HIGH TREES COMMUNITY DEVELOPMENT TRUST

Company limited by guarantee

Company Registration Number:
03573630 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

The summary of objects as set out in the High Trees Memorandum of Association is as follows: to relieve persons who are in conditions of need, hardship or distress by reason of their social and economic circumstances; to reduce social exclusion; to promote the advancement of education and learning, including training in skills relevant to securing employment; to advance public education and involvement in the arts; to provide facilities for public recreation or other leisure time occupation in the interests of social welfare with the object of improving their conditions of life; to promote such other charitable purposes for the general benefit of the public resident in Lambeth and the Greater London Area

Additional information

Structure, Governance and Management of High Trees Community Development Trust Governing Document Recruitment and appointment of Management Committee Risk Management Organisational Structure and Management Reserves Policy Financial Review High Trees Community Development Trust is a registered company limited by guarantee and a registered charity. It has a memorandum and articles document providing the framework for the focus of work. The company Directors are also charity trustees for the purpose of charity law and under the company’s articles are known as members of the Management Committee. New trustees are recruited by advertising of vacant positions through local networks in Lambeth and by targeting individuals involved in the Trusts activities who complement the current skills set on the Board, who then fill out an application form and the relevant declarations of interest. Any new trustee appointment is subject to a vote by the board. High Trees undertakes a bi-annual risk assessment which includes risk associated with buildings, personnel and finances. This is recorded as a matrix which also grades the risk and notes how this risk will be managed. A bi-annual review of the risk assessment is made every other year by the Co-CEOs and presented to the trustees for analysis and agreement. Where appropriate, systems or procedures have been established to mitigate against risks that High Trees faces. Internal control risks are minimised by the implementation of procedures for authorisation of transactions and projects. We also undertake risk assessment and contingency planning for funders in line with their good practice requirements and with partner organisations before starting projects with them. High Trees has a Trustee Board of 6 members at April 2025 who meet bi-monthly as a board, and quarterly as subcommittees, and are responsible for the strategic direction and policy of the charity. High Trees Reserves Policy is to move towards holding reserves of 9 months running costs of the charity. This amount is recalculated each financial year, and as of April 2025 is £1,729,926 (representing Total Costs of £192,214 per month). This money is set aside to guarantee the organisation’s ongoing stability, to ensure that any changes in the funding climate are able to be managed, and to ensure that should funding for certain programmes or projects reach an end High Trees are able to continue to offer provision where appropriate while further funding is sought, only discontinuing much needed services if this proves impossible. We hope to reach this increased milestone in the next 3 financial years. High Trees currently hold an operating reserve of 5.4 months operating costs, and while not at the optimum level we are confident that this provides an adequate level of protection while we move towards our goal of 9 months reserves. The Co-CEO’s, Anna Coffey and Grace English, co-ordinate the day-to-day work of High Trees on behalf of the trustees. The Co-CEO’s report to the board of trustees. The Co-CEO’s take day-to-day financial and personnel decisions. Recommendations are presented to the board at the bi-monthly board meetings at the end of a CEO report. Decisions made by the trustees include decisions on spend of amounts of money over £50,000, on adopting the accounts, budgets and the strategic plans and policies. High Trees Reserves Policy is to move towards holding reserves of 9 months running costs of the charity. This amount is recalculated each financial year, and as of April 2025 is £1,729,926 (representing Total Costs of £192,214 per month). This money is set aside to guarantee the organisation’s ongoing stability, to ensure that any changes in the funding climate are able to be managed, and to ensure that should funding for certain programmes or projects reach an end High Trees are able to continue to offer provision where appropriate while further funding is sought, only discontinuing much needed services if this proves impossible. We hope to reach this increased milestone in the next 3 financial years. High Trees currently hold an operating reserve of 5.4 months operating costs, and while not at the optimum level we are confident that this provides an adequate level of protection while we move towards our goal of 9 months reserves. The Co-CEO’s, Anna Coffey and Grace English, co-ordinate the day-to-day work of High Trees on behalf of the trustees. The Co-CEO’s report to the board of trustees. The Co-CEO’s take day-to-day financial and personnel decisions. Recommendations are presented to the board at the bi-monthly board meetings at the end of a CEO report. Decisions made by the trustees include decisions on spend of amounts of money over £50,000, on adopting the accounts, budgets and the strategic plans and policies. High Trees have ended the year with a net surplus of £199,594 (2023 - £553,371). This does not account for the charge for depreciation in Fixed Asset reserves.The total generated as net surplus adjusted for depeciation as reported in the statement of financial activies is £131,005 (2023 - £484,782). High Trees have generated a smaller surplus this Financial Year compared to previous recent financial years, and this is expected to also be the case for the current financial year (2024 – 2025). This is due to the funding climate becoming increasingly challenging and the organisation is currently having to subsidise some of our core service areas (notably Children, Young People and Families and Community Action) to ensure that wherever possible there is no reduction in service. High Trees has an operational reserve of £1,338,717 (2023 - £1,139,123) (and a further £480,127 (2023 - £548,716) shown in these accounts representing the value of reserves in relation to the capital refurbishment work undertaken on the High Trees Hub in 2022. Of the £1,338,717, the Trustees have put aside some as designated funds - £85,000 designated to complete the capital refurbishment of High Trees Hub (in the form of replacing the roof), £60,000 designated for the rebuild of the Adventure Playground at Tulse Hill Adventure Playground (while the intention is that as much as possible of this will be raised via grant funding, we are also ringfencing £60,000 as a contingency should the works run in to unexpected difficulty and generate extra expense) and £150,000 held in reserve for the maintenance of key partnerships. This leaves an available operating reserve of £1,043,717. The organisation continues to monitor the situation very closely, and while we continue to be in a financially healthy position, our ability to core fund currently underfunded service areas will always need to be balanced with ensuring the overall financial health and stability of the organisation. Reserves include a “restricted Capex Funds” as shown above which represents the value of the reserves related to the funds received and were spent specifically for capital refurbishment, specifically High Trees Hub 2022. This reserves is the recorded ongoing value of the capital refurbishment work and does not represent funds avialable in reserves as a cash amount available for the charity to spend. To ensure ongoing financial stability and good practice, £145,000 included in the unrestricted funds held has been designated by the Trustees to meet the cost of capital works of High Trees Community Buildings and £150,000 has been designated by the Trustees for the stability and maintenance of key partnerships, full details are given above. This gives unrestricted funds of £957,575 available, after the deduction of these designated amounts and the value of the restricted Capex Funds. Mission Statement Our Values are: Objectives and Activities Services throughout the year The organisation continues to monitor the situation very closely, and while we continue to be in a financially healthy position, our ability to core fund currently underfunded service areas will always need to be balanced with ensuring the overall financial health and stability of the organisation. Reserves include a “restricted Capex Funds” as shown above which represents the value of the reserves related to the funds received and were spent specifically for capital refurbishment, specifically High Trees Hub 2022. This reserves is the recorded ongoing value of the capital refurbishment work and does not represent funds avialable in reserves as a cash amount available for the charity to spend. To ensure ongoing financial stability and good practice, £145,000 included in the unrestricted funds held has been designated by the Trustees to meet the cost of capital works of High Trees Community Buildings and £150,000 has been designated by the Trustees for the stability and maintenance of key partnerships, full details are given above. This gives unrestricted funds of £957,575 available, after the deduction of these designated amounts and the value of the restricted Capex Funds. Connecting with people and communities to strengthen skills and build stronger voices. Collaborative Inclusive Responsive Supportive Rooted Services throughout the year High Trees produces an Impact Report each year which gives the full details of our work throughout the year. This can be found at www.high-trees.org/impact Trustees' responsibilities in relation to the financial statements Statement as to disclosure to our auditors Treasurer 22 May 2025 The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102, 'The Financial Reporting Standard in the UK and the Republic of Ireland'. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements; and prepared the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AGP Consulting were appointed as the charity’s auditors at the Trustee Meeting in January 2025. In so far as the trustees are aware at the time of approving our trustees’ annual report: there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the Trust’s auditor is unaware, and the trustees, having made enquiries of fellow directors and the Trust’s auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.



Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

EWA PAWLICZKO
TERRENCE DAVID CURTIS
JULIE-ANN SAY
OLUSINA TAIWO


The directors shown below have held office during the period of
27 September 2023 to 31 August 2024

DELROY ANTHONY CORINALDI
SHAZIA YAMIN


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 May 2025

And signed on behalf of the board by:
Name: EWA PAWLICZKO
Status: Director

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 2,149,080 2,544,296
Cost of sales: ( 2,018,075 ) ( 2,059,514 )
Gross profit(or loss): 131,005 484,782
Operating profit(or loss): 131,005 484,782
Interest receivable and similar income: 13,879 3,007
Profit(or loss) before tax: 144,884 487,789
Profit(or loss) for the financial year: 144,884 487,789

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 483,432 551,348
Total fixed assets: 483,432 551,348
Current assets
Debtors: 4 133,067 82,724
Cash at bank and in hand: 1,718,034 1,817,833
Total current assets: 1,851,101 1,900,557
Creditors: amounts falling due within one year: 5 ( 515,689 ) ( 764,066 )
Net current assets (liabilities): 1,335,412 1,136,491
Total assets less current liabilities: 1,818,844 1,687,839
Total net assets (liabilities): 1,818,844 1,687,839
Members' funds
Profit and loss account: 1,818,844 1,687,839
Total members' funds: 1,818,844 1,687,839

The notes form part of these financial statements

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 22 May 2025
and signed on behalf of the board by:

Name: EWA PAWLICZKO
Status: Director

The notes form part of these financial statements

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a reducing balance basis at an annual rate of 25%. The refurbishment of the property is written off over the remaining useful life estimated to be 10 years. There is a separate reserve set up to recognise the value of reserves attributable to the property and this reserves is reduced by allocating the depreciation charge in relation to the property.

    Other accounting policies

    Accounting policies Basis of preparation of the accounts Change in basis of accounting Incoming Resources Resources Expended Charitable expenditure Support costs Governance costs Restricted and Unrestricted Funds Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Resources expended include attributable VAT which cannot be recovered. Include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources e.g. Staff costs by the time spent and other costs by their usage Include costs on the preparation and examination of statutory accounts, the costs of Trustee meetings and costs of any legal advice to the Trustees on governance or constitutional matters The accounts distinguish between restricted and unrestricted funds. Restricted funds are received from donors and are subject to restrictions on the purposes for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions and are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Costs incurred by the charitable company, in the delivery of its activities and services for its beneficiaries. The financial statements have been prepared under the historical cost convention, as modified by the valuation of investments at market value, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2005) and the Companies Act 2006 and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2015. The company constitutes a public benefit entity as defined by FRS 102. The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the charity is small There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. Incoming resources are included in the SOFA when the charity becomes entitled to the resources, the Trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient certainty. Where incoming resources have related expenditure (as with fundraising for contract income), the incoming resources and related expenditure are stated gross in the SOFA. Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the funds. The value of any volunteer help received is not included in the accounts, but is described in the Trustee’s annual report. Investment income is included when receivable. Resources Expended Charitable expenditure Support costs Governance costs Restricted and Unrestricted Funds Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Resources expended include attributable VAT which cannot be recovered. Include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources e.g. Staff costs by the time spent and other costs by their usage Include costs on the preparation and examination of statutory accounts, the costs of Trustee meetings and costs of any legal advice to the Trustees on governance or constitutional matters The accounts distinguish between restricted and unrestricted funds. Restricted funds are received from donors and are subject to restrictions on the purposes for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions and are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Tangible Fixed Assets, Depreciation and Amortisation Debtors Cash at bank and in hand Creditors and provisions Legal status of the Trust 2 Investment Income 2024 2023 As restated £ £ Bank deposit interest received 13,879 3,007 Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a reducing balance basis at an annual rate of 25%. The refurbishment of the property is written off over the remaining useful life estimated to be 10 years. There is a separate reserve set up to recognise the value of reserves attributable to the property and this reserves is reduced by allocating the depreciation charge in relation to the property. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. The trust is a company limited by guarantee and has no share capital. The liability of each member in the event of windingup is limited to £1. Funds belonging to the charity have not been used for the purchase of insurance to protect the charity from loss arising from the neglect or defaults of its trustees, employees or agents, or to indemnify its trustees, employees or agents, against the consequences of any neglect or default on their part.

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 25 25

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 685,894 4,680 690,574
Additions 1,775 1,775
Disposals
Revaluations
Transfers
At 31 August 2024 685,894 6,455 692,349
Depreciation
At 1 September 2023 137,178 2,048 139,226
Charge for year 68,589 1,102 69,691
On disposals
Other adjustments
At 31 August 2024 205,767 3,150 208,917
Net book value
At 31 August 2024 480,127 3,305 483,432
At 31 August 2023 548,716 2,632 551,348

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 133,067 82,724
Total 133,067 82,724

HIGH TREES COMMUNITY DEVELOPMENT TRUST

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 21,595 22,239
Accruals and deferred income 397,487 689,266
Other creditors 96,607 52,561
Total 515,689 764,066