2024-03-31-accounts

Chelveston Wind Farm Community Benefit Fund Trust

Trustees’ Annual Report 2023-24

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 2023-24.

In accordance with the Trust Deed, four Trustees completed their 4-year term in 2023 and were reappointed by their respective parishes. One new Trustee joined the Trust following replacement by a parish.

With the continued higher level of interest rates, the Trustees earlier decision to increase the amount of funds held in the savings account resulted in over £1,300 interest in 2023-24.

A total of 19 enquires were received, resulting in 17 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 funding “dark age” re-enactors for a parish flower & county show.

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 £28,741.45. Additionally, £13,325.00 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 in year:	grants in year	grants all years
Chelveston-cum-Caldecott	£2,229.95	7.76%	25.42%
Dean & Shelton	£5,975.00	20.79%	25.45%
Hargrave	£1,675.00	5.83%	9.75%
Melchbourne & Yelden	£18,861.50	65.62%	39.38%

One parish received significantly more than 25% funding in year, whilst two 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.

One parish continues to lag the others (share all years), but the Trustees are mindful that this parish has accumulated a significant reserve (over £46,000) for a future amenity land purchase.

Accounts for FY2023-24.

Summary:

Summary:
Income		Expenditure
£77,056.27 £40,115.41 £1,327.71 B/F Capital Interest £118,499.39		£28,741.45 Grants £182.78 Admin £46.00Governance £16,836.95 Excess Receipts over £89,529.16Payments £188,499.39

Income:

The Expendable Capital (i.e. capital receipts that can be spent) consisted of the S106 payment from Oct 23. This enjoyed a larger RPI uplift in accordance with the S106 agreements.

The earned income was the £1,327.71 bank interest.

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 website domain (£70.78). Governance was the auditor’s fee (2022-23) (£30) and a room hire for a face to face meeting (£16).

Excess Receipts representedby	Excess Receipts representedby	Excess Receipts representedby	Excess Receipts representedby
£10,000.00		Carry overtoH1 next FY
£46,443.00		HargravePCrestricted reserve
£9,525.49		Environmentalprojectrestricted reserve
£23,560.67		Unused
£89,529.16

Charity Registration number 1180828

The excess income includes an annual carry over amount, which the Trustees have reduced to £10,000, 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 independently examined by Ken Owst FCMA CGMA, of Milton Ernest, who is independent of the Trust.

The accounts and the Trustees Annual Report (this document) were adopted by the Trustees at the Annual Meeting, which was held on 31[st] July 2024.

Mark Hunter Clerk to the Trustees 31[st] July 2024

Charity Registration number 1180828

CHARITY COMMISSION FOR ENGLANO AND WALES Chel¥Mton Wlnd F•mi Ctynfflun￿ Bon•fft Fund Trimt 1180828 Recei ts and payments accounts CC16a For the perlod from To 0110412023 3110312024 Section A Receipts and payments UnrMtdct•d fund• to Ihw n•rn•t Endowm•nt funds Tot•1 fund8 fvnd• La•¢ yg•r toV n•ar•Bt£ to th• M•rn•t£ A1 Recel Bank Intertrsi Ann￿￿ s1[￿ ni (Endu￿} 40.116 40,115 Sub total(Gross income for AR? A2 As•ot and InvHkn••)t •al••, 40.118 41.143 37,011 Sub tot•1 1,320 40.110 41,443 37,011 A3P• m•nt• Gfani$ Admin coats 28.741 28,741 18.S44 270 Sub total 28,970 20,970 18,lJ7 A4 A¥••t and In¥g•tm•nt ur¢ha••8, •ee tsblo Sub total 28,970 28.970 18.837 Net of rvcolpts/fpaym•nts) AS TT•n•fern b•hveen fund• A6 Ca8h lund¥ l••t y•ar end Cash lunds thls year •nd 28,970 40.115 26.896 38.041 1,328 40.115 12,473 18,174 50,160 st.488 77,056 89.529 5B.883 77.056 CCXX R1 aettsjnts ISSI 30K)712024

Section B Statement of assets and liabilities at the end of the period Unrestrl¢tsd fund• Fest £ Restrlcted funds Endowment funds Categorie¥ D¢tall8 81 C•sh fund• UTB Cul￿t 38,041 UT8 s&virvJB $1.48B Totsl cash funds 30.041 51.488 Unrg•trlct•d lund8 to nwrn•t£ R￿trtCted lund• to n•ro•t£ Endowment lund8 to n¥rn•t£ Detail F￿n￿ towhlcb ••t b•1 Detallg eo•l lopkn• CuTY•ntv•lu• on•1 B3 In¥o•tm•ni ￿••1 Fund lowhl¢h ••••t b•lon 0•ts118 Co•t lo￿0n￿lI ¢¥rr•rrt ¥•lu• In•1 84 A•••ts r•t•ln•d for tho Gh•rlty'• own u•• Fund fvwhlcb *mounl du• Wh•rt due l)etalls 86 Ll•bllltl S￿ned by one tsr ts¥o Iru8t088 on behaff of 811 trust Dale of rov81 s￿natUr9 Prlnt Naffle CCXX R2 Bccounts ISSI 3010712024