Irwell Rivers Trust Limited Charity Accounts

IRWELL RIVERS TRUST LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06880410

CHARITY REGISTRATION NUMBER: 1146615

Irwell Rivers Trust Limited

Company Limited by Guarantee

Unaudited Financial Statements

30 April 2018

Irwell Rivers Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 30 April 2018

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	3

Statement of financial position	4

Notes to the financial statements	5

Irwell Rivers Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 30 April 2018

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 year ended 30 April 2018 .

Reference and administrative details

Registered charity name	Irwell Rivers Trust Limited

Charity registration number	1146615

Company registration number	06880410

Principal office and registered	47 Chestnut Avenue
office	Bury
	Lancashire
	BL9 7QW

The trustees

	Ms. K. Goodman
	Mr. MJ. Schofield
	Mr. IJ. Scholes-Highman
	Mr. AW. Soulsby

Accountants	Leonherman
	Chartered accountants
	7 Christie Way
	Christie Fields
	Manchester
	M21 7QY

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

During the year, the Trust was involved in ongoing surveying, monitoring and maintenance of previously delivered projects. This includes mapping the evolution and habitat enhancement of water courses on which we have delivered in channel restoration measures, including weir removal and deculverting. We also continue to deliver on our engagement with land owners and land managers in the Upper Croal catchment to help maintain the trend for improving water quality. We continue to keep abreast of local and regional policy and standards changes, and regularly assess our options for future projects and collaboration. The Trust is very grateful for all the help and support from partners and individuals across the whole catchment.

Financial review

The accounts show that for the year ended 30 April 2018 net incoming resources amounted to £Nil (2017 £Nil). There were net incoming resources on General Funds of £Nil and net incoming resources of £Nil on Restricted Funds. At the year end there were restricted funds available of £Nil, with the restricted balance having been transferred to unrestricted funds during the year. At 30 April 2018 there were 4 members.

Plans for future periods

Changes in the political and working character of the Irwell landscape have challenged us to reflect on our performance and consider the potential requirements to succeed in our aims and objectives into the future. At this point, we aim to fulfil our current obligations into the next year with project completion (ongoing projects) and associated monitoring and surveying to the highest professional standard. Some more understanding of the working landscape is required to help inform our decision making for how we continue to provide and improve our primary and support services to conserve and restore the health of the River Irwell and its catchment. After much deliberation, it has been recognised and agreed by the board that the Irwell Rivers Trust is no longer an organisation that fits strategically and healthily within the working landscape of the River Irwell and its catchment. As a small voluntary organisation with skillsets specific to and specialising in the delivery of in-channel conservation and restoration works, we have struggled as individuals and as a group to cope and adapt to increasing political pressures and tensions locally. It has been with much personal and professional sadness that we have agreed, for the sake of our own health, that we will look to wind down as a company the Irwell Rivers Trust at some point in the future. The charity and company will continue to operate as a going concern up until that decision is made and currently no decision has been taken as to exactly when the charity will cease activities. We are currently in ownership of both financial and physical assets and are actively seeking assistance and guidance with "The Rivers Trust" and "The Charities Commission" to best utilise through distribution our remaining assets.

Small company provisions

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

The trustees' annual report was approved on 22 January 2019 and signed on behalf of the board of trustees by:

Mr. MJ. Schofield

Trustee

Irwell Rivers Trust Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 30 April 2018

	2018			2017
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Expenditure

Expenditure on charitable activities	5,6	9,549	4,800	14,349	3,556
		-------	-------	--------	-------
Total expenditure		9,549	4,800	14,349	3,556
		-------	-------	--------	-------

	-------	-------	--------	-------
Net expenditure	( 9,549)	( 4,800)	( 14,349)	( 3,556)
	-------	-------	--------	-------

Transfers between funds	138,562	(138,562)	–	–

	---------	---------	--------	-------
Net movement in funds	129,013	( 143,362)	( 14,349)	( 3,556)

Reconciliation of funds

Total funds brought forward	1,001	143,362	144,363	147,919
	---------	---------	---------	---------
Total funds carried forward	130,014	–	130,014	144,363
	---------	---------	---------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Irwell Rivers Trust Limited

Company Limited by Guarantee

Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible fixed assets	10		730	8,136

Current assets

Debtors	11	–	6,852
Cash at bank and in hand		129,902	130,276
		---------	---------
		129,902	137,128

Creditors: amounts falling due within one year	12	618		901
		---------		---------
Net current assets			129,284	136,227
			---------	---------
Total assets less current liabilities			130,014	144,363
			---------	---------
Net assets			130,014	144,363
			---------	---------

Funds of the charity

Restricted funds		–	143,362
Unrestricted funds		130,014	1,001
		---------	---------
Total charity funds	13	130,014	144,363
		---------	---------

For the year ending 30 April 2018 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 22 January 2019 , and are signed on behalf of the board by:

Mr. MJ. Schofield

Trustee

Irwell Rivers Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 April 2018

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

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

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

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis. The trustees have held discussions regarding the future of the charity and this is included in the Trustees Annual Report and a decision has been taken to wind down the charity at some point in the future. No decision has been made on the timing of when this will happen and at the time of approving the financial statements and the charity is expected to continue to operate for a period of at least twelve months from the balance sheet 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

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	Equipment	-	20% straight line

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

	Unrestricted Funds	Restricted Funds	Total Funds 2018
	£	£	£
Habitat Improvement Works	–	4,800	4,800
Support costs	9,549	–	9,549
	-------	-------	--------
	9,549	4,800	14,349
	-------	-------	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2017
	£	£	£
Habitat Improvement Works	827	–	827
Support costs	2,729	–	2,729
	-------	----	-------
	3,556	–	3,556
	-------	----	-------

6. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2018	Total fund 2017
	£	£	£	£
Habitat Improvement Works	4,800	1,759	6,559	2,428
Governance costs	–	7,790	7,790	1,128
	-------	-------	--------	-------
	4,800	9,549	14,349	3,556
	-------	-------	--------	-------

7. Net expenditure

Net expenditure is stated after charging/(crediting):

	2018	2017
	£	£
Depreciation of tangible fixed assets	340	490
Loss on disposal of heritage assets	7,067	–
	-------	----

8. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2018	2017
	£	£

The average head count of employees during the year was 4 (2017: 4). The average number of full-time equivalent employees during the year is analysed as follows:

	2018	2017
	No.	No.
Number of staff	4	4
	----	----

No employee received employee benefits of more than £60,000 during the year (2017: Nil).

9. Trustee remuneration and expenses

No trustees received any remuneration or expenses during the year.

10. Tangible fixed assets

	Equipment	Total
	£	£
Cost
At 1 May 2017	9,059	9,059
Disposals	( 7,358)	( 7,358)
	-------	-------
At 30 April 2018	1,701	1,701
	-------	-------
Depreciation
At 1 May 2017	923	923
Charge for the year	340	340
Disposals	( 292)	( 292)
	-------	-------
At 30 April 2018	971	971
	-------	-------
Carrying amount
At 30 April 2018	730	730
	-------	-------
At 30 April 2017	8,136	8,136
	-------	-------

11. Debtors

	2018	2017
	£	£
Prepayments and accrued income	–	1,463
Other debtors	–	5,389
	----	-------
	–	6,852
	----	-------

12. Creditors: amounts falling due within one year

	2018	2017
	£	£
Accruals and deferred income	618	901
	----	----

13. Analysis of charitable funds

Unrestricted funds

	At 1 May 2017	Expenditure	Transfers	At 30 April 2018
	£	£	£	£
General funds	1,001	(9,549)	138,562	130,014
	-------	-------	---------	---------

	At 1 May 2016	Expenditure	Transfers	At 30 April 2017
	£	£	£	£
General funds	4,557	(3,556)	–	1,001
	-------	-------	----	-------

Restricted funds

	At 1 May 2017	Expenditure	Transfers	At 30 April 2018
	£	£	£	£
Restricted Fund	143,362	(4,800)	(138,562)	–
	---------	-------	---------	----

	At 1 May 2016	Expenditure	Transfers	At 30 April 2017
	£	£	£	£
Restricted Fund	143,362	–	–	143,362
	---------	----	----	---------

14. Analysis of net assets between funds

	Unrestricted Funds	Restricted Funds	Total Funds 2018
	£	£	£
Tangible fixed assets	730	–	730
Current assets	129,902	–	129,902
Creditors less than 1 year	(618)	–	(618)
	---------	----	---------
Net assets	130,014	–	130,014
	---------	----	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2017
	£	£	£
Tangible fixed assets	–	8,136	8,136
Current assets	1,001	136,127	137,128
Creditors less than 1 year	–	(901)	(901)
	-------	---------	---------
Net assets	1,001	143,362	144,363
	-------	---------	---------