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The Trustees have approved the audited Annual Report and Financial Statements for the year ended 31 December 2020 and filed them with the Charity Commission.
Financial Highlights
The numbers below are extracted from the audited accounts.
Abbreviated income statement and expenditure account:
(All numbers are in £'s)
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2020 |
2019 |
| Income |
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| Donations |
62,189 |
633,114 |
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| Expenses |
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| Raising funds |
35,946 |
48,785 |
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| Charitable activities |
123,259 |
100,311 |
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| Net (deficit)/income for the year |
(97,016) |
484,018 |
The Trust reassessed its fundraising role in the light of the pandemic and decided to pause its own fundraising to support local communities that had more immediate funding requirements. This decision, compounded by the extensive delay to the outcome of the Upper Estuary Business Case, had a major impact on fundraising in 2020. In addition, a number of events had to be cancelled due to government restrictions. The Trust, however, is fortunate in having loyal supporters who have continued to donate. We are very grateful for that support.
The Trust is committed to protecting the communities surrounding the Alde and Ore Estuary by upgrading the flood defences of the river walls. The benefits are attractive and persuasive economically, environmentally and will enhance health and well being in each of the communities.
The evidence to support the flood defence upgrade of the river walls is strong:
- Nearly 500 properties are at risk from flooding (305 residential and 176 nonresidential).
- Revenue generated by leisure and tourism exceeds £100million per annum creating many jobs.
- The tidal flood defence frontage is 44 kilometres long and provides access to 101 kilometres of public and permissive paths as well as protecting the internationally designated habitats.
- Freshwater aquifers irrigate over 7,800 acres of vegetable and other high value crops which provide food security of national importance.
The Trustees Report provides more details on the current flood defences, the preferred future flood defence design and the benefits to be gained for current and future generations. There is strong evidence to support the upgrade which is clearly in the public interest. Please take a look here to read the detail.
The Trust continues to provide grants to the East Suffolk Internal Drainage Board (ESIDB) to progress the Upper Estuary Business Case with the Environment Agency (EA). Recently, the Trust has awarded a grant of £31,351 for a revised submission of this Business Case which will, if accepted by the EA, allow the release of government funds. We had anticipated approval by now for both the Upper and Lower Estuary Businesses Cases. The Trust is frustrated with the lack of information from the EA as to why financial approval of the Upper Estuary Business Case is delayed even though the Business Case has received technical approval by the EA.
All the work of the ESIDB to obtain government funding (Flood Defence Grant in Aid) has been funded by the Trust. The Trust hopes that the EA will expeditiously deal with this matter. Once approved, we will fund the completion of the Lower Estuary Business Case.
Fundraising Plans and 2022
More positively we have engaged charity fundraising consultants to work with us to maximise fundraising once EA approval is obtained. Furthermore, we have agreed to fund and work with Coastal Partnership East (CPE) to support us with grant applications.
We are hopeful that funds will be released by the EA in early 2022, and the river wall flood defence upgrade can begin. This will be a welcome catalyst for the Trust’s fundraising efforts and we can swiftly restart major fundraising efforts. There is no doubt this will be a fantastic beginning to the New Year. It will help to secure the future of this unique and magical place for current and future generations. This will be great news for the estuary communities and as ever your support will be hugely welcome.
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