THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Llmited by Guarantee) FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 Company Registration Number: 03428850 Charlty Registration Number: 1115855
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 CONTENTS Page Company Particula Report of the Trustees 2-6 Reports of the Auditors 7-10 Financial Statements ststement of Financial Activities Balance s&t 12 Cash Flow Statement 13 Notes to the Financial Statements 14-24 The following page does not forni part of the statutory flnanGlal statements Income and Expenditure Account 26
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED REFERENCE AND ADMINSTRATIVE DETAILS TRUSTEES: Mr I Cotter Cllr A King (Chair) Mrs B paer {Chairl (Resigned 1810612024) Mr B Carter (Resigned 1011212024) Cllr L Care Mrs C Clarke{Resigned 1810612024) Dr R Horry Mrs Claire Wilkins (Resigned 1810612024) Mr Roger Bennett (Appointed 1810612024) Mrs Sarah Welsh IAppointed1810612024) Mrs Anna Cluley (Appointed 0111012024) Ms Rachel Bennett IAppointed1810312025) COMPANY SECRETARY: Mr P Peat {Resigned 1710112025) TRUST MANAGER Mrs S Walton FINANCIAL OFFICER Mr M Kenyon County Hall Matlock Derbyshire DE4 3AG REGISTERED OFFICE: COMPANY REGISTRATION NUM8ER: 03428850 CHARITY REGISTRATION NUMBER: 1115855 AUDITORS: Apc Chartered Accountants and Registered Auditors 7 St John Street Mansfield Nottinghamshire NG18 1QH BANKERS; Lloyds Bank 1 Buver Place London SW1H OPR
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED TRUSTEES ANNUAL REPORT The Trustees, vtho are also directors of the charity for the purposes of the Companies Act, submit their annual rewrt and the audited financial statements for the year ended 30 September 2024. OBJECTIVES AND ACTIVITIES The principa activity of the company, which is limit by guarantee, is the awarding of grants to third parties, including Environmental Bodies for approved projects under the Landfill Communities Fund. Funding is CUrrenY drawn from two different landfill operators. Awards are m8de by a manageffEnt committee composed of nominees of local authoiities aThJ other public bodies and one private individual. The Trust acts as an approved Environmental Body for administering avRrds by Wall8y's Quarry {formerly Red Industries) and Tarmac (formerly Lafarge Tamacl. Since 2005 the Trust has teen responsible for administering the Tarmac Landfill Communities FuTrl nationally. The Trust has managed the Walleys Quarry Community Fund in parts of Staffordshire since 2017, In addition, the Trust manages non Landfill Communities Fund grant %hemes from time to time, in particular Lodge House Surface Mine Community Fund12012 - 2016) and partof the Agggatss Levy Sustainability Fund (2002- 2011), DET'S success is measured against its oty'ecliv8s of awarding grants in *cordance with the rules and criteria of eath fUrer whilst r8COV8ring operating costs from adminislralivg fees, The Trust's success is also assessed by ENTRUST against HMRC'S targets for Environmental Bodies - that unspent funds should be no more than 1.5 times irKome; arKI to keep adfflinistration costs within 7.5 0/0 of annual project expenditure (and endeavour not to transfer funds to Environmental Bodies with costs above this level). Publlc 8eneflt In order to ensure the Trust continues to benefft the public, it airns to manage funds and distribute grants on behalf of the Trust's fvinders correctly and fairly in accordance with the rules and criteria of each fund, The Trust aims to award grants to schemes which will lead to long term and sustainable improvements to people's quality of life and the enviionment, The Trust works to ensure that its operations are compliant with the Charity Commissions Guidelines and the requirements of the Landfill Communities Fund and those of any other fund il manages. The Trust values the vital contribution volunteers make to projects it supports. As well as providing a vital source of labour and expertise for the benefit of the wider communrty, volunteers can also develop new skills which will benefit them in the future. (knnership of a project is also important to the Trust. Public benefit is maximised by supporting projects that will be owned and operated by a local authority or a committee or group appointsd by the Ial community. The sustainability and environmental aspects of projects are also important to the Trust, To have a wider public benefit projects should have a long term future and minimise environmental impacL Finally, in order to maximise public benefit the Trust has supported projects that improve access for people with disabilib'es and fflobility difficulties.
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED TRUSTEES ANNUAL REPORT ACHIEVEMENTS AND PERFORMANCE Achievements1997 - 2024 Since 1997, over £33m has been secured through the Trust for projects under the Landfill Communities Fund, with the range of Landfill Communities Fund grant awarded from £300- £603,000 (average £24,750) During this lime funding has been secured for almost1,330 Landfill Communities Fund projects of which approximately 642 are in Derbyshi. Proj6rts funded outside Derbyshire are mainly managed by the Trust for Tamac or Walleys Quarry. During this financial year total funding of £1,097,215 has been secured under the LCF with the range of awards from £1,380 to £123,000 (average £21,514). In total 51 projects were supported of which 12 were in Derbyshire During year another round of the DET Funding Scheme was held with frjnding from reserves. In selecting which projects to support through this Fund, the Trust aimed to give consideration to environmental impact I carbon reduction and energy efficiency and ststed a preference not to support projects reliant on fossil fuels where alternatives are an option, and also to take note of the level of deprivation in the area of the project, A total of £75,796 was awarded to 6 projects, all within Derbyshire: Findern Footpaths GrDUP - Cote Close 2024 Thorpe Village Hall - Installatson of Green Energy Killamarsh Parish Council - Solar Project, Killarnarsh Community Hub (completed May 24 with underspend of £3,790) Rykneld Bowling Club - Energy Saving Projecl Chesterfield Canal Trust - Landscaping & Links Project {withdrawn by applicant October 2024) People ExpresslHatton Parish Council - Jubilee Peace & Hope Garden (withdrawn by applicant Octotser 2024} Since 1997 the work of the Trust has been supported by a range of Landfill Operators and Environmental Bodies of which the principal funders have been Tamiac If0mrIY Lafargel, Walleys Quarry {fomierly Red Industries), Viridor Credits, Biffa Award, Global Environmental, Hanson Environmental Fund, Veolia Environrnental Trust, Cemex Communty Fund and WREN. Frorn b'me to time the Trust has also managed non landfill funds in particular part of the Aggregates Levy Sustainability Fund and a Section 106 Fund on behalf of UK Coal and Derbyshire County Council. Whilst the Trust is always interested in exploring the possibility of managing other funds at the present time it is solely managing landfill funding. Currently projects managed by the Trust are supp)rted with grants awarded by Tamac and Walleys Quarry. The Trust acknowledges their support with thanks. Flnanclal revlew During the year, the Trust received restricted funding of £827,63312023: £1,225,750) frn landfill operators and other Environmental Bodies, including allocated interest the Tfust also allocated £75,79612023 £102,019) of its own funds, added to the restricted reserves brought ftjrward of £2,289,135 as restated {2023,' £3,053,051 as restated) there was a total of £3,192,564 (2023.. 4,380,763} available for funding projects under the Landfill Communities Fund. The Trust board met 3 times during the year and allocated £1,052,935 {2023'. £1,787.969) to 55 (2023. 64) projects. During the year 83 (2023. 68) projects met the funding criteria and were paid a total of £1,906,615 {2023'. 2,093,030 as restated) leaving restricted reserves carried forward of£1,300,95512023.' £2,289,135 as restated). The deficit (2023'.deficit) for the year was £1,062,739 {2023: £810,192) which reduces reserves. This is made up of a deficit after transfers, of £74,559 {2023'. 46,276 as restated) on the unrestricted fijnd and a deficit of £988,180 (2023..
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED TRUSTEES ANNUAL REPORT £763,915 as reststedl on the restricted lund. The net Itquid assets of the charity have decreased to £1,754,864 {2023'. decreased to £2,817,603). The principal funding sources are Tarmac and Walleys Quary . Over the course of the y8ar donations from both the Trusvs contributing Landfill Operators d6cr8ased significantly. This reflects both an industry wide trend for less waste going to landfill and also particular circumstances relating to the landfill srtes ofeath of the Trust's conlribuling Landfill Operalci& Al th8 same time the Trust's costs, which largely comprises staffing recharges by Derbyshire County Council, have been increasing. The Tnjst is aware of these issues and will be considering how to manage these challenges over the coming months. Investment powers and pollcy Under the terms of the Memorandum and Articles of Asscciation, the charity has the power to invest in any way the Trustees wish. Reserves pollcy The Trustees have established as at 30 Septsmber 2024 the total level of uniestricted reserves held amounting to £453,909 {2023.' £528,468 as restated) to provide a bLrfter for uninterrupted services due to any unforeseen future events. This represents approximately 58 months administrative costs and will be kept under review. Plans for future periods Tarmac are expected to continue lo provide funding for the foreseeable future. However Walleys Quarry landfill srte was issued with a closure notice by the Environment Agency in November 2024 and the company went into liquidation in February 2025. The Trust will be considering how to manage these challenges over the coming months. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Derbyshire Environmental Trust Limited is a charitable company limited by guarantee and was incorporated on 29 August1997. It is governed by a Memorandum and Articles of Associats'on dated 29 August 1997 and updated in June 2006, May 2010, May 2012, and May 2018,1ts objects are to award grants to third parties, including Environmental Bodies for approved projects under the Landfill Communikn'8s Fund. It is registered as a charity with the Charity Commission, Appointment of Trustees New Trustees are normally invited to join the Trust by the board, after having been nominated by their respecl've member bodies. The appointmentls made at the first available meeting after receipt of Ihe nomination. The Trustees of the company are also Trustees of the charity under the company's Articles and are members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the member5 of the Management Committee are elected to serve for a period of one year after which they must be rfrelected at the next Annual General Meeting IAGM). All members are circulated with invitations to nominate Trustees prior to the AGM advising them of the retiring Trustees and requesting nominations for the AGM.
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED TRUSTEES ANNUAL REPORT Trustee induction and training New Trustees uThJergo an orientstion process to brief them on their legal obligations under charity and company law, the contsnt of the MoranduM and Arlicles of Associats'on, the committee and decision making prfKesses, the business plan and recent financial perf0rnan of the charity. During the induction they are invited to meet key employees and other Trustees. Organisation The board of Trustees usually meet four ts'mes a year to review the strategy and perfomance and to t the operating plans and budgets. The Financial Officer vrkS closely with the Trust Manager to ensure that the income charged by the Trust is sufficient to keep the TNst viable. The Financial offr submits up to date fInarla1 reports to Trustees meetings, showing the Trusts current financial position. Internal controls The charity has set systems of intemal control, which are designed to provide reasonable, but not absolute, assurarKe against material misstatement or loss. They include: A strategic plan and an annual budget and quarterfy revrews, approved by the Trustees. Regular consideration by the Trustees of financial results, variance from budgets, non-financial perfornanGe indicators and benchmarking reviews. Delegation of authority and segregation of duties. Identrfication and management of nsks. The Trustees have also set the following policies on internal control.. Clarified the responsibility of management lo implement the Trustees, policies and identify and to evaluate risks for their considerati'on. Communicated that employees have responsibilty for intemal control as part of their accountsbility for achieving objectives. Embedded the control system in the charity's operations so thal11 becomes part of the culture of the charity. Included procedures for reporting failings immediately to appropriate levels of manaJement and the Trustees together with details of corrective action being undertaken. Risk management The Trustees have a risk management strategy which comprises.. An annual VIeW of the risks the charity may fwR, along with new risks as they arise. The establishment of systerns and pKKedures to mitigate those risks identified in the plan. and The implementation of procedures designed to minimise any potential impact on the chanty should those risks materialise. This wort has identified a limited number of risks, but has resulted in better procedures and contingenGy plans and has given the impetus for LEtter planning. ProureS are in Pla to ensure compliarKe with health and safety of staff and visitors to the premises. A key element in the management of financial risk is the continued review of the level of reserves.
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED TRUSTEES ANNUAL REPORT TRUSTEES RESPONSIBILTIES The Trustees in office durirvJ th8 y6ar are listed on page 1. Aso listed on page 1 is th8 charity's registered number, the charity's registered office addr8ss and the charity's bankers. The Trustees (who are also directors of The Derbyshire Environmental Trust for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial slalem6nls in accordance with q)plicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practi). Company law requires the Trustees to prepare financial ststements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view ofthe st of affairs of the charitable company and of the incoming resources and application of resources, including the ir¢ome and expenditu, of the charitable company for that period. In preparing these financial stments, tTr Trustees are required select suitable accounting policies and then apply them consistently., observe the meth()Js and principles in the Charities SORP 2019 (FRS 102),. make judgements and estimates that are reasonable ar)J prudent., stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial sitiOn of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware.. there is no re16vant audit information of which the charitable company's auditor is unaware., and the Twstees have ta(en all steps that they ought to have tsken to make themselves aware of any relevant audit infonnation and to establish that the auditor is aware of that information. AUDITORS The auditors Apc are deemed to be re-appointed under section 487{2) of the Companies Act 2006. The report of the Trustees has been prepared in accordance with the special provisions of Part15 of the Companies Act 2006 relating to small companies. On behalf of the b¢)ard of Trustees Trustee fr i)/,l., Dated
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED Opinion We have audited the financial slalements of The Derbyshire Environmental Trust Limited (the 'charilable company'l for the year ended 30 September 2024 which comprise primary statements such as the Ststement of Financial Activities, Balance Sheet and notes to the finarla1 statements, including a summary of signrficant accounting policies. The financial reporting framewoth that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applKab18 in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the slate of the charitable company's affairs as at 30 September 2024, and of its incoming SoUrS and application of resources, including its income and expenditure, for the year then ended,. have been proFerly prepared in accordance wrth United Kingdom Generally Accepted Accounting Pr&tice,' and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial ststements section of our reFQrt. We are independent of the company in aCcOrdae wrth the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial ststements, we have concluded that the Trustees, use of the going concem bass of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identifd any material uncertants'es relating to events or conditsons that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for iss. Our responsibilities and the responsibilities of the Trustees with respect to going corKem are described in the relevant secti'ons of this report. Other inforniation The Trustees are responsible for the other infomation. The other infomation comprises the information included in the rewrt of the Trustees, other than th8 financial statements and our auditor's report there(. Our opinion on the financial statements does not cover the other information and, expt to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibilty is to read the other infomiation and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in tIE course of the audit or otheiSe apFears to be malerially misstated. If we idenbfy such material InconsisterleS or apparent material misstatements, VR are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the rk undertaken in the course of the audit.. the infonnation given in the Trustees, report (incorporating the directors, report} for thè financial year for vthich the financial statements are prepared is consistent with the financial statements., and the dIrt0[8, report has been prepar6d in accordance with applicable18gal requirements, Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified ma18rial misstatements in Ihe directors, r8POrt, We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 r6yuires us to report to you if. in our opinion.. adequate accounting records have not been kep( or retums adequats for our audit have not been received from branches not visrted by us,. or the financial staterrents are not in agreement with the accounting records and retums., or certain disclosures of directCfS' remuneration sp8cifi8d by law are not maje,. or we have not received all the Infomats' and explanations V require for our audit the Trustees were not entitled to prepare the financial statements in accoidance with the small companies, regim8 and take advantage of the synall companies, exemptions in preparing the directors, report and from the requirement to prepare a stralegic report. Responslbllltles of Trustees As explained more fully in the Trustees, responsibilities statement set out on page 6, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied thatthey give a true and fair view, and for such intemal control as the TrUStS determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are resp)nsib18 for assessing the chari18b18 company's ablllty lo contsnue as a going concem, disclosirg, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilitles for the audit of the financial statsments Our obj'ectives are to obtain reasonabk assuran about whetherthe financial statements as a whole are free from material misstatement, whether du8 to fraud or error, and lo issue an auditor's report that includes our otinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, indivijually or in the aggregats, they could reasonably be expectgj to influence the economic decisions of users tsken on the basis of these financial statements.
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED Irregularities, including fraud, are instances of noniompliance with laws and regulations. We design prttedures in line with our responsibilities, outlined above, to detect material misststements in respect of irregularities, induding fraud. The extent to which our procedures are capable of detecting irregularities, includiNJ fraud is detailed below.. Because of the inherent limitstions of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the fi'nancial statements, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud ratIr than error, as fraud involves intentional ¢0ealMent, forgery, collusion, omission or misrepresentstion. Identifylng and assessing potenllal rlsks related to irregularltles As detailed alx)ve we carried out our audit in line with the appropriate guanCe. In regards to our prOdureS during the initial plannirvJ, onsite work and final review stages we assessed our audrt plan against the charvJing environments and updated wherever appropriate. In identifying and assessing risks of material misstatement in respect of irwularities, including frdud and non-compliance wth laws and regulations. we have considered and carried out a background infornation assessment on the company and Icwjked at all of the appropriate laws and regulab'ons that the company must abide with. These included GDPR, Health & Safety and the Charities SORP. The synificant laws and regulations in regards to the business in addits'on to Companies Act, Health & Safety and GDPR are regularly reviewed by the companls management and updated for compliance. Audlt response to risks identlfled As a result of perfomiing the above, we identified incorne recognition as key audit matters related to the potential risk of fraud or error. Our Specif procedures in this regard are as follows.. Agreement of all income to bank statements Re-calculating deferred Irome Agreement of amounts paKI out to supporting dccuments Re-calculating IrMe in unrestricted fund In addition to the above, our PredureS to respond to risks identifred included the following.. Reviewing the financial statement disdosures and testir)3 to supporting documentation to assess compliance with provisions of relevant laws and regulations, which have a direct effect ¢)n the financial statements Making enquiries of management,. We used limited analytical review prOdureS during our audit work and plad more reliance up on our transactional and detailed audit tests'ng. Our analytscal review for highlighting trends were then reviewed and assessed aJainst our detailed testing work. As part of an audit in accordarKe with ISAS (UKI, we exercise professional judgment and maintain professional scepticisrn throughout the audit. We also: Identify aryj assess the risks of makrial misststement ofthe financial statements, whether due to fraud or error, design and perfomi audit procedures resFonsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecling a material misstatement resuth'ng from fraud is higher than
NDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit prOdureS that are appropriate in Ihe circumstances, but nal for the purpose of expressing an opinion on the effectiveness of the charitable company's intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Truste8s' use of the going wncem basis of accounting and, based on th6 audit evidence obtained, whether a material unrtainlY exists related to events or conditions that may casi significant doubl on the charitable company's ability to continu8 as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the r81at8d disclosures in the financial statements or, if such disclosures are inadequate, to modrfy our opinion. Our conclusions are based on the audit evidence obtaned up to the dat8 ofour auditor's report, However, futur8 events or conditsons may cause the charitable MpanY lo cease to conts'nue as a going concem. Evaluate the overall presentation, strLKture and content of the financial statements, including the disclosures, and whether the finanGial statements represent the underfying transacttons and events in a manner that aGhieves fair presentation. We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficEncies in internal control that we identify during our audit. Use of our report This r8POrt is made so181y lo the charitable company's members, as a body, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006, Our audit work has been undertaken so Ihalwe might stale to the charitable company's members those matters we are requir8d lo state to them in an audilo¢s report and for no other purpose. To th8 fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitsble company's mnber8 as a body, for our audit vrk, for this report, or for the opnions we have fomied. Matthew Higglnson FCCA (Senlor StatutoryAudltor) For and on behalf of Apc Accountants Limited Chartered Accountants and Statutory Auditors 7 St John Street, Mansfield, Nottinghamshlre, NG18 1QH Dale,. l? 10
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) YEAR ENDED 30 SEPTEMBER 2024 Total funds 2024 Total funds 2023 as restated Unrestricted funds Restrlcted funds Note Income Income from charftable activities: Tax credts reIved 116,898 827,633 944,531 1,409,895 Investment income 11,818 10,424 22,242 12,275 Total income 128,716 838,057 966,773 1,422,170 Expendlture Expendlture on charitable actfvitles: 122,813 1,906,699 2,029,512 2,232,362 Total expenditure 122,813 1,906,699 2,029,512 2,232,362 Net income l (expenditure) before transfers and taxatlon 5,903 {1,068,6421 11,062,739) (810,192) Transfer between funds 12 (80,462) 80,462 Net Income l (expenditure) for the year 174,559) 1988,180) 11,062,739) (810,192) Reconclllatlon of funds Fund balance brought forNard at1 October 12 528,468 2,289,135 2,817,603 3,627,795 Fund balance carrled forward at 30 September 12 453,909 1,300,955 1,754,864 2,817,603 All of the above are derived from continuing activities. All gains and losses recognised in the year are included atJ)ve. The notes on pages 14 to 24 fonn part of these financial statements
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) BALANCE SHEET YEAR ENDED 30 SEPTEMBER 2024 Note 2024 2023 as restated CURRENT ASSETS Cash at bank and in hand 1,810,3 2,832,241 Other debtors 10 1,598 1,811,988 2,832,241 CREDITORS: Amounts falling due within orE year 11 (57,124) (14,638) 1,754,864 2,817,603 NET CURRENT ASSETS 1,754,864 2,817,603 FUNDS Restricted funds Unrestricted funds General funds 12 1,300,955 2,289,135 12 453,909 528,468 1,754,864 2,817,603 These accounts are prepared in accordance with the special provisions of Part15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for Circulation to the members of the company. Signed on behalf of the Board of Truste6s Trustee Company Registration Number.. 03428850 The notes on pages14 to 24 form part of these financial statements 12
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Llmlted by Guarantee) CASHFLOW STATEMENT YEAR ENDED 30 SEPTEMBER 2024 Note 2024 2023 as restated Net cash oufflow (inflow) from operating acts'vities16 11,044,093) (874,083) Cashflows from financial activities 17 22,242 12,275 Change in cash and cash equivalents in this reporting penod 18 (1,021,851) (861,808) RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET CASH FUNDS Net Funds at1 October 2,832,241 3,694,049 Net Funds at 30 September 1,810,390 2,832,241 13
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 1. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key Sour of estimation uncertainty in the preparation of the financial statements are as follows: Summary of significant accounting policies a) General Infomiatlon and basis of preparatlon The Derbyshire Environmental Trust Limited is a private company limit by guarantee registered in England and Wales. In the event of the chanty being wound up, the liability in res of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in th8 charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities is the avRrding of grants to third parties, including Environmental Bodies for approved projects underthe Landfill Communities Fund, The charity conststutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Chaiities: Statement of Recommended PraGtice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Stsndard applicable in the Unrted Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, Companies Act 2006 and UK Generalty Accepted Accounting Practi. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ unless stated othenyise in indivhdual notes The significant accounb'ng policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise ststed. b) Funds Unrestricted furKls a available for use at the discretion of the Trustees in furtheran of the general objectives of th8 charty and which have not been designated for other purposes, Restricted funds are funds which are to be used in accordance with specific restrictions impjsed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged a3ainstthe specrfic fund. The aim and use of each restrict fund is set out in the notes to the financial statemnts c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perfomance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 14
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 c) Income recognition (continued) The Trust receives income from landfill operators and occasionally other Environmental Bodies under the Landfill Communities Fund for the pUse of funding communty and environmental projects. The income from the landfill operators charged to the Statement of Financial Activiltes when the funding is e1Ved by the Trust as this is the point at which the Trust is legally responsible for the funds. The Landfill Communities Fund monies are held for SFending on community and environmentsl projects the income is credited to the restricted reserv6. Of the Landfill Communities Fund, the Trust receives a fee (usually 7,50/0 of e&h project approved or each donation received) for administering the projects and this is credited to the unrestricted reserve. As the income relates to specffic projects, th& administration fee is deferred over the life of each project. Gifts in kind for distributs'on are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income en they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third paty is bearing the cost. No amounts are included in the financial statements for Servi donated by volunteers. Interest income is included in the SOFA when it has been earned. d) Expenditure recognltlon All expenditure is accounted for on an accruals basis and has been classrfied under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal orconstructive obligation to make payments to third parts'es, it is probable that the settlemenl will be required and the amount of the obligats'on can be measured reliably. All overhead expenditure is accounted foron an accruals basis as a liability is incurred. ExpEnditure includes VAT which cannot be recovered arKJ has been classified under headings that aggregats all costs related to the category as follows,. Costs of generating funds comprise the costs associated with attracting vcluntary income. Charitable expenditure comprises th¢)se costs incurred by the charity in the delivery of its activities and seniices for ts benefKiaries. It includes both costs that can be allocated directly to stKh activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity arKI include the audrt fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to retlect the use of the resource. Costs relating to a particular activity are allocatsd directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in note 5. Awards to appIants are allocated to projects during the year and are charged to the SOFA when the grant claim is submitted by the applicant, and can be identifi'ed as Meeting the requirements forthe grant. Once the requirefflent of the grant are met, the furKls are transferred to the SOFA and current liabilities. 15
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 d) Expenditure recognltion (contlnued) Admin fees are charged to the SOFA over the life of each project, the admin fee deferred at the balance sheet date is detemiined by the stage of completion of each project. IecoVerable VAT is charged as an expense aganst the activity for which expenditure arose. e) Debtors and credltors receivable I payable within one year Debtors and creditors with no stated interest rate and recervable or payable within one year are rerded at transaction price. Any h)sses arising from impaimient are recognised in expenditure. fjTax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Acl 2010 and therefore it meets the definrtion of a charitable company for UK corporatson tax purposes. g) Golng concern The financial statements have been prepared on a going conrn basis as Trustees believe that no material uncertainties exisL The Trustees have considered the level of fvIS held and the expected level of income and expenditure for12 months from authorising these financial stalements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concem 2. INCOME Unrestrfcted Income Restrlcted Income Total 2024 Total 2023 restated Income from charltable activiti•s Landfill operators 116,898 827,633 944,531 1,409,895 116,898 827,633 944,531 1,409,895 Investment Income Bank interest received 11,818 10,424 22,242 12,275 Total incoming resources 128,716 838,057 966,773 1,422,170 Total incoming resources 2023 as restated 190,410 1,231,760 1,422,170 16
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 3. GRANTS PAID IN FURTHERANCE OF THE CHARITY'S OBJECTS Grants paid by category (per Landfill Tax Regulations 1996): 2024 £'ooo 2023 £'ooo Category A Remediation of land Category B Reduction of pollution Category D Public amenities Category DA Conservation of biodiversity Category E Restoration of religious buildings or buildings of historical interest Non Landfill Community Fund Grants 1,906 2,083 Non Grants paid during year 1,906 2,083 4. GRANTS PAID IN FURTHERANCE OF THE CHARITY'S OBJECTS Analysls of Charltable Awards in the year Grant Reclplent £'ooo Nature of award Buxton Park Bowls Club Nether Kellet Parish Council 81gg1esvrth Arts Collective CIC Friends of Cromford Canal Killamarsh Parish Council Great Rocks Social and Industrial Club 12 Selbourne Parish Council 12 Over Kellet Jubilee Bells Project Working Party 12 Horstead with Stanninghall Parish Council 12 Coltishall Parish Council 13 Mountsorrel Parish Council 14 Bedale Sports Club & Community Centre 14 The zir Project CIO 15 St Michael & All Angels Church, Earl Sterndale 15 Rothley Ivanhoe Tennis Club 15 Skipton Community Sports Hub 15 Tideswell Bowls Club 16 Kirkby Portland Cricket Club 16 Clough Hall Bowling Club 16 mayrld Recreational Association 18 High Peak Theatre Tnjst operating as Buxton Opera House Carried forward to next Page 10 10 10 Rebuild of access paths and seats project Play area The BIGG Theatre Beggarlee extsnsion Solar project Energy efficient project New children's play area St Cuthbert's Church Replacement slide, Horstead Cricket pavilion renovation Repoints'ng Castle Hill memorial & new chains Solar panel project Renovations at Zinc HQ, Buxton Kitchen & toilets project Rothley tennis LED floodlights New cofflmunity social space New floodlighting installation project Cricket net improvements Clough Hall Bowling Club Mayfield Community Playground 18 Anniversary access project 285 17
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED ILlmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 4. GRANTS PAID IN FURTHERANCE OF THE CHARITY'S OBJECTS Analysis of Charitable Awards in the year Icontinued) Grant Recipient £'ooo Balance broughl forward from previous pa3e 285 Swithland Memorial Hall Salcare Thorpe Village Hall Montgomery Canal Restoration Trust Tumditch Village Hall Committee Collingham Tennis Club Cheadle Cricket Club Audley Football Club Newcasde Town Football Club Youth Bolsover District Council Nature of award 18 18 19 20 20 20 20 20 20 21 Swithland Memorial Hall refurbishment project Solar panels Green energy project Montgomery Canal restoration Playground renovation Lighting project New practi facilits'es Grounds maintenance equipment Grounds maintenance equipment Whilwell Land Development - comrnunity & sensory garden Protection, maintenance & improvement of Millennium Square, Bristol Clubhouse extension Children's playground Floodlight replacement project Thorpe Meadows bridge replacement Community play area improvement History room project New practice net facility Refurbishment Toilet refurbishments Education centre Westholme Court play area Parf( St Playground transfomiation project, phase 4 St Mark's Church Shelton under one roof project We the Curious Peterborough City Rowing Club PaNiich Parish Council Colligham Foott)all Club Nene Park Tnjst Levs Play at 8ernards Heath Kirkby Fleetham Village Hall Charity Oakmere Cricket Club Northwood Parish Hall MeThJen Village Hall Ecclesboume Valley Railway Association Masham Parish Council St Stephen Parish Council Parochial Church Council of trie Ecclesiastical Parish of Hanley St Stephen Parish Council Lutterworth Athletic Football Club West Tanfield Memorial Bowls Club Future Leisure in Coxhoe Winster Playing Fields Association Historic England Wirksworth Regeneration and Development cic Fairfield Club Ltd 22 22 22 25 25 25 25 25 28 30 33 34 35 35 41 42 42 43 45 48 50 Park St playground transformation project, St Albans Clubhouse extension Renewal of green surround & repair of green edges Active Life Centre - Solar panel installation Refurbishment of children's play area, Winsler playing fields Thornborough Henges Wirksworth community skatepark 54 Fairfield b)wling pavillion 1,232 18
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 £'ooo 1,232 54 54 56 59 60 60 65 67 83 Balance brought forward from previous page Buxton Rugby Union Football Club Christ Church Corbridge Langar cum Bamstone Parish Council Stainforth Village Hall Langwith Cricket Club Quamford & Heathylee Morial Hall Ferryhill Tovm Council Bishop Middleham Parish Council Wood Lane Cricket Club Phase 2 recovery plan Repairs prqect Village hall Upgrade Stainforth villlage hall Fencing and grounds improvement Upgrade village hall facilities Ferryhill renewables project Regeneration phase 2 New disabled toilet & kitchen heffle Grants paid over £10,OCKI Grants paid under £10,000 1,790 116 Total grants paid 1,906 5. TOTAL EXPENDITURE Basls of costs Tolal 2024 Schemes Governance Total 2023 as restated Costs dlrectly attrlbutable to activities Awards to applicants Administration Entrust fees Professional fees Dlrect Direct Direct Dlrect 1,906,615 65,606 29,379 1,906,615 87,534 29,379 5,414 2,083,239 94,334 49,059 4,512 21,928 5,414 Supporting costs allocated to actlvltles Insurance General expenses Transactlons Transactions 76 168 258 68 334 236 334 884 Total expenditure 2024 2,001,844 27,668 2,029,512 2,232,362 Totsl expenditure 2023 2,208,236 24,126 2,232,362 Of the total expenditure, £1,906,69912023: £2,093,030 as restated) was attrtbutable to the restn'cted fund and £122,813 (2023.. £139,332 as reststed) was attributable to the unrestricted fund. 19
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 Net incoming resources for the year are ststed after charging: 2024 2023 as restated Audit fee 6. TRUSTEES REMUNERATION AND RELATED PARTY TRANSACTIONS No Trustee has claimed for any remuneration during the year (2023: None). During the year £Nil in travel expenses were paid to Truslees (2023.. £211, No Trustee or other person related to the charity had any personal inlerest in any contract or transaction entered into by the charity during the year (2023.. £nil) other than the transactions disclosed above. Owing to the nature of the environmental Trust and the compositson of the board of Trustees being drawn from local public and private sector organisations, transactions may take place with organisations in whh the Trust has an interest. All transactions involvir)g such organisations are conducted at arm's length and in aGcordance with the Trust's financial r8gulations and normal procurement procedures, All project expenditure is authoris&J by the board as a whole including the main Trust funders Tarmac and Walleys Quarry who approve the project related expenditure. During the year, £Nil in grants were paid to Derbyshire Wildlife Trust (2023. £17,084) a Charitable Company in which Mr B Carter is involved. During the year, £18,174 in grants were paid to Salcare Limited (2023.. £18,174 approved) a Charitsble Cofflpany in which B Parker is involved through Rural Action Derbyshire. During the year, £8,820 in grants were paid to Ozzy Wheels BMX Limited (2023.. £8,820 approved) whrch is a Derby City Council supported project where Cllr L Care is a councillor. 7. STAFF COSTS There We no employees during the year {2023.' none). No employee received remuneration in excess of £60,000 (2023,. none) Although the Trust has no employees, 2 (2023.. 2) memkrs of staff are employed by Derbyshi County Council (DCC) to work solely for the Trust. Slaff costs are also recharged from DCC for financial and legal servIs. These employment costs are recharged to the Trust and included within the recharge figure noted in note 6 above. Total amounts recharged in respect of staff costs during the year Vre £87,534 (2023.. £84,627). The total amount of Trustee and key management personnel benefits (including recharged amounts) was £83,226 {2023'. £80,859). 20
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED {Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 8. TAXATION As a charity, The Derbyshire Environmental Trust Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act1988 or s256 of the Taxation of Chargeable Gains Act1992 to the extent that these are applied to its charitable objects. No lax charges have arisen in the charity. 9. CASH AT BANK AND IN HANO 2024 2023 as restated Restricted fund Unrestn'cted fund 1,344,099 466,291 2,289,135 543,106 1,810,390 2,832,241 10. DEBTORS 2024 2023 as restated Other debtors 1.598 1,598 11. CREDITORS: Arnounts falllng due within one year 2024 2023 as restated Accruals and deferred income Grants approved not yet paid Other creditors 13,980 43,144 14,638 57,124 14,638 The aggregate amount of secured liabilities is £Nil (2023.. £Nill. 21
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 12. STATEMENT OF FUNDS At30 September 2024 At 1 October 2023 as reststed Income Expenditure Transfers General reserve 528,468 128,716 122,813 (80,462) 453,909 Total unrestrlcted funds 528,468 128,716 122,813 (80,462) 453,909 ReStrt funds: Schemes 2,289,135 838,057 1,906,699 80,462 1,300,955 Total restricted funds 2,289,135 838,057 1,906,699 80,462 1,300,955 Total funds 2,817,603 966,773 2,029,512 1,754,864 The restricted fund represents funding speCifallY for the on-going schemes of the charity of which £1,205,734 (2023.. £2,103,127 as restated) has been allocated against fijture projects that have not yet fulfilled the condition for payment Unrestricted general funds represent the administration fees agreed with the landfill operators for MinIstering the environmentsl projects carried out by the Trus( these funds can be used for.. a) To provide fvnds which can be designated to Specif projects to enable these schemes to be undertaken at short notice,. and b) To cover management administration fund-raising and support costs without which the charity could not function. and c) To provKle an accumulatson of funds for future development opportunities designed to fvrther the objectives of the charity. The Trustees consider it prudent that unrestricted rpserves should te sufficient.. a) To cover two yearfs management, administration, fund-raisiTrJ and support costs,. b) To cover the expected future winding up cosls of the Trust. Unrestricted reseNes are currently above that rdnge. Material transfers between reserves The Trustees agreed to transfer £75,796 {2023'. £102.019} from its unrestricted reseNes to restricted reserves during the year in order to apply futher funds to its charitable objectives as the Trustees telieve they have Sufflent Unrestrict reserves to continue as a going concem. 22
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 13. PRIOR YEAR ADJUSTMENTS There has been a restatement of the opening resenies of £55,314 between the unrestricted and restrrcted reserves. There was a miscalculation of the split of bank interest received between the unrestricted and restricted reserves of£22,966 that should have been allocated to the unrestricted reseNe as this relates to interest received on the bank balance held for unrestricted purposes in line with the fvnding agreement. There is also an adjustment for £32,348 which lateS to admin fees and plaques that were allocated against the unrestricted reseNe in previous years which the income related to this was oUnted for under the restricted reserve. At30 September 2023 At30 September 2023 as restated Interest adjustment Admin expenses adjustment General reserve 473,154 22,966 32,348 528,468 Total unrestricted funds 473,154 22,966 32,348 528,468 Restricted funds.. Schemes 2,344,449 (22,966) (32,348) 2,289,135 Total restricted funds 966 Total funds 2 817 603 2 817 603 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restrfcted funds 2024 2023 as restated Total General funds Total Funds balance at 30 September 2024 are represented by: Current assets Current liabilikn'es 1,344,099 143,144) 467,889 (13.980) 1,811,988 (57,124) 2,832,241 (14,638) Total net assets 1,300,955 453,909 1,754,864 2,817,603 23
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 15. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES The charitable company has no capilal commitments or contingent liabilities at the balan sheet date. 16. RECONCILIATION OF NET INCOMEIEXPENDITURE TO NET CASH INFLOW FROM OPERATING ACTIVITIES 2024 2023 as restated Net (expenditure) l income for the reporting period (as per the Statement of Financial Activities) Interest received Increa I Idecreasel in creditors Ilncrease}I decrease in debtors (1,062,739) 122,242) 42,486 (1,598) (810,192) {12,275) {51,616) Net cash (used) I provided by operatirvJ activities (1,044,093) (874,083) 17. CASHFLOW FROM FINANCING ACTIVITIES 2024 2023 Interest received 22,242 12,275 Net cash inflow from financing activities 22,242 12,275 18. ANALYSIS OF CHANGES IN NET FUNDS At1 October 2023 At30 September 2024 Cashflows Cash at bank 2,832,241 (1,021,851) 1,810,390 2,832,241 (1,021,851) 1,810,390 24
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 The following page does not form part of the statutory financial statements. 25
THE DERBYSHIRE ENVIRONMENTAL TRUST LIMITED {Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 2024 2023 as restated INCOME Landfill operators Bank InteSt 944,531 22,242 1,409,895 966,773 1,422,170 EXPENDITURE Awards to appltcants Administration Entrust fees Insurance Audit fee Sundries 1,906.615 87.534 29,379 334 5,414 236 2,083,239 94,334 49,059 334 4,512 884 (2,029,512) (2,232,362) {DEFICIT) I SURPLUS FOR THE YEAR (1,062,739) (810,192) 26