REcisfERED COMPANY NUMBER.. 06909767 IEDgland and Wales REGisfERED CIIARITY NIJMBER: 1133S36 Report ofthe Trttsttts Ind StakmtDts for th¢ Ye4r Ended 315t Derember 2023 Cre¢Dpow¢r Eduution Trnst Sheen Sticklar Chart¢Ted Acwjnthnts Staluiory Audilo 7 Pallant ChiehL8ieT W¢51 sU￿X P019 ITR Creenpower Eduution Trusl Contents of the fiDanfial Statemtnts fDr tht Yexr EAdeil 31st Dteember 2023 PaEe ChgirJDgn's Report Reptsrt of the I'rusttts Report of (he IndependentAuditorB 10 w 12 Stat¢Jn¢n¢ of Artivilirs 13 BalAnee Shttt Cash Flow StAtement 15 Nott5 to tb¢ Cash Flow Statement 16 Notes to the FillAnei*l Stxteme#ts 17 to 27 G￿ethpOwer Edu¢*tion Trnst ChAinn¥w's Report for the Yexr Ended 31st Dtttmber 21n3 Througknut the p￿t year. Greenp)wer has maintaincd its ￿t￿2vering d￿j￿10n ￿ inspiring and emp)werin8 IFR J￿¢ gtn¢r4tion of engin¢er& scientists and leadu5 ￿lS¢d lo shaFe a more su5twnable fuiLwe. OUT collaborative efforts with dcvoted tdu(•tor5. cnthusia5ti¢ voluntcer5 And driveo St￿￿ts havc yicldcd anothcrytarof suc¢¢55ful outCtsTno%. We Iwv¢ continued 10 ¢xparKi our events calendar, DJnn%n8 a iotsl of 27 eV<￿ts wilh over 70(K) #udcnts ihroughoui Greai Britoin. At a time nf national 5k¢115 5hDrtag¢ within the ¢ngineuin8 sector. we have used our pioneering model to demon8trat¢ the tK)wer tsf hands-on le8rning to ignite turiosity. nunurc creativity. aTrJ (x]Iiivate practical skilLs. Through OUT innovative progrthns arKI initiativ￿ we are eommined io fostering a dynamic leaming env￿Ont￿enl where students can explor the caplivating realm of STEM (Science. TechrK)logy. Engineerin& atNJ Maihunalic51 arKI unk)ck their full p)l¢ntial. RAtt Evtnts #nd Thc fedlpck we rereivcd from our 2023 sea%m f￿￿1m)ed the prof0￿￿ Si￿lfIcan￿% of our Organisaiion to all pariicipiints involval. After a oTruple of difficult ye¥s, it w&s r¢alTITmed kn us (hat our initiatives are highly valued, as there was a noiable and widespread for exp2ndtsl evenl offerings spanning a bjoader range of geographity locations. Participarns eX￿$S¢d a keen Inte￿51 in having grt8lL¥ aeetssibility 10 our events, hiEhliEhiing ihe impottsncc of Tuehing diver%e u)mmurtitiL% and pmvidsng opw)rtwiilic5 for rnofe individuals to ￿gage with our progTUTnme5. This feedback underscored the ¥iLqI role thai our organisatiM plays fft fo$￿7ng inieiwi ONI W1]¢1p￿lOft in sfEM du¢ation and suslainable wactitts on a bro￿ler sc81 Taking this fealb#tk on we expanded our offving to twm-scvffl 1271 events £xmsisttng of thirteen 1131 F241F24+ and ihirteen {131 Goblin events. and ort11) uifflbitYd F241F24+lG(Iblin ev¢nL This inc1￿[¢d il ￿lUT￿ to the Tenowned F'ord Dunton [￿l11ty. Ford had a Meadf￿1 surv)rtcr of GrctmrA)wu for numero￿ years, making our T¢tUTll to their IJK a ￿rtIcUlarlY Tewarding exF¢ria￿ This oprx)rtunity Th>1 only allow￿ us Io Tttonnect with longstanding supporters also provided parti¢iWts with a first-h￿￿1 glimrfje itrto an engineering hub. further enrithing their experience with us. In addition to our activitie5 on the ralttrack. G￿￿)wLy h&8 I￿£￿ aclively entgged in various impactful endeavours iryond the redm of rncin& One TK>tabl¢ event took place at tk HLvJses of PariiamLrt wh￿C wc thc homur of atiendin¥ a s¢%¥ion 5UPFX)rt¢d by Mr A[Ki￿V GTiifJth aThd His Grart Duke of RichmorK] CK>r(k)n. During this stssion, we had the op5x)rtt]nity to sIK>W(￿L txksitiv¢ itnpa(ts of Greenp)WeT to a diverse group of Members of ParliamenL Mitns tknviL% MP cxpressed enihu5i&sm. SL￿1n& "Ii w8S tKilli8nt to ￿ able to celelxate the woDderfi]l achieveTnents of the Greenwwer Educational Tru￿. l am (klighted ts) 5uprK)rt such a successful ￿ effeaive charity. at)d I look forward to 85SiSting with their exp￿￿10￿ across sclM)oL8 and groups in my ￿[￿ll￿enCy.. Erthuraged by swh posiliyc feedba¢k, wc are Dow working ¢lostty wi¢h severnl MPS to iuTn this vision into reality. This engagemeni at the highest levels of govemmeni ut)derscoJrs the wi(kspread r￿￿)gnitiOn and 5UPtKirt for (ireenwwerfs mission to i[￿pire and ￿Ucate the nexi Ecncraiion of STEM laet& ThtDu8h collaboration with policymaker5 and influerKer& we are ￿tively &JvarKing our efforts io ex[￿1 our reath IMp￿t within schools and ¢ornTnunitie5 ￿TO&s the country. Additionally. GTeenFX)Wtt ￿C￿Ved (he prrstigiou5 knwur of trKing ￿MInat￿j a5 the Charity Partner foT the esteemed H)dwood Festival of s￿ed 2023. This r¢¢wition Irld particular Signifi￿nCe for ￿ as we ent￿rd our 25th ycar of Ope￿[10n9. marking a significant milesthoe in joumey. Returning kn our Origi￿ 10 ¢haInp￿ll OUT cause filled us with a profound sense of pride and wrrKhse. The eV￿t Proved to k n￿h1Th8 thrt of sFa&ular. txoviding wilh a plarfoThn to rc(x)Trn￿I with rnany past plln$cipan￿ ￿rents. and te*thets who have b￿n inwdl io thur S￿ ov¢r tlt yeats. Thc Op￿rtUnity lo rcunile wid Share in the eXCitem￿t of Greenrx)werfs mi&sion fiwthu strengthth￿] twlyets) m8kinE &p)silive imp¢L I'ollowing the event. we have forged close rArth¢tships with severdl i￿Al¥1d￿8ls and Organi￿lon1 c4cr 10 lend their supwjrt to Cirecnwwerfs endravour& This collatrf>Mion pre5cnts a uniquc oprx)ttsnity for ug io expmd our and further our tnission of inSPiTing and eTn]x)w¢ring Ihe T￿XI getLernion of STEM Ickns. We 8rc dc4)Iy Erateful for thi$ rare upwrlunity ar¥J rejnain lev¢raging il ￿ [ffo￿l Green￿Wer forward into a futJJtE fJll&l with even rtater pos5ibiliti¢& Creenpower Fdvcation Trust Chalrman's Re￿rt for the Year Ended J15t Detembtr 2023 Greenpower F*mlly Over th¢ last year, OUT orwisation h85 UtKkYw several chgnge& bidding farewdl to individuals who love been instswmenial in our journey for m8ny years. I wou]d like to take thi* opw>flunily io express my h&)rtfeli BT81iitsde io e43ch and ¢vwy one of th&n. With ch8ngt ￿MeS new opportuniti&% we have welcomol ]*w metnl)ers into family. Most notably we welcome a new CEO. Bamab&8 Sheltourne. who joirLS us fri)m ￿ inntr-city London Charity. Barnabas h&s bN)ughi a wealih of fra%h ide8s that hHYe already made a wsitiyt imp￿1 on Ik org8misation. Now that we have navigat￿ through a ¢hall¢nging wuple ofycars 8T￿ are firmty b*k in oprTWN)n5. we are eagerly ILK>king forward to the future. Tha Thk yo* fJr¢cnpowu is first and forctn051 a charity. ability. lo otmte reliL% on the suptK)rt we Teirive frorn all area5. 1 want 10 expr¢ss my deepest ￿ltUde ￿ JI our p*rt1¢)p￿ts. dedicatd ltsieTS, wionat volunteer* devot￿1 5UPPOlteYs, and generou5 5wnsor& who eollttiiv¢ly make up Ihe inLrtdible GreenkN)wer community. li is an honour 10 be surroundui by such an ¢xcept¢onal group of individtsals BeT￿[OUSlY devthe I￿1r lime, a)er8y, and unwavuin8 $Up￿jrt to ¢rcat¢ rnc8ningful opFx)rttknttiL% ftsr()ur ¢5￿Cla11Y during the5c clwllenging titne& As wc ccmiirÈuc lo move forwwd. our commitsneni 10 in4)irinB educating youn8 mind& Is well &8 cfL8uring the 5u%lainability and aCC￿81b11lty of our Initiativ￿ Tunalns unwavering. Your coniinued suprK)n is truly invaluable. and wilh your ongoing ddiLaiiott l am (x)nfid¢ni that Gr¢¢npJwer will comsnue to Tngke 5ignif*ant progress toward ll brighter and more sUSi￿r￿b1e fuiure. Th8nkyoll for beingan e¥Senti￿ ofthis jwtney. DrN*5h Vra Cknir of the Board of Trustre5 Page2 Creenpower Education Trn$t Rtport of the TTh5tee5 ror tbt Year Exded 31st Dtttmbtr 2011 1he Iru51ces who are a]so diredor5 of the charily for wrw)5e5 of the ComrAnie5 Ala 20(hS. PTts¢nt their repon with thc financid staiements of tht charity for the yeaT tndcd 3 1st IkrcfflbET 2023. th]51cc5 have thPt￿ Ihc pry)vision5 of Acwunting and Reporting by Charities.. Sratemeni of Reu)mmeThl¢xl Pr￿j¢C applicablc to charities prCr￿ring their aLcounts in &WT(laDGe with ihe FIr￿nCl￿ Rq￿rting Standard app1K￿le in UK and Republic of Ireland IFRS 102) lelYe¢iivc l January 20191. OWECTIVES AND AcfiviTtES ObjectNes aims I'he primary objective of Gre￿[1)W¥ 15 to iT￿pire yOLtng p￿pIC to exeel in scienK technology, engin￿n2 and mathematics thn)ugh a urtique ¢h8llcnge: to dL%igt4 build and rdcc an elr£tTiC w. lo achieve thi5. the tharity develops car kits. parts and the technira] re8ulwions for events it •)ablinE pwti¢iPgnts io experien(x compeiing 4ThJ Y)blem solving in ieamh. Three ¢Ol¢goric5 of Co￿￿tItion arc held for teams from ￿] l ye4rs old (Formula &>blinl. I1- 16 ye￿% old (Forniula 241 d 16-25 years old (Formula 24+1. Th¢ adiviti&s of the charity ewKompass all ￿Fects of organisingik ¢￿k￿g￿. Updatingieehni¢￿l reEulaiioN8 io en%ure his￿1 safay styt¥tsrds fair e(xnwiiioo. Markeiing Ihe challenge 10 a wi(k audiencc. Supplying car kits for new tcatn5 spare part5 toexi5tingt￿￿ Providing supwrt for new, existing and prO$￿1ve Te4Tll5 IhTough av&riety of roule5Lg. weE6iie5. rnanuaLs, ceniers Ot'excelle￿tt. aME￿$sa￿l Organising and running rdee evenl& En5UTing 5U5tainability and value fOrT[￿[￿Y for lams through xquisiiion a￿1 rctenlion of 0)rp)￿e sp)￿orS. Thi5 report looks Ai what the charity h&% achieved and tl¢ vutcotnES of its work in the T¢￿￿nIng perio￿ The In￿e¢S Teport the succ￿% of ekKh activity a￿j the ￿￿er)IS the chariiy ha% b￿gh1 io Ih)se gmups of Fopl< ihat it IS Sct up to help. In advancing ihe tharit￿$ objective& the tru#ees have due Tegard to the guidarKe on wblic benefit published by the Charity Commission. and klieve thai the xtivit￿S ofihe charity b￿rriE the public in the field of ￿￿)0￿. rRATEGIC REPORT Achievement and ptrformance Charitable Activities In me&8iiring Wheth￿ Grc¢ntM)wcr 15 meeting its charitable obieaiv4 GreenJM)wtt IcM)k$ 8t outyuts outcotncs as well as 5Fttific project related mile5tow* Kcy outputs Xe ovtrail pgrticiptioth. numbofevthts exccut&J arKI diversity. The 2023 season $8w a further gmwth of GrtnpDWff. following the 2022 S￿On. with 27 racc cvcnts across the country, the ye•r saw gregtrr reath ofevents Ènd MOTY 8(Xt&%ibility for The lots15Jumkr of cws racing in 2023 502 which was grtst io see with the P￿￿8mme coniinuinglo gTVW sirK¢ the pandemic. 2023 c.obli 242 Total 502 NuMb￿0f Uniq￿ ieThs ￿l￿g 216 The carocity lo d¢liver the growing ex[Ar￿10￿ of events h&8 a c*Jallenge. howcver thE team rose to it aThl managed to mcct expcctation5. Thc total numb￿ of teams racing is still 32Vo lower than 2019 whtrt th¢ iothl numbtr rtachtd 739. However, organi5arion continued io make a go￿] level of progress in 2023. Outcomes: Grttnp)wcr I￿aVilY relia% on 5upwn of lh¢ ifams and ihcir lead￿ io help with gdthering impa(x information and ther¢foTe aim5 to improve regular engaguneni with ieams ￿ s8ess woBratntnc is havinK an imyact on young tKople'5 live& ￿ their wi(kr Orgdni￿tI0n. Wc we aiming for devek)p our enwd8•nent for 2024 Ihrvugh Tnore frequent SUTVey& sh*ing of infoTtnation. urthr& mL￿1r Page 3 Greenpower Education Trust Report of theTrnstees for the YeAr Ended 31st Decembtr2023 srRATEGIC REPORT Achievement perlorniance C'#*e Study.. Sylvigt Beauftby Centre of kseellen¢e How do Sylvia I1￿UfOY view thc (Jreenwwer rffogT8mme aLMI whai does it play alongsidt thr Oth￿ youth progrnmmes (hat you deliver? Thc sylvia Lleaulny (.'¢nlTe is a youth club thai is completely sclf-fundcd by and (kinations. The charity doe5 r￿t re£eive any furkling from &)vernrDent to suptx>rt its Work. Wc ￿11¢¥¢ that pmviding a 8nd safe srAl* for young people ro safely explore life is ¢s3¢PtiJ ty their transition through their adolescaKe. We also believe thai the Syliva Ileaufoy Centre tElongs lo th¢ young rMple and we havc kn J*oYsde Wh￿ thty waThi and need. In 2014 we had a 5niall gmup of young pwplc that were Noi ill Lducation. l.-.mpk)ymeni ￿ Trdining (Nl-'l--l) Ihty had a kcen intcrest in mechanics $0 we showed them what they thuld do with Gr￿[￿>wer. arml our 5torcy sthrts Gre￿]x>￿eT is one of lh¢ many projecis we delivty from the Sylvia Beaufoy C¢niT¢ we use it a5 a tIK)l ts) etJgag& develop and inspire our young pcopl¢ to b¢rome the EKst ver5iOn5 of Ihemselves. Many ￿ GTeenp)wti &% thr skill section foT the [￿k¢ or Edinburgh's &ward that wc a150 delsver. Whcn did you siart Greenrrf)w¢r and many young wyte lths il engagd sirKr you Tunning it. How has it hclpcd thern over the years and what is the ge￿je1 splii of ihc yO￿g FKoplc tsking part. Whai was the size of the ogramme whffi you first stsrted in comparison to rx>w. how h&% it dw)gcd aNI Impn)ve￿. We started our Green￿>Wer siory in 2014 wilh J￿81 I kil Cat 8 young wple with a 4)lit of 7 ￿y5 1 girl. In year 4. WL add a 2nd kit car and a fvrthcr 8 young rKoplc wlih a splii of 13 Ix)ys 8tNI 3 8IrtL In 2019, we slarted designing our tirsi sct&tch I￿711 QT. Due 10 CoYi(L we did Dot gth to'r￿ this uniil bxk cnd of 2020. In 2021 we had a full ieam of 18 youttg wple and 3 ￿[8. The splii wa8 16 b)ys 2 girls. In 2023 we continued to race the 2 kits and I scratch i]d. but Incre￿ the team size lo 24 young r*ople. We a150 cnlued more ￿ce$. The $plil in 2023 Saw an increase of girls to 6 gir15 8fKi thc intCT ttwn rivalry ￿art￿r As we s¢art 2024. wc arc rclir5ng the newer of the 2 kil car5 aiid racing Ihe older one #s we believe this is one tsf the highe51 rnileage kii cars currcrnly ￿in& We alw bllilding 2 new scraich build cars to bring our cars to 4. We have ￿50 the team size kn 29 young wple with 6 girls. As wdl as Increasing numkr of young Jxople taking parL we have a]so jTw￿ged to attract new voluntrers thai come with a wide range of expertise arKi enihu5ia5m. This h&$ enabled u$ to TnaSSiV¢]y incrrasf thc qU￿1t}. of the programme Ihat we deliY¢r to the young pa)pl¢ aTKI in turn iT￿rta￿e the q￿lty of leaming for yoll￿ people. We hope to bE racing our cars 6 times this Lx)ming Strdson. Do you have a gi)(Ki story &FA)￿ Gttttwwtrhas iTnWcd ir¥JivithTal OTgroup. We have had wm¢ fanT￿lC 0￿(x)m¢S over the years. Fjun the $t*K stting th¢ 8 NEET young Tmple get back into tdu&ition and taking their new skilLs forwards inio wjuli lif& Ort of Ihc5c LK>y5 tK>W Jtsiores I￿￿tiOn engines for a livin& More re(tntly. we helpl irtspiTe a Ix)y to st￿Y bioenginaY¢ng at a top UK univttsily. Wc also %upw>rtcd a young person thai was on the 'ctherin8 team. in wjring an apprenlire5hip ai GO(Xh￿ E51atc. Currcntly we are supw>rting a year I I girl in exploring herOp1K￿ in teLM)ming an ¢nginwof X>Tlle kind.... watch this s￿Ce. What are your s(rdtegie ￿0veral1 aims forthe ncw few yeo. We are re￿lY keen ￿ k¢EP i￿lIding0￿ OUT SUC(Y55. ￿ only on the rracL in (Mjr weekly se&%iorts. We want to ]nake sure that the enga8¢ment ofthe young p3)ple is ai its highe￿ levcl aThl io do t1￿$ we have ￿ keep tnoving fiirward and kecp rclcvanl. Wc al%0 rt¢*d to build ex5MThlour of supw>rter5. rKTri only for finanoal inwl but ￿s0 opwtrrtunitic$ for tr*ps and poieniia] employment forouryow pwplc. we have a fijnding target of £15.tXM) to be 8bl¢ to (kliver Greenrmhwer al0￿. In addition. we aim io FAJild a punx)se build workslK>P as we art currently building OUT cars in store room, w)siairs. havingio cany the cars up the This will enable usto Safely work on c￿S in a more interdciive way. 14ow will you reach your aim5. Page 4 Greenpower Educati￿￿ TTUSt Report ofthÈTrnstees for the F.nded 3151 Dttember 2023 STRA"rb:GIC REPOIiI' Achievement performAntt We hav¢ an u¢1ive tewn of am￿s5￿T5 aTe cominu0￿]Y ￿v¢￿tIng for ￿ linking ￿ in W51h org￿1$￿tionS that we would likr 10 ￿ a part of whai we aTe doi￿ We have prid¢ and ro85ion in whai we do. we trh)rrt rthple cakh this und w*1 to be a of ihi& Fill*rttilll revi¢w FiM*ttcial posithn Toièl ineomt for tht y¢ar 31 L)ccemkr 2023 w&% £1 J79.568. an ir￿￿8¢ of £316,884 LXKnpTcd to 2022. This mainly ￿USed by an increase in kil sts have risen. kit sales remained eonsisiem. We beEan reviewing our supply chain and improvinE OUT P]DCe55es so th￿ we (3n bel*r predict and r￿[￿nd 10 5&1es requests. We WTII continiie to retine our procLSSCS aTh1 review our suN)litts $0 w¢ (an ￿Ure we dcliv¢r the t¢st wssible servic¢ nd $uptx)rt to the GrethTXkWCT lldwork Income During 2023. car salcs w¢x slcady we had a gcM)d hlarKe of In￿all0￿￿ ¢kne5tic orders resulting in 319 total kitS' 501d. (".orporal¢ sJx)n8orship support was limited, htswevcr we art Yery thwthful lo our extremely generous ETOUP of suppon¢r8 for their commitmcnt io enablin8 yo￿5]E pcoplc io (ake p)rt in GTtcnFN)wcr. Toward% thc end of 2023 we E¢gan 10 apply for grants which will wovide furtlKr help with surv>rtingOurr8￿ he8[ costs for2024. We were txtTtrncly fortutBtr tts It s¢lcdul a5 thc CKw)dwood Feslival ol Sr*ed charity of thc ycar, whith provided sig]iflo￿t sllpp)rt for the charity. L(Kkking aherf Gr￿￿Wer will revisii its fu[￿Ing m￿] io stcutt rexAJrtts to fvrOTW5ing for OUT events, education, cornrnunity devclopmeth. at¥J broathy Organi￿lo￿al 8mWth. Internal fRparity and proc¢w$ Diiring 2023 ive ex￿[5¢need changts within the [D￿nt we wc¥e ￿>m¢what le4n during the middle 2nd end or thc sea50n. Whilst this was managethle for thc sknrt Le￿￿, in 2024 the pkn is to invest in e8s¢niial siaflin£ nttds so thai we caa grow. dcvcjo￿ and mcct our objcciivc* thrring 2023 thc tcam had 9 teaTll In 2024 this will increase slightly 50 that we are able to fulfil the ￿entIal tked8 ofthe chatity. We would eveDtually like to recruii ieam mernbc io support wilh fundrwsin& developtnenl of inl¢rnational rArtne¥ships. a￿1 L%)mmunic￿0￿ Alongsiik t￿ t¢Htn, d I rustees, wc arc cxltttntly ihankful for our AtThbasswJQ￿ and volunietrs whD enable GrttnpDwEr lo extend its Teach d Provide vithi sllpport io thc le￿m$ ￿)d evth TOW￿￿5 the end of 2023 we re¥i¢wing our Jxocgsses. in Parfiwlar. with rwrd5 lo our s8]es and ordering. We will be implementing new proce&8es and sy￿emS durin8 2024 to enable Gww)wer lo provide an improved experience for everyonc wlKb wr¢h￿ itcms and scrvic Future plAll5 (h]r priorilies for 2024 rernain similar lo 2023= Tts d¢vclop our ra¢c heals and evcllts. Develop our tommination to help impTOVe ourengagemcni ￿ SUnM)rt lorie&ms. Develop our fundrnising progrdtnrne to Enable the evfflts al￿ organisaiion io d¢veJop. To develop our international work so that Gre￿￿>Wer is able 10 rs*h even mojt young wple. lo d¢vtlop our cducational rwuTCCS SO that Sch￿15 and youth clutrts able ￿ ￿liCT ￿te8T* JReenwJwtT programm¢ ¢hciT syllabu5. Page 6 Greenpower Edut#tron Tryst Report of the Trustees for the Year E4Jd¢d 315t December 2023 STRucfuR& COVERNANCE AND MANACEMENr Governing doc*rnent Thc charity 1$ govtmtd by its Memor8ndum and Artsc1¢5 of A5W¢￿tIOn dafrd May 2(KP). &% amended 4 Decemt*r 20[ a5 amended by 4￿cIal rwlfftior4s) 11a1￿ 3 Juty 2016. Rccruitrnent and ¥ppointment of trnstees Trusiets arc ￿tivelY sought 10 add breadth of to the organ¥sai¢on. Pot￿1181 tsu5tets submit their CV8 and are invil&l io ￿lend a quarterly thjsiee meaing I[￿ d¢*ide tlw would like to a(￿ept IIK rol& election will Ft put 10 8 vote of the ¢xisting trusiee5. If electrd all rKw inJ51ees are reqtsir*l NCVO t[￿siee ti8ininE. In accord8ncc with ihc goveming (h)cument for the ch8rity. It th ￿nTr￿1 gcncral rntttin& Or￿ third of the tsvstees lor. if th¢ir number 15 not th￿¢ or a mulliple of three. the nllmtK¥ neatesi io thte¢l. must tWirt from offi¢¢ If there is only ont trustee, he or sh¢ mu51 reii]r. The trustees ￿ cknose to rctirc ￿ the AGM. OtlMThi* tlrTe is a fixed Iffln of three 13) ycars for all trustea8. Aft said fixed t¢Thi. ¢h¢ ]nust T￿1￿ a[￿Or Ten is subject to e￿n￿l r¢-el￿tiOn at the AGM by and willingness ofthe trtdividual io (x)nlinu OrgAlli*#tionxl strurtyre The Board ofTrusie£s has a reswnsibility to diliguK¢ of the Green￿w￿ OT￿lsaIloTh in line with thai sct out by Companies House and the Chariiie5 Commi&8iotL Thc Tru8iett delegate the day-to-dty Tll8ll8gctncn¢ of CJTe¢rwwL¥ FthJL*ion Trust lo Ihe Chief l.."xccuiivc Offitcr. who 15 IrsPO￿8lbIe tor the developmeni of the Tw$L in ￿)rd￿ with the Strne￿. tx>licy arK] decisions of ihc Board or Truste￿. The CEO is 8uppYted by a senior maI￿ge￿￿t tea¥n within thc fiJndion5 of ormtior4 evenL% finanffj and (kvelormenL All "frustecs give their tiffle voliintarity and receive twxfils from ihc charity. If r¢4uire(L re￿nable CXPEnse5 arc p&yabl¢ in line with the Greentxbwer Edwtion Tr￿ stsndard eXp￿￿S wlicy. Key mAn#gtmtttt remutterntio salarics for siafF arc sei by thc Chief Lxccutive in linr with b￿Jget and agreed by the Eoard ol. (n￿le¢s. Thc Chicr Exe£utivds salary is sei by ihc c￿￿•r vI￿- Cbir. agreoj by the of tn￿1￿ bcfore t￿lA8 implemented. Related parties None ot'the tru51e¢s receive rfmuneration OT ￿h¢T trKnefil fmm tkirwork with th¢ dwity. Any Lon￿￿tIon bdwttn a In￿¢¢ or s￿l0r manager of ￿ charity with any %uppiiv to charity must be di5ck>5d to the full iN)drd of tW5t¢¢s in thesJtn¢ way as any Otherconi￿ll￿ with AT¢la*￿ tmty. Ri$k m¥nag¢m¢nt The Trusicfs have a duty of due diligen(t IO iLkntify WMI ￿￿1¢W t￿ risks to whith the clmrity 1$ ¢xp)s¢d arKI to ¢TJsurt appropriate controls are in place io pmvide ¥&N)T￿b]e ￿U￿nLE fra￿ arK] e￿or. Risk managemeni is considered in every as￿¢1 ofour worL MaT￿]ng large events with significant numbers of visitors. y￿ng participants ar￿ volunteers LXTiL% inhLYcni risk and demo￿d5 atlcnlion and rcvicw. Thc risk Tegistcr and th¢ Lontrol 5y51etns lo tnpmagc the risk5 are reviewed regularly a¢ BoaTd T￿￿1￿&5. considering day io day and event risks ]ong with other major risk The Tru%te¢s arc sati5ficd that IheK arrdngements. combined with arn￿1 ￿¥1¢W of financial wntTols and the reserv￿ policy, will ensure that the OTganis&tion can coniintt io fllifil its dwritsbl¢ obj&%ive& Page 7 Greenpower Educxtion Trust Report of the Trustees ror the Year Endtd 31st December 2023 REFERENCE AND ADMINI￿RATIVE DETAIIS Reeisttred Compxny number 06909767 (England and Wal(%) Registered Charity number 1133536 Regtstered oifKe The Greenwkwer Centre Arundcl Road Foniwell ArutO¢1 Wcsi Susscx BN180SD Trnstee5 N % Vr&gs Chair A K Ahluwali F R A￿ri {resignLII 12.10.231 C S Baylls P B¢lcher Ire5i8ned 12.10.231 A D Browne (appointed 12.10.23) J Clark- [ap￿Inted 12.lQ.231 V Clarke J J Dyson lappJinted 12.10.23} M H211 Ir48ign¢d3J.231 L Horsfall 8 Morgan l.Tl.Ru%sell H Sherrard lapw)inted 1.12.231 E L Srnilh Iresigned 19.1.23) Avditor5 Sheen Stickland Charter¢d Ac(y)unian15 Staiulory Auditor5 7 Ea%t Pollant Chichester Wesl Susscx P019 ITK Key Management Personnel Mi¢hel¢ Augousii. Chief Executive Offjcet Ifwm (k-lokr2022 uniil 20231 Bdrnabas Shelbourne. ChiefExeculive o￿l¢tr Ifn)m Scpicrnb¢r 20231 Nicolleiie Tlaldwin. Direclor of Opualior6 (from April 2￿23) STATEMENT OF TRUSTEFS, RESPONSIBILrriFs 'lkne Ir￿¥teeS (who are at50 the direcior5 of Greenwwer Educati￿ Tn& for the [xJr￿%S of company law) wr resrx)nsible for WfParillB the Ann￿1 Ryrf and the tinar￿la] siaicments in a[tyd￿ with appliLxble law ar￿ Uniied Kingdom Attouniing St￿ards Illnitd Kingth>m &ncrdlly Acttpied Acawnlin8 Pr￿lice). Greenpower EAucation Trust Report of theTrnstees ror the Ytgr Ended 31st December 2023 STATEME￿[ OF TRusfEFS' RESPONSIBILITIES- roNtinued (".otnpany law requires the tru5tee5 10 prq)are financial stsiemcn15 li>r cach financial ycar which give a tsue and fair view of thc 8taie ()f affaits of th¢ ¢haTitablc cornw and of ihc ir￿0M1Thg rl¥￿Ir¢LZ and appliLali()n of Te$Ourt￿ including Ihe inc4)me and expendi(Urt of the ch8Titsble o>ynpny for that WKXL In twwing those fJnancia] statcmthis. the Irustees ar¢ required 10 selea suitable acti)untinE N)licic% and aFyly them corLSiMLYAIy- obseThe the meihots and principles in the Charity SORP: tnake judgemenis and e5timaL4 thai are reasonable al￿ Jthi: qi&ie whcihcr appli¢ablc accounting standards have Ix%n folJowt41 subiea th any matCr1￿ departures disclosed and explained in (he lJnancia] statements- ¢par¢ ihe fIn￿CIal sthiemenis on the goin8 COtKern basis Lmle5S it is itw*]Kowia* io presume it￿1 the charitable any will ￿ntinue in bu5in¢S The trustee8 are resrM)nsible for keeping &couDting r¢(x)rth which disckTrse with rea8onable ac£uracy at 8ny rime the r)n￿ClaI [￿sItIOn of the charithble comrvany and ts) enable them to ensure th¢ fitwtKial 5tat¢m¢nts comply with the C'.(>tnpanie5 Ath 2￿6. 'Ihq are also T¢SFonsible for safegutrding Ihr asscts of Ihc chait3ble company and hence for taking nx8onablc Meps for the ]xcvention 8nd del1￿1¢)￿ of fraud and other irregulariiie5. In 50 far as the trustees are awarE'. there is tMTr relevant audi( inf0m￿tion of whi¢h the tharitablr auditors ￿ unawdTe" the IrL￿e&S have taken all steps th& thev OUEhi to hllv¢ tsk¢￿ to mak¢ thEmselv£s awaT¢ of any relevant audii information and to establish (hat ihe auditor5 areawdre Orth￿ inf¢miatio AUDITORS The audiiors. Sheen Siiekland, will be )xOp￿d for re-appointsncllt at t￿ fort1K￿l￿g Annual Genera] Me&in RLPOrt of the tnLSt¢es. incorw>rntin direciors. on. a 5traicgic rerrf)TL apwovcd by otd¢r of Ix)ard of t￿￿tee5. as ihe wrnpany . and signed on the trf)ard's tr￿8]r by: 'rrLKSttt Page 9 li￿ort of the Indepelld¢nt Auditors to tht Membtts of G￿enpOWer EducAtiOll Trnst Opillkn W¢ have audited the financial Mar&nents of G￿[￿¥¢[ Edu¢ation Trusi (the '¢hariiabl¢ company'l for the year ended 31%t Decemirr 2023 which comprise ihe Stsiemt￿ of Financial Adivitic& the Balance SheeL Ihe Cash Flow Straternent and notts to the financTai statctncnl& including a summary of sign1r￿an1 ￿)unting policies. The financial rtw>rting framewotk ih2t h&8 ieen arfj)lied irt their pwar&K)n 15 applicable law and United King(hm Aecounting S18Th1ard$ IUnil¢d Kingdom Gcrmlly Accept￿1 Accouniing P￿ittl. In ouropinion the finAn¢i41 statEmcnlS'. give a true and f2tT view ofthe Stale ofthe ¢lwitsbl¢ COTntMny's affai￿ as at 31st December 2023 and of its inL7)min8 rtsource5 and appllcation of re50urcffj including its IrKume atld expendiliLrt. fur iheyearthen ended: have becn Prop￿lY prcpared in accordarKe with Ilniied Kingdom Gencrdlly Acc¢pied AccouniinB Pl￿1>¢t. and have been prep8reA in ￿T￿art¢¢ with the T￿ViT¢￿ents of the C(¥nrAni&s Act 200& BRsis for opinion We cthndutted OUT a￿1t in ac¢ordw*e with Inlemational Standards on A￿ltIng (UKI IISAS (UK)) aThl applieAble law. Our resrx)nsibiliiies undtr those StsTthr(ts a￿ fUrt￿r d￿nI￿d in ihe Auditors, re5wn5ibilities for ihc audit of ihc financial siatemenis section of OUT riJx)rt. We are inthtthkni Jwritsbl¥ foTllP￿Y in aCCord￿ce with the ethical rcquiremcnts (hat are relevant to our audit ot'ttrk fjnancial ￿tc￿lIents in the UK. including the FRC5 Ethical Standard, d we have fvlfilled our otlw dhicaj re5txinsibiliiics in accoTd8nL% With thtse requiremen￿ W¢ itli¢vc t10t the audit evidentt we have ObL2irt￿ is sutricieni atMI appwpriate to provi(k a basi5 forouT Otmnion. (..on¢1￿$]0￿S relating to going eoxttrn In auditing the financial stsiement& we havc Concl￿ tl* trustets. of the going ¢OTKErn basis of accounting in the preparntion of fitwicial Matetnents ts typrowiate a%ed on thc Work wc havc pcrfomied, we have idcntifitd ony tnatcrial un(zrtaintics relatin8 lo ev￿ts or conditions ilwt. individually OT a)Ilectivety. rnay 5ignific4nl doubi on the charitable u)mpany's ability to c￿linue a5 a going concern form ￿rIOd of ¥t l(wt twrlve Jnonths frr¥n when the fimjcial sts*ments are authorised for issu Our ra%￿nSibIlitieS and the resrM)nsibilities of with TfSFat lo going conc￿￿ 8re dtscrikd in Ih¢ rclevani se¢iions of this TetM)rL Other inforniation "Ihe iruslccs 8rc responsible for thc othu inf¢)rni&ion. othcr inforrEJatKbll wmprisfs the inforniation included in ihe Annual Rqx>rt. oiherthan the financial smemenis and our RqKMtofthe AuditOT5 thEreon. (hjr opinion on the fi￿[￿l¥l statements doe5 rni eoycr rk infomi&ion ex(w t¢* the exlenl otherwise cxplicitly Stat￿ ID our rcp)rL wc wN)t cxprr55any forn of &ssur8nce cOr￿1￿$t0n thtsron. In connection wiih our audii ofihe linancia] stsiemeni& uur T¢5FX)n5ibility 15 lo rcad the oiher inf0m￿tiOn an(L in doing . ronsider whether the other inforniation is maietially intX>ll51Si￿t with the rjnancial statemenis OT our knowledge obtained in ihc audit or othcrwisc aFT￿r$ lo k materially misstalcd. If we identify such material incor]sislencies or gppwEnt M￿er]a1 Misstate[nen￿ we are required io dacrn)ir* whether this briV¢¥ risc io a Jnatuial mi55tatement in Ihc rlrtanci￿ Stat￿7¢￿￿ Ihem5elve5. If. tmscd on the work we have ptrfoJmed we ¢on¢lude that th￿¢ is a material missiatctncnt of this other infoTThation. we aTe rwuiTvJ kn rfport that fau. We have JN)thingto repY>rt in this regard. Opirtion$ on other Tnatter5 prescribul bythe Compamies Ati In our opinion. b&sed vn th¢ work UTKlertak¢n in cOU￿e0rthe a￿11. infurmation given in ihe Rew>rt of the Truslets for ihe fIna￿l￿ for which the fit]ancial ststments a prcpared is consist￿1 with the fjnancial siaicments. aJKI the Repon of Ihe Truste￿ h&% prcrori)S in ￿Cord•￿e with applicable lega] requirements. Page 10 Report of the Independtht Auditnrs th tht Membtrs of Greenpower Eiluc*tion Trust Matters which we Jre requind to report by excepliD In ihe light of thc knowlcdge and ￿r￿eTS￿ndi￿g of the charitable comsxny and its tnvimnmem obtsined in the tow of the audii. wc hav¢ nor id&)lificd materia] misstatemtnts in Rqxirr ofihe TrUstt￿. We havc ncthing (o in r¢W of the following matters wherc Comr*dni&s Aa 2(m￿ requires us io reF￿Tt to you if. in our opinion= uat¢ Kcounting Tecords hve rxTri been kept or ffjturt* OUT audit have ￿>t re￿IVed from branches rK)I visitd by ￿ QT tk fjnaneial siaitrncnts arc t]Dl in agreeTnent with thea(wunting re￿rdS and reiums: or certain disclosurc5 of tru51ecs' rcmunLYdiM>n s￿lf1￿{ by law are Th)t ma(k: or we have not received all the infoTmatK)ll and ￿planatIonS wer4uire forow a￿lL Respo￿$¥bIlit*S of tTUSttts As cxplaineAI more fully tn the Siatuni*t of Tru5teeg Rc5rx)nsibiliiie5. the trU￿teS (who aTC a150 thE directors of the ¢hdritJbl¢ cotnpany for the twse5 of (xxnrn$iNe for the preparatTron of thc fjnanciai Sta￿rnents and lor beirt8 satisried that give o and fair view. ￿ for s￿h lniern￿ contsDI 05 th¢ tru5te£s deteTmine 15 n￿ary to enable the prepardlion orrinancial statcrncnts t1￿ are free from matrrial MI￿a￿￿ent. W￿￿th￿rdUe Lo r￿ud OT wror. In rryaring th¢ financial 5tatcrn¢nt& the rnjsiees are reswrtsible for Hssessing the charitable company's ability to conlinue as a going ¢ortern, disclosin& as aFylicable, mwiers relaied (o going concem 8nd Usin￿ the going concern h&sis of accounting un1ts5 the tswstees eithtr ini¢tMI to I￿l￿Nja* ihe tharitsE4e company or to CC&%E OTrntions, or hav¢ no re￿15t1¥ altffnativ¢ bui to (h) so. ()ur responsibilities forthe #udit of the finantial statements Our objectives arc to olAain re4sonable #iKkur whc(h¢T Ihc financial sttiemcnts &8 a whDle are free frorn materiyl Jni551at¢ment. whether due io fraud or ¢yn)T. StKi to i&%u¢ & Rqx)rt of the IndL7*J)dcnt Auditots that includes our opinion. Reasotthble ossurance i5 a high level of&8SUfdnce. bul is JKrt a ¥uarantee an audit conthjcted in acLa)rd8n¢e with ISAS IUKI will always det￿1 a fnalffiaj rniss(aiemeffl whcn il exist& Missiaitfflent5 (an arise from fi?ud or error al￿ are eonsidcrcd Materi￿ if. individu8lly or in the agsrcgat4 iky could reasonably expeded to influence the economie d￿lSions0r￿s￿ taken on the Lwis of tlKse finarKial SthiLini The exi¢nt to which QLfT¥[K￿Ure5 are LwbL¢of tsecting irregul￿]lle> incI￿lIng fraLKI i5 ¢ktsiled below: enquiry of managemenL those with govem•K¢ arld ￿ ￿lity'S yJlicitOts 8Tound a￿d ry>tential litigation and claim5', cnquiry of ￿tIty'S stsffto identify any instances of T￿￿-￿)mplI9[￿e with knv5 and regul￿￿Tr reviewing minutes of Tnecting5 of those charged with goYemarK¢: reviewin2 fitwncial stWETn¢nt d)Klosur￿ Mting io SUWM)rtingthrumentatiop to a55ts5eompliancc with applicablc law3 and rEgulations- and auditing thc risk of managaneni overri& of(x)ntrols including through t￿ing joumal entries and other adjustments for appropriatLmess. aNI ¢valuatingthc ixjsiness NK&nak olsjgnificant outside the [Jor[n￿ wur8e of b￿1￿¢& A further descrip¢1￿ of our TC5Wn5ibililie5 for tk a￿j11 of thc financi315wtynwtS 15 ￿￿ted on ik Financid Rewrting Council's wd)8iie at wWw.fir.o￿uk]aUdi10Iw￿ibJ1iti￿ This (kscrrmion fornis part of ow RerM)rt of the Independent Audiio Rtport of tht Independtnt Audito￿ to tht MemberJ of C￿￿>wer Ed￿￿tion Trnst Use of our report This rqK)rt is madc solcly to the chariiablc comwy's tnetnbeo Lx>dy. in KCOTdantt wilh Chaoer 3 of Parf 16 of thc Companies Act 21Wk. Our audli work h&$ undert8ken w thai we might ￿al¢ lo the charitable company's tnembeTS thos¢ Tnattus we aT¢ EquireJ to Slate to them in an a￿47￿15. rew)n and foT ￿ other wrw)se. To the fullest exienl permitt¢(I by law. we do tK>i ￿rA or assum¢ ￿5￿)nSIbility 10 Iinyone other than the th8Titable company 8t￿ the o[npan￿5 as a Erfxly. forour audsl wodt, for this or for ik opinions we have foThed. Paul righr FCA DChA (Senior St*utory Auditor) f¢)r Jn(l on b¢huifof Shttn Stickland Chartcrt] ALCOUrtiartL% Siaiuiory Auditors 7 Ettst Palla￿l Chiihesl¢r Wesi Siisscx P019 ITR P88e 12 Greenpower EdueAtion TThst St*tEment of Financi￿1 Activilies for the Vtxr Erbdtd 31st Dettmber 2023 2023 Total funLts 2022 Tot41 nds lJnr¢5triaed Resmci￿l INCOMEAND ENDOWMETrftS bROM Donations atxl legacio8 240JI)6 11.463 251,769 169.160 ChAritsble activities Sales of (ws and parts 1.127.7 1.127.799 893.524 Tot*1 IJ68.105 1.463 .379.568 1.062.684 EXPENDITURE ON CharitAble #etivilies Sales of cars and parts l J48.089 30.818 1.378.907 1.037.504 NET INCOMFJIEXPENDITURE) 20.016 45.619 119J551 145,6191 25.180 Transfers betwtth fuhds 19 Net movement in fmnds 65.635 164.9741 25.180 RLCONCILIATION OF bUNDS Totsl funds forwaTrl 33.055 83J86 116.441 91,261 TOTAI. b UNDS CARRIED FORWARD 98.69) 18.412 117,102 116,441 The forni r*rt ofthtsc r]na￿l￿[ stal¢mcnts Page 13 Cjreenpower Education Trnst Balxnte Sheet 31st Detrmber 2023 2023 Total fiinds 2022 Total nds UnrestriL1￿ Rtstri￿e￿ fvnds FIXLD ASSb,"rs Investtncn CURRENT ASSE15 %tocks tkbtOT5 Cash at bank ond in ha￿ 13 14 61,474 126.9(M) 248.721 61,474 126.91K) 267.133 133.437 91,WO 63.629 18.412 437.IV)5 18,412 455.507 288.966 CREDITORS At7K>unts Idlling duc within onc ytar (314.1￿12) {314,0421 1137.999) NET CURREwf AssErs 123.053 18.412 141.465 150.967 TOTAL ASSETS LESS CURRENT LIABILITIES 123.054 18.412 141.466 150,968 CREDITORS Amounis falling due after more o]*year 16 124.3641 124.364) {34.5271 NET ASSF-. rs 98.6￿* 18,412 117.102 FUNDS Unreslricied fuThAs Resirictcd fU￿S 19 98.6 18.412 33.055 83,3¥6 TOTAL FUNDS 117.102 116.441 The finan menis were app￿V￿1 by the Bowd of Trus1￿ and auiknri5￿l for issue a￿1 Wtre5iy￿d on its IKhalf by: on JASFI. V£hCA J Trustee The ￿te5 fom part ofthtsc financia] slatetnents P8ge 14 Gtttnpower Edut*tion Trnst Cash Flow St#temeMt for tlie YeAr Ended 315t Dcrwnb¢r21nJ 2023 2022 N(>tc$ C#sh tlows from operAting activities ('a5h gener￿ed from 05￿ration 213.284 120.0861 wh PTovid¢d byllwed in) 0[￿1￿n8aCliViileS 213284 120.0861 C.L%h flow$ fronl fJD&ncin# *diviti# Loan repaymellts it) year 19.7811 {4.251) Net cash used in fitwn¢ing attiviti 19.7811 {4.251) Change bn CA5h and cAsh eqUI￿l￿nts in the reporting period Cash Ind cash equivalen15 8t the be%inning of the rnportim% period 203.503 124 J371 63.629 87,966 CAsh txskn e4uivAltllts gt tht et)d of the reportillg period 267.132 63.629 TK)tcs forrn r*rt ofihtse fina￿111 swe4nenL8 Page15 Creenpower Edueation Trnst Notts to the Cxsh Flow St*ttmtnt for the YeAr Ejbded 315t Detember2023 RECONCILIATION OF INCOMETO NET CASH FIX)W FROM OPERATING AcfiviTIES 2023 2022 intome for tht reportillg period {Ls per ibt Ststtmettt tsf Fin**tlxl Artiviliesl Adjustments for. Decrea5eJlirNYcasc} in %tocks IrtcTe￿ in debtors Inue&%e in credi￿rS 25,180 71.963 {35,0(M)) 175.660 145.9801 141,8201 42,534 cash provided byllused in) operations 213284 120.0861 ANALYSISOF CASII ANDCAS11 EQUIVALETrU5 2023 2022 Cash in hand N￿let deposits (less than 3 months) OvcTdraft5 included in losns aryj overdrafLs falling du¢ within 0￿Y￿r 198 266.935 228 63.401 Total cash and cash 4uivalents 267,132 63.629 ANAI.VSIS OFCIIANC.&S IN NEf FUNDS Al 1.1.23 C&%h flow At31.12.23 Net c¥sh Cash &t bank and in hand Bank overdraft 63.629 203.504 267.133 63.629 203.503 267,132 D¢bt t)cbis falling dut within l ye Debt8 f￿ling dut after l year (9,654) 134.527} 1382) 10.163 (10,0361 {24.3641 144.1811 9.781 {54,4￿) Total 19.448 213.284 232.732 txxts fomi part of thB5c firmncral $tsietnents P8ge 16 Greenpower EAuegtlOD Trys Notes to the Statethetyts ftsr the Year Ended 315t Detembtr 20LJ AccouKfiNG POLICIES Bxsi¥ of prep8rtng the financi81 $14temtnts The linancial statern¥nlS of th¥ Lh￿table comrAny. which is a wblie L*nefit entity under FRS 102. have bcen prepared in accordance with Ihe Lharitits SORP IFRS 102) 'Acwunting and Rewrting by Ch&ities.. Sthtrment of ReCoMm￿ded Practice applicable 10 charities txeFKaring x(x)unts in accordance wilh the Financia] RerM)ninE S18nd￿ applioble in the UK aThl Rcpublit of Irelatml {FRS 1021 (effective l January 20191,. Financial RerM)ning Standard 102 FsIw￿lal Rewrting StsNlard appli(xble in the LJK and Rwublic ot Ireland the ComFonies Aci 2M6. The ritonc1￿ swetnents hav¢ i￿en rrtrAred the hi%iori¢a] Ix)st c()nvtnliot4 with the excqjtion of Inve￿MentS whith atc included & maTk¢t val4 Income All incnrJK is rwisd in th¢ Sth1e4n￿1 of Finanti#l Actsviti¢5 orKr tlx charity has cthlilem￿1 10 the futKl& il is probable that the ifKme will ￿ rcc¢ivcd snd the am0￿1 Lxn ￿ Tlltaswrd rcliably. Grant5 and s￿)[￿rsh1r￿ aT¢ incI￿le41 in the Swetnent of FIn￿CIal Activities on a T￿el￿dble basis. The balAn¢e of inrotnc re￿iVed for S￿¢if1¢ p￿rr￿Se5 Fx]l rnl CXTaul during t￿ Friod 15 shown in Ihe rclevani funds on the Balanee Sheet. Wh#t iTKOtTlC is in advanLt of tntiil¢tn¢nt of TcccipL it5 recognition is deferred and included in creditors a8 defe￿ed iJKom& Where emill￿￿eThI ¢￿IrS before itKthYn¢ is received. the incomc is accrued. Donated servic&% or facilities #re recogniscd the (Iwty has (x)ntrol over 1hc ilcm, any conditions &8sociaied wirh the donated item h&v¥ m¢L the TeceiN of eco￿￿1¢ bth*fit fioTn the of the Charity of the item Is PTobabl¢ and th￿ economic bencfii tan k m￿sUred reliably. In accorthtt with the ChwitiQ> SORP IFRS 1021, thc gcneral volunteer time of l.ritnds is nDt remgnis¢d ar￿ refer lo the-Irus(ee5' re￿rt lor mott infoTmation ¥lknut their¢ontrilMMion. On receipt, (kmated professional 5crviccs atjd facilities are reeogni%e41 on the basis of the vdluE of the gift to the Charity which is ihc amouTri it would havt willing lo pay to obtain services or Facilitie5 of equivalent econotnic IKtKfit on the open Tnarket. a corrLwK)nding arnwrrt is Ihen recognised in &*pe￿illIte in the ￿riod of receirrt. Expenditu LiHbilitie5 recogllised &s expenditute as soon as tkre 15 a legal or consin￿tive obligaiion wrntnitting the eharily ￿ that exFrndifiwe. li is probable a tr8nsf(Y of econornic IMefJts will be requiTed in sdilement gnd the amount of ihe obligation can b2 musured Teliably. EX1￿]1u￿ is wlunied for on an accnjals basis and cl&8sified undtr he&lings that aggregaie all cosi rel&ed 10 the category. Whwr costs tannot be direcily Iribuied 10 p8rticuiar he&lings they have alloLxtrd io ￿1¥]11&$ on a basis wn5)St￿t with thc usc or resources. Gov¢rnment grants Gov¢TllTnent grants relating io tangiblc fixed &ssets •e t￿ted deftrrtd income and ]rlc&*d to Ststetnent of FI[w￿l￿ Activilith over ihe Gxrtcied useful liyts of the a5%ts conttmed. Other ￿[$ CTedited 10 the Statetnenl of Financi￿ Acli¥itie5 as the rel￿ed exFnditure Is IncU￿ed. Inttrèst reeeiv*ble Interest on funils ￿]d on ¢kw5it 15 incl￿ WI￿ Ttteivable the arM>uni me8surtd Teliably by the Ch¥rily', this is ]M)rnially UEM>n ￿t)ricatIon Of￿ inttwi ￿ld or toyaNe by I[￿titilliOrt with whom the funth are deposited. InlAngible Assets and amorti*xl¥) Iniangible >tssets co$ting £l.(MX) or rnore are capir8]ised and I￿￿gnIsed whell firture eC0￿MiC bcnctits a protrAble aTh4 Ihc cost or value ofts* 458et m￿SUr￿l ￿liably. Intangible &￿(5 8rc in*(ially r￿gnised at Co￿. Aft¢T fLYoBniiion. under Ilt ￿5t Tn(NJcl. intangibk a55ets are mvasured as less any accumlliats￿l a￿1 any ttcumlllaied impimtht10s5e5. Page 17 continLKd.. Creenpower Edui#tion Tntst Ntbtrs to the FÉnancial Statements- toKtiMutd for the Year Ended 31A December 2023 ACCOUNTING POLICIES- coNtinMed l*t*thgÉble ￿ets And arnoTti5atr>n Amonisation is providcd on tJiian8ible assets th N¢5 ￿kulated to write off the c05t of fach ￿et on a straight line b)si¥ ov¢r ils eX￿win8 annual in to write ofT each over its estitnated usefvl Plant and machinery FIxtuT￿ and fittin 2￿A on c( 2W• 011 COSI Tangibi¢ fixed asxts (x>#ing £2.¢XK) or ar¢ witalis&l aThl recognised when fijturc eeonomic benefits are protdbie aThl the cosL or vdue of the It measured reliabty. Stocks Stwks Ar¢ valucd at tk lowcr of ¢(￿t aryj T¢41i5able value after making due allowancc foT obsolctc and slow-movirtg stocks. Cosi inclu(ks dl di]ttt ¢(ffj5 aTKI an a￿rOpri￿e PTorx)rtKkn of fixL71 and variablc overheads. Txx¥tion Tht charity is txempl from torp)ration tsx ￿ its charitabk activities. Fund accounting Unrestricted tunds can used in XCOrdw￿ with (k ¢haTitsbleobjcL*ivcs at the diwelion ofilr R&%triLted only usd for partia)lar restri￿￿] p￿[M)SeS within i)bjects of the tharity. R&8tri¢tions arise whetj specifIed by the dotK)r or fut￿ aTe ￿Sed for particular rtsiriLxed pwM)se Furt￿r cxplanation Oft￿ n&ureaNI purwof tach fur￿ 15 Includ￿ in tlr note5 to the fina￿la1 statements. Pension costs And other post-refirement btnefjts The charilable company OF¢ratts a defined eonlrib￿1N￿￿ contr1￿110n5 payable lo the charitable Cotnpangs pcn5ion schcmc aTC charged to the StatemLrn( of TrithatKial Activiiics in ￿ TXTI￿ to which thcy relat DONATIONS AND LEGACI&8 2023 2022 DO[￿li0 Grants Swn50r5hip 4.1(A) 1.463 90.(M)O 165.11)0 251.769 169.160 Grdnts T¢c¢ivd. inrludrd ID th¢ are￿ folknw5: 2023 2022 Other 8rdnts 11.463 P88e 18 ntinued... Grecnpower EducatioTh'l'rn51 Noles to FJnAnciAI Staltmtnts- toAti•lltd for the Year Eniled 31st Deoemb¢r 202J INCOME FROM CHARI'I'AIII.K ACTIVITI&S 2(r23 2022 Artivily Sales or(￿s and parts Sales and parts SalLS of cars arml pan5 Sales of(xs atMI p Salts aThl Sale5 of cars and r 986.312 83.036 129 47.322 I I.(KK) 769.418 61.391 2.545 46.170 14.(M)O Mi%cellane(Jus iDwme Disiribulion and &grriage International lic¢ns¢s 1.127.791 A93,524 CHARI'I'ABI,b. AcfiviTILS COSTS Dirtci Costs (see nDte 5 costs {see nth61 Totals Sales of Cdrs and r 1.2J3.993 144.914 1.378,907 DIREC.T COSTS OF CHARITABI.E AcfJviTIES 2ff23 2022 staff c(L%ts Raies And wk)t(Y Advertisin8 F.le￿ne car racingseries Other direct cost G)nsul(atKy fe¢5 Renl Staff training and contradors LAMur and ￿)ntr&i0 Bad debis 0&￿ning stock Closing stock Clothing 289,711 2.898 2J07 785.889 42,000 8J16 30.000 261,604 2,145 10.736 594.221 29.199 27.658 30.000 866 263 133.437 161,474) 87.457 (133.4371 1,764 1.233,993 914.627 Page 19 Circ¢npower Edvtation I'ryst Notes to the FinAnciAI StaftmeThts- ¢ontitttsed for the Year Ended 31st DeceJDber 2023 SUPPORT Losrs Governance sts Monagernthr Firwnct Totsls Sales ofcars arKi parts 87.733 6.314 50,867 144.914 Suwort costs. included in the aè#)ve, arc as fol]ows: 2023 S81esof cars and parts 2022 Toial liviii¢s Wages Insurance l.i8hi and h￿¢ TclcpEK>lle General 0ffJceex￿n5e5 Cleaning Motor exp¢n5ts Travel and $ub8i8ten Re￿[s dtKI Tllaintena UK entert￿rtm￿nI Bank chargcs AuditOlS' Tanurieration Atiountw¢y and lega] fees 9.388 18,029 2.860 2.774 23.450 3,175 3.796 30.690 15.807 2556 3,492 21.001 2.026 4.7.32 32.897 2,072 3.150 6.314 7.835 43.032 7.094 10.500 9.883 144.914 122.877 NET INCOMFJIEXPENDrruRE) Net inc<￿tI1¢Xpcnd1t￿reI is Stated after dwgingllcr¢di(ing): 2023 2022 Audiiors, tEmuneMion 7.835 10.500 TRUS"rTr.Trs' REMUNERATION AND BF.NF.FIIS ThcTe were no ranuntrnti(￿ or other ￿nefIts for the yL7r etmkd 3Isi DecemF*r 2023 Mr for the year ended 31* D¢cetnber 2022. Trustees, expenses There were Th) trnstees. expJJses txid ftr the year vjthd 31J tk¢¢tnber 2023 nor for the year ended 31st Ikc¢￿t￿r 2022. Durit)g ihe year ended 31 DecemF*r 2023 exr£nses ￿talling £266 were reimbth3ed io iwo ts￿$teeS irt relation to travel cosis. In ihe previou5 year ￿￿ex￿$¢5 wu¢ reimbutsed. Pagt 20 conlinu2d.. Greenpower EducAtion Trust Noles to the Finall¢ial Stattments- contihutd for the Year EDd¢d 31st December 2023 STAFF COSTS 2023 2022 Wages and saI￿leS ial security ¢OSts (hher pension eosi$ 270,270 14,783 4,658 242,807 23.210 4.975 289.711 270,992 The av¢rag¢ tttonthly nujnlv of ¢rrspkiyee5 during ￿Y¢arWa5 as folk)w 2023 12 2022 io Charitable aclivitics sUp￿)rt 12 No employtt% enh)luments in eKCtsS tsf £￿.1X)0. Io. INTAP4GIBLE FIXED ASSETS Computcr 50ftware COST At 1st January 2023 and 31st Dttember 2023 4,073 AMORTISATION At 1st January 2023 and 31st Dectunbty 2023 4.073 NET BOOKVALUE At 3151 Dcccmbcr 2023 A¢ 31si D￿r[nber 2022 TANGIBLE FIXED AssErs Fi¥tUTI 8nd rittit Plant and machinery Totsls co At Isl January 21r23 arml 3151 Dtcernb¢r 2023 10.3 12.041 DEPRECIATION Ai Ibi lynudry 2023 4nd 31st tkcvnbcr 2023 10.3 1.651 12.ts11 NF.T BOOK VALUE At 3151 D¢L¢tDber 2023 At 31st Decesnber 2022 PaBe21 ontinLKd.. Greenpoiver Edut#tion Trnst Notes to the FiDancisl Statements- tontimvtd for the Year Endèd 31st Dtrefftbpr 2023 12. FIXED ASSET INVESTMENTS Shares in groijp undcrtakings MARKET VALUE Ai 1st January 2023 and 3151 Decernber 2023 NE'f BOOK VALUE Ai 3 Isi Dcccmbcr 2023 At 31si Deceml*r2022 Th¢K wffe no iDv¢51ment assds UK. The COm￿ny,S investhietlts al bat&*t dAt¢ in thE share{￿lta1 of comwdnies include the following.. Greenpower L4mited Rcgi51ered otrice.. The Grecntx>wer Cenlrq Anythl Ro￿, Foniwell. Anjndcl. Wesi S￿$Sex. BN18 OSD Nature of business.. Prim8ry ethJc&ion Class of share: Ordinary hDldin8 2023 2022 Aggrewe eapitsl and T¢s¢rves 2.495 2.495 IJ. grocKS 2023 2022 Stocks 61.474 133.437 14. DEwfoRS.. AMouTrrfs FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors (Mlrr debtors VA'I. 91.73 1.355 24.179 9.6.36 75.100 7.416 9.384 pre￿￿￿entS atKi accnKd 126. 91.SY)O Page 22 ntIR￿d... Creenpower EAiucAtion TtW5t Noles to the Ststements- continyed for the Ytgr Ended 3151 Deeember 2023 15. cRED￿ORS. AMOUPWS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank loa]L8 8rKI overdrafts (see rnte 171 Trade crediiors Arnounls owed to group ur¥JCrt￿lTrB5 Social St￿rity artd othtrt8XeS Oiher creditors Acfflia15 and d¢fured irthm¢ 10,037 2W.883 2.618 15.617 4.760 80.127 9.654 69.686 2.618 2.402 53.639 314.042 137.9)9 D¢f¢rred incom¢ 2023 2022 Deferred incom¢ ai l Janiw 21Y23 RcsouTG&% deferred during theyear Amounts relewed from peVi0￿ ￿lod$ 39JOI 66.835 {39.301) 47.468 39,301 147,4681 66.835 39.301 Deferred income comprises of £66.835 ¢￿10Mer twrnents in 8dv¥n¢x12022.. £39JOI}. i& CREDITORS: AmouTr￿ Tr AI.IANG DUE AFfER MORb.'I'HAN ONE YEAR 2023 2022 Bank loans Iscc rK)te 17) 24.364 34,527 17. LOANS An analysis of the matiwity of loans i8 ￿k>W." 2023 2022 Atnounls FdllTng duewithin oneyeHron der[w￿. B￿￿k oveTdrafts Bank low 10.030 9.654 10.037 9,654 Atnounts falling Ixtween one arKi D¥0 yc4rs: Bank loan5- l-2 Y￿r$ 10.2Y) 9.898 ATnounts falling between Iwo and fiveY￿[S. Bank loaw. 2-5 years 14.074 24,629 In Octokr 2020 the Trtt81 Sig[￿ up to tht Gtsvcrnrneni BourKc IAban seheme and rettived £50.0￿. Th¢ Trust teen ￿ted a re￿yment holmlay for a period of 12 Tnonrhs from thc datc on which ihc l(Tran is di?wn in rcsrkci ofthe L*piia] element of their Jyyments. From OctoEtr 21r21 tk TnLrf w&8 Tequircd ￿ msk¢ 60 rDoDihly rcpayjncnts of £887. Interest is charge5 on ih¢ loan ￿ 2.5Y• ￿rYear. Page 23 ¢oDtinued... Greenpowtr Education Trnst Not￿ to the FinAncial Statements- to*(imwt41 for the Year Ended 31st DetefftbEr 2023 18. LEASING AGREEMENTS Minimum It￿ ￿y1￿¢￿ts urKkr Don￿￿e¢llableO￿d1lrtg le￿ f811 due&s follows.. 2023 2022 Within one ytar Between one and live years In ￿re than five years 30,1 120.0(K) 97.5 30,WO I20.￿0 127.500 247.5(K) 277,500 19. MOVEMEKf ITr4 FIJiYDS Tra￿*f￿$ beNeen nd5 movement in fvnds Ai 1.1.23 31.12.23 Unrestricted Generdl fund 33.055 20.016 45.619 98,690 Restricted fiinds Cumtnins CPD ups 30.062 14.493 12.405 .773 &137 7.051 1.865 130.8181 7,105 114.4931 112,4051 18.7731 (8.137} (7.051 } (1,865) 6.949 Kusuma Weslmin5ter Motorola MacRobert Trusi tk Togtthcr Cubi£x> Susiainable Inve8mi* 11.463 11.463 83.386 119J551 145.619) 18.412 TOTAL FUNDS 116.441 Net movement in fijnds IrKI￿ in akn¥e &% followA: Itmixnrng Movemeni in fvrK15 n(led Unrtstridtd fllnds Genera] fund IJ68.105 (1.348.089) 20,()16 Restrirted funds Ciimmins CPD Cubico Susthinable Invesmalts {30.8181 130.8181 11.463 11.463 11.463 {30.8181 119.3551 TOTAL FUNDS lJ79.568 11.378.W71 Page 24 )ntinued... Creenpower Edutation Trnst Note5 t(b the FiD4nci81 St*tsme*ts- totttithued for the Year Ended 31st De¢ember2023 19. MOVEMENf IN FUNDS- eoatinutd ComparAtives for movement ill fvnds Transfers Iwecn funds movts￿ent in fiJnd5 Al 1.1.22 31.12.22 Unrestritttd funds (iencral fund 88J72 16.565 33.055 Restricted fuDd$ Curntnins CPD 54,635 14.493 23.384 9,424 12.882 19.640 17.843 3.567 5.81X> 1.475 {23,973} 30.662 14,493 12.405 8.773 8,137 ups Kusuma Wes1rninst¢r Motorola Sicmcns M#cRokrt Tw$t B¥ Tog¢ih¢r Norfolk Community Wailing {10.979) 16511 14.7451 13.0751 110.7921 11.7021 15.8LN>I 11.4751 {16,5651 7.051 1,865 163.143 163.1921 116.565} 83.386 TOTAL FUNDS 91.261 25.180 116,441 ComTrarntive nct fflovcmcnt in fund& IrKI￿￿j in the atove ue as folbw5: Incoming Resouttrs exr*ndtd Movem¢ni in f￿ndS UDrestricled fvDd$ Genet81 fund I.1￿2,684 {974J121 88J72 RtStrirttd funds Cumrnins CPD Ku5uma Wtslmin5ter Motoro Si¢tncns M￿RObert Trusi Bc Tvgether Norfolk Community Watling 123.9731 110.9791 (23,9731 {10,979) 14.7451 13.0751 (10.792} {1.7021 15.8(N)I 11.4751 14.7451 13.0751 {10.7921 11.7021 IS,8WI 11.4751 163.1921 (63.192} TOTAL FUNtx8 1.062.684 11,037.5041 25,180 P￿¢ 25 continued.. Greenpower Elutation Trnst Notts to the Fln*thti*l Ststeme*ts- tontillued for the YeAr Ended Jlst De¢ember202J 19. MOVEMEiif IN FUNDS- eontinue41 A ¢urrent ye￿r 12 months and prioryw 12 mothhs {X￿l￿r￿d pxitiOD j8 8$ follows: Net movanent in fvnds Transfers IKtwttn fuDds Al 31.12.23 Ai 1.1.22 Unreslricted fu￿1$ Ge￿rnI fund 171.8f2} 108.388 62,184 98.690 Restritted funds Cummin5 CPD ups Kwuma Wesiminster Motorola Sietnen5 M&cRokrt TTU$t Be Together Norfolk Community Watling Cllbico Sustainable Investments 54,635 14.493 23.384 9.424 12,882 19.640 17.843 3.567 {54.79l } 7.105 {14.4931 {12,405) {8.773) {8.1371 116,565) {7.051) 11.865) 6.949 (10.979) 16511 14,745 13.075) 110.792 11.7021 15.8th1 11.4751 11.463 1.475 11.463 163,143 182.5471 162.1841 18,412 TOTAL FUNDS 91.261 25.841 117,102 A cU￿ent year 12 M(￿th$ s￿d prioT year 12 month comlined TKt movemeni in fi]tKL% includd in ihe a￿ve are &s folk)ws'. Incoming R￿0￿rr¢S exTMded Movement iv fvnd5 Unrestrieted funds Gcocral fund 2.4JO.789 (1322.4011 108.388 Restrided fttrtds Cummins CPD Kusiima Wcstrninster MotOTola Siemens MacRoVKrt Trust Be Together Norfolk CvTnTnwiity Watling Cubiw Su5tainablc IS4,7911 110,9791 16511 14.7451 13.0751 110,7921 11,7021 15.8001 11,475} 154.7911 110,9791 1651} 14.745} 13,075) (10,7921 11.7021 15.800) 11.4751 11,463 11.463 11.463 194.010} {82.5471 TOTAL FUNDS 1442.252 12.416.411) 25,841 Motorol* Funding to provide Goblins it) S.E Midlat)dL Page 26 Cont1nL￿d... Greenpower Edll¢Ation Trust Notc5 to the Financigl Ststwnents- continued for the Year Ended 31st Dttember 2023 19. MOVEMENf IN FUNDS- tontiDued .Siemen$ Fundingto provide a f0rwinr￿￿S of 8s well &$ fu￿lIng toword5 F24's. MacRobert Trust Ttswjrds th¢ c5tablishrncnt of the 5raff team and its WOTk aThl the of volvtrtws to the growing interest in Ihis projett in knlatkl. Be'foge(her Fundingto an eveTrt in StaffordshiTe. Norfoll4 Cornrnttnity Participation of 14 scl)(xTrls in ihe Yamuth Norfolk ar¥J Br￿landS Tegions to take part in Ihc GTccn￿ww TET P24 challeng& CuTnmin%5 CBD Funding to inbed GTecnJx)wer Goblin PTOjttt into primary thJ)I curriculum and io provi(k CPD for teacheL* Tunning the TKojecL ups Softwarc emhancCm￿I io improve prtiCiJMlion. safety and expcFiCnC& Kuswma l.unding provide discounted Goblins aTrJ l.?4 cats to 6 Primary sch￿1$ Ond 6 Senior Sthw15 in London IKeRsingt()n, Chtlsea and W¢stsninstCTI Westminster I'urKiing lo provi(k di5counta GobliTLS to 9 Primary Scknls in Westhjiyth. Cubic4 Funding ¢0 &%sist 7 s¢hLKJls {preferably Ea￿ LOn(k￿ ￿ fema]e ideniif]ed ¢omtx)sitionl purchase F24 car5. Set up r*w teams and prticipaie in Grccnwwcrclwllengek TrnnSfe￿ bthveeth Th¢ ￿5ffer5 bdwten (he 8￿al fund and rcstrided fiumls relak to conrrlion5 of funds in prior years and closures of projects. 20. RELATED PARTY DISCLOSURES At ihe year end dait. t]￿ cl￿rity ow¢d GrccnpJw¢r l.imiled. its IIWO owned subsidiary £2,618 12022.. £2.618). No rel*thd p&rty ira(L&￿I0￿S look pl&%durithg this ye4ror the previous fiTMncial year. Page 27