Registered Company Number 02427258 Registered Charity Number 1151S78 Forest Recycling Project Limited Report and Accounts for the year ended 31 March 2022 *ABHYAV7 0111212022 COMPANIES HOUSE
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Forèst Recycling Project Limited Company Information Status Forest Recycling Project Limited is a registered charity and a company limited by guarantee and not having share capital. Dirertors The directors of thc company land trustees of the charityl for the ycar ?021/?2 were.. Jo Winyard Ichair to 19 May 2021. continuing as trustee beyond) Mona Vakil (Chair from 19 May 2021: Treasurer) Thomas Fox (Company Setretary) . Nicola Hughes (to 19 May 2021> Eleanor McDougall {to 19 May 20211 Veronique Jochum {from 19 May 2021} Benjamin Ingram (from 19 May 20211 Jonathan Emmett (from 19 May 2021) Members of the Board of Trustees are trustees for the purpose of charity law and directors for the purpose of company13w. All of the directors/trustees are volunteers who do not receive remuneration. Registered office 2c Bakers Avenue London E17 9AW Accouritsnt and Independent Examiner Waqas Hussain ACCA 10 Knebworth Avenue London E17 SAI Registèred company number 02427258 Registered charity number 1151578 .
Forest Recycling Project Limited Directors Report for the year ended 31 March 2022 Introduction Forest Recycling Projert Limited IFRP} is a registered charity and a company limited by guarantee. .FRP meet5 environmental challenges with solutions that provide local benefits on both an individual and community level. rh FRP was incorporated on 28 September 1989 and is governed by ArtTcles of Association that were adopted on 16 January 2013. We are based in Waltham Forest, East London. At FRP we work with individuals, communities. not-for-profit organisations and other companies to meet our objectives. The trustees here present their report and accountsfor the year ended 31st March 2022. The accounts comply with the accounting policies set out in note l of the accounts and with the Charity Commission's 2015 SORP Istatement of Recommended Practice- Accounting and Reporting by Charities). Chair's Report on the year 2021-22 Despite the uncertain environment since the start of the pandemic in March 2020, we are both plèased and proud to positively report on the financial year ending 31st March 2022. The 2021-22 fi'nancial year continued to present challenges as we started the year with our retail operations closed following government guidance. However. the hard work and adaptability of our staff and volunteers has enabled Forest Recycling Project Ltd IFRPI to both meet these challenge5 and overcome them. and we would like to thank all of our staff and volunteers who have been crucial in FRP'S positive outcome during this financial year. Some examples of this adaptability include the continued modification of working practices to meet government guidelines and ensure the safety of staff. volunteers and those that come into contart with FRP. the introduction of -click and Collect" for scaffolding. as well as 50tial distancing to allow volunteer opportunits'es to continue when we have been able to do so. We would like to mention a big thank you to our funders. without vthom we would not be in the fortunate position of being able to report such positive results= The National L(>ttery Community Fund, William Morris Big Local. Th"e Postcode Society Trust and North London Waste Authority. We would 3150 like to exten.d our thanks to our individual donors who 5UPPOrt FRP. We especially appreciate our funders and donors in providin£ us with the opportunityto deliver on our aims and goals.
The Directors are proud to report that FRP has had several achievements over the past financial year. and some of these include: Volunteering OpportunIe$ and the Green Champlons Progrdmme Green Champions is our peer-led learning model, providing skills base'd volunteering opportunities in retail, carpentry, paint and fabrics. The projett had a successful third year, with positive wellbeing impacts reported by volunteers as well as being able to exceed the target number of volunteers we were hoping to reach. With the agreement of our Funder. our target of 60 participants was reduced to 40 given the pandemic conditions, however we are proud to report that we were able to.reach 62 participants. This was the third and final year of this Green Champions project. and with the generous funding of the National Lottery Community Fund (NLCFI, we are pleased to be able to continue to evolve the Green Champions programme going forwards in 2022 and beyond. We are very grateful to the NLCF for their continued support. Re-use work and Community Presence Walthamstow Tool Library completed a successful pilot and we are very grateful to our funder, William Morris Bi8 Local, who have funded the project for a further two years with the creation of a new Tool Library Coordinator staff post. FRP continued to be involved in the annual Hackney , Toy Project and has increased the number of Give and Take events, allowin8 members of the community to re-use and have a positive impact on the environment. Thi5 work is in partnership with Hackney Council and we would like to thank them for continuing to enable us to deliver these services. FRP facilitated further ruse of fabrics in the delivery of a lampshades project in the year and we thank our funders, the Tate Modern and North London Waste Authority in making this possible. In addition. FRP was pleased to be part of the Walthamstow Art Trail in 2021, further forging connettlons with the local community. Operational improvements The financial year saw continued operational improvements and efficienciesincluding the disposal of most of residual waste paint held at our sites and ongoing Stock reviews. The staff team got the paint and retail operations fully up and running and adapted for Covid safet.y as soon as it was possible early in the financial year. We've been delighted to collect over 20.000 litres and further distribute over 14.000 litres of reuse paint this year. In addition, FRP was very fortunate to receive grant funding from the Postcode Society Trust, which enabled the organisation to purchase a ULEZ compliant van to replace an older van. We thank the Postcode Society Trust for their support in helping us to reduce our impact on the environment in this regard. The organisation continues to review its risks and policies on an ongoing basis and during the year the health and safety risk assessments and retail policy were reviewed especially in IiEht of the changing government guidelines. as well as the safeguarding policy.
Strategy and looking forwards As we ended the financial year in a stronger financial position than at the time of the previous strategy in 2018, we look forward to the future and one that is not dominated by financial concerns in the short term. DurinE the year. the Board ofTrustees and the staff team collaborated together to launch a new strategy for the organisation. setting out our aspirations for the next three years and providing a clear focus for our future. The new strategy incorporates our five core values: Inclusive. Sustainable. Community-focused. Enterprising and Collaborative. This new strategy builds on the stride5 we h.ave already made to be a more linancially sustainable, resilient or8anisation. especially important in these times of economic uncertainty ' and inflation. The strategy sets out how FRP is looking to further increase its impact in the community and towards a greener environment. and as volunteering is currently at the heart" of our activities. this is one of our priorities going forwards. As referred to previously, we are very fortunate to have secured funding for the next four years from the National Lottery Community Fund to evolve the Green Champions programme, for which we are extremely grateful. Following this revievi of our objectives and priorities for the next three years, we look forward to working towards our goal of creating a 8reener. more inclusive community. Mona Vakil, Chair of Trustees for the year 2021/22, November 2022 Professional services The Direttors would like to thank the following.for their 5ep4ice to FRP in this year: HR Advisor: Populo HR Payroll and Quickbook5 services.. Brookficld: Accountants Independent Examination and Accounts Preparation". Waqas Hussain
Trustees and Workforce Team in 2021122 Board of.Trustees (Directors) Chair.. Jo Winyard (to May 20211 and Mona Vakil {from May 20211 Company Secretary: Thomas Fox Treasurer= Mona Vakil Board members= Nicola Hughes. Eleanor McDougall {to May 2021} Veronique Jochum, Benjamin Ingram. Jonathan Emmett. Jo Winyard {from May 20211 Staff Chief Executive: Alison Griffin Retail and Operations Manager to July 2021= Gosia Rokicka Retall and Admin Assistant from July 2021= Kim O'Donovan Paint Worker.. Clive Henry Oriver and Paint Assistant: Les Nicholas Green Champions Project Manager, Carpentry Lead and Designated Safeguarding Offi'cer: Greg Dickson Green Champions Project Mentor and Fabric Lead: Elizabeth Salazar Retail Assistant: Emily Palmer Kickstart Apprentice from September 2021 to March 2022-. Kacper Pietrzyk Tool Library Coordinator from January 2022- Katja Benkel Volunteers The staff work with, and are complemented by. a fantastic team of volunteers whose Contribution is greatly appreciated. We extend immense gratitude to all our volunteers fortheir time. commitment, work and enthusiasm over the past year, and the Board of Trustees acknowledge and greatly appreciate the contribution of each individual who has given theirtime to us. Governance and Management The trustees work closely with the Chief Executive, who is responsible for the day-to-day management of the organisation and overseeing the staff team. Trustees Idirectors) meet at least four times a year to consider the activities of the organisation. and typically every two months. Additional electronic meetings and discussions and approvals.by correspondence are often held in between these times. plus the Chair and Trustees have contact with the Chief Executive and staff team regarding projects on which they are working between meetings. In 2021-22, pandemic conditions meant that trustees met virtually for most of the year."using videoconferencing software. Trustee5 can be appointed to the Board by the other trustees at any time. The appointment of any new trustees is decided and approved by.all existing members. New trustees are briefed on their legal obligations under Charity Law. the decision making processes. the business plan and the recent performance of the charity. They also meet the staff team. Trustee's are encouraged to attend appropriate external training and events where these will facilitate the undertaking of their role.
Annual Report on the year to March 2022 Forest Recycling Project limited's Aims FRP'S aims are the protection and pre5enrfation of the environment for the public benefft by: The promotion of waste reduction, refuse reclamation. recyclin8. re-use and repair of recycled products. Education of the public about all aspects of waste generation. waste management and waste recycling.. Working together with marginali5ed members of our community to promote sustainable living and improved mental health. Forest Recycling Projert Limited's Objectives FRP'S solution to improve local sustainable living: At FRP. our main operational goal" is reclaimin'g, repurposing and affordably selling waste material that would otherwise h'll and pollute local landfill sites or go to incineration. and working alongside and supporting volunteers in this work. The three main products we recycle are paint. timber and fabrics. We: Redaim: We take waste items of unwanted paint. timber and fabric, along with waste paper, and we stop them entering local incineration and landfill sites. Repurpose: Paint is checked, sorted and sometimes re-mixed. Timber is cut, sanded and oiled and is used in a variety of ways, including to build items to assist the biodiversity of local ec05yStems such as habitat boxes and planters. Fabric is sorted and used for crafting/upskilling workshops and 501d affordably as bundle5 to local schools and community projerts. Re-sell: We sell a growing range of recycled and repurposed products. offering a cheap alternative to mainstream 'green' products, along with.paint. timber and fabric to the local community. This ensures all sections of the community, as well as accessin8 unique products. can afford sustainable living.
The Impact and Value of Forest Recycling Project Limited's Work FRP is all about bringing environmentsl and social benefits to the local community. We play a part in London becoming a zero-carbon 'circular' economy. designing out waste from how we live and work. We have analysed the environmentsl impact of re-using waste materials below: • the amount of VSte saved: and the greenhouse gas emissions avoided by not creatin8 new products I'CO2 equivalent'l. There are also wider posilive environmental impacts to FRP'S work: Reclaimed materials ensure valuable resources are conserved. We avoid potential air, soil and water pollution from waste disposal. The planter5 and bird boxes built by volunteers in our carpentry programme contribute to local biodiversity. FRP'5 work increases awareness of the environmental and economic benefits of reducing, re-using and recycling waste. • FRP'S work with volunteer5 and the public enables and empowers people to take environmental action. f RP'S collaboration with donor businesses enables corporate action to support the environment and the community, and raises awareness within their teams. We also hope to help change people's relationship with'stuff,, anLI how they perceive waste. This means switching from a disposable consumer culture towards one that makes sensible use of what we have. re-using and sharing where possible. The cultural shift in mindsets and habits is harder to measure than the amount of carbon and waste saved. but it is also crucial. The tool library is a great example of this- making it normal and easy to borrow a drill instead of everyone needin8 their own - and showing again that the environmental and social parts of our work are inextricably linked. FRP'S Work Wlth Paint Every year in the UK over 320 million litres of paint are sold. Of these. it is estimated that SO million litre5 are unused, stOd in homes or garages or thrown avlay. FRP'S view is that unwanted paint is a resource that can be used to transform local environments, whether through providing an affordable way for Iow-income households or charitie5 to redecorate. or supporknng local artists to create beautiful community murals. Paint business model: Reusable paint is reclaimed from recycling centS or commercial companies. At the.FRP warehouse, our team of stsff and volunteèrs Sort. quality<heck and re-mix the paint, ready for redistribution. https=Ilcommuniiyrepaint.org.uV
The paint is sold as a sustainable. low-cost alternative to the general public. through our two retail outlets-our paint shop in Walthamstow and our paint warehouse in Leytonstone. On average. each litre of reclaimed paint is £3 cheaper than the new equivalent- and further discounted .paint is also offered via different Schemes to= Charities, community groups and not-for-profit organisations Housing associations Council housing tenants Palnt impart 2021-22: FRP'S paint re-use avoided 38.1 tonnes of CO2 equivalent emissions by avoiding the manufacture of new paint. Our paint operation was affetted by the pandemic. and started the year in lockdown (closed as non-essential retail), but had double the impact of the previous year, as we were delighted to reopen and rebuild our operations: Paint collected= 20.914 litres. Paint distributed: 14.014 litres. 4.000 litres of unusable paint derived from completin8 a clearout of our warehouse. which was safely disposed of. 2020-21 had been a year marked by lockdowns and restrictions, and 2021-22 saw us emerge from that, with caution. The safety of our staff, volunteers, customers and visitors is always our highest priority. and this year again it W3s a very pressing concern. Our work remained very modified. and when the shop and the warehouse were open. this was done in a covid-safe way, which reduced oiir capacity bLIt l(cpt cveryone safe. It wa, 8reat to be open again. with c3ution. and incre3singly serving and working with the public again this year. Meanwhile we reaped the benefits of the work staff had done Iwlth covid-safety Measu5) to clear out and reorganise the paint at our premises. enabling us to serve and satisfy customers much more quicklv this year. We will always have waste paint where reclaimed paint becomes unusable and needs to be safely disposed of. and this also represents an opcrational cost to the charity. but we have now cleared out a substantial backlog leaving us better posithoned going forward. FRP'S Work With Timber Reclaiming scaffolding boards can have signtficant benefits to the economy and the environment. 'In 2019. it was estimated that just 60% of the UK'S waste wood was recycled - leaving some 2 million tonnes going to waste. We reclaim and reuse.scaffolding boards that are no longer required by industry and building slte5. http".Ilwww.hse.gov.uklwoodwrkinglreryclbng.htm
Timber business model: Building developcrJ and other industry partners donate used scaffolding to FRP, which would otherwise have been sent to landfi'll or incinerated. The boards are sorted and stored in our local yard and workshop. A small proportion of the reclaimed wood is sold on to local customers in its basic state. The majority of the timber is repurposed by FRP'S team of staff and volunteers. who cut the wood to bespoke size, sand and/or oil it to be sold on to the public. Timber is often used in our workshops to cate planters. biodiversity boxes or raised beds. This provides added social and environmental benefits in our community, as it creates new areas for green growth. rjmber impact 2021-22: 2,049m of scaffold boards were repurposed between April 2021 and March 2022. Assuming a weight of 4kg/m. this equals a total of 8.2 tonnes of scaffold boards. Using a very conservative figure for calculating CO2 savings. this equates to 3.02 tonnes of CO2 saved {ba5ed on 295'kgltonne whith is compared with using new wood). We also estimate that the majority. 75% is used for indoor furniture projects which will become a longer carbon store. Using this assumption. 75% or 7_68 tonnes used inside lavoided impact from using new wood plus carbon storage in recycled wood not burnt) equals a further 5.12 tonnes CO saving. This results in an estimated total saving of at least 5.77 tonnes CO2 equivalent. As with paint, our ability to work with and use or sell timber was afferted by pandemic conditions. As described above. we were closed to customers going into this year. working with social distancing and restricting the number of people we could have on site in order to keep everyone safe. Donor companies were also typically reopening and reestabli5hin8 themselve5, and preoccupied with their own highest priorities- we highly appreciate all the donations they did manage to make. Timber, however, was a product that we were able to sell and distribute using 'click and collect. further to previous innovations in 2021-22. which proved very successful, and we plan to continue to offer this service in future. FRP would like to give a special mention and our thanks for all the donations of scaffold boards. ENJ Scaffolding and Globe Scaffolding have been our biggest donors, as well as the smaller more local companies, Mate50ns, EH ond B055 Scaffolding who h3ve been great in keeping usgoing in between the larger donations. They have all made significant positr've environmental and community impacts on behalf of their companies through their donations. Scaffold produrt Sales have continued to increase and we are only limited by supply. We continue to seek to grow this reuse work in partnership with scaffolding and building companies locally.
FRP'S Work With Fabrlc Greenpeace statistics suggest that globallv. an estimated 400 billion square metres of fabric is produced annually, of which 60 billion square metres will immediately end up on cuthng room floors as waste lan area four times the size of London!}. Much more becomes waste, or sits stored and unused, further down the supply chain. The wasted fabric is all sent to landfill, incinerated or sits unused. FRP believes that any fabric cuts are useful resources with potential for local reuse. FRP commenced a pilot project in January 2018 to reclaim unwanted fabric in our community, and we have continued to develop this. The aim is to reduce the impact of wasted fabric on landfill and CO ernissions, and to sort and repurpose the fabric so that it can be sold back into the community. Fabric business model.. Sole traders and businesses across London are invited to donate their waste fabrics. Donors have included interior designers. fashion designers, furniture companies. film production companies, theatres and upholsterers. Donated fabrics are weighed and sorted by volunteers into fabrictype Iman-made or naturall and into colour and tone. The processed fabrics are sold individually to the community at affordable prices, and to community organisations and schools via our membership schemes. Our.quarterly fabric sales became so popular that we started runnin8 them monthly before the pandemic, and we hope to restart them soon. As we have developed this project, we have started to train volunteers with sewing skills and knowledge of fabrics. and to support and mentor them in making and developing products for themselves and for sale. We have also developed a programme of community workshops. Fabric impart 2021-22: FRP sold around 340 k8 of fabric, diverting it from landfill. this year- equating to around 0.7 tonnes of CO2 savings. Additional positive impact and CO2 savings came from using donated and reclaimed fabrics for events and workshops - an estimated further 80kg of fabric. equating to a further 0.2 tonnes of CO savings. We also started offering a clothes mending service at London Borough of Hackney's Zero Waste Hub events, which saved a lot of clothes from going to waste. Total estimated saving of I tonne of CO2equivalent. As with paint and timber above, our work with fabric has been seriously impacted by the pandemic in the past two years. We have done what we can. when we have been able to be open for retail andlor 50¢ially distanced volunteers, and we have done as much preparation as possible in between, often working from home and with volunteers on Zoom and bycorrespondence. Social distancing has meant that fabric sales- where a lot of reclaimed fabric was bought for community use- have not been possible, but we hope to reintroduce these in 2022-23. io
FRP'S Work With Volunteers FRP'S operations and impart have always been made possible by working in collaboration with volunteers and the wider community. In pariicular, the processes of handlin8 and repurposin8 the reclaimed materials are led by our skilled mentors, but predominantly carried out by volunteers. We particularly.welcome and support volunteers who are more marginalised in our community, and who can beneh't m05t from our supported programmes- and who in turn make a fantastic contribution to our charity's work. Our team of staff and volunteers work closely together and the unique skills and attributes that each individual brin8s are valued and fostered. Green Champions This year represented the final year of a Green Champions project. kindly and generously supported by The National Lottery Community Fund. Green Champion5 is about encouraging and facilitating a positive lrfe change. through volunteering and learnin8 skllls with our environmental charity- We want to take people who sit on the edge of our community and ask them to lead in this tremendously irnportanttransition to a green economy. Being part of the solution is immensely powerful when you are used to being seen as a problem. Building on learnlng from Waltham Forest Foundations, Green Champions also now enable5 and encourages some volunteers to stay with FRP for an extended period to further progress. and with an ultimate aim that IO% will gain roles in the green economy. Dedicated project officer time is enabling us to build links and relationships Wlth referral organisations, including those that deliver social prescribing and local mental health support services. 50 that we can reach some wonderful new volunteer5 Wlth unique contributions to bring. and who stand to benefit from the inclusion and opportunities that supported volunteering can offer them. Each individual volunteer registered to the project comes to FRP each week for three months, during which time they learn about how to work with reclaimed materials and develop their contribution to the charity and the environment. In a number of instances, we know thi5 has h.elped them to gain paid employment. and in many cases we have tracked with volunteers the direct improvements that volunteering with us has brought to their confidence, self esteem and general mental health. Over 60 adults participated during this year of the project. many of whom were vulnerable or marginalised in some way. Each volunteer undertook a pathway and developed skills in one of- Carpentry Fabric5 Conservation Collecting. mixing and delivering unused paint Selling recycled goods in one of FRP'S retsil outlets That we exceeded our aims for how many people could participate in our Green Champions programme this year was particularly remarkable. and a testament to our team. to our commitment to this programme. to everyone who was willing to take part under adapted circumstances, and to the flexibility li
of The National Lottery Community Fund as a funder who supported us deliverin8 in adapted ways throughout the pandemic. We began the year under lockdown. and welcomed people back slowly in a way that ensured maximum safety and. in particular. social distancing. We increased our capacity through recontiguring our working arrangements so that people could be on site in small groups- with good distancing and enhanced ventilation- every day, and we also continued remote and hybrid access to our progr3mme5 in the early part of the year. The Green Champions who worked with FRP throughout the year land the year before as welll showed great enthusiasm and dedication to their work, and we are enormously grateful for all their contribution and support for our proEr3mmes. and for all the health and safety measures that we put in place. BeinB the final year of the project and its funding, we did a lot of evaluation and reflection of our work and how we might do much more in future. This went alongside FRP'S wider strategy development for 2022-2025. mentioned elsewhere. We held focus group5 and condutted a lar8e survey to get very valuable input from those who had been participating in our programmes. We had feedback from all o.ur staff te3m. At the same time, we had (as always) data on participation and impact (including wellbeing impact) of the programme- some of which we include below- which we had monitored and evaluated throughout. Over a period of months this year. we evaluated and developed our new, improved strategy and took an outline of this to The National Lottery Community Fund. who invited us to provide them with a,full proposal. We are hugely grateful to The National Lottery Community Fund fortheir support, and utterly delighted at the time of writing (September 20221 to now be in receipt of a new grant from them for the next four years of our Green Ch3mpion5 programme. Volunteering programme5 impact 2021122: ement In 2021122, the Green Champions programme participation comprised: Fabrics 22 people Carpentry 27 people Paint 4 people Conservation I people TODI Library 8 people Fabrics development pathways 7 people Carpentry development pathways 9 people The Green Champions programme is designed to support wellbeing. Volunteers undertake a Warwick-Edinburgh Mental Wellbeing Scale IWEMWBS) survey at the start and end of their placement by completing 15 questions to yield their current personal well being score. We saw that the vast 12
majority of participants showed an improved score at the fi'nish compared with that at the start. In 2021/22 there was an average increase of 8.8. across everyone who completed before and after d3ta. A change of +3 is classed as a meaningful positive intrease in wellbeing. This was furthermore higher than the +5.3 from year one of the project {which was still very si8nificantl. This suggests that during the pandemic conditions of the last two years. and with the adaptations we put in place and all the learning we have accumulated. our prograrnmes have been having an especially positive. and higher-thanryever, impact on wellbeing. We also asked all the Green Champions participants from the last three years about their experience of how their time with us impacted on their wellbeing when we surveyed them in early 2022: Please tell us whether you feel your time with FRP.helped your wellbeing. so 30 io Jo li. A 8reat deal Quite 3 lot No elftr Had ¥ ne8atSve Èflert. Individual Outcomes Individuals who have worked with us have told.us about how they have subsequently gone on to new opportunities. social engagement. increased confidence and employment. We are incredibly proud of all that people have achieved. and extremely grateful that this programme has enabled us to help people so much. In our recent survey of the Green Champions. we asked what people had done since joining Green Champions, and the response was: 71% have used the skills they learned at FRP elsewhere (practical skills or other things they feel they gained from their volunteering) 51% have made new friendships through volunteering at FRP 32% feel better informed aboutthe environment and ways that they can have a positive impact 17% have started new volunteerin8 elsewhere 24% have started new paid work 37% feel their confidence has improved 51% feel more connected to their local community 13
Green Office In addition to FRP'S three main reclaimed products, we also offer a paper recycling service. Paper business model: FRP collects offi'ce paper for recycling from small businesses and not-for-profit organisations within our locality. The paper is taken to a local paper mill to be recycled. Paper impact 2021122: Within the year, FRP collected and recycled 2,900kg of paper from local businesses and charities. Delivering Through Partnerships FRP recognises that the best way to achieve its charitable aims and objectives and to Secure real impatt in the community, is often to work in partnership with others as well as participating in communitv events, and welcomes the opportunityto do both. FRP continues to actively seek new partnerships that will be mutually positive and offer further environmental and social solutions. We would like to work with more community organisations to create innovative solutions to complex problems. In addition, FRP is always keen to collaborate with"a wider selection of private companies who will donate their reusable waste materials to us and improv.e their own environmental impact. In recent times, through the pandemic, partnership working was hard because of restrictions, and much that had been planned, or which had been done in previous years. didn't take place. We a.re very grateful to all our partners for continuing to develop relationships with us. often deferring and expanding on plans for post-pandemic working. and we have started to take forward more in this year 2021122. Walthamstow Tool Library - Workin8 With William Morris Big Local FRP is delighted to have been partnering with William Morris 8ig Local IWMBLI to deliver on their 8reenin8 and community engagement projects for the William Morris Ward area of Walthamstow. Walthamstow Tool Library was a highly successful 2019-21 pilot project to develop and deliver a local tool lending library. particular5y for garden tools, with the desire that it can become a local greening hub and build on what was started with a 'Greener Together. partnership projett. The project was launched in the community in surnmer 2020- limited but not thwarted by the pandemic conditions, as we ensured we started it in a covid-safe way. In 2021 it was able to fully launch and start to realise its potential. Over ISO members of the communityjoined, borrowing tools for personal and community projects, and a number of people kindly donating tools as well to make the project possible. It is turning into a great project in terms of both its social and environmental impact, and as 2021 came to an end William Morris Big Local decided to continue fundin8 our delivery of the project for a further two years- including enabling us to employ a part-time Tool Library Coordinator as part of our team - and we received an Awards For All grant to do community engagement from the projett in 2022. We are very. gratef.ul to Williarn Morris Bi8. Local for everything they are enabling us all to achieve in the area by working with us. 14
Community Repaint networf( FRP is a member of the Comrnunity Repaint network. This gives us the benefit of being part of a network of reuse paint outlets and the expert support of the small team at Community Repaint. for which we are very grateful. They also promote our outlets and signpost potential bulk paint donors to U5. Solar Panels .FRP continues to host an array of solar panels on the roof space at 2c Bakers Avenue as part of the GREEN community share initiative. From 2nd April 2021 to 30th March 2022, 1053 kwh of solar electricity was generated through th"e.pane15- this energy consumption would have emitted 0.24 tonnes "of CO2 equiv31ent if taken from the grid. 15
Financial Review Income for the year amounted to £232.762 (2021: £216.4581, £87.827 of which was unrestricted12021.' £96,797). Expenditure amounted to £223.62012021: £181,461). This resulted in net incoming resources for the year of £9.142 {2021: £34.9971. FRP seeks to develop its busine55 and charitable income. to diversify its income and to always seek to keep costs to a minimum. Prudent financial management is extremely important to us. This is vital to underpinning the work of the charity. and support7ng the strategic aims and vision. In March 2020. we were delighted to achieve our reserves target of 3-6 months of running cost5 held in reserves. and we have maintained this since. in spite of the challenging times we have been in. The retail closure5 and limitations of the pandemic significantly undermined our ability to earn business incorne. However. we successfully restarted all our operations where we were able to. We had successfully applied in 2020121 for the award of government grants to compensate for retail closures - and these were a huge help. including going into this financial year. Enormously supportive too W35 the continued grant income from The National Lottery Community Fund. and their agreement and encouragement to let us deliver in a flexible and responsive way. As a result. as well as continuing to deliver charitable and retail attivities in as much as we were able. we have been able to report a positive financial position. New work and operational development was also made possible by new income in 2021122. William Morris Big Local IWMBLI had previously funded FRP to pilot a tool lending library. Followin8 Its success and reflecfjng their ongoing commitment to the project. WMBL funded the operations with a two-year grant from January 2022. The Postcode SocietyTrust awarded a grant that enabled us to replace our van with a much more efficient and greener vehicle- making our operations more financially and environmentally sustainable going forward. The North London Waste Authority funded a textile recycling project and other partners also contracted us to provide attivities (other than through restricted grants) and increase the impact of our work- some of them described in the report above. We are extremely grateful to all those who fund FRP to deliver work to our mutual aims. In addition to grant income, activities for generating funds in the 2021-22 financial year bounced back up from prior year levels to 87% of the principally pre-pandemic 2019-20 level. FRP has worked hard in recent years to make significant positive cultural and operational changes at all levels, to both improve our finances and build on existing beneficiary outcomes. We have a range of incorne generating activities. allowing us to work with a variety of partners and reduce our financial risk, alongside successful and ambitious grant fundraising. Developing further income streams and partnerships is an ongoing priority within our organisation. as we look to the future. Reserves Policy and Reserves Posltlon It is the policy of the charitable company to maintain resep4es of the charitable company at a level to provide sufficient funds to cover unforeseen circumstances. The Reserves Policy of the company, as reviewed and updated in 2018 by the trustees Idirettors), and reconfirmed since, is that the trustees maintain that it is appropriate to maintain free reserves of approximately 3-6 months of overheads. The important aim at this juntture was to build reserves up to comfortably within the target range. and to actively work towards this by diversifying and building income sources. 16
In 2017-18 the free reserves at year Ènd were £220, in 2018-19 they were £12,133, in 2019-20 they were £66,550, in 2020-21 they were £101.547 - the achievement of the reserves that we set out to build, for the security of the charity. at between 3 and 6 Months of running costs. Thi5 year we have sustained our reserves within our policy in spite of the challenges, closing the year in March 2022 with £108,606 in reserves. This is alongside all of the charitable activity and environmental impact, as described in this report land in previou5 years). It allows us to 80 forward in on8oingJJncertain tlmes, in terms of income flurtuations and the unknown further efferts of the pandemic, with security for the charity and its work. We are immenselygrateful to all of our staff. volunteers and supporters for enabling FRP to achieve thi5 reserves position in recent times. and proud as trustees that we have worked with them to guide the charity to thi5 Position of much greater security and prospects for the future. Investment policy The main objettives of FRP'S Investment Polici are: to ensure that the funds at FRP'S disposal are managed effectively, to meet the operational needs of the charity, and to reduce liquidity risk. FRP also has a financial objective to increase income generating activities to provide increased financial stability and opportunities to expand our work. The Trustees of the charity are responsible for making decisions regarding investment matters. FRP is currently operatine with a surplus. but is reliant on grants to fund much of its expenditure. There can be uncertainty over grant income and the timing of cash receipts, as well as on the availability of grants in future. and therefore it is important that assets are readily available to fund operations in times of uncertainty. FRP currently holds assets in cash where possible to fund operations. There are currently no non-cash investments and no surplus assets that the dirertors deem available for investment at this time. Cash is held in readily accessible current accounts. In such a case in the future that working capital substantially exceeds the needs of FRP, the investment policy will be reconsidered by the Board of Trustees. If and when this happens, the risk appetite, investment type. decision hierarchy. and investment mana8ement will all be considered and defined. Risk Management The trustees {directorsl are aware of their obligations to make a statement in respect of the management of risks faced by FRP. The trustees regularly review potential risks associated with the charity's activities and the following risks are currently identified: Finance The key risks facing the charity, especially in the current economic tlimate. relate to income generatlon. We have been building and diversifying our sour5 of income in order to manage this risk and we are working on building our earnings a5 a priority. alongside grant funding. We are really delighted to be in receipt of a current grant from The National Lottery Community Fund to support our core work with volunteers and recycling, and to have been eligible for retail premises lockdown grants la range of Local Restrictions Support Grants and Closed Businesses Lockdown Payments) from the govemment in the 17
course of the past two years. At the time of writin8, we are very pleased to report that FRP ha5 received a further National Lottery Community Fund grant to take forward our Green Champions programme in 2022-26. We have meanwhile achieved and sustained our important goal of holdinB at least 3 months. running costs in reserves to underpin the future work of the charity. We have a new strategy prepared as we go into the new financial year. and a high priority of this in 2022-23 will be to further develop our Retsil Strategy. so as to fvrther secure the financial position and strategic potential of the charity. Inflatfon and Rlslng Costs Th'is has been added to our risk register in 2022 to reflect the rising rates and projections of inflation and especially fuel and other energy costs at present. These will Impact us directly through our runnlng costs. increased prices as the costs of our suppliers increase and also the impact of rising costs of livin8 on our staff team. In early 2022 we reviewed and adjusted Salaries in li8ht of this- and may need to do so again. Careful financial management is in place with frequent review of bud8et and expenditure. and we are grateful for the financial expertise of our treasurer and the governance work of our board supplementing the work of the staff team in this regard. We are also mindful that our community and our volunteers will often be experiencing challenges and worries in this area. FRP is committed to supporting staff, volunteers and community as best as we are able and will review the impact5.of the situation on a regular basis. Covid-19 The covid-19 crisis and accompanying lockdowns have represented many risks to FRP, as to the whole community in which we operate. We have had to close our retail outlets for a porrion of the financial year, representin8 a loss of all retail income in that period. and to this end we are enormously 8ratef ul to our other funders and donors who bolster our position as a charity. Staff and their families are at risk from the virus. and from the challenges and stresses that the new situation has brought, and we have been doing everything that we can to support them. Our volunteer programmes have had to temporarily close more than once. with us seeking to offer support to each volunteer and Green Champion remotely, and put virtual training and meetups in place for all those who wish to join them. Throughout 2021-22 we continued to assess for risks and put S3fety measures in place. following all guidelines and recommendations. to continue to look after staff. volunteers and those that visit FRP and make sure that our work can continue as safely as possible. The risks around covid-19 continue to be under careful consideration goingforward. Health and Safety All staff receive up-to-date Health and Safety training. and we undertook a thorough review of our Health and Safety policies and procedures in 2020, implementing a number of improvements at that time. In this financial year. we have continued to do a lot of work on Health and Safety around covid-19. including regular risk assessments and reviews. checking and following of guideline5, extra trainin8 for staff and a range of new protocols. In late 2021 and early 2022, we updated First Aid training for staff members through the British Red Cr055. meaning we have updated knowledge as well as five qualified first aiders in our small team and across our sites. 18
Safeguarding of vulnerable adult service users and our stsff members" All staff have undergone safeguarding training and FRP has invested in an employee support programme with Education Support Partnership, which provides mental health and wellbeing support face-to-face and over the telephone. We have updated our safeguarding policy and will continue to review this regularly. We undertook a thorough review of our Safeguarding Policy and Procedures this year and trained the staff in..them. GDPR Training has been undertaken by senior stsff and the appropriate polities are in place. These policies are reviewed regularly and will be updated when appropriate. Liabilities FRP'S operational work sometimes necessitates the disposal of paint which is unusable for re-sale. This paint poses a liability risk to FRP. FRP has steps in place to reduce the collection of unusable paint in the first instance. Procedures are also set up to ensure the disposal of any waste paint is appropriate and as environmentally friendly as it can be. Employees FRP strives to be an equal opportunities employer and applies objectlve criteria to assess merit. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, colour, nationality. religion. ethnit or national origin, gender, marital status, sexual orientation or disability. Selection criteria and procedures are in place to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities. All employees are given equal opportunities training to enable them to develop their skills and knowlèdge. FRP is committed to a programme of action to make this policy effettive, and brings it to the attention of all employees. FRP is extremely grateful to its team of employees for all their excellent work. Contribution by. and appreciation of, supporters The Trustees appreciate the support of all FRP'S funders. partners and supporters, as well a5 the dedicated staff team and volunteers. Independent examiner Waqas Hussain ACCA has been appointed as independent examiner for this accountin8 period. Small company provision5 This report has been p'repared in accordance wtth the provisions applicable to comparties entitled to the small companies. exemption. 19
Registered office: Signed on behalf of the tnistees 2c Bakers Avenue Walthamstow London E17 9AW Mona Vakil Chair of Tntstees. Treasurer and Director 20
Independent examiner's report to the trustees of Forest Recycling Projert Limlted I report to the charity trustees on my examination of the accounts of Forest Recycling Project Limited I'the Charity'l for the year ended 31 March 2022. Responsibilitles and basis of report As the Charity's trustees (who are also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the account5 in accordance with thc requiremcnts of the Companies Act 2006 ("the 2006 Act-l. Having satisfied myself that the accounts of the Charity are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Art 20111.the .2011 Act,). In carryin8 Out my examination I have followed the Direction5 given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement .1 have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2CK)6; or the accounts do not accord with such records- or the accounts do not comply with relevant accounting requirements under section 396 ofthe Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination.. or the accounts have riot been prepared in accordance with the Charities SORP {FRS1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name: Waqas Hussain FCCA Address: 10 Knebworth Avenue. Walthamstow. London. E17 5AJ Date: 2011112022 Signèd: 21
Forest Recycling Projert Limited Statement of FiDancial Activilles For ¢h¢ year ended 31 March 2022 2022 2021 ote Unrestrieted Funds Fmnds Tot8J Fund Total Fuiids INCOMIPIG RESOURCES Incoming resources from geDtrated fund$ Voluntsry Inr- graThts & donations ¢iiviti¢s for Generating Fund Investment Income 144.935 14,597 73.197 33 159.532 73,197 33 183.943 32,481 34 TOTAL INCOMING RLSOURCES E44.935 87.827 232,762 216,458 RESOURCES EXPENDED Fundraising C05t5 Charitable Aetiyities" GovernATr¢¢ Costs 144.935 77.935 750 222SIO 750 180,711 750 Totsl Resourc Exwded 144.935 78.685 223,620 181,461 Net Incoming Re50urf¢s - Net Income for the Yur 9.142 9,142 34.997 Totsl ai the stsrt of the year 101.547 ioi Tolal Funds at the end of th¢ year 110.689 110.689 101547 .Tbe statement of fuwKiai a¢tivitTres incllldes all 8ains.alld10s5e5 in the yeaT. All of the above amounts relate to continuing activities.
Forest Revffjllw ProJert Llmlled Statement of FiD2lleial Positio•. 31 Ma 2022 2022 2021 Fixed Tangible fixed ¥55ets 11083 Cyrrent assets ' Debtors & PEep#yments Bank & Cash at h4Dd 15,694 I,736 15.632 98,703 Creditors: auÈowts fa]liogdue wfthiti 0e yetr (17.824) (12.7881 Net ¢urreDt ass¢ts 110.689 101,547 Crediiors.. arnounts fallingdu¢ after more than one year assets 110,689 101.547 Funds G¢D¢ral Fun(ts 110,689 101.547 110,689 101,547 For the year end¢d 3 l March 2022 the charity entnled io exemption from audii under sectton 477 of the Companies A¢1 2006 relatt.ng to small c¢)rnpatiies. The m¢mbers have not required thc charity to obtain an alldii of tts accounts f(* the year iti question ID xcordance with seuioo 476. The DiTectors aCk[WICdge th¢tr respoDsibilitie5 for comptytng with the twiirryrKnts of the Aci Wkth rtspttt to accouniing rorth and the prepavation ol&coun These ¥counts h8Ve tttn Prepared in a¢cordan¢¢ with the.prnvisiotis applicable io small companies subieci to the small companies regime and in accordance with FRS102 SORP. Th¢5e fInla1 statemeDts were appmv¢d by the Mernber5 of the fv)ard of alld wjthorised for issue oft the 25th Nov¢mber 2022 and are signed on their behalf by: Mona Vakik Chair of the Tryst Trtasurtr Direetor
Forest Rtcyclln8 Prwt Limited Th¢ financial stsl¢znent5 have been prepar undcr the historical cost fODvention. aDd.in Compliance with 'The Financial Reporting Stsndard appliubl¢ in thc UK and Republic of Ireland, (FRS 102), the Stsiement of Recomrnended Practice.. Accounting and Reporring by Chariiies preparing their accounts in accordance with . FRS 102 {Ch3rities SORP) and the comp1¢5 Act 21N. There h4s teen no ¢hange io the accouTJtillg policie5 (valuation rules and methcmjs of accountingl sioce1oSt year. (b) Leg•1 Status Foresl Recyclin8 Projeci Limit&1 is a registeNI ¢haTity and a Convoy limited by guarantee and has no share rApital. The liability of each member in thc cveni of a winding4w is limited to £1. {¢) Goillg Co¢tr There are no material uncertainties aboul the charity's ability to ¢Ontiiiue (d) Fnd A¢¢ounting- restrftled gnd llmrestrieted funds - Unrestricted funds are those wlKre there are no exte¥Ily imp)sed re¥trictions and are availuble for use at the discretion of ihe trust¢¢s in furtheran¢¢ of the general obje¢tives of the charity. - Restricwd fun.ds are subj#wi to restri¢iions oD"th¢ir exwiditw¢ imposed by the donor or through the tern of an appeal. le) Inttsming resowrees All incoming re50UTCts are includ¢d in the statemcnt of financial activities when the charity is entitled to thc income and the arnount can bc quantifjed with Teasonable accuracy. The following specifi¢ poli¢ic5 are applied 10 partieula¥ ¢aLegori¢s of income". Volutttsry itLCOtne is rec¢ived by way of grants. don8ts.olls and gifts and is iticluded in full in th¢ Siaicmenl of Fioaoctal Activities when rec¢ivable_ Grants, where eniitl¢ment Is not CO"tiOnal OD the delivery of a splfIe perforEnanee by the charity. a OgnISed when the charity becomes unconditiooally entitled to the grani. Dollated services aTKI faciljties are inclwkd #t the value to the chity where this can be quantified. The vAlue of Services provided by voluLteeT5 ha5 not been ill¢luded in these toUn - Investment incom¢ is included wh¢n receivable. - ID¢oming rKources from charitable trnding activity ate accoullted foi when eamed. - Inconkill8 Tesour¢es from grdnts, where related ts) perfotmanee and d¢livernbles. are accoutttrd for as the ¢harity eams the righi LO consideration by tts perf0Mn¢t. (Q Res•urees expended Expendittire is recognis•J OD On accnjals basis as a liability is irKurred. Expendittre any VAT which eanttot be fully recovered. and is reprted as part of the expenditure which it laS.. - Costs of generatin8 fijnds compTise the C4)sts associated with attrncting voluntsry irorne and the costs of tradtng for fiJndrai5in8 purwises. Charirable expenditur¢ ¢(NnpTise5 thos¢ ¢osts inellffed by th¢ charity in th¢ d¢livery ot its acthvities and servi¢¢s for ils kneficiari&s. 11 includes knth Costs that ¢an be allLUttd directly to such activtti¢5 and those costs of an irtdj.reci naiure n¢c¢ssary io sypport thetD. - Governancc costs include those costs as5]11ed with rneeting ibe constilutional and statOry requirements of the charity al include the audit or examinaiion costs. and costs l]nked to the straw¢ moDagement of ihe charity. - All costs are allocated between the eXdit categones of the StsttTnent of Financial"Activities (SOFA) on bas¥s de$igDed to rtflect the use of the resource. Costs lating io a particular acrtvity are allocated dtrectly, othtTS are apTm)rti0n on an appropriate basis e.g. staff by lime spenL per capits or ¢51imaied usag¢ as set out io the noles to tbe accounts. (g) Fixed assets Fixed assets are sr•ied at a7St less UMulated dtyre¢is00. Depreciation is ¢ai¢ulated to WT1 off the st of fixed &ssets less their estimated r&%idual Val over their expected usefvl life on tbe followitsg basis.. 0]¢¢ equipEnent". 25°h stsaight line. Vehicles.. 33.3% straight line ACCOUNTING POLICIES (continmed)
Forem Recycllni Projert Limlted Ib) Operating lease agreemeDts Rentsls payable under operating Ies. WIre substaniially all the risks and rewards of own¢rship r¢mabn with the lessor. are char¥ed 10 the stem¢t of fwancial activities on a Strdighi line basis over the life of ihe leas¢. {il C85h at bank 4nd in h•od Cash at bank and in hand includes Cash aThJ short terni highly liquid investh)¢nts with a short rnaturity of three months or less from th¢ dat¢ of acquisitioTh A)r openillg of the de[l"t accounL li) Debtors Trade and other debtots we tecognised at the s¢tt]¢m¢ni amouDt due after any trade discount offered. Prepaymenrs are valu¢d at ihe amount prepaid after kIng accoun¢ ofany tnde diSuts due. {k) Cr¢d¢tor5 amd PrDvi5iOllS CreditOTS and provisions ar¢ recognised where the charity ha5 a pre5eni obligatioD resulting from a past ¢vtnt that will probably result ID the transfer of funds io a third party and the amouTht due to settle the obligation caD be measured or estimated reliably. CredLiOYS and PTOV15ions noMllY reCOlSed ai their settlemeni amount after aUowin8 for any trade dtscouDts thie. TOTAL INCOMING RESOURCLS 2022 Total 2021 Ttstsl VoIunt*ry Income Grxnts & Don8ti0Th$ Tbe Naiional Lottery Community Fund- Grem Champii)n$ William Morris Big Lo1 - Walihamstow Tool Libtary The Postcode Society Trust- New FliTr Van UK Governm¢ot Covid lS UK Govemmen¢ Kicksrart grant Nojkn London Wa5t¢ Autlxjriry. Let There Be Ligbi Donations i0iJ68 21520 17,0110 6.667 6,21)6 4.547 1,724 116,3l7 3,344 60,479 3,803 . Total Vvl¥tttsry ltt¢oth¢ 159 3Z 3. RESOURCES EXPENDED . Chariljble expenditsre 1022 2021 AthnÈnistratioo and otTi¢¢ nnIng costs Project and direct costs Premises ¢OSLS Staff and volunieer costs 19.185 17,103 40.492 14A09(J 15.699 7,957 30,985 126,070 Governance Costs Independent Examinerfs ftes 750 750 Tornl Costs 223.620 181,461 4. NET ENCOMING RESOUR
Forest Recycllng Prolert Llnthd 2022 2021 ThLS 15 Stat¢d after charging-. Retsials under opcraihng l¢& lodepend¢ni Exarninees Fees 24,846 750 24,846 750 5. STAFF COSTS AND EMOLUMEIYTS Totsl $tsff eosts were as foUow$: 2022 2121 Gross pay Social Security costs 136,931 7,831 118,864 6,735 144,762 125.599 No employtt received ¢molwD¢Dts of more than £60.(KM) in thi.s 01 the prtvious year. None of the TnLsiee$ received aDy rernuDeration duEiU8 the year. (2021". NII) 21122 2021 Averdge numbtt of employets dunng the year was: O. TANGIBLE FIXED ASSETS Vebicle Equipment Total Cost: At l April 2021 Additions At 31 March 2022 25.744 . 25,744 Depreci4tion: At l April 2021 Charge for lh¢ year Al 3 1 March 2022 25.744 25,744 2.917 28,661 Net book Y#lthe: At l April 2021 At 3 1 March 2022 7. DEBTORS AND PREPAYMENTS 2022 2021 Trade debtors Other debtors and Pre4)ayments 5934 9760 15.694 5,702 9,930 15,632 8. CREDITORS Amouttts f•liing d¢ within one year: 2022. 2021
Forest Retydlng Prolert Llrnlted Trade ¢r¢diLors Othcr creditors and a¢¢nlS VAT control Deferred grants 2.018 2,213 2,593 l i,O(M) 12.525 263 17,824 12,788 9. ANALYSIS OF MOVEMENf IN FUNDS Totsl Funds At l April 2021 Outgoing Trnnsfers At31 Mreh 2022 Analysis of Movenxnl In FuDd5 Restricted Funds William Morris Big Local The National Lttery Comrnunity Fulld Postcode Society Tn1 North London Waste Authoriry Total Restritted FuTrds 21.520 121,520) 101.868 (101,868) 17,(KK) 117,000) 14,547 144,935 144.935 Unrestri<ted General Total Unrestricted Funds 101.547 101,547 87.827 87.827 (78.685 78,685 110.689 Total Funds 101.547 232.762 23,620) 110,689 Tbe Nti•ttl Lttery Fund- Greell Chthploth$ The National tATrttcry Comrnunity Fund was a rethricted grdnt for the FRP Green Champions pmject.. Willi#rTr Morris Big LK•l- Waltbam510w Tool Llbr*ry The William MO•S P-ig Lo1 grant Wa5 a r¢51rictd.grant for development and delivery of Walibamstow Tool Library. Posieode Soelety Trnst- New FRP The Postcode Society Trust grant W&5 a fEStricted bryanr for purchasing alxtter. greener van for FRP operation5. North i•ndoTr Waste Authority- Let There Be Light The North London W&%ie Authority grant was a restricted grdnt for delivering a textile Tecycling Commurtity project called 'Lei Ther¢ B¢ Light,. 10. DIRECTORS AND RELATED PARTY TRANSACTIONS There were Do pymeots made dwing tb¢ year to Directors a] reled p¥rtie5 (2021.. niD.