PENRITH & DISTRICT RED SQUIRREL GROUP
TRUSTEES’ REPORT for the Year Ended 31[st] December 2022.
Trustees and officers for the period 1[st] January 2022 to 31[st] December 2022 were:
Robert Benson (Chairman), Julie Bailey (Treasurer – resigned on 27[th] June), Ian Jack – (resigned due to personal circumstances on 5[th] July), Jill Pettigrew (Secretary) and Christian Bensaid (appointed 29[th] April).
The Trustees are appointed by the existing Trustees, and all retire at the next AGM but can offer themselves for reappointment. The governing document for the Group is the constitution adopted on 10[th] October 2006 and it is the Trustees who conduct the business of the Charitable Trust.
The Trustees continually seek to advance the objectives of the charity by promoting the preservation of the red squirrel in their natural habitat of Penrith District and their protection from extinction for the public benefit and to advance the education of the public and conduct research concerning the red squirrel population in the Penrith District and its endangered status.
In setting the objectives of the Charity, the Trustees have paid due regard to the Charity Commission guidance on public benefit
A series of Meetings were held throughout the year were held – 21[st] February, 21[st] April, 29[th] April, 7[th] June, 11[th] July (AGM),25[th] July, 7[th] September, 18[th] October, 27[th] October 14[th] November, 22[nd] November, 30[th] November ,5[th] December. Most meetings included Rangers and Supporters as well as Trustees. A repeat of the last 2 years of mainly remote meetings due to Corona Virus was not necessary.
The main activities of the charity during the year can be summarised as follows:
-
The normal promotion of red squirrel conservation throughout the Penrith District area resumed with little or no restriction after the pandemic the organisation of a number of activities including public meetings, talks and attendance at shows. These highlighted the increasing plight of the red squirrel, and the risk to their existence posed by the non-native grey squirrel and the virus most greys carry.
-
Increased promotion and publicity using a much improved and updated website, increased use of social media. This includes encouraging the public to become members and/or volunteer and report both red and grey squirrel sightings.
-
Obtaining funding from all possible sources including membership, sponsorship, sales of merchandise, including the sale of feeders made by the Rangers and donations plus a very welcome legacy received during the year meant that the group continued to provide landscape grey control across the group area by agreeing annual 12 month contracts with professional trained rangers ( 4 full time and 2 part time ) augmented by a further full time ranger employed by Center Parcs, but working closely with the group.
-
The group continued to benefit from the upgrade in equipment provided through the Green Recovery Challenge Fund in 2020. Continued investment in cameras, thermal imagers is contributing greatly to the effectiveness and efficiency of the ranger team and its grey control work.
-
The coordination of standardised squirrel data in 2022 shows that whilst red sightings remain good in parts of the 622 square miles now covered by the group, the Trustees are very concerned by increasing grey squirrel numbers and loss of reds in part, probably to squirrel pox virus.
Financial Review
The trustees are pleased that they have managed to maintain ranger contracts. This position was boosted by an unexpected legacy received late in 2022. They are however very realistic and see that increased income must be found if they are to continue with the current level of grey control over the next 3 or 4 years. However, the grey situation really requires increased ranger cover, not maintenance of the status quo and they are concerned that this will not be possible unless income is much increased, despite investment of the legacy with increased interest rates which will help but by no means fill the gap.
The Trustees hope to maintain a reserve of £100,000 (raised from £50,000 in 2021) and this will be reviewed every 6 months. If overall funds are predicted to drop below £150,000 then Trustees will consider reducing contracts to 6 months.
Total income for the year amounted to £344,502 with expenditure of £226,391 leaving an overall surplus of £118,111. At the year end there were unrestricted funds of ….
Penrith District Red Squirrel Group
Registration number: 1117418 Annual Report and Financial Statements
31 December 2022
Penrith District Red Squirrel Group
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 |
| Trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
Penrith District Red Squirrel Group Reference and Administrative Details
| Charity name | Penrith District Red | Squirrel Group |
|---|---|---|
| Charity registration number | 1117418 | |
| Principal office | Celleron House | |
| Tirril | ||
| PENRITH | ||
| CA10 2LS | ||
| Registered office | Celleron House | |
| Tirril | ||
| PENRITH | ||
| CA10 2LS | ||
| Trustees | R C Benson, Chair | |
| J Bailey | (Resigned 28 June 2022) | |
| I Jack | (Resigned 25 June 2022) | |
| J Moss | ||
| J Pettigrew | ||
| C J Bensaid | (Appointed 29 April 2022) | |
| Accountant | Dodd & Co Limited | |
| FIFTEEN Rosehill | ||
| Montgomery Way | ||
| Rosehill Estate | ||
| CARLISLE | ||
| CA1 2RW |
Page 1
Penrith District Red Squirrel Group
Trustees' Report for the Year Ended 31 December 2022
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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.
Structure, governance and management
Trustees and officers for the period 1st January 2022 to 31st December 2022 were:
Robert Benson (Chairman), Julie Bailey (Treasurer – resigned on 28th June), Ian Jack – (resigned due to personal circumstances on 25th June), Jill Pettigrew (Secretary) and Christian Bensaid (appointed 29th April).
The Trustees are appointed by the existing Trustees, and all retire at the next AGM but can offer themselves for reappointment.
The governing document for the Group is the constitution adopted on 10th October 2006 and it is the Trustees who conduct the business of the Charitable Trust.
A series of Meetings were held throughout the year were held – 21st February, 21st April, 29th April, 7th June, 11th July (AGM),25th July, 7th September, 18th October, 27th October 14th November, 22nd November, 30th November ,5th December. Most meetings included Rangers and Supporters as well as Trustees. A repeat of the last 2 years of mainly remote meetings due to Corona Virus was not necessary.
Objectives and activities
The Trustees continually seek to advance the objectives of the charity by promoting the preservation of the red squirrel in their natural habitat of Penrith District and their protection from extinction for the public benefit and to advance the education of the public and conduct research concerning the red squirrel population in the Penrith District and its endangered status.
In setting the objectives of the Charity, the Trustees have paid due regard to the Charity Commission guidance on public benefit.
Achievements and performance
The main activities of the charity during the year can be summarised as follows:
-
The normal promotion of red squirrel conservation throughout the Penrith District area resumed with little or no restriction after the pandemic the organisation of a number of activities including public
-
- meetings, talks and attendance at shows. These highlighted the increasing plight of the red squirrel, and the risk to their existence posed by the non-native grey squirrel and the virus most greys carry.
-
Increased promotion and publicity using a much improved and updated website, increased use of social
-
- media. This includes encouraging the public to become members and/or volunteer and report both red and grey squirrel sightings.
-
Obtaining funding from all possible sources including membership, sponsorship, sales of merchandise, including the sale of feeders made by the Rangers and donations plus a very welcome legacy received
-
- during the year meant that the group continued to provide landscape grey control across the group area by agreeing annual 12 month contracts with professional trained rangers ( 4 full time and 2 part time ) augmented by a further full time ranger employed by Center Parcs, but working closely with the group.
-
The group continued to benefit from the upgrade in equipment provided through the Green Recovery
-
- Challenge Fund in 2020. Continued investment in cameras, thermal imagers is contributing greatly to the effectiveness and efficiency of the ranger team and its grey control work.
-
The coordination of standardised squirrel data in 2022 shows that whilst red sightings remain good in
-
- parts of the 622 square miles now covered by the group, the Trustees are very concerned by increasing grey squirrel numbers and loss of reds in part, probably to squirrel pox virus.
Page 2
Penrfth Distrfct Red Squirrel Group Trust•es' Report forth¢ Year Ended 31 December 2022 Financial Review Thè 1$188£ are plèased that Ihey have managed lo mainlain Tanger ccntracts. This positlcxl W3S tK)tssted by a unexpectgj legacy CeIVed lats in 2022. They are h¢pwever very realistic and see that increased in¢om8 must be found rf they a to coniinue ¥th the current level of grey control ovw Ihe nexi 3 or 4 years. However, the grey situa1b really requires inueased ranger (ver. not m47intenance of the slatus qvo at)d trey are eoncemed that this ill not be w6siIAe tsnless intome is much inceased, dw.ie in¥esimeiit of the legacy ith incTeased trterest rates which will help but by rneans fill the gap. Th8 Tru8tees hope lo rllaintain a rgs8rvg of E100.(KKI Iraise¢l £50.CKIO tn 20211 and thi5 will be reMBwed every 6 rnonths. If overall funds are predicted to drcy below £150.000 then Tru5Lees 71rf11 con5id8r reducing contra¢ts l() 6 monlhs or reduong ranger nurnbers. Total rnGome for the year amounted to £344,502 ewendityre of £226.391 8rIg an overall surplus ol £118,111. Al the year end there were urre5ti4(tsJ lund5 L4 £492.498 and restricted funds of £#il. Free reserves We £466.925 at the Yar end. Approved by the TN5tees 24 Juty 2023 an(S signed on trvir behair ty. R C Benson TnJ5tee PagB 3
Penrith District Red Squirrel Group
Trustees' Responsibilities in relation to the Financial Statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales 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 of the charity for that period. 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 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 business.
The trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection fraud and other irregularities.
Page 4
Independent Examiner's Report to the Trustees of
Penrith District Red Squirrel Group
I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 6 to 16.
Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
Respective responsibilities of trustees and examiner
The Charity's trustees 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.
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
-
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:
-
to keep accounting records in accordance with section 130 of the Charities Act 2011; and
-
to prepare accounts which accord with the accounting records, 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.
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.........................................
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......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
24 July 2023
Page 5
Penrith District Red Squirrel Group
Statement of Financial Activities for the Year Ended 31 December 2022
| Note Income and endowments from: Donations and legacies 2 Other trading activities 3 Investments 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net incoming resources before transfers Transfers Gross transfers between funds Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 284,786 36,516 - |
Restricted Funds £ 23,200 - - |
Total Funds 2022 £ 307,986 36,516 - |
Total Funds 2021 £ 333,275 39,621 118 |
|---|---|---|---|---|
| 321,302 | 23,200 | 344,502 | 373,014 | |
| 19,726 155,209 |
665 50,791 |
20,391 206,000 |
10,973 187,893 |
|
| 174,935 | 51,456 | 226,391 | 198,866 | |
| 146,367 2,143 |
(28,256) (2,143) |
118,111 - |
174,148 - |
|
| 148,510 343,988 |
(30,399) 30,399 |
118,111 374,387 |
174,148 200,239 |
|
| 492,498 | - | 492,498 | 374,387 |
The notes on pages 8 to 16 form an integral part of these financial statements.
Page 6
Penrfth Dlstrict Red Squirrnl Group Balan¢¢ Sheet as at 31 December 2022 2022 2021 Notè Fixed assets Tangible 88S8ts 10 25.573 26,400 Current a550ts Stocks wc*k in woJr858 Debtors Cash at bank in hand 1.995 29.891 444.706 476.592 5,1 19.003 325.714 349.907 credito AMntS falling due wlthin one ar 12 9.6671 11.920) Net cuvrent as8eis 466,925 347,987 Net assets 492.498 374,387 Th• funds ol the ¢harity. Restrlcted fund$ 30,399 Unrestricted funds Unr8Strictgd income fvnds 492.498 343,988 Total charity funds The financial stsiements have been prepared in acoydance wlh Ihe Firxncial Rewrting Standard awliGable in the UK ar Reputlic ol Ireland IFRS 1021. 492.498 374,387 Atfjroved by the Board on 24 July 2023 and sgned on its hav ty. R C Benson Trvstee The notes on page5 8 to 16 fonn an intwJrAI part ofthe$8 finaniial slatements. Page 7
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Statement of compliance
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 14.
Income and endowments
Donations and legacies including donations, legacies and grants that provide core funding or are of a general nature is recognised where there is entitlement, propability of receipt and the amount can be measured with sufficient reliability.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).
Investment income is recognised on a receivable basis.
Page 8
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of raising funds are the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the 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.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Plant and machinery 15% reducing balance Office equipment 33% straight line basis
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Page 9
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
2 Donations and legacies
| Donations and legacies Legacies and bequests Appeals and donations Gift Aid tax reclaimed Membership Grants Grants - other agencies |
Unrestricted Funds £ 200,000 45,935 7,773 31,078 |
Restricted Funds £ - - - - |
Total Funds 2022 £ 200,000 45,935 7,773 31,078 |
Total Funds 2021 £ 162,470 32,343 7,700 36,847 |
|---|---|---|---|---|
| 284,786 - |
- 23,200 |
284,786 23,200 |
239,360 93,915 |
|
| 284,786 | 23,200 | 307,986 | 333,275 |
Of the donations and legacies income in 2021 £240,475 related to unrestricted funds and £92,800 related to restricted funds.
3 Other trading activities
| Other trading activities Merchandise Events Raffle income (Profit)/loss on sale of tangible fixed assets held for charity's own use |
Unrestricted Funds £ 30,168 2,261 3,239 848 |
Restricted Funds £ - - - - |
Total Funds 2022 £ 30,168 2,261 3,239 848 |
Total Funds 2021 £ 38,593 858 170 - |
|---|---|---|---|---|
| 36,516 | - | 36,516 | 39,621 |
All of the other trading income in 2021 related to unrestricted funds.
4 Investments
| Interest on cash deposits | Unrestricted Funds £ - |
Restricted Funds £ - |
Total Funds 2022 £ - |
Total Funds 2021 £ 118 |
|---|---|---|---|---|
All of the investment income in 2021 related to unrestricted funds.
Page 10
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
5 Expenditure
| Direct costs Fundraising costs Opening stock Merchandise Selling fees Closing stock Postage and carriage Project costs Staff training Insurance Equipment repairs and renewals Computer software and maintenance costs Printing, postage and stationery Sundry expenses Travel and subsistence Advertising Depreciation of plant and machinery Depreciation of office equipment Support costs Accountancy fees Independent examiner's fee Bank charges |
Other trading activities £ 303 5,190 15,350 108 (1,995) 1,435 - - - - - - - - - - - 20,391 - - - - 20,391 |
Charitable activity £ - - - - - - 187,037 90 1,962 2,203 706 88 469 205 4,248 4,254 771 |
Total 2022 £ 303 5,190 15,350 108 (1,995) 1,435 187,037 90 1,962 2,203 706 88 469 205 4,248 4,254 771 |
Total 2021 £ - 1,500 13,354 430 (5,190) 879 171,719 560 1,250 83 120 308 35 1,102 5,691 4,344 751 |
|---|---|---|---|---|
| 202,033 | 222,424 | 196,936 | ||
| 3,209 600 158 |
3,209 600 158 |
1,320 600 10 |
||
| 3,967 | 3,967 | 1,930 | ||
| 206,000 | 226,391 | 198,866 |
Of the expenditure in 2021 £25,843 related to unrestricted funds and £173,023 related to restricted funds.
6 Governance costs
| Accountancy fees Independent examiner's fee |
2022 £ 3,209 600 3,809 |
2021 £ 1,320 600 |
|---|---|---|
| 1,920 |
Page 11
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
7 Trustees' remuneration and expenses
During the year, J Bailey received payment for adminstration services for the charity of £28,920. This payment was made in accordance with the provisions in the governing document of the charity. J Bailey received no remuneration in her role as a trustee.
During the year, C J Bensaid received payment for ranger contractor work for the charity of £28,420. This payment was made in accordance with the provisions in the governing document of the charity. C J Bensaid receives no remuneration in his role as a trustee.
No trustees received any remuneration or were reimbursed for any expenses during the year.
Total donations from trustees in the year totalled £9,296.
8 Net incoming resources
Net incoming resources is stated after charging/(crediting):
| Profit on disposal of tangible fixed assets Depreciation of owned assets |
2022 £ (848) 5,025 |
2021 £ - 5,095 |
|---|---|---|
Page 12
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
9 Taxation
The registered charity is exempt from taxation on income and gains.
10 Tangible fixed assets
| Cost As at 1 January 2022 Additions Disposals As at 31 December 2022 Depreciation As at 1 January 2022 Eliminated on disposals Charge for the year As at 31 December 2022 Net book value As at 31 December 2022 As at 31 December 2021 Debtors Trade debtors Other debtors Prepayments and accrued income Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income |
Plant and machinery £ 34,574 8,340 (6,300) 36,614 8,922 (1,748) 4,254 11,428 25,186 25,652 |
Office equipment £ 2,250 410 - 2,660 1,502 - 771 2,273 387 748 2022 £ 2,891 7,000 20,000 29,891 2022 £ 7,747 1,920 9,667 |
Total £ 36,824 8,750 (6,300) 39,274 10,424 (1,748) 5,025 13,701 25,573 26,400 2021 £ - 7,700 11,303 |
|
|---|---|---|---|---|
| 19,003 | ||||
| 2021 £ - 1,920 |
||||
| 1,920 |
11 Debtors
12 Creditors: Amounts falling due within one year
Page 13
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
13 Related parties
Controlling entity
The charity is controlled by the trustees.
14 Analysis of funds
| General Funds Unrestricted income fund Restricted Funds Oglesby Trust Green Recovery Challenge Fund |
At 1 January 2022 £ 343,988 15,189 15,210 30,399 374,387 |
Incoming resources £ 321,302 - 23,200 23,200 344,502 |
Resources expended £ (174,935) (15,552) (35,904) (51,456) (226,391) |
Transfers £ 2,143 363 (2,506) (2,143) - |
At 31 December 2022 £ 492,498 |
|---|---|---|---|---|---|
| - - |
|||||
| - | |||||
| 492,498 |
Oglesby Trust - contribution to Penrith and District Red Squirrel Group's upper eden valley conservation work.
Green Recovery Challenge Fund - government funding towards conservation project running November 2020 to March 2022.
Page 14
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Prior period
| General Funds Unrestricted income fund Restricted Funds Betty Philips Charitable Trust Mr Wills Trust Fitton Trust Oglesby Trust Green Rcovery Challenge Fund |
At 1 January 2021 £ 83,005 2,500 1,000 100 16,269 97,365 117,234 200,239 |
Incoming resources £ - 280,214 - - - - 92,800 92,800 373,014 |
Resources expended £ (25,843) - - - (1,080) (171,943) (173,023) (198,866) |
Transfers £ 6,612 (2,500) (1,000) (100) - (3,012) (6,612) - |
At 31 December 2021 £ 343,988 |
|---|---|---|---|---|---|
| - - - 15,189 15,210 |
|||||
| 30,399 | |||||
| 374,387 |
15 Transfers
A transfer of £2,700 has been made from the Green Recovery Challenge restricted fund to unrestricted funds, this represents restricted funds received to purchase fixed assets. Once the assets were purchased the original restriction on the funds was met and the assets were then transferred to unrestricted funds, to reflect the fact they are unrestricted in use.
Transfers of £363 and £194 were made from unrestricted funds to the Oglesby Trust and Green Recovery Challange restricted funds respectively to fund deficits on these projects.
Page 15
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
16 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 25,573 476,592 (9,667) 492,498 |
Total Funds 2022 £ 25,573 476,592 (9,667) 492,498 |
Total Funds 2021 £ 26,400 349,907 (1,920) |
|---|---|---|---|
| 374,387 |
Prior period
| Unrestricted Funds £ Tangible assets 26,400 Current assets 319,508 Creditors: Amounts falling due within one year 1,920 Net assets 343,988 |
Restricted Funds £ - 30,399 - 30,399 |
Total Funds 2021 £ 26,400 349,907 (1,920) 374,387 |
Total Funds 2020 £ 27,438 172,801 - |
|---|---|---|---|
| 200,239 |
Page 16
Penrith District Red Squirrel Group
Registration number: 1117418 Annual Report and Financial Statements
31 December 2022
Penrith District Red Squirrel Group
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 |
| Trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
Penrith District Red Squirrel Group Reference and Administrative Details
| Charity name | Penrith District Red | Squirrel Group |
|---|---|---|
| Charity registration number | 1117418 | |
| Principal office | Celleron House | |
| Tirril | ||
| PENRITH | ||
| CA10 2LS | ||
| Registered office | Celleron House | |
| Tirril | ||
| PENRITH | ||
| CA10 2LS | ||
| Trustees | R C Benson, Chair | |
| J Bailey | (Resigned 28 June 2022) | |
| I Jack | (Resigned 25 June 2022) | |
| J Moss | ||
| J Pettigrew | ||
| C J Bensaid | (Appointed 29 April 2022) | |
| Accountant | Dodd & Co Limited | |
| FIFTEEN Rosehill | ||
| Montgomery Way | ||
| Rosehill Estate | ||
| CARLISLE | ||
| CA1 2RW |
Page 1
Penrith District Red Squirrel Group
Trustees' Report for the Year Ended 31 December 2022
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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.
Structure, governance and management
Trustees and officers for the period 1st January 2022 to 31st December 2022 were:
Robert Benson (Chairman), Julie Bailey (Treasurer – resigned on 28th June), Ian Jack – (resigned due to personal circumstances on 25th June), Jill Pettigrew (Secretary) and Christian Bensaid (appointed 29th April).
The Trustees are appointed by the existing Trustees, and all retire at the next AGM but can offer themselves for reappointment.
The governing document for the Group is the constitution adopted on 10th October 2006 and it is the Trustees who conduct the business of the Charitable Trust.
A series of Meetings were held throughout the year were held – 21st February, 21st April, 29th April, 7th June, 11th July (AGM),25th July, 7th September, 18th October, 27th October 14th November, 22nd November, 30th November ,5th December. Most meetings included Rangers and Supporters as well as Trustees. A repeat of the last 2 years of mainly remote meetings due to Corona Virus was not necessary.
Objectives and activities
The Trustees continually seek to advance the objectives of the charity by promoting the preservation of the red squirrel in their natural habitat of Penrith District and their protection from extinction for the public benefit and to advance the education of the public and conduct research concerning the red squirrel population in the Penrith District and its endangered status.
In setting the objectives of the Charity, the Trustees have paid due regard to the Charity Commission guidance on public benefit.
Achievements and performance
The main activities of the charity during the year can be summarised as follows:
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The normal promotion of red squirrel conservation throughout the Penrith District area resumed with little or no restriction after the pandemic the organisation of a number of activities including public
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- meetings, talks and attendance at shows. These highlighted the increasing plight of the red squirrel, and the risk to their existence posed by the non-native grey squirrel and the virus most greys carry.
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Increased promotion and publicity using a much improved and updated website, increased use of social
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- media. This includes encouraging the public to become members and/or volunteer and report both red and grey squirrel sightings.
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Obtaining funding from all possible sources including membership, sponsorship, sales of merchandise, including the sale of feeders made by the Rangers and donations plus a very welcome legacy received
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- during the year meant that the group continued to provide landscape grey control across the group area by agreeing annual 12 month contracts with professional trained rangers ( 4 full time and 2 part time ) augmented by a further full time ranger employed by Center Parcs, but working closely with the group.
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The group continued to benefit from the upgrade in equipment provided through the Green Recovery
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- Challenge Fund in 2020. Continued investment in cameras, thermal imagers is contributing greatly to the effectiveness and efficiency of the ranger team and its grey control work.
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The coordination of standardised squirrel data in 2022 shows that whilst red sightings remain good in
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- parts of the 622 square miles now covered by the group, the Trustees are very concerned by increasing grey squirrel numbers and loss of reds in part, probably to squirrel pox virus.
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Penrfth Distrfct Red Squirrel Group Trust•es' Report forth¢ Year Ended 31 December 2022 Financial Review Thè 1$188£ are plèased that Ihey have managed lo mainlain Tanger ccntracts. This positlcxl W3S tK)tssted by a unexpectgj legacy CeIVed lats in 2022. They are h¢pwever very realistic and see that increased in¢om8 must be found rf they a to coniinue ¥th the current level of grey control ovw Ihe nexi 3 or 4 years. However, the grey situa1b really requires inueased ranger (ver. not m47intenance of the slatus qvo at)d trey are eoncemed that this ill not be w6siIAe tsnless intome is much inceased, dw.ie in¥esimeiit of the legacy ith incTeased trterest rates which will help but by rneans fill the gap. Th8 Tru8tees hope lo rllaintain a rgs8rvg of E100.(KKI Iraise¢l £50.CKIO tn 20211 and thi5 will be reMBwed every 6 rnonths. If overall funds are predicted to drcy below £150.000 then Tru5Lees 71rf11 con5id8r reducing contra¢ts l() 6 monlhs or reduong ranger nurnbers. Total rnGome for the year amounted to £344,502 ewendityre of £226.391 8rIg an overall surplus ol £118,111. Al the year end there were urre5ti4(tsJ lund5 L4 £492.498 and restricted funds of £#il. Free reserves We £466.925 at the Yar end. Approved by the TN5tees 24 Juty 2023 an(S signed on trvir behair ty. R C Benson TnJ5tee PagB 3
Penrith District Red Squirrel Group
Trustees' Responsibilities in relation to the Financial Statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection fraud and other irregularities.
Page 4
Independent Examiner's Report to the Trustees of
Penrith District Red Squirrel Group
I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 6 to 16.
Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
Respective responsibilities of trustees and examiner
The Charity's trustees 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.
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
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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:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records, 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.
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......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
24 July 2023
Page 5
Penrith District Red Squirrel Group
Statement of Financial Activities for the Year Ended 31 December 2022
| Note Income and endowments from: Donations and legacies 2 Other trading activities 3 Investments 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net incoming resources before transfers Transfers Gross transfers between funds Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 284,786 36,516 - |
Restricted Funds £ 23,200 - - |
Total Funds 2022 £ 307,986 36,516 - |
Total Funds 2021 £ 333,275 39,621 118 |
|---|---|---|---|---|
| 321,302 | 23,200 | 344,502 | 373,014 | |
| 19,726 155,209 |
665 50,791 |
20,391 206,000 |
10,973 187,893 |
|
| 174,935 | 51,456 | 226,391 | 198,866 | |
| 146,367 2,143 |
(28,256) (2,143) |
118,111 - |
174,148 - |
|
| 148,510 343,988 |
(30,399) 30,399 |
118,111 374,387 |
174,148 200,239 |
|
| 492,498 | - | 492,498 | 374,387 |
The notes on pages 8 to 16 form an integral part of these financial statements.
Page 6
Penrfth Dlstrict Red Squirrnl Group Balan¢¢ Sheet as at 31 December 2022 2022 2021 Notè Fixed assets Tangible 88S8ts 10 25.573 26,400 Current a550ts Stocks wc*k in woJr858 Debtors Cash at bank in hand 1.995 29.891 444.706 476.592 5,1 19.003 325.714 349.907 credito AMntS falling due wlthin one ar 12 9.6671 11.920) Net cuvrent as8eis 466,925 347,987 Net assets 492.498 374,387 Th• funds ol the ¢harity. Restrlcted fund$ 30,399 Unrestricted funds Unr8Strictgd income fvnds 492.498 343,988 Total charity funds The financial stsiements have been prepared in acoydance wlh Ihe Firxncial Rewrting Standard awliGable in the UK ar Reputlic ol Ireland IFRS 1021. 492.498 374,387 Atfjroved by the Board on 24 July 2023 and sgned on its hav ty. R C Benson Trvstee The notes on page5 8 to 16 fonn an intwJrAI part ofthe$8 finaniial slatements. Page 7
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Statement of compliance
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 14.
Income and endowments
Donations and legacies including donations, legacies and grants that provide core funding or are of a general nature is recognised where there is entitlement, propability of receipt and the amount can be measured with sufficient reliability.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).
Investment income is recognised on a receivable basis.
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of raising funds are the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the 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.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Plant and machinery 15% reducing balance Office equipment 33% straight line basis
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
2 Donations and legacies
| Donations and legacies Legacies and bequests Appeals and donations Gift Aid tax reclaimed Membership Grants Grants - other agencies |
Unrestricted Funds £ 200,000 45,935 7,773 31,078 |
Restricted Funds £ - - - - |
Total Funds 2022 £ 200,000 45,935 7,773 31,078 |
Total Funds 2021 £ 162,470 32,343 7,700 36,847 |
|---|---|---|---|---|
| 284,786 - |
- 23,200 |
284,786 23,200 |
239,360 93,915 |
|
| 284,786 | 23,200 | 307,986 | 333,275 |
Of the donations and legacies income in 2021 £240,475 related to unrestricted funds and £92,800 related to restricted funds.
3 Other trading activities
| Other trading activities Merchandise Events Raffle income (Profit)/loss on sale of tangible fixed assets held for charity's own use |
Unrestricted Funds £ 30,168 2,261 3,239 848 |
Restricted Funds £ - - - - |
Total Funds 2022 £ 30,168 2,261 3,239 848 |
Total Funds 2021 £ 38,593 858 170 - |
|---|---|---|---|---|
| 36,516 | - | 36,516 | 39,621 |
All of the other trading income in 2021 related to unrestricted funds.
4 Investments
| Interest on cash deposits | Unrestricted Funds £ - |
Restricted Funds £ - |
Total Funds 2022 £ - |
Total Funds 2021 £ 118 |
|---|---|---|---|---|
All of the investment income in 2021 related to unrestricted funds.
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
5 Expenditure
| Direct costs Fundraising costs Opening stock Merchandise Selling fees Closing stock Postage and carriage Project costs Staff training Insurance Equipment repairs and renewals Computer software and maintenance costs Printing, postage and stationery Sundry expenses Travel and subsistence Advertising Depreciation of plant and machinery Depreciation of office equipment Support costs Accountancy fees Independent examiner's fee Bank charges |
Other trading activities £ 303 5,190 15,350 108 (1,995) 1,435 - - - - - - - - - - - 20,391 - - - - 20,391 |
Charitable activity £ - - - - - - 187,037 90 1,962 2,203 706 88 469 205 4,248 4,254 771 |
Total 2022 £ 303 5,190 15,350 108 (1,995) 1,435 187,037 90 1,962 2,203 706 88 469 205 4,248 4,254 771 |
Total 2021 £ - 1,500 13,354 430 (5,190) 879 171,719 560 1,250 83 120 308 35 1,102 5,691 4,344 751 |
|---|---|---|---|---|
| 202,033 | 222,424 | 196,936 | ||
| 3,209 600 158 |
3,209 600 158 |
1,320 600 10 |
||
| 3,967 | 3,967 | 1,930 | ||
| 206,000 | 226,391 | 198,866 |
Of the expenditure in 2021 £25,843 related to unrestricted funds and £173,023 related to restricted funds.
6 Governance costs
| Accountancy fees Independent examiner's fee |
2022 £ 3,209 600 3,809 |
2021 £ 1,320 600 |
|---|---|---|
| 1,920 |
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
7 Trustees' remuneration and expenses
During the year, J Bailey received payment for adminstration services for the charity of £28,920. This payment was made in accordance with the provisions in the governing document of the charity. J Bailey received no remuneration in her role as a trustee.
During the year, C J Bensaid received payment for ranger contractor work for the charity of £28,420. This payment was made in accordance with the provisions in the governing document of the charity. C J Bensaid receives no remuneration in his role as a trustee.
No trustees received any remuneration or were reimbursed for any expenses during the year.
Total donations from trustees in the year totalled £9,296.
8 Net incoming resources
Net incoming resources is stated after charging/(crediting):
| Profit on disposal of tangible fixed assets Depreciation of owned assets |
2022 £ (848) 5,025 |
2021 £ - 5,095 |
|---|---|---|
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
9 Taxation
The registered charity is exempt from taxation on income and gains.
10 Tangible fixed assets
| Cost As at 1 January 2022 Additions Disposals As at 31 December 2022 Depreciation As at 1 January 2022 Eliminated on disposals Charge for the year As at 31 December 2022 Net book value As at 31 December 2022 As at 31 December 2021 Debtors Trade debtors Other debtors Prepayments and accrued income Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income |
Plant and machinery £ 34,574 8,340 (6,300) 36,614 8,922 (1,748) 4,254 11,428 25,186 25,652 |
Office equipment £ 2,250 410 - 2,660 1,502 - 771 2,273 387 748 2022 £ 2,891 7,000 20,000 29,891 2022 £ 7,747 1,920 9,667 |
Total £ 36,824 8,750 (6,300) 39,274 10,424 (1,748) 5,025 13,701 25,573 26,400 2021 £ - 7,700 11,303 |
|
|---|---|---|---|---|
| 19,003 | ||||
| 2021 £ - 1,920 |
||||
| 1,920 |
11 Debtors
12 Creditors: Amounts falling due within one year
Page 13
Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
13 Related parties
Controlling entity
The charity is controlled by the trustees.
14 Analysis of funds
| General Funds Unrestricted income fund Restricted Funds Oglesby Trust Green Recovery Challenge Fund |
At 1 January 2022 £ 343,988 15,189 15,210 30,399 374,387 |
Incoming resources £ 321,302 - 23,200 23,200 344,502 |
Resources expended £ (174,935) (15,552) (35,904) (51,456) (226,391) |
Transfers £ 2,143 363 (2,506) (2,143) - |
At 31 December 2022 £ 492,498 |
|---|---|---|---|---|---|
| - - |
|||||
| - | |||||
| 492,498 |
Oglesby Trust - contribution to Penrith and District Red Squirrel Group's upper eden valley conservation work.
Green Recovery Challenge Fund - government funding towards conservation project running November 2020 to March 2022.
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Prior period
| General Funds Unrestricted income fund Restricted Funds Betty Philips Charitable Trust Mr Wills Trust Fitton Trust Oglesby Trust Green Rcovery Challenge Fund |
At 1 January 2021 £ 83,005 2,500 1,000 100 16,269 97,365 117,234 200,239 |
Incoming resources £ - 280,214 - - - - 92,800 92,800 373,014 |
Resources expended £ (25,843) - - - (1,080) (171,943) (173,023) (198,866) |
Transfers £ 6,612 (2,500) (1,000) (100) - (3,012) (6,612) - |
At 31 December 2021 £ 343,988 |
|---|---|---|---|---|---|
| - - - 15,189 15,210 |
|||||
| 30,399 | |||||
| 374,387 |
15 Transfers
A transfer of £2,700 has been made from the Green Recovery Challenge restricted fund to unrestricted funds, this represents restricted funds received to purchase fixed assets. Once the assets were purchased the original restriction on the funds was met and the assets were then transferred to unrestricted funds, to reflect the fact they are unrestricted in use.
Transfers of £363 and £194 were made from unrestricted funds to the Oglesby Trust and Green Recovery Challange restricted funds respectively to fund deficits on these projects.
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Penrith District Red Squirrel Group
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
16 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 25,573 476,592 (9,667) 492,498 |
Total Funds 2022 £ 25,573 476,592 (9,667) 492,498 |
Total Funds 2021 £ 26,400 349,907 (1,920) |
|---|---|---|---|
| 374,387 |
Prior period
| Unrestricted Funds £ Tangible assets 26,400 Current assets 319,508 Creditors: Amounts falling due within one year 1,920 Net assets 343,988 |
Restricted Funds £ - 30,399 - 30,399 |
Total Funds 2021 £ 26,400 349,907 (1,920) 374,387 |
Total Funds 2020 £ 27,438 172,801 - |
|---|---|---|---|
| 200,239 |
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