROSPECTS Foundation totslling £42.035 towards the following projects
Brookside R¢storatiQT). IA)W
Carbon Commumty Buildings. Eco-Fest 2024 and new office heating. Ov¢t811, £123,575 was paid out in grants
duTing the year.
b. Hxbhats and Herltsge In Hyndburn
Tbis was originally a 3-year pro8ramme. which started in May 2019 and was planned to run until th¢ end of
April 2022. However. owing to activities being curLgiled during the COronavin￿ pandemic and the Project
Officer I￿ving in May 2021, th¢ fiuKler agreed to an extension until 30th April 2023. A furth¢r extension wa5
subs¢quently granted due to the second PrOj￿t officer leaving at the end of April 2023 with some of the work
incomplete. The project was finally completed in April 2024 when the last few payments were made. The
project f¢M￿ed on woodl&n£Ls in Hyndburn and in particular the long-tmn management and con$¢TVJtion of 8
Lancasbire Cowlty CouDcil woodland sitss. Part of the project was to map all the woodlands in the borougb and
C8Jry Out condition surveys of at least IOll/o of the woodiaud$ to give a pictUT¢ of th¢ hcaltb of the collectivc
woodland habitat in HyndbunL A database of inforn￿tiOn Wds created whicb Ilas been made publicly available
through a new Hyndburn Woodland website.
The project offered a range of voluntecTing opportunities in practical conservation techniques, surveying and
mapping Work and included a comprehensive training programme in woodland management. wood]aDd crafts
and identifying skills. It offered the opportunity for local p¢ople, schools and groups to g¢t illvolved and al80
Provided advice on what to see in woodland4 where to go for woodland walk5 and activities indivithials can
enjoy in the borough's woodlartds.
Money wa5 ¢￿TI¢d over from the prcvious fmancial year and erpenditurc durin8 this financial year totalled
£3.083.
c. Outdoor Learnlng
We secured fi￿ding for thi5 three year programme from the Ernest Cook Tn￿t early in 2020 but du¢ to
CoronaviTUS the Outdoor LeaTning Project Officer didn't start with us until November 2020. The programme is
aimed at helping people connect with the outdooT5 &nd l¢Jrn about environmentsl management through
adivities and workshops. with a specific focus on way5 to mitigate climate change.
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Tbe PROSPECTS Foundatio
Trustees, Report
Unfortun8tely the Project Officer left in December 2021 and duc to H nutnber of reasons the post wag vacant for
two years. However, following a successful recrnitment process a new Outdoor Learning Officer started at the
beginning of November 2023. They have worked with a number of schools and community groups and carried
out activitie5 including food gromryng at Millerfold allotment, constNrting model wind turbines with school
children, wreath makin& forest school activities and leading guided waLks.
Income during the year foi. the projert totallcd £8,430 from the Ernest Cook Trust and £2:500 from Onward.
Bxpendift]re during the year totalled £34.82].
d. Peel Pwrk Pollinators
The Peel Park Pollinator project took over seamlessly from the Peel Park and the Coppice Local Nature Reserve
project in April 2023. The nature of the work shifted sligbtly to concentrating more on jusl the grassland and
heathland areas in respect to pollinators and was funded by the Lancashire Wildlife Trust via funding from
Lancashir¢ Environillenl Fund (LEF) and National Highways. Moth, butterfly and bee surveys were carried out
at int¢rva]s aeross the summer months alon8 with other 8rassland conservation activitie5 such as s¢¢d wllecting,
scything and spccies ID and recording 811 with the belp of volunteers. A butterfly bank was also constrncted on
Plerk M¢adow. The project ¢am¢ lo an end at the end of October 2024.
Income received duTing the year for this project totslled £17.421 from the Lanca5hire Wildlife Trusl. £1.985
frojll Naturnl England and expeDditur¢ was £39,126.
Comnjunity Tree Actlon
We secured the funthng for this project from Hyndburn Borough Council's Clin]ate Emergency budget. This has
beeD extended to a four year project which started in July 2023 with the aim of planting ot least 15,(KIo tr¢¢5
(contributing toward5 the tree for every resident target) by the end of June 2027. Most of the trees will be
planted on Hyndburn BoTougb Council lao
Income of £7,273 was received from Trees for Cities, £30,000 fron] H￿ndbUrn Borough Council. £7.790
tranSfe￿¢d from the Habitats & H¢ritage prograTnm¢ and £1,560 from the Hyndburn Woodlands proj¢cL
Expenditsre for the year totalled £46,677.
f. HyDdbllrn W(Jodiands
This project follows on from the Habitats and Herilag¢ proj¢rt but ha5 an eznphasis on WhiDney Hill woodland.
8 other Laneashir¢ County Council woodlands are also managed thn)ugh this project plus oth¢r woodland
related work a¢ros5 Hjmdburn. This project started in July 2023 and will run for three years. We have s¢awcd
funding for tbis work from LancashiR Cow)ty Coullcil and HyndbuTn Borough Council {Section 106 monies).
Income received in the financial year totalled £22,291 and the expenditure was £23.862.
BroDkslde Restoratlon
We hav¢ been workin8 on a new project aiming to transfonn the old Brookside induslrial site in Strdnhill village
in Oswald￿1st1e into a haven of biodiversity. habitst recovery, carbon capturc and Clin￿te artion. This first 18
Month dcvclopm¢nt phase is a partncrship b¢twcen PROSPEcfs, Hyndburn Borougb CounciL Lancashire
Wildlife Trnst. Ribble Riv¢T5 Trust, Stanhill Village Community Associatiott al￿ Proffitts, Investing in
CoMnll￿ties. CIC. We have been WOTking with volunteers and community groups on habitat and ￿¢¢$8
improvement5 aud have been gathering the views of the local Community to inform the development of a
Maste￿laTh which will steer future improvements.
Jncorne received d￿ing the year wa8 £96,556 frorn The National Lottery and interest paynThts and £25.035
from ihe Willdfall Fund. Expenditure totalled £58,047.
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The PROSPECTS Foundation
Trustees, Report
h. Low Carbon Community Buildings
Thanks to fimding from Electricity North West's 'Powering Our Communities. Fund and the Windfall Fund we
stsrted a new year long project to help Community buildings in Hyndburn lower their carbon footprint and take
action against clitDate ¢bang¢. By improving the energy elTJGienGy of tbeir buildings> community organisations
will reduee their energy costs, helping them to bewrne more fllmicially viable. meaning they can conlinu¢ to
provid¢ valuable services and support local people. Their buildings will also bc wanner, providing a more
welcotniTJg 5pacc for Users. Communty groups are Support￿ in obtsining an energy aL,dit of th¢ir buildings and
applying foT funding for energy efficicncy and renewable energy measuffs.
Income of £14.054 was Teceived from El¢Gtricity North West and £15,000 frthn the Windfall Fund. Expendirure
forth¢ year was £15.519.
L Great Harwood Memorlal Park
We have been working in partnership to deliver woodland improvements at Memori21 Park in Great Harwood as
part of a larger Hyndburn Borough Council project fiulded by the National tA>ttery HeTitage Fund. We Carried
out work in Roiind Wood including the removal of invasive rhododendron. We also designed a nature trail
around tb¢ Park and Worked with a local school on the design of a for¢st school are&
Jn¢om¢ received was £22,736 and the ¢xp¢nditUTe on th¢ project was £18.773.
J. Eco Fest 2024
We held our third very successful Eco Fesi 2024 on Broadway in Accrington in June 2024. It enabled us to
pronM)te PROSPECTS to a wide audience and on the day we rnade over l 00 wildflower seed bombs and gave
away more than 200 g(KJdy bags. Hundr¢ds of p¢opl¢ visited our stall and many enquired about volunteering
with us people and signed up to our mailing list. We hosted over 20 stall8 from other environmental
organisations and chaTities and pro￿￿)led all thing5 eco via talks. demon5tratiiJn8, perforniances and handg-on
activilies. It was such a success that we are already platmin8 Eco Fest 20251
We received funding for the event from Hyndburn Borough Council, Windfall Fund and Hyndbum Leisi]re.
The totsl expenditure on the festival was £12,323.
IL Woody (Hyndburn) CIC
Durin8 the year the Prospects. staff continued to provide 8UPPOrt to Wocdy (Hyndburn) CIC (re8iSter¢d charity
munb¢r 07984087), one of our link¢d s￿]81 ent¢rpris¢s. Woody {HyDdburn) CIC was set up by Thc
PROSPECTS Foundation eleven years ago and is legally and fllwicially a separate organisation. It is
completely volunteer led and most of its income is generated from woodland management contract work and
woodtiith sal￿. The 855rt lo¢k for Woody (Hylldbum) CIC is The PROSPECTS Foundation, Nvhich means
that assets, (including any profits) must be retained within the CIC to be used for the Community pu￿)SeS for
which it was fonne¢ or can be transferred and used to benefit the Work of PROSPECTS.
l. Prospects Communlty Energy
We a150 provided som¢ small support for PrOSp￿t5 Coll]munity Energy Ltd (PCE), a Gommunity i￿efit
s(Kiety. set up to tske forward the feasibility study and future development of a solar meadow at our site at
Coach Road in Ogwaldtwistle. PCE, funded by the Rural Community Energy Fund (RCEF) and trM)rc recently
the Comull￿ty Encrgy Fund (CEF) and Hyndbum Borough CounciL has been w0￿1n8 with Sharenergy and
during the financial year received planning perniission from Hyndburn Borough Council for the photovoltaic
arroy to go ahead.
Pflge 6

The PROSPECTS Foundation
Trustees, Report
hL Tlnker Brook Tree Nursery
The Tinker Brook site has been Iwed by the ¢harity from H￿dburn Borough Council since 1998. In 2007 ihe
charity entered into a new lease with the Council for the site that will expire in August 2031. The sile is
CUTrently used on a day to day basis to facilitste horticlllturdl trdining and day care services foT people with
learning difficulties. This service is provided by Tinker Brook SuP￿rt Services CJC. registered company
number 11839753. As part of our Coinmunity TreeAction proje¢t we are rontinuing to d¢velop a tree muscry al
Tinker Brook, with the wvice users, planting and caring for tree saplin8S.
. Coach Road Meadows
The land at Coach Road Meadow was purchased by Pr05pects in March 2005. During the last couple of yeaTS
Prospects Community Energy Ltd lias been taking fonyard plan5 to develop a solar n]eadow on the site (see
above). Planning p¢mii55ion for the photovoltsic array now been granted and PROSPECTS will have to
fomally lease the site to PCE {or other development orgaJij5ation). which will result in secuTing a small annual
income.
o. Charity Development work
A continual and necessary part of our work involves se¢uTing external funding in order to continu¢ our chaTity
work DuTing the year we were successful with new funding applications to Onward Homes. Windfall,
Hyndburn Borough Council, IAncasbire Wildlife Trust and Hyndlxwn Leisure.
Other Clwity Development work ha8 included organising and facilitating Manageme]Jt Con)mittee and Finance
GTOUP meetiDg5. Tbe AGM was held at Barjk Mill Housc in Great Harw￿d where we looked at the woodland
alld habilat work undert8kell 81 Memorial Park The work has also included liaising with our T￿aSure[ and staff
to monitor project budgets and fullder monitorillg requirements and the line m￿gement of staff.
Tbe pr0¢¢s5 of rhanging the fonnal structure of The PROSPECTS Foundation from a Tegistered charity ?nd
company limited by guaTantec to a Clwitsble Incorporat￿ Organisation (CIO) 18 8till on hold. The advanlagcs
however of the new SIn￿tUre would include the fact that accounts will only have to be filed with the Charity
Commission and not with Companies House as well; there will be no dual regulation. Trnstees will still benefit
from limited liability.. and the structure 15 specifically desigtted for ch￿ltieS.
We also started the process of ￿lting a new 5 year Development Plan, wl)icb involved WOTkshop8 with staff and
trustees and hopefully thi5 will be finalised in th¢ next financial year.
DuTing the year the Charity Manager p03t was funded by management fees. Expenditure thring the ye&r was
£44,052.
The cbarity has gone from strength to Strngth in the last couple of years and during the majority of ihe
202312024 year we had 8 staff. the most in the chaTity's history.
p. The PROSPECTS Pine]s
The PROSPECTS Panels are separate entities 2nd their finances do not therefore show in our aGcounts. They are
an important part of the PROSPECTS movemenL and deliver a range of volunteer PTojects in their
neighbourhoods that are important to local people. There is a relationship of mutuality bthveen the Foundation
and the Panels. The Foundalion provides centralised services to support the work of the Panels, and the Panels
frequently provide volunt¢cr skilled labour to work on projed5 other than their own. Panels sel¢¢t a
representative to serve on the Foundation'5 management committee. Four of the ¢ight Panels are currently
a¢liv¢: Baxenden Community Fonjm. Clayton-le-Moor8 With Altham Pn)speets Panel, Hun¢oat Community
Fonmj and Rishton Prospects Panel. During the y¢ar Prospects staff supported the panels with a number of
pn)jects.
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The PROSPECTS Foundation
Trustees, Report
q. Volunteer contrlbvtlons to the PROSPECTS FouDd*tion
The trustees are extreinely srateful for th¢ contribution that our volunteers make in tem]s of giving their own
valuable time. support, advice and help and we fully recognise that this suppori is vital in enabling the
Foundation to achieve its objethives. Il is thi5 enornious volunteer effort which ensures that the work achieved
by PROSPECTS is far, far great¢r than tbai repr￿¢￿tea by the foTrnal accounts. It is ihe backbone of everything
we do.
F]NANCIAL REVIEW
The attached stat¢m￿t$ sliow the CU￿ellt state of the finances.
Total in¢orning r¢SoL￿r¢S increasd from £386,933 to £486,601 an increas¢ of £99,668 frorn the previous year.
The total resources expended incras¢d fron) £350,755 to £444,547 an Increa￿ of £93,792 frorn the previous
year. The net incorning resources for the year were £42,054.
Restricted inc4)me for specific activities totalled £453287 and total restrlcted expenditure was £414.712. The
overall balance on Testricted funds was £37,575 at the 31 October 2024.
The size of the balance is due to grants paid in advance of expenditure being incurred. The balance will be
CATried fonvard and spent on s￿¢)riC scheme5.
Policy on reserves
The Trustees have adopted a policy regarding reserves which ensu￿5 we are able to meet all our CULTent and
future liabiJiti¢5 aDd is reviewed annually and approved by the Management Con]mittee, As we are so dependent
on grants it is Considered that the level of reserves ne&ls lo be adequate to maintain Core activitie5 and that the
equsvalent of three rnon¢hs of totsl expenditure is appropriate (being approximately £1 11,150). During the year
the ullrestricted r¢serves increased from £134,905 to £139.384. The RescrYe5 include £15,000 tied up in fixed
assets. Henee, the free reserves amount to £124 J84.
PLANS FOR FUTURE PEIUODS
The key tssk5 Ihat have been identified for the forthcorning year are as follows:
StrAtegic
Revyew and set Aims and Objectives annually {en8uring 'Community' features as much as
'Environment' and that all our themes are well represented)
Finalise the Developrnent Plan
Ensure wide consultation with the broader local community to belp influcnce current and future
progT2mmes, projects and activities
Keq) under review the ll￿ke-up of the Managemeni Committee in terni8 of Community representation
and re]evant skills
Reconsider th¢ Conv￿910n of our status from a Charity into a Charitsble IncotPOTated Organisation
(cio)
Ensure c]imate change is at the core of our decisions and activities
Maintain and develop good relations with partner organisations to further the aims of the cbarity and to
ensure climate change is on the wider agendp thTovghout Hyndburn
WoTk Closely with PROSPECTS Community Energy to assist with the development of the solar
meadow at Coath Road
Work closely with Hyndbum Borougb Council and trustees over the plans for Lo¢al GOvernM￿t
Reorganisation and the impact on the Foundation
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The PROSPECTS Foundation
Trnstees, Report
Projects & Programmes
Review existing projects and amend l enhance l improve as necessary
Secure continuation fvnding for exisiing Projects and source funding for new project activities
CoJJtinu¢d annual ￿l¢W of the (klivery of grant8 to the conllll￿ty throu8h tb¢ Windfall Commuwty
Fund
Charity Management
Update and review policies in the Staff Handbook as and when necessary, prioritising Safeguardin&
Volunteerin8, Health and Safety ar￿ Equality and Diversity
Ensur¢ regular monitoring and evaluation of all our work
Improve facilities at our EnvirOnm￿t Centre and at our training centre in Oakhill Park
Review the suitability of our current premise8 for the needs of the charity's activities
Put together & training prograrnme for trustees and staff including Carbon Literacy training
Furth¢r work planned for 2024125 Includes:
Generate new project ide88 With clirnate change at the heart of what wc do, and particularly in r¢sponse
to the Action Plan asso¢iat¢d with the new Development Plan
Work closely with H)￿dburn Borough Council alld other partners to develop projects across the
Ixjrougb including in relation to Local Govenjment Re4)rganisation
Increase PROSPEcfs Foundation membership
Continue the closeT working with the PROSPECTS Panels
Secure funding to continue existing projects and for new pro￿aMme$ of work
Secure long tenn future funding for the Brookside woject, in partnership with other organisations
Improve and update our social rnedi8 plarfoms including our website, Fa¢ebooK YouTube and Thvitter
accounts and hold social media training for staff. trnsttes and Panel members
Plan and deliver our fourth Eco-Fest 2025 in Acoington town centre
Our Six Themes of Sustslnabillty:
These are set by the Mana8ement Committee and provide the frnmework within which the Charity develops its
project work..
lodfverstty - protecting and enban¢ing local wildlife and plant lif¢
Energy Saving - home alld ry)rnznunity energy efficiency and development of renewables
Suitslnable Transport- encowaging more use of public transport, cyGling and walking
WAste and Reryclkng- idcntifying more ways of redu¢iJLg, reusing and r¢cycling our waste
Lo¢al Food- encouTaging more local, organic, healthy food, grown by the comnMu)ity for the community.
Envlronmental Awareness - raising awartness of our work and of environmental issues in genera]
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The PROSPECTS Foundation
Trustees, Report
Snthll eompanles provtslon statement
This report has been Prepared in accordance with the small companies regime under tbe Companies Act 2006.
The annual report was approved by the trustec5 Of the charity on 26 March 2025 aJKI signed on its behalf by.
Vincent-Barwood
Trustee
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The PROSPECTS Foundation
Independent Examlner's Report to the trustees of The PROSPECTS Foundation ('the
Company,)
I report to the charity trU￿e¢S on my examination of tbe aceounts of the Company for th¢ year ended 31 O¢iober
2024.
Responsibilitie$ and basis of report
As the charity's t￿SteeS of tl)e Company land a150 jt5 directors for the pu￿oSeS of company law) you are
responsible for the preparntion of the a¢counts in accordance with the requireTnents of ihe Companies Aet 2006
{'the 2006 Act.).
Having satisfied myself that the accounts of the Company arc not rwuired to be audited under Part 16 of the
2006 Act and are eligible for independent examinatioo I report in ￿speCt of my exatllillation of your charity.
accounts as catTied out under section 145 of the ChaTities Act 2011 ('the 2011 Act.). In caTrying out my
examination I have followed tbe Direction5 given by the Charity Commission under s¢dion 145(5)(b) of the
2011 Act.
Independent examiner'5 Statement
Since the Company's gross income exceeded £250,000 YOUT examiTJer must be a member of a body lisl¢d in
section 145 of the 2011 Act. I confm that l am qualsfied to undertake the exavnillation because I am a member
of the Association of Cbarity Independent Examiners, which is one of the listed bodies.
I have cA)mpleted my examination. I confm that no rnafters have come to my attention in connection with the
examination giving me cause to beli￿e.,
a￿OuntIng T¢£ords wer¢ not kept in respect of Th¢ PROSPECTS Foundation as required by section 386 of
the 2006 Acl. or
2. the accounts do not 2CCOTd with those record5. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'trne and fair view, which is not a matter considered as part of an
independent examination; or
4. the accounts have not been prepared in a¢¢ordan¢e with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities [applicable ¢0 charities preparing their
arxounts in a¢GoTdallGe with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be rea¢bed.
Heaton FCCA FCIE DChA
1st Floor, Block C
The Wbarf
Manchester Road
Burnley
Lancashire
BBI I IJG
26 March 2025
Page 11

a

The PROSPECTS Foundation
(Registration number: 03686719)
Balance Sheet as at 31 October 2024
2024
2023
Fixed a88eti
Tangible assets
12
15.000
15.(K)o
Current assets
Debtors
Cash at bank and in Iwid
13
9,762
677,721
687,483
(207.016)
456281
456,281
Creditors: Amounts f*lling du¢ within one year
14
(17.868)
Net curreDI as5e15
480,467
438,413
Net assets
495.467
453,413
Funds of the charity:
Re8tricled income funds
Restricted fimds
356,083
318,508
Unmtrltted Intome funds
Unrestricted f(mds
139,384
134,905
Total funds
18
495,467
453,413
For the fmancial year c1￿1n8 31 October 2024 tbt charity was entitled to ex¢mption from audit under section
477 of the Companies Ad 2006 relating to small companies.
DirectOTS' responsibilities:
The members have not required the charity to obtain an audit of its a¢￿Unts for the year in question in
accordance with section 476,, and
The directors acknowledge their responsibiliti￿ for complying with the requirements of the Act with respect
to acrounting rewrds and the prepaTation of accounts.
The financial staternet)ts on pages 12 to 22 were approved by the tN5tees, and authorised for issue on 26 March
2025 and signed on their behalf by:
Mr P Vinc¢nt-Banvood
Trustee
Th¢ nolcs on pages 14 to 22 forni an integral part of these financial statements.
Page 13

The PROSPECTS Foundation
Notes to the Financial Statements for the Year Ended 31 October 2024
I Charity status
The ¢lwity is limited by guarantK, in¢orporat¢d in England and Wal¢s, and consequenily doe8 not have thare
capitsl. Each of the trustees is liable to contribute an amount not exceeding £1 towaTd5 the assets of the Charity
in tbe event of liquidation.
The address of its r¢gister¢d office is..
54 Broadway
Acerington
Lanra5hire
BB5 IEW
TIL¢se fJnan¢ial stat¢m¢nls wer¢ aUth￿l5¢d foT issue by the trustees on 26 MarGh 2025.
2 Accounting pollcles
Summary of sfignlflcant accollntlng pollcles and key a¢￿vndnE estlmates
The principa] accounting policies applied in d)e preparation of these financial ststement5 ar¢ get out below.
Th¢s¢ polirie5 have ¢onsisl¢ntly applied to all the y¢ars presentcl UTJI¢s5 otherwise stated.
Staten*nt of eompllance
The finan￿ statements have been prepared in accordance with Accounting aDd Reporting by Charities:
Statement of Recommended Praclice (applicable to clwities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
- (Charitie5 SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Irela￿d
(FRS 102) al￿ the Companies Act 2006.
Basis of preparation
The PROSPECTS Foundation meet8 the definition of a public benefit entity under FRS 102. Assets and
liabilitie5 are initially recoBni5ed at historical cost or transaction value unl¢ss othenvise slated in the relevant
a¢counting policy noteg.
Coing concern
The Iru5tees consideT that theTe are no mateTial uncertaintics about the cbarity's ability to continue as a going
con¢ern nor any $i￿1ficant areas of unrertaijjty that afftct the ¢￿]llg value of assets held by the Ch￿lty.
Expendlture
All expenditLwe is recognised once there is a le8al or constructive obligation to that expenditure, it 1$ probable
settlem¢nt 1$ required and the omounl can be measur¢d r¢liabty. All costs aTe allocated to the applicable
expenditure heading that ag￿gate similar costs to that category. Where costs cannol be directly attril)uted to
particular headings tbey have been allocated on a basis consittent with the use of resources.
Charitable aetivitles
Charitable expenditure comprises tbose costs incurred by the charity in the delivery of its activities and services
for its beneficiaries. It includes both costs that can be all(￿ated directly to sucb xtsvities and those costs of an
indirecl nature necessary to ￿PpOrt them.
Page 14

The PROSPECTS Foundation
Notss to the Financlal Ststements for the Year Ended 31 October 2024
Grant provislons
Provisions for ￿allt5 are n￿de when the inlenlion to make & grant has been conllnunicated to tb¢ T￿lplent but
there is uncertainty about either the timing of tb¢ grant or the amount of grnnt payable.
Governance costs
Th￿e include the costs attributable to the charity's c4)mplt8nce with con5ti1utioDa] and statutory requirements.
including Inde￿aint exan]ination, strategic managell)ent and trustees's meetin88 and reimbursed exPen￿s.
Taxatlon
Th¢ charity 15 considered to pa88 tbe t¢5ts set out in Paragraph I Schedule 6 of the Finallce Act 2010 and
therefore it meets the definition of a charitable company for UK ¢ory)oration tax purposes. Accordingly, the
chaTity is potentially exempl from tsxation in Tespect of income or ¢apitsl gains received within categori¢s
covered by Chapter 3 Part I l of the CotyoTation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent tbat such income or gains are applied exclusively to charitable pu￿Oses.
T4n%ible fixed *55ets
Deprwialion is provided at the following rates in ordeT to vnitc off each asset over ils estimated use￿1 life.
Freehold land
not provided
Trade debtors
Trad¢ debtors are amount8 due from customers for swvices perfornied in the ordiuary cours¢ of business.
Trdde debtors are recognised initially at tbc trgnsaction price. They arc subsequently measured at amortised cost
using the effective interest method. legs provision for impairnient. A provision for th¢ impairnient of trade
debtors is established when th¢r¢ is objective evidence thal the charity will not be able to Collect all amouTrt5 due
according to ttle original tern)s of the receivables.
Fund structvre
Unrestricted income funds are general funds that are available for use at the tnL8tees discretion in furtherance of
the objwtiv¢s of th¢ charity.
Restsictcd incollle fimds are those donated for use in a particular area or for specific purposes, the use of which
is restricted to that area or purpose.
Pensions and other p05t rctirement obligations
The charity operates a defined contributlL)n pension scheme which is a PCn5ion plan under which fixed
contributions are paid into a pension fund and the clwity has no legal or constrnctiv¢ obligation to pay fither
contributions even if the fund does not hold sufficignt assets to pay all employees the benefits ielating to
employee service in the CUTrent and priorperiods.
Contributions to defined contnTr>ution plans ar¢ recogni5￿ in the Statement of Financial Activities when they are
due. If contribution payments exceed the contribution due for serYic4 the excess is recognised as a prepayment.
Page 15

The PROSPECTS Foundation
Notes to the Flnanclal Statements for the Year Ended 31 October 2024
3 Jncome from donations and legacie5
Unrestrleted
funds
General
Tot21
2024
TotAI
2023
Regular giving and capital donations
325
325
397
325
325
397
4 Income from charitable aetivities
Total
2024
Total
2023
Restricted
Tinkcr Brook S.S CIC
Grants
6.725
425,336
6,725
425.336
6,375
336,816
432,061
343,191
Grants rcceived. iJJc1ud￿ In the above. are as follows:
Energickontor
Local Authority Grants
Heritage Lottery Fund
Lan¢a8hire Wildlife Tnjst
Onward Hom&%
Em¢st Cook Trust
Hyndburn LeisuTe
Other wts
Natural England
Ribble Riv¢rs TTUSt
Nin￿Ch Trust
Trees for Citics
Electricity Northwest
The National Lottery Climate Action Fund
182,341
81,394
9.510
17,421
2.5
8.430
1.000
182,341
81,394
9.510
17,421
2,500
8,430
1,000
167.799
60,000
40,702
21,700
1,486
12,591
200
4,999
4,999
25.862
1,51K)
4,976
7273
14,054
96,414
7.273
14,054
96,414
425.336
425,336
336,816
S Other incon
Unrestrltted
Totgl
2024
Total
2023
Cenergl
Restrkted
Fees and charg¢s
Other
17,344
780
17,344
24,814
14,187
22,684
24,034
24,034
18,124
42,158
36,871
Page 16

The PROSPECTS Foundatio
Notes to the Financial Statements for the Year Ended 31 October 2024
6 Expendlture on Charitable activitie5
Unrestricted
Total
2024
Total
2023
General
Restrltted
Note
Grants
Governance costs
Staff costs
Charitable activity
AIIocAted support
0St5
81.038
2,008
192,939
91,175
81.038
2,150
215,124
98,463
41,642
2,100
176,912
80,096
142
22,185
7,288
220
47,552
47.772
49,980
29.835
414,712
444,547
350,730
The totsl grants paid to institution5 dwing the year was as follows.
General Grants
(under £5000)
St.Paul's Parochial
Church Council
BaxendeTJ & District
Golf Club
The Dog Inn
(Belthorn) Ltd
Active Lanwhire
OswaldtWi8tle and
Cburch Conservative
Club
Rishton Methodist
Church
39.440
39,440
9,642
7.000
15.OCK)
10,000
10,750
10.750
10,91N)
10,900
19,948
19,948
81.038
41,642
7 Analysis of governanee and support cost5
Governance co818
Unrestrlcted
funds
Gener81
Restricted
funds
Total
2024
Total
2023
Independent exami￿ fees
Exarnination of the financial
tatements
142
2,008
2,150
2,150
2,100
142
2.008
2,100
Page 17

The PROSPECTS Foundation
Notes to the Financial Statements for the Year Ended 31 October 2024
8 Tru3tc¢$ r¢mun¢ration wnd ¢%pens¢s
No trLtstee6, nor any persons connected with them, have received any remuneration from the chaTity during the
ye￿.
No tru5t¢cs have Tcccived any reimbursed exp¢JL8¢S from th¢ charity durin8 the year.
9 Staff costs
The aggrega1¢ payroll ¢0818 w¢r¢ as follow8:
2024
2023
Staff costs during the year were:
Wages ajjd salaries
Social s¢curity costs
Pension rosts
192,246
17,430
5,448
157,625
14,275
5,012
215.124
176,912
Th¢ monthly average llumb¢T of peT50ns (including Senior management I leadership team} employed by the
charity during the year expressed as fjjll time equivalents was as follows:
2024
2023
ChaTitable activitie8
No en)ployee Teceived emoluments of rnore than £60,000 during the y¢3r.
10 Independent examiner's remuneration
2024
2023
Examination of the f￿anCial 5taternents
2,150
2,100
11 TaxAtlon
Th¢ charity is a r¢gist¢rcd charity and is theT¢for¢ ¢x¢mpt from t&xatio
Page 18

The PROSPECTS Foundation
Notes to the Financial Staternents for the Year Ended 31 October 2024
12 Tangible fjxed assets
Freehold land
Total
Cost
At l Noventher 2023
15,000
15,000
At 31 October 2024
15,000
15,000
Depreciation
At 31 O¢tobcr 2024
Carrylng amount
At 31 October 2024
15,000
15,000
At 31 October 2023
15.000
15,000
13 Debtors
2024
Trade debtor5
Other debtors
5,281
4,481
9,762
14 Creditors: Amounts falling due wlthln one year
2024
2023
AccTuals
Deferred income
19.760
187256
17,868
207.016
17,868
2024
Def¢￿ed in¢ollLe at l November 2023
Resources deferred in the period
Amounts released from previous periods
187,256
Deferred incontr at 31 October 2024
187,256
Page 19

The PROSPECTS Foundation
Notes to the Financlal Statements for the Year Ended 31 October 2024
15 Leaslng agreements
The total value of future minimum lease payments was as follows:
2024
2023
Within one year
In to five years
7,500
25,625
7,500
33,125
33,125
40,625
16 PeDslon and other sthemes
Defined contribution pension scheme
The clwiiy operates a defined contribution pension scheme. The pension cost Charge for the year represenls
contributions payable by the charity to the scheme dnd amounted to £5,448 (2023 - £5,012).
17 Related party tran5actioni
Some of the trnstee8 for the Charity also make up the board for Prospects Community Energy Lin]ited, a
registered society. Dwing the year the Charity made a grant Pa￿nellt to Pr05pe¢ts Cotnmunity Energy Limited
amounting to £250.00, this was to help fund the purchase of some office equipment.
Page 20

The PROSPECTS Follndation
Notes to the Financial Statements for the Year Ended 31 October 2024
18 Funds
Balance at I
November
2023
Balance at
31 October
2024
Incoming
resourees
Rcsources
expended
Transfers
Unrestricted
General Fund
134,905
33.314
(29,835)
1,000
139,384
Restricted
OtheT Projecls
Windfall
Charity Manager
Habitats & Heritage
Outdoor Learning Project
Community Tre¢ Action
Hyndburn Woodlands
Peel Park Pollinators
Brookside Developrnent
Officer
L()w Carbon Cornmunity
Building Officer
Gt. Harwood Memorial
Woodland
64,925
109,813
14,838
185,335
18.798
9,510
10,930
38,833
22,291
19.406
(23,016)
(132,990)
(18,798)
(3,083)
(34,821)
(46,677)
(23,862)
(39,126)
1.000
(42,035)
57.747
120,123
1,363
44,439
31,931
46J17
19.720
(7.790)
20,548
31,877
44,746
7.790
96.556
(58.047)
25,035
63,544
14,054
(15.519)
15,000
13,535
22,736
453.287
(18,773)
(414,712
3,963
318.508
(I,CM)O)
356,083
Total funds
453.413
486.601
444.547)
495 467
Page21

The PROSPECTS Foundation
Notes to the Financial Statements for the Year Ended 31 October 2024
Balance
Bal*nce
atl
Other
at31
November Incoming Resources
recognised O¢tobtr
2022
rtsources
expended Traniferi galnsloosses) 2023
Unrestricted
GeneT21 Fund
125,756
27,305
(18,131)
(25)
134,905
Restricted
Other Projects
Windfall
Charity MaDager
Rewilding
Habitats & Heritage
Outdoor Learning Project
Natural Cojmections Ranger
Programrne
55,073
94,648
9.435
15,390
23,248
23,064
30,075
170,049
13,667
486
{20,223)
{90,913) (63,971)
(13,292)
{9,810)
{8,104)
(7.772)
(21,885)
{440)
64.925
109,813
1,363
44,439
21,815
37,727
12.422
13,436
40.702
7.591
25,862
21,700
5,496
44,000
359,628
{79,429)
{12,661)
(38,494)
(22,002)
(17,473)
(7,683)
332,599}
1,000
(7,352)
(804)
20,022
36,872
10,000
LNR Coppice Project
Peel Park Pollinators
Communty Tree Action
Hyndburn Woodlands
19,720
31.931
46,317
318,508
7,036
291,479
Totsl fvnds
417,235
386,933
350,730
(25) 453,413
19 Anyly8is of net a$$ets between funds
Unrestrleted
Totsl funds
ai 2024
GeDeral
Restrict¢d
Tangible fixed assets
Currejjt assets
Current liabilities
15.OlX)
144,144
{19,760)
15,(K)O
687,483
207,016
543.339
187.256)
Total net assets
139,384
356,083
495,467
Unrestrlcted
Total funds
at 2023
General
RestrActed
Tangible fixed assets
Current assets
cU￿ent liabilities
15.000
137,773
(17,868)
15,000
456281
(17,868
318,508
Total net assets
134,905
318,508
453,413
Page 22