2024-03-31-accounts - Little Ouse Headwaters Project

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Little Ouse Headwaters Project

Financial Statements for the year ending 31st March 2024 Charity number 1098232 Company number 4684054

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Contents	Page
Charity Trustees	3
Report of the Trustees	4
Statement of Income and Expenditure	7
Balance sheet	8
Trustees’ approval of the accounts	9
Notes to the accounts	10
Report of Independent Examiner	12

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Trustees

Dr R Robinson - Chairman Mr N Lingwood - Hon. Secretary Mrs A Robinson - Hon. Treasurer Dr N Clark Mr R Hayward Mr J McCormack Mrs S Grainger Prof R Fuller Dr R Langston Mr R Langston Mr A Goodall

Company secretary - Mr N. Lingwood

Employees

The project has one employee.

Charity address and registered office

Thelnetham Windmill, Mill Road, Thelnetham, Diss, Suffolk IP22 2JS

Registration

Charity number 1098232 Company number 4684054

Bankers

Barclays Bank plc, 14 Market Hill, Diss, Norfolk IP22 4JU Virgin Money plc, Jubilee House, Gosforth, Newcastle upon Tyne NE34 4PL Monmouthshire Building Society, John Frost Square, Newport NP20 1PX Dudley Building Society, 7 Harbour Buildings, Brierley Hill DY5 1LN CCLA Investment Management Ltd, 85 Queen Victoria St, London EC4 4ET

Aware of responsibilities

The Trustees are aware of their responsibilities to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company. They are also aware of their responsibility for maintaining proper accounting records and safeguarding the assets of the charitable company. Accounts were prepared on the basis of historic cost in accordance with Accounting and Reporting by Charities (SORP). The Trustees believe that the Little Ouse Headwaters Project is exempt from audit under Section 144(2) of the Charities Act 2011 and Section 477 of the Companies Act 2006. Audit is not required by its members or its Articles.

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Report of the Trustees for the period 1 April 2023 to 31 March 2024

Activities

The Trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding what activities should be undertaken. The Charity’s activities maintain and enhance the fragmented fen habitats along the headwaters of the Little Ouse River and take measures to join up these fragments to create a corridor of rich conservation value with access for public enjoyment.

Objectives

The Charity promotes for the public benefit, the conservation, protection and improvement of the physical and natural environment of the Upper Little Ouse Valley and environs in the parishes of Redgrave, Hinderclay, Thelnetham and Hopton in Suffolk and Garboldisham, Blo’Norton and South Lopham in Norfolk, collectively known as “the Area of Benefit”.

Status

The organisation is a charitable company limited by guarantee, incorporated on 3 March 2003 and registered as a charity on 26 June 2003 under the number 1098232. The company (number 4684054) was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Organisational Structure

The Charity is controlled by its Board of Trustees. Under the Company’s Articles of Association, the Board of Trustees comprises the Chairman, the Hon Secretary, the Hon Treasurer and Trustees appointed at the AGM. The number of Trustees must not fall below three and one third of the Trustees retire annually by rotation. The Board of Trustees may at any time co-opt a person willing to be appointed as a Trustee to fill a vacancy in their number but a co-opted trustee holds office only until the next AGM. Decisions are made by virtue of a simple majority of votes cast at a Board meeting. The board met on 4 occasions during the financial year 2023/24.

The board is assisted by three working groups for finance, land management, and communications plus an advisory group on conservation, whose membership includes both trustees and other volunteers with appropriate expertise.

Members of the Charitable Company guarantee to contribute an amount not exceeding £1 to the assets of the Charitable Company in the event of winding up. The total number of such guarantees on 31 March 2024 was 228. Membership included 32 Supporters, 140 Friends of the Fens, 42 sponsoring an acre and 14 ordinary members. The project has one employed manager reporting to a designated trustee.

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Review of Developments from April 1 2023 to March 31 2024

During the year LOHP continued with its core activities, managing land for wildlife and providing public access. There were no new land purchases or leases. Three existing leases were extended for a further 7 years.

Our Conservation Manager, Ellie Beach, is an invaluable asset managing the day to day running of LOHP, recruiting new and retaining old volunteers, engaging with a variety of organisations, giving walks and talks to external organisations which all play a part in getting LOHP known more widely.

Community engagement

This last year we had information stalls at several local events, gave talks to local organisations and groups and ran our own events.

Our Conservation Manager produces weekly email newsletters for the volunteers including their wildlife sightings and pictures which is a valuable team-building Communication.

Bulletins for members have been introduced as a new benefit of membership.

“Saving the water vole” by guest speakers after the AGM was open to all and well attended.

We are part of the Waveney and Little Ouse Recovery Project (WaLOR) which brings together landowners, farmers, local communities and conservation organisations. It seeks to address, on a landscape scale, habitat degradation, water pollution and declining biodiversity whilst performing climate enhancing changes.

Access & conservation

Boardwalks and paths allow public access at all times to LOHP managed land, allowing people to enjoy the peace and quiet, and see nature at its best.

Volunteer work parties and monitoring and surveying continue (see volunteering below) to manage the conservation value of our sites. Our local contractor helps us with the larger jobs. We are continuously finding new species on our sites and maintain an active volunteer-led monitoring program, both to obtain baseline measures and assess the effectiveness of our conservation program.

Volunteers

LOHP has only one full time employee – the conservation manager, so volunteers are vital. All trustees, officers, and operating group members are volunteers. We run weekly and monthly practical conservation management work parties for volunteers, undertaking habitat and estate management. Volunteers are also involved in various monitoring and surveying including Riverfly monitoring, botanical surveys, water vole monitoring, water level surveys, butterfly surveys and much more.

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Trustees & Officers

At the December AGM: Andrew Goodall was elected as Trustee. Nick Lingwood reached the end of his term but was re-elected for a further term in accordance with the terms set out in the Constitution.

Contracts

Peter Frizzell remained as our long-established land management contractor. Sarah Williams continues to provide fundraising support, running our Riverlink Appeal. Martin Phillips continues as our newsletter editor.

Reserves and Investment Policy

The Trustees have reviewed the need for financial reserves in line with the guidance issued by the Charities Commission. The Trustees seek funding from various sources and are grateful to the many trusts and grant providers who have contributed so far. As most income is generated in this way and varies widely and regular membership income is insufficient to meet regular ongoing costs, the Trustees will endeavour to set aside sufficient unrestricted funds to enable the Charity to meet its expenditure for 9 months. These funds are kept in interest-bearing accounts.

The Trustees believe that this reserve should be £70,000 to cover 9 months of costs.

Trustees believe that reserves need to be at this level to ensure that the Charity can continue to function should there be a shortfall in grant revenue. This will be reviewed annually.

Risks

The Board of Trustees regularly reviews the risks to which the Charity may be exposed and can confirm that systems have been established to mitigate those risks. The financial risks are reviewed at every Trustees meeting in the light of the uncertain financial climate.

Funds

The charity maintains three types of funds. Unrestricted funds represent income which is expendable at the discretion of the Trustees in furtherance of the objectives of the charity. Restricted funds represent donations and grants received which are allocated by the donor for a specific purpose. Designated funds are set aside by the trustees to allow for future work towards the implementation of the strategic plan.

Rob Robinson, Chairman and Trustee

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Income and Expenditure from 1[st] April 2023 to 31[st] March 2024

INCOME Agri-environmental grants Appeals & other grants Bank interest earned Donatons Miscellaneous income Online Giving (CAF) Subs and sponsorship TOTAL INCOME EXPENDITURE Access Appeal costs Depreciaton Bank Charges Employment Estate maintenance Habitat management Insurance Internet & website Machinery repairs and tools Miscellaneous Monitoring Motor costs Newsleters Professional fees Promoton Rent Site visits Statonery Training Volunteer costs Water and drainage TOTAL EXPENDITURE NET INCOME/(EXPENDITURE)	1st April 2023 to 31st March 2024 9,626.27 27,000.00 4,867.17 4,324.02 983.06 447.03 4,170.18 £ 51,417.73 3,66 5.95 4,222.53 155.18 33,155.61 19,641.73 6,203.40 1,640.67 1,181.56 1,202.63 701.03 5,975.18 700.15 2,654.20 1,954.45 3,304.91 3,960.00 122.62 3,700.58 1,106.45 435.87 £ 95,684.70 -£ 44,266.97	1st April 2022 to 31st March 2023 19,250.42 74,127.00 1,016.33 1,051.86 1,695.66 609.40 7,023.16
		£ 104,773.83
		757.75 1,823.50 2,967.95 172.39 31,100.19 5,631.04 12,764.44 1,553.23 835.40 2,567.91 535.05 6,032.13 2,310.30 837.12 3,536.32 4,006.50 2,684.97 6,480.00 263.20 2,509.60 1,456.36 286.28
		£ 91,111.63 £ 13,662.20

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Balance Sheet as at 31st March 2024

As at 31st March 2024 £ £ FIXED ASSETS Land(Note 1) Bety Fen 5,500.00 Carr Meadow 33,000.00 New Fen 55,000.00 Parkers Piece & Bleswyck Bank 55,775.00 Scarfe Meadows 75,000.00 Oak Tree Fen 50,000.00 Webb's Fen 63,000.00 Reeves Meadow 139,077.00 476,352.00 Machinery & Equipment costng over £250(Note 2) 10,696.87 TOTAL FIXED ASSETS £487,048.87 CURRENT ASSETS Cash at bank and in hand: Barclays Bank 10,113.65 COIF 20,000.00 Virgin Money 85,000.00 Dudley Building Society 85,000.00 Monmouthshire Building Society 86,659.76 Total cash at bank 286,773.41 This includes Reserved, Restricted and Designated Funds: Total £265,000(Note 3) Debtors TOTAL CURRENT ASSETS £286,773.41 TOTAL ASSETS £773,822.28 Creditors TOTAL NET ASSETS £773,822.28 CHARITY FUNDS Accumulated Funds 818,089.25 Surplus (Defcit) -44,266.97 TOTAL CHARITY FUNDS £773,822.28	As at 31st March 2023 £ £ 5,500.00 33,000.00 55,000.00 55,775.00 75,000.00 50,000.00 63,000.00 139,077.00 476,352.00 7,649.79 £484,001.79 19,087.46 60,000.00 85,000.00 85,000.00 85,000.00 334,087.46 £334,087.46 £818,089.25 £818,089.25 804,427.05 13,662.20 £818,089.25
	476,352.00 7,649.79 19,087.46 60,000.00 85,000.00 85,000.00 85,000.00
	334,087.46 804,427.05 13,662.20

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have requested the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

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

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

Approved and agreed by LOHP Board of Trustees on …………………………… 2024

Signed

Chair Treasurer Dr R Robinson Mrs A Robinson Date ___ ________

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

Notes to the accounts

1) Land is not depreciated, but it continues to be valued at acquisition cost and is not considered to be a disposable asset.

2) Tools and equipment costing £250 or more are depreciated at 20% per year on a straight-line basis.

Opening balance £7,649.79 Additions £7,269.61 £14,919.40 Less depreciation £4,222.53 Closing balance £10,696.87

3) Total cash in bank includes:

Cash £286,773.41 Management reserve £70,000.00 Restricted funds inc land purchase £165,000.00 Designated maintenance fund £30,000.00 Total Reserved/Restricted/Designated £265,000.00 Balance (Unrestricted) £21,773.41

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS

LITTLE OUSE HEADWATERS PROJECT

REPORT OF THE INDEPENDENT EXAMINER

I report on the accounts of The Little Ouse Headwaters Project for the year ended 31 March 2024.

Respective Responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to

a) Examine the accounts under section 145 of the 2011 Act
b) To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and
c) To state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention

1 Which gives me reasonable cause to believe that in any material respect the requirements a) To keep accounting records in accordance with section 386 of the Companies Act 2006 and
b) To prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with methods and principles of the Statement of Recommended Practise: Accounting and Reporting by Charities have not been met or
2 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Graham Sidle

Registered charity no 1098232 Registered company no 4684054 enquiries@lohp.org.uk www.lohp.org.uk Registered office: Thelnetham Windmill, Mill Road, Thelnetham, Diss, Norfolk IP22 1JS