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2020-12-31-accounts

Page
Report of the Trustees 1 to 8
Independent
Examiner's		 Report
Statement
of Trustees'		 Responsibilites 10
Statement
of Financial		 Activities
Balance Sheet 12to 13
Notes to the Financial Statements 14to 24
Charity No 1019665
F t',', Earlhworks Trust Limited Company
CC17a
Annual
accounts		 for the iud
Period start 01-Jan-20 To Period end 31-Dec-20
~ ~ ~
Reference and administrative details
Charity number 1079866
Company registration number 03011755
Registered Office: The Sustainability Centre
Droxford
Road
East Meon
Petersfisld
Hampshire
GU32 1HR
The trustees who are also the directors of the charity for the purposes ofthe Companies Act 2006 are as
Mr H M Qarke
Ms V Gould
Mrs M THarland
Mrs RJames (Appointed 18.06.2020)
MrJ RSaulet
Mrs M Rivett (Resigned 19.11.2020)
Mr BLamacraft (Resigned 16.06.2020)
Mr T Rollinson
Mr J Lane
Mr C R Hillyer
independent Examiner: Triple Bottom Line Accounting Limited
The Enterprise Centre
University
of East Anglia
Norwich
NR4 7TJ
Bankers: The Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT

mattem set o ut in the sta ut in the sta tement
be		 low.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
1 which gives me reasonable cause to believe that,
in any material
respect,		 ths
~ to keep accounting
records
in accordance
with section		 386of
the Companies
Act 2006, and
~ to prepare accounts
which accord with the accounting
records,
comply
with the accounting
requirements
of		 section
396ofths Companies
Act 2006 and with the methods		 and
principles
ofthe Statement
of Recommended
Practice:
Accounting
and Reporting
by Charities
preparing
their
accounts
in accordance
with the Rnanclal
Reporting		 Standard
applicable
in ths UK and Republic of Ireland (FRS 102)update
bulletin
effective 1st January 2015
Charity No taraaaa
Earthworks Trust Limited
Company
No (		 OM117SS CC17a
Annual accounts for the ried
Period start 01-Jan-20 To Period end 31-Dec-20
Restricted
Recommended
categories		 i/nrestrlcted Income Tatal this Tatal last
by activity Details af awn analysis funds funds year year
6 8 6 8
Income and Endowments
Donation
and Legacies		 Grants received 21 784 617,797 639,581 580,960
Charitable activities Donations and gift aid 191876 191,876 5,485
Income from trading
Investments subsidiaries and interest
received 137058 3,846 140904 151778
Other Other trading income 20.962 20 962 10107
Total Income 371680 621,643 993323 728 330
Expenditure Notes 5-7
Building operating costs,
Charitable activities depreciation and provision of
services 212,074 539 212,613 176889
Other Independent
professional		 inspection,
other
and financial.		 3 144 3 144 3654
Total Expenditwe 215,218 539 215,757 180543
Net income/(expenditure) 156462 621 104 777.588 547 787
Grass transfers
between funds		 1,047,886 -1,047,886
Nlavement for year 1,204,348 426,782 777 566 547,787
Total funds brought forward 1 015872 543,445 1 559317 1 011 530
Total funds carried forward 2,220,220 116863 2336883 1 559317
Unrestricted Restricted Restricted Total this Total last
funds funds year year
9 a 6 9
1 939,653 1 939653 914,939
102 171 52 434 154605 148091
2 041 824 52 434 2 094258 1 063030
368799 368799 236 489
605604 64 229 669833 483 129
974 403 64 229 1 038632 719616
451 007 345000 796007 223 331
523 396 - 280 771 242 625 496,287
2 565 220 - 228 337 2336883 1 559317
2565220 - 228 337 336883 1559317
2 220 220 2 220 220 1 015872
116,663 116663 543445
2 220 220 116663 2336883 1 559317

Note 2 A ccounting
polic		 ies
ASSETS
Tangible fixed assets for use These are capitalised
if they can be used for more than one year, and cost at
by charity least E100. They are valued at cost or a reasonable
value on receipt.
They are
used for chariitable
purposes.
Irsrestme nts Investments
in securities
are valued
at closing realisable
prices at the balance
sheet date.
The difference
between
opening
and closing valuation
of securities
is realised as a gain or loss in the income and expenditure
account.
Capital Grants Gifts of tangible
fixed assets or grants ofa capital nature
given for specific
purposes
and fully utilised
in the furtherance
of the objects ofthe charity are
credited to a relevant
restricted
fixed asset fund designated
for this purpose.
The related fixed asset is shown
on the balance sheet at the full cost of
acquisition
and depreciated
over the useful
life in accordance
with the
depreciation
policy (below). The restricted
fund is transferred
to general funds		 on
acqusition
of the related assets and is not amoitisied
over the life of the assets.
Any specific restrictions
imposed
by the grant
making
body, beyond use by the
charity for the purposes
of it's normal charitable
activgies,
on use of the assets,
is disclosed
in the Fixed Assets notes.
Depreciation Depreciation
is provided
on all tangible
fixed assets at rates calculated to write
off the cost on a reducing
balance method over their expected
useful economic
lives as follows:
Freehold
property
and refurbishments
at varying
rates on cost
Plant and machinery
at varying
rates on cost
Outdoor construction
at varying
rates on cost
INCOttE AND ENDOWMENTS
Recognltlon of Incoming Income from grants,
legacies, donations.
appeals,
fundraising
and investments		 is
resources recognised
in the Statement
of Financial Activities
(SOFA) on receipt pmviding
there are no conditions
that would vith hold payment
outside of the chaiYites
control
including
receipts
which are subject to restrictions
because potential
withholding
is In control of the charity.
Incoming resources with Where incoming
resources
have significant
related expenditure
(as with
related expenditure fundraising
or contract income) the incoming
resources
and related expenditure
are reported gross
in the SOFA.
Rental income is reported
net of collection
charges
on a receivable basis.
Grants and donations Grants and donations
are only included
in the SOFA when the charity has
unconditional
entitlement
to the resources.
Tax reclaims on donations Incoming
resources
from tax reclaims are included
in the SOFA at the same time
and gifts as the gift to which they relate.
Contractual Income and This is only included
in the SOFA once the related goods or services have been
performance related grants delivered.
Gifts in kind Gifts in kind are accounted
for at a reasonable
estimate
of their value to the
charity or the amount
actually
realised.
Gifts in kind for sale or distribution
are included
in the accounts as gifts only
when sold or distributed
by the charity.
Gifts in kind for use by the charity are included
in the SOFA as inconing
resources
when receivable.
Donated services and These are only included
in incoming
resources
(with an equivalent
amount
in
facilities resources
expended)
where the benefit to the charity is reasonably
quantifiable,
measurable
and material.
The value placed on these msources
is the estimated
value to the charity of the service or facility received.
Volunteer help The value of any voluntary
help received
is not included
in the accounts
and is
described
in the Trustees
Annual
Report.
~ '
~
Note 2 Accounting policies (continued)
EXPENDITURE AND UABIUTIES
Liability recognition Liabilities
are recognised
in the SOFA on an accruals basis as soon as there is		 a legal
or constructive
obligation
committing
the charity		 to pay out resources.
VAT VAT which cannot be recovered
is included
with		 the expense to which
it relates.
Taxation As a registered
charity, the company
is exempt		 from income and corporation
tax to
ths extent that income and grants ars applicabls to charitable
purposes
only.
Governance costs Include costs ol the preparation
and examination		 of statutory
accounts,
the costs of
trustee
meetings
and costs of any legal advice		 to trustees
on governance
or
constitutional
matters.
Resources expended
are allocated to particular		 activities where the cost relates
directly to that activity.
Grants with performance Where the charity gives a grant with conditions for its payment
being a specific		 level
conditions of service or output to be provided,
such grants		 are only recognised
In the SOFA once
the recipient of the grant has provided
the specified service or output.
Grants payable without These are only recognised
in ths accounts
when		 s commitment
has been made		 and
performance conditions there are no conditions
to be met relating to the		 grant which remain
in the control of
ths charity.
Support costs include
central functions
and have been allocated to activity cost
categories
on s basis consistent
with the use of resources, e.g. allocating
property
costs by floor areas, or per capita, staff costs by the time spent and other costs by
their usage.
Funds held by the charity Funds
held are either:
Unrestricted
general
funds —these are funds which can be used
in accordance		 with
the charitable
objects at the discretion
ofthe Trustees
Designated/restricted
funds —these are funds which can only be used for particular
purposes
within the objects of the charity.
Restrictions
ariss when specified
by		 a
donor or when funds are solicited on the explicit understanding
that they
will be
applied to particular
restricted purposes.

Total last Total last
Analysis funds Income
funds		 year year
6 6 6 6
Donations and
Legacies Capital grants 617,797 617,797 542, 173
Revenue grants 21 784 21,784 18,787
Total 21 784 617797 639581 560 960
Charitable
Activities		 Donations received 3087 3087 4 498
Gift aid 188789 188789 987
Total 191876 191 876 5 485
Investment income Income from trading subsidiaries 132332 132332 145 967
Gain on Investment (Restricted Fund) 3 846 4,468
Bank interest 4728 4 726 1 343
Total 137058 3846 140904 151 778
Other incoming
resources Rental income 7,594 7 594 10 107
CJRS (Furlough) grant income 13368 13,368
Total 20 962 20 962 10 107
Total Income (See SOFA) 371,680 621 643 993323 728 330

This year Last year
Number Number
Fundraising
Charitable Activities
Governance
Other
Total

Freeludd Plant and Outdoor Total
property machinery construction
8
Balance brought forward 1 151998 177003 69988 1 398 989
Transfers
Additions 1 050,287 1 385 1 051 671
Revaluations
Disposals
Balance carried forward 2202285 178388 69988 2450 660

$.2 Accumu lated depreciation
and		 Impairment
provisions
Freehold Plant and Outdoor Total
property machinery construction
Balance brought forward 248 153 172,250 63647 484 050
Depreciation charge for year 20 900 4 231 1 826 26 957
Impairment provisions
Revaluations
Disposals
Balance carried forward 269053 176 1 85 4'73 511007
LS Net book value
Brought forward 903845 6 341 91493$
Carried forward 1 933232 1$06 4 515 1 939853

Shares in Usted Total
group irwestments
undertakings
148 089 148091
3,846 3,846
2 668 2 668
Balance carried forward 154 603 154605
Brought forward 148 089 148091
Carried forward 1 603 154605

Amounts
falling		 due within Amounts falling due after falling due after
one year more than one year
This year Last year This year Last year
368,758 236,437
41 51
368,799 236,488

Amounts
falling		 due within Amounts falling due after falling due after
one year more than one year
This year Last year This year last year
345 000
88,212
361,720 220 825
1 075 2,507
796,OO7 223,332

EHDC - Maintenance EHDC - Maintenance Grant for landscape
maintenance
over 5 yearn
EHDC - Improvement Grant for landscaping
improvements
(frontage		 and car park)
WstherDown Lodge 2 Donations
from various sources towards
New		 Learning Centre
Transfers between funds
Reason for transfer Amount (E)
This fund was kept
in an investment
fund,
Not		 all 2,400
Between unrestricted and restricted funds income was required
for the site management		 and burial
commitments.
In line with the accounting
policy for Assets; Capital		 1,050,287
Grants s one off transfer was made from restricted to
Between restricted and unrestricted funds unrestricted
funds
on capitalisation
of expenditure		 in
relation to WetherDown
Lodge 2 (New Learning		 Centre)
Between unrestricted and designated funds Operational
Costs have decreased,
therefore
months
reserves
have also decreased.		 the 2 13,026
Between unrestricted and designated funds These funds have been chosen to be designated
trustees
and
will be used on excpetional
items		 by ths 187,500
Designated funds
Pu
ose ofthe desi
nation		 Amount
These funds are held in accordance
with our policy		 to 57,024
General Reserves hold 2 months
operational
costs in reserve to		 ensure
financial
and o erstional
stability.
These funds ars held following a decision by the 187,500
trustees to ensure
any exceptional
items can		 be mst.
Gift Aid on NLC Donation The funds arose from a gift aid claim on a large
donation
in respect of the new learning
centre

Note 14
Related Party Tran		 Note 14
Related Party Tran		 sacfions sacfions sacfions
Balance outstanding
to Earthworks		 Foundation Limited:
Opening
balance (01/01/20)		 5220,824
Plus: Committed
Donations
to		 Foundation in year 6129,226
Less: Cash Transferred
During		 the Year &11670
C(osing Balance (31/12/20) 6361,720
Balance outstanding
from South Downs		 Natural Burial Limited:
Opening
balance (01/01/20)		 5235,593
Donations
from SDNB Limited		 in year 5132,332
Less: Cash Transferred
During		 the Year 612
Closing Balance (31/12/20) 9367,913
Balances outstanding
from Wood4Heat		 Limited:
Opening
balance (01/01/20)		 5845
Donations
in year		 50
Closing Balance (31/12/20)
Note 15
Ultimate
Controlling		 Party