**Charity Registration Number: 1192453**
## **Protect Earth**
## **(a Charitable Incorporated Organisation)**
**Annual Report and Financial Statements For the Period Ended 31 March 2024**
|**Contents**|**Page**|
|---|---|
|Reference and administration information|1|
|Trustees’ annual report|2|
|Independent examiner’s report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Cash flow statement|8|
|Notes to the financial statements|9|
**Protect Earth**
## **Reference and Administration Information**
|**Trustees**|Edd Stone (resigned 9thAugust 2024)|
|---|---|
||Phil Sturgeon|
||Andy Herd|
||Julian Cheal (appointed 9thAugust 2024)|
||Neill Aitken (appointed 1stNovember 2024)|
|**Registered Charity Number**|1192453|
|**Registered Office**|International House|
||10 Churchill Way|
||Cardiff|
||CF10 2HE|
|**Independent Examiners**|Purple Lime Accountancy Limited|
||Hartham Park|
||Corsham|
||Wiltshire|
||SN13 0RP|
|**Bankers**|Lloyds Bank PLC|
||1 Legg St|
||Chelmsford|
||Essex|
||CM1 1JS|
1
**Protect Earth**
## **Trustees’ Annual Report for the Period Ended 31 March 2024**
## **Aims and Objectives**
Protect Earth is a Charitable Incorporated Organisation registered in the United Kingdom with the Charity Commission (no. 1192453).
The charity’s objects are:
- 1) To promote for the benefit of the public the conservation and preservation of the environment by promoting reforestation and afforestation; and
- 2) For the public benefit, to advance education in climate change and the mitigation of its harmful effects on the environment by:
- a) The provision of resources and guidance materials on mitigation methods; and
- b) Directly supporting forestation projects taken on by other individuals and organisations.
## **Review of Activities and Achievements**
Protect Earth was registered with the Charity Commission on 20[th] November 2020 and has had significant successes, working with multiple landowners across England, Wales, and Scotland and 108,991 trees planted since registration. The charity has purchased two plots of land: High Wood near Liskeard, Cornwall and Goytre Wood in Powys, Wales. Software has been developed to enable trees planted to be logged with photographs, GPS coordinates, and other key metrics to enable partner funding.
Relationships have been developed with a number of key partners to enable expectations of further expansion for the charity’s charitable purposes. The Trustees have plans in place to enable 50,000 trees to be planted during the 2024/25 planting season.
## **Public Benefit**
During the year under review Protect Earth has delivered public benefit through its engagement with landowners and other stakeholders to contribute to climate change action in the UK.
Since the purchase of High Wood we have been working on improving paths, benches and access for a variety of users, adding nesting boxes for wildlife, and managing the existing timber on site responsibly to encourage natural regeneration with regenerative thinning.
The Trustees have complied with section 17(5) of the 2011 Charities Act, having due regard for the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives.
## **Structure, Governance And Management**
Protect Earth is registered as a Charitable Incorporated Organisation with the Charity Commission for England and Wales. It is governed by its Constitution 23 August 2020, last amended by special resolution on 17 November 2020.
Trustees are normally elected by the current Board of Trustees in a general meeting. Protect Earth is actively using specialist agencies to recruit trustees to diversify and strengthen our Board. Once candidates have been found and have applied, the Trustees will conduct interviews and reviews to select and appoint appropriate trustees.
Each new trustee will receive induction sessions with the Chair, where they are provided with the background to the charity and receive guidance on their role and responsibilities as a trustee of the charity. Training is provided to new Trustees by reference to the Charity Governance Code and the Charity Commission’s ‘The Essential Trustee’ guidance.
During the reporting period the Board of Trustees oversaw the charity’s strategic decision making alongside all aspects of its operational decisions. Since the period end a team has started to be developed to delegate these operational decisions.
Relationships and transactions with related parties are recorded as they occur. A register of declared interests is maintained by the Secretary and reviewed on an annual basis. Please see Note 16 of these financial statements for details of relationships and transactions with related parties during the year.
2
**Protect Earth**
## **Trustees’ Annual Report for the Period Ended 31 March 2024 (continued)**
## **Financial Review**
During the reporting period to 31 March 2024 incoming resources have been recorded of £166,995 (2023: £337,302). This income consisted mainly of donations and planting funding partnerships. Resources expended during the period have totalled £161,073 (2023: £133,567), of which the majority relates to purchases of saplings and other direct costs of reforestation activities.
The charity’s total reserves at the reporting date amount to £736,134 (2023: £730,212) which has exceeded budgeted activity for the reporting period. Of this balance £697,206 (2023: £638,689) is held for restricted purposes, which are explained in detail at Note 12.
## **Reserves Policy**
It is the intention of the Trustees that the freely available reserves of the charity should be accumulated up to a level sufficient to ensure the continuance of its activities should there be an unexpected short-term fluctuation in income. These freely available reserves are unrestricted funds not committed or invested in tangible fixed assets. A sufficient level of free reserves would guarantee the continuation of the charity’s activity, whilst decisions and actions were taken to find other sources of income or reduce the level of a particular activity.
The Trustees considers that an appropriate level of free reserves is approximately three months’ normal expenditure, plus a contingency allowance for unforeseen commitments. At the reporting date the charity’s free reserves were in excess of this requirement.
## **Going concern**
The Trustees have given due consideration to the charity’s ability to meet its obligations for the foreseeable future. Given the robust reserves policy in place and the Trustee consider it is appropriate to adopt the going concern principle in preparing these financial statements.
## **Remuneration of Key Management**
Key Management Personnel consists solely of the charity Trustees, none of whom are remunerated for their services. Transactions with Trustees during the period are disclosed at Note 15 to the financial statements.
## **Plans for Future Periods**
In order to maximise impact on its charitable objectives it is more effective to focus efforts on one area of reforestation. This requires continued acquisition of land that can be specifically targeted for reforestation and habitat creation to promote biodiversity. The Charity continues to explore opportunities to acquire land for this purpose. We continue to collaborate with landowners foresting activities – both in facilitation of new projects and the maintenance of existing projects.
## **Principal Risks and Uncertainties**
The charity continues to operate in a period of economic uncertainty and rapid change within the United Kingdom. The charity’s plans for future periods are largely dependent on sourcing additional finance and are subject to fluctuations in valuation of agricultural land.
The Trustees consider the risks and uncertainties that it faces are surmountable and have taken appropriate steps to identify and address all such risks as they may arise.
## **Responsibilities of the Trustees**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
3
**Protect Earth**
## **Trustees’ Annual Report for the Period Ended 31 March 2024 (continued)**
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Statement of Disclosure to Independent Examiners**
So far as the Board of Trustees are aware:
- There is no relevant information of which the charity’s independent examiners are unaware; and
- They have taken all steps that they ought to have taken as Trustees in order to make themselves aware of any relevant information and to establish that the Charity’s independent examiners are aware of that information.
Purple Lime Accountancy Limited will be proposed for reappointment as Independent Examiners.
Signed by order of the Board of Trustees
SIGN **Andy Herd** Trustee
Date:
4
**Protect Earth**
## **Independent Examiner’s Report to the Trustees of Protect Earth**
We report to the charity trustees on my examination of the accounts of the company for the period ended 31 March 2024, which are set out on pages 6 to 15.
This report is made solely to the charity’s Trustees, as a body, in accordance with section 154 of the Charities Act 2011 (‘the Act’). The independent examiner’s work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s Trustees as a body for my independent examiner’s work, for this report, or for the opinions we have formed.
## **Responsibilities and basis of report**
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Act.
We report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out this examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
We are qualified to undertake the examination being member firm of The Association of Chartered Certified Accountants.
On completing my examination, we confirm that no material matters have come to my attention in connection with the examination giving cause to believe that in any material respect:
- a) accounting records were not kept in respect of the charity as required by section 130 of the Act; or b) the accounts do not accord with those records;
- c) the accounts 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; or
- d) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
We 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 accounts to be reached.
Purple Lime Accountancy Limited
Date 9[th] January 2025
5
**Protect Earth**
## **Statement of Financial Activities (incorporating an income and expenditure account) For the period ended 31 March 2024**
|Notes
**Income from:**
Donations
2
Charitable activities
3
**Total**
**Expenditure on:**
Charitable activities
**Total**
4
**Net income and movement**
Transfers between funds
12
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
12|Unrestricted
funds
£
23,351
117,023|Restricted
funds
£
26,621
-|**Total**
**funds**
**2024**
**£**
**49,972**
**117,023**|Total
funds
2023
£
218,708
118,594|
|---|---|---|---|---|
||140,374|26,621|**166,995**|337,302|
||102,244|58,829|**161,073**|133,567|
||102,244|58,829|**161,073**|133,567|
||||||
||38,130|(32,208)|**5,922**|203,735|
||(14,351)|14,351|**-**|-|
||23,779|(17,857)|**5,922**|203,735|
||15,149|715,063|**730,212**|526,477|
||38,928|697,206|**736,134**|730,212|
6
**Protect Earth**
## **Balance sheet as at 31 March 2024**
|Notes
**Tangible fixed assets**
7
**Current assets**
Debtors
8
Cash at bank and in hand
**Current liabilities**
9
**Net current assets**
**Non-current liabilities**
10
**Net assets**
**Funds**
Restricted funds
12
Unrestricted funds
12
**Total funds**|**2024**
**£**
**664,542**
**52,412**
**96,096**
**148,508**
**(36,603)**
**111,905**
**(40,313)**
**736,134**
**697,206**
**38,928**
**736,134**|2023
£
686,677
53,771
70,161|
|---|---|---|
|||123,932
(22,056)|
|||101,876
(58,341)|
|||730,212|
|||715,063
15,149|
|||730,212|
The Trustees acknowledge their responsibilities for:
(a) ensuring that the organisation keeps proper accounting records; and
(b) preparing accounts which give a true and fair view of the state of affairs of the
The accounts have been prepared in accordance with 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 financial statements were approved by the Board on ............................................ and were signed on its behalf by:
SIGN
.............................................
Phil Sturgeon Trustee
7
**Protect Earth**
## **Cash flow statement for the period ended 31 March 2024**
|Notes
**Cash flows from operating activities**
14
Increase in cash at bank and in hand during the year
Cash balances at the start of the financial year
**Cash balances at the end of the financial year**|**2024**
**£**
**25,935**
**25,935**
70,161
**96,096**|2023
£|
|---|---|---|
|||(73,762)|
||||
|||(73,762)|
|||143,923|
|||70,161|
The following notes form part of these financial statements
8
**Protect Earth**
**Notes for the period ended 31 March 2024**
## **1 Accounting policies**
## **1.1 Legal status of the charity**
Protect Earth was founded in the United Kingdom as a Charitable Incorporated Organisation (charity number 1192453) on 20 November 2020. Its registered address is Hartham Park, Hartham, Corsham, Wiltshire, SN13 0RP. The number of members as at 31 March 2024 was three (2023: three), as disclosed in the Trustees' Annual Report.
## **1.2 Basis of preparation**
The financial statements have been prepared in accordance with 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).
## **1.3 Going concern**
The financial statements are prepared on the going concern basis. The charity has reported strong financial performance during the reporting period.
The charity holds a strong financial position at the reporting date and the Trustees have set a robust reserves policy to ensure all foreseeable financial commitments can be met as they fall due.
## **1.4 Income**
Grants, donations and other income are credited to the statement of financial activities in the year to which they relate. Grants and donations will be recognised on an accruals basis, when receipt is probable and amounts are measureable. Other income, including investment income, is recognised on an accruals basis.
Income is recognised when the conditions of entitlement, probability and measurement have been met, unless it relates to a specific future period, in which case it is deferred. Contract income is recognised over the life of the assignment or upon the satisfactory completion of milestones where these exist.
## **1.5 Expenditure**
Expenditure is accrued as soon as a liability is considered probable. Charitable activities include expenditure associated with the provision of reforestation services and includes both the direct costs and support costs relating to these activities.
Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements and are included within support costs.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Only assets costing in excess of £500 are capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
- Land and Buildings 4% on reducing balance basis Plant and machinery 25% straight line
9
**Protect Earth CIO**
**Notes for the period ended 31 March 2024**
## **1.7 Creditors**
Creditors are recognised when 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 are normally recognised at their settlement amount after allowing for any trade discounts due. Concessionary loans received which are repayable on demand are measured at the amount received and no adjustment is made.
## **1.8 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.9 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 of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.10 Taxation**
As a charity the organisation is exempt from UK corporation tax to the extent that its income is applied to its charitable objects. No liability arose in the period.
The charity is registered for VAT.
## **1.11 Funds**
The unrestricted income fund consists of funds to be used for the purposes of the charity’s objectives at the discretion of its Trustees, and to meet overheads.
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 Note 12 to the financial statements.
## **1.12 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **1.13 Critical accounting estimates and key sources of estimation uncertainty**
Preparation of the financial statements requires management to make judgements and estimates. The Trustees consider that there are no material judgements or sources of estimation in applying accounting policies.
10
**Protect Earth**
## **Notes for the period ended 31 March 2024**
|**2**
Donations
**3**
Grant funding
**4 Analysis of total expenditure**
Direct
costs
£
**Charitable activities**
Reforestation activites
68,213
**Total expenditure**
**68,213**
**Incoming resources from charitable activities**
**Donations**|Support
costs
£
96,818
**96,818**|**2024**
**£**
**49,972**
**49,972**
**2024**
**£**
**117,023**
**117,023**
**2024**
**£**
**165,031**
**165,031**|**2023**
**£**
**218,708**|
|---|---|---|---|
||||**218,708**|
||||**2023**
**£**
**118,594**|
||||**118,594**|
||||2023
£
133,567|
||||133,567|
11
**Protect Earth**
## **Notes for the period ended 31 March 2024**
## **5 Support costs**
|Volunteering and subcontractor costs
Advertising and promotional costs
Office costs
Travel and subsistence
Depreciation
Legal and professional fees
Independent examiner fees
Finance costs|**2024**
**£**
**31,976**
**10,546**
**11,738**
**9,472**
**29,666**
**796**
**500**
**2,124**
**96,818**|2023
£
7,598
4,250
4,836
12,295
21,538
1,279
350
1,511|
|---|---|---|
|||53,659|
## **6 Staff costs and Trustee remuneration**
The Charity had no employees during the reporting period (2023: none). No Trustee or any person connected with a Trustee has received or is due to receive any remuneration.
Two Trustees claimed expenses totalling £4,953 during the financial period (2023: two totalling £8,048) for direct costs of delivering the charity's objects including travel and subsistence and reimbursements of charity expenses.
Other transactions with Trustees and related entities during the reporting period are disclosed at Note 15.
12
**Protect Earth**
## **Notes for the period ended 31 March 2024**
## **7 Tangible fixed assets**
|**COST**
Brought forward at 1 April 2023
Additions
**Total cost at 31 March 2024**
**DEPRECIATION**
Brought forward at 1 April 2023
Charged during the period
**Total depreciation at 31 March 2024**
Net book value at 31 March 2023
**Net book value at 31 March 2024**
**8**
Trade debtors
Prepayments and accrued income
VAT
**Debtors**|**Land and**
**Buildings**
**Plant and**
**machinery**
£
£
708,758
938
3,816
3,715|**Land and**
**Buildings**
**Plant and**
**machinery**
£
£
708,758
938
3,816
3,715|**2024**
**£**
**709,696**
**7,531**|
|---|---|---|---|
||712,574|4,653|**717,227**|
||22,784
28,503|235
1,163|**23,019**
**29,666**|
||51,287|1,398|**52,685**|
|||||
||685,974|703|**686,677**|
|||||
||661,287|3,255|**664,542**|
|||**2024**
**£**
**39,906**
**12,506**
**-**|2023
**£**
16,724
36,342
705|
|||**52,412**|53,771|
13
**Protect Earth**
## **Notes for the period ended 31 March 2024**
## **9 Creditors: amounts falling due within one year**
|Trade creditors
Accruals and deferred income
Trustee loan accounts
Other taxes|**2024**
**£**
**13,701**
**750**
**19,790**
**2,362**
**36,603**|2023
£
3,122
500
18,434
-|
|---|---|---|
|||22,056|
## **10 Creditors: amounts falling due within more than one year**
|Trustee loan accounts
Other borrowings|**2024**
**£**
**19,747**
**20,566**
**40,313**|2023
£
37,975
20,367|
|---|---|---|
|||58,341|
All loan accounts and borrowings are lent without security and attract interest at a maximum rate of 2.0%. All of these borrowings are repayable within two to five years.
## **11 Financial commitments**
At 31 March 2024 the company had no disclosable financial commitments (2023: none).
14
**Protect Earth**
**Notes for the period ended 31 March 2024**
## **12 Reconciliation of movement in funds**
**For the period ended 31 March 2024:**
|**Restricted funds**
High Wood fund
Goytre Woods
Land acquisition fund
Staffing fund
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**As at 1 April**
**2023**
£
425,245
260,730
21,767
7,321
15,149
730,212|**Income**
£
-
-
26,621
-
140,374
166,995|**Expenditure**
£
(24,572)
(11,380)
(1,205)
(21,672)
(102,244)
(161,073)|**Transfers**
£
-
-
-
14,351
(14,351)
-|**At 31 March**
**2024**
**£**
**400,673**
**249,350**
**47,183**
**-**
**38,928**|
|---|---|---|---|---|---|
||||||**736,134**|
Funds were previously provided by specific donors to enable to acquisitions of High Wood and Goytre Woods. The land acquisitions are held as restricted assets for conservation improvement.
Donations have been received from numerous donors to support a campaign for Protect Earth to acquire additional parcels of land for reforestation.
Funds were previously provided by a donor to enable the appointment of an ecologist to work with Protect Earth for a period of twelve months.
## **For the period ended 31 March 2023:**
|**Restricted funds**
High Wood fund
Goytre Woods
Land acquisition fund
Staffing fund
**Unrestricted funds**
General fund
TOTAL FUNDS|**As at 1 April**
**2022**
442,791
-
34,143
30,000
19,543
526,477|**Income**
£
-
160,000
15,737
-
161,565
337,302|**Expenditure**
£
(17,780)
(3,523)
-
(22,679)
(89,585)
(133,567)|**Transfers**
£
234
104,253
(28,113)
-
(76,374)
-|**At 31 March**
**2023**
**£**
**425,245**
**260,730**
**21,767**
**7,321**
**15,149**|
|---|---|---|---|---|---|
||||||**730,212**|
15
**Protect Earth**
## **Notes for the period ended 31 March 2024**
## **13 Analysis of net assets between funds**
|Unrestricted
funds
Restricted funds
**Total**
£
£
**£**
Tangible fixed assets
3,255
661,287
**664,542**
Current assets
112,589
35,919
**148,508**
Current liabilities
(36,603)
-
**(36,603)**
Non-current liabilities
(40,313)
-
**(40,313)**
Net assets
38,928
697,206
**736,134**
**2024**
2023
**£**
£
Net income
**5,922**
203,735
Depreciation charges
**29,666**
21,538
(Increase)/decrease in debtors
**1,359**
2,489
Increase/(decrease) in current liabilities
**14,547**
(18,972)
Increase/(decrease) in non-current liabilities
**(18,028)**
(17,128)
Acquisition of tangible fixed assets
**(7,531)**
(265,424)
**Net cash (outflow) / inflow from operating activities**
**25,935**
(73,762)
**Reconciliation of cash flows from operating activities**|Unrestricted
funds
Restricted funds
**Total**
£
£
**£**
3,255
661,287
**664,542**
112,589
35,919
**148,508**
(36,603)
-
**(36,603)**
(40,313)
-
**(40,313)**|Unrestricted
funds
Restricted funds
**Total**
£
£
**£**
3,255
661,287
**664,542**
112,589
35,919
**148,508**
(36,603)
-
**(36,603)**
(40,313)
-
**(40,313)**|
|---|---|---|
||38,928|697,206
**736,134**|
|||**2024**
2023
**£**
£
**5,922**
203,735
**29,666**
21,538
**1,359**
2,489
**14,547**
(18,972)
**(18,028)**
(17,128)
**(7,531)**
(265,424)|
|||**25,935**
(73,762)|
## **14 Reconciliation of cash flows from operating activities**
## **15 Related party transactions and relationships**
During the period ended 31 March 2022 Trustee P Sturgeon loaned the company £54,756. The loan is for a term of five years with repayments being made in equal quarterly instalments which commenced on 3rd February 2023. The lender holds no security over the charity and interest accrues at a rate of 2%. The balance outstanding at the end of the reporting period was £39,537 (2023: £56,409).
16