## **REGISTERED COMPANY NUMBER: 03064585 (England and Wales) REGISTERED CHARITY NUMBER: 1130574**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
**FOR**
**ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
Solazzo & Co Ltd Chartered Accountants Woodlands, 27 Ferney Road Cheshunt Hertfordshire EN7 6XQ
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**|5|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|to|21|
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
ECCO's charitable aim is twofold:
1. To protect and enhance the natural and built environment.
2. To recycle and to provide good quality furniture, clothing and household items for the alleviation of poverty.
ECCO achieves the first aim by managing Parndon Wood Nature Reserve in Harlow, Essex. The reserve is a Site of Special Scientific Interest (SSSI) and is managed in partnership with Harlow Council and volunteer groups in accordance with Natural England's agreed management plan. This plan implements the standards that are essential to sustain the site's special status. Parndon Wood forms part of the Harlow Woods designated area which also includes Hospital and Risden Woods.
The site is open to the public five days a week and runs events focusing on environmental education. Over the year Parndon Wood has had approximately 16,000 visitors.
Parndon Wood also retained its Green Flag status, which acknowledges its standing as one of the UK's best parks.
The costs of the reserve are funded from the income of ECCO's reuse shops and a grant from Harlow Council.
ECCO achieves the second aim by recycling and reusing materials in its three shops in Harlow, Epping and Bishop's Stortford.
## **Significant activities**
We continued to work in partnership with:
Essex County Council through the provision of Waste Electronic, Electrical Equipment (WEEE) and the provision of waste domestic batteries.
Harlow Council to divert waste from landfill through the Bulky Waste Intervention Scheme and through the management of Parndon Wood Nature Reserve.
As well as providing good quality items at a low price for sale in our shops, we have also provided items free of charge to people in the local community who are in need.
In February 2021 we moved into our new store in St James Centre which is on a commercial lease for 5 years. We opened after the lockdown ended in April 21, we employed 3 new members of staff due to the success of the new store. During the year ECCO had diverted approximately 1500 tonnes of material from landfill.
In addition to the continued commitment of the above activities, in the coming year ECCO will focus on improving Gift Aid procedures and increasing income from it.
The Trustees would like to acknowledge the dedication and hard work of the volunteers who make such an important contribution to the successful running of the organisation.
## **STRATEGIC REPORT**
## **Financial position**
Total income for the year amounted to £761,020 (2020-£699,864) and total expenditure £675,404 (2020-£622,078). Net movement in funds for the year was a surplus of £85,616 (2020-£77,786).
Page 1
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **STRATEGIC REPORT Financial review**
## **Principal funding sources**
The principal source of funding is the sale of donated goods from retail outlets. This is supplemented by waste recycling income and visitor fees from Parndon Wood.
## **Reserves policy**
The Trustees have agreed a policy of holding reserves equivalent to six months expenditure. This policy is to ensure that the charity is able to deal with unforeseen circumstances. Reserves at the Balance Sheet date amounted to £483,990 (2020-£398,374).The Trustees consider that the reserves as at 30 June 2021 are sufficient to meet this objective.
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has sufficient resources to continue operations for the foreseeable future. For this reason the going concern basis is adopted in preparing the financial statements.
## **Future plans**
ECCO's main threat continues to be the instability which comes with short term leases. ECCO will continue to explore the opportunities of securing long term leases as the opportunities arise. We are in early discussions with Jones Lang Lasalle to move our current shop into the former Staples shop on the same trading estate. This will give us better security of tenure and larger square footage. This will be on a commercial lease, so income will have to increase to match the higher fixed costs.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by it's governing document, Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.The company became a registered charity on 15 July 2009.
## **Recruitment and appointment of new trustees**
Traditionally, trustees have been recruited by word of mouth and personal recommendation. The charity has been fortunate that the mix of expertise has been sufficient to enable the trustees to make informed decisions.
## **Organisational structure**
The Board normally meets several times of the year to review performance and strategy. Day to day management is delegated to the Chief Executive Officer and his management team.
## **Key management remuneration**
The Trustees consider the Board of Trustees and the senior management team, to whom all day to day management is delegated, to be the key management personnel of the charity.
All members of the Board of Trustees give their time voluntarily and receive no financial benefits from the charity. Management remuneration is reviewed annually by reference to performance and similar charities.
Page 2
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Principal risks and uncertainties**
The Trustees have assessed major risks that the charity is exposed to, in particular those relating to operations and finances and are satisfied that the appropriate procedures are in place to mitigate those risks and are subject to regular review.
The key risks are the economic influences that may effect the supply of donated goods and their subsequent sale.
On 2 February 2021, the charity moved into adjacent premises in Harlow at a market rental on a fixed term for five years.This is in accordance with the Trustees policy to secure premises of a medium term tenure providing greater stability going forward.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
03064585 (England and Wales)
## **Registered Charity number**
1130574
## **Registered office**
St James Centre East Road Harlow Essex CM20 2SX
## **Trustees**
J R Chambers K L Barrow
## **Company Secretary**
S M Folan
## **Independent Examiner**
S Solazzo Institute of Chartered Accountants in England and Wales Solazzo & Co Ltd Chartered Accountants Woodlands, 27 Ferney Road Cheshunt Hertfordshire EN7 6XQ
Page 3
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Senior Management Team**
S M Folan-Chief Executive Officer
J Folan
M Folan D Trussler E M Folan
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 26 April 2022 and signed on the board's behalf by:
S M Folan - Secretary
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENVIRONMENTAL CONSERVATION CO-OPERATIVE**
## **LTD.**
## **Independent examiner's report to the trustees of Environmental Conservation Co-operative Ltd. ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S Solazzo Institute of Chartered Accountants in England and Wales Solazzo & Co Ltd Chartered Accountants Woodlands, 27 Ferney Road Cheshunt Hertfordshire EN7 6XQ
26 April 2022
Page 6
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|Unrestricted
fund
Notes
£
**VOLUNTARY INCOME FROM**
Donations and grants
2
1,396
Other trading activities
3
559,567
Other income
153,622
**Total**
714,585
**EXPENDITURE ON**
Raising funds
4
119,316
Other
489,150
**Total**
608,466
**NET INCOME/(EXPENDITURE)**
106,119
**Transfers between funds**
16
(26,432)
**Net movement in funds**
79,687
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
400,540
**TOTAL FUNDS CARRIED FORWARD**
480,227|Restricted
fund
£
25,000
9,242
12,193
46,435
11,478
55,460
66,938
(20,503)
26,432
5,929
(2,166)
3,763|30.6.21
Total
funds
£
26,396
568,809
165,815
761,020
130,794
544,610
675,404
85,616
-
85,616
398,374
483,990|30.6.20
Total
funds
£
26,170
550,927
122,767|
|---|---|---|---|
||||699,864
132,834
489,244|
||||622,078|
||||77,786
-|
||||77,786
320,588|
||||398,374|
The notes form part of these financial statements
Page 7
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **BALANCE SHEET 30 JUNE 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
21,629
**CURRENT ASSETS**
Debtors
11
35,493
Cash at bank and in hand
560,735
596,228
**CREDITORS**
Amounts falling due within one year
12
(97,939)
**NET CURRENT ASSETS**
498,289
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
519,918
**CREDITORS**
Amounts falling due after more than one year
13
(39,691)
**NET ASSETS**
480,227
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
4,644
-
-
-
(881)
(881)
3,763
-
3,763|30.6.21
Total
funds
£
26,273
35,493
560,735
596,228
(98,820)
497,408
523,681
(39,691)
483,990
480,227
3,763
483,990|30.6.20
Total
funds
£
18,506
43,164
471,819
514,983
(86,782)
428,201
446,707
(48,333)
398,374
400,540
(2,166)
398,374|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 8
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD. (REGISTERED NUMBER: 03064585)**
## **BALANCE SHEET - continued 30 JUNE 2021**
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 April 2022 and were signed on its behalf by:
J R Chambers - Trustee
K L Barrow - Trustee
The notes form part of these financial statements
Page 9
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|30.6.21
£
107,190
(104)
107,086
(17,388)
(17,388)
-
(782)
(782)
88,916
471,819
560,735|30.6.20
£
108,916
-
108,916
(10,486)
(10,486)
50,000
-
50,000
148,430
323,389
471,819|
|---|---|---|
The notes form part of these financial statements
Page 10
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## 2.
|||30.6.21|30.6.20|
|---|---|---|---|
|||£|£|
|**Net income for the reporting period (as per the Statement of**||||
|**Financial Activities)**||85,616|77,786|
|**Adjustments for:**||||
|Depreciation charges||9,621|7,754|
|Interest paid||104|-|
|Decrease/(increase) in debtors||7,671|(5,504)|
|Increase in creditors||4,178|28,880|
|**Net cash provided by operations**||107,190|108,916|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.7.20|Cash flow|At 30.6.21|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|471,819|88,916|560,735|
||471,819|88,916|560,735|
|**Debt**||||
|Debts falling due within 1 year|(1,667)|(7,860)|(9,527)|
|Debts falling due after 1 year|(48,333)|8,642|(39,691)|
||(50,000)|782|(49,218)|
|**Total**|421,819|89,698|511,517|
The notes form part of these financial statements
Page 11
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **1. ACCOUNTING POLICIES**
## **BASIS OF PREPARING THE FINANCIAL STATEMENTS**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **GOING CONCERN**
The charity's forecasts and projections indicate that it can meet its day-to-day working capital requirements as they fall due for a period of at least twelve months from the approval of the accounts. In addition, the Trustees consider that the cash resources remain adequate to meet the charity's obligations as they fall due.
The Trustees have also considered the impact of coronavirus on the charity's operations. As the expected long-term duration of coronavirus became clearer, the Trustees completed an exercise to restructure the charity to reflect the impact of the pandemic on the economy. The exercise demonstrated the charity had sufficient cash resources to continue operations for the foreseeable future, being a period of no less than one year from the date of approval of these financial statements. On this basis, the Trustees consider the charity to be a going concern.
## **INCOME**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **EXPENDITURE**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **TANGIBLE FIXED ASSETS**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property lease Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on cost Motor vehicles - 25% on reducing balance Office equipment - 25% on cost
## **TAXATION**
The charity is exempt from corporation tax on its charitable activities.
continued...
Page 12
**ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **1. ACCOUNTING POLICIES - continued**
## **FUND ACCOUNTING**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **HIRE PURCHASE AND LEASING COMMITMENTS**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **STOCK**
Stocks comprise second-hand goods, which have been donated. Unsold items are not included in closing stock since their cost is nil and their value is uncertain until sold.
## **Debtors**
Other debtors are measured at the settlement amount. Prepayments are valued at the amount prepaid.
## **Cash at Bank and in hand**
Cash at bank and in hand includes cash held on current account with instant access.
## **Liabilities**
Liabilities are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.Liabilities and provisions are normally recognised at their settlement amount.
## **Financial instruments**
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
continued...
Page 13
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **2. DONATIONS AND GRANTS**
|Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Parndon Wood
**3.**
**OTHER TRADING ACTIVITIES**
Shop income
Visitor fees
Waste recycling income
**4.**
**RAISING FUNDS**
**OTHER TRADING ACTIVITIES**
Purchases
Support costs|30.6.21
£
220
1,176
25,000
26,396
30.6.21
£
25,000
30.6.21
£
547,303
9,243
12,263
568,809
30.6.21
£
21,457
109,337
130,794|30.6.20
£
30
1,140
25,000
26,170
30.6.20
£
25,000
30.6.20
£
532,882
10,458
7,587|
|---|---|---|
|||550,927|
|||30.6.20
£
28,019
104,815|
|||132,834|
continued...
Page 14
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **5. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
|Management
£
Other trading activities
-
Other resources expended
493,549
493,549|Finance
£
-
6,984
6,984|Governance
Other
costs
£
£
109,337
-
41,077
3,000
150,414
3,000|Totals
£
109,337
544,610|
||||653,947|
## **6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||30.6.21|30.6.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|9,621|7,754|
|Other operating leases|112,593|92,132|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **8. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Retail, operations and administration|30.6.21
£
365,855
38,645
15,071
419,571
30.6.21
16|30.6.20
£
332,265
29,987
19,819|
|---|---|---|
|||382,071|
|||30.6.20
17|
No employees received emoluments in excess of £60,000.
Page 15
continued...
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **8. STAFF COSTS - continued**
The trustees consider the board of trustees and senior management team comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a daily basis.Total employee benefits of the key management personnel were £241,885 (2020-£234,602).
## **9.**
## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**VOLUNTARY INCOME FROM**
Donations and grants
1,170
Other trading activities
540,470
Other income
112,767
**Total**
654,407
**EXPENDITURE ON**
Raising funds
124,060
Other
434,944
**Total**
559,004
**NET INCOME/(EXPENDITURE)**
95,403
**Transfers between funds**
(10,491)
**Net movement in funds**
84,912
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
315,628
**TOTAL FUNDS CARRIED FORWARD**
400,540|Restricted
fund
£
25,000
10,457
10,000
45,457
8,774
54,300
63,074
(17,617)
10,491
(7,126)
4,960
(2,166)|Total
funds
£
26,170
550,927
122,767|
|---|---|---|
|||699,864
132,834
489,244|
|||622,078|
|||77,786
-|
|||77,786
320,588|
|||398,374|
Page 16
continued...
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **10. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
||||Fixtures|
||Short|Plant and|and|
||leasehold|machinery|fittings|
||£|£|£|
|**COST**||||
|At 1 July 2020|6,591|7,768|15,460|
|Additions|-|3,070|7,682|
|Disposals|-|-|(2,618)|
|At 30 June 2021|6,591|10,838|20,524|
|**DEPRECIATION**||||
|At 1 July 2020|4,596|3,997|13,325|
|Charge for year|150|1,710|2,846|
|Eliminated on disposal|-|-|(2,618)|
|At 30 June 2021|4,746|5,707|13,553|
|**NET BOOK VALUE**||||
|At 30 June 2021|1,845|5,131|6,971|
|At 30 June 2020|1,995|3,771|2,135|
||Motor|Office||
||vehicles|equipment|Totals|
||£|£|£|
|**COST**||||
|At 1 July 2020|24,100|38,693|92,612|
|Additions|433|6,203|17,388|
|Disposals|-|-|(2,618)|
|At 30 June 2021|24,533|44,896|107,382|
|**DEPRECIATION**||||
|At 1 July 2020|17,901|34,287|74,106|
|Charge for year|1,658|3,257|9,621|
|Eliminated on disposal|-|-|(2,618)|
|At 30 June 2021|19,559|37,544|81,109|
|**NET BOOK VALUE**||||
|At 30 June 2021|4,974|7,352|26,273|
|At 30 June 2020|6,199|4,406|18,506|
continued...
Page 17
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||30.6.21|30.6.20|
|||£|£|
||Other debtors|27,825|26,375|
||Prepayments and accrued income|7,668|16,789|
|||35,493|43,164|
|**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||30.6.21|30.6.20|
|||£|£|
||Bank loans and overdrafts (see note 14)|9,527|1,667|
||Trade creditors|3,058|4,326|
||Social security and other taxes|23,675|30,833|
||Other creditors|27,526|28,194|
||Accruals and deferred income|35,034|21,762|
|||98,820|86,782|
|**13.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||
|||30.6.21|30.6.20|
|||£|£|
||Bank loans (see note 14)|39,691|48,333|
|**14.**|**LOANS**|||
||An analysis of the maturity of loans is given below:|||
|||30.6.21|30.6.20|
|||£|£|
||Amounts falling due within one year on demand:|||
||Bank loans|9,527|1,667|
||Amounts falling between one and two years:|||
||Bank loans - 1-2 years|9,768|10,000|
||Amounts falling due between two and five years:|||
||Bank loans - 2-5 years|29,923|38,333|
The charity had previously applied for finance under the Bounce Back Loan Scheme.The term of the loan is over six years and carries a fixed rate of interest at 2.5% per annum. Interest for the first 12 months was paid by the UK Government and no repayments were required in this period. The loan is unsecured.
continued...
Page 18
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **15. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years
In more than five years|30.6.21
£
162,193
515,208
-
677,401|30.6.20
£
83,771
246,604
16,667|
|---|---|---|
|||347,042|
On 2 February 2021, the charity moved into new premises for a fixed term of five years. Previously, the charity had occupied adjacent premises in Harlow on a rent free basis.
## **16. MOVEMENT IN FUNDS**
|At 1.7.20
£
**Unrestricted funds**
General fund
400,540
**Restricted funds**
Parndon Wood
(2,166)
**TOTAL FUNDS**
398,374
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Parndon Wood
**TOTAL FUNDS**|Net
movement
in funds
£
106,119
(20,503)
85,616
Incoming
resources
£
714,585
46,435
761,020|Transfers
between
At
funds
30.6.21
£
£
(26,432)
480,227
26,432
3,763
-
483,990
Resources
Movement
expended
in funds
£
£
(608,466)
106,119
(66,938)
(20,503)
(675,404)
85,616|At
30.6.21
£
480,227
3,763|
|---|---|---|---|
||||483,990|
||||85,616|
continued...
Page 19
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.7.19
in funds
£
£
**Unrestricted funds**
General fund
315,628
95,403
**Restricted funds**
Parndon Wood
4,960
(17,617)
**TOTAL FUNDS**
320,588
77,786
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
654,407
**Restricted funds**
Parndon Wood
45,457
**TOTAL FUNDS**
699,864
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.7.19
in funds
£
£
**Unrestricted funds**
General fund
315,628
201,522
**Restricted funds**
Parndon Wood
4,960
(38,120)
**TOTAL FUNDS**
320,588
163,402|Transfers
between
At
funds
30.6.20
£
£
(10,491)
400,540
10,491
(2,166)
-
398,374
Resources
Movement
expended
in funds
£
£
(559,004)
95,403
(63,074)
(17,617)
(622,078)
77,786
Transfers
between
At
funds
30.6.21
£
£
(36,923)
480,227
36,923
3,763
-
483,990|
|---|---|
continued...
Page 20
## **ENVIRONMENTAL CONSERVATION CO-OPERATIVE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **16. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,368,992|(1,167,470)|201,522|
|**Restricted funds**||||
|Parndon Wood|91,892|(130,012)|(38,120)|
|**TOTAL FUNDS**|1,460,884|(1,297,482)|163,402|
The Parndon Wood Conservation Centre is a part grant funded project, providing access to the general public, supporting conservation work and running educational events and programmes to the local community.
## **17. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost of £15,071 (2020-£19,819) represents contributions payable by the charity. The amount unpaid at the year end was £2,666 (2020-£2,297).
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2021.
## **19. COMPANY STATUS**
The company is a company limited by guarantee and not having a share capital. Every member of the company undertakes to contribute in a winding up a sum not exceeding £10 whilst they are a member, or within one year after ceasing to be a member, towards debts and liabilities contracted before ceasing to be a member.
Page 21