2023-03-31-accounts

Chelveston Wind Farm Community Benefit Fund Trust

Trustees’ Annual Report 2022-23

This report meets the requirements of Section 11 Charities (Accounts and Reports) Regulations 2005 , and provides information on how the Charity aims to meet the public benefit test in line with Section 4 Charities Act 2006 .

Background

The Chelveston Wind Farm Community Benefit Fund Trust (aka “The Wind Farm Trust”) was created on 31[st] March 2014 and is a community benefit delivery vehicle for the four parishes (Chelvestoncum-Caldecott, Dean and Shelton, Hargrave, and Melchbourne and Yelden) adjacent to the Chelveston Renewable Energy (CRE) Wind Farm. It is funded annually by CRE under two legally binding S106 agreements (one for each Local Planning Authority) and its purpose is to distribute grants to organisations within the four parishes that meet the Trust’s criteria.

The four parishes each provide two Trustees who all serve a 4 year term, with half the Trustees standing down every two years.

Activities undertaken in 2022-23.

The Charity Commission agreed the change to the (2018) Trust Deed to allow the Trustees the option to hold Trust meetings virtually, and the new (2022) Trust Deed was executed in August 2022.

Ever since the Trust had been formed, its website had been hosted on a sub-domain of Chelvestoncum-Caldecott Parish Council’s community domain, as a quick and simple solution in the early stages of setting up the Trust. Now that the Trust was more mature, the Trustees decided it was time to move to a dedicated domain owned by the Trust (www.windfarmtrust.org.uk).

One new Trustee had been appointed by their Parish Council to replace a Trustee who had resigned. Four Trustees will retire at the end of their term in 2023.

With the welcome rise in interest rates, the Trustees agreed to increase the amount of funds held in the savings account, which should yield over £1,000 interest in 2023-24.

A total of 12 enquires were received, resulting in 8 applications in year, all granted in full.

The Trustees are required to consider the submitted applications against the charitable objectives of the trust, being -

The object of the charity is the promotion of any charitable purposes for the benefit of the community in the civil parishes of Chelveston-cum-Caldecott in the county of Northamptonshire, Dean and Shelton in unitary district of Bedford Borough, Hargrave in the country of Northamptonshire, and Melchbourne and Yelden in the unitary district of Bedford Borough as the Trustees see fit

The most commonly used charitable purposes used were –

The provision of facilities for recreation and other leisure-time occupation in the interests of social welfare with the object of improving the conditions of life for the persons for whom they are intended, and public works and services and the provision of public amenities.

The Trustees have to ensure that each parish receives a nominal 25% share of the funds distributed, but this is over a five year period, not in every year.

Applications received ranged from the repairs to / improvements of community facilities (churches and village halls) to providing song books for a community choir.

However, the Trustees were also mindful that any grant applications needed to be sound in respect of the benefits that would be gained through the award of the Trust’s funds. To this end a number of awards were made subject to conditions.

The amount awarded in year was £18,543.57. Additionally £10,700.00 was added to the Hargrave Reserve.

Charity Registration number 1180828

The grants were split amongst the four parishes as follows –

		Share of	Share of
Parish:	Grants awarded	grants in	grants all
	in year:	year	years
Chelveston-cum-Caldecott	£2,700.00	6.00%	24.78%
Dean & Shelton	£12,150.00	27.00%	23.35%
Hargrave	£550.00	1.22%	9.19%
Melchbourne & Yelden	£3,143.57	6.99%	32.40%

One parish received slightly more than 25% funding in year, whilst the others received significantly less. The Trustees are mindful that grants can only be made in accordance with the Trust’s criteria and that any unspent allocations are carried over to the next year. This accounts for the percentages above not totalling 100%.

One parish continues to lag the others (share all years), but the Trustees are mindful that this parish has accumulated a significant reserve for a future amenity land purchase.

Accounts for FY2023-23.

Summary:

Summary:
Income		Expenditure
£58,882.68 £36,770.68 £239.86 B/F Capital Interest £95,893.32		£18,543.57 Grants £275.38 Admin £18.00Governance £16,836.95 Excess Receipts over £77,056.27Payments £95,893.32

Income:

The Expendable Capital (i.e. capital receipts that can be spent) consisted of the S106 payment from Oct 22. This enjoyed a larger RPI uplift in accordance with the S106 agreements.

The earned income was the £239.86 bank interest, which is an improvement on recent low interest rates.

Expenditure:

The bulk of the expenditure was the grants, as would be expected. Administration consisted of bank charges (£72.00), the ICO fee (£40.00) and the purchase of the website services (£163.38). Governance was the auditor’s fee (2021-22) only, as no meeting room hire fees this year.

Excess Receipts representedby	Excess Receipts representedby	Excess Receipts representedby	Excess Receipts representedby
£14,000.00		Carryover to H1 nextFY
£22,418.00		Hargrave PC restrictedreserve
£9,525.49		Environmentalprojectrestricted reserve
£31,112.78		Unused
£77,056.27

Charity Registration number 1180828

The excess income includes an annual carry over amount, currently set at £14,000, to fund the Trust for the first 6 months of the next FY, i.e. until the next Expendable Capital S106 payment from CRE Ltd is received in October, and two restricted reserves.

Any unused income is carried over to the next year.

Audit:

The accounts were audited by Avril Harlow of Higham Ferrers, who is independent of the Trust.

The audited accounts and the Trustees Annual Report (this document) were adopted by the Trustees at the Annual Meeting, which was held on 23[rd] August 2023.

Mark Hunter Clerk to the Trustees 23[rd] August 2023

Charity Registration number 1180828

CHARITY COMMISSIO FOR ENGIANO ANO WALE ch￿¥+$10n F•rm Cofflmunlty 8on•fft Fund Tru•t 1180828 Receipts and payments accounts CC16a For the porlod from Yo 0110412022 31K1312023 Section A Receipts and payments Unr•8trl¢ted fund• Re8tr1¢ted fund¥ Endowment fund• toth• M•r••t£ tolh n•r•t£ toth• n•rnt e Totsl fund• L88t y•ar toth• n•w••t £ A1 R￿•1 BBnk Inieresi Annu81 S106 240 enl Sub tot•lfGross income for AR) J•,TYi 37.011 ,7fjJ A2 Absot •nd Inb*th•nt Ml••, (Boe tabl•l. Sub total ,' Tol•l r•c•lpts 240 36,771 37.Ql1 32,75J A3P• onts Gr8nty Admin costs 10,044 276 14,644 27$ 18 Sub total 18.137 26,1JO A4 A•••t •nd In¥••tm•nt urchaM•, •9• tsbl• Sub total 18,837 18,837 25.130 Not ofr•c•lpts/fpaymgnts) A5 Trnnsf•rn bth•on fun A6 C•Dh fund8 la•t y•ar end Cash furKls thls year end 18.837 1,024 44,709 26,89 240 36,771 18,174 7.823 3S,747 14,174 SO,160 58.883 77.058 51,260 68,883 CCXX R18ccDunts ISSI

Section B Statement of assets and liabilities at the end of the period Unr•#trtcted lund Restricted fund• Endowm•nt funds C#tsgorle• Details to rwwrF¥l£ Bl C•$h fund# UT8 Curremc UTB 00.160 Totsl cash fvnds 26,896 10,1•0 Unr••tslet•d lund• to nMmt£ Rwtrl¢ted fund• Endowm•nt lund• to r￿Tr•I £ Fundtowh CuMntvlu• Detalls 83 Invmlrnent a￿ets undto whkh urrqrtvalu• Drfa113 84 ￿••1• r•tsln•d for th• Char￿,¥ own u•• Fupo to wh¢h D•tall• onal BS Llabllltlos SKJned by one or t￿￿ trusts85 on behaL¢ of all th8 tFU5tees Date of roval an8tur8 Print Nam& 23n)8r2023 CCXX R2 Iss)

Chelvoston Wmd Farni Communlty 8•n•fft Fund Accounts for 2022-23 ecelpts ment• £58,882.68 81F £36.770.68 Captsl £239 86 Interest £O.(K) Mix. £18,$43.57 Grants £275.38 Admin £18.00 Govem £18.836.95 £77,0&fj.27 Excess Re￿Ipts over Paym £0.00 ch8cksum £95.893.22 £14.000.00 £22,418.00 £9,525.49 £31.112.78 Carry over to H1 ￿xt FY Hargra¥e PC restrthj rese Reserves (excl Environm￿la1) ,418.00 Unus&J £O.fKI C1￿ks￿M £77,056.27 Bank Reconclllotlon at 31st IAarch 2023 £77,056.27 £o.cy) £77,05627 £26.896.14 Current &lc £50,160.13 [*￿sIt alc Unpresented dwues Chaimian uth Cknk k/.1 Auditor Signed: Swned.. tr% FI¢￿-"-