REGISTERED COMPANY NUMBER: 2224016 (England and Wales) REGISTERED CHARITY NUMBER: 900107 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for Stroud Valle sPro ect Limited millhall consultants Itd Carlson Suite Vantage Point Business Villag8 Mitcheldean Gloucestershire GL17 ODD
Stroud Valle sPro ect Limited Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 15 Detsiled Statement of Financial Activities 16 to 17
Stroud Valle sPro ect Limited Re ort of the Trustees for the Year Ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with Ihe financial statements of the charity for the year ended 31 March 2025. 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)- OBJECTIVES AND ACTIVITIES Objectives and aims The company is established for the public benefit for the following purposes in the area Gomprising local government of Stroud, Gloucestershire, and when appropriate the county of Gloucestershire.. To educate Ihe public in the natural history. history. geography, industrial archaeology and architecture of the Stroud District. To secure the protection, preservation, development and improvement of the natural and built environment of the Stroud District, in line with the principles of sustainable development. To provide facilities for recreation with the object of improving conditions for those living, working or visiting to the Stroud District, in line with Ihe principles of sustainable development. Originally founded in 1988 to protect the industrial and natural heritage of Stroud and its five valleys, Slroud Valleys Project (SVP) has established a reputation for proadive and constructive work with local community groups and volunteers= helping, inspiring and training them lo discover and nurture Ihe wildlrfe 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 to young and old. as well as to people who may have been cut off from Such activities by disadvantsge or disability- During the 2024-25 year, our key projects have been: Building Sensory Gardens with Local Communities.. National Lottery Reaching Communities fund is supporting a two year extension of the project., - Garden Guardians.. two year project funded by The National Lottery Heritage Fund: - Wildshed= funded by Gloucestershire County Council's Thriving Communities Fund.. Carers in Nature: funded through the NHS and Gloucestershire County Council., Wildworl( volunteer group.. supported by the 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 Conneded= funded through Stroud District Council and The National Lottery Heritsge Fund., Tree planting: various funders, including the Local Authority Tree Fund supported our COrd breaking programme of tree planting for the year. Public benefit Our vision is to support people and nature to thrive together, and our objectives are to: Ensure our charity has a sound and 5U5tainable business model-, Identify environmental projects throughout Gloucestershire in which we can work with local people to make better, healthi8r places in which to 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 parinerships local councils and other organisations to help us deliver a range of projects which meet our aims. Help, inspire and train individual people, communities and organisations to discover. understand and nurture the natural environment., Provide lifelong learning opportunities that support people to develop skills and knowledge. Page 1
Stroud Valle s Pro'ect Limited Re ort of the Trustees for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Additionally we have continued to work in partnership with several parish councils: with Cam Parish Council at Rackleaze Wetlands, with Cainscross Parish Council at Queen Elizabeth11 Playing Fields, with Kingswood Parish Council for the newi 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 inpul. The contribution by volunteers working on projects and in the office is often recognised by funders as match-funding. thereby giving it a quantifiable economic value. For this year. this is estimated to be in the region of £193.534 for the year, of which £5,075 relates to trustee 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 Ihe charity, and on the guidance provided by the Charity Commission for England and Wales and believe the activities during the financial year have furthered thé charity's purpose for the public benefit. ACHIEVEMENTS AND PERFORMANCE Charitsble activities During the year, all specific targets and requirements set by major funders have been met enabling us to claim full funding on all projects. Regular monitoring and progress reports have been delivered as required. The Garden Guardians project enabled us to fvrther strengthen our public events programme which has raised our public profile. In both key areas of work - grant-funded projects and work with local govemment and private organisations we offer opportunities for volunteers to learn new skills and get involved with practical work at local sites. Two clear areas of public benefit are in evidence in both areas of work: staff and volunteers achieve visible and sustainable improvements to biodiversity-rich and amenity greenspaces.. and volunteers themselves have benefited from learning new skills, improved health and increased sense of wellbeing through undertaking meaningful work in their local community. Looking ahead, SVP is starting lo assess the potential impact of devolution and reform to local government structure and what this could mean for the current Stroud district. The ¢harity'5 subsidiary. SVP eco shop continues to pay a significant rent and management fee to SVP. FINANCIAL REVIEW Financial position As at 31 March 2025 the charity holds Unrestricted Funds of £141,619 (2024: £111,494). During this year, th8 Charity has made significant investment at its own Frome Banks which has had an impact on reserves. amount of funding for projects for the 2025126 year has been secured and fvndraising for both new and existing projects continues to support our position. Page 2
Stroud Valle s Pro'ect Limited Re ort of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The company is established under a Memorandum of Association which established the objects and powers of the charitable company and is govemed under its Articles of Association. The charity is a company limited by guarantee. having no share capital. The charity is govemed by a Board of Trustees who are directors of the charitable company. With the 8xception of the Stroud District Council representative, all trustees are COvOPted. Trustees are appointed for a term of years, after which they retire, bul may be re*lected. New trustees are recNited as and when required on the basis of their skills and experience in relation lo Ihe needs of the charity. The Articles of Association provide for a minimum of four and a maximum of 25 directors. Board members. skills include environmental consultancy, ecology, Gommunity engagement, local government, architecture and building conservation, management (of both people and projects). the law. public relalions, and communications. The trustee induction programme includes an initial meeting with the Chair and the Chief Executive, who provide them with infomiation about the charivs history and current activities, as well as supporting documenlation including a copy of the Memorandum and Articles of Association, minutes from recent meetings, and the previous yearfs accounts and trustees. annual report. The charity supports ongoing training for trustees as required. Day-to-day decision making is delegated to the Chief Executive, Clare Mahdiyone, while trustees are responsible for strategic and significant financial decisions. The trustees assess business and financial risk lo which the charity is exposed, establishing systems and procedures to ensure thal major risks are recorded on a risk register, assessed. managed and minirnised. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 2224016 (England and Wales) Reglstered Charlty number 900107 Registered offlce 8 Threadneedle Street Stroud Gloucestershire GL5 1AF Trustees S L Arundel Retired Prof H J M Barton Author G L Beckerleg Architect M A Brown Counsellor M Graham Ecologist Ms S C Parkes Public Relations Ms S M Ratcliffe Patent Attomey P G SeGcombe Environmental Consultant Company Secretary Ms D Coleman Page 3
Stroud Valle Pro'ect Limited ort of the Trustees for the Year Ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Ben Hall FCA millhall consultants Itd Carlson Suite Vantage Point Business Village Mitcheldean Gloucestershire GL17 ODD 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 wilh 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 Ihe incoming resources and application of reSoUrs, including Ihe income and expenditure, of the charilable company for that period. In preparing Ihose financial 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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the haritable company and hence for taking reasonable sleps for the prevention and detection of fraud and other irregu5arities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitsble company's website. Approved by order of the board of trustees on 10 September 2025 and signed on its behalf by.. Ms S C Parkes - TTUStee Page 4
Inde endent Examinerfs Re ort to the Trustees of troud Valle sPro ect Limited Independent examlner's report to the trustees of Stroud Valleys Projecl Limited {Yhe Company.) report to the charity trustees on rny examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charivs 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 Ihe 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 tha 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 Seclion 145(5} Ib) of the 2011 Act. Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examinalion because l 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 Ihat 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 the accounts do not accord with those records. or the accounts do not comply with the accounting requiremenls of Section 396 of Ihe 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 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 Iheir 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. Page 5
Inde endent Examinetrs Re ort to the Trustees of troud Valle sPr ct Limited Use of our report This report is made solely to the charitable company's trustees, 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 stale to the companls trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees, as a body, for my work, for this report, or for the opinions I have formed. Be all FCA I millhall consultanls Itd Carlson Suite Vantage Point Business Village Mitcheldean GIoustershlr6 GL17 ODD 10 September 2025 Page 6
Stroud Valle s Pro'ect Limited Statement of Financial Activities for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted Restricted funds fund Notes INCOMEAND ENDOWMENTS FROM Donations and legacies 59,763 12,640 72,403 83,480 Charitable activities Charitable Activites 60,834 204,075 264.909 203,769 Investment income Other income 416 21,961 416 21,961 295 20,492 Total 142,974 216,715 359,689 308,036 EXPENDITURE ON Raising funds 3,701 2,493 6,194 27,803 Charltable actlvllles Charitable Activities 162,773 160,597 323,370 254,010 Total 166,474 163,090 329,564 281,813 NET INCOMEI{EXPENDITURE) Transfers between funds (23.500) 53,625 53,625 (53.625) 30,125 26,223 10 Net movement in funds 30,125 30,125 26,223 RECONCILIATION OF FUNDS Total funds brought forward 111,494 111,494 85.271 TOTAL FUNDS CARRIED FORWARD 141.619 141,619 111,494 The notes form part of these financial statements Page 7
Stroud Valle Pro'ect Limited Balance Sheet 31 March 2025 2025 Total funds 2024 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets 70,959 70,959 3,298 CURRENT ASSETS Debtors Investments Cash at bank 45,856 50 118,277 45,856 50 118,277 64.228 128.501 164,183 164,183 192,729 CREDITORS Amounts falling due wthin one year (93,523) {93,523) (84,5331 CURRENT ASSETS 70,660 70,660 108,196 TOTAL ASSETS LESS CURRENT LIABILITIES 141,619 141,619 111.494 NET ASSETS 141,619 141,619 111,494 FUNDS Unrestricted funds 10 141,619 111,494 TOTAL FUNDS 141,619 111,494 The charitable company is entitled to exemption from audit under Section 477 of the Companies Art 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable cornpany keeps accounting 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 state of affairs of Ihe 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 Sertions 394 and 395 and which olherwise comply with the requirements of the Companies Act 2006 relating to financial stslements, so far as applicable to the ¢haritable company. Ib) The notes fonn part of these financial statements Page 8 continued...
stroud Valle sPro ect Limited Balance Sheet- continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 10 Seplember 2025 and were signed on its behalf by.. S C Parkes - Trustee The notes form part of these financial statements Page 9
Stroud Valle s Pro'ect Limited Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements of the charitable company. which is a public bénefil entity under FRS 102. have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicablé to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Sreland {FRS 102} (effective 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, and Ihe Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charfty has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits wll be required in setuement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Taxation The charity is exempt from corporation tsx on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricled pUoseS wthin Ihe objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of Ihe nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Penslon costs and other post-retirement benefits The Gharitable COTnpany operates a defined contribution pension scheme. Contributions payable to the charitable companls pension scheme are charged to the Ststement of Financial Activities in the period to which they relate. Page 10 continued...
Stroud Valle Pro'ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 INVESTMENT INCOME 2025 2024 Bank Interest 416 295 NEf INC0MEI{EXPENDuRE) Net incomel(expenditure) is stated after chargingl(creditingl: 2025 2024 Depreciation - owned assets Hire of plant and machinery Other operating leases 8,435 1,525 593 824 1,647 1,401 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees. expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 77,883 5.597 83,480 Charitable activities Charitable Activites 62.561 141.208 203,769 Investment income Other income 295 20,492 295 20.492 Total 161,231 146,805 308,036 EXPENDITURE ON Raising funds 18,860 8,943 27.803 Charitable activities Charitable Activities 118.609 135.401 254,010 Total 137,469 144,344 281.813 NET INCOME Transfers between funds 23,762 2.461 2.461 (2.461) 26,223 Page11 continued...
Stroud Valle s Pro'ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund Total funds Net movement in funds 26,223 26.223 RECONCILIATION OF FUNDS Total funds brought forward 85,271 85,271 TOTAL FUNDS CARRIED FORWARD 111,494 111,494 TANGIBLE FIXED ASSErs Fixtures and fittings Freehold propety Totals COST At 1 April 2024 Additions 66.785 1.662 66.785 76.096 74,434 At 31 March 2025 74,434 68.447 142,881 DEPRECIATION At 1 April 2024 Charge for year 63,487 992 63,487 8,435 7.443 At 31 March 2025 7,443 64.479 71,922 NET BOOK VALUE At 31 March 2025 66,991 3,968 70.959 At 31 March 2024 3,298 3,298 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Amounts owed by group undertakings Prepayments 23,407 18,799 3.650 13.888 46,786 3.554 45.856 64,228 Page 12 continued...
Stroud Valle s Pro'ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 CURRENT ASSET INVESTMENTS 2025 2024 Unlisted investments 50 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Social security and other laxes Accruals and deferred income 8,830 7,510 77,183 2,000 3,049 79,484 93,523 84,533 10. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 3113125 At 114124 Unrestricted funds Unrestricted funds 111,494 {23,500) 53.625 141.619 Restricted funds Restricted funds 53.625 (53,625) TOTAL FUNDS 111,494 30.125 141.619 Net mov6ment in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds Unrestricted funds 142,974 (166.474) 123,500) Restricted funds Restricted funds 216.715 (163,090) 53,625 TOTAL FUNDS 359.689 (329.564) 30,125 Page 13 continued...
Stroud Valle sPro ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers beeen funds At 3113124 At 114123 Unrestricted funds Unrestricted funds 85,271 23,762 2,461 111,494 Restricted funds Restricted funds 2.461 (2,461) TOTAL FUNDS 85,271 26,223 111,494 Comparative net movement in fijnds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unrestricted funds Unrestricted funds 161.231 {137,469} 23,762 Restricted funds Restricted funds 146,805 (144,344) 2,461 TOTAL FUNDS 308.036 (281,813) 26,223 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 3113125 At 114123 Unrestricted funds Unrestricted funds 85,271 262 56,086 141.619 Restricted funds Restricted funds 56,086 (56,086) TOTAL FUNDS 85.271 56.348 141.619 Page 14 continued...
Stroud Valle sPro ect Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unrestricted funds Unrestricted funds 304,205 (303,943) 262 Restrlcted funds Restricted funds 363,520 {307,434) 56,086 TOTAL FUNDS 667,725 (611,377) 56,348 11. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2025. Page 15
Stroud Valle s Pro'ect Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Legacies Admissions Donated ServIS and facilities Events 43.236 3,577 16,000 304 4.831 4,455 56,616 2.690 11.306 208 3,048 9,612 72,403 83,480 Investment income Bank Interest 416 295 Charitable activities Grants Conlracts & SLAS 225.864 39,045 158,313 45,456 264,909 203.769 Other income Rent Income Insurance claim 21.961 19.230 1.262 21,961 20,492 Total incoming resources 359,689 308,036 EXPENDITURE Raising donations and legacies other operating leases operating a trading subsidiary 593 1,401 15,837 593 17,238 Other trading activities Purchases Bank interest 5.010 591 10.214 351 5,601 10,565 Charitable activities Wages & Salaries Carried forward 222,167 222.167 173,179 173,179 This page does not form part of the statutory financial statements Page 16
Stroud Valle s Pro'ect Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 2024 Charitable activities Brought forward Social security Pensions Hire of plant and machinery Rates and water Insurance Light and heat Telephone Poslage and stationery Sundries Project Materials Contractors ToolslEquipment - not Gapitali Volunteer Expenses Training Rent Travelling Office Machine Maintenance Repairs and Renewals Cleaning Premises Expenses Refreshments Recruitment Expenses Audit and Accountsncy Fees Plant and machinery Fixiures and ffttings 222.167 11.760 5,890 1,525 561 4,298 3,915 1,407 2.371 3.414 11,265 13,335 1,608 433 880 16,175 4,299 4,103 149 185 483 2,009 87 2,616 8,435 173,179 4,982 5,154 1,647 607 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 2,544 824 323,370 254.010 Total resources expended 329,564 281,813 Net Income 30.125 26,223 This page does not form part of the statutory financial statements Page 17