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← The Wycombe Environment Centre Ltd

2024-05-31-accounts

Company number 4218686 Charity number 1094917

The Wycombe Environment Centre Ltd.

Annual Report and Accounts

for the year ended 31st May 2024

Registered Office 10 The Galleries, Dovecot Road High Wycombe HP13 5HR

The Wycombe Environment Centre Ltd.

Registered Company number 4218686

Registered Charity number 1094917

Contents

Contents
Administrative information 1
Trustees Annual Report 2
Independent Examiner's report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the accounts 10

The Wycombe Environment Centre Ltd.

Registered Company number 4218686

Registered Charity number 1094917

Charity information for the period ended 31st May 2024

Trustees Ellen Hawes Tracey Huxley (appointed as Company Secretary 14th Nov 2023) Suzi Jones Dr. Rosemary Miller (resigned 6th November 2023) Anthony Murphy (Chairman) Hilary Payne (resigned 10th October 2023) Sarfaraz Khan Raja Penelope Tollitt (Treasurer) Karen Prendegast (appointed 3rd September 2024) Karen Bates (appointed 24th September 2024) Registered Office 10 The Galleries Dovecot Road High Wycombe HP13 5HR Bankers Metro Bank Unit 81 / 113 Eden Walk High Wycombe HP11 2AW Independent Examiner Simon Erskine 61 Mortimer Road London NW10 5QR

1

The Wycombe Environment Centre Ltd.

Registered Company Number: 4218686

Registered Charity Number: 1094917

Trustees Annual Report

Introduction

The trustees, who are also the directors for the purposes of company law, present their Annual Report for the year ending 31 May 2024 under the Charities Act 2011, together with the accounts for the year, and confirm that the latter comply with the requirements of the Act and the Charities SORP FRS 102.

Structure, Governance & Management

The company, which is limited by guarantee, was incorporated on 17[th] May 2001. It is also a registered charity (number 1094917) and is governed by its Memorandum and Articles of Association. The directors of the company are its trustees for the purposes of charity law and throughout this report are collectively referred to as ‘the trustees’. The trustees are selected and appointed by existing trustees, confirmed at the AGM.

Public Benefit Statement

The charity exists to benefit the public in the following ways:

  1. by raising awareness in the High Wycombe area of the causes underlying, and the challenges arising from, global climate change (‘Think Global’);

  2. by encouraging local communities, families and individuals to explore, adopt and share good eco-living practices and behaviour (‘Act Local’);

  3. by seeking out stable and productive partnerships, networks and joint ventures with like-minded local groups, recognising that no one organisation has all the answers, and that in seeking to combat climate change, the current rich diversity of perspectives, solutions and priorities should be seen as strength, rather than weakness.

2

Activities for the year

The Refresh Shop has continued to grow its footfall, up 25% over the year before, despite the closure of Wilko, which was near to our shop. The repair cafe continues successfully, and now has a monthly craft workshop alongside as well. We have a volunteer base of about 50 people, in the shop, crafting, in the repair cafe and helping with events and fairs.

2023 was the year for us to implement our Refresh the Marketplace vision, finding a bigger premises from which to run our upcycling store and offer a range of re-use, recycle, refill, upcycle and other circular economy services, alongside workshops, repairs and more.

At the beginning of the financial year, in June, we were approaching the first anniversary of the employment of the Shop Manager, and at Easter had begun to open the shop on a Wednesday, alongside the regular Saturday. Towards the end of the financial year we were able to start opening on Sunday as well.

With the work of the Development Manager, who had been in post 5 months, we had been offered a potential new premises. An old nightclub in the centre of High Wycombe, purchased for redevelopment, with a landlord that could see the benefit of having a meanwhile use, while negotiating the planning application for the redevelopment.

The old nightclub (and before that the old post office) had been vacant for a good 15 years. The condition of the building was poor, but nothing that it seemed could not be resolved. The landlord undertook some remedial work, lifting the carpets, and getting the toilets back in working order, and similar, ready for us to move in, in the autumn.

Because of the affection with which many people in Wycombe remembered the night club, the story attracted a great deal of attention on local social media sites.

The move seemed to be well timed, because Wilko, one of the large stores in the shopping centre in which we had our shop, closed in the early autumn. We had expected our takings to fall considerably. However, there is no discernable impact on our takings or footfall.

However, in the end we were not able to move, because during the autumn it became apparent that more substantial refurbishment was needed, including updating fire compartmentalisation, which would require funding in the tens of thousands. Clearly it was not an economic thing to pursue for perhaps 18 months to 2 years of occupation. It was with great sadness, therefore, that we had to accept that was not to be the next premises for Refresh.

We were successful, however, in attracting £3,500 from the Council’s regeneration team for a paint jam project, and had the landlord's permission to carry on even though we were not able to occupy. We worked in partnership with the Wycombe Arts Centre and the ground floor is now covered in bright attractive graffiti art, involving a number of local artists.

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Necessarily, planning for the move was the main focus, and took a great deal of time, over a 6-8 month period, before it became clear it would not be possible to move.

We successfully raised additional funds from Awards for All National Lottery (£19k) and Garfield Weston (£8k), along with a Christmas match-funded crowdfunder, raising about £2k.

In the new year it was clear that our focus needed to shift to growing the existing business. There were no other obvious opportunities to move, and it was essential we consolidated and grew what we were doing.

We therefore decided to ensure we focused on our existing business, with the aim of adding a library of things to our offer. We also researched activities in other scrap stores and could see the potential for more ‘commercial’ relationships with possible ‘bulk buyers’ such as children's homes, offering craft packs for example.

From the growing band of regular volunteers we identified a number of ‘coordinator’ roles to help set up workshops, run events, stimulate creative activities and the like. We also agreed a different way for the trustees to work, with a small group forming an ‘executive committee’, which met weekly, allowing the rest of the trustees to fulfil a more non-exec role, meeting monthly or bi-monthly.

We successfully held a large number of events, workshops, volunteer days and attended external events. We ran a pop-up repair cafe at BNU (the local university), and a pop-up shop linked to our AGM, also at BNU. For the AGM we tested making craft goods from our stock, all by volunteers, and it was clear that there is a good market for that. We also took stalls at local fetes and street festivals

We also continued to attract many donations to the shop from businesses, and individuals, particularly crafters clearing out their craft cupboards.

However, the ability to commercialise our operation proved a great deal more difficult than we had imagined, not least because the materials that we have are so variable, and the public sector having such limited resources. We needed a pilot to be able to prove the concept, and help illustrate to others what we could offer, but we were unable to find such an opportunity.

At around Easter, the shop next door to ours in the Chiltern Shopping Centre was vacated, and we sought to move into it. We were aware that the lease may only be until the end of December 2024, but it was a greatly better shop. The landlord sought to let it commercially first, and it was later in the summer (in the new financial year) that we were able to move in.

We knew we needed to continue with our fundraising, but were concerned not to go for project funding, which would require us to undertake different work, when we did not have sufficient capacity to run the core business. The ambition had been that the core business would have become largely selffinancing, giving a strong position from which to seek project funding, but it was clear the core business would not cover its costs for a good while. The

4

National Lottery Reaching Communities fund gave the potential for core funding, and we targeted preparing a bid.

Plans for the future (from 1[st] June 2024)

During the summer there were a number of internal matters that had to be attended to and, coupled with reduced capacity with the trustees, it was not possible to submit the lottery bid. It became apparent that we could not continue with the risk of future funding bids with the costs of two part time members of staff.

The Trustees therefore had to explore the option of redundancy, and with a heavy heart it was concluded that it was necessary to make both jobs redundant, and to become a wholly voluntary organisation.

At the same time, we were able to move into the adjacent shop, and a review of our approach to health and safety led to a change in our approach to staffing, allowing the shop to open on 6 days of the week, from 12 hours across 3 days, to 28 hours across 6 days, which has transformed the fortune of the shop. Although the other large shop in our shopping centre, Primark, closed in September as with Wilko the year before this has not had a discernible impact on footfall or takings. We are slowly establishing Refresh as a destination.

Shortly after moving into the new shop, the landlord has offered a further year on the lease, to the end of December 2025.

Looking forward, the charity sees a new phase in its development, as a wholly voluntary organisation. Two new trustees have joined the board in September and the strategy remains to grow the shop, increase the amount of stock saved from waste, and develop a range of workshops and creative activities - the shop has the space to allow these to take place in the shop itself, which will help to drive footfall.

We are intending to submit a Reaching Communities bid, to facilitate a move to a premises with (we would hope) a 5 year lease, with a view to moving in the autumn of 2025, and we remain committed to increasing the services that we can offer from the existing shop, including a library of things, terracycle bins and other initiatives.

We will be having a reset in the autumn, simplifying our structures and approach, and focusing on building a community that will help to grow the shop, establish new initiatives, and be a force for good in the town.

Financial Review

At 31[st] May 2024, Wycombe Environment Centre held unrestricted reserves of £24,567 (2023: £11,093) and restricted funds of £46,901 (2023: £54,115).

Reserves policy

Trustees have established a policy whereby to secure the on-going sustainability of The Wycombe Environment Centre Ltd, this is based on total

5

reserves, since their restricted reserves relate to the core project and is based on cost of 2 salaries going forward, as well as the cost of current premises. The target total reserves is equivalent to 5 months’ running costs at £22,500 (calculated at £4,500 per month).

Any surplus above this amount is regarded as a safeguard for a shortfall in fundraising activity for projects and designated for the development and creation of new projects. It is projected that the reserves level would have been reached in December 2024 or January 2025, and it was for that reason that the redundancy process was triggered in the late summer of 2024.

Risk mitigation

A detailed Risk Register was compiled by the Board of Trustees which has been monitored annually.

Preparation of the report

This report has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006.

Signed on behalf of the Wycombe Environment Centre Board of Trustees:

Anthony Murphy

Chair

Date: 10th December 2024

6

Independent examiner's report to the Trustees of The Wycombe Environment Centre Ltd

I report to the charity trustees on my examination of the annexed accounts of The Wycombe Environment Centre Ltd for the year ended 31 May 2024.

This report is made solely to the Trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees for my independent examination work, for this report, or for the statement I have given below.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Simon Erskine FCA FCIE DChA

61 Mortimer Road London NW10 5QR

10 December 2024

7

The Wycombe Environment Centre Ltd

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 May 2024

Unrestricted
Note
£
Income from:
2
4,575
3
Earned income
4
9,025
Total income
13,600
5
126
126
11,093
11a
24,567
13,474
Total funds carried forward
Total funds brought forward
Reconciliation of funds:
Net income/(expenditure)
Total expenditure
Donations and legacies
Charitable activities
Charitable activities
Expenditure on:		 Restricted
£
210
46,270
-
46,480
53,694
53,694
54,115
46,901
(7,214)		 2024
Total
£
4,785
46,270
9,025
60,080
53,820
53,820
65,208
71,468
6,260		 Unrestricted
£
4,880
-
5,880
10,760
-
-
333
11,093
10,760		 Restricted
£
3,143
68,952
-
72,095
40,554
40,554
22,574
54,115
31,541		 2023
Total
£
8,023
68,952
5,880
82,855
40,554
40,554
22,907
65,208
42,301

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15a to the financial statements.

8

The Wycombe Environment Centre Ltd

Company no. 04218686

Balance sheet

As at 31 May 2024

Note
Current assets:
9
Cash at bank and in hand
Debtors		 £
484
73,784		 2024
£		 £
419
66,344		 2023
£
Liabilities:
10
Creditors: amounts falling due within one year		 74,268
(2,800)		 66,763
(1,555)
Net current assets 71,468 65,208
Total net assets 71,468 65,208
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General funds
Restricted income funds
Unrestricted income funds:
The funds of the charity:		 24,567 46,901 11,093 54,115
Total unrestricted funds 24,567 11,093
Total charity funds 71,468 65,208

For the year ending 31 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the trustees on _____ and signed on their behalf by 10th December 2024

Anthony Murphy Chairman of the Board of Trustees

9

The Wycombe Environment Centre Ltd

Notes to the financial statements

For the year ended 31 May 2024

1 Accounting policies

a) Statutory information

The Wycombe Environment Centre Ltd is a charitable company limited by guarantee and is incorporated in England. The registered office address is 10 The Galleries, Dovecot Road, High Wycombe, Buckinghamshire HP13 5HR.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (September 2015) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Subscriptions for membership of the charity do not entitle members to any goods or services and are therefore treated as voluntary income.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Where it is impractical to reliably measure the fair value of items donated for resale, the donated goods are recognised as income when they are sold.

f) Fund accounting Restricted Funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes.

g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

i) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

10

The Wycombe Environment Centre Ltd

Notes to the financial statements

For the year ended 31 May 2024

2 Income from donations

Garfield Weston Foundation
Bucks Council Community Board
Library of Things donations
Bucks Council: Paint Jam
Company membership
Bucks Council Waste Department
National Lottery : Awards for All
Veolia: Refresh project
Veolia: Bee Squared project
Donations in kind
Income from charitable activities
Donations
Department for Work & Pensions: Access to Work
Bee Squared donations
Asda Foundation: Bee Squared project		 Unrestricted
£
4,385
-
-
190
4,575
Unrestricted
£
-
-
-
-
-
-
-
-		 £
-
-
-
210
-
210
£
8,000
19,770
15,000
3,500
-
-
-
-
-
46,270
Restricted
Restricted		 2024
Total
£
4,385
-
-
210
190
4,785
2024
Total
£
8,000
19,770
15,000
3,500
-
-
-
-
-
46,270		 Unrestricted
£
4,720
-
-
-
160
4,880
Unrestricted
£
-
-
-
-
-
-
-
-
-
-		 £
-
1,143
2,000
-
-
3,143
£
-
-
10,000
-
35,000
20,000
1,000
400
2,552
68,952
Restricted
Restricted		 2023
Total
£
4,720
1,143
2,000
-
160
8,023
2023
Total
£
-
-
10,000
-
35,000
20,000
1,000
400
2,552
68,952

4 Earned income

Goods sold in Refresh shop are donated to the charity.
Advertising & marketing
Bank fees
Miscellaneous overheads
Salaries
Freelancers
Insurance
IT Software & consumables
Legal & compliance
Trustee expenses
Project costs
Refresh sales
Refresh scheme membership
Premises
Office running costs
Recruitment
Independent Examination & accountancy fees
Analysis of expenditure		 Unrestricted
£
8,650
375
9,025
Direct
costs
£
52
351
39,299
1,500
-
-
-
-
-
-
41,202		 £
-
-
-
Support
costs
£
-
-
-
2,448
-
1,300
1,160
35
-
5,656
471
1,392
78
78
12,618
Restricted		 2024
Total
£
8,650
375
9,025
2024
Total
£
52
351
39,299
3,948
-
1,300
1,160
35
-
5,656
471
1,392
78
78
53,820		 Unrestricted
£
5,655
225
5,880
Direct
costs
£
2,901
-
22,530
-
636
-
-
-
-
-
26,067		 £
-
-
-
Support
costs
£
-
166
-
1,173
-
1,038
1,030
470
286
5,676
510
4,097
41
-
14,487
Restricted		 2023
Total
£
5,655
225
5,880
2023
Total
£
2,901
166
22,530
1,173
636
1,038
1,030
470
286
5,676
510
4,097
41
-
40,554

The Independent Examiner's remuneration for the year was £800 (2023: £800).

11

The Wycombe Environment Centre Ltd

For the year ended 31 May 2024

Notes to the financial statements

Staff Costs
Wages and salaries
Wages and salaries
Social security costs
Pension costs		 2024
£
38,077
456
766
39,299		 2023
£
22,125
-
405
22,530

6 Staff Costs

The average number of employees (head count based on number of staff employed) during the year was 2 (2023: 1)

Key management personnel comprise the Trustees and the Development Manager. The total employee benefits of the Key Management Personnel were £23,231 (2023: £8,988).

No employees received emoluments in excess of £60,000 (2021: nil).

In December 2024 both staff members were made redundant, as there were insufficient funds to continue their employment into 25/26.

7 Related Party transactions

In 2022/23 trustee Louise Alexander received £135 reimbursing travel to board meetings and AGM. In 2022/23 Trustee Tracey Huxley received £200 reimbursement for purchasing a gazebo for outdoor stalls. In 2022/23 Trustee Dr Rosie Miller received £150 reimbursement for the hire of a room at Bucks New University for the Board Away Day. The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil).

Trustee Rosie Miller made a £20 donation during (2023:0)

Trustee Penelope Tollitt made a £10 donation (2023: £15, donation in kind £1143).

In 2022/23, Making Places Together, a company of which trustee Penelope Tollitt is the sole director made a £2,975 donation. In 2022/23, Making Places Together made a restricted donation of £2,000 for the Bee Squared project. All board members donated £10 for membership of the charity (2022: same). There were no other Related Party Transactions that require disclosure.

8 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9 Debtors

Trade debtors
Prepayments		 2024
£
50
434
484		 2023
£
50
369
419

10 Creditors: amounts falling due within one year

Trade creditors
Taxes payable
Accruals		 2024
£
1,500
-
1,300
2,800		 2023
£
38
342
1,175
1,555

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The Wycombe Environment Centre Ltd

Notes to the financial statements

For the year ended 31 May 2024

11a Movements in funds (Current year)

Paint Jam
Total restricted funds
General Funds
Bee Squared
Access to Work
Total restricted funds
General Funds
Library of Things
Eric Alexander legacy
Unrestricted funds:
Total Unrestricted Funds
Refresh Wycombe
Restricted funds:
Movements in funds (prior year)
Total Funds
Bee Squared
Restricted funds:
Eric Alexander legacy
Unrestricted funds:
Total Unrestricted Funds
Total Funds
Refresh Wycombe		 At the start
of the year
£
51,436
658
-
2,021
54,115
11,093
11,093
65,208
At the start
of the year
£
20,553
-
-
2,021
22,574
333
333
22,907		 Income &
gains
£
42,770
-
210
3,500
-
46,480
13,600
13,600
60,080
Income &
gains
£
66,143
3,400
2,552
-
72,095
10,760
10,760
82,855		 Expenditure
& losses
£
(52,194)
-
-
(1,500)
-
(53,694)
(126)
(126)
(53,820)
Expenditure
& losses
£
(35,260)
(2,742)
(2,552)
-
(40,554)
-
-
(40,554)		 At the end
of the year
£
42,012
658
210
2,000
2,021
46,901
24,567
24,567
71,468
At the end
of the year
£
51,436
658
-
2,021
54,115
11,093
11,093
65,208

11b Movements in funds (prior year)

Purposes of Restricted Funds

Refresh Wycombe

Funding from Awards for All, Garfield Weston Foundation, The Clare Foundation, the Community Board of Bucks Council, the Waste Department of Buckinghamshire Council and Veolia to run a scrap store and develop an environmental hub in South Bucks.

Bee Squared

Funding from Veolia, the Asda Foundation and Making Places Together to distribute flower seeds and the planting of flowering plants to enable bees to prosper.

Access to Work

Funding from the Department of Work and Pensions for IT equipment and training for neurodivergent member of staff.

Paint Jam

Funding from Buckinghamshire Council to brighten up tired buildings in Wycombe. Eric Alexander legacy

This fund was given in memoriam to fund an ecological project.

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.

12