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← Cumbria Waste Management Environment Trust

2025-03-31-accounts

Company registration number 04282827 (England and Wales)

Charity registration number 1090965 (England and Wales)

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr P M Younger
Mr S Trotter
Mr N McNulty (Appointed 24 May 2024)
Key management personnel Mrs H C Squires
Country of incorporation United Kingdom 04282827
(England and Wales)
Charity registration England and Wales 1090965
Registered office Unit 5A
Wavell Drive
Rosehill
Carlisle
Cumbria
CA1 2ST
Auditor Saint & Co.
Sterling House
Wavell Drive
Rosehill
Carlisle
CA1 2SA
Bankers Cumberland Building Society
Cumberland House
Cooper Way
Parkhouse
Carlisle
CA3 0JF
Penrith Building Society
7 King Street
Penrith
CA11 7AR
Solicitors Burnetts Solicitors
Victoria House
Wavell Drive, Rosehill Industrial Estate
Carlisle
Cumbria
CA1 2ST

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

CONTENTS

Page
Trustees' report 1 - 5
Statement of trustees' responsibilities 6
Independent auditor's report 7 - 10
Statement of financial activities 11
Statement of financial position 12
Notes to the financial statements 13 - 25

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Cumbria Waste Management Environment Trust (CWMET)'s objectives are:

The protection, preservation and improvement of the environment for the benefit of the public and the advancement of the education of the public in matters concerning the environment, its conservation and protection.

In furtherance of the above objects the company has the following powers:-

a) To promote, undertake, fund and assist the reclamation, remediation, restoration or any other operation intended to facilitate the economic, social or environmental use of land where such use has previously been prevented or restricted because of the carrying on of an activity on the land which has now ceased.

b) To promote, undertake, fund and assist any operation intended to prevent or reduce any potential for pollution or to remedy or mitigate the effects of any pollution of land which may be, is being or has been polluted by the carrying on of an activity on the land which has now ceased.

c) To promote, undertake, fund and assist research and development, education or collection and dissemination of information about waste management practices and the development of products from waste or markets for recycled waste and to encourage the use of more sustainable waste management practices and the development of products and markets from recycled waste PROVIDED ALWAYS that the results of research shall be made publicly available. (This objective is now closed to applications due to Entrust rule changes)

d) To promote, undertake, fund and assist the provision, maintenance or improvement of public parks or other public amenities, provided that it is for the protection of the environment, and the maintenance, repair or restoration of buildings or other structures open to the public and which are places of religious worship or of historic or architectural interest, provided it is for the protection of the environment.

e) To promote, undertake, fund and assist the protection of the environment by the conservation or promotion of biological diversity through: (a) the provision, conservation, restoration or enhancement of a natural habitat; or (b) the maintenance or recovery of a species in its natural habitat, on land or in water

Landfill Communities Fund Grant Scheme (Formerly the Landfill Tax Grant Scheme - LTGS)

The Government introduced a new tax in October, 1996, known as Landfill Tax. Operators of registered sites are required to collect and pay Landfill Tax to HM Revenues & Customs. The tax was introduced to offset the environmental impact of landfill and aims to encourage more sustainable waste management practices, including recycling. The scheme also aims to deliver long lasting environmental and community benefits.

Registered as an Environmental Body in 1999, CWMET was established in order to distribute Landfill Tax generated by Cumbria Waste Management and Lakeland Waste Management. During April 2024 to March 2025 they have contributed the maximum credits allowable.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Activities

CWMET's principal activity is acting as a grant distribution body funding projects within the former local authority areas of Carlisle, Eden, and Allerdale providing the project is within 10 miles of an active tax paying landfill site. The grants are open to all Parish Councils, Community Groups or organisations, which are non-profit distributing bodies and not under Local Authority Control. They must have a constitution that allows them to support CWMET's objects.

CWMET received funding during the year from Cumbria Waste Management and Lakeland Waste Management (subsequently renamed Seletia (F) Limited) and, following a transfer of the Hespin Wood landfill site, through Cumbria Land Management Limited (subsequently renamed Seletia (HW) Limited) and is a Distributive Environmental Body within the terms of the Landfill Communities Fund.

Grant making policy

Landfill Communities Fund Grant Scheme (LCFGS)

It is possible that CWMET will not be able to provide grants for all potential eligible applications. CWMET therefore reserves the right to prioritise applications to achieve best value for money. This will be done using a scoring system based on the answers to questions in the application form.

Every project must be within a 10 mile radius of either Hespin Wood or Flusco Pike Landfill sites. Under certain guidelines applications may be considered if they are 10-15 miles from the two landfill sites we receive donations from. Confirmation of eligibility can be obtained by calling the CWMET office.

The rate of a grant will normally be up to 80% of project costs, up to a maximum of £50,000.

Achievements and performance

Significant activities and achievements against objectives

Since inception in 1999, and up to the 31st March 2025, CWMET has allocated funds to 1,077 (2024: 1,069) projects and awarded £10.436m (2024: £9.813m) in Landfill Community Fund grants levering in further grants, community money and in kind support into the Cumbrian economy. Prior to 1999 Cumbria Waste Management awarded £1.5 million to projects. The total donated via the LCF scheme since 1996 is therefore in the region of £11.936 million.

The CWMET Trustees continue to give priority to projects in a 10 mile radius of both Hespin Wood and Flusco landfill sites. Consideration will be given to projects in a 15 mile radius of these sites if there is a second tax paying landfill site within 10 miles. CWMET staff will check eligibility of a project if you contact the office.

The total paid out in 2024/2025 was £606,711 to 11 projects. CWMET awarded £625,940 of funding to 8 different projects across Cumbria during the financial year. The projects ranged from improvements to village halls and community centres, sports facilities, new play areas and churches.

Landfill Operators continue to be allowed to claim and donate 5.3% of the annual landfill tax bill to a registered Environmental Body.

HMRC advice is that management costs for running an Environmental Body should not exceed 7.5% of annual grant payments and CWMET was within this in 2024/25 as completion of projects increased. As income is projected to fall over the long term as waste to landfill reduces Trustees are committed to operate as cost efficiently as possible recognising limited scope to reduce management costs.

Financial review

During the year, the principal funding sources were donations from Cumbria Waste Management Ltd £393,900 (2024: £238,076) and Lakeland Waste Management Ltd £125,936 (2024: £98,222) - these figures are before adjustments for accrued income. The trust has paid out grants of £606,711 (2024: £248,537) during the year in accordance with its objectives.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Reserves policy

The Trustees operate a reserves policy that notionally keeps £40,000 in true reserves with any remaining unspent and unallocated amount being available to allocate over and above the annual grants budget to projects they wish to support. The £40,000 is kept as a reserve to cover up to two years of administration costs in order to ensure that all grant money is allocated and spent should the source of the grants money no longer be available or at a viable level to run the LCF scheme. The reserves policy includes the cost of redundancy, redundancy counselling, retraining courses, and the costs of winding down the Charity. The winding down of the Charity costs include legal fees, accountancy fees and final audit fees as well as public advertising of the Charity situation. The reserves policy is checked annually by both the CWMET Trustees and by Entrust the government regulator.

The reserves of the charity are £683,116, this includes restricted funds allocated for grants awarded of £494,664 and restricted funds not yet allocated of £188,452. The charity also has unrestricted funds of £1,822.

Investment policy

The Trust's investment powers are set out in the Trust Memorandum of Association, clause 3(k), which reads:'To invest the monies of the Company not immediately required for the furtherance of its objects in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions (if any) and such consents (if any) as may for the time being imposed or required by law.'

The Trustees believe in making ethical and local investments. The current account is held with the Cumberland Building Society. Other passbook accounts are held with two local Building Societies, the Cumberland Building Society and the Penrith Building Society, and earn a higher rate of interest.

Major risks

The trustees have produced a Statement of Recommended Practice (commonly known as SORP). This is a risk assessment detailing risk, actions to mitigate those risks and further actions needed. The trustees consider that the major strategic, business and operational risks to which the Trust is exposed have been identified and the Trust has systems in place to minimise or manage those risks. This is an on-going process rather than a one-off action and policies are reviewed annually and updated.

Plans for future periods

Applications will continue to be accepted that are within a 10 mile radius of Hespin Wood or Flusco Pike while Landfill Operators continue to make contributions under the Landfill Communities Fund. Consideration will be given to projects that are 10 -15 miles from Hespin Wood or Flusco Pike when other rules are met. Please enquire if you feel you have an eligible project.

The Trust continues to be based at Unit 5a Wavell Drive, Carlisle. The office is staffed part time by 2 members of staff, and whilst our income, and thus our activity, is reduced, our commitment to funding community based environmental projects remains as strong as ever.

The Trustees will consider staffing levels in view of costs and suitable cover. The move to having two staff members is to reduce the reliability on one staff member.

The Trustees intend to continue to operate with two grant rounds per year to manage administration costs. There are two grant closing dates, June with a decision in August and December with a decision in February.

At each Trustee meeting grants will be awarded based on available funds in the bank account less allowances for core costs and winding up fees. Application enquiries continue to increase as community groups are able to look at projects and obtain estimates.

Structure, governance and management

Cumbria Waste Management Environment Trust (CWMET) became a registered charity on 6th March 2002. It is also a company limited by guarantee and therefore has a Memorandum and Articles of Association as its governing document. The Company was incorporated on 6th September 2001. From April 2012 all staff had sole contracts of employment with CWMET.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms S Donnell (Resigned 22 August 2024) Mr P M Younger Mr S Trotter Mr N McNulty (Appointed 24 May 2024)

Recruitment and appointment of trustees

An appropriately skilled person is invited by the trustees to join CWMET Board when the Board members identify a need.

On appointment trustees are provided with a pack of information including:

They are given the opportunity to spend some time with the staff either at the office or on visits to new and completed projects.

Trustees Remuneration and Expenses

The cost of trustee indemnity and employees liability insurance charged for the year was £516.48. There were no travel expenses for Trustees 2024/2025.

Organisational structure

Applications come in the first instance to the CWMET staff, whose role it is to manage the Landfill Communities Fund Grant Scheme. The application is looked at to ensure all the supporting evidence and documentation is present and a project summary produced. If the project is potentially eligible it is submitted to the Grant Advisory Panel. The Grant Advisory Panel has a maximum of 10 members and a minimum of 5 and is made up of people from various organisations and interests. The panel appraises the applications and make recommendations on the projects that should be supported, deferred or rejected, working within budget constraints set by the trustees. These recommendations are then presented to the Trustees who ultimately make the decisions on grants allocated etc.

The Grant Advisory Panel convenes twice a year in July and January and the Board of Trustees meet in August and February.

Once an allocation of a grant has been made by the Trustees, those projects applying for Landfill Communities Fund money are then submitted to Entrust, the government regulator of the scheme, for registration as eligible expenditure.

Since 1999 the CWMET's Trustees have set down a variety of policies and procedures, within which the CWMET staff work, as well as those given by ENTRUST who regulate the scheme. Any applications that depart from these policies and procedures or new concerns/risks/requests have to go to the Trustees for approval. Once agreed and minuted it is up to the staff to implement the policies and procedures and liaise with the grant recipients and applicants on a day to day basis.

The CWMET staff since September 2023 comprises of a Grants Manager (14 hours per week) and Financial/Administration Officer (7 hours per week) It is CWMET's aim to keep management and administration costs to a minimum whilst continuing to deliver an efficient and compliant service to the charity and wider Cumbrian economy.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Remuneration of Key Management Personnel

The directors consider the board of directors, who are the Trust's trustees, and the Grant Manager comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the Trust on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in notes 10 and 22 to the accounts.

The pay of the Grant Manager and Financial/Administration Officer is reviewed annually in April and is normally increased taking into consideration inflation and average earnings increases. In view of the target of ensuring management costs are at less than 7.5% of grants paid, the hours worked by the Grant Manager are also reviewed annually. The Grant Managers remuneration does not exceed £60,000.

Relationship with wider network

ENTRUST

ENTRUST is the Government regulator of environmental bodies for the Landfill Communities Fund. ENTRUST enrols, monitors and audits environmental bodies who receive money for projects from landfill operators, and ensures that they meet the Landfill Tax regulations.

Auditor

In accordance with the company's articles, a resolution proposing that Saint & Co. be reappointed as auditor of the company will be put at a General Meeting.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' report was approved by the Board of Trustees.

..............................

Mr P M Younger

Trustee

Date: .............................................

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors of Cumbria Waste Management Environment Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

Opinion

We have audited the financial statements of Cumbria Waste Management Environment Trust (the ‘trust’) for the year ended 31 March 2025 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

In addition, we certify that Cumbria Waste Management Environment Trust has:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

Saint & Co.

Chartered Accountants & Statutory Auditor

......................... Sterling House Wavell Drive Rosehill Carlisle CA1 2SA

Saint & Co. is eligible for appointment as auditor of the trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2025
2025
2025
2024
2024
Notes
£
£
£
£
£
Income from:
Donations and legacies
3
-
455,759
455,759
-
399,853
Investments
4
-
14,425
14,425
-
7,969
Total income
-
470,184
470,184
-
407,822
Expenditure on:
Charitable activities
5
-
652,197
652,197
3,000
286,370
Total charitable
expenditure
-
652,197
652,197
3,000
286,370
Net income/(expenditure) and
movement in funds
-
(182,013)
(182,013)
(3,000)
121,452
Reconciliation of funds:
Fund balances at 1 April 2024
1,822
865,129
866,951
4,822
743,677
Fund balances at 31 March 2025
1,822
683,116
684,938
1,822
865,129		 Total
2024
£
399,853
7,969
407,822
289,370
289,370
118,452
748,499
866,951

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
The funds of the trust
Restricted income funds
17
Unrestricted funds
18		 2025
£
82,871
612,479
695,350
(10,730)		 £
318
684,620
684,938
683,116
1,822
684,938		 2024
£
146,897
730,606
877,503
(11,507)		 £
955
865,996
866,951
865,129
1,822
866,951

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................

..............................

Mr P M Younger

Trustee

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Cumbria Waste Management Environment Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 5A, Wavell Drive, Rosehill, Carlisle, Cumbria, CA1 2ST.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Grants awarded to applicants are provided for when all performance conditions relating to the grant are met. Other expenditure are accounted for on an accrual basis.

Support costs comprise costs for processing grants and applications and costs incurred in support of charitable activities. Resources expended for the management and administration of the charity represent the cost of managing the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Fixed assets costing less than £300 are not capitalised, but written off to the Statement of Financial Activities as incurred.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 5 years straight line Computers 2 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.9 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11 Contingent liabilities

Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the charity's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Restricted Restricted
funds funds
2025 2024
£ £
Donations and gifts 455,759 399,853
Donations and gifts
Contributions received 455,759 399,853
455,759 399,853

4 Income from investments

Restricted Restricted
funds funds
2025 2024
£ £
Interest receivable 14,425 7,969

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Expenditure on charitable activities

Project Project
expenditure expenditure
2025 2024
£ £
Direct costs
Grant funding of activities (see note 6) 606,711 248,537
Share of support and governance costs (see note 7)
Support 24,042 25,162
Governance 21,444 15,671
652,197 289,370
Analysis by fund
Unrestricted funds - 3,000
Restricted funds 652,197 286,370
652,197 289,370

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Grants payable

Project
expenditure
2025
£
Grants to institutions:
Moorhouse Play Area and Community Seating 16,500
Warwick Bridge Cornmill Headrace Habitat - Cultura 8,965
Great Orton Play Area Renewal 11,000
Cargo Park Play Area 24,200
Cumwhitton Community Field Drainage 23,556
Gt Corby Village Hall 12,490
Christ Church Masonry Repairs - Penrith 10,000
Threlkeld Community Play Area 20,000
Appleby Jubilee Play Area 30,000
Scotby Village Hall roof renewal 50,000
Purchase of Skiddaw Forest 400,000
606,711
Project
expenditure
2024
£
Grants to institutions (8 grants):
Head Nook Play Area 4,816
Castle Park Tennis Relocation 50,000
Great Orton Play Area Renewal 36,971
Carlisle Sports Function Room 27,750
STMH Centinary Refurbishment Phase 1 40,000
Newbiggin Village Hall Roof Enhancement 50,000
Lacy Thompson Hall - Hallbankgate - Jubilee Garden 3,000
Border Kirk Boiler Project 6,000
Threlkeld Play Area 30,000
248,537

The grants payable to environmental bodies and other institutions are the same charitable activity. Therefore support costs are shown entirely against project expenditure.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Grants payable

(Continued)

Reconciliation of grants payable

Reconciliation of grants payable
2025 2024
£ £
Commitments at 1 April 484,863 324,418
Grants awarded in year 625,940 428,150
Grants paid in year (606,711) (248,537)
Grants withdrawn (9,428) (19,168)
Commitments at 31 March 494,664 484,863

All grants were awarded to institutions and none to individuals.

7 Support costs allocated to activities

Project
expenditure
2025
£
Staff costs
21,614
Depreciation
637
Premises costs
1,200
Other office expenses
937
Travel expenses
-
Governance
21,443
45,831
2025
Governance costs comprise:
£
Audit fees
1,580
Accountancy
2,460
Legal and professional
2,016
Entrust fees
15,387
21,443		 Total
2024
£
20,773
318
2,400
770
900
15,672
40,833
2024
£
2,016
1,465
676
11,515
15,672

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements 1,580 2,016
- for other financial services 1,570 1,465
Depreciation of owned tangible fixed assets 637 318

9 Trustees

The Trustees are reimbursed for their expenses to attend the Trustees' meetings. These expenses were paid to no trustees in the year (2024: nil) and amount to £nil (2024: £nil). The trustees are not entitled to receive, and do not receive, any remuneration for their services to the charity.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
2 3
Employment costs 2025 2024
£ £
Wages and salaries 19,439 18,765
Other pension costs 2,175 2,008
21,614 20,773
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 17,705 18,889

The aggregate compensation includes employers national insurance which is not paid by the charity due to claiming Employers Allowance.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Transfers

The transfer between the two restricted funds is for expenditure incurred in the year relating to allocated creditors at the start of the year.

13 Tangible fixed assets

Fixtures and
fittings
£
Cost
At 1 April 2024
111
At 31 March 2025
111
Depreciation and impairment
At 1 April 2024
111
Depreciation charged in the year
-
At 31 March 2025
111
Carrying amount
At 31 March 2025
-
At 31 March 2024
-
14
Debtors
Amounts falling due within one year:
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Accruals and deferred income		 Computers
£
2,717
2,717
1,762
637
2,399
318
955
2025
£
82,871
2025
£
-
10,730
10,730		 Total
£
2,828
2,828
1,873
637
2,510
318
955
2024
£
146,897
2024
£
10
11,497
11,507

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 2,175 2,008

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

17 Restricted funds

At 1 April 2024 Incoming Resources TransfersGains and losses TransfersGains and losses At 31 March
resources expended 2025
£ £ £ £ £ £
-
Landfill -
Unallocated 380,909 470,184 (45,486) (617,155) - 188,452
Landfill -
Allocated 484,220 - (606,711) 617,155 - 494,664
865,129 470,184 (652,197) - - 683,116
Previous year: At 1 April 2023 Incoming Resources TransfersGains and losses At 31 March
resources expended 2024
£ £ £ £ £ £
- - - - - -
Landfill -
Unallocated 422,729 407,822 (40,660) (408,982) - 380,909
Landfill -
Allocated 320,948 - (245,710) 408,982 - 484,220
743,677 407,822 (286,370) - - 865,129

Restricted funds relate to landfill tax receipts which can only be used for compliant expenditure on eligible projects and support costs relating to projects under the landfill tax regulations.

The company has £494,664 (2024: £484,220) of outstanding allocated funds relating to projects awarded both in the current and in prior years. This money has been allocated for specific approved projects and will be paid out in due course.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2024 Resources At 31 March
expended 2025
£ £ £
General funds 1,822 - 1,822
Previous year: At 1 April 2023 Resources At 31 March
expended 2024
£ £ £
General funds 4,822 (3,000) 1,822

Designated - Allocated Projects fund relates to projects that have been approved and awarded and will be paid out of unrestricted funds in due course.

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
318
-
Current assets/(liabilities)
1,504
683,116
1,822
683,116
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
955
-
Current assets/(liabilities)
867
865,129
1,822
865,129		 Total
2025
£
318
684,620
684,938
Total
2024
£
955
865,996
866,951

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Interest in other assets

The trust has an interest in the following assets. The assets are not reflected in the balance sheet of the trust.

Asset Trust Date Purchased Period of Interest Cost CWMET Contribution Lunesdale United FC Pitch 02.04.2007 In perpetuity £15,000 £7,000 02.04.2007 Great Salkeld Village Green 28.02.2006 In perpetuity £25,000 £20,000 28.02.2026 Great Musgrave Field Project 08.06.2005 In perpetuity £15,000 £7,500 08.06.2025

The contribution towards these assets was made in the normal project expenditure. CWMET's interest in all of these assets will remain in perpetuity.

21 Contingent liabilities

The charity has awarded several grants prior to the year end, which have not yet met the performance related conditions attached to them. The liability is therefore possible but not probable. The estimate of the grants due to be paid out within the next year, based on grants awarded is £494,664 (2024: £484,863).

A transfer has been made to the restricted fund "Restricted Landfill - Allocated" to bring this designated pot in line with the estimated value of the commitment.

CUMBRIA WASTE MANAGEMENT ENVIRONMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

22 Related party transactions

During the year Cumbria Waste Management Environment Trust (CWMET) awarded no grants (2023: no grants) to Cumbria Wildlife Trust Limited for £nil (2023: £nil) separate projects. Adrian Banford is a trustee of both CWMET and Cumbria Wildlife Trust Limited. Adrian Banford was not involved in any of the decision making regarding the award of the grants.

The projects were as follows:

Community Seed Bank: £45,715 awarded in 2022, £35,000 paid in the prior year so £10,715 outstanding at the year end.

During the year Cumbria Waste Management Environment Trust (CWMET) awarded no grants (2023: one grant awarded) . The prior year grant was awarded to Cultura Trust for a project. Adrian Banford is a trustee of both CWMET and Cultura Trust. Adrian Banford was not involved in any of the decision making regarding the award of the grant. The grant awarded in the prior year was for £8,965, this amount was still outstanding at the year end.