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2024-03-31-accounts

Charity Number: 1203198 Company Number: 13464698

GREATER MANCHESTER ENVIRONMENT TRUST

t/a Greater Manchester Environment Fund

Trustees' Report and Accounts

For the Period Ended

31 March 2024

GREATER MANCHESTER ENVIRONMENT TRUST CONTENTS FOR THE PERIOD ENDED 31 MARCH 2024

Charity Details 1
Report of the Trustees 2
Independent Auditor’s Report to the Members 6
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Accounts 13

GREATER MANCHESTER ENVIRONMENT TRUST CHARITY DETAILS FOR THE PERIOD ENDED 31 MARCH 2024

Company Name Greater Manchester Environment Trust
Charity registration number 1203198
Company registration number 13464698
Trustees ME Atherton
TSW Burditt
AG Hatton
CAJ Memmott
GMET Programme Manager D Wallis
Auditor MHA
9 Winckley Square
Preston
PR1 3HP
Principal/contact address c/o Lancashire Wildlife Trust
Environmental Resource Centre
Bury Road
Bolton
BL2 6DH
Registered address c/o Lancashire Wildlife Trust
Environmental Resource Centre
Bury Road
Bolton
BL2 6DH
Supporting Organisations Lancashire Wildlife Trust (managing partner)
Greater Manchester Combined Authority (connected
organisation)
Greater Manchester Chamber of Commerce
Natural England
Peel L&P
SUEZ (connected organisation)
United Utilities

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GREATER MANCHESTER ENVIRONMENT TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024

The trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and the audited financial statements of the charity for the period ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

Structure, governance and management

Greater Manchester Environment Trust (hereafter referred to as “the charitable company”) is a charitable company limited by guarantee, incorporated in June 2021 and registered as a charity in May 2023. The charitable company is governed by its memorandum and articles of association. The power of appointing and removing trustees is vested in the Trustees by way of an instrument in writing and approved by each Trustee.

The charitable company trades as Greater Manchester Environment Fund.

The criteria used by the charitable company to determine the pay and remuneration of key management personnel are the same as those used by Lancashire Wildlife Trust from whom staff are seconded. Lancashire Wildlife Trust use comparisons to external charities for similar roles as a basis for determining the pay and remuneration of key management personnel.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the period and since the period end are set out on page 1. Trustees are appointed by the Board. The Lancashire Wildlife Trust’s Governance Officer will update the trustees on changes to the law affecting the scheme. The Programme Manager will provide induction for new members.

The trustees delegate the assessment of applications to an assessment panel agreed for each Grant Scheme, which is chaired by the Programme Manager. The Programme Manager is assisted by a small team and co-ordinates the daily operation of the charity. The trustees meet quarterly and as required to approve or refuse grants based on the recommendations of the relevant Grants Assessment Panels.

Risk review

The Board has conducted its own review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Internal risks are minimised by segregation of duties and checking procedures.

The major risks to which the charity is exposed is relating to the financial security of funds beyond March 2025. Also new emerging finance, innovative and cutting edge nationally, presents significant risk due to several unknowns that are being mitigated through legal and land agent advice.

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GREATER MANCHESTER ENVIRONMENT TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024

The Greater Manchester Environment Trust primarily distributes monies through the Recycle 4 Greater Manchester (R4GM) Community Fund, raised from the profits generated through the SUEZ ReUse shops, and through the Greater Manchester Green Space's Fund, supported and funded by Greater Manchester's Mayor through the Greater Manchester Combined Authority (GMCA).

The success of the R4GM Community Fund has led to its on-going delivery to September 2026 with hope to continue beyond this. The Greater Manchester Green Spaces Fund has successfully awarded four rounds to date, with a fifth round due to be awarded in the summer of 2024. The continuation of the fund was referenced in Mayor’s latest manifesto and the Trust anticipates it’s continuation into 2025.

Connected Charities and Organisations

Lancashire Wildlife Trust Limited

The trustees consider Lancashire Wildlife Trust Limited (“LWT”) to be a connected charity as it is a member of the charitable company with the power to appoint one trustee to the board. Tom Burditt (CEO) is a Trustee of GMET. LWT provides management, organisational, administrative and supervision services to the charitable company under an agreement. The charitable company has no employees of its own, but subcontracts three full time and one part time employees from Lancashire Wildlife Trust who work exclusively on the charitable company’s affairs. The Programme Manager role is led by a LWT’s Director of Nature and Wellbeing and supported by a Senior Manager who leads on the emerging innovative green finance development work.

During the period, a total of £26,243 (year to 30 June 2023: £41,156) was payable for these services and other management, organisational, administrative and supervision services.

Greater Manchester Combined Authority

The trustees consider Greater Manchester Combined Authority (GMCA) to be a connected organisation as it is a member of the charitable company with the power to appoint one trustee to the board. Mark Atherton is both a trustee of the charitable company and Director of Environment at GMCA

One of the current functions of GMCA is to lead the delivery of the Greater Manchester Environment Plan.

Objectives, activities and public benefit

The charity's objectives are, for the benefit of the public, specifically restricted to the following: preserving the heritage of Greater Manchester and elsewhere through the preservation of buildings or sites of historic or architectural importance; and

advancing the conservation, protection and improvement of the environment by promoting:

"Sustainable Development" means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

The trustees have had due regard to guidance published by the Charity Commission on public benefit.

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GREATER MANCHESTER ENVIRONMENT TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024

Grant making policy

The charity invites applications for funding of environmental projects across the Greater Manchester area. Institutional applicants are invited to submit a summary of their proposals in a specified format. The applications are reviewed against specific criteria by an approved selection process.

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the period.

Achievements and performance

During the period, the charitable company received grants of £1,690,906 (year to 30 June 2023: £ 1,599,816) and awarded a total of £1,113,375 to 112 projects (year to 30 June 2023: £988,360 to 88 projects) while maintaining sufficient resources to enable charitable activities going forward.

Financial reserves

The charity’s financial reserves are made up of restricted funds of £900,830 (2023: £504,064) with the remainder of the charity’s funds are held in a general unrestricted fund, which as at 31 March 2024 was £46,327 (30 June 2023: £2,843). Unspent grants received in the period, shown in restricted funds, will be spent in future years in line with the associated grant programme.

Reserves policy

The Trust has established a financial reserves policy to cover for unexpected reductions in short-term income. Under the policy the Trust will aim to hold sufficient unrestricted reserves in sufficiently liquid form (ie. as net current assets) to enable it to cover three months of core operating expenditure. Core operating expenditure excludes expenditure funded by restricted funds. In the early years of the charity the amount of unrestricted reserve is still being built up.

Statement of the Board’s responsibilities

The Trustees (who are also directors of Greater Manchester Environment Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

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GREATER MANCHESTER ENVIRONMENT TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024

Statement of the Board’s responsibilities (continued)

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

The members of Board who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the members of Board have confirmed that they have taken all steps that they ought to have taken as members of the Board in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption in the Companies Act 2006.

The Report of the Trustees was approved by the Board on 28 November 2024 and signed on their behalf:

ME Atherton Trustee

TSW Burditt Trustee

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GREATER MANCHESTER ENVIRONMENT TRUST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE PERIOD ENDED 31 MARCH 2024

Opinion

We have audited the financial statements of Greater Manchester Environment Trust for the period ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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GREATER MANCHESTER ENVIRONMENT TRUST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE PERIOD ENDED 31 MARCH 2024

Other information (continued)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

Respective responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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GREATER MANCHESTER ENVIRONMENT TRUST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE PERIOD ENDED 31 MARCH 2024

Respective responsibilities of the trustees (continued)

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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GREATER MANCHESTER ENVIRONMENT TRUST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE PERIOD ENDED 31 MARCH 2024

Use of report

This report is made solely to the charitable company’s members, as a body, in accordance with the Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor'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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Mason (Senior Statutory Auditor)

for and on behalf of MHA Statutory Auditor Preston

Date: 04/12/2024

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

-9-

GREATER MANCHESTER ENVIRONMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 MARCH 2024

Notes Unrestricted
funds
Restricted
funds
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Income
Donations
2
Charitable activities
3
Investment income
4
Total income
Expenditure
Charitable activities
5
Other expenditure
Total expenditure
Net (expenditure) / income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 7,141
2,500
9,641
215
54,550
1,693,639
1,748,189
1,711,780
110
-
110
-
61,801
1,696,139
1,757,940
1,711,995
(204,317) (1,113,373)(1,317,690)(1,163,575)
-
-
-
-
(204,317) (1,113,373) (1,317,690) (1,163,575)
(142,516)
582,766
440,250
548,420
186,000
(186,000)
-
-
43,484
396,766
440,250
548,420
2,843
504,064
506,907
(41,513)
46,327
900,830
947,157
506,907

The statement of financial activities contains all gains and losses for the period and all activities relate to continuing operations.

The accompanying accounting policies and notes on pages 13 to 20 form an integral part of these financial statements.

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GREATER MANCHESTER ENVIRONMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024

Notes 31 March
2024
30 June
2023
£
£
Current assets:
Debtors
9
Cash at bank and in hand
Total current assets
Liabilities
Creditors: falling due within one year
10
Net current assets
Total net assets
The funds of the charity:
Restricted funds
11
Unrestricted funds
11		 1,013,671
537,113
87,492
5,000
1,101,163
542,113
(154,006)
(35,206)
947,157
506,907
947,157
506,907
900,830
504,064
46,327
2,843
947,157
506,907

The accompanying accounting policies and notes on pages 13 to 20 form an integral part of these financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption in the Companies Act 2006.

The financial statements were approved by the trustees on 28 November 2024 and signed on their behalf by:

ME Atherton Trustee

TSW Burditt Trustee

Company number 13464698

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GREATER MANCHESTER ENVIRONMENT TRUST STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024

Notes 31 March
2024
30 June
2023
£
£
Cash flows from operating
activities:
Net cash inflow / (outflow) from operating activities
14
Cash flows from investing activities:
Net cash used in investing activities
Cash flows from financing activities
Net cash used in financing 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
14		 82,492
-
-
-
-
-
82,492
-
5,000
5,000
87,492
5,000

The accompanying accounting policies and notes on pages 13 to 20 form an integral part of these financial statements.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention and in accordance with the Companies Act 2006.

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 October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Greater Manchester Environment Trust meets the definition of a public benefit entity under FRS 102.

All income resources and resources expended derive from continuing activities. The statement of financial activities includes all gains and losses recognised in the period.

1.1 Reporting period

The financial statements have been prepared for a period of nine months to 31 March 2024. The previous period of accounts covered a period of twelve months to 30 June 2023 and therefore, the comparative amounts presented in the financial statements and the related notes are not entirely comparable.

1.3 Going concern

The trustees have considered the appropriateness of the going concern assumption and believe it is appropriate to prepare the financial statements on this basis due to the Trust’s level of reserves and agreed funding. At the time of approving the financial statements, the trustees deemed the charity to have sufficient resources to continue to operate for a period of at least twelve months and there are no material uncertainties regarding the charity’s financial position. The financial statements have therefore been prepared on a going concern basis.

1.4 Company status and changes in accounting policies

The charity is a company limited by guarantee and became a registered charity on 23 May 2023. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The financial statements have been prepared and presented on the basis that the company was a charitable company for the full period to 31 March 2024 following the requirements of the Statement of Recommended Practice (SORP), ‘Accounting and Reporting by Charities’.

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by the SORP the restatement of comparative items was required but after review have concluded that no restatement was necessary.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

1.5 Funds held by the charity

Restricted funds

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes.

Unrestricted funds

General funds are those held where there are no restrictions, and which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

1.6 Incoming resources

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Donations are recognised as income when the donation is made.

Grants income is recognised in the statement of financial activities in the period to which it relates. Where a grant is restricted by the funder for use in a future period, its recognition is deferred until the charity becomes entitled to the resource. Grants in respect of specific projects are credited to a restricted fund against which relevant expenditure is charged.

1.7 Resources expended

Resources used are accounted for on an accruals basis, inclusive of any irrecoverable VAT. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.

Expenditure on charitable expenditure includes grants awarded.

Grants payable to third parties are within the charitable objectives. Grants are due for payment when the grantee makes an approved claim.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, administrative payroll costs and general administration. They are incurred directly in support of expenditure on the objects of the charity.

1.8 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.

1.9 Critical accounting estimates and areas of judgement

There have been no significant judgements (apart from those involving estimates) made in the process of preparing the financial statements.

There have been no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES

ONATIONS AND LEGACIES
Unrestricted
funds
Restricted
funds
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Donations
Total donations		 7,141
2,500
9,641
215
7,141
2,500
9,641
215

In 2022-23 donations of £215 comprised £215 unrestricted and £Nil restricted funds.

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
Restricted
funds
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Grants
Primary purpose trading
Total income from charitable activities		 -
1,690,906
1,690,906
1,685,545
54,550
2,733
57,283
26,235
54,550
1,693,639
1,748,189
1,711,780

In 2022-23 income from charitable activities of £1,711,780 comprised £172,432 unrestricted and £1,539,348 restricted funds.

The following grants are included in the restricted funds in the statement of financial activities and as a funding requirement are highlighted below:

4. INVESTMENT INCOME

Bank interest received in the period to 31 March 2024 was £110 (2022-23 - £Nil).

5. CHARITABLE ACTIVITIES

CHARITABLE ACTIVITIES
Unrestricted
funds
Restricted
funds
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Grants
Consultancy services
Governance and support costs (note 6)
Total expenditure on charitable activities		 -
1,113,373
1,113,373
988,360
56,603
-
56,603
-
147,714
-
147,714
175,215
204,317
1,113,373
1,317,690
1,163,575

In 2022-23 expenditure on charitable activities of £1,163,575 comprised £199,100 unrestricted and £964,475 restricted funds.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

6. GOVERNANCE AND SUPPORT COSTS

GOVERNANCE AND SUPPORT COSTS
Basis of
apportionment		 Governance
Support
costs
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Staff costs
Staff time
Training and staff expenses
Staff time
Website
Income
Consultancy
Usage
Marketing
Usage
Legal and professional
Usage
Audit fee
Usage
Support services
Staff time
Office expenses
Staff time
Finance expenses
Income
Total governance and support costs		 6,689
60,203
66,892
61,975
30
270
300
1,915
5
1,157
1,162
-
-
11,448
11,448
7,503
2,287
2,288
4,575
1,154
-
-
-
51,013
4,600
-
4,600
3,800
4,223
38,009
42,232
41,156
1,564
14,078
15,642
5,548
4
859
863
1,151
19,402
128,312
147,714
175,215

In 2022-23 governance and support costs of £175,215 comprised £55,494 of governance costs and £119,721 of support costs.

During the period the charity, which has no employees of its own, subcontracted three (2023: one) full-time and nil (2023: two) part-time employees from Lancashire Wildlife Trust to work exclusively on the charity’s affairs. All these employees undertook work relating to the provision of grants.

Average number of employees (and full-time
equivalents analysed by activity for the period ended
31 March 2024		 31 March
2024
Total No
31 March
2024
FTE No
30 June
2023
Total No
30 June
2023
FTE No
Management and administration 3
3
2
2
3
3
2
2

The aggregate payroll costs of three persons were as follows:

Total
31 March
2024
Total
30 June
2023
£
£
Gross salaries
Social security costs
Pension contributions		 60,727
56,154
4,978
4,651
1,187
1,170
66,892
61,975

No employee received emoluments of more than £60,000.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

7. AUDITOR’S REMUNERATION

UDITOR’S REMUNERATION
31 March
2024
30 June
2023
£
£
Auditor’s remuneration
Audit fees (including irrecoverable VAT)		 3,600
3,300

8. TRUSTEE AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES

The directors, who are also trustees, of the charitable company are non-executive, are not remunerated and as such are not regarded as employees. None of the trustees received any reimbursement of any expenses.

The total cost of key management personnel of the charity (including employer’s pension and National Insurance contributions) for the period to 31 March 2024 was £25,198 (year to 30 June 2023: £24,478).

9. DEBTORS

DEBTORS
Amounts falling due within oneyear 31 March
2024
30 June
2023
£’000
£’000
Trade debtors
Other debtors
Prepayments and accrued income
Total debtors
REDITORS
Amounts falling due within oneyear		 562,421
-
451,250
530,267
-
6,846
1,013,671
537,113
31 March
2024
30 June
2023
£’000
£’000
Trade creditors
Other creditors
Accruals and deferred income
Total creditors		 146,106
-
-
31,906
7,900
3,300
154,006
35,206

10. CREDITORS

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

11. ANALYSIS OF CHARITABLE FUNDS

ANALYSIS OF CHARITABLE FUNDS
At 1 July
2023
Total
income
Total
expenditure
Transfers
At 31
March
2024
£
£
£
£
£
Restricted:
Recycle for Greater Manchester
Green Spaces Fund
Total restricted funds
Unrestricted:
General funds
Total funds		 51,017
245,612
(221,548)
(27,017)
48,064
453,047 1,450,527
(891,825)
(158,983)
852,766
504,064 1,696,139
(1,113,373)
(186,000)
900,830
2,843
61,801
(204,317)
186,000
46,327
506,907 1,757,940
(1,317,690)
-
947,157

The general unrestricted funds represent the available unrestricted funds of the charity which the Trustees are free to use in accordance with the charitable objectives of the charitable company.

Restricted funds represent funds received by the charitable company for use towards a specific purpose or particular project.

Transfers between restricted and unrestricted funds represent the fees receivable on the grant funding.

12. ANALYSIS OF NET ASSETS BY FUNDS

Fund balances as at 31 March 2024 Unrestricted
funds
Restricted
funds
Total
31 March
2024
Total
30 June
2023
£
£
£
£
Represented by:
Current assets
Current liabilities		 200,333
900,830
1,101,163
542,113
(154,006)
-
(154,006)
(35,206)
46,327
900,830
947,157
506,907

In 2022-23 total fund balances comprised £2,843 unrestricted and £504,064 restricted funds.

13. RELATED PARTY TRANSACTIONS

The Lancashire Wildlife Trust Limited is a member of Greater Manchester Environmental Trust (“GMET”) with the power to appoint one Trustee to their board. Dr T Burditt, the Chief Executive Officer of the Lancashire Wildlife Trust, is the charity’s appointed representative on the GMET board. During the period Lancashire Wildlife Trust provided management, organisational, administrative and supervision services to GMET for which £26,243 (30 June 2023: £41,156) was received in the statement of financial activities.

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

13. RELATED PARTY TRANSACTIONS (continued)

A balance of £467,232 was due to GMET (30 June 2023: £530,267) as at 31 March 2024 and £151,350 was due from GMET (30 June 2023: £31,908). This comprised net grants received on behalf of GMET of £328,180 (30 June 2023: £582,947 net grants received) and costs of services and costs on behalf of the charity of £12,298 (30 June 2023: £84,588). Grants totalling £27,425 (30 June 2023: £Nil) have been awarded to Lancashire Wildlife Trust by GMET during the period.

Greater Manchester Combined Authority (GMCA) is a member of Greater Manchester Environmental Trust (“GMET”) with the power to appoint one Trustee to their board. Mr M Atherton is the authority’s appointed representative on the GMET board. A balance of £518,441 was due to GMET (30 June 2023: £Nil) as at 31 March 2024. Grants totalling £1,334,991 (30 June 2023: £1,244,949) have been received from GMCA during the period.

It is the charity policy that Trustees must inform the board of their interests in grant applications at the start of Board meetings. The interested Trustee will not participate during the consideration of these applications. In the case of the Chair having an interest in an application, the Chair is taken by another Trustee.

14. CASH FLOW ANALYSIS

The reconciliation of net expenditure to net cash flow from operating activities
is as follows:		 31 March
2024
£
30 June
2023
£
Net income/(expenditure) for the period (from the statement of financial
activities)
(Increase) in debtors
Increase/(decrease) in creditors
Net cash inflow from operating activities
Analysis of cash and cash equivalents		 440,250
541,574
(476,558)
(525,058)
118,800
(16,516)
82,492
-
31 March
2024
30 June
2023
£
£
Cash in hand and at bank 87,492
5,000

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GREATER MANCHESTER ENVIRONMENT TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2024

15. COMPARATIVE FINANCIAL INFORMATION FOR THE FINANCIAL YEAR TO 30 JUNE 2023

Unrestricted
funds
Restricted
funds
Total
30 June
2023
£
£
£
Income
Donations
Charitable activities
Other income
Total income
Expenditure
Charitable activities
Other expenditure
Total expenditure
Net (expenditure) / income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 215
-
215
172,432
1,539,348
1,711,780
-
-
-
172,647
1,539,348
1,711,995
(199,100)
(964,475) (1,163,575)
-
-
-
(199,100)
(964,475) (1,163,575)
(26,453)
574,873
548,420
78,883
(78,883)
-
52,430
495,990
548,420
(49,587)
8,074
(41,513)
2,843
504,064
506,907
Unrestricted
funds
Restricted
funds
Total
30 June
2023
£
£
£
Current assets:
Debtors
Cash at bank and in hand
Total current assets
Liabilities
Creditors: falling due within one year
Net current assets
Total net assets
The funds of the charity:
Restricted funds
Unrestricted funds		 33,049
504,064
537,113
5,000
-
5,000
38,049
504,064
542,113
(35,206)
-
(35,206)
2,843
504,064
506,907
2,843
504,064
506,907
-
504,064
504,064
2,843
-
2,843
2,843
504,064
506,907

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