2023-06-30-accounts - Pec Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Report ofthe Trustees	1	to	4
Report ofthe Independent Auditors	5	to	6
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement		10
Notes to the Financial Statements	11	to	23
Detailed Statement of Financial Activities	24	to	25

outstanding acfivities end commitme Grant Funding Agreements;	outstanding acfivities end commitme Grant Funding Agreements;	nts will be incur	red	or delive	red in the follo	wing financial year and e	videnced by t
Year ending 30June 2023
Restricted Funds:
Household Support	Fund 4	The carry over of		unspent	monies		f270,817
Innovate UK Owning	Nst Zero	Income received		in advance ofspend			81,360
Carbon
Redress 2023-24 Warm Homes		Early stage	in projecL Funding received			in advance ofeligible	662,120
		spend
Redress 2022-2024	FOOD	Funding received		in advance of spend			F101,831
Big Lottery Warm and Well 2		Income paid	in advance		up to 31 August	2022	628,182

						30.603	30.6.22
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	7	E	f
INCOME AND ENDOWMENTS		FROM
Donations	and legacies			68,620		68,620	63,378
Charitable	activities
Sustainable	development			284,622	1,661,031	1,845,653	2,021,448
Investment	income					766
Total				344,000	~1861028	~1905028	~2,084 826
EXPENDITURE ON
Raising funds			5	1,164			785
Charitable	activities		6
Sustainable	development			~186220	1,603,351	~1789,671	~1517,437
Total				~187384	~1603351	~1790736	~1518222
NET INCOME/(EXPENDITURE) Transfers between funds			17	156,816 ~24 228)	(42,323) ~24 228	114,293	565,604
Net movement In funds				132,388	(18,095)	114,293	556,604
RECONCILIATION OF FUNDS
Total funds	brought forward			607,808	482,405	990,013	423,409
TOTAL FUNDS CARRIED FORWARD				~639998	~464310	~1104306	990,013

		Group	Charity	Group	Charity
		2023	2023	2022	2022
	Notes	F	5	8	5
FIXEDASSETS
Tangible assets	13	10,880	5,975	7,887	7,887
Investments	14		1		1
		10,880	5,976	7,887	7,888
CURRENTASSETS
Debtors Cash at bank	15	375,692 ~833271	385,906 ~754425	406,604 ~734936	405,604 ~734935
		1,208,963	1,140,331	1,141,639	1,141,539
CREDITORS
Amounts felling dus within one year	16	(115,637)	(82,874)	(169,413)	(159,414)
NET CURRENT ASSETS		1 093426	1 057457	982 124	982 125
TOTAL ASSETS LESSCURRENT UABIUllES		1,104,306	1,053,443	990,013	990,013
NET ASSETS		1,104,306	1,053,433	990,013	990,013
FUNDS
Unrestncted funds		639,996	599,123	507,808	507,608
Restncted funds		464,310	464,310	482,405	462,405
TOTAL FUNDS

						Con	li	ated	Cash Flow	tement
						For	Th	Y	Ended 30Jun
										30.6.23	30.5.22
						Notes				8	5
Cash flows from	operating			acthiltles
Cash generated from Tax paid		operations								96,690 ~8396	448,890
Net cash provided	by	operating			activities					~105086	448,890
Cash flows from	investing			activities
Purchase of tangible		fixed assets								(7,606)	(10,500)
Interest received										756
Net cash used in	investing		activities							~6760)	~10500)
Change In cash	and	cash		equivalents		In
the reporting period										98,336	438,390
Cash and cash equivalents				at	the
beginning ofthe	reporting			period						~734936	~296545
Cash and cash equivabrnts				at	the end	of
the reporting period										~833271	~734935

	N to the Con oli d Cash Flow ment Fo Y r Ended 2023	N to the Con oli d Cash Flow ment Fo Y r Ended 2023
RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM OPERATING		ACTMllES
			30.6.23	30.6.22
				5
Net Income for the Acthrltles)	reporting	period (as per the Statement of Financial	114,293	556,604
Ad]ustments for: Depreciation charges			4,612	2,613
Interest received			(766)
Decrease/(increase) (Decrease)/increase	in debtors in creditors		30,912 ~62 272	(196,240) ~75 913
Net cash provided	by operations		~96 690	~446 890

ANALYSIS OF CHANGES IN NET FUN	DS
	At 1.7.22	Cash flow	At 30.6.23
	E	5	6
Net cash
Cash at bank	~734 936	~98336	~833271
	734936	~98336	~833271
Total	~734 936	~98 336	~833 271

Further explanation ofthe nature	Further explanation ofthe nature	Further explanation ofthe nature	and purpos	e ofeach fund is included	in the notes to the financial	statements.
DONATIONS AND LEGACIES
					30.6.23	30.6.22
					8	F
Donations					~66 620	~63 378
INVESTMENT INCOME
					30.6.23	30.6.22
					5
Interest receivable					755
INCOME FROM CHARITABLE			ACTIVITIES
					30.6.23	30.6.22
			Activity		5
Grants			Sustainable	development	1,546,031	1,812,468
Other grant income Contract income			Sustainable Sustainable	development development	25,649 ~273773	13,735 195,245
					~1846863	~2,021 448
Grants received, included in	the		above, are as follows:
					30.643	30.6.22
					f
Plymouth City Council - Solar		Panel installation				7,658
Energy Saving Trust - Redress Power To Change Trust					507,143	558,340 42,369
Plymouth City Council - Green			Homes Grant			66,758
MCS Charitable Foundation					6,000	20,000
Eligibility Webtool					2,500	22,500
Household Support Fund MEES Landlord Project					620,000	746,831 71,582
National Grid Warm Homes						66,000
Plymouth Net Zero Partnership					13,920	24,960
Sustainable Warm (formerly	LAD3)				369,919	100,224
Warm and Well 2 (from Big	Lottery)				106,883	85,246
Plymouth Energy Community IUK - Owning Net Zero		Ltd			6,000 ~16666
					~1546031	1,812,488

RAISING FUNDS
Raising donations	and	legacies
							30.6.23 f	30.0.22
Support costs							~1164	785
CHARITABLE ACTIN/ITIES COSTS
							Support
					Direct		costs (see
					Costs f		nots 7) f	Totals f
Sustainable development					~1669	861	~129710	~1789671
SUPPORT COSTS
							Governance
			Management f	Finance f	Other f		costs f	Totals f
Raising donations and
legames Sustainable development			1,069 ~116129	77	40 ~4472		65 ~9032	1,164 129 710
			~117188	77	~4512		~9097	~130874
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated	after charging/(crediting):
							30.6.23 f	30.6.22 f
Auditors' remuneration							2,046	1,900
Depreciation -owned	assets						~4612	~2613

The Group
		Unrestricted	Restricted	Total
		funds	funds	funds
		f		5
INCONIE AND ENDOWMENTS	FROM
Donations and legacies		63,379		63,378
Charitable activities Sustamable development		~190780	~1,830667	~2,021 448
Total		254,159	~1830,667	~2084,826
EXPENDITURE ON
Raising funds		785		785
Charitable activities Sustainable development		~36858	~1480,579	~1517437
Total		37,643	1,480,579	1,518,222
NET INCOME Transfers between funds		216,516 ~3666)	350,088 ~3666	566,604
Net movement in funds		212,850	353,754	566,604
RECONCILIAllON OF FUNDS
Total funds brought forward		294,758	128,651	423,409
TOTAL FUNDS CARRIED FORWARD		~507608	~482405	~990013

TANGIBLE FIXEDASSETS
The Group
	Plant and	Motor	Computer
	machinery f	vehicles	equipment f	Totals f
COST
At 1 July 2022 Additions	9,600	1,000	~7606	10,600 ~7606
At 30June 2023	~9600	1,000	~7606	~18006
DEPRECIATION
At 1 July 2022 Charge for year	2,609 3,167	104 224	~1121	2,613 ~4612
At 30June 2023	~6878	328	~1121	~7126
NET BOOK VALUE
At 30June 2023	~3824	872	~8384	~10 880
At 30June 2022	6,991	896		~7887
FIXEDASSET INVESTMENTS
The Charity				Shares in
				gl'oup
				undertakings f
MARKET VALUE
Cost
NET BOOK VALUE
At 31 March 2023				1
At 31 March 2022				1

				The Group	The Charity
			30.06.23 5	30.06.22 5	30.06.23f	30.06.22
Trade debtors			231,370	267,567	231,370	267,567
Other debtors			39,630	11,578	67,567	11,578
VAT			67,565	53,428	49,621	53,428
Accrued income Prepayments			34,041 ~13088	70,750 ~3271	34,041 ~3307	70,760 3271
			~376692	405,604	~386906	405,604
16.	CREDITORS:	ANIOUNTS	FALLING	DUE WITHIN ONE YEAR
				The Group	The Charity
			30.06.23f	30.05.22 5	30.06.23 5	30.06.22 5
Trade creditors			22474	120,601	14,226	120,501
Taxation	and social		8,396
security
Accruals	and		8,817	38,812	68,647	38,812
deferred	income
Other creditors			76 650
		~tt5 537		159,413	~82 874	~159414


					The Group			The Charity
			30.06.23f			30.05.22 5	30.06.23 5		30.06.22 5
reditors				22474		120,601	14,226		120,501
n and social				8,396
s and				8,817		38,812	68,647		38,812
income
reditors				76 650
			~tt5 537			159,413	~82	874	~159414
MOVEMENT	IN FUNDS
The Group
							Net	Transfers
							movement	between	At
						At 1.7.22	in funds	funds	30.5.23
							5		5
Unrestricted	funds
General fund						432,108	166,616	61,272	639,996
Redundancy Future TUPE	cost provision transfer					36,000 ~39600		(36,000) ~39600)
Restricted funds						507,608	156,616	(24,228)	639,996
Redress						176,798	(29,237)	17,389	163,951
Green Homes	Grant					6,991	(6,991)
Eligibility Webtool							(7,240)	7,240
Household Support Fund						222,328	48,490		270,817
MEES Landlord project							(228)	228
National Grid	warm homes					10,666	(10,665)
Plymouth Nst	Zero					16,004	(16,004)
Sustainable Warm (formerly				LAD3)			629	(629)
Warm and Well 2 (from Big				Lottery)		32,419	(4,237)		28,182
Sail GP Innovate UK Owning		Net	Zero			18,200	(18,200) ~1360		~1360
						482,405	42,323	24,228	~464 310
TOTAL FUNDS						~990013	~tt4 293		1~104,306

Net movement in funds,	indu	d in the above	are as follows
				Incoming	Resources	Movement
				resources f	expended f	in funds f
Unrestricted funds
General fund				344,000	(187,384)	166,616
Restricted funds
Redress				527,140	(566,377)	(29,237)
Green Homes Grant					(6,991)	(6,991)
MCS Chartiable Foundation				6,000	(5,000)
Eligibility Webtool Household Support Fund MEES Landlord project National Grid warm homes				2,500 628,000	(9,740) (479,510) (228) (10,666)	(7,240) 48,490 (228) (10,666)
Plymouth Net Zero Sustamable Warm (formerly LAD3) Warm and Well 2 (from Big Lottery)				13,920 361,920 105,883	(29,924) (361,291) (110,120)	(16,004) 629 (4,237)
Sail GP Innovate UK Owning Net Zero				~16666	(18,200) ~16306)	(18,200) ~1360
				~1561,029	~1603362)	~42,323)
TOTAL FUNDS				1 906,029	~1,790,736)	114293
Comparatives for movement		in funds
				Net	Transfers
				movement	between	At
			At 1.7.21 f	in funds	funds f	30.6.22
Unrestricted funds
General fund			142,258	218,518	73,334	432,108
Redundancy cost provision			17,000		19,000	38,000
General overhead provision			10,000		(10,000)
Management support cost provision Future TUPE transfer			80,500 ~45 000		(80,500) ~5500)	39,500
			294,758	218,518	(3,686)	507,608
Restricted funds
Homes England				(592)	592
Solar Panel Installation			19,108	(19,108)
Cohesive Communities Redress	Fund		3,315 41,724	(3,315) 133,252	822	175,798
Power To Change			25,180	(25,180)
Vlnter Grant Fund			5,510	(4,888)	(822)
Green Homes Grant				8,991		6,991
MCS Chartiable Foundation			10,000	(10,000)
Moths to a Flame			23,814	(28,888)	3,074
Household Support Fund National Grid warm homes				222,328 10,665		222,328 10,885
Plymouth Net Zero Warm and Well 2 (from Sail GP	Big Lottery)			18,004 32,419 ~18 200		16,004 32,419 18,200
			~128551	~350 088	~3885	~482 405
TOTAL FUNDS			~423 409	~558 504		990,013

							Incoming	Resources	Movement
						resources		expended	in funds
							6	F
Unrestricted funds
General fund							254,159	(37,643)	216,516
Restricted funds
Homes England Solar Panel Installation							7,658	(592) (26,766)	(592) (19,108)
Cohesive Communities Redress	Fund						558,339	(3,315) (425,087)	(3,315) 133,252
Power To Change							42,369	(67,549)	(25,180)
Winter Grant Fund								(4,688)	(4,688)
Green Homes Grant							66,758	(59,767)	6,991
MCS Chartiable Foundation							20,000	(30,000)	(10,000)
Moths to a Flame								(26,888)	(26,888)
Eligibility Webtool							22,500	(22,500)
Household Support Fund							746,831	(524,503)	222,328
MEES Landlord project							71,582	(71,582)
National Grid warm homes							66,000	(55,335)	10,665
Plymouth Net Zero							24,960	(8,956)	16,004
Sustainable Warm (formerly				LAD3)			100,224	(100,224)
Warm and Well 2 (from Sail GP	Big Lottery)					85,246 ~18200		(52,827)	32,419 ~18200
						~1830667		~1,480 579	~350088
TOTAL FUNDS						2	084 826	~1518222)	~566604
A current year 12 months		and		prior year 12 months	combined	position	is as follows:
							Net	Transfers
						movement		between	At
					At 1.7.21 5		in funds f	funds F	30.6.23 5
Unrestricted funds
General fund					142,258		373,132	124,606	639,996
Redundancy cost provision					17,000			(17,000)
General overhead provision					10,000			(10,000)
Management support cost		provision			80,500			(80,500)
Future TUPE transfer					~45 000			~45,000)
					294,758	373,132		(27,894)	639,996
Restricted funds
Homes England							(592)	592
Solar Panel Installation					19,108		(19,108)
Cohesive Communities Redress	Fund				3,315 41,724		(3,315) 104,015	18,211	163,950
Power To Change					25,180		(25,180)
Nlinter Grant Fund					5,510		(4,688)	(822)
MCS Chartiable Foundation					10,000		(10,000)
Moths to a Flame					23,814		(26,888)	3,074
Ehgibility Webtool							(7,240)	7,240
Household Support Fund						270,818			270,818
MEES Landlord proiect							(228)	228
Sustainable Warm (formerly			LAD3)				629	(629)
Warm and Well 2 (from Big Lottery) innovate UK Owning Net Zero						28,182 ~1360			28,182 1,360
					128,651	307,765		~27 894	464 310
TOTAL FUNDS					423409	680,897			1~104306

A current year 12 m as follows:	onth	s an	combined nst movement in	funds, induded	in the above ar
			Incoming	Resources	Movement
			resources	expended	in funds
			6		5
Unrestricted funds
General fund			598,159	(225,027)	373,132
Restricted funds
Homes England				(592)	(592)
Solar Panel Instafiation			7,658	(26,766)	(19,108)
Cohesive Communities		Fund		(3,315)	(3,315)
Redress			1,085,479	(981,464)	104,015
Power To Change			42,369	(67,549)	(25,180)
Nlinter Grant Fund				(4,688)	(4,688)
Green Homes Grant			66,758	(66,758)
MCS Chartiable Foundation			25,000	(35,000)	(10,000)
Moths to a Flame				(26,888)	(26,888)
Eligibility Webtool Household Support Fund MEES Landlord project			25,000 1,274,831 71,582	(32,240) (1,004,013) (71,810)	(7,240) 270,818 (228)
National Grid warm	homes		65,999	(65,999)
Plymouth Net Zero Sustainable Warm (formerly LAD3) Warm and Well 2 (from Big Lottery)			38,880 462,144 191,129	(38,880) (461,515) (162,947)	629 28,182
Sail GP Innovate UK Owning	Net Zero		18,200 ~16666	(18,200) ~15306)	~1360
			~3391,695	3,083,930	307,765
TOTAL FUNDS			3989854	~3308957)	~680 897

The Chanty
				30.6.23	30.6.22
		Unrestricted	Resbicted	Total	Total
		funds	funds	funds	funds
		6	6	6	6
INCOME AND ENDOWMENTS	FROM
Donations and legacies		68,923	27,997	86,920	63,378
Charitable activities
Sustainable development		212,391	1,633,031	1,745,422	2,021,488
Investmentincome		765
Total		272,069	1,661,028	1,833,097	2,084,826
EXPENDITURE ON
Raising funds		1,166		1,186	785
Charitable activities
Sustainable development		166,162	1,603,360	1,768,612	1,517,437
Total		158,327	1,603,360	1,759,677	1,518,222
NET INCOME/(EXPENDITURE)		116,742	(42,322)	73,420	566,604
Transfer between funds		(24,228)	24,228
Net movement in funds		91,514	(18,094)	73,420	566,604
RECONCILIAllON OF FUNDS
Total funds brought forward		607,608	482405	990,013	423,409
TOTAL FUNDS CARRIED FORWARD		699,122	484,311	1,063,433	990,013

				30.06.23	30.06.22
				f	f
Turnover				374,070
Other income				80,000
Staff costs				(364,129)
Depreciation	and other amounts	written	off assets	(492)
Other charges				(40,180)
Taxation				(8,396)
Retained loss/profit				I 3

		Detag tatementof	Detag tatementof	Fin	n ial Activities
		For The Y	n	30June
		30.6.23		30.6.23		30.6.22	30.6.22
		f			F	6	6
		Group		Charity		Group	Charity
INCOME AND ENDOWMENTS
Donations and legacies Donations		58,620			58,620	63,378	63,378
Investment Income
Interest		755			755
Charitable activities
Grants		1,546,031		1,541,031		1,812,468	1,812,468
Other grant income		25,849			25,849	13,735	13,735
Contract income		3		206,842
		1,845,653		1,773,722		2,021,448	2,021rt48
Total Incoming	resources	1,905,208		1,833,097		2,084,826	2,084,826
EXPENDITURE
Charitable activities
Subcontractors		161,615			161,615	164,848	164,848
Consulting Crisis and repair Management recharges Legal fees Supply & installation Fuel vouchers		89,748 83,543 660,533 42,397 159,497			89,748 83,543 581,450 29,878 159,497	176,606 34,319 312,891 54,737 36 183,924	176,606 34,319 312,891 54,737 36 183,924
Agency stafi White goods Gas safety repairs Credit customer		134,352 5,562 74,263 172,370			134,352 5,562 74,263 172,370	196,271 82,486 24,606 163,232	196,271 82,486 24,606 163,232
payments Grants to other		72,250			147,250	17,573	17,573
organisations
Workshops		3 731 1,669,861		3731 1,843gea		2tL267 1,439,696	2II21i77 1,439,696
Supportcosts
Management Insurance		6,955			4,768	5,405	5,405
Telephone Postage snd		3,357 852			1,599 831	1,324 247	1,324 247
stationery Advertising		22,320			21,438	8,071	8,071
Subscriptions Vehide lease		2,267 3,059			1,877 2,935	1,644 1,922	1,644 1,922
IT software and		45,911			50,438	40,308	40,308
consumables
Staff training Sundry		16,994 10,742			15,249 2,180	6,401 849	6,401 849
Donatlofls		400			400
Rent		4331			4 333		4~13
		117,188		108,048		70,007	70,007

			30.6.23f	30.6.23 F	30.6.22	30.6.22 E
			Group	Charity	Group	Charity
Finance
Bank charges			77	52	56
Other
Plant and	machinery		3,167	3,167
Motor vehides			224	224	104	104
Computer	equipment		1 12	629
			4,512	4,020	2,613	2,613
Governance		costs
Auditors'	remuneration		2,045	2,045	1,900	1,900
Accountancy		fees		4,255		50
			9,097		6,860	6,860
Total resources
expended			1,790,735	1,759,677	1,516,222	1,518,222
Net			114,293	73,420	668,604	686,604
(expenditure)/Income