## Reduce Our Carbon Charitable Foundation 

Trustee’s Annual Report and Financial Statements For the Year Ended 31[st] March 2022 

www.reduceourcarbon.org 

Registered 

Charity Number 1188256 



## **Table of Contents** 

|**Table of Contents**||
|---|---|
|**CHARITY INFORMATION**|**3**|
|**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022**|**4**|
|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**|**7**|
|**BALANCE SHEET AS AT 31ST MARCH 2022**|**8**|
|**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**|**9**|
|**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**||
|**(CONTINUED)**|**10**|



www.reduceourcarbon.org 

Registered Charity 

2 Number 1188256 



## Charity Information 

Trustees 

Mrs Amanda Spicer (Chair) 

Ms Megan Neathway 

Mr Andrew Walsh-Perez 

Ms Megan Neathway 

Secretary Ms Megan Neathway Registered Charity Number 1188256 Principal Address Old Church School Butts Hill Frome BA11 1HR 

www.reduceourcarbon.org 3 Registered Charity Number 1188256 



Report of the Trustees for the Year ended 31[st] March 2022 

## **Introduction** 

The trustees present their annual report together with the financial statements of the charity for the year ended 31[st] March 2022. 

The  financial  statements  have  been  prepared  in  accordance  with  the 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 (FRS102) (effective 1 January 2015) (amended 2 February 2016 and further updated 1st January 2019) as detailed in the accounting policies. 

## **Structure, Governance and Management** 

Reduce Our Carbon Charitable Foundation (the “Charity”) was registered as a charitable  incorporated  organization  on  27[th] February  2020  registered number 1188256. 

Trustees are appointed by the board of Trustees and meet at least four times a year to approve funding requests and deal with the governance of the Charity 

The introduction process for newly appointed Trustees comprises an initial meeting with the Trustees to brief them on their legal obligations under charity law, the decision making processes of the charity and its policies and procedures. 

## **Risk Management** 

The Trustees have examined the major strategic, business and operational risks  that  the  charity  faces  and  confirm  that  the  systems  have  been established to ensure regular reports are produced for Trustees to ensure all necessary actions are taken to lessen risks. 

## **Public Interest** 

The  Trustees  have  complied  with  the  duty in  section  17(5)  of  the  2011 Charities  Act  to  have  due  regard  to  guidance  published  by  the  Charity Commission in respect of public benefit and in planning the activities for the year, have kept this in mind. 

## **Objectives and Activities** 

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The purpose of the charity is to promote the conservation of the natural environment and the advancement of public education therein with particular reference to deforestion and other effects of the release of carbon dioxide emissions into the atmosphere and the encouragement of afforestation. 

To  further  these  purposes  for  the  public  benefit,  the  Charity,  funded  by founding  sponsor  Your  Eco  Construction,  set  up  a  volunteer-supported reforestation pilot project in Boaco, Central Nicaragua. The objective of the project was to establish a community-based agroforestry model that would help  prevent  deforestation  by  providing  families  with  recurring  incomes through the use of native fruit trees. 

The main participants in the project are rural farming communities that have limited sources of income and depend primarily on family and community labour to work small holdings typically ranging from 0.25 to 5 acres. 

The project provides immediate financial support by paying participants to collect and replant saplings from within the community as well as to harvest branches for use as fence posts that regerminate and become live fences. This method ensures that only trees that are already native to the region are used. The planting fees are paid in two instalments with the second payment made in the following year to ensure participants are incentivized to ensure saplings survive through the dry season, typically December to April. 

In addition to the immediate financial support paid to participants through planting fees for the live fences, the Charity matches each live fence and sapling  planted  one-for-one  with  a  native  fruit  tree  (e.g  orange  and mandarins) which, on average, takes three years to mature. 

## **Achievements and Performance** 

The pilot project proved to be extremely successful with 42 families from 2 communities (La Reyna and Tule) signing up to join the project. The live fence and sapling planting took place early in the planting season, from April to June in 2020, with fruit trees being delivered from May through August 2020. The fruit trees when mature will yield both a source of food as well as income. 

2020 

- ●Planted 7,930 trees including 3500 fruit trees 

- ●Immediate income from planting fees to project participants 

- ●Recurring income after 3 years from fruit crops 

|www.reduceourcarbon.org||5|Registered|Charity|
|---|---|---|---|---|
||Number|1188256|||





- ●42 families took part in the pilot project 

- ●Project sponsor, Your Eco Construction Ltd, offset its annual carbon footprint 

- ●Trained 4 local coordinators to support and supervise planting activities 

- ●Secured planting pledges from nearby communities wanting to join the project 

The global Covid pandemic impacted the foundations activities during 2021 and early 2022. But inspite of the difficult conditions the foundation was able to continue to support community agroforestry activities and still ensure that Covid safeguarding practices were adhered to. As  such an additional 15 families joined the programme and along with existing members were able to plant over 8000 more trees. The delivery of fruit trees was deferred due to the Pandemic until the 2022 planting season 

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## **Financial Review** 

The Charity received £5400 during the year from sponsors including £5360 Your Eco Construction Ltd to fund the planting of 8,033 trees and to provide further funding to help support the Charity’s start-up activities. The financial objective of the Charity is to secure additional funding to support further agroforestry activities. 

Work was also undertaken during the year to develop a website to publicize the Charity’s activitie. The Charity also secured the  help of a volunteer Executive Director to help develop the growth and expansion strategy for the Charity. 

## **Plans for Future Periods** 

The Trustees are keen to expand the Charities fundraising activities to fund the demand from rural communities in Nicaragua wishing to take part in tree planting activities. 

## **Approval** 

This report was approved by the Board of the Trustees on 25[th] January 2022 and signed on its behalf by: 

Amanda Spicer 

Chair of Trustees 

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## Statement of Financial Activities for the year ended 31[st] March 2022 

||Notes|2022|2021|
|---|---|---|---|
|||GBP|GBP|
|Income From:||||
|Donations||5400|6,085|
|Total Income||5400|6,085|
|Expenditure on:||||
|Charitable activities||5250|5,940|
|Totalexpenditure||5250|5,940|
|||||
|Net income before other||150|145|
|recognized gains or||||
|(losses)||||
|Net movements in funds||150|145|
|for the year||||
|Funds carried forward as||150|145|
|at31stMarch 22||||



All income and expenditure in the current Statement of Financial Activities was unrestricted. 

The Statement of Financial Activities includes all gains and losses recognized in the year. 

The notes on pages 8 to 10 form part of these financial statements. 

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## Balance Sheet as at 31[st] March 2022 

||Notes|2022|2021|
|---|---|---|---|
|||GBP|GBP|
|Fixed Assets||||
|Total Fixed Assets||||
|Current Assets||||
|Cash at bank and in hand||150|145|
|||150|145|
|||||
|Net current assets||150|145|
|Net Assets||150|145|
|Funds||||
|Unrestricted funds||250|145|



The financial statements on pages 8 to 10 were approved by the Trustees on 25[th] January 2023 and were signed on its behalf by: 

## Amanda Spicer 

Chair of Trustees 

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Notes to the financial statements for the year ended 31[st] March 2022 

## **1. Accounting policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **CIO information** 

Reduce Our Carbon Charitable Foundation was registered as a charitable incorporated organisation on 28[th] February 2020 and is governed by a constitution dated February 2020 and registered with the Charity Commission under charity number 1188258. The charity’s principal office address Old Church School, Butts Hill, Frome, BA11 1HR 

## **Accounting Convention** 

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 (“Charities SORP (FRS102)”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015 (amended 2 February 2016 and further updated 1st January 2019) 

Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

The financial statements have been prepared to give a ‘true and fair’ view and 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 Charities SORP (FRS 102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

Reduce Our Carbon Charitable Foundation meets the definition of a public benefit entity under FRS 102. 

## **Going Concern** 

The Trustees have at the time of approving the financial statements a reasonable expectation  that  the  charity  has  adequate  resources  to  continue  in  operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **Income** 

Income is recognised in full in the Statement of Financial Activities (“SoFA”) in the year in which it is receivable.Gifts in kind are recognised in the SoFA as income at the fair value of the goods, services or assets gifted at the date of the gift. 

Interest income from cash deposits and listed investments is recognised in the accounts gross, when receivable. 

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Number 1188256

Notes to the financial statements for the year ended 31[st] March 2022 (Continued) 

## **Expenditure** 

Expenditure (excluding grants) is included in the SoFA on an accruals basis. 

## **Grants** 

Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted  for  as  grants  payable  when  either  the  recipient  has  a  reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital. 

## **Debtors** 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. 

## **Creditors, loans and provisions** 

Creditors,  loans  and  provisions  are  recognised  where  the  Charity  has  a  present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. 

## **Fund Accounting** 

All funds received in the year are unrestricted in their application, the Trustees having full discretion over their use. 

## **Critical accounting and estimates** 

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

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The Trustees have judged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. 

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|**2.**<br>**3.**|**Income**<br>2022<br>£<br>2021<br>£<br>**Income from donations**<br>Your Eco Construction Ltd<br>5360<br>6085<br>Others<br>40<br>**Charitable Activity Expenditure**<br>2022<br>£<br>2021<br>£<br>**Expenditure**|
|---|---|
||Project direct expenditure<br>5250<br>5940|



There were no staff employed by the charity (2021– no staff employed). 

The Trustees received no remuneration or benefits from the charity during the year (2021: none). 

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