Trustees' Annual Report for the period Period start date Period end date ~~a~~ From 1 April 2020 To 31 March 2021
This proforma has been modified as the charity is also registered as a company. As such, this report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime .
~~a~~ Section A Reference and administration details Charity name[United Bank of Carbon ] ~~re~~ Other names charity is known by UBoC Website www.uboc.co.uk ~~OO~~ Registered charity number 1133285 ~~a~~ Charity's principal address 1 Parliament Street, Harrogate North Yorkshire, Postcode HG1 2QU ~~————~~ Registered Company name and address United Bank of Carbon (registered company 06924700) 1 Parliament Street, Harrogate North Yorkshire, HG1 2QU
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|
| 1 Jonathan Wild | Chairman | Wholeyear | N/A |
| 2 Piers Forster | Wholeyear | N/A | |
| 3 Jennifer Harrison | Treasurer | Wholeyear | N/A |
| 4 Sheila Huntridge | Secretary | From 1 July2020 | N/A |
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year N/A ~~es~~
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Names and addresses of advisers (Optional information)
| Type of adviser | Name Address |
Name Address |
|---|---|---|
| Independent Examiner | David Belward | Coney Garth, 3 Kirkby Road, Ripon, North Yorkshire, HG4 2EY |
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Trust deed
Type of governing document (e.g. trust deed, constitution) Company Limited by Guarantee, United Bank of Carbon (registered How the charity is constituted company 06924700) (e.g. trust, association, company) Appointed by unanimous written decision of all existing Trustees Trustee selection methods
(e.g. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
-
policies and procedures adopted for the induction and training of trustees;
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the charity’s organisational structure and any wider network with which the charity works;
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relationship with any related parties;
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trustees’ consideration of major risks and the system and procedures to manage them.
Policies and Procedures
Trustees attend formal, minuted Steering Group meetings with the UBoC Team at the University of Leeds between three and four times per year to ensure good governance, management of donor funds and that the charitable work is meeting objectives. These meetings also consider and manage risks.
The Trustees meet independently of the Steering Group approximately four times per year, to review the workings of the charity, its governance and reporting, and its strategy. Trustees receive no remuneration and do not claim expenses.
There is an Independent Examiner to ensure good accounting oversight. United Bank of Carbon (UBoC) ensures its own Companies House submissions.
The School of Earth and Environment at the University of Leeds provided management and academic support during the Financial Year 2021.
On appointment, new trustees are given guidance on good governance, managing donor funds, managing risk and environmental responsibility. They are also asked to read the Charity Commission’s online documentation on the role of trustees. On 1 July 2020, Sheila Huntridge was appointed as a Trustee and Company Secretary. Jessica Clarke resigned as Company Secretary on 1 July 2020.
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Organisational Structure
UBoC’s structure is designed to minimise running costs and long-term contractual relationships costs. The Trustees have regular meetings with the UBoC Steering Group (SG) at the University of Leeds, which have minutes recorded. The SG report on progress and define both short-term objectives and longer-term strategy. Between these meetings commissioned work from the University of Leeds and pro-bono work by the Trustees and other co-opted team members deliver on these objectives. Each member of the UBoC team has a defined role. University of Leeds Steering Group team: Professor Dominick Spracklen (DS) and Dr Catherine Scott (CS) are scientific advisors to UBoC at the University of Leeds. CS is Director of the Leeds Ecosystem Atmosphere and Forest (LEAF) centre at the University of Leeds. At the start of this year Professor Piers Forster (PF) and Jessica Clarke (JC) were responsible for: UBoC’s day-to-day administration and accounting; organising Trustees’ meetings and recording of the minutes; preparing the annual statements and dealing with issues of governance. Following her appointment as Trustee and Company Secretary on 1 July 2020, Sheila Huntridge (SH) assisted in the preparation of the annual statements for the year ended 31 March 2020, In addition to her role as a Trustee of UBoC, SH has fully taken over as Company Secretary from JC, who retired as Company Secretary on 1 July 2020. CS and DS were responsible for liaising with the University of Leeds on staffing and studentships, organising Steering Group meetings and recording of the minutes. Anna Gugan (AG) is the Natural Capital Valuation Officer, leading on the i-Tree and natural capital valuation research and other local tree schemes, such as the Northern Forest at various scales. Hazel Mooney (HM) is the UBoC Science and Communications Officer, responsible for preparing content for both the UBoC and LEAF websites, organising events and working on various projects. HM is also undertaking a part-time Masters in Climate Change and Environmental Policy at the University of Leeds, funded by UBoC. Thomas Sloan (TS) joined the UBoC team at the University of Leeds from February 2021 as Forest Science and Policy Fellow, providing scientific oversight and input across UBoC funded projects. UBoC funds a number of postgraduate students at the University of Leeds, who also contribute to the charity’s activities; Steve Denison (SD), Jamie Wilson (JW), Charlotte Weaver (CW), Laura Kiely (LK), Will Rolls (WR), Jamie Carr (JC), Judith Ford (JF), Toby Green (TG) and Felicity Monger (FM). UBoC-affiliated academic staff (PF and DS) also supervise other PhD students: Hannah Birch (HB), Nike Doggart (ND) and Hannah Sherwood (HS). CW and WR have undertaken short periods of paid employment with UBoC to contribute to specific projects. CS managed UBoC webhosting, via Tsohost and HM managed web content via Wordpress. During 20/21 AG and HM led a redesign of the UBoC website, now located at: uboc.co.uk
To reduce overheads and financial risk, UBoC engages the University of Leeds and others on a consultancy basis for their time or solicits pro-bono work. The only longer-term financial commitment is to the part-funding of four PhD programmes at the University.
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Section C Objectives and activities
UBoC’s mission is to promote environmental sustainability by protecting and restoring the world’s forests and green spaces through environmentally and socially responsible partnerships. UBoC’s primary objectives for the public benefit are to:
Summary of the objects of the charity set out in its governing document
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1 Provide key research to assess the benefits of forests, woodland and green space for climate, biodiversity, water resources, local livelihoods, and health and wellbeing. Focusing on research with clear environmental, economic and societal impact.
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2 Support local and national businesses to realise the value of forests, woodland and green space for efficient and effective operational costs, net earnings, customer and employee retention and satisfaction, and environmental goals.
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3 Develop and maintain exemplar forest, woodland and green space projects with partners.
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4 Enhance environmental education around forests, woodland and green space in the Yorkshire region, UK national forests and tropical forests within each local community.
| 4 Enhance environmental education around forests, woodland and green space in the Yorkshire region, UK national forests and tropical forests within each local community. |
|
|---|---|
| The Trustees determine that UBoC has complied with the duty in | |
| section 4 of the Charities Act 2011 to have due regard to public benefit | |
| guidance published by the Charity Commission. | |
| UBoC has undertaken a number of public benefit activities: | |
| Main Activities: | |
| 1. Contribute to new knowledge through relevant peer-reviewed | |
| academic publications funded at least partly through UBoC. | |
| Summary of the main | (OBJECTIVE 1) |
| activities undertaken for the | 2. Generate income to support additional research through |
| public benefit in relation to | submission of funding proposals; capacity to do this has been |
| these objects (include within | enhanced by the LEAF network. (OBJECTIVE 1) |
| this section the statutory | 3. Develop a cohort of UBoC PhD students. (OBJECTIVE 1) |
| declaration that trustees have | 4. Translate knowledge outside of academia through joint LEAF- |
| had regard to the guidance | UBoC publications, research blogs and presentations. |
| issued by the Charity | (OBJECTIVE 2) |
| Commission on public | 5. Grow industry-supported/supervised research projects and PhDs. |
| benefit) | (OBJECTIVE 2) |
| 6. Grow engagement with industry partners. (OBJECTIVE 2) | |
| 7. Secure additional industry sponsorship for forest projects. | |
| (OBJECTIVE 2) | |
| 8. Reporting on existing projects. (OBJECTIVE 3) | |
| 9. Through LEAF, establish the Leeds Forest Observatory (LFO) in | |
| collaboration with Leeds City Council (CC). (OBJECTIVE 4) | |
| 10. Generate evidence to directly inform tree planting / conservation | |
| projects in the UK e.g. the Northern Forest (OBJECTIVES 2 & 4) |
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Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
UBoC maintains a £1 dormant investment in its trading arm company United Bank of Carbon Trading Ltd. (registered company 06579824)
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policy on grant making;
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policy programme related investment;
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contribution made by volunteers.
Section D Achievements and performance
Summary of the main achievements of the charity during the year
OVERSEAS PROJECTS
Rainforest and agroforestry projects partially or fully-funded through the efforts of UBoC continue to protect and restore ecologically important forests in tropical regions. Schemes include:
Vietnam: UBoC continued to support research activities linked to a project to protect and restore the Khe Nuoc Trong watershed protection forest. This has led to the government in Vietnam gazetting the Khe Nuoc Trong as a Nature Reserve, the highest level of protection in Vietnam (https://www.worldlandtrust.org/news/2020/09/conservation-win-invietnam-gives-another-chance-to-extinction-facing-asian-unicorn/).
Africa: In partnership with Reforest Africa, UBoC is supporting the establishment of the Udzungwa Botanic Garden near the Magombera Forest Reserve in Tanzania.
UK PROJECTS
UBoC continues to work with the University of Leeds and Leeds City Council (LCC) through the Leeds4Trees partnership. During 2020/2021 the Leeds4Trees partnership published a case study focusing on natural capital valuation in the Middleton Park ward of Leeds: https://leaf.leeds.ac.uk/news/a-case-study-of-natural-capital-valuation-inmiddleton-park/. As part of a planning policy review, UBoC are working with LCC to consider appropriate tree replacement rates that account for the ecosystem services lost when trees of different size and condition are felled/removed. Building on Leeds4Trees , UBoC is working with local authorities across West and North Yorkshire as part of the White Rose Forest Partnership: https://www.kirklees.gov.uk/beta/white-rose-forest/white-rose-forestpartnership.aspx. UBoC’s work is being used to inform local authority targets for tree canopy cover expansion that are in line with the net-zero ambitions of individual and groups of local authorities. As part of the same project, UBoC is exploring the contribution of trees outside woodlands to carbon sequestration and storage. UBoC has continued to support the Restoring Hardknott Forest project. (https://bag.leeds.ac.uk/projects/restoring-hardknott-forest/), a collaboration between the University of Leeds and Forestry England to restore a 630 hectare plantation to create one of the largest native woodlands in the Lake District National Park.
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Section D Achievements and erformance p
The Restoring Hardknott Forest project provides opportunities for volunteers, students and school children to contribute to the restoration of a wild native woodland. UBoC support contributed to the clearance of an area of invasive, non-native conifers that was too large to be safely tackled with volunteers. UBoC is a founding partner of Wild Ingleborough, a new collaboration with Natural England, Yorkshire Wildlife Trust, University of Leeds, Woodland Trust and WWF: https://www.uboc.co.uk/portfolio/wildingleborough-project/ . This new partnership aims to further the restoration of wildlife habitats around Ingleborough in the Yorkshire Dales National Park; UBoC has donated to and makes scientific contributions to the Wild Ingleborough project. OFFSETTING UBoC calculated and retired carbon credits via Plan Vivo for the Trees of Hope project in Malawi, to offset emissions from flights by New Zealandbased Bodeker Scientific. RESEARCH Due to the COVID-19 pandemic, UBoC PhD students and members of staff have virtually attended and presented work at several local, national and international conferences and meetings during the year 20/21, including: the European Geosciences Union General Assembly 2020; the Global Landscapes Digital Forum 2020; the European Union Biomass Conference and Exhibition (EUBCE); Trees, People and the Built Environment 4 (TPBE4); the American Geophysical Union Fall Meeting. The Leeds Ecosystem Atmosphere & Forest (LEAF) Centre UBoC's academic partner at the University of Leeds, is now a wellestablished network with members from the Schools of Geography, Biology, Earth & Environment, Engineering, Chemistry, Law, Psychology, Music and English. LEAF has a website (leaf.leeds.ac.uk) and an active presence on social media, with over 1,600 Twitter followers. CS is Director of LEAF and HM provides day-to-day support, writes content for the website and manages the social media. LEAF is now recognised as a key local and national source of expertise on woodlands and forests. PhDs and other student research UBoC is currently funding in part and/or providing supervision for 11 PhD students at the University of Leeds (UoL). SD is researching the response of the land carbon sink (including tree mortality) to climate change. ND is researching drivers of tropical deforestation and forest degradation. CW is researching deforestation and bioenergy. LK is researching deforestation, fire and rainfall over Borneo. WR is researching sustainability verification of biomass supply chains. FM is researching upland tree planting and flooding. JC is researching potential interactions between Sustainable Development Goals. TG and JF are researching bioenergy systems. PUBLICATIONS The UBoC funded team at the University of Leeds have written and contributed to a number of relevant peer-reviewed publications during the year 2020-2021:
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Section D Achievements and erformance p
Spracklen B, Spracklen DV . 2021. Determination of Structural Characteristics of Old-Growth Forest in Ukraine Using Spaceborne LiDAR. Remote Sensing. 13 (7). Carr JA, Petrokofsky G, Spracklen DV , Lewis SL, Roe D, Trull N, Vidal A, Wicander S, Worthington-Hill J, Sallu SM. 2021. Anticipated impacts of achieving SDG targets on forests - a review. Forest Policy and Economics. Spracklen B, Spracklen DV . 2021. Synergistic Use of Sentinel-1 and Sentinel-2 to Map Natural Forest and Acacia Plantation and Stand Ages in North-Central Vietnam. Remote Sensing. 13 (2) Butt EW, Conibear L, Reddington CL, Darbyshire E, Morgan WT, Coe H, Artaxo P, Brito J, Knote C, Spracklen DV . 2020. Large air quality and human health impacts due to Amazon forest and vegetation fires. Environmental Research Communications. 2 (9). Doggart N , Ruhinduka R, Meshack CK, Ishengoma RC, Morgan-Brown T, Abdallah JM, Spracklen DV , Sallu SM. 2020. The influence of energy policy on charcoal consumption in urban households in Tanzania. Energy for Sustainable Development: the journal of the international energy initiative. 57 , pp. 200-213. Rolls, W. and Forster, P.M ., 2020. Quantifying forest growth uncertainty on carbon payback times in a simple biomass carbon model. Environmental Research Communications , 2 (4), p.045001. Brown, A.E., Ford, J.S. , Bale, C.S., Camargo-Valero, M.A., Cheffins, N.J., Mason, P.E., Price-Allison, A.M., Ross, A.B. and Taylor, P.G., 2020. An assessment of road-verge grass as a feedstock for farm-fed anaerobic digestion plants. Biomass and Bioenergy . 138, p.105570. Kiely, L., Spracklen, D.V. , Wiedinmyer, C., Conibear, L., Reddington, C.L., Arnold, S.R., Knote, C., Khan, M.F., Latif, M.T., Syaufina, L., Adrianto, H.A. Air quality and health impacts of vegetation and peat fires in Equitorial Asia during 2004-2015. Environmental Research Letters , 15 (094054) 2020.
REGIONAL, NATIONAL AND INTERNATIONAL KNOWLEDGE EXCHANGE
Professor Piers Forster (PF), UBoC Trustee, has continued in his role on the Committee on Climate Change (CCC) having been appointed for a five-year term. PF has played a significant role authoring Intergovernmental Panel on Climate Change (IPCC) reports, and currently has a coordinating lead author role for the IPCC sixth assessment report. Dr Cat Scott (CS) presented as an expert commentator to several virtual Climate Change Citizens' Juries, organised by IPPR’s Environmental Justice Committee. Hazel Mooney (HM) is Chair of the Students for Trees project, a partnership between SOS-UK and the Woodland Trust to increase young people’s engagement with trees and woods in the UK.
UBoC submitted a contribution to Defra’s consultation around a new England Tree Strategy and the National Planning Policy Framework and National Model Design Code Consultation . To support our efforts to inform policy, UBoC and LEAF have begun collation of a series of policy briefs on the LEAF website: https://leaf.leeds.ac.uk/policy-briefs/.
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Section D Achievements and erformance p
UBoC PhD student Laura Kiely (LK) undertook a placement, as part of the FAZE-IN project, to develop a haze-monitoring tool for Equitorial Asia in partnership with colleagues in Indonesia.
UBoC contributed to the University of Leeds ‘Be Curious Goes Virtual’ festival and Bradford Science Festival. In partnership with Forest Research, AG and HM led an online citizen science tree canopy mapping exercise with volunteers from Zero Carbon Harrogate: https://www.uboc.co.uk/mapping-tree-canopy-cover-in-the-harrogatedistrict-2/. Members of the UBoC team contributed an article to The Woodland Trust’s Spring 2020 Wood Wise magazine.
The team contributed regular blogs and videos to the UBoC website and social media posts throughout the year. Members of the UBoC team have spoken at a number of online public events including a live panel debate as part of the European Geosciences Union 2020 meeting (available here), a Town and Country Planning Association webinar (available here), a LEAF Lunchtime Lecture, and a University of Leeds Alumni webinar (available here).
Section E Financial review
UBoC policy is to have sufficient reserve funds to enable the Trustees to Brief statement of the disband UBoC at any time and meet all existing contractual charity’s policy on reserves arrangements and additionally support any UBoC funded PhD students until completion of their 3.5 year funded PhD programme. The balance sheet is assessed at Trustee meetings and core costs will be reduced as necessary to sustain this working policy.
Details of any funds materially
in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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investment policy and objectives including any ethical investment policy adopted.
In July 2020 a gift agreement between UBoC and the University of Leeds was confirmed, securing funding for three years, which will benefit UBoC objectives and activities.
In addition, and following the year end 31 March 2021, UBoC signed a Gift Agreement with the Yorkshire Wildlife Trust to help support the acquisition and management of land at Ingleborough, North Yorkshire, by the Wild Ingleborough Partnership. The Wild Ingleborough Partnership consists representatives of the Yorkshire Wildlife Trust, United Bank of Carbon, University of Leeds, Natural England, Woodland Trust and World Wildlife Fund.
- A Partnership and Funding Agreement was also signed between the Woodland Trust, the United Bank of Carbon and University of Leeds to help support the acquisition of land at Snaizeholme, North Yorkshire, and to support ongoing research and monitoring at the site. Furthermore, UBoC was awarded a grant of £140,900 from the Green Recovery Challenge Fund in June 2021 to go towards the project costs for Restoring Hardknott Forest in the Lake District National Park. The University of Leeds is designated as the Delivery Partner.
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~~OO—CSCSC‘CCtés~~ Section F Other optional information ~~PT~~ N/A
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Jonathan Wild | Piers Forster | Jennifer Harrison | Sheila Huntridge |
| Chair ~~ee~~ |
Trustee ~~ee~~ |
Treasurer ~~ee~~ |
Trustee Company Secretary ~~ee~~ |
| 26 November 2021 ~~ee~~ |
26 November 2021 ~~ee~~ |
26 November 2021 26 November 2021 ~~ee~~ |
26 November 2021 ~~ee~~ |
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Company Registration No. 06924700 Charity No: 1133285
United Bank of Carbon
Report and unaudited financial statements Year ended 31 March 2021
Contents
| Contents | ||
|---|---|---|
| United Bank of Carbon | 1 | |
| Report and financial statements 2021 | 1 | |
| Directors and Officers | 1 | |
| Directors’ Report | 2 | |
| Income and Expenditure for the year ended 31 March 2021 | 5 | |
| Cash Flow for the year ended 31 March 2021 | 6 | |
| Balance sheet as at 31 March 2021 | 6 | |
| Audit Exemption and Accounting Policy Statement | 6 | |
| Directors’ responsibilities: | 7 | |
| Notes to the accounts as at 31 March 2021 | 8 | |
| 1. The basis of accounting and accounting policies | 8 | |
| 2. Critical accounting judgements and statement of financial activities | 8 | |
| 3. Information regarding directors and employees | 10 | |
| 4. Funding | 10 | |
| 5. HMRC Gift Aid Repayment | 10 | |
| 6. Significant Expenses | 10 | |
| 7. Commitments | 10 | |
| 8. Post balance sheet events | 10 | |
| 9. Investment in the United Bank of Carbon Trading Limited | 10 |
Report and financial statements 2021
Directors and Officers
Prof Piers Forster Dr Jonathan Wild Jennifer Harrison Sheila Huntridge (Appointed 1 July 2020) Secretary Sheila Huntridge (Appointed 1 July 2020) Jessica Clarke (Resigned 1 July 2020)
Registered Office
1 Parliament Street Harrogate North Yorkshire HG1 2QU
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Directors’ Report
UBoC Outreach:
During the year, the United Bank of Carbon (UBoC) has continued to direct and contribute to many community outreach initiatives designed to promote environmental sustainability by protecting and restoring the world’s forests and green spaces.
Professor Piers Forster (Director of the Priestley International Centre for Climate and Professor of Physical Climate Change at the University of Leeds), UBoC Trustee, continues in his role as a member of the Government’s Committee on Climate Change (CCC) having been appointed for a five-year term in December 2018.
Hazel Mooney is Chair of the Students for Trees project, a partnership between SOS-UK and the Woodland Trust to increase young people’s engagement with trees and woods in the UK.
UBoC /LEAF (Leeds Ecosystem, Atmosphere and Forest) staff and University of Leeds (UoL) PhD students have contributed to several virtual public events, including the University of Leeds’ “Be Curious Goes Virtual”, the Bradford Science Festival, and several webinars and panel debates.
UBoC Projects:
UBoC continues to work with the University of Leeds (UoL) and Leeds City Council (LCC) through the Leeds4Trees partnership. During 2020/2021 the Leeds4Trees partnership published a case study focusing on natural capital valuation in the Middleton Park ward of Leeds. As part of a planning policy review, UBoC are working with LCC on appropriate tree replacement rates that consider the ecosystem services lost when trees of different size and condition are felled/removed. Building on Leeds4Trees , UBoC is working with local authorities across West and North Yorkshire as part of the White Rose Forest Partnership.
UBoC has continued to support the Restoring Hardknott Forest project in Cumbria. UBoC is a founding partner of Wild Ingleborough, a new collaboration with Natural England, Yorkshire Wildlife Trust, University of Leeds, Woodland Trust and WWF to restore wildlife habitats in the Yorkshire Dales National Park.
Carbon offsetting:
UBoC calculated and retired carbon credits via Plan Vivo for the Trees of Hope project in Malawi, to offset emissions from flights by New Zealand based Bodeker Scientific.
UBoC Research:
UBoC PhD students and members of research staff from the University of Leeds have virtually attended and presented work at several local, national and international conferences, including: the European Geosciences Union General Assembly 2020; the Global Landscapes Digital Forum 2020; the European Union Biomass Conference and Exhibition (EUBCE); Trees, People and the Built Environment 4 (TPBE4); the American Geophysical Union Fall Meeting.
The Leeds Ecosystem, Atmosphere and Forest (LEAF) centre at the University of Leeds, is now a well-established network with members from the Schools of Geography, Biology, Earth & Environment, Engineering, Chemistry, Law, Psychology, Music and English. LEAF has a website (leaf.leeds.ac.uk) and an active presence on social media, with over 1,600 Twitter followers.
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Dr Cat Scott is Director of LEAF and Hazel Mooney provides day-to-day support, writes content for the website and manages the social media. LEAF is now recognised as a key local and national source of expertise on woodlands and forests.
Postgraduate research programmes :
UBoC has funded in part and/or provided supervision during the year ended 31 March 2021, for more than 9 PhD students at the University of Leeds. Projects include: researching the impact of forests/deforestation on climate; deforestation and bioenergy; deforestation, fire and rainfall over Borneo; sustainability verification of biomass supply chains; upland tree planting and flooding; potential interactions between Sustainable Development Goals; drivers of tropical deforestation and degradation; and the response of the land carbon sink to climate change.
Research impact:
UBoC funded PhD students and staff have written and contributed to a number of peer-reviewed publications during the year 2020-2021. The team also contributed regular blogs and videos to the UBoC /LEAF website and social media posts throughout the year.
Going Concern:
UBoC policy is to have sufficient reserve funds to enable the Trustees to disband UBoC at any time while meeting all existing contractual arrangements and additionally support for any UBoC funded PhD students until completion of their 3.5 year funded PhD programme. The balance sheet is assessed at Trustee meetings and core costs will be reduced as necessary to sustain this working policy.
3
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
The directors who all served throughout the year were as follows:
Prof Piers Forster
Dr Jonathan Wild
Jennifer Harrison
Sheila Huntridge was appointed as a director and Company Secretary on 1 July 2020 Jessica Clarke resigned as Company Secretary on 1 July 2020
Approved and signed on its behalf by Jonathan Wild (Chair), Piers Forster, Jennifer Harrison and Sheila Huntridge.
| and Sheila Huntridge. | ||
|---|---|---|
| Signature ~~ee~~ ~~ |
~~ | Print Name ~~ee~~ ~~ |
| ~~vet~~ ~~ |
~~ | Jonathan Wild ~~vet~~ ~~ |
| ~~ | ~~ ~~dome~~ |
Piers Forster ~~ |
| ~~dome~~ ~~Shwe~~ |
Jennifer Harrison ~~ |
|
| ~~dome ~~ ~~Shwe~~ |
Sheila Huntridge ~~ |
1 Parliament Street, Harrogate, North Yorkshire HG1 2QU
Date: 26 November 2021
4
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
| Income and Expenditure for the year ended 31 March 2021 | |||
| FY 21 Total | FY 20 Total | ||
| £ | £ | ||
| Income from: | |||
| Income from donations: | |||
| Donations to the company | 19,865 | 84 | |
| Restricted funds,donations toprojects | 116,867 | 1,873 | |
| HMRC Gift Aid | 227 | ~~-~~ | |
| Charitable activities: | |||
| Carbon credits sale(restricted) | 310 | 2,173 | |
| Total income | 137,269 | 4,130 | |
| Expenditure on: | |||
| Raising funds: | |||
| Fundraisingand marketing | ~~-~~ | ~~-~~ | |
| Charitable activities: | |||
| Project expenditure | 8,615 | 8,497 | |
| Hardknott Project expenditure | 2,323 | 12,860 | |
| Gift Agreement – Universityof Leeds | 112,500 | ||
| Carbon creditpurchase | ~~-~~ | 9,340 | |
| PhD studentships and stipends | 2,750 | 40,406 | |
| University of Leeds contracted staff costs |
34,377 | 76,420 | |
| Consultancy+ training | 500 | 7,181 | |
| Other expenditure: Bank charges | 53 | 33 | |
| Total expenditure | 161,118 | 154,737 | |
| Net income/(expenditure) before other recognisedgains/(losses) |
|||
| Net movement in funds | (23,849) | (150,607) | |
| Total funds brought forward | 161,172 | 311,779 | |
| Total funds carried forward | 137,323 | 161,172 | |
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Cash Flow for the year ended 31 March 2021
| Cash Flow for theyear ended 31 March 2021 | Cash Flow for theyear ended 31 March 2021 | Cash Flow for theyear ended 31 March 2021 |
|---|---|---|
| FY21 | FY20 | |
| Operating Activities | £ | £ |
| Cash received from donations Other cash received Cash paid to projects and core costs Cash flow from operatingactivities |
136,959 310 (161,118) (23,849) |
1,957 2,173 (154,737) (150,607) |
| Total Net Cash Flow | (23,849) | (150,607) |
| Balance sheet as at 31 | March 2021 | |
|---|---|---|
| FY21 | FY20 | |
| £ | £ | |
| Non-Current Assets | ||
| Investments | 1 | 1 |
| 1 | 1 | |
| Current Assets | ||
| Cash at bank and in hand | 137,323 | 161,172 |
| Debtors | ~~-~~ | ~~-~~ |
| Current Liabilities | ||
| Investment liability | (1) | (1) |
| Total assets less current liabilities | 137,322 | 161,171 |
| Net assets | 137,323 | 161,172 |
| Members’ Capital | ||
| Retained Earnings: profit and loss account |
137,323 | 161,172 |
Audit Exemption and Accounting Policy Statement
For the year ending 31 March 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 (‘the Act’) relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Directors’ responsibilities:
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records that comply with section 386 of the Companies Act. The directors also acknowledge their responsibilities for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial year in accordance with section 396 of the Act and which otherwise comply with the requirements of that Act relating to accounts, so far as applicable to the company.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements on were approved and authorised for issue by the Board of Directors on 26 November 2021 and signed on its behalf by Jonathan Wild (Chair), Piers Forster, Jennifer Harrison and Sheila Huntridge.
~~a~~ Signature Print Name Date of approval Jonathan Wild 26 November 2021 ~~roe| |~~ Piers Forster 26 November 2021 Jennifer Harrison 26 November 2021 ~~dome | |~~ Sheila Huntridge 26 November 2021 ~~Store TT~~
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Notes to the accounts as at 31 March 2021
1. The basis of accounting and accounting policies
The company is a private company limited by guarantee without a share capital, registered in England and Wales (No. 06924700) with its registered office at 1 Parliament Street, Harrogate, North Yorkshire HG1 2QU.
The functional currency of the company is considered to be pounds sterling and the financial statements are presented in pounds sterling.
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom law and accounting standards applicable to companies subject to the small companies’ regime and in accordance with the provisions of section 1A of FRS 102.
The resources expended have been divided into categories in accordance with Charity Commission guidance for a charity that is a company and annually makes between £25,000 and £250,000.
- Critical accounting judgements and statement of financial activities
In the application of the company's accounting policies, which are described in Note 1, the directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that may not be readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Estimates, along with the associated underlying assumptions, are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no significant estimates or judgements used in presenting the accounts.
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Section A Statement of financial activities
| Recommended categories by activity Incoming resources Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 Total S07 Resources expended Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 Total S12 Net income/(expenditure) before investment gains/(losses) S13 Net gains/(losses) on investments S14 Net income/(expenditure) S15 Extraordinary items S16 Transfers between funds S17 Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use S18 Other gains/(losses) S19 Net movement in funds S20 Reconciliation of funds: Total funds brought forward S21 Total funds carried forward S22 |
Unrestricted funds Restricted income funds £ £ F01 F02 |
Unrestricted funds Restricted income funds £ £ F01 F02 |
Endowment funds £ F03 |
Total funds £ F04 |
Prior year funds £ F05 |
|---|---|---|---|---|---|
| 19,865 | 117,094 |
- | 136,959 | 1,957 |
|
| - | 310 | - |
310 | 2,173 | |
| - | - | - | - | - | |
| - | - | - | - | ||
| - | - | - | - | - | |
| - | - | - |
- |
- | |
| 19,865 | 117,404 |
- |
137,269 |
4,130 |
|
| - | - | - | - | - | |
| 37,653 | 123,412 |
- |
161,065 | 154,704 |
|
| - | - | - | - | - | |
| 53 | - | - |
53 |
33 | |
| 37,706 | 123,412 | - |
161,118 |
154,737 | |
| (17,841) | (6,008) |
- | (23,849) | (150,607) |
|
| - | - | - | - | - | |
| (17,841) | (6,008) | - | (23,849) | (150,607) | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - |
- | |
| (17,841) | (6,008) | - | (23,849) | (150,607) | |
| 161,172 | - | - | 161,172 |
311,779 | |
| 143,331 | (6,008) | - | 137,323 |
161,172 |
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
3. Information regarding directors and employees
The company had no employees during the current and preceding year. No emoluments were payable to the directors of the company during the current and preceding financial year.
4. Funding
A gift agreement between UBoC and the University of Leeds was confirmed on
1 July 2020 securing funding for three years, which will benefit UBoC objectives and activities.
5. HMRC Gift Aid Repayment
Gift Aid received in the year ended 31 March 2021 relates to six donations from six individuals.
6. Significant Expenses
Significant expenses on charitable activities in the year included, £34,377 in payment to the University of Leeds for University contracted staff time; £2,750 in payment for PhD studentships at the University Leeds.
A sum of £112,500 was paid to the University of Leeds as part of a three-year Gift Agreement which was confirmed in July 2020.
The intention of the Gift Agreement is that the funds be used by the University of Leeds to help support, inform and accelerate large-scale forest restoration in Yorkshire, the UK and globally through research, outreach and stakeholder engagement.
7. Commitments
UBoC funds PhD students and as at year ended 31 March 2021 £20,529 is expected to be paid to fund in part 3 ongoing studentships over the next 2 years.
8. Post balance sheet events
Following the year end 31 March 2021, UBoC signed a Gift Agreement with the Yorkshire Wild Life Trust to help support the acquisition and management of land at Ingleborough, North Yorkshire, by the Wild Ingleborough Partnership. The Wild Ingleborough Partnership consists representatives of the Yorkshire Wildlife Trust, United Bank of Carbon, University of Leeds, Natural England, Woodland Trust and World Wildlife Fund.
A Partnership and Funding Agreement was also signed between the Woodland Trust, the United Bank of Carbon and University of Leeds to help support the acquisition of land at Snaizeholme, North Yorkshire, and to support ongoing research and monitoring at the site.
In addition, UBoC was awarded a grant of £140,900 from the Green Recovery Challenge Fund in June 2021 to go towards the project costs for Restoring Hardknott Forest in the Lake District National Park. The University of Leeds is designated as the Delivery Partner.
9. Investment in the United Bank of Carbon Trading Limited
The company has an investment of £1, being the whole of the issued capital of the United Bank of Carbon Trading Limited (incorporated in the United Kingdom with Registration Number 6579824). United Bank of Carbon Trading Limited is dormant and has not traded since its incorporation in 2008.
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United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
• CHARITY COMMISSION I FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent ExaminÈVs Report Report to the tru8tee81 rnembers of On accounts for the year ended 3 1 20£( Charlty no (if any) 1137 Iss Set out on pages I t- io I reFort tts the Irusl6es on my examination of thè acrnurrts of the above charity ("the Trust'l for the year end8d Responsibilities and As the tharTty trustees of the Trust, you are respensiblo for the preparation basis of report of IhfJ accounts in accordance with th8 requirènents of the Charities Acl 20111'lhe ACY). I report in respect of my examin81ion of the Trust's accounts carried out under section 145 cf the 2011 Act and in Garying out my examin81ion, I have folloed the applicable Directions given by th8 Charity Commission under section 145(51(b) cf thè Ad. I hav8 completed my examination. I confirm Ihat no material matters have Come to my attention lolher than Ihal disclosed below.) in conneciion wrth the examination kthich gives me cause to believe thal in. any material spect.. acccunting rerdS were not kept in accordanc8 section 130 of the Act or the 8ccounts do not accord wth thè ar)UntIng records I have no nCernS and havo come across no other matters in eonnectiDn wlh the examination lo which attention should be drawn in order to enabl8 proper understanding of the accounts lo be reached. . Please delete the ivottls in the brdckets rf they Gtj nol apply. Independent examlnefs statement Signed: Date: Namo: Relevant professional qualrficatlonlsl or body (rf any): Addrnss: IER October 2018