**Trustees' Annual Report for the period Period start date Period end date From** 1 April 2024 **To** 31 March 2025
**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** .
|Section A Reference and administration details
**Charity nameUnited Bank of Carbon**
**Other names charity is known by**UBoC
**Website**www.uboc.co.uk
**Registered charity number**1133285
**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**|Section A Reference and administration details
**Charity nameUnited Bank of Carbon**
**Other names charity is known by**UBoC
**Website**www.uboc.co.uk
**Registered charity number**1133285
**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**|Section A Reference and administration details
**Charity nameUnited Bank of Carbon**
**Other names charity is known by**UBoC
**Website**www.uboc.co.uk
**Registered charity number**1133285
**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**|
|---|---|---|
|**Charity name**
**Other names charity is known by**
**Website**
**Registered charity number**
**Charity's principal address**
**Registered Company name and address**|||
||**United Bank of Carbon**||
||||
||UBoC||
||www.uboc.co.uk||
||1133285||
||1 Parliament Street,||
||Harrogate||
||North Yorkshire,||
||**Postcode **|**HG1 2QU**|
||||
||
**United Bank of Carbon**
**(registered company 06924700)**||
||1 Parliament Street,||
||Harrogate||
||North Yorkshire,|**HG1 2QU**|
## **Names of the charity trustees who manage the charity**
|1
2
3
4|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or**
**body) entitled to**
**appoint trustee(if any)**|
|---|---|---|---|---|
||Jonathan Wild|Chair|Wholeyear|N/A|
||Piers Forster||Wholeyear|N/A|
||Jennifer Harrison|Treasurer|Wholeyear|N/A|
||Sheila Huntridge|Secretary|Wholeyear|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||
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## **Names and addresses of advisers (Optional information)**
|**Type of adviser**|**Name**
**Address**|**Name**
**Address**|
|---|---|---|
|**Independent Examiner**|Kerry Birch
FCCA, CTA
Peter Howard & Co|4 Wharfe Mews, Cliffe Terrace, Wetherby, LS22 6LX|
||||
||||
||||
## **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 The United Bank of Carbon (UBoC) is a registered environmental charity additional information, where dedicated to the protection, planting, and restoration of trees and forests relevant, about: both within the United Kingdom and across the world. The UBoC Research Team of scientists based at the School of Earth and • policies and procedures Environment at the University of Leeds provides both management and adopted for the induction and academic expertise, playing a vital role in the achievement of the charity’s training of trustees; environmental objectives. • the charity’s organisational **Governance Structure:** structure and any wider network with which the charity **Independent Trustees meetings** works; The Trustees meet independently between three and four times annually. • The focus of these meetings is to review the charity’s activities and relationship with any related finances, review governance and reporting procedures, and evaluate parties; strategic direction. The Trustees also carry out regular assessments of the • trustees’ consideration of trustees’ consideration of risks facing the charity and appraise their own performance. Plans to major risks and the system manage and mitigate both potential and identified risks are monitored, and procedures to manage updated, and acted upon accordingly.
- trustees’ consideration of trustees’ consideration of major risks and the system and procedures to manage them.
The Trustees do not receive any form of remuneration, nor do they claim expenses for their work with the charity. **Steering Group Meetings** The Trustees attend Steering Group meetings with the UBoC Research Team of scientists. These meetings are held between three and four times each year and are formally minuted to ensure and uphold good governance practices, oversee the management of donor funds, and that the charity’s activities are aligned with its objectives. In addition, these meetings provide a forum for the consideration and management of any risks facing the organisation.
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## **Financial oversight**
An Independent Examiner is appointed to ensure robust oversight of the charity’s financial practices. The United Bank of Carbon is also responsible for its own submissions to Companies House, ensuring compliance with statutory requirements.
## **Trustee Induction and Guidance**
When new Trustees are appointed they receive guidance covering aspects such as good governance, donor fund management, risk management, and environmental responsibilities. In addition, new Trustees are required to read the Charity Commission’s online documentation outlining the role and responsibilities of charity trustees.
## **Organisational Structure**
UBoC’s structure is designed to minimise operational costs and long-term contractual relationships costs.
Sheila Huntridge (SH), Trustee and Company Secretary, manages UBoC’s daily administration and accounting, organises Trustees’ meetings, records minutes, prepares annual statements, and oversees governance. She is fully supported by the other Trustees.
The Trustees hold regular meetings with the UBoC Steering Group (SG) at the University of Leeds to review progress on agreed short- and longterm objectives. Between these meetings commissioned work from the University and pro-bono work by Trustees and other co-opted team members, contributes to the delivery of these objectives. Each member of the SG team has a defined role.
## **University of Leeds Research Team of Scientists** :
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. CS and DS are responsible for liaising with the University of Leeds on staffing and studentships.
Thomas Sloan (TS) is UBoC’s Forest Science and Policy Fellow and provides scientific oversight and input across UBoC funded projects. TS is responsible for organising Steering Group meetings and recording minutes of meetings.
Robin Hayward (RH) is UBoC’s Science and Communications Officer and is responsible for preparing content for both the UBoC and LEAF websites, managing UBoC’s social media presence and delivering various engagement activities.
Sophie Brandon (SB) is UBoC’s Nature Based Solutions Project Officer and is responsible for leading volunteer engagement and practical conservation, in particular at the Gair Wood project. George Porton (GP) and Robyn Wrigley (RW) are Research Assistants who work on UBoC-affiliated projects, primarily Wild Ingleborough and Snaizeholme. UBoC partially funds a number of postgraduate students at the University of Leeds who also contribute to the charity’s activities: UBoC-affiliated academic staff (Piers Forster, Dominick Spracklen, and Cat Scott) also supervise other students undertaking forest related PhDs.
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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**
**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.
**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.
**3.** Develop and maintain exemplar forest, woodland and green
space projects with partners.
**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.
Following the year-ended 31 March 2024, a new Gift Agreement between UBoC and the University of Leeds (UoL) was agreed securing funding for a further period of five years from July 2024 to the end of June 2029, which will be used by the University to initiate a new _Alliance for Northern Nature_ that brings together regional, national and international organisations to design, deliver and monitor ambitious nature recovery and climate action across the UK _._ The funding will also support the wider work of the Leeds Ecosystem, Atmosphere and Forest (LEAF) centre at the University of Leeds
**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
As part of this new funding agreement the charity and UBoC supported team at the University of Leeds have updated the aims of the charity to the include a number of public benefit activities which UBoC has undertaken:
**1. Initiate a new** _**Alliance for Northern Nature**_ **to provide overall leadership and coordination of all UBoC supported UK projects. This** _**Alliance**_ **will:**
- **a)** Work closely with regional, national and international organisations to design and deliver at least three ambitious landscape-scale (10,000 hectare+) initiatives of national importance.
- **b)** Act as a convening hub, providing a forum for discussions and dissemination of knowledge from UBoC’s “Living Laboratory” projects.
- **c)** Provide evidence to local, regional and national policy makers to support the planning and delivery of woodland creation and habitat restoration across the UK.
- **d)** Use UBoC’s “Living Laboratory” sites as bases for education and communication with local communities including schools, colleges and Universities.
- **e)** Leverage funding from other sources for any UBoC investment into the _Alliance_ .
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**2. Support LEAF to:**
- **a)** Provide leadership and act as an ambassador for tree and woodland related research at the University of Leeds.
- **b)** Communicate the latest forest-related research from across the wider LEAF network at the University of Leeds in ways which are accessible to a range of target audiences.
- **c)** Provide evidence to local, regional, national and global policy makers on the role of trees and woodlands in tackling both climate and biodiversity crises.
- **d)** Lead and coordinate large funding proposals to support world-leading research to build the evidence base on the importance of trees and woodland in tackling global challenges.
- **e)** Educate and inspire a range of demographics on the subject of trees and woodlands through hands-on activities and talks at science fairs and events, and the production of free tree and woodland-related resources, in partnership with other national organisations.
- **f)** Create a legacy of high-quality science communication beyond the immediate team by providing training and support for researchers to undertake their own communication work.
## **Additional details of objectives and activities (Optional information)**
UBoC maintains a £1 dormant investment in its trading arm company You **may choose** to include United Bank of Carbon Trading Ltd. (registered company 06579824) further statements, where relevant, about:
- policy on grant making;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
We have a number of objectives as listed above in section C. Progress **Summary of the main** against annual milestones to further these objectives is presented to the **achievements of the charity** trustees in a written report on a quarterly basis. **during the year**
We raise private funds and public grants and commission work to deliver these objectives, with University of Leeds (UoL) as the principal delivery partner. UBoC has no direct employees.
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Section D Achievements and performance
Currently the main focus of the charity is on work within the UK.
We have four areas of primary interest with key partner projects:
**1. The Leeds Ecosystem, Atmosphere and Forest (LEAF) Centre** . LEAF is a network of forest and woodland researchers at the University of Leeds, led by CS and coordinated by UBoC supported staff. It connects UBoC researchers with external organisations to help deliver policy impact from research. Key partners include White Rose Forest (WRF) and Leeds City Council (LCC) who collaborate through LEAF to inform carbon strategies, tree planting, and urban planning. This financial year LEAF supported WRF's new Action Plan, joined the WRF Leeds District Group, and contributed UBoC research on tree replacement rates to LCC’s draft Local Plan, which has now completed public consultation.
**2. West Lakes.** The 630-hectare _Restoring Hardknott Forest Project_ in South Cumbria demonstrates UBoC’s commitment to leadership and scientific monitoring within a partnership that includes Forestry England, the University of Leeds, the John Muir Trust, and commercial sponsors such as Northern Monk Brewery through their Faith in the Future foundation. This site forms part of the broader Upper Duddon Landscape Recovery project. Scientific monitoring includes surveys of butterflies and moths, assessments of adder and dormouse populations, evaluations of deer impact, and drone-based deer monitoring. Practical conservation activities undertaken at the site include tree tube maintenance and removal, dry-stone wall restoration, dam repairs, and wildflower and tree planting initiatives. The project features a new plant nursery, initially prioritising the cultivation of wildflowers and rare high-altitude scrub species. The team has also contributed to ongoing monitoring for the South Cumbria Pine Marten Recovery Project, with involvement from staff across both Restoring Hardknott Forest and Upper Duddon Landscape Recovery projects. Outreach initiatives include school visits, bat and wildlife walks, and volunteer engagement days.
**3. Western Dales.** The 1200-hectare _Wild Ingleborough Partnership_ in the Yorkshire Dales involves collaboration with Natural England, the Yorkshire Wildlife Trust, the Woodland Trust, WWF-UK, the University of Leeds, and commercial sponsors. Annual monitoring activities include surveys of butterflies, tree survival rates, vegetation in longterm monitoring plots, and watercourses. Practical conservation work includes site boundary maintenance, thistle management, seed collection and propagation, as well as peatland restoration. The site maintains a tree and wildflower nursery. During the winter 28,100 trees were planted, bringing the total number of trees to over 150,000 since the start of the project in summer 2021. The site also hosts public engagement events such as Ground Nest Fest, school outreach and tours (including Nature Connection Days and The Curlew Schools Project), stakeholder meetings and guided walks.
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Section D Achievements and performance
**4. Gair Wood.** The 36-hectare _Gair Wood project_ in is North Leeds where UBoC provides leadership, scientific guidance and volunteering support as part of our partnership with the University of Leeds. The site has welcomed groups for tours, collaboration and conservation volunteering from institutions such as the Universities of Warwick and Birmingham, ITV Studios, the Environment Agency, the UK National Wealth Fund, the Leeds International Piano Competition and various local volunteer organizations. Ongoing scientific monitoring includes soil, vegetation, tree survival and animal abundance surveys. Gair Wood also serves as an educational venue supporting several student dissertation projects and field courses running throughout the year. Practical conservation work has focused on upgrading tree guards to minimise browsing pressure on the trees. The project was recognized with the University of Leeds “Research Culture 2024” award in the “Diverse Forms of Research Activity” category.
UBoC continues to support two postgraduate students (via direct funding or CASE partnerships) doing specific research in support of UBoC projects or work of global significance.
UBoC supported staff at UoL also supervise other students who are encouraged to build networks and exchange knowledge via support of the _Leeds Ecosystem, Atmosphere and Forest Centre_ (LEAF), and to engage in education and outreach work.
In addition to the specific projects listed above, the UBoC supported team has carried out numerous outreach and engagement activities over the year. Members of UBoC have also promoted work through presentations to groups including Defra, the “BIG” and “CAKE” science communicator’s conference, British Ecological Society, Pint of Science, Eureka! the National Children’s Museum, the PANORAMA Doctoral Training Partnership conference, the Natural History Consortium Communicate Nature conference, the "Harvesting Balance" conference for Landscape Recovery projects at Huddersfield University, and via a LEAF Day conference organised internally by the University of Leeds team. Outreach activities for the year also included school visits, public science festivals, University of Leeds campus tree trail events, and media interviews.
**Acknowledgements** The Trustees would like to express their gratitude to the UBoC Research Team of Scientists at the University of Leeds: Professor Dominick Spracklen, Dr Cat Scott, Dr Thomas Sloan and Dr Robin Hayward.
Their ongoing support and work throughout the year have been invaluable in advancing the charity's objectives. The Trustees recognise the vital contribution of these scientists in delivering high-quality research and their dedication to environmental sustainability.
The Trustees also wish to extend their thanks and appreciation to all project teams, partnerships and volunteers involved in UBoC activities. Over the past year these dedicated individuals and collaborative groups have continued to develop and flourish. The Trustees commend the truly remarkable achievements and significant progress realised as a direct result of their efforts. Their dedication and enthusiasm have greatly enhanced the charity's capacity to effect positive change and deliver on its core objectives.
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Section D Achievements and performance
## **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:
- the charity’s principal sources of funds (including any fundraising);
- how expenditure has supported the key objectives of the charity;
- investment policy and objectives including any ethical investment policy adopted.
In July 2020, UBoC and the University of Leeds confirmed a three-year funding agreement to benefit UBoC objectives and activities. In 2023 the three-year was extended to the end of June 2024 to enable the Charity’s objectives, which had been outlined and agreed in 2020, to be completed and to a certain extent to take into account the adverse effect the COVID pandemic had on progress against the objectives.
Following the year-ended 31 March 2024 a new five-year agreement was reached providing funds from July 2024 to June 2029 to initiate a new _Alliance for Northern Nature_ that brings together regional, national and international organisations to design, deliver and monitor ambitious nature recovery and climate action across the UK _._ The funding will also support the wider work of the Leeds Ecosystem, Atmosphere and Forest (LEAF) centre at the University of Leeds
During the year UBoC also made a donation to help support the acquisition of land in Wharfedale by the Yorkshire Wildlife Trust, who will work to restore the land for wildlife and wider ecosystem service benefits.
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**Section F Other optional information**
N/A
**The trustees declare that they have approved the trustees’ report above.**
## **Signed on behalf of the charity’s trustees**
|**Signatures**
**Names**
**Position**
**(e.g. Chair.**
**Secretary, etc.)**
**Date**|||||
|---|---|---|---|---|
||Jonathan Wild|Piers Forster|Jennifer Harrison|Sheila Huntridge|
||
Trustee & Chair|Trustee|Trustee & Treasurer|Trustee
& Company
Secretary|
||6 November 2025|6 November
2025|6 November 2025|6 November 2025|
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Company Registration No. 06924700 Charity No: 1133285
United Bank of Carbon
Report and unaudited financial statements Year ended 31 March 2025
|Contents|||
|---|---|---|
|**United Bank of Carbon**|**1**||
|Report and financial statements 2025||1|
|**Directors and Officers**||1|
|Directors’ Report||2|
|Income and Expenditure for the year ended 31 March 2025||5|
|Cash Flow for the year ended 31 March 2025||6|
|Balance sheet as at 31 March 2025||6|
|Audit Exemption and Accounting Policy Statement||6|
|Directors’ responsibilities:||7|
|Notes to the accounts as at 31 March 2025||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. Significant Expenses||10|
|6. Commitments||10|
|7. Investment in the United Bank of Carbon Trading Limited||10|
Report and financial statements 2025
## **Directors and Officers**
Prof Piers Forster Dr Jonathan Wild Jennifer Harrison Sheila Huntridge
## **Secretary**
Sheila Huntridge
Registered Office
1 Parliament Street Harrogate North Yorkshire HG1 2QU
1
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Directors’ Report
## UBoC Outreach:
Throughout the year, the United Bank of Carbon (UBoC) has continued to direct and contribute to many community outreach initiatives aimed at promoting environmental sustainability through the protection and restoration of forests and green spaces.
UBoC Trustee, Professor Piers Forster is the Director of the Priestley Centre for Climate Futures and Professor of Physical Change at the University of Leeds. In the past year he served as Interim Chair of the UK’s Climate Change Committee (CCC) where he has been a member since 2018.
The Leeds Ecosystem, Atmosphere and Forest (LEAF) centre at the University of Leeds is a network comprising members from various University of Leeds schools including Geography, Biology, Earth & Environment, Engineering, Chemistry, Law, Psychology, Music, and English.
Dr Cat Scott, UBoC’s Scientific Lead at the University of Leeds, is Director of LEAF. Dr Robin Hayward has worked as Communication & Engagement Officer for UBoC and LEAF producing website content, managing social media channels, and presenting to interest groups and schools.
LEAF’s website (leaf.leeds.ac.uk) maintains an active social media presence and is recognized as a source of expertise on woodlands and forests locally and nationally. UBoC/LEAF members and University of Leeds PhD students have taken part in several public events during the year, and in January 2025, LEAF established the “LEAF Day” scientific conference.
## UBoC Projects:
UBoC maintains active engagement with councils and other stakeholders, including ongoing collaboration with White Rose Forest (WRF) and Leeds City Council (LCC) where UBoC provides research and insights to inform carbon strategy development, tree planting initiatives and urban planning. UBoC’s research on tree replacement rates was first intended for inclusion in LCC’s Local Plan Update. However, the goals and policies that were to be included in the LPU, such as the tree replacement methodology, will now be part of the ongoing development of the Leeds Local Plan 2040 - a larger, ongoing plan that is currently in its initial stages.
UBoC continues its support for the 'Restoring Hardknott Forest' project in Cumbria which is an initiative within the broader Upper Duddon Landscape Recovery Project. This project is a partnership between Forestry England, the John Muir Trust and the University of Leeds, with contributions from UBoC, students and volunteers. Its objective is to restore one of the Lake District National Park's largest conifer plantations to native woodland for the benefit of people, nature and the climate. This will be achieved through a combination of practical conservation, informed by scientific research and monitoring, with the aim of creating and restoring 630 hectares of native woodland and wildlife-rich habitats.
Additionally, UBoC is a founding partner of the Wild Ingleborough initiative, collaborating with Natural England, Yorkshire Wildlife Trust, University of Leeds, Woodland Trust, and WWF to restore habitats within the Yorkshire Dales National Park.
UBoC also partners with the Woodland Trust and University of Leeds to facilitate ongoing research and ecological monitoring at Snaizeholme, North Yorkshire.
_2_
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
In collaboration with the University of Leeds and White Rose Forest, UBoC helped establish Gair Wood, a 36-hectare woodland on former farmland in North Leeds for research, teaching and volunteering. Planted in 2023, Gair Wood will increase biodiversity and serves as a Living Laboratory to study the real-time impacts of tree planting as a nature-based solution to climate change. This year the team has focused on developing research, teaching programs and building partnerships.
## UBoC Research:
UBoC-affiliated PhD students and research staff at the University of Leeds have presented at numerous conferences and professional meetings, such as the British Ecological Society, Pint of Science festival, Eureka! The National Children’s Museum, PANORAMA DTP conference, Communicate Nature conference, "Harvesting Balance" at Huddersfield University and various internal seminars.
## Postgraduate research programmes **:**
UBoC has funded in part and/or provided supervision during the year ended 31 March 2025 for several PhD students at the University of Leeds.
## Research impact:
The UBoC team has produced blogs and videos for the UBoC/LEAF websites and social media posts during the year and has also developed articles intended for publication in peer-reviewed journals.
## Going Concern:
UBoC’s policy is to have sufficient funds to enable the Trustees to disband UBoC at any time while meeting all existing contractual arrangements and to support any funded PhD students until completion of their 3.5 year funded PhD programme.
Trustees review the balance sheet regularly and will reduce core costs as required to uphold this policy.
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
Approved and signed on its behalf by Jonathan Wild (Chair), Piers Forster, Jennifer Harrison and Sheila Huntridge.
|Signature|Print Name|Date of approval|
|---|---|---|
||Jonathan Wild|6 November 2025|
||Piers Forster|6 November 2025|
||Jennifer Harrison|6 November 2025|
||Sheila Huntridge|6 November 2025|
1 Parliament Street, Harrogate, North Yorkshire HG1 2QU
Date: 6 November 2025
_4_
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
|||||
|---|---|---|---|
|Income and Expenditure for the year ended 31 March 2025||||
|||**FY 25 Total**|**FY 24 Total**|
|||**£**|**£**|
|**Income from:**||||
|**Income from donations:**||||
|Donations to the company||750|750|
|Restricted funds,donations toprojects||286,412|139,096|
|HMRC Gift Aid||~~-~~|~~-~~|
|**Charitable activities:**||||
|Carbon credits sale(restricted)||~~-~~|~~-~~|
|**Other Income:**||||
|Savings bank account interest||1,510|1,202|
|||||
|**Total income**||**288,672**|**141,048**|
|||||
|**Expenditure on:**||||
|**Raising funds:**||||
|Fundraisingand marketing||~~-~~|~~-~~|
|**Charitable activities:**||||
|Project expenditure||~~-~~|1,292|
|Hardknott Project expenditure||2,570|20,006|
|Gift Agreement – University of Leeds &
Yorkshire Wildlife Trust||322,138|76,022|
|Carbon credit costs||~~-~~|427|
|PhD studentships and stipends||790|3,298|
|Consultancy+ training||632|482|
|**Other expenditure:**||||
|Bank charges||~~-~~|48|
|**Total expenditure**||**326,130**|**101,575**|
|||||
|**Net income/(expenditure) before other**
**recognisedgains/(losses)**||||
|Net movement in funds||**(37,458)**|**39,473**|
|Total funds brought forward||**157,785**|**118,312**|
|Total funds carried forward||**120,327**|**157,785**|
|||||
_5_
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
||||
|---|---|---|
|Cash Flow for theyear ended 31 March 2025|||
||**FY25**|**FY24**|
|**Operating Activities**|**£**|**£**|
|Cash received from donations
Other cash received
Cash paid to projects and core costs
Cash flow from operatingactivities|287,162
1,510
(326,130)
(37,458)|139,846
1,202
(101,575)
39,473|
|Total Net Cash Flow|(37,458)|39,473|
|Balance sheet as at 31|March 2025||
|---|---|---|
||**FY25**|**FY24**|
||**£**|**£**|
|**Non-Current Assets**|||
|Investments|1|1|
||1|1|
|**Current Assets**|||
|Cash at bank and in hand|120,327|157,785|
|Debtors||~~-~~|
|**Current Liabilities**|||
|Investment liability|(1)|(1)|
||||
|**Total assets less current liabilities**|120,326|157,784|
|**Net assets**|120,327|157,785|
|**Members’ Capital**|||
|Retained Earnings: profit and loss
account|120,327|157,785|
Audit Exemption and Accounting Policy Statement
For the year ending 31 March 2025, 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.
_6_
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.
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2025 and signed on its behalf by Jonathan Wild (Chair), Piers Forster, Jennifer Harrison and Sheila Huntridge.
|Signature|Print Name|Date of approval|
|---|---|---|
||Jonathan Wild|6 November 2025|
||Piers Forster|6 November 2025|
||Jennifer Harrison|6 November 2025|
||Sheila Huntridge|6 November 2025|
_7_
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Notes to the accounts as at 31 March 2025
## 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 the Charity Commission guidance for a charity that is a company and annually with a gross income of over £250,000 but not exceeding £1 million.
## 2. 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.
_8_
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|
|---|---|---|---|---|---|
|||286,412|-|286,412|139,846|
||750||-|750||
||||-||-|
||||||-|
||||-||-|
||1,510||-|
1,510|1,202|
||2,260|286,412|-|
288,672|141,048|
|||||||
||||-||-|
||1,422|324,708|-|326,130|101,527|
||||-||-|
||-||-|
-|
48|
||1,422|324,708|-|
326,130|101,575|
||838|(38,296)|-|(37,458)|39,473|
||||-||-|
||838|(38,296)|-|(37,458)|39,473|
||||-||-|
||||-||-|
|||||||
||||-||-|
||||-||-|
||838|(38,296)|-|(37,458)|39,473|
|||||||
||157,785||-|
157,785|118,312|
||158,623|(38,296)|-|120,327|157,785|
_9_
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 new Gift Agreement was agreed in 2024 to provide funding for a further five years from 1 July 2025 to 30 June 2029. The funds will support the University of Leeds in advancing largescale forest restoration in Yorkshire, the UK, and globally through research, outreach, and stakeholder engagement.
The UBoC Scientific Research Team at Leeds will use the funding to launch the _Alliance for Northern Nature_ , uniting organisations to drive and monitor nature recovery and climate action across the UK. The funding will also support broader initiatives at the Leeds Ecosystem, Atmosphere and Forest (LEAF) centre.
## 5. Significant Expenses
In July 2024 £280,137 was paid to the University of Leeds as part of the initial payment under the new five-year Gift Agreement, as detailed in note 4 above.
In addition, £42,000 was paid to the Yorkshire Wildlife Trust to support purchase of land in Wharfedale.
## 6. Commitments
UBoC made a payment of £280,417 on 1 July 2025. A further payment of £280,418 is scheduled to be made on 1 July 2026 as part of the Gift Agreement with the University of Leeds referenced in note 4 above.
## 7. 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.
_10_
United Bank of Carbon. Company Registration No: 06924700 Charity Registration No: 1133285
Independent examiner's report on the
accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
members of
Chanly Natre
UNITED BANK OF CARBON
On accounts for the year
ended
31 MARCH 2025
Charity no
(if any)
1133285
Set out on pages
1-10
lie.tbe[ lo IflC,Uve Ine paga nunoer5 or eddiiionai $41èeiJl
I report to the trustees on my examination of the accounts of the above
charity {Yhe Trusr) for the year ended DD I MIA I YYYY.
Responsibilities and
basis of report
As the charity's trustees. you are responsible for the preparation of the
accounts in accordan with the requirements of the Charities Act 2011
('the Act").
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed all the aptjicable Directions given by the Charity CDmmis5ion
under section 14515)(b) of the Act.
Independent The charity's gross income exceeded £250,000 and l am qualified to
examiner's statement undertake the examinab.on by being a qualified member ofThe ACCA.
I have completed my examination. I confirm that no material matters have
come to my attention in connection wth the examination which gives me
cause to believe that in. any material respect..
the accounting records were not kept in a¢cordance wth section 130
of the Charities Act.. or
the accounts did not accord wtth the accounting records; or
the accounts did not comply wrth the applicable requirements
conceming the form and content of accounts set out in the Charities
{Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a Irue and fair. view which is not a matter
considered as part ol an independent examination.
I have no concerns and have come across no other matters in connection
with the examinab'on to which attention should be drawn in this report in
order to enable a proper understsnding of the accounts to be reached.
Signed:
Date:
Name:
¢-4
Relevant professional
qualilicationls) or body
Ilf any):
Member of the ACCA and CTA
IER
Oct 2018
Address:
Section B
Disclosure
Only complete if the examiner needs to highlight material maller5 of concern
{see CC32, Independent examination of tharity accounts.. directions and
guidance for examiners).
Give here brief details of
any items that the
examinerwishes to
disclose.
IER
Oct 2018