REGISTERED COMPANY NUMBER: 2224016 {England and Wales) REGISTERED CHARITY NUMBER: 900107 orl of the Trustee and Unau d Financial Slata ents f th6 Ye r End8 1Ma 2024 tr Pro 8Ct Li millhall consultants Itd Carlson Suite Vantage Point Business Village Mitcheldean Gloucestershire GL17 ODD
Stroud Valle sPro ect Limited Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities 88lance Sheet Notes to the Financial Statements 8 to 13 Detailed Statement of Flnancial Activities 14 to 15
Stroud Valle sPro ect Limited ort of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Acl 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R8public of Ireland {FRS 1021 {effe¢tive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectlves and aims Th6 company is established for th8 public benefit for the following purposes in the area comprising local government of Slroud, Glouceslershire, and when appropriate the county of Gloucesl8rshire'. To educate the public in the natural history, history, geography, industrial archaeology and architecture of the Slroud District. To secure the protection, preservation, development and improvement of the natural and built environment of the Stroud Districl, in line with the principles of sustainable development, To provid8 facilities for recreation with the object of improving conditions for those living, working or visiting to the Stroud District, in line with the principles of sustainable development. Originally founded in 1988 to protect the industrial and natural heritage of Stroud and its flve valleys, Stroud Valleys Project {SVPl has established a reputation for proactive and constructive work with local community groups and volunteers.. helping, inspiring and training them lo discover and nurture the wildlife and green spaces on their doorsteps. SVP opens up opportunities for a much wider group of people to become involved in environmental improvement, reaching out lo young and old, as well as lo people who may have been cut off from such 8clivili8s by disadvantage or disability. During the 2023-24 year, our key proj8cls have been.. Building Sensory Gardens wllh Local Communltles.. Natlonal Lottery Reaching Communilles fund Is supporting a two year extension of the projecl., Garden Guardians.. two year project funded by The National Lottery Heritage Fund., Wildshed., funded by GIouc6slershire County Council's Thriving Communities Fund., Carers in Nature.. funded through the NHS and Gloucestershire County Council, Wildwork volunteer group. support8d by th8 Police and Crime Commissioner for Gloucestershire,. Creative Shed., funded by various small donations, and reinvesting income from sales of the group's products; Employment and Skills Hub Outreach Project.. funded by Gloucestershire County Council through the UK Shared Prosperity Fund., Cotswold Canals Connected.. funded through Stroud District Council and The National Lottery Heritage Fund., Tree planting.. various funders, including the Local Authority Tree Fund supported our record breaking programme of tree planting for the year., Publlc beneflt Our vision is to support people and nature to thrive logether, and our obj8Ctives are to.. Ensure our charity has a sound and sustainable business model,. Identify environmental projects throughout Glouceslershire in which we can work with local people to make better, healthier places in which lo live, now and in the future-, Promote inclusivity by working with a wide range of people from all sectors of the community., Develop sustainable long-term partnerships with local councils and other organisations to help us deliver range of projects which meet our aims., Help, inspiro and train individual people, communities and organisalions to discover, understand and nurture the natural environment., Provide lifelong learning opportunit18S that support people to develop skills and knowledge. Page 1
Stroud Valle sPro ect Limited ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES ANI) ACTIVITIES Additionally we have continued lo work in partnership with several parish councils, with Cam Parish Council at R8ckleaze Wetlands, with Cainscross Parish Council at Queen Elizabeth 11 Playing Fields, with Kingswood Parish Council for the newt ponds within the parish and with Berkeley Town Council at Sarah's Field and Canon Park. We have also continued lo work in the Walled Garden at Prinknash Abbey, as well as on our own sites at Arundel Mill Pond and Frome Banks. All our projects are designed to encourage Community involvement and all have significant volunteer Input. The contribution by volunt88rs working on projects and in th8 office is often recognised by funders as malch-funding, thereby giving it a quantifiable economic value. For this year, this is estimated lo be in th8 region of £136,215 for the year, of which £5,350 relates lo Iruslee contribution {based on values of £350 per day for professional contributions, £150 for skilled contributions and £80.50 for unskilled). The trustees have reflected on the public benefit of the charSty, and on the guidance provided by the Charity Commission for England and Wales and beli8v8 the acliviti8s during the financial year have furthered thé charily's purpos8 for th8 public benef it. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles During the year. all specific targets and requlrements set by major funders have been met enabllng us to claim full funding on all projects. R8gular monltoring and progress reports have been delivered as required. We have conlinu8d lo strengthen our public events programme which also helps to increase our public profile. In both key areas of work - granl-funded projects and work with local government and private organlsations we offer opportunities for volunteers lo léarn new skills and get involved with practical work al local sites. Two clear areas of public benefll are in 8vidence in both areas of work.. staff and volunt8er5 achieve visible and sustainable improv8m8nts to biodiversily-rSch and amenity greenspaces, and volunteers themselves have benefited from learning new skills, improved health and increased sens8 of wellbeing through und8rtaking meaningful work in Ih6ir local community. The charity's subsidiary, SVP eco shop continues to pay a significant rent and management fee to SVP FINANCIAL REVIEW Flnanclal posltlon As al 31 March 2024 the charity holds Unrestricted Funds of £111,494 (2023.. £85,271). The charlty Is pleased lo report that a robust approach to fundraising has allowed it to start to rebuild reserves, depleted in recent years. A significant amount of funding for projects for the 2025126 year has been secured. Page 2
Stroud Valle sPro ect Limited Re ort of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The company is established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charity is a company limited by guarantee, having no share capital. The charity is governed by a Board of Trustees who are directors of the charitable company. With the 8XC8plion of the Slroud Dislricl Council r8prasantativè, all trustaès are co-op16d. Trustees are appointed for a term of two years, after which they retire, but may be re-elected, New trustees are recruited as and when required on th8 basis of their skills and experience in relation to th8 needs of th8 charity. The Articl8s of Association provide for a minimum of four and a maximum of 25 directors. Board members, skills include environmental consultancy. ecology, local government, architecture and building conservation, management (of bolh people and projects), the law, public relations, and communications, The trustee induction programme includes an initial meeting with the Chair and the Chief Executive, who provide them with information about the charills history and current activities, as well as supporting documentation including a copy of the M8morandum and Articles of Association, minut8s from recent meetings. and the previous year's accounts and trustees, annual report. The charity supports ongoing training for trustees as r8quired, Day-lo-day decision making is d8legat8d to the Chief Executive, Clare Mahdiyon8, whlle trustees are responsible for strategic and significant financial decisions. The trustees assess business and financial rlsk to which the charlty is exposed, establishing systems and procedures to ensure that major risks are record8d on a risk register, assessed, managed and minimised. REFERENCE AND ADMINISTRATIVE DETAILS Reglsterad Company number 2224016 IEngl8nd and Wa18s} Reglstared Charlty number 900107 Reglstered offlce 8 Threadneedle Street Stroud Gloucestershire GL5 1AF Trustees S L Arundel Retired Prof H J M Barton Author G L Beckerleg Architect A Brown Counsellor M Graham Ecologist Ms S C Parkes Public Relations Ms S M Ralcliffe Palenl Attorney P G Seccombe Environmental Consultant Company Secretary Ms D Coleman Independent Examlner 8en Hall FCA millhall consultants Itd Carlson Suite Vantage Point Business Village Milcheldean Gloucestershire GL17 ODD Page 3
Stroud Valle sPro ect Limited Re ort of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Stroud Valleys Project Limited for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢Gepted Accounting Practice). Company law requires the Iruslees to prepar8 financial statements for each financial year which give a true and fair view of the stale of affairs of the charitabl@ company and of the incoming resources and application of resourc8s, including the income and expenditure, of the charitable company for that period. In preparing those flnancial statements. the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent., propare the financial s1018ments on the going concèrn basis un1885 It is inappropriate to presum8 that the charitable company will continu8 in business. The trustees are responsible for keeping proper accounting records whlch dlsclose wllh r8asonable accuracy al any time the financial position of the charitab18 company and to 8nable them lo 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. The trustees are responsible for the main18nanc8 and integrity of the corporate and financial information included on the charitable Company's website. Approved by order of the board of trustees on 12 September 2024 and slgned on Ils behalf by.. Ms S C Parkes- Trustee Page 4
Inde endent Examiner's Re ort to the Trustees of Stroud Valle spro ect Limited Independent examiner's report to the trustees of Stroud Valleys Project Limited {'the Company.) report lo the charity trustee5 on my examination of the accoLJnls of the Company for the year ended 31 March 2024. Responsibilities and basis of roport As the charity's trustees of the Company land also its directors for the purposes of company lawl 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 ba audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my 8xamination of your charity's accounts as carried out under Section 145 of th8 Charitles Act 2011 I'lhe 2011 Acl'}. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) Ib} of the 2011 Act, Independent examiner's statement Since your charity's gross income 8XC86ded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified lo undertake the examination because l am a member of the Insliluta of Chartered Accountants in England and Wales, whlch Is one of th8 Ilsled bodles. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving m6 cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or th8 accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Sectlon 396 of the 2006 Act other than any requirement that the accounts give a true and falr view which is not a matter considered as parl of an independent examination,, or the accounts have not b8an prepared in accordancè with the methods and princlples of the Slalement 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 IFRS 102}1. I have no concerns and have come across no other matters in connectlon wlth the examination to whSch attention should be drawn in this r8POrt In order to enable a proper understanding of the accounts to be reached. Use of our report This report is made so181y to the charitable companls Iruslees, as a body, in accordance with the regulations made under Section 154 of the Charities Act 2011. My work has been undertaken so that I might slate lo the companls trustees those mallers l am required lo stale lo them in an independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not acc8PI or assume responsibility lo anyone other than the charitab16 company and the charitable company's trusteés, as a body, for my work, for this r8POrt, or for the opinlons I have form8d, Bén Hall FCA millhall consultants Itd Carlson Suite Vantage Point Business Village Milcheldean Gloucestershire GL17 ODD 12 September 2024 Page 5
Stroud Valle sPro ect Limited Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund Nolgs INCOME AND ENDOWMENTS FROM Donations and legacies 77,883 5.597 83,480 48,093 Charltablo a¢tlvltlo$ Charitable Activite5 62,561 141.208 203,769 187.574 Investment income Other income 295 20,492 295 20,492 33 18,187 Total 161,231 146,805 308,036 253,887 EXPENDITURE ON Raislng funds 18,860 8,943 27,803 21,631 Charltable actlvltles Charitable Activities 118,609 135.401 254,010 236,504 Total 137,469 144,344 281,813 258,135 NET INCOMEIIEXPENDITURE) Transfers between funds 23,762 2,461 2,461 (2,4611 26,223 (4,248) Net movement In funds 26,223 26,223 14,248) RECONCILIATION OF FUNDS Total funds brought forward 85,271 85,271 89,519 TOTAL FUNDS CARRIED FORWARD 111,494 111,494 85,271 The notes form part of these financial statements Page 6
Stroud Valle sPro ect Limited Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets 3,298 3,298 3,285 CURRENT ASSETS Debtors Cash at bank 64,228 128,501 64.228 128,501 62,925 153,575 192,729 192,729 216,500 CREDITORS Amounts falling due within one yaar 184,533} {84,533) {134,5141 NET CURRENT ASSETS 108,196 108,196 81,986 TOTAL ASSETS LESS CURRENT LIABILITIES 111,494 111,494 85,271 NET ASSETS 111.494 111,494 85,271 FUNDS Unreslricled funds 111,494 85,271 TOTAL FUNDS 111,494 85,271 The charitable company is entitled to exemption from audit under Sectlon 477 of the Companies Act 2006 for the year ended 31 March 2024, The members have not requSred the company to obtaln 8n audit of ils flnancial statements for Ihe y8ar ended 31 March 2024 in accordance with Secllon 476 of the Companies Act 2006. The trustees acknowledge their responsibililies for (a) ensuring that the charitable company ke8ps accountlng records that comply with Seclions 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the slate of affairs of the charitable Company as al the end of each financial year and of ils surplus or deficit for 8ach financial year in accordance with the requirements of Sections 394 and 395 and which Oiherwise comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applicable lo the charitable company. Ib) These financial statements have been prepared in accordance with the provisions applicabl8 to charitable companies subject lo the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 September 2024 and were sign8d on its behalf by.. S C Parkes - Trustee The notes form part of these financial statements Page 7
Stroud Valle sPro ect Limited Notes to the Financial Statements for the Year Ended 31 March 2024 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 IFRS 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 IFRS 102) leffectlV8 1 January 20191,, Financial Raporting Standard 102 'The Financial R8POrting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historlcal cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be m8asured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation COTnmitting the charity lo that expenditure, it is probable that a transfer of economic benefits will be r8quired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified und8r headings that aggregate all cost related lo the category. Where costs cannot be directly altrlbuted to particular headings they have been allocated to actlvllies on a basis consistent with the use of resources. Tanglble flxed assets Depreciation is provided at the following annual rates in order lo write off each asset over its estimated useful life. Taxatlon The charity is exempt from corporation lax on ils charitable activities. Fund accounting Unrestricted funds can be used in accordance Wlth the charitable objectives at the discretion of the trustees. Restricted funds can only be used for partl¢ular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or whèn funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in th8 notes lo the financial stal8m8nts. Hlre purchase and leasing commltments Rentals paid under operating leases are charged to the Statement of Financial Activltles on a straight line basis over the period of the lease. Penslon costs and other post.retlrement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension s¢heme are charged to the Statement of Financial Activities in the period to which they relate. Page 8 continued..-
Stroud Valle sPro ect Limited Notes lo the Financial Statements - continued for the Year Endeij 31 March 2024 INVESTMENT INCOME 2024 2023 Bank Interest 295 33 NET INCOMEI(EXPENDITURE) Net incomel{expenditure) is slated after chargingllcreditingl.. 2024 2023 Depreciation - owned assets Hire of plant and machinery Other operating leases 824 1,647 1,401 821 1,591 217 TRUSTEES, REMUNERATION AND BENEFITS There were no Irust6es' remuneratlon or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expen$e8 There were no Iruslees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted R8Stricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 46,552 1,541 48,093 Charltable actlvltl•8 Charitable Acliviles 49,299 138,275 187,574 Investment income Other income 33 18,187 33 18,187 Total 114,071 139,816 253,887 EXPENDITURE ON Raising funds 21,392 239 21,631 Charltable actlvltles Charitable Activities 109,119 127,385 236,504 Total 130,511 127,624 258,135 NET INCOMEI(EXPENDITURE) Transfers between funds 116,440) 12,192 12,192 (12,1921 {4,2481 Net movement in funds 14,2481 14,248} RECONCILIATION OF FUNDS Total funds brought forward 89,519 89,519 Page 9 continued...
Stroud Valle s Pro'ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund Total funds TOTAL FUNDS CARRIED FORWARD 85,271 85,271 TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 April 2023 Additions 65,948 837 At 31 March 2024 66,785 DEPRECIATION Al 1 April 2023 Charge for year 62,663 824 At 31 March 2024 63,487 NET BOOK VALUE Al 31 March 2024 3,298 At 31 March 2023 3,285 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amounts owed by group undertakings Prepayrn8nls 13,888 46,786 3,554 14,687 44,881 3,357 64,228 62,925 Page 10 continued..
Stroud Valle sPro ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Accruals and deferred income 2,000 3,049 79,484 2,430 2,905 129,179 84,533 134,514 MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 3113124 At 114123 Unrestrlctèd funds Unrestricted funds 85,271 23,762 2,461 111,494 Rostricted funds Restricted funds 2,461 (2,461) TOTAL FUNDS 85,271 26,223 111,494 N6t movement in funds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unrèstrlcted fund8 Unrestricted funds 181,231 {137,4691 23,762 Rostrlcted fund$ Restricted funds 146,805 {144,344J 2,461 TOTAL FUNDS 308,036 (281,813) 26,223 Comparatives for movemant In funds Net movement in funds Transfers between funds At 3113123 At 114122 Unrestricled funds Unrestricted funds 89,519 (16,4401 12,192 85,271 Restrlcted funds Restricted funds 12,192 (12,1921 TOTAL FUNDS 89,519 {4,248} 85,271 Page 11 continued...
Stroud Valle sPro ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestrlcted funds Unrestricted funds 114,071 (130,5111 116.440) R8Strl¢ted funds Restrict8d funds 139,816 (127,624) 12,192 TOTAL FUNDS 253,887 1258,1351 (4,2481 A current year 12 months and prior year 12 months combined position is as follows., Net Transfers movement betwe8n in funds funds At 3113124 At 114122 Unrestrlcted funds Unreslrict6d funds 89.519 7,322 14,653 111,494 Restrlcted fund8 Restricted funds 14,653 114,653) TOTAL FUNDS 89,519 21,975 111,494 A current year 12 months and prlor year 12 months combined net mov8m8nl in funds, includ8d In the above are as follows.. Incoming Resources Movement resources expended in funds Unrostrlct8d fund8 Unrestricted funds 275,302 1267,980} 7,322 Restrlcted funds Reslrict8d funds 286,621 (271,9681 14,653 TOTAL FUNDS 561,923 {539,9481 21,975 Page 12 continued.-.
Stroud Valle sPro ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 10. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 13
Stroud Valle sPro ect Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 INCOME AND ENDOWMENTS Donations and l•ga¢los Donations Gift aid Legacies Admissions Donated sarvices and facilities Events 56,616 2,690 11,306 208 3,048 9,612 33.901 1,937 443 3,726 8,086 83,480 48,093 Investment Income Bank In16resl 295 33 Charltabla actlvltles Grants Contracts & SLAS 158,313 45,458 132,903 54,671 203,769 187,574 Other Income Rent Incom8 Insurance claim 19,230 1,262 18,187 20,492 18,187 Total Incomlng resources 308,036 253,887 EXPENDITURE Ralslng donatSon8 and 1ogaclo8 Wages Other operating leases Operating a trading subsidiary 4,922 217 13,904 1,401 15,837 17,238 19,043 Other tradlng actlvltles Purchases Bank interest 10,214 351 2,161 427 10,565 2,588 Charitable actlvitie$ Wages & Salaries Social security Pensions Hire of plant and machinery Carried forward 173,179 4,982 5,154 1,647 184,962 154,008 9,640 4,691 1,591 169,930 This page does not form part of the statutory financial statements Page 14
Stroud Valle sPro ect Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 Charitable actlvltles Brought fOard Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Project Materials Contractors ToolslEquipment - not capitall Volun18er Expenses Training Rent Travelling Office Machine Maintenance Repairs and Renewals Cleaning Premises Exp8ns88 Refreshments Recruitment Expenses Audit and Accountancy Fees Professional Fees Fixtures and fittings 184,962 607 3,744 4,845 1,279 2,364 2,132 9,338 18,115 1,765 198 339 13,629 3,234 717 224 130 1,128 1,703 189 2,544 169,930 750 3,599 4,326 1,321 2,200 720 15,947 6,959 1,996 361 1,482 13,570 3,950 1,421 171 140 806 1,999 141 2,652 1,242 821 824 254,010 236,504 Total resources expended 281,813 258,135 Nel Incomel{expendlturel 26,223 14,248) This page does not form part of the statutory financial statements Page 15