2025-01-31-accounts

The Cornwall Sustainable Building Trust (Limited by Guarantee) Annual Report and Unaudited Financial Statements Year ended 31 January 2025 Company registration number: 04614816 Charity registration number: 1100982

Chapman Gain Chartered Accountants St Austell

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Legal and Administrative Information

Trustees	D M Edmondson - Chair
	P Crossley
	A Tatterton
	B Cocking
Charity number	1100982
Company number	046148l6
Principal address	Green Build Hub
	The Eden Project
	Bodelva
	St Austell
	Cornwall
	PL24 2SG
Registered office	Green Build Hub
	The Eden Project
	Bodelva
	St Austell
	Cornwall
	PL24 2SG
Independent examiner	Craig Chapman BSc (Hons) ACA
	Chapman Gain Chartered Accountants
	4 Tregarne Terrace
	St Austell
	Cornwall
	PL25 4BE
Bankers	Triodos Bank
	Deanery Road
	Bristol
	BS1 5AS
Solicitors	Stephens Scown LLP
	Osprey House
	Malpas Road
	Truro
	Cornwall
	TR1 1UT

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Contents

	Page
Trustees’ report	2 - 3
Statement of trustees' responsibilities	4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7 - 8
Notes to the financial statements	9 -17

1

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Trustees’ Report (Including Directors’ Report)

For the year ended 31 January 2025

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

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

Objectives and activities

The objects, as set out in the memorandum and articles of association, are assisting with the provision of sustainable and affordable housing, promoting the advancement of education and learning relating to sustainable building and preserving, protecting and enhancing the environment.

This past year has been a further period of consolidation of the Trust, with a continued positive cash flow and an improving balance sheet. The Trustees, who have a variety of skills from diverse professions including Architects, Planners, Builders and Building Surveyors, but we continue to try and recruit more committed people to support and deliver the Trust’s aims and objectives

The Trust's wholly owned consultancy company, Sustain Cornwall Limited, continues to provide premises management service for the Trust and assist with events at the Green Build Hub.

The Trust continues to offer free advice to Cornwall residents, community groups and town and parish councils on questions of sustainable building practices. If the advice requested is more extensive, the Trust engages its trading company Sustain Cornwall Limited to offer more in-depth consultations on a commercial basis with profits returned to the charity. Guided tours of the Green Build Hub have continued.

The effective use of the Green Build Hub building has continued with a continuing good relationship with Cornwall College and with the installation of webinar facilities and the Bright Suite is well-used. This has allowed the Trust to conduct meetings and workshops to an extended audience and to contribute with presentations at other like-minded organisations’ events. Cornwall College staff and students continue to be extremely pleased with the building, with its highly energy efficient environment and its location on the Eden Project site. It remains a busy, lively, positive learning community. We have now started the process to develop a five-year strategic plan to take into account what we do well and what we can do in what is an ever-evolving sustainable construction sector. Further work on this continues this year.

The CSBT trading company SW-Ecowarehouse remains dormant until we can establish the appropriate arrangements to make this a viable venture.

There have been regular Board and Management Meetings throughout the year. The Trust is gaining in strength, knowledge and expertise and is looking to a bright future. As with previous years, we continue to develop and expand our network of local employers, academics and like-minded organisations. We carefully assess our Risk Register, adding to it and re-assessing level of risks.

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

2

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Trustees’ Report (Including Directors’ Report) (continued)

For the year ended 31 January 2025

Achievements and performance

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between 1 - 2 month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

As of 31 January 2025, The Cornwall Sustainable Building Trust had unrestricted funds of £194,317.

Risks

The Trust has produced a register of risks, which is reviewed at every meeting. The trustees and officers continue to bring their experience and knowledge to assist the process of risk minimisation, the most significant of which is GBH rental income.

Structure, governance and management

The charity is a company limited by guarantee and is governed by its memorandum and articles. The Board of CSBT formed a Management Committee in 2015, consisting of the Chairman, a Trustee and the Voluntary Finance Director to deal with day to day activity.

The trustees, who are also the directors for the purpose of company law, and those who served during the year were:

D M Edmondson - Chair P Crossley Ms A Tatterton B Cocking

Recruitment of Trustees

We have had good engagement with other volunteers and specialists who may in time become Trustees. The Board of Trustees continues to work hard but are always actively searching for new trustees and/or secondments from other like-minded partners to fill the gaps with specific skill sets, notably from the private sector, legal and finance. Stewart Bradley has continued to provide excellent support and greatly assist the Trust as its Financial Director and as Chairman of Sustain Cornwall Limited.

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

…………………………..

D M Edmondson - Chair Trustee

Date: 20[th] February 2025

3

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Statement of Trustees’ Responsibilities

The trustees, who are also the directors of The Cornwall Sustainable Building Trust (Limited by Guarantee) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

Statement of disclosure to independent examiner

So far as the trustees are aware, there is no relevant information of which the charitable company's independent examiner is unaware. Additionally, the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant information and to establish that the charitable company's independent examiner is aware of that information.

4

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Independent Examiner’s Report to the Trustees of The Cornwall Sustainable Building Trust (Limited by Guarantee)

I report to the trustees on my examination of the financial statements of The Cornwall Sustainable Building Trust (Limited by Guarantee) (the charity) for the year ended 31 January 2025.

Respective responsibilities of The Cornwall Sustainable Building Trust and examiner

The trustees of The Cornwall Sustainable Building Trust are responsible for the preparation of the accounts and consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the 2011 Act.

• 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

• 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 Cornwall Sustainable Building Trust and a comparison of the accounts presented with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as The Cornwall Sustainable Building Trust members 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:

• to keep accounting records in accordance with section 130 of the 2011 Act; and

• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 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.

16 June 2025

Craig Chapman BSc (Hons) ACA Chapman Gain Chartered Accountants 4 Tregarne Terrace St Austell Cornwall PL25 4BE

5

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Statement of Financial Activities Including Income and Expenditure Account

for the year ended 31 January 2025

		Unrestricted	Restricted		Unrestricted	Restricted
		Funds	Funds	Total	Funds	Funds	Total
		2025	2025	2025	2024	2024	2024
	Note	£	£	£	£	£	£
Income from:
Donations and legacies	4	-	-	-	25	-	25
Other trading activities	5	24,950	-	24,950	15,695	-	15,695
Investments	6	51,617	-	51,617	50,511	-	50,511
		_	_	_	_	_	_
Total Income		76,567	-	76,567	66,231	-	66,231
Expenditure on:
Charitable activities	7	(52,970)	-	(52,970)	(61,512)	-	(61,512)
		_	_	_	_	_	_
Net incoming
resources before		23,597	-	23,597	4,719	-	4,719
transfers
Gross transfers
between funds		13,400	(13,400)	-	13,400	(13,400)	-
		_	_	_	_	_	_
Net income/
(expenditure) for the		36,997	(13,400)	23,597	18,119	(13,400)	4,719
year/ Net movement
in funds
Fund balances at
1 February 2024		157,320	193,154	350,474	139,201	206,554	345,755
		_	_	_	_	_	_
Fund balances at
31 January 2025		194,317	179,754	374,071	157,320	193,154	350,474

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

6

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Balance sheet

at 31 January 2025

			2025		2024
	Note	£	£	£	£
Fixed Assets
Tangible assets	12	603,294		618,047
Investments	13	1		1
		_		_
			603,295		618,048
Current assets
Debtors	14	2,549		24,873
Cash at bank and in hand		80,784		9,806
		_		_
		83,333		34,679
Creditors:Amounts falling due within
one year	15	(83,794)		(62,401)
		_		_
Net current (liabilities)/assets			(461)		(27,722)
			_		_
Total assets less current liabilities			602,834		590,326
Creditors: Amounts falling due after
more than one year	16		(228,763)		(239,852)
			_		_
Net assets			374,071		350,474
Capital and reserves
Restricted funds	18		179,754		193,154
Unrestricted funds			194,317		157,320
			_		_
Shareholders’ funds			374,071		350,474

7

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Balance sheet (continued)

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

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

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

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

These financial statements were approved by the Trustees on 16 June 2025 and were signed by:

D M Edmondson – Chair

Trustee

Company registration number 04614816

8

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements

1. Statutory Information

The Cornwall Sustainable Building Trust is a private company, limited by guarantee, registered in England and Wales. The company’s registered office address can be found on the Company Information page.

2. Accounting Policies

2.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2 Going concern

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

2.3 Charitable funds

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

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

2.4 Income

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

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

2.5 Expenditure

Expenditure is included on an accrual basis. The irrecoverable element of VAT is included with the item of expense to which it relates. Expenditure is recognised when a liability is incurred.

Charitable expenditure comprises those costs incurred by the charity in delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs represent board expenses and examiner's fees.

9

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

2.6 Tangible fixed assets

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

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

Leasehold land and buildings over the life of the lease Plant and equipment 10% per annum reducing balance

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

2.7 Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.8 Impairment of fixed assets

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

2.9 Cash and cash equivalents

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

2.10 Financial instruments

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

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

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

Basic financial assets

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

10

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

2.10 Basic financial liabilities

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

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

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

2.11 Exemption from producing group financial statements

The trustees consider the company to be exempt from preparing group financial statements as the aggregate gross income of the group would not exceed £1 million.

This treatment is consistent with paragraph 24.6 of the Statement of Recommended Practice ‘Accounting and Reporting by Charities: Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’

3. Critical accounting estimates and judgements

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

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

11

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

4.	Donations and legacies
		Unrestricted	Unrestricted
		Funds	Funds
		2025	2024
		£	£
	Donations and gifts	-	25
	Grants receivable	-	-
		______	______
		-	25
5.	Other trading activities
		Unrestricted	Unrestricted
		Funds	Funds
		2025	2024
		£	£
	Feed in Tariff	1,820	1,709
	Service charges	23,130	13,986
		______	______
		24,950	15,695
6.	Investment income
		Unrestricted	Unrestricted
		Funds	Funds
		2025	2024
		£	£
	Rental income	50,610	50,500
	Interest receivable	1,007	11
		______	______
		51,617	50,511
7.	Charitable activities
		Unrestricted	Unrestricted
		Funds	Funds
		2025	2024
		£	£
	Share of support costs (see note 8)	50,820	58,834
	Share of governance costs (see note 8)	2,150	2,678
		______	______
		52,970	61,512

12

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

8. Support Costs

Support Costs Governance Costs £ £ Depreciation 14,753 - Insurance 3,211 - Rent 2,500 - Management charges 13,000 - Computer costs 473 - Sundry expenses 590 - Legal/professional - - Irrecoverable VAT (9,759) - Bank charges 8 - Loan interest 26,044 - Accountancy - 2,150 ______ ______ _ 50,820 2,150 Analysed between Charitable activities 50,820 2,150	2025 Support Costs Governance Costs £ £ £ 14,753 14,797 - 3,211 2,984 - 2,500 22,500 - 13,000 - - 473 1,096 - 590 847 - - 58 - (9,759) (9,759) - 8 9 - 26,044 26,302 - 2,150 - 2,678 ______ __ ____ _ 52,970 58,834 2,678 52,970 58,834 2,678	2024 £ 14,797 2,984 22,500 - 1,096 847 58 (9,759) 9 26,302 2,678 ______ 61,512
		61,512

9. Net movement in funds

Net movement in funds
	2025	2024
	£	£
Net movement in funds after charging/(crediting)
Depreciation of owned tangible fixed assets	14,753	14,797

10. Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11. Employees

There were no employees during the year.

There were no employees whose annual remuneration was more than £60,000.

13

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

12. Tangible fixed assets

Leasehold land and buildings Plant and equipment £ £ Cost or valuation At 1 February 2024 737,459 10,413 Additions - - _ _ At 31 January 2025 737,459 10,413 Depreciation At 1 February 2024 123,447 6,378 Depreciation charged in year 14,349 404 _ _ At 31 January 2025 137,796 6,782 Net book value At 31 January 2025 599,663 3,631 At 31 January 2024 614,012 4,035	Total £ 747,872 - _ 747,872
	129,825 14,753 _ 144,578
	603,294 618,047

Land and buildings were revalued at 13 September 2013 by Miller Commercial Valuers Ltd on the basis of market value.

13. Fixed Asset Investments

Cost or valuation At 1 February 2024 and at 31 January 2025 Net book value At 31 January 2025 At 31 January 2024 Other investments comprise: Note 2025 £ Investment in subsidiaries 22 1	£ 1 1 1 2024 £ 1

14

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

14. Debtors Amounts falling due within one year: Prepayments and accrued income Amounts due from group undertakings 15. Creditors: amount falling due within one year Notes Bank loans 17 Other taxation and social security Amounts due to group undertakings Accruals and deferred income 16. Creditors: amount falling due after one year Notes Bank loans 17 17. Loans and overdrafts Bank loans Payable within one year Payable after one year Amounts included above which fall due after five years: Payable by instalments	_	2025 £ 2,549 - _____ 2,549 2025 £ 11,100 16,231 19,174 37,289 ______ 83,794 2025 £ 228,763 2025 £ 239,863 11,100 228,763 184,363	2024 £ - 24,873 __ 24,873 2024 £ 11,138 16,006 - 35,257 ____ 62,401 2024 £ 239,852 2024 £ 250,990 11,138 239,852 195,300	2024 £ - 24,873 ______ 24,873

The bank loans are secured by a fixed charge over the land and buildings and a floating charge over all other assets.

15

The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

18. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

	Balance at		Balance at 1		Balance at
	1 February	Transfers	February	Transfers	31 January
	2023		2024		2025
	£	£	£	£	£
Green Build Hub	206,554	(13,400)	193,154	(13,400)	179,754
	_	_	_	_	_
	206,554	(13,4000	193,154	(13,400)	179,754

Purposes of funds:

Green Build Hub

This restricted fund consists of funding from the ERDF for the development of a new building at the Eden Project and is reducing in line with the depreciation charged. It represents funding that has already been spent and is tied up in fixed assets (as demonstrated in note 19).

19. Analysis of net assets between funds

	Unrestricted	Restricted		Unrestricted	Restricted
	Funds	Funds	Total	Funds	Funds	Total
	2025	2025	2025	2024	2024	2024
	£	£	£	£	£	£
Fund balances at 31
January 2024 are
represented by:
Tangible assets	423,540	179,754	603,294	424,893	193,154	618,047
Investments	1	-	1	1	-	1
Current assets/(liabilities)	(461)	-	(461)	(27,722)	-	(27,722)
Long term liabilities	(228,763)	-	(228,763)	(239,852)	-	(239,852)
	_	_	_	_	_	_
	194,317	179,754	374,071	157,320	193,154	350,474

20. Related party transactions

Controlling party

The charity is controlled by the trustees who are all directors of the company.

Related party transactions

During the year, Sustain Cornwall Limited (the charity’s subsidiary) charged the charity £13,000 (2024: £nil) for management charges in relation to the maintenance of the property.

At the balance sheet date, the amount owed by the charity to the subsidiary was £19,174 (2024: £24,873 owed by the subsidiary to the charity).

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The Cornwall Sustainable Building Trust (Limited by Guarantee)

Notes to the Financial Statements (Continued)

21. Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

	2025	2024
	£	£
Within one year	2,500	2,500
Between two and five years	10,000	10,000
In over five years	22,500	25,000
	______	______
	35,000	37,500

22. Subsidiaries

These financial statements are separate charity financial statements for 31 January 2025.

Details of the charity’s subsidiaries at 31 January 2025 are as follows:

Name of	Registered office	Nature of business	Class of	% held
undertaking			shares held	direct/indirect
Sustain Cornwall	England	General construction and civil	Ordinary	100.00
Limited		engineering

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

ollows:
	Profit/(loss)	Capital and
		Reserves
	£	£
Name of undertaking
Sustain Cornwall Limited	64	260

The charity also controls Eco Warehouse Limited, a dormant company limited by guarantee.

17