2023-09-30-accounts - Clean Planet

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CLEAN PLANET

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

CLEAN PLANET

REFERENCE AND ADMINISTRATIVE DETAILS CHARITY NAME: Clean Planet CHARITY NUMBER: 1200299 OPERATIONAL ADDRESS: 1 Highbury Middlesbrough TS5 7PP BANKERS: Virgin Money – Clydesdale Bank plc Piccadilly Circus, London

TRUSTEES

The trustees who served during the year were:

Stephen Smith Elaine Bayles Graham Bayles Jacqueline Pealing ACCOUNTANTS: Nichol Goodwill Brown Limited 112 Whitley Road Whitley Bay NE26 2NE

CLEAN PLANET

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their annual report and financial statements of the charity for the year ended 30 September 2023. 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 constitution, the Charities Act 2011, the second edition of the Charities Statement of Recommended Practice issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC INTEREST

Purpose and aims – the objects of the charity are to promote for the benefit of the public the conservation, protection and improvement of the coastal waters of the North East of England by removing: abandoned, discarded, lost and harmful fishing gear, fishing line and marine debris (ghost fishing gear).

Ensuring our work delivers our aims - We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits that they have brought to the coastal waters we are set up to improve.

The review also helps us to ensure that our aims, objectives and activities have remained focussed on our stated purposes. We have referred to guidance contained in the Charity’s Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

FINANCIAL REVIEW

Results for the year – The Statement of Financial Activities shows a surplus for the year of £18,249. The majority of income was from grants (£18,477) whilst expenditure comprised £741 on charitable activities and £2,130 on governance costs. £5,585 of capital expenditure was spent on a trailer, tow bar, computer equipment and website design. At 30 September 2023 the charity had paid a £4,000 deposit on a rigid inflatable boat (RIB). The boat was delivered after the year end for a total cost of £24,500. The purchase of the RIB was initially funded with a short term loan from the Northern Impact Fund No2 which was repaid in November 2024 with a grant from the Marine Management Organisation.

Principal funding sources – The charity relies upon funding from external sources in the form of donations from individuals and businesses and also grants from the commercial sector as well as from charitable bodies.

Investment powers and policy – All cash belonging to the charity and not needed for immediate working capital purposes is invested under the power of the trustees.

Reserves policy and going concern – The trustees ensure that there are sufficient reserves to meet the working capital and cash flow requirements of the charity.

Plans for future years – The charity’s future plan is to continue to improve the underwater environment of the North East’s coastal waters.

Signed on behalf of the Trustees

……………………………. Stephen Smith, Chairman

CLEAN PLANET

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023

INCOME: Donations and Legacies Donations Grants Charitable activities Other trading activities Investment income EXPENDITURE: Raising funds Charitable activities Other – see note 1 Net income before gains on investments Gains on investments Net movement in funds Total funds b/fwd Total funds c/fwd	2,613 18,477 - 741 2,130	2023 £ 21,090 - 12 12 21,120 (2,871) 18,249 - 18,249 - 18,249

The notes on pages 6 to 9 form part of these financial statements.

CLEAN PLANET

BALANCE SHEET AS AT 30 SEPTEMBER 2023

FIXED ASSETS Tangible assets (note 3) Investments Total fixed assets CURRENT ASSETS Sundry debtors (note 4) Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Accrued liabilities (note 5) Net current assets Total assets less current liabilities Loan (note 6) Total net assets Represented by: Restricted funds Unrestricted funds Total funds	4,000 27,472 31,472 (345) (345)	2023 £ 5,025 - 5,025 31,127 36,152 (17,903) £18,249 - 18,249 £18,249

These accounts were approved by the Trustees on 26 March 2024.

.................................. Stephen Smith Chairman

The notes on pages 6 to 9 form part of these financial statements.

CLEAN PLANET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. ACCOUNTING POLICIES

1.1 Basis of Preparation

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed assets, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the financial statements. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Preparation of the Financial Statements 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. There are no significant judgements or key sources of estimation uncertainty that affect the financial statements.

1.3 Cash Flow Statement

The Trustees have taken advantage of the exemption from including a cash flow statement in the financial statements on the grounds that the charity is small.

1.4 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and grants are recognised when the charity has been notified in writing of both the amount and the settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Investment income is included when receivable.
Incoming resources from charitable activities are accounted for when receivable.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

CLEAN PLANET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)

1.5 Expenditure and Irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

Expenditure on charitable activities includes the costs of performances, events and other activities undertaken to further the purpose of the charity and their associated support costs.
Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the Charity.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Support Costs

Support costs are those functions that assist in the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance and governance costs which support the charity’s activities. These costs have been included within expenditure on charitable activities.

1.7 Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general Objectives of the Charity and are funds which have not been designated for other purposes.

Restricted funds are to be used in accordance with specific restrictions imposed by their donors.

1.8 Tangible Fixed Assets

Individual fixed assets are capitalised at cost, where acquired, or fair value as determined by the Trustees and are depreciated over their estimated useful economic lives.

1.9 Listed Investments

Listed investments are shown at market value.

1.10 Fixed Asset Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation throughout the year.

CLEAN PLANET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)

1.11 Debtors

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is recognised at the settlement amount due after any trade discount offered.

1.12 Cash at bank and in hand

Cash at bank and in hand comprises a bank current account and a small petty cash balance.

1.13 Creditors and Provisions

Creditors are recognised where the charity has a present obligation as a result of 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.

1.14 Financial Instruments

The charity only has financial assets and 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 date, with the exception of fixed asset investments which are subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

2. Other expenses (governance costs)

Training Postage and stationery Subscriptions Computer expenses Out of pocket expenses Depreciation Accountancy Funding fee Interest payable	285 176 404 62 120 558 300 180 45

£2,130

3. Fixed assets

Plant and equipment cost b/fwd - additions 5,583 cost c/fwd depreciation b/fwd - charge for the period(558) depreciation c/fwd	5,583 (558) £5,025	5,583 (558)

CLEAN PLANET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (CONTINUED)

4. Debtors

Deposit on Rigid Inflatable Boat £4,000

5. Creditors: amounts falling due within 1 year

Accruals and deferred income £345

6. Loan from Northern Impact Fund

The loan was short term and was repaid in full in November 2023 with a grant from the Marine Management Organisation.