ECOSYSTEMS KNOWLEDGE NETWORK
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Charity Numbers: 1159867 (England and Wales) SC045732 (Scotland)
ECOSYSTEMS KNOWLEDGE NETWORK
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
| CONTENTS | PAGES |
|---|---|
| General information | 2 |
| Trustees’ Annual Report | 3-4 |
| Responsibilities of the Trustees | 5 |
| Independent Examiner’s Report to the Members | 6 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10-13 |
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ECOSYSTEMS KNOWLEDGE NETWORK
GENERAL INFORMATION
Registered charity name Ecosystems Knowledge Network Charity number 1159867 (England and Wales) SC045732 (Scotland) Principal & registered office address Isis Innovation Centre Howbery Park Wallingford OX10 8BA
Trustees Jonathan Porter Susan Christie Lyndsey Dodds Sarah Chimbwandira Accountants SPX Oxford Ltd Peace House 19 Paradise Street Oxford OX1 1LD Independent examiner Sheila Parry FCCA Bankers Co-operative Bank Ltd.
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ECOSYSTEMS KNOWLEDGE NETWORK
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and the unaudited financial statements of the Charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of general information on Page 2 of the financial statements.
THE TRUSTEES
The trustees who served the charity during the year are shown on Page 2. There were no changes to the Board.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity has been managed and operated in accordance with the Constitution for the Ecosystems Knowledge Network as a Charitable Incorporated Organisation, dated 30[th] October 2014. The constitution has been subject to one amendment, namely to the addition of paragraph 15 (4) (d), dated 30[th] September 2015, which specifies that a telephone conference will constitute a properly convened meeting.
During the reporting period, there were no changes in the composition of the Board of Trustees. The Network has been operated by two part-time staff, led by Bruce Howard.
FINANCIAL REVIEW
Ecosystems Knowledge Network has reported a surplus of £28,854 for the financial year 2020 to 2021. Within this, it has re-established reserves in accordance with its policy of holding three months of operating costs.
The Covid-19 pandemic impacted the operating capacity and income of the organisation. As part of cost-control, the Director (most senior staff member) agreed to go on furlough in spring and summer 2020, using HM Government’s Coronavirus Job Retention Scheme. During this time, the Board of Trustees maintained baseline operations for the charity with a part-time junior self-employed staff member. A Covid-19 resilience grant received from the John Spedan Lewis Foundation in 2020 played a very important role in enabling the organisation to deal with the immediate impact of reduced income and in restoring full operations from autumn 2020. As a result of the Covid-19 pandemic, the Ecosystems Knowledge Network has increased its skills in the delivery of high quality learning opportunities online.
During the year, the Ecosystems Knowledge Network continued to provide a range of knowledge sharing opportunities in accordance with its charitable purpose and its Five Year Strategy (2018 to 2023). This included the provision of e-news and webinars. Membership of the Network remains free and open to all, and comprises over 2,500 professionals and volunteers throughout the UK and beyond. The Network accepted several pieces of commissioned work that align with its mission. It also organised an online Natural Capital Finance & Investment conference, which attracted over 1,000 delegates and has been highly influential in advancing the emerging field of nature-based finance in the UK.
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ECOSYSTEMS KNOWLEDGE NETWORK
PUBLIC BENEFIT STATEMENT
In exercising their powers or duties, Charity trusties have complied with their duty to have due regard to the guidance on public benefit published by the Charities Commission for England and Wales.
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ECOSYSTEMS KNOWLEDGE NETWORK
RESPONSIBILITIES OF THE TRUSTEES
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable incorporated organisation and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINATION
The nominated independent examiner will be considered by trustees for re-appointment for the ensuing year.
Signed on behalf of the trustees
……………………………………..
Date ……07/11/21……………….
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ECOSYSTEMS KNOWLEDGE NETWORK
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF ECOSYSTEMS KNOWLEDGE NETWORK
FOR THE YEAR ENDED 31 MARCH 2021
I report on the accounts of the Charity for the year ended 31 March 2021, which are set out in pages 8-13.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of
A] Scottish legislation:
the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation [10(1) (a) to (c)] of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
B] England and Wales regulations:
The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention.
Basis of independent examiner’s statement
A] Scotland
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. B] England and Wales
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
SPX Oxford Limited provides bookkeeping services to Ecosystems Knowledge Network and I am an employee of this company. In order to maintain independence, I confirm that I have not been involved in provision of the bookkeeping service.
I also confirm that as a member of the Association of Chartered and Certified Accountants, I am subject to the provisions of the FRC’s Revised Ethical Standard (2016). This standard has been applied throughout this independent examination.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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ECOSYSTEMS KNOWLEDGE NETWORK
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which gives me reasonable cause to believe that in any material respect the requirements: a] Scotland
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and comply with Regulation [8][2] / [9][3] of the 2006 Accounts Regulations;
b] England and Wales
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to keep accounting records in accordance with section 130 of the 2011 Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 2006
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Simrit Sandhu FCCA
Date……10 Dec 2021………
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ECOSYSTEMS KNOWLEDGE NETWORK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Notes Income from: Charitable activities 3 Other income Total income Expenditure on: Charitable activities 4 Total expenditure Net income / -expenditure Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forwards Total funds carried forward |
Total 2021 £ 100,442 28 100,470 71,616 71,616 28,854 - 28,854 - 3,778 25,076 |
Total 2020 £ 113,683 3,302 |
|---|---|---|
| 116,985 | ||
| 115,475 | ||
| 115,475 | ||
| 1,510 - |
||
| 1,510 | ||
| - 5,288 | ||
| - 3,778 |
All funds are unrestricted
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.
The notes on pages 10 to 13 form part of these financial statements.
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ECOSYSTEMS KNOWLEDGE NETWORK
BALANCE SHEET AS AT 31 MARCH 2021
| Notes FIXED ASSETS Tangible Assets CURRENT ASSETS Debtors 7 Cash at bank CREDITORS:Amounts falling due within one year 8 NET CURRENT ASSETS NET ASSETS FUNDS INCOME FUNDS Unrestricted Income funds 9 Restricted Income funds 10 TOTAL INCOME FUNDS |
2021 £ £ - 27,613 22,803 50,416 25,340 25,076 25,076 25,076 - 25,076 |
2020 £ £ - 23,530 - 5,112 18,417 22,195 - 3,778 - 3,778 - 3,778 - - 3,778 |
2020 £ £ - 23,530 - 5,112 18,417 22,195 - 3,778 - 3,778 - 3,778 - - 3,778 |
|---|---|---|---|
| - 3,778 | |||
| - 3,778 - |
|||
| - 3,778 |
For the year ended 31 March 2021 the charity was entitled to exemption from audit under section 145 of the Charities Act 2011.
Trustees responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 145; and
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the members of the committee and authorised for issue on 07[th] Nov 2021 and are signed on their behalf by:
………………………………..
Trustee
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ECOSYSTEMS KNOWLEDGE NETWORK
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. ORGANISATION STATUS
Ecosystems Knowledge Network is a Charitable Incorporated Organisation.
2. ACCOUNTING POLICIES
Basis of accounting
The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014, as updated by Update Bulletin 1 issued on 2 February 2016, with the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
The financial statements have been prepared under the historical cost convention 2015 (SORP 2015), ‘Accounting and Reporting by Charities’, issued by the Charities Commission.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Income
All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Fixed assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment – 25% straight line Computer equipment – 33% straight line
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure represents amounts invoiced, including value added tax.
Taxation
The Charity is exempt from corporation tax on its charitable activities.
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ECOSYSTEMS KNOWLEDGE NETWORK
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
3. INCOME FROM CHARITABLE ACTIVITIES
| Grants and project income Events and training |
Total Funds 2021 £ 94,156 6,286 100,442 |
Total Funds 2020 £ 52,381 61,302 |
|---|---|---|
| 113,683 |
4. EXPENDITURE ON CHARITABLE ACTIVITIES
| Administrative expenses Salaries Employer's NI Pension contributions Subcontracts Professional fees – operations Office rent Advertising and marketing Accountancy fees Bank charges External event fees Information technology Insurance Office management Printing and publicity Room hire and catering Staff training Subscriptions Telephone, internet and postage Travel and subsistence Governance Total charitable activities |
Total Funds 2021 £ 36,265 - 3,064 2,160 9,459 - 2,138 2,785 294 4,699 6,591 515 201 1,978 - 132 60 492 483 300 71,616 |
Total Funds 2020 £ 37,779 626 2,959 4,329 23,443 8,138 - 2,575 976 384 2,974 418 1,122 5,807 15,307 - 127 566 7,646 300 115,475 |
|---|---|---|
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ECOSYSTEMS KNOWLEDGE NETWORK
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
5. GOVERNANCE COSTS
| Independent Examination fee 6. STAFF COSTS Wages Social security costs Pension contributions |
Total Funds 2021 £ 300 300 2021 £ 36,265 - 3,064 39,329 |
Total Funds 2020 £ 300 |
|---|---|---|
| 300 | ||
| 2020 £ 37,779 626 2,959 |
||
| 41,364 |
The average number of staff employed during the year was one. No employee received any pay or benefits in excess of £60,000 in either year.
7. DEBTORS
| Accounts receivable Other debtors Prepayments |
2021 £ 27,614 - - 27,614 |
2020 £ 22,129 - 1,401 23,530 |
|---|---|---|
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ECOSYSTEMS KNOWLEDGE NETWORK
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
8. CREDITORS
| Taxation and social security Wages payable Income received in advance Refunds for cancelled events Other creditors Accruals Loan |
2021 £ 867 1,890 16,645 - 5,140 600 198 25,340 |
2020 £ 2,185 1,890 2,250 825 9,522 5,440 84 |
|---|---|---|
| 22,195 |
9. UNRESTRICTED INCOME FUNDS
| Total funds | Balance at 1 Apr 2020 £ - 3,778 - 3,778 |
Incoming resources £ 100,470 100,470 |
Outgoing resources £ - 71,616 - 71,616 |
Transfers £ - - |
Balance at 31 Mar 2021 £ 25,076 |
|---|---|---|---|---|---|
| 25,076 |
10. RESTRICTED INCOME FUNDS
There were no restricted income funds during the year.
11. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS
No member of the board of trustees received any remuneration for their trustee role during the year. There were no related party transactions during the year.
12. REMUNERATION AND BENEFITS OF KEY MANAGEMENT PERSONNEL
The key management personnel of Ecosystems Knowledge Network are the Trustees and the Director. The Trustees receive no remuneration. The Director’s remuneration totalled £32,302 during the year (2020: £35,836).
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