Irwell Rivers Trust Limited Charity Accounts
Irwell Rivers Trust Limited Charity Accounts
COMPANY REGISTRATION NUMBER:
06880410
CHARITY REGISTRATION NUMBER:
1146615
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Company Limited by Guarantee |
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Company Limited by Guarantee |
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Financial Statements |
Period from 1 May 2021 to 31 August 2022
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Trustees' annual report (incorporating the director's report) |
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Chartered accountant's report to the board of trustees on the preparation of the unaudited statutory financial statements |
3 |
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Statement of financial activities (including income and expenditure account) |
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Statement of financial position |
5 |
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Notes to the financial statements |
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Company Limited by Guarantee |
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Trustees' Annual Report (Incorporating the Director's Report) |
Period from 1 May 2021 to 31 August 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended
31 August 2022
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Reference and administrative details
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Registered charity name |
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Charity registration number |
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Company registration number |
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Principal office and registered |
47 Chestnut Avenue |
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office |
Bury |
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Lancashire |
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BL9 7QW |
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The trustees
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Accountants |
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Chartered accountants |
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7 Christie Way |
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Christie Fields |
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Manchester |
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M21 7QY |
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Structure, governance and management
The Irwell Rivers Trust is a registered company (6880410) limited by guarantee and is registered as a charity with the Charity Commission (No 1146615). The Trust is governed by a board of Trustees, and the affairs of the Trust are governed by its Memorandum and Articles of Association. The liability of the members in event of the Trust being wound up is limited to a sum not exceeding £1 per member.
Objectives and activities
The Trust became a registered charity (No 1146615) on 28 March 2012 and is also a member of The Rivers Trust.
The objects of the Trust are to protect, conserve, rehabilitate and improve the rivers, streams, watercourses, water impoundments together with the related banksides with respect to the River Irwell (Lancashire) its tributaries and the Irwell Valley (the river catchment area of the River Irwell) for the benefit of the public. To this end the Trust has carried out a number of habitat improvement projects which have been funded by various public and other bodies.
Achievements and performance
Having previously recognised and agreed that the Irwell Rivers Trust should be wound down as a company, in this period we have distributed the very last of our remaining fnancial assets to groups/organisations witin the Irwell catchment that share the same passion and values for restoring the River Irwell as those held by the Irwell Rivers Trust. These will be the last financial statements prepared after which the company will be dissolved.
Financial review
The accounts show that for the period ended 31 August 2022 net outgoing resources amounted to £5,851 (2021 £708). At the year end there were restricted funds available of £Nil. At 31 Augut 2022 there were 4 members.
Plans for future periods
We have distributed the last of our remaining resources (financial and physical assets) to groups and organisations within the catchment in a way that is in-keepng with the Irwell Rivers Trust passion and purpose for restoring the health of the River Irwell and its catchment. The charity and company will now cease activities and be wound down.
Small company provisions
The trustees' annual report was approved on
31 October 2022
and signed on behalf of the board of trustees by:
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Trustee |
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Company Limited by Guarantee |
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Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of
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Period from 1 May 2021 to 31 August 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of
Irwell Rivers Trust Limited
for the period ended 31 August 2022, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the board of trustees of
Irwell Rivers Trust Limited
, as a body, in accordance with the terms of our engagement letter dated 30 Apr 21. Our work has been undertaken solely to prepare for your approval the financial statements of Irwell Rivers Trust Limited
and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Irwell Rivers Trust Limited
and its board of trustees, as a body, for our work or for this report.
It is your duty to ensure that
Irwell Rivers Trust Limited
has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Irwell Rivers Trust Limited
. You consider that Irwell Rivers Trust Limited
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of
Irwell Rivers Trust Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
7 Christie Way
Christie Fields
Manchester
M21 7QY
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Company Limited by Guarantee |
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Statement of Financial Activities |
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(including income and expenditure account) |
Period from 1 May 2021 to 31 August 2022
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Period from 1 May 21 to 31 Aug 22 |
Year to 30 Apr 21 |
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Unrestricted funds |
Total funds |
Total funds |
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Note |
£ |
£ |
£ |
Expenditure
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Expenditure on charitable activities |
5,6 |
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------- |
------- |
---- |
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Total expenditure |
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------- |
---- |
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---- |
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Net expenditure and net movement in funds |
(
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(
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(
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---- |
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Reconciliation of funds
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Total funds brought forward |
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------- |
------- |
------- |
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Total funds carried forward |
– |
– |
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------- |
------- |
------- |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Company Limited by Guarantee |
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Statement of Financial Position |
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31 Aug 22 |
30 Apr 21 |
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Note |
£ |
£ |
£ |
Current assets
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
10 |
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------- |
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Net current liabilities |
– |
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------- |
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Total assets less current liabilities |
– |
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------- |
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Net liabilities |
– |
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------- |
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Funds of the charity
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Unrestricted funds |
– |
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------- |
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Total charity funds |
11 |
– |
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------- |
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Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of trustees
and authorised for issue on
31 Oct 22
, and are signed on behalf of the board by:
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Trustee |
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Company Limited by Guarantee |
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Notes to the Financial Statements |
Period from 1 May 2021 to 31 August 2022
1.
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 47 Chestnut Avenue, Bury, Lancashire, BL9 7QW.
2.
Statement of compliance
3.
Accounting policies
Volunteers
The trust receives the benefit of work carried out by volunteers and receives the use of facilities and equipment without charge. No value is placed on these items for accounting purposes.
Basis of preparation
Going concern
The trustees have made the decision that the charity will cease to trade and therefore the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the charity's assets down to net realisable value and including provisions in respect of contract which have become onerous at the reporting date. No provision has been made for the future costs of terminating the charity unless such costs were committed at the reporting date.
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, given the low level of activity in the charity this year, the trustees do not believe there are any significant judgements estimates or assumptions that require disclosing.
Fund accounting
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Equipment |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
4.
Limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the Trust undertakes to contribute to the assets of the Trust in the event of it being wound up whilst he or she is a member or within one period of ceasing to be a member for the debts and liabilities of the Trust contracted before he or she ceases to be a member, such as may be required not exceeding £1.
5.
Expenditure on charitable activities by fund type
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Unrestricted Funds |
Total Funds 2022 |
Unrestricted Funds |
Total Funds 2021 |
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£ |
£ |
£ |
£ |
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Habitat Improvement Works |
4,896 |
4,896 |
– |
– |
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Support costs |
955 |
955 |
708 |
708 |
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6.
Expenditure on charitable activities by activity type
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Activities undertaken directly |
Support costs |
Total funds 2022 |
Total fund 2021 |
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£ |
£ |
£ |
£ |
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Habitat Improvement Works |
4,896 |
– |
4,896 |
– |
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Governance costs |
– |
955 |
955 |
708 |
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7.
Staff costs
The average head count of employees during the period was
4
(2021:
4
). The average number of full-time equivalent employees during the period is analysed as follows:
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31 Aug 22 |
30 Apr 21 |
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No. |
No. |
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Number of staff |
4 |
4 |
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No employee received employee benefits of more than £60,000 during the year (2021: Nil).
8.
Trustee remuneration and expenses
No trustees received any remuneration or expenses during the year.
9.
Tangible fixed assets
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Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 May 2021 |
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Disposals |
(
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(
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------- |
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At 31 August 2022 |
– |
– |
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------- |
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Depreciation |
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At 1 May 2021 |
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Disposals |
(
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(
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------- |
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At 31 August 2022 |
– |
– |
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------- |
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Carrying amount |
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At 31 August 2022 |
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– |
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------- |
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At 30 April 2021 |
– |
– |
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10.
Creditors:
amounts falling due within one year
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31 Aug 22 |
30 Apr 21 |
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£ |
£ |
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Accruals and deferred income |
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11.
Analysis of charitable funds
Unrestricted funds
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At 1 May 2021 |
Expenditure |
At 31 August 2022 |
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£ |
£ |
£ |
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General funds |
5,851 |
(5,851) |
– |
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At 1 May 2020 |
Expenditure |
At 30 April 2021 |
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£ |
£ |
£ |
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General funds |
6,559 |
(708) |
5,851 |
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12.
Analysis of net assets between funds
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Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
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Current assets |
720 |
720 |
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Creditors less than 1 year |
(720) |
(720) |
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Net liabilities |
– |
– |
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Unrestricted Funds |
Total Funds 2021 |
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£ |
£ |
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Current assets |
6,469 |
6,469 |
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Creditors less than 1 year |
(618) |
(618) |
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------- |
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Net liabilities |
5,851 |
5,851 |
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