TEESSIDE ENVIRONMENTAL TRUST ANNUAL REPORT 2024 Purpose of Report To describe the actions and achievements in 2024 of TET and to consolidate and build on these achievements in future years. Teesside Environmental Trust is a company limited by guarantee (company number 3438389) and it is also a registered charity (10933271. It is governed by its Memorandum of Association (dated 20 th February 20231 and Articles of Association (dated 20th February 2023) both registered with the Charity Commission. Summary of Activity in 2023 1. 2023/2024 had been another successful year for Teesside Environmental Trust ITET). Our primary focus has remained with Saltholme Nature Reserve where we continued financial support for our partners the RSPB (Royal Society for the Protection of Birds) who are in their fifteenth year of operation at Saltholme. The re5errfe welcomed its I,000,O(X)th visitor in March 2024. 2. RSPB Saltholme was visited by 62.585 people during the fiscal year, a 26% improvement on the previous year. RSPB Saltholme was awarded a Visit England Welcome Award in 2023124 and 3,115 school children visited during the 2023/24 academic year. Teacher satisfaction leve15 were at an all-time high. 3. With continued financial support from Teesside Environmental Trust the reserve saw further improvements and development of projects such as the creation of additional wet grassland habitat. The new boardwalk, giving visitors access to the dragonfly pools (created by TET funding in 2019), was off icially opened on 24 May 2023. The upgraded play area was reopened on l April 2023. 4. The annual number of visitors to the reserve for the full calendar yearjanuary to December 2022 was 59,829. For the 'accounting' year April 2023- March 2024 the number was 62,585. 5. We have been collaborating with other partners on associated nature conservation and enhancement schernes, including the planned habitat creation of extensive wetlands on the southern boundary of Saltholme to regenerate the environs of Holme Fleet and reduce tidal flood risk and increase flood resilience to our neighbours. Our principal partners in this major project are Stockton on Tees Borough Council and the Environmental Agency, with projected completion in 2026. 6. Our only marine seawater estuary boundary frontage with the River Tees is the North Tees Nature Park on the north shore of the River Tees. We are actively working with suitably
qualified specialist consultants to provide drawings and specifications to presenie and enhance calcareous slag grassland, to remove invasive natural species such as sea buckthorn and create two of the rare intertidal Tees habitats. 7. TET have commission a wrought iron gate by Architectural blacksmith Brian Russell at the entrance of the Beardshaw garden at Saltholme reserve to commemorate 25 years of TET. 8. A donation payment of £506279.49 Landfill Tax Credit5 was gratefully received from our long-term partner and supporter Augean in the period I, January to 31" December 2023 through the agreement the Trust has with the company. £30591.12 of the credits {TET's 'restricted funds,) were used to support the activities nature related for the benefit of Saltholme and the wider environment. Develop a pipeline of approved projects Future activity of Teesside Environmental Trust North Tees Nature Park projects Main Actions to be Undertaken in 2024 The major emphasis in 2024 will be to: Support the RSPB in implementing the five-year management plan for the reserve. Develop a pipeline of projects that will be implemented to both increase the offer to visitors and the value of the site to nature conservation. Support the efforts to bring in sustainable sources of funding to enable financial security in future activity at RSPB Saltholme. Monitor the performance of operations at Saltholme and make suggestions to the RSPB for improvements from personal experiences and by the strategic monitoring of key performance indicators. Increase visitors at RSPB Saltholme for the public to enjoy the nature reseNe and appreciate nature conservation. Continued development of the Tees Tidelands Port Clarence and Tees Tidelands Nature Park projects. Progress negotiations with three external partners to secure additional opportunities for nature conservation and habitat conservation. Finance Accounts Details of the Trust's income and expenditure in 2023 are contained in the annual accounts filed with the charity commissioner. There was a balance in the Trust's accounts of £653,652.95 th unrestricted funds and £851,111.86 restricted funds on 4 April 2024. The income from the Landfill Communities Fund is shown in the accounts as restricted because it can only be spent on approved projects under the Landfill Tax Regulations 1966. The accounts have also been prepared in accordance with the Charity Commission's regulations. The recommended accounting practice for charities includes the requirement for a statement of the chariV5 financial reserves. This has been introduced to discourage charities with large financial reserves from raising money faster than they can spend it. Teesside Environmental Trust maintained
reserves in 2023 consistent with its responsibilities for the management of the charity and to discharge its funding agreement with the with our partners. Public Benefit The Charities Act 2006 places a duty on charities to demonstrate a clear public benefit. The two key principles of public benefit are defined as {al there must be one or more identifiable benefits and (b) these must be provided to the public or a section of the public. The Trust's two main objects have been to create and maintain a nature resenie of international importance at Teesside and to create a visitor centre open to the public. In conjunction with RSPB, the Trust is achieving its objectives, but it needs to ensure that the initial volume of visitors is sustained and grows. The nature reser¥e opened to the public on 21" January 2009 and formally opened on 6 March 2009. The aim is to encourage as many members of the public as possible to visit Saltholme to maintain a level of 100,OC() visitors per annum. To reach this goal, the Trust and RSPB have designed the nature reserve to be especially family-friendly, have prepared a Marketing Action Plan, and will be working with a wide range of other interest groups and local communities to encourage their involvement in the nature reserve. Charity Status: Risk Management There is a requirement on charities that.the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks. Trustees have a responsibility to keep these risks under review. The Chair of the Board, David Kitchen The Chair would like to note and thank Trustees for their continued commitment and provision of expertise all free of charge. Also, our partners for their dedicated 5UPPOrt and assistance to TET in achieving its objectives.
COMPANY REGISTRATION NUMBER: 3438389 CHARITY REGISTrATION NUMBER: 1093327 Teesside Environmental Trust Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 HIP HA E MANNER Chartered Accountants 384 Linthorpe Road Middlesbrough TS5 6HA
Teesside Envlronmental Trust Company Limlted by Guarantee Flnancial Stalements Year ended 31 March 2024 Page Trustees, annual report (incorporating th8 directors, report) Independent examinerfs report to the trustees Statement of linancial activities (including income and expenditure account) Statement of financial position Notes to the financial statements Th8 followlng pages do not form part ot the flnan¢lal siatements Detailed statement of tinancial activities Notes to the detailed statement of financial activities 18 19
Teesside Environmental Trust Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Directors, Report) Year ended 31 March 2024 The trustees, who are aL80 the directors lor the purposes Df company law, present their report and the unauditad financial statern8nts of th8 charity for the y8ar ended 31 March 2024. Relerence and admlnlstratlve d8talls Teesslde Envlronmantal Trust Raglslerod charlty name Charfty regl*lrallon number Company reglstratlon numbor 3438389 Prlnclpal offl 15 Sculptor Crescent Stockton TS18 3QR 1093327 Roglsterad offlc• 19 Yarm Road Stockton on Tees TS18 3NJ The tn885 D Kitchan K Hissitt P L Cornes C Shepherd R Drinkwater J Mann D J Morrls T Blanchard A Baker Borthwick J Woods (R8sned 31 August 2023) {Appointed 5 March 2024) (Appointed 6 September 2023) (Appointed 5 September 2023) {Served from 6 S&ptember 2023 to 5 March 20241 D Braithwaite Company Secrelary C Artley Independffil examlnor Graeme Boagey, FCA 384 Linthorpe Road Mlddlesbrough TS5 6HA
Teesside Environmental Trust Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) fcontlnu•d) Year ended 31 March 2024 Stiuctureg govomanco and manag•ment Organisational structure The charlty is constltuted as a limited ty guarantee company, without a share caprtal and is governed by it5 Memorandum and Articles of Association. Management The charity is managed on a day-trday basis by the Trust Administrator. The Trust Board is responslble for the overall direction and operation of the chartty. li meets lour tlmes a y8ar but thi8 is supplemented by other m88tings as r8qulred. Governance and inlernal contrd The Trust Board has reviewed the major rlsks to which the charfty is exposed and actions hav8 been taken to mitlgate those risks. Contaminated land insurance tog8ther wilh general insurances, have been takèn out. In view of chang8S tr> the previous Landlill Tax Credits Scherne. the charity has also secured fundlng from other sources to support the project. Objectives and acllvltlos Charitable Memonards Thè principal activity of the charity Is th8 development of the nature reseNe at a Site north of the Clarences, Sto¢kton-on-Tees. The chanty also protects and promotes ihe natural environment through the provision of nature r8serves, the managernènt ol habitats, the conservation of habitats species, th6 conservation ot the historic environment and th6 Pfovision of education on the naiural environment. Public ben8fit objectives In order to meet its objectives, the charity has incurred a larg8 arnount of éxpendlture on d6v8loping the site in order to protect Ihe environment. This has enabled a state ot the art wildlifa rgseNe and discovary park to be built which has been made availabl8 to Ihe general public. The trustees confirm that they have rèferred to tha guldance contained in the Charity Cornmission's general guidance on public bonefit when raviewing the Charws aims and objectives and in planning future conservation projects.
Teesside Envlronmental Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) (¢¥)nllnu) Year ended 31 March 2024 Achlevoments and performance Review ol activittes and achiavements 202312024 has been another successful year for Teesside Environmental Trust. Our primary focus has remained the Saltholme Nature Reserve, where we continued financial support for our partners, the RSPB. in thair management and development ol the reserve. This year landscaping wei grassland was und8rtaken by the RSPB to ralandscape both the wet grassland and Cowpen South. Both areas provide addÉtlonal wet areas for both wintertng and breeding waders. Also to provide better access to wheelchair users and Ihose using scooters a new iouch-button automated pedestrian gate was installed in tha anti-predator fence. Teesside Enwronmgntal Trust celebrated 25 years of success in April this year. To rnark this Memorable occasion a wrought iron gate was designed and built by Architectural blacksmith Brian Russell of Little Nèwsham Forge and arected in the Bearshaw Gardens at Saltholme. We have continued to collaborate with other partn8rs on associated nature conservation and enhancement schemes, including the planned Creatlon of exlensive wetlands on the southern boundary of Saltholrne to reganerate the environs of Holme Fleet ancl reduce tidal flood risk and create flood resilience for our neighbours In the Clarences communty. Our principal partners in this major project ar8 st(on on Teas Borough Council and the Environmental Agency, with projected cornpletion in 2026. All this has been achiev8d by consist8nt SUPFX)rt from truste88 and their endeavours Dn b&hall of the Trust. Flnanclal revl Financial posilion The accumulated funds * 31 March 2024 were £1,506.896 (2023: £883,910) and the charlty has adaquatè resources to meet expenditure as it falls due in th8 year commencing 1 April 2024. Réserves The charkty receives tax credit Income from a Landfill operator on an annual basls under legal agroements sign8d wlth the operator. This agreement Is set to last for several years. The scale of warks to be cafrled out and associated support costs are matched to the Landfill Gommunities Fund resources r8celved in the previous y&ar. Small company provlslons This report has been prepared in accordance wlth the provisions applicable to companies entitted to Ihe small companies exemption.
Teesside Envlronmental Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Directors, Report) (conllnu•dJ Year ended 31 March 2024 The trustees. annual report (incorporatlng the diractors, report) was approved on and signed on b8halt of th8 board of trustees by: fbloi170Z4 C Artley Secretary
Teesside Environmental Trust Company Limiled by Guarantee Independent Examlner's Report to the Trustees of Teesslde Environmental Trust Year ended 31 March 2024 I report lo the trustees on my axamination of the tinanclal statements of Toessldè Environmental Trust I'tha charity.) for the year ended 31 March 2024. Respon•lbllltleg and basls ol r•port As the Iru8te6s of thè company land also its dlrectors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wlth the requiraments of Iha Companies Act 2006 ('th8 2006 ACV). Having satistlad myself that the a¢¢ounts of the company are not requlred to ba audlted under Part 18 ot the 2006 Act and aro ellgible for Independent examination, I report in rsspect of my examination of the charity's accounts as carri8d out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Dlreciions given by thè Charity Cornmission under section 145(5llb) ol the 2011 Acl. Independenl •xamln•r'8 8t•iom•nt Since the charity's gross incom8 8xc8èded £250,000 your examlner must be a member ol a body Ilsted in sectlon 145 Df the 2011 Act. I conflrm thal l am qua1rf18d to undertake the examinalion because l am member ol the Institute ol Chartered Accountants in England and Wales IICAEW), which Is one of the Ilsted bodles. I have completed my 8xamlnatlon. I conflm that no matters have come to my attention In conn8cllon wlth the examlnalion giving me causé to b611ev8: accounting racords were not kept In respect of the charfty as requlred by sectlon 386 of th 2006 Act, or the financlal stalements do not accord with those records,. or th6 linancial statement8 do noi comply wlth tha accounllng requlrem8nts of sectlon 396 of the 2006 Act other than any requlrement that the accounts give a 'lrue and lair. view which is not mattor considered as part of an independent ex8mination-, or the financial Slatemonts have not b8en prepared in accordance wlth th8 methodB and prlnclples ol lh8 Szatement of Recommènded Practice lor accountlng and feportlng by charilies appllcable to charlti89 preparing thelr accounts in accordance wSth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102).
Teesside Environmental Trust Company Llmlted by Guarantee Independent Examiner's Report to the Trustees of Teesslde Envlronmentsl Trust (eonulw Year onded 31 March 2024 I hava no concerns and have corne across no other matt8rs in conn8Ctlon wSth the examlnation to whlch attenlion should bè drawn In thls raport In order to enable a proper undersL2nding of the accounts io be reached. Graeme Boagey, FCA Independènt Examlner 384 Llnthorpe Road Mlddlesbrough TS5 6HA 24 Tvly ILIL4
Teesside Environmental Trust Company Llmlted by Guarantse ststemenl of Flnanclal Activities (including income and expenditure account) Year ended 31 March 2024 2024 Reslricted funds Toial lunds Total funds 2023 Unrestricted funds No*• Incom• and •ndowment8 Voluntary incom8 Investmènt Income Other Incoming oUrCes Total In¢om• 506,279 8,203 506,279 15,058 219,883 741,020 339,500 2,377 229,172 6,855 219,683 226,538 514,482 571,049 Expgndllur• Expenditure on charitable activities Tot•1 expondlture (69,562) (69,562) {48,635> 1118,197) (593,921) (48,635> (118,197> (593,921) Nol In¢om81(oxpondllure) and n•t movomont In funds 156,976 465,847 622,823 {22,872) Reconclllallon of funds Total funds brought torward Total lund• ¢arrf•d I01rd 499,577 384,333 850,180 883,910 1,506,733 906,782 656,553 883,910 Th8 statèment ol flnanclal activlti@s Includes all gaing and108S88 recognlsed In the yaar. All Income and expenditura derlve Irom coniinulng actlvitles. Tho notas on pagej g to 16 forni pArt of Ihme Ilnanclal st•t•ments.
Teesside Environmental Trust Company Llrnlted by Guarantee Stalement ol Financial Posltion 31 March 2024 2024 2023 Not• Current assets Debtors Cash at bank and in hand 16 20,818 1,504,793 1,525,611 16,919 882,955 899,874 Credltors: amounis lalllng duo wlthln one yéar Net current assets 17 (18.8781 1,506,733 1,506.733 1,506,733 (15,964) 883,910 Total a38ets lesj Current Ilabllltlos Net ass•ts 883,910 883,910 Funds ol the charity Restricted funds Unrestricted funds 850,180 656,553 18 1,506.733 384,333 499,577 883,910 Tolal charlty lund8 For tha year ending 31 March 2024 the charity was entitl8d to exemption from audit undèr section 477 of the Companies Act 2006 relating io small companies. DireGtors' responsibilities: The memb8rs hav8 nol required the company to obtaln an audtt of its flnancial statements for the year in questson in accordance with section 476,. The directors acknowSedgo their responsibiltii8s for cornplying with the r8quirements ol the Act with respect to accounting fecords and the preparation ol financial staternents. These financial slatements hav8 been prepared in accordance with thg provlslons applicable to ¢ompaniaS subject to thè small compafties, regime. These financlal statements were approv8d by the board of trustees and authorised tor issue on , and are signed on behalf of th8 tard by.. Ib [01 IzoL4 D Kitchen Trustee The notss on p8gB• 9 to 16 lorm p•rt of thoso Ilnancl41 •tstemont*.
Teesside Environmental Trust Company Limited by Guarantee Notes to the Flnancial Ststements Year ended 31 March 2024 General Inlormntlon The charity is a public benefit entity and a private company Ilmlted by guarantee, reglstered In England and Wales and a registered clwity in England and Wales. The address of registered office is 19 Yarm Road, Stockton on Tees, TS18 3NJ. Statoment of compllance These financial statements have been prepared in compliance with FRS 102, Trie Financlal Reportlng Standard applicable in Ihe UK and the Republic of Ireland,, the Stalem8nt of Recornmended Practice applicable lo charlti8s preparing thelr a(xounts in ardance with the Financial Reporting Standard appllcabl8 in the UK and Rapublic of Ireland (FRS 102) (Charitles SORP (FRS 102)) and the Cornpanles Act 2008. Ac¢ounlln9 pollcles Ba818 of pr•parntlon Thè linancial statamènts have been prepared on the hlstorral cost basis, as rnodified by the r8valuation of certaln financial as58ts and liabililies and investment properties measured at fair value through income or expenditure. The flnancial stat8ments are prapared in sterting, whlch is the functIor1 currency of the entity. Golng concern There are no material uncertaintFes about the charity's ability to continue. Dlsclosure exomptlons Advantage has been taken of the following disclosure exemptlons available.. No cash flow Statement has been present1 for the company. Judgomenls and kèy sources of 6stlmallon uncertalnty The preparation of the linancial statements requires management to make judo8ments. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually r8view8d and are based on éxperience and other fac1ors, includlng expectations of future events that are b81ieved to ba reasonable under the circumstances. Fund accountlng Unrestricted lunds are available lor use at the discretion ol the trustees lo further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the tTUStees for partlcular futurft proj8¢t or commiimant. R6strieted funds are subjècted to T8strÈctions on Iheir expenditur8 declared by the donor or through the terms of an app8al, and fall into one of two sub-classes: re8cted income tunds or endowment furKJs.
Teesside Environmental Trust Company Limlted by Guaranteg Notes lo the Financial Ststements Iconllnuod) Year ended 31 March 2024 Accountlng pollcles (¢Mttnwd) Incomlng resourcas All incoming resources are induded in the slatement of financial activitiès when entitlement has passed to the chafity,. it is probable that the economic benefits associated with the transacts'on will flow to the charty and the amount can be reliably rneasured. The following specrfi¢ pollcies are applied lo particular cat8gories of income: income from donations or grants Is recognised when there13 evidence of entllement to the gift, receipt is probable and its arnount can be measured reliably. legacy Income Is recognised wh6n recelpt is probablo and entitlement is ostablEshed. Income from donated goods measured at the lair value of the goods unless this is Impractical to measure reliably, In which case the value is derived trom the cost to the donor or the estirnated resale value. Donated facilities and seNices are recognised In the accounls when raceived it the valua can be reliably measured. No arnounts are includad for th8 contrlbution of general volunteers. incorna from contracts for tha supply ol sèrvices is recognised with the delivery of thé contracted Service. Thls is classified as unrestricted funds unless there is a contractual raquirement for it to be spent on a particular purpose aNI returned rf unspent, In which case it may be regarded as restricted. Rgsourc8• expènded ExpendltUTe Is r8cognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully revered, and is classrfied urK*r headings of the statern8nt of financial actlvtties to whlch It relates: expenditure on ralsiTVJ funds includes th8 costs of all fundralsing activityos, events, non- charitable trading a1VitIes, and the salè ot donateLI goods. expendlture on charwle activltles Includes a51 costs Incurreofj by a charity in undertaking actlvttles that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relatlng to the gov8mance of the charity apportioned to charitable activities. other expenditur8 includes all expenditure that Is nellher related to raising funds for the charity nor part ol its expenditure on charitable activities. All costs are althated to exp8nditure categories r811eciing the use of the resource. Olrect costs attributable io a single activity are allocated directly to that activity. Shared costs are apportioned b8tween th8 activities they contribute io on a r8asonable, justlfiabla and conslstsnt basis. 10
Teesside Envlronmental Trust Company Limited by Guarantee Notes to the Financial Statements {conllnu•d) Year ended 31 March 2024 Accounllng pollcles fc¢Jnttm*d) Flnanclal In$trum•nt8 A financial asset or a financial liability is recognlsed only when the entty becomas a party to the contractual provisions ol the instrument. Basic financial instruments are inltially recognised al the amount receivable or payabl& including any relaled transaction cogts, unless the arrang8m8nt constitutes a financing transaction, where it is recognised at Ihe present value of the future payments discounted at a market rate of inter8St for a slmilar dabl Instrumont. Current assets and current liabilitles are subsequently Measured at tha cash or other considefatton &xpected to be paid or received and not tjiscounted. Llmlted by guarantee Teesside Environmerrtal Trust Is limited by guarante8 and accordingly doès not have share capilal. Every membar ol the company undertakes to contribut8 such amount as may be required not exce8dirKJ £1 to assets of the charitabl8 company in the event of its being wound up whilg he or shè Is a member, or wlthln one year after he or she ceases to be a rn8mber. Voluntary Incomo RestrFCted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Oonallons Landfill tax credit income - Augean 506,279 506,279 339,500 339,500 Inve8im8nl Income Unrestrlcted Funds Restricted Tol81 Funds Funds 2024 Income frorn UK invgstrnent propertles Bank inlerest receivable 8,203 8,203 15,057 15,058 6,855 Unrestricted Funds Rastricted Total Funds Fundg 2023 Income from UK investment propertles Bank interest receivable 1,378 1,378 2,376 2,377 11
Teesside Environmental Trust Company Llmlted by Guarantee Notes to the Flnanclal Statements fcontlnu•dJ Year ended 31 March 2024 Othor Incomlng ro8ource8 Unrestricted Total Funda Unrastricted ToLqI Funds Funds 2024 Funds 2023 Other income Adminislraiion income 218,751 932 218.751 932 203,134 26,038 229,172 203,134 26,038 229,172 219,683 219.683 8. Expondiiur• on chlrtlable actlvlll•J by fund type Unrostrlcted Funds Reslricted Total Funds Funds 2024 Charltable activitie8 Support cosis 63,817 5,745 69,562 47,703 932 111,S20 6,677 48,635 118,197 Unrestrlcted Funds Regtrlcted Toial Funds Funds 2028 Charitable actlvitl SupF)Ort costs 124,757 4,994 129,751 438,132 26.038 $82,889 31,032 593,921 464,170 Exp•ndltur• on charltablo 4cllvlll•* by actlvtty typ• Actlvitles undertaken dlrectty Support Total fund8 costs 2024 Total fund 2023 Charitable actlvltles Goveinance costs 111,520 111,520 6,677 118,197 562,889 31,032 593,921 6,677 111.S20 6.677 1Q. Analyslg ot support ¢os18 Analysls of support Costs Total 2024 Total 2023 6,677 6,6TI 31,032 Governance costs 12
Teesside Environmental Trust Company Limited by Guarantee Notes to the Flnanclal Statements (contthu Year ended 31 March 2024 10. Analysls of gupport CO8lS (¢ondntt) Unrestricted tunds Restricted funds Total 2024 Total 2023 Insuranc8 Accountancy Subscriptions Administration charges LAndfill tax credit Income - Augean 2,576 1,650 1,519 2,578 1,650 1.519 932 2,072 1,436 1,486 26,038 932 5,745 932 6,677 31,032 11. Taxallon The chariws activllles lall wÉihin the 8x8mptions afforded by tha proV10nS of The Corporation Taxes Act 2010. Accordingly, there Is no charge in the88 accounts. 12. Indepondeni oumlnatlon fees 2024 2023 Fees payable to th6 independent examiner for: Independant examination of the financial statements 1,650 1,436 13. siaff costs No salaries or wages have b&en pald to employees. including the truste8s, during the year. The average number of employees (including the truslees) during th6 year was 12 (2023: 10). 14. Trustse remuneratlon and exp8nsos No remuneration or othar benellts from employment with tha Gharity ware receiv8d by the trustees during the accountlng perlod. 15. Tanglble Ilxgd asBets The treehold propety owned by Tee8side Environmèntal Trust was olfted to th8 charlty and theiefore Is induded at nil cost in the accounts. Tha Saltholm8 Réserve which forms the bulk ot the freehold property Is rented to the RSPB on a long term le&se. As a result of the existing 99 year lease of the land with Ihe RSPB with 85 y8ars18ft to run th9 Trustees have sought informal advice, but not a fomal valuation, and based on the current RSPB rent valued the land at £105,000. 13
Teesside Environmental Trust Company Llmited by Guarantee Notes to the Financial Statements Iwidnu•dJ Year ended 31 March 2024 16. Deblors 2024 2023 Trade debtors Pr8payrnents and accrued income Other deblors 2,060 18,758 1,967 14,951 20.818 16,919 17. Crndltors: amounts falllng due wlthln ono year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and dèlerred Incorne Social securtty and othar taxes 7,006 536 4,724 1,SOO 9,204 15,964 1,6SO 10.204 18,878 1& Analysls of charltable funds Unrnslrl¢ted funds Al 31 March 20 24 At 1 April 2023 Income Expenditure 226.538 (69,562> General lunds 499,5TI 656,553 At 31 March 20 23 At 1 Aprll 2022 Income Expenditure General funds 399,157 230,171 (129,751) 499,5TI Purposes ol unStrICted funds The general funds are funds which can be used in accordance wlth the charltable objects at the dlscretion of th8 tnJste88. 14
Teesside Environmental Trust Company Llmited by Guarantee Notes to the Financlal Statements {¢onthiu•d) Year ended 31 March 2024 18. Analysls ol charltable lunds (confknwd) Re3trlct•d lurNIs Al 31 March 20 24 At l April 2023 Income ExpendFture Land fill cradlt fund 384,333 514,482 (48,635) 850,180 At 31 March 20 23 At 1 Apfll 2022 Income Expenditure Land1111 tax credit fund 507,625 340,878 (464,170) 384.333 Purposes of restricted lunds The Land Flll Tax Credit Fund has been used for the development of The Intarnational Nature Reserve In the Tees Valley which also contains the Saltholme Wild Bird Discovery Centre. 19. An•lysls ol not assets bgtween lunds Unrestricted Funds Restri¢t8d Total Funds Funds 2024 Current assets Credltors less than 1 year Nel assels 675,431 (18,878) 656.553 850,180 1,525,611 (18,878) 1,506,733 850,180 Unrestricted Funds Rostricted Total Funds Funds 2023 Current ass8ts Creditors less than 1 year Nol •8set8 515,541 (15,964) 499,577 384,333 899.874 115,964) 883,910 384.333 20. Flnanclal Instruments The company has not used any non-basic Ilnancial instruments in tha perS0d. 21. Rdatod partlos TEf has undertaken a rent revlew In respect of land in its ownership and leased to RSPB. TET has aoreed on a rent review during the year. lof th8 next four years at less than open market value as this further promoles the charitable objectiv8s of TET. 15
Teesside Environmental Trust Company Limlted by Guarantee Notes to the Flnanclal Statements (c•fttlnu&*) Year ended 31 March 2024 22. Land leased from Teesslde Envlronmenial Tyusl Statera Energy, which leases land from Teasside Environmental Trust, is Ilable to make payments for 25 years which will cover any costs, in addition to costs covared by the decommlssioning b)nds, to restore the sites. The total paymènts made to 31 March 2024 ar6 held In an escrow account which has a balance of £34,221 (2023.. £26,299). 16
Teesside Environmental Trust Company Llmited by Guarantse Management Information Year ended 31 March 2024 The lollowlng Pag do nol lorm part ot Ihe Ilnanclal statem8nts. 17
Teesside Environmental Trust Company Llmited by Guarantee Detailed Statement ol Financial Activities Year ended 31 March 2024 2024 2023 Income and endowmonts Voluntary Income Landfill tax credit income - Augean 506,279 339,500 In¥trn8nt Incom• Income Irom UK inv8Stment properties Bank interest recebvable 15,057 2.376 15,058 2,377 Olh8r Incomlng re8ource8 Other income Adrninlstration Incom8 218,751 932 203,134 26,038 229,172 219,683 Total Income 741,020 571,049 Expendlturo Expendllure on charltable actl11a$ Rent Rates and watar Repairs and maintenance Insurance Motor vehicle expanses Legal and wofessional fees Other ofli¢8 Costs Subscriptions (17,112) (12,086) (39,361> (438,401) {36,839) 18.431) (2.5761 (2,072) (18,493) (14,266) (1,365) (3,197) (932) (113,982) (1,519) 11,486) (118,197) (593,921) Total exp6ndllur• (118,197) (593,921) Net Incomel(oxpendlturn) 622,3 {22.872) 18
Teesside Environmental Trust Company Limited by Guarantee Notes to the Detsiled Statement of Flnancial Activities Year ended 31 March 2024 2024 2023 Expenditure on chariiablo actlvllles charltab acllvltles Actlviti8s Undertakl dirnctly Levy on landfill tax Site work costs Administration 8xpenses L8gal and professional fees UK entertainment and trustee costs Statera proj8Ct costs (17,112) (12,086) {39,361) (438,401) 136,839) (8.431) (18,493) <14,2661 28S (1,761) (87,944} 1111,520) {562,889) Govornanc8 costg Insurance Accountancy Administration charges Subscriptions 12.576) 11 ,6501 (932} (1,5191 (6,677) (2,072) (1,436) {26,0381 (1,486) (31,032) Expendllure on charllable actlvltles (118,197) {593.921)
COMPANY REGISTRATION NUMBER: 3438389 CHARITY REGISTrATION NUMBER: 1093327 Teesside Environmental Trust Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 HIP HA E MANNER Chartered Accountants 384 Linthorpe Road Middlesbrough TS5 6HA
Teesside Envlronmental Trust Company Limlted by Guarantee Flnancial Stalements Year ended 31 March 2024 Page Trustees, annual report (incorporating th8 directors, report) Independent examinerfs report to the trustees Statement of linancial activities (including income and expenditure account) Statement of financial position Notes to the financial statements Th8 followlng pages do not form part ot the flnan¢lal siatements Detailed statement of tinancial activities Notes to the detailed statement of financial activities 18 19
Teesside Environmental Trust Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Directors, Report) Year ended 31 March 2024 The trustees, who are aL80 the directors lor the purposes Df company law, present their report and the unauditad financial statern8nts of th8 charity for the y8ar ended 31 March 2024. Relerence and admlnlstratlve d8talls Teesslde Envlronmantal Trust Raglslerod charlty name Charfty regl*lrallon number Company reglstratlon numbor 3438389 Prlnclpal offl 15 Sculptor Crescent Stockton TS18 3QR 1093327 Roglsterad offlc• 19 Yarm Road Stockton on Tees TS18 3NJ The tn885 D Kitchan K Hissitt P L Cornes C Shepherd R Drinkwater J Mann D J Morrls T Blanchard A Baker Borthwick J Woods (R8sned 31 August 2023) {Appointed 5 March 2024) (Appointed 6 September 2023) (Appointed 5 September 2023) {Served from 6 S&ptember 2023 to 5 March 20241 D Braithwaite Company Secrelary C Artley Independffil examlnor Graeme Boagey, FCA 384 Linthorpe Road Mlddlesbrough TS5 6HA
Teesside Environmental Trust Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) fcontlnu•d) Year ended 31 March 2024 Stiuctureg govomanco and manag•ment Organisational structure The charlty is constltuted as a limited ty guarantee company, without a share caprtal and is governed by it5 Memorandum and Articles of Association. Management The charity is managed on a day-trday basis by the Trust Administrator. The Trust Board is responslble for the overall direction and operation of the chartty. li meets lour tlmes a y8ar but thi8 is supplemented by other m88tings as r8qulred. Governance and inlernal contrd The Trust Board has reviewed the major rlsks to which the charfty is exposed and actions hav8 been taken to mitlgate those risks. Contaminated land insurance tog8ther wilh general insurances, have been takèn out. In view of chang8S tr> the previous Landlill Tax Credits Scherne. the charity has also secured fundlng from other sources to support the project. Objectives and acllvltlos Charitable Memonards Thè principal activity of the charity Is th8 development of the nature reseNe at a Site north of the Clarences, Sto¢kton-on-Tees. The chanty also protects and promotes ihe natural environment through the provision of nature r8serves, the managernènt ol habitats, the conservation of habitats species, th6 conservation ot the historic environment and th6 Pfovision of education on the naiural environment. Public ben8fit objectives In order to meet its objectives, the charity has incurred a larg8 arnount of éxpendlture on d6v8loping the site in order to protect Ihe environment. This has enabled a state ot the art wildlifa rgseNe and discovary park to be built which has been made availabl8 to Ihe general public. The trustees confirm that they have rèferred to tha guldance contained in the Charity Cornmission's general guidance on public bonefit when raviewing the Charws aims and objectives and in planning future conservation projects.
Teesside Envlronmental Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) (¢¥)nllnu) Year ended 31 March 2024 Achlevoments and performance Review ol activittes and achiavements 202312024 has been another successful year for Teesside Environmental Trust. Our primary focus has remained the Saltholme Nature Reserve, where we continued financial support for our partners, the RSPB. in thair management and development ol the reserve. This year landscaping wei grassland was und8rtaken by the RSPB to ralandscape both the wet grassland and Cowpen South. Both areas provide addÉtlonal wet areas for both wintertng and breeding waders. Also to provide better access to wheelchair users and Ihose using scooters a new iouch-button automated pedestrian gate was installed in tha anti-predator fence. Teesside Enwronmgntal Trust celebrated 25 years of success in April this year. To rnark this Memorable occasion a wrought iron gate was designed and built by Architectural blacksmith Brian Russell of Little Nèwsham Forge and arected in the Bearshaw Gardens at Saltholme. We have continued to collaborate with other partn8rs on associated nature conservation and enhancement schemes, including the planned Creatlon of exlensive wetlands on the southern boundary of Saltholrne to reganerate the environs of Holme Fleet ancl reduce tidal flood risk and create flood resilience for our neighbours In the Clarences communty. Our principal partners in this major project ar8 st(on on Teas Borough Council and the Environmental Agency, with projected cornpletion in 2026. All this has been achiev8d by consist8nt SUPFX)rt from truste88 and their endeavours Dn b&hall of the Trust. Flnanclal revl Financial posilion The accumulated funds * 31 March 2024 were £1,506.896 (2023: £883,910) and the charlty has adaquatè resources to meet expenditure as it falls due in th8 year commencing 1 April 2024. Réserves The charkty receives tax credit Income from a Landfill operator on an annual basls under legal agroements sign8d wlth the operator. This agreement Is set to last for several years. The scale of warks to be cafrled out and associated support costs are matched to the Landfill Gommunities Fund resources r8celved in the previous y&ar. Small company provlslons This report has been prepared in accordance wlth the provisions applicable to companies entitted to Ihe small companies exemption.
Teesside Envlronmental Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Directors, Report) (conllnu•dJ Year ended 31 March 2024 The trustees. annual report (incorporatlng the diractors, report) was approved on and signed on b8halt of th8 board of trustees by: fbloi170Z4 C Artley Secretary
Teesside Environmental Trust Company Limiled by Guarantee Independent Examlner's Report to the Trustees of Teesslde Environmental Trust Year ended 31 March 2024 I report lo the trustees on my axamination of the tinanclal statements of Toessldè Environmental Trust I'tha charity.) for the year ended 31 March 2024. Respon•lbllltleg and basls ol r•port As the Iru8te6s of thè company land also its dlrectors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wlth the requiraments of Iha Companies Act 2006 ('th8 2006 ACV). Having satistlad myself that the a¢¢ounts of the company are not requlred to ba audlted under Part 18 ot the 2006 Act and aro ellgible for Independent examination, I report in rsspect of my examination of the charity's accounts as carri8d out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Dlreciions given by thè Charity Cornmission under section 145(5llb) ol the 2011 Acl. Independenl •xamln•r'8 8t•iom•nt Since the charity's gross incom8 8xc8èded £250,000 your examlner must be a member ol a body Ilsted in sectlon 145 Df the 2011 Act. I conflrm thal l am qua1rf18d to undertake the examinalion because l am member ol the Institute ol Chartered Accountants in England and Wales IICAEW), which Is one of the Ilsted bodles. I have completed my 8xamlnatlon. I conflm that no matters have come to my attention In conn8cllon wlth the examlnalion giving me causé to b611ev8: accounting racords were not kept In respect of the charfty as requlred by sectlon 386 of th 2006 Act, or the financlal stalements do not accord with those records,. or th6 linancial statement8 do noi comply wlth tha accounllng requlrem8nts of sectlon 396 of the 2006 Act other than any requlrement that the accounts give a 'lrue and lair. view which is not mattor considered as part of an independent ex8mination-, or the financial Slatemonts have not b8en prepared in accordance wlth th8 methodB and prlnclples ol lh8 Szatement of Recommènded Practice lor accountlng and feportlng by charilies appllcable to charlti89 preparing thelr accounts in accordance wSth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102).
Teesside Environmental Trust Company Llmlted by Guarantee Independent Examiner's Report to the Trustees of Teesslde Envlronmentsl Trust (eonulw Year onded 31 March 2024 I hava no concerns and have corne across no other matt8rs in conn8Ctlon wSth the examlnation to whlch attenlion should bè drawn In thls raport In order to enable a proper undersL2nding of the accounts io be reached. Graeme Boagey, FCA Independènt Examlner 384 Llnthorpe Road Mlddlesbrough TS5 6HA 24 Tvly ILIL4
Teesside Environmental Trust Company Llmlted by Guarantse ststemenl of Flnanclal Activities (including income and expenditure account) Year ended 31 March 2024 2024 Reslricted funds Toial lunds Total funds 2023 Unrestricted funds No*• Incom• and •ndowment8 Voluntary incom8 Investmènt Income Other Incoming oUrCes Total In¢om• 506,279 8,203 506,279 15,058 219,883 741,020 339,500 2,377 229,172 6,855 219,683 226,538 514,482 571,049 Expgndllur• Expenditure on charitable activities Tot•1 expondlture (69,562) (69,562) {48,635> 1118,197) (593,921) (48,635> (118,197> (593,921) Nol In¢om81(oxpondllure) and n•t movomont In funds 156,976 465,847 622,823 {22,872) Reconclllallon of funds Total funds brought torward Total lund• ¢arrf•d I01rd 499,577 384,333 850,180 883,910 1,506,733 906,782 656,553 883,910 Th8 statèment ol flnanclal activlti@s Includes all gaing and108S88 recognlsed In the yaar. All Income and expenditura derlve Irom coniinulng actlvitles. Tho notas on pagej g to 16 forni pArt of Ihme Ilnanclal st•t•ments.
Teesside Environmental Trust Company Llrnlted by Guarantee Stalement ol Financial Posltion 31 March 2024 2024 2023 Not• Current assets Debtors Cash at bank and in hand 16 20,818 1,504,793 1,525,611 16,919 882,955 899,874 Credltors: amounis lalllng duo wlthln one yéar Net current assets 17 (18.8781 1,506,733 1,506.733 1,506,733 (15,964) 883,910 Total a38ets lesj Current Ilabllltlos Net ass•ts 883,910 883,910 Funds ol the charity Restricted funds Unrestricted funds 850,180 656,553 18 1,506.733 384,333 499,577 883,910 Tolal charlty lund8 For tha year ending 31 March 2024 the charity was entitl8d to exemption from audit undèr section 477 of the Companies Act 2006 relating io small companies. DireGtors' responsibilities: The memb8rs hav8 nol required the company to obtaln an audtt of its flnancial statements for the year in questson in accordance with section 476,. The directors acknowSedgo their responsibiltii8s for cornplying with the r8quirements ol the Act with respect to accounting fecords and the preparation ol financial staternents. These financial slatements hav8 been prepared in accordance with thg provlslons applicable to ¢ompaniaS subject to thè small compafties, regime. These financlal statements were approv8d by the board of trustees and authorised tor issue on , and are signed on behalf of th8 tard by.. Ib [01 IzoL4 D Kitchen Trustee The notss on p8gB• 9 to 16 lorm p•rt of thoso Ilnancl41 •tstemont*.
Teesside Environmental Trust Company Limited by Guarantee Notes to the Flnancial Ststements Year ended 31 March 2024 General Inlormntlon The charity is a public benefit entity and a private company Ilmlted by guarantee, reglstered In England and Wales and a registered clwity in England and Wales. The address of registered office is 19 Yarm Road, Stockton on Tees, TS18 3NJ. Statoment of compllance These financial statements have been prepared in compliance with FRS 102, Trie Financlal Reportlng Standard applicable in Ihe UK and the Republic of Ireland,, the Stalem8nt of Recornmended Practice applicable lo charlti8s preparing thelr a(xounts in ardance with the Financial Reporting Standard appllcabl8 in the UK and Rapublic of Ireland (FRS 102) (Charitles SORP (FRS 102)) and the Cornpanles Act 2008. Ac¢ounlln9 pollcles Ba818 of pr•parntlon Thè linancial statamènts have been prepared on the hlstorral cost basis, as rnodified by the r8valuation of certaln financial as58ts and liabililies and investment properties measured at fair value through income or expenditure. The flnancial stat8ments are prapared in sterting, whlch is the functIor1 currency of the entity. Golng concern There are no material uncertaintFes about the charity's ability to continue. Dlsclosure exomptlons Advantage has been taken of the following disclosure exemptlons available.. No cash flow Statement has been present1 for the company. Judgomenls and kèy sources of 6stlmallon uncertalnty The preparation of the linancial statements requires management to make judo8ments. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually r8view8d and are based on éxperience and other fac1ors, includlng expectations of future events that are b81ieved to ba reasonable under the circumstances. Fund accountlng Unrestricted lunds are available lor use at the discretion ol the trustees lo further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the tTUStees for partlcular futurft proj8¢t or commiimant. R6strieted funds are subjècted to T8strÈctions on Iheir expenditur8 declared by the donor or through the terms of an app8al, and fall into one of two sub-classes: re8cted income tunds or endowment furKJs.
Teesside Environmental Trust Company Limlted by Guaranteg Notes lo the Financial Ststements Iconllnuod) Year ended 31 March 2024 Accountlng pollcles (¢Mttnwd) Incomlng resourcas All incoming resources are induded in the slatement of financial activitiès when entitlement has passed to the chafity,. it is probable that the economic benefits associated with the transacts'on will flow to the charty and the amount can be reliably rneasured. The following specrfi¢ pollcies are applied lo particular cat8gories of income: income from donations or grants Is recognised when there13 evidence of entllement to the gift, receipt is probable and its arnount can be measured reliably. legacy Income Is recognised wh6n recelpt is probablo and entitlement is ostablEshed. Income from donated goods measured at the lair value of the goods unless this is Impractical to measure reliably, In which case the value is derived trom the cost to the donor or the estirnated resale value. Donated facilities and seNices are recognised In the accounls when raceived it the valua can be reliably measured. No arnounts are includad for th8 contrlbution of general volunteers. incorna from contracts for tha supply ol sèrvices is recognised with the delivery of thé contracted Service. Thls is classified as unrestricted funds unless there is a contractual raquirement for it to be spent on a particular purpose aNI returned rf unspent, In which case it may be regarded as restricted. Rgsourc8• expènded ExpendltUTe Is r8cognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully revered, and is classrfied urK*r headings of the statern8nt of financial actlvtties to whlch It relates: expenditure on ralsiTVJ funds includes th8 costs of all fundralsing activityos, events, non- charitable trading a1VitIes, and the salè ot donateLI goods. expendlture on charwle activltles Includes a51 costs Incurreofj by a charity in undertaking actlvttles that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relatlng to the gov8mance of the charity apportioned to charitable activities. other expenditur8 includes all expenditure that Is nellher related to raising funds for the charity nor part ol its expenditure on charitable activities. All costs are althated to exp8nditure categories r811eciing the use of the resource. Olrect costs attributable io a single activity are allocated directly to that activity. Shared costs are apportioned b8tween th8 activities they contribute io on a r8asonable, justlfiabla and conslstsnt basis. 10
Teesside Envlronmental Trust Company Limited by Guarantee Notes to the Financial Statements {conllnu•d) Year ended 31 March 2024 Accounllng pollcles fc¢Jnttm*d) Flnanclal In$trum•nt8 A financial asset or a financial liability is recognlsed only when the entty becomas a party to the contractual provisions ol the instrument. Basic financial instruments are inltially recognised al the amount receivable or payabl& including any relaled transaction cogts, unless the arrang8m8nt constitutes a financing transaction, where it is recognised at Ihe present value of the future payments discounted at a market rate of inter8St for a slmilar dabl Instrumont. Current assets and current liabilitles are subsequently Measured at tha cash or other considefatton &xpected to be paid or received and not tjiscounted. Llmlted by guarantee Teesside Environmerrtal Trust Is limited by guarante8 and accordingly doès not have share capilal. Every membar ol the company undertakes to contribut8 such amount as may be required not exce8dirKJ £1 to assets of the charitabl8 company in the event of its being wound up whilg he or shè Is a member, or wlthln one year after he or she ceases to be a rn8mber. Voluntary Incomo RestrFCted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Oonallons Landfill tax credit income - Augean 506,279 506,279 339,500 339,500 Inve8im8nl Income Unrestrlcted Funds Restricted Tol81 Funds Funds 2024 Income frorn UK invgstrnent propertles Bank inlerest receivable 8,203 8,203 15,057 15,058 6,855 Unrestricted Funds Rastricted Total Funds Fundg 2023 Income from UK investment propertles Bank interest receivable 1,378 1,378 2,376 2,377 11
Teesside Environmental Trust Company Llmlted by Guarantee Notes to the Flnanclal Statements fcontlnu•dJ Year ended 31 March 2024 Othor Incomlng ro8ource8 Unrestricted Total Funda Unrastricted ToLqI Funds Funds 2024 Funds 2023 Other income Adminislraiion income 218,751 932 218.751 932 203,134 26,038 229,172 203,134 26,038 229,172 219,683 219.683 8. Expondiiur• on chlrtlable actlvlll•J by fund type Unrostrlcted Funds Reslricted Total Funds Funds 2024 Charltable activitie8 Support cosis 63,817 5,745 69,562 47,703 932 111,S20 6,677 48,635 118,197 Unrestrlcted Funds Regtrlcted Toial Funds Funds 2028 Charitable actlvitl SupF)Ort costs 124,757 4,994 129,751 438,132 26.038 $82,889 31,032 593,921 464,170 Exp•ndltur• on charltablo 4cllvlll•* by actlvtty typ• Actlvitles undertaken dlrectty Support Total fund8 costs 2024 Total fund 2023 Charitable actlvltles Goveinance costs 111,520 111,520 6,677 118,197 562,889 31,032 593,921 6,677 111.S20 6.677 1Q. Analyslg ot support ¢os18 Analysls of support Costs Total 2024 Total 2023 6,677 6,6TI 31,032 Governance costs 12
Teesside Environmental Trust Company Limited by Guarantee Notes to the Flnanclal Statements (contthu Year ended 31 March 2024 10. Analysls of gupport CO8lS (¢ondntt) Unrestricted tunds Restricted funds Total 2024 Total 2023 Insuranc8 Accountancy Subscriptions Administration charges LAndfill tax credit Income - Augean 2,576 1,650 1,519 2,578 1,650 1.519 932 2,072 1,436 1,486 26,038 932 5,745 932 6,677 31,032 11. Taxallon The chariws activllles lall wÉihin the 8x8mptions afforded by tha proV10nS of The Corporation Taxes Act 2010. Accordingly, there Is no charge in the88 accounts. 12. Indepondeni oumlnatlon fees 2024 2023 Fees payable to th6 independent examiner for: Independant examination of the financial statements 1,650 1,436 13. siaff costs No salaries or wages have b&en pald to employees. including the truste8s, during the year. The average number of employees (including the truslees) during th6 year was 12 (2023: 10). 14. Trustse remuneratlon and exp8nsos No remuneration or othar benellts from employment with tha Gharity ware receiv8d by the trustees during the accountlng perlod. 15. Tanglble Ilxgd asBets The treehold propety owned by Tee8side Environmèntal Trust was olfted to th8 charlty and theiefore Is induded at nil cost in the accounts. Tha Saltholm8 Réserve which forms the bulk ot the freehold property Is rented to the RSPB on a long term le&se. As a result of the existing 99 year lease of the land with Ihe RSPB with 85 y8ars18ft to run th9 Trustees have sought informal advice, but not a fomal valuation, and based on the current RSPB rent valued the land at £105,000. 13
Teesside Environmental Trust Company Llmited by Guarantee Notes to the Financial Statements Iwidnu•dJ Year ended 31 March 2024 16. Deblors 2024 2023 Trade debtors Pr8payrnents and accrued income Other deblors 2,060 18,758 1,967 14,951 20.818 16,919 17. Crndltors: amounts falllng due wlthln ono year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and dèlerred Incorne Social securtty and othar taxes 7,006 536 4,724 1,SOO 9,204 15,964 1,6SO 10.204 18,878 1& Analysls of charltable funds Unrnslrl¢ted funds Al 31 March 20 24 At 1 April 2023 Income Expenditure 226.538 (69,562> General lunds 499,5TI 656,553 At 31 March 20 23 At 1 Aprll 2022 Income Expenditure General funds 399,157 230,171 (129,751) 499,5TI Purposes ol unStrICted funds The general funds are funds which can be used in accordance wlth the charltable objects at the dlscretion of th8 tnJste88. 14
Teesside Environmental Trust Company Llmited by Guarantee Notes to the Financlal Statements {¢onthiu•d) Year ended 31 March 2024 18. Analysls ol charltable lunds (confknwd) Re3trlct•d lurNIs Al 31 March 20 24 At l April 2023 Income ExpendFture Land fill cradlt fund 384,333 514,482 (48,635) 850,180 At 31 March 20 23 At 1 Apfll 2022 Income Expenditure Land1111 tax credit fund 507,625 340,878 (464,170) 384.333 Purposes of restricted lunds The Land Flll Tax Credit Fund has been used for the development of The Intarnational Nature Reserve In the Tees Valley which also contains the Saltholme Wild Bird Discovery Centre. 19. An•lysls ol not assets bgtween lunds Unrestricted Funds Restri¢t8d Total Funds Funds 2024 Current assets Credltors less than 1 year Nel assels 675,431 (18,878) 656.553 850,180 1,525,611 (18,878) 1,506,733 850,180 Unrestricted Funds Rostricted Total Funds Funds 2023 Current ass8ts Creditors less than 1 year Nol •8set8 515,541 (15,964) 499,577 384,333 899.874 115,964) 883,910 384.333 20. Flnanclal Instruments The company has not used any non-basic Ilnancial instruments in tha perS0d. 21. Rdatod partlos TEf has undertaken a rent revlew In respect of land in its ownership and leased to RSPB. TET has aoreed on a rent review during the year. lof th8 next four years at less than open market value as this further promoles the charitable objectiv8s of TET. 15
Teesside Environmental Trust Company Limlted by Guarantee Notes to the Flnanclal Statements (c•fttlnu&*) Year ended 31 March 2024 22. Land leased from Teesslde Envlronmenial Tyusl Statera Energy, which leases land from Teasside Environmental Trust, is Ilable to make payments for 25 years which will cover any costs, in addition to costs covared by the decommlssioning b)nds, to restore the sites. The total paymènts made to 31 March 2024 ar6 held In an escrow account which has a balance of £34,221 (2023.. £26,299). 16
Teesside Environmental Trust Company Llmited by Guarantse Management Information Year ended 31 March 2024 The lollowlng Pag do nol lorm part ot Ihe Ilnanclal statem8nts. 17
Teesside Environmental Trust Company Llmited by Guarantee Detailed Statement ol Financial Activities Year ended 31 March 2024 2024 2023 Income and endowmonts Voluntary Income Landfill tax credit income - Augean 506,279 339,500 In¥trn8nt Incom• Income Irom UK inv8Stment properties Bank interest recebvable 15,057 2.376 15,058 2,377 Olh8r Incomlng re8ource8 Other income Adrninlstration Incom8 218,751 932 203,134 26,038 229,172 219,683 Total Income 741,020 571,049 Expendlturo Expendllure on charltable actl11a$ Rent Rates and watar Repairs and maintenance Insurance Motor vehicle expanses Legal and wofessional fees Other ofli¢8 Costs Subscriptions (17,112) (12,086) (39,361> (438,401) {36,839) 18.431) (2.5761 (2,072) (18,493) (14,266) (1,365) (3,197) (932) (113,982) (1,519) 11,486) (118,197) (593,921) Total exp6ndllur• (118,197) (593,921) Net Incomel(oxpendlturn) 622,3 {22.872) 18
Teesside Environmental Trust Company Limited by Guarantee Notes to the Detsiled Statement of Flnancial Activities Year ended 31 March 2024 2024 2023 Expenditure on chariiablo actlvllles charltab acllvltles Actlviti8s Undertakl dirnctly Levy on landfill tax Site work costs Administration 8xpenses L8gal and professional fees UK entertainment and trustee costs Statera proj8Ct costs (17,112) (12,086) {39,361) (438,401) 136,839) (8.431) (18,493) <14,2661 28S (1,761) (87,944} 1111,520) {562,889) Govornanc8 costg Insurance Accountancy Administration charges Subscriptions 12.576) 11 ,6501 (932} (1,5191 (6,677) (2,072) (1,436) {26,0381 (1,486) (31,032) Expendllure on charllable actlvltles (118,197) {593.921)