Annual Report And Financial Statement y/e 31.12.18

The Trustees have approved the audited Annual Report and Financial Statements for the year ended 31 December 2018 and filed them with the Charity Commission. Below is a precis of the information contained within them.

Financial Highlights

The numbers below are extracted from the audited accounts.

Abbreviated income statement and expenditure account

2018 2017

Income

Donations and legacies £451,901 £188,440

Expenses

Raising funds £43,174 £17,739

Charitable activities £242,403 £11,394

Net income for the year £166,324 £159,307


Since the 2018 year-end the Trust has raised over £600,000 of which £400,000 is from the Garfield Weston Foundation, a charitable trust. This means the Trust has raised over £1.2 million to date.                              

Raising funds

During the year the charity launched a contemporary and distinctive new branding for the Trust. This was a catalyst for more social media presence to extend the reach of the #SOSEstuary awareness campaign. Numerous activities took place across the estuary community including art exhibitions, a cricket match, the sale of local honey, a marmalade competition and a Christmas theatre production. The Trust saw an increase in donors of 50% from 2017.

The Trustees are very grateful to members of the estuary community and businesses who have generously supported the Trust with their donations and time.

Charitable activities

The Trust awarded two grants to the East Suffolk Internal Drainage Board (ESIDB). The result of the first grant was an estimated costed programme of works for the improved flood defences, which includes an estimate of potential government grant funding (FDGIA). This would be delivered over 7 to 8 years, once government funding is available.     

All amounts are estimates: 

Cost Without risk contingency FDGIA

Upper Estuary £8.4m £6.4m £6m*

Lower Estuary £18.5m £15.4m £4.5m


*now estimated at £7 million
                                       
The second grant to the ESIDB is to fund the submission of the Outline Business Case (OBC) to the Environment Agency for the Upper Estuary. This is currently being scrutinised and work is ongoing. The result of this OBC submission is unlikely to be known until Spring 2020. Once the outcome of this is known the ESIDB will begin their work on the OBC for the Lower Estuary.

(Photo credit: Andrew Hill)

(Photo credit: Andrew Hill)

Future Plans

Looking ahead, the Trust encourages donors to give for works throughout the length of the estuary for a specific reason. Work on the walls can only go ahead within a programme that ensures no buildings or areas of land are at an increased risk of flooding from completed work.

The outcome of the Upper Estuary OBC will be a critical input into the consideration of estimated cash flow requirements, an important factor when raising funds. While central and local government grants are crucial for the necessary and successful improvement of flood defences, the Trust continues to pursue a strategy of applying for grants to charitable foundations known to favour environmental issues.

The Annual Report and Financial Statements for 2018, which gives greater detail on our fundraising and charitable activities, are available to read in full HERE

Questions

If you have any questions regarding the Annual Report and Financial Statements or fundraising activities of the Alde & Ore Estuary Trust, please email us by clicking HERE.