This is our story...
“We are extremely impressed
with the value for money.
New Start’s costs are
considerably lower than
other design agencies used
but there is absolutely no
Cut out
compromise on quality.”
Kerry Chase, Key Fund Yorkshire
Annual Report
...Can we be part of yours? Pages: 16
Size: A4
Annual Rep
or
Printed: March 2009
t 2008
Annual Report 2008.indd 1
09/03/2009 11:01
The final chapter...
Then... 624
1,304 £10,555,083
Social enterprises
Voluntary and community Voluntary and
1999 – January 2009
supported groups supported community grants
377
Jobs safeguarded
2,372 £3,489,455
£5,302,647
Volunteering Social enterprise
Leverage achieved
opportunities provided grants
£5,070,559
between
2002
and
Social enterprise
February 2009
loans 217
107
Organisations
Organisations engaged
106
672
funded to attend
with the Enterprise
New business
Jobs created
Footsey 100
Discovery programme
start ups
KEY FACTS
Now...
Expenditure April 2007 – M
arch 2008
Social Enterprise
• Organisation - Small scale
hydro-electric power scheme. Global Loans &
Capital
Grants Grants
Investment Grants
Total
Settle Hydro Ltd
• Social Impact - Selling ‘green’
hydro-electricity to Energy
Investment £617,365
£433,901 £876,867
£219,450 £2,147,583
companies.

S
ettle Hydro Ltd is a new star
t social enterprise
• Targeted Beneficiaries
£538,466
based in North Yorkshir
e. The organisation is
- Local
Outreach Services &
developing a small scale h
ydro-electric power
Settle community.
Mentoring
scheme on a weir on the R
iver Ribble in Settle.
• Legal Structure - Industrial and
£348,083
Central Services &
They will generate revenue b
y selling ‘green’
Provident Society. Running Costs
hydro-electricity to Ener
gy companies.
Total £3,034,132
Settle Hydro Ltd was set up t
o allow the
community to own the h
ydro scheme
In December 2008, Key F
und Yorkshire agreed
themselves. Local people w
ere given the a pot
ential £70,000 finance pack
age with Settle
opportunity to purchase shar
es to a value of Hy
dro; £10,000 of this would be deliv
ered as
£100,000. This innovativ
e ownership structure
a grant and £20,000 as a loan.
The remaining
means that any surplus r
evenue will be passed
£40,000 would be used
as a flexible underwriting
The future...
back to the local communit
y through its twin facilit
y for the community shar
e issue, giving the
aims of regenerating the local ec
onomy and organisa
tion the ability to trade its o
wn shares.
We aim to deliver up to
£3m of lead in finance t
o
promoting the environmen
tal sustainability of the communities of Y&H on an annual basis and
Settle District.
Since agreeing the pack
age with the Key Fund,
are currently optimistic tha
t a bid to Yorkshire
Settle Hydro received enor
mous interest in their
Forward for additional £1.3m
capital will help us to
Settle Hydro approached the Key F
und for communit
y share issue and has suc
cessfully
maintain this target over the ne
xt year.
. The Key Fund
support towards the £300,000 needed t
o raised the full £40,000 needed
establish their enterprise
. The monies are to
is still providing the group with the £30,000 as
be used for equipment and c
onstruction costs, pr
eviously agreed.
project management fees
, development costs
and a donation to the dev
eloping world hydro
Once the scheme is up and running enough
...Until next year.
scheme.
electricity will be gener
ated to power 50 homes
.
15
14
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