Environmental Defense Fund UK Annual Report and Financial Statements Year ended 30 September 2022 Charity number: 1164661 Company number: 09217493
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## **Table of Contents**
|**Reference and administrative information**|**Reference and administrative information**|**Reference and administrative information**|**Reference and administrative information**|**Reference and administrative information**|**Reference and administrative information**|**Reference and administrative information**|**3**|
|---|---|---|---|---|---|---|---|
|**Report of the Trustees**|||||||**4**|
|**S**|||||||**14**|
|**Statement as to disclosure to our auditors**|||||||**15**|
||||||||**16-19**|
|**Financial statements and notes to**|||**the financial statements**||||**20**|
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## **Reference and Administrative Information**
**----- Start of picture text -----**
Name change On 7 [th] December 2022, the Environmental Defense Fund
has renamed to Environmental Defense Fund UK (EDFUK)
Other Names
Environmental Defense Fund Europe (former name),
Environmental Defense Fund Ltd (former name),
Environmental Defence Fund Europe/UK (former name),
EDF Europe/UK, EDF Europe, EDF UK, Environmental
Defence Fund
Board of Trustees
Carl Ferenbach (Chairman)
Lord Brian Griffiths
Ravi Gurumurthy
Connie Hedegaard
Mark Heising (Appointed 27 [th] January 2022)
Roland Kupers
Andrea Monge
Hannah Ryder (Appointed 27 [th] January 2022)
Jens Dag Ulltveit Moe
Lance West
Registered Office 3 [rd] Floor
41 Eastcheap
London
EC3M 1DT
Company Registration Number 09217493
Charity Registration Number 1164661
Auditors BDO LLP
55 Baker Street
London, England.
W1U 7EU
Bankers Citibank
33 Canada Square
London
E14 5LB
**----- End of picture text -----**
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## **Environmental Defense Fund UK Report of the Trustees for the year ended 30 September 2022**
The Trustees statements of the charitable company for the year ended 30 September 2022 which are also 2006 purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (effective 1 January 2019).
No
not the United States, not Europe, not the global business community, certainly not Environmental Defense Fund (EDF) alone. Nevertheless, by working in partnership with many others, we can make a difference.
As we expand our platform in Europe, we will continue to investigate and assess what needs to be done to meet the most pressing challenges that cross national boundaries. We will remain alert and flexible, responding to new scientific discoveries, technological innovations and social trends and pursuing important opportunities as they arise.
## **Objectives and activities**
The objectives of the Charity are for the public benefit to promote:
- The advancement of the conservation, protection, and improvement of the physical and natural environment.
- The advancement of the education of the public with reference to the conservation, protection, and improvement of the physical and natural environment. The promotion of sustainable development by:
- The preservation, conservation, and the protection of the environment and the prudent use of resources.
- The promotion of sustainable means of achieving economic growth and regeneration.
- Sustainable development means
- .
The Charity Trustees consider that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charity Commission.
The European Union, in a flurry of climate communications and legislation over the last two years has committed in law to achieving climate neutrality by 2050 and to reducing greenhouse gas emissions by at least 55% in 2030 compared to 1990 levels. This also includes a newly agreed overhaul of the European carbon market. This plan now needs to be implemented, but there are still gaps between the goal and the plan of action.
Europe has prided itself on leading action on climate change this century. But its leadership has stumbled a little of late. In the face of conflicting priorities of the pandemic and geopolitics, recent decisions and pronouncements have looked less certain and provided less direction to business and industry.
To help deliver solutions on the scale of these problems, EDFUK will reach out to new audiences, unlock additional resources, and deploy both tried and tested tools and innovative approaches, adding further diversity to the European environmental movement.
## **Hallmarks of EDFUK**
- Working across the political spectrum
- Presenting a positive vision Investing in science and data analysis
- Using legal and economics expertise to design solutions Working with strategic partners across all sectors
## **Charting a Course for EDFUK**
EDF has a track record of over 50 years, in the US of using economics, science, and partnerships its overall effectiveness, EDF the UK to the broader European continent, with a growing and diverse staff to implement that shift. We continue collaborate with politicians, policy makers, businesses, and academia to hasten the transition to a carbon free economy, develop and implement ambitious environmental policies across Europe, and share learnings from Europe to other parts of the globe.
By developing a significant presence in Brussels, , and raising our profile as a global organisation, we will ensure that we can disseminate the best science and economics to achieve cohesive solutions that are effective locally, regionally, and globally.
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## **Goals**
## **Energy**
Accelerated adoption of clean energy in all sectors has reduced carbon emissions and contributed to improvements in air quality, while allowing for strong growth in the economy.
## **Measuring methane emissions**
Measured methane emissions from global oil and gas infrastructure to help identify emissions mitigation opportunities within Europe.
## **Reducing methane emissions**
European countries and companies make strong commitments to reduce methane emissions, consistent with achieving a 45% global reduction by 2025.
## **Climate**
Europe meets its commitments under the Paris Agreement, pledging to cut emissions by at least 55% by 2030 (from a 1990 baseline).
## **Hydrogen deployment**
The development of policies across Europe on hydrogen deployment with full consideration of the potential for hydrogen leakage, which as potent greenhouse gases can exacerbate detrimental effects on the climate.
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## **Achievements and performance**
## **Bringing science to Europe s hydrogen debate**
Accelerating a transition to clean energy in the EU is key to addressing the current energy crisis as well as the climate emergency. Green hydrogen is an important part of this transition. The European Commission has stated that clean, renewable hydrogen will be essential to replace natural gas, coal and oil, especially in hard-to-decarbonise industries and transport. The EU has stated its intention to produce 10 million tonnes of hydrogen from renewable sources and import another 10 million tonnes by 2030.
## **2022 Achievements**
- has confirmed in bilateral
- meetings that two EDF UK events in 2021 were successful in first putting the issue of hydrogen leakage on their radar.
- As a result of our ongoing advocacy efforts, the EU s research and innovation funding program Horizon Europe will include a budget line for climate impacts of hydrogen leakage in the 2023 work program.
- EDFUK has been invited to raise the flags of concern and the potential of hydrogen as speakers/presenters at events with Chatham House, Reuters and the TED Dilemmas. EDFUK has successfully applied for membership in the European Clean Hydrogen Alliance.
- EDFUK has briefed over 20 organizations from civil society and beyond on hydrogen leakage.
## **Shaping methane regulations**
Methane emissions represent about 12% of overall GHG emissions in the EU. 53% of anthropogenic methane emissions come from agriculture, 26% from waste and 19% from energy. Although energy methane emissions only represent a small amount of the overall EU GHG emissions (less than 2%), it is the area where emissions can be reduced quickly at low or no costs. Moreover, the EU is the largest importer of gas in the world: if its legislation also applies to imported fossil fuels, this will have an impact far across its borders.
Over the past two years we have worked across the EU institutions and EU member states to shape an essential methane regulation. As we head towards a final text, we have worked in close collaboration with the European Commission, European Parliament, EU member states, UN Environmental Program as well as representatives from the oil and gas industry to uphold the legislation high level of ambition. Our seat at the table gives us a unique opportunity to put forward solutions that increase the level of ambition and address concerns raised by various stakeholders.
## **2022 Achievements**
- EDFUK has engaged the EU Council (representatives of the governments of the 27 countries of the EU) as it began negotiations on the proposed EU methane regulation in early 2022 to ensure that lobbying form the oil and gas industry is not successful in dilute the text of the regulation.
- Through direct advocacy and high-level events such as EU Methane Week and EU Sustainable Energy Week we have engaged with key Members of the European
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Parliament (the legislative body with 705 elected representatives) and the European Commission (the EU's executive branch), providing clear science-based and technical explanations to help inform their decision making.
- EDFUK in-country advocacy has rapidly advanced, with activities now ongoing in Poland, Spain, France, Italy, Germany, and the Netherlands. Media coverage in leading national outlets has also supported our effort to build in influence.
- Through our strategic collaboration with Climate Action Network Europe (CAN) we have also expanded our advocacy reach to Bulgaria, Hungary, and the Czech Republic.
## **Enhancing our approach to EU Transport**
Transport represents almost a quarter of Europe's GHG emissions and is the main cause of air pollution in cities. The transport sector has not seen the same gradual decline in emissions as other sectors: emissions only started to decrease in 2007 and remain higher than in 1990. Within this sector, road transport is by far the biggest emitter accounting for 72% of all GHG emissions
By 2030, EDFUK's goal is to lock in policies and investment necessary for shipping, aviation, lorries, buses, and passenger cars to achieve their net zero targets by 2050 while achieving preliminary GHG reductions form these transport modes by at least 5% from global 2020 le
## **2022 Achievements**
- EDFUK worked with POLIS, a network of European cities and regions working together on innovative technologies and policies for local transport, to develop the Sustainable Urban Freight project which set out to help cities and regions build strategies to reduce air pollution and carbon emissions from heavy duty vehicles. EDFUK chose to support three "instant projects" out of scores of applicants. The winners in Denmark, Italy and Greece received a small amount of funding and some expert support for their projects which were then networked and workshopped. An online course was also produced to reach even more interested parties. We hope to continue this work subject to funding, with a larger number of cities. 2022 has been a pivotal year for EU policy on maritime transport, with important Emissions Trading System (EU ETS) extension to shipping, and
- -carbon fuel standard Fuel EU.
- EDFUK shipping is feasible and a constructive step towards a global measure at the International Maritime Organisation.
- On Fuel EU Maritime, EDFUK spearheaded the call for a zero-carbon fuel mandate, and for direct use of renewable power on board ships. We did so by leveraging our partnerships with other NGOs and key industry associations like Global Maritime Forum te in
- October, a compromise to include a 2030 zero-carbon fuel mandate was successful whereas the proposal to enhance the reward of onboard renewable power on ships, though ultimately unsuccessful, gathered the most votes of all plenary amendments. EDFUK has also established a place for itself in the wider European dialogue to shape decarbonisation going forward. We took part in panel events organised by key
- industry players, such as World Shipping Council in Brussels and Maersk McKinney
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institutions and honed an effective communications approach that makes use of video and social media, to deliver our main messages to policy makers in a joint campaign with Transport & Environment, a well-established transport NGO in Europe.
## **Development and Operations**
EDFUK continues to establish itself as an environmental non-profit that brings a unique sciencebased perspective to the major policy debates shaping the future of the European Union. As we deepen our engagement and impact on the continent, we are augmenting our organizational capacity with an influx of staff that reflects the diversity of the policies and politics we hope to shape.
As part of the transformation to an authentically global organisation, EDFUK has undergone a remarkable evolution over the last two years, with its board more European in composition and the team developing from a largely UK-focused team of British and American nationals to a truly pan-European team of experts drawn from across the European continent. The EDFUK team now has staff from 16 countries including Belgium, France, Germany, Greece, Hungary, India, Italy, Malta, Mexico, the Netherlands, Portugal, Spain, Sweden, the United Kingdom, the United States and Vietnam. The EDFUK team at the heart of the EU in Brussels has also grown exponentially which will be reflected by the opening of new expanded office space in 2023.
## **Financial review**
## **Expenditure**
EDFUK irect expenditure for the year ended 30 September 2022 totalled £5,789k ( _2021:_ £4,002k _)._ Of the total expenditure, £5,632k was considered unrestricted ( _2021: £3,298k_ ) and £158k was subject to donor restrictions ( _2021: £704k_ ). Stichting ED s direct expenditure was £3,011k ( _2021: £371k_ ) The expenditure covered charitable activities and operational costs.
## **Income**
EDFUK receives funding and support from several generous private individuals and foundations. The remainder of our activity is funded through a grant from EDF. We maintain a restrictive government and corporate donations policy that ensures our objectivity, aligns with our commitment to non-partisanship, and allows EDFUK to make its work freely available to ensure its widest possible adoption.
EDFUK received total income of £5,851k ( _2021: £4,064k)_ for the year ended 30 September 2022. This included £5,694k of unrestricted funds ( _2021: £_ 3,310 _k_ ) and £158k of funds that were subject to a restriction on usage ( _2021: £754k)._
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EDFUK ended FY2022 with £62k surplus financial result compared to a £62k surplus a year earlier.
Total funds at the end of FY2022 are £721k ( _2021: £659k)._ All net assets held were considered unrestricted.
## **Conduit funding**
During the year, EDFUK received funding on behalf of EDF totalling £27k. These funds were passed directly to EDF at the request of the donor and are not included in the results of EDFUK.
## **Reserves policy**
Reserves are typically required to bridge the gap between spending and receiving income, and/or to cover. The Trustees believe the ideal level of Reserves is three months of Operating Expense which is £2,000k ( _2021: £727k_ ). The reserves level has been reviewed in light of the COVID-19 pandemic, global inflation, and other relevant factors, and the Trustees assess that the required level of reserves remains appropriate despite this external event. The total unrestricted funds as of 30 September 2022 amounted to £721k ( _2021:_ £659k). This includes fixed assets with a Net Book Value (NBV) of £78k ( _2021:_ £51k) that are not available for general purposes at the yearend, leaving free reserves at the year-end of £644k ( _2021:_ £608k). The Trustees believe that the current level of reserves is sufficiently close to target so as not to require specific action. This will however be reviewed annually as the organisation continues to grow.
As at the date of signing these financial statem charitable company will be able to maintain liquidity for a period of at least one year following the date of signing these financial statements and will therefore be able to continue to operate as a going concern. The Trustees therefore consider that no material uncertainty exists that could
## **Looking to the future**
Many experts think that the immediate energy crisis will soften in the coming year and prices in Europe will decrease but the need for increased resilience has been visibly demonstrated in the last two years and the need to rapidly transition from fossil fuels has never been more apparent.
In additional to continued work on work areas for 2023, we have a number of new staff taking forward work on the following subjects:
**Advancing climate smart agriculture.** The EU has several policies that aim to address agricultural greenhouse gas emissions, including methane. However, there is currently no EUwide emission reduction target specifically for agriculture. New policy reforms are needed to ensure the EU reduces methane emissions enough to meet its share of the Global Methane Pledge. To raise government ambition and advance methane solutions, EDFUK commissioned a gap assessment focusing on the agriculture sector in the EU and in selected member states.
Findings from this report will also help identify potential strategies and inform action to reduce livestock methane emissions at both the EU and member state-levels.
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## **Driving corporate disclosure and influencing investors.**
investor insights and reports for several key sectors, EDFUK continues to engage actively in agriculture. In addition, we have applied to join Platform on Sustainable Finance (to influence future taxonomy). These groups bring together sectoral expertise from industry, finance and CSOs to support the development of mandatory EU sector specific ESG disclosures.
**Reducing energy demand in Eastern Europe.** There is a sense of war time urgency around the 40% of all gas consumed in the EU. Energy demand reduction through efficiency measures is critical for reducing consumer costs, lowering fuel imports, and lowering emissions. Each member state has very different challenges around energy use and energy demand reduction, and we are looking at the poorest states to see how we can make a difference for the most disadvantaged.
Scoping has begun in Romania for our planned work on energy demand reduction, where we are building an ecosystem of Romanian local partners, stakeholders, and community groups to help drive transformative solutions. Results of current scoping activities will help us design and roll demand at scale. We are also seeking to build on this work in other Eastern European countries, including Bulgaria and Poland.
## **Fundraising**
EDFUK seek to raise funds from individuals, foundations and relevant Government grant making programmes. EDFUK and Stichting EDF Europe receives donations raised by EDF for our work in Europe and direct support received from European sources. Fundraising activities in Europe are closely coordinated between EDF and EDFUK and Stichting EDF Europe.
We carry out our fundraising in-house, do not currently employ professional fundraising service providers, and do not manage small-scale donations from individuals. EDFUK does not hold or manage a list of contact details for residents in Europe, donating to EDFUK. We have received no complaints. fundraising activity is currently not operating at a level where EDFUK considers it necessary to agree to any voluntary standards. Should it increase, EDFUK will ensure we adopt leading practices and sign up to and meet the appropriate standards.
EDFUK have received no complaints in relation to fundraising activities. Our terms of employment require staff to always behave reasonably; it is not currently necessary to design specific procedures to monitor such activities. When fundraising from individuals in Europe is facilitated in Europe via a dedicated communications channel such as the new website, we will establish the necessary procedures and guidelines to manage that activity.
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## **Structure governance and management**
## **Governing document**
EDFUK is a company limited by guarantee under the Companies Act 2006 and incorporated in England and Wales. EDF, a New York not-for-profit organisation is the sole member of the Charity. The liability of the Member is limited to £1, being the amount that the Member undertakes to contribute to the assets of EDFUK in the event of its being wound up while it is the Member or within one year after it ceases to be the Member. In addition to the foregoing, EDF has entered into an agreement with EDFUK to pay operating expenses that EDFUK is unable to pay during the period from October 2022 through March 2024.
Decisions of EDFUK Trustees, who act independently from EDF. EDF may suggest areas of work for consideration by the EDFUK Trustees; however, work in these suggested areas will be undertaken only if the Trustees of the Charity decide that it will Program and geographic leaders work collaboratively to identify and maximise opportunities for transformative environmental impact.
Stichting Environmental Defense Fund Europe is a charitable foundation, registered in the Netherlands (Chamber of Commerce registration no. 72607440) and a company limited by guarantee, incorporated in the Netherlands (Fiscal identity company no. 859171814). EDFUK consolidates the results of the Stichting on the basis that it has the ability to govern financial and operating policies. The mission of the Stichting follows that of EDF UK and its ultimate parent organisation, EDF. Summary results for Stichting EDF Europe are included in the notes to the financial statements.
The workforce remuneration and key management personnel salaries are reviewed against market pay data. We are also in the process of devising a remuneration policy to ensure workforce pay is within the appropriate market benchmark, parameters, and criteria against the UK charity and not for profit sector.
## **Appointment of Trustees**
The Memorandum and Articles of Association of EDFUK require that the Charity have at least four trustees, two of whom must be independent trustees. EDF as the sole member, appoints Trustees for such term as the sole member specifies.
Trustees of EDFUK have been, and prospective Trustees will continue to be, chosen with their knowledge of the European region in mind. In due course, as the Charity gains experience and develops its own organisational capacity, it is anticipated that the Charity's staff and trustees will increasingly propose areas of focus and activities to be carried out by EDFUK and will liaise with EDF to ensure such activities coordinate with EDF
EDF and EDFUK work together towards the achievement of common goals and currently share a common Board Chair, which helps to provide co-ordination and consistency.
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EDFUK is seeking to expand Board membership to include representatives from a wider spectrum of European countries and a greater range of skills, experience, and influence.
## **Trustee induction and training**
New EDFUK Trustees are voted on by a majority vote of the Board. Upon their approval, new Trustees are provided a Trustee handbook and organisational orientation. The orientation includes meetings with the Board chair, EDFUK Executive Director, and other members of the organis
and programme teams. The goal of the orientation is to give new trustees the opportunity to ask questions and gain a deeper understanding of the organisation s mission, vision, and operations.
## **Organisation**
An Executive Director is appointed by the Trustees to manage the day-to-day operations of both EDFUK and Stichting Environmental Defense Fund Europe by implementing the policy and strategy adopted by and within a budget approved by the Trustees. The Trustees provide the manager with a description of his or her role and the extent of his or her authority; and any manager must report regularly to the Trustees on the activities undertaken in managing EDFUK and provide them regularly with management accounts, which are sufficient to explain the financial position of the Charity.
## **Risk management**
The Trustees of EDFUK receive regularly updated risk assessments which cover the principal risks and uncertainties that the charity face, including financial, operational, and reputational, presented in the form of a risk register that also summarises implementation of policies, processes, or procedures to minimise or manage the potential impact on the charity should those risks materialise.
The Trustees review the risk register at each Board meeting and consider any further steps which may be necessary to manage new as well as previously identified risks. The Trustees consider the most serious risks to which the charity is exposed at present to be:
- Strategic aim of European expansion: the Trustees have identified a risk that the strategic aim of European expansion will be delayed due to the need to develop and implement strong operational processes and policies. To mitigate this risk, we are building our internal capability with the hire of senior operational roles in the Netherlands and Belgium. This will be supplemented by expert external support, as required.
- Developing robust business processes: It is critical that the aims of growth and expansion are supported by a strong and comprehensive foundation of controls and processes. In addition to boosting our capacity and capability through recruitment, we are also investing in systems and technology.
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- Reputational risk. reputation and credibility are key to our success in successfully advocating for change. To mitigate against the risk to our reputation we regularly carry-out media monitoring in Europe and the US and at programme levels to help monitor this risk and regularly review our publications and social media outputs.
## **Statement of Trus**
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charity for that period.
In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently.
- Make judgements and accounting estimates that are reasonable and prudent.
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Statsment as to dlsclosure to our audltor*
In so far as. the trustees are aware at the time of approvr Ir trustees. annual rewrtr.
There is no relevant infomithn. beirvJ infom)ation need&1 ty the auditor in
connection with preparing thr repor( of which the group's auditor is unaware.
The Ttse$, havyng made enquiries of fellow directors and the group's audttor
that they ought to have individually tsken, have each taken all steps that helshe Is
obliged to take as a director in order to make themselves aware of any relevant
audlt Infomation and to establlsh that the auditor is aware of that infornats'on.
In preparing this Trustees. Report advantage has been tsken ofth8 small ¢ompanies' exempts'on,
includirKJ the Optlon not to produc8 a strategic fwL
By ord•r of th• Board of Trustw•:
Carf Ferenbach (Chalr>
Dats: &.Il.&
## **AND TRUSTEES OF ENVIRONMENTAL**
## **DEFENSE FUND UK**
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
and, except to the exient otheThwse expliotly stated in our report, we do not express any fom)
of assurance conclusion thereon. Our responsibility 15 to rea¢J the other information and, in
doing so, consider whether the other information is materially incon51Stent th the financial
Statements or our knowledge obtained in the course of the audit, or otherw5e appear5 to be
materially mfsstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to detem)ine whether this gives rise to a material misstatement
in the financial 5tatement5 them5elve5. If, b05ed on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that
fact.
We have nothing to port in thls ard.
Oth•r Companles Act 2006 r•portlng
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees. Report, which includes the Directors. Report and the
Strategic report prepared for the purposes of Company Law, for the financial year for which
the financial statements are prepared is con51Stent with the financial staternent5- and
the Strategic report and the Directors. Rert. which are included in the Trustees, Report,
have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Charitable
Company and its environment obtained in the course of the audit, we have not identified
matertal mlsstatement In the Strategic report or the Tru5tee5' report.
We have nothlng to report In respect of the follo$ matters in latIon to which the
Companles Act 2C#)6 requlres us to rep)rt to you If, In our oplnlon-
adequate accountlng records have not tjeen kept by the Parent Charitable Company> or
returns adequate for our audlt have not been received from branches not wsited by us. or
the Parent Charitable Company financial 5tatement5 are not in agreement wlth the
accounting records and returns- or
ertaln dlKlosures of Olrectors. remuneratlon speclfled by law are not made,. or
we have not recelved all the Information and explanations we require for our audlt.
Responslbllltles of Trustees
As explalned more fully In the Trustees, ponsIbIlit5e$ statement, the Trustees Iwho are also
the directors of the charitable company for the purposes of company lawl are reswnsible for
the preparatlon of the financial statements and for being satisfied that they glve a true and
falr view, and for such internal control as the Trustees determine is necessary to enable the
preparation of financial statements that a free from material misstatement, whether due to
fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the Group's
and the Parent Charitable Company's ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting
unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or
to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statents
We have been appolnted as auditor under the Companies Act 2(Mkn and report In accordance
with the Act and relevant regulations made or han9 effect thereunder.
17
_Extent to which the audit was capable of detecting irregularities, including fraud_
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the industry in which it operates, we identified that the principle laws and regulations that directly affect the financial statements to be relevant are the Charities Act in the UK, Companies Act 2006, UK GAAP, FRS 102 Charities SORP and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
In addition, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: employment law, health and safety legislation, and data protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Those Charged with Governance and other management and inspection of regulatory and legal correspondence if any.
either as a result of fraud or error. We also considered financial performance and key drivers for any performance targets. We also considered the risks of non-compliance with other requirements imposed by the Charity Commission and we considered to extent to which non compliance might have a material effect of the financial statements.
We have made enquiries of management, and the Board, including:
- How they have identified, evaluated, and complied with laws and regulations and whether they were aware of any instances of non-compliance.
- Their process for detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud.
- Which internal controls have been established to mitigate risks related to fraud or non-compliance with laws and regulations.
- opportunities for fraudulent manipulation of
- the financial statements (including revenue recognition and the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates.
- Identifying and testing the appropriateness of journal entries and other adjustments, with particular focus on unusual account combinations and postings by unexpected users or senior management.
- Challenging the assumptions and judgements made by management for key estimates.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.
There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
Jill Halford (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor London, UK Date 19 June 2023
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
Environmentsl Dgfense Fund UK
on$olidated Statement of Financial A¢tivities
Iin¢orpoffjting an incotne and expenditu accounti
Forthe
ear ended 30 Se tembBr 2022
2022
Totsi Vnre*d¢ted Re$b)¢ted
2021
Incornefrorn..
Chanlable actsvths.
Climatè Inibats
other Income
5.616.289
TT 516
157.616
5.773,90S
77.516
3,309.SU3
754,345
4,(3.928
Total ITrcornE
5.693.005
157.816
5,851,421
3.309.583
754.345
4,063.928
Exp•ndttur• on..
Chantstde acbviries.
Climate Inthalwes
5.631.569
157.816
5,789,185
3,296.200
704,093
4,W2.292
Total exwdknrn
5.651.569
157.816
s,7,186
3.296.200
704.093
4,W2.292
N•t Incorn• forth• year
02230
62236
11.383
50,252
81.635
Translers bet4veen fvnds
N*t m0Mn¢6Th funds
50.252
$223$
61.835
e1.636
R•concllliOon of fundi..
Total lund5 brDughl foTh¥ard
659.164
6Sg,164
S97.529
597.529
Totsl lundl urrl•d lorwxd
14
721.400
721,400
859.184
059.184
Tr•lla olhwt•cognls•dgwM oiknu•i
20
Environmentsl Defense Fund UK
Consolidated Balance Sheet
As at 30 Septsmber 2022
Company rogl8tr•llon no. 0921T493
2022
2022
2021
2021
Flxed a•80ts'.
Tangible
Intsngible Assets
74624
42,860
8,238
TT,528
51,098
Currfjnt asts•ts:
Dabtors
Cash al bank
10
161.656
1,281,687
1.443.343
1,094.867
IA34J63
Llabllltl••:
Credilor8'. amounts falllng wrthin one year
11
1772A811
(829,27n
N•t eumint ••••t•
662.002
614,068
Total a••ot• IM• ¢uYv•nt Il&bllltl
740.030
685,164
Pw$k)n$ fcrf li•bilitl•s
12
(18.rAo)
18,000}
Total not a•••ts
721,400
659,164
Fund•
ReslriGted fvnd8
Unr•8tncted fund8
13
13
721,400
859,164
Totsl fund•
721,400
669,1PA
Th• fin•nGwl tatts hav• bwn Fwar•l in wilh Ihe ithsl(Th for gmall ¢ompanl88
under Part 15 of the ConpanM kt 2006.
ts . IS-.&5
Approvod bythetruste88 on............................
ar)d 8KJned on th8iT behalf ty.
' N*m•
Trust
The attached notss fonn part of the financial slatemen
21
Environmentsl Defense Fund UK
Parent Charity Balance sheet
As at 30 September 2022
Company registration no. 09217493
2022
2022
2021
2021
Flxgd assets:
Tanoibh assetÈ
Intangible A88ets
42.860
8,238
51,096
Currnnt au•ts:
Debtors
Cash at bank
10
1813TT
852.685
1J)03,962
223,344
1.184,925
1.408.269
LlabllltlM:
Credltor8: amounts falllrwJ due withln one
11
(403,239)
1816.&S3}
N•t ¢urront a•••ts
600,723
591,406
Total a•••t• l•M ¢urr•nt Nabllltl••
660,271
642.504
Provi8ion8 for lialiti88
12
(18,630
16,CK)01
Total not a•••l•
641.641
836,504
Fund¥
Restricted fund•
Unréstrided fundB
13
641,641
636,504
Total fund•
641,641
838,504
The financial statements ho bn preparod in arx>)nkn with the proNision8 ftjr small c(Ynpanle8
Iind*r PArt 14 of tho Compani89 Act 2(.
A8 Fennltted by section 408 of the Companie5 Ad 2006. the Parent Chafitable CL¥npanV8 praflt And l¢)$8
account has not hen indLKled in these financial statements. The suWu$ for Ihg year was £62,238 (2021."
£61.635 surplus).
Approved by the trustees on ...
and sned on their behalf by.
Nam
Trustee
The 8ttached rKkns fcrfm rort of the finaneial stat•mtrI.
22
Environmental Defense Fund UK
Consolidated Statement of Cash Flows
For the year ended 30 September 2022
2022
2021
Net ca$h (used inl I provided by operating activities
101,829
1,169,974
Cash used in investing activities
172,0221
120.9531
(Decrease) I Increase In cash and cash equlvalents In the year
29,807
1,149,021
Cash and cash equivalonts at the beginning of the year
1,281,687
132,666
Cash and cash equival8nts at the end of the year
1,311,493
1.281,687
Reconcillatlon of net expenditure lo net cash flow from operatlng
a¢tSvltloS
2022
2021
Net expendlture for the reportlng perlod
las per the statement of flnanclal actlvltlesl
Amortisation charge
Depreciation charge
Ilncreasel I decrease in debtors
Decrease I lincreasel in creditors
Wrile-down of investment
In¢rea$e in provisions
Not ¢a$h Iusod inl I provlded by operatlng 4¢tlvttles
62.236
61,635
8,238
37.354
10.986
15.537
881.419
200.396
{6,0001
101,829
1,169.974
Cashflow from Investing actlvitie8
Purchase of Tangible Fixed Assets
72.022
72.022
20.953
20,953
Changes in Net Funds
At01
October
2021 Cash Flows
At30
Non-cash September
changes
2022
Cash al bank
1.281.687
(187,120)
1.094.567
Net cash
1,281.687
{187.1201
1.094,567
The attached notes form part of the financial statements.
23
Environmental Defense Fund UK
Notes to the financial statements
For the year ended 30 September 2022
Accountlng pollcles
Basis of preparation
The financial statements have been prepared in accordance wth Accounting and Repoth'ng by
Charities.. Statement of Recommended practi applicable lo charities preparing their accounts in
aecordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland
IFRS 102 - effective 1 January 20191- IChanb"es SORP FRS 1021 and the Companies Act 2006.
The charitable company meets the definibon of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at histor1 cost or transaction value unless otherwise slated in
the relevant accounting policy or note. These financial statements have been prepared in
accordance with provisions applicable lo companies, subject lo the small companies, regime.
Basls of Consolldatlon
These financial statements consolidate Ihe results of the charity and ils controlled subsidiary
undertaking Slichling Environmental Defense Fund Europe on a line by line basis. A separate
Slalemenl of Financial Activitses and Income and Expenditure account for the charity has not been
presented because it has tsken advantsge of the exemption afforded by the Charib'e$ SORP.
1.2 Golng concern
In as$es$ing the impact of COV1[19 on EDF Europe, the Trustees have Considered all the
mallers described in the Trustees, Report, including the group's operations, the impact on
donations and grant fvnding. With this in mind, the Trustees can Confirm there are enough funds
lo support the programmatic operations of EDF Europe. Despite the global pandemic,
Environmental Oefense Fund Europe is in a good position and maintsining its ¢urrent
programmatic strategy and expansion plans. The Iruslees also deem the future risk lo income
streams lo be negligible as a result of the signed letter of support from Environmental Defense
Fund Inc. This tter demonstrates that the parent company has a legal obligation lo cover the
shortfalls up to March 2024. The trustees have made suitable inquiries and considered the
charity's forecasts, including cash flow. updated in the context of the COVID-19 pandemic and
covering a period of at least 12 months from the date of approval of these financial statements. In
making our assessment. the Trustees did not consider there lo be any malenal uncertainty relating
lo events or conditions that individually or colleth'vely may cast significant doubl on the company's
ability lo continue as a going concem.
Income
Income is recognised when the charity has ents"Ilemenl lo the funds, any performance conditions
attached to the income have been mel, il is probable that the income wll be received and that the
amount can be measured reliably. Income from government and other grants, whether 'capital'
grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any
performance conditions attached to the grants have been mel, it is probable that the income will
be received and the amount can be measured reliably and is not deferred. Income received in
advance for the provision of specified Servi is deferred until the criteria ft)r income recognition
are mel.
Fund accounting
Unrestricted funds are available lo spend on acbvib'es that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity, which the trustees have decided al their
discretion lo sel aside to use for a specthc purpose. Restricted funds are donab'ons, which the
donor has specified, are to be solely used for parb"cular areas of the charity's work or for specrfic
projects being undertaken by the charity.
24
Environmental Defense Fund UK
Notes to the financial statements
For the year ended 30 September 2022
Accounting policies lcontinuedl
Expenditure and irreeoverable VAT
Expenditure is recognised once there is a legal or constructive obligation lo make a payment lo a
third paty. Il is probable that setuemenl will be required and the amount of the obligab.on can be
measured reliably. Expenditure is classified under the following activity headings..
Costs of raising funds comprise of trading costs and the costs incurred by the charitable
company in inducing third parties to make voluntary contributions lo it, as well as the cost of
any activibes with a fundraising purpose.
Expenditure on charitable activities includes the costs of delivering setvices, exhibitions and
other educational activibes undertaken to further the purposes of the chanty and their
associated support costs.
Other expenditu represents those items not falling into any other heading.
Irrecoverable VAT is Charged as a cost against the actsvity for which the expenditure was incurred.
Allocatlon of support costs
Support costs are those functions that assist the work of the charity bul do not directly undertake
¢haritsble aclivrties. Support costs include offi¢e ¢osls, finance, personnel, payroll and governance
costs which supp)rt the chanty's environmental programmes and acts'vities. Support costs have
been allo¢aled to expenditure on charitable activities.
Oporatlng 1oas6s
Rental charges are charged on a slTaighl line basis over the te of the lease.
Cash at bank
Cash al bank includes cash and short lem huhty liquid investments with a short maturity of three
months or less from the date of acquisition or opening of the deposit or similar account.
Credltor8 and provisSons
Creditors and provisions are recognised where the charity has a present obligation resulting from
a past event that will probably result in the transfer of fund5 to a third party and the amount due lo
sellle the obligation can be measured or estimated reliably. Creditors and provisions are normally
re¢ogni$ed at their settlement amount after allowng for any trade dis¢ount$ due.
Provisions for dilapidations lotalling £18,630 (2021". £6,WOI are the best estimate of eosts for the
repairs and redecoration of office premises to retum to gc¥)d order before vacating in July 2025.
1.10 Financial instrurnents
The charity only has financial assets and ffinancial liabilities of a kind Ihal qualify as basic financial
inslrumenls. Basic financial instruments are inilialty recognised al transaction value and
subsequently measured at their setuemenl value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
25
Environmental Defense Fund UK
Notes to the financial statements
For the year ended 30 September 2022
Accounting policies lcontinuedl
1.11 Intangible Assets
Intangible assets relate to website development costs. Where the charitable companies, websites
are expected to generate future revenues in excess of the costs of developing those websites and
all other capitalisation criteria are mel, expenditure on the functsonality of the websrte is capitalised
and treated as an intangible fixed asset The capitalised website development costs are
subsequently amortised to 'administrative' expenses on a straight line basis over 4 years, expt
for those that are 'assets under constructson,, where no amortisatson charge is incurred until the
asset is complete.
1.12 Tanglble flxed assets
Items of equipment are ¢apitalised where the purchase pn ex¢eed$ £500. Depreciation is
provided al rates calculated lo write down the cost of each asset lo ils estimated residual value
over ils expected useful lrfe. The depreciation rates in use are as follows".
Fixtures and frttings - 200k slraighl-line basis
1.13 Forelgn Currencles
Assets and liabilities denominated in foreign currencies are translated at the rate of exchange
ruling al the balance sheet date. Transactions are recorded at the rale ruling at the dale of the
Iransaclion. All differences are taken to the Statement of Financial Activities.
1.14 Judgements In applylng accountlng pollcles and key sources of estlmatlon uncertalnty
Revenue is recognized on the Oceano Azul Foundatson grant based on a percentage completion
basis over the life of the contract using a best esb.male based on supporting budgets and costs
submitted. The Iruslees do not consider there are any further critical judgements or key sources of
eslimalion uncertainty requiring dis¢lo$ure.
26
Environmental Defense Fund UK
Notes to the financial statements {continued
For the year ended 30 September 2022
2 Donations and Grants
2022
Total
2021
Total
Unrestricted
Restricted
Climate initiatives
EDF Inc
Clean Air Fund.. Breathè London
Clean Air Fund.. Data Into Action
Clean Air Fund. Through Traffic
Children's Investment Fund Foundats'on
Frederick Mulder Foundation
Oceano Azul Foundation
Other Donations
United Nations Environment Programme
5.593.501
5,593,501
3.243,226
181,879
29,920
39,000
346,726
10,000
50,959
S6,3S7
105,862
5.241
6,241
38.168
38,168
22,788
114,207
22,788
114.207
T¢tsl for ¢llmats fo¢u8•d Inhlatlv
5,616,289
157,616
5,773,905
4,063,928
Of the total Donab'ons and Grants fwnised in 2021, £754,345 was considered re$lri¢ted. A breakdown ol this income
can be found in note 14.
An8ly818 of tumovor by Country of dfInall0n
2022
Total
2021
Total
Unrtod Kingdom
Rest of Europe
Rest of the world
28,029
152,375
5,593,501
,773,905
853,881
166,821
3,243,228
4,063,928
3 Oth•r Incom•
2022
Total
2021
Total
Unrestricted
Restricted
FOREX gain
77.516
77,516
27
Environmental Defense Fund UK
Notes to the financial statements (continued)
For the year ended 30 September 2022
4 Analysis of expenditure
Charitable activities
Support Govemance
costs
Costs
Climate
initiatives
2022 Total
2021 Total
Staff costs
Professional fees
Stsff travel
Rent
Office costs
Meetings
Subscriptions
General Adminislralion
Audit and accounts fee
2,782,895
1,884,406
157.686
2.782,895
1.884,406
157,686
365,836
41,088
348,838
37,010
126,396
45,030
1,912,295
1,590,097
8,414
317,197
46,115
222
14.574
33.976
79,402
365,836
41,088
348,838
37.010
126.3
45,030
4,824.987
919,168
45.030
5.789.185
4,002,292
Support costs
919,168
{919,1681
Governance costs
45,030
{45.0301
Total oxpend6turo 2022
5,789,185
5.789,185
Total expenditure 2021
4,002,292
4,002,292
Of the lolal expendrture incurred in 2022, £5,789,185 was unrestricled12021." £3,298.2001 and £157,816 was restricted
12021.. £704,093).
Professional fees relate to third paty services utilised in order to meet charitsble objectives. as well as services
required lo maintain the operational aspects of the Charity. such as HR and accountancy.
28
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
N818XP8ndltuTr forih• yr
This is stated after charging..
2022
2021
Op8rallNJ lease rentaL8'.
- Property
Depreciation
Amortisaiion
Auditors remunw¥btsi'.
- ALKlitfees
270.BO4
J7.3S4
8,238
271.109
15.537
10.986
44030
32.760
An8ly8h of8tth ¢08ts, tru*t•• r•murb•rnlloh •md •xp•th. Imd th• eo8tof kty maMy•mMt portomnol
Staffeosts %%ve as fc11..
2022
2021
Salarles aNI wa9èS
Soclal 8Urity8ts
Employer's conlribulh)n lo defined penxm schemes
Othw stsff costs
1,674,621
759,461
180,663
168,050
2,782,895
1,337,054
187.406
201.538
150.475
1,878,471
Tho follo¥Mng numbprof ¢mploy¢es tr*fi0fits1oxdudty tynpbyer p¢) gr¢aterth• £60.000 during IhB year..
202Z
2021
No.
£60.000- £68,999
£70,000. £78,999
E80,000- £89.999
E90,000- £99.999
£100,000- £109.999
£110,ODO- £119.999
£120,000. £129.999
E130,000- £139.999
£140,ODO- £149.999
£150,000. £1S9.999
£180,ODO- £169.999
The lolal 8mpby88 renumeratbn the key managemenl perstyind *ere E400.962 12021. E489.0761. Key managerffaDI person1 re delemilned lo
Ihe Execuli¥e Vice President. Regk)ns. Chief ExeaAi¥e and S¢rthy tlrec¢orol De¥do[nI In 2022 IM8n&oing Director, Execuvve Director and
DirectcK of Devebprronl in 20211.
Redun¢8ncy4nd lermin8lK)n cosls r¢lats"ng toemployees ¥%we £4*12021.. £nll
The charity Iru51ees were not Paid or receNed any other b2neffls fTom wblh the Trus1 or its Subdiary in the year12021". £nill neither were
Ihey reimbu[1 expenses during the s*ar 12021. Enll. No (*atity Injstee reved parni for k¥ofes*onal ar other setvKes suwAied lo the charity
staff
average number ofemrlo)*es Ihe•J c£wnt b3*J c¥) number 0fstth•WJ) duriNJtr* WaS as fra(rns".
202Z
2021
No.
EDF Europe UK
Slichlinu EDF Europe
14
25
29
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
Taxatlon
EDF UK and Stichting EDF Eur are exemptftDm N3blaX asai ts tharilatAeand ap for charitab purposes.
Tanglbl• Ilxed
EquipnEnt Ots Equipment
2022
2021
Coxt
At the start of the year
Additn5 in year
Al the ènd ofthtryear
65.70D
44.747
20,953
65.700
134.818
Amortliatlo
Al the 5t8rt of the ar
Charoe for the year
At the end of Ihe year
22,840
37,354
60.194
7.303
15,537
22,840
Not book valu•
At th• •nd of th• y•*r
74.624
42,860
Al th8 surt of Ihe ytar
42.860
37.444
l ol the abo¥8 8S8ets are used ts tharilable PUW8S.
Int•nglbl* Ilx•d ••••l•
Wobyto
Wobsito
D*ek>wneni De¥ek)pmgnt
2022
2021
Coit
Al the 5t8rt of tho year
Addit& in
Al the eNJ of the year
43.942
43.942
43.942
Amortl¥•tlon
Al the start of the year
Charae for the year
Al the end of year
35.704
8.2
43.942
24.718
10.986
35.704
N•t book v•lts•
At th• •nd of th• y•ai
8.238
Al the tstart of Ihe year
8.238
19.224
l of ihe above k$5ets •re f¢r t*ariiabl¢ wrp¢s¢s.
10 Debiof8
Grtyjp
2021
Char
2022
Parem Charbty
2022
2021
Trnde debtors
Amounts Dwed by group urKJertakws
PrepayYMnts
Aruued inrA)me
227.$52
112,8U
44,358
106,919
61.688
129,236
32.420
223.344
129.236
3Z.420
161.656
340.39$
151,277
30
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
11 Crndltorn: a1unts ialllng due wlthlt) on• year
Group
2022
Group
2021
P•rgnt Ch•rty
2022
Parent Charty
2021
Trade crajitors
Olher creditors
Accrua5
Amounl&owed lo group undertakings
Taxes and Sc¢kg1 Seeur
Deferred Inr4)rr
262.744
91,148
402,381
35.416
12.358
676.953
56.663
31.311
16.576
829.277
101.706
56,608
247867
35.416
12.358
665.384
55.818
16,1BB
772,461
16,1B8
421,669
16.576
818.863
12 Provllloni lor Ilabllhki
Group
2022
GrDUP
2021
Parent Charty
2022
P4rent Charity
2021
Ownino balarbce
AddilK)ns
Amounts charged 3gainsl the pro¥i5ion
Closing balance
0,000
12,630
12,6JO
18.630
18.630
6,000
T w0vis aty)ve h¥$ been mode10 ¢ty4erth¢Mstpfdilaptsbs w¥rise •1 the •KI ofthe Se torm on the w LondDn property. Thl
provIsn expecied to ba ubloed in 2025.
13 Anily*li ol n•t •**•ts btrtw••n fufith-eurr•rbty•*v IGFoupl
Lthre8tfthY Resldth
Total
T8n9lb 8888ts
Nel curreni asse
Provision5 f(K Iiatylitye5
N•t •180ts at th• •nd olth• y•ar
77.528
662.502
(18.6301
77.S28
662.602
IIB.6JQI
An8lysl¥ of nel 8s5e15 b•tywon fvnd5- fftr
R051rtthd
Total fvnds
T8NJibk fixed 888el&
Nei curreni asse
Provislon for 1k8b11e8
N818$S&tS al thè ofthe
51.098
614.
16.OWI
659.164
51.098
614.066
18,0001
659.164
of n•t i•¥•ts b•ts¥g•n In-CUrrnlyI IParnn¢ Ch•rltyl
Restiicted
T4)tsl f¥nd•
T8r01b fixed assets
Nel currem assets
Provision5 liatslitye5
Nèt ai*trt8 at th• •nd of the y•ar
59.548
600.723
(1J.6301
69.548
600.723
118.03QI
Analysi5 of ne¢ 8S5e15 beM*en fvnd5-
Re51ri(#ed
Total lunds
Tary1b fixed assets
Nei tUent assets
51.098
591.4C6
16.0001
51.098
591.406
16,0001
636.504
Nel as5e15 at the end ofthe
31
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
14 Movements in lunds-currpntyearlGroupl
At01
2021
Trtnsfe
At30 Sèptsmbèr2022
R88irl¢iod lund8'.
Children's Invesmenl Fund Foundalion
OceanoAzul Foundats(Mi
United Nati$ EnwronnEnl Progrdnvr
5.241
38.168
114.207
15.2411
(38.1681
1114.207>
Totsl rn8trl¢tedlund•
157,616
11S7.6161
Llnroitrlcted fundi..
General funds
6S9.164
5.693.804
{S.631.5701
721,398
Total uhroitrlct•d lun
669.164
6.693.804
16.631.S70
721.398
Total lund*
659.164
6MS1.420
{S.789.1861
721,398
Mmrn•nt• In fund¥-¢urrvnty••ilP•r•nt¢h•vMyl
Atol
2021
IrK(rfr• Exr*Kldurv
Transfe
At 30 Sgpt*mbgr2022
R•itrl¢t•d lund*'.
Childtsn's Invesbneni Fund Foundaiion
Oceano A2uI Foundaiion
United N8S Enwronm8ni Pmor8n¥ne
5,241
38,166
114,207
15.2411
138.1681
1114.2071
Tot•1 v•*trlct•d lund*
167.616
11S7.616
Unrn¥trlctsd fun41¥'.
General lund5
636.504
2.$86.112
12.586.112)
Tot•1 unr••¢rl¢t•d lund•
2.618.112
{2,Se6,112
T4)tsl lund¥
.74
32
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
Movements in fundi- prioryearlGroupl
Atol
2020
Trtnsfe
At 30 Soptsmb•r2021
Ro8trl¢ied lund8'.
Clean Fund. Brealhe London
Clean r Fund. Data Into
ean Fund. Through TT3ffic
Children's Inveslmenl Fund
anoAzul Foundation
Uniltd Nations Environment Pmoran*
181.879
29.920
39.(
346.72S
50,959
105,862
1181.8791
139.0001
1346.7251
150.9591
(74.4281
131.4341
Totsl restrlcw tund¥
Unreotrlcted fundi..
General luNJs
597,$29
3,309,583
13.298.2
50.252
669.164
Totsl unrestrlctsd fund¥
597,$29
3,J09,SBJ
13.298.2001
50.252
669.1
Tot•1 lund•
697,$29
4,0$3,928
14.002.293
669.164
Mtsv•m•thts In lund*- prlory•*rlPar•nt Ch•rltyl
Atol
2020
ExFthYKure
Transfe
At 30 S•phmb•r2021
R••irl¢iod lund•'.
Clean Fund.. Brealhe Londtyi
Clean Fund. Da Inlo
Clean Fund. Through Traffic
Children's Inveslmenl Fund
QGeano knul Foundalion
UniiÉd NÈbons Environmèni Pmoranw
181,879
29.920
39.ON)
346.725
50.959
105.862
1181.8791
139.0001
1346.7251
150.9591
174.4281
131,4341
Totsl r••¢rl¢fvd lund•
Uthrnitrl¢t•d fundi..
Genernl lur$
574,869
2.938.878
12.927.495>
50252
Totsl unr•itrl¢tsd lun
174169
12.927.49$1
10,202
Totsl lunds
174,869
3,693223
13,8Jl,SU
1S Optrratlng ltra•• t•mmkn*rbts
Total futur6 mlnlmum leas8 paYts uTr3w1g0rWalIrj al•S
2022
2021
Less than 1 year
2-5y8ars
Grealerlhan 5 rS
270,804
366,513
270.804
637.317
637,317
908.121
33
Environmèntal Dèfènsè Fund UK
Notes to the financial statements leontlnu8dl
For thè year 8nd8d 30 S8Ptember 2022
16 Legal 8tstu¥ ol Iho charfty
The charity i5 3 cpar}Y lifflited by gUatee arKI has no she •. member i51th to ¢thte a Sum notvArEediry £1 in the event ofthe
charity being Vllmjnd up.
17 Rel•tsd party tr4nsa¢tlon•
Tre are no (nati5 from related parlie5*ththare crrtjrse of ne$sand SInGted donation5from rdate(J pae$.
DUn¢ the wr th8 LynSsalknn rec8Ned a granl 01 £5.593.501 12021". £3.2432281 frcth EDF Inc. Indud*J ¥%ilhin d8btors fallng dug vlbthln one year Is
an amount 0 ai the end of the wr by EDF I. ol 27.55212D21.. £55.618 (Yeditorwas 10 EDF Ire I Included *thin the grant from EDF Inc
W55 £3,045,570 to coverlhe (reratyro costs of the Stichbr*J. This was subwuenlty regrwrted by EDF Europe lo the Sbchting. At the end ol the year a
debtOrtsaL4 of £129.536 YKd5 med by EDF IrL to Sbthbng.
Mr. Roland KuPe. a txHrd mefflberof EDF UKand of Sbchbng Ef* Ewrye. Th p1 Euro 28k ty EDF IrKduriry FY22. under rA)ntract as a Senior
SclènEe Advisor lo the EDF Office of thè Chf Scnb$1.
Mr5. Hannah Ryder. a board memtw ol EOF UKand of SIKhbThJ EDF Ewop8. comp8n8atsd wa her affilaied *al entity. D8¥ah)prwdnl Rdmagined
Ltd. GBP 6k for the costs as80iated 1h tra¥d and in al Afvica Cknate Week.
Mr5. Andrea Moroea. a trt)ard wember ol EDF UK and ofsbthbw EDF Eurwe. to becrmr•isated ty Stichting EDF Europe for hOrtr9 and
accommodation expenses in(rred duriry the rwrfed Peri in IhearrK)unl ofarts G8P 575.
Dunng the reported period, br rnemt*r5 01 EDF UK and ofSbcthbTra EDF Eur¢ Mr. Cart Fer•ibxh and Mrs. knjrea p3ffjcipatsd
èi a dlnnèr méèting wbth EDF UK maw8m8ni." Ihtr peral b6n8fi101th8 Irustttts not trxtthd GBP 200 for each.
18 Condult lundlng
Durfng the year, EDF UK re1¥¢($ £27k from the LeVir Famty Found8kn 12021. £48kl. Th• Foundation spwfied Iwthis funding was Intended to
SUPP(Kt EDF Inc'5 Inth)nesan f15ts1i05 and asked fry d lo be tyary*lwred lo EDF IK The fuKJino was rVed inlo EDF UK'5 b&nk awounl bul
w8$ Immediately Iransferred, in full, to EOF Inc. in ac(%)tdant* *ith Ihtr FtyJndatiM's intén. EDF UK has tts81ed btsih this and Ihe funds recèlved In
FY21 as condull fundlng and as srth. has ude0 thè tsf*)an&*
19 Po•t Balanco Sheet E¥•nts
On November 16. 2022 sbchbng EDF Europe enlerèy into an 8greemenlwith 8 partyfc*8Se ofoffice space In Brussels, Belpium vthich ends
January 31. 2032. In IU of a bank ouarantse. Ihe kwaoreed 10 acceo a cash deposrf from EDF Ir. ol EUR 103.962.50 (USD 8quivalenl
$109,503.70). EDF IK provided ilws on No%vrthr 30. 20T2.
34
Environmentsl Defense Fund UK
Notes to thg financial statements (continued)
For the
ear ended 30 September 2022
20 Stichting EDF Europo Statement of Financial Activities
2022
2021
Unr8Stricied Restricted
Total Unrestrictsd Restricted
Total
Income from..
Donations and grants
3.045.570
3.045.570
370.705
370,705
Total Income
3.045.570
3,045.570
370.705
370,705
Expendltur* on..
Charitable 8etNite$
3.045.457
3,045.457
370.705
370,705
Total expenditure
3.045.457
3,045.457
370.705
370,705
Net movom8nt in funds
113
Reconclllatlon of lunds..
Total lund5 brought foward
22,660
22,660
22,660
Total funds carried forward
22.773
22.773
22.660
22,660
l ofiha atth8 resLIt8 are dedwed from cononuw
Therewere no recc¥n15ed gains or hS01her1 thw 51•ted
Tho 0ii¥h¢d n¢¢o$fomi porto1th¢s¥ fin•rKW wiom*iM.
35