Reply to: Ashleigh Jackson aj@sbca.co.uk Our Ref: NEN01/AJ/CB Your Ref: Charity ACC 2023 Date: 18[th ] October 2023
Ms L Hilton Nene Rivers Trust CIO Building 14 Chester House Estate Higham Road WELINGBOROUGH NN29 7EZ
Dear Lesley
CHARITY ACCOUNTS FOR THE PERIOD ENDING 31[ST] MARCH 2023
Further to your meeting, we have pleasure in enclosing your final accounts which you have kindly asked us to prepare on your behalf.
Please review the documents, and if you have any queries whatsoever, please do not hesitate to contact us.
If you are in agreement with the accounts, please deal with the enclosures as follows:
1 x Full Financial Statements
Please liaise with Sharn and sign above your respective names on pages 4 & 9.
Finally, we would value your feedback on what we’ve done for you this year. We will shortly be emailing you a link to a short survey, and would be grateful if you would take the time to tell us how happy you are with us and what else we can do to make you even happier in the future. Each quarter we hold a prize draw to give away £25 worth of John Lewis vouchers for clients who complete our Client Satisfaction Survey and complete the “my details” section.
Thank you for instructing us to prepare your accounts and tax return this year, and as ever, if you have any queries, please do not hesitate to contact us.
Yours sincerely
Ashleigh
Ashleigh Jackson Lead Advisor
REGISTERED COMPANY NUMBER: CE029757 (England and Wales) REGISTERED CHARITY NUMBER: 1199701
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
FOR
NENE RIVERS TRUST CIO
NENE RIVERS TRUST CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
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Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5 to 6
Statement of Financial Activities 7
Statement of Financial Position 8 to 9
Statement of Cash Flows 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Activities 17 to 18
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NENE RIVERS TRUST CIO
REPORT OF THE TRUSTEES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 14th July 2022 to 31st March 2023. The trustees have adopted the provisions of 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).
INCORPORATION
The charitable company was incorporated on 14th July 2022.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of the conservation, protection and improvement of the physical and natural environment, including but not limited to:
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Supporting the protection and recovery of the environment from climate change, limiting the detrimental effects of climate change, supporting the elimination of the causes of climate change, understanding the impact of climate change on the natural environment and supporting the natural environment and communities to adapt to the changing climate.
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The conservation, protection, restoration and improvement of the rivers of the Nene Catchment, their tributaries, their sources and the surrounding area.
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The advancement of education of the public in the conservation, protection and improvement of the physical and natural environment.
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The cultural and natural heritage of the Nene Catchment.
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The advancement of health and the promotion and protection of the physical and mental health and wellbeing of the public.
Business Development during 2022/2023
River Nene Regional Park CIC transitioned to Nene Rivers Trust CIO.
Page 1
NENE RIVERS TRUST CIO
REPORT OF THE TRUSTEES
FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
OBJECTIVES AND ACTIVITIES
Our Projects
Since its inception as River Nene Regional Park in 2004, the Nene Rivers Trust has delivered a suite of projects from small community-scale campaigns to award-winning schemes.
Rockingham Forest 'Building the Links'
Building the Links for Rockingham Forest is a partnership project funded by The National Lottery Heritage Fund and led by Nene Rivers Trust. The project aims to re-engage people in the ancient Rockingham Forest through events, training and education.
RAIN
The RAIN project (Resilience and Innovation Northants) is working with communities in two river catchments: Harpers Brook in North Northamptonshire, and Wootton Brook in West Northamptonshire. The Trust is working with these communities and large land owners to trial flood resilience measures at three different scales: across the catchment, within the community, and at individual property level.
Nene Valley Catchment Partnership
The Nene Valley Catchment Partnership was formed in June 2014 and covers the catchment of the River Nene and its tributaries.
Vision: The Nene Catchment will support abundant and resilient natural assets and is a desirable place to live, work and relax.
The catchment will be characterised by thriving communities and sustainable complimentary growth and development. This will be achieved through efficient and practical project implementation based on sound evidence, influence on, and delivery through local planning policies, open and ongoing communication, and genuine collaboration.
Key Aims:
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Overseeing the realisation of the Nene Integrated Catchment Management Plan
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Achieving improvements in water quality across the catchment
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Enabling co-ordinated efficient delivery of river improvement projects
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Supporting cross-boundary working
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Contributing to the development and improvement of green infrastructure links throughout Catchment
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Providing a mechanism to ‘pool’ funding to deliver multi-functional projects
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Informing the development of suitable planning policy
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Improving access to and amenity of the river corridor
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Maintaining the profile of the River Nene and its tributaries and communicating openly with all stakeholders.
River Ise Partnership
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NENE RIVERS TRUST CIO
REPORT OF THE TRUSTEES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
OBJECTIVES AND ACTIVITIES
An ambitious, large-scale programme to enhance the quality of the Valley's natural environment, strengthen its natural capital and develop its ecosystem services.
OBJECTIVES AND ACTIVITIES:
Our Vision is to ensure that the Ise Valley plays a central role in North Northamptonshire's sustainable and economic prosperity; that its landscape character and sense of place are regarded as equally important as the economy and valued every bit as much as our planned growth.
Key Aims:
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Develop a River Ise Linear Park that creates links and pathways for people and wildlife and augments connectivity from Wellingborough through Kettering and to Corby.
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Mitigate climate change.
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Contribute to natural flood management.
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Minimise impacts on the catchment and provide net gains for biodiversity.
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Improve water quality.
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Create new green infrastructure (GI) as well as protect and enhance existing GI.
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Seek opportunities to develop sustainable tourism that creates socioeconomic benefits for communities through employment and income-earning opportunities.
Resilient River Project
An initiative of the Nenescape Landscape Partnership the Resilient River project was funded by the Environment Agency & National Lottery Heritage Fund.
The primary aim of the project is to enhance, restore and protect the backchannels and backwaters of the Nene Valley through efficient partnership working and best practice.
Nenescape Landscape Partnership
The Nenescape Landscape Partnership (which completed in January 2023) was a Heritage Lottery Funded scheme, focused on the transition of the Nene Valley from a working landscape to a recreational space with significant historical and wildlife interest. This program saw a total investment in the valley of £5.2 million over a six year delivery period with projects being delivered through a partnership of 23 organisations led and coordinated by Nene Rivers Trust.
STRATEGIC REPORT
The results for the year and the company's financial position at the end of the year are shown in the attached financial statements.
During the year the Charity had income of £917,475 (including gift from River Nene Regional Park CIC of £322,222) and expenditure of £558,151.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 3
NENE RIVERS TRUST CIO
REPORT OF THE TRUSTEES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE029757 (England and Wales)
Registered Charity number 1199701
Registered office
Building 14 Chester House Estate Higham Road Welingborough NN29 7EZ
Trustees
S Matthews Chair (appointed 19.7.2022) J Griffiths-Elsden Trustee (appointed 30.9.2022) J Sinclair Trustee (appointed 10.8.2022) O Burke Trustee (appointed 19.7.2022) S Toseland Trustee (appointed 19.7.2022) G Greenwood-Smith Trustee (appointed 19.7.2022) N Hammond Trustee (appointed 19.7.2022) C F Hallam Trustee (appointed 19.7.2022) B J Smith Trustee (appointed 19.7.2022) M Cameron Trustee (appointed 19.7.2022)
Independent Examiner
Christopher Bond F.C.A SBCA Chartered Accountants 17 Moor Park Avenue Preston Lancashire PR1 6AS
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 18th October 2023 and signed on the board's behalf by:
S Matthews - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NENE RIVERS TRUST CIO
Independent examiner's report to the trustees of Nene Rivers Trust CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 14th July 2022 to 31st March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NENE RIVERS TRUST CIO
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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
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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)).
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 accounts to be reached.
Christopher Bond F.C.A The Institute of Chartered Accountants in England and Wales
SBCA Chartered Accountants 17 Moor Park Avenue Preston Lancashire PR1 6AS
18th October 2023
Page 6
NENE RIVERS TRUST CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
| Notes INCOME AND ENDOWMENTS FROM Grants and Donations 2 Investment income 3 |
Unrestrict fund £ 950,476 757 |
|---|---|
| Total | 951,233 |
| EXPENDITURE ON Charitable activities 4 Grants and Donations Other |
387,560 170,592 |
| Total | 558,152 |
| NET INCOME | 393,081 |
| TOTAL FUNDS CARRIED FORWARD | 393,081 |
The notes form part of these financial statements
Page 7
NENE RIVERS TRUST CIO
STATEMENT OF FINANCIAL POSITION 31ST MARCH 2023
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank |
Unrestrict fund £ 9,858 232,720 176,881 |
|---|---|
| CREDITORS Amounts falling due within one year 12 |
409,601 (26,378) |
| NET CURRENT ASSETS | 383,223 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 393,081 |
| NET ASSETS | 393,081 |
| FUNDS 13 Unrestricted funds |
393,081 |
| TOTAL FUNDS | 393,081 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 18th October 2023 and were signed on its behalf by:
The notes form part of these financial statements
continued...
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NENE RIVERS TRUST CIO
STATEMENT OF FINANCIAL POSITION - continued 31ST MARCH 2023
S Matthews - Trustee
The notes form part of these financial statements
Page 9
NENE RIVERS TRUST CIO
STATEMENT OF CASH FLOWS FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
| Notes Cash flows from operating activities Cash generated from operations 15 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
£ 188,255 188,255 (12,131) 757 (11,374) 176,881 - 176,881 |
|---|---|
The notes form part of these financial statements
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NENE RIVERS TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared un sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
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 continued to adopt the going concern basis of accounting in preparing the financial statements.
Income
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.
Grants receivable which are not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Expenditure
All expenditure is accounted for on an accruals basis.
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Computer equipment - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
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NENE RIVERS TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. GRANTS AND DONATIONS
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|---|---|
|Unrestricted|
|funds|
|£|
|Donations|595,254|
|Gift from RNRP CIC|355,222|
|950,476|
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River Nene Region Park C.I.C. ("RNRP") was converted to a Charitable Incorporated Organisation, and its net assets gifted to the new entity on incorporation.
3. INVESTMENT INCOME
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|---|---|
|Unrestricted|
|funds|
|£|
|Deposit account interest|757|
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Income relates to unrestricted general funds.
continued...
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NENE RIVERS TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
4. CHARITABLE ACTIVITIES COSTS
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||||||
|---|---|---|---|---|
|Grant|
|funding of|
|activities|Support|
|Direct|(see note|costs (see|
|Costs|5)|note 6)|Totals|
|£|£|£|£|
|Grants and Donations|334,075|55,596|(2,111)|387,560|
|5.|GRANTS PAYABLE|
|£|
|Grants and Donations|55,596|
|6.|SUPPORT COSTS|
|Governance|
|Management|Finance|costs|Totals|
|£|£|£|£|
|Other resources expended|107,665|280|61,121|169,066|
|Grants and Donations|21,803|-|(23,914)|(2,111)|
|129,468|280|37,207|166,955|
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7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
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|||
|---|---|
|£|
|Depreciation - owned assets|2,273|
|Hire of plant and machinery|859|
|Other operating leases|1,194|
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continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
NENE RIVERS TRUST CIO
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31st March 2023.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the period was as follows: Operations Management & administrative |
£ 302,540 21,542 13,016 337,098 10 3 13 |
|---|---|
No employees received emoluments in excess of £60,000.
10. TANGIBLE FIXED ASSETS
| Plant and Computer machinery equipment £ £ COST At 14th July 2022 - 11,352 Additions 1,000 4,064 At 31st March 2023 1,000 15,416 DEPRECIATION At 14th July 2022 - 4,285 Charge for year 188 2,085 At 31st March 2023 188 6,370 NET BOOK VALUE At 31st March 2023 812 9,046 |
Totals £ 11,352 5,064 16,416 4,285 2,273 6,558 9,858 |
|---|---|
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
NENE RIVERS TRUST CIO
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11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Trade debtors 229,381
Prepayments 3,339
232,720
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Trade creditors 3,498
Social security and other taxes 11,081
Other creditors 3,853
Accrued expenses 7,946
26,378
13. MOVEMENT IN FUNDS
Net
movement At
in funds 31.3.23
£ £
Unrestricted funds
General fund 393,081 393,081
TOTAL FUNDS 393,081 393,081
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 951,233 (558,152) 393,081
TOTAL FUNDS 951,233 (558,152) 393,081
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continued...
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NENE RIVERS TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31st March 2023.
15. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors Increase in creditors Net cash provided by operations |
£ 393,081 2,273 (757) (232,720) 26,378 188,255 |
|---|---|
16. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash Cash at bank |
At 14.7.22 Cash flow At 31.3.23 £ £ £ - 176,881 176,881 |
|---|---|
| - 176,881 176,881 |
|
| Total | - 176,881 176,881 |
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NENE RIVERS TRUST CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
| INCOME AND ENDOWMENTS Grants and Donations Donations Gift from RNRP CIC Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Fuel & oil Project costs Marketing Legal fees Grants to institutions Other Entertainment Subscriptions Support costs Management Wages Social security Pensions Hire of plant and machinery Rent Carried forward |
£ 595,254 355,222 950,476 757 951,233 247,498 16,514 10,464 5,171 32,601 19,487 2,340 55,596 389,671 602 924 1,526 55,042 5,028 2,552 859 1,194 64,675 |
|---|---|
This page does not form part of the statutory financial statements
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NENE RIVERS TRUST CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 14TH JULY 2022 TO 31ST MARCH 2023
| Management Brought forward Insurance Telephone Postage and stationery Advertising Sundries Repairs & renewals Hotels Childcare costs Depreciation Finance Bank charges Governance costs Accountancy fees Legal fees Total resources expended Net income |
£ 64,675 2,811 2,005 1,530 18,699 11,960 21,934 1,868 1,713 2,273 129,468 280 23,993 13,214 37,207 558,152 393,081 |
|---|---|
This page does not form part of the statutory financial statements
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