ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
REBEL RESTORATION
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1197777
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
REBEL RESTORATION
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 13 | Notes to the Financial Statements |
| Page 14 | Independent Examiner's Report |
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REBEL RESTORATION
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1197777 DATE OF REGISTRATION 3rd February 2022 START OF FINANCIAL YEAR 1st October 2022 END OF FINANCIAL YEAR 30th September 2023 TRUSTEES AS AT 30TH SEPTEMBER 2023 Mrs Claire Jenkin Dr Richard Woodfine Mr Daniel Bates Mr Ciaran Nelson (Appointed 24th May 2023) Mrs Jane Williamson (Appointed 23rd September 2023) LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT CIO - Foundation Registered 3rd February 2022
OBJECTS
To promote for the benefit of the public the conservation, protection and improvement of the natural environment by the provision of such grants and donations as the Trustees shall think fit in particular for the following: a ) Projects focused on removing carbon from the atmosphere and restoring natural habitats. b ) Research into projects on the impact of naturalbased carbon removal and the publication of the useful results of such research. c ) Raising awareness of the impact of climate change and encourage communities to become involved in nature-based projects.
CORRESPONDENCE ADDRESS
CORRESPONDENCE ADDRESS First Floor 10 Queen Street Place London EC4R 1BE PRIMARY BANKERS Metro Bank Plc One Southampton Row London WC1B 5HA INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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REBEL RESTORATION
(Charitable Incorporated Organisation)
TRUSTEES REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2023
Aims & Objectives
Rebel Restoration is a Charitable Incorporated Organisation registered in England & Wales but active across England, Wales and Scotland, with a primary charitable purpose of environmental conservation.
Specifically, Rebel Restoration will provide grants and funding to holistic environmental projects which:
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Remove carbon from the atmosphere whilst restoring natural habitats and biodiversity;
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Develop research on the impact of nature-based carbon removal and;
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Encourage communities to become involved in nature-based projects.
Preferably all three. Mostly in the UK.
- Remove carbon from the atmosphere whilst restoring natural habitats and biodiversity.
Achievements
The primary focus of the charity during this reporting period was for the charity to build on its strong foundation of incorporation, governance, banking and policies framework and to begin its fundraising and grant-making activities. Specifically, we were delighted to receive funding from Rebel Energy Ltd under a Funding Agreement enabling us to provide grants to the following causes active in the UK:
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Project Seagrass : Seagrass restoration activities on the Welsh coastline;
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Seawilding : Seagrass restoration and research activities in Loch Craignish, Scotland;
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Moors For The Future : Peatland restoration activity on Ilkley Moor in the north of England;
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Highlands Rewilding : Restoring ecosystems at landscape scale in the Highlands and Islands of Scotland.
We have also been able to invest in an innovative project which aims to connect private and institutional finance with nature recovery.
The partners and projects were selected as a result of their carbon, biodiversity and community impact across the UK, being delivered by highly-credible groups and partnerships.
Looking forwards, we plan to expand our relationships with these partners to continue supporting their work, and to start building new partnerships based on our learnings from these initial projects, as the income of our charity continues to grow.
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REBEL RESTORATION
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| Unrestricted | Designated | Restricted | TOTAL TOTAL |
||
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022/23 2021/22 |
||
| £ | £ | £ | £ £ |
||
| INCOMING RESOURCES | |||||
| Incoming Resources from Generated Funds | |||||
| Donations, Grants & Legacies | 152,492 | - | - 152,492 - |
||
| TOTAL INCOMING RESOURCES | 152,492 | - | - 152,492 - |
||
| RESOURCES EXPENDED | |||||
| Costs of Generating Funds | |||||
| Charitable Activities | 40,207 | - | - 40,207 - |
||
| Governance Costs | 1,150 | - | - 1,150 - |
||
| TOTAL RESOURCES EXPENDED | 41,357 | - | - 41,357 - |
||
| NET INCOMING (OUTGOING) RESOURCES | 111,135 | - | - 111,135 - |
||
| Total Funds Brought Forward | - | - | - - - |
||
| Transfer Between Funds | 5 & 6 | (30,000) | 30,000 | - - - |
|
| TOTAL FUNDS CARRIED FORWARD | 81,135 | 30,000 | - 111,135 - |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 13 form part of these dormant financial statements.
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
Unrestricted Funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted Funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated Funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Taxation
The charity is exempt from tax on its charitable activities.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
2. TANGIBLE FIXED ASSETS
The CIO held no tangible fixed assets during this or the previous financial year.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 30th September 2023 : None 30th September 2022 : None
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations 4. RESOURCES EXPENDED a) Cost of Charitable Activities Gifts & Donations b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2022/23 2021/22 £ £ £ £ £ 152,492 - - 152,492 - 152,492 - - 152,492 - Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2022/23 2021/22 £ £ £ £ £ 40,207 - - 40,207 - 40,207 - - 40,207 - 800 - - 800 - 350 - - 350 - 1,150 - - 1,150 - |
|---|---|
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
5. INVESTMENTS
| Highlands Rewilding Ltd Cost Value 01-Oct-22 Additions Disposals Profit/(Loss) on Investments Market Value 30-Sep-23 |
Balance Profit/(Loss) Additions/ Balance 01-Oct-22 On Investment (Disposals) 30-Sep-23 £ £ £ - - 30,000 30,000 - - 30,000 30,000 Highlands Unrestricted Restricted Total Rewilding Ltd Fund Fund 30-Sep-23 £ £ £ £ - - - - 30,000 30,000 - 30,000 - - - - - - - - 30,000 30,000 - 30,000 |
|---|---|
Highlands Rewilding Ltd
The Charity holds investments with Highlands Rewilding Ltd (Registered Company Number SC701646) and the original indexed book investment as at the 30th September 2023 was £30,000 and the Charity holds 3,000 Ordinary Shares in the Company. The market value of the investment held stood at £30,000 as at 30th September 2023.
6. DESIGNATED FUNDS
CURRENT FINANCIAL YEAR
| Highlands Rewilding Ltd | Balance Balance 01-Oct-22 Income Expenditure Transfers 30-Sep-23 £ £ £ £ £ - - - 30,000 30,000 - - - 30,000 30,000 |
|---|---|
The designated funds held are wholly represented by the investments held with Highland Rewilding Ltd.
7. RESTRICTED FUNDS
The CIO held no restricted funds during this or the previous financial period.
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
8. CASH AT BANK AND IN HAND
| Unrestricted | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Fund | Fund | 30-Sep-23 | 30-Sep-22 | ||
| £ | £ | £ | £ | ||
| Cash at Bank & in Hand | 81,935 | - 81,935 - |
|||
| 81,935 | - 81,935 - |
||||
| 9. DEBTORS AND PREPAYMENTS | |||||
| Prepayments | Unrestricted Fund £ - |
Restricted Fund £ |
Total 30-Sep-23 £ - |
Total 30-Sep-22 £ - - |
|
| - | - | - - |
|||
| 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| Independent Examiner's Fee | Unrestricted Fund £ 800 |
Restricted Fund £ |
Total Total 30-Sep-23 30-Sep-22 £ £ - 800 - |
||
| 800 | - 800 - |
11. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
12. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Fund Fund 30-Sep-23 30-Sep-22 £ £ £ £ 30,000 - 30,000 - 81,135 - 81,135 - - - - - 111,135 - 111,135 - |
|---|---|
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REBEL RESTORATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
13. STAFF COSTS AND NUMBERS
The CIO employed no members of staff during this or the previous financial period.
14. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
15. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
16. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
17. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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REBEL RESTORATION
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Rebel Restoration on the accounts for the year ended 30th September 2023 set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 17th June 2024
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