WRAP’s income fell 18% to £65.6m between 2011/12 and the previous year due to its grant being cut, the not-for-profit company has announced.
The annual report and consolidated accounts, published by WRAP on 8 August, said funding cuts meant £62.8m was spent on programmes compared to £77.2m in 2010/11.
The report said: “The reduction in income compared to the previous year reflects the reduction in grant funding following the Government Spending Review.”
Staffing costs received a relatively modest 3.9% cut from £2.7m to £2.5m with senior management maintaining comparable salaries with the previous year.
Chief executive Liz Goodwin’s total remuneration, excluding pension contributions, was £186,000, compared to £185,000 in 2010/11.
Developments highlighted during 2011/12 show that WRAP:
- Published research showing food waste fell from 8.3m to 7.2m tonnes a year
- Handed a £1.15m loan to ECO Plastics to help it extend its existing bottle sorting and processing facility in Lincolnshire
- Published research which showed almost a quarter of waste electrical and electronic equipment thrown out each year by consumers could be reused, generating more than £220m in the process.
- Published research showed that buying reused items like sofas and TVs instead of new was saving UK households around £1bn a year and creating jobs - but said it was just a fraction of the potential.
WRAP’s independent auditors gave the company a clean bill of health.
- MRW has a contract with WRAP for materials pricing reports.