Company Registered Number: 07613369 Charity Registered Number= 1161019 EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee} TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
EMPOWER COAqMUNITY FOUNDATION (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Foundati(, its Trustees and Advisers Trustees. Report Trustees. Responslbilities Statement Independent Auditorfs Report on the Financial Statements 8-11 Consolidated Statement of Financial Activities 12 Consolidated Balance Sheet 13-14 Foundation Balance Sheet 15 Consolidated Statement of Cash Flows 16 Notes to the Financial Statements 17-38
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE FOUNDATION. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees A Grayson. Chair MPrtt H Kote¢ha Company registered number 07613369 Charity registered number 1161019 Registered office 10 Queen Streel Plxe London EC4R 1BE Independent auditor MHA Mxlntyre HjsOn Colchester Business Park 910 The Crescent Colchester Essex C04 9YQ Bankers Triodos Bank UK Deanery Road Bristol BS1 SAS Page 1
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustee5 present their annual report together wth the audrted financial statements d the Foundation for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees. Report and a Directors. Report under company law. The Trustees confirm that the Annual Report and financial statements of the Ghafitable c(xnpany compty wrth the cuThent statutory requirements. the requirements of the charitable company'5 governing document and the provlsions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordarice with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Since the Group and the Foundatson qualfy as small under section 383 of the Companies Act 201. the Group Strategic Report requiTed of rnedium and large ccrtnpanies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been om"tted. Objectives and activities . Policies and objectives The Group aims to have a demonstrable imp&1 on causes falling Nwthin the Empower C¢xnmunty Foundation's (ECF) objects. The Group and Foundation's key obJ"ective for the year was to t as a Trustee to the local community funds whth are due to be received frcxn projects where the Group and Foundatson has an Inte1. The projects mainly comprise fulty operational and validated solar PV systems which a owned and operated by a spec1 purpose vehicle. ECF administers and oversees the financial management and allocation of surplu5 revenue share from projects in favour of cCmUnrtles where the projects are undertaken. in nsuMation wth a Local C(Jnmunty Fund Panel for the rooftop portfol and via the relevant Communty Foundation in the case of the Clc-based solar parks (see below). ECF'S objects have been desgned to allow maxinum fiexibifty for each localty to make its t)wn decisions in relation to best application of support for that area. broadly in favour of prqects vthich wll reduce or reverse negative social andlor environmental impacts in the IcKal communty. In settj'ng objethves and planning activrties, the Trustees have given due consKleration to general guidance published by the Charty Commission relating to public benefrt including the guidance 'Public benefrt: running a chanty (PB2)'. b. strategtes for achieving objectivés The strategy for period was to implement the obJectNes of the Group and Foundats. and prepare for future surplus funds to be distributed. The principle thal members of the community I(1 to that project are best 8¢ed to identify and recommend the most beneficial recipients and uses of grant funding is embodied in the structure and Tmplementation of the grant making activities of ECF. These are currently the L(Thl Communty Fund Panel for Empower Community Solar 1 LLP (known as 'Empower Sunderland.) and the relationships wrth The Wiltshire Community FOUndOn for Drove Lane Solar Park CIC and Foundab'on Scotland for New Mains of Guynd Solar Park CIC. In each case. ECF Tnjstees review and approve the most surtable recipients of grant funding as recommended by the entty. Page 2
EMPOWER COMMUNITY FOUNDATION {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activities (continued> c. Activities undertaken to achleve objectives The projects have ccfftmenced in the special purpose vehides and the Foundth"on's share of funds are in the process of being received and distributed. In the case of Empower Communty Solar 1, the primary focus of grant making has been the general improvement and energy efficiency of ccfftmunty centres in the Sundedand area. The covid situation has meant that many of these centres, building improvement plans were stalled. so grant making for these activities shd during the period. with a number of smaller grants to wider groups such as fo(xd banks and women's refuges made instead. Unallocated funds have accrued for future grant making. Drove Lane Solar Parf( CIC ded to the Wiltshire C¢ynmunty Foundats'on in support of ts 'Stronger FamIls, programme in Saltsburfs most dePrId vrdrd. New Mains of Guynd Solar Park CIC. via Foundation Scotland. made its annual grant to Voluntary Action Angus for their 'Childfen and Families Buddy Support. programme. Achievements and performance . Key performance indicators Income distributable to charrtable beneficiaries is consKJered to be the key performance indicator. Grants distributed to instrtutions for communty benefil in the year totslled £69,830 (unaudited 2021 - £190:858). with unallocated funds fr(xn one financial year carried over into the next. b. Review of activities Regarding the activrties outlined above, the Trustees are aware of their responsibilty to balance the needs of beneficianes and to award grants to new projects where appropnate and carry forward any unalk)cated grant funds there no surtable recipient has yet been identified. c. Investrnent policy and perfomiance The Foundation is expecting to receive funds in the future to invest in future community projects and for the time ng is donating 100°A of community benefrt furKls e1ved. The investment policy of the Group and Foundalion will be to invest any surplus furKls in interest generating deposit accounts. Further investment policies will be agreed once funds have been received. Further social and ethical considerations which are not outlined in the objects are taken into account as part of the investment polw, as the governing dctument of the FOUndatic does rbot mandate consideration of other matters. Page 3
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Financial review - Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Group and Foundation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further deta'ls regarding the adoptson of the going concern basis can be found in the accounting wlicies. b. Reserves policy The Group and Foundab'on is not currenlty exposed to operational risks of the sort that would require lo be ameliorated by emergency expendrture. The Group aims to maintain a level of reserves in fLrture sufficient to enable its project and donor activities to be undertaken year on year once funding is received. At the year end. there was a deficit in unrestricted funds of £4,271 ,079 (as Trs¢8led, unaudited 2021- £4, 055. 567). While the Gioup is in deficit and made a deficit during year. the eamings before depreciation foi the Group for the year ended 31 March 2022 was £651,901 (as restated, unaijdited 202 1- £4 77, 211). The deficrt is a result of the large caprtal outlay required to inib'alty purchase the solar harvestsng equipment which is being depreciated. Once these items are fully depreciated. the Group Is expected to recover the def1t. c. Financial risk management objectives and policies The potential for grant fraud is acknowledged as being a risk to which the Group and Foundation and similar Charit$, may be subject. It is feft that the extensive due diligence that will be carried ¢xrt on fvture grant applicaticms mitigates against it as strcwly as the Group and Foundation's resources will alk)w. Structure. governance and management a. Constitution Empower Communty Foundatson is registered as a chantable company limited by guarant arKI was set up by Trust Deed. The objeds of the Foundation (Ihe objects'} are: the advancement of environmental protection and conservth.on of the natural environment, pa'CU1arty by pr(xnoting the reduction of greenhouse gases {IlUding carbon dioxide. methane and any other 9ases that may be identified from b-me lo time as having a gbbal warmiry potential): the prevention and relief of poverty, particulaty by the redudM?n of energy bills. through the advancement arKI facilitation of energy efficiency and renewable energy measures.. iii. Ihe advancement of educab'on. particularty in relation to energy, dimate change and environmentsl protection and conservation.. and iv. any other objects which are charitable for the ts'me being under English law. The objects underpin the detection process for beneflarIeS of the communty funds distributed. Page 4
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Structure, governance and management (continued) b. Alethods of appointment or election of Trustees The management of the Group and the Foundab'on is the responsbifity of the Trustees who are elected and CA> opted under the tefms of the Trust Deed. . Organisational structure and decisionwmaking policies The Board administers the Group. A ChEf Executive will be appointed by the Trustees to manage the daY-tdaY operations of the Foundation when and rf requireil. ECF is a deSnated member of Empower Communty Solar 1 LLP and receives the 400h of surplus revenue from it on an annual basis, for grant making in the Sunderland communty- ECF is the benefic1 owner of Drove Lane Solar Park CIC and New Mains of Guynd Solar Park CIC and receives income by donation for distnbution to the commUnitS local to each communty. as well as potential for future investment in rFew projects. d. Policies adopted for the induction and training of Trustees Trustees are recruited following recommendats.ons fr(xn existing Trustees and after ConSeration of the exists'ng Board's requirements. The Trustees are appointed under the Trust Deed. wrth a minimum of three Trustees. The Trustees undertake appropriate trainirtrg and induction under thwr terms of reference. Mth an expened Trustee as a mentor. There are currenty no Trustees to mduct and training for Trustees is maintained through Charity Commission updates. . Pay policy for key management personnel The Trustees comprise the key management personnel of the Gn)up and Foundation and are in charge of controlling, running and operating the Group and Foundation on a daY-tdaY basis. All Trustees give of their "me freely and received Tr) remuneration for the year arKI no Trustee expenses tre incurred. f. Related party relationships None of our Trustees received Muneration or other benefits fri)m their work with the Group and Foundab'on. The Foundation is expecting to receive funding in the future from the related entities to accumulate for future reinvestment and distnbution as charrtable grants. g. Financial risk management The Trustees have assessed the major risks to wthich the Group and the Foundation are exposed, in parbcular Ihose related to the operations and finances of the Group and the F(ndaknon, and are satisfied that systems and prOdureS are in place to Mrtate exposure to the major rks. Page S
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Structure, governance and management (continued) h. Principal activlties The principal actiwty during the year was that of the advancement of envrronmental protection and ¢onservation, improvement of community spaces. reduth'on of energy costs arAI advancement of education. Plans for future periods The Group and Foundation plans to increase and devekjp its level of operats'ons as ts related entities evolve. Disclosure of infomiation to auditor Each of the persons who are Tfustees at the time when this Tnjstees. Rep(Kt is approved has CrirMed that: so far as that Trustee is aware. the ts no relevant audrt informats.on of which the charitable group's audrtor is unaware. and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of any relevant audit infomaiion and to establish that ttE charitable group's auditor is aware of that information. Auditor The auditor, MHA Maclntyre Hudson, has irKlicated his willingness to continue in office. The des#3nated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. Approved IV or er of the Members of Board of Trustees and signed on their behalf by. A Grayso Chair Date: ? I [L5 Page 6
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees (who are also the Directors of the Foundatw)n for the purposes of c(Mnpany law) are responsible fcK preparing the Trustees, Report arKI the financial ststements in accordan wrth applKable law and United Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Pract). Company law requires the Trustees to Pfepare financial statements for each financial year. Under company 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 Group and the Foundation and of their incoming resources and application of resources, including their income and exFendrture. for that perK)d. In prepanng these financial ststements, the Trustee5 are required to.. select suitable accounbng policies and then apply them consistently, observe the methods and princlples of the Charrties SORP (FRS 102): make judgements and accounting ests'mates that are reasonable and PnKlenl: state whether applicable UK Accounting Standards (FRS 102) have been folknved. subject to any malerial departures disclosed and explained in the financBI statements; prepare the financial statements C the g(xng concem basis unless rt is Inappropnate to presume that the Group and Foundation will continue in business. The Trustees are responsft)le for keeping adequate accounting records that are sufficient to show and explain the Group and the Foundation's transactions and discbjse wilh reasonable accuracy at any time the financial position of the Group and the Foundati and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also resnsIble for safeguarding the assets of the Group and the Foundation and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregUlar'es. Approved er of the Members of the Board of Trustees and signed on its behalf by. Chair Date: loi I, Page 7
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) INDEPENDEKf AUDITOR'S REPORT TO THE MEMBERS OF EMPOWER COMMUNITY FOUNDATION Opinion We have audited the financial statements of Empower Cfflimunity Foundation (the 'FoundatK)n') and rts subsidiwES (the 'Group') for the year ended 31 March 2022 which ccfflprise the ConsolKlated Statement of Financial Activrties, the ConsolKlated Balance Sheet, the FourKlation Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including SFgntfLant Xcounting policies. The financial reporting framework that has been applied In their preparation is applicable law and Unrted Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (Unrted Kingdom Generally Accepted Accounbng Pracbce). In our cpinion the financ1 statements: give a true arKI fair leW of the state of tt)e Group's and of the pant charitable companys affairs as at 31 March 2022 and of the Group's incoming resources applL3knon of resources, inclLKling rts income and expendrture for the year then ended: have been property prepared in xcordance wth United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance ¥Mth the requirements of the Companies Acl 2006 and the Charities Act2011. Basis for opinion We conducted our audit in accordance yth Intemational Standards on Audrting {UK} (ISAS (UK)) and applicable law. Our responsbilibes under those standards are further descnbed In the Audilorfs responsibilities for the audtt of the financial statements section of our report. We are independent of the Group In accordance wth the ethical requirements that are olevant to our audrt of the financial statements in the United Kingdom. includirtrg the Financial Reporting Council's Ethical Standard, and we have fulfilled ¢xJr other ethical responsibilrties in accordance with these requirements. We believe thal the aLKlit evthnce we have obtained is sufficient and appropriate to provKJe a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have conckJde4J that the Trustees. use of the going concem basis of accounbng in the preparation of the financial statements Is appropriate. Based on Ihe woth we have perfOed. we have not identffied any material uncertainties tating to events or condrtions that. IndiVuallY or collectNely. may cast swnificant doubt on the Group's or the parent charrtable company's ability to continue as a going concern for a pernd of al least twefve months from when the financial statements are authonsed f issue. Our responsibilities and the ponsibl1.eS of the Trustees with respect to w.ng concern are described in the relevant sections of this repo(L Page 8
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EMPOWER COMMUNITY FOUNDATION {CONTINUED} Other infonnation The other informatton comprises the nforrnatn included in the Annual Report other than the financial statements and our Auditorfs Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any fonn of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wrth the financial statements or our knowledge obtained In the course of the audrt, or otherwise appears to be materialty misstated. If we identrfy such material Inconststencies or apparent material misstatements. we are required to detennine whether Ihis 9ives rise to a material misstatement in the financial statements themselves. If. based on the work have performed, we conclude that there is a material MStatement of this other infotmation, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our winion. based on the worf( urKlertaken in the course of the audrt: irrfonnation given in the Trustees, Report for the financial year for whth the financial statements are ppared is consistent ryth the financial statements. the Trustees, Report has been prepared in accordance with applicable le9al requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charrtable company and tb environmenl obtained in the course of the audi( we have not identif1 material misstatements in the Trustees, Report. We have nothing to report in respect of the folknving matters in relth.on to thieh Companies Act 2006 requires us to report to you if, in our opinion" the parent chantable company has not kept adequate and sufficient accounting records, or retums adequate for our audrt have not been received from branches not visited by us: or the parent charitsble company financial statements are not in agreement with the accounb'ng records and returns" or certain disclosures of Trust*s' remuneration specrfied by law are not made" or we have not received all the infonnation and explanations we require for our audit", or the Trustees were not entitled to prepare the financial statements In accordance with the small companies regime and take advantage of the small companies. exempkn.ws in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Page 9
EMPOWER COMMUNITY FOUNDATION
(A Company Limited by Guarantee)
INDEPENDEIU AUDITOR'S REPORT TO THE MEMBERS OF EMPOWER COMMUNITY FOUNDATION
(CONTINUED>
Responsibilities of Trustees
As explained more fulty in the Ststement of Trustees. Responsibiliti'es, the Trustees (who are also the Directors
of the chantable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satr5fied that they give a true and fair view, and for such intemal control as the
Trustees determine is necessary to enable the preparabon of finan¢kil statents that are free frc¥n material
misstatement, whether due to fraud or eOr.
In preparing the financial statements, Trustees are ponSIble for assessing the Group's and the parent
charitable company's abilty to continue as a going concem. disclosing. as applicable. matters related to going
concem and using the goiry concem basis of accounting unless the Trustees either intend to Iuldate the Group
or the parent chacitable company or to cease operatK)ns, or have realtstic altemab've but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and to Issue an Auditorfs Report that Includes our
opinion. Reasonable assurance is a hwh level of assUCe. but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a matenal misstatement when it exists. Misststements can arise
from fraud or errol and are considered material rf, individualty or in the aggregate, they could reasonably be
expected to Influence the economic decIsnS of usets taken on the basts of these financial statements.
Iiregulariti'es, including fraud, are instsnces of non<ompliance with law5 and regUlatnS. We deSn procedures
in line with our responsibilities. outlined above. to detect material missiatements in respect of Irregularrties,
including fraud. The extent to whth our procedures are capable of detecting irregularrties, Including fraud is
detailed below.
Obtaining an understanding of the legal and regulatcry frameworks that the entity operates in, focusing on
those laNs and regulations that had a direct effect on Ihe financial statements.,
Enquiry of management to identtfy any instances of known or suspected instances of fraud".
Enquiry of management and those charged wrth governance around actual arKI potential IgatiOn and
claims.,
Enquiry of management about any instances of nt)n
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EMPOWER COMMUNITY FOUNDATION (CONTINUED) A further description of our responsibilities for the audit of the financial statemwtts Is located on the Financial Reporting Councifs website at" www.frc.or .uklauditorsres nsibilrties. This description forms part of our Auditorfs ReporL Other matters The consolidated financial stalements of Empower Community FOundatn for the year ended 31 March 2021 were unaudited. Use of our report This report is rne solety to the Group's Members. as a body. in accordance Vth Chapter 3 of Part 16 of the Companies Act 201. and to the Group s Trustees, as a body. Part 4 of Ihe Charities (Accounts and Reports) Regulations 2008. Our audrt work has been undertaken so that we might State lo the Group's Members those matters we are required lo state to them in an Auditor's Report arKJ for no other purpose. To the fullest extent pernitted by law, we do not accept or assume respOnsi11ty to anyone other than the Group and its Member5, as a body. for our audrt vrforf(, for this reporl or for the opinims we have formed. Cara Miller ACCA (Senior Statutory Auditor) for and on behalf of MHA Maclntyre Hudson Statutory Auditor Colchester. Unrted Kingdom Date". 31 January 2023 Page11
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 PAARCH 2022 As stated Unaudited Total funds 2021 Unrestricted funds 2022 Total funds 2022 Note Income from: Donations Charitable activities Investrnents Other inccffie 17.$00 2.651.057 soo 17.500 2,651,057 500 2,538. 657 279 3.232 17.998 17,998 Total incorne 2,687,055 2,687,055 2, 542. 168 Expenditure on: Charitsble acb'wti'es 2,902,567 2,902.567 2,932.816 Total expenditure 2,902,567 2,902,567 2,932,816 Net movement in funds (215,512) {215.512) (390, 648) Reconcillation of funds: Total funds brought forward Net movement in funds {4,055,567) (4.055,567) (3, 664, 919) 1215,512) 1215,512> (390. 648) Total funds carried forward (4.271,079) (4,271,079) (4, 055,567) The ConsolKlated Statement of Financial Activities indudes all gains and losses recognised in the year. All income and expendilure derives from conts'nuing actp4ities. The notes on pages 17 to 38 forni part of these financial statements. Page 12
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 07613369 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022 As Trstated As stated Unaudited Unaudited 2021 2021 2022 2022 Note Fixed assets Tangible assets Investments 13 14 13.501,312 100 14,365.574 100 13,501,412 14.365.674 Current assets Debtors Cash at bank and in hand 15 745,542 2,430,060 471,011 2,439.201 3,175.602 2970,212 Creditors: Amounts falling due within one year 16 (6,013,497) (5. 715, 170) Net current liabilities (2,837,895) (2, 804, 958) Total assets less current liabilities Credrtors: Amounts falling due after more than one year 10,663.517 11.560.716 17 114.934.596) {15,616, 283) Total net assets {4,271,079) (4. 055. 567) Group funds Restricted funds Unrestiicted funds 18 18 (4,271,079) (4, 055: 567) Total funds {4.271,079) (4,055, 567) Page 13
EMPOWER COMMUNtrY FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER. 07613369 CONSOUDATED BALANCE SHEEr (coNriNUED) AS AT 31 MARCH 2022 The Trustees acknowledge their resp)nsibilth"es for ccffiplw.ng wrth the requirements Ihe Companies Act 20( wrth respect to accounb'ng records and preparation of finanaal statements. The financial statements have been prepared in accordance with the provisions applicable to enttties subject to the small companies regime. The fInCIal ststements We approved and authorised for issue by the Trustees and signed on their behalf by: ray Chair Date: The notes on pages 17 to 38 f¢xm part of these financial statements. Page 14
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 07613369 FOUNDATION BALANCE SHEEr AS AT 31 MARCH 2022 As restated As restated Unaudiled Unaudited 2021 2021 2022 2022 Note Fixed assets Investments Current assets 14 20Q Debtors Cash at bank and in hand 15 10,536 77. 737 100,609 100.609 28,273 Credrtors: Amounts falling due within one year 16 117.000) (8, 675) Net current assets 83,609 19,598 Total net assets 83,809 19,798 Charity funds Restricted funds Unreslricted funds 18 18 83,809 19, 798 Total funds 83.809 19, 798 The Foundation has taken advantage of the exefnption allowed under section 408 of the Companies Act 2006 and has rM)t presented its own Statement of Financial Actsvities in these financial ststements. The Foundath'on's net movement in funds for the year was a surplus of £64,011 (unaudited 2021- deficit of £94.592). The Trustees a¢kn(wAedge their responsibilities for compl"ng with the requirements of the C(Jnpanies Act 2006 with respect to accountsng records and preparation of financ( statements. The financial statements have been prepared in accordan wth Ihe provisions applicable to entiti.es subject to the small companies regime. The financi statements were approved and authonsed for issue by the Trustees arKI signed on their behalf by.. ray Chair Date: of The note on pages 17 to 38 form part of these financial statements. Page 15
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 As restated Unaudited 2021 2022 Note Cash flows from operating activities Net cash used in operating acti74rties 20 1,697,448 7. 701.905 Cash flows from investing activities Interest received Proceeds from the sale of tangible red assets 500 279 14,847 Net cash generated from Investing activlties 15,347 279 Cash flows from financing activities Repayments of loans Interest paid 17,16 (470,723) (442. 823) (1.268,524) (1.329. 456) Net cash used in financing artivities (1,739.247) (1. 772, 279) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (26,452) (70.095) 1439,194 2, X19, 289 Cash and cash equivalents at the end of the year 21 1412,742 2, 439, 194 The notes on pages 17 to 38 form part of these financial statements. Page 16
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2022 General inforniation Ern[r Communty Foundation is a charitable ccynpany linrted by guarantee. incorporated in England and Wales. The Charity Registration Number of the Foundation is 1161019 and the Company Registration Number of the Foundation is 07613369. The address of the registered Off and pnncipal place of operatn is detailed on page 1. The nature of the Foundation's operations and principal activty are detailed in the Trustees. Report. Accounting policies 2.1 Basi5 of preparation of flnanckal statements The financial statements have been prepared in xctydance with the Charrties SORP (FRS 102) - Accounting and Reporting by Charthes: Statement of Recommended Practice applicable to charities preparing their &counts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Financial ReportirvJ Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 20{. Empower Communty FouTKJation meets the definition of a public benefit entty under FRS 102. Assets and liabilrties are initsalty recognised at historical cost or transaction value unless otherwise stated in the relevant accounting poly. The presentational and functional cenCY of the Group Foundation p¢)und sterling and the financial statements have been rounded to the nearest pound sterling. The ConsolKlated Statement of Financial Activities (SOFA) and ConsolKlated Balance Sheet consolidate the financ1 statements of the Foundat and rts subsidiary undertakings. The results of the subsidiaries are consolKJated on a line by line basis. The FoundatÈon has taken jvantage of the exernpti alkywed under section 408 of the Companies Acl 2006 and has not presented rts own Statement of Financ1 Activib'es in these financial statements. For the year ended 31 March 2021, Empower Communty FourKlation did not have the power to control or govem the financ1 and operaknonal policies of any other entities, meaning single-entity financial statements were prepared. For the year ended 31 March 2022. Empower Communty Foundation did have the power to control or govem the financial and operational policies of any other entitts. meaning these are consolidated financial statements. As a result. the comparatsves have been restated Ihrough-out these financial statements to show consolidated figures. 2.2 Related entities Empower Communty Foundation is a relevant legal entty to Communty Interest Companies (CICs}, th companies and three Limrted Liabilty Partnerships (LLPS) fomied to advance charitable solar powered aclivities. Empower Communty Foundation does have the power to control or govern the financial and operatK)nal policies of the tw) CICS and one of the LLPS and therefore Is rUired to prepare consolidated financial statements including these three entities. Further details regardiThJ these entitj'es can be fourKI in Note 14. Page 17
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies {continued> 2.3 Going concern The Group has net rreftt liabililies of £2,837,895 (2021 £2:804.958) and total net liabilrties of £4,271.079 12021 - £4,055.567) at Ihe Balance Sheet date. Also. included within Other k>ans: Credrtors - amounts falling due wrthin one year, as shown in Note 16, is a loan due to Social and Sustainable Capital - SASC (prevK)usty known as LeapfrcxJ) of £2.215,959 (2021- £2, 152,206) It had been obtained as a bridging loan and was due for repayment by 28 February 2019. The loan agreement States that repanent is to be financed by successful refinancing and the loan will not be held as defaufted rf an 'UPdat refinancing plan. is Submitted lo the lender. In line wryth the above, the DÈrectors have submitted a refinancing plan to SASC which has been agreed by the lender at presenL In line with the submitted plan, the Directors are confident that the loan can be SUCssfUllY refinanced in the near future and that it will not be called due immediately as the agreed refirk3ncing plan and repajrynent schedule be followed. Based on above and on the resources available, the Directors consider that the company wli I remain in operational existence for the near future. The Directors have considered relevant information. including the annual budget. forecast future cashflows and the impact of subsequent events in making their assessmenL The Group therefore cont]"nues to adopt the going concem basis in preparing its financial statements. 2.4 Income All income is recognised ce the Group has entrtlement to the income, il is probable that the income will be received and the amcxjnt of inccme receivable can be measured relbly. Inc¢Jne tsx recoverable in relation to donations recered under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in latIon to investment InccMne is recognised at the time the investment income is receNable. Other income is recognised in the period in which rt is receNable and to the extent the goods have been provKled or on ccwnpletN)n of the service. Other income from the sale of goods ts recognised when all of the foll(Y•vJng cond'0n$ a satisfied: the C(xnpany has transferred the snrf1Cant risks and wards of (wnership to the buyer; the Company retains neither ¢tinUing managerial involvement to the degree usually associated with ¢)wnership nor effective control over the g)ods sold: the amount of revenue can be measured relbly. it is probable that the Company will receive the consideration due under the transaction; and the costs incurred or to be inCued in respect of the transacti( can be measured reliably. Page 18
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (continued) 2.5 Expenditure Expendrture is recognised once the is a legal or constructsve obligation to transfer economic benefrt to a third party, it is probable that a transfer of economic benefrts wim be required in settlement and the amount of the OblatIon can be measured reliably. Expenditure is classified by actNty. The costs of &3ch activity are made up of the totsl of direct costs and shared costs, includiftg support costs involved in undertaking each &tivity. Direct costs attributable to a single actNty are allocated directly to that activrty. Shared costs ¥Ich contn'bute to more than one activity and support costs which are not attnbutable to a single activty are apportioned between those activrtie5 on a basis conststent with the use of resources. Central staff costs a alhxated on the basis of time spent. arKI depreciation charges allc¢ated on the porbon of the asset's use. Expenditure on raising fuThds includes all expenditure incurred by the Group to raise fijnds for its charitable purposes and includes cosls of all fundraising activits.es events arKI non-charitable trading. Expenditure on charttable activities is incurred on diredy undertaking the acttvities which further the Group's objectibes. as well as any associated support costs. Grants payable are charged in the year lthen the offer Is made excepl in those cases where the offer is condrtional, such grants being wognised as expenditure when the condits.ons attaching are fvlfilled. Grants offered subject to condrtions which have not been met at the year end are noted as a commitment. but not ac¢rued as expendrture. All expenditure is inclusive of irrecoverable VAT. 2.6 Interest receivable Interest on funds held C deposrt is Included when receivable and the amount can be measured relblY by the Group". this is normally upon noknfication of the interest p&d or payable by the institution with whom the funds are dep05rted. Page 19
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantse} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies {continued) 2.7 Tangible fixed assets and depreciation Tangible fixed assets are Initially recognised at cost. After recogniti'on, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation arKI any accumulated impairment losses. All costs incurred to bnng a tangible fixed asset into its intended wothing condition should be included in the measurement of cost. Depreciatim is charged so as to allocate the cost of langible fixed assets less their residual value over their estimated usefvl INes, using the slraight4ine method. DePreciOn is provthd on the folkw'ng basis: Plant and machinery 20 - 25 years The assets. residual values. useful lives and depreciation methods are revwied. artrd adjusted proSptive1Y rf appropnate. or rf the is an indicabon of a significanl change Sin the last reporting date. 2.8 Inveslments Investments in sUbSlaneS are valued at cost kn provision for impairment. Invesknents in associates are stated at the amount of the Group's share of net assets. The Consolidated Statement of Financial Activrties indudes the Group's share of the associated companies. net income or expendrture using the equrty accounting basis. 2.9 Debtors Trade and other debtors are recognised at the Sement amount after any trade discount offered. Prepayments are valLd at the anount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid Investments with a short maturty of three months or less from the date of acquisits'on or opening of the deposit or Similar accounL 2.11 Liabiltties and provisions Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past event, it is probable that a transfer of econ* benefit 11 be required in setdefnent, and the amount of the settlement Gan be estimated reliably. Liabilrties are recognised at the amount that the FourKIatn anticipates it pay to settle Ihe debt or the amount rt has reiVed as advanced payments for goods or services rt must provide. Page 20
EMPOWER COMMUNITY FOUNDAlloN (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2022 Accounting policies (continued) 2.12 Financial instruments The majorÉty of the Group's financial assets and liabilrties qualfy as basic financial instruments. Basic financial instruments are inrtialty recognised at transaction walue and subsequently measured at their settlement value wth the exception of bank k)ans thich are subsequently measured at afflotts'sed cost using the effethve interest method. Financial assets - trade and olher deblors are basic financial instruments and are debt instrument5 measured at amortised cost as detailed in N(Ae 15. Prepayments are not financial Instruments. Cash at bank is classffied as a basic financial instrument and B measured at fa value. Financial liabilthes - trade credrtot5. accruals and other creditors a financial instruments, and are measured at amortised cost as detsiled in Notes 16 and 17. Taxation arKI social secuiity are not included in the financial instruments disch)sure defin'On. Defeed income is not deerned to be a financial liability. as the cash settlement has already taken place and there is an obligation to deliver sep4ices rather than &gsh or another financial instnxnenL Investments in associates are measured al fair value using the equty method as detsiled in Policy 2.13 Operating I&eS Rentals paid under operah.ng leases are charged to the Consolidated Statement of Financial Actprftbes on a straight4ine basis over the lease temi. 2.14 Fund accounting General funds are unrestricted funds thich are available for use at the discretion of the Trustees in fvrtherance of the general objectsves of the Group and which have not been deSnated for other purposes. Investment income. gains and losses are allctated to the appropnate fund. Page 21
EMPOWER COMMUNITY FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income from donations As restated Unaudited Tot funds 2021 Unrestricted funds 2022 Total funds 2022 Donations 17.500 17.500 Income from charitable activities Unrestricted funds 2022 Total funds 2022 Environmental protection and conswrfats'on 2.651.057 1651,057 As $tated Unaudited Total funds 2Q21 Unres¢ricted funds 2021 Environmental protection and ¢servatIon 2. 538. 657 2. 538. 657 Page 22
EMPOWER COMMUNITY FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Investment income Unrestricted funds 2022 Total funds 2022 Bank interest receivable 500 500 As resfaled As restated Unaudited Unaudrted unsInC1ed Tolal furids fvnds 2021 2021 Bank Interest receivable 279 279 Other incorning resources Unrestricted funds 2022 Totsl funds 2022 Gain on sale of tangible fixed assets 17,998 17,998 As reslated As restated unaudrfed unaudited UnstriCted Total funds fvnds 2021 2021 Recharges 3.232 3, 232 Page 23
EMPOWER COMMUNITY FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of expenditure on charitable activities - by fund Unrestricted funds 2022 Total 2022 Environmental Protecti and conservation 2.902.567 2.902,567 As restated Unaudilecl As restated Unffjstsicled Unaudited funds Tot 2021 2021 Environmental protection and conseniaknon 2,932.816 2,932,816 Analysis of expenditure on charltable activitses - by type Grant funding of activities Support costs 2022 T¢>tal fvnds 2022 2022 Environmental protection and conservation 69,830 2.832.737 2,902,567 As restated Unaudited As restated As Stated Grant Unaudiied Unaudited funding ol Support Tolal 8clivitses costs fvnds 2021 2021 2021 Environmental proteCtn and conservation 190.858 2, 741,958 2,932,816 Page 24
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Anatysis of expenditure on charitable activities - by type (continued) Analysis of support costs As restated Unauditc Total funds 2021 Total funds 2022 DepreCtIon Audit and accountancy fees BookkeepirKJ fees Bank charges Professional subscriptions Legal and professional fees Premises cost5 Insurance costs Loan interest payable Asset management fees Arrangemenl fees Performance fees Technology costs VAT adjustments Solar monitoring Distributsons paid Bad debts Management fees Sundry expenses 867,413 55,250 7.650 1,774 1.039 111.246 170,716 867,859 56,382 7. 767 1.260 24.110 190. 080 22. 540 1.329. 456 52.020 24.23Q 1,268.524 49,168 30,317 10,288 7,263 4,507 23,863 90,222 6.866 102,991 100 7, 338 4,579 28.508 46,244 79, 585 1832.737 2, 741.958 Page 25
EMPOWER COMMUNITY FOUNDATION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Anatysis of grants Grants to institutions 2022 Total fvnds 2022 Environmenlal protection and conservation 69,830 69.830 Unaudited GTrnts to institulions 2021 Unaudited Tolal funds 2021 Environmental protection and conservation 190, 858 190, 858 No grants made to any one instftution in erther the year ended 31 March 2022 or the year ended 31 March 2021 were deemed to be material to ttrE Group for the purp05es of these financial statements. 10. Auditorfs remuneration 2022 2021 Fees payable to the Group's audrtor fcK tfE audit of the Group's annual accounts 29. 750 Fees payable to the Group's auditor in respect of: All non-audrt services not inclLKled above 31,500 25,110 Page 26
EMPOWER COMMUNrrY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Staff costs The average number of persons empbyed by the Foundati(n during the year was as follows: Unaudited Gmup 2021 No. Group 2022 No. Employees No employee recewed remuneration amounts.ng to MO than £60.000 in either year. The Group incurred no staff costs dunng the year ended 31 March 2022 (unaudited 2021- £NILJ. 12. Trustees. mUneratiOn and expenses During the year, the Trustees, who are ccffisidered to be the key rnanageMt personnel. didn't re1ve any remuneration or other benefrts (unaudrted 2021- £NIL). During the year ended 31 March 2022. no Trustee expenses have been irKurred (unaudited 2021- £NIL). Page 27
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Tangible fixed assets Group Plant and machinery Cost Al 1 Apnl 2021 (as restated. unaudited) Disposals 19.521.894 {8,908) At 31 March 2022 19,512,986 Depreciation At 1 April 2021 (as reststed. unaudited) Charge for the year On disposals 5,156,320 867,413 (12,0591 At 31 March 2022 6.011.674 Net Ix>ok value At 31 March 2022 13,501.312 At 31 March 2021 (as resia¢ed, unalIte 14.365.574 Page 28
EMPOWER COMMUNifY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2022 14. Fixed asset investments Investments in associates Group Cost At 1 April 2021 (as restated. urudited} 100 Al 31 March 2022 100 Investments in subsidiary companie5 Foundation Cost At 1 April 2021 200 At 31 March 2022 200 PaJe 29
4p c4¢ ¢oa* ¢V• CF) X cy) X CF) oO_ vM)(o ckn•Cc-Cc I11,Iliili (i o MCL w wci a)
a>kn¢oS C- 3>(UUILOoD ucEW(a w£ o)N (DI)
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Debtors As resEaled Unaudited Group Foundation 2021 2022 Unaudited Foundation 2021 Group 2022 Due within one year Trade debtors other debtors Prepayments and accrued income 133.821 2.123 468,888 10,536 74S,$42 471,011 10.536 16. Creditors= Amounts falling due within one year As reslaled Unaudited Group Foundation 2021 2022 Unaijdited Foundation 2021 Group 2022 Bank overdrafts other loans Trade creditors Amounts uwed to associates other tsxation and social securrty other creditors Accnjals 17.318 5,779,348 5, 568, 384 78.793 37,854 1(M) 10.532 17.852 109,554 6,1 25,277 77.547 7.425 1.250 17.000 6,013,497 5. 715, 170 17.000 8,675 Other loans of £5,T79,348 (as restated. unaudilod 2021- £5. 568. 384) are secuced by a fixed and floating charge over the assets of the Group. Page 32
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. Creditors: Amounts falling due after more than one year As restated Unaudited Group 2021 Group 2022 Other loans 14,934.5% 15,616.283 Other toans of £14,934,596 (as restated, unaudited 2021 - £15.616,283J are secured by a fixed and floating charge over the assets of the Group. Included vthin the above a amounts falling due as follows. As stated Unaudited Gn)up 2021 Group 2022 Between one and two years Other knans 1.312,494 7.241, 199 Between two and fNe years Other k)ans 4.197,210 3,935.646 Over five yea Other loans 9,424.892 10, 439.438 Page 33
EMPOWER COMMUNITY FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statement of funds Statement of funds - current year Balance at 31 March 2022 Balance at 1 April 2021 Income Expenditure unstrICted funds General funds {4,055,567) 2,687,055 (2,902,567) 14,271,079) Statement of funds - prior year As ffjstated As restated Unaudited Unaudiled As reslaled As sta[ed Balance al Balance a¢ Unaudited Unaudiled 31 March l Apnl 2020 Income Expenditure 2021 Unrestricted funds Genefal funds (3. 664.919) 2,542, 168 (2.932.816) (4, 055, 567) The General fund has been created to monrtor the inccming resources have no restrictions over Iheir usage in respect of acts"vities undertaken by the Group. Page 34
EMPOWER COMMUNITY FOUNDATION (A Company Limited by GuaThtee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. Analysis of net assets between funds Anatysis of net assets btheen funds - current year Unrestricted funds 2022 Total funds 2022 Tangible fed assets Fixed asset investrnents Current assets Credrtors due within one year Credrtors due in more than one year 13,501,312 13,501,312 100 100 3,175,602 3.175,602 (6,013,497) (6,013.497> {14,934,596) (14.934,596) Total {4,271.079) (4,271,079) Analysis of net assets between funds - prior year As restaled As staled Unaudited Unaudited Unreslncted Total fvi?ds funds 2021 2021 Tangible fixed assels Fixed asset invesbnents Current assets Creditors due wrthin one year Creditors due in more than one year 14, 365, 574 14. 365, 574 100 2.910,212 2,910.212 (5, 715. 170) (5. 715, 170) (15.616.283J (15.616.283J Total (4, 055. 567) (4, 055. 567) Page 35
EMPOWER COMMUNtTY FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 20. Reconciliation of net movement in funds to net flow from operating activities As S¢aled Unaudited Group 2021 Group 2022 Net expendrture for the year (as per Statement of Financial Activities) (215.512) (390, 648) Adjustments for. Depreciats"on charges Interest receNed Profrt on the disposal of tsngible fi'xed assets Increase In debtors 13 867,413 (500) 117,998) (274.531) 70.052 1,268.524 867. 859 (279) 15 (49, 496) (54, 987) 1.329,456 Increasel(decrease) in credrtors Interest paid 16 Net cash provlded by operating activities 1,697.448 1. 701.905 21. Analysis of cash and cash equivalents As restated Unaudited Group 2021 Group 2022 Cash in hand Overdraft fxil.ty repayable on demand 1430.060 (17.318) 2, 439, 201 (7) Totsl cash and cash equivalents 1412.742 2. 439. 194 Page 36
EMPOWER COMMUNITY FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of changes in net debt As restated Unaudited At 1 April 2021 Cash flows At 31 March 2022 Cash at bank and in hand Bank overdrafts repayable on demand Debt due wrthin 1 year Debt due after 1 year 2,439,201 In (5,568.384) {15.616.283) (9,141) 1430,060 (17,311) (17,318) (210.964) 15.779,348) 681,687 114,934.596) {18.745.473} 444.271 (18.301.202) Related entities In addrtion to the subsKliaries and a$SlateS listed In Note 14, Empower Communty FoundatK)n related to a number of other entitEs, either as a deSnated rnber or relevant legal entty. These other related entrties are listed below. ECS Peterborough 1 LLP Empower Peterbor(yJgh CIC Empower Community Management LLP ECSP1 Constructs'on Limited Emp(rwer Communty Foundation does n¢ have the pcwer to govem and difed the financial or operatK)nal policies of any of the above enteS under any statute or agreement. as the operational policies of the entities are detennined and directed by other entrties. Empower Communty Foundation and the above entities do not operate as a single entsty and the risks and rewards of the various entrties a not those of the FourKlation. Page 37
EMPOWER COMMUNITY FOUNDATION (A Company Ltmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 24. Operating lease commitments At 31 March 2022 the Group and the Foundation had ccxnmitments to make future minimum lease payments under non-cancellable operating leases as folknws". As restaled Unaudiled Group 2021 Group 2022 Not later than 1 year Later than 1 year and nol later than 5 years Later than 5 years 68.889 275.556 1.099.521 63,618 254.471 1,039,067 1,443,966 1,357. 156 The follow'ng lease payments have been recognised as an expense in the Consolidated Ststement of Financial Activrties: As stated Unauditt Gffjup 2021 Group 2022 Operating lease rentals 66.471 63, 805 25. Members. liability Each member of the Foundation undertakes to contribute to the assets of the Foundation in the event of it being wound up lIe helshe is a member, or wrthin one year after helshe ceases to be a member, such amount as may be required, rK)t exceeding £1 for the debts and liabilities contracted before helshe ceases to be a member. Related party transactions The Group has taken advantage of the exempth)n in SeCtn 33.1A under FRS 102 not to disclose tranSactnS wrth wholty owned member5 of the Group. EmrM)wer Communty Management LLP is a related paty as Empower Communty Foundation is designated member. During the year. supp)rt costs of £NIL {unaudited 2021- £3, 232) were recharged to Empower C¢Jnmunty Foundation and included in accrued income. At the year erKJ. a balance of £10.536 (unaudited 2021- £10. 536) for unpaid recharges was included within accrued income. During the year, Empower Communty Management LLP settled invoices totalling £NIL (unaudrted 2021- £2. 7) on behalf of Empower Communty Foundation. At the year end, a balance of £7.425 (tjnaudited 2021- £7, 425) owed to Empower Community Management LLP was induded wthin other credittys. Page 38