Charity Registration No. 1185599
THE BAYWIND ENERGY COMMUNITY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
THE BAYWIND ENERGY COMMUNITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Angela Scrogham Richard Scott Annette Heslop MBE John Millen Helen Slater David Humphries Matthew Rooke Sam Ronson
Charity number 1185599 Independent examiner Melville & Co Unit 17-18, Trinity Enterprise Centre Furness Business Park Ironworks Road Barrow-in-Furness LA14 2PN
THE BAYWIND ENERGY COMMUNITY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7-11 |
THE BAYWIND ENERGY COMMUNITY TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 APRIL 2024
The trustees present their report and financial statements for the year ended 30 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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 (FRS 102) (effective 1 January 2019)".
Objectives and activities
The charity's objects are;
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To promote the conservation, protection and improvement of the physical and natural environment in particular by providing grants for the installation and raising awareness of renewable energy sources and energy efficiency, technology and solutions.
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The prevention or relief of poverty or financial hardship by providing assistance to the people who are in fuel poverty.
The policies adopted in furtherance of these objects are to make grants to individuals and to organisations and to provide relevant advocacy, advice and information and there has been no change in these during the year.
In planning and carrying out the charity's activities the trustees are always aware that such activities must be for the public benefit. As such the trustees confirm that they have had due regard to the Charity Commission's published guidance on the 'public benefit' motive.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance Object 1
The trustees conduct meetings by Zoom and respond quickly to applications using email. Applications received are accompanied by two quotes and additional information relating to the community benefit of the proposed energy saving project. The improvement to the dedicated generic email has ensured that responses to applications and questions from groups has become more efficient. The social media aspect has improved with several Trustees appointed as Admin.
Trustees attended several local events to promote funding opportunities are available to local community groups. Using leaflets and a promotional banner at each event. Following these events several applications were received and approved. These networking opportunities have been useful in connecting with other organisations.
This year the Trust supported a variety of applications including Solar PV, Energy Audits, Batteries, heating options, LED Lighting, double glazing and contributions to warm spaces helping to alleviate fuel poverty.
A key focus for the Trustees has been to improve the application and review processes. Trustees have been following up with site visits and phone calls to provide extra support to groups. Social Media content has increased from other groups, as more groups use this method to showcase their energy projects and connect with BWECT online.
| Groups supported during the year: | |
|---|---|
| Castle Park School | LED Lighting |
| Grizedale Arts | Heating |
| Burton Memorial Hall | LED Lighting |
| Ulverston Ford Park | Solar PV |
| Wigton Rugby | Energy Audit |
| The Ashton Group Theatre | LED Lighting |
| Helsington & Brigsteer Village Hall | Solar PV |
| Millom Rugy League | Energy Audit |
| Ulverston Food Project | LED lighting |
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THE BAYWIND ENERGY COMMUNITY TRUST
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
| Windermere Angling Association | Aeration Batteries connected to solar |
|---|---|
| Crosthwaite School | Solar PV |
| Rookhow Barn | Double glazed windows and doors |
| Cockermouth Scouts | Energy Audit |
| Kendal Trinity Church | LED Lighting |
| Walney Community Hall | Battery for solar PV system |
| Vision Support Barrow | Solar PV |
| Mobius loop | AV equipment batteries connected to solar |
| Emmanuel Christian Centre | Double glazed windows |
| Swarthmoor Reading Rooms | Draughtproofing/windows |
| RainePower Community Hydro | Hydo generation |
Object 2
Chitter Chatter Group @ Better Leisure Ulverston Warm Spaces Contribution Barrow Citizens Advice Fuel Poverty Contribution
Future:
The Trustees will continue to attend local events relating to energy saving and climate change and provide advice and support to community groups. The Trustees will continue to review the follow up reporting process and look at improving the website content.
Objective 2, the trustees will continue to promote this objective at local events and the wider community.
Charities Funded
14 Charities funded in this year amounting to £76,159.57
Financial review
The results for the year are summarised in the Statement of Financial Activities on page 4. This was the third year that The Baywind Energy Community Trust was a registered charity and in the year the incoming resources increased substantially by £52,132 (79%) to £118,039. Expenditure (other than governance costs) increased by £29,537 (35%) to £113,166. This led to an increase in total fund balances (or unrestricted) of £4,201 to £21,605.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a trust governed by a deed dated 27 September 2019. On 3 October 2019 it became a registered charity with a charity number of 1185599.
The trustees who served during the year and up to the date of signature of the financial statements were:
| Angela Scrogham | |
|---|---|
| Richard Scott | |
| Annette Heslop MBE | |
| John Millen | |
| William Shaw | resigned 16-04-2024 |
| Helen Slater | |
| David Humphries | |
| Matthew Rooke | |
| Sam Ronson | appointed 16-04-2024 |
The trustees are people with considerable interest and experience in the renewable energy sector, who are able to draw on their past experience in the sector. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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THE BAYWIND ENERGY COMMUNITY TRUST
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
The trustees' report was approved by the Board of Trustees.
Dated: .........................
Richard Scott
Trustee
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THE BAYWIND ENERGY COMMUNITY TRUST
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF THE BAYWIND ENERGY COMMUNITY TRUST
I report to the trustees on my examination of the financial statements of The Baywind Energy Community Trust (the charity) for the year ended 30 April 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Simon Oram Melville & Co
Chartered Certified Accountant Unit 17-18, Trinity Enterprise Centre Furness Business Park Ironworks Road Barrow-in-Furness LA14 2PN
Dated: .........................
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THE BAYWIND ENERGY COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Notes | |||
| Income from: | |||
| Donations and legacies | 3 | 117,880 | 65,677 |
| Investments | 4 | 159 | 230 |
| Total income | 118,039 | 65,907 | |
| Expenditure on: | |||
| Charitable activities | 5 | 113,838 | 84,273 |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | 4,201 | (18,366) | |
| Fund balances at 1 May 2023 | 17,404 | 35,770 | |
| Fund balances at 30 April 2024 | 21,605 | 17,404 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE BAYWIND ENERGY COMMUNITY TRUST
BALANCE SHEET
AS AT 30 APRIL 2024
| 2024 Notes £ Current assets Cash at bank and in hand 22,277 Creditors: amounts falling due within one year 10 (672) Net current assets Income funds Unrestricted funds The financial statements were approved by the Trustees on ....................... Richard Scott Trustee 03/02/2025 |
£ 21,605 21,605 21,605 |
2023 £ 18,048 (644) |
£ 17,404 |
|---|---|---|---|
| 17,404 | |||
| 17,404 | |||
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THE BAYWIND ENERGY COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1 Accounting policies
Charity information
The Baywind Energy Community Trust is a charitable trust governed by a deed dated 27 September 2019.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 April 2020 are the first financial statements of The Baywind Energy Community Trust prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 May 2018. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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THE BAYWIND ENERGY COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
1 Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
All expenditure is accounted for gross and when incurred. Charitable expenditure includes the costs of all activities carried out, with the exception of costs incurred for governance purposes.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE BAYWIND ENERGY COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
| 3 | Donations and legacies | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 117,880 | 65,677 | |
| Donations and gifts | |||
| High Winds Community Energy Society Limited | 100,000 | 50,000 | |
| Mean Moor Wind Farm Ltd | 17,740 | 15,538 | |
| Other | 140 | 139 | |
| 117,880 | 65,577 | ||
| 4 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 159 | 230 | |
| 5 | Charitable activities | ||
| Renewable | Renewable | ||
| energy | energy | ||
| promotion | promotion | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Grant funding of activities (see note 6) | 112,767 | 83,629 | |
| Share of support costs (see note 7) | 399 | - | |
| Share of governance costs (see note 7) | 672 | 644 | |
| 113,838 | 84,273 |
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THE BAYWIND ENERGY COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
6 Grants payable
| Grants payable | ||
|---|---|---|
| Renewable | Renewable | |
| energy | energy | |
| promotion | promotion | |
| 2024 | 2023 | |
| £ | £ | |
| Grants to institutions: | ||
| Churchwalk Nursery (insulation and double glazing) | - | 10,879 |
| Emmanuel Christian Centre (new windows) | 8,069 | 8,232 |
| Barrow Citizen Advice Bureau (alleviate fuel poverty) | 7,500 | 5,000 |
| Bethany Church (LED lighting and energy efficiency measures & insulation) | - | 2,914 |
| Barrow Sea Cadets (PV Panels) | - | 5,700 |
| Swarthmoor Quaker Meeting (energy audit) | - | 1,410 |
| Energy Local Duddon Valley (energy savings) | - | 4,950 |
| Dalton Rugby Club (LED lighting) | - | 3,614 |
| Fairfield Mill, Sedbergh (energy audit) | - | 750 |
| Aldingham Parish Hall (LED lighting) | - | 6,665 |
| Lindal Bowling Club (LED lighting) | - | 3,000 |
| Barrow Cricket Club (LED lighting) | - | 6,021 |
| Brantwood Trust (energy audit) | - | 2,300 |
| Sandylands Methodist Church (solar PV and batteries) | - | 5,733 |
| Furness Rugby Club (PV panels) | - | 10,000 |
| Age UK, Barrow (warm space programme) | - | 5,000 |
| Gateway Church, Kendal (warm space programme) | - | 1,000 |
| Distribution of LED light bulbs to local foodbanks | - | 461 |
| Bottle & Co (banner design) | 150 | - |
| Burton Memorial Hall (LED lighting) | 3,618 | - |
| Castle Park School (LED lighting) | 4,537 | - |
| Chitter Chatter/Better Leisure Ulverston (warm space contribution) | 1,500 | - |
| Cockermouth Scouts (energy audit) | 1,500 | - |
| Crosthwaite School (solar PV) | 3,000 | - |
| Grizedale Arts (heating) | 6,000 | - |
| Helsington & Brigsteer Village Hall (solar PV) | 3,500 | - |
| Kendal Trinity Church (LED lighting) | 5,000 | - |
| LMR Creative (banner and flyers) | 267 | - |
| Millom Rugby League (energy audit) | 2,340 | - |
| Mobius Loop CIC (AV equipment batteries) | 4,000 | - |
| Rainepower (Groyne Installation) | 4,917 | - |
| Rookhow (double glazed windows & doors) | 5,000 | - |
| Swarthmoor Reading Rooms (draught proofing/windows) | 7,600 | - |
| The Ashton Group Theatre Barrow (LED lighting) | 5,000 | - |
| Ulverston Food Project (LED lighting) | 3,393 | - |
| Ulverston Ford Park (Solar PV) | 12,500 | - |
| Vision Support Barrow (Solar PV) | 10,000 | - |
| Walney Community Hall (battery) | 6,480 | - |
| Wigton Rugby (energy audit) | 1,500 | - |
| Windermere Angling (aeration batteries) | 5,396 | - |
| 112,767 | 83,629 |
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THE BAYWIND ENERGY COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
7 Support costs
| Support costs | |||
|---|---|---|---|
| Support Costs Governance costs £ £ Website Hosting 400 - Accountancy - 672 - 672 Analysed between Charitable activities - 672 |
2024 £ 400 672 1,072 1,072 |
Support Costs Governance costs £ £ - - - 644 - 615 - 644 |
2023 £ - 644 |
| 885 | |||
| 644 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
There were no employees during the year.
10 Creditors: amounts falling due within one year
| Accruals and deferred income | 2024 £ 672 672 |
2023 £ 644 644 |
|---|---|---|
11 Related part transactions
Two of the trustees of The Baywind Energy Community Trust, John Millen and Annette Heslop, are also directors of High Winds Community Energy Society Limited which donated £100,000 (2023 - £50,000) to the charity in the year.
Annette Heslop is also a director of Mean Moor Wind Farm Ltd which donated £17,740 (2023 - £15.538) to the charity in the year.
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