REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
FOR |
RENEWABLE HERITAGE TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
FOR |
RENEWABLE HERITAGE TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
RENEWABLE HERITAGE TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2022 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Balance Sheet | 9 | to | 10 |
Notes to the Financial Statements | 11 | to | 15 |
RENEWABLE HERITAGE TRUST |
REFERENCE AND ADMINISTRATIVE DETAILS |
For The Year Ended 31 July 2022 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Fortus North Limited |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 July 2022 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2022. 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 |
In setting the objectives and planning the activities for the year, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit. |
The company is a charity and exists to preserve for the benefit of the people of the locality of any project undertaken and of the nation, the historical, architectural and constructional heritage that may exist in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest, which may, without detriment to the building's heritage, be adapted to generate renewable energy. |
The current specific objective has been to complete the renovation of Howsham Mill in North Yorkshire and run it as an environmental education centre. All of the Trust's work at present revolves around this objective. |
The main activities of the year consisted of: |
- Maintenance and repairs to the two Archimedes Screw turbines and the waterwheel; |
- Publicising the Trust and its work through regular opening of the mill; |
- Hosting primary school pupils to learn about renewable energy, milling and bread-making and the natural history of the river and the island; |
- Organising events for children during the school holidays; |
- Providing volunteering opportunities for local people;Providing a venue for other groups' events: |
- Participating in English Heritage's national Heritage Open Day; |
STRATEGIC REPORT |
Achievement and performance |
With the lifting of all Covid restrictions, educational visits were higher than in the previous year. A total of 1067 children from 15 schools, two home educated groups and one cub group came during the year. Other activities also started again with craft courses, a writing workshop and a U3A group visit. |
The annual Heritage Open Day took place across England and on Sunday 12 September 2021, 110 adults and 24 children came for their first visit to the mill. |
Both screws have operated satisfactorily during the year. The waterwheel was off for a period for the replacement of the generator bearings. The turbines were only shut down due to high river level for one week in February. Although rainfall was below average, conditions were generally favourable for electricity generation. Consequently, 58% more electricity was produced compared with the previous year, making it the best year to date. |
A significant development was the laying of an underground cable from the mill to Howsham Hall to supply electricity. The connection went live on 16 January 2022. All the costs were borne by HPC. Electricity will be sold at a price between the grid wholesale rate and the standard import rate. This will benefit RHT in the long-term, particularly when the feed-in tariff ends. |
In July, The Story of Howsham Mill was published. It describes the project from inception to the present day and is illustrated with photographs. |
Financial review |
Financial position |
During the year £37,000 was gifted from HPC to RHT, a slight reduction on the previous year. |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 July 2022 |
STRATEGIC REPORT |
Financial review |
Investment policy and objectives |
At present there are insufficient surplus funds to invest elsewhere. |
Reserves policy |
The money in the deposit account was untouched and the balance is about £12,670. |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 July 2022 |
STRATEGIC REPORT |
Principal Risks and Uncertainties |
The Trustees have given consideration to any exposure and the results are listed below: |
Risk | Effect | Probability | Impact (1 to 10) | Exposure |
River floods buildings | Damage to tools & equipment | 10% | 5 | 0.5 |
Damage to building fabric | 10% | 1 | 0.1 |
Revenue lost on generation | 10% | 2 | 0.2 |
River floods generator | Generator damaged | 1% | 5 | 0.05 |
Vandalism | Equipment or building damaged | 5% | 8 | 0.4 |
Screw/wheel failure | Revenue lost on generation | 5% | 5 | 0.25 |
Public Liability incident | Trust is sued and damages awarded | 1% | 10 | 0.1 |
River flow changes | Revenue lost on generation | 5% | 3 | 0.15 |
Weir collapses | Revenue lost on generation | 1% | 8 | 0.08 |
Pollution Incident | Cleanup costs, fine | 2% | 8 | 0.16 |
Water supplycontaminati on | Public become ill after drink water | 1% | 10 | 0.1 |
Electric price falls | Revenue lost on generation | 15% | 3 | 0.45 |
Buying company failure | Revenue lost | 10% | 5 | 0.45 |
Risk | Trigger Event | Mitigation Strategy | Actions |
River floods buildings | Storms or snow melt | Environment Agency early warning | Lift all vulnerable items to first floor |
River floods buildings | Storms or snow melt | Design anticipates flooding | Washout afterFlooding |
River floods buildings | Storms or snow melt | Design calculations include | None |
River floods generator | Storms or snow melt | O&M Replacement Allowance | Replace |
Vandalism | CCTV System, plastic windows, Police visits etc. | Monitor CCTV, regular site visits, Police callouts |
Screw or waterwheel failure | O&M Replacement Allowance | Regular checks & maintenance |
Public Liability incident | Site accident | Public Liability Insurance & Volunteer Disclaimers | Install safety signs, checks on play equipment, with log book |
River flow changes | Climate change | System only requires a small part of total river flow | None |
Weir collapses | Undermining, vegetation growth | Weir is owned by Environment Agency - ABS Licence requires them to carry out repair it | Remove vegetative growth & advise Environmental Agency of issues |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 July 2022 |
STRATEGIC REPORT |
Pollution Incident | Oil spill, concrete spillage, silt release | Minimise use, use biodegradable lubricants, include berms and secondary containment | Provide spill kits, assess need for secondary containment, no transport of hazardous materials by river, coffer dam and silt trap for river works |
Water supply contamination | Filters not changed, UV filter not working, hot water not boiled | Proper equipment maintenance | Prepare a maintenance schedule with log book |
Electric price falls | Government policy, nuclear power, recession | Long term contract, use of Feed in Tariff to fix for 20 years | Assess the market and choose low risk options |
Risk Matrix |
Impact |
9-10 | 2 | 0 | 0 |
7-8 | 3 | 0 | 0 |
5-7 | 3 | 0 | 0 |
3-4 | 2 | 0 | 0 |
1-2 | 2 | 0 | 0 |
1% - 20% | 21% - 40% | 41% - 60% |
Probability |
Future plans |
School visits have increased over the year. More schools have been applying for visits and RHT hopes to continue attracting new schools. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by guarantee, incorporated on 5 July 2004 and registered as a charity on 23 December 2004. |
The company was established under a Memorandum of Association, which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the Company being wound up members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of New Trustees |
The directors of the company are also charity trustees for the purpose of charity law and under the Company's Articles are known as Trustees. Under the requirements of the Memorandum and Articles of Association one-third (or the number nearest one-third) of the Trustees must retire at each AGM, those longest in office retiring first and the choice between any of equal service being made by drawing lots. |
Organisational structure |
The Trust has a management committee of between 3 and 10 Trustees which meets bi-monthly to discuss and set strategic and operational policy. Individual duties and responsibilities with regard to the day to day operations of the Trust are agreed by consensus. |
Induction and training of new trustees |
Most Trustees are already familiar with the practical work of the Trust and are provided with information on the responsibilities and duties of charity trustees prior to formal appointment. In addition, Trustees are made aware of the specific requirements through provision of the Memorandum and Articles of Association. Opportunities to clarify any queries or areas of uncertainty are afforded by the Chair of the Trust. |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 July 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
Individual Trustees hold appropriate qualifications and experience to ensure compliance with Health and Safety ('H&S') requirements. Procedures exist for the safe use of river craft and machinery. A risk assessment is undertaken for all activities, with any issue of concern flagged. A proforma risk assessment schedule is now available as the basis for all event assessments. Following the H&S consultancy during 2017, a full H&S management system is in place. |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
RENEWABLE HERITAGE TRUST |
Independent examiner's report to the trustees of Renewable Heritage Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Paul Dixon |
Fortus North Limited |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
5 April 2023 |
RENEWABLE HERITAGE TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
For The Year Ended 31 July 2022 |
2022 | 2021 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 487,264 |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
BALANCE SHEET |
31 July 2022 |
2022 | 2021 |
Total | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank | 10 |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds: |
General fund | 50,253 | 34,535 |
Capital reserve fund | 452,729 | 452,729 |
487,264 |
TOTAL FUNDS | 487,264 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
RENEWABLE HERITAGE TRUST (REGISTERED NUMBER: 05170904) |
BALANCE SHEET - continued |
31 July 2022 |
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 |
RENEWABLE HERITAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements and assessment of going concern |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The Trustees consider there are no material uncertainties about the Trust's ability to continue as a going concern. |
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 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 will be required in settlement 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 |
Plant and machinery are included at cost and less accumulated depreciation. |
Land and buildings have been included at valuation. No depreciation is provided on the buildings as the Trustees operate an ongoing refurbishment policy to extend the useful life of the buildings |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Grants and Donations |
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. |
Revenue grants are recognised in the SOFA so as to match them with the expenditure towards which they are intended to contribute. |
Grants which contribute towards specific expenditure on fixed assets are credited to the SOFA over the expected useful lives of the related assets. |
RENEWABLE HERITAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2022 |
1. | ACCOUNTING POLICIES - continued |
Contractual Income and Performance Related Grants |
These are only included in the SOFA once the related goods or services have been delivered. |
Volunteer Help |
The value of any voluntary help received is not included in the accounts but is described in the trustee's annual report. |
Investment Income |
Investment income is included in the accounts when receivable. |
Governance Costs |
Include costs of the preparation and examination of statutory accounts and cost of any legal advice to trustees on governance or constitutional matters. |
2. | OTHER TRADING ACTIVITIES |
2022 | 2021 |
Unrestricted | Total |
funds | funds |
£ | £ |
Fundraising courses, workshops and events |
662 |
366 |
3. | INVESTMENT INCOME |
2022 | 2021 |
Unrestricted | Total |
funds | funds |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021. |
RENEWABLE HERITAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2022 |
6. | TAXATION |
The company is accepted as a charity for taxation purposes and is exempt from taxation on its income or gains to the extent that they are applied for charitable purposes. |
7. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 August 2021 and 31 July 2022 |
DEPRECIATION |
At 1 August 2021 |
Charge for year |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
8. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
Prepayments |
10. | CASH AT BANK |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. |
RENEWABLE HERITAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2022 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors | ( |
) |
Accrued expenses |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.21 | in funds | 31.7.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 34,535 | 15,718 | 50,253 |
Capital reserve fund | 452,729 | - | 452,729 |
15,718 |
TOTAL FUNDS | 15,718 | 502,982 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 38,751 | (23,033 | ) | 15,718 |
TOTAL FUNDS | ( |
) | 15,718 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.20 | in funds | 31.7.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 12,228 | 22,307 | 34,535 |
Capital reserve fund | 452,729 | - | 452,729 |
464,957 | 22,307 | 487,264 |
TOTAL FUNDS | 464,957 | 22,307 | 487,264 |
RENEWABLE HERITAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2022 |
12. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 44,764 | (22,457 | ) | 22,307 |
TOTAL FUNDS | 44,764 | (22,457 | ) | 22,307 |
13. | TRANSACTIONS WITH TRUSTEES |
During the year, the Trust received donations from Howsham Power Co Ltd totalling £37,000 (2021 - £43,475), a company in which Mr M C Phillips and Ms M Macleod are directors. |
During the year, £6,708 (2021 - £7,326) was paid to Mr D Mann and Ms M Macleod, in respect of the lease of land by the Trust. Mr D Mann is a Trustee of the charity. |